AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net income rose 20% YoY to $96.2M ($0.62 diluted EPS) as net interest margin expanded 31bps to 4.87%, driven by redeploying cash flows into higher-yielding assets and lower deposit costs.
Biggest Revenue Drivers
Consumer (Retail) Banking$171.7M+2% YoY
Includes consumer lending, small business commercial lending, and branch/loan-center deposit-taking activities
Commercial and Corporate Banking$51.2M+16% YoY
Reflects lending to large, specialized and middle-market clients and the government sector
Biggest Revenue Drivers
Total revenue: $264.9M+7% YoY
Consumer (Retail) Banking$171.7M+2% YoY
Includes consumer lending, small business commercial lending, and branch/loan-center deposit-taking activities
Commercial and Corporate Banking$51.2M+16% YoY
Reflects lending to large, specialized and middle-market clients and the government sector
United States Operations$23.7M+11% YoY
Banking activities conducted in the U.S. mainland, mainly Florida, including C&I loan participation purchases
Mortgage Banking$21.7M+3% YoY
Origination, sale, and servicing of residential mortgage loans
Treasury and Investments-$23.0MLoss narrowed from -$27.1M YoY
Segment centrally manages funding via fund-transfer-pricing; mismatch between funds provided and used is absorbed here
Largest Expense Items
Employees' compensation and benefits$63.4M+6% YoY
Annual salary merit increases and filling of previously vacant positions
Occupancy and equipment$22.1M-1% YoY
Professional service fees$13.1M+13% YoY
Increase in legal fees and collections, appraisals and other credit-related fees
Credit and debit card processing expenses$8.5M+10% YoY
Higher transactional volumes, partially offset by card expense reimbursements
Margins: Net interest margin increased 31bps YoY to 4.87%, driven by deploying cash flows from lower-yielding investments into higher-yielding assets and lower interest-bearing liability costs, partially offset by downward repricing of variable-rate commercial loans. Efficiency ratio improved to 48.07% from 49.97%.
Watch Items from the Filing
A putative class action filed June 24, 2026 alleges FirstBank and First BanCorp knowingly facilitated Jeffrey Epstein's sex-trafficking venture through banking services; seeks unspecified damages, motion to dismiss pending.
Loan portfolio credit risk concentration remains approximately 77% in Puerto Rico, 19% in the U.S. (mainly Florida), and 4% in USVI/BVI.
Nonaccrual loans rose as a $14.8M Florida C&I relationship migrated to nonaccrual status in Q2 2026, driving an $11.6M increase in commercial/construction nonaccrual loans.
Estimated uninsured deposits (excluding fully collateralized government deposits) totaled $4.7 billion, or 29.15% of total deposits, as of June 30, 2026.
The Corporation repurchased $100.0M of common stock in H1 2026 under its $200M program, with $88.3M remaining authorization expected to be executed by year-end.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Eaves PatriciaReporting ownerGrant or award · Mar 31, 2026
About FIRST BANCORP /PR/ (FBP): stock profile, AI score and financials
FIRST BANCORP /PR/ (FBP) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores FBP at 58.1/100 on a composite quality score built from its SEC filings, placing it at rank #1,041 of 2,925 stocks — the top half of the AI-ranked universe. FBP scores in the top quartile across profitability (95.4), free cash flow (92.6). Areas of concern include institutional flow (27.0), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), FIRST BANCORP /PR/ reports quarterly revenue of $264.9M, net income of $96.2M, an operating margin of 45.4%. FBP trades on the NYSE exchange and files with the SEC under CIK 1057706. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FBP daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FIRST BANCORP /PR/ directly from SEC EDGAR.