19 slides from First Bancorp. New's earnings presentation, Jan 23, 2025
Slide 1: Financial Results Fourth Quarter and Full Year 2024
Financial ResultsFourth Quarter and Full Year 2024January 23, 2025
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 4Q 2024 Quarter Highlights Aurelio Alemán, President and Chief Executive Officer 4Q 2024 Results of Operations Orlando Berges, Executive Vice President and Chief Financial Officer Questions and Answers
Slide 4: Financial Performance Highlights
Fourth Quarter 2024 Financial Performance Highlights Balance Sheet Strong loan origination activity, other than credit card utilization, of $1.5 billion Total loans grew by 9.7% linked-quarter annualized (“LQA”) to $12.8 billion driven by growth across all loan portfolios and regions Total deposits,
Slide 5: Full Year 2024 – Delivering Strong Financial Results and Organic Growth
Full Year 2024 – Delivering Strong Financial Results and Organic Growth ROAA: 1.58% Adj. ROACE(1): 13.8% 1 CET1 Ratio:16.3% ACL Coverage: 1.9% 2 16% Growth in Tangible Book Value 3 2024 Franchise Highlights Grew loans by $569 million or 4.7% and core deposits by $267 million or 2.1%, while safeguard
Slide 6: Results of Operations
Eatery BanCorp | Results of Operations
Slide 7: Discussion of Results
Fourth Quarter 2024 Discussion of Results 4Q24 Adjusted Tangible Common Equity Ratio 4Q24 Adjusted Tangible Book Value per Share 4Q24 Adjusted ROACE 4Q24 TCE Ratio AOCL Impact Adj. TCE Ratio 4Q24 TBVPS AOCL Impact Adj. TBVPS 4Q24 ROACE AOCL Impact Adj. ROACE (1) Non-GAAP financial measures. Please r
Slide 8: Profitability Dynamics: Net Interest Income
Fourth Quarter 2024 Profitability Dynamics Net Interest Income ($MM) 4.14% 4Q23 4.16% 1Q24 4.22% 2Q24 4.25% 3Q24 4.33% 3Q24 Net Interest Income ($) Net Interest Margin (GAAP %) Net interest income amounted to $209.3 million, an increase of $7.2 million vs. the prior quarter, mainly reflecting: A $5.
Slide 9: Profitability Dynamics: Non-Interest Expenses and Income
Fourth Quarter 2024 Profitability Dynamics Non-Interest Expenses ($MM) Non-Interest Income ($MM) -20 0 80 100 120 140 -$0.1 $71.1 4Q23 -$0.1 $61.5 1Q24 3Q24 $64.5 $122.9 -$0.7 $124.5 4Q24 2Q24 $65.0 $126.6 $63.7 -$0.1 $120.9 -$2.5 $118.7 Credit Related Payroll Related Other Operating Expenses $2.1 4
Slide 10: Asset Quality
Fourth Quarter 2024 Asset Quality Non-Performing Assets ($MM) Reduction in NPAs was primarily driven by a $1.8 million decrease in nonaccrual commercial and construction loans due to repayments and charge-offs Inflows to nonaccrual loans held for investment were $37.1 million, a decrease of $1.6 mil
Slide 11: ACL and Capital
Fourth Quarter 2024 ACL and Capital Total stockholders’ equity amounted to $1.7 billion, a decrease of $31.6 million vs. the prior quarter, driven by an $82.3 million decrease in the fair value of available-for-sale debt securities due to changes in market rates recognized as part of accumulated oth
Slide 12: Appendix and Non-GAAP Financial Measures
4Q 2024 Financial Results Appendix and Non-GAAP Financial Measures
Slide 13: Appendix – Balance Sheet Highlights
Fourth 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) $7 $215 4Q23 $12 $237 1Q24 $10 $186 2Q24 $13 $207 3Q24 $15 $228 4Q24 Loans HFS Comme
Slide 14: Appendix - Puerto Rico Government Exposure
Fourth Quarter 2024 Appendix - Puerto Rico Government Exposure Government Loans Key Highlights Government Deposits Key Highlights As of 4Q 2024, the Corporation had $288.6 million of direct exposure and $59.2 million of indirect exposure to the Puerto Rico government, its municipalities and public c
Slide 15: Appendix - NPL Migration
Fourth Quarter 2024 Appendix - NPL Migration
Slide 16: Appendix - Use of Non-GAAP Financial Measures
Fourth 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
Fourth 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
Fourth 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 49-