secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /PR/ (FBP)
CIK:        0001057706
Form:       8-K
Filed at:   2022-07-22T23:59:59+00:00
Accession:  0001157523-22-000886
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First BanCorp Q2 net income $74.7M, EPS $0.38; record PTPP $118.8M
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- Net income $74.7M ($0.38 diluted share), down from $82.6M ($0.41) in Q1 2022 but up from $70.6M ($0.33) in Q2 2021.
- Record pre-tax pre-provision income of $118.8M, up 6.2% from Q1 and 23% YoY.
- Net interest margin expanded to 4.00% vs 3.81% in Q1; net interest income $196.2M.
- Provision for credit losses was an expense of $10.0M vs a net benefit of $13.8M in prior quarter.
- Repurchased 7.07M shares for $100M under $350M buyback; non-performing assets fell to 0.76% of total assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1057706/000115752322000886/0001157523-22-000886-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1057706/000115752322000886/a52788189.htm
  HTML page:      https://secwatch.observer/filing/0001157523-22-000886

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