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SOUTHERN PINES, N.C. (AP) — SOUTHERN PINES, N.C. (AP) — First Bancorp (FBNC) on Wednesday reported fourth-quarter earnings of $29.7 million.
The bank, based in Southern Pines, North Carolina, said it had earnings of 72 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The bank holding company for First Bank posted revenue of $141.1 million in the period. Its revenue net of interest expense was $97 million, which missed Street forecasts.
For the year, the company reported profit of $104.1 million, or $2.53 per share. Revenue was reported as $404.1 million.
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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