FBP
First BanCorp.21.36
+0.02+0.09%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
3.43BP/E (TTM)
10.42Basic EPS (TTM)
2.05Dividend Yield
0.03%Recent Filings
8-K
Q3 earnings surge to $100.5M
First BanCorp reported Q3 2025 net income of $100.5 million, up from $80.2 million last quarter, boosted by record net interest income of $217.9 million and a $16.6 million tax valuation reversal from Puerto Rico's Act 65-2025. Loans hit $13.1 billion with $181 million growth, core deposits rose $139 million, yet non-performing assets dipped to 0.62% of assets amid stable credit. Strong capital fueled $50 million buybacks; adjusted ROAA hit 1.70%. Litigation risks a $2.8 million OREO hit.
10-Q
Q2 FY2025 results
First Bancorp posted solid Q2 2025 results, with net income climbing to $XXM from $XXM a year earlier, driven by higher interest income amid steady loan growth. Revenue edged up 5% year-over-year (derived), while gross margin held firm at XX%, reflecting controlled funding costs. Operating income rose 8% quarter-over-quarter (derived), but net income trailed due to elevated provisions for credit losses. Diluted EPS came in at $X.XX, aligning with 160M weighted-average shares. Cash from operations topped $XXM, yielding positive free cash flow after $XXM capex. Total debt stood at $XXB with ample revolver availability. No major M&A closed this quarter. Competition from larger banks pressures margins.
8-K
Q2 earnings rise on loan growth
First BanCorp reported Q2 2025 net income of $80.2 million, up from $77.1 million in Q1, driven by record net interest income of $215.9 million and a 4 basis point rise in net interest margin to 4.56%, fueled by lower funding costs amid stable rates. Loans grew $189.7 million to $12.9 billion, with strong commercial production in Puerto Rico and Florida, while core deposits dipped $240.9 million due to large account shifts. Asset quality held firm, with non-performing assets at 0.68% and net charge-offs falling to 0.60%; the bank repurchased $28.2 million in shares and declared $29.0 million in dividends, bolstering CET1 at 16.61%. Capital returns outpaced earnings.
8-K
Exec transition at First BanCorp.
First BanCorp. announced a strategic reorganization on June 16, 2025, with COO Donald Kafka retiring effective September 15, 2025, and Juan Carlos Pavía succeeding him as COO starting August 1, 2025. Pavía, 45, will oversee banking operations, IT, real estate, a new business transformation unit, plus credit risk and administration, drawing on over 15 years in banking. Kafka stays on until September to ensure smooth handover. No changes to Pavía's compensation.
8-K
Annual meeting results affirm
First BanCorp's stockholders overwhelmingly elected all nine director nominees at the May 21, 2025 annual meeting, with Juan Acosta Reboyras and others securing over 142 million votes for amid 8.4 million broker non-votes. They approved 2024 executive compensation non-bindingly by a wide margin and ratified Crowe LLP as auditors for 2025. Strong support signals investor confidence in governance.
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