---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-015326"
form_type: "8-K"
ticker: "FBP"
cik: "0001057706"
company_name: "FIRST BANCORP /PR/"
filed_at: "2025-04-24T23:59:59+00:00"
generated_at: "2026-05-23T06:38:11.530856+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-25-015326
- form_type: 8-K
- ticker: FBP
- cik: 0001057706
- company_name: FIRST BANCORP /PR/
- filed_at: 2025-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1057706/000114036125015326/0001140361-25-015326-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1057706/000114036125015326/ef20047827_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-015326
- JSON: https://secwatch.observer/filing/0001140361-25-015326.json
- Plain text: https://secwatch.observer/filing/0001140361-25-015326.txt

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