---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-23-000604"
form_type: "8-K"
ticker: "FBP"
cik: "0001057706"
company_name: "FIRST BANCORP /PR/"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T15:22:06.742646+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First BanCorp Q1 net income $70.7M ($0.39 EPS); net interest margin 4.34%; pauses share buybacks

## Summary
- Net income $70.7M ($0.39 diluted EPS) vs $73.2M ($0.40) in Q4 2022 and $82.6M ($0.41) in Q1 2022.
- Net interest income $200.9M, down $4.7M QoQ; net interest margin 4.34% vs 4.37%.
- Total loans grew $28M to $11.6B; core deposits (ex-brokered/govt) fell $142.7M to $13.1B.
- Borrowings increased $347.8M to $1.3B as precautionary liquidity measure; core liquidity $3.2B (16.77% of assets).
- Repurchased $50M in shares in Q1; raised quarterly dividend to $0.14/share; paused buybacks in Q2, expects to resume H2 2023.

## SEC filing metadata
- accession: 0001157523-23-000604
- form_type: 8-K
- ticker: FBP
- cik: 0001057706
- company_name: FIRST BANCORP /PR/
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1057706/000115752323000604/0001157523-23-000604-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1057706/000115752323000604/a53386980.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-23-000604
- JSON: https://secwatch.observer/filing/0001157523-23-000604.json
- Plain text: https://secwatch.observer/filing/0001157523-23-000604.txt

## Key facts
- Earnings Releases
  FIRST BANCORP /PR/ reported the quarter ended March 31, 2023 results: net income $70.7 million, EPS $0.39 per diluted share.
  - Period: the quarter ended March 31, 2023
  - Net income: $70.7 million
  - EPS: $0.39 per diluted share
  - Result: reported results
  source text: Net income of $70.7 million, or $0.39 per diluted share, for the first quarter of 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1057706/000115752323000604/0001157523-23-000604-index.htm

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