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. (NYSE: FBP) is a Puerto Rico-based financial holding company and the bank holding company for FirstBank Puerto Rico. This news page aggregates Business Wire announcements, earnings releases, rating actions, and other public updates related to First BanCorp. and its FBP stock, with a focus on how the corporation’s commercial banking activities evolve over time.
Visitors can review quarterly earnings announcements where First BanCorp. reports net income, net interest income, provision for credit losses, non-interest income, non-interest expenses, and key ratios such as net interest margin, efficiency ratio, return on average assets, and return on average equity. Management commentary in these releases discusses factors such as loan growth across commercial, construction, residential mortgage, and consumer portfolios, as well as trends in core deposits, government deposits, and brokered certificates of deposit.
The news feed also includes capital actions such as declarations of quarterly cash dividends on common stock and approvals of stock repurchase programs, as disclosed in press releases. In addition, rating agency actions, such as KBRA’s assignment of senior unsecured and deposit ratings to First BanCorp. and FirstBank Puerto Rico, appear in the news flow and provide third-party perspectives on the corporation’s capitalization, deposit base, net interest margin, and risk management.
Investors following FBP can use this page to track announcements about upcoming earnings release dates, conference calls, and webcasts, as well as detailed post-earnings summaries that highlight changes in asset quality, liquidity, capital ratios, and regional performance in Puerto Rico, Florida, and the Virgin Islands. Bookmark this page to access a consolidated view of First BanCorp.’s public news and disclosures relevant to its stock and 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.
First BanCorp (NYSE: FBP) announced its upcoming financial results for the first quarter ending March 31, 2023, scheduled for release before market opening on April 25, 2023. A conference call and live webcast will follow at 10:00 a.m. Eastern time on the same day to discuss the results. Investors can access the information through the Corporation's investor relations website. Participants are encouraged to join at least 15 minutes early to ensure proper software installation. The conference call will also include a Q&A session for research analysts and institutional investors. A replay of the webcast will be available for one year, while the telephone replay will last until May 25, 2023. First BanCorp operates through FirstBank Puerto Rico and has a presence in Puerto Rico, the U.S., British Virgin Islands, and Florida.
First BanCorp. (NYSE: FBP) has declared a quarterly cash dividend of $0.14 per share, marking a 17% increase or $0.02 from the previous dividend paid in December 2022. The dividend will be payable on March 10, 2023 to shareholders of record as of February 24, 2023. This equates to an annualized dividend of $0.56 per share. Aurelio Alemán, the President and CEO, emphasized the company's commitment to returning capital to shareholders while investing in its core operations and communities, aiming to deliver long-term value.
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.