First Bancorp. (FBP) Tops Q1 EPS by 1c
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First BanCorp. Announces Earnings for the Quarter Ended March 31, 2017
April 25, 2017 7:00 AM EDT2017 First Quarter Highlights and Comparison with 2016 Fourth Quarter
Net income of $25.5 million, or $0.11 per diluted share, compared to $23.9 million, or $0.11 per diluted share, for the fourth quarter of 2016. The financial results for the first quarter of 2017 include a $12.2 million other-than-temporary impairment (OTTI) charge on Puerto Rico government debt securities and a $13.2 million tax benefit related to the change in tax status of certain subsidiaries from taxable corporations to limited liability companies that make an election to be treated as partnerships for income tax purposes in Puerto Rico. Net interest... More