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First BanCorp Fiscal Q4 2019 Earnings Report - CapyFin

First BanCorp

🇵🇷 NYSE:FBP

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Overview Earnings Dividends Seasonality Metrics

Jan 28, 2020

•

Dec 31, 2019

First BanCorp Q4 2019 Earnings Report

Net income decreased due to merger costs and interest rate environment.

Key Takeaways

First BanCorp reported net income of $36.4 million, or $0.16 per diluted share, for Q4 2019, which included $6.8 million of after-tax merger and restructuring charges. Adjusted core results were $42.8 million, or $0.19 per diluted share.

Net income was $36.4 million for the fourth quarter of 2019.

Adjusted net income was $42.8 million, or $0.19 per diluted share.

Loan portfolio grew with continued reductions in non-performing assets.

Deposits grew by $261 million in all regions excluding government and brokered CDs.