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. reported a net income of $70.7 million ($0.39 per diluted share) for Q1 2023, a decrease from $73.2 million ($0.40 per share) in Q4 2022 and $82.6 million ($0.41) in Q1 2022. Pre-tax, pre-provision income was $118.1 million, slightly down from $122.2 million in the previous quarter. Net interest income fell to $200.9 million, impacted by a higher cost of deposits and increased borrowings. However, non-interest income rose to $32.5 million, driven by seasonal commissions. The efficiency ratio worsened to 49.39% from 48.02%, as non-interest expenses increased by $2.4 million, mainly due to higher compensation costs. Total loans grew by $28 million, with notable lending growth in Puerto Rico. The bank repurchased 3.6 million shares for $50 million and raised its dividend from $0.12 to $0.14 per share.
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