XML 63 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
INTEREST INCOME    
Interest and fees on loans $ 29,441us-gaap_InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio $ 36,086us-gaap_InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
Interest on investment securities:    
Taxable interest income 1,359us-gaap_InterestIncomeSecuritiesTaxable 1,001us-gaap_InterestIncomeSecuritiesTaxable
Tax-exempt interest income 463us-gaap_InterestIncomeSecuritiesTaxExempt 470us-gaap_InterestIncomeSecuritiesTaxExempt
Other, principally overnight investments 195us-gaap_InterestIncomeFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell 119us-gaap_InterestIncomeFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell
Total interest income 31,458us-gaap_InterestAndDividendIncomeOperating 37,676us-gaap_InterestAndDividendIncomeOperating
INTEREST EXPENSE    
Savings, checking and money market accounts 269us-gaap_InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits 252us-gaap_InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
Time deposits of $100,000 or more 847us-gaap_InterestExpenseTimeDeposits100000OrMore 1,183us-gaap_InterestExpenseTimeDeposits100000OrMore
Other time deposits 342us-gaap_InterestExpenseTimeDepositsLessThan100000 456us-gaap_InterestExpenseTimeDepositsLessThan100000
Borrowings 297us-gaap_InterestExpenseBorrowings 250us-gaap_InterestExpenseBorrowings
Total interest expense 1,755us-gaap_InterestExpense 2,141us-gaap_InterestExpense
Net interest income 29,703us-gaap_InterestIncomeExpenseNet 35,535us-gaap_InterestIncomeExpenseNet
Provision for loan losses - non-covered 104fbp_ProvisionForLoanLossesNoncovered 3,365fbp_ProvisionForLoanLossesNoncovered
Provision (reversal) for loan losses - covered (268)fbp_ProvisionForLoanLossesCovered 210fbp_ProvisionForLoanLossesCovered
Total provision (reversal) for loan losses (164)us-gaap_ProvisionForLoanLeaseAndOtherLosses 3,575us-gaap_ProvisionForLoanLeaseAndOtherLosses
Net interest income after provision for loan losses 29,867us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 31,960us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss
NONINTEREST INCOME    
Service charges on deposit accounts 2,892us-gaap_FeesAndCommissionsDepositorAccounts 3,573us-gaap_FeesAndCommissionsDepositorAccounts
Other service charges, commissions and fees 2,542us-gaap_FeesAndCommissionsOther 2,367us-gaap_FeesAndCommissionsOther
Fees from presold mortgage loans 808us-gaap_FeesAndCommissionsMortgageBanking 607us-gaap_FeesAndCommissionsMortgageBanking
Commissions from sales of insurance and financial products 561us-gaap_InsuranceCommissionsAndFees 594us-gaap_InsuranceCommissionsAndFees
Bank-owned life insurance income 371us-gaap_BankOwnedLifeInsuranceIncome 327us-gaap_BankOwnedLifeInsuranceIncome
Foreclosed property gains (losses) - non-covered (494)fbp_ForeclosedPropertyLossesAndWritedownsNoncovered (156)fbp_ForeclosedPropertyLossesAndWritedownsNoncovered
Foreclosed property gains (losses) - covered 237fbp_ForeclosedPropertyLossesAndWritedownsCovered (2,117)fbp_ForeclosedPropertyLossesAndWritedownsCovered
FDIC indemnification asset income (expense), net (2,392)fbp_FdicIndemnificationAssetIncomeNet (4,916)fbp_FdicIndemnificationAssetIncomeNet
Other gains (losses) 4us-gaap_OtherNonoperatingGainsLosses 19us-gaap_OtherNonoperatingGainsLosses
Total noninterest income 4,529us-gaap_NoninterestIncome 298us-gaap_NoninterestIncome
NONINTEREST EXPENSES    
Salaries 11,497us-gaap_SalariesAndWages 11,648us-gaap_SalariesAndWages
Employee benefits 2,183us-gaap_OtherLaborRelatedExpenses 2,311us-gaap_OtherLaborRelatedExpenses
Total personnel expense 13,680us-gaap_LaborAndRelatedExpense 13,959us-gaap_LaborAndRelatedExpense
Net occupancy expense 1,869us-gaap_OccupancyNet 1,880us-gaap_OccupancyNet
Equipment related expenses 956us-gaap_EquipmentExpense 928us-gaap_EquipmentExpense
Intangibles amortization 180us-gaap_AmortizationOfIntangibleAssets 194us-gaap_AmortizationOfIntangibleAssets
Other operating expenses 7,029us-gaap_OtherNoninterestExpense 6,590us-gaap_OtherNoninterestExpense
Total noninterest expenses 23,714us-gaap_NoninterestExpense 23,551us-gaap_NoninterestExpense
Income before income taxes 10,682us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 8,707us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense 3,694us-gaap_IncomeTaxExpenseBenefit 3,031us-gaap_IncomeTaxExpenseBenefit
Net income 6,988us-gaap_NetIncomeLoss 5,676us-gaap_NetIncomeLoss
Preferred stock dividends (217)us-gaap_PreferredStockDividendsIncomeStatementImpact (217)us-gaap_PreferredStockDividendsIncomeStatementImpact
Net income available to common shareholders $ 6,771us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 5,459us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Earnings per common share: Basic $ 0.34us-gaap_EarningsPerShareBasic $ 0.28us-gaap_EarningsPerShareBasic
Earnings per common share: Diluted $ 0.33us-gaap_EarningsPerShareDiluted $ 0.27us-gaap_EarningsPerShareDiluted
Dividends declared per common share $ 0.08us-gaap_CommonStockDividendsPerShareDeclared $ 0.08us-gaap_CommonStockDividendsPerShareDeclared
Weighted average common shares outstanding: Basic 19,721,992us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 19,688,183us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted average common shares outstanding: Diluted 20,454,614us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 20,424,475us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding