The bank maintains a conservative capital structure with an equity-to-assets ratio of 0.10, though the $17.8 billion investment securities portfolio warrants ongoing duration risk monitoring.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash & Short Term Investments | 8.18B | 657.15M | 5.72B | 5.89B | 6B | 8.68B | 5.8B | 2.64B | 2.35B | 2.26B | 1.84B | 1.85B | 1.74B | 1.59B | 1.61B | 1.2B | 364.05M | 702.34M | 330.33M | 222.41M | 149.46M | 871.67M | 106.81M | 89.31M | 381.96M | 59.9M | 65.39M | 93.48M | 39.9M | 38.2M | 35.7M |
| Cash & Due from Banks | 549.2M | 657.15M | 1.16B | 662.23M | 478.78M | 2.54B | 1.43B | 546.69M | 578.91M | 709.11M | 292.39M | 535.99M | 779.45M | 454.6M | 730.52M | 207.85M | 256.07M | 680.4M | 330.33M | 222.41M | 149.46M | 871.67M | 106.81M | 89.31M | 381.96M | 59.9M | 65.39M | 93.48M | 39.9M | 38.2M | 35.7M |
| Short Term Investments | 0 | 0 | 4.57B | 5.23B | 5.52B | 6.13B | 4.37B | 2.09B | 1.77B | 1.55B | 1.55B | 1.31B | 956.36M | 1.14B | 876.44M | 992.11M | 107.98M | 22.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 17.84B | 17.77B | 17.45B | 17.56B | 17.31B | 17.16B | 16.03B | 11.15B | 10.33B | 10.14B | 10.25B | 10.18B | 9.87B | 10.35B | 10.41B | 10.91B | 14.76B | 18.29B | 18.44B | 16.24B | 16.19B | 17.97B | 14.34B | 11.97B | 8.95B | 7.88B | 5.63B | 4.43B | 3.84B | 3.17B | 2.54B |
| Investments Growth % | 7.36% | 1.79% | -0.63% | 1.47% | 0.85% | 7.1% | 43.67% | 8% | 1.89% | -1.08% | 0.64% | 3.19% | -4.7% | -0.5% | -4.6% | -26.12% | -19.26% | -0.83% | 13.56% | 0.27% | -9.87% | 25.33% | 19.72% | 33.85% | 13.57% | 39.8% | 27.13% | 15.35% | 21.28% | 24.92% | 11.47% |
| Long-Term Investments | 65.47B | 17.77B | 12.89B | 12.33B | 11.79B | 11.03B | 11.66B | 9.06B | 8.56B | 8.59B | 8.7B | 8.87B | 8.91B | 9.22B | 9.53B | 9.92B | 14.66B | 18.26B | 18.44B | 16.24B | 16.19B | 17.97B | 14.34B | 11.97B | 8.95B | 7.88B | 5.63B | 4.43B | 3.84B | 3.17B | 2.54B |
| Accounts Receivables | 67.72M | 0 | 71.88M | 77.72M | 69.73M | 61.51M | 69.5M | 50.2M | 50.37M | 57.17M | 45.45M | 48.7M | 50.8M | 54.01M | 51.67M | 49.96M | 59.06M | 79.87M | 98.56M | 107.98M | 112.5M | 103.69M | 56.94M | 41.51M | 39.28M | 37.63M | 27.97M | 17.92M | 10.7M | 13M | 9.2M |
| Goodwill & Intangibles | 41.85M | 42.07M | 45.58M | 51.99M | 59.73M | 68.55M | 79.53M | 35.67M | 66.19M | 67.61M | 72.96M | 50.59M | 49.91M | 54.87M | 60.95M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 38.61M | 38.61M | 38.61M | 38.61M | 38.61M | 38.61M | 38.63M | 28.1M | 28.1M | 28.1M | 28.1M | 28.1M | 28.1M | 28.1M | 28.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.24M | 3.46M | 6.97M | 13.38M | 21.12M | 29.93M | 40.89M | 7.57M | 38.09M | 39.51M | 44.86M | 22.48M | 21.81M | 26.77M | 32.85M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 127.86M | 126.92M | 133.44M | 142.02M | 142.94M | 146.42M | 158.21M | 149.99M | 147.81M | 141.9M | 150.83M | 161.02M | 166.93M | 166.95M | 181.36M | 194.94M | 209.01M | 197.97M | 178.47M | 162.63M | 155.66M | 116.95M | 95.81M | 85.27M | 87.6M | 76.16M | 72.09M | 62.47M | 51.5M | 49.5M | 49M |
| Other Assets | 317.03M | 328.74M | 294.06M | 261.88M | 418.38M | 596.17M | 697.59M | 409.63M | 485.2M | 664.75M | 953.5M | 1.42B | 1.63B | 1.38B | 1.49B | 1.52B | 304.01M | 384.24M | 444.59M | 456.05M | 779.23M | 858.27M | 1.04B | 478.13M | 189.69M | 147.57M | 120.27M | 116M | 73.4M | 58.8M | 192.3M |
| Total Current Assets | 616.92M | 737.47M | 5.8B | 5.97B | 6.07B | 8.74B | 5.87B | 2.69B | 2.73B | 2.57B | 2.12B | 2.12B | 2.02B | 1.89B | 1.9B | 1.5B | 421.76M | 782.21M | 428.3M | 330.39M | 261.97M | 975.37M | 163.75M | 130.81M | 421.25M | 97.53M | 93.36M | 111.4M | 50.6M | 51.2M | 44.9M |
| Total Non-Current Assets | 18.47B | 18.41B | 13.5B | 12.94B | 12.57B | 12.05B | 12.92B | 9.92B | 9.51B | 9.69B | 9.8B | 10.45B | 10.71B | 10.77B | 11.2B | 11.63B | 15.17B | 18.85B | 19.06B | 16.86B | 17.13B | 18.94B | 15.47B | 12.54B | 9.22B | 8.1B | 5.83B | 4.61B | 3.97B | 3.28B | 2.78B |
| Total Assets | 19.09B | 19.13B | 19.29B | 18.91B | 18.63B | 20.79B | 18.79B | 12.61B | 12.24B | 12.26B | 11.92B | 12.57B | 12.73B | 12.66B | 13.1B | 13.13B | 15.69B | 19.63B | 19.49B | 17.19B | 17.39B | 19.92B | 15.62B | 12.67B | 9.64B | 8.2B | 5.92B | 4.72B | 4.02B | 3.33B | 2.82B |
| Asset Growth % | 1.6% | -0.83% | 2.03% | 1.48% | -10.35% | 10.6% | 49.02% | 3% | -0.14% | 2.84% | -5.17% | -1.22% | 0.56% | -3.38% | -0.21% | -16.32% | -20.08% | 0.7% | 13.41% | -1.17% | -12.69% | 27.52% | 23.3% | 31.36% | 17.64% | 38.48% | 25.37% | 17.53% | 20.74% | 17.91% | 16% |
| Return on Assets (ROA) | 1.87% | 1.8% | 1.56% | 1.61% | 1.55% | 1.42% | 0.65% | 1.35% | 1.65% | 0.55% | 0.76% | 0.17% | 3.09% | -1.28% | 0.23% | -0.57% | -2.97% | -1.41% | 0.6% | 0.39% | 0.45% | 0.65% | 1.25% | 1.07% | 1.21% | 1.22% | 1.26% | 1.42% | 1.41% | 1.54% | 1.43% |
| Accounts Payable | 0 | 0 | 0 | 0 | 231.58M | 214.85M | 276.75M | 180.61M | 129.91M | 145.91M | 118.82M | 159.27M | 115.19M | 129.18M | 109.77M | 152.64M | 162.72M | 145.24M | 148.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 290M | 364.37M | 561.7M | 661.7M | 933.89M | 683.76M | 923.76M | 854.15M | 1.07B | 1.22B | 1.56B | 1.48B | 1.46B | 1.43B | 1.85B | 1.65B | 2.31B | 5.21B | 4.74B | 4.46B | 4.66B | 5.75B | 6.3B | 4.65B | 3.25B | 3.43B | 2.07B | 1.8B | 1.93B | 1.46B | 889.7M |
| Net Debt | -259.2M | -292.78M | -597.01M | -525K | 455.12M | -1.86B | -509.8M | 307.46M | 495.32M | 514.53M | 1.26B | 945.51M | 677.51M | 977.36M | 1.12B | 1.44B | 2.06B | 4.53B | 4.41B | 4.24B | 4.51B | 4.88B | 6.19B | 4.56B | 2.87B | 3.37B | 2B | 1.71B | 1.89B | 1.42B | 854M |
| Long-Term Debt | 200M | 200M | 561.7M | 661.7M | 383.76M | 383.76M | 623.76M | 754.15M | 924.15M | 923.63M | 886.19M | 681.49M | 556.96M | 531.96M | 740.4M | 622.74M | 885.4M | 1.21B | 1.29B | 1.1B | 560M | 506M | 1.68B | 82.82M | 82.81M | 84.36M | 146.05M | 199.09M | 220.2M | 260.8M | 285.8M |
| Short-Term Debt | 90M | 107.61M | 0 | 0 | 550.13M | 300M | 300M | 100M | 150.09M | 300M | 670M | 800M | 900M | 900M | 1.11B | 1.02B | 1.43B | 4B | 3.44B | 3.36B | 4.1B | 5.24B | 4.62B | 4.56B | 3.17B | 3.34B | 1.92B | 1.6B | 1.71B | 1.2B | 603.9M |
| Other Liabilities | 16.83B | 16.8B | 190.69M | 194.25M | 0 | 0 | 0 | 0 | 0 | 0 | -370M | -100M | 0 | 0 | -208.44M | -23.34M | 1.44M | 954K | 504K | 270.76M | 494.14M | 505.86M | 219.82M | 167.12M | 113.16M | 70.81M | 69.73M | 57.52M | 41.5M | 34.8M | 37.4M |
| Total Current Liabilities | 90M | 107.61M | 16.87B | 16.56B | 16.93B | 18.3B | 15.89B | 9.63B | 9.27B | 9.47B | 9.62B | 10.3B | 10.5B | 10.91B | 11.08B | 11.08B | 13.65B | 16.82B | 16.65B | 14.39B | 15.11B | 17.71B | 12.53B | 11.33B | 8.65B | 7.51B | 5.27B | 4.17B | 3.49B | 2.8B | 2.31B |
| Total Non-Current Liabilities | 17.03B | 17.07B | 752.39M | 855.96M | 383.76M | 383.76M | 623.76M | 754.15M | 924.15M | 923.63M | 516.19M | 581.49M | 556.96M | 531.96M | 531.96M | 599.4M | 885.4M | 1.21B | 1.29B | 1.37B | 1.05B | 1.01B | 1.9B | 249.94M | 195.97M | 155.17M | 215.78M | 256.61M | 261.7M | 295.6M | 323.2M |
| Total Liabilities | 17.12B | 17.17B | 17.62B | 17.41B | 17.31B | 18.68B | 16.52B | 10.38B | 10.2B | 10.39B | 10.14B | 10.88B | 11.06B | 11.44B | 11.61B | 11.68B | 14.54B | 18.03B | 17.94B | 15.77B | 16.16B | 18.72B | 14.4B | 11.58B | 8.85B | 7.59B | 5.49B | 4.43B | 3.75B | 3.09B | 2.63B |
| Total Equity | 1.97B | 1.97B | 1.67B | 1.5B | 1.33B | 2.1B | 2.28B | 2.23B | 2.04B | 1.87B | 1.79B | 1.69B | 1.67B | 1.22B | 1.49B | 1.44B | 1.06B | 1.6B | 1.55B | 1.42B | 1.23B | 1.2B | 1.2B | 1.09B | 798.42M | 602.92M | 434.46M | 294.9M | 270.4M | 236.4M | 191.1M |
| Equity Growth % | 64.89% | 17.83% | 11.46% | 12.98% | -36.93% | -7.62% | 2.11% | 8.97% | 9.4% | 4.64% | 5.44% | 1.34% | 37.49% | -18.13% | 2.83% | 36.5% | -33.84% | 3.29% | 8.9% | 15.62% | 2.65% | -0.54% | 10.53% | 36.46% | 32.43% | 38.77% | 47.32% | 9.06% | 14.38% | 23.7% | 11.62% |
| Equity / Assets (Capital Ratio) | 10.31% | 10.28% | 8.65% | 7.92% | 7.11% | 10.11% | 12.11% | 17.67% | 16.7% | 15.24% | 14.98% | 13.47% | 13.13% | 9.61% | 11.34% | 11% | 6.74% | 8.15% | 7.94% | 8.27% | 7.07% | 6.01% | 7.71% | 8.6% | 8.28% | 7.35% | 7.34% | 6.25% | 6.73% | 7.1% | 6.77% |
| Return on Equity (ROE) | 18.53% | 18.97% | 18.87% | 21.46% | 17.8% | 12.84% | 4.54% | 7.83% | 10.3% | 3.66% | 5.36% | 1.27% | 27.17% | -12.18% | 2.03% | -6.57% | -39.47% | -17.49% | 7.4% | 5.14% | 6.97% | 9.54% | 15.46% | 12.7% | 15.41% | 16.58% | 18.45% | 21.96% | 20.44% | 22.22% | 20.76% |
| Book Value per Share | 12.60 | 12.24 | 10.10 | 8.45 | 6.91 | 9.95 | 10.45 | 10.26 | 9.44 | 8.65 | 8.28 | 7.95 | 7.94 | 5.92 | 7.21 | 16.11 | 93.54 | 259.29 | 250.67 | 245.49 | 220.35 | 217.55 | 218.02 | 158.60 | 149.88 | 91.94 | 26.69 | 47.03 | 45.41 | 39.68 | 31.62 |
| Tangible BV per Share | 12.33 | 11.97 | 9.82 | 8.16 | 6.59 | 9.62 | 10.09 | 10.10 | 9.13 | 8.34 | 7.94 | 7.72 | 7.70 | 5.65 | 6.92 | 16.11 | 93.54 | 259.29 | 250.67 | 245.49 | 220.35 | 217.55 | 218.02 | 158.60 | 149.88 | 91.94 | 26.69 | 47.03 | 45.41 | 39.68 | 31.62 |
| Common Stock | 22.37M | 22.37M | 22.37M | 22.37M | 22.37M | 22.37M | 22.3M | 22.21M | 22.18M | 22.04M | 21.87M | 21.61M | 21.37M | 20.77M | 20.67M | 20.58M | 2.2M | 6.83M | 102.44M | 102.4M | 93.15M | 90.77M | 45.31M | 44.95M | 44.88M | 29.85M | 29.62M | 29.61M | 0 | 0 | 0 |
| Additional Paid-in Capital | 952.77M | 963.54M | 964.96M | 965.71M | 970.72M | 972.55M | 946.48M | 941.65M | 939.67M | 936.77M | 931.86M | 926.35M | 916.07M | 888.16M | 885.75M | 884M | 319.46M | 220.6M | 108.3M | 108.28M | 22.76M | 0 | 87.69M | 80.27M | 70M | 14.21M | 16.57M | 19.86M | 0 | 0 | 0 |
| Retained Earnings | 2.33B | 2.27B | 1.81B | 1.65B | 1.48B | 1.43B | 1.22B | 1.22B | 1.09B | 895.21M | 830.93M | 737.92M | 716.63M | 322.68M | 487.17M | 457.38M | -5.36M | 118.29M | 440.78M | 409.98M | 326.76M | 316.7M | 299.5M | 220.04M | 145.24M | 103.13M | 69.28M | 58.84M | 125.1M | 97.5M | 77.7M |
| Accumulated OCI | -360.72M | -354.55M | -336.38M | -439.59M | -636.29M | -84M | 55.45M | 6.76M | -40.41M | -20.61M | -34.39M | -27.75M | -18.35M | -78.74M | 28.43M | 19.2M | 17.72M | 26.49M | 57.39M | 260.79M | 246.68M | 250.17M | 225.7M | 199.13M | 182.73M | 190.5M | 157.19M | 98.14M | 8.7M | 12M | 600K |
| Treasury Stock | -972.44M | -932.5M | -790.35M | -697.41M | -506.98M | -236.44M | -480K | -474K | -455K | -410K | -125K | -96K | -74K | -57K | -49K | -66K | -66K | -660K | -9.9M | -9.9M | -9.9M | -9.9M | -4.92M | -4.92M | -4.92M | -3.28M | -3.19M | -1.55M | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 36.1M | 36.1M | 36.1M | 36.1M | 36.1M | 36.1M | 36.1M | 63.05M | 63.05M | 63.05M | 425.01M | 928.51M | 550.1M | 550.1M | 550.1M | 550.1M | 550.1M | 550.1M | 360.5M | 268.5M | 165M | 90M | 0 | 0 | 0 |
Regional Economic Concentration Risk
According to the provided quarterly data, First BanCorp's total assets have remained relatively stable, hovering around $19.1 billion as of 2026Q1, with the balance sheet composition heavily weighted toward a $17.8 billion investment securities portfolio rather than traditional loan growth.
The bank's reliance on a large securities portfolio suggests a strategy focused on liquidity and interest rate management rather than aggressive expansion of the loan book. This asset mix implies that the bank is positioning itself to navigate potential volatility in the Puerto Rican economy by maintaining high-quality, liquid assets.
As reported in financial statements, the equity-to-assets ratio has remained consistent at 0.10 as of 2026Q1, indicating a stable capital base that supports the bank's operations while providing a significant buffer against potential credit or market-related shocks.
The maintenance of a 10% equity-to-assets ratio suggests a conservative capital management philosophy that prioritizes long-term solvency over aggressive leverage. This capital position provides management with the flexibility to continue returning value to shareholders while absorbing potential fluctuations in the provision for credit losses.
Based on the reported figures, the bank's cash and cash equivalents reached $549.2 million in 2026Q1, which, when combined with the substantial $17.8 billion investment securities portfolio, suggests a highly liquid balance sheet capable of meeting short-term funding obligations.
The bank's liquidity profile appears robust, with a significant portion of the balance sheet held in liquid securities rather than illiquid loans. This structure likely mitigates the risk of deposit flight and provides the bank with the necessary resources to manage interest rate sensitivity effectively.
Analysis of the balance sheet reveals that investment securities account for approximately 93% of total assets as of 2026Q1, a concentration that warrants further investigation into the duration and interest rate sensitivity of this portfolio.
While the large securities portfolio provides liquidity, it also exposes the bank to significant interest rate risk if the yield curve shifts unexpectedly. Investors should monitor whether these securities are held at amortized cost or fair value, as unrealized losses could impact the bank's regulatory capital ratios if market conditions deteriorate.
Quick answers to the most common questions about buying FBP stock.
As of 2025, First BanCorp. (FBP) had total assets of $19.13B including $737.5M in current assets.
First BanCorp. (FBP) carries total debt of $364.4M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
First BanCorp. (FBP) has total shareholders' equity (book value) of $1.97B ($12.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
First BanCorp. (FBP) reported a current ratio of 6.85x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.