First BanCorp Q2 earnings beat estimates; adj EPS $0.62 vs consensus $0.54

Fiona Craig Wed, July 22, 2026 at 5:38 AM PDT | 2 min read

• FBP -0.03%

Strong Quarterly Results Exceed Wall Street Forecasts

First BanCorp. (NYSE:FBP) reported better-than-expected second-quarter 2026 results on Wednesday, as higher net interest income and continued loan growth helped drive a solid increase in profitability.

The bank posted adjusted earnings per share of $0.62, surpassing analysts' consensus estimate of $0.54 by $0.08. Revenue reached $264.86 million, slightly ahead of the market forecast of $264.13 million.

Following the earnings release, shares of First BanCorp. rose 1.23% in premarket trading.

Net income increased to $96.1 million, or $0.62 per diluted share, compared with $80.2 million, or $0.50 per diluted share, in the same quarter of 2025, representing a 24% year-over-year increase in earnings per share.

Revenue climbed 6% from $246.81 million recorded a year earlier.

Profitability Remains a Key Strength

The bank continued to deliver strong returns, with return on average assets reaching 2.02%.

The latest quarter marked the 18th consecutive reporting period in which return on average assets remained above 1.5%.

"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." — Aurelio Alemán, President and Chief Executive Officer

Net interest income increased to $229.1 million from $215.9 million in the prior-year quarter, while net interest margin expanded to 4.87% from 4.56%.

Loan Growth Accelerates

Loan production remained strong throughout the quarter.

• Loan originations rose 21% year over year to $1.7 billion, driven primarily by commercial lending activity in Puerto Rico.
• Total loans held for investment increased to $13.26 billion, compared with $12.88 billion at the end of 2025, reflecting continued balance sheet expansion.

Credit Quality Remains Resilient

First BanCorp. continued to report healthy asset quality metrics during the quarter.

• The provision for credit losses declined to $17.3 million from $20.6 million a year earlier.
• Net charge-offs improved to an annualised 0.49% of average loans, down from 0.60% in the second quarter of 2025.
• Non-performing assets remained close to historic lows, representing just 0.59% of total assets.

First BanCorp stock price

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