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, 2020

October 30, 2020 7:30 AM EDT

Net income of $28.6 million, or $0.13 per diluted share, for the third quarter of 2020, compared to $21.3 million, or $0.09 per diluted share, for the second quarter of 2020. First BanCorp. (the Corporation) completed the acquisition of Banco Santander Puerto Rico (BSPR) effective September 1, 2020. The Corporations financial statements reflect $5.6 billion in total assets, $2.6 billion in gross loans, and $4.2 billion in total deposits acquired in the BSPR acquisition. The net income for the third and second quarters of 2020 included the following items of note:

- Provision for credit losses on loans, finance leases and debt securities of $46.9... More