19 slides from First Bancorp. New's earnings presentation, Jul 23, 2024
Slide 1: Financial Results 2Q 2024
Financial Results2Q 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 2Q 2024 Quarter Highlights Aurelio Alemán, President and Chief Executive Officer 2Q 2024 Results of Operations Orlando Berges, Executive Vice President and Chief Financial Officer Questions and Answers
Slide 4: Financial Performance Highlights
Second Quarter 2024 Financial Performance Highlights Balance Sheet Total loans grew by 2.4% linked-quarter annualized (“LQA”) to $12.4 billion driven by growth across all loan portfolios Total loan originations, other than credit card utilization activity, of $1.1 billion Total deposits, other than
Slide 5: Franchise Highlights and Operating Environment
Franchise Highlights and Operating Environment Key Highlights ROAA: 1.61% Adj. ROACE(1): 14.2% 1 CET1 Ratio: 15.8% ACL Coverage: 2.06% 2 100% dividend and buyback payout ratio (2Q 2024) 3 Capital and Strategic Priorities Operating Environment Main market benefitting from an unprecedented level of fe
Slide 6: Results of Operations
Eatery BanCorp | Results of Operations
Slide 7: Discussion of Results
Second Quarter 2024 Discussion of Results 2Q24 Adjusted Tangible Common Equity Ratio 2Q24 Adjusted Tangible Book Value per Share 2Q24 Adjusted ROACE 2Q24 TCE Ratio AOCL Impact Adj. TCE Ratio 2Q24 TBVPS AOCL Impact Adj. TBVPS 2Q24 ROACE AOCL Impact Adj. ROACE (1) Non-GAAP financial measures. Please r
Slide 8: Profitability Dynamics: Net Interest Income
Second Quarter 2024 Profitability Dynamics Net Interest Income ($MM) 4.23% 2Q23 4.15% 3Q23 4.14% 4Q23 4.16% 1Q24 4.22% 2Q24 Net Interest Income ($) Net Interest Margin (GAAP %) Net interest income amounted to $199.6 million, an increase of $3.1 million vs. the prior quarter, mainly reflecting: A $2.
Slide 9: Profitability Dynamics: Non-Interest Expenses
Second Quarter 2024 Profitability Dynamics Non-Interest Expenses ($MM) Non-interest expenses of $118.7 million, down $2.2 million vs. prior quarter; expenses for the second and first quarters of 2024 included an additional FDIC special assessment expense of $0.2 million and $0.9 million, respectivel
Slide 10: Asset Quality
Second Quarter 2024 Asset Quality Non-Performing Assets ($MM) Decrease in NPAs was primarily attributed to a $7.2 million decrease in OREO balances due to the sale of a $5.3 million commercial real estate OREO property, partially offset by a $5.6 million net increase in nonaccrual commercial and con
Slide 11: ACL and Capital
Second Quarter 2024 ACL and Capital Total stockholders’ equity increased by $11.7 million to $1.5 billion as of 2Q 2024 driven by net income generated during the quarter and a $10.6 million increase in the fair value of available-for-sale debt securities due to changes in market rates recognized as
Slide 12: Appendix and Non-GAAP Financial Measures
2Q 2024 Financial Results Appendix and Non-GAAP Financial Measures
Slide 13: Appendix – Balance Sheet Highlights
Second 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) $14 $164 2Q23 $9 $203 3Q23 $7 $215 4Q23 $12 $237 1Q24 $10 $186 2Q24 Loans HFS Commer
Slide 14: Appendix - Puerto Rico Government Exposure
Second Quarter 2024 Appendix - Puerto Rico Government Exposure Government Loans Key Highlights Government Deposits Key Highlights As of 2Q 2024, the Corporation had $316.7 million of direct exposure to the Puerto Rico government, its municipalities and public corporations, compared to $313.7 million
Slide 15: Appendix - NPL Migration
Second Quarter 2024 Appendix - NPL Migration 15
Slide 16: Appendix - Use of Non-GAAP Financial Measures
Second 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
Second 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
Second 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