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FIRST BANCORP. (Holding Company Only) Financial Information | 6 Months Ended
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Jun. 30, 2022
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
FIRST BANCORP. (Holding Company Only) Financial Information [Text Block] | NOTE 23 – 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 June 30, 2022 and December 31, 2021, and the results of its operations for the quarters and six-month periods ended June 30, 2022 and 2021:
Statements of Financial Condition
(Unaudited)
|  | As of June 30, |  |  | As of December 31,
|  | 2022 |  | 2021
(In thousands) |
Assets |  |  |  |  |
Cash and due from banks | $ | 18,387 |  | $ | 20,751
Other investment securities |  | 285 |  |  | 285
Investment in First Bank Puerto Rico, at equity |  | 1,648,605 |  |  | 2,247,289
Investment in First Bank Insurance Agency, at equity |  | 25,674 |  |  | 19,521
Investment in FBP Statutory Trust I |  | 1,951 |  |  | 1,951
Investment in FBP Statutory Trust II |  | 3,561 |  |  | 3,561
Dividend receivable |  | 50,797 |  |  | 295
Other assets |  | 210 |  |  | 71
| Total assets | $ | 1,749,470 |  | $ | 2,293,724
Liabilities and Stockholdersʼ Equity |  |  |  |  |
Liabilities: |  |  |  |  |
Other borrowings | $ | 183,762 |  | $ | 183,762
Accounts payable and other liabilities |  | 7,792 |  |  | 8,195
| Total liabilities |  | 191,554 |  |  | 191,957
Stockholdersʼ equity |  | 1,557,916 |  |  | 2,101,767
| Total liabilities and stockholdersʼ equity | $ | 1,749,470 |  | $ | 2,293,724
Statements of Income
(Unaudited)
|  |  | Quarter Ended June 30, |  | Six-Month Period Ended June 30,
|  |  | 2022 |  | 2021 |  | 2022 |  | 2021
(In thousands) |  |
Income: |  |  |  |  |  |  |  |  |  |  |
| Interest income on money market investments | $ | 10 |  | $ | 8 |  | $ | 14 |  | $ | 24
| Dividend income from banking subsidiaries |  | 178,679 |  |  | 16,328 |  |  | 242,272 |  |  | 35,129
| Other income |  | 51 |  |  | 39 |  |  | 91 |  |  | 77
|  | Total income |  | 178,740 |  |  | 16,375 |  |  | 242,377 |  |  | 35,230
Expense: |  |  |  |  |  |  |  |  |  |  |
| Other borrowings |  | 1,698 |  |  | 1,285 |  |  | 3,031 |  |  | 2,579
| Other operating expenses |  | 434 |  |  | 637 |  |  | 873 |  |  | 1,136
| Total expenses |  | 2,132 |  |  | 1,922 |  |  | 3,904 |  |  | 3,715
Income before income taxes and equity in undistributed earnings |  |  |  |  |  |  |  |  |  |  |
|  | of subsidiaries |  | 176,608 |  |  | 14,453 |  |  | 238,473 |  |  | 31,515
Income tax expense |  | 793 |  |  | 659 |  |  | 1,899 |  |  | 1,788
(Distributions in excess of earnings) equity in undistributed |  |  |  |  |  |  |  |  |  |  |
|  | earnings of subsidiaries |  | (101,120) |  |  | 56,764 |  |  | (79,279) |  |  | 101,981
Net income | $ | 74,695 |  | $ | 70,558 |  | $ | 157,295 |  | $ | 131,708
Other comprehensive (loss) income, net of tax |  | (175,923) |  |  | 28,496 |  |  | (507,757) |  |  | (70,433)
Comprehensive (loss) income | $ | (101,228) |  | $ | 99,054 |  | $ | (350,462) |  | $ | 61,275

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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/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=123454820&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
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