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Sep 30, 2023
First BanCorp Q3 2023 Earnings Report
Reported net income and strong return on average assets, driven by loan growth and disciplined expense management.
Key Takeaways
First BanCorp reported a net income of $82.0 million for Q3 2023, with a return on average assets of 1.72%. The results were driven by loan growth, disciplined expense management and positive economic trends in the main market, Puerto Rico.
Net income reached $82.0 million, with diluted earnings per share of $0.46.
Return on average assets was strong at 1.72%.
Total loans increased by 1.5% during the quarter.
The corporation expects to continue repurchasing shares of common stock during the fourth quarter under the 2023 capital plan authorization of $225 million.
Revenue by Geographic Location
Forward Guidance
First BanCorp. expects to continue repurchasing shares of common stock during the fourth quarter under the 2023 capital plan authorization of $225 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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