First Bancorp (NASDAQ:FBNC) Reports Strong Quarterly Financial Results and Revenue Growth

• First Bancorp (NASDAQ:FBNC) exceeded analyst expectations with an earnings per share (EPS) of $1.22.
• The company reported strong revenue of $127.30 million, surpassing estimates and marking a 14.7% year-over-year increase.
• This quarter continues a positive trend, with First Bancorp consistently beating EPS estimates for four consecutive quarters and achieving significant net income growth.

First Bancorp (NASDAQ:FBNC) is a prominent bank holding company operating within the Banks - Southeast industry. The company provides a comprehensive range of banking services to individuals and businesses. As highlighted by PR Newswire, First Bancorp recently announced a strategic agreement to acquire First Carolina Bancshares Corporation, a move expected to close in late 2026 or early 2027, pending regulatory approvals.

On July 22, 2026, First Bancorp reported strong quarterly financial results. The company posted an earnings per share (EPS) of $1.22. EPS shows how much profit is made for each share of stock. This figure surpassed the consensus analyst estimate of $1.15, representing a 6.09% positive surprise, as highlighted by Zacks, demonstrating robust stock performance.

The company's revenue for the quarter was $127.30 million, which also beat the estimated $126.07 million. Revenue is the total income a company generates from its business activities. This result marks a 14.7% increase compared to the revenue of $111.02 million reported in the same quarter of the previous year, indicating strong financial growth.

This financial performance continues a positive trend for First Bancorp. The company has now surpassed consensus EPS estimates for four consecutive quarters, as highlighted by Zacks. Net income for the quarter grew to $50.50 million, a significant increase from the $38.60 million reported in the second quarter of 2025, showcasing consistent financial performance.

From a valuation perspective, First Bancorp has a trailing twelve-month Price-to-Earnings (P/E) ratio of 19.44. The P/E ratio compares a company's current share price to its earnings per share. It is a common metric used by investors to assess a stock's value relative to its earnings, providing key investor insights into stock valuation.