First BanCorp reports $58.9M in Y-O-Y net income growth during 1Q21
April 27, 2021
First BanCorp., the parent company of FirstBank Puerto Rico, reported net income of $61.2 million, or $0.28 per diluted share, for the first quarter of 2021, compared to $50.1 million, or $0.23 per diluted share, for the fourth quarter of 2020, and $2.3 million, or $0.01 per diluted share, for the first quarter of 2020. […]
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First Bancorp reports $50.1M in 4Q20, up 38% YoY
February 1, 2021
First Bancorp, parent company for FirstBank Puerto Rico reported net income of $50.1 million, or $0.23 per diluted share, for the fourth quarter of 2020, up 38% from the $36.4 million, or $0.16 per diluted share, reported for the fourth quarter of 2019. Financial results for the fourth quarter of 2020 reflected First Bancorp’s closing […]
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First BanCorp moving forward on integrating Santander operations in Puerto Rico
November 2, 2020
In the 45 days since it completed its acquisition of Banco Santander de Puerto Rico’s assets, First BanCorp has made strides in the integration of both operations, having already completed the conversion of the mortgage business, the insurance agency, and several administrative duties. The plan is to complete the integration process by the end of […]
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First BanCorp. closes acquisition of Santander BanCorp Puerto Rico
September 2, 2020
Nearly a year after announcing its plans, First BanCorp. announced the completion of its acquisition of Santander BanCorp in Puerto Rico. In connection with the acquisition, Santander BanCorp and Banco Santander will be merged into FirstBank, with FirstBank being the surviving entity, officials said. In July, First BanCorp. got the regulatory go-ahead to complete its […]
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First BanCorp. reports $21.3M in 2Q20 net income; $41M for 1H20
July 29, 2020
First BanCorp., parent company of FirstBank Puerto Rico, announced results for the second quarter and six months ended June 30, reporting net income of $21.3 million and $41.2 million for the periods, respectively. The second quarter result reflects a growth from the $2.2 million reported for the three-month period ended March 30, and a 48% […]
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First BanCorp. gets regulatory go-ahead to buy Banco Santander Puerto Rico
July 28, 2020
First BanCorp., the parent company for FirstBank Puerto Rico, announced it has received the requisite regulatory approvals local and federal banking regulatory agencies to wrap up its acquisition of the Puerto Rico operations of Banco Santander Puerto Rico. First BanCorp. got the go-ahead from the Board of Governors of the Federal Reserve System, Federal Deposit […]
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First BanCorp. reports net income of $2.3M in 1Q20
May 1, 2020
First BanCorp., the bank holding company for FirstBank Puerto Rico (reported net income of $2.3 million, or $0.01 per diluted share, for the first quarter of 2020, compared to $36.4 million, or $0.16 per diluted share, for the fourth quarter of 2019, and $43.3 million, or $0.20 per diluted share, for the first quarter of […]
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First BanCorp. reports $167.4M in net income for ’19
January 29, 2020
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $167.4 million, or $0.76 per diluted share for the year ended Dec. 31, 2019, vs $201.6 million, or $0.92 per diluted share for the year ended Dec. 31, 2018. The drop was attributed a one-time $63 million benefit last year, which […]
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Popular Inc. CEO: ‘The 3 local banks that will remain will compete fiercely’
October 24, 2019
If the two banking consolidations currently underway in Puerto Rico materialize, after the dust settles, the trio of big financial institutions that will be left will “compete fiercely” for the local market, Popular Inc. CEO Ignacio Álvarez said. While Oriental is moving forward on its acquisition of Scotiabank’s assets in a deal that should close […]
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First BanCorp. reports $46.3M in net income for 3Q19
October 23, 2019
First BanCorp., parent company of FirstBank Puerto Rico reported net income of $46.3 million, or $0.21 per diluted share, for the third quarter of 2019, compared to $41.3 million, or $0.19 per diluted share, for the second quarter of 2019, and $36.3 million, or $0.16 per diluted share, for the third quarter of 2018. “We […]
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FirstBank CEO says Santander acquisition is ‘transformational for the company’
October 23, 2019
Aurelio Alemán, CEO of First BanCorp., the parent company of FirstBank, explained what the acquisition of Banco Santander’s assets in Puerto Rico will represent for the market and the financial institution he heads. He also went over aspects of the bank’s third quarter results, released a day after the deal was made public.
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First BanCorp. to buy Banco Santander Puerto Rico in $1.1B transaction
October 22, 2019
First BanCorp., parent of FirstBank Puerto Rico, announced the signing of a stock purchase agreement for FirstBank to acquire Spanish bank Banco Santander Puerto Rico in an all-cash transaction worth $1.1 billion. The transaction is subject to receipt of all necessary regulatory approvals and is expected to close in mid-2020. When broken down, the 100% […]
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FirstBank reports net income of $41.3M in 2Q19 as CEO remains optimistic
July 24, 2019
First BanCorp. reported net income of $41.3 million, or $0.19 per diluted share, for the second quarter of 2019, compared to $43.3 million, or $0.20 per diluted share, for the first quarter of 2019, and $31.0 million, or $0.14 per diluted share, for the second quarter of 2018. First BanCorp CEO Aurelio Alemán described the […]
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First BanCorp. reports $43M in 1Q19 net income
April 25, 2019
First BanCorp. reported net income of $43.3 million, or $0.20 per diluted share, for the first quarter ended Mar. 31, 2019, compared to $101.1 million, or $0.46 per diluted share, for the fourth quarter of 2018, and $33.1 million, or $0.15 per diluted share, for the first quarter of 2018. The fourth quarter of 2018 […]
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First BanCorp. reports $201.6M in net income for ’18; $101.1M for 4Q18
January 30, 2019
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $201.6 million, or $0.92 per diluted share, for the year ended Dec. 31, 2018, compared to $67 million, or $0.30 per diluted share, for the year ended Dec. 31, 2017. The financial institution also reported net income of $101.1 million, or […]
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