MEDIUMBuilt-inGeographic
Puerto Rico
“10-K Item 1A: 'A significant portion of our business activities and credit exposure is concentrated in Puerto Rico, which has faced prolonged economic and fiscal challenges.'”
FBP · Concentration risk · 10-K extracted
First BanCorp. New (FBP) concentration risks
Updated
The most significant concentration First BanCorp. New discloses is Puerto Rico, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: First BanCorp. New’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH0
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile is geographic, with a medium-share exposure to a single island jurisdiction that carries its own distinctive economic and fiscal risk profile. A significant portion of business activities and credit exposure is concentrated in Puerto Rico, which has faced prolonged economic and fiscal challenges. By disclosed size this is a moderate exposure with a structural character — Puerto Rico is the company's primary operating territory and the base of its franchise, so the concentration reflects where the institution was built rather than a transient portfolio allocation. The structural character means this exposure cannot be quickly diversified away. Puerto Rico's prolonged fiscal and economic challenges — including elevated unemployment, population emigration, and a history of municipal debt restructuring — create a credit environment that differs materially from mainland U.S. banking markets. Loan credit quality, deposit growth, and fee income are all partially a function of the territory's economic recovery trajectory and fiscal health, which in turn depend on factors including federal policy, disaster recovery funding, and local government performance. No customer, product, or supplier concentrations are separately disclosed. The Puerto Rico geographic exposure is the sole disclosed risk driver, but it is a particularly distinctive one given the territory's sui generis economic and political status. Investors should monitor Puerto Rico's GDP growth, federal transfer payment flows, and any developments in the territory's fiscal management as the primary macro variables affecting credit outcomes and growth prospects in this concentration profile.
For the engine’s reasoning on FBP’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Banks - Regional
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ASB | Associated Banc-Corp | 2 | 3 | 0 | 5 |
| BANC | Banc of California, Inc. | 2 | 0 | 0 | 2 |
| AX | Axos Financial, Inc. | 1 | 1 | 0 | 2 |
| AUB | Atlantic Union Bankshares Corpo | 0 | 3 | 0 | 3 |
| FBP● | First BanCorp. New | 0 | 1 | 0 | 1 |
| ABCB | Ameris Bancorp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.