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FIRST BANCORP. (Holding Company Only) Financial Information (Tables)
9 Months Ended
Sep. 30, 2023
FIRST BANCORP. (Holding Company Only) Financial Information [Abstract]  
Statements of Financial Condition [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Statements of Financial Condition
As of September 30,
As of December 31,
2023
2022
(In thousands)
Assets
Cash and due from banks
$
34,804
$
19,279
Other investment securities
735
735
Investment in First Bank Puerto Rico, at equity
1,410,410
1,464,026
Investment in First Bank Insurance Agency,
 
at equity
23,596
28,770
Investment in FBP Statutory Trust I
1,289
1,951
Investment in FBP Statutory Trust II
3,561
3,561
Dividends receivable
715
624
Other assets
577
430
 
Total assets
$
1,475,687
$
1,519,376
Liabilities and Stockholders’ Equity
Liabilities:
Long-term borrowings
 
$
161,700
$
183,762
Accounts payable and other liabilities
10,919
10,074
 
Total liabilities
172,619
193,836
Stockholders’ equity
1,303,068
1,325,540
 
Total liabilities and stockholders’
 
equity
$
1,475,687
$
1,519,376
Statements of Income [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Statements of Income
 
Quarter Ended
 
Nine-Month Period Ended
September 30,
September 30,
2023
2022
2023
2022
(In thousands)
Income
 
 
Interest income on money market investments
 
$
77
$
19
$
187
$
33
 
Dividend income from banking subsidiaries
82,178
49,728
239,980
292,000
 
Dividend income from nonbanking subsidiaries
-
-
12,000
-
 
Gain on early extinguishment of debt
-
-
1,605
-
 
Other income
101
68
304
159
 
Total income
82,356
49,815
254,076
292,192
Expense
 
Interest expense on long-term borrowings
3,345
2,273
10,135
5,304
 
Other non-interest expenses
452
422
1,324
1,295
 
Total expense
3,797
2,695
11,459
6,599
Income before income taxes and equity in undistributed
 
earnings of subsidiaries
78,559
47,120
242,617
285,593
Income tax expense
745
735
2,606
2,634
Equity in undistributed earnings of subsidiaries
 
(distributions in excess of earnings)
4,208
28,218
(16,636)
(51,061)
Net income
$
82,022
$
74,603
$
223,375
$
231,898
Other comprehensive loss, net of tax
(78,976)
(270,937)
(46,585)
(778,694)
Comprehensive income (loss)
$
3,046
$
(196,334)
$
176,790
$
(546,796)