FIRST BANCORP /PR/ — Form 8-K
Filed July 22, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
First BanCorp reported Q2 2026 net income of $96.1M ($0.62 diluted EPS) vs. $88.8M ($0.57) in Q1 2026 and $80.2M ($0.50) in Q2 2025. Total loans increased $168.8M to $13.3B (driven by $129.9M C&I in Puerto Rico including toll-road infrastructure loan); net interest margin expanded 12 bps to 4.87%; adjusted pre-tax, pre-provision income reached record $137.5M (+4.6% QoQ). Non-performing assets at 0.59% of assets; net charge-offs annualized at 0.49% (down 16 bps). Capital ratios strong: CET1 16.96%. Management returned 84% of earnings via $50M buybacks + $31M dividends.
Why this rating
Strong profitability & capital generation relative to $3.2B market cap, but organic loan growth modest (5.2% annualized). Expansion in NIM and controlled expenses are positive; rising delinquencies (30-89 days up $32.9M) warrant monitoring. Results ordinary for healthy regional bank.
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