First Bancorp. (FBP) Tops Q4 EPS by 6c
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First BanCorp. Announces Earnings for the Quarter and Year Ended December 31, 2020
January 29, 2021 7:00 AM ESTNet income of $50.1 million, or $0.23 per diluted share, for the fourth quarter of 2020, compared to $28.6 million, or $0.13 per diluted share, for the third quarter of 2020. Financial results for the fourth quarter of 2020 reflected the effect of the acquisition of Banco Santander Puerto Rico (BSPR), effective September 1, 2020, for an entire quarter. The net income for the fourth and third quarters of 2020 included the following items of note:
- Merger and restructuring costs of $12.3 million ($7.7 million after-tax, or a decrease of $0.04 per diluted share) for the fourth quarter of 2020 associated with the acquisition of BSPR,... More
