First BanCorp Approves $350M Share Buyback and 25% Dividend Hike

Key Facts

1First BanCorp's Board of Directors approved a new $350 million stock repurchase program.

2The company announced a 25% increase in its quarterly cash dividend.

First BanCorp's Board of Directors approved a new $350 million stock repurchase program. Benzinga reported that the company also announced a 25% increase in its quarterly cash dividend following its financial performance in the third quarter of 2026.

FBNC closed at $61.57 on October 20, 2026, with the stock reaching a session high of $62.01 and a low of $60.42. These capital allocation measures serve as a signal of management's commitment to returning value to shareholders based on recent financial results.