---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-23-001169"
form_type: "8-K"
ticker: "FBP"
cik: "0001057706"
company_name: "FIRST BANCORP /PR/"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-12T23:39:06.456633+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First BanCorp Q2 net income $70.7M flat QoQ; announces $225M share repurchase program

## Summary
- Net income $70.7M ($0.39 diluted EPS), consistent with Q1; ROAA 1.51% vs 1.55% prior quarter.
- Net interest margin 4.23%, down from 4.34% QoQ, reflecting higher deposit costs; provision increased to $22.2M from $15.5M.
- Total loans grew $140.4M to $11.7B; core deposits (ex-brokered & gov't) decreased $104.3M.
- Board approved new $225M share repurchase program to be executed by Q3 2024; also resumed prior $75M authorization.
- Non-performing assets down $7.9M to $121.1M; capital ratios well above 'well capitalized' thresholds.

## SEC filing metadata
- accession: 0001157523-23-001169
- form_type: 8-K
- ticker: FBP
- cik: 0001057706
- company_name: FIRST BANCORP /PR/
- filed_at: 2023-07-27T23:59:59+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/1057706/000115752323001169/0001157523-23-001169-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1057706/000115752323001169/a53487339.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-23-001169
- JSON: https://secwatch.observer/filing/0001157523-23-001169.json
- Plain text: https://secwatch.observer/filing/0001157523-23-001169.txt

## Key facts
- Earnings Releases
  FIRST BANCORP /PR/ reported the quarter ended June 30, 2023 results: net income $70.7 million, EPS $0.39 per diluted share.
  - Period: the quarter ended June 30, 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 second quarter of 2023, consistent with the first quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1057706/000115752323001169/0001157523-23-001169-index.htm

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