XML 41 R30.htm IDEA: XBRL DOCUMENT

FIRST BANCORP. (Holding Company Only) Financial Information	6 Months Ended
	Jun. 30, 2024
FIRST BANCORP. (Holding Company Only) Financial Information [Abstract]
FIRST BANCORP. (Holding Company Only) Financial Information	NOTE 22 – 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, 2024 and December 31, 2023, and the results of its operations for the quarters and six-month periods ended June 30, 2024 and 2023: Statements of Financial Condition As of June 30, As of December 31, 2024 2023 (In thousands) Assets Cash and due from banks $ 10,516 $ 11,452 Other investment securities 1,275 825 Investment in First Bank Puerto Rico, at equity 1,617,826 1,627,172 Investment in First Bank Insurance Agency, at equity 22,378 18,376 Investment in FBP Statutory Trust I 1,289 1,289 Investment in FBP Statutory Trust II 3,561 3,561 Dividends receivable 1,405 713 Other assets 590 476 Total assets $ 1,658,840 $ 1,663,864 Liabilities and Stockholders’ Equity Liabilities: Long-term borrowings $ 161,700 $ 161,700 Accounts payable and other liabilities 5,680 4,555 Total liabilities 167,380 166,255 Stockholders’ equity 1,491,460 1,497,609 Total liabilities and stockholders’ equity $ 1,658,840 $ 1,663,864 Statements of Income Quarter Ended Six-Month Period Ended June 30, June 30, 2024 2023 2024 2023 (In thousands) Income Interest income on money market investments $ 87 $ 57 $ 150 $ 110 Dividend income from banking subsidiaries 81,232 78,932 162,149 157,802 Dividend income from nonbanking subsidiaries - 12,000 - 12,000 Gain on early extinguishment of debt - 1,605 - 1,605 Other income 100 101 201 203 Total income 81,419 92,695 162,500 171,720 Expense Interest expense on long-term borrowings 3,336 3,409 6,686 6,790 Other non-interest expenses 463 462 902 872 Total expense 3,799 3,871 7,588 7,662 Income before income taxes and equity in undistributed earnings of subsidiaries 77,620 88,824 154,912 164,058 Income tax expense - - 1 1 Equity in undistributed earnings of subsidiaries (distributions in excess of earnings) (1,782) (18,169) (5,615) (22,704) Net income $ 75,838 $ 70,655 $ 149,296 $ 141,353 Other comprehensive income (loss), net of tax 10,560 (54,837) (4,505) 32,391 Comprehensive income $ 86,398 $ 15,818 $ 144,791 $ 173,744