FIRST BANCORP. (Holding Company Only) Financial Information	12 Months Ended
	Dec. 31, 2023
FIRST BANCORP. (Holding Company Only) Financial Information [Abstract]
FIRST BANCORP. (Holding Company Only) Financial Information	NOTE 30 – FIRST BANCORP. (HOLDING COMPANY ONLY) FINANCIAL INFORMATION The following condensed financial information presents the financial position of First BanCorp. at the holding company level only as of December 31, 2023 and 2022, and the results of its operations and cash flows for the years ended December 31, 2023, 2022 and 2021: Statements of Financial Condition As of December 31, 2023 2022 (In thousands) Assets Cash and due from banks $ 11,452 $ 19,279 Other investment securities 825 735 Investment in First Bank Puerto Rico, at equity 1,627,172 1,464,026 Investment in First Bank Insurance Agency, at equity 24,948 28,770 Investment in FBP Statutory Trust I 1,289 1,951 Investment in FBP Statutory Trust II 3,561 3,561 Dividends receivable 713 624 Other assets 476 430 Total assets $ 1,670,436 $ 1,519,376 Liabilities and Stockholders’ Equity Liabilities: Long-term borrowings $ 161,700 $ 183,762 Accounts payable and other liabilities 11,127 10,074 Total liabilities 172,827 193,836 Stockholders’ equity 1,497,609 1,325,540 Total liabilities and stockholders’ equity $ 1,670,436 $ 1,519,376 Statements of Income Year Ended December 31, 2023 2022 2021 (In thousands) Income Interest income on money market investments $ 228 $ 79 $ 51 Dividend income from banking subsidiaries 319,683 368,670 98,060 Dividend income from non-banking subsidiaries 12,000 - 30,000 Gain on early extinguishment of debt 1,605 - - Other income 406 248 154 Total income 333,922 368,997 128,265 Expense Interest expense on long-term borrowings 13,535 8,253 5,135 Other non-interest expenses 1,817 1,730 1,929 Total expense 15,352 9,983 7,064 Income before income taxes and equity in undistributed earnings of subsidiaries 318,570 359,014 121,201 Income tax expense 3,126 3,448 2,854 Equity in undistributed earnings of subsidiaries (distribution in excess of earnings) (12,580) (50,494) 162,678 Net income $ 302,864 $ 305,072 $ 281,025 Other comprehensive income (loss), net of tax 165,608 (720,779) (139,454) Comprehensive income (loss) $ 468,472 $ (415,707) $ 141,571 Statements of Cash Flows Year Ended December 31, 2023 2022 2021 (In thousands) Cash flows from operating activities: Net income $ 302,864 $ 305,072 $ 281,025 Adjustments to reconcile net income to net cash provided by operating activities: Stock-based compensation 145 148 149 Equity in undistributed earnings of subsidiaries 12,580 50,494 (162,678) Gain on early extinguishment of debt (1,605) - - Net (increase) decrease in other assets (146) (688) 1,657 Net increase in other liabilities 1,127 1,545 3,578 Net cash provided by operating activities 314,965 356,571 123,731 Cash flows from investing activities: Purchase of equity securities (90) (450) - Return of capital from wholly-owned subsidiaries (1) - 8,000 200,000 Net cash (used in) provided by investing activities (90) 7,550 200,000 Cash flows from financing activities: Repurchase of common stock (203,241) (277,769) (216,522) Repayment of junior subordinated debentures (19,795) - - Dividends paid on common stock (99,666) (87,824) (65,021) Dividends paid on preferred stock - - (2,453) Redemption of preferred stock - Series A through E - - (36,104) Net cash used in financing activities (322,702) (365,593) (320,100) Net (decrease) increase in cash and cash equivalents (7,827) (1,472) 3,631 Cash and cash equivalents at beginning of the year 19,279 20,751 17,120 Cash and cash equivalents at end of year $ 11,452 $ 19,279 $ 20,751 Cash and cash equivalents include: Cash and due from banks $ 11,452 $ 19,279 $ 20,751 Money market instruments - - - $ 11,452 $ 19,279 $ 20,751 (1) During 2022 and 2021, FirstBank, a wholly-owned subsidiary of First BanCorp., redeemed 0.3 million and 8 million shares of its preferred stock, respectively, for a total price of approximately $ 8.0 million and $ 200 million, respectively.