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AI brief of an SEC Form 8-K · First BanCorp (Puerto Rico) (FBP)

First BanCorp. Q3 2024 net income falls to $73.7 million, or $0.45 per diluted share

Mixed Impact 3 of 5 earnings Written later

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.

Key points

  • 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

The filing

CompanyFirst BanCorp (Puerto Rico) (FBP)
Form8-K, current report
Filed with the SECOct 23, 2024, 9:30 AM ET
Accession number0001140361-24-043990

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 23, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.