Short answer
FIRST BANCORP /PR/ (FBP) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $1.0B (+6.7% year over year) and net income of $345M.
- Top risk flagged: Regulatory risk from Act 65-2025 enabling $16.6M deferred tax asset valuation allowance reversal
FY2025 key financial metrics · XBRL
- Revenue
- $1.0B
- +6.7% YoY
- Net income
- $345M
- +15.4% YoY
- EPS (diluted)
- $2.15
- +18.8% YoY
- ROE
- 17.5%
- −0.4 pp YoY
- Operating cash flow
- $449M
- +11.0% YoY
Source: XBRL data from the FIRST BANCORP /PR/ (FBP) FY2025 10-K on SEC EDGAR. USD.
FIRST BANCORP /PR/ FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: FDIC-insured commercial bank providing typical banking services under Puerto Rico banking laws
- New regulatory framework for leveraged lending adopted in December 2025 rescinding prior 2013 Guidance, shifting to principles-based management
- Strategic shift: adapting to increased FDIC deposit insurance assessments including a special assessment beginning June 2024 totaling $6.3 million accrued by year-end 2025
- Notable regulatory compliance updates: amendments to International Banking Center Act 52 effective May 2024, including increased license fees and minimum employment of 8 full-time staff
- Tax benefit recognition: $16.6 million valuation allowance reversal in 3Q 2025 due to Puerto Rico tax law changes allowing LLC disregarded entity election
Management Discussion & Analysis
- No cash flow, buybacks, dividends, or capex data presented in excerpt
- Forward-looking statements caution on uncertainties affecting future results and financial condition
- Risk factors referenced but not detailed in provided MD&A section
Risk Factors
- Regulatory risk from Act 65-2025 enabling $16.6M deferred tax asset valuation allowance reversal
- Macroeconomic threat from commercial real estate downturn increasing credit loss provision by $27.9M
- Supply chain impact from $2.8M valuation adjustment on commercial OREO property in Virgin Islands region
- Competitive risk from mortgage banking revenue vulnerability, contributing to non-interest income increase of only $1.4M
- Financial risk from redemption of $61.7M trust-preferred securities affecting capital deployment flexibility
Generated from the filing text; verify against the original. How to read a 10-K
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