First Bancorp

Live  

First Bancorp is a financial institution headquartered in Southern Pines, North Carolina. It serves as the bank holding company for First Bank, which offers a range of banking services including personal and business banking, loans, mortgages, and investment services. The bank operates numerous branches throughout North Carolina and has expanded into other states.
First Bancorp aims to provide high-quality service to its customers while supporting local communities. It emphasizes community involvement and emphasizes personalized banking experiences. The bank may also focus on digital banking solutions to enhance customer convenience and access.
As a publicly traded company, First Bancorp is subject to regulatory oversight and financial reporting requirements. It typically seeks to maintain strong financial performance through careful management of its assets and liabilities, as well as strategic growth initiatives.
Overall, First Bancorp is committed to serving its clients and contributing to the economic development of the regions in which it operates.

Rmlyc3QgQm FuY29ycCBp cyBub3RhYm xlIGZvciBi ZWluZyB0aG UgaG9sZGlu ZyBjb21wYW 55IGZvciBG aXJzdCBCYW 5rLCB3aGlj aCBvcGVyYX RlcyBwcmlt YXJpbHkgaW 4gTm9ydGgg Q2Fyb2xpbm EuIFRoZSBj b21wYW55IG lzIHJlY29n bml6ZWQgZm 9yIGl0cyBj b21tdW5pdH ktZm9jdXNl ZCBiYW5raW 5nIGFwcHJv YWNoLCBvZm ZlcmluZyBh IHJhbmdlIG 9mIGZpbmFu Y2lhbCBzZX J2aWNlcyBp bmNsdWRpbm cgcGVyc29u YWwgYmFua2 luZywgYnVz aW5lc3MgYm Fua2luZywg YW5kIHdlYW x0aCBtYW5h Z2VtZW50Li BJdCBpcyBr bm93biBmb3 IgaXRzIHN0 cm9uZyBjb2 1taXRtZW50 IHRvIGN1c3 RvbWVyIHNl cnZpY2UgYW 5kIGNvbW11 bml0eSBpbn ZvbHZlbWVu dCwgb2Z0ZW 4gcGFydGlj aXBhdGluZy BpbiBsb2Nh bCBkZXZlbG 9wbWVudCBp bml0aWF0aX ZlcyBhbmQg c3VwcG9ydG luZyBjaGFy aXRhYmxlIG 9yZ2FuaXph dGlvbnMuPG JyPkFkZGl0 aW9uYWxseS wgRmlyc3Qg QmFuY29ycC BoYXMgYSBo aXN0b3J5IG 9mIHN0YWJp bGl0eSBhbm QgZ3Jvd3Ro IGluIGl0cy BmaW5hbmNp YWwgcGVyZm 9ybWFuY2Us IG1ha2luZy BpdCBhbiBh cHBlYWxpbm cgY2hvaWNl IGZvciBpbn Zlc3RvcnMu IEl0cyBmb2 N1cyBvbiBl eHBhbmRpbm cgaXRzIGJy YW5jaCBuZX R3b3JrIGFu ZCBlbmhhbm NpbmcgZGln aXRhbCBiYW 5raW5nIHNl cnZpY2VzIG Fsc28gcG9z aXRpb25zIG l0IHdlbGwg dG8gbWVldC B0aGUgZXZv bHZpbmcgbm VlZHMgb2Yg Y3VzdG9tZX JzIGluIGEg Y29tcGV0aX RpdmUgYmFu a2luZyBsYW 5kc2NhcGUu IE92ZXJhbG wsIEZpcnN0 IEJhbmNvcn Agc3RhbmRz IG91dCBmb3 IgaXRzIGRl ZGljYXRpb2 4gdG8gY29t bXVuaXR5IH ZhbHVlcywg Y3VzdG9tZX Igc2F0aXNm YWN0aW9uLC BhbmQgc3Vz dGFpbmFibG UgZ3Jvd3Ro IGluIHRoZS BiYW5raW5n IHNlY3Rvci 48YnI+

Rmlyc3QgQm FuY29ycCBv cGVyYXRlcy BwcmltYXJp bHkgYXMgYS BiYW5rIGhv bGRpbmcgY2 9tcGFueSBm b3IgRmlyc3 QgQmFuaywg d2hpY2ggcH JvdmlkZXMg YSByYW5nZS BvZiBmaW5h bmNpYWwgc2 VydmljZXMu IEl0cyBidX NpbmVzcyBt b2RlbCBmb2 N1c2VzIG9u IHRyYWRpdG lvbmFsIGJh bmtpbmcgYW N0aXZpdGll cywgaW5jbH VkaW5nIGFj Y2VwdGluZy BkZXBvc2l0 cywgb2ZmZX JpbmcgdmFy aW91cyBsb2 FuIHByb2R1 Y3RzLCBhbm QgcHJvdmlk aW5nIHdlYW x0aCBtYW5h Z2VtZW50IG FuZCBpbnZl c3RtZW50IH NlcnZpY2Vz Ljxicj5UaG UgY29tcGFu eSBnZW5lcm F0ZXMgcmV2 ZW51ZSBwcm ltYXJpbHkg dGhyb3VnaC B0aGUgaW50 ZXJlc3QgZW FybmVkIG9u IGxvYW5zLC B3aGljaCBp cyBhIHNpZ2 5pZmljYW50 IHBhcnQgb2 YgaXRzIGlu Y29tZS4gSX QgYWxzbyBl YXJucyBmZW VzIGZyb20g dmFyaW91cy BiYW5raW5n IHNlcnZpY2 VzLCBzdWNo IGFzIGFjY2 91bnQgbWFp bnRlbmFuY2 UsIHRyYW5z YWN0aW9uIH Byb2Nlc3Np bmcsIGFuZC BpbnZlc3Rt ZW50IG1hbm FnZW1lbnQu IEJ5IG1haW 50YWluaW5n IGEgc3Ryb2 5nIGZvY3Vz IG9uIGN1c3 RvbWVyIHJl bGF0aW9uc2 hpcHMgYW5k IGNvbW11bm l0eSBlbmdh Z2VtZW50LC BGaXJzdCBC YW5jb3JwIG FpbXMgdG8g ZGVlcGVuIG N1c3RvbWVy IGxveWFsdH kgYW5kIGlu Y3JlYXNlIG l0cyBtYXJr ZXQgc2hhcm UuPGJyPlRo ZSBiYW5rIG VtcGhhc2l6 ZXMgcHJ1ZG VudCBsZW5k aW5nIHByYW N0aWNlcyBh bmQgcmlzay BtYW5hZ2Vt ZW50IHRvIG Vuc3VyZSBs b25nLXRlcm 0gcHJvZml0 YWJpbGl0eS BhbmQgc3Rh YmlsaXR5Li BBZGRpdGlv bmFsbHksIE ZpcnN0IEJh bmNvcnAgcH Vyc3VlcyBz dHJhdGVnaW VzIHN1Y2gg YXMgZXhwYW 5kaW5nIGl0 cyBicmFuY2 ggbmV0d29y ayBhbmQgZW 5oYW5jaW5n IGRpZ2l0YW wgYmFua2lu ZyBzZXJ2aW NlcyB0byBt ZWV0IGNoYW 5naW5nIGN1 c3RvbWVyIH ByZWZlcmVu Y2VzIGFuZC BpbXByb3Zl IG9wZXJhdG lvbmFsIGVm ZmljaWVuY3 kuPGJyPkZ1 cnRoZXIsIH RoZSBjb21w YW55IG9mdG VuIGVuZ2Fn ZXMgaW4gY2 9tbXVuaXR5 IGRldmVsb3 BtZW50IGlu aXRpYXRpdm VzLCB3aGlj aCBoZWxwIH RvIHN0cmVu Z3RoZW4gaX RzIGxvY2Fs IHByZXNlbm NlIGFuZCBi dWlsZCBnb2 9kd2lsbCwg Y29udHJpYn V0aW5nIHRv IGl0cyBvdm VyYWxsIGJ1 c2luZXNzIH N1c3RhaW5h YmlsaXR5IG FuZCBncm93 dGggcG90ZW 50aWFsLjxi cj4=

The sensitivity of First Bancorp’s earnings, cash flow, and valuation to changes in interest rates can be analyzed through several key factors:
1. Earnings Sensitivity: First Bancorp, like other financial institutions, earns a significant portion of its revenue from the interest spread between the interest it pays on deposits and the interest it earns on loans. A rise in interest rates may initially lead to increased earnings, as the bank could charge higher rates on loans while its deposit costs rise more slowly. Conversely, if interest rates decline, the bank may see its loan interest income decrease more rapidly than the decrease in deposit rates, potentially reducing earnings.
2. Cash Flow Impact: Cash flow from operations can also be influenced by interest rate changes, particularly through loan origination activity and prepayment speeds. Higher interest rates can lead to a slowdown in loan origination and increase in prepayment penalties, while lower rates might encourage borrowing and refinancing, impacting cash inflows. Additionally, the timing of cash flows related to asset-liability management can be affected by interest rate changes.
3. Valuation Sensitivity: The overall valuation of First Bancorp may be impacted by interest rates through changes in the discount rate used in valuation models. Higher interest rates often lead to a higher discount rate, which can lower the present value of future cash flows and earnings. Additionally, the perceived risk associated with higher interest environments may change investor sentiment, further affecting stock valuation.
In summary, First Bancorp’s earnings, cash flow, and valuation are sensitive to interest rate changes due to their reliance on interest spreads, the dynamics of loan demand and prepayments, and the overall financial market environment that affects discount rates. It’s essential for investors to monitor interest rate trends to assess potential impacts on the company’s financial performance.

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvYj FQS2h2UzIz cjFXSm4zbU hGenEud2Vi cCIgYWx0PS JGaXJzdCBC YW5jb3JwIi B0aXRsZT0i Rmlyc3QgQm FuY29ycCIg IGNsYXNzPS JpbWctZmx1 aWQiIGhlaW dodD05MCB3 aWR0aD05MC Bsb2FkaW5n PSdsYXp5Jy BzdHlsZT0n Ym9yZGVyLX JhZGl1czog NnB4Oyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxk aXYgc3R5bG U9J2ZsZXg6 IDE7IHRleH QtYWxpZ246 IGNlbnRlcj sgbWFyZ2lu LWxlZnQ6ID VweDsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8cCBzdHls ZT0nZm9udC 1zaXplOiAy NnB4OyBjb2 xvcjogIzMz MzsgbWFyZ2 luLWJvdHRv bTogMTVweD snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Ag8J+TiCBX YW50IHRvIH JlYWQgbW9y ZSBhYm91dC BGaXJzdCBC YW5jb3JwPw ogICAgICAg ICAgICAgIC AgICAgICAg ICA8L3A+Cg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8YSBocm VmPSdpbmRl eC5waHA/cG FnZT1zaWdu dXAnIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICMw MDdCRkY7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBjb2 xvcjogI2Zm ZjsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IHBhZGRpbm c6IDEwcHgg MjBweDsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGJvcm Rlci1yYWRp dXM6IDVweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH RleHQtZGVj b3JhdGlvbj ogbm9uZTsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGZv bnQtd2VpZ2 h0OiBib2xk OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luLX JpZ2h0OiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgdHJhbn NpdGlvbjog YmFja2dyb3 VuZC1jb2xv ciAwLjNzIG Vhc2U7Jwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgb25t b3VzZW92ZX I9J3RoaXMu c3R5bGUuYm Fja2dyb3Vu ZENvbG9yPS IjMDA1NmIz IicKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IG9ubW91c2 VvdXQ9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA3 QkZGIic+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBTaW duIHVwIGZv ciBmcmVlCi AgICAgICAg ICAgICAgIC AgICAgICAg IDwvYT4KCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxzcGFuIH N0eWxlPSdt YXJnaW46ID AgOHB4OyBj b2xvcjogIz U1NTsnPm9y PC9zcGFuPg oKICAgICAg ICAgICAgIC AgICAgICAg ICAgPGEgaH JlZj0naW5k ZXgucGhwP3 BhZ2U9bG9n aW4nIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGNvbG9y OiAjMDA3Qk ZGOwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdGV4dC1k ZWNvcmF0aW 9uOiB1bmRl cmxpbmU7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBmb2 50LXdlaWdo dDogNTAwOy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bsb2cgaW4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9hPgoK CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxwIHN0 eWxlPSdtYX JnaW4tdG9w OiAxNXB4Oy Bmb250LXNp emU6IDEzcH g7IGZvbnQt d2VpZ2h0Oi Bib2xkOyBj b2xvcjogI2 QzMmYyZjsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg 8J+TmCBDbG FpbSB5b3Vy IGZyZWUgZU Jvb2s6IDxp PiJUaGUgQ2 hlY2tsaXN0 IFZhbHVlIE ludmVzdG9y IOKAlCBBIF NtYXJ0ZXIg V2F5IHRvIF BpY2sgU3Rv Y2tzIjwvaT 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9wPg oKICAgICAg ICAgICAgIC AgICAgICAg ICAgPCEtLQ ogICAgICAg ICAgICAgIC AgICAgICAg ICA8ZGl2IH N0eWxlPSdt YXJnaW4tdG 9wOiAxMnB4 OyBmb250LX NpemU6IDEz cHg7IGNvbG 9yOiAjNDQ0 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBTaWduIH VwIG5vdyBh bmQgZ2V0IG 91ciBmcmVl IGVCb29rIA ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgPG I+VGhlIENo ZWNrbGlzdC BWYWx1ZSBJ bnZlc3Rvci DigJQgQSBT bWFydGVyIF dheSB0byBQ aWNrIFN0b2 NrczwvYj4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9kaXY+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIC0tPgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8IS0tCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xkaXYgc3R5 bGU9J21hcm dpbi10b3A6 IDE2cHg7IG ZvbnQtc2l6 ZTogMTRweD sgY29sb3I6 ICM0NDQ7IG ZvbnQtZmFt aWx5OiAtYX BwbGUtc3lz dGVtLCBCbG lua01hY1N5 c3RlbUZvbn QsIFNlZ29l IFVJLCBSb2 JvdG8sIEhl bHZldGljYS BOZXVlLCBz YW5zLXNlcm lmOyBsaW5l LWhlaWdodD ogMS42Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBI YXZlIHlvdS BoZWFyZCBh Ym91dCBvdX Igc2hvcnQg PHN0cm9uZy BzdHlsZT0n Zm9udC13ZW lnaHQ6IDYw MDsnPkRhaW x5IFZpZGVv IE5ld3NsZX R0ZXI8L3N0 cm9uZz4/Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICA8YS BocmVmPSdo dHRwczovL3 d3dy5pbnNp Z2h0ZnVsdm FsdWUuY29t L25ld3NsZX R0ZXIucGhw JyB0YXJnZX Q9J19ibGFu aycgc3R5bG U9J2NvbG9y OiAjMDA3Qk ZGOyB0ZXh0 LWRlY29yYX Rpb246IG5v bmU7IGZvbn Qtd2VpZ2h0 OiA1MDA7IG 1hcmdpbi1s ZWZ0OiA2cH g7Jz4KICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBG aW5kIG91dC Btb3JlCiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICA8L2E+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvZGl2 PgogICAgIC AgICAgICAg ICAgICAgIC AgICAtLT4K ICAgICAgIC AgICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICA8L2Rpdj 4KICAgICAg ICAgICAgCi AgICAgICAg CiAgICAgIC AgPHNwYW4g Y2xhc3M9J2 JsdXJyZWQt dGV4dCc+Ci AgICAgICAg ICAgIFJtbH ljM1FnUW0g RnVZMjl5Y0 NCcCBjeUJo SUdKaGJtIH NnYUc5c1pH bHUgWnlCam IyMXdZVyA1 NUlIUm9ZWF FnIGIzQmxj bUYwWlggTW djSEpwYldG eSBhV3g1SU hSb2NtIDkx WjJnZ2FYUn ogSUhOMVlu TnBaRyBsaG Nua3NJRVpw IGNuTjBJRU poYm0gc3VJ RWhsY21VZy BZWEpsSUhO dmJXIFVnYV c1MFpYSmwg YzNScGJtY2 dabSBGamRI TWdZV0p2IG RYUWdkR2hs SUcgTnZiWE JoYm5rNiBQ R0p5UGpFdU lFIHh2WTJG MGFXOXUgT2 lCR2FYSnpk QyBCQ1lXNW piM0p3IElH bHpJR2hsWV cgUnhkV0Z5 ZEdWeSBaV1 FnYVc0Z1Uy IDkxZEdobG NtNGcgVUds dVpYTXNJRS A1dmNuUm9J RU5oIGNtOX NhVzVoTEMg QmhibVFnYV hRZyBjSEpw YldGeWFXIH g1SUhObGNu WmwgY3lCam IyMXRkVyA1 cGRHbGxjeU JwIGJpQjBh R1VnY20gVm 5hVzl1TGp4 aSBjajR5TG lCRmMzIFJo WW14cGMyaH QgWlc1ME9p QlVhRyBVZ1 ltRnVheUIw IGFHRjBJR1 p2Y20gMXpJ SFJvWlNCai BiM0psSUc5 bUlFIFpwY2 5OMElFSmgg Ym1OdmNuQW dkMiBGeklH VnpkR0ZpIG JHbHphR1Zr SUcgbHVJRE U1TXpVcyBJ R2RwZG1sdV p5IEJwZENC aElHeHYgYm 1jZ2FHbHpk RyA5eWVTQn BiaUIwIGFH VWdZbUZ1YT IgbHVaeUJw Ym1SMSBjM1 J5ZVM0OFlu IEkrTXk0Z1 IzSnYgZDNS b09pQlBkbS BWeUlIUm9a U0I1IFpXRn ljeXdnUm0g bHljM1FnUW 1GdSBZMjl5 Y0NCb1lYIE 1nWlhod1lX NWsgWldRZ2 FYUnpJRyBa dmIzUndjbW x1IGRDQjBh SEp2ZFcgZG 9JSE4wY21G MCBaV2RwWX lCaFkzIEYx YVhOcGRHbH YgYm5NZ1lX NWtJRyA5eV oyRnVhV01n IFozSnZkM1 JvTEMgQnRZ V3RwYm1jZy BhWFFnYjI1 bElHIDltSU hSb1pTQnMg WVhKblpYSW dZMiA5dGJY VnVhWFI1IE lHSmhibXR6 SUcgbHVJRT V2Y25SbyBJ RU5oY205c2 FXIDVoTGp4 aWNqNDAgTG lCVFpYSjJh VyBObGN6b2 dSbWx5IGMz UWdRbUZ1YX kgQnZabVps Y25NZyBZU0 IzYVdSbElI IEpoYm1kbE lHOW0gSUda cGJtRnVZMi BsaGJDQnpa WEoyIGFXTm xjeXdnYVcg NWpiSFZrYV c1biBJSEJs Y25OdmJtIE ZzSUdGdVpD QmogYjIxdF pYSmphVyBG c0lHSmhibX RwIGJtY3NJ RzF2Y24gUm 5ZV2RsSUd4 bCBibVJwYm 1jc0lHIEZ1 WkNCM1pXRn MgZEdnZ2JX RnVZVyBkbG JXVnVkQzQ4 IFluSStOUz RnUTIgOXRi WFZ1YVhSNS BJRVp2WTNW ek9pIEJVYU dVZ1kyOXQg Y0dGdWVTQm xiWCBCb1lY TnBlbVZ6IE lHTnZiVzEx Ym0gbDBlU0 JwYm5adiBi SFpsYldWdW RDIEJoYm1R Z2MzVncgY0 c5eWRDd2da VyA1bllXZH BibWNnIGFX NGdkbUZ5YV cgOTFjeUJq YUdGeSBhWF JoWW14bElH IGx1YVhScF lYUnAgZG1W eklHRnVaQy BCc2IyTmhi Q0JsIGRtVn VkSE1nZEcg OGdabTl6ZE dWeSBJR052 YlcxMWJtIG wwZVNCa1pY WmwgYkc5d2 JXVnVkQyA0 OFluSStOaT RnIFJtbHVZ VzVqYVcgRn NJRkJsY21a diBjbTFoYm 1ObE9pIEJH YVhKemRDQk MgWVc1amIz SndJRyBoaG N5Qm5aVzVs IGNtRnNiSG tnYzIgaHZk MjRnWTI5dS BjMmx6ZEdW dWRDIEJtYV c1aGJtTnAg WVd3Z1ozSn ZkMyBSb0lH OTJaWElnIG RHaGxJSGxs WVggSnpMQ0 J2Wm5SbCBi aUJ5Wldac1 pXIE4wYVc1 bklITjAgY2 05dVp5QmxZ WCBKdWFXNW 5jeUJoIGJt UWdZU0JqYj IgMXRhWFJ0 Wlc1MCBJSF J2SUcxaGFX IDUwWVdsdW FXNW4gSUdo bFlXeDBhSC BrZ1ptbHVZ VzVqIGFXRn NJSEpoZEcg bHZjeTQ4WW 5JKyBOeTRn VkdWamFHID V2Ykc5bmVU b2cgVkdobE lHSmhibSBz Z2FXNTJaWE 4wIGN5QnBi aUIwWlcgTm 9ibTlzYjJk NSBJR0Z1Wk NCa2FXIGRw ZEdGc0lHSm ggYm10cGJt Y2djMiA5c2 RYUnBiMjV6 IElIUnZJR1 Z1YUcgRnVZ MlVnWTNWei BkRzl0WlhJ Z1pYIGh3Wl hKcFpXNWog WlNCaGJtUW djMyBSeVpX RnRiR2x1IF pTQnZjR1Z5 WVggUnBiMj V6TENCciBa V1Z3YVc1bk lIIEJoWTJV Z2QybDAgYU NCMGFHVWda WCBadmJIWn BibWNnIFpt bHVZVzVqYV cgRnNJR3ho Ym1SeiBZMk Z3WlM0OFlu IEkrT0M0Z1 JXMXcgYkc5 NVpXVWdSVy A1bllXZGxi V1Z1IGREb2 dSbWx5YzMg UWdRbUZ1WT I5eSBjQ0Iy WVd4MVpYIE 1nYVhSeklH VnQgY0d4dm VXVmxjeSBC aGJtUWdjM1 J5IGFYWmxj eUIwYnkgQm pjbVZoZEdV ZyBZU0J3Yj NOcGRHIGwy WlNCM2IzSn IgSUdWdWRt bHliMiA1dF pXNTBMQ0J2 IFpuUmxiaU JtWlcgRjBk WEpwYm1jZy BaVzF3Ykc5 NVpXIFVnWk dWMlpXeHYg Y0cxbGJuUW djSCBKdloz SmhiWE1nIF lXNWtJR0ps Ym0gVm1hWF J6TGp4aSBj ajQ1TGlCUW RXIEpzYVdO c2VTQlUgY2 1Ga1pXUTZJ RSBacGNuTj BJRUpoIGJt TnZjbkFnYV ggTWdjSFZp YkdsaiBiSG tnZEhKaFpH IFZrSUc5dU lIUm8gWlNC T1FWTkVRVi BFZ2RXNWta WElnIGRHaG xJSFJwWTIg dGxjaUJ6ZV cxaSBiMndn UmtKT1F5IH dnWVd4c2Iz ZHAgYm1jZ2 FYUWdkRyA4 Z2NtRnBjMl VnIFkyRndh WFJoYkMgQm hibVFnY0hK diBkbWxrWl NCc2FYIEYx YVdScGRIa2 cgWm05eUlH bHVkbSBWem RHOXljeTQ4 IFluSStNVE F1SUYgSmxa M1ZzWVhSdi BjbmtnUlc1 MmFYIEp2Ym 0xbGJuUTYg SUVGeklHRW dabSBsdVlX NWphV0ZzIE lHbHVjM1Jw ZEggVjBhVz l1TENCRyBh WEp6ZENCQ1 lXIDVqYjNK d0lHOXcgWl hKaGRHVnpJ SCBWdVpHVn lJSFJvIFpT QnlaV2QxYk cgRjBiM0o1 SUc5MiBaWE p6YVdkb2RD IEJ2WmlCMl lYSnAgYjNW eklHWmxaRy BWeVlXd2dZ VzVrIElITj BZWFJsSUcg Rm5aVzVqYV dWeiBMQ0Js Ym5OMWNtIG x1WnlCamIy MXcgYkdsaG JtTmxJSCBk cGRHZ2dZbU Z1IGEybHVa eUJ5WlcgZD FiR0YwYVc5 dSBjeUJoYm 1RZ2MzIFJo Ym1SaGNtUn ogTGp4aWNq ND0KICAgIC AgICA8L3Nw YW4+CiAgIC AgICAgCiAg ICAgICAg
See Company Q&A