25 slides from First Bancorp. New's earnings presentation, Feb 5, 2013
Slide 1: Fourth Quarter & Fiscal Year 2012 Financial Results
Exhibit 99.2 ExhibitQuarter Financial Fourth 99.2 Results & Fiscal Year 2012
Slide 2: Forward-Looking Statements
Forward-Looking This “are Litigation only comply into delinquent reliance being dividends continue changes markets, and projected the System, that causing operations credit on update 2Corporation’s the Corporation’s the British with expected presentation asable sectors ratings Corporation’s any of c
Slide 3: Agenda
Fourth Quarter Agenda Financial Questions 3Summary Officer & Answers and Fiscal Year 2012 Highlights: Aurelio Alemán, President & Chief Executive Officer Fourth Quarter and Fiscal Year 2012 Results of Operations: Orlando Berges, Executive Vice President & Chief
Slide 4: Fourth Quarter & Fiscal Year 2012 Highlights
FOURTHYEAR FISCAL HighlightsQUARTER 2012 &
Slide 5: Fourth Quarter 2012 Highlights
Fourth Effectively Pre-tax $3.1 $26.0 Profitability Net 3.90% Asset NPAs Q4 Brokered Capital Risk Leverage Tangible 2012 income interest million Based Quality million, decreased down compared Quarter pre-provision position non-brokered Common Ratio CDs executing Capital $14.5 margin: $21 from NPLs o
Slide 6: Select Financial Highlights
Select ($ FY Adjusted Net Nonperforming Non-interest Brokered Total Leverage Tier Book Tangible Common in2012 income Interest 1millions; Capital value Capital Common Financial Common book FY Pre-tax, Ratio CDs stock per (loss) Margin 2011 bearing Ratio Ratio except value $price share 12.6% Assets Lo
Slide 7: Loan Originations
Fourth ,($ 1,459 1,479 1,501 1,565 $10,000 85 64 60 44 $11,250 $0 $1,250 2,747 2,767 2,764 2,799 2,874 $2,500 2,013 1,986 1,950 1,553 1,562 $3,750 399 428 362 353 365 $5,000 $6,250 3,437 3,628 3,738 4,044 4,131 $7,500 4Loan $838 $914 93$1,050 $691 2$755 7$700 243 381 $- 214 187 194 162 $175 160 163
Slide 8: Deposits, Retail and Brokered
Fourth ($ Deposits, $6,286 963 $4,000 2,654 $- Retail Brokered Interest Non-interest brokered Continued -Reduced 34% Brokered in959 Q4 millions) 2,782 2011 Commercial of Quarter $6,434 Bearing 1,005 reliance deposits from CDs Net focus CDs Q1 2,827 Bearing of 0.91% 34% $6,488 1,108 Highlights: 2012
Slide 9: Fourth Quarter & Fiscal Year 2012 Results of Operations
FOURTH Results of QUARTER Operations & FISCAL YEAR 2012
Slide 10: Results of Operations: Q4 2012
Results ($ Q4 Interest Provision Non-interest Equity Total Personnel Occupancy Insurance REO Other Pre-tax Income Select Adjusted Fully Book Tangible Common Net Efficiency 10 in2012 interest income Interest thousands, expense non-interest diluted value operating Financial in income of income expense
Slide 11: Net Interest Income and Margin
Results Net Average A Excess Non $150.0 NIM 3.98 $100.0 13.0 14.7 16.5 $125.0 $75.0 3.46 125.5 2.94 $50.0 108.7 Q4 $- $25.0 11 reduction 11 interest interest Interest 3.90 (GAAP) 3.20 125.6 98.5 Q1 Net cash ofloan 12 Operations: 101.9 Interest income of held income* Income Q2 balances 17.3 1012 atba
Slide 12: Cost of Funds
Cost2011 FUNDS OF COST Operations: of Results The Further $2.2 (Renewals 1.50% 1.23% 1.13% 1.25% 1.00% 0.91% 0.99% 4Q 0.50% Interest Total 12 average billion of Deposits, 1.39% 1.03% 1.11% 0.88% total reductions Bearing 1Qatof 2012 rate cost deposits current 1.01% brokered Net Deposits, paid of2Q in
Slide 13: Results of Operations: Fiscal Year 2012
Results ($ FY Interest Provision Service Mortgage Loss Equity Other Personnel Occupancy Insurance REO Otherhe Total Pre-tax Income Net 13 in2012 interest (loss) income thousands, on expense non-interest service non-interest in income of income expense charges tax early operatingpe FY (losses) for an
Slide 14: Asset Quality: Non-performing Assets
Results ($ Non-performing $1,800 1,410 1,562 1,337 Q1 $- 976 1,639 Q3 Q4 R 38% 39 36 Consumer C&I Loans (6%) (11) 178 189 (4%) (17) 445 462 N Repossessed (3%) (30) 978 951,008 196 -0187 65 Other (NPAs (2%) Net Accumulated Book C Amount2 Charge-offs $Reserves Reduced 56.3% $141.9 $231.2 $623.1 Total
Slide 15: Net Charge-offs and Allowance Coverage
Results ($ Net $600 $70 CommercialMortgage C&I $60 Residential 19 $400 $40 6$50 $30 17 13 8$20 9$10 14 $- Q4 Total *Allowance 15 Annualized $200 68$- ALLL in 811 12 7Charge-offs Construction Consumer 15 4 8 Q4 0.0% 13 $457 millions) 6.0% 4.44% 10 net 5Q1 2of 2.55% 11 2.03% 1.78% ALLL charge-offs 12
Slide 16: Capital Position
Results decrease The Capital 20.0% 17.5% 17.1% 16.2% 15.8% 13.3% 12.7% 13.0% 11.9% 10.4% Tangible 10.3% Q4 16 11 Corporation’s capital Q1 Leverage Total Tier 17.5% 17.8% 16.5% 13.6% 12.6% 10.4% Ratios ofin Common 12 Operations: 1other levels Capital Q2 Capital Tier 15.0% Ratio 12 comprehensive conti
Slide 17: Fourth Quarter & Fiscal 2012 Summary
FOURTH QUARTER & FISCAL 2012 Summary
Slide 18: Summary
Summary ƒTotal Asset Profitability $26 Loan Core Strengthened We 18Strong Focus are million Deposits capital, Portfolio Quality confident on capital CORE execution or $14.5 Tier Management remains continue 91% focus position: that FRANCHISE 1million from capital on of our our to solid our Q4 core gr
Slide 19: Fourth Quarter & Fiscal 2012 Q&A
FOURTH QUARTER & FISCAL 2012 Q&A
Slide 20: Exhibits
EXHIBITS
Slide 21: Q4 Net Interest Income Key Margin Drivers
Results Q4 % Net Changes Rate Volume $6Income (0.19%) Residential Construction (502) (0.07%) (3,307) C&I 182 0.27% (9,039) Consumer (1,482) (0.03%) (116,250) Total (936) (0.45%) 30,991 Average (2,833) (0.06%) (98,027) Interest-bearing (2,183) (0.17%) 239,693 Brokered (0.21%) 42,677 Other 314 (0.02%)
Slide 22: 2012 Net Interest Income Key Margin Drivers
Results 2012 % Net Changes Rate Volume Income (0.10%) (18,425) Residential (0.23%) (143,720) (0.09%) (228,576) 0.01% (571,851) Total 38,842 0.97% 203,704 Average (6,367) 0.34% (764,147) Interest-bearing (24,792) 0.36% (1,494,670) Brokered (0.25%) (1,646,387) 18,844 (0.41%) 259,189 17,711 (0.60%) (28
Slide 23: Use of Non-GAAP Financial Measures: Tangible Common Equity
Basis Use This or attached The less intangible. adequacy common the (In September June March December (63,047) -Core Total 28,098) (28,098) Goodwill Purchased -C (24,342) (23,920) (23,511) (11,689) (11,100) (10,512) (9,923) (9,335) Common Tangible 205,134 206,134 206,179 206,235 share 10.25% 10.20%
Slide 24: Use of Non-GAAP Financial Measures: Regulatory Capital
Use This or attached The (b) regulatory Corporation’s (Dollars As September 2011 2012 Qualifying Unrealized (63,047) Disallowed (19,234) (20,233) (26,623) (42,528) ((28,476) -G (25) (41) Core (28,098) Cumulative (11,689) (11,100) (10,512) (9,923) (9,335) accounted Other (2,009) (2,434) (922) (807) (
Slide 25: Use of Non-GAAP Financial Measures: Pre-provision Income
Use This or attached One pre-provision adjustments From are outside (Dollars Quarter September June March December Income 2011 2012 Less: 41,987 36,197 24,884 28,952 30,466 1,014 1,207 143 547 69 measured Add: 1,746 (283) (506) (170) (432) -A Adjusted (1,666) 6,236 2,491 2,199 $(31258,330 Change 25