Board Change • May 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. Independent Director Patricia Eaves was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Mar 26
First BanCorp., Annual General Meeting, May 06, 2026 First BanCorp., Annual General Meeting, May 06, 2026. Duyuru • Mar 17
First BanCorp. to Report Q1, 2026 Results on Apr 22, 2026 First BanCorp. announced that they will report Q1, 2026 results Pre-Market on Apr 22, 2026 Duyuru • Jan 27
First BanCorp. Announces Net Charge Off for the Fourth Quarter Ended December 31, 2025 First BanCorp. announced net charge off for the fourth quarter ended December 31, 2025. Net charge-offs were $20.4 million for the fourth quarter of 2025, or an annualized 0.63% of average loans, compared to $19.9 million, or an annualized 0.62% of average loans, in the third quarter of 2025. The $0.5 million increase in net charge-offs was driven by a $0.3 million increase in consumer loans and finance leases net charge-offs, mainly in the unsecured loan portfolio, and a $0.3 million recovery associated with a construction loan in the Florida region during the third quarter of 2025. Duyuru • Jan 26
First BanCorp. Increases Quarterly Cash Dividend on Common Stock, Payable on March 13, 2026 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share, which represents an increase of 11% or $0.02 per common share compared to its most recent dividend paid in December 2025. The dividend is payable on March 13, 2026 to shareholders of record at the close of business on February 26, 2026. Duyuru • Dec 23
First BanCorp. to Report Q4, 2025 Results on Jan 27, 2026 First BanCorp. announced that they will report Q4, 2025 results Pre-Market on Jan 27, 2026 Duyuru • Sep 24
First BanCorp. to Report Q3, 2025 Results on Oct 23, 2025 First BanCorp. announced that they will report Q3, 2025 results on Oct 23, 2025 Duyuru • Jul 22
First BanCorp. Declares Quarterly Cash Dividend on Common Stock, Payable on September 12, 2025 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.18 per share on its outstanding common stock. The dividend is payable on September 12, 2025 to shareholders of record at the close of business on August 28, 2025. Duyuru • Jun 19
First BanCorp. Announces Executive Changes First BanCorp. announced on June 16, 2025, the corporation announced a strategic reorganization aligned with the Corporation’s corporate succession plan (the strategic reorganization). As part of the Strategic Reorganization, the corporation announced that Mr. Donald Kafka, Executive Vice President and Chief Operating Officer (COO), will retire from his position at the Corporation effective September 15, 2025. In connection with Mr. Kafka’s retirement, the Corporation also announced that Mr. Juan Carlos Pavía, Executive Vice President and Chief Credit Officer, will succeed Mr. Kafka as COO, effective August 1, 2025. As COO, Mr. Pavía will oversee the areas of Banking Operations, Corporate Security, Information Technology, Real Estate, a new Business Transformation Unit, and will also continue to oversee the areas of Credit Risk and Credit Administration. Mr. Kafka will remain an officer of the Corporation and will continue to work closely with Mr. Pavía through September 15, 2025. Mr. Pavía, age 45, joined the Corporation in 2014 as Senior Vice President and Chief Credit Risk Officer. In May 2021, Mr. Pavía was promoted to Executive Vice President and Chief Credit Officer, a position he currently holds. Additionally, Mr. Pavía currently serves on the Board of Managers of the Corporation’s subsidiaries: FB Private Equity Fund LLC, and FB Opportunity Zone Fund LLC, a wholly owned subsidiary of FB Private Equity Fund LLC. Mr. Pavía has over fifteen years of experience within the banking industry, including roles within the credit risk, current expected credit losses, workout, operations and asset-based lending areas. Prior to joining the Corporation, Mr. Pavía held various leadership positions at other financial institutions in Puerto Rico and in the Government of Puerto Rico. Duyuru • Jun 10
First BanCorp. to Report Q2, 2025 Results on Jul 22, 2025 First BanCorp. announced that they will report Q2, 2025 results Pre-Market on Jul 22, 2025 Duyuru • Apr 11
First BanCorp., Annual General Meeting, May 21, 2025 First BanCorp., Annual General Meeting, May 21, 2025. Duyuru • Apr 04
First BanCorp. to Report Q1, 2025 Results on Apr 24, 2025 First BanCorp. announced that they will report Q1, 2025 results Pre-Market on Apr 24, 2025 Duyuru • Jan 23
First BanCorp. Announces Net Charge Off for the Fourth Quarter Ended December 31, 2024 First BanCorp. announced net charge off for the fourth quarter ended December 31, 2024. For the period, Company reported Net charge-offs were $24.6 million or an annualized 0.78% of average loans, compared to $24.0 million, or an annualized 0.78% of average loans, in the third quarter of 2024. Duyuru • Jan 22
First BanCorp. Announces Quarterly Cash Dividend, Payable on March 7, 2025 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.18 per share, which represents an increase of 13% or $0.02 per common share compared to its most recent dividend paid in December 2024. The dividend is payable on March 7, 2025 to shareholders of record at the close of business on February 21, 2025. Duyuru • Jan 09
First BanCorp. to Report Q4, 2024 Results on Jan 23, 2025 First BanCorp. announced that they will report Q4, 2024 results Pre-Market on Jan 23, 2025 Recent Insider Transactions • Nov 12
Independent Chairman recently sold €2.1m worth of stock On the 6th of November, Roberto Herencia sold around 100k shares on-market at roughly €20.67 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Roberto's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €20.60, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 88% over the past three years. Declared Dividend • Nov 04
Third quarter dividend of US$0.16 announced Shareholders will receive a dividend of US$0.16. Ex-date: 29th November 2024 Payment date: 13th December 2024 Dividend yield will be 3.4%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (34% payout ratio) and is expected to be well covered in 3 years' time (33% forecast payout ratio). The dividend has increased by an average of 32% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 12% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Oct 31
First BanCorp. Declares Quarterly Cash Dividend on Common Stock, Payable on December 13, 2024 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share on its outstanding common stock. The dividend is payable on December 13, 2024 to shareholders of record at the close of business on November 29, 2024. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: US$0.45 (vs US$0.47 in 3Q 2023) Third quarter 2024 results: EPS: US$0.45 (down from US$0.47 in 3Q 2023). Revenue: US$219.3m (down 2.8% from 3Q 2023). Net income: US$73.7m (down 10% from 3Q 2023). Profit margin: 34% (down from 36% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Duyuru • Oct 23
First BanCorp. Announces Net Charge-Offs for the Third Quarter Ended September 30, 2024 First BanCorp. announced net charge-offs for the third quarter ended September 30, 2024. For the quarter, the company reported net charge-offs of $24,006,000 against $14,086,000 a year ago. New Risk • Oct 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (€3.9m sold). Duyuru • Oct 01
First BanCorp. to Report Q3, 2024 Results on Oct 23, 2024 First BanCorp. announced that they will report Q3, 2024 results Pre-Market on Oct 23, 2024 Upcoming Dividend • Aug 22
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 13 September 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.5%). Declared Dividend • Jul 29
Second quarter dividend of US$0.16 announced Shareholders will receive a dividend of US$0.16. Ex-date: 29th August 2024 Payment date: 13th September 2024 Dividend yield will be 2.9%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 32% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 3.7% over the next year, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Jul 26
Executive VP & COO recently sold €1.0m worth of stock On the 24th of July, Donald Kafka sold around 50k shares on-market at roughly €20.10 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €1.3m. Donald has been a net seller over the last 12 months, reducing personal holdings by €2.0m. Reported Earnings • Jul 24
Second quarter 2024 earnings released: EPS: US$0.46 (vs US$0.40 in 2Q 2023) Second quarter 2024 results: EPS: US$0.46 (up from US$0.40 in 2Q 2023). Revenue: US$220.1m (up 4.7% from 2Q 2023). Net income: US$75.8m (up 7.3% from 2Q 2023). Profit margin: 35% (in line with 2Q 2023). Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jun 19
First BanCorp. to Report Q2, 2024 Results on Jul 23, 2024 First BanCorp. announced that they will report Q2, 2024 results Pre-Market on Jul 23, 2024 Upcoming Dividend • May 23
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 30 May 2024. Payment date: 14 June 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.3%). Recent Insider Transactions • May 05
Executive VP & CFO recently sold €1.3m worth of stock On the 1st of May, Orlando Berges-González sold around 75k shares on-market at roughly €16.78 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Orlando's only on-market trade for the last 12 months. Declared Dividend • Apr 29
First quarter dividend of US$0.16 announced Shareholders will receive a dividend of US$0.16. Ex-date: 30th May 2024 Payment date: 14th June 2024 Dividend yield will be 3.4%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 40% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 3.3% over the next year, which should provide support to the dividend and adequate earnings cover. Duyuru • Apr 27
First BanCorp. Declares Quarterly Cash Dividend on Common Stock, Payable on June 14, 2024 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share on its outstanding common stock. The dividend is payable on June 14, 2024 to shareholders of record at the close of business on May 30, 2024. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: US$0.44 (vs US$0.39 in 1Q 2023) First quarter 2024 results: EPS: US$0.44 (up from US$0.39 in 1Q 2023). Revenue: US$218.3m (flat on 1Q 2023). Net income: US$73.5m (up 3.9% from 1Q 2023). Profit margin: 34% (up from 32% in 1Q 2023). Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 17% per year. Duyuru • Apr 23
First BanCorp. Announces Net Charge Offs for the Quarter Ended March 31, 2024 First BanCorp. announced net charge offs for the quarter ended March 31, 2024. Net charge-offs were $11.2 million for the first quarter of 2024, or an annualized 0.37% of average loans, compared to $20.8 million, or an annualized 0.69% of average loans, in the fourth quarter of 2023. Duyuru • Apr 09
First BanCorp., Annual General Meeting, May 23, 2024 First BanCorp., Annual General Meeting, May 23, 2024, at 10:00 Atlantic Standard Time. Agenda: To consider the election of the nine directors named in the accompanying Proxy Statement; to consider and approve on a non-binding basis the 2023 compensation of First BanCorp’s named executive officers; to consider and to ratify the appointment of Crowe LLP as independent registered public accounting firm for our 2024 fiscal year; and to consider other matters. Duyuru • Apr 03
First BanCorp. to Report Q1, 2024 Results on Apr 23, 2024 First BanCorp. announced that they will report Q1, 2024 results Pre-Market on Apr 23, 2024 Recent Insider Transactions • Mar 08
President recently sold €790k worth of stock On the 5th of March, Aurelio Aleman-Bermudez sold around 50k shares on-market at roughly €15.80 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €921k. Aurelio has been a net seller over the last 12 months, reducing personal holdings by €1.5m. Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: US$1.72 (vs US$1.60 in FY 2022) Full year 2023 results: EPS: US$1.72. Revenue: US$863.3m (down 3.1% from FY 2022). Net income: US$302.9m (flat on FY 2022). Profit margin: 35% (in line with FY 2022). Net interest margin (NIM): 4.33% (up from 4.29% in FY 2022). Cost-to-income ratio: 50.7% (up from 48.3% in FY 2022). Non-performing loans: 0.69% (down from 0.78% in FY 2022). Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Upcoming Dividend • Feb 15
Upcoming dividend of US$0.16 per share at 3.4% yield Eligible shareholders must have bought the stock before 22 February 2024. Payment date: 08 March 2024. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.7%). Declared Dividend • Feb 12
Fourth quarter dividend of US$0.16 announced Shareholders will receive a dividend of US$0.16. Ex-date: 22nd February 2024 Payment date: 8th March 2024 Dividend yield will be 3.6%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (33% payout ratio) and is expected to be well covered in 3 years' time (31% forecast payout ratio). The dividend has increased by an average of 36% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 6.1% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Feb 09
First BanCorp. Increases Quarterly Cash Dividend on Common Stock, Payable on March 8, 2024 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share, which represents an increase of 14% or $0.02 per common share compared to its most recent dividend paid in December 2023. The dividend is payable on March 8, 2024 to shareholders of record at the close of business on February 23, 2024. The increased quarterly dividend level equates to an annualized dividend rate of $0.64 per common share. Reported Earnings • Jan 25
Full year 2023 earnings released: EPS: US$1.72 (vs US$1.60 in FY 2022) Full year 2023 results: EPS: US$1.72. Revenue: US$868.9m (down 2.4% from FY 2022). Net income: US$302.9m (flat on FY 2022). Profit margin: 35% (in line with FY 2022). Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Banks industry in Europe. Duyuru • Jan 24
First BanCorp. Reports Net Charge-Off for the Fourth Quarter Ended December 31, 2023 First BanCorp. reported net charge-off for the fourth quarter ended December 31, 2023. For the quarter, the company reported net charge-offs of $20,747,000 compared to $13,046,000 a year ago. Duyuru • Jan 09
First BanCorp. to Report Q4, 2023 Results on Jan 24, 2024 First BanCorp. announced that they will report Q4, 2023 results Pre-Market on Jan 24, 2024 Recent Insider Transactions • Dec 08
Executive VP & COO recently sold €951k worth of stock On the 5th of December, Donald Kafka sold around 65k shares on-market at roughly €14.62 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Donald's only on-market trade for the last 12 months. Upcoming Dividend • Nov 15
Upcoming dividend of US$0.14 per share at 3.7% yield Eligible shareholders must have bought the stock before 22 November 2023. Payment date: 08 December 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.4%). Duyuru • Nov 01
First BanCorp. Declares Quarterly Cash Dividend on Common Stock, Payable on December 8, 2023 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.14 per share on its outstanding common stock. The dividend is payable on December 8, 2023 to shareholders of record at the close of business on November 24, 2023. Board Change • Nov 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Independent Director Patricia Eaves was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 21
Third quarter 2023 earnings released: EPS: US$0.47 (vs US$0.40 in 3Q 2022) Third quarter 2023 results: EPS: US$0.47 (up from US$0.40 in 3Q 2022). Revenue: US$225.6m (up 1.7% from 3Q 2022). Net income: US$82.0m (up 9.9% from 3Q 2022). Profit margin: 36% (up from 34% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 35% per year whereas the company’s share price has increased by 32% per year. Duyuru • Oct 06
First BanCorp. to Report Q3, 2023 Results on Oct 20, 2023 First BanCorp. announced that they will report Q3, 2023 results Pre-Market on Oct 20, 2023 Upcoming Dividend • Aug 16
Upcoming dividend of US$0.14 per share at 3.8% yield Eligible shareholders must have bought the stock before 23 August 2023. Payment date: 08 September 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.0%). Duyuru • Jul 29
First BanCorp. Reports Net Charge Off for the Second Quarter Ended June 30, 2023 First BanCorp. reported net charge off for the second quarter ended June 30, 2023. For the quarter, the company reported Net charge-offs of $19.279 million against $5.960 million a year ago. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: US$0.40 (vs US$0.38 in 2Q 2022) Second quarter 2023 results: EPS: US$0.40. Revenue: US$212.3m (down 2.2% from 2Q 2022). Net income: US$70.7m (down 5.4% from 2Q 2022). Profit margin: 33% (down from 34% in 2Q 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Banks industry in Europe. Duyuru • Jul 08
First BanCorp. to Report Q2, 2023 Results on Jul 27, 2023 First BanCorp. announced that they will report Q2, 2023 results on Jul 27, 2023 Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €12.10, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 155% over the past three years. Upcoming Dividend • May 17
Upcoming dividend of US$0.14 per share at 5.1% yield Eligible shareholders must have bought the stock before 23 May 2023. Payment date: 09 June 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 5.1%. Within top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.2%). Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: US$0.39 (vs US$0.42 in 1Q 2022) First quarter 2023 results: EPS: US$0.39 (down from US$0.42 in 1Q 2022). Revenue: US$217.9m (down 6.2% from 1Q 2022). Net income: US$70.7m (down 14% from 1Q 2022). Profit margin: 32% (down from 36% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 16
Upcoming dividend of US$0.14 per share at 3.9% yield Eligible shareholders must have bought the stock before 23 February 2023. Payment date: 10 March 2023. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.3%). Duyuru • Feb 10
First BanCorp. Declares Quarterly Cash Dividend, Payable on March 10, 2023 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.14 per share, which represents an increase of 17% or $0.02 per common share compared to its most recent dividend paid in December 2022. The dividend is payable on March 10, 2023 to shareholders of record at the close of business on February 24, 2023. Reported Earnings • Jan 29
Full year 2022 earnings released: EPS: US$1.60 (vs US$1.32 in FY 2021) Full year 2022 results: EPS: US$1.60 (up from US$1.32 in FY 2021). Revenue: US$890.7m (down 2.8% from FY 2021). Net income: US$305.1m (up 10.0% from FY 2021). Profit margin: 34% (up from 30% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 28
First BanCorp. Reports Net Charge-Off for the Fourth Quarter Ended December 31, 2022 First BanCorp. reported net charge-off for the fourth quarter ended December 31, 2022. Net charge-offs were $13.0 million for the fourth quarter of 2022 compared to $8.6 million in the third quarter of 2022. Duyuru • Jan 11
First BanCorp. to Report Q4, 2022 Results on Jan 27, 2023 First BanCorp. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Jan 27, 2023 Recent Insider Transactions • Nov 16
President recently sold €608k worth of stock On the 9th of November, Aurelio Alemán-Bermudez sold around 40k shares on-market at roughly €15.21 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Aurelio has been a net seller over the last 12 months, reducing personal holdings by €2.5m. Recent Insider Transactions • Nov 11
President recently sold €608k worth of stock On the 9th of November, Aurelio Alemán-Bermudez sold around 40k shares on-market at roughly €15.21 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Aurelio has been a net seller over the last 12 months, reducing personal holdings by €2.5m. Duyuru • Oct 29
First BanCorp. Declares Quarterly Cash Dividend on Its Outstanding Common Stock, Payable on December 9, 2022 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.12 per share on its outstanding common stock. The dividend is payable on December 9, 2022 to shareholders of record at the close of business on November 25, 2022. Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: US$0.40 (vs US$0.36 in 3Q 2021) Third quarter 2022 results: EPS: US$0.40. Revenue: US$221.8m (down 2.2% from 3Q 2021). Net income: US$74.6m (flat on 3Q 2021). Profit margin: 34% (in line with 3Q 2021). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in Europe. Duyuru • Oct 05
First BanCorp. to Report Q3, 2022 Results on Oct 25, 2022 First BanCorp. announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Oct 25, 2022 Upcoming Dividend • Aug 17
Upcoming dividend of US$0.12 per share Eligible shareholders must have bought the stock before 24 August 2022. Payment date: 09 September 2022. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (6.5%). Recent Insider Transactions • Aug 13
Executive VP & CFO recently sold €755k worth of stock On the 10th of August, Orlando Berges-González sold around 50k shares on-market at roughly €15.11 per share. In the last 3 months, there was an even bigger sale from another insider worth €1.3m. This was Orlando's only on-market trade for the last 12 months. Recent Insider Transactions • Jul 29
Executive VP & Chief Risk Officer recently sold €442k worth of stock On the 27th of July, Nayda Rivera-Batista sold around 30k shares on-market at roughly €14.74 per share. In the last 3 months, there was an even bigger sale from another insider worth €1.3m. Insiders have been net sellers, collectively disposing of €3.0m more than they bought in the last 12 months. Reported Earnings • Jul 23
Second quarter 2022 earnings released: EPS: US$0.38 (vs US$0.33 in 2Q 2021) Second quarter 2022 results: EPS: US$0.38 (up from US$0.33 in 2Q 2021). Revenue: US$217.1m (down 9.8% from 2Q 2021). Net income: US$74.7m (up 6.9% from 2Q 2021). Profit margin: 34% (up from 29% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 6.1%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 23
First BanCorp. Reports Net Charge-Offs for the Second Quarter Ended June 30, 2022 First BanCorp. reported net charge-offs for the second quarter ended June 30, 2022. For the quarter, the company reported net charge-offs of $5,960,000 against $7,676,000 a year ago. Duyuru • Jul 22
First BanCorp. Declares Quarterly Cash Dividend on Common Stock, Payable on September 9, 2022 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.12 per share on its outstanding common stock. The dividend is payable on September 9, 2022 to shareholders of record at the close of business on August 25, 2022. Duyuru • Jul 07
First BanCorp. to Report Q2, 2022 Results on Jul 22, 2022 First BanCorp. announced that they will report Q2, 2022 results at 9:30 AM, US Eastern Standard Time on Jul 22, 2022 Recent Insider Transactions • May 20
Independent Chairman recently sold €1.3m worth of stock On the 17th of May, Roberto Herencia sold around 100k shares on-market at roughly €13.40 per share. This was the largest sale by an insider in the last 3 months. This was Roberto's only on-market trade for the last 12 months. Upcoming Dividend • May 17
Upcoming dividend of US$0.12 per share Eligible shareholders must have bought the stock before 24 May 2022. Payment date: 10 June 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (6.6%). Reported Earnings • Apr 29
First quarter 2022 earnings released First quarter 2022 results: Revenue: US$232.3m (up 4.4% from 1Q 2021). Net income: US$82.6m (up 37% from 1Q 2021). Profit margin: 36% (up from 27% in 1Q 2021). The increase in margin was primarily driven by lower expenses. Over the next year, revenue is expected to shrink by 1.5% compared to a 8.5% growth forecast for the industry in Germany. Duyuru • Apr 09
First BanCorp. to Report Q1, 2022 Results on Apr 28, 2022 First BanCorp. announced that they will report Q1, 2022 results Pre-Market on Apr 28, 2022 Duyuru • Apr 06
First BanCorp., Annual General Meeting, May 20, 2022 First BanCorp., Annual General Meeting, May 20, 2022, at 10:00 Atlantic Standard Time. Agenda: To elect the nine (9) directors named in the accompanying Proxy Statement; to approve on a non-binding basis the 2021 compensation of First BanCorp's named executive officers (the NEOs"); to ratify the appointment of Crowe LLP as our independent registered public accounting firm for our 2022 fiscal year; and to discuss other matters (if any). Upcoming Dividend • Feb 17
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 24 February 2022. Payment date: 11 March 2022. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (4.3%). Recent Insider Transactions • Feb 13
Executive VP & Chief Risk Officer recently sold €265k worth of stock On the 8th of February, Nayda Rivera-Batista sold around 20k shares on-market at roughly €13.27 per share. In the last 3 months, there was an even bigger sale from another insider worth €845k. Insiders have been net sellers, collectively disposing of €5.2m more than they bought in the last 12 months. Duyuru • Feb 11
First BanCorp Declares Quarterly Cash Dividend, Payable on March 11, 2022 First BanCorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share on its outstanding common stock. The dividend is payable on March 11, 2022 to shareholders of record at the close of business on February 25, 2022.