First BanCorp is a publicly owned financial holding company.  The Corporation provides a wide range of financial services for retail, commercial and institutional clients. First BanCorp has six reportable 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 consists of the Corporation’s lending and other services for large customers represented by specialized and middle-market clients and the public sector. Mortgage Banking operations consist of the origination, sale, and servicing of a variety of residential mortgage loan products and related hedging activities. The Treasury and Investments segment is responsible for the Corporation’s treasury and investment management functions. The United States Operations segment consists of all banking activities conducted by FirstBank on the United States mainland. The Virgin Islands Operations segment consists of all banking activities conducted by FirstBank in the USVI and BVI, including retail and commercial banking services.

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Type
Public
HQ
San Juan, PR
Founded
1948
Size (employees)
2,701 (est)
First BanCorp was founded in 1948 and is headquartered in San Juan, PR
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First BanCorp Office Locations

First BanCorp has offices in Pinecrest, Miami, Deerfield Beach, Charlotte Amalie West St. Thomas and in 9 other locations
San Juan, PR (HQ)
1519 Ponce de Leon Avenue
Deerfield Beach, US
1898 W Hillsboro Blvd
Doral, US
108 3905 NW 107th Ave
Hialeah, US
1325 W 49th St
Margate, US
7220 W Atlantic Blvd
Miami, US
848 Brickell Ave
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First BanCorp Financials and Metrics

First BanCorp Financials

First BanCorp's revenue was reported to be $673.25 m in FY, 2016 which is a 2% decrease from the previous period.
USD

Revenue (Q1, 2018)

172.2 m

Gross profit (Q1, 2018)

147.5 m

Gross profit margin (Q1, 2018), %

85.6%

Net income (Q1, 2018)

33.1 m

EBIT (Q1, 2018)

124.7 m

Market capitalization (25-May-2018)

1.7 b

Closing share price (25-May-2018)

7.9

Cash (31-Mar-2018)

743.4 m

EV

1.7 b
First BanCorp's current market capitalization is $1.7 b.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

695.3 m686.9 m673.2 m

Revenue growth, %

(1%)(2%)

Cost of goods sold

96.9 m

General and administrative expense

56.7 m
Quarterly
USDQ1, 2018

Revenue

172.2 m

Cost of goods sold

24.7 m

Gross profit

147.5 m

Gross profit Margin, %

86%
Annual
USDFY, 2017

Cash

706 m

PP&E

141.9 m

Total Assets

12.3 b

Accounts Payable

9 b
Quarterly
USDQ1, 2018

Cash

743.4 m

PP&E

143.1 m

Total Assets

12.2 b

Accounts Payable

9.1 b
Annual
USDFY, 2017

Net Income

67 m

Depreciation and Amortization

16.4 m

Cash From Operating Activities

236 m

Cash From Investing Activities

(73.3 m)
Quarterly
USDQ1, 2018

Net Income

33.1 m

Depreciation and Amortization

3.9 m

Cash From Operating Activities

95.4 m

Cash From Investing Activities

111.8 m
USDY, 2018

EV/EBIT

13.4 x

EV/CFO

17.6 x

Financial Leverage

6.5 x
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First BanCorp Operating Metrics

First BanCorp's Total Loans was reported to be $8.7b in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Bank Branches

76 72 70

Non-performing Loans

$523.90 m$563.54 m$463.57 m$472.64 m$442.77 m$574.94 m$598.19 m$566.71 m$560.09 m$477.57 m$411.41 m

Total Loans

$8.88 b$9.26 b$9 b$9.07 b$8.87 b$8.89 b$8.64 b$8.65 b$8.68 b$8.62 b$8.69 b
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