First BanCorp Reports Q1 Profit Growth and Revenue Increase

First BanCorp (FBP) has announced its financial results for the first quarter of 2026, reporting a year-over-year increase in both net income and total revenue. The results indicate a steady growth trajectory for the institution, with bottom-line figures showing a marked improvement over the same period in the prior year. The company reported earnings of $88.77 million, translating to $0.57 per share, up from $77.05 million or $0.47 per share in the first quarter of the previous year. Adjusted earnings for the period were reported at $88.72 million, or $0.57 per share. Total revenue for the quarter rose slightly by 1.0%, reaching $279.84 million, compared to $277.06 million in the prior year's first quarter. This modest top-line growth was accompanied by a more significant expansion in net profit. While the revenue growth was incremental, the expansion in net income suggests improved operational efficiency or higher net interest margins. Investors will likely view the EPS growth as a positive signal for the bank's short-term performance and stability.