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FIRST BANCORP. (Holding Company Only) Financial Information | 6 Months Ended
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Jun. 30, 2023
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
FIRST BANCORP. (Holding Company Only) Financial Information | 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, 2023 and December 31, 2022, and the results of its operations for the quarters and six-month periods ended June 30, 2023 and 2022: Statements of Financial Condition As of June 30, As of December 31, 2023 2022 (In thousands) Assets Cash and due from banks $ 54,625 $ 19,279 Other investment securities 735 735 Investment in First Bank Puerto Rico, at equity 1,484,887 1,464,026 Investment in First Bank Insurance Agency, at equity 22,024 28,770 Investment in FBP Statutory Trust I 1,289 1,951 Investment in FBP Statutory Trust II 3,561 3,561 Dividends receivable 700 624 Other assets 542 430 Total assets $ 1,568,363 $ 1,519,376 Liabilities and Stockholders’ Equity Liabilities: Long-term borrowings $ 161,700 $ 183,762 Accounts payable and other liabilities 8,664 10,074 Total liabilities 170,364 193,836 Stockholders’ equity 1,397,999 1,325,540 Total liabilities and stockholders’ equity $ 1,568,363 $ 1,519,376 Statements of Income Quarter Ended Six-Month Period Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Income Interest income on money market investments $ 57 $ 10 $ 110 $ 14 Dividend income from banking subsidiaries 78,932 178,679 157,802 242,272 Dividend income from nonbanking subsidiaries 12,000 - 12,000 - Gain on early extinguishment of debt 1,605 - 1,605 - Other income 101 51 203 91 Total income 92,695 178,740 171,720 242,377 Expense Other long-term borrowings 3,409 1,698 6,790 3,031 Other non-interest expenses 462 434 872 873 Total expense 3,871 2,132 7,662 3,904 Income before income taxes and equity in undistributed earnings of subsidiaries 88,824 176,608 164,058 238,473 Income tax expense 783 793 1,861 1,899 Distribution in excess of earnings of subsidiaries (17,386) (101,120) (20,844) (79,279) Net income $ 70,655 $ 74,695 $ 141,353 $ 157,295 Other comprehensive (loss) income, net of tax (54,837) (175,923) 32,391 (507,757) Comprehensive income (loss) $ 15,818 $ (101,228) $ 173,744 $ (350,462)

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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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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