First BanCorp reports Q3 adjusted EPS 51c, consensus 49c

Reports Q3 tangible book value per share $11.79. Reports Q3 CET1 capital ratio 16.67%. Reports Q3 net charge-offs 0.62%. Aurelio Aleman, president and CEO of First BanCorp (FBP), commented: “We delivered another quarter of exceptional financial performance underscored by record net interest income, disciplined loan growth, and well-managed asset quality. Adjusted for non-recurring special items, diluted earnings per share and pre-tax, pre-provision income were up by 13% and 9%, respectively, when compared to the prior year resulting in a very strong adjusted return on average assets of 1.70%.”