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Dec 31, 2022
First Bancorp Q4 2022 Earnings Report
Reported net income of $38.4 million for the fourth quarter of 2022.
Key Takeaways
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.
Net income was $38.4 million, or $1.08 per diluted common share.
Total loans outstanding increased by $139.9 million (8.5% annualized).
Nonperforming assets to total assets ratio decreased to 0.36%.
Net interest income for the fourth quarter of 2022 was $84.4 million.
First Bancorp
First Bancorp
Forward Guidance
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which statements are inherently subject to risks and uncertainties.