Brief: First Bancorp North Carolina Q2 EPS USD 0.93

First Bancorp (North Carolina)

23/07/2025 21:05

Overview

First Bancorp Q2 net income rises to $38.6 mln, driven by improved NIM

Diluted EPS for Q2 increases to $0.93, reflecting disciplined expense management

Company raises quarterly dividend to $0.23 per share, indicating financial confidence

Outlook

Company focuses on managing deposit costs and increasing loan yields

First Bancorp maintains strong credit quality with low charge-offs

Company improves liquidity position and capital levels

Result Drivers

NET INTEREST INCOME - Driven by strategic management of deposit costs and increased loan yields

SECURITIES YIELD - Purchase of CMOs yielding 5.16% contributed to improved securities yield

EXPENSE MANAGEMENT - Disciplined approach helped control noninterest expenses despite slight increases

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$0.93
Q2 Net Income
$38.57 mln
Q2 Net Interest Income
$96.68 mln
Q2 Net Interest Margin
3.33%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for First Bancorp (North Carolina) is $49.00, about 4.3% above its July 22 closing price of $46.87

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nPn4TdK9Ha

(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.)