FIRST BANCORP /PR/'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), FIRST BANCORP /PR/ reported net income of $344.9M (+15.4% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Loans | $979.1M | $965.5M | $890.6M | $747.9M |
| Investment securities | $102.9M | $92.6M | $102.5M | $102.9M |
| Money market investments and interest-bearing cash accounts | $41.1M | $37.1M | $30.4M | $11.8M |
| Total interest and dividend income | $1.1B | $1.1B | $1.0B | $862.6M |
| Deposits | $237.7M | $253.1M | $185.5M | $46.4M |
| Short-term borrowings | $86.0K | $18.0K | — | — |
| Long-term borrowings | $16.4M | $34.5M | — | — |
| Total interest expense | $254.2M | $287.7M | $226.4M | $67.3M |
| Net interest income | $868.9M | $807.5M | $797.1M | $795.3M |
| Provision for credit losses - (benefit) expense | $85.9M | $62.9M | $66.6M | $25.7M |
| Unfunded loan commitments | ($130.0K) | ($1.5M) | $365.0K | — |
| Debt securities | $185.0K | ($1.4M) | ($6.1M) | $2.7M |
| Provision for credit losses - expense | $86.0M | $59.9M | $60.9M | $27.7M |
| Net interest income after provision for credit losses | $783.0M | $747.6M | $736.2M | $767.6M |
| Service charges and fees on deposit accounts | $39.1M | $38.8M | $38.0M | $37.8M |
| Mortgage banking activities | $14.1M | $12.7M | $10.6M | $15.3M |
| Gain on early extinguishment of debt | $0 | $0 | $1.6M | $0 |
| Insurance commission income | $13.2M | $13.6M | $12.8M | $13.7M |
| Card and processing income | $47.4M | $46.8M | $43.9M | $40.4M |
| Other non-interest income | $18.1M | $18.9M | $25.8M | $15.8M |
| Total non-interest income | $131.9M | $130.7M | $132.7M | $123.1M |
| Employees' compensation and benefits | $245.2M | $235.7M | $222.9M | $206.0M |
| Occupancy and equipment | $88.9M | $88.4M | $85.9M | $88.3M |
| Business promotion | $16.6M | $17.6M | $19.6M | $18.2M |
| Professional service fees | $48.1M | $49.5M | $45.8M | $47.8M |
| Taxes, other than income taxes | $24.0M | $22.2M | $21.2M | $20.3M |
| Federal Deposit Insurance Corporation (FDIC) deposit insurance | $7.7M | $9.8M | $14.9M | $6.1M |
| Net gain on OREO operations | ($1.5M) | ($7.5M) | ($7.1M) | ($5.8M) |
| Credit and debit card processing expenses | $28.5M | $27.6M | $26.0M | $22.7M |
| Communication and Technology Expense | $9.0M | $8.8M | $8.6M | $8.7M |
| Other non-interest expenses | $31.8M | $34.9M | $33.7M | $30.7M |
| Total non-interest expenses | $498.1M | $487.1M | $471.4M | $443.1M |
| Income before income taxes | $416.7M | $391.2M | $397.4M | $447.6M |
| Income tax expense | $71.9M | $92.5M | $94.6M | $142.5M |
| Net income | $344.9M | $298.7M | $302.9M | $305.1M |
| Net income attributable to common stockholders | $344.9M | $298.7M | $302.9M | $305.1M |
| Basic | $2.16 | $1.82 | $1.72 | $1.60 |
| Diluted | $2.15 | $1.81 | $1.71 | $1.59 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Loans | $244.9M | $241.5M | $247.2M | $242.6M |
| Investment securities | $37.8M | $32.7M | $25.8M | $23.7M |
| Money market investments and interest-bearing cash accounts | $5.0M | $5.6M | $9.7M | $11.9M |
| Total interest and dividend income | $287.7M | $279.8M | $282.7M | $278.2M |
| Deposits | $56.2M | $55.9M | $61.3M | $58.6M |
| Short-term borrowings | $254.0K | $58.0K | $10.0K | $0 |
| Long-term borrowings | $2.1M | $2.9M | $3.5M | $3.7M |
| Total interest expense | $58.6M | $58.9M | $64.8M | $62.3M |
| Net interest income | $229.1M | $221.0M | $217.9M | $215.9M |
| Provision for credit losses - (benefit) expense | $16.0M | $17.2M | $18.3M | $20.4M |
| Unfunded loan commitments | $1.5M | $107.0K | ($756.0K) | $287.0K |
| Debt securities | ($104.0K) | ($4.0K) | $79.0K | ($81.0K) |
| Provision for credit losses - expense | $17.3M | $17.3M | $17.6M | $20.6M |
| Net interest income after provision for credit losses | $211.8M | $203.7M | $200.3M | $195.3M |
| Service charges and fees on deposit accounts | $9.9M | $9.9M | $9.8M | $9.8M |
| Mortgage banking activities | $3.7M | $4.0M | $3.3M | $3.4M |
| Insurance commission income | $3.1M | $5.9M | $2.6M | $2.5M |
| Card and processing income | $12.5M | $11.8M | $11.7M | $11.9M |
| Other non-interest income | $6.5M | $6.0M | $3.4M | $3.4M |
| Total non-interest income | $35.7M | $37.7M | $30.8M | $30.9M |
| Employees' compensation and benefits | $63.4M | $65.3M | $59.8M | $60.1M |
| Occupancy and equipment | $22.1M | $22.1M | $22.2M | $22.3M |
| Business promotion | $4.4M | $3.6M | $3.9M | $3.5M |
| Professional service fees | $13.1M | $12.9M | $11.9M | $11.6M |
| Taxes, other than income taxes | $6.1M | $6.2M | $6.1M | $5.7M |
| FDIC deposit insurance | $2.2M | $2.1M | $2.2M | $2.2M |
| Net gain on OREO operations | ($842.0K) | ($937.0K) | $1.0M | ($591.0K) |
| Credit and debit card processing expenses | $8.5M | $7.3M | $7.9M | $7.7M |
| Communication and Technology Expense | $2.2M | $2.3M | $2.3M | $2.2M |
| Other non-interest expenses | $6.1M | $6.4M | $7.6M | $8.6M |
| Total non-interest expenses | $127.3M | $127.1M | $124.9M | $123.3M |
| Income before income taxes | $120.2M | $114.3M | $106.2M | $102.9M |
| Income tax expense | $24.1M | $25.5M | $5.7M | $22.7M |
| Net income | $96.2M | $88.8M | $100.5M | $80.2M |
| Net income attributable to common stockholders | $96.2M | $88.8M | $100.5M | $80.2M |
| Basic | $0.63 | $0.57 | $0.63 | $0.50 |
| Diluted | $0.62 | $0.57 | $0.63 | $0.50 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and due from banks | $657.1M | $1.2B | $661.9M | $478.5M |
| Time deposits with other financial institutions | $750.0K | $500.0K | $300.0K | — |
| Other short-term investments | $700.0K | $700.0K | $939.0K | $1.7M |
| Total money market investments | $1.4M | $1.2M | $1.2M | $2.0M |
| Available-for-sale debt securities, at fair value (amortized cost of $4,901,982 as of December 31, 2025 and $5,125,408 as of December 31, 2024; ACL of $763 as of December 31, 2025 and $521 as of December 31, 2024) | $4.6B | $4.6B | $5.2B | $5.6B |
| Held-to-maturity debt securities, at amortized cost, net of ACL of $733 as of December 31, 2025 and $802 as of December 31, 2024 (fair value of $262,055 as of December 31, 2025 and $308,040 as of December 31, 2024) | $264.6M | $317.0M | $352.0M | — |
| Equity securities | $44.8M | $52.0M | $49.7M | $55.3M |
| Total investment securities | $4.9B | $4.9B | $5.6B | $6.1B |
| Loans held for investment, net of ACL of $249,037 as of December 31, 2025 and $243,942 as of December 31, 2024 | $12.9B | $12.5B | $11.9B | — |
| Mortgage loans held for sale, at lower of cost or market | $16.7M | $15.3M | $7.4M | $12.3M |
| Total loans, net | $12.9B | $12.5B | $11.9B | $11.3B |
| Accrued interest receivable on loans and investments | $71.4M | $71.9M | $77.7M | $69.7M |
| Premises and equipment, net | $126.9M | $133.4M | $142.0M | $142.9M |
| Other real estate owned (OREO) | $7.5M | $17.3M | $32.7M | $31.6M |
| Deferred tax asset, net | $149.0M | $136.4M | $150.1M | $155.6M |
| Goodwill | $38.6M | $38.6M | $38.6M | $38.6M |
| Other intangible assets | $3.5M | $7.0M | $13.4M | $21.1M |
| Other assets | $321.1M | $276.8M | $229.2M | $305.6M |
| Total assets | $19.1B | $19.3B | $18.9B | $18.6B |
| Non-interest-bearing deposits | $5.5B | $5.5B | $5.4B | $6.1B |
| Interest-bearing deposits | $11.1B | $11.3B | $11.2B | $10.0B |
| Total deposits | $16.7B | $16.9B | $16.6B | $16.1B |
| Long-term borrowings | $290.0M | $561.7M | — | — |
| Accounts payable and other liabilities | $205.9M | $190.7M | $194.3M | $231.6M |
| Total liabilities | $17.2B | $17.6B | $17.4B | $17.3B |
| Common stock, $0.10 par value, 2,000,000,000 shares authorized; 223,663,116 shares issued; 156,618,996 shares outstanding as of December 31, 2025 and 163,868,877 shares outstanding as of December 31, 2024 | 22.4M | 22.4M | 22.4M | 22.4M |
| Additional paid-in capital | $963.5M | $965.0M | $965.7M | $970.7M |
| Retained earnings, includes legal surplus reserve of $262,534 as of December 31, 2025 and $230,178 as of December 31, 2024 | $2.3B | $2.0B | $1.8B | $1.6B |
| Treasury stock (at cost), 67,044,120 shares as of December 31, 2025 and 59,794,239 shares as of December 31, 2024 | -932.5M | -790.4M | -697.4M | -507.0M |
| Accumulated other comprehensive loss, net of tax of $7,986 as of December 31, 2025 and $8,221 as of December 31, 2024 | ($354.6M) | ($566.6M) | ($639.2M) | ($804.8M) |
| Total stockholders' equity | $2.0B | $1.7B | $1.5B | $1.3B |
| Total liabilities and stockholders' equity | $19.1B | $19.3B | $18.9B | $18.6B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and due from banks | $559.6M | $549.2M | $897.9M | $735.4M |
| Time deposit with another financial institution | $1.0M | $1.0M | $750.0K | $500.0K |
| Other short-term investments | $700.0K | $700.0K | $943.0K | $826.0K |
| Total money market investments | $1.7M | $1.7M | $1.7M | $1.3M |
| Available-for-sale debt securities, at fair value (amortized cost of $5,043,559 as of June 30, 2026 and $4,901,982 as of December 31, 2025; ACL of $885 as of June 30, 2026 and $763 as of December 31, 2025) | $4.7B | $4.7B | $4.6B | $4.5B |
| Held-to-maturity debt securities, at amortized cost, net of ACL of $479 as of June 30, 2026 and $733 as of December 31, 2025 (fair value of $228,667 as of June 30, 2026 and $262,055 as of December 31, 2025) | $233.6M | $256.9M | $272.7M | $306.5M |
| Equity securities | $43.6M | $46.4M | $44.4M | $45.2M |
| Total investment securities | $5.0B | $5.0B | $4.9B | $4.8B |
| Loans held for investment, net of ACL of $245,039 as of June 30, 2026 and $249,037 as of December 31, 2025 | $13.0B | $12.8B | $12.8B | $12.6B |
| Mortgage loans held for sale, at lower of cost or fair value | $15.5M | $12.8M | $12.5M | $9.9M |
| Total loans, net | $13.0B | $12.9B | $12.8B | $12.6B |
| Accrued interest receivable on loans and investments | $70.7M | $67.7M | $66.1M | $71.5M |
| Premises and equipment, net | $128.7M | $127.9M | $127.0M | $128.4M |
| Other real estate owned (OREO) | $6.9M | $6.3M | $9.3M | $14.4M |
| Deferred tax asset, net | $142.0M | $143.6M | $146.9M | $134.8M |
| Goodwill | $38.6M | $38.6M | $38.6M | $38.6M |
| Other intangible assets | $3.0M | $3.2M | $3.7M | $4.5M |
| Other assets | $303.5M | $317.0M | $300.5M | $288.7M |
| Total assets | $19.2B | $19.1B | $19.3B | $18.9B |
| Non-interest-bearing deposits | $5.5B | $5.6B | $5.4B | $5.3B |
| Interest-bearing deposits | $11.3B | $11.0B | $11.5B | $11.2B |
| Total deposits | $16.9B | $16.6B | $16.9B | $16.6B |
| Long-term borrowings | $200.0M | $200.0M | $290.0M | $320.0M |
| Accounts payable and other liabilities | $194.9M | $233.0M | $252.2M | $178.0M |
| Total liabilities | $17.3B | $17.1B | $17.4B | $17.1B |
| Common stock, $0.10 par value, 2,000,000,000 shares authorized; 223,663,116 shares issued; 152,674,406 shares outstanding as of June 30, 2026 and 156,618,996 shares outstanding as of December 31, 2025 | 22.4M | 22.4M | 22.4M | 22.4M |
| Additional paid-in capital | $955.5M | $952.8M | $961.4M | $959.6M |
| Retained earnings, includes legal surplus reserve of $262,534 as of each of June 30, 2026 and December 31, 2025 | $2.4B | $2.3B | $2.2B | $2.1B |
| Treasury stock (at cost), 70,988,710 shares as of June 30, 2026 and 67,044,120 shares as of December 31, 2025 | -1.0B | -972.4M | -882.5M | -832.7M |
| Accumulated other comprehensive loss, net of tax of $7,986 as of each of June 30, 2026 and December 31, 2025 | ($368.4M) | ($360.7M) | ($392.5M) | ($441.3M) |
| Total stockholders' equity | $2.0B | $2.0B | $1.9B | $1.8B |
| Total liabilities and stockholders' equity | $19.2B | $19.1B | $19.3B | $18.9B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $344.9M | $298.7M | $302.9M | $305.1M |
| Depreciation and amortization | $17.2M | $18.6M | $20.5M | $22.3M |
| Amortization of intangible assets | $3.5M | $6.4M | $7.7M | $8.8M |
| Provision for credit losses | $86.0M | $59.9M | $60.9M | $27.7M |
| Deferred income tax expense | ($12.4M) | $14.1M | $6.1M | $54.2M |
| Stock-based compensation | $10.1M | $8.7M | $7.8M | $5.4M |
| Gain on early extinguishment of debt | $0 | $0 | ($1.6M) | $0 |
| Unrealized gain on derivative instruments | ($829.0K) | ($537.0K) | ($301.0K) | ($1.1M) |
| Net gain on disposals or sales, and impairments of premises and equipment and other assets | ($16.0K) | ($103.0K) | ($3.5M) | ($706.0K) |
| Net gain on sales of loans and loans held-for-sale valuation adjustments | ($5.0M) | ($3.4M) | ($1.6M) | ($5.5M) |
| Net amortization of discounts, premiums, and deferred loan fees and costs | ($668.0K) | $344.0K | $1.2M | ($7.9M) |
| Originations and purchases of loans held for sale | ($170.6M) | ($165.3M) | ($147.5M) | ($215.0M) |
| Sales and repayments of loans held for sale | $174.1M | $160.6M | $149.9M | $235.2M |
| Amortization of broker placement fees | $711.0K | $757.0K | $309.0K | $106.0K |
| Net amortization of premiums and discounts on investment securities | ($3.2M) | $5.1M | $5.0M | $3.4M |
| Decrease (increase) in accrued interest receivable | ($11.1M) | $5.6M | ($5.4M) | ($11.3M) |
| Increase in accrued interest payable | $2.7M | $5.4M | $18.4M | $1.7M |
| Increase in other assets | $11.0M | ($10.5M) | ($16.6M) | ($2.4M) |
| (Decrease) increase in other liabilities | $2.2M | ($176.0K) | ($41.3M) | $20.4M |
| Net cash provided by operating activities | $448.6M | $404.1M | $363.0M | $440.5M |
| Net disbursements on loans held for investment | ($505.0M) | ($705.4M) | ($758.2M) | ($603.9M) |
| Proceeds from sales of loans held for investment | $3.7M | $18.4M | $7.7M | $62.2M |
| Proceeds from sales of repossessed assets | $55.4M | $64.3M | $53.9M | $46.3M |
| Purchases of available-for-sale debt securities | ($1.9B) | ($266.2M) | ($5.5M) | ($512.3M) |
| Proceeds from principal repayments and maturities of available-for-sale debt securities | $2.2B | $997.1M | $549.6M | $626.8M |
| Proceeds from principal repayments of held-to-maturity debt securities | $53.7M | $38.4M | $86.0M | $32.2M |
| Additions to premises and equipment | ($11.0M) | ($10.0M) | ($22.6M) | ($20.5M) |
| Proceeds from sales of premises and equipment and other assets | $25.0K | $1.4M | $4.5M | $1.2M |
| Net (purchases) redemptions of equity securities | $7.4M | ($2.4M) | — | — |
| Proceeds from the settlement of insurance claims - investing activities | $0 | $670.0K | $483.0K | $0 |
| Net cash provided (used) by investing activities | ($170.4M) | $136.2M | ($78.5M) | ($681.5M) |
| Net increase (decrease) in deposits | ($239.9M) | $260.8M | $471.0M | ($1.7B) |
| Net repayments of short-term borrowings | $0 | $0 | ($550.1M) | $550.1M |
| Repayments of long-term borrowings | ($269.9M) | ($97.0M) | ($19.8M) | ($500.0M) |
| Proceeds from long-term borrowings | $0 | $0 | $300.0M | $200.0M |
| Repurchase of outstanding common stock | ($153.7M) | ($102.4M) | ($203.2M) | ($277.8M) |
| Dividends paid on common stock | ($115.5M) | ($105.6M) | ($99.7M) | ($87.8M) |
| Net cash used in financing activities | ($779.0M) | ($44.1M) | ($101.9M) | ($1.8B) |
| Net increase (decrease) in cash and cash equivalents | ($500.8M) | $496.3M | $182.7M | ($2.1B) |
| Cash and cash equivalents at beginning of year | $1.2B | $663.2M | $480.5M | $2.5B |
| Cash and cash equivalents at end of year | $658.6M | $1.2B | — | $480.5M |
| Cash and due from banks | $657.1M | $1.2B | $661.9M | $478.5M |
| Money market investments | $1.4M | $1.2M | $1.2M | $2.0M |
| Cash and Cash Equivalents, at Carrying Value, Total | $658.6M | $1.2B | $663.2M | $480.5M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $184.9M | $88.8M | $257.8M | $157.2M |
| Depreciation and amortization | $8.3M | $4.1M | $13.1M | $8.8M |
| Amortization of intangible assets | $436.0K | $218.0K | $3.3M | $2.4M |
| Provision for credit losses | $34.6M | $17.3M | $63.0M | $45.4M |
| Deferred income tax expense | $7.0M | $5.4M | ($10.6M) | $1.6M |
| Stock-based compensation | $6.4M | $3.9M | $8.0M | $5.9M |
| Unrealized gain on derivative instruments | ($389.0K) | ($272.0K) | ($472.0K) | ($240.0K) |
| Net gain on disposals or sales, and impairments of premises and equipment and other assets | ($657.0K) | — | $0 | $0 |
| Net gain on sales of loans and loans held for sale valuation adjustments | ($3.3M) | ($1.8M) | ($3.3M) | ($2.2M) |
| Net accretion of discounts, premiums, and deferred loan fees and costs | ($1.5M) | $127.0K | ($766.0K) | ($353.0K) |
| Originations and purchases of loans held for sale | ($81.3M) | ($36.7M) | ($124.2M) | ($85.8M) |
| Sales and repayments of loans held for sale | $86.3M | $43.0M | $130.1M | $93.5M |
| Amortization of broker placement fees | $372.0K | $191.0K | $509.0K | $329.0K |
| Net (accretion) amortization of premiums and discounts on investment securities | ($10.3M) | ($4.2M) | $145.0K | $1.6M |
| Increase in accrued interest receivable | ($4.2M) | $968.0K | ($2.8M) | ($2.6M) |
| Decrease in accrued interest payable | ($1.9M) | ($1.6M) | $1.4M | ($3.1M) |
| Increase in other assets | ($4.6M) | $12.5M | $8.9M | ($11.7M) |
| Decrease in other liabilities | ($6.9M) | ($10.8M) | ($2.9M) | ($7.2M) |
| Net cash provided by operating activities | $213.3M | $121.1M | $341.3M | $203.7M |
| Net disbursements on loans held for investment | ($189.8M) | $620.0K | ($398.5M) | ($194.2M) |
| Proceeds from sales of loans held for investment | $0 | $0 | $2.5M | $2.5M |
| Proceeds from sales of repossessed assets | $25.3M | $13.2M | $41.1M | $27.4M |
| Purchases of available-for-sale debt securities | ($1.6B) | ($767.7M) | ($922.4M) | ($404.3M) |
| Proceeds from principal repayments and maturities of available-for-sale debt securities | $1.4B | $690.5M | $1.1B | $580.4M |
| Proceeds from principal repayments of held-to-maturity debt securities | $33.5M | $8.0M | $45.4M | $10.8M |
| Additions to premises and equipment | ($10.2M) | ($5.2M) | ($7.0M) | ($4.1M) |
| Proceeds from sales of premises and equipment and other assets | $823.0K | — | $0 | $0 |
| Net redemptions of equity securities | $1.2M | ($1.7M) | $7.8M | — |
| Net cash (used in) provided by investing activities | ($272.8M) | ($62.2M) | ($96.5M) | $25.3M |
| Net increase (decrease) in deposits | $220.2M | ($79.9M) | ($43.6M) | ($299.3M) |
| Repayments of long-term borrowings | ($90.0M) | ($90.0M) | ($269.9M) | ($239.8M) |
| Repurchase of outstanding common stock | ($104.9M) | ($54.6M) | ($103.7M) | ($53.5M) |
| Dividends paid on common stock | ($63.1M) | ($32.1M) | ($87.5M) | ($59.0M) |
| Net cash used in financing activities | ($37.8M) | ($166.6M) | ($504.6M) | ($651.7M) |
| Net decrease in cash and cash equivalents | ($97.3M) | ($107.7M) | ($259.8M) | ($422.7M) |
| Cash and cash equivalents at beginning of year | $658.6M | $658.6M | $1.2B | $1.2B |
| Cash and cash equivalents at end of period | $561.3M | — | $899.6M | $736.7M |
| Cash and due from banks | $559.6M | $549.2M | $897.9M | $735.4M |
| Money market investments | $1.7M | $1.7M | $1.7M | $1.3M |
| Cash and Cash Equivalents, at Carrying Value, Total | $561.3M | $550.9M | $899.6M | $736.7M |
FIRST BANCORP /PR/ score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.