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Dec 31, 2025
First Bancorp Q4 2025 Earnings Report
First Bancorp reported lower GAAP earnings in Q4 2025 due to a securities loss, but delivered strong adjusted results, driven by loan growth and margin expansion.
Key Takeaways
First Bancorp's Q4 2025 results were impacted by a $43.7M securities loss, but underlying performance was strong with adjusted EPS of $1.19. The bank saw healthy loan growth, improved NIM, and disciplined expense management.
Reported net income was $15.7 million, impacted by a $43.7M securities loss
Adjusted EPS reached $1.19, up from $1.01 in the previous quarter
Net interest margin expanded to 3.58%, reflecting higher asset yields
Loans grew at a 14.3% annualized rate to $8.7 billion
Forward Guidance
First Bancorp enters 2026 with solid momentum, highlighting improving NIM, asset yields, and loan growth, though capital ratios declined slightly due to loan expansion and debt repayment.
Positive Outlook
- Loan growth exceeded $300M during the quarter
- Yield on securities improved to 2.69% with new purchases yielding 4.36%
- Cost of funds decreased by 15 basis points
- Expense management remained strong amid seasonal pressures
- Nonperforming asset levels remained low at 0.30% of total assets
Challenges Ahead
- Net income was impacted by a $43.7M securities loss
- Capital ratios declined slightly due to loan growth and debt repayment
- Cash and cash equivalents dropped 48% from prior quarter
- Customer deposits declined by $132.8M
Historical Earnings Impact
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Avg. Return Before/After Earnings
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