First Bancorp P R - FBP STOCK NEWS

First BanCorp. (NYSE: FBP) has declared a quarterly cash dividend of $0.12 per share on its common stock. This dividend is set to be paid on December 9, 2022, to shareholders on record as of November 25, 2022. The corporation operates FirstBank Puerto Rico and provides banking services across Puerto Rico, the U.S., British Virgin Islands, and Florida. The announcement highlights the company’s ongoing commitment to returning value to shareholders while maintaining operations in a diversified market.

First BanCorp. reported a net income of $74.6 million for Q3 2022, representing $0.40 per diluted share, slightly down from $74.7 million in Q2 2022. Net interest income increased to $207.9 million driven by higher commercial loan rates and consumer loan balances, with a net interest margin rising to 4.31%. The provision for credit losses rose to $15.8 million, reflecting a deterioration in some macroeconomic forecasts. Total loans increased by $81.3 million, while total deposits decreased by $530.3 million. The efficiency ratio worsened to 48.48% as expenses rose.

First BanCorp (NYSE: FBP) announced it will report its financial results for Q3 2022 on October 25, 2022, before the market opens. A conference call and live webcast are scheduled for the same day at 10:00 a.m. Eastern time, providing insights into the company's performance. Interested listeners can access the call via the corporation's investor relations website or by phone. Replays of the webcast will be available until October 25, 2023, with phone access available until November 24, 2022. First BanCorp operates FirstBank Puerto Rico and other subsidiaries across various locations.

First BanCorp. reported a net income of $74.7 million or $0.38 per diluted share for Q2 2022, down from $82.6 million or $0.41 in Q1 2022. The income before taxes decreased to $108.8 million from $125.6 million. Net interest income rose to $196.2 million, attributed to higher variable-rate loan pricing. However, the provision for credit losses increased to $10 million, reflecting a growing loan portfolio amidst economic uncertainty. Non-interest income declined to $30.9 million, while total deposits fell by $360.2 million.

First BanCorp. (NYSE: FBP) announced a quarterly cash dividend of $0.12 per share, payable on September 9, 2022, to shareholders of record by August 25, 2022. This dividend declaration underscores the company's commitment to returning value to shareholders. The bank operates in Puerto Rico, the U.S., British Virgin Islands, and Florida, with subsidiaries including FirstBank Puerto Rico and FirstBank Insurance Agency. The announcement reflects First BanCorp's financial health and confidence in future earnings.

First BanCorp (NYSE: FBP) announced it will report its Q2 2022 financial results on July 22, 2022, before market opening. A conference call and webcast will take place at 10:00 a.m. ET on the same day to discuss the results. Stakeholders are encouraged to access the call via fbpinvestor.com. Participants can call in using the numbers provided, with a replay available post-call until August 19, 2022. First BanCorp operates primarily in Puerto Rico, the U.S., British Virgin Islands, and Florida, and its shares trade under the symbol “FBP”.

First BanCorp. (FBP) reported a net income of $82.6 million or $0.41 per diluted share for Q1 2022, up from $73.6 million or $0.35 in Q4 2021. Adjusted pre-tax, pre-provision income reached a record $111.8 million, reflecting a 7% increase from the previous quarter. Net interest income rose to $185.6 million, supported by a higher net interest margin of 3.81%. Total deposits increased by $55 million to $14.5 billion. The company completed its $300 million stock repurchase program and announced a new $350 million program, alongside a dividend increase to $0.12 per share.

First BanCorp (NYSE: FBP) has announced a $350 million stock repurchase program and a 20% increase in its quarterly cash dividend to $0.12 per share. The repurchase program will take place over the next four quarters, reflecting the Corporation's confidence in its strong capital position. The dividend increase will be effective for shareholders of record as of May 25, 2022, with payment on June 10, 2022. These capital actions aim to enhance shareholder value and reinforce the Corporation's commitment to strategic capital allocation.

First BanCorp (NYSE: FBP), parent company of FirstBank Puerto Rico, has released its inaugural Environmental, Social and Governance (ESG) Report for 2021. The report covers governance, responsible business practices, and community engagement. CEO Aurelio Aleman emphasized the bank's commitment to investing in people and communities. Additionally, the Board approved a Sustainability Policy to guide their ESG activities. The report aligns with Sustainability Accounting Standards Board and United Nations Sustainable Development Goals, demonstrating First BanCorp's commitment to sustainability.