First BanCorp. (FBP)

First BanCorp. Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	954.71	890.56	747.9	719.15	631.05	603
Interest Income on Investments	126.2	132.92	114.71	75.56	61.94	72.9
Total Interest Income	1,081	1,023	862.61	794.71	692.98	675.9
Interest Paid on Deposits	250.07	185.46	46.36	41.48	68.39	77.78
Interest Paid on Borrowings	35.94	40.92	20.96	23.3	24.27	31.03
Total Interest Expense	286.01	226.38	67.32	64.78	92.66	108.82
Net Interest Income	794.89	797.11	795.29	729.93	600.32	567.08
Net Interest Income Growth (YoY)	-1.38%	0.23%	8.95%	21.59%	5.86%	7.94%
Mortgage Banking Activities	11.59	10.58	15.19	24.87	22.33	17.1
Gain (Loss) on Sale of Assets	3.51	3.51	0.92	0.03	0.22	-
Gain (Loss) on Sale of Investments	0.02	0.02	-0.52	-0.1	13.24	-0.5
Other Non-Interest Income	77.89	74.95	69.61	60.4	45.95	49.43
Total Non-Interest Income	131.75	127.1	123.03	120.49	106.34	89.96
Non-Interest Income Growth (YoY)	6.77%	3.31%	2.10%	13.31%	18.21%	13.04%
Revenues Before Loan Losses	926.65	924.21	918.32	850.42	706.66	657.04
Provision for Loan Losses	57.83	60.94	27.7	-65.7	170.99	46.24
Revenue	868.82	863.27	890.62	916.12	535.68	610.8
Revenue Growth (YoY)	-0.31%	-3.07%	-2.78%	71.02%	-12.30%	15.46%
Salaries and Employee Benefits	222.94	215.06	200.63	194.93	170.18	158.43
Occupancy Expenses	70.2	68.61	69.88	72.45	58.91	52.47
Federal Deposit Insurance	14.94	14.87	6.15	6.54	6.49	6.32
Selling, General & Administrative	102.59	99.13	98.61	108.34	91.89	83.14
Other Non-Interest Expense	84.79	80.9	73.67	79.74	62.68	52.03
Total Non-Interest Expense	488.05	471.43	443.11	459.84	393.75	367.03
EBT Excluding Unusual Items	380.77	391.84	447.52	456.28	141.93	243.77
Asset Writedown	-	0.01	0.07	0.12	-0.21	-0.04
Legal Settlements	-	3.6	-	-	-	-
Other Unusual Items	-1.1	1.61	-	-2.7	-5.04	6.43
Pretax Income	380.05	397.44	447.58	427.82	116.32	239.37
Income Tax Expense	77.54	94.57	142.51	146.79	14.05	72
Net Income	302.51	302.86	305.07	281.03	102.27	167.38
Preferred Dividends & Other Adjustments	-	-	-	3.69	2.68	2.68
Net Income to Common	302.51	302.86	305.07	277.34	99.6	164.7
Net Income Growth	2.01%	-0.72%	8.56%	174.78%	-38.90%	-16.98%
Basic Shares Outstanding	166	177	191	210	217	217
Diluted Shares Outstanding	167	177	192	211	218	217
Shares Change (YoY)	-7.44%	-7.70%	-9.15%	-2.93%	0.25%	0.21%
EPS (Basic)	1.82	1.72	1.60	1.32	0.46	0.76
EPS (Diluted)	1.81	1.71	1.59	1.31	0.46	0.76
EPS Growth	9.82%	7.55%	21.37%	185.29%	-39.58%	-17.39%
Dividend Per Share	0.620	0.560	0.460	0.310	0.200	0.140
Dividend Growth	14.81%	21.74%	48.39%	55.00%	42.86%	366.67%
Effective Tax Rate	20.40%	23.80%	31.84%	34.31%	12.08%	30.08%

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