MARKETS / NYSE / FBP

NYSE · STATE COMMERCIAL BANKS · LARGE CAP

First Bancorp FBP

17 fiscal years on record · USD · FY2025 reported · SEC filings only

5 YEARS OF DIVIDEND GROWTH

Revenue

$1.0B

▲ 6.7% YoY

Net income

$344.9M

▲ 15.4% YoY

Free cash flow

$437.5M

▲ 11.0% YoY

In brief

What this company does

Through its subsidiaries, including FirstBank, First BanCorp. provides commercial and consumer banking services, mortgage banking services, automobile financing, insurance agency services, and other financial products and services in Puerto Rico, the U.S., the USVI and the BVI. As of December 31, 2025, the Corporation had total assets of $19.1 billion, including loans held for investment of $13.1 billion, total deposits of $16.7 billion, and total stockholders' equity of $2.0 billion. FirstBank conducts its business through its main office located in San Juan, Puerto Rico, 57 banking branches in Puerto Rico, eight banking branches in the USVI and the BVI, and eight banking branches in the state of Florida. As of December 31, 2025, the Corporation and its subsidiaries had 3,218 regular employees, including 2,854 in the Puerto Rico region, 206 in the Florida region, and 158 in the Virgin Islands region. The Corporation has six reportable segments: Mortgage Banking, Consumer (Retail) Banking, Commercial and Corporate Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations. The Mortgage Banking segment consists of the origination, sale and servicing of residential mortgage loan products and related hedging activities in the Puerto Rico region. The Commercial and Corporate Banking segment consists of the Corporation's lending and other services for large customers represented by specialized and middle-market clients and the government sector in the Puerto Rico region. The Corporation was incorporated under the laws of the Commonwealth of Puerto Rico in 1948 to serve as the bank holding company for FirstBank.

Written from the business description in FIRST BANCORP.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth

USD 1.0B

Revenue, FY2025 · full 17-year series below

Revenue $B Net income $B

FY2025 · Revenue 1.0 · Net income 0.3

Compound annual growth

Revenue

+2.9%

+7.1%

+3.8%

+0.3%

Net income

+4.2%

+27.5%

+32.1%

EPS, diluted

+10.6%

+36.1%

Dividend / share

+16.1%

+29.2%

Returned to shareholders

−9.7%

+43.9%

+72.2%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +7.1% a year over five years — but profit grew faster: net income at +27.5%, earnings per share at +36.1%.

The share count fell from 0.22B to 0.16B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

34 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 41.6% · Net 34.5%

ROE

FY2025 · ROE 19.0%

Gross margin—

Operating margin41.6%

Net margin34.5%

Return on assets1.8%

EBITDA—

Each USD of equity produced 19 cents of profit this year.

Cash & shareholders

USD 269.2M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 437.5

Net buybacks $M Dividends $M

FY2025 · Dividends 115.5 · Net buybacks 153.7

Dividends paidUSD 115.5M

Net buybacksUSD 153.7M

Share of profit78.1%

Consecutive raises5 years (since the 2020 share-count change)

USD 115.5M in dividends and USD 153.7M in buybacks — 78% of the year's profit went back to shareholders.

Total assetsUSD 19.1B

EquityUSD 2.0B

CashUSD 658.6M

Gross debtUSD 290.0M

Net debtUSD -368.6M

DepositsUSD 16.7B

The company holds more cash than debt.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	1.0	0.9	0.9	0.9	0.9	0.7	0.7	0.6	0.7	0.7	0.7	0.7	0.6	0.7	0.8	1.0	·
Operating income $B	0.4	0.4	0.4	0.4	0.4	0.1	0.2	0.2	0.1	0.1	0.0	0.1	−0.0	0.1	0.0	−0.3	·
EBITDA $B	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Income tax $B	0.1	0.1	0.1	0.1	0.1	0.0	0.1	−0.0	−0.0	−0.0	0.0	−0.3	0.0	0.0	0.0	0.1	0.0
Net income $B	0.3	0.3	0.3	0.3	0.3	0.1	0.2	0.2	0.1	0.1	0.0	0.4	−0.2	0.0	−0.1	−0.5	−0.3
Free cash flow $B	0.4	0.4	0.3	0.4	0.4	0.3	0.3	0.3	0.2	0.2	0.2	0.2	0.3	0.2	0.1	0.2	0.2
EPS, diluted $	2.15	1.81	1.71	1.59	1.31	0.46	0.76	0.92	0.30	0.43	0.10	1.87	−0.80	0.14	2.18	−10.79	−52.22
Dividend / sh $	0.72	0.64	0.56	0.46	0.31	0.20	0.14	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.10
Payout %	33	35	33	29	23	42	18	3	0	0	0	0	−0	0	−32	−0	−16
ROE %	19.0	18.9	21.5	17.8	12.8	4.5	7.8	10.3	3.7	5.4	1.3	27.2	−12.2	2.0	−6.6	−39.5	−17.2
Shares out B	0.16	0.16	0.17	0.18	0.20	0.22	0.22	0.22	0.22	0.22	0.22	0.21	0.21	0.21	0.21	0.02	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 49 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 8 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityState Commercial Banks

Listed onNYSE

Incorporated inPuerto Rico

Fiscal year endsDecember 31

Data on record since2009