FBP Profile
First BanCorp. serves as the bank holding company overseeing FirstBank Puerto Rico, offering a comprehensive range of financial services tailored to retail, commercial, and institutional clients. Organized into six distinct segments Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations the company provides diverse financial solutions to meet the needs of its varied clientele.
The Commercial and Corporate Banking segment focuses on commercial loans, including financing for real estate development and construction, as well as floor plan financing for businesses. It also provides cash management and business management services to enhance operational efficiency for corporate clients. Meanwhile, the Mortgage Banking segment engages in the origination, sale, and servicing of residential mortgage loans, actively participating in the secondary mortgage markets.
In the realm of Consumer (Retail) Banking, First BanCorp. offers a range of consumer loans such as auto, boat, and personal loans, alongside credit card services and lines of credit. Deposit products include interest-bearing and non-interest-bearing checking and savings accounts, individual retirement accounts (IRAs), and retail certificates of deposit (CDs). Additionally, the segment provides finance leasing and insurance agency services to cater to individual financial needs.
The Treasury and Investments segment plays a crucial role in managing funding and liquidity, ensuring stability and strategic allocation of resources. Operations extend beyond Puerto Rico, encompassing the United States and Virgin Islands, where the company offers a variety of banking services including checking, savings, money market accounts, and traditional commercial loans. With a network of 64 branches in Puerto Rico, 8 branches in the U.S. Virgin Islands and British Virgin Islands, and 11 branches in Florida, First BanCorp. is well-positioned to deliver comprehensive financial solutions across its diverse markets.
Founded in 1948 and headquartered in San Juan, Puerto Rico, First BanCorp. continues to uphold its legacy of financial excellence and community service. The company remains committed to fostering economic growth and financial stability within the regions it serves, leveraging its extensive expertise and customer-centric approach to meet the evolving needs of its clients and stakeholders.
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