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. (FBP) reported a third quarter net income of $75.7 million ($0.36 per diluted share), up from $70.6 million ($0.33) in Q2 2021. The results include a $12.1 million net benefit from credit loss provisions, though this is lower than the $26.2 million in Q2. The bank incurred $2.3 million in merger costs related to Banco Santander Puerto Rico. Despite a 0.99% annualized net charge-off to average loans ratio, non-performing assets dropped 32.5% to $172.4 million. Total deposits rose by $288.5 million, though total loans decreased by $249.0 million.
First BanCorp. (NYSE: FBP) declared a quarterly cash dividend of $0.10 per share, a 43% increase from the previous dividend of $0.07 paid in September 2021. This change reflects the corporation’s commitment to enhancing shareholder value and demonstrates strong balance sheet performance. The dividend is payable on December 10, 2021, to shareholders of record by November 26, 2021. The annualized dividend now stands at $0.40 per share.
First BanCorp. (NYSE: FBP) has announced the redemption of all its outstanding Series A through E Noncumulative Perpetual Monthly Income Preferred Stock, scheduled for November 30, 2021. The redemption price is $25.00 per share, plus any accrued but unpaid dividends. The total outstanding shares for each series include 197,386 for Series A, 296,146 for Series B, 249,852 for Series C, 285,522 for Series D, and 415,240 for Series E. Shareholders will receive official notice of the redemption in accordance with the Corporation's Certificate of Designation.
Banesco USA has appointed Calixto (Cali) Garcia-Velez as the new President and CEO, following the departure of Mario Oliva on October 12, 2021. The board expressed gratitude for Oliva's leadership over the past two years, during which significant progress was made. Garcia-Velez, a Miami native with extensive banking experience, aims to enhance the bank's growth in commercial, corporate, and consumer banking. He previously served as Executive VP at First BanCorp and held various roles at Citibank and Doral Bank, showcasing a strong track record in the banking sector.
First BanCorp. (NYSE: FBP) has announced that it will report its financial results for the third quarter ending September 30, 2021, on October 25, 2021, before the market opens. A conference call and live webcast will follow at 10:00 a.m. Eastern time on the same day. The call can be accessed via the company's investor relations website or through a designated dial-in number. A replay will be available for one year after the event. First BanCorp. is the parent of FirstBank Puerto Rico, with operations in Puerto Rico, the U.S., British Virgin Islands, and Florida.
First BanCorp. (NYSE: FBP) has declared monthly cash dividends on its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends include Series A at $0.14843750 with a 7.125% annual rate, Series B at $0.17395800 with an 8.35% rate, Series C at $0.15416670 with a 7.40% rate, Series D at $0.15104167 with a 7.25% rate, and Series E at $0.14583330 with a 7.00% rate. The record date for these dividends is on October 15, 2021, with payment set for November 1, 2021.
First BanCorp. (NYSE: FBP) announced the declaration of monthly cash dividends for Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends are as follows: Series A at $0.14843750, Series B at $0.17395800, Series C at $0.15416670, Series D at $0.15104167, and Series E at $0.14583330. The record date for Series A is September 28, 2021, while Series B, C, D, and E have a record date of September 15, 2021. All payments are scheduled for September 30, 2021.
First BanCorp (NYSE: FBP) has declared monthly cash dividends for its Series A to E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends are as follows:
- Series A: 7.125% annual rate; $0.1484 per share; 197,386 shares; record date August 27, 2021; payment date August 31, 2021.
- Series B: 8.35% annual rate; $0.1740 per share; 296,146 shares; record date August 15, 2021; payment date August 31, 2021.
- Series C: 7.40% annual rate; $0.1542 per share; 249,852 shares; record date August 15, 2021; payment date August 31, 2021.
- Series D: 7.25% annual rate; $0.1510 per share; 285,522 shares; record date August 15, 2021; payment date August 31, 2021.
- Series E: 7.00% annual rate; $0.1458 per share; 415,240 shares; record date August 15, 2021; payment date August 31, 2021.
First BanCorp. (NYSE: FBP) has declared a quarterly cash dividend of $0.07 per share on its common stock. The payment date is set for September 10, 2021, for shareholders of record as of August 26, 2021. First BanCorp. serves as the bank holding company for FirstBank Puerto Rico and operates in Puerto Rico, Florida, and the Virgin Islands. The press release also indicates that future dividend declarations will depend on the Corporation's financial performance and market conditions, highlighting potential risks associated with future payouts.
First BanCorp. (FBP) reported a net income of $70.6 million or $0.33 per diluted share in Q2 2021, reflecting a significant increase from $21.3 million or $0.09 per share a year ago. This quarter's results included a $26.2 million net benefit recorded due to improvements in macroeconomic forecasts. The bank repurchased 7.96 million shares during the quarter. Despite strong deposit growth, overall loan portfolio declined, attributed mainly to commercial payoffs. Adjusted net income was $78.2 million, indicating ongoing recovery.