First BanCorp. (FBP)

First BanCorp. Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	1,095	890.56	747.9	719.15	631.05
Interest Income on Investments	-	132.92	114.71	75.56	61.94
Total Interest Income	1,095	1,023	862.61	794.71	692.98
Interest Paid on Deposits	287.67	185.46	46.36	41.48	68.39
Interest Paid on Borrowings	-	40.92	20.96	23.3	24.27
Total Interest Expense	287.67	226.38	67.32	64.78	92.66
Net Interest Income	807.48	797.11	795.29	729.93	600.32
Net Interest Income Growth (YoY)	1.30%	0.23%	8.95%	21.59%	5.86%
Mortgage Banking Activities	12.68	10.58	15.19	24.87	22.33
Gain (Loss) on Sale of Assets	-	3.51	0.92	0.03	0.22
Gain (Loss) on Sale of Investments	-	0.02	-0.52	-0.1	13.24
Other Non-Interest Income	79.22	74.95	69.61	60.4	45.95
Total Non-Interest Income	130.72	127.1	123.03	120.49	106.34
Non-Interest Income Growth (YoY)	2.85%	3.31%	2.10%	13.31%	18.21%
Revenues Before Loan Losses	938.2	924.21	918.32	850.42	706.66
Provision for Loan Losses	59.92	60.94	27.7	-65.7	170.99
Revenue	878.28	863.27	890.62	916.12	535.68
Revenue Growth (YoY)	1.74%	-3.07%	-2.78%	71.02%	-12.30%
Salaries and Employee Benefits	235.7	215.06	200.63	194.93	170.18
Occupancy Expenses	88.43	68.61	69.88	72.45	58.91
Federal Deposit Insurance	9.82	14.87	6.15	6.54	6.49
Selling, General & Administrative	67.1	99.13	98.61	108.34	91.89
Other Non-Interest Expense	93.51	80.9	73.67	79.74	62.68
Total Non-Interest Expense	487.07	471.43	443.11	459.84	393.75
EBT Excluding Unusual Items	391.21	391.84	447.52	456.28	141.93
Asset Writedown	-	0.01	0.07	0.12	-0.21
Legal Settlements	-	3.6	-	-	-
Other Unusual Items	-	1.61	-	-2.7	-5.04
Pretax Income	391.21	397.44	447.58	427.82	116.32
Income Tax Expense	92.48	94.57	142.51	146.79	14.05
Net Income	298.72	302.86	305.07	281.03	102.27
Preferred Dividends & Other Adjustments	-	-	-	3.69	2.68
Net Income to Common	298.72	302.86	305.07	277.34	99.6
Net Income Growth	-1.37%	-0.72%	8.56%	174.78%	-38.90%
Basic Shares Outstanding	165	177	191	210	217
Diluted Shares Outstanding	165	177	192	211	218
Shares Change (YoY)	-6.72%	-7.70%	-9.15%	-2.93%	0.25%
EPS (Basic)	1.82	1.72	1.60	1.32	0.46
EPS (Diluted)	1.81	1.71	1.59	1.31	0.46
EPS Growth	5.85%	7.55%	21.37%	185.29%	-39.58%
Dividend Per Share	0.640	0.560	0.460	0.310	0.200
Dividend Growth	14.29%	21.74%	48.39%	55.00%	42.86%
Effective Tax Rate	23.64%	23.80%	31.84%	34.31%	12.08%

Source: S&P Capital IQ. Banks template. Financial Sources.