FBP - First BanCorp.

NYSE - NYSE Delayed Price. Currency in USD

First BanCorp.

First Federal Building
1519 Ponce de León Avenue Stop 23
Santurce, PR 00927
United States
787-729-8200
http://www.1firstbank.com

Sector : Financial Services
Industry : Banks - Regional - US
Full Time Employees : 2,643

Key Executives

Name Title Pay Exercised Year Born
Mr. Aurelio Alemán-Bermudez Pres, CEO & Director 2.42M N/A 1959
Mr. Orlando Berges-González CPA, CPA Exec. VP & CFO 1.13M N/A 1958
Mr. Donald L. Kafka Exec. VP & COO 888.04k N/A 1960
Ms. Nayda Rivera-Batista CPA Exec. VP & Chief Risk Officer 874.37k N/A 1973
Mr. Calixto García-Vélez Exec. VP & Florida Region Exec. 1.03M N/A 1968
Amounts are as of December 31, 2018 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. The company operates in six segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations. The Commercial and Corporate Banking segment offers commercial real estate and construction loans, floor plan financing, and cash and business management services, as well as broker-dealer services. The Consumer (Retail) Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit (CDs); finance leasing and insurance services. The Mortgage Banking segment is involved in the origination, sale, and servicing of various residential mortgage loan products and related hedging activities; and acquisition and sale of mortgages in the secondary markets. The Treasury and Investments segment engages in the treasury and investment management activities, such as funding and liquidity management. The United States Operations segment offers checking, savings, and money market accounts, as well as retail CDs; and residential mortgages, home equity loans, lines of credit, automobile loans, and term loans, as well as Internet banking, cash management, remote data capture, automated clearing house transaction services. The Virgin Islands Operations segment is involved in the consumer, commercial lending, and deposit-taking activities. As of December 31, 2018, the company operated 46 branches in Puerto Rico, 11 branches in the U.S. Virgin Islands and British Virgin Islands, and 10 branches in the state of Florida. First BanCorp. was founded in 1948 and is headquartered in Santurce, Puerto Rico.

Corporate Governance

First BanCorp.’s ISS Governance QualityScore as of July 29, 2019 is 5. The pillar scores are Audit: 5; Board: 5; Shareholder Rights: 5; Compensation: 4.

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.