FBP · First BanCorp (Puerto Rico) Q2 FY2026 earnings call record财报电话会记录

“Regarding capital deployment, consistent with prior quarters, we completed our $50 million of share buybacks, and we paid a $0.20 per share dividend.”

“While on the other hand, industry-wide sales continue to reflect the impact of tariffs, the recent trends for the last quarter suggest that the market is beginning to normalize with June industry-wide auto sales down 3%, only 3% year-over-year.”

“That said, we're sustaining our loan growth guidance target of 3%-5% for the year, obviously looking forward to achieve that in the second half of the year.”

“This quarter, replay has become a hallmark in our franchise, strong profitability, disciplined risk management, robust capital generation,and what is most important is consistent execution across our different cycles.”

“Our net interest margin on a GAAP basis was 47, a 12 basis points increase when compared to the previous quarter.”

“We expect for the remainder of 2026, our margin to expand by 3-5 basis points per quarter out of the 480 base.”

“Excluding the aforementioned inflow in the Florida region, inflows to unaccruals were $8.4 million lower than the prior quarter, mostly driven by a $4.6 million decrease on the auto finance lease portfolio.”

“Early delinquency in the consumer portfolio, if we compare it to December 2025, is actually lower by approximately $10.3 million.”

“Capital remains strong and our healthy and consistent profitability levels have enabled us to repurchase $15 million shares of common stocks and declare $31 million in dividends.”

“Tangible book value per share grew to $12.68, while tangible common equity ratio decreased 3 basis points to 10.08%, mainly related to growth in tangible assets.”

“Overall, we're very satisfied with the results for the second quarter and remain focused on supporting our clients and growing our business, while delivering close to 100% of earnings to shareholders in the form of buybacks and dividends.”

“Should we expect a catch up with the buyback or special dividend later this year?”