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First BanCorp (FBP) investor relations material
First BanCorp Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary22 Jul, 2025
Executive summary
Net income for Q2 2025 was $80.2 million ($0.50 per diluted share), up from $77.1 million in Q1 2025, with a return on assets of 1.69% and a top-quartile efficiency ratio of 49.97%–50%.
Total loans grew 6% annualized to $12.9 billion, led by strong commercial loan production in Puerto Rico and Florida.
Asset quality remained stable to improving, with non-performing assets at 0.68% of total assets and net charge-offs declining to 0.60%.
Core deposits declined by $240.9 million due to non-recurring outflows from large commercial accounts, while retail deposits remained stable.
Capital deployment included $29 million in dividends, $28.2 million in share repurchases, and redemption of $11.1 million in junior subordinated debentures.
Financial highlights
Net interest income reached a record $215.9 million, up $3.5 million sequentially and $16.3 million year-over-year; net interest margin rose to 4.56%.
Non-interest income fell to $30.9 million, mainly due to lower insurance income and tax credit gains.
Non-interest expenses were $123.3 million, up slightly, with higher card processing costs offset by lower payroll and OREO gains.
Provision for credit losses was $20.6 million, down from the prior quarter, reflecting lower net charge-offs and improved macroeconomic forecasts.
Tangible book value per share increased 4.9% to $11.16; CET1 ratio strong at 16.6%.
Outlook and guidance
Management expects continued growth in commercial, construction, and residential mortgage portfolios, supported by positive macroeconomic trends.
Net interest margin projected to increase 5–7 basis points per quarter in the near term.
Operating expenses expected to trend toward 1.25%–1.26% of assets, with efficiency ratio between 50%–52%.
Deposit base expected to stabilize in the second half, with $1.3 billion in investment portfolio cash flows to support loan growth.
Capital deployment to continue through dividends and share repurchases, with $66.6 million remaining authorized.
Assess sustainability of consumer portfolio charge-offs.
Explain drivers behind deposit fluctuations.
Detail investment portfolio cash flow deployment.
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Next First BanCorp earnings date
Q3 202523 Oct, 2025
Next First BanCorp earnings date
Q3 202523 Oct, 2025
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Frequently asked questions
First BanCorp operates as a bank holding company for FirstBank Puerto Rico, delivering a wide array of financial products and services to consumers and commercial customers. It serves through various segments including Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury, and Investments. The company has a broad presence, operating not only in Puerto Rico but extending its services to the United States and the U.S. and British Virgin Islands. The company is headquartered in San Juan, Puerto Rico, and its shares are listed on the NYSE.
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