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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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%
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
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
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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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.