First BanCorp. Q1 Net Income Rises

(RTTNews) - First BanCorp. (FBP), the bank holding company for FirstBank Puerto Rico, reported net income of $73.5 million, or $0.44 per diluted share, for the first quarter of 2024, compared to $70.7 million, or $0.39 per diluted share, a year ago. Adjusted earnings per share was $0.44 compared to $0.39. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.37, for the quarter. Analysts' estimates typically exclude special items.

Net interest income was $196.5 million compared to $200.9 million, last year. Total non-interest income was $33.98 million compared to $32.52 million, prior year. Analysts on average had estimated $205.78 million in revenue.

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