FIRST BANCORP. (Holding Company Only) Financial Information (Tables)

9 Months Ended

Sep. 30, 2017

Statements of Financial Condition

	As of September 30,			As of December 31,
	2017		2016

	(In thousands)

Assets
Cash and due from banks	$	19,091	$	29,393
Money market investments		6,111		6,111
Other investment securities		285		285
Loans held for investment, net		199		227
Investment in FirstBank Puerto Rico, at equity		2,012,945		1,946,211
Investment in First Bank Insurance Agency, at equity		11,759		10,941
Investment in FBP Statutory Trust I		2,702		2,929
Investment in FBP Statutory Trust II		3,561		3,561
Other assets		6,672		3,791
Total assets	$	2,063,325	$	2,003,449
Liabilities and Stockholders' Equity
Liabilities:
Other borrowings	$	208,639	$	216,187
Accounts payable and other liabilities		935		1,019
Total liabilities		209,574		217,206
Stockholders' equity		1,853,751		1,786,243
Total liabilities and stockholders' equity	$	2,063,325	$	2,003,449

Statements of (Loss) Income

	Quarter Ended				Nine-Month Period Ended
	September 30,				September 30,
	2017		2016		2017		2016
	(In thousands)				(In thousands)

Income:

Interest income on money market investments	$	5	$	5	$	15	$	15
Dividend income from banking subsidiaries		1,800		1,822		5,400		32,980
Dividend income from non-banking subsidiaries		3,000		-		3,000		7,000
Other income		68		58		195		181
		4,873		1,885		8,610		40,176

Expense:
Other borrowings		2,139		1,817		6,166		5,777
Other operating expenses		814		685		2,480		2,313
		2,953		2,502		8,646		8,090


Gain on early extinguishment of debt		1,391		-		1,391		4,217

Income (loss) before income taxes and equity
in undistributed (losses) earnings of subsidiaries		3,311		(617)		1,355		36,303
Income tax expense		(45)		-		(45)		-
Equity in undistributed (losses) earnings of subsidiaries		(14,018)		24,691		41,477		33,068
Net (loss) income	$	(10,752)	$	24,074	$	42,787	$	69,371

Other Comprehensive income, net of tax		3,719		(12,157)		23,480		32,109
Comprehensive (loss) income	$	(7,033)	$	11,917	$	66,267	$	101,480