First BanCorp. (NYSE: FBP) reported unaudited financial results for the quarter ended September 30, 2026, filing an -K with the SEC on October 22, 2026. The bank holding company for FirstBank Puerto Rico announced net income of $96.1 million, or $0.63 per diluted share, for the third quarter of 2026. This figure compares to $96.1 million, or $0.62 per diluted share, for the second quarter of 2026, and $100.5 million, or $0.63 per diluted share, for the third quarter of 2025.
For the first nine months of 2026, the company reported net income of $281.0 million, compared to $257.8 million for the same period in 2025. The company’s President and Chief Executive Officer, Aurelio Alemán, highlighted a return on average assets of 1.98% and a return on average equity of 19.5% for the quarter. Total loans increased by $108.3 million to $13.4 billion, driven by growth in commercial and industrial loans. Core deposits, excluding brokered and government deposits, increased by $120.4 million to $13.4 billion.
Asset quality metrics showed an allowance for credit losses coverage ratio of 1.81% and an annualized net charge-offs to average loans ratio of 0.55%. Non-performing assets increased slightly to $114.1 million, driven by a $1.6 million increase in nonaccrual loans. The company’s liquidity position included $462.7 million in cash and cash equivalents, $2.1 billion in free high-quality liquid securities, and $1.1 billion in available lending capacity at the Federal Home Loan Bank.
Regarding capital management, the company repurchased $50.0 million in common stock and declared $30.4 million in dividends during the quarter. The company’s Board of Directors approved a new $350 million stock repurchase program and a 25% increase in the common stock dividend. As of September 30, 2026, the company’s estimated total capital, common equity tier 1, tier 1 capital, and leverage ratios were 18.16%, 16.91%, 16.91%, and 11.71%, respectively.
