First Bancorp

For other banks with a similar name, see First Bank.

First Bancorp

Type	Public (NYSE: FBP)
Founded	San Juan, Puerto Rico
Headquarters	San Juan, Puerto Rico
Key people	Aurelio Aleman, President & CEO
Industry	Finance and Insurance
Products	Banking Checking Accounts Insurance stock brokerage Investment Bank Asset-Based Lending Consumer finance
Revenue	▲ 1.201 billion USD$ (2008) (2005)[1]
Net income	▲ 109.937 million USD$ (2008) (2005)[2]
Employees	2,237 (2005)[1]
Website	www.firstbankpr.com

A typical branch office, in Charlotte Amalie, USVI

First BanCorp is a financial holding company located in San Juan, Puerto Rico, which offers a full range of financial services in Puerto Rico, US Virgin Islands, the British Virgin Islands, and in the State of Florida through its wholly-owned subsidiaries. Its main subsidiary, FirstBank, is a business and consumer financial services company offering banking services, trust and brokerage services, and various types of loans. First BanCorp also provides auto lease financing and insurance services through other specialized subsidiaries. Its headquarters are located at 1519 Ponce De Leon Ave, in the Golden Mile District of Hato Rey, San Juan.

FirstBank’s chief assets and sources of income are its commercial loans, which mainly consist of commercial real estate loans and construction loans; consumer loans, which mainly consist of auto loans, personal loans and credit card loans; and residential mortgage loans. FirstBank operates through a network of 69 branches (2005) in Puerto Rico, the Virgin Islands and Florida. It shares the Florida market with various competitors including another First BanCorp subsidiary, UniBank. UniBank is a federal savings and loans institution with branches located in the southern Florida region.

Stats

• Ranked the 669th and 1,537th Largest Company In The World by Forbes by Total Assets and Profits, respectively (2005) )^[1].
• Has over $18.8 billion in assets (2006).
• Approx. 2,237 employees.
• Symbol: FBP (NYSE)

Subsidiaries

• FirstBank
• FirstBank Insurance Agency
• First Mortgage
• First Leasing, as rental corporation
• First Truck & Car Rental
• UniBank (Florida)

Competitors (in Puerto Rico)

• Banco Bilbao Vizcaya Argentaria
• Banco Popular de Puerto Rico
• Banco Santander
• Citibank
• Doral Bank
• Eurobank
• Oriental Financial Group, Inc.
• RG Premier Bank
• Scotiabank
• Westernbank

References

1. ^ ^{a b c} First BanCorp Corporate Information by Forbes.com
2. ^ First BanCorp (FBP) Company Financials by NASDAQ.com

External links

• Official Site (Puerto Rico)
• Virgin Islands Site
• Florida Site