Every material Form 8-K First BanCorp (Puerto Rico) filed with the SEC in 2025, 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 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
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every First BanCorp (Puerto Rico) filing is on SEC EDGAR ↗. 8-K briefs of other companies →