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. (FBP) reported a net income of $70.6 million or $0.33 per diluted share in Q2 2021, reflecting a significant increase from $21.3 million or $0.09 per share a year ago. This quarter's results included a $26.2 million net benefit recorded due to improvements in macroeconomic forecasts. The bank repurchased 7.96 million shares during the quarter. Despite strong deposit growth, overall loan portfolio declined, attributed mainly to commercial payoffs. Adjusted net income was $78.2 million, indicating ongoing recovery.
First BanCorp (NYSE: FBP) announced it will release its second quarter financial results for the period ending June 30, 2021, on July 23, 2021, before market opening. A conference call and live webcast discussing these results will take place at 10:00 a.m. Eastern time on the same day. Interested parties can access the webcast via the investor relations section of First BanCorp’s website. Replays of the call will be available for a limited time.
First BanCorp operates FirstBank Puerto Rico and has various subsidiaries across multiple regions.
First BanCorp. (NYSE: FBP) announced the declaration of monthly cash dividends for its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The annual dividend rates range from 7.00% to 8.35%, with monthly dividends per share between $0.14583330 and $0.17395800. The record date for these dividends is July 15, 2021, and payments will be made on August 2, 2021. The total number of outstanding shares varies by series, with the largest being 415,240 for Series E.
First BanCorp. (NYSE: FBP) has announced the declaration of monthly cash dividends on its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The monthly dividends per share are as follows: Series A: $0.14843750, Series B: $0.17395800, Series C: $0.15416670, Series D: $0.15104167, and Series E: $0.14583330. The record date for these dividends is set for June 15, 2021, and payment is scheduled for June 30, 2021. This dividend declaration reflects the corporation's ongoing commitment to shareholder returns.
First BanCorp. (NYSE: FBP) announced dividend declarations for its Series A through E Preferred Stocks. The monthly dividends per share are: Series A at $0.1484 (7.125%), Series B at $0.1740 (8.35%), Series C at $0.1542 (7.40%), Series D at $0.1510 (7.25%), and Series E at $0.1458 (7.00%). Record dates range from May 15 to May 27, 2021, with payments scheduled for June 1, 2021. This decision reflects the Corporation's ongoing commitment to return value to shareholders through consistent dividend payments.
First BanCorp. (NYSE: FBP) has declared a quarterly cash dividend of $0.07 per share on its common stock. This dividend is payable on June 11, 2021, to shareholders of record by May 26, 2021. First BanCorp. serves as the parent corporation of FirstBank Puerto Rico, which operates in Puerto Rico, the U.S. and British Virgin Islands, and Florida, alongside its subsidiaries such as First Federal Finance and First Express. The press release also includes forward-looking statements regarding potential future dividend declarations.
First BanCorp (FBP) reported a net income of $61.2 million ($0.28 per diluted share) for Q1 2021, up from $50.1 million ($0.23 per diluted share) in Q4 2020 and $2.3 million ($0.01 per diluted share) in Q1 2020. The results included a $15.3 million provision benefit related to credit losses. Merger and restructuring costs amounted to $11.3 million during the quarter. Loan origination reached $1.2 billion, with $209 million in new SBA PPP loans. Total deposits rose by $472 million. The firm anticipates increased commercial and construction activity as economic conditions improve.
First BanCorp. (NYSE: FBP) announced a stock repurchase program, allowing up to $300 million to be repurchased through June 30, 2022. The Board's approval reflects the company's robust capital position and commitment to long-term shareholder value. CEO Aurelio Alemán emphasized the bank's focus on efficient operations and profitable growth. The repurchase can occur via open market purchases and private transactions, subject to various factors including market conditions and financial performance. This initiative may also include redemption of $36.1 million of preferred stock.
First BanCorp (NYSE: FBP) announced it will report its first-quarter financial results for the period ending March 31, 2021, on April 26, 2021, before market opening. A conference call and live webcast will follow at 10:00 a.m. Eastern time on the same day, accessible via the Corporation's investor relations webpage. Participants are encouraged to join early to prepare for the session. A replay of the call will be available until May 26, 2021. First BanCorp operates FirstBank Puerto Rico, which provides a range of financial services across various regions including Puerto Rico and the U.S.
First BanCorp. (NYSE: FBP) has announced the declaration of monthly cash dividends on its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends are as follows:
- Series A: 7.125% annual dividend rate; $0.14843750 monthly dividend per share.
- Series B: 8.35% annual dividend rate; $0.17395800 monthly dividend per share.
- Series C: 7.40% annual dividend rate; $0.15416670 monthly dividend per share.
- Series D: 7.25% annual dividend rate; $0.15104167 monthly dividend per share.
- Series E: 7.00% annual dividend rate; $0.14583330 monthly dividend per share.
Record dates range from April 15 to April 28, 2021, with payment dates set for April 30, 2021.
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