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 strong fourth quarter of 2020 with a net income of $50.1 million, or $0.23 per diluted share, up from $28.6 million in the previous quarter. The year-end net income totaled $102.3 million, a decrease from $167.4 million in 2019 due to COVID-related credit loss reserves. Total loan originations reached $4.4 billion, while organic core deposits grew by $2.0 billion, with the BSPR acquisition contributing $4.1 billion in deposits. Adjusted pre-tax, pre-provision income increased by 6% to $299.8 million for 2020.
First BanCorp (NYSE: FBP) announced a quarterly cash dividend increase to $0.07 per share, up from $0.05. This dividend, reflecting a boost of $0.02, is payable on March 12, 2021, for shareholders on record as of February 26, 2021. The annualized rate now stands at $0.28 per common share. CEO Aurelio Alemán expressed satisfaction with the dividend increase, attributing it to strong current and projected earnings as the company advances its business strategy.
First BanCorp. (NYSE: FBP) has announced it will report its financial results for Q4 and the full year ended December 31, 2020, before the market opens on January 29, 2021. A conference call and live webcast are set for 10:00 a.m. Eastern time on the same day. Investors can access the webcast through the company’s website, with dial-in options available for phone listeners. The replay will be archived on the website until January 29, 2022, and a telephone replay will be offered until March 1, 2021.
First BanCorp. (NYSE: FBP) declared monthly cash dividends on its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends include:
- Series A: 7.125% annual rate, $0.14843750 per share, record date January 28, 2021, payment date February 1, 2021.
- Series B: 8.35% annual rate, $0.17395800 per share, record date January 15, 2021, payment date February 1, 2021.
- Series C: 7.40% annual rate, $0.15416670 per share, record date January 15, 2021, payment date February 1, 2021.
- Series D: 7.25% annual rate, $0.15104167 per share, record date January 15, 2021, payment date February 1, 2021.
- Series E: 7.00% annual rate, $0.14583330 per share, record date January 15, 2021, payment date February 1, 2021.