---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-22-000496"
form_type: "8-K"
ticker: "FBP"
cik: "0001057706"
company_name: "FIRST BANCORP /PR/"
filed_at: "2022-04-28T23:59:59+00:00"
generated_at: "2026-06-26T03:03:56.883304+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# First BanCorp Q1 2022 net income $82.6M ($0.41 EPS); new $350M buyback, 20% dividend increase

## Summary
- Net income $82.6M ($0.41 diluted EPS) vs Q4 2021 $73.6M ($0.35); pre-tax pre-provision income record $111.8M.
- Net interest margin expanded to 3.81% from 3.61% on lower MBS premium amortization and reduced long-term debt.
- Loan growth inflection: total loans $11.1B (+$29.8M QoQ); commercial/construction ex-PPP up $91M, consumer up $88M.
- Board approved $350M stock repurchase program over next 4 quarters; quarterly dividend increased 20% to $0.12/share.
- Non-performing assets declined to $156.5M; annualized net charge-offs 0.24% (vs 0.26% prior quarter).

## SEC filing metadata
- accession: 0001157523-22-000496
- form_type: 8-K
- ticker: FBP
- cik: 0001057706
- company_name: FIRST BANCORP /PR/
- filed_at: 2022-04-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1057706/000115752322000496/0001157523-22-000496-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1057706/000115752322000496/a52700160.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-22-000496
- JSON: https://secwatch.observer/filing/0001157523-22-000496.json
- Plain text: https://secwatch.observer/filing/0001157523-22-000496.txt

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