1st United Bancorp Q1 Profit Up 66%

(RTTNews) - 1st United Bancorp, Inc. (FUBC) reported net income for the first quarter of $2.7 million or $0.08 per share, compared t $1.6 million or $0.05 per share for the year-ago quarter.

Net interest income for the first quarter rose to $18.7 million from $16.7 million a year ago. Provision for loan losses for the quarter was $333,000, compared to $650,000 in the prior year quarter.

Total non-interest income for the quarter was a loss of $1.2 million, compared to a loss of $988,000 last year's quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.08 per share on revenue of $18.23 million for the first quarter.