First Bancorp. (FBP) Reports In-Line Q4 EPS

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Go back to First Bancorp. (FBP) Reports In-Line Q4 EPS

First BanCorp. Announces Earnings For the Quarter and Year Ended December 31, 2019

January 28, 2020 7:00 AM EST

Net income of $36.4 million, or $0.16 per diluted share, for the fourth quarter of 2019, compared to $46.3 million, or $0.21 per diluted share, for the third quarter of 2019.  The results for the fourth and third quarters of 2019 included approximately $10.9 million and $0.6 million, respectively, of merger and restructuring costs associated with the pending acquisition of Banco Santander Puerto Rico and related restructuring initiatives.
On a non-GAAP basis, adjusted net income for the fourth quarter of 2019 decreased by $2.3 million to  $42.8 million, or $0.19 per diluted share (which excludes the effect of events that are discussed in the Special... More