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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    Market capitalization(2018-10-11)
    $2 B
    Total Loans(Q2, 2017)
    $8.7 B
    TypePublic
    HQSan Juan, PR
    Founded1948
    Size (employees)2,701 (est)
    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 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 Revenue

    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 (Q2, 2018)

    		348.3m

    Gross profit (Q2, 2018)

    		298.4m

    Gross profit margin (Q2, 2018), %

    		85.7%

    Net income (Q2, 2018)

    		64.2m

    EBIT (Q2, 2018)

    		255.2m

    Market capitalization (11-Oct-2018)

    		2.0b

    Closing stock price (11-Oct-2018)

    		9.0

    Cash (30-Jun-2018)

    		790.8m

    EV

    		1.9b
    First BanCorp's current market capitalization is $2 b.
    Annual
    USDFY, 2014FY, 2015FY, 2016FY, 2017

    Revenue

    		695.3m686.9m673.2m

    Revenue growth, %

    		(1%)(2%)

    Cost of goods sold

    		96.9m

    General and administrative expense

    		56.7m
    Quarterly
    USDQ1, 2018Q2, 2018

    Revenue

    		172.2m348.3m

    Cost of goods sold

    		24.7m49.9m

    Gross profit

    		147.5m298.4m

    Gross profit Margin, %

    		86%86%
    show all
    Annual
    USDFY, 2017

    Cash

    		706.0m

    PP&E

    		141.9m

    Total Assets

    		12.3b

    Accounts Payable

    		9.0b
    Quarterly
    USDQ1, 2018Q2, 2018

    Cash

    		743.4m790.8m

    PP&E

    		143.1m144.5m

    Total Assets

    		12.2b12.4b

    Accounts Payable

    		9.1b9.2b
    show all
    Annual
    USDFY, 2017

    Net Income

    		67.0m

    Depreciation and Amortization

    		16.4m

    Cash From Operating Activities

    		236.0m

    Cash From Investing Activities

    		(73.3m)
    Quarterly
    USDQ1, 2018Q2, 2018

    Net Income

    		33.1m

    Depreciation and Amortization

    		3.9m7.7m

    Cash From Operating Activities

    		95.4m158.3m

    Cash From Investing Activities

    		111.8m(57.4m)
    show all
    USDY, 2018

    EV/EBIT

    		7.4 x

    EV/CFO

    		11.9 x

    Financial Leverage

    		6.5 x
    Show all financial metrics

    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
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    Old Mutual
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    Old Point Financial
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    Community Bankers Trust
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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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