XML 49 R38.htm IDEA: XBRL DOCUMENT v3.21.2

FIRST BANCORP. (Holding Company Only) Financial Information

9 Months Ended

Sep. 30, 2021

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

FIRST BANCORP. (Holding Company Only) Financial Information [Text Block]

NOTE 30 – FIRST BANCORP. (HOLDING COMPANY ONLY) FINANCIAL INFORMATION

The following condensed financial information presents the financial position of First BanCorp. at the holding company level only as of September 30, 2021 and December 31, 2020, and the results of its operations for the quarters and nine-month periods ended September 30, 2021 and 2020.

Statements of Financial Condition
(Unaudited)
		As of September 30,				As of December 31,
		2021			2020
(In thousands)
Assets
Cash and due from banks		$	46,044		$	10,909
Money market investments			-			6,211
Other investment securities			285			285
Investment in First Bank Puerto Rico, at equity			2,318,996			2,396,963
Investment in First Bank Insurance Agency, at equity			18,339			41,313
Investment in FBP Statutory Trust I			1,951			1,951
Investment in FBP Statutory Trust II			3,561			3,561
Other assets			110			2,023
	Total assets	$	2,389,286		$	2,463,216
Liabilities and Stockholdersʼ Equity
Liabilities:
Other borrowings		$	183,762		$	183,762
Accounts payable and other liabilities			7,559			4,275
	Total liabilities		191,321			188,037
Stockholdersʼ equity			2,197,965			2,275,179
	Total liabilities and stockholdersʼ equity	$	2,389,286		$	2,463,216

Statements of Income
(Unaudited)
		Quarter Ended						Nine-Month Period Ended
		September 30,						September 30,
		2021			2020			2021			2020
(In thousands)
Income:
	Interest income on money market investments	$	13		$	12		$	37		$	60
	Dividend income from banking subsidiaries		15,555			14,482			50,684			41,370
	Dividend income from non-banking subsidiaries		30,000			-			30,000			-
	Other income		39			51			116			399
			45,607			14,545			80,837			41,829
Expense:
	Other borrowings		1,277			1,356			3,856			5,029
	Other operating expenses		358			607			1,494			1,665
			1,635			1,963			5,350			6,694
Gain on early extinguishment of debt			-			94			-			94
Income before income taxes and equity
	in undistributed earnings of subsidiaries		43,972			12,676			75,487			35,229
Income tax provision			556			448			2,344			1,671
Equity in undistributed earnings of subsidiaries			32,262			16,385			134,243			18,577
Net income		$	75,678		$	28,613		$	207,386		$	52,135
Other comprehensive (loss) income, net of tax			(18,740)			(7,943)			(89,173)			38,563
Comprehensive income		$	56,938		$	20,670		$	118,213		$	90,698

X

- References

No definition available.

+ Details

Name:	srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix:	srt_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

+ Details

Name:	us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration