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FIRST BANCORP. (Holding Company Only) Financial Information (Tables)
 9 Months Ended
Sep. 30, 2022
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Statements of Financial Condition [Table Text Block]
The following
 
condensed
 
financial information
 
presents the
 
financial
 
position of First
 
BanCorp. at the
 
holding company
 
level only as
 
of
September
 
30, 2022 and
 
December 31,
 
2021, and the
 
results of
 
its operations
 
for the quarters
 
and nine-month
 
periods ended
 
September
 
30,
2022 and
 
2021:
Statements of Financial Condition
(Unaudited)
As of September 30,
As of December 31,
2022
2021
(In thousands)
Assets
Cash and due from banks
$
18,298
$
20,751
Other investment securities
735
285
Investment in First Bank Puerto Rico, at equity
1,408,435
2,247,289
Investment in First Bank Insurance Agency,
 
at equity
24,501
19,521
Investment in FBP Statutory Trust I
1,951
1,951
Investment in FBP Statutory Trust II
3,561
3,561
Dividend receivable
523
295
Other assets
155
71
Total assets
$
1,458,159
$
2,293,724
Liabilities and Stockholdersʼ Equity
Liabilities:
Other borrowings
 
$
183,762
$
183,762
Accounts payable and other liabilities
9,064
8,195
Total liabilities
192,826
191,957
Stockholdersʼ equity
1,265,333
2,101,767
Total liabilities and stockholdersʼ
 
equity
$
1,458,159
$
2,293,724
Statements of Income [Table Text Block]
Statements of Income
(Unaudited)
Quarter Ended September
30,
Nine-Month Period Ended
September 30,
2022
2021
2022
2021
(In thousands)
Income:
Interest income on money market investments
$
19
$
13
$
33
$
37
Dividend income from banking subsidiaries
49,728
15,555
292,000
50,684
Dividend income from non-banking subsidiaries
-
30,000
-
30,000
Other income
68
39
159
116
Total income
49,815
45,607
292,192
80,837
Expense:
Other borrowings
2,273
1,277
5,304
3,856
Other operating expenses
422
358
1,295
1,494
Total expenses
2,695
1,635
6,599
5,350
Income before income taxes and equity in undistributed
 
earnings of subsidiaries
47,120
43,972
285,593
75,487
Income tax expense
735
556
2,634
2,344
Equity in undistributed earnings of subsidiaries
(distributions in excess of earnings)
28,218
32,262
(51,061)
134,243
Net income
$
74,603
$
75,678
$
231,898
$
207,386
Other comprehensive loss, net of tax
(270,937)
(18,740)
(778,694)
(89,173)
Comprehensive (loss) income
$
(196,334)
$
56,938
$
(546,796)
$
118,213