First BanCorp reports Q1 EPS 44c, consensus 37c

Reports Q1 tangible book value per share $8.58. Reports Q1 CET1 capital ratio 18.36%. Reports Q1 net charge-offs .37%. Aurelio Aleman, president and CEO of First BanCorp., commented: “We continue to successfully navigate the challenging interest rate cycle delivering another quarter of strong operating results. Consistent with our guidance, we grew the loan portfolio for the ninth consecutive quarter, prudently managed our expense base, sustained our profitability profile, and returned over 100% of earnings in the form of buybacks and dividends during the first quarter.”