NEW YORK, May 27, 2026, 06:06 EDT
First Bancorp heads into Wednesday’s session after closing at $59.44 on Tuesday, up 1.35% in the first day back since Memorial Day. The Southern Pines-based parent of First Bank operates 113 branches across North Carolina and South Carolina. That puts the focus on regional banking, not the big national names.
Small and regional banks moved higher as trading picked up again after the long weekend. U.S. markets were shut May 25 for Memorial Day according to Nasdaq’s 2026 calendar, with the next day off set for Juneteenth on June 19.
Big moves across the major indexes. S&P 500 finished up 0.6% Tuesday, Nasdaq Composite jumped 1.2% for a new record close, and Russell 2000 advanced 1.8%, according to the Associated Press.
Regional bank stocks were also higher. The SPDR S&P Regional Banking ETF (KRE) was up 1.28%. First Financial Bancorp climbed 1.37%, United Bankshares added 1.16%, and SouthState Bank rose 0.98%. First Bancorp’s move stayed close to those names.
The April quarter remains the main earnings driver for the stock. First Bancorp posted first-quarter net income of $46.7 million, or $1.13 per diluted share, up from $36.4 million, or 88 cents, in the prior year. Net interest margin widened to 3.67% from 3.25%. Chairman and CEO Richard H. Moore said it was a “strong start to 2026” and noted “continued margin expansion.” PR Newswire
Investors have stuck with the stock, and the company’s own figures give them reason. Total cost of funds dropped to 1.31% in the first quarter, down from 1.36% the previous period. Loans climbed to $8.8 billion. The loan-to-deposit ratio was 79.9%, showing how much of the deposit base has been used for lending.
William Blair Investment Management sold down its position in First Bancorp by 43% in the fourth quarter, according to regulatory filings cited by MarketBeat. The firm still owned 379,138 shares valued at about $19.3 million at the end of the period. MarketBeat noted the stock’s “Moderate Buy” consensus and a $62.25 average target. Keefe, Bruyette & Woods rated the stock “outperform,” while Piper Sandler was at “neutral.” MarketBeat
But the risk is clear. The shares are counting on funding costs staying in check and credit quality holding up. First Bancorp’s latest quarterly filing showed $3.1 million set aside for credit losses, driven by more loans and $1.4 million in net charge-offs. Classified loans were up 12.7% to $66.0 million. Nonperforming assets ticked higher to 0.32% of total assets from 0.30% at the end of the year.
This isn’t a stress signal on its own. It’s the part of the story that moves the quickest.
First Bancorp heads into Wednesday’s session with investors watching if Tuesday’s bounce for regional banks sticks at the open or if traders start taking profits after the run-up that sent the stock near its recent highs.
