secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /PR/ (FBP)
CIK:        0001057706
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0001157523-23-000604
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1057706/000115752323000604/0001157523-23-000604-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1057706/000115752323000604/a53386980.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000604

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