NYSE : FBP
First BanCorp. — Financial statements
Financials · Banks - Regional · United States
Last price 26.7 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.00B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 999.54M | 979.14M | 965.47M | 890.56M | 747.90M | 719.15M |
| Interest Income on Investments | 144.02M | 144.02M | 129.68M | 132.92M | 114.71M | 75.56M |
| Total Interest Income | 1.14B | 1.12B | 1.10B | 1.02B | 862.61M | 794.71M |
| Interest Paid on Deposits | 226.65M | 237.68M | 253.11M | 185.46M | 46.36M | 41.48M |
| Interest Paid on Borrowings | 16.53M | 16.53M | 34.57M | 40.91M | 20.96M | 23.30M |
| Total Interest Expense | 243.18M | 254.22M | 287.67M | 226.38M | 67.32M | 64.78M |
| Net Interest Income | 900.38M | 868.94M | 807.48M | 797.11M | 795.29M | 729.93M |
| Mortgage Banking Activities | 15.68M | 14.11M | 12.68M | 10.59M | 15.19M | 24.87M |
| Gain (Loss) on Sale of Assets | 16.00K | 16.00K | 103.00K | 3.51M | 924.00K | 32.00K |
| Gain (Loss) on Sale of Investments | 125.00K | 125.00K | -19.00K | 21.00K | -522.00K | -102.00K |
| Other Non-Interest Income | 85.07M | 78.56M | 77.61M | 74.95M | 69.61M | 60.40M |
| Total Non-Interest Income | 140.41M | 131.88M | 129.20M | 127.11M | 123.03M | 120.49M |
| Revenues Before Loan Losses | 1.04B | 1.00B | 936.68M | 924.22M | 918.32M | 850.42M |
| Provision for Loan Losses | 72.21M | 85.96M | 59.92M | 60.94M | 27.70M | -65.70M |
| Revenue | 968.58M | 914.86M | 876.76M | 863.28M | 890.62M | 916.12M |
| Salaries and Employee Benefits | 246.12M | 235.06M | 226.99M | 215.06M | 200.63M | 194.93M |
| Occupancy Expenses | 70.57M | 71.21M | 70.33M | 68.61M | 69.88M | 72.45M |
| Federal Deposit Insurance | 8.44M | 8.77M | 8.72M | 8.56M | 6.15M | 6.54M |
| Selling, General & Administrative | 105.59M | 101.54M | 102.69M | 99.13M | 98.61M | 108.34M |
| Other Non-Interest Expense | 85.28M | 84.18M | 84.73M | 80.90M | 73.67M | 79.74M |
| Total Non-Interest Expense | 512.62M | 499.22M | 485.97M | 465.12M | 443.11M | 459.84M |
| EBT Excluding Unusual Items | 455.96M | 415.63M | 390.78M | 398.16M | 447.52M | 456.27M |
| Asset Writedown | 66.00K | 124.00K | ||||
| Legal Settlements | 3.60M | |||||
| Other Unusual Items | 1.10M | 1.10M | -1.10M | -4.71M | -2.70M | |
| Pretax Income | 457.06M | 416.73M | 391.21M | 397.44M | 447.58M | 427.82M |
| Income Tax Expense | 88.91M | 71.87M | 92.48M | 94.57M | 142.51M | 146.79M |
| Net Income | 368.15M | 344.87M | 298.72M | 302.86M | 305.07M | 281.02M |
| Preferred Dividends & Other Adjustments | 3.69M | |||||
| Net Income to Common | 368.15M | 344.87M | 298.72M | 302.86M | 305.07M | 277.34M |
| Basic Shares Outstanding | 154.13M | 159.96M | 164.55M | 176.50M | 190.81M | 210.12M |
| Diluted Shares Outstanding | 154.95M | 160.74M | 165.27M | 177.18M | 191.97M | 211.30M |
| EPS (Basic) | 2.39 | 2.16 | 1.82 | 1.72 | 1.60 | 1.32 |
| EPS (Diluted) | 2.38 | 2.15 | 1.81 | 1.71 | 1.59 | 1.31 |
| Dividend Per Share | 0.78 | 0.72 | 0.64 | 0.56 | 0.46 | 0.31 |
| Effective Tax Rate | 19.45% | 17.25% | 23.64% | 23.80% | 31.84% | 34.31% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 461.01M | 658.10M | 159.41M | 662.76M | 479.70M | 1.34B |
| Investment Securities | 4.98B | 1.50B | 2.01B | 2.57B | 2.66B | 2.59B |
| Trading Asset Securities | 345.00K | 318.00K | 341.00K | 633.00K | 1.50M | |
| Mortgage-Backed Securities | 2.60M | 3.34B | 2.89B | 3.03B | 3.38B | 4.04B |
| Total Investments | 4.98B | 4.84B | 4.90B | 5.60B | 6.04B | 6.64B |
| Gross Loans | 13.38B | 13.24B | 12.88B | 12.32B | 11.66B | 11.14B |
| Allowance for Loan Losses | -241.67M | -249.04M | -243.94M | -261.84M | -260.46M | -269.03M |
| Other Adjustments to Gross Loans | -116.80M | -130.40M | -132.60M | -103.40M | -79.00M | |
| Net Loans | 13.14B | 12.88B | 12.50B | 11.92B | 11.29B | 10.79B |
| Property, Plant & Equipment | 128.40M | 199.11M | 196.60M | 210.51M | 221.79M | 236.74M |
| Goodwill | 38.61M | 38.61M | 38.61M | 38.61M | 38.61M | 38.61M |
| Other Intangible Assets | 2.80M | 3.46M | 6.97M | 13.38M | 21.12M | 29.93M |
| Loans Held for Sale | 16.70M | 15.28M | 7.37M | 12.31M | 35.16M | |
| Accrued Interest Receivable | 75.87M | 71.35M | 71.88M | 77.72M | 69.73M | 61.51M |
| Other Receivables | 4.10M | 5.20M | 16.60M | 23.50M | 22.20M | |
| Restricted Cash | 500.00K | 1.00B | 400.00K | 800.00K | 1.20B | |
| Long-Term Deferred Tax Assets | 135.04M | 149.01M | 136.36M | 150.13M | 155.58M | 208.48M |
| Other Real Estate Owned & Foreclosed | 17.94M | 21.53M | 30.79M | 42.20M | 39.22M | 47.38M |
| Other Long-Term Assets | 269.27M | 230.41M | 194.60M | 134.25M | 195.06M | 113.58M |
| Total Assets | 19.25B | 19.13B | 19.29B | 18.91B | 18.63B | 20.79B |
| Accounts Payable | 232.41M | 131.31M | 124.74M | 122.52M | 149.15M | 119.90M |
| Interest Bearing Deposits | 11.45B | 9.32B | 9.82B | 9.75B | 9.03B | 9.76B |
| Institutional Deposits | 1.80B | 1.50B | 1.40B | 1.00B | 1.00B | |
| Non-Interest Bearing Deposits | 5.47B | 5.55B | 5.55B | 5.40B | 6.11B | 7.03B |
| Total Deposits | 16.92B | 16.67B | 16.87B | 16.56B | 16.14B | 17.78B |
| Short-Term Borrowings | 23.80M | 200.00K | 150.00K | 317.00K | 75.61M | 1.18M |
| Current Portion of Long-Term Debt | 90.00M | 475.00M | 200.00M | |||
| Current Portion of Leases | 17.61M | |||||
| Long-Term Debt | 300.00M | |||||
| Federal Home Loan Bank Debt, Long-Term | 200.00M | 200.00M | 500.00M | 500.00M | 200.00M | |
| Long-Term Leases | 56.76M | 65.80M | 71.42M | 81.95M | 93.77M | |
| Trust Preferred Securities | 61.70M | 161.70M | 183.76M | 183.76M | ||
| Total Liabilities | 17.37B | 17.17B | 17.62B | 17.41B | 17.31B | 18.68B |
| Common Stock | 22.37M | 22.37M | 22.37M | 22.37M | 22.37M | 22.37M |
| Additional Paid-In Capital | 957.92M | 963.54M | 964.96M | 965.71M | 970.72M | 972.55M |
| Retained Earnings | 2.46B | 2.27B | 2.04B | 1.85B | 1.64B | 1.43B |
| Treasury Stock | -1.07B | -932.50M | -790.35M | -697.41M | -506.98M | -236.44M |
| Comprehensive Income & Other | -487.82M | -354.55M | -566.56M | -639.17M | -804.78M | -84.00M |
| Total Common Equity | 1.88B | 1.97B | 1.67B | 1.50B | 1.33B | 2.10B |
| Shareholders' Equity | 1.88B | 1.97B | 1.67B | 1.50B | 1.33B | 2.10B |
| Total Liabilities & Equity | 19.25B | 19.13B | 19.29B | 18.91B | 18.63B | 20.79B |
| Total Debt | 223.81M | 364.57M | 627.65M | 733.44M | 1.02B | 778.71M |
| Net Cash (Debt) | 238.21M | 293.88M | -467.92M | -70.33M | -535.99M | 565.85M |
| Net Cash Per Share | 1.54 | 1.83 | -2.83 | -0.40 | -2.79 | 2.68 |
| Filing Date Shares Outstanding | 149.91M | 155.53M | 162.86M | 166.43M | 179.65M | 197.27M |
| Total Common Shares Outstanding | 149.91M | 155.59M | 162.86M | 168.41M | 181.77M | 200.68M |
| Book Value Per Share | 12.51 | 12.64 | 10.25 | 8.89 | 7.29 | 10.47 |
| Tangible Book Value | 1.83B | 1.92B | 1.62B | 1.45B | 1.27B | 2.03B |
| Tangible Book Value Per Share | 12.23 | 12.37 | 9.97 | 8.58 | 6.96 | 10.13 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 344.87M | 298.72M | 302.86M | 305.07M | 281.02M | |
| Depreciation & Amortization | 20.75M | 25.00M | 28.24M | 31.11M | 36.37M | |
| Other Amortization | 711.00K | 757.00K | 309.00K | 106.00K | 218.00K | |
| Gain (Loss) on Sale of Assets | -16.00K | -103.00K | -3.51M | -706.00K | -32.00K | |
| Gain (Loss) on Sale of Investments | -4.07M | 4.53M | 4.67M | 2.34M | 22.32M | |
| Provision for Credit Losses | 85.96M | 59.92M | 60.94M | 27.70M | -65.70M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 3.49M | -4.70M | 2.43M | 20.24M | 25.05M | |
| Accrued Interest Receivable | -11.09M | 5.60M | -5.44M | -11.34M | 7.70M | |
| Change in Other Net Operating Assets | 13.24M | -10.69M | -57.91M | 18.00M | 11.84M | |
| Other Operating Activities | -12.42M | 14.13M | 4.50M | 54.22M | 118.32M | |
| Operating Cash Flow | 448.56M | 404.15M | 362.96M | 440.49M | 399.72M | |
| Capital Expenditures | -11.03M | -10.01M | -22.60M | -20.46M | -13.35M | |
| Sale of Property, Plant and Equipment | 25.00K | 1.35M | 4.47M | 1.20M | 832.00K | |
| Cash Acquisitions | -3.38M | |||||
| Investment in Securities | 286.54M | 766.89M | 635.82M | -166.79M | -1.98B | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -501.30M | -687.01M | -750.50M | -541.68M | 680.55M | |
| Other Investing Activities | 55.37M | 65.01M | 54.35M | 46.28M | 56.42M | |
| Investing Cash Flow | -170.39M | 136.23M | -78.45M | -681.46M | -1.26B | |
| Short-Term Debt Issued | 550.13M | |||||
| Long-Term Debt Issued | 300.00M | 200.00M | ||||
| Total Debt Issued | 300.00M | 750.13M | ||||
| Short-Term Debt Repaid | -550.13M | |||||
| Long-Term Debt Repaid | -269.85M | -97.00M | -19.80M | -500.00M | -240.00M | |
| Total Debt Repaid | -269.85M | -97.00M | -569.93M | -500.00M | -240.00M | |
| Net Debt Issued (Repaid) | -269.85M | -97.00M | -269.93M | 250.13M | -240.00M | |
| Repurchase of Common Stock | -153.67M | -102.39M | -203.24M | -277.77M | -216.52M | |
| Preferred Share Repurchases | -36.10M | |||||
| Common Dividends Paid | -115.52M | -105.58M | -99.67M | -87.82M | -65.02M | |
| Preferred Dividends Paid | -2.45M | |||||
| Total Dividends Paid | -115.52M | -105.58M | -99.67M | -87.82M | -67.47M | |
| Net Increase (Decrease) in Deposit Accounts | -239.94M | 260.84M | 470.98M | -1.71B | 2.47B | |
| Financing Cash Flow | -778.98M | -44.13M | -101.85M | -1.82B | 1.91B | |
| Net Cash Flow | -500.82M | 496.25M | 182.66M | -2.06B | 1.05B | |
| Free Cash Flow | 437.52M | 394.14M | 340.36M | 420.03M | 386.37M | |
| Free Cash Flow Margin | 47.82% | 44.95% | 39.43% | 47.16% | 42.18% | |
| Free Cash Flow Per Share | 2.72 | 2.38 | 1.92 | 2.19 | 1.83 | |
| Cash Interest Paid | 250.81M | 281.73M | 207.83M | 65.99M | 68.67M | |
| Cash Income Tax Paid | 72.50M | 93.23M | 109.51M | 51.80M | 15.48M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.95B | 3.25B | 3.03B | 2.82B | 2.34B | 2.82B |
| Last Close Price | 26.18 | 20.23 | 17.52 | 14.98 | 11.11 | 11.66 |
| PE Ratio | 11.07 | 9.43 | 10.13 | 9.32 | 7.66 | 10.16 |
| PS Ratio | 4.05 | 3.56 | 3.45 | 3.27 | 2.62 | 3.08 |
| PB Ratio | 2.09 | 1.65 | 1.81 | 1.89 | 1.76 | 1.34 |
| P/FCF Ratio | 8.90 | 7.43 | 7.68 | 8.30 | 5.56 | 7.29 |
| P/OCF Ratio | 8.57 | 7.25 | 7.49 | 7.78 | 5.30 | 7.05 |
| Debt / Equity Ratio | 0.12 | 0.18 | 0.38 | 0.49 | 0.77 | 0.37 |
| Debt / FCF Ratio | 0.83 | 1.59 | 2.15 | 2.42 | 2.02 | |
| Net Debt / Equity Ratio | -0.13 | -0.15 | 0.28 | 0.05 | 0.40 | -0.27 |
| Net Debt / FCF Ratio | -0.67 | 1.19 | 0.21 | 1.28 | -1.47 | |
| Return on Equity (ROE) | 19.41% | 18.97% | 18.87% | 21.46% | 17.80% | 12.84% |
| Return on Assets (ROA) | 1.91% | 1.80% | 1.56% | 1.61% | 1.55% | 1.42% |
| Earnings Yield | 9.03% | 10.60% | 9.87% | 10.73% | 13.06% | 9.98% |
| FCF Yield | 11.24% | 13.45% | 13.02% | 12.05% | 17.98% | 13.71% |
| Dividend Yield | 3.82% | 3.44% | 3.44% | 3.34% | 3.58% | 2.21% |
| Payout Ratio | 35.72% | 33.50% | 35.34% | 32.91% | 28.79% | 24.01% |
| Buyback Yield / Dilution | 4.52% | 2.74% | 6.72% | 7.70% | 9.15% | 2.93% |
| Total Shareholder Return | 8.34% | 6.18% | 10.17% | 11.04% | 12.73% | 5.13% |