First Bancorp. (FBP) Tops Q4 EPS by 4c

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Go back to First Bancorp. (FBP) Tops Q4 EPS by 4c

First BanCorp. Announces Earnings for the Quarter and Year Ended December 31, 2018 and Partial Reversal of Deferred Tax Asset Valuation Allowance

January 29, 2019 7:00 AM EST

Net income of $101.1 million, or $0.46 per diluted share, for the fourth quarter of 2018, compared to $36.3 million, or $0.16 per diluted share, for the third quarter of 2018. The fourth quarter 2018 results included a $53.3 million net tax benefit related to a partial reversal of the Corporations deferred tax asset valuation allowance, partially offset by the effect of the remeasurement of deferred tax assets in connection with the enactment of the Act 257-2018 (Puerto Rico Tax Reform of 2018). On a non-GAAP basis, adjusted net income for the fourth quarter of 2018 of $44.4 million, or $0.20 per... More