First BanCorp Reports Record Full-Year 2025 Earnings and Strong Q4 Adjusted Profitability

summarizeSummary

First BanCorp reported record full-year 2025 earnings and strong adjusted Q4 profitability, driven by an expanded net interest margin, loan growth, and significant capital deployment through stock repurchases.

check_boxKey Events

• Record Full-Year Performance

  Reported record net income of $344.9 million and diluted earnings per share of $2.15 for the full year ended December 31, 2025.

• Strong Q4 Adjusted Profitability

  Achieved adjusted net income of $86.4 million for Q4 2025, an increase from the prior quarter's adjusted results, despite a GAAP decline due to Q3 one-time benefits.

• Expanded Net Interest Margin

  Net interest margin increased by 11 basis points to 4.68% in Q4 2025, driven by higher-yielding assets and lower deposit costs.

• Balance Sheet Growth and Quality

  Total loans grew by $80.8 million to $13.1 billion, core deposits increased by $266.5 million, and the non-performing assets ratio decreased to 0.60% of total assets.

auto_awesomeAnalysis

First BanCorp announced a strong finish to 2025, reporting record full-year net income of $344.9 million and diluted earnings per share of $2.15. While GAAP net income for Q4 2025 decreased to $87.1 million from $100.5 million in Q3 2025, this was primarily due to significant one-time tax benefits and an Employee Retention Credit recognized in the third quarter. On an adjusted basis, Q4 net income actually increased, demonstrating underlying operational strength. The company also achieved an expanded net interest margin, healthy loan and core deposit growth, and improved asset quality. Furthermore, First BanCorp actively returned capital to shareholders through a $50.0 million common stock repurchase program, underscoring its robust capital position and commitment to shareholder value.