First BanCorp is a publicly owned financial holding company located in

San Juan, Puerto Rico San Juan (, , ; Spanish for "Saint John") is the capital city and most populous municipality in the Commonwealth of Puerto Rico, an unincorporated territory of the United States. As of the 2020 census, it is the 57th-largest city under the jur ...

History

FirstBank was the first Savings & Loan institution established in Puerto Rico with a capital of $200,000 in 1948. Today, the company provides financial services for retail, commercial and institutional clients in

Puerto Rico Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated ...

US Virgin Islands The United States Virgin Islands,. Also called the ''American Virgin Islands'' and the ''U.S. Virgin Islands''. officially the Virgin Islands of the United States, are a group of Caribbean islands and an unincorporated and organized territory ...

British Virgin Islands ) , anthem = "God Save the King" , song_type = Territorial song , song = "Oh, Beautiful Virgin Islands" , image_map = File:British Virgin Islands on the globe (Americas centered).svg , map_caption = , mapsize = 290px , image_map2 = Brit ...

and

Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...

. First BanCorp is headquartered in

and is ranked the 669th and 1537th ''Largest Company In The World'' in

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

magazine by Total Assets and Profits. On 2006 it had over $18.8 billion in assets. As of May, 2016, First owed $124.97 million to the US government

Troubled Asset Relief Program The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President G ...

. In October 2019, FirstBank announced their intention to purchase

Banco Santander Banco Santander, S.A., doing business as Santander Group (, , Spanish: ), is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centres ...

de Puerto Rico. The transaction was approved by regulators on July 28, 2020 and should be completed by September 1, 2020.

Key leadership

* Mr. Aurelio Aleman-Bermudez Chief Exec. Officer, Pres, Director, * Mr. Orlando Berges-Gonzalez CPA Chief Financial Officer and Exec. VP

Direct competition in Puerto Rico

Popular, Inc. Popular, Inc., doing business as Banco Popular in Puerto Rico and the Virgin Islands and as Popular Bank in the mainland United States, is a financial services conglomerate that has operated in Puerto Rico for over 125 years and in the mainland ...

(BPOP) & OFG Bancorp (OFG)

References

External links

FirstBank Online
Banks of Puerto Rico Companies based in San Juan, Puerto Rico Companies listed on the New York Stock Exchange {{SanJuanPR-geo-stub