First Bancorp reports Q3 EPS 73c, consensus 68c

Reports Q3 provision for loan losses $1.2M vs. $5.1M last year. Tangible book value was $18.11 at quarter end from $19.03 at previous quarter end. CEO Richard Moore, CEO stated, “Our company has demonstrated once again that our deposit base is very stable, comparatively low cost, diversified and growing. We are a relationship-driven bank and it has paid off in this market. When you consider our deposit base, our low loan-to-deposit ratio, strong credit quality, and almost no large office building credit exposure, we are confident about our ability to stay well-positioned for the remainder of the year and into next year.”