SOUTHERN PINES, N.C. (AP) — SOUTHERN PINES, N.C. (AP) — First Bancorp (FBNC) on Wednesday reported third-quarter earnings of $20.4 million.
The bank, based in Southern Pines, North Carolina, said it had earnings of 49 cents per share. Earnings, adjusted for non-recurring costs, were $1.01 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The bank holding company for First Bank posted revenue of $159.2 million in the period. Its revenue net of interest expense was $117.5 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $112.4 million.
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