First BanCorp Q4 2022 Earnings Report
Key Takeaways
First BanCorp reported a net income of $73.2 million, or $0.40 per diluted share, for Q4 2022. The loan portfolio grew by $254.3 million, and the net interest margin expanded by 6 basis points. The efficiency ratio was 48.02%. Core deposits decreased by $314.9 million.
Net income was $73.2 million, or $0.40 per diluted share.
Pre-tax, pre-provision income reached $122.2 million.
Loan portfolio grew by $254.3 million, driven by commercial and consumer business segments.
Net interest margin expanded by 6 basis points.
First BanCorp
First BanCorp
First BanCorp Revenue by Geographic Location
Forward Guidance
First BanCorp. remains vigilant to changing global economic conditions and the effect that restrictive monetary policies may continue to have on the overall inflationary environment. The organization believes that it has ample experience navigating uncertainty and is well equipped to manage rising market challenges going into the next cycle. The company is highly encouraged by the growth prospects in its main market which should continue to benefit from rebuilding activity over the next few years.
Revenue & Expenses
Visualization of income flow from segment revenue to net income