UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________ FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ COMMISSION FILE NUMBER 001-14793 FIRST BANCORP. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHART ...

Financial Data and Key Metrics Changes - The company reported a net income of $70.6 million or $0.33 per share for Q2 2021, an increase from $61 million or $0.28 per share in the previous quarter [15][23] - Pre-tax pre-provision income rose to $96.6 million, up from $86.4 million in the last quarter [15][23] - The efficiency ratio improved to 60.6%, and adjusted for merger and COVID-related expenses, it was at 55% [16][34] - The allowance for credit losses decreased to $339 million, down $34 million from the prior quarter [38][40] Business Line Data and Key Metrics Changes - The consumer portfolio grew, driven by auto loans which increased by $98 million [18] - Non-interest income was impacted by a lack of contingent insurance commission received in the previous quarter, but transaction volumes on debit and credit cards increased [30] - Interest income from commercial and construction loans grew by $2.5 million, while interest expense decreased by $1.7 million [27][28] Market Data and Key Metrics Changes - The economic activity in Puerto Rico and Florida is approaching pre-pandemic levels, with improved consumer confidence reflected in retail sales and credit card activity [8][9] - Digital adoption increased, with registered users up 4% quarter-over-quarter and 20% year-over-year [10] - Government collections are on the rise, indicating improved economic activity [9] Company Strategy and Development Direction - The company is on track to complete full integration of operations, with significant synergies expected to be reflected in Q4 numbers [12] - Focus on digital transformation and enhancing customer support through integrated platforms [21] - The company aims to capture additional market share through its expanded franchise [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic recovery and its positive impact on the loan portfolio [21] - The company is well-positioned for the second half of the year, anticipating continued improvements in credit quality and economic conditions [21] - Management noted the importance of ongoing government stimulus in supporting customer liquidity [8] Other Important Information - The company repurchased 7.96 million shares for approximately $100 million under a $300 million repurchase program [17][45] - The total non-performing assets decreased by $29.3 million to $256 million, with non-accrual loans down to $183 million [42][44] Q&A Session Summary Question: Regarding expenses and guidance for future levels - Management expects to reach normalized expense levels of $117 to $119 million by Q4 2021, with savings from branch consolidations and service eliminations [48][50] Question: Outstanding merger expenses - Remaining merger restructuring charges are estimated to be between $4 million and $5 million for the second half of the year [52][53] Question: Capital management and buyback plans - The capital plan will be revisited next quarter, with potential adjustments based on franchise performance [55][56] Question: Asset quality metrics and loan loss reserves - Management aims for normalized reserve levels around 2.6%, with a target to reduce non-performing loans further [59][60] Question: Construction loan pipeline and timing - The construction pipeline is improving, linked to housing demand and investor activity, with expectations for continued growth [63][64]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________ FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ COMMISSION FILE NUMBER 001-14793 FIRST BANCORP. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHAR ...

First Bancorp (NYSE:FBP) Q1 2021 Earnings Conference Call April 26, 2021 10:00 AM ET Company Participants John Pelling - IR Officer & Capital Planning Officer Aurelio Alemán - President, CEO & Director Orlando Berges - EVP, CFO & Interim CAO Conference Call Participants Alex Twerdahl - Piper Sandler & Co. Glen Manna - KBW Jonathan Krautmann - Rubric Capital Management Operator Good morning, and welcome to the First BanCorp. First Quarter 2021 Results Conference Call. [Operator Instructions]. Please note, th ...

Financial Results 4Q 2020 & FY 2020 Page 1 Forward-Looking Statement Page 2 This presentation may contain "forward-looking statements" concerning the Corporation's future economic, operational and financial performance. The words or phrases "expect," "anticipate," "intend," "should," "would," "believe" and similar expressions are meant to identify "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, ...

First BanCorp. (NYSE:FBP) Q4 2020 Earnings Conference Call January 29, 2021 10:00 AM ET Company Participants John Pelling - Investor Relation Officer Aurelio Alemán - President and Chief Executive Officer Orlando Berges - Executive Vice President and Chief Financial Officer Conference Call Participants Chris Nardone - Bank of America Alex Twerdahl - Piper Sandler Glen Manna - KBW Operator Good day and welcome to the First BanCorp Fourth Quarter and Full Year 2020 Earnings Conference Call. All participants w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________ FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ COMMISSION FILE NUMBER 001-14793 FIRST BANCORP. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS ...

Financial Data and Key Metrics Changes - The company reported a net income of $28.6 million for Q3 2020, an increase from $21 million in the previous quarter [26] - The pre-tax pre-provision net revenue (PPNR) was $77 million, with only one month of earnings from the acquired operations [7] - The provision for credit losses decreased significantly to $8 million from $39 million in the previous quarter [26][39] Business Line Data and Key Metrics Changes - The acquired Santander operation contributed $3.5 million to after-tax net income, excluding Day 1 CECL adjustments [27] - Retail lending showed strong performance, with auto and mortgage lending returning to pre-pandemic levels [18] - Non-interest income improved to $29.9 million, driven by gains on sales of securities and increased mortgage banking activities [35] Market Data and Key Metrics Changes - The loan to deposit ratio stood at 78%, indicating a solid balance sheet post-acquisition [14] - Employment figures in Puerto Rico showed recovery, with 92% of jobs returning to pre-2019 levels [16] - Active moratoriums on loans reduced to only 0.8% of the portfolio as of October 21 [19] Company Strategy and Development Direction - The company completed a strategic acquisition of Santander, enhancing its competitiveness in commercial, retail, and residential banking [5] - Integration of the acquired operations is underway, with plans to complete the process by the end of Q2 2021 [11] - The company aims to balance cost savings with growth opportunities, targeting $48 million in estimated cost savings from the acquisition [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about economic recovery, supported by over $60 billion in pandemic and hurricane relief funds [16] - The company remains vigilant regarding potential economic hurdles due to COVID-19 and is closely monitoring sensitive sectors like hospitality [18] - Management emphasized the importance of executing integration plans and achieving synergies while navigating the current economic environment [52] Other Important Information - The allowance for credit losses increased to $385 million, reflecting the initial allowance required for the Santander operation [39] - The company incurred $10.4 million in merger and restructuring costs during the quarter, significantly higher than the previous quarter [31] - Capital ratios remain strong, with a Tier 1 ratio of 17% despite the acquisition [43] Q&A Session Summary Question: Discussion on capital return and urgency regarding stock performance - Management acknowledged a sense of urgency regarding capital return but emphasized the need to assess the economic environment and regulatory guidelines before making decisions [46][47] Question: Outlook on pre-provision earnings and revenue - Management indicated that loan growth and margin compression risks will influence future PPNR, with a focus on executing integration plans [50][51] Question: Process for capital actions and buybacks - All capital actions require a formal process, and management stressed the importance of timing and stabilization before executing buybacks [60][61] Question: Opportunities for de-leveraging and managing higher-cost deposits - Management confirmed that they are not renewing brokered deposits and are focusing on managing liquidity efficiently [62][63] Question: Cadence of cost savings and impact of voluntary retirement program - Cost savings will be realized over time, with immediate savings from the voluntary separation program starting in January [66][67]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________ FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ COMMISSION FILE NUMBER 001-14793 FIRST BANCORP. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHART ...

Financial Results Second Quarter 2020 1 First | BanCorp Forward-Looking Statements This press release may contain "forward-looking statements" concerning the Corporation's future economic, operational and financial performance. The words or phrases "expect," "anticipate," "intend," "look forward," "should," "would," "believe" and similar expressions are meant to identify "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securitie ...