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First Bancorp: 3Q Earnings Snapshot

·1 min read

SOUTHERN PINES, N.C. (AP) _ First Bancorp (FBNC) on Monday reported third-quarter earnings of $23.3 million.

The bank, based in Southern Pines, North Carolina, said it had earnings of 81 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The bank holding company for First Bank posted revenue of $80.1 million in the period. Its revenue net of interest expense was $76.2 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $67.2 million.

First Bancorp shares have decreased 40% since the beginning of the year. In the final minutes of trading on Monday, shares hit $24.03, a fall of 35% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FBNC at https://www.zacks.com/ap/FBNC