“For the six-month period ended June 30, 2025, net cash used in financing activities was $651.7 million, mainly reflecting the repayments of long-term borrowings, consisting of $180.0 million in FHLB advances and the redemption of junior subordinated debenture…”10-Q · Aug 7, 2026 ↗
First BanCorp.
FBP
Market read
First BanCorp.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
- Net interest margin rose as lower deposit rates and reduced wholesale funding costs supported the spread.
- A $3.8 million increase in interest expense on time deposits was driven by a $494.2 million increase in the average balance for the period.
Invalidation: The isolated read changes if FBP's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- Net interest margin rose as lower deposit rates and reduced wholesale funding costs supported the spread.
- A $3.8 million increase in interest expense on time deposits was driven by a $494.2 million increase in the average balance for the period.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +6.7% year over year.
- Net margin changed +2.6 percentage points in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 5 filings.
- Macroeconomic conditions has repeated adverse evidence across 5 filings.
- EV/sales is 81% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
27.74Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“In addition, the ACL for commercial and construction loans decreased by $2.1 million, mainly due to an improvement in the projection of certain macroeconomic variables, net of aforementioned qualitative reserves, partially offset by loan growth.”10-Q · Aug 7, 2026 ↗
“The decrease was mainly related to the ACL for consumer loans and finance leases, which decreased by $3.6 million, driven by lower delinquency levels in the unsecured loan portfolios and improvements in macroeconomic variables in the secured loan portfolios,…”10-Q · Aug 7, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 4.5× · EV/sales 4.7×. Comparisons use only industry-matched filing peers.
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for FBP. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for FBP. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind FBP
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
FBP is currently a Leader in the organic co-movement group Regional Banks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.
This group is retained as the last observed read for FBP; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.