First Bancorp Q2 EPS $0.93 beats prior; NIM expands; dividend raised to $0.23

FIRST BANCORP /NC/

2025-Q2 EPS reported $1.81

Net income $38.6M ($0.93 diluted EPS) vs $36.4M ($0.88) linked and $28.7M ($0.70) YoY.
NIM expanded to 3.32% from 3.25% linked and 2.84% YoY; net interest income $96.7M (+4.1% linked).
Loans grew $122.6M (6.07% annualized) to $8.225B; core deposits up $140.4M.
Quarterly dividend raised to $0.23/share effective June 30, 2025.
Hurricane Helene reserve reduced $3.5M ($0.06/share benefit); NCOs 0.06% annualized.

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