First BanCorp. (FBP)

First BanCorp. Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	974.03	965.47	890.56	747.9	719.15	631.05
Interest Income on Investments	129.68	129.68	132.92	114.71	75.56	61.94
Total Interest Income	1,104	1,095	1,023	862.61	794.71	692.98
Interest Paid on Deposits	245.79	253.11	185.46	46.36	41.48	68.39
Interest Paid on Borrowings	34.57	34.57	40.92	20.96	23.3	24.27
Total Interest Expense	280.36	287.67	226.38	67.32	64.78	92.66
Net Interest Income	823.36	807.48	797.11	795.29	729.93	600.32
Net Interest Income Growth (YoY)	3.86%	1.30%	0.23%	8.96%	21.59%	5.86%
Mortgage Banking Activities	13.02	12.73	10.58	15.19	24.87	22.33
Gain (Loss) on Sale of Assets	0.1	0.1	3.51	0.92	0.03	0.22
Gain (Loss) on Sale of Investments	-0.02	-0.02	0.02	-0.52	-0.1	13.24
Other Non-Interest Income	82.14	80.66	74.95	69.61	60.4	45.95
Total Non-Interest Income	134.04	132.29	127.1	123.03	120.49	106.34
Non-Interest Income Growth (YoY)	4.26%	4.08%	3.31%	2.10%	13.31%	18.21%
Revenues Before Loan Losses	957.4	939.77	924.21	918.32	850.42	706.66
Provision for Loan Losses	72.56	59.92	60.94	27.7	-65.7	170.99
Revenue	884.83	879.85	863.27	890.62	916.12	535.68
Revenue Growth (YoY)	2.45%	1.92%	-3.07%	-2.78%	71.02%	-12.30%
Salaries and Employee Benefits	229.62	226.99	215.06	200.63	194.93	170.18
Occupancy Expenses	71.58	70.33	68.61	69.88	72.45	58.91
Federal Deposit Insurance	7.85	8.72	8.56	6.15	6.54	6.49
Selling, General & Administrative	100.93	102.69	99.13	98.61	108.34	91.89
Other Non-Interest Expense	85.24	84.73	80.9	73.67	79.74	62.68
Total Non-Interest Expense	488.07	485.97	465.12	443.11	459.84	393.75
EBT Excluding Unusual Items	396.76	393.87	398.15	447.52	456.28	141.93
Asset Writedown	-0.04	-0.04	0.01	0.07	0.12	-0.21
Legal Settlements	-	-	3.6	-	-	-
Other Unusual Items	-1.1	-1.1	-4.71	-	-2.7	-5.04
Pretax Income	394.09	391.21	397.44	447.58	427.82	116.32
Income Tax Expense	91.77	92.48	94.57	142.51	146.79	14.05
Net Income	302.33	298.72	302.86	305.07	281.03	102.27
Preferred Dividends & Other Adjustments	-	-	-	-	3.69	2.68
Net Income to Common	302.33	298.72	302.86	305.07	277.34	99.6
Net Income Growth	-1.08%	-1.37%	-0.72%	8.56%	174.78%	-38.90%
Basic Shares Outstanding	163	165	177	191	210	217
Diluted Shares Outstanding	164	165	177	192	211	218
Shares Change (YoY)	-5.50%	-6.72%	-7.70%	-9.15%	-2.93%	0.25%
EPS (Basic)	1.85	1.82	1.72	1.60	1.32	0.46
EPS (Diluted)	1.84	1.81	1.71	1.59	1.31	0.46
EPS Growth	4.49%	5.85%	7.55%	21.37%	185.29%	-39.58%
Dividend Per Share	0.660	0.640	0.560	0.460	0.310	0.200
Dividend Growth	13.79%	14.29%	21.74%	48.39%	55.00%	42.86%
Effective Tax Rate	23.29%	23.64%	23.80%	31.84%	34.31%	12.08%

Updated Apr 24, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q