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FIRST BANCORP. (Holding Company Only) Financial Information (Tables) | 9 Months Ended
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Sep. 30, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Statements of Financial Condition | The following condensed financial information presents the financial position of the Holding Company only as of September 30, 2018 and December 31, 2017 and the results of its operations for the quarters and nine-month periods ended September 30, 2018 and 2017.
Statements of Financial Condition
| As of September 30, |  |  | As of December 31,
| 2018 |  | 2017
(In thousands) |
Assets |  |  |  |  |
Cash and due from banks | $ | 20,940 |  | $ | 20,864
Money market investments |  | 6,111 |  |  | 6,111
Other investment securities |  | 285 |  |  | 285
Loans held for investment, net |  | - |  |  | 191
Investment in FirstBank Puerto Rico, at equity |  | 2,062,908 |  |  | 2,028,641
Investment in FirstBank Insurance Agency, at equity |  | 16,738 |  |  | 12,400
Investment in FBP Statutory Trust I |  | 1,963 |  |  | 2,698
Investment in FBP Statutory Trust II |  | 3,561 |  |  | 3,561
Other assets |  | 2,329 |  |  | 3,799
Total assets | $ | 2,114,835 |  | $ | 2,078,550
Liabilities and Stockholdersʼ Equity |  |  |  |  |
Liabilities: |  |  |  |  |
Other borrowings | $ | 184,150 |  | $ | 208,635
Accounts payable and other liabilities |  | 3,270 |  |  | 818
Total liabilities |  | 187,420 |  |  | 209,453
Stockholdersʼ equity |  | 1,927,415 |  |  | 1,869,097
Total liabilities and stockholdersʼ equity | $ | 2,114,835 |  | $ | 2,078,550
Statements of Income (Loss) |
Statements of Income (Loss) |
| Quarter Ended |  | Nine-Month Period Ended |
| September 30, |  | September 30, |
| 2018 |  | 2017 |  | 2018 |  | 2017 |
| (In thousands) | (In thousands)
Income: |  |  |  |  |  |  |  |  |  |  |  |
Interest income on money market investments | $ | 5 |  | $ | 5 |  | $ | 15 |  | $ | 15 |
Interest income on loans |  | 105 |  |  | - |  |  | 105 |  |  | - |
Dividend income from banking subsidiary |  | 2,900 |  |  | 1,800 |  |  | 28,284 |  |  | 5,400 |
Dividend income from non-banking subsidiaries |  | - |  |  | 3,000 |  |  | - |  |  | 3,000 |
Other income |  | 70 |  |  | 68 |  |  | 203 |  |  | 195 |
|  | 3,080 |  |  | 4,873 |  |  | 28,607 |  |  | 8,610 |
Expense: |  |  |  |  |  |  |  |  |  |  |  |
Other borrowings |  | 2,315 |  |  | 2,139 |  |  | 6,635 |  |  | 6,166 |
Other operating expenses |  | 624 |  |  | 814 |  |  | 1,851 |  |  | 2,480 |
|  | 2,939 |  |  | 2,953 |  |  | 8,486 |  |  | 8,646 |
Gain on early extinguishment of debt |  | - |  |  | 1,391 |  |  | 2,316 |  |  | 1,391 |
Income before income taxes and equity |  |  |  |  |  |  |  |  |  |  |  |
in undistributed earnings (losses) of subsidiaries |  | 141 |  |  | 3,311 |  |  | 22,437 |  |  | 1,355 |
Income tax expense |  | - |  |  | (45) |  |  | - |  |  | (45) |
Equity in undistributed earnings (losses) of subsidiaries |  | 36,182 |  |  | (14,018) |  |  | 78,066 |  |  | 41,477 |
Net income (loss) | $ | 36,323 |  | $ | (10,752) |  | $ | 100,503 |  | $ | 42,787 |
Other Comprehensive (loss) income, net of tax |  | (10,780) |  |  | 3,719 |  |  | (42,272) |  |  | 23,480 |
Comprehensive income (loss) | $ | 25,543 |  | $ | (7,033) |  | $ | 58,231 |  | $ | 66,267 |

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