First Bancorp Reports Q3 Net Income of $20.4 Million on $144.2 Million Total Interest Income

First Bancorp reported net income of $20.4 million for the third quarter of 2025, compared to $38.6 million in the previous quarter and $18.7 million in the third quarter of 2024. Total interest income for the period was $144.2 million, up from $136.7 million in the prior quarter and $131.4 million a year earlier. Net interest income reached $102.5 million, increasing from $96.7 million in the second quarter and $83.0 million in the same period last year. Noninterest income was negative at $12.9 million, compared to $14.3 million in the previous quarter and $13.6 million in the third quarter of 2024. Provision for credit losses was $3.4 million, up from $2.2 million in the prior quarter but down from $14.2 million a year earlier. Noninterest expenses totaled $60.2 million, compared to $59.0 million in the second quarter and $59.9 million in the third quarter of 2024. Book value per share at the end of the quarter was $38.67, compared to $37.53 at the end of the previous quarter and $35.74 a year earlier. The net interest margin for the quarter was 3.46%, up from 3.32% in the prior quarter and 2.88% in the third quarter of 2024. Noninterest-bearing demand deposits stood at $3.6 billion, representing 33% of total deposits as of September 30, 2025. Customer deposits increased by $55.7 million during the quarter. The on-balance sheet liquidity ratio was 18.2% at September 30, 2025.

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