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. 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) 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”.
First BanCorp. (FBP) reported a net income of $82.6 million or $0.41 per diluted share for Q1 2022, up from $73.6 million or $0.35 in Q4 2021. Adjusted pre-tax, pre-provision income reached a record $111.8 million, reflecting a 7% increase from the previous quarter. Net interest income rose to $185.6 million, supported by a higher net interest margin of 3.81%. Total deposits increased by $55 million to $14.5 billion. The company completed its $300 million stock repurchase program and announced a new $350 million program, alongside a dividend increase to $0.12 per share.
First BanCorp (NYSE: FBP) has announced a $350 million stock repurchase program and a 20% increase in its quarterly cash dividend to $0.12 per share. The repurchase program will take place over the next four quarters, reflecting the Corporation's confidence in its strong capital position. The dividend increase will be effective for shareholders of record as of May 25, 2022, with payment on June 10, 2022. These capital actions aim to enhance shareholder value and reinforce the Corporation's commitment to strategic capital allocation.
First BanCorp (NYSE: FBP), parent company of FirstBank Puerto Rico, has released its inaugural Environmental, Social and Governance (ESG) Report for 2021. The report covers governance, responsible business practices, and community engagement. CEO Aurelio Aleman emphasized the bank's commitment to investing in people and communities. Additionally, the Board approved a Sustainability Policy to guide their ESG activities. The report aligns with Sustainability Accounting Standards Board and United Nations Sustainable Development Goals, demonstrating First BanCorp's commitment to sustainability.
First BanCorp (NYSE: FBP) announced it will report its financial results for the first quarter ending March 31, 2022, before the market opens on April 28, 2022. A conference call to discuss the results is scheduled for 10:00 a.m. Eastern Time the same day, broadcasted live through the company’s investor relations website. A replay of the webcast will be available for one year, and a telephone replay will be accessible for one month. First BanCorp operates FirstBank Puerto Rico and has a presence in Puerto Rico, the U.S., British Virgin Islands, and Florida.
First BanCorp. (NYSE: FBP) announced a quarterly cash dividend of $0.10 per share on its outstanding common stock. The dividend will be payable on March 11, 2022 to shareholders of record as of the close of business on February 25, 2022. This declaration reflects the Corporation's ongoing commitment to return value to its shareholders.
First BanCorp. reported a net income of $73.6 million, or $0.35 per diluted share, for Q4 2021, down from $75.7 million in Q3 2021. Annual net income reached $281.0 million, or $1.31 per diluted share, compared to $102.3 million in 2020. Adjusted pre-tax, pre-provision income rose 30.6% year-over-year to $391.5 million. Notably, non-performing assets decreased 46.1% year-over-year to $158.1 million. The bank repurchased 4.6 million shares in Q4 and aims for continued growth amid a positive economic backdrop.