First Bancorp /PR (FBP)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$1.0B

Revenue growth

6.0%

Net income, last twelve months

$372.6M

Earnings per share

$2.37

Net margin

36.2%

Free cash flow

$441.0M

Return on equity

18.8%

Market value

$4.1B

Price to earnings

11.3x

Dividend yield

2.8%

Cash

$561.3M

Debt

$200.0M

Debt to equity

0.10

Shares outstanding

152.7M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

Revenue by segment

As the company reports it in the segment note of its annual report.

By business, FY2025

Company events

The newest 8-K filings of 345 held.

Every filing

The newest filings with the SEC of 782 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

345 funds held it at 30 Jun 2026: 140 added and 99 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Bank of Nova Scotia (BNS): revenue $27.0B, market value $116.9B
• Bank of New York Mellon Corp. (BNY): revenue $21.4B, market value $100.9B
• Itaú Unibanco Holding S.A. (ITUB): revenue $30.1B, market value $81.6B
• Fifth Third Bancorp (FITB): revenue $10.7B, market value $48.5B
• State Street Corp. (STT): revenue $15.5B, market value $47.4B
• M&T Bank Corp. (MTB): revenue $10.0B, market value $31.8B
• Northern Trust Corp. (NTRS): revenue $9.1B, market value $31.4B
• Banco Bradesco S.A. (BBD): revenue –, market value $28.9B
• Citizens Financial Group Inc. (CFG): revenue $8.9B, market value $27.5B
• First Citizens Bancshares Inc. (FCNCA): revenue $9.6B, market value $26.9B

What the company does

First BanCorp is a financial holding company incorporated under the laws of the Commonwealth of Puerto Rico in 1948 to serve as the bank holding company for FirstBank. Its main office is in San Juan, Puerto Rico. Through its subsidiaries it provides commercial and consumer banking, mortgage banking, automobile financing, insurance agency services and other financial products in Puerto Rico, the U.S., the USVI and the BVI. FirstBank operates 57 banking branches in Puerto Rico, eight in the USVI and the BVI, and eight in the state of Florida. The Corporation and its subsidiaries had 3,218 regular employees as of 31 December 2025.

How the business is organised

The Corporation has two wholly-owned subsidiaries. FirstBank is a Puerto Rico-chartered commercial bank, and FirstBank Insurance Agency, Inc. is a Puerto Rico-chartered insurance agency. FirstBank in turn has six wholly-owned subsidiaries with operations in Puerto Rico. One is First Federal Finance Corp. (doing business as Money Express La Financiera), a finance company that originates small loans through 25 offices in Puerto Rico. Another is FirstBank Overseas Corporation, an international banking entity.

The Corporation reports six segments: Mortgage Banking; Consumer (Retail) Banking; Commercial and Corporate Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations.

What it sells

Mortgage Banking originates, sells and services residential mortgage loans in the Puerto Rico region. These include loans that meet FHA, VA and RD standards, as well as conventional conforming and non-conforming loans. Conforming loans are sold to investors such as FNMA and FHLMC, and the Corporation has commitment authority to issue GNMA mortgage-backed securities.

Consumer (Retail) Banking covers consumer lending, commercial lending to small businesses, commercial transaction banking and deposit-taking. It works through the branch network, ATMs and online banking in the Puerto Rico region, and it also includes insurance activities there.

Commercial and Corporate Banking serves specialized and middle-market clients and the government sector in the Puerto Rico region. A substantial portion of its portfolio is secured by real estate collateral and personal guarantees from the borrowers.

The Corporation also lists credit cards, personal loans, small loans, and auto loans and leases among its activities.

Where it operates

The United States Operations segment covers all banking activity on the U.S. mainland, primarily in southern Florida through eight branches. It offers checking, savings and money market accounts, retail CDs, residential mortgages, home equity loans and lines of credit. For businesses it offers cash management, remote deposit capture, ACH transactions, and commercial and industrial, commercial real estate and construction loans.

The Virgin Islands Operations segment runs through eight branches on St. Thomas, St. Croix and St. John in the USVI and on Tortola in the BVI. Its main activities are consumer and commercial lending and deposit-taking.

By region, 2,854 employees work in Puerto Rico, 206 in Florida and 158 in the Virgin Islands.

How it funds its lending

Retail deposits gathered through the branches are a funding source for lending and investment. The Treasury and Investments segment manages the investment portfolio and the treasury function. It supplies funds to the other segments and compensates them for the deposits they gather. It also raises funds through brokered deposits, advances from the FHLB and repurchase agreements involving investment securities.

The Corporation says its results depend primarily on net interest income. That is the difference between interest earned on loans and investment securities and interest paid on deposits and borrowings.

How it competes

The Corporation describes banking in Puerto Rico, its main geographic service area, as highly competitive. Its competitors include other banks, insurance companies, mortgage banking companies, small loan companies, automobile financing companies, leasing companies, brokerage firms with retail operations, credit unions and certain retailers. Financial technology companies and digital platforms are also named as competitors. They compete with the Corporation on the range of products and services offered and on the types of clients, customers and industries served.

How it is regulated

The Federal Reserve Board supervises the Corporation, which has elected to be a financial holding company. FirstBank is supervised by the Office of the Commissioner of Financial Institutions of Puerto Rico (OCIF) and the FDIC, and its deposits are insured through the FDIC Deposit Insurance Fund. The CFPB regulates its consumer financial products and services. Its USVI operations answer to the USVI Division of Banking Insurance, and Financial Regulation, its BVI operations to the BVI Financial Services Commission, and its Florida operations to the Florida Office of Financial Regulation. FirstBank Insurance Agency is supervised by the Insurance Commissioner of Puerto Rico and by the Division of Banking, Insurance and Financial Regulation in the USVI.

As of 31 December 2025, the Corporation's total capital ratio was 18.01%, its CET1 ratio 16.76%, its Tier 1 ratio 16.76% and its leverage ratio 11.58%. The well-capitalized minimums are 10.00%, 6.50%, 8.00% and 5.00%.

Its people

About 66% of employees and 58% of management positions are held by women. Average tenure is 11 years. In 2025 the Corporation delivered more than 114,000 training hours across more than 1,800 courses. Employees also volunteered over 2,800 hours supporting more than 35 organizations. Benefits include health, dental and vision insurance, life and disability plans, and a defined contribution retirement plan to which both employees and the employer contribute.

*From First BanCorp's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1057706/000105770626000007/fbp-20251231.htm)*

From the company's 10-K.