FIRST BANCORP. (Holding Company Only) Financial Information (Tables)

6 Months Ended

Jun. 30, 2022

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Statements of Financial Condition [Table Text Block]

The following condensed financial information presents the financial position of First BanCorp. at the holding company level only as of June 30, 2022 and December 31, 2021, and the results of its operations for the quarters and six-month periods ended June 30, 2022 and 2021:

Statements of Financial Condition
(Unaudited)
		As of June 30,			As of December 31,
		2022		2021
(In thousands)
Assets
Cash and due from banks		$	18,387	$	20,751
Other investment securities			285		285
Investment in First Bank Puerto Rico, at equity			1,648,605		2,247,289
Investment in First Bank Insurance Agency, at equity			25,674		19,521
Investment in FBP Statutory Trust I			1,951		1,951
Investment in FBP Statutory Trust II			3,561		3,561
Dividend receivable			50,797		295
Other assets			210		71
	Total assets	$	1,749,470	$	2,293,724
Liabilities and Stockholdersʼ Equity
Liabilities:
Other borrowings		$	183,762	$	183,762
Accounts payable and other liabilities			7,792		8,195
	Total liabilities		191,554		191,957
Stockholdersʼ equity			1,557,916		2,101,767
	Total liabilities and stockholdersʼ equity	$	1,749,470	$	2,293,724

Statements of Income [Table Text Block]

Statements of Income
(Unaudited)
			Quarter Ended June 30,				Six-Month Period Ended June 30,
			2022		2021		2022		2021
(In thousands)
Income:
	Interest income on money market investments		$	10	$	8	$	14	$	24
	Dividend income from banking subsidiaries			178,679		16,328		242,272		35,129
	Other income			51		39		91		77
		Total income		178,740		16,375		242,377		35,230
Expense:
	Other borrowings			1,698		1,285		3,031		2,579
	Other operating expenses			434		637		873		1,136
	Total expenses			2,132		1,922		3,904		3,715
Income before income taxes and equity in undistributed earnings
		of subsidiaries		176,608		14,453		238,473		31,515
Income tax expense				793		659		1,899		1,788
(Distributions in excess of earnings) equity in undistributed
		earnings of subsidiaries		(101,120)		56,764		(79,279)		101,981
Net income			$	74,695	$	70,558	$	157,295	$	131,708
Other comprehensive (loss) income, net of tax				(175,923)		28,496		(507,757)		(70,433)
Comprehensive (loss) income			$	(101,228)	$	99,054	$	(350,462)	$	61,275