FIRST BANCORP PR
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 28, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Financial Condition
(In thousands, except for share information)
ASSETS
$
661,925
$
478,480
Money market investments:
Time deposits with other financial institutions
Other short-term investments
1,725
Total money market investments
1,239
2,025
Available-for-sale debt securities, at fair value:
Securities pledged with creditors’ rights
to repledge
81,103
Other available-for-sale debt securities
5,518,417
Total available-for-sale debt securities, at fair value (amortized cost
of $
5,863,294
as of December 31, 2023, and
$
6,398,197
as of December 31, 2022; allowance
for credit losses (''ACL'') of $
as of
December 31, 2022)
Held-to-maturity debt securities, at amortized
cost, net of ACL of $
2,197
8,286
as of December 31, 2022 (fair value of
$
346,132
427,115
as of December 31, 2022)
351,981
429,251
Equity securities
49,675
55,289
Total investment securities
5,631,640
6,084,060
Loans, net of ACL of $
261,843
260,464
Mortgage loans held for sale, at lower of
cost or market
7,368
12,306
Total loans, net
11,931,008
Accrued interest receivable on loans and
77,716
69,730
Premises and equipment, net
142,016
142,935
Other real estate owned (“OREO”)
32,669
31,641
Deferred tax asset, net
150,127
155,584
38,611
38,611
Other intangible assets
13,383
21,118
229,215
305,633
$
$
LIABILITIES
Non-interest-bearing deposits
$
$
11,151,864
10,030,583
Total deposits
Short-term securities sold under agreements
75,133
Advances from the Federal Home Loan
Bank ("FHLB"):
475,000
500,000
200,000
Total advances from the FHLB
500,000
675,000
Other long-term borrowings
161,700
183,762
194,255
231,582
17,411,940
17,308,944
Commitments and contingencies (See
Note 29)
(nil)
(nil)
STOCKHOLDERS’ EQUITY
Common stock, $
0.10
par value,
2,000,000,000
shares authorized;
223,663,116
shares issued;
169,302,812
shares outstanding as of December 31, 2023
and
22,366
22,366
Additional paid-in capital
965,707
970,722
Retained earnings, includes legal surplus
reserve of $
199,576
168,484
1,846,112
Treasury stock (at cost),
shares as of December 31, 2023 and
shares as of December 31, 2022
(697,406)
Accumulated other comprehensive loss,
net of tax of $
8,581
8,468
(639,170)
Total stockholders’ equity
Total liabilities and stockholders’ equity
$
$
The accompanying notes are an integral part
of these statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.