Quarterly ResultApr 22, 2026, 04:21 PM
First Bancorp Q1 Earnings Up 27% to $9.0M; EPS $0.80
AI Summary
First Bancorp reported strong first-quarter results for 2026, with net income increasing by 27.1% to $9.0 million and diluted earnings per share rising 26.2% to $0.80. The company saw significant net interest margin expansion of 38 basis points to 2.86% and an improved efficiency ratio of 52.64%. These results were driven by strong operational performance and loan growth of $11.0 million during the quarter.
Key Highlights
- Net income increased 27.1% to $9.0 million compared to Q1 2025
- Diluted EPS rose 26.2% to $0.80 from Q1 2025
- Net Interest Margin expanded by 38 basis points to 2.86%
- Loan growth for the period was $11.0 million
- Efficiency Ratio improved to 52.64% from 56.93% in Q1 2025