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AI brief of an SEC Form 8-K · First Bancorp (Southern Pines NC) (FBNC)

First Bancorp Q1 net income rises to $36.4 million, or $0.88 per diluted share

Positive Impact 3 of 5 earnings Written later

First Bancorp reported unaudited first-quarter 2025 net income of $36.4 million, or $0.88 per diluted share, up from $3.6 million, or $0.08, in the fourth quarter of 2024 and $25.3 million, or $0.61, a year earlier. The increase was driven mainly by higher net interest income of $92.9 million and a tax-equivalent net interest margin of 3.27%, while noninterest expenses declined to $57.9 million.

Key points

  • Net income of $36.4 million, or $0.88 diluted EPS, for the quarter ended March 31, 2025, versus $3.6 million, or $0.08, in the linked fourth quarter of 2024 and $25.3 million, or $0.61, in the first quarter of 2024.
  • Net interest income of $92.9 million, up from $88.8 million in the fourth quarter of 2024 and $79.3 million in the first quarter of 2024.
  • Tax-equivalent net interest margin of 3.27%, compared with 3.08% in the fourth quarter of 2024 and 2.80% in the first quarter of 2024.
  • Noninterest expenses of $57.9 million, down from $58.3 million in the fourth quarter of 2024 and $59.2 million in the first quarter of 2024.

The filing

CompanyFirst Bancorp (Southern Pines NC) (FBNC)
Form8-K, current report
Filed with the SECApr 23, 2025, 4:05 PM ET
Accession number0000811589-25-000019

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 23, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.