secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /PR/ (FBP)
CIK:        0001057706
Form:       8-K
Filed at:   2025-04-24T23:59:59+00:00
Accession:  0001140361-25-015326
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1057706/000114036125015326/0001140361-25-015326-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1057706/000114036125015326/ef20047827_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-015326

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer