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First Bancorp (FBP)


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5.61-0.01 (-0.18%)
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First Bancorp

First Federal Building
1519 Ponce de León Avenue
Santurce, PR 00908
United States
787-729-8200
http://www.firstbankpr.com

SectorFinancial
IndustryForeign Regional Banks
Full Time Employees2,701

Key Executives

NameTitlePayExercisedAge
Mr. Aurelio Alemán-BermudezChief Exec. Officer, Pres, Director and Director of Firstbank Puerto Rico999.67kN/A58
Mr. Orlando Berges-González CPAChief Financial Officer and Exec. VP609.61kN/A59
Mr. Donald L. KafkaCOO, Exec. VP and Chief Operating Officer of Firstbank Puerto Rico555.24kN/A57
Mr. Cassan A. PanchamExec. VP, Bus. Group Exec. and Exec. VP of FirstBank Puerto Rico524.12kN/A56
Mr. Calixto García-VélezEVP, Special Assets Group Director & Florida Region Exec.624.19kN/A49
Amounts are as of December 31, 2016 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.

Description

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 Commercial and Corporate Banking segment offers commercial real estate and construction loans, and floor plan financings, as well as cash and business management services; and underwrites municipal securities, and other investment banking services. The company’s Consumer (Retail) Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; and deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit, as well as engages in the finance leasing and insurance activities. Its Mortgage Banking segment is involved in the origination, sale, securitization, and servicing of various residential mortgage loan products and related hedging activities; 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 engages in the treasury and investment management activities, such as funding and liquidity management. Its United States Operations segment offers checking, savings, and money market accounts; and residential mortgages, home equity loans, lines of credit, and automobile loans, as well as retail certificates of deposits, Internet banking services, remote data capture, automated clearing house transactions, and commercial real estate products. The company’s Virgin Islands Operations segment is involved in the consumer, commercial lending, and deposit-taking activities. As of December 31, 2016, it operated 48 branches in Puerto Rico, 11 branches in the U.S. Virgin Islands and British Virgin Islands, and 11 branches in the state of Florida. The company was founded in 1948 and is headquartered in Santurce, Puerto Rico.

Corporate Governance

First Bancorp’s ISS Governance QualityScore as of June 2, 2017 is 8. The pillar scores are Audit: 1; Board: 9; Shareholder Rights: 4; Compensation: 10.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk.