First Bancorp (N:FBP)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1519 Ponce de Leon Avenue Stop 23, First Federal Building SAN JUAN 00908 |
| Tel: | N/A |
| Website: | https://www.1firstbank.com |
| IR: | See website |
| Key People | ||
| Aurelio Alman President, Chief Executive Officer, Director | Juan Carlos Pavia Executive Vice President, Chief Credit Officer | Orlando Berges-Gonzalez Chief Financial Officer, Executive Vice President |
| Donald Kafka Chief Operating Officer, Executive Vice President | Nayda Rivera-Batista Executive Vice President, Chief Risk Officer | Sara Alvarez-Cabrero Executive Vice President, General Counsel, Secretary of the Board of Directors |
| Lilian Diaz-Bento Executive Vice President, Business Group Director | Jose M. Lacasa Executive Vice President, Florida Business Director | Ginoris C. Lopez-Lay Vizcarra Executive Vice President, Strategic Management Director | Thomas Michael McDonald Executive Vice President, Business Group Director |
| Business Overview |
| First BanCorp. is a financial holding company. As of December 31, 2016, the Company controlled two subsidiaries: FirstBank Puerto Rico (the Bank or FirstBank) and FirstBank Insurance Agency, Inc. (FirstBank Insurance Agency). It operates in six segments: Commercial and Corporate Banking, which consists of lending and other services; Consumer (Retail) Banking, which consists of consumer lending and deposit-taking activities; Mortgage Banking, which consists of the origination, sale, and servicing of a range of residential mortgage loan products and related hedging activities; Treasury and Investments, which consists of treasury and investment management functions; United States Operations, which consists of all banking activities conducted by FirstBank on the United States mainland, and Virgin Islands Operations, which consists of banking activities conducted by FirstBank in the United States Virgin Islands and British Virgin Islands, including retail and commercial banking services. |
| Financial Overview |
| For the three months ended 31 March 2024, First Bancorp interest income increased 11% to $268.5M. Net interest income after loan loss provision decreased 1% to $184.4M. Net income increased 4% to $73.5M. Net interest income after loan loss provision reflects Mortgage Banking segment decrease of 28% to $16.1M, Virgin Islands Operations segment decrease of 24% to $5.7M, Net Interest Margin, Total -% decrease of 5% to 4.27%. |
| Employees: | 3,168 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $2,480M as of Mar 31, 2024 |
| Annual revenue (TTM): | $1,050M as of Mar 31, 2024 |
| EBITDA (TTM): | $467.26M as of Mar 31, 2024 |
| Net annual income (TTM): | $305.62M as of Mar 31, 2024 |
| Free cash flow (TTM): | $239.58M as of Mar 31, 2024 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 166,427,105 as of May 2, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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