First Bancorp P R Stock Price, News & Analysis

First BanCorp. (NYSE: FBP) reported a net income of $73.2 million, or $0.40 per diluted share, for Q4 2022, slightly down from the $74.6 million in Q3 2022. For the year, net income reached $305.1 million, up from $281 million in 2021. The pre-tax, pre-provision income was $122.2 million for Q4, marginally lower than the previous quarter. While net interest income decreased to $205.6 million, the net interest margin improved to 4.37%. Total loans increased by $254.3 million, with notable growth in commercial loans. The efficiency ratio decreased to 48.02%.

First BanCorp (NYSE: FBP) announced it will release its fourth quarter financial results on January 27, 2023, before market opening. A conference call and live webcast will follow at 10:00 a.m. Eastern time on the same day, accessible via the Corporation’s investor relations website. A playback of the presentation will be available online until January 27, 2024, and by telephone until February 26, 2023.

First BanCorp. (NYSE: FBP) has been awarded as Puerto Rico’s Bank of the Year - 2022 by The Banker, a publication owned by Financial Times. The recognition is attributed to the Bank's robust capital position, strong profitability, and leadership in the Puerto Rican market. Additionally, The Banker acknowledged the Bank’s advancements in digital banking and its support for clients during the COVID-19 pandemic. President and CEO Aurelio Alemán emphasized the Bank's commitment to its customers and communities, aiming for expanded market share and enhanced self-service digital offerings post the integration of over 150,000 customers.

First BanCorp. (NYSE: FBP) has declared a quarterly cash dividend of $0.12 per share on its common stock. This dividend is set to be paid on December 9, 2022, to shareholders on record as of November 25, 2022. The corporation operates FirstBank Puerto Rico and provides banking services across Puerto Rico, the U.S., British Virgin Islands, and Florida. The announcement highlights the company’s ongoing commitment to returning value to shareholders while maintaining operations in a diversified market.

First BanCorp. reported a net income of $74.6 million for Q3 2022, representing $0.40 per diluted share, slightly down from $74.7 million in Q2 2022. Net interest income increased to $207.9 million driven by higher commercial loan rates and consumer loan balances, with a net interest margin rising to 4.31%. The provision for credit losses rose to $15.8 million, reflecting a deterioration in some macroeconomic forecasts. Total loans increased by $81.3 million, while total deposits decreased by $530.3 million. The efficiency ratio worsened to 48.48% as expenses rose.

First BanCorp (NYSE: FBP) announced it will report its financial results for Q3 2022 on October 25, 2022, before the market opens. A conference call and live webcast are scheduled for the same day at 10:00 a.m. Eastern time, providing insights into the company's performance. Interested listeners can access the call via the corporation's investor relations website or by phone. Replays of the webcast will be available until October 25, 2023, with phone access available until November 24, 2022. First BanCorp operates FirstBank Puerto Rico and other subsidiaries across various locations.

First BanCorp. reported a net income of $74.7 million or $0.38 per diluted share for Q2 2022, down from $82.6 million or $0.41 in Q1 2022. The income before taxes decreased to $108.8 million from $125.6 million. Net interest income rose to $196.2 million, attributed to higher variable-rate loan pricing. However, the provision for credit losses increased to $10 million, reflecting a growing loan portfolio amidst economic uncertainty. Non-interest income declined to $30.9 million, while total deposits fell by $360.2 million.

First BanCorp. (NYSE: FBP) announced a quarterly cash dividend of $0.12 per share, payable on September 9, 2022, to shareholders of record by August 25, 2022. This dividend declaration underscores the company's commitment to returning value to shareholders. The bank operates in Puerto Rico, the U.S., British Virgin Islands, and Florida, with subsidiaries including FirstBank Puerto Rico and FirstBank Insurance Agency. The announcement reflects First BanCorp's financial health and confidence in future earnings.

First BanCorp (NYSE: FBP) announced it will report its Q2 2022 financial results on July 22, 2022, before market opening. A conference call and webcast will take place at 10:00 a.m. ET on the same day to discuss the results. Stakeholders are encouraged to access the call via fbpinvestor.com. Participants can call in using the numbers provided, with a replay available post-call until August 19, 2022. First BanCorp operates primarily in Puerto Rico, the U.S., British Virgin Islands, and Florida, and its shares trade under the symbol “FBP”.