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Mar 31, 2025
First BanCorp Q1 2025 Earnings Report
First BanCorp reported steady earnings growth and strong margin expansion in Q1 2025.
Key Takeaways
First BanCorp delivered another solid quarter with net income of $77.1 million and EPS of $0.47. Improvements in net interest margin and reduced non-interest expenses contributed to higher pre-tax, pre-provision income. The company also enhanced its capital position while maintaining stable credit quality.
Net income reached $77.1 million, driven by margin expansion and lower costs.
Adjusted pre-tax, pre-provision income increased 7% to $125.1 million.
Net interest margin rose to 4.52%, reflecting asset mix improvements.
Capital strength improved with CET1 ratio at 16.62% and TCE ratio at 9.10%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
First BanCorp remains focused on disciplined capital deployment, maintaining strong liquidity, and navigating economic uncertainty while targeting steady profitability.
Positive Outlook
- Continued strength in capital ratios
- Improved net interest margin
- Healthy liquidity position with 18.76% basic liquidity ratio
- Disciplined expense management
- Growth in non-interest-bearing deposits
Challenges Ahead
- Slight decline in total loans driven by commercial payoffs
- Increased provision for credit losses amid CRE outlook concerns
- Early delinquency remains elevated in certain consumer segments
- Exposure to Puerto Rico government debt remains
- Volatility in economic forecasts may impact credit performance
Historical Earnings Impact
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Avg. Return Before/After Earnings
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