10-K · February 25, 2026
First Bancorp reported stronger 2025 core earnings driven by higher net interest income: net income rose to $111.048 million and diluted EPS to $2.68 while net interest income increased to $398.247 million. The balance…
Earnings analysis · 10-Q
FBNC earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
First Bancorp reported a strong Q1 2026, with net income climbing to $46.7 million, or $1.13 per share, up from $36.4 million, or $0.88 per share, in the prior year, driven by increased net interest income. While…
Read full summary
First Bancorp reported a strong Q1 2026, with net income climbing to $46.7 million, or $1.13 per share, up from $36.4 million, or $0.88 per share, in the prior year, driven by increased net interest income. While revenue slightly missed expectations at $122.3 million vs. $123.1 million estimate, improvements in loan yields and lower interest expenses contributed to an overall positive trend in operating metrics. The liquidity position remains robust with a notable increase in cash and equivalents.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.13
What stood out
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EPS Growth of 28.4% YoY
Diluted EPS improved to $1.13 from $0.88 in Q1 2025, reflecting strong profitability growth.
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Strong Net Interest Income
Net interest income rose 15.4% to $107.1 million from $92.8 million in Q1 2025, driven by higher yields on loans.
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Solid Increase in Total Deposits
Total deposits grew by $264.1 million, reaching $11.0 billion as of March 31, 2026.
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Controlled Noninterest Expenses
Noninterest expenses increased only 4.0% to $60.2 million, highlighting effective cost management.
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Loan Portfolio Growth
Total loans increased by $71.4 million, or 0.8%, to $8.8 billion from December 31, 2025.
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Improving Liquidity Ratios
On-balance sheet liquidity ratio improved to 16.7%, up from 14.9% at December 31, 2025.
What to watch
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NPAs Up Slightly
Nonperforming assets increased to $41.8 million or 0.32% of total assets from $37.7 million at year-end.
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Credit Loss Provisions Higher
Provision for credit losses rose to $3.1 million from $1.1 million in Q1 2025, indicating potential future loan quality concerns.
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Unrealized Losses on AFS Securities
Unrealized losses on AFS securities grew to $197.7 million as of March 31, 2026, raising concern over market risk.
Management's outlook
Management noted continued focus on improving loan yields and lowering costs but did not provide explicit numeric guidance.
Earlier filings 4
10-Q · November 7, 2025
First Bancorp reported Q3 2025 net income of $20.363M and diluted EPS of $0.49, up from $18.680M and $0.45 a year ago, driven by higher net interest income of $102.489M. Total revenue (net interest income plus…
10-Q · August 7, 2025
First Bancorp reported Q2 2025 net revenue of $111,017,000 and diluted EPS of $0.93, both up vs. Q2 2024 (net interest income rose to $96,676,000 from $81,115,000). Deposits and cash strengthened — cash and cash…
10-K · February 26, 2025
First Bancorp has reported a challenging year with Q4 2024 revenue significantly missing estimates at $65.7 million against an anticipated $101.1 million, while the diluted EPS was slightly above expectations at $0.76.…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.