XML 49 R38.htm IDEA: XBRL DOCUMENT v3.21.1
FIRST BANCORP. (Holding Company Only) Financial Information
3 Months Ended
Mar. 31, 2021
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
FIRST BANCORP. (Holding Company Only) Financial Information [Text Block]

NOTE 30 – FIRST BANCORP. (HOLDING COMPANY ONLY) FINANCIAL INFORMATION

 

The following condensed financial information presents the financial position of First BanCorp. at the holding company level only as of March 31, 2021 and December 31, 2020, and the results of its operations for the quarters ended March 31, 2021 and 2020:

Statements of Financial Condition

(Unaudited)

 

 

 

 

 

 

 

As of March 31,

 

As of December 31,

 

2021

 

2020

(In thousands)

 

 

 

 

Assets

 

 

 

 

 

Cash and due from banks

$

19,433

 

$

10,909

Money market investments

 

-

 

 

6,211

Other investment securities

 

285

 

 

285

Investment in First Bank Puerto Rico, at equity

 

2,340,202

 

 

2,396,963

Investment in First Bank Insurance Agency, at equity

 

45,740

 

 

41,313

Investment in FBP Statutory Trust I

 

1,951

 

 

1,951

Investment in FBP Statutory Trust II

 

3,561

 

 

3,561

Other assets

 

1,616

 

 

2,023

Total assets

$

2,412,788

 

$

2,463,216

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

Liabilities:

 

 

 

 

 

Other borrowings

$

183,762

 

$

183,762

Accounts payable and other liabilities

 

8,601

 

 

4,275

Total liabilities

 

192,363

 

 

188,037

 

 

 

 

 

 

Stockholders' equity

 

2,220,425

 

 

2,275,179

Total liabilities and stockholders' equity

$

2,412,788

 

$

2,463,216

Statements of Income

 

(Unaudited)

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

March 31,

 

March 31,

 

 

2021

 

2020

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Income:

 

 

 

 

 

 

Interest income on money market investments

$

16

 

$

33

 

Dividend income from banking subsidiaries

 

18,801

 

 

13,629

 

Other income

 

38

 

 

61

 

 

 

18,855

 

 

13,723

 

Expense:

 

 

 

 

 

 

Other borrowings

 

1,294

 

 

2,032

 

Other operating expenses

 

499

 

 

523

 

 

 

1,793

 

 

2,555

 

Income before income taxes and equity in undistributed

 

 

 

 

 

 

earnings (losses) of subsidiaries

 

17,062

 

 

11,168

 

Income tax provision

 

1,129

 

 

1,382

 

Equity in undistributed earnings (losses) of subsidiaries

 

45,217

 

 

(7,520)

 

Net income

$

61,150

 

$

2,266

 

Other comprehensive (loss) income, net of tax

 

(98,929)

 

 

42,352

 

Comprehensive (loss) income

$

(37,779)

 

$

44,618