FirstBank Florida · Miami, FL United States
Company Description
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This link will open in a new window FirstBank Florida wants to be your first, last, and only bank if you live in the Miami area. Formerly named Unibank, the company operates roughly 10 branches in and around Miami. It provides traditional deposit products such as personal and business checking, savings, money market, and individual retirement accounts, as well as loan products such as mortgages and home equity loans. Residential mortgages account for the majority of FirstBank Florida's lending portfolio. The rest of the bank's portfolio is composed of commercial, construction, business, and consumer loans. Puerto Rico's First BanCorp bought Unibank and its parent, Ponce General Corporation, in 2005. To read the full description, subscribe now.
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Key FirstBank Florida Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $13.3 |
| Employees | 69 |
FirstBank Florida Executives
10 executives listed for FirstBank Florida's Miami, FL location.
| Title | Name & Bio | Contact |
| Chairman | Elias Ason | Network |
| President and CEO | Jose Valle | Network |
| EVP and Senior Lending Officer | James Paulhus | Network |
Competition
Competitive Landscape for FirstBank Florida
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top FirstBank Florida Competitors
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