Firstbank of Puerto Rico was established in 1949 and currently headquartered in Santurce, PR. Firstbank of Puerto Rico became an FDIC insured institution in 1949. The parent holding company of Firstbank of Puerto Rico is FIRST BANCORP. Firstbank of Puerto Rico converted to a commercial bank charter and changed its name to FirstBank of Puerto Rico in 1984. In 1987, FirstBank became a stockholder-owned savings bank and went public, trading on Nasdaq. A few years later, in 1993, it was listed on the New York Stock Exchange under the symbol FBP and reorganized into a holding company under the name First BanCorp in 1998.
FDIC Certificate #
30387
Bank Charter Class
Commercial Bank
Asset Concentration
Commercial Lending Specialization
Product Specialty
Commercial Banking Services, Personal Banking Services
Key Information & News
Number of Branches: 7 offices in the U.S.
Number of Employees: 2,695 employees.
Executives (Parent Holding Company)
CEO
Luis M. Beauchamp-Rodriguez
COO
Aurelio Aleman-Bermudez
CFO
Fernando Scherrer, C.P.A.
2008 News
First BankCorp reported net income for the third quarter of 2008 an increase of 74 percent over the same quarter a year ago. (September 29th, 2008).
The rating on FirstBank Puerto Rico (FirstBank) reflects its strong market position in Puerto Rico and commercial franchise value (December 9th, 2008).
2009 News
Moody’s downgrades FirstBank of Puerto Rico (March 6th, 2009).
First BanCorp. a bank holding company for FirstBank Puerto Rico, reported a decline in its first-quarter earnings, hurt in large part by higher provision for loan and lease losses (April 24th, 2009).
First BanCorp reported first quarter net income attributable to common stockholders of $6.77 million or $0.07 per share, compared to $23.52 million or $0.25 per share last year (April 27th, 2009).
