First BanCorp. Q1 Profit Tops Estimates

(RTTNews) - First BanCorp. (FBP), the bank holding company for FirstBank Puerto Rico, reported net income of $61.2 million, or $0.28 per share, for the first quarter of 2021, compared to $2.3 million, or $0.01 per share, a year ago. Adjusted profit per share was $0.31 compared to a loss of $0.03. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.24, for the quarter. Analysts' estimates typically exclude special items. First quarter net interest income increased to $176.26 million from $138.65 million, prior year. Total non-interest income was $30.96 million compared to $30.20 million. Analysts expected revenue of $179.48 million, for the quarter.