First Bancorp. - Company Profile
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Business Description
First BanCorp. (FB) offers retail and corporate banking, insurance, and treasury and investment solutions to commercial, retail, and institutional clients through its principal subsidiary - FirstBank. First Bank also offers various reward programs and special offers.
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Business Segments
- Commercial and Corporate
- Consumer (Retail) Banking
- Mortgage Banking
- Treasury and Investments
- United States Operations
- Virgin Islands Operations
Overview
Caters to public sector and specialized and middle-market clients in Puerto Rico. Provides loans for commercial real estate and construction, business and cash management, and broker-dealer activities.
Performance
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Overview
Provides banking and related financial solutions to individuals in Puerto Rico Includes lending for auto, personal, and boat, deposits, lines of credit, credit cards, savings accounts, individual retirement account, checking accounts, and certificate of deposits. Also comprises leasing and insurance solutions.
Performance
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Overview
Comprises origination, sale, and servicing of residential mortgages and hedging activities in Puerto Rico. Originations channels include buying from mortgage banker; FirstBank branches; new project developers collaborations.
Performance
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Overview
Engaged in the company’s funding and liquidity administration. Provides lending to other segments in Puerto Rico.
Performance
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Overview
Provides banking solutions to commercial and retail clients mainly in southern Florida.
Performance
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Overview
Provides banking and related financial solutions to retail and corporate clients in the British Virgin Islands and US Virgin Islands.
Performance
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Geographical Segments
Capital Expenditure
Reported revenue of US$981.3 million for FY2023, which grew 14.7% YoY, and recorded a CAGR of 11.1% during 2021-23. Puerto Rico accounted for 84.9% of the company's revenue in FY2023.
Performance
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Performance
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