19 slides from First Bancorp. New's earnings presentation, Oct 23, 2024
Slide 1: Financial Results 3Q 2024
Financial Results3Q 2024
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
3 Agenda 3Q 2024 Quarter Highlights Aurelio Alemán, President and Chief Executive Officer 3Q 2024 Results of Operations Orlando Berges, Executive Vice President and Chief Financial Officer Questions and Answers
Slide 4: Financial Performance Highlights
Third Quarter 2024 Financial Performance Highlights Balance Sheet Strong loan origination activity, other than credit card utilization, of $1.2 billion Total loans grew by 2.0% linked-quarter annualized (“LQA”) to $12.5 billion driven by growth across all loan portfolios Total deposits, other than b
Slide 5: Franchise Highlights and Operating Environment
Franchise Highlights and Operating Environment Key Highlights ROAA: 1.55% Adj. ROACE(1): 13.5% 1 CET1 Ratio: 16.2% ACL Coverage: 1.98% 2 15% Growth in Tangible Book Value (Linked-Quarter) 3 Capital and Strategic Priorities Operating Environment Stable economic environment driven by robust labor mark
Slide 6: Results of Operations
Eatery BanCorp | Results of Operations
Slide 7: Discussion of Results
Third Quarter 2024 Discussion of Results 3Q24 Adjusted Tangible Common Equity Ratio 3Q24 Adjusted Tangible Book Value per Share 3Q24 Adjusted ROACE 3Q24 TCE Ratio AOCL Impact Adj. TCE Ratio 3Q24 TBVPS AOCL Impact Adj. TBVPS 3Q24 ROACE AOCL Impact Adj. ROACE (1) Non-GAAP financial measures. Please re
Slide 8: Profitability Dynamics: Net Interest Income
Third Quarter 2024 Profitability Dynamics Net Interest Income ($MM) 4.15% 3Q23 4.14% 4Q23 4.16% 1Q24 4.22% 2Q24 4.25% 3Q24 Net Interest Income ($) Net Interest Margin (GAAP %) Net interest income amounted to $202.1 million, an increase of $2.5 million vs. the prior quarter, mainly reflecting: A $3.8
Slide 9: Profitability Dynamics: Non-Interest Expenses and Income
Third Quarter 2024 Profitability Dynamics Non-Interest Expenses ($MM) Non-interest expenses of $122.9 million, up $4.2 million vs. prior quarter mainly due to: A $2.3 million decrease in net gain on OREO operations driven by a $2.3 million gain on sale of a commercial REO in 2Q 2024 A $1.6 million i
Slide 10: Asset Quality
Third Quarter 2024 Asset Quality Non-Performing Assets ($MM) Decrease in NPAs was primarily attributed to an $8.2 million sale of a nonaccrual C&I loan in the Puerto Rico region Inflows to nonaccrual loans held for investment were $38.7 million, a decrease of $5.3 million when compared to the prior
Slide 11: ACL and Capital
Third Quarter 2024 ACL and Capital Total stockholders’ equity increased to $1.7 billion driven by a $160.1 million increase in the fair value of available-for-sale debt securities due to changes in market rates recognized as part of accumulated other comprehensive loss and the net income generated d
Slide 12: 3Q 2024 Financial Results Appendix and Non-GAAP Financial Measures
3Q 2024 Financial Results Appendix and Non-GAAP Financial Measures
Slide 13: Appendix – Balance Sheet Highlights
Third Quarter 2024 Appendix – Balance Sheet Highlights Loan Portfolio - $MM Loan Originations - $MM(1) Total Deposits (excluding Brokered CDs) - $MM Composition of Deposit Portfolio vs. Available Liquidity - $MM(2) $9 $203 3Q23 $7 $215 4Q23 $12 $237 1Q24 $10 $186 2Q24 $13 $207 3Q24 Loans HFS Commerc
Slide 14: Appendix - Puerto Rico Government Exposure
Third Quarter 2024 Appendix - Puerto Rico Government Exposure Government Loans Key Highlights Government Deposits Key Highlights As of 3Q 2024, the Corporation had $309.0 million of direct exposure to the Puerto Rico government, its municipalities and public corporations, compared to $316.7 million
Slide 15: Appendix - NPL Migration
Third Quarter 2024 Appendix - NPL Migration 15
Slide 16: Appendix - Use of Non-GAAP Financial Measures
Third Quarter 2024 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
Third Quarter 2024 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
Third Quarter 2024 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: RAM LES LE
RAM LES LE DAM LES LE