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First BanCorp
-4.93%
Financial services / Banking and Financial Services
At a Glance | Core Facts | Company Due Diligence: | Industry Due Diligence: | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | WebOverview
First BanCorp is a bank holding company headquartered in San Juan, Puerto Rico. It was founded in 1948 as the first commercial bank in Puerto Rico and is currently the second-largest bank on the island. The company’s primary subsidiaries are FirstBank Puerto Rico, FirstBank Florida, FirstMortgage, and First Bank Insurance Services.
First BanCorp provides a wide range of financial services, including personal and business banking, mortgage services, wealth management, and insurance services. It has a strong presence in Puerto Rico, Florida, and the US Virgin Islands, with over 50 branches and 25 loan production offices.
The company is committed to supporting the communities it serves and has initiatives in place to promote economic development and education. It also has a strong focus on environmental sustainability and has implemented various initiatives to reduce its carbon footprint and promote conservation.
First BanCorp is listed on the New York Stock Exchange under the ticker symbol FBP and is a member of the S&P 600 Index. It is regulated by the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC).
First BanCorp provides a wide range of financial services, including personal and business banking, mortgage services, wealth management, and insurance services. It has a strong presence in Puerto Rico, Florida, and the US Virgin Islands, with over 50 branches and 25 loan production offices.
The company is committed to supporting the communities it serves and has initiatives in place to promote economic development and education. It also has a strong focus on environmental sustainability and has implemented various initiatives to reduce its carbon footprint and promote conservation.
First BanCorp is listed on the New York Stock Exchange under the ticker symbol FBP and is a member of the S&P 600 Index. It is regulated by the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC).
What is special about the company?
1. Oldest and largest financial institution in Puerto Rico: First BanCorp was founded in 1948 and has since grown to become the largest financial institution in Puerto Rico.
2. Strong presence in the US and Puerto Rico: The company has over 350 branches and ATMs spread across Puerto Rico and the mainland United States.
3. Diverse portfolio of financial products and services: The company offers a wide range of financial products and services, including commercial, mortgage, and consumer loans, credit cards, and investment and insurance products.
4. Strong financial performance: First BanCorp has consistently delivered strong financial results, with consistent growth in revenues, assets, and profitability.
5. Commitment to corporate social responsibility: The company has a strong commitment to giving back to the community through various social and environmental initiatives.
6. Technological innovation: First BanCorp leverages technology to enhance customer experience and offers convenient and secure digital banking solutions.
7. Strong corporate governance: The company has a well-established system of corporate governance, ensuring transparency, accountability, and ethical business practices.
8. Embraces diversity and inclusion: First BanCorp promotes diversity and inclusion within its workforce and is committed to creating an inclusive work environment for all employees.
9. Recognized for excellence: The company has received numerous awards and recognition for its financial performance, corporate social responsibility, and workplace culture.
10. Strong leadership: First BanCorp is led by a team of highly experienced leaders with a strong track record in the financial industry, providing stability and strategic vision for the company’s continued success.
2. Strong presence in the US and Puerto Rico: The company has over 350 branches and ATMs spread across Puerto Rico and the mainland United States.
3. Diverse portfolio of financial products and services: The company offers a wide range of financial products and services, including commercial, mortgage, and consumer loans, credit cards, and investment and insurance products.
4. Strong financial performance: First BanCorp has consistently delivered strong financial results, with consistent growth in revenues, assets, and profitability.
5. Commitment to corporate social responsibility: The company has a strong commitment to giving back to the community through various social and environmental initiatives.
6. Technological innovation: First BanCorp leverages technology to enhance customer experience and offers convenient and secure digital banking solutions.
7. Strong corporate governance: The company has a well-established system of corporate governance, ensuring transparency, accountability, and ethical business practices.
8. Embraces diversity and inclusion: First BanCorp promotes diversity and inclusion within its workforce and is committed to creating an inclusive work environment for all employees.
9. Recognized for excellence: The company has received numerous awards and recognition for its financial performance, corporate social responsibility, and workplace culture.
10. Strong leadership: First BanCorp is led by a team of highly experienced leaders with a strong track record in the financial industry, providing stability and strategic vision for the company’s continued success.
What the company's business model?
The First BanCorp company’s business model is a financial services holding company, providing a range of banking and financial products and services to individuals, businesses, and government entities in Puerto Rico and the US Virgin Islands. Its main operations include commercial and retail banking, mortgage lending, wealth management, and insurance services. The company aims to grow its customer base and increase profitability through a combination of organic growth, strategic acquisitions, and cost management strategies. Additionally, First BanCorp is committed to supporting the communities it serves through philanthropic initiatives and sustainable business practices.
Interesting facts about the company
1. Founded in 1948, First BanCorp is the leading financial institution in Puerto Rico, with over $13 billion in assets.
2. It is a publicly-traded company listed on the New York Stock Exchange under the ticker symbol FBP.
3. The company offers a wide range of financial services, including banking, insurance, and wealth management, to individuals and businesses in Puerto Rico, the US Virgin Islands, and the British Virgin Islands.
4. First BanCorp has 53 branches and 2 loan production offices across its operating regions, with a team of over 2,000 employees.
5. The company has a strong community focus and is actively involved in charitable giving and community service initiatives.
6. In 2018, First BanCorp was recognized as the Best Banking Group in Puerto Rico by World Finance Magazine.
7. The company has received numerous awards and recognitions for its excellence in financial services, including being ranked among the top 50 best-performing banks in the US by S&P Global Market Intelligence.
8. First BanCorp has a strong commitment to environmental sustainability and was the first bank in Puerto Rico to receive the ISO 14001 certification for its environmental management practices.
9. In 2017, First BanCorp announced a partnership with the Puerto Rico Conservation Trust to protect and conserve over 25,000 acres of land in Puerto Rico.
10. Despite facing financial challenges in the wake of Hurricane Maria in 2017, First BanCorp has remained a strong and stable financial institution, demonstrating its resilience and commitment to its customers and communities.
See Company Due Diligence:
2. It is a publicly-traded company listed on the New York Stock Exchange under the ticker symbol FBP.
3. The company offers a wide range of financial services, including banking, insurance, and wealth management, to individuals and businesses in Puerto Rico, the US Virgin Islands, and the British Virgin Islands.
4. First BanCorp has 53 branches and 2 loan production offices across its operating regions, with a team of over 2,000 employees.
5. The company has a strong community focus and is actively involved in charitable giving and community service initiatives.
6. In 2018, First BanCorp was recognized as the Best Banking Group in Puerto Rico by World Finance Magazine.
7. The company has received numerous awards and recognitions for its excellence in financial services, including being ranked among the top 50 best-performing banks in the US by S&P Global Market Intelligence.
8. First BanCorp has a strong commitment to environmental sustainability and was the first bank in Puerto Rico to receive the ISO 14001 certification for its environmental management practices.
9. In 2017, First BanCorp announced a partnership with the Puerto Rico Conservation Trust to protect and conserve over 25,000 acres of land in Puerto Rico.
10. Despite facing financial challenges in the wake of Hurricane Maria in 2017, First BanCorp has remained a strong and stable financial institution, demonstrating its resilience and commitment to its customers and communities.
See Company Due Diligence:
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