First BanCorp

{{About|the Puerto Rico–based bank|the North Carolina–based bank|First Bancorp||First Bank (disambiguation){{!}}First Bank}}

{{Infobox company

| name = First Bancorp

| logo = First BanCorp logo.png

| logo_size = 250px

| type = Public

| traded_as = {{NYSE|FBP}}
S&P 600 component

| foundation = {{Start date and age|1948}}

| location = San Juan, Puerto Rico

| key_people = Aurelio Aleman
(President and CEO){{cite journal | author = People | url =https://www.reuters.com/finance/stocks/companyOfficers?symbol=FBP&WTmodLOC=C4-Officers-5 | title = FIRST BANCORP (PUERTO RICO) (FBP) | journal = Reuters | date = 2010-07-14 | accessdate = 2010-07-14 }}

| industry = Banking
Financial services

| products = Checking accounts
Insurance and mortgage
Investment banking & services Consumer finance + ABL

| revenue = {{profit}} 1.201 billion USD$ (2008)[https://web.archive.org/web/20070311102915/http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=FBP First BanCorp Corporate Information] by Forbes.com

| operating_income =

| net_income = {{profit}} 75.838 million USD$ (Q2 2024)https://www.fbpinvestor.com/resources/news/press-release-details/2024/First-BanCorp.-Announces-Earnings-for-the-Quarter-Ended-June-30-2024/default.aspx

| num_employees = 3,000 (2009)

| homepage = {{URL|https://www.1firstbank.com/}}

}}

File:Charlotte Amalie First Bank.jpg]]

First BanCorp is a publicly traded financial holding company located in San Juan, Puerto Rico.

History

FirstBank was the first Savings & Loan institution established in Puerto Rico with a capital of $200,000 in 1948. Today, the company provides financial services for retail, commercial and institutional clients in Puerto Rico, US Virgin Islands, British Virgin Islands and Florida.{{cite journal | author = First BanCorp | url =http://www.snl.com/irweblinkx/corporateprofile.aspx?iid=4041406&Itemid=1117&lang=en | title = Corporate Overview | journal = First BanCorp | date = 2010-07-14 | accessdate = 2010-07-14 }} First BanCorp is headquartered in San Juan, Puerto Rico and is ranked the 669th and 1537th Largest Company In The World in Forbes magazine by Total Assets and Profits. On 2006 it had over $18.8 billion in assets.

As of May, 2016, First owed $124.97 million to the US government Troubled Asset Relief Program.United States Government Accountability Office, [http://www.gao.gov/assets/680/676954.pdf "TROUBLED ASSET RELIEF PROGRAM - Capital Purchase Program Largely Has Wound Down"], United States Government Accountability Office via Report to Congressional Committees, May 2016. Retrieved 2016-06-06.

In October 2019, FirstBank announced their intention to purchase Banco Santander de Puerto Rico. The transaction was approved by regulators on July 28, 2020 and should be completed by September 1, 2020.{{Cite news |date=2020-07-28 |title=First BanCorp. Receives Regulatory Approval for Acquisition of Banco Santander Puerto Rico |url=https://www.businesswire.com/news/home/20200728005299/en/BanCorp.-Receives-Regulatory-Approval-Acquisition-Banco-Santander |work=Business Wire}}

Key leadership

Mr. Aurelio Aleman-Bermudez{{Cite web|url=https://www.wsj.com/market-data/quotes/FBP/company-people/executive-profile/20693|title=FBP Company Profile & Executives - First BanCorp (Puerto Rico) - Wall Street Journal|website=www.wsj.com|access-date=2020-01-28}}

Chief Exec. Officer, Pres, Director,

Mr. Orlando Berges-Gonzalez CPA{{Cite web|url=https://www.wsj.com/market-data/quotes/FBP/company-people/executive-profile/54152833|title=FBP Company Profile & Executives - First BanCorp (Puerto Rico) - Wall Street Journal|website=www.wsj.com|access-date=2020-01-28}}

Chief Financial Officer and Exec. VP

Direct competition in Puerto Rico

Banco Popular de Puerto Rico (BPOP) & OFG Bancorp (OFG)

References

External links

[http://www.firstbankpr.com/index.php?lang=en FirstBank Online]

Category:Banks of Puerto Rico

Category:Companies based in San Juan, Puerto Rico

Category:Companies listed on the New York Stock Exchange

Category:Banks established in 1948

Category:1948 establishments in Puerto Rico