First BanCorp Q1 Profit Down, Yet Beats View; Net Interest Income Rises

(RTTNews) - First BanCorp. (FBP), a bank holding company for FirstBank Puerto Rico, reported Tuesday that its first-quarter net income attributable to shareholders fell to $70.70 million or $0.39 per share from last year's $82.60 million or $0.41 per share.

On average, five analysts polled by Thomson Reuters expect earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

Interest income grew to $242.40 million from last year's $197.85 million. Net interest income was $200.9 million for the first quarter, compared to $185.62 million last year.

Net interest margin of 4.34% for the first quarter.

Non-interest income fell to $32.52 million from $32.86 million last year.

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