First BanCorp. (NYSE:FBP) Q2 2023 Earnings Conference Call July 27, 2023 10:00 AM ET
Company Participants
Ramon Rodriguez - Investor Relations Officer
Aurelio Aleman - President & Chief Executive Officer
Orlando Berges - Executive Vice President & Chief Financial Officer
Conference Call Participants
Timur Braziler - Wells Fargo
Kelly Motta - KB
Alex Twerdahl - Piper Sandler
Brett Rabatin - Hovde Group
Operator
Good morning and welcome to the First Bancorp. Second Quarter 2023 Financial Results Call. My name is Candice and I will be your moderator for today's call. [Operator Instructions]
I would now like to turn the call over to our host Ramon Rodriguez Investor Relations Officer. Please go ahead.
Ramon Rodriguez
Thank you Candice. Good morning everyone and thank you for joining First BanCorp's conference call and webcast to discuss the company's financial results for the second quarter of 2023. Joining you today from First BanCorp. are Aurelio Aleman, President and Chief Executive Officer and Orlando Berges, Executive Vice President and Chief Financial Officer.
Before we begin today's call, it is my responsibility to inform you that this call may involve certain forward-looking statements such as projections of revenue, earnings, and capital structure as well as statements on the plans and objectives of the company's business.
The company's actual results could differ materially from the forward-looking statements made due to the important factors described in the company's latest SEC filings.
The company assumes no obligation to update any forward looking statements made during the call. If anyone does not already have a copy of the webcast presentation or press release, you can access them at our website at fbpinvestor.com.
At this time, I'd like to turn the call over to our CEO, Aurelio Aleman.
Aurelio Aleman
Thank you, Ramon. Good morning to everyone and thanks for joining our call today. Once again I have to say that we're very pleased to report strong results for our franchise. We earned $70.7 million or $0.39 per share during the quarter, which translated into a solid 1.51% return on assets.
Pretax pre-provision was flat, continued strong when compared to previous quarter. A slight reduction in net interest income was offset by lower expenses and higher non-interest revenues.
The provision for credit losses increased to $22.2 million and credit quality remained stable with non-performing assets representing just 63 basis points of total assets. All-in a great quarter with most KPIs moving in the right direction.