First BanCorp Q1 net income $77.1M ($0.47 EPS); NIM expands 19 bps to 4.52%

FIRST BANCORP /PR/

2025-Q1 EPS reported $0.47 revenue$248,131,000

Net income $77.1M ($0.47 diluted EPS) vs $75.7M ($0.46) in Q4 2024; revenue from NII $212.4M.
Net interest margin 4.52% (+19 bps QoQ) driven by better asset mix and lower deposit costs.
Core deposits up $29M to $12.9B; non-interest-bearing deposits rose $69.8M.
Redeemed $50.6M junior subordinated debentures, repurchased $21.8M stock, declared $29.6M dividends.
ACL coverage 1.95% (vs 1.91% QoQ); NPAs up $11.1M to $129.4M on a $12.6M CRE loan.

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