First Bancorp

First BanCorp (Puerto Rico) is a holding company, which engages in the provision of personal, commercial, and corporate banking services. It operates through the following segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations. The Commercial and Corporate Banking segment consists of the company's lending and other services for large customers represented by specialized and middle-market clients and the public sector. The Consumer (Retail) Banking segment includes consumer lending and deposit-taking activities conducted mainly through FirstBank's branch network in Puerto Rico. The Mortgage Banking segment focuses on the origination, sale, and servicing of a variety of residential mortgage loan products and related hedging activities. The Treasury and Investments segment deals with treasury and investment management functions. The United States Operations segment represents all banking activities conducted by FirstBank on the United States mainland. The Virgin Islands Operations segment includes all banking activities conducted by FirstBank in the U.S. Virgin Islands and the British Virgin Islands. The company was founded on October 29, 1948 and is headquartered in San Juan, Puerto Rico.

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First Bancorp reports solid earnings, eyes growth amidst challenges

First Bancorp (FBP) delivered strong financial performance with solid returns and robust loan portfolio growth.
Despite challenges in expenses and credit trends, the company's focus on technology and competitive pricing positions it well for future growth.
Opportunities in capital returns, cash flow from investments, and stable fee structures provide avenues for sustained performance.
Overall, First Bancorp's strategic investments and cautious approach to challenges indicate a resilient outlook for the future.

First Bancorp reports solid Q1 earnings amidst liquidity challenges

First Bancorp (FBP) delivered solid Q1 results with stable credit metrics and increased liquidity.
Challenges included a decrease in core deposits, net interest income, and margin contraction.
Analysts projected betas for the company and raised concerns about liquidity management.
Opportunities exist in managing funding sources, enhancing loan growth, and capitalizing on positive economic conditions.

First Bancorp reports strong Q2 earnings and tech investment focus

First Bancorp (FBP) delivered strong financial performance in Q2 2023, marked by earnings growth, loan portfolio expansion, and solid asset quality. The company's focus on liquidity management, cost efficiency, and strategic investments in technology underscores its commitment to sustainable growth.
While facing challenges related to net interest income pressures and provision for credit losses, First Bancorp remains well-positioned to capitalize on opportunities for growth through loan repricing, portfolio expansion, and leveraging positive economic trends in Puerto Rico.
By addressing analyst inquiries, sustaining cost efficiency, and executing on strategic initiatives, First Bancorp can navigate challenges, capitalize on opportunities, and drive continued value creation for shareholders and stakeholders.

First Bancorp posts solid Q3 earnings amidst deposit challenges

First Bancorp's Q3 2023 performance reflects a balanced approach to financial management, with a focus on growth and stability.
The company's strategic initiatives in share repurchases and loan portfolio expansion position it well for future opportunities.
While facing challenges in deposit trends and expense management, First Bancorp remains resilient with a strong capital position and risk management practices.

First Bancorp reports strong earnings, focuses on loan growth

First Bancorp delivered strong financial performance in Q4 2023 and full year, supported by robust earnings, loan portfolio growth, and improved asset quality. The company's capital position strengthened, setting a solid foundation for future growth and stability.
While facing challenges such as core deposit contraction and increased expenses, First Bancorp remains focused on managing credit risk, optimizing expenses, and enhancing shareholder value through dividends and buybacks.
Strategic priorities for 2024 include loan growth, credit management, and efficient capital deployment, aligning with opportunities to drive revenue growth, strengthen risk management practices, and enhance profitability.

First Bancorp posts robust Q1 results amidst asset quality challenges

First Bancorp's Q1 2024 performance reflects strong financial results, growth in key sectors, and strategic initiatives for future growth.
While facing challenges in asset quality and maintaining interest income growth, the company's focus on efficiency and client experience remains a strength.
With opportunities in technology utilization, market expansion through targeted loan growth, and upcoming networking events, First Bancorp is poised for continued success.

First Bancorp posts robust Q2 earnings, eyes growth opportunities

First Bancorp delivered a strong quarter marked by financial growth, prudent risk management, and a commitment to shareholder returns. While challenges exist in economic uncertainties and capital redemption, the company is well-positioned to leverage opportunities in the Puerto Rican market and digital enhancements. By focusing on strategic investments and prudent financial management, First Bancorp aims to sustain its positive momentum.

First Bancorp reports strong Q3 earnings and focuses on innovation

First Bancorp's Q3 2024 performance reflects financial stability, growth in net income, and improvements in asset quality and regulatory ratios, positioning the company well for future opportunities.
The company's strategic focus on innovation, expense management, and capital return underscores a commitment to enhancing shareholder value and navigating market challenges effectively.
By addressing challenges in expenses, consumer trends, and optimizing portfolios, while capitalizing on growth opportunities, First Bancorp aims to sustain its positive momentum and drive long-term value creation.

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SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation” or “First BanCorp.”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico (“FirstBank” or “the Bank”), today reported net income of $73.6 million, or $0.35 per diluted share, for the fourth quarter of 2021, compared to $75.7 million, or $0.36 per diluted share, for the third quarter of 2021, and $50.1 million, or $0.23 per diluted share, for the fourth quarter of 2020. Financial results for the fourth quarter o

First BanCorp. Announces Earnings for the Quarter and Year Ended December 31, 2021

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the fourth quarter ended December 31, 2021, before the market opens on January 26, 2022. First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Wednesday January 26, 2022. The call and webcast will be broadcast live over the

First BanCorp to Announce 4Q 2021 Results on January 26, 2022

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SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared the following monthly cash dividends on its outstanding shares of Series A through E Noncumulative Perpetual Monthly Income Preferred Stock (the “Preferred Stock”): Series AnnualDividendRate (%) MonthlyDividend PerShare OutstandingShares Record Date Payment Date (a) (b) (c) A 7.125% $0.14843750 197,38

First BanCorp. Announces Payment of Dividends on Preferred Stock

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SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation” or “First BanCorp.”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico (“FirstBank” or “the Bank”), today reported net income of $75.7 million, or $0.36 per diluted share, for the third quarter of 2021, compared to $70.6 million, or $0.33 per diluted share, for the second quarter of 2021, and $28.6 million, or $0.13 per diluted share, for the third quarter of 2020. Financial results for the third quarter of

First BanCorp. Announces Earnings for the Quarter Ended September 30, 2021

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared a quarterly cash dividend of $0.10 per share, which represents an increase of 43% or $0.03 per common share compared to its most recent dividend paid in September 2021. The dividend is payable on December 10, 2021 to shareholders of record at the close of business on November 26, 2021. “We are pleased

First BanCorp. Increases Quarterly Common Stock Cash Dividend By 43%

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that it has elected to redeem the following outstanding shares of Series A through E Noncumulative Perpetual Monthly Income Preferred Stock (collectively, the “Series A through E Preferred Stock”) which represents all of its currently outstanding preferred stock: Series     Description   Outstanding Shares A   7.13%   Noncumulative Perpetual

First BanCorp. Announces Redemption of All Outstanding Series A Through E Preferred Stock

MIAMI, Oct. 14, 2021 /PRNewswire/ -- Banesco USA 's Board of Directors ("Board") announces that Mario Oliva will step down as President and Chief Executive Officer, effective October 12, 2021, to pursue new opportunities.  He is succeeded by Calixto (Cali) Garcia-Velez.

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SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the third quarter ended September 30, 2021, before the market opens on October 25, 2021. First BanCorp. will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Monday October 25, 2021. The call and webcast will be broadcast live over the I

First BanCorp. to Announce 3Q 2021 Results on October 25, 2021

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SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation” or “First BanCorp.”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico (“FirstBank” or “the Bank”), today reported net income of $70.6 million, or $0.33 per diluted share, for the second quarter of 2021, compared to $61.2 million, or $0.28 per diluted share, for the first quarter of 2021, and $21.3 million, or $0.09 per diluted share, for the second quarter of 2020. Financial results for the second quarter o

First BanCorp. Announces Earnings for the Quarter Ended June 30, 2021

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the second quarter ended June 30, 2021, before the market opens on July 23, 2021. First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Friday July 23, 2021. The call and webcast will be broadcast live over the Internet and

First BanCorp to Announce 2Q 2021 Results on July 23, 2021

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SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico (“FirstBank” or “the Bank”), today reported net income of $61.2 million, or $0.28 per diluted share, for the first quarter of 2021, compared to $50.1 million, or $0.23 per diluted share, for the fourth quarter of 2020, and $2.3 million, or $0.01 per diluted share, for the first quarter of 2020. Financial results for the first quarter of 2021 include a net be

First BanCorp. Announces Earnings for the Quarter Ended March 31, 2021

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has approved a stock repurchase program, under which the Corporation may repurchase up to $300 million of its outstanding stock, commencing this quarter through June 30, 2022. "We are pleased to announce today that a stock repurchase program has been approved by our Board of Directors as it underscores the progres

First BanCorp. Announces Stock Repurchase Program

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the first quarter ended March 31, 2021, before the market opens on April 26, 2021. First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Monday April 26, 2021. The call and webcast will be broadcast live over the Internet an

First BanCorp to Announce 1Q 2021 Results on April 26, 2021

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico (“FirstBank” or “the Bank”), today reported net income of $50.1 million, or $0.23 per diluted share, for the fourth quarter of 2020, compared to $28.6 million, or $0.13 per diluted share, for the third quarter of 2020, and $36.4 million, or $0.16 per diluted share, for the fourth quarter of 2019. Financial results for the fourth quarter of 2020 reflected the

First BanCorp. Announces Earnings for the Quarter and Year Ended December 31, 2020

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared a quarterly cash dividend of $0.07 per share, which represents an increase of $0.02 per common share compared to its most recent dividend paid on December 11, 2020. The dividend is payable on March 12, 2021 to shareholders of record at the close of business on February 26, 2021. “We are very pleased t

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