Posted: February 13, 2013
HARRISONBURG — Despite continued economic uncertainty, First Bancorp Inc. and its subsidiary, the First Bank & Trust Company, reported strong results for 2012, according to a release from the company today.
Year-end income for 2012 was $16 million, up $2.4 million from the end of 2011.
That resulted in cash dividends of $4.8 million paid in 2012, and represents 30.16 percent of total net income. As a result, First Bancorp, Inc. generated a 13.74 percent return on average equity to its shareholders. Cash dividends paid in 2012 represent a 62.5 percent increase from 2011.
First Bank & Trust serves western Virginia and northeastern Tennessee. In the Shenandoah Valley, it has branches in Harrisonburg, Bridgewater, Verona, Staunton and Waynesboro.
— Staff Report