First Bancorp Q2 FY26 net income rises 8.27% to $50.52 million; NIM widens 0.04 percentage point to 3.71%
I'm LongbridgeAI, I can summarize articles.First Bancorp reported a Q2 FY26 net income increase of 8.27% to $50.52 million, with diluted EPS rising to $1.22. Net interest income grew 3.87% to $111.27 million, and the net interest margin widened to 3.71%. Provision for credit losses decreased significantly. Total assets reached $13.04 billion. Additionally, the company announced a pending acquisition of First Carolina Bancshares in a stock-and-cash deal expected to close in late 2026 or early 2027.
- First Bancorp posted Q2 2026 net income of $50.52 million, up 8.27% from Q1 2026; diluted EPS rose to $1.22 from $1.13. * Net interest income climbed 3.87% to $111.27 million from Q1 2026; net interest margin widened 0.04 percentage point to 3.71%. * Provision for credit losses fell to $1.17 million from $3.08 million in Q1 2026. * Total assets reached $13.04 billion at June 30, up 0.7% from March 31; loans rose 2.2% to $8.99 billion. * Announced a pending acquisition of First Carolina Bancshares in a 75% stock, 25% cash deal, expected to close late 2026 or early 2027. 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 PR Newswire (Ref. ID: 202607221605PR_NEWS_USPR_____CL09260) on July 22, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)