First Bancorp announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported total interest income of $31,807,000 against $32,827,000 a year ago. Net interest income was $30,053,000 against $30,923,000 a year ago. Net interest income after provision for loan losses was $30,096,000 against $29,447,000 a year ago. Income before income taxes was $10,318,000 against $10,950,000 a year ago. Net income available to common shareholders was $6,760,000 against $6,878,000 a year ago. Diluted earnings per common share were $0.33 against $0.34 a year ago. Net interest income, tax-equivalent was $30,476,000 against $31,299,000 a year ago. Return on average assets was 0.82% against 0.85% a year ago. Return on average common equity was 7.96% against 8.56% a year ago.

For the year, the company reported total interest income of $126,655,000 against $139,832,000 a year ago. Net interest income was $119,747,000 against $131,609,000 a year ago. Net interest income after provision for loan losses was $120,527,000 against $121,414,000 a year ago. Income before income taxes was $41,160,000 against $38,531,000 a year ago. Net income available to common shareholders was $26,431,000 against $24,128,000 a year ago. Diluted earnings per common share were $1.30 against $1.19 a year ago. Net interest income, tax-equivalent was $121,381,000 against $133,111 a year ago. Return on average assets was 0.82% against 0.75% a year ago. Return on average common equity was 8.04% against 7.73% a year ago. Stated book value –common as on December 31, 2015 was $16.96 against $16.08 as on December 31, 2014. Tangible book value-common as on December 31, 2015 was $13.56 against $12.63 as on December 31, 2014.