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First Bancorp (FBP)

5.25 Up 0.20(3.96%) 3:20PM EDT - Nasdaq Real Time Price
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First Bancorp
First Federal Building
1519 Ponce de Le
Santurce, PR 00908
United States - Map
Phone: 787-729-8200

Index Membership:N/A
Industry:Foreign Regional Banks
Full Time Employees:2,458

Business Summary 

First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. Its Consumer (Retail) Banking segment provides various loans, including auto, boat, and personal loans; credit cards; lines of credit; deposit products, such as interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit; and offers finance leases and insurance services. The company’s Commercial and Corporate Banking segment provides commercial loans, including commercial real estate and construction loans, and floor plan financings; and other products comprising cash management and business management services, as well as is involved in the broker-dealer activities, such as the underwriting of bonds and financial advisory services provided to government entities. Its Mortgage Banking segment is involved in the origination, sale, and servicing of residential mortgage loans; acquisition and sale of mortgages in the secondary markets; and provision of mortgage loans purchased from other local banks and mortgage bankers. The company’s Treasury and Investments segment is engaged in the investment portfolio and treasury activities, such as funding and liquidity management. Its United States Operations segment offers retail and commercial banking products and services, including loans and deposit products, as well as Internet banking services, cash management services, remote data capture, and automated clearing house transactions. The company’s Virgin Islands Operations segment offers various loans and deposit products. It operates through its main office in San Juan, Puerto Rico and 47 full service banking branches in Puerto Rico; 10 branches in the U.S. Virgin Islands and the British Virgin Islands; and 10 branches in Florida. First BanCorp. was founded in 1948 and is headquartered in Santurce, Puerto Rico.

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Corporate Governance 
First Bancorp’s ISS Governance QuickScore as of Apr 1, 2014 is 10. The pillar scores are Audit: 5; Board: 8; Shareholder Rights: 4; Compensation: 10.
Brought to you by Institutional Shareholder Services (ISS)

Key Executives 
Mr. Aurelio Alem , 55
Chief Exec. Officer, Pres, Director, Member of Asset/Liability Committee, Member of Credit Committee and Director of Firstbank Puerto Rico
Mr. Orlando Berges-Gonz CPA, 56
Chief Financial Officer and Exec. VP
Mr. Lawrence Odell Esq., 66
Exec. VP, Gen. Counsel, Sec. and Sec. of FirstBank Puerto Rico
Mr. Calixto Garc , 46
Exec. VP of Florida Region and Florida Region Exec. of FirstBank Puerto Rico
Mr. T. Michael McDonald , 52
Exec. VP and Bus. Group Exec.
Amounts are as of Dec 31, 2012 and compensation values are for the last fiscal year ending on that date. Pay is salary, bonuses, etc.Exercised is the value of options exercised during the fiscal year.
Currency in USD.
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