First Bancorp reported strong fourth quarter and full-year 2025 results, driven by significant net interest margin expansion and growth in non-interest revenue, recovering from prior year profitability declines.
Net Income for Q4 2025 increased 39.7% year-over-year to $10.2 million.
positiveDiluted EPS for Q4 2025 increased 38.9% year-over-year to $0.91.
positiveFull-year 2025 Net Income increased 27.2% to $34.4 million.
positiveFull-year 2025 Diluted EPS increased 26.4% to $3.07.
positiveNet Interest Margin expanded 41 basis points from 4Q2024 to 2.83%.
positiveNon-Interest Income grew 6.7% from 4Q2024 to $4.7 million.
positiveEfficiency Ratio improved to 49.33% for Q4 2025, down from 53.39% in 4Q2024.
positiveTangible book value per share increased 13.2% from 4Q2024 to $22.49.
positiveNon-performing assets to total assets increased to 0.41% from 0.14% a year ago.
attentionNon-performing loans to total loans increased to 0.54% from 0.18% a year ago.
attentionTotal deposits decreased 2.2% year-over-year to $2.66 billion.
attentionNet charge-offs increased to 0.07% of total loans from 0.02% in the prior year.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
The company's performance was driven by a 21.1% increase in annual net interest income and a 6.0% rise in non-interest revenue.
Loan portfolio expanded 2.3% for the year, while maintaining generally favorable asset quality.
Year-over-year core deposit growth of $77.0 million fully funded loan growth and allowed for a reduction in more expensive wholesale funding.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.