Welcome to our dedicated page for First Bancorp P R news (Ticker: FBP), a resource for investors and traders seeking the latest updates and insights on First Bancorp P R stock.
First Bancorp (FBP) delivers essential banking services across Puerto Rico, the U.S. Virgin Islands, and Florida through consumer lending, commercial banking, and treasury solutions. This news hub provides investors and stakeholders with timely updates on the company’s financial performance and strategic initiatives.
Access authoritative reporting on earnings announcements, regulatory filings, leadership changes, and market expansions. Our curated collection simplifies tracking FBP’s developments in mortgage banking, deposit services, and risk management practices.
Key updates include quarterly results, merger activity, dividend declarations, and compliance milestones. Bookmark this page for consolidated access to press releases and third-party analysis of First Bancorp’s regional banking operations.
First BanCorp (NYSE: FBP) reported net income of $75.8 million, or $0.46 per diluted share, for Q2 2024, an increase from $73.5 million, or $0.44 per diluted share, in Q1 2024, and $70.7 million, or $0.39 per diluted share, in Q2 2023.
Key highlights include:
- Net interest income of $199.6 million, up from $196.5 million in Q1 2024.
- Provision for credit losses decreased to $11.6 million from $12.2 million in Q1 2024.
- Non-interest income fell to $32.0 million from $34.0 million in Q1 2024.
- Non-interest expenses decreased to $118.7 million from $120.9 million in Q1 2024.
Core deposits, excluding brokered and government deposits, increased by $132 million. Asset quality remained stable with a slight increase in early-delinquency and charge-off trends within consumer lending. The company repurchased $50 million of common stock and paid $26.3 million in dividends. Net interest margin increased to 4.22% from 4.16% in Q1 2024.
First BanCorp (NYSE: FBP), the holding company for FirstBank Puerto Rico, has announced significant capital actions approved by its Board of Directors. These include:
- A quarterly cash dividend of $0.16 per share on outstanding common stock, payable on September 13, 2024, to shareholders of record as of August 29, 2024.
- A new repurchase program of up to $250 million, potentially including common stock or junior subordinated debentures, to be executed through Q4 2025.
- This is in addition to the $50 million remaining from the July 2023 stock repurchase program.
CEO Aurelio Alemán emphasized the 's commitment to returning capital to stakeholders while balancing growth, financial soundness, and shareholder distributions.
First BanCorp (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, has published its third annual Corporate Sustainability Report for 2023. The report underscores the company’s dedication to environmental, social, and governance (ESG) principles. Key achievements include the expansion of their recycling program, the adoption of a Human Rights Statement, enhanced diversity, equity, and inclusion (DEI) initiatives, and the launch of a coastal erosion mitigation program called 'Rescate Costero'.
CEO Aurelio Alemán emphasized the importance of aligning business practices with sustainability to deliver shareholder value and contribute positively to society and the environment. The report adheres to standards set by the Sustainability Accounting Standards Board (SASB), the United Nations Sustainable Development Goals (UNSDG), and the Task Force on Climate-Related Financial Disclosures (TCFD).
Further details are available in the full report.
First BanCorp (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, has announced it will release its second-quarter financial results for 2024 on July 23, 2024, before the market opens.
A conference call and live webcast to discuss these results will take place at 10:00 a.m. Eastern time on the same day. Interested parties can access the call via the ’s investor relations website, fbpinvestor.com, or by dialing 833-470-1428 (domestic) or 404-975-4839 (international), using the participant access code 715720.
The webcast will include a question-and-answer session for research analysts and institutional investors. Replay options will be available on the website until July 23, 2025, and via telephone until August 22, 2024.
FAQ
What is the current stock price of First Bancorp P R (FBP)?
What is the market cap of First Bancorp P R (FBP)?
