Q1 Revenue Reaches $185.8M with 5.36% Net Interest Margin
Reports Q1 revenue $185.8M vs. $178.3M last year. Net interest margin of 5.36%, return on average assets of 1.78%, return on average tangible common stockholders' equity of 16.43%, and efficiency ratio of 50.97%. CET1 ratio was 13.75% compared to 13.97% in 4Q25 and 14.27% in 1Q25. Tangible Common Equity ratio was 10.66% compared to 10.47% in 4Q25 and 10.30% in 1Q25. Tangible Book Value per share was $30.14 compared to $29.96 in 4Q25 and $26.66 in 1Q25. Jose Rafael Fernandez, Chief Executive Officer, said: "Business momentum and disciplined strategy execution drove strong first quarter results, supported by proactive balance sheet management and core deposit strength. Our operating model continues to deliver, with ongoing loan growth, high quality credit performance, and consistent execution across the franchise. During the quarter, we repurchased $44.5 million of common shares and increased our dividend by 17%, reinforcing our commitment to capital management and shareholder returns. Our positioning as a digital bank that values personal connections continues to deliver tangible results. Increased use of our Libre and Elite retail products, as well as My Biz commercial accounts, contributed to deposit expansion and greater customer engagement and growth. This progress has enabled us to further optimize our funding mix and reduce reliance on wholesale funding, even amid the normalization of government deposits.Puerto Rico's economy is stable, with federal reconstruction funds and private investment supporting continued activity, particularly in manufacturing and onshoring. This environment, combined with our focus on operational excellence, positions us well to continue to deliver solid financial performance and to take advantage of long-term growth prospects."
