First Bancorp Q1 FY26 net income rises 27.1% to $9 million

• First Bancorp posted first-quarter net income of $9 million, up 27.1% from Q1 2025.
• Diluted EPS increased 26.2% to $0.80.
• Net interest margin widened to 2.86%, up 38 percentage points from Q1 2025.
• Net interest income climbed 16.2% to $20.7 million on higher earning asset yields and lower funding costs.
• Total assets rose to $3.2 billion as loans grew $11 million, while management highlighted $116 million of new loan production and said deposits were flat with seasonal declines in non-maturity balances offset by time deposits and borrowings.

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