First BanCorp. · Santurce, PR United States ·(NYSE: FBP)
Company Description
Phone: 787-729-8200
Fax: 787-729-8205
Rankings
- S&P 600
View First BanCorp. Locations On A US Map
This link will open in a new window
This link will open in a new window Not to be confused with North Carolina's First Bancorp , this First BanCorp is the holding company for FirstBank Puerto Rico and FirstBank Florida. The company offers banking, mortgage, and insurance services from around 75 locations on the island, the US, and the US and British Virgin Islands. Commercial lending, including business, construction, and mortgage loans, represents more than half of First BanCorp's loan portfolio; residential mortgages make up about another quarter. FirstBank owns Money Express La Financiera, a consumer loan company with nearly 40 offices throughout Puerto Rico, and car rental agency First Leasing and Rental, which has about 10 locations. To read the full description, subscribe now.
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!
Key First BanCorp. Financials
| Company Type | Public - NYSE: FBP Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $602.5 |
| 2008 Employees | 2,995 |
First BanCorp. Executives
35 executives listed for First BanCorp.'s Santurce, PR location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | Luis Beauchamp | Network |
| SEVP, COO, and Director | Aurelio Alemán | Network |
| EVP and CFO | Orlando Berges | Network |
Competition
Competitive Landscape for First BanCorp.
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 First BanCorp. Competitors
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!