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First BanCorp. - FBP STOCK NEWS

Welcome to our dedicated page for First BanCorp. news (Ticker: FBP), a resource for investors and traders seeking the latest updates and insights on First BanCorp. stock.

First BanCorp (symbol: FBP) is a leading financial holding company with a rich history spanning over 65 years. Based in Puerto Rico, the company operates more than 140 branches, offices, and service centers spread across Puerto Rico, the Virgin Islands, and Florida. First BanCorp is committed to providing top-notch banking services to its customers, treating each client as a valuable member of the bank's community.

First BanCorp's core business is divided into several segments, including Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations. The Consumer (Retail) Banking segment is the cornerstone of the company's business, generating the majority of its revenue through consumer lending and deposit-taking activities conducted mainly via its extensive branch network and loan centers.

The company prides itself on its innovative products and services, designed to make the banking experience seamless and efficient for individuals, small and medium-sized businesses, and corporations. First BanCorp's team of experts is dedicated to making banking more accessible and user-friendly, showing customers the human side of banking.

Despite its regional focus, First BanCorp has shown financial robustness and operational efficiency, ensuring a solid presence in the financial industry. Its strategic partnerships and continuous improvement in service delivery have positioned it as a trustworthy financial institution in its operating regions.

Stay updated with the latest news and developments about First BanCorp by visiting our site regularly.

News

First BanCorp. Increases Quarterly Cash Dividend on Common Stock to $0.16

Rhea-AI Summary
First BanCorp. (NYSE: FBP) has announced a 14% increase in its quarterly cash dividend to $0.16 per share, up from $0.14. The dividend is payable on March 8, 2024, to shareholders of record on February 23, 2024. This increase demonstrates the company's commitment to increasing shareholder value and maintaining a strong capital position.
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First BanCorp. Announces Earnings for the Quarter and Year Ended December 31, 2023

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First BanCorp. (FBP) reported a net income of $79.5 million for Q4 2023, compared to $82.0 million for Q3 2023. For the year ended December 31, 2023, the net income was $302.9 million. The return on average assets for Q4 2023 was 1.70%, and the net interest margin remained flat at 4.14%. Non-interest income increased to $33.6 million, and non-interest expenses increased to $126.6 million. Total loans grew by $233.0 million, and total deposits decreased by $261.9 million. The Corporation returned approximately $300 million to its shareholders through repurchases of common stock and dividends. The tangible common equity ratio increased to 7.67% as of December 31, 2023.
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2.08%
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First Bancorp to Announce 4Q 2023 Results on January 24, 2024

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First BanCorp (NYSE: FBP) expects to report its Q4 2023 financial results on January 24, 2024. The conference call and webcast to discuss the results will be held at 11:00 a.m. Eastern time on the same day. The webcast will be available on the Corporation’s investor relations website: fbpinvestor.com. Listeners can also access the call through a dial-in telephone number. A question-and-answer session will follow the presentation, and a replay will be archived on the website until January 24, 2025.
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First BanCorp Declares Quarterly Cash Dividend on Common Stock

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First BanCorp. (NYSE: FBP) has declared a quarterly cash dividend of $0.14 per share on its outstanding common stock. The dividend will be payable on December 8, 2023, to shareholders of record as of November 24, 2023.
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First BanCorp. Announces Earnings for the Quarter Ended September 30, 2023

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First BanCorp reports net income of $82.0 million for Q3 2023
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First BanCorp to Announce 3Q 2023 Results on October 20, 2023

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First BanCorp to report Q3 2023 financial results on October 20, 2023
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First BanCorp. Announces Earnings for the Quarter Ended June 30, 2023

Rhea-AI Summary
First BanCorp. (NYSE: FBP) reported a net income of $70.7 million, or $0.39 per diluted share, for the second quarter of 2023, consistent with the first quarter. Key financial metrics include a return on average assets of 1.51%, net interest income of $199.8 million, and non-interest income of $36.3 million. Provision for credit losses increased to $22.2 million, and total loans increased by $140.4 million to $11.7 billion. Total deposits increased by $767.7 million to $16.8 billion.
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First BanCorp Announces Capital Actions

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First BanCorp. announces new stock repurchase program of up to $225 million and declares quarterly cash dividend of $0.14 per share on outstanding common stock.
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First BanCorp to Announce 2Q 2023 Results on July 27, 2023

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First BanCorp Announces the Release of Its 2022 Corporate Sustainability Report

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FAQ

What is the current stock price of First BanCorp. (FBP)?

The current stock price of First BanCorp. (FBP) is $18.38 as of December 20, 2024.

What is the market cap of First BanCorp. (FBP)?

The market cap of First BanCorp. (FBP) is approximately 3.0B.

What is First BanCorp?

First BanCorp is a financial holding company operating over 140 branches in Puerto Rico, the Virgin Islands, and Florida.

What segments does First BanCorp operate in?

First BanCorp operates in Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, US Operations, and Virgin Islands Operations.

Where does First BanCorp generate most of its revenue?

Most of First BanCorp's revenue comes from the Consumer (Retail) Banking segment, primarily through consumer lending and deposit-taking activities.

Where is First BanCorp geographically focused?

First BanCorp's primary geographical focus is in Puerto Rico, but it also operates in the Virgin Islands and Florida.

How long has First BanCorp been in operation?

First BanCorp has been operating for over 65 years.

What makes First BanCorp's services innovative?

First BanCorp offers expert-driven, innovative banking products and services designed to simplify the banking experience for all customers.

How does First BanCorp treat its customers?

First BanCorp treats each client as a valuable member of the bank's community, emphasizing personalized and attentive service.

What kind of businesses does First BanCorp serve?

First BanCorp serves individuals, small and medium-sized businesses, and corporations.

What is the significance of First BanCorp's branch network?

First BanCorp's extensive branch network allows it to conduct consumer lending and deposit-taking activities efficiently.

How can I stay updated with First BanCorp's latest news?

Visit our site regularly to stay updated with the latest news and developments about First BanCorp.

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First BanCorp.

NYSE:FBP

FBP Rankings

#1652 Ranked by Market Cap
#910 Ranked by Dividends

FBP Stock Data

3.02B
160.55M
1.76%
96.77%
1.67%
Banks - Regional
State Commercial Banks
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United States of America
SAN JUAN