FBP - First BanCorp. GAAP EPS of $0.39 beats by $0.04 revenue of $233.41M beats by $4.91M

2023-04-25 07:36:21 ET

• First BanCorp. press release ( NYSE: FBP ): Q1 GAAP EPS of $0.39 beats by $0.04 .
• Revenue of $233.41M (+6.8% Y/Y) beats by $4.91M .
• On a non-GAAP basis, pre-tax, pre-provision income of $118.1 million for the first quarter of 2023, compared to pre-tax, pre-provision income of $122.2 million for the fourth quarter of 2022.
• Net interest margin of 4.34% for the first quarter of 2023, compared to 4.37% for the fourth quarter of 2022.
• Provision for credit losses of $15.5 million for the first quarter of 2023, relatively flat compared to $15.7 million for the fourth quarter of 2022.
• The ratio of the ACL for loans and finance leases to total loans held for investment was 2.29% as of March 31, 2023, compared to 2.25% as of December 31, 2022.
• Estimated total capital, common equity tier 1 capital, tier 1 capital, and leverage ratios were 19.02%, 16.33%, 16.33%, and 10.57%, respectively, as of March 31, 2023.

For further details see: