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.
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.
First BanCorp (NYSE: FBP) announced it will report its financial results for the first quarter ending March 31, 2022, before the market opens on April 28, 2022. A conference call to discuss the results is scheduled for 10:00 a.m. Eastern Time the same day, broadcasted live through the company’s investor relations website. A replay of the webcast will be available for one year, and a telephone replay will be accessible for one month. First BanCorp operates FirstBank Puerto Rico and has a presence in Puerto Rico, the U.S., British Virgin Islands, and Florida.
First BanCorp. (NYSE: FBP) announced a quarterly cash dividend of $0.10 per share on its outstanding common stock. The dividend will be payable on March 11, 2022 to shareholders of record as of the close of business on February 25, 2022. This declaration reflects the Corporation's ongoing commitment to return value to its shareholders.
First BanCorp. reported a net income of $73.6 million, or $0.35 per diluted share, for Q4 2021, down from $75.7 million in Q3 2021. Annual net income reached $281.0 million, or $1.31 per diluted share, compared to $102.3 million in 2020. Adjusted pre-tax, pre-provision income rose 30.6% year-over-year to $391.5 million. Notably, non-performing assets decreased 46.1% year-over-year to $158.1 million. The bank repurchased 4.6 million shares in Q4 and aims for continued growth amid a positive economic backdrop.
First BanCorp (NYSE: FBP) announced it will report its fourth quarter financial results for 2021 on January 26, 2022, prior to market opening. A conference call for analysts and investors is scheduled for the same day at 10:00 a.m. Eastern time. The call will be accessible via the company's investor relations website or a dedicated phone line. A replay of the webcast will be available on the website until January 26, 2023. First BanCorp operates FirstBank Puerto Rico, with services in Puerto Rico, the U.S., and the British Virgin Islands.
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