Kelly Motta

Timur Braziler

Brett Rabatin

Steve Moss

Frank Shiroti

Stephen Moss

Arren Cyganovic

Arren Cyganovich

Frank Schiraldi

Timur Brazilia

- First BanCorp reported **net income of $100 million** or **$0.63 per share** for Q3 2025, which included a **$16.6 million reversal of valuation allowance on deferred tax assets**.  **[0001057706_2200793_1]** **[0001057706_2200793_3]**  Adjusted for these items, non-GAAP earnings per share were **$0.51**.  **[0001057706_2200793_3]** 
- Total loans grew by **$181 million** (5.6% linked quarter annualized), surpassing **$13 billion**, primarily driven by commercial, construction, and residential mortgage lending.  **[0001057706_2200793_1]**  This growth mitigated a slowdown in consumer credit demand, particularly in the auto industry, where total retail sales are down **7% year-to-date** as of September.  **[0001057706_2200793_1]** 
- Net interest income reached **$217.9 million** for the quarter, a **$2 million increase** from the prior quarter, with a net interest margin of **4.57%**.  **[0001057706_2200793_3]**  The company expects the net interest margin for the fourth quarter to be "sort of flat".  **[0001057706_2200793_4]** 
- The company repurchased **$50 million** in common stock during the quarter.  **[0001057706_2200793_1]** **[0001057706_2200793_5]**  The board authorized an additional **$200 million share buyback program** through 2026, with an expected repurchase cadence of approximately **$50 million per quarter**.  **[0001057706_2200793_1]** **[0001057706_2200793_5]** **[0001057706_2200793_12]** 
- Full-year loan growth guidance was adjusted to **3%-4%** from an original 5% due to the slowdown in auto lending.  **[0001057706_2200793_12]**

First BanCorp Reports Strong Q3 2025 Earnings, Loan Growth, and New Share Buyback Program

- First BanCorp reported **net income of $100 million** for the third quarter of 2025, with adjusted earnings per share growing **13%** compared to the prior year.  **[0001057706_2200784_1]** 
- Total loans grew by **$181 million** (5.6% linked quarter annualized) to surpass **$13 billion** for the first time since 2010; however, the full-year loan growth guidance was revised to **3% to 4%** from an original mid-single-digit expectation due to a slowdown in consumer credit demand, particularly in the auto industry.  **[0001057706_2200784_1]** **[0001057706_2200784_2]** **[0001057706_2200784_12]** 
- The company repurchased **$50 million** in common stock during Q3 2025, and the board authorized an additional **$200 million** share buyback program expected to be executed through 2026, with a base assumption of repurchasing approximately **$50 million per quarter**.  **[0001057706_2200784_1]** **[0001057706_2200784_5]** **[0001057706_2200784_12]** 
- Expenses for Q3 2025 were **$124.9 million**, and the expense guidance for the next couple of quarters remains **$125 million to $126 million**, with the efficiency ratio for the quarter at **50%** and expected to stay in the **50% to 52%** range.  **[0001057706_2200784_4]** 
- The net interest margin is expected to be "sort of flat" for the fourth quarter of 2025, with increases in net interest income coming from loan portfolio growth.  **[0001057706_2200784_4]**

First BanCorp Reports Strong Q3 2025 Results and New Share Buyback

FIRST BANCORP /PR/ (FBP)