First BanCorp shares edge higher after second-quarter earnings top expectations

First BanCorp (NYSE:FBP) reported better-than-expected second-quarter 2026 results, with adjusted earnings per share of $0.62 surpassing the consensus estimate of $0.54. Revenue reached $264.86 million, slightly above the forecast of $264.13 million. Net income rose 24% year-over-year to $96.1 million, driven by higher net interest income and strong loan growth. Loan originations increased 21% to $1.7 billion, primarily from commercial lending in Puerto Rico. Net interest margin expanded to 4.87% from 4.56%. Credit quality remained resilient, with non-performing assets at 0.59% of total assets. Shares rose 1.23% in premarket trading following the earnings release.