FBNC

First Bancorp (FBNC) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

SOUTHERN PINES, N.C., Sept. 15, 2026 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ: FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.24 per share payable on October 23, 2026 to shareholders of record as of September 30, 2026.

First BanCorp has delivered outsized returns, outperforming the S&P 500 since my bullish stance in December. FBP's asset quality remains impressive, with strong returns on assets (2.02%) and equity (19.49%) despite elevated valuation multiples. Net interest margin improved to 4.87%, and the bank is well-positioned to benefit further from rising interest rates.

The headline numbers for First Bancorp (FBNC) give insight into how the company performed in the quarter ended June 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

First Bancorp (FBNC) came out with quarterly earnings of $1.22 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $0.93 per share a year ago.

Second Quarter 2026 Financial Data (Dollars in 000s, except per share data) Q2-2026 Q1-2026 Q2-2025 Summary Income Statement Total interest income $           148,315 $           142,390 $           136,731 Total interest expense 37,049 35,274 40,065 Net interest income 111,266 107,116 96,666 Provision for credit losses 1,169 3,083 2,212 Noninterest income 16,034 15,178 14,292 Noninterest expenses 62,761 60,218 58,924 Income tax expense 12,851 12,334 11,256 Net income $             50,519 $             46,659 $             38,566 Key Metrics Diluted EPS $                 1.22 $                 1.13 $                 0.93 Book value per share 41.49 40.68 37.53 Tangible book value per share 29.84 29.01 25.82 ROA 1.56 % 1.48 % 1.24 % ROCE 11.89 % 11.22 % 10.11 % ROTCE 16.88 % 16.05 % 15.25 % NIM 3.71 % 3.67 % 3.32 % NIM- T/E 3.73 % 3.69 % 3.32 % Efficiency ratio 49.12 % 49.05 % 53.00 % Quarterly NCO ratio 0.04 % 0.06 % 0.06 % ACL ratio 1.39 % 1.42 % 1.47 % Capital Ratios (1) Tangible common equity to tangible assets 9.83 % 9.63 % 8.83 % Common equity tier I capital ratio 14.09 % 14.13 % 14.64 % Total risk-based capital ratio 16.06 % 16.12 % 16.90 % (1) June 30, 2026 ratios are preliminary. Second Quarter 2026 Highlights D-EPS was $1.22 per share for the second quarter of 2026 compared to $1.13 for the linked quarter and $0.93 for the like quarter.

Investors need to pay close attention to FBNC stock based on the movements in the options market lately.

SOUTHERN PINES, N.C. and FLORENCE, S.C.

First BanCorp is rated Buy for its superior profitability and efficiency despite Puerto Rico's challenging economic environment. FBP outperforms peers in ROA, efficiency ratio, and asset quality, with non-performing loans at 0.67% and high loan loss reserves. Capital returns are robust, with 97% of Q1 2026 earnings returned via dividends and buybacks, though earnings growth remains subdued.

First Bancorp (FBNC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).