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FIRST BANCORP. (Holding Company Only) Financial Information (Tables)
6 Months Ended
Jun. 30, 2023
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Statements of Financial Condition [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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)