First BanCorp (Puerto Rico)

FBP · NYSE · Financials · Financials, fiscal 2016 to 2025

FBP · Last close · November 6, 2026

$26.00

Value First BanCorp (Puerto Rico) yourself

First BanCorp (Puerto Rico)'s revenue rose 2.4% to $1.3 billion in fiscal 2025. Net income was $345 million, up 15.4%. Its return on equity was 19.0%, up from 18.9% a year earlier. Its efficiency ratio was 39.7%, about the same as 39.7% a year earlier. It paid out $269 million in dividends and buybacks. The diluted share count fell 2.7%.

FIRST BANCORP Latest fiscal year ended December 31, 2025 10-K filed February 27, 2026 · 0001057706-26-000007 Updated November 6, 2026

Revenue

$1.3B

2.4%

Net income

$345M

15.4%

Return on equity

19.0%

0.1 pts

Return on tangible equity

19.4%

0.0 pts

Efficiency ratio

39.7%

0.0 pts

Market cap

$3.9B

Nov 6 close

P/E

10.9x

On $2.38 EPS, 4 qtrs

Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

What First BanCorp (Puerto Rico) does

First BanCorp is the holding company for FirstBank, a bank chartered in Puerto Rico. It offers full-service commercial and consumer banking, mortgage banking, automobile financing, insurance agency services and other financial products in Puerto Rico, the U.S. mainland, the U.S. Virgin Islands and the British Virgin Islands.

FirstBank works from its main office in San Juan, 57 branches in Puerto Rico, eight in the U.S. and British Virgin Islands, and eight in Florida. It also owns Money Express La Financiera, a finance company that makes small loans from 25 offices in Puerto Rico. The company also owns an insurance agency, FirstBank Insurance Agency.

As with other banks, it takes deposits and lends them out, earning the difference between the interest it receives and the interest it pays, called net interest income. It is supervised by Puerto Rico's banking regulator and the FDIC, and the Consumer Financial Protection Bureau regulates its consumer products.

Its biggest risks, as it describes them

Much of its business and credit exposure is concentrated in Puerto Rico, which has faced prolonged economic and fiscal problems.
Changes in interest rates and inflation that squeeze its net interest income.
Deposit outflows and funding pressure after past bank failures and market volatility.
Its credit quality and Puerto Rico government securities can be hurt by Puerto Rico's fiscal condition.
Natural disasters and delays in federal disaster relief to Puerto Rico.

From First BanCorp (Puerto Rico)'s annual report on Form 10-K, filed February 27, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both. Revenue is net of interest expense.

Revenue (left axis)Net income (right axis)

Efficiency ratio and net interest income

Percent of revenue. The efficiency ratio is noninterest expense over revenue.

Efficiency ratioNet interest income share

From fiscal 2016 to 2025, earnings per share grew 19.6% a year and net income 15.6% a year, as buybacks cut the share count by 26%.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Return on equity

Percent. Net income over average equity; tangible equity excludes goodwill, intangibles and preferred stock.

Return on equityReturn on tangible common equity

Balance sheet

Loans and deposits

US$ billions, at each fiscal year end

Loans, netDeposits

Total assets and shareholders' equity

US$ billions, at each fiscal year end. Assets on the left axis, equity on the right.

Total assets (left axis)Equity (right axis)

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Loans, net	10,792	11,292	11,924	12,503	12,876
Deposits	17,785	16,144	16,556	16,871	16,670
Loans to deposits	60.7%	70.0%	72.0%	74.1%	77.2%
Provision for credit losses	−66	28	61	60	86
Provision to average loans	−0.6%	0.2%	0.5%	0.5%	0.7%
Total assets	20,785	18,634	18,910	19,293	19,133
Shareholders' equity	2,102	1,326	1,498	1,669	1,967

US$ millions unless stated, at each fiscal year end.

Cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project First BanCorp (Puerto Rico)'s revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them. Every projected figure is yours: it is not a forecast of ours.

Open First BanCorp (Puerto Rico)'s projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, no insider bought First BanCorp (Puerto Rico) shares on the open market, and 4 insiders sold $2.4 million.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Sep 2, 2026	Roberto R HerenciaDirector	Sold	26,350	$28.48	$750,448	Form 4
Aug 26, 2026	Nayda RiveraEVP, CCO and Chief of Staff	Sold	10,000	$28.19	$281,900	Form 4
Aug 17, 2026	Nayda RiveraEVP, CCO and Chief of Staff	Sold	10,000	$29.59	$295,900	Form 4
Jun 5, 2026	Lilian Diaz-BentoEVP	Sold	8,000	$24.33	$194,640	Form 4
Feb 11, 2026	Roberto R HerenciaDirector	Sold	4,723	$22.63	$106,881	Form 4
Jan 28, 2026	Michael McDonaldEVP	Sold	34,122	$22.11	$754,437	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Compare

Put First BanCorp (Puerto Rico) side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

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First BanCorp (Puerto Rico)	FY25	2.4%	27.5%	19.0%	19.4%	39.7%
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United Bankshares	FY25	19.6%	37.5%	8.9%	14.1%	48.5%	Compare
Hilltop	FY25	7.8%	12.9%	7.6%	8.7%	82.2%	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	673	651	707	766	804	916	986	1,156	1,226	1,255
Revenue growth	−2.0%	−3.3%	8.7%	8.4%	4.9%	13.9%	7.6%	17.3%	6.0%	2.4%
Net interest income	484	492	525	567	600	730	795	797	808	869
Noninterest income	88	62	82	91	111	121	123	133	131	132
Noninterest expense	355	348	358	378	424	489	443	471	487	498
Provision for credit losses	87	144	59	40	171	−66	28	61	60	86
Net income	93	67	202	167	102	281	305	303	299	345
Diluted EPS (US$)	0.43	0.30	0.92	0.76	0.46	1.31	1.59	1.71	1.81	2.15
Diluted shares (millions)	216	216	217	217	218	211	192	177	165	161
Payouts
Dividends paid	0	0	6	30	43	65	88	100	106	116
Share buybacks	1	2	3	2	0	216	278	203	102	154
Balance sheet at fiscal year end
Loans, net	8,681	8,619	8,662	8,847	11,391	10,792	11,292	11,924	12,503	12,876
Deposits	8,831	9,023	8,995	9,348	15,317	17,785	16,144	16,556	16,871	16,670
Total assets	11,922	12,261	12,244	12,611	18,793	20,785	18,634	18,910	19,293	19,133
Shareholders' equity	1,786	1,869	2,045	2,228	2,275	2,102	1,326	1,498	1,669	1,967
Ratios
Return on equity	5.4%	3.7%	10.3%	7.8%	4.5%	12.8%	17.8%	21.5%	18.9%	19.0%
Return on tangible common equity	5.5%	3.6%	10.5%	8.0%	4.6%	13.0%	18.2%	22.1%	19.3%	19.4%
Return on assets	0.8%	0.6%	1.6%	1.4%	0.7%	1.4%	1.6%	1.6%	1.6%	1.8%
Efficiency ratio	52.7%	53.4%	50.6%	49.4%	52.8%	53.4%	45.0%	40.8%	39.7%	39.7%

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: First BanCorp (Puerto Rico)'s Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with First BanCorp (Puerto Rico).