Q2 2026 First BanCorp Earnings Call Transcript
Key Points
- First BanCorp (FBP) reported a strong net income of $96 million, or $0.62 per share, marking a 24% increase compared to the same quarter last year.
- Pre-tax pre-provision income reached an all-time high of $138 million, up 11% from the previous year.
- Loan growth accelerated, with total loans reaching $13.3 billion, a 5% increase on a linked-quarter annualized basis.
- Total deposits grew by $274 million during the quarter, driven by an increase in government deposits and a slight increase in core customer deposits.
- The company completed $50 million in share buybacks and paid a $0.20 per share dividend, maintaining a strong CET1 ratio of 17%.
- Early stage delinquency increased during the quarter, particularly in the auto finance leases portfolio.
- Non-performing assets grew by $5.1 million, mainly due to a commercial and industrial loan in Florida.
- Net interest margin improvements were partly due to non-recurring items, such as refinancing benefits.
- Operating expenses remained relatively flat, with expectations of increased expenses in the second half of 2026 due to technology projects and business promotions.
- Other income decreased to $35.7 million from $37.7 million in the previous quarter, primarily due to seasonal factors.
Good morning, and welcome to the First Bancorp second-quarter 2026 financial results conference call. All participants are in a listen-only mode.
(Operator instructions)
As a reminder, this conference call is being recorded. I'd now like to turn the call over to Ramon Rodriguez, First Bancorp's Corporate Strategy and Investor Relations Officer. Thank you. Please go ahead.
Thank you, Julianne. Good morning, everyone, and thank you for joining First Bancorp's conference call and webcast to discuss the company's financial results for the second-quarter of 2026.
I'm here with Aurelio Aleman, President and Chief Executive Officer, and Said Ortiz, CFO, Chief Financial Officer.
Before we begin today's call, it is my responsibility to inform you that this call may involve certain forward-looking statements, such as rejections of revenue, earnings, and capital structure, as well as statements on the plans and objectives of the company
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