First BanCorp. (FBP) Earnings
First BanCorp. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $0.54. FBP has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +6.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $0.52 | $0.57 | +9.6% | $259M | -0.0% |
| Jan 27, 2026 | $0.52 | $0.55 | +5.8% | $258M | +0.2% |
| Oct 23, 2025 | $0.49 | $0.51 | +4.8% | $240M | -6.2% |
| Jul 22, 2025 | $0.47 | $0.50 | +6.4% | $31M | -88.0% |
| Apr 24, 2025 | $0.43 | $0.47 | +10.0% | $244M | +0.5% |
| Jan 23, 2025 | $0.41 | $0.46 | +12.2% | $221M | -8.3% |
| Oct 23, 2024 | $0.41 | $0.45 | +9.8% | $229M | -4.0% |
| Jul 23, 2024 | $0.41 | $0.46 | +12.2% | $228M | +12.5% |
| Jan 24, 2024 | $0.36 | $0.49 | +36.1% | $206M | -0.2% |
| Oct 20, 2023 | $0.38 | $0.46 | +21.1% | $232M | +13.0% |
| Jul 27, 2023 | $0.35 | $0.38 | +8.6% | $229M | +13.7% |
| Jan 27, 2023 | $0.40 | $0.40 | +0.0% | $243M | +0.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 22, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Good morning, started 2026 with strong momentum. Core operating trends strong. Balance sheet: total loans declined slightly, core deposits strong. Credit performance key strength. Consistent capital deployment. Business activity and economic conditions stable. Labor market resilient. Consumer auto sales declined 19% from third quarter last year but still above pre-pandemic average. Total loan originations up 6% vs prior year seasonally adjusted. Omnichannel strategy: active digital users growing, digital transaction volumes growing. Spending on AI to improve processes and service. Capital allocation priority unchanged: support organic growth, pay competitive dividend, return excess capital via share repurchase.
Guidance
Sustains loan growth guidance of 3% to 5%. Reiterates quarterly expense base for '26 will be $128 million to $130 million excluding OREO gains or losses. Estimates efficiency ratio will be in range of 50% to 52% considering changes in expense and income components for the year. Expect stability in credit quality and delinquency. AI expected to play key role in strategy. Expect some reduction in time deposits and possible repricing on deposit side based on market rate expectations.
Segment performance
Net income was $89 million or $0.57 per share, up 21% from same quarter last year. Pretax pre-provision income reached an all-time high of $131 million, up 5% from a year ago. Total loans declined slightly to $13.1 billion. Core deposits were strong, with brokered and public funds up 4.9% linked quarter annual basis. Credit performance was strong with charge-offs stable, record low nonperforming assets, and early stage delinquency down 24% from prior quarter. Net payout was 92% during the quarter, ending with a 16.9% CET1 ratio. Net interest income was $221 million, down $1.8 million from prior quarter but up 4% from same quarter last year. Noninterest income was $37.7 million, $3.3 million higher than last quarter. Operating expenses were $127.1 million, in line with prior quarter. Asset quality improved with nonperforming assets down $5.3 million, early delinquency down $34.5 million, allowance for credit losses $3.9 million lower, and net charge-offs $21.1 million.
Risks & headwinds
Potential impact of rising oil costs on inflation and consumer/commercial activity. Geopolitical uncertainty in the Middle East led to increase in qualitative loan loss reserve. Impact of macroeconomic variables on credit quality and loan performance.
Analyst Q&A
Q: Wanted to start on loan growth. What needs to happen for 3% to 5% loan growth?
A: Auto sales and originations to settle, additional commercial growth in Puerto Rico and Florida, and strong mortgage demand.
Q: Securities portfolio strength. How big of opportunity for margin?
A: $600 million in cash flows from securities maturities yielding 1.65% to be replaced with higher-yielding instruments.
Q: Economic backdrop and commercial pipeline. Thoughts on commercial pipeline and consumer impact from inflation?
A: Oil impact on Puerto Rico is less due to low dependence, commercial activity strong, tourism strong, construction active.
Q: Credit quality expectation for rest of year?
A: Expect stability, monitor vintages.
Q: Capital return thoughts. Any thought on increasing capital return?
A: Constant discussion, be opportunistic and consistent.
Q: Florida transactions appetite.
A: Always consider optionality, balance and realistic.
Q: AI use cases.
A: Working with vendors, focus on fraud management, data analytics, cloud-based infrastructure.
Q: Margin and funding costs.
A: Funding costs may have some give on time deposits and broker deposits, but checking/savings accounts have limited movement.
Q: Puerto Rican originations.
A: Some market share gains and overall economic activity.
Q: Florida market.
A: Focus on repositioning branches, important part of franchise.
Q: NIM and funding costs.
A: Funding costs could improve with core deposit growth.
Q: Rate cuts impact.
A: Impact depends on size, includes investment portfolio reinvestment and deposit repricing assumptions.
Q: Military activity impact.
A: Military activity in Puerto Rico leads to more personnel, hotel occupancy, and some construction.
Q: Tech spend.
A: Tech spend related to cloud migration, professional services, outsourcing, expected to sustain for 18-24 months then decline.