logo
Share SHARE
FONT-SIZE Plus   Neg

First Banks Turns To Profit In Q1

First Banks, Inc. (FBSPRA), the holding company of First Bank, reported first-quarter net income attributable to the company of $6.9 million or $58.63 per share, compared to a net loss of $6.1 million or $481.41 per share last year.

Net interest income for the quarter declined to $43.8 million from $48.8 million a year ago. Net interest margin dropped to 2.86 percent from 2.90 percent in the prior-year quarter.

Non-interest income for the quarter increased to $17.2 million from $14.4 million last year.

Provision for loan losses for the latest quarter reduced to $2.0 million from $10.0 million in the comparable quarter last year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood...
comments powered by Disqus
Follow RTT