Business

First Bancorp (North Carolina) (NYSE: FBP) Declares Quarterly Dividend of $0.07 per Share and MGIC Investment Corp. (NYSE: MTG) Announces Quarterly Dividend of $0.08 per Share

First Bancorp (North Carolina) (NYSE: FBP) announced that its Panel of Directors had declared a quarterly cash dividend of $0.07 per share. Accordingly, on September 10, 2021, the disbursement is outstanding to stockholders of record after trade on August 26, 2021.

First Bancorp reports an income of $29.3 million 

First Bancorp announced net revenue of $29.3 million, or $1.03 per diluted public share, for the three months finished June 30, 2021, an upsurge of 83.9% on a per-share basis, compared to $16.4 million, or $0.56 per diluted common share, logged in the second quarter of 2020. 

For the six months concluded June 30, 2021, the company logged a net revenue of $57.5 million, or $2.02 per diluted common share, compared to $34.5 million, or $1.18 per diluted common share the same time last year, an upsurge of 71.2%. Lower credit charges chiefly compelled the upper incomes for both phases in 2021 compared to 2020.

In the second quarter of 2021, the company faced noteworthy advances and credit development. Advance development for the quarter, exclusive of $86 million of net PPP advance deteriorations connected to loan clemency, amounted to $244 million, an annualized evolution degree of 22.3%. Credit development for the quarter was $438 million, an annualized evolution rate of 26.0%.

Net interest revenue for the second quarter of 2021 was $58.8 million, an 11.7% upsurge from the $52.6 million logged in the second quarter of 2020. Likewise, net interest revenue for the first six months of 2021 was $114.0 million, a 6.2% surge from the $107.4 million logged in the same period last year. 

Motivated by high deposit evolution, typical interest-earning possessions amplified by 22.1% in the first six months of 2021 equated to 2020. 

MGIC Investment Corp. (NYSE: MTG) Declares Quarterly dividend of $0.08 per share

The MGIC Investment Corp. (NYSE: MTG) Panel of Directors declared a quarterly cash dividend of $0.08 per share. The disbursement is due on August 26, 2021, to stockholders of record on August 12, 2021.

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