First Bancorp posts Q3 net income of $20.4 million on higher net interest income

Reuters11-08

First Bancorp posts Q3 net income of $20.4 million on higher net interest income

First Bancorp reported net income of $20.4 million, or $0.49 diluted earnings per share, for the third quarter of 2025, compared to $18.7 million, or $0.45 diluted earnings per share, in the same period of 2024. Net interest income increased by $19.4 million, driven primarily by a higher yield on interest-earning assets and a lower cost of funds due to the prevailing interest rate environment. Noninterest income for the nine months ended September 30, 2025, was $42.3 million, similar to $42.2 million for the same period in 2024. A $2.3 million decrease in SBA loan sale gains was offset by a $2.2 million increase in other service charges. Service charges on deposit accounts for the third quarter were $4.2 million, and bankcard interchange income was $2.3 million. There were no material changes to the company's significant accounting policies during the period.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. First Bancorp published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000811589-25-000077), on November 07, 2025, and is solely responsible for the information contained therein.

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