First Bancorp: Fourth Quarter Earnings Overview

First Bancorp Reports Strong Fourth-Quarter Earnings

First Bancorp, headquartered in San Juan, Puerto Rico, announced a net income of $87.1 million for the fourth quarter.

The bank achieved earnings of 55 cents per share, surpassing the consensus forecast of 52 cents per share from four analysts polled by Zacks Investment Research.

During the quarter, FirstBank Puerto Rico's parent company generated $319.6 million in total revenue. After accounting for interest expenses, net revenue reached $257.2 million, exceeding analysts’ projections.

For the full year, First Bancorp recorded a profit of $344.9 million, translating to $2.15 per share, with annual revenue totaling $1 billion.

This article was produced by Automated Insights using financial data provided by Zacks Investment Research.