SAN JUAN, Puerto Rico (AP) — SAN JUAN, Puerto Rico (AP) — First Bancorp (FBP) on Tuesday reported net income of $70.7 million in its first quarter.

The San Juan, Puerto Rico-based bank said it had earnings of 39 cents per share.

The holding company for FirstBank Puerto Rico posted revenue of $274.9 million in the period. Its revenue net of interest expense was $233.4 million, exceeding Street forecasts.

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