First BanCorp (First BanCorp) Credit Losses Provision : $64.1 Mil (As of Dec. 2023)

View and export this data going back to 1993. Start your Free Trial

What is First BanCorp Credit Losses Provision?

First BanCorp's credit losses provision for the three months ended in Dec. 2023 was $18.9 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $64.1 Mil.

First BanCorp's quarterly credit losses provision declined from Jun. 2023 ($21.5 Mil) to Sep. 2023 ($10.5 Mil) but then increased from Sep. 2023 ($10.5 Mil) to Dec. 2023 ($18.9 Mil).

First BanCorp's annual credit losses provision increased from Dec. 2021 ($-65.3 Mil) to Dec. 2022 ($28.4 Mil) and increased from Dec. 2022 ($28.4 Mil) to Dec. 2023 ($67.0 Mil).

First BanCorp Credit Losses Provision Historical Data

The historical data trend for First BanCorp's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

First BanCorp Credit Losses Provision Chart

First BanCorp Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

Get a 7-Day Free Trial

39.81

170.99

-65.29

28.42

67.01

First BanCorp Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															16.15	21.49	10.52	18.85	13.20

First BanCorp Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $64.1 Mil.

First BanCorp (First BanCorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First BanCorp (NYSE:FBP) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

OLWN:Germany

Address

1519 Ponce de Leon Avenue, Stop 23, San Juan, PRI, 00908

Website

https://www.1firstbank.com

First BanCorp is a financial holding company. The company's operating segment includes Commercial and Corporate Banking; Mortgage Banking; Consumer (Retail) Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. It generates maximum revenue from the Consumer (Retail) Banking segment. The Consumer (Retail) Banking segment consists of the Corporation's consumer lending and deposit-taking activities conducted mainly through its branch network and loan centres. Geographically, it derives a majority of revenue from Puerto Rico.

Executives

Carlos Power	officer: EVP	P.O. BOX 9146, SAN JUAN PR 00908-0146
Aurelio Aleman	officer: Executive Vice President	P.O. BOX 9146, SAN JUAN PR 00908-0146
Donald Kafka	officer: Chief Operating Officer	PO BOX 9146, SAN JUAN PR 00908
Nayda Rivera	officer: EVP	PO BOX 9146, SAN JUAN PR 00908 0146
John A. Heffern	director	7 TOFTREES COURT, PRINCETON NJ 08540
Tracey A Dedrick	director	C/O HUDSON CITY BANCORP, INC., PARAMUS NJ 07652
Daniel Edward Frye	director	5 APPLEWOOD CIRCLE, EASTSANDWICH MA 02537
Gonzalez Orlando Berges	officer: EVP and CFO	PO BOX 9146, SAN JUAN PR 00908-0146
Roberto R Herencia	director	P.O. BOX 9146, SAN JUAN PR 00908
Patricia Eaves	director	PO BOX 9146, SAN JUAN PR 00908
Said Ortiz	officer: Chief Accounting Officer	PO BOX 9146, SAN JUAN PR 00908
Jose Maria Lacasa	officer: EVP	PO BOX 9146, SAN JUAN PR 00908
Lilian Diaz-bento	officer: EVP	PO BOX 9146, SAN JUAN PR 00908
Juan Carlos Pavia	officer: EVP, Chief Credit Officer	PO BOX 9146, SAN JUAN PR 00908
Sara Alvarez-cabrero	officer: EVP, General Counsel	PO BOX 9146, SAN JUAN PR 00908