First Bancorp NC's Q4 net income rises yr/yr

Overview

• North Carolina bank's Q4 net income fell sequentially but rose yr/yr

• Adjusted EPS after excluding securities loss rose significantly yr/yr

• Net interest income for Q4 increased 3.6% from prior qtr

Outlook

• Company did not provide specific guidance for future quarters or full year

Result Drivers

• LOAN GROWTH - Co reported strong loan growth with a 14.3% annualized increase in total loans for Q4 2025

• SECURITIES TRANSACTION - Co executed a securities loss-earnback transaction, selling $342 mln of securities and purchasing $228.4 mln with higher yields

• NONINTEREST INCOME - Excluding securities loss, noninterest income increased due to a $4.6 mln gain from office building sale

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for First Bancorp (North Carolina) is $60.00, about 3.9% above its January 20 closing price of $57.75

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nPn40Q7Ha

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.