First Bancorp. (FBP) Tops Q4 EPS by 2c

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Go back to First Bancorp. (FBP) Tops Q4 EPS by 2c

First BanCorp. Announces Earnings for the Quarter and Year Ended December 31, 2016

January 26, 2017 7:00 AM EST

2016 Fourth Quarter Highlights and Comparison with Third Quarter

Net income of $23.9 million, or $0.11 per diluted share, compared to $24.1 million, or $0.11 per diluted share, for the third quarter of 2016. Net interest income increased by $2.9 million to $121.1 million, compared to $118.2 million for the third quarter of 2016, primarily due to interest income recovery from certain non-accrual commercial loans that were fully paid off during the fourth quarter and the maturity of certain high cost repurchase agreements. Net interest margin increased 24 basis points to 4.30%.... More