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) 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.
First BanCorp (NYSE: FBP) announced it will release its second quarter financial results for the period ending June 30, 2021, on July 23, 2021, before market opening. A conference call and live webcast discussing these results will take place at 10:00 a.m. Eastern time on the same day. Interested parties can access the webcast via the investor relations section of First BanCorp’s website. Replays of the call will be available for a limited time.
First BanCorp operates FirstBank Puerto Rico and has various subsidiaries across multiple regions.