First Bancorp Q3 net income down on noninterest expenses

First Bancorp (North Carolina)

22/10/2025 21:22

Overview

First Bancorp Q3 net income declines from linked quarter, rises from like quarter

Adjusted EPS for Q3 2025 improves, excluding securities loss

Net interest income and margin rise in Q3 2025

Outlook

Company did not provide specific guidance for future quarters

Result Drivers

LOAN GROWTH - First Bancorp accelerated loan growth in Q3, increasing total loans by $193.6 mln

SECURITIES TRANSACTION - A securities loss-earnback transaction led to a $27.9 mln loss

EXPENSE MANAGEMENT - Noninterest expenses rose slightly due to increased personnel costs

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.49
Q3 Net Income
$20.36 mln
Q3 Net Interest Income
$102.5 mln
Q3 Net Interest Margin
3.46%


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 $55.50, about 12.1% above its October 21 closing price of $48.79

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

Press Release: ID:nPnNWfXja

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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.)