First Bancorp (FBP) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates

Financial Performance - First Bancorp reported revenue of $248.13 million for the quarter ended March 2025, reflecting a year-over-year increase of 7.7% [1] - Earnings per share (EPS) for the quarter was $0.47, up from $0.44 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $240.31 million by 3.26% [1] - The company achieved an EPS surprise of 9.30%, compared to the consensus estimate of $0.43 [1] Key Metrics - Efficiency ratio was reported at 49.6%, better than the estimated 52.1% by two analysts [4] - Net Interest Margin stood at 4.5%, matching the average estimate [4] - Total Interest-Earning Assets averaged $19.08 billion, slightly below the estimated $19.27 billion [4] - Card and processing income was $11.48 million, compared to the average estimate of $11.89 million [4] - Net interest income on a tax-equivalent basis was $212.40 million, exceeding the average estimate of $211.72 million [4] - Service charges and fees on deposit accounts totaled $9.64 million, below the average estimate of $9.83 million [4] - Total Non-Interest Income reached $35.73 million, surpassing the average estimate of $33.81 million [4] - Mortgage banking activities generated $3.18 million, slightly below the average estimate of $3.23 million [4] Stock Performance - Shares of First Bancorp returned +0.7% over the past month, while the Zacks S&P 500 composite declined by -5.1% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]