First BanCorp. (FBP)

17.16 -0.07 (-0.41%) At close: 04:00PM EDT

First BanCorp.

1519 Ponce de Leon Avenue
Stop 23
San Juan, PR 00908-0146
United States
787 729 8200
https://www.1firstbank.com

Sector(s): Financial Services
Industry: Banks - Regional
Full-time employees: 3,168

Key executives

Name	Title	Pay	Exercised	Year born
Mr. Aurelio Aleman-Bermudez	President, CEO & Director	2.41M	N/A	1959
Mr. Orlando Berges-González CPA	Executive VP & CFO	930.27k	N/A	1958
Mr. Donald L. Kafka	Executive VP & COO	837.45k	N/A	1960
Mr. Cassan A. Pancham	Executive VP & Business Group Director	731.82k	N/A	1961
Ms. Nayda Rivera-Batista CPA	Executive VP & Chief Risk Officer	820.4k	N/A	1973
Mr. Said Ortiz CPA	Chief Accounting Officer, Controller & Senior VP	N/A	N/A	N/A
Ramon Rodriguez C.F.A.	Senior Vice President of Corporate Strategy / Investor Relations	N/A	N/A	N/A
Ms. Sara Alvarez-Cabrero	Executive VP, General Counsel & Secretary of the Board	N/A	N/A	1975
Ms. Ginoris Lopez-Lay	Executive VP & Strategic Management Director	N/A	N/A	1968
Mr. Thomas Michael McDonald	Executive VP & Business Group Director	496.34k	N/A	1962

Amounts are as of 31 December 2023, and compensation values are for the last fiscal year ending on that date. Pay includes salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in USD.

Description

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to consumers and commercial customers. The company operates through six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans, as well as other products, such as cash management and business management services. The Mortgage Banking segment engages in the origination, sale, and servicing of various residential mortgage loans; hedging activities; and purchase of mortgage loans from branch and mortgage bankers. The Consumer (Retail) Banking segment provides auto loans, finance leases, boat and personal loans, credit card loans, and lines of credit; and interest-bearing and non-interest-bearing checking and savings accounts, and individual retirement accounts and retail certificates of deposit (CDs), as well as insurance agency services. The Treasury and Investments segment offers funding and liquidity management services. The United States Operations segment provides checking, savings, and money market accounts, as well as retail CDs; traditional commercial and industrial, and commercial real estate loans, residential mortgages, term and construction loan, home equity loans, lines of credit, FHLB advances, and brokered CDs; and internet banking, cash management, remote deposit capture, and automated clearing house transactions services. The Virgin Islands Operations segment is involved in consumer, commercial lending, and deposit-taking activities. First BanCorp. was founded in 1948 and is headquartered in San Juan, Puerto Rico.

Corporate governance

First BanCorp.’s ISS governance QualityScore as of 1 April 2024 is 2. The pillar scores are Audit: 2; Board: 2; Shareholder rights: 4; Compensation: 2.

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 10 indicates higher governance risk.