First BanCorp. Q2 Profit Tops Estimates - Quick Facts

(RTTNews) - First BanCorp. (FBP), the bank holding company for FirstBank Puerto Rico, reported second quarter adjusted earnings per share of $0.10 compared to $0.18, a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.06, for the quarter. Analysts' estimates typically exclude special items.

Second quarter net interest income declined to $135.21 million from $142.55 million, prior year. Non-interest income was $20.89 million compared to $22.22 million. Analysts expected revenue of $139.41 million for the quarter.

Separately, First BanCorp. announced it has received the requisite regulatory approvals to consummate the acquisition of the Puerto Rico operations of Banco Santander Puerto Rico. Subject to the satisfaction of the remaining customary conditions to closing, the Corporation expects to complete the acquisition by September 1, 2020.