FBNC, FBP: First Bancorp Posts Q1 Profit Growth and Book Value Surge

First Bancorp Posts Q1 Profit Growth and Book Value Surge

Apr 22, 2026 11:47 UTC

FBNC, FBP

Short term

First Bancorp (FBNC, FBP) announced its financial results for the first quarter of 2026, revealing a steady increase in profitability across key metrics. The company reported net income of $88.78 million, marking a notable rise from the $77.06 million recorded during the same period last year. The growth was supported by a combination of expanded net interest income and improved noninterest revenue, reflecting the bank's operational efficiency and current lending environment. This performance has led to a positive reaction in early trading sessions. Specific financial highlights include earnings and adjusted earnings per share rising to $0.57, up from $0.47 in the prior year. Net interest income grew to $220.96 million from $212.40 million, while noninterest income increased to $37.69 million from $35.73 million. A standout figure in the report was the surge in book value per share, which climbed to $12.72 from $10.91. Following the announcement, shares on the New York Stock Exchange rose 1.29% to $24.35 in pre-market activity.

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First Bancorp Posts Q1 Profit Growth and Book Value Surge

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