First BanCorp.(NYSE) FBP

First BanCorp helps families and business owners manage their money through bank accounts and loans. It provides essential services like mortgages for new homes and financing for vehicles. These products help people in Puerto Rico, Florida, and the Virgin Islands reach their financial goals.

What First BanCorp Offers

• Commercial and Corporate: Business loans and cash management services for large clients and government entities in Puerto Rico.
• Consumer Banking: Personal financial products including auto loans, credit cards, and everyday savings accounts for retail customers.
• Mortgage Banking: Residential loan services including the creation and sale of home mortgages in the secondary market.
• United States Operations: Full-service banking for individuals and businesses through eight branches located in southern Florida.
• Virgin Islands Operations: Deposit-taking and lending activities serving customers across the U.S. and British Virgin Islands.

Recent Strategic Moves

• Expanded its digital presence to include internet banking, remote deposit capture, and automated clearing house (ACH) transaction services.
• Organized a new limited liability corporation in 2022 under Act 60 of 2019 to engage in qualified investing and lending.
• Recharacterized certain non-maturity deposits as non-brokered following a 2021 change in FDIC deposit regulations.

What Makes the Bank Different

The company operates a diverse network of 83 branches across three distinct geographic regions. It maintains a strong presence in Puerto Rico while utilizing specialized tax-exempt entities and international banking divisions to manage its effective tax rate.

Key Financial Facts

• Net income rose to $88.8 million in Q1 2026, up 15.2% from $77.1 million in Q1 2025.
• Total revenue reached $318.5 million in Q1 2026, a 3.1% increase year-over-year.
• Operating income grew to $114.3 million in Q1 2026, up 13.9% from the previous year.
• The company reported a common equity Tier 1 capital ratio of 16.76% as of December 31, 2025.

Bottom Line

First BanCorp has transitioned from a local Puerto Rican institution into a regional financial holding company with operations across the Caribbean and Florida. Its expansion into diverse lending segments and digital services supports its role as a multi-region provider of commercial and retail banking.