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FIRST BANCORP. (Holding Company Only) Financial Information | 6 Months Ended
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Jun. 30, 2025
FIRST BANCORP. (Holding Company Only) Financial Information [Abstract] |
FIRST BANCORP. (Holding Company Only) Financial Information | NOTE 20 – 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, 2025 and December 31, 2024, and the results of its operations for the quarters and six-month periods ended June 30, 2025 and 2024: Statements of Financial Condition As of June 30, As of December 31, 2025 2024 (In thousands) Assets Cash and due from banks $ 27,923 $ 13,295 Equity securities 1,725 1,275 Investment in First Bank Puerto Rico, at equity 1,790,198 1,694,000 Investment in First Bank Insurance Agency, at equity 28,213 24,121 Investment in FBP Statutory Trust I (1) - 1,289 Investment in FBP Statutory Trust II (1) - 561 Dividends receivable 1,220 619 Other assets 576 459 Total assets $ 1,849,855 $ 1,735,619 Liabilities and Stockholders’ Equity Liabilities: Long-term borrowings (1) $ - $ 61,700 Accounts payable and other liabilities 4,400 4,683 Total liabilities 4,400 66,383 Stockholders’ equity 1,845,455 1,669,236 Total liabilities and stockholders’ equity $ 1,849,855 $ 1,735,619 (1) During the first half of 2025, the Corporation redeemed the remaining $ 61.7 million of the outstanding TruPS issued by FBP Statutory Trusts I and II (or $ 59.8 million after excluding the Corporation’s interest in the Trusts of approximately $ 1.9 million), as further explained in Note 6 – “Non-Consolidated Variable Interest Entities (“VIEs”) and Servicing Assets.” Statements of Income Quarter Ended Six-Month Period Ended June 30, June 30, 2025 2024 2025 2024 (In thousands) Income Interest income on money market investments $ 93 $ 87 $ 187 $ 150 Dividend income from banking subsidiaries 72,438 81,232 189,895 162,149 Other income 7 100 36 201 Total income 72,538 81,419 190,118 162,500 Expense Interest expense on long-term borrowings 175 3,336 1,156 6,686 Other non-interest expenses 463 463 941 902 Total expense 638 3,799 2,097 7,588 Income before income taxes and equity in undistributed earnings of subsidiaries 71,900 77,620 188,021 154,912 Income tax expense - - 1 1 Equity in undistributed earnings of subsidiaries (distributions in excess of earnings) 8,280 (1,782) (30,781) (5,615) Net income $ 80,180 $ 75,838 $ 157,239 $ 149,296 Other comprehensive income (loss), net of tax 41,205 10,560 125,266 (4,505) Comprehensive income $ 121,385 $ 86,398 $ 282,505 $ 144,791

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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