First Bancorp Moves Near High as Bank Metric Draws Attention
First Bancorp closed at $59.44 Tuesday, up 1.35% as regional bank stocks rallied after the Memorial Day break. The company reported first-quarter net income of $46.7 million, with net interest margin rising to 3.67%. William Blair Investment Management cut its stake by 43% in Q4 but still held 379,138 shares. Nonperforming assets rose to 0.32% of total assets, with $3.1 million set aside for credit losses.