First Bancorp's Q1 net income rises 27% on margin gains

First Bancorp

22/04/2026 21:26

Overview

US community bank's Q1 net income rose 27% yr/yr

Net interest margin expanded to 2.86%, efficiency ratio improved to 52.64%

Outlook

Company did not provide specific guidance for future quarters or the full year

Result Drivers

NET INTEREST MARGIN EXPANSION - Co said higher yields on earning assets and reduced funding costs drove margin improvement

NON-INTEREST INCOME GROWTH - Increased wealth management and other operating income contributed to higher non-interest income

Company press release: ID:nBwzcJgHa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.80
Q1 Net Income
$8.99 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)