First Bancorp Earnings Reports

First Bancorp reported a net income of $3.6 million, or $0.08 diluted earnings per share, for the three months ended December 31, 2024. Adjusted net income for the quarter was $31.7 million, or an adjusted $0.76 diluted earnings per share.

First Bancorp reported a net income of $18.7 million, or $0.45 per diluted common share, for the third quarter of 2024. These results include the potential impacts of Hurricane Helene of $13.4 million ($10.3 million after-taxes). Adjusted net income increased to $29.0 million for the third quarter of 2024 from $28.7 million in the linked quarter.

First Bancorp reported a strong second quarter with net income of $28.7 million, or $0.70 per diluted common share. The company experienced growth in customer deposits, reductions in borrowings and brokered deposits, and improved asset yields, contributing to an increase in net interest margin.

First Bancorp reported a net income of $25.3 million, or $0.61 per diluted common share, for the three months ended March 31, 2024. Loans totaled $8.1 billion, reflecting a $73.6 million contraction for the quarter, while year-over-year, loans grew $277.5 million. The on-balance sheet liquidity ratio was 15.5% at March 31, 2024, up from 14.6% for the linked quarter.

First Bancorp reported a net income of $29.7 million for Q4 2023, a decrease compared to both the linked quarter and the same period last year. The company focused on maintaining customer relationships and managing risk, while also seeing growth in loans.

First Bancorp reported a net income of $29.9 million, or $0.73 per diluted common share, for the third quarter of 2023. The company saw growth in loans and total market deposits, and maintained strong credit quality and capital ratios. However, net interest income decreased slightly due to rising deposit rates.

First Bancorp reported net income of $29.4 million, or $0.71 per diluted common share, for the second quarter of 2023. The results were impacted by the GrandSouth acquisition, which contributed significantly to loans and deposits. The company focused on balance sheet enhancement through selective loan growth and deposit attraction.

First Bancorp reported net income of $15.2 million, or $0.37 per diluted common share, for the first quarter of 2023. The results were impacted by charges associated with the acquisition of GrandSouth Bancorporation, including merger expenses and a one-time loan loss provision.

First Bancorp reported a strong fourth quarter with net income of $38.4 million, or $1.08 per diluted common share, compared to $10.5 million, or $0.30 per diluted common share, in the fourth quarter of 2021. The company's credit quality remained strong and total loans outstanding increased by $139.9 million during the quarter.

First Bancorp reported a solid third quarter with increased core earnings, strong loan growth, expanded net interest margin, and controlled expenses. Net income for the quarter was $37.9 million, or $1.06 per diluted common share, compared to $36.6 million, or $1.03 per diluted common share for the linked quarter and $27.6 million, or $0.97 per diluted common share, in the third quarter of 2021.