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FIRST BANCORP. (Holding Company Only) Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2025
FIRST BANCORP. (Holding Company Only) Financial Information [Abstract] |
Statements of Financial Condition [Table Text Block] | The following condensed financial information presents the financial position of First BanCorp. at the holding company level only as of March 31, 2025 and December 31, 2024, and the results of its operations for the quarters ended March 31, 2025 and 2024: Statements of Financial Condition As of March 31, As of December 31, 2025 2024 (In thousands) Assets Cash and due from banks $ 26,114 $ 13,295 Equity securities 1,425 1,275 Investment in First Bank Puerto Rico, at equity 1,739,360 1,694,000 Investment in First Bank Insurance Agency, at equity 27,464 24,121 Investment in FBP Statutory Trust I (1) 333 1,289 Investment in FBP Statutory Trust II (1) - 561 Dividends receivable 610 619 Other assets 702 459 Total assets $ 1,796,008 $ 1,735,619 Liabilities and Stockholders’ Equity Liabilities: Long-term borrowings (1) $ 11,143 $ 61,700 Accounts payable and other liabilities 5,523 4,683 Total liabilities 16,666 66,383 Stockholders’ equity 1,779,342 1,669,236 Total liabilities and stockholders’ equity $ 1,796,008 $ 1,735,619 (1) During the first quarter of 2025, the Corporation redeemed $ 50.6 million of outstanding TruPS, that resulted in the full redemption of the remaining $ 18.6 million (or $ 18.0 million after excluding the Corporation’s interest in the Trust of approximately $ 0.6 million) in TruPS issued by FBP Statutory Trust II and reduced the outstanding amount of TruPS issued by FBP Statutory Trust I by $ 32.0 million (or $ 31.0 million after excluding the Corporation’s interest in the Trust of approximately $ 1.0 million), as further explained in Note 6 – “Non- Consolidated Variable Interest Entities (“VIEs”) and Servicing Assets”.
Statements of Income [Table Text Block] | Statements of Income Quarter Ended March 31, 2025 2024 (In thousands) Income Interest income on money market investments $ 94 $ 63 Dividend income from banking subsidiaries 117,457 80,917 Other income 29 101 Total income 117,580 81,081 Expense Interest expense on long-term borrowings 981 3,350 Other non-interest expenses 478 439 Total expense 1,459 3,789 Income before income taxes and equity in undistributed earnings of subsidiaries 116,121 77,292 Income tax expense 1 1 Equity in undistributed earnings of subsidiaries (distribution in excess of earnings) (39,061) (3,833) Net income $ 77,059 $ 73,458 Other comprehensive income (loss), net of tax 84,061 (15,065) Comprehensive income $ 161,120 $ 58,393

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