Associated tags: British Virgin Islands, FBP, First BanCorp, Professional Services, Banking, Finance, Holding company, FirstBank (Puerto Rico), Bank
Locations: MAINE, CARIBBEAN, PUERTO RICO, UNITED STATES, NORTH AMERICA, FLORIDA
Retrieved on:
Wednesday, October 18, 2023
Banking,
Asset Management,
Professional Services,
Finance,
Asset,
World Bank Director-General Evaluation,
Sale,
Bank,
ACL,
CRE,
W Holding Company,
Efficiency ratio,
PTPP,
RESULTS,
Growth,
First National Bank,
Common equity,
CECL,
First BanCorp,
First Bancorp,
Investment,
Tangible common equity,
FNLC,
Cryptocurrency,
Holding company,
Rare-earth element,
Beauty salon Unaudited net income for the period was $7.5 million representing an increase of 1.1% from the second quarter of 2023.
Key Points:
- Unaudited net income for the period was $7.5 million representing an increase of 1.1% from the second quarter of 2023.
- Diluted earnings per share were $0.67, level with the prior quarter.
- Our net interest margin declined slightly to begin the third quarter, however, we are encouraged by an uptick in the margin towards the latter part of the quarter.
- The Company's Efficiency Ratio (non-GAAP) was 53.49% in the third quarter of 2023, up from 52.27% in the second quarter of 2023.
Retrieved on:
Thursday, September 28, 2023
The First Bancorp (NASDAQ: FNLC), the parent company of First National Bank, today declared a quarterly cash dividend of 35 cents per share.
Key Points:
- The First Bancorp (NASDAQ: FNLC), the parent company of First National Bank, today declared a quarterly cash dividend of 35 cents per share.
- This third quarter dividend is payable October 20, 2023 to shareholders of record as of October 10, 2023.
- "I'm pleased to announce a third quarter dividend of 35 cents per share", remarked President & Chief Executive Officer, Tony C. McKim.
- "The quarterly dividend is an important part of the value we offer our shareholders.
The dividend is payable on September 8, 2023 to shareholders of record at the close of business on August 24, 2023.
Key Points:
- The dividend is payable on September 8, 2023 to shareholders of record at the close of business on August 24, 2023.
- Aurelio Alemán, President and Chief Executive Officer, stated, "Our balance sheet and capital ratios remain strong, with ratios significantly above 'well capitalized' thresholds.
- The Corporation’s common stock repurchase program will be subject to various factors, including the Corporation’s capital position, liquidity, financial performance and alternative uses of capital, stock trading price, and general market conditions.
- The repurchase program may be modified, extended, suspended, or terminated at any time at the Corporation’s discretion.
Banking,
Professional Services,
CD,
PTPP,
Insurance,
FHLB,
First Bancorp,
Efficiency ratio,
Common equity,
FDIC,
RESULTS,
Sale,
Asset,
First BanCorp,
First National Bank,
Investment,
CECL,
FNLC,
Tangible common equity,
Bank,
ACL,
NOW,
W Holding Company,
Money market,
Real estate,
Rare-earth element,
Cryptocurrency,
Holding company,
Beauty salon Compared to prior periods, earnings for the second quarter of 2023 were down from the net income of $10.0 million and diluted earnings per share of $0.91 reported in the second quarter of 2022, and down from the net income of $8.0 million and diluted earnings per share of $0.72 reported for the first quarter of 2023.
Key Points:
- Compared to prior periods, earnings for the second quarter of 2023 were down from the net income of $10.0 million and diluted earnings per share of $0.91 reported in the second quarter of 2022, and down from the net income of $8.0 million and diluted earnings per share of $0.72 reported for the first quarter of 2023.
- Turning to second quarter results, Mr. McKim remarked “Higher funding costs again negatively impacted our bottom line in the second quarter.
- The Company’s Return on Average Assets of 1.04% for the quarter was down from 1.16%; the second quarter 2023 PTPP Return on Average Assets was 1.26%, down from 1.49% in the prior quarter.
- The Company's Efficiency Ratio (non-GAAP) was 52.89% in the second quarter of 2023, up from 49.98% in the first quarter of 2023.
The First Bancorp (NASDAQ: FNLC), the parent company of First National Bank, today declared a quarterly cash dividend of 35 cents per share.
Key Points:
- The First Bancorp (NASDAQ: FNLC), the parent company of First National Bank, today declared a quarterly cash dividend of 35 cents per share.
- This second quarter dividend is payable July 20, 2023 to shareholders of record as of July 10, 2023.
- The quarterly cash dividend of 35 cents per share is an increase of one cent per share from the dividend paid in each of the prior four quarters.
- "I'm pleased to announce a second quarter dividend of 35 cents per share", remarked President & Chief Executive Officer, Tony C. McKim.
Professional Services,
Environmental, Social and Governance (ESG),
Environment,
Sustainability,
Finance,
Banking,
FBP,
Social Security Government Pension Offset,
First,
FirstBank (Puerto Rico),
ESG,
Social,
Corporate sustainability,
First BanCorp,
NYSE,
Renewable energy,
Management Key Points:
- First BanCorp.
- (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced the release of its 2022 Corporate Sustainability Report, which highlights the Corporation’s strategy and development relating to Environmental, Social and Governance (ESG) matters.
- This 2022 Corporate Sustainability Report provides more information on the Corporation’s performance and management of our commitments to address ESG priorities, while building long-term value to the Corporation’s stakeholders.
- I am confident that we will help build a sustainable, prosperous, and inclusive future for our company, our people, our customers, and our communities.”
Key Points:
- First BanCorp.
- (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today 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 June 9, 2023 to shareholders of record at the close of business on May 24, 2023.
Retrieved on:
Wednesday, April 19, 2023
Banking,
Professional Services,
Finance,
PTPP,
Pressure,
ASC,
Current Expected Credit Losses,
First Bancorp,
Efficiency ratio,
FDIC,
Common equity,
RESULTS,
Sale,
Asset,
PPP,
First BanCorp,
First National Bank,
Investment,
CECL,
FNLC,
Tangible common equity,
Growth,
Bank,
ACL,
W Holding Company,
Video game,
Cryptocurrency,
Holding company,
Real estate Earnings were down from the fourth quarter of 2022 when the Company reported net income of $9.2 million and diluted earnings per share of $0.83.
Key Points:
- Earnings were down from the fourth quarter of 2022 when the Company reported net income of $9.2 million and diluted earnings per share of $0.83.
- Our decrease in earnings from the fourth quarter is the result of a lower net interest margin due to increased funding costs.
- The Company adopted ASC 326, the CECL standard, in the first quarter of 2023, incurring a retained earnings adjustment of $6.3 million.
- Non-interest expense for the quarter ended March 31, 2023 was $10.9 million, a decrease of $861,000, or 7.4% from the fourth quarter of 2022.
