First Bancorp Stock Earnings Reports

First BanCorp delivered a strong third quarter 2025: GAAP net income was $100 million ($0.63/share), driven by record net interest income, disciplined expense control and solid loan production. Adjusted (non-GAAP) EPS rose ~13% year-over-year. Loans grew $181 million (5.6% linked-quarter annualized), pushing total loans above $13 billion for the first time since 2010, with commercial and residential lending offsetting a slowdown in auto/consumer originations. Deposits increased modestly (+$140 million in core franchise deposits) though competition and higher pricing for certain government/time deposits pressured funding costs and shifted deposit mix toward time deposits. Credit trends remained stable: consumer charge-offs are normalizing, commercial credit remains healthy, NPAs fell ~7%, and the allowance for credit losses modestly declined (driven by improved residential loss experience). The quarter included several one-time items: a $16.6 million reversal of a valuation allowance on deferred tax assets (due to Puerto Rico tax law changes) and a $2.3 million payroll-tax collection (employee retention credit), partially offset by a $2.8 million valuation allowance on a Virgin Islands OREO litigation. Capital returned to shareholders: $29 million of dividends and $50 million of repurchases executed; the Board authorized an additional $200 million buyback program (expected to be executed opportunistically, with a baseline cadence of ~$50 million per quarter through 2026). Outlook: management guides full-year loan growth nearer to 3%–4% (vs prior mid-single-digit), expects Q4 net interest margin roughly flat (with NII benefits from reinvestment flows partially offset by anticipated Fed rate cuts and deposit beta timing), and anticipates continued focus on organic growth with opportunistic M&A as capital allows.