| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 258.64 | 4.2% |
| Total Income | 258.64 | 4.2% |
| Expenditure | 144.38 | 2.3% |
| PBT | 114.26 | 13.9% |
| Net Profit | 88.78 | 15.2% |
| OPM | — | |
| NPM | 34.33% | 3.27pp |
| EPS | 0.57 | 21.3% |
First BanCorp Reports Q1 2026 Net Income of $88.8 Million
22 Apr 2026 · 22 Apr, 7:01 pm
Summary
First BanCorp announced a net income of $88.8 million, or $0.57 per diluted share, for Q1 2026. This represents an increase compared to both the previous quarter and the same quarter of the prior year. The company's pre-tax, pre-provision income reached a record high, driven by strong revenue and disciplined expense management. The net interest margin also improved, and non-performing assets decreased. The company continues to focus on capital deployment, as evidenced by share repurchases and dividend declarations.
Key Highlights
- 1
First BanCorp reported a net income of $88.8 million, or $0.57 per diluted share, for the first quarter of 2026.
- 2
Earnings per share increased 21% year-over-year, reflecting strong revenue generation and disciplined expense management.
- 3
Pre-tax, pre-provision income reached an all-time high of $131 million, up 2% from the prior quarter and 5% from a year ago.
- 4
Core customer deposits increased, reinforcing the strength of the relationship-driven franchise.
- 5
The net interest margin increased to 4.75%, compared to 4.68% in the previous quarter.
- 6
Non-performing assets decreased by $5.3 million to $108.8 million.
- 7
The Corporation repurchased $50.0 million in common stock and declared $31.5 million in common stock dividends.
Management Comments
Aurelio Alemán
We began the year with another quarter of strong operating results, delivering consistent performance across our franchise. Earnings per share increased 21% year-over-year, reflecting strong revenue generation and disciplined expense management, which translated into a return on average assets of 1.89%—our 17th consecutive quarter posting a ROAA above 1.5%.
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