First Bancorp announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, the company reported net income available to common shareholders of $0.2 million, or $0.01 per diluted common share, compared to a net loss available to common shareholders of $3.3 million, or $0.19 per diluted common share, for the same period in 2010. Net interest income for the quarter amounted to $31.9 million, a decrease of $1.7 million, or 4.9%, from the $33.6 million recorded in the fourth quarter of 2010. Income before income taxes was $1.3 million compared with loss before income taxes of $4.1 million a year ago. Net income was $0.98 million compared with net loss of $2.2 million a year ago. Return on average assets was 0.02% compared with negative return on average assets of 0.40% a year ago. Return on average common equity was 0.26% compared with negative return on average common equity of 4.48% a year ago. As on December 31, 2011, the company's book value per share was $16.66. For the year, the company's net income available to common shareholders amounted to $7.5 million, or $0.44 per diluted common share, compared to $5.9 million, or $0.35 per diluted common share, for the year ended December 31, 2010. Net interest income for the year amounted to $132.2 million, an increase of $4.8 million, or 3.8%, from the $127.4 million recorded in the comparable period of 2010. The variances in net interest income for both periods were primarily caused by fluctuations in the amounts of discount accretion on loans purchased in failed bank acquisitions recognized during the respective periods. Income before income taxes was $21.0 million compared with $14.9 million a year ago. Net income was $13.6 million compared with $9.98 million a year ago. Return on average assets was 0.23% compared with 0.18% a year ago. Return on average common equity was 2.59% compared with 2.05% a year ago.