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FIRST BANCORP. (Holding Company Only) Financial Information | 12 Months Ended
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Dec. 31, 2017
FIRST BANCORP. (Holding Company Only) Financial Information [Text Block] | NOTE 35- FIRST BANCORP. (HOLDING COMPANY ONLY) FINANCIAL INFORMATION The following condensed financial information presents the financial position of the Holding Company only as of December 31, 201 7 and 201 6, and the results of its operations and cash flows for the years ended December 31, 201 7, 201 6, and 201 5:
Statements of Financial Condition
| As of December 31,
| 2017 |  | 2016
(In thousands) |  |  |  |  |
Assets |  |  |  |  |
Cash and due from banks | $ | 20,864 |  | $ | 29,393
Money market investments |  | 6,111 |  |  | 6,111
Other investment securities |  | 285 |  |  | 285
Loans held for investment, net |  | 191 |  |  | 227
Investment in First Bank Puerto Rico, at equity |  | 2,028,641 |  |  | 1,946,211
Investment in First Bank Insurance Agency, at equity |  | 12,400 |  |  | 10,941
Investment in FBP Statutory Trust I |  | 2,698 |  |  | 2,929
Investment in FBP Statutory Trust II |  | 3,561 |  |  | 3,561
Other assets |  | 3,799 |  |  | 3,791
Total assets | $ | 2,078,550 |  | $ | 2,003,449
Liabilities and Stockholders' Equity |  |  |  |  |
Liabilities: |  |  |  |  |
Other borrowings | $ | 208,635 |  | $ | 216,187
Accounts payable and other liabilities |  | 818 |  |  | 1,019
Total liabilities |  | 209,453 |  |  | 217,206
Stockholders' equity |  | 1,869,097 |  |  | 1,786,243
Total liabilities and stockholders' equity | $ | 2,078,550 |  | $ | 2,003,449
Statements of Income
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
(In thousands) |  |  |  |  |  |  |  |
Income |  |  |  |  |  |  |  |
Interest income on money market investments | $ | 20 |  | $ | 20 |  | $ | 20
Dividend income from banking subsidiaries |  | 7,200 |  |  | 34,876 |  |  | -
Dividend income from non-banking subsidiaries |  | 3,000 |  |  | 7,000 |  |  | -
Other income |  | 262 |  |  | 241 |  |  | 498
|  | 10,482 |  |  | 42,137 |  |  | 518
Expense |  |  |  |  |  |  |  |
Other borrowings |  | 8,284 |  |  | 7,705 |  |  | 7,450
Other operating expenses |  | 3,175 |  |  | 3,481 |  |  | 2,412
|  | 11,459 |  |  | 11,186 |  |  | 9,862
Gain on early extinguishment of debt |  | 1,391 |  |  | 4,217 |  |  | -
Income (loss) before income taxes and equity |  |  |  |  |  |  |  |
in undistributed earnings of subsidiaries |  | 414 |  |  | 35,168 |  |  | (9,344)
Income tax expense |  | (45) |  |  | - |  |  | -
Equity in undistributed earnings of subsidiaries |  | 66,587 |  |  | 58,061 |  |  | 30,641
Net income | $ | 66,956 |  | $ | 93,229 |  | $ | 21,297
Other comprehensive income (loss), net of tax |  | 13,775 |  |  | (6,641) |  |  | (9,398)
Comprehensive income | $ | 80,731 |  | $ | 86,588 |  | $ | 11,899
Statements of Cash Flows
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
(In thousands) |  |  |  |  |  |
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net income | $ | 66,956 |  | $ | 93,229 |  | $ | 21,297
Adjustments to reconcile net income to net cash |  |  |  |  |  |  |  |
provided by (used in) operating activities: |  |  |  |  |  |  |  |
Stock-based compensation |  | 3,769 |  |  | 3,563 |  |  | 2,835
Equity in undistributed earnings of subsidiaries |  | (66,587) |  |  | (58,061) |  |  | (30,641)
Gain on early extinguishment of debt |  | (1,391) |  |  | (4,217) |  |  | -
Accretion of discount on loans |  | (14) |  |  | (11) |  |  | (7)
Net (increase) decrease in other assets |  | (8) |  |  | 802 |  |  | (293)
Net (decrease) increase in other liabilities |  | (201) |  |  | (26,685) |  |  | 6,643
Net cash provided by (used in) operating activities |  | 2,524 |  |  | 8,620 |  |  | (166)
Cash flows from investing activities: |  |  |  |  |  |  |  |
Principal collected on loans |  | 50 |  |  | 50 |  |  | 63
Net cash provided by investing activities |  | 50 |  |  | 50 |  |  | 63
Cash flows from financing activities: |  |  |  |  |  |  |  |
Repurchase of common stock |  | (2,497) |  |  | (1,132) |  |  | (1,174)
Repayment of junior subordinated debentures |  | (5,930) |  |  | (7,025) |  |  | -
Dividends paid on preferred stock |  | (2,676) |  |  | (223) |  |  | -
Net cash used in financing activities |  | (11,103) |  |  | (8,380) |  |  | (1,174)
Net (decrease) increase in cash and cash equivalents |  | (8,529) |  |  | 290 |  |  | (1,277)
Cash and cash equivalents at beginning of the year |  | 35,504 |  |  | 35,214 |  |  | 36,491
Cash and cash equivalents at end of year | $ | 26,975 |  | $ | 35,504 |  | $ | 35,214
Cash and cash equivalents include: |  |  |  |  |  |  |  |
Cash and due from banks | $ | 20,864 |  | $ | 29,393 |  | $ | 29,103
Money market instruments |  | 6,111 |  |  | 6,111 |  |  | 6,111
| $ | 26,975 |  | $ | 35,504 |  | $ | 35,214

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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