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FIRST BANCORP. (Holding Company Only) Financial Information | 3 Months Ended
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Mar. 31, 2023
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 March 31, 2023 and December 31, 2022, and the results of its operations for the quarters ended March 31, 2023 and 2022: Statements of Financial Condition As of March 31, As of December 31, 2023 2022 (In thousands) Assets Cash and due from banks $ 13,981 $ 19,279 Other investment securities 735 735 Investment in First Bank Puerto Rico, at equity 1,544,874 1,464,026 Investment in First Bank Insurance Agency, at equity 32,374 28,770 Investment in FBP Statutory Trust I 1,951 1,951 Investment in FBP Statutory Trust II 3,561 3,561 Dividends receivable 637 624 Other assets 426 430 Total assets $ 1,598,539 $ 1,519,376 Liabilities and Stockholders’ Equity Liabilities: Long-term borrowings $ 183,762 $ 183,762 Accounts payable and other liabilities 9,184 10,074 Total liabilities 192,946 193,836 Stockholders’ equity 1,405,593 1,325,540 Total liabilities and stockholders’ equity $ 1,598,539 $ 1,519,376 Statements of Income Quarter Ended March 31, 2023 2022 (In thousands) Income Interest income on money market investments $ 53 $ 4 Dividend income from banking subsidiaries 78,870 63,593 Other income 102 40 Total income 79,025 63,637 Expense Other borrowings 3,381 1,333 Other operating expenses 410 439 Total expense 3,791 1,772 Income before income taxes and equity in undistributed earnings of subsidiaries 75,234 61,865 Income tax expense 1,078 1,106 Equity in undistributed earnings of subsidiaries (distribution in excess of earnings) (3,458) 21,841 Net income $ 70,698 $ 82,600 Other comprehensive income (loss), net of tax 87,228 (331,834) Comprehensive income (loss) $ 157,926 $ (249,234)

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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 https://asc.fasb.org/extlink&oid=126898705&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 https://asc.fasb.org/extlink&oid=126929396&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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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