---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-021197"
form_type: "8-K"
ticker: "FBP"
cik: "0001057706"
company_name: "FIRST BANCORP /PR/"
filed_at: "2024-04-23T23:59:59+00:00"
generated_at: "2026-06-03T11:15:12.619432+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# First BanCorp reports Q1 2024 net income of $73.5M, EPS $0.44

## Summary
- Net income $73.5M ($0.44 diluted EPS) vs $79.5M ($0.46) in Q4 2023 and $70.7M ($0.39) in Q1 2023.
- Net interest income $196.5M, NIM 4.16%; provision for credit losses $12.2M down from $18.8M prior quarter.
- Loan portfolio grew for ninth consecutive quarter; core deposit balances stabilized.
- Efficiency ratio improved to 52.46% from 54.98% in Q4 2023.

## SEC filing metadata
- accession: 0001140361-24-021197
- form_type: 8-K
- ticker: FBP
- cik: 0001057706
- company_name: FIRST BANCORP /PR/
- filed_at: 2024-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1057706/000114036124021197/0001140361-24-021197-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1057706/000114036124021197/ef20027430_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-021197
- JSON: https://secwatch.observer/filing/0001140361-24-021197.json
- Plain text: https://secwatch.observer/filing/0001140361-24-021197.txt

## Key facts
- Earnings Releases
  FIRST BANCORP /PR/ reported the quarter ended March 31, 2024 results: net income $73.5 million, or $0.44 per diluted share.
  - Period: the quarter ended March 31, 2024
  - Net income: $73.5 million, or $0.44 per diluted share
  - Result: reported results
  source text: On April 23, 2024, First BanCorp. (the “Corporation”), the bank holding company for FirstBank Puerto Rico (“FirstBank” or the “Bank”), issued a press release announcing its unaudited results of operations for the quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1057706/000114036124021197/0001140361-24-021197-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.