First Bancorp. New · NYSE:FBP

First Bancorp. New — First Bancorp — Q1 2025 Earnings Presentation

19 slides from First Bancorp. New's earnings presentation, Apr 24, 2025

  1. Slide 1: Financial Results First Quarter 2025

    Financial ResultsFirst Quarter 2025April 24, 2025

  2. 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

  3. Slide 3: Agenda

    Agenda 1 1Q 2025 – Quarter Highlights Aurelio Alemán, President and Chief Executive Officer 2 1Q 2025 – Results of Operations Orlando Berges, Executive Vice President and Chief Financial Officer 3 1Q 2025 – Questions and Answers

  4. Slide 4: Financial Performance Highlights

    First Quarter 2025 Financial Performance Highlights Balance Sheet Total loans decreased by $71.7 million to $12.7 billion (-0.5% vs. prior quarter) primarily reflecting decrease in commercial loan portfolio Core deposits, other than brokered and fully collateralized government deposits, grew by $29.

  5. Slide 5: Franchise Highlights and Operating Environment

    Franchise Highlights and Operating Environment ROAA: 1.64% Adj. ROACE(1): 13.8% 1 CET1 Ratio:16.6% ACL Coverage: 2.0% 2 7% Growth in Tangible Book Value 3 PR Economic Activity Index (EAI)(2) 1Q20 2Q20 4Q21 4Q22 4Q23 1Q24 2Q24 3Q24 YoY Change PR Payroll Employment (Thousands) 1Q20 2Q20 4Q20 4Q21 4Q22

  6. Slide 6: Results of Operations

    Eatery BanCorp | Results of Operations

  7. Slide 7: Discussion of Results

    First Quarter 2025 Discussion of Results 1Q25 Adjusted Tangible Common Equity Ratio 1Q25 Adjusted Tangible Book Value per Share 1Q25 Adjusted ROACE 1Q25 TCE Ratio AOCL Impact Adj. TCE Ratio 2.2% 1Q25 TBVPS AOCL Impact Adj. TBVPS 1Q25 ROACE 4.1% AOCL Impact Adj. ROACE (1) Non-GAAP financial measures.

  8. Slide 8: Profitability Dynamics: Net Interest Income

    First Quarter 2025 Profitability Dynamics Net Interest Income ($MM) 4.16% 1Q24 4.22% 2Q24 4.25% 3Q24 4.33% 4Q24 4.52% 1Q25 Net Interest Income ($) Net Interest Margin (GAAP %) Net interest income amounted to $212.4 million, an increase of $3.1 million vs. the prior quarter, including a $1.2 million

  9. Slide 9: Profitability Dynamics: Non-Interest Expenses and Income

    First Quarter 2025 Profitability Dynamics Non-Interest Expenses ($MM) Non-interest expenses of $123.0 million, down $1.5 million vs. prior quarter mainly due to: A $2.1 million decrease in seasonal business promotion expenses and a $2.0 million decrease in card processing expenses mainly due to $2.2

  10. Slide 10: Asset Quality

    First Quarter 2025 Asset Quality Non-Performing Assets ($MM) Increase in NPAs was primarily driven by the inflow of a $12.6 million commercial mortgage loan in Florida, partially offset by lower OREO balances and non-accrual residential mortgage loans Inflows to nonaccrual loans held for investment

  11. Slide 11: ACL and Capital

    First Quarter 2025 ACL and Capital Total stockholders’ equity amounted to $1.8 billion, an increase of $110.1 million vs. the prior quarter, driven by an $84.1 million increase in the fair value of available-for-sale debt securities due to changes in market rates recognized as part of accumulated ot

  12. Slide 12: Appendix and Non-GAAP Financial Measures

    1Q 2025 Financial Results Appendix and Non-GAAP Financial Measures

  13. Slide 13: Appendix – Balance Sheet Highlights

    First Quarter 2025 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) $12 $237 1Q24 $10 $186 2Q24 $13 $207 3Q24 $15 $228 4Q24 $15 $234 1Q25 Loans HFS Comme

  14. Slide 14: Appendix - Puerto Rico Government Exposure

    First Quarter 2025 Appendix - Puerto Rico Government Exposure Government Loans Key Highlights Government Deposits Key Highlights As of 1Q 2025, the Corporation had $288.1 million of direct exposure and $62.6 million of indirect exposure to the Puerto Rico government, its municipalities and public co

  15. Slide 15: Appendix - NPL Migration

    First Quarter 2025 Appendix - NPL Migration

  16. Slide 16: Appendix - Use of Non-GAAP Financial Measures

    First 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

  17. Slide 17: Appendix - Use of Non-GAAP Financial Measures

    First 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

  18. Slide 18: Appendix - Use of Non-GAAP Financial Measures

    First 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

  19. Slide 19: RAM LES LE

    RAM LES LE DAM LES LE 49-

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