First Bancorp North Carolina Q1 net income rises 28%

First Bancorp (North Carolina)

22/04/2026 21:15

Overview

US regional bank's Q1 net income and diluted EPS rose year-over-year

Net interest income and margin improved from prior year

Company cites balance sheet management, margin expansion, and expense control as drivers

Outlook

Company did not provide specific guidance for the current or future periods

Result Drivers

NET INTEREST INCOME EXPANSION - Co said net interest income margin rose due to lower deposit costs and a shift toward higher-yielding loans and securities

EXPENSE CONTROL - Noninterest expenses fell from the prior quarter, driven by lower personnel and other operating costs

NONINTEREST INCOME GAINS - Higher SBA loan sale gains and other income lifted noninterest income year-over-year

Company press release: ID:nPn84rhgca

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$1.13
Q1 Net Income
$46.66 mln
Q1 Net Interest Income
$107.12 mln
Q1 Net Interest Margin
3.67%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "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 $65.50, about 10.7% above its April 21 closing price of $59.16

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)