First BanCorp
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First BanCorp

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    • Financial ServicesInvestmentbanksholding companyinsurance

    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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    Revenue(FY, 2017)
    $650.8 M
    Market capitalization(2019-01-17)
    $2 B
    Total Loans(Q2, 2017)
    $8.7 B
    TypePublic
    HQSan Juan, PR
    Founded1948
    Size (employees)2,553 (est)-5%
    Website1firstbank.com
    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 San Juan, Christiansted, Frederiksted, Road Town 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
    9290 SW 40th St
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    First BanCorp Financials and Metrics

    First BanCorp Revenue

    First BanCorp's revenue was reported to be $650.81 m in FY, 2017
    USD

    Revenue (Q3, 2018)

    		176.0m

    Gross profit (Q3, 2018)

    		151.0m

    Gross profit margin (Q3, 2018), %

    		85.8%

    Net income (Q3, 2018)

    		36.3m

    EBIT (Q3, 2018)

    		132.5m

    Market capitalization (17-Jan-2019)

    		2.0b

    Closing stock price (17-Jan-2019)

    		9.4

    Cash (30-Sep-2018)

    		559.2m

    EV

    		2.2b
    First BanCorp's current market capitalization is $2 b.
    Annual
    USDFY, 2014FY, 2015FY, 2016FY, 2017

    Revenue

    		695.3m686.9m673.2mwdxefcqufszuzezftuxetqsqxt650.8m

    Revenue growth, %

    		(1%)(2%)

    Cost of goods sold

    		103.3m101.2m96.9m

    Gross profit

    		583.6m572.1m553.9m
    Quarterly
    USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

    Revenue

    		158.3m168.6m169.3m166.7m169.7m153.5m167.9m166.6m172.2m176.1m176.0m

    Cost of goods sold

    		25.2m24.9m26.2m26.7m25.4m22.7m23.5m25.2m24.7m25.2m25.0m

    Gross profit

    		133.1m143.7m143.1m140.0m144.3m130.8m144.5m141.5m147.5m150.9m151.0m

    Gross profit Margin, %

    		84%85%85%84%85%85%86%85%86%86%86%
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    Annual
    USDFY, 2015FY, 2016FY, 2017

    Cash

    		533.0m289.6m706.0m

    PP&E

    		161.0m150.8m141.9m

    Total Assets

    		12.6b11.9b12.3b

    Accounts Payable

    		9.3b8.8b9.0b
    Quarterly
    USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

    Cash

    		462.9m742.3m813.7m617.8m518.8m414.0m422.2m726.8m743.4m790.8m559.2m

    PP&E

    		164.6m162.7m159.2m155.6m154.2m148.3m146.6m144.2m143.1m144.5m147.2m

    Total Assets

    		12.6b12.8b12.7b12.5b12.1b11.9b11.9b12.2b12.2b12.4b12.2b

    Accounts Payable

    		9.5b9.7b9.4b9.2b9.0b8.9b8.7b8.8b9.1b9.2b9.1b
    show all
    Annual
    USDFY, 2015FY, 2016FY, 2017

    Net Income

    		21.3m93.2m67.0m

    Depreciation and Amortization

    		21.1m17.6m16.4m

    Accounts Payable

    		6.2m(29.2m)

    Cash From Operating Activities

    		261.9m199.4m236.0m
    Quarterly
    USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

    Net Income

    		(8.4m)6.3m23.3m45.3m69.4m25.5m53.5m42.8m33.1m100.5m

    Depreciation and Amortization

    		10.6m15.9m4.6m9.0m13.4m4.1m8.2m12.3m3.9m7.7m11.3m

    Accounts Payable

    		1.7m3.3m2.3m(26.6m)

    Cash From Operating Activities

    		132.7m199.1m54.3m82.2m119.1m84.8m131.6m194.6m95.4m158.3m213.8m
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    USDY, 2018

    EV/EBIT

    		16.4 x

    EV/CFO

    		10.2 x

    Debt/Equity

    		0.4 x

    Debt/Assets

    		0.1 x

    Financial Leverage

    		6.3 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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    Competitors

    Credit Agricole
    Financial Services - Public
    Old Mutual
    Financial Services - Public
    Old Point Financial
    Financial Services - Public
    Community Bankers Trust
    Financial Services - Public
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    First BanCorp Online and Social Media Presence

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    First BanCorp Company Life and Culture

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     First BanCorp Frequently Asked Questions

    • When was First BanCorp founded?

      First BanCorp was founded in 1948.

    • How many employees does First BanCorp have?

      First BanCorp has 2,553 employees.

    • What is First BanCorp revenue?

      Latest First BanCorp annual revenue is $650.8 m.

    • What is First BanCorp revenue per employee?

      Latest First BanCorp revenue per employee is $254.9 k.

    • Who are First BanCorp competitors?

      Competitors of First BanCorp include Credit Agricole, Old Mutual and Old Point Financial.

    • Where is First BanCorp headquarters?

      First BanCorp headquarters is located at 1519 Ponce de Leon Avenue, San Juan.

    • Where are First BanCorp offices?

      First BanCorp has offices in San Juan, Christiansted, Frederiksted, Road Town and in 9 other locations.

    • How many offices does First BanCorp have?

      First BanCorp has 15 offices.