First BanCorp. announced unaudited consolidated earnings results for fourth quarter and full year ended Dec. 31, 2016. For the quarter, the company reported net interest income of $121,064,000, net interest income after provision for loan and lease losses of $97,873,000, income before income taxes of $37,198,000, net income of $23,858,000, net income attributable to common stockholders of $23,635,000, earnings per common share: diluted of $0.11, book value per common share of $8.05, tangible book value per common share of $7.83, return on average assets of 0.8%, return on average common equity of 5.4% compared to the net interest income of $125,213,000, net interest income after provision for loan and lease losses of $91,580,000, income before income taxes of $18,722,000, net income of $14,967,000, net income attributable to common stockholders of $14,967,000, earnings per common share: diluted of $0.07, book value per common share of $7.71, tangible book value per common share of $7.47, return on average assets of 0.46%, return on average common equity of 3.57% for the same quarter a year ago.

For the year, the company reported net interest income of $484,118,000, net interest income after provision for loan and lease losses of $397,385,000, income before income taxes of $130,259,000, net income of $93,229,000, net income attributable to common stockholders of $93,006,000, earnings per common share: diluted of $0.43, book value per common share of $8.05, tangible book value per common share of $7.83, return on average assets of 0.75%, return on average common equity of 5.39% compared to the net interest income of $502,266,000, net interest income after provision for loan and lease losses of $330,221,000, income before income taxes of $27,716,000, net income of $21,297,000, net income attributable to common stockholders of $21,297,000, earnings per common share: diluted of $0.1, book value per common share of $7.71, tangible book value per common share of $7.47, return on average assets of 0.17%, return on average common equity of 1.29% for the previous year.

Net charge-offs for the fourth quarter of 2016 were $31.7 million, or an annualized 1.43% of average loans, compared to $41.9 million, or an annualized 1.90% of average loans, in the third quarter of 2016.