XML 41 R31.htm IDEA: XBRL DOCUMENT

FIRST BANCORP. (Holding Company Only) Financial Information	9 Months Ended
	Sep. 30, 2023
FIRST BANCORP. (Holding Company Only) Financial Information [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 September 30, 2023 and December 31, 2022, and the results of its operations for the quarters and nine-month periods ended September 30, 2023 and 2022: Statements of Financial Condition As of September 30, As of December 31, 2023 2022 (In thousands) Assets Cash and due from banks $ 34,804 $ 19,279 Other investment securities 735 735 Investment in First Bank Puerto Rico, at equity 1,410,410 1,464,026 Investment in First Bank Insurance Agency, at equity 23,596 28,770 Investment in FBP Statutory Trust I 1,289 1,951 Investment in FBP Statutory Trust II 3,561 3,561 Dividends receivable 715 624 Other assets 577 430 Total assets $ 1,475,687 $ 1,519,376 Liabilities and Stockholders’ Equity Liabilities: Long-term borrowings $ 161,700 $ 183,762 Accounts payable and other liabilities 10,919 10,074 Total liabilities 172,619 193,836 Stockholders’ equity 1,303,068 1,325,540 Total liabilities and stockholders’ equity $ 1,475,687 $ 1,519,376 Statements of Income Quarter Ended Nine-Month Period Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) Income Interest income on money market investments $ 77 $ 19 $ 187 $ 33 Dividend income from banking subsidiaries 82,178 49,728 239,980 292,000 Dividend income from nonbanking subsidiaries - - 12,000 - Gain on early extinguishment of debt - - 1,605 - Other income 101 68 304 159 Total income 82,356 49,815 254,076 292,192 Expense Interest expense on long-term borrowings 3,345 2,273 10,135 5,304 Other non-interest expenses 452 422 1,324 1,295 Total expense 3,797 2,695 11,459 6,599 Income before income taxes and equity in undistributed earnings of subsidiaries 78,559 47,120 242,617 285,593 Income tax expense 745 735 2,606 2,634 Equity in undistributed earnings of subsidiaries (distributions in excess of earnings) 4,208 28,218 (16,636) (51,061) Net income $ 82,022 $ 74,603 $ 223,375 $ 231,898 Other comprehensive loss, net of tax (78,976) (270,937) (46,585) (778,694) Comprehensive income (loss) $ 3,046 $ (196,334) $ 176,790 $ (546,796)