Amalgamated Bank Boosts Stake in First Bancorp by 2.9% in Q1

August 12, 2023

Categories: Banks - RegionalTags: , , Views: 34

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First Bancorp ($NYSE:FBP) is a financial services holding company whose primary subsidiary is First Bank, a full-service community bank with multiple locations throughout North Carolina and South Carolina. This is a significant boost for the company, as Amalgamated Bank has a long-term investment strategy which aims for long-term sustainability and growth. This increase in holdings will undoubtedly provide First Bancorp with additional capital and provide a strong vote of confidence from one of the largest stakeholders in the company. The increased stake from Amalgamated Bank is further evidence of the financial stability and growth potential of First Bancorp.

This increased capital infusion will give First Bancorp greater resources to expand its services and continue to serve the needs of its customers and communities. With its strong financials and record of success, First Bancorp is well-positioned to continue its growth and success in the years ahead.


At GoodWhale, we conducted an analysis of FIRST BANCORP‘s wellbeing to better understand the company’s current state. Our Star Chart shows that FIRST BANCORP is strong in growth, dividend, and medium in profitability, and asset. Interestingly, FIRST BANCORP has a high health score of 10/10 with regard to its cashflows and debt, which indicates the company is capable to sustain future operations in times of crisis. Based on our assessment, FIRST BANCORP is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Given these results, we believe investors who are looking to invest in a stable company with a history of moderate growth and dividend income will find FIRST BANCORP an attractive option. Moreover, investors who prioritize companies with strong cashflows and debt may also be interested in FIRST BANCORP due to its high health score. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis
  • About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for First Bancorp. More…

    Total Revenues Net Income Net Margin
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for First Bancorp. More…

    Operations Investing Financing
    440.49 -681.46 -1.82k
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for First Bancorp. More…

    Total Assets Total Liabilities Book Value Per Share
    19.15k 17.75k
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for First Bancorp are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    FCF Margin ROE ROA
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items

  • Peers

    The company’s main competitors are People’s United Financial Inc, AIB Group PLC, and Bandhan Bank Ltd.

    – People’s United Financial Inc ($OTCPK:AIBGY)

    AIB Group PLC is a leading financial services company based in Dublin, Ireland. The company has a market cap of 7.62B as of March 2022. AIB Group PLC provides a wide range of banking and financial services to retail, corporate, and institutional customers in Ireland, the United Kingdom, and the United States. The company operates through four segments: Personal & Business Banking, Corporate & Investment Banking, Wealth & Asset Management, and Central Treasury. AIB Group PLC is a publicly traded company listed on the Dublin Stock Exchange and the London Stock Exchange.

    – AIB Group PLC ($BSE:541153)

    Bandhan Bank Ltd has a market cap of 436.53B as of 2022. It is an Indian banking and financial services company headquartered in Kolkata, West Bengal. The company offers a range of banking products and services including deposits, loans, credit cards, and insurance. It also has a network of over 4,500 branches and 10,000 ATMs across India.


    Investors are increasingly turning to First Bancorp as a potential investment opportunity. Investors should closely monitor the company’s recent performance, and consider its financial stability and any potential risks associated with its shares, before deciding to invest in First Bancorp. It is also important to consider the current economic climate and how it could affect the stock’s performance.

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