First Bancorp | 10-Q: FY2025 Q3 Revenue: USD 45.48 M

Revenue: As of FY2025 Q3, the actual value is USD 45.48 M.

EPS: As of FY2025 Q3, the actual value is USD 0.81.

EBIT: As of FY2025 Q3, the actual value is USD -8.979 M.

Financial Metrics by Segment

Segment Revenue

• Interest Income: $119,539,000 for the nine months ended September 30, 2025, compared to $109,833,000 for the same period in 2024. For the quarter ended September 30, 2025, interest income was $41,005,000, compared to $38,287,000 in 2024.
• Non-Interest Income: $12,606,000 for the nine months ended September 30, 2025, compared to $11,919,000 for the same period in 2024. For the quarter ended September 30, 2025, non-interest income was $4,475,000, compared to $4,122,000 in 2024.

Operational Metrics

• Net Income: $24,222,000 for the nine months ended September 30, 2025, compared to $19,763,000 for the same period in 2024. For the quarter ended September 30, 2025, net income was $9,082,000, compared to $7,571,000 in 2024.
• Net Interest Income: $56,266,000 for the nine months ended September 30, 2025, compared to $46,357,000 for the same period in 2024. For the quarter ended September 30, 2025, net interest income was $20,058,000, compared to $16,402,000 in 2024.
• Non-Interest Expense: $37,797,000 for the nine months ended September 30, 2025, compared to $35,011,000 for the same period in 2024. For the quarter ended September 30, 2025, non-interest expense was $12,754,000, compared to $12,000,000 in 2024.
• Credit Loss Expense (Reduction): $1,578,000 for the nine months ended September 30, 2025, compared to - $639,000 for the same period in 2024. For the quarter ended September 30, 2025, credit loss expense was $700,000, compared to - $638,000 in 2024.

Cash Flow

• Net Cash Provided by Operating Activities: $22,448,000 for the nine months ended September 30, 2025, compared to $14,638,000 for the same period in 2024.
• Net Cash Used by Investing Activities: - $25,669,000 for the nine months ended September 30, 2025, compared to - $184,373,000 for the same period in 2024.
• Net Cash Provided by Financing Activities: $7,191,000 for the nine months ended September 30, 2025, compared to $172,929,000 for the same period in 2024.

Unique Metrics

• Allowance for Credit Losses/Total Loans: 1.05% as of September 30, 2025, compared to 1.04% as of September 30, 2024.
• Non-Performing Loans to Total Loans: 0.40% as of September 30, 2025, compared to 0.11% as of September 30, 2024.
• Non-Performing Assets to Total Assets: 0.30% as of September 30, 2025, compared to 0.08% as of September 30, 2024.

Future Outlook and Strategy

Core Business Focus

• Net Interest Margin Tax-Equivalent: 2.57% for the nine months ended September 30, 2025, compared to 2.25% for the same period in 2024. For the quarter ended September 30, 2025, net interest margin tax-equivalent was 2.70%, compared to 2.32% in 2024.
• Return on Average Equity: 12.28% for the nine months ended September 30, 2025, compared to 10.67% for the same period in 2024. For the quarter ended September 30, 2025, return on average equity was 13.33%, compared to 11.86% in 2024.
• Return on Average Tangible Common Equity: 13.91% for the nine months ended September 30, 2025, compared to 12.19% for the same period in 2024. For the quarter ended September 30, 2025, return on average tangible common equity was 15.04%, compared to 13.50% in 2024.
• Return on Average Assets: 1.02% for the nine months ended September 30, 2025, compared to 0.87% for the same period in 2024. For the quarter ended September 30, 2025, return on average assets was 1.13%, compared to 0.98% in 2024.

Non-Core Business

• Book Value per Common Share: $24.48 as of September 30, 2025, compared to $23.03 as of September 30, 2024.
• Tangible Book Value per Common Share: $21.74 as of September 30, 2025, compared to $20.27 as of September 30, 2024.
• Market Value: $26.26 as of September 30, 2025, compared to $26.32 as of September 30, 2024.