FIRST BANCORP PR

(In thousands, except for share information)

ASSETS

$

1,158,215

$

661,925

Money market investments:

Time deposits with other financial institutions

Other short-term investments

Total money market investments

1,200

1,239

Available-for-sale debt securities, at fair value (amortized cost of

$

5,125,408

as of December 31, 2024 and

$

5,863,294

as of December 31, 2023; ACL of

$

as of December 31, 2023)

Held-to-maturity debt securities, at amortized

cost, net of ACL of $

2,197

as of December 31, 2023 (fair value of

$

308,040

346,132

as of December 31, 2023)

316,984

351,981

Equity securities

52,018

49,675

Total investment securities

4,934,304

5,631,640

Loans, net of ACL of $

243,942

261,843

Mortgage loans held for sale, at lower of

cost or market

15,276

7,368

Total loans, net

12,517,890

Accrued interest receivable on loans and

71,881

77,716

Premises and equipment, net

133,437

142,016

Other real estate owned (“OREO”)

17,306

32,669

Deferred tax asset, net

136,356

150,127

38,611

38,611

6,967

13,383

276,754

229,215

$

$

LIABILITIES

Non-interest-bearing deposits

$

$

11,323,760

11,151,864

Total deposits

561,700

661,700

190,687

194,255

17,623,685

17,411,940

Commitments and contingencies (See

Note 27)

(nil)

(nil)

STOCKHOLDERS’ EQUITY

Common stock, $

0.10

par value,

2,000,000,000

shares authorized;

223,663,116

shares issued;

163,868,877

shares outstanding as of December 31, 2024

and

22,366

22,366

Additional paid-in capital

964,964

965,707

Retained earnings, includes legal surplus

reserve of $

230,178

199,576

2,038,812

Treasury stock (at cost),

shares as of December 31, 2024 and

shares as of December 31, 2023

(790,350)

Accumulated other comprehensive loss, net

of tax of $

8,221

8,581

(566,556)

Total stockholders’ equity

Total liabilities and stockholders’ equity

$

$

The accompanying notes are an integral part

of these statements.