Every material Form 8-K First BanCorp (Puerto Rico) has filed with the SEC since April 23, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
First BanCorp reported third-quarter 2026 net income of $96.1 million, or $0.63 per diluted share, roughly flat with the second quarter's $96.1 million and down from $100.5 million a year earlier. The board also approved a new $350 million stock repurchase program and a 25% increase in the common stock dividend.
Q3 2026 net income $96.1 million, $0.63 per diluted share, vs. $0.62 in Q2 2026 and $0.63 in Q3 2025
Net interest margin fell to 4.73% from 4.87% in Q2, mainly due to $3.4 million of one-time interest income recognized in Q2
Non-performing assets rose $0.2 million to $114.1 million; net charge-offs were 0.55% of average loans, up from 0.49%
Board approved a new $350 million stock repurchase program and a 25% dividend increase
First BanCorp. reported net income of $96.1 million, or $0.62 per diluted share, for the quarter ended June 30, 2026, up from $88.8 million, or $0.57 per share, in the first quarter and $80.2 million, or $0.50 per share, a year earlier. Non-performing assets rose $5.1 million to $113.9 million, driven by one $14.8 million commercial loan moving to nonaccrual status in Florida, while net charge-offs fell to 0.49% of average loans from 0.65%.
Net income $96.1 million and diluted EPS $0.62 for Q2 2026, versus $88.8 million and $0.57 in Q1 2026 and $80.2 million and $0.50 in Q2 2025
Net interest margin rose to 4.87% from 4.75% in Q1 2026, helped partly by $3.4 million of accelerated purchase discount and deferred fee income
Non-performing assets increased to $113.9 million at June 30, 2026, including a $14.8 million C&I relationship in Florida placed on nonaccrual
During the quarter the company repurchased $50.0 million of common stock and declared $31.0 million in common stock dividends, and reported a CET1 ratio of 16.96%
At its May 6, 2026 annual meeting, First BanCorp stockholders approved a new 2026 Omnibus Incentive Plan with 5,000,000 shares available for awards, re-elected the director slate, and ratified Crowe LLP as auditor for 2026. Each director nominee was elected to a one-year term, and no new awards will be made under the prior 2016 plan.
Stockholders approved the 2026 Omnibus Incentive Plan, with 126,365,168 votes for and 9,200,055 against
Plan reserves 5,000,000 shares, plus forfeited shares from awards under the 2016 plan
Roberto R. Herencia received 99,373,785 votes for and 36,134,938 against, the lowest support among the nine nominees
Stockholders ratified Crowe LLP as independent registered public accounting firm for fiscal 2026
First BanCorp. reported first-quarter 2026 net income of $88.8 million, or $0.57 per diluted share, up from $77.1 million, or $0.47 per share, a year earlier and from $87.1 million, or $0.55 per share, in the fourth quarter of 2025. Results were supported by a lower provision for credit losses and higher non-interest income, while net interest income edged down.
Net income of $88.8 million, or $0.57 per diluted share, for the quarter ended March 31, 2026, versus $77.1 million, or $0.47 per share, in Q1 2025
Net interest margin rose to 4.75% from 4.68% in the fourth quarter of 2025; net interest income fell to $221.0 million from $222.8 million
Provision for credit losses fell to $17.3 million from $23.0 million; non-performing assets decreased $5.3 million to $108.8 million
First BanCorp. said CFO Orlando Berges will retire effective June 30, 2026, and its board appointed Said Ortiz, currently Senior Vice President and Chief Accounting Officer, as Executive Vice President and CFO effective July 1, 2026. The change in the company's top finance role matters to shareholders because it affects who leads financial reporting and capital planning, and the company says the two executives will work together over the coming months to ensure a seamless transition.
Orlando Berges, CFO since 2009, announced his retirement on February 4, 2026, effective June 30, 2026
Said Ortiz, age 40, has been Senior Vice President and Chief Accounting Officer since October 2021 and becomes CFO effective July 1, 2026
Berges is expected to enter a temporary consulting agreement; terms of that agreement and of Ortiz's compensation were not available in the filing
First BanCorp reported fourth-quarter 2025 net income of $87.1 million, or $0.55 per diluted share, up from $75.7 million a year earlier but down from $100.5 million in the third quarter. Full-year 2025 net income was $344.9 million, or $2.15 per diluted share, compared with $298.7 million, or $1.81, in 2024. The sequential decline reflects a one-time $16.6 million tax valuation allowance reversal recorded in the third quarter.
Q4 2025 net income $87.1 million, or $0.55 per diluted share, versus $75.7 million, or $0.46, in Q4 2024
Q3 2025 net income of $100.5 million included a one-time reversal of about $16.6 million in valuation allowance, worth $0.10 per diluted share
Net interest income rose to $222.8 million from $217.9 million in Q3 2025; net interest margin was 4.68%
Full-year 2025 net income was $344.9 million, or $2.15 per diluted share, versus $298.7 million, or $1.81, in 2024
First BanCorp reported third-quarter 2025 net income of $100.5 million, or $0.63 per diluted share, up from $80.2 million, or $0.50, in the second quarter and $73.7 million, or $0.45, a year earlier. The results include a one-time reversal of about $16.6 million in deferred tax valuation allowance and a $2.3 million employee retention credit benefit, which the company excluded from its adjusted figures; adjusted diluted EPS was $0.51.
Q3 2025 net income was $100.5 million, or $0.63 per diluted share, versus $80.2 million, or $0.50, in Q2 2025 and $73.7 million, or $0.45, in Q3 2024.
Adjusted diluted EPS was $0.51 for Q3 2025, excluding special items including the $16.6 million tax valuation allowance reversal.
Net interest income rose to $217.9 million from $215.9 million, and net interest margin was 4.57% versus 4.56%.
The company repurchased $50.0 million of common stock in the quarter, and its board authorized a new buyback program of up to $200 million.
First BanCorp. reported unaudited second-quarter 2025 net income of $80.2 million, or $0.50 per diluted share, up from $77.1 million, or $0.47, in the first quarter and $75.8 million, or $0.46, a year earlier. Net interest income and net interest margin rose, while non-interest income fell from a seasonally strong first quarter. For shareholders, the filing shows higher per-share earnings and capital returned through $28.2 million in buybacks and $29.0 million in declared dividends.
Net income $80.2 million, or $0.50 per diluted share, versus $77.1 million, or $0.47, in Q1 2025 and $75.8 million, or $0.46, in Q2 2024
Net interest income rose to $215.9 million from $212.4 million; net interest margin rose 4 basis points to 4.56%
Non-interest income fell to $30.9 million from $35.7 million, mainly due to $3.3 million in seasonal insurance commissions recorded in Q1 2025
Repurchased $28.2 million of common stock and declared $29.0 million in common stock dividends in the quarter
First BanCorp announced a strategic reorganization tied to its succession plan. COO Donald Kafka will retire effective September 15, 2025, and Chief Credit Officer Juan Carlos Pavía will become COO effective August 1, 2025, while keeping oversight of credit risk and credit administration.
Donald Kafka, EVP and COO, retires effective September 15, 2025, and remains an officer until then
Juan Carlos Pavía, EVP and Chief Credit Officer, becomes COO effective August 1, 2025
Pavía, age 45, joined the company in 2014 and has over fifteen years of banking industry experience
No changes were made to Pavía's plans or contracts in connection with the promotion
First BanCorp. (NYSE: FBP) reported first-quarter 2025 net income of $77.1 million, or $0.47 per diluted share, up from $75.7 million, or $0.46 per share, in the fourth quarter of 2024 and $73.5 million, or $0.44 per share, a year earlier. Net interest margin widened to 4.52% and the efficiency ratio improved to 49.58%, while the provision for credit losses rose to $24.8 million and non-performing assets increased to $129.4 million.
Net income of $77.1 million, or $0.47 per diluted share, versus $75.7 million, or $0.46 per share, in Q4 2024
Net interest margin rose 19 basis points to 4.52%; non-interest expenses fell to $123.0 million from $124.5 million
Provision for credit losses rose to $24.8 million from $20.9 million, mainly for commercial and construction loans
Non-performing assets increased $11.1 million to $129.4 million, mainly from a $12.6 million Florida hospitality loan
On March 19, 2025, First BanCorp's board approved a 3.5% increase in CEO Aurelio Alemán's annual base salary and higher target incentive opportunities. The changes followed the board's annual executive pay review, with guidance from its outside compensation consultant. Because the filing describes the changes only as compensation adjustments, shareholders can see the new pay levels but not a stated financial effect.
Base salary rises 3.5%, from $1,080,000 to $1,117,800, effective April 1, 2025
Short-term incentive target rises from 115% to 125% of base salary, for fiscal 2025 performance paid in 2026
Long-term incentive target rises from 200% to 215% of base salary, for awards made in 2026
First BanCorp. announced on January 31, 2025 a strategic reorganization aligned with its corporate succession plan, including the retirements of two business group executives and new leadership roles effective April 1, 2025. The filing contains no financial results or guidance; the company says the changes aim to improve operational efficiency and align resources for future growth. Compensation terms for the retirements and promotions were not available as of the filing date.
Cassan Pancham, EVP and Business Group Executive, retires effective May 15, 2025; Carlos Power, EVP and Business Group Executive, retires effective May 2, 2025.
Nayda Rivera, EVP and Chief Risk Officer, becomes EVP and Chief Consumer Officer effective April 1, 2025 and remains Corporate Chief of Staff.
Myrna Rivera is appointed SVP Division Director and Chief Risk Officer, reporting to CFO Orlando Berges and the Board's Risk Committee.
Pancham is expected to enter a temporary consulting agreement; its terms were not available as of the filing date.
First BanCorp. reported fourth-quarter 2024 net income of $75.7 million, or $0.46 per diluted share, up from $73.7 million, or $0.45 per share, in the third quarter but down from $79.5 million, or $0.46 per share, a year earlier. For the full year, net income rose to $298.7 million, or $1.81 per diluted share, from $302.9 million, or $1.71 per share, in 2023 (the full-year net income figure is slightly lower than 2023, so the per-share gain reflects a lower share count). The Board approved a 13% increase in the common stock dividend.
Q4 2024 net income $75.7 million and $0.46 per diluted share, vs. $73.7 million and $0.45 in Q3 2024 and $79.5 million and $0.46 in Q4 2023
Full-year 2024 net income $298.7 million, or $1.81 per diluted share, vs. $1.71 in 2023
Net interest margin rose to 4.33% from 4.25% in Q3 2024
Total loans grew $303.2 million to $12.8 billion; Board approved a 13% increase in the common stock dividend
First BanCorp. reported third-quarter 2024 net income of $73.7 million, or $0.45 per diluted share, down from $75.8 million, or $0.46, in the second quarter and $82.0 million, or $0.46, a year earlier. Net interest income rose to $202.1 million, but a higher provision for credit losses of $15.2 million and non-interest expenses of $122.9 million reduced pre-tax income to $96.4 million, which matters to shareholders because it lowered reported profit per share compared with the prior quarter.
Net income of $73.7 million, or $0.45 per diluted share, versus $75.8 million, or $0.46, in Q2 2024 and $82.0 million, or $0.46, in Q3 2023
Net interest income of $202.1 million, up from $199.6 million; net interest margin rose to 4.25% from 4.22%
Provision for credit losses of $15.2 million, up from $11.6 million; non-interest expenses of $122.9 million, up from $118.7 million
Repurchased $50.0 million of junior subordinated debentures and paid $26.1 million in common stock dividends during the quarter
First BanCorp. reported net income of $75.8 million, or $0.46 per diluted share, for the quarter ended June 30, 2024, up from $73.5 million, or $0.44 per share, in the first quarter of 2024 and $70.7 million, or $0.39 per share, a year earlier. Net interest margin rose to 4.22% and non-performing assets fell $2.7 million to $126.9 million, while annualized net charge-offs rose to 0.69% of average loans from 0.37%. The company repurchased $50.0 million of common stock and paid $26.3 million in dividends during the quarter.
Net income of $75.8 million, or $0.46 per diluted share, versus $73.5 million, or $0.44, in Q1 2024 and $70.7 million, or $0.39, in Q2 2023
Net interest margin increased to 4.22% from 4.16%; net interest income was $199.6 million
Annualized net charge-offs rose to 0.69% of average loans from 0.37%; allowance coverage was 2.06% versus 2.14%
Repurchased $50.0 million of common stock and paid $26.3 million in common stock dividends in the quarter
First BanCorp. reported Q1 2024 net income of $73.5 million, or $0.44 per diluted share, down from $79.5 million, or $0.46, in Q4 2023 but up from $70.7 million, or $0.39, in Q1 2023. Q4 results included a $6.3 million FDIC special assessment, and the company's adjusted Q4 EPS was $0.49, so adjusted EPS fell sequentially. The filing contains no guidance.
Net income $73.5 million, or $0.44 per diluted share, vs. $79.5 million, or $0.46, in Q4 2023 and $70.7 million, or $0.39, in Q1 2023
Net interest income $196.5 million vs. $196.7 million in Q4 2023; net interest margin 4.16% vs. 4.14%
Provision for credit losses $12.2 million vs. $18.8 million, including a $9.5 million recovery tied to a bulk sale of charged-off consumer loans
Income tax expense $23.9 million vs. $5.4 million in Q4 2023; the company repurchased $50.0 million of common stock and paid $26.6 million in dividends in Q1 2024
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