First Bancorp reports Q2 EPS 93c, consensus 87c

Q2 NIM expanded to 3.32% from 3.25% for the linked quarter and 2.84% for the like quarter. Tangible book value per share is $25.82 from $24.69 in the previous quarter. Common equity tier 1 capital ratio was 14.62% vs. 14.52% in the previous quarter. CEO Richard Moore stated “First Bancorp (FBNC) continues to improve financial results in 2025 as Q2 net income was $38.6M and diluted EPS was 93c, both resulting from expanded net interest margin and disciplined expense management. We improved our liquidity position and increased our capital levels, while credit quality remains strong with low levels of charge-offs and nonperforming assets. We grew loans 6% annualized in the quarter and benefited from our favorable cost of funds and increased yields on our earning assets. Our Board also increased our quarterly dividend to 23c per share effective June 30, 2025. We are very pleased with the Bank’s performance halfway through this year.”