First Bank · NASDAQ:FRBA
First Bank — Q2 2025 Earnings Presentation
19 slides from First Bank's earnings presentation, Jul 23, 2025
Slide 1: Financial Results Second Quarter 2025
Financial Results Second Quarter 2025 July 22, 2025 -1-
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation contains “forward-looking statements” concerning the Corporation’s future economic, operational and financial performance. The words or phrases “expect,” “anticipate,” “intend,” “should,” “would,” “will,” “plans,” “forecast,” “believe” and similar express
Slide 3: Agenda
AGENDA Aurelio Alemán, 1 2Q 2025 – Quarter Highlights President and Chief Executive Officer Orlando Berges, 2 2Q 2025 – Results of Operations Executive Vice President and Chief Financial Officer 3 2Q 2025 – Questions and Answers -3-
Slide 4: Financial Performance Highlights
SECOND QUARTER 2025 Financial Performance Highlights ▪ Net income of $80.2 million ($0.50 per diluted share), compared to $77.1 million ($0.47 per diluted share) in 1Q 2025 ▪ Strong return on average assets (“ROAA”) of 1.69%, compared to 1.64% in 1Q 2025; margin up 4 bps to 4.56% Profitability ▪ On
Slide 5: Franchise Highlights and Operating Environment
FRANCHISE HIGHLIGHTS AND OPERATING ENVIRONMENT 2Q 2025 FRANCHISE HIGHLIGHTS AND PRIORITIES OPERATING ENVIRONMENT PR Economic Activity Index (EAI)(2) ROAA: 1.69% CET1 Ratio:16.6% 5% Growth in YoY Change 1 2 3 Adj. ROACE(1): 14.2% ACL Coverage: 1.93% Tangible Book Value 121.3 123.2 128.8 127.1 127.3 1
Slide 6: Results of Operations
Cred Bancorn | Results of Operations
Slide 7: Discussion of Results
SECOND QUARTER 2025 Discussion of Results Income Statement and Selected Financial Data Non-GAAP Reconciliation – Selected Data(1) 2Q 2025 1Q 2025 Variance 2Q 2024 2Q25 Adjusted Tangible Common Equity Ratio ($ in thousands, except per share data and financial ratios) Interest income $ 278,190 $ 277,0
Slide 8: Profitability Dynamics
SECOND QUARTER 2025 Profitability Dynamics Net Interest Income ($MM) Evolution of Loan Yields and Cost of Funds(1) 250 10 $215.9 7.84% 7.83% 7.71% 7.75% 7.64% $209.3 $212.4 9 $199.6 $202.1 200 8 7 150 6 4.22% 4.25% 4.33% 4.52% 4.56% 6.15% 6.14% 5 6.10% 6.22% 6.18% 100 4 3 1.69% 1.69% 1.61% 1.53% 1.4
Slide 9: Profitability Dynamics
SECOND QUARTER 2025 Profitability Dynamics Non-Interest Income ($MM) Non-Interest Expenses ($MM) 40 $35.7 10 140 $122.9 $124.5 $123.0 $123.3 10 $32.0 $32.5 $32.2 $118.7 $30.9 120 $0.0 8 8 30 100 $59.1 $59.6 $22.9 6 $57.5 $62.1 $60.1 6 $18.9 $19.6 $19.3 $17.8 20 80 4 4 10 $3.4 $3.2 $3.2 $3.2 $3.4 $63
Slide 10: Asset Quality
SECOND QUARTER 2025 Asset Quality Non-Performing Assets ($MM) Repossessed Assets and Other Residential Commercial Repossessed Assets and Other Loans HFI NPAs/Assets Consumer Construction 140 $126.9 $129.4 $128.0 140 $126.9 $129.4 $128.0 10 $119.1 $118.3 1.0 $119.0 $118.3 120 120 $30.7 $30.9 $27.9 0.
Slide 11: ACL and Capital
SECOND QUARTER 2025 ACL and Capital Evolution of ACL ($MM) and Capital Ratios (%) ACL on Loans to Total Loans (%) $260.9 18.2 18.3 18.0 16.3 18.0 16.6 17.9 16.6 $248.0 $248.4 $251.7 $253.2 250 $6.3 $4.5 $4.4 $4.6 16.2 16.2 16.3 16.6 16.6 $12.0 15.8 15.8 7.5 200 11.0 11.1 11.2 11.4 $155.0 10.6 150 $0
Slide 12: Appendix and Non-GAAP Financial Measures
2Q 2025 Financial Results Appendix and Non-GAAP Financial Measures -12-
Slide 13: Appendix – Balance Sheet Highlights
SECOND QUARTER 2025 Appendix – Balance Sheet Highlights Loan Portfolio - $MM Commercial Loan Portfolio Distribution - $MM Total Deposits (excluding Brokered CDs) - $MM C&I $12,459 $12,762 $12,690 $12,880 $6,018 Office CRE (PR) $16,393 $16,340 $12,396 $15,904 $15,827 $16,027 $13 $15 $15 $10 Loans HFS
Slide 14: Appendix - Puerto Rico Government Exposure
SECOND QUARTER 2025 Appendix - Puerto Rico Government Exposure Government Loans Government Deposits Government Unit Source of Repayment Total Government Unit Time Deposits Transaction Accounts Total Puerto Rico Security $ 2.8 Municipalities $ 62.2 $ 541.3 $ 603.5 Public Agencies 60.7 930.9 991.6 Mun
Slide 15: Appendix - NPL Migration
SECOND QUARTER 2025 Appendix - NPL Migration 2Q 2025 Residential Commercial Commercial & Construction Consumer Total Mortgage Mortgage Industrial Beginning balance $ 30,793 $ 23,155 $ 20,344 $ 1,356 $ 22,813 $ 98,461 Plus: Additions to non-performing 4,897 302 533 4,371 24,333 34,436 Less: Non-perfo
Slide 16: Appendix - Use of Non-GAAP Financial Measures
SECOND QUARTER 2025 Appendix - Use of Non-GAAP Financial Measures Basis of Presentation: Use of Non-GAAP Financial Measures This presentation contains non-GAAP financial measures. Non-GAAP financial measures are used when management believes that the presentation of these non-GAAP financial measures
Slide 17: Appendix - Use of Non-GAAP Financial Measures
SECOND QUARTER 2025 Appendix - Use of Non-GAAP Financial Measures Basis of Presentation: Use of Non-GAAP Financial Measures This presentation contains non-GAAP financial measures. Non-GAAP financial measures are used when management believes that the presentation of these non-GAAP financial measures
Slide 18: Appendix - Use of Non-GAAP Financial Measures
SECOND QUARTER 2025 Appendix - Use of Non-GAAP Financial Measures Basis of Presentation: Use of Non-GAAP Financial Measures This presentation contains non-GAAP financial measures. Non-GAAP financial measures are used when management believes that the presentation of these non-GAAP financial measures
Slide 19: RLS LLLSSeee
RLS LLLSSeee RED LEE LEE RED LLEE LEE -19-