Quarterly ResultOct 22, 2026, 09:36 AM

First BanCorp Q3 Net Income $96.1M; Approves $350M Buyback, 25% Dividend Hike

AI Summary

First BanCorp announced its third quarter 2026 financial results, reporting net income of $96.1 million, or $0.63 per diluted share, which was flat compared to the previous quarter. The company saw loan growth of 3.3% annualized QoQ, reaching $13.4 billion, and an increase in core deposits. Key capital actions included the approval of a new $350 million stock repurchase program and a 25% increase in the common stock dividend. The net interest margin saw a slight decrease QoQ due to higher funding costs, while asset quality remained stable.

Key Highlights

First BanCorp reported Q3 2026 net income of $96.1 million, or $0.63 per diluted share, flat QoQ and down slightly YoY.
Total loans grew 3.3% annualized QoQ to $13.4 billion, driven by commercial and industrial loan growth.
Core deposits increased by $120 million QoQ to $13.4 billion.
The company announced a new $350 million stock repurchase program.
First BanCorp increased its common stock dividend by 25%.
Net interest margin decreased 14 bps QoQ to 4.73%, impacted by higher deposit costs and prior quarter accelerations.
Non-performing assets remained flat at $114.1 million, with an NPA ratio of 0.59%.

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