First BanCorp
 | |
| Company type | Public |
|---|---|
| NYSE: FBP S&P 600 component | |
| Industry | Banking Financial services |
| Founded | 1948 |
| Headquarters | San Juan, Puerto Rico |
Key people | Aurelio Aleman (President and CEO)[1] |
| Products | Checking accounts Insurance and mortgage Investment banking & services Consumer finance + ABL |
| Revenue |  1.201 billion USD$ (2008)[2] |
| 75.838 million USD$ (Q2 2024)[3] | |
Number of employees | 3,000 (2009) |
| Website | www |
First BanCorp is a publicly traded financial holding company located in San Juan, Puerto Rico.
History
[edit]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.[4] 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.[5]
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.[6]
Key leadership
[edit]- Mr. Aurelio Aleman-Bermudez[7]
Chief Exec. Officer, Pres, Director,
- Mr. Orlando Berges-Gonzalez CPA[8]
Chief Financial Officer and Exec. VP
Direct competition in Puerto Rico
[edit]- Banco Popular de Puerto Rico (BPOP) & OFG Bancorp (OFG)
References
[edit]- ^ People (2010-07-14). "FIRST BANCORP (PUERTO RICO) (FBP)". Reuters. Retrieved 2010-07-14.
- ^ First BanCorp Corporate Information by Forbes.com
- ^ https://www.fbpinvestor.com/resources/news/press-release-details/2024/First-BanCorp.-Announces-Earnings-for-the-Quarter-Ended-June-30-2024/default.aspx
- ^ First BanCorp (2010-07-14). "Corporate Overview". First BanCorp. Retrieved 2010-07-14.
- ^ United States Government Accountability Office, "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.
- ^ "First BanCorp. Receives Regulatory Approval for Acquisition of Banco Santander Puerto Rico". Business Wire. 2020-07-28.
- ^ "FBP Company Profile & Executives - First BanCorp (Puerto Rico) - Wall Street Journal". www.wsj.com. Retrieved 2020-01-28.
- ^ "FBP Company Profile & Executives - First BanCorp (Puerto Rico) - Wall Street Journal". www.wsj.com. Retrieved 2020-01-28.
External links
[edit]
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