First Bancorp (FBP) ( (FBP) ) has released its Q2 earnings. Here is a breakdown of the information First Bancorp (FBP) presented to its investors.
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First BanCorp is a bank holding company for FirstBank Puerto Rico, operating primarily in the financial services sector with a focus on banking services in Puerto Rico, Florida, and the Virgin Islands. The company reported a net income of $80.2 million for the second quarter of 2025, showing an increase from the previous quarter and the same period last year. Key financial highlights include a strong return on average assets, record net interest income, and a 6% growth in core loans, driven by commercial loan production in Puerto Rico and Florida. Despite a reduction in core deposits, the company maintained stable asset quality metrics and lower net charge-offs. Looking ahead, First BanCorp plans to continue its capital deployment strategy, focusing on business growth and shareholder returns, while maintaining a strong balance sheet and diversified business model.