SOUTHERN PINES, N.C. (AP) — SOUTHERN PINES, N.C. (AP) — First Bancorp (FBNC) on Wednesday reported second-quarter profit of $50.5 million.
The bank, based in Southern Pines, North Carolina, said it had earnings of $1.22 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The bank holding company for First Bank posted revenue of $164.3 million in the period. Its revenue net of interest expense was $127.3 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $125.5 million.
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