First Bancorp Posts Q3 Profit of $51.3 Million, Tops Analyst Estimates

First Bancorp (FBNC) reported third-quarter profit of $51.3 million, or $1.24 per share, exceeding Wall Street expectations of $1.18 per share based on a survey of four analysts by Zacks Investment Research. The Southern Pines, North Carolina-based bank holding company for First Bank posted revenue of $169.1 million for the period. Revenue net of interest expense came in at $129.9 million, also surpassing Street forecasts of $129.3 million. The results, announced Wednesday, reflect earnings growth above consensus estimates for the regional lender.