First BanCorp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 20, 2023 at 07:00 am EDT
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First BanCorp. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 199.73 million compared to USD 207.91 million a year ago. Net income was USD 82.02 million compared to USD 74.6 million a year ago. Basic earnings per share from continuing operations was USD 0.47 compared to USD 0.4 a year ago. Diluted earnings per share from continuing operations was USD 0.46 compared to USD 0.4 a year ago.
For the nine months, net interest income was USD 600.43 million compared to USD 589.72 million a year ago. Net income was USD 223.38 million compared to USD 231.9 million a year ago. Basic earnings per share from continuing operations was USD 1.25 compared to USD 1.2 a year ago. Diluted earnings per share from continuing operations was USD 1.25 compared to USD 1.19 a year ago.
First BanCorp. is a financial holding company. As of December 31, 2016, the Company controlled two subsidiaries: FirstBank Puerto Rico (the Bank or FirstBank) and FirstBank Insurance Agency, Inc. (FirstBank Insurance Agency). It operates in six segments: Commercial and Corporate Banking, which consists of lending and other services; Consumer (Retail) Banking, which consists of consumer lending and deposit-taking activities; Mortgage Banking, which consists of the origination, sale, and servicing of a range of residential mortgage loan products and related hedging activities; Treasury and Investments, which consists of treasury and investment management functions; United States Operations, which consists of all banking activities conducted by FirstBank on the United States mainland, and Virgin Islands Operations, which consists of banking activities conducted by FirstBank in the United States Virgin Islands and British Virgin Islands, including retail and commercial banking services.
FIRST BANCORP. 
