First BanCorp. is a Puerto Rico financial holding company and the bank holding company for FirstBank Puerto Rico. News about FBP commonly centers on quarterly earnings, deposit and loan trends, provision for credit losses, regulatory capital levels, common stock dividends, share repurchases, and credit-rating actions tied to its banking franchise.
The company’s operating activities include consumer banking, mortgage banking, commercial and corporate banking, treasury and investments, United States operations, and Virgin Islands operations, with Puerto Rico representing its primary market. Corporate updates also include annual meeting matters and executive leadership disclosures.
First BanCorp (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, has announced a quarterly cash dividend of $0.18 per share on its outstanding common stock. The dividend will be paid on June 13, 2025 to shareholders of record as of the close of business on May 29, 2025.
First BanCorp (NYSE: FBP) reported net income of $77.1 million, or $0.47 per diluted share, for Q1 2025, compared to $75.7 million ($0.46/share) in Q4 2024 and $73.5 million ($0.44/share) in Q1 2024.
Key highlights include:
- Net interest income increased to $212.4 million from $209.3 million in Q4 2024
- Net interest margin expanded to 4.52% from 4.33%
- Core customer deposits grew by $29 million
- Efficiency ratio improved to 49.58% from 51.57%
- Total loans decreased by $71.7 million to $12.7 billion
The bank redeemed $50.6 million of junior subordinated debentures, repurchased $21.8 million in common stock, and declared $29.6 million in common stock dividends. Capital ratios remained strong with CET1 at 16.62% and total capital ratio at 17.96%.
First BanCorp (NYSE: FBP) has scheduled the release of its first quarter 2025 financial results before market opening on April 24, 2025. The company will host a conference call and live webcast at 12:00 p.m. Eastern time on the same day to discuss the results.
Investors can access the webcast through the company's investor relations website at fbpinvestor.com. Participants are advised to join 15 minutes early to set up necessary software. Alternative dial-in numbers are available: 833-470-1428 or 404-975-4839 (access code: 811566).
A Q&A session for research analysts and institutional investors will follow the presentation. The webcast replay will be available until April 24, 2026, while a telephone replay can be accessed until May 24, 2025, at 866-813-9403 (access code: 686791).
First BanCorp (NYSE: FBP) announced a strategic reorganization aligned with its corporate succession plan. The restructuring includes key executive retirements and new leadership appointments, effective April 1st.
Notable changes include the retirement of Cassan Pancham (EVP and Business Group Executive) effective May 15, 2025, and Carlos Power (EVP and Business Group Executive) effective May 2, 2025. The company introduced a new corporate title of Senior Vice President Division Director (SVP Division Director).
Key appointments include Nayda Rivera-Batista as EVP and Chief Consumer Officer, overseeing Mortgage, Consumer Lending, Auto, Leasing, and Insurance. Sara Alvarez (EVP, General Counsel) will oversee Regulatory Compliance and BSA units. The reorganization aims to improve operational efficiency, enhance customer experience, and drive business transformation.
First BanCorp (NYSE: FBP) reported Q4 2024 net income of $75.7 million ($0.46 per diluted share), compared to $73.7 million in Q3 2024 and $79.5 million in Q4 2023. For the full year 2024, net income was $298.7 million ($1.81 per diluted share), versus $302.9 million in 2023.
Key Q4 highlights include: net interest income of $209.3 million, loan growth of $303.2 million to $12.8 billion, and core deposits increase of $197.9 million to $12.9 billion. The net interest margin improved to 4.33% from 4.25% in Q3. The efficiency ratio was 51.57%, and the return on average assets was 1.56%.
The bank maintained strong capital ratios with estimated total capital at 18.02% and CET1 at 16.32%. The Board approved a 13% increase in common stock dividend. Asset quality remained stable with non-performing assets decreasing to $118.3 million from $119.1 million in Q3 2024.
First BanCorp (NYSE: FBP) has announced a 13% increase in its quarterly cash dividend to $0.18 per share, representing a $0.02 increase from the previous dividend paid in December 2024. The dividend will be payable on March 7, 2025, to shareholders of record as of February 21, 2025.
The increased dividend equates to an annualized dividend rate of $0.72 per common share. President and CEO Aurelio Alemán emphasized that this increase, along with their share buyback program, demonstrates their commitment to maximizing shareholder value, supported by consistent long-term performance, strong capital position, and positive future outlook.
First BanCorp (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, has announced it will release its fourth quarter 2024 financial results before market opening on January 23, 2025. The company will host a conference call and live webcast at 10:00 a.m. Eastern time on the same day to discuss the results.
Investors can access the webcast through fbpinvestor.com, with recommended early login for software installation. The call will also be available via dial-in numbers 833-470-1428 or 404-975-4839 (access code: 960930). A Q&A session for research analysts and institutional investors will follow the presentation. The webcast replay will be available until January 23, 2026, while a telephone replay will be accessible until February 22, 2025, at 866-813-9403 (access code: 745161).
First BanCorp (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, has announced a quarterly cash dividend of $0.16 per share on its outstanding common stock. The dividend will be paid on December 13, 2024 to shareholders of record as of the close of business on November 29, 2024.
First BanCorp (NYSE: FBP) reported net income of $73.7 million, or $0.45 per diluted share, for Q3 2024, compared to $75.8 million in Q2 2024 and $82.0 million in Q3 2023. The quarter showed a strong return on assets of 1.55% and net interest income increased to $202.1 million from $199.6 million in Q2. The loan portfolio grew by $63 million despite $122 million in commercial prepayments. The bank maintained positive credit performance and stable deposit trends while deploying capital through a $50 million redemption of junior subordinated debentures and payment of common stock dividends.