First Bancorp Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015
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.