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FIRST BANCORP. (Holding Company Only) Financial Information (Tables)
3 Months Ended
Mar. 31, 2024
FIRST BANCORP. (Holding Company Only) Financial Information [Abstract]  
Statements of Financial Condition [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Statements of Financial Condition
As of March 31,
As of December 31,
2024
2023
(In thousands)
Assets
Cash and due from banks
$
11,420
$
11,452
Other investment securities
975
825
Investment in First Bank Puerto Rico, at equity
1,608,030
1,627,172
Investment in First Bank Insurance Agency,
 
at equity
21,509
18,376
Investment in FBP Statutory Trust I
1,289
1,289
Investment in FBP Statutory Trust II
3,561
3,561
Dividends receivable
709
713
Other assets
679
476
 
Total assets
$
1,648,172
$
1,663,864
Liabilities and Stockholders’ Equity
Liabilities:
Long-term borrowings
 
$
161,700
$
161,700
Accounts payable and other liabilities
6,755
4,555
 
Total liabilities
168,455
166,255
Stockholders’ equity
1,479,717
1,497,609
 
Total liabilities and stockholders’
 
equity
$
1,648,172
$
1,663,864
Statements of Income [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Statements of Income
 
Quarter Ended March 31,
2024
2023
(In thousands)
Income
 
 
Interest income on money market investments
 
$
63
$
53
 
Dividend income from banking subsidiaries
80,917
78,870
 
Other income
101
102
 
Total income
81,081
79,025
Expense
 
Interest expense on long-term borrowings
3,350
3,381
 
Other non-interest expenses
439
410
 
Total expense
3,789
3,791
Income before income taxes and equity in undistributed
 
earnings of subsidiaries
77,292
75,234
Income tax expense
1
1
Equity in undistributed earnings of subsidiaries (distribution in excess of
 
earnings)
(3,833)
(4,535)
Net income
$
73,458
$
70,698
Other comprehensive (loss) income, net of tax
(15,065)
87,228
Comprehensive income
$
58,393
$
157,926