First Bancorp. (FBP) Misses Q3 EPS by 2c

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Go back to First Bancorp. (FBP) Misses Q3 EPS by 2c

First BanCorp. Announces Earnings for the Quarter Ended September 30, 2015

October 26, 2015 8:02 AM EDT

2015 Third Quarter Highlights and Comparison with Second Quarter

Net income of $14.8 million, or $0.07 per diluted share, compared to a net loss of $34.1 million, or $0.16 per diluted share, for the second quarter of 2015. As previously reported, the financial results for the second quarter were adversely impacted by a $48.7 million pre-tax loss on a bulk sale of assets, a $12.9 million pre-tax other-than-temporary impairment on Puerto Rico Government securities, and pre-tax costs of $2.6 million related to the conversion of loan and deposit accounts acquired from Doral Bank (Doral) to the FirstBank systems completed in the second quarter.... More