First Bancorp (NASDAQ – FBNC), the parent company of First Bank, announced today net income of $29.3 million, or $1.03 per diluted common share, for the three months ended June 30, 2021, an increase of 83.9% on a per share basis, compared to $16.4 million, or $0.56 per diluted common share, recorded in the second quarter of 2020. For the six months ended June 30, 2021, the Company recorded net income of $57.5 million, or $2.02 per diluted common share, compared to $34.5 million, or $1.18 per diluted common share, for the six months ended June 30, 2020, an increase of 71.2%. The higher earnings for both periods in 2021 were primarily driven by lower credit costs compared to 2020.
