First BanCorp Reports Earnings Growth in Q1
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 22 2026
0mins
Should l Buy FBNC?
Source: NASDAQ.COM
- Earnings Growth: First BanCorp reported Q1 earnings of $88.77 million, translating to $0.57 per share, which is a significant increase from last year's $77.05 million and $0.47 per share, indicating improved profitability.
- Adjusted Earnings: Excluding items, the adjusted earnings for First BanCorp stood at $88.72 million, with an EPS of $0.57, reflecting a stable performance in its core operations.
- Revenue Increase: The company's revenue rose by 1.0% year-over-year to $279.84 million, compared to $277.06 million last year, showcasing ongoing growth potential in its business.
- Positive Market Reaction: The dual growth in earnings and revenue may bolster investor confidence in First BanCorp, potentially leading to a positive impact on the company's stock performance.
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Analyst Views on FBNC
Wall Street analysts forecast FBNC stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 57.790
Low
58.00
Averages
60.67
High
62.00
Current: 57.790
Low
58.00
Averages
60.67
High
62.00
About FBNC
First Bancorp is a bank holding company. The principal activity of the Company is the ownership and operation of the First Bank (the Bank), a state-chartered bank with its main office in Southern Pines, North Carolina. Through its subsidiaries, the Bank provides full-service commercial and consumer banking services, mortgage banking services, automobile financing, insurance agency services, and other financial products and services. The Bank maintains a diversified loan portfolio by providing a broad range of commercial and retail lending services to business entities and individuals. The Bank provides commercial business loans, commercial and residential real estate construction and mortgage loans, revolving lines of credit, letters of credit, and loans for personal uses, such as home improvement, and automobiles. The Bank offers a full range of deposit accounts and services to both retail and commercial customers. The Bank operates over 113 branches.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
First Bancorp Reports Strong Q1 Earnings
- Earnings Performance: First Bancorp reported a Q1 non-GAAP EPS of $1.13, exceeding market expectations, which indicates a sustained enhancement in the company's profitability and may attract more investor interest.
- Revenue Growth: The company achieved revenues of $122.2 million in Q1, reflecting a year-over-year increase that showcases strong business expansion and market demand, further solidifying its position in the financial services sector.
- Financial Health Indicators: First Bancorp's financial metrics continue to improve, demonstrating effectiveness in risk management and asset allocation, laying a solid foundation for future growth and boosting investor confidence.
- Dividend Performance: The bank's strong dividend scorecard indicates a commitment to shareholder returns, which may attract income-seeking investors and enhance its market appeal.
See More
First BanCorp Reports Earnings Growth in Q1
- Earnings Growth: First BanCorp reported Q1 earnings of $88.77 million, translating to $0.57 per share, which is a significant increase from last year's $77.05 million and $0.47 per share, indicating improved profitability.
- Adjusted Earnings: Excluding items, the adjusted earnings for First BanCorp stood at $88.72 million, with an EPS of $0.57, reflecting a stable performance in its core operations.
- Revenue Increase: The company's revenue rose by 1.0% year-over-year to $279.84 million, compared to $277.06 million last year, showcasing ongoing growth potential in its business.
- Positive Market Reaction: The dual growth in earnings and revenue may bolster investor confidence in First BanCorp, potentially leading to a positive impact on the company's stock performance.
See More
Wall Street Earnings Season Faces Major Test
- Earnings Season Significance: Wall Street is set for a packed earnings season featuring key companies like Capital One and Boeing, with investors eager to glean insights into the economic impact of the Iran war from these reports.
- Capital One Performance Focus: Capital One is scheduled to report earnings on Tuesday, with market attention on its consumer health metrics and the progress of its acquisitions of Discover and Brex, particularly amid rising economic uncertainties.
- Boeing Earnings Outlook: Boeing is expected to release its earnings report on Wednesday, with market focus on order volumes in both its commercial and defense sectors, as well as free cash flow performance, especially after previous unexpected losses.
- GE Vernova Order Growth: GE Vernova will report alongside Boeing, with first-quarter new orders anticipated to reach $14.4 billion, reflecting a 65% year-over-year increase, indicating strong market performance amid rising electricity demand.
See More
First Bank Appoints Will Aiken as Managing Director of Specialty Businesses
- Executive Appointment: First Bank has appointed Will Aiken as Managing Director of Specialty Businesses, aiming to enhance the bank's expansion in key areas and boost shareholder value and long-term growth potential.
- Extensive Experience: Aiken brings over 20 years of banking experience with a focus on credit, risk management, and specialty lending, which is expected to significantly impact First Bank's business development.
- Strategic Focus: This appointment reflects First Bank's ongoing efforts to meet customer needs and support their growth, highlighting its commitment to building specialized capabilities.
- Asset Scale: As the banking subsidiary of First Bancorp, First Bank manages approximately $12.7 billion in assets and operates 113 branches in North Carolina and South Carolina, showcasing its strong presence in the community banking sector.
See More
Old North State Trust Fully Sells First Bancorp Shares
- Shareholding Change: Old North State Trust sold all 72,921 shares of First Bancorp in Q4, with an estimated transaction value of $3.70 million, indicating a decline in confidence towards the stock.
- Asset Management Impact: The sale reduced First Bancorp's position from 2.3% to zero in the fund, reflecting a strategic shift that may affect future portfolio allocations.
- Financial Performance: Although First Bancorp's stock rose over 30% in the past year, a significant securities loss led to a quarterly net income drop to $15.7 million, highlighting the complexity of its profitability.
- Market Outlook: Analysts noted that First Bancorp was not included in the current list of top recommended stocks, suggesting a cautious market sentiment regarding its future growth potential.
See More
Old North State Trust Fully Exits First Bancorp Position
- Holding Change: Old North State Trust reported in an SEC filing dated March 24, 2026, that it has completely sold its 72,921 shares of First Bancorp, with an estimated trade value of $3.70 million, indicating a potential decline in confidence in the bank's future prospects.
- Portfolio Adjustment: This transaction reduced Old North State Trust's position in First Bancorp from 2.3% of AUM in the previous quarter to zero, suggesting a strategic shift towards larger growth companies to mitigate risks associated with smaller regional banks.
- Company Performance: As of March 23, 2026, First Bancorp shares were priced at $54.18, reflecting a 33.1% increase over the past year, significantly outperforming the S&P 500 by 20.25 percentage points, highlighting its strong market performance.
- Earnings Complexity: Despite First Bancorp's net interest income reaching approximately $106 million in Q4 and loan balances increasing to about $8.7 billion, a significant securities loss led to a quarterly net income drop to $15.7 million, illustrating the complexities in its earnings picture.
See More
First Bancorp Reports Strong Q1 Earnings
- Earnings Performance: First Bancorp reported a Q1 non-GAAP EPS of $1.13, exceeding market expectations, which indicates a sustained enhancement in the company's profitability and may attract more investor interest.
- Revenue Growth: The company achieved revenues of $122.2 million in Q1, reflecting a year-over-year increase that showcases strong business expansion and market demand, further solidifying its position in the financial services sector.
- Financial Health Indicators: First Bancorp's financial metrics continue to improve, demonstrating effectiveness in risk management and asset allocation, laying a solid foundation for future growth and boosting investor confidence.
- Dividend Performance: The bank's strong dividend scorecard indicates a commitment to shareholder returns, which may attract income-seeking investors and enhance its market appeal.
See More
First BanCorp Reports Earnings Growth in Q1
- Earnings Growth: First BanCorp reported Q1 earnings of $88.77 million, translating to $0.57 per share, which is a significant increase from last year's $77.05 million and $0.47 per share, indicating improved profitability.
- Adjusted Earnings: Excluding items, the adjusted earnings for First BanCorp stood at $88.72 million, with an EPS of $0.57, reflecting a stable performance in its core operations.
- Revenue Increase: The company's revenue rose by 1.0% year-over-year to $279.84 million, compared to $277.06 million last year, showcasing ongoing growth potential in its business.
- Positive Market Reaction: The dual growth in earnings and revenue may bolster investor confidence in First BanCorp, potentially leading to a positive impact on the company's stock performance.
See More
Wall Street Earnings Season Faces Major Test
- Earnings Season Significance: Wall Street is set for a packed earnings season featuring key companies like Capital One and Boeing, with investors eager to glean insights into the economic impact of the Iran war from these reports.
- Capital One Performance Focus: Capital One is scheduled to report earnings on Tuesday, with market attention on its consumer health metrics and the progress of its acquisitions of Discover and Brex, particularly amid rising economic uncertainties.
- Boeing Earnings Outlook: Boeing is expected to release its earnings report on Wednesday, with market focus on order volumes in both its commercial and defense sectors, as well as free cash flow performance, especially after previous unexpected losses.
- GE Vernova Order Growth: GE Vernova will report alongside Boeing, with first-quarter new orders anticipated to reach $14.4 billion, reflecting a 65% year-over-year increase, indicating strong market performance amid rising electricity demand.
See More
First Bank Appoints Will Aiken as Managing Director of Specialty Businesses
- Executive Appointment: First Bank has appointed Will Aiken as Managing Director of Specialty Businesses, aiming to enhance the bank's expansion in key areas and boost shareholder value and long-term growth potential.
- Extensive Experience: Aiken brings over 20 years of banking experience with a focus on credit, risk management, and specialty lending, which is expected to significantly impact First Bank's business development.
- Strategic Focus: This appointment reflects First Bank's ongoing efforts to meet customer needs and support their growth, highlighting its commitment to building specialized capabilities.
- Asset Scale: As the banking subsidiary of First Bancorp, First Bank manages approximately $12.7 billion in assets and operates 113 branches in North Carolina and South Carolina, showcasing its strong presence in the community banking sector.
See More
Old North State Trust Fully Sells First Bancorp Shares
- Shareholding Change: Old North State Trust sold all 72,921 shares of First Bancorp in Q4, with an estimated transaction value of $3.70 million, indicating a decline in confidence towards the stock.
- Asset Management Impact: The sale reduced First Bancorp's position from 2.3% to zero in the fund, reflecting a strategic shift that may affect future portfolio allocations.
- Financial Performance: Although First Bancorp's stock rose over 30% in the past year, a significant securities loss led to a quarterly net income drop to $15.7 million, highlighting the complexity of its profitability.
- Market Outlook: Analysts noted that First Bancorp was not included in the current list of top recommended stocks, suggesting a cautious market sentiment regarding its future growth potential.
See More
Old North State Trust Fully Exits First Bancorp Position
- Holding Change: Old North State Trust reported in an SEC filing dated March 24, 2026, that it has completely sold its 72,921 shares of First Bancorp, with an estimated trade value of $3.70 million, indicating a potential decline in confidence in the bank's future prospects.
- Portfolio Adjustment: This transaction reduced Old North State Trust's position in First Bancorp from 2.3% of AUM in the previous quarter to zero, suggesting a strategic shift towards larger growth companies to mitigate risks associated with smaller regional banks.
- Company Performance: As of March 23, 2026, First Bancorp shares were priced at $54.18, reflecting a 33.1% increase over the past year, significantly outperforming the S&P 500 by 20.25 percentage points, highlighting its strong market performance.
- Earnings Complexity: Despite First Bancorp's net interest income reaching approximately $106 million in Q4 and loan balances increasing to about $8.7 billion, a significant securities loss led to a quarterly net income drop to $15.7 million, illustrating the complexities in its earnings picture.
See More
