First BanCorp delivered a strong Q1 2026 performance with net income up 21% YoY, driven by record pre-provision income and disciplined capital deployment.
- Net income reached $89 million ($0.57 per share), marking a 21% YoY increase; all-time high pre-tax pre-provision income of $131 million, up 5% from last year.
- Return on average assets improved to 1.89%, maintaining a consistent above 1.5% for 17 quarters.
- Total loans declined slightly to $13.1 billion amid normal seasonality, while core deposits grew 4.9% QoQ, supporting a resilient funding base.
- Asset quality remains solid with record low NPAs and a 24% QoQ drop in delinquencies; charge-offs stayed stable.
- Capital position remains strong at 16.9% CET1, with a 92% payout ratio via buybacks and dividends, emphasizing capital flexibility.
Community Discussion