News & Events zu First BanCorp (FBP)FBPFirst BanCorp

First BanCorp Approves $350M Stock Buyback and Quarterly Dividend

First BanCorp announced that its Board of Directors approved the following capital actions: A new stock repurchase program of up to $350M of the Corporation's outstanding common stock that the company expects to be executed, at management's discretion, throughout 2027, subject to market conditions; this approval is in addition to the approximately $38.3M remaining under the stock repurchase program announced on October 22, 2025; The declaration of a quarterly cash dividend of 25c per share on its outstanding common stock, which represents an increase of 25% compared to its most recent dividend paid in September 2026. The dividend is payable on December 11, 2026 to shareholders of record at the close of business on November 27, 2026. Aurelio Aleman, President and Chief Executive Officer, stated, "We are pleased to announce that our Board of Directors approved a new stock repurchase program and a 25% increase in our quarterly dividend, reflecting the strength of our strong financial performance and disciplined capital management. Our approach will remain opportunistic, with repurchase activity calibrated to market conditions, valuation, and alternative capital deployment opportunities, while targeting capital levels that remain consistent with our long-term operating objectives."

First BanCorp Reports Q2 Tangible Book Value of $12.68

Reports Q2 tangible book value per share $12.68. Aurelio Aleman, President and Chief Executive Officer of First BanCorp, commented: "We concluded the first half of the year with another quarter of strong financial and operating performance, delivering growth across our franchise while continuing to generate attractive returns for shareholders. Adjusted pre-tax, pre-provision income reached a record of $137.5 million, earnings per share increased 24% compared to the prior year, and return on average assets was 2.02%, marking our 18th consecutive quarter above 1.5%. By many measures, this represents the strongest and most consistent period of performance in our company's history. This achievement reflects the trust our customers place in us, as well as the dedication, discipline, and execution demonstrated by our teams across the organization."

First BanCorp Denies Lawsuit Allegations

First BanCorp said it is aware that a lawsuit has been filed against it in the United States District Court for the Southern District of New York alleging claims relating to banking services provided to Jeffrey Epstein following a bank acquisition in the U.S. Virgin Islands. It added, "The Corporation and FirstBank categorically deny the claims alleged in the complaint and intend to vigorously defend against them. First BanCorp and FirstBank are committed to maintaining the highest standards of compliance, governance, and ethical conduct. As a highly regulated financial institution, FirstBank maintains a comprehensive Bank Secrecy Act and Anti-Money Laundering compliance program designed to meet its legal and regulatory obligations, and, as a matter of ongoing practice, works cooperatively with its regulators and, where appropriate, with law enforcement authorities in support of the integrity and potential misuse of the banking system. The Corporation is reviewing the complaint and will respond through the appropriate legal channels. Given that litigation is pending, FirstBank will not be providing further comment at this time."