First BanCorp reports Q4 EPS 46c, consensus 41c

Reports Q4 tangible book value per share $9.91. Reports Q4 CET1 capital ratio 16.32%. Reports Q4 net charge-offs .78%. Aurelio Aleman, president and CEO of First BanCorp (FBP), commented: “We are very pleased to conclude the year with strong fourth quarter results underscored by solid loan growth across all business segments, encouraging core customer deposit trends, and solid profitability metrics. We earned $76 million in net income and grew pre-tax pre-provision income by 5% on a linked quarter basis driven by net interest income expansion and disciplined expense management.”