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First Bancorp PR Com (FBP)

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Last Post: 10/21/2020 8:00:37 AM - Followers: 13 - Board type: Free - Posts Today: 0



http://www.firstbankpr.com/

FirstBanCorp, (the Corporation) is a publicly owned financial holding company. The Company provides a range of financial services for retail, commercial and institutional clients. As of December 31, 2009, the Corporation controlled three wholly owned subsidiaries: FirstBank, FirstBank Insurance Agency, Inc. (FirstBank Insurance Agency) and Grupo Empresas de Servicios Financieros (doing business as PR Finance Group). The Company operates in six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations and Virgin Islands Operations. On January 28, 2008, the Corporation completed the acquisition of Virgin Islands Community Bank (VICB).

Commercial and Corporate Banking

The Company’s Commercial and Corporate Banking segment consists of the Corporation’s lending and other services for the public sector and industries, such as healthcare, tourism, financial institutions, food and beverage, shopping centers and middle-market clients. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans, and other products, such as cash management and business management services.

Mortgage Banking

The Company’s Mortgage Banking segment conducts its operations through FirstBank and its mortgage origination subsidiary, FirstMortgage, Inc. (FirstMortgage). These operations consist of the origination, sale and servicing of a range of residential mortgage loans products. Originations are sourced through different channels, such as branches, mortgage bankers and real estate brokers, and in association with project developers. FirstMortgage focuses on originating residential real estate loans, some of which conform to Federal Housing Administration (FHA), Veterans Administration (VA) and Rural Development (RD) standards. Loans originated that meet FHA standards qualify for the federal agency’s insurance program whereas loans that meet VA and RD standards are guaranteed by their respective federal agencies. In December 2008, the Corporation obtained from the Government National Mortgage Association (GNMA) the necessary Commitment Authority to issue GNMA mortgage-backed securities. Under this program, during the year ended December 31, 2009, the Corporation completed the securitization of approximately $305.4 million of FHA/VA mortgage loans into GNMA mortgage-backed security (MBS).

Consumer (Retail) Banking

The Company’s Consumer (Retail) Banking segment consists of the Corporation’s consumer lending and deposit-taking activities conducted through its branch network and loan centers in Puerto Rico. Loans to consumers include auto, boat, lines of credit, and personal loans. Deposit products include interest bearing and non-interest bearing checking and savings accounts, Individual Retirement Accounts (IRA) and retail certificates of deposit. Retail deposits gathered through each branch of FirstBank’s retail network serve as one of the funding sources for the lending and investment activities.

Treasury and Investments

The Company’s Treasury and Investments segment is responsible for the Corporation’s treasury and investment management functions. In the treasury function, which includes funding and liquidity management, this segment sells funds to the Commercial and Corporate Banking, Mortgage Banking, and Consumer (Retail) Banking segments to finance their lending activities and purchases funds gathered by those segments. Funds not gathered by the different business units are obtained by the Treasury Division through wholesale channels, such as brokered deposits, Advances from the Federal Home Loan Bank (FHLB) and repurchase agreements with investment securities, among others.

United States Operations

The United States operations segment consists of all banking activities conducted by FirstBank in the United States mainland. The Corporation provides a range of banking services to individual and corporate customers in the state of Florida through its 10 branches and two lending centers.

Virgin Islands Operations

The Virgin Islands operations segment consists of all banking activities conducted by FirstBank in the U.S. and British Virgin Islands, including retail and commercial banking services. Loans to consumers include auto, boat, lines of credit, personal loans and residential mortgage loans. Deposit products include interest bearing and non-interest bearing checking and savings accounts, Individual Retirement Accounts (IRA) and retail certificates of deposit. Retail deposits gathered through each branch serve as the funding sources for the lending activities.

 

 

 



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FBP News: Quarterly Report (10-q) 05/10/2021 03:24:44 PM
FBP News: Statement of Changes in Beneficial Ownership (4) 05/07/2021 05:57:11 PM
FBP News: Initial Statement of Beneficial Ownership (3) 05/07/2021 05:46:03 PM
FBP News: Initial Statement of Beneficial Ownership (3) 05/07/2021 05:39:00 PM
FBP News: Statement of Changes in Beneficial Ownership (4) 05/04/2021 06:14:09 PM
News News Alert: Quarterly Report (10-q) 05/10/2021 03:24:44 PM
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#182   JUST IN: $FBP First BanCorp to Announce 3Q whytestocks 10/21/20 08:00:37 AM
#181   FBP buy 7.33 stocktrademan 04/28/18 12:47:12 PM
#180   FBP is another one that got away. Enterprising Investor 03/04/15 09:32:40 AM
#179   LM!!!.....where in the world have you been! Long 56Chevy 03/03/15 01:01:41 PM
#178   How do you guys find all the deal LouMannheim 03/03/15 10:12:45 AM
#177   FirstBank Puerto Rico Announces Acquisition of 10 Doral Enterprising Investor 02/28/15 10:39:29 PM
#176   Marker: First Bancorp (FBP) 56Chevy 12/06/14 01:06:40 AM
#175   Island’s Distressed Sale (11/25/14) Enterprising Investor 11/28/14 10:40:06 PM
#174   BV: $6.05 56Chevy 11/12/14 02:27:58 PM
#173   http://www.hjsims.com/news-views/hj-sims-special-report-on-puerto-rico-bonds-by- Minding 07/14/14 09:13:58 AM
#172   http://www.hjsims.com/news-views/weekly-market-commentary-2014-07-08/#.U8PVBY1dV Minding 07/14/14 09:13:34 AM
#171   FBP still had $1.1 billion criticized/classified loans at hlegweakreturns 09/26/13 04:04:21 PM
#170   First BanCorp Puerto Rico... MiamiGent 09/21/13 07:13:56 PM
#169   ~ Thurs-Fri $FBP ~ Earnings posted, pending or Penny Roger$ 02/09/12 02:17:02 AM
#168   PNC Bank to acquire 27 Atlanta Flagstar branches mlkrborn 07/27/11 11:41:07 AM
#167   FBP $4.50 on raising capital: mlkrborn 06/28/11 12:19:31 PM
#166   Come on 52 week low fuller11 06/23/11 10:13:26 AM
#165   FBP gained 3.49% on 03/23/11 and a total timvic 03/23/11 07:01:11 PM
#164   Nothing new? Are all the internet investors of Esss Peee 02/14/11 08:53:18 AM
#163   Need a little time for accumulation here. Fast Flyer 03 01/21/11 12:15:18 PM
#162   I think this could still be a good Esss Peee 01/15/11 11:52:25 AM
#161   my speculation... dos equis 01/14/11 06:42:56 PM
#160   Went up to 7.50 today then jerked up richme 01/13/11 03:49:33 PM
#159   Thanks Esss Peee...I got out today just in PinchnPennies 01/13/11 03:48:49 PM
#158   Panic selling made this stock look like it Esss Peee 01/13/11 02:23:57 AM
#157   Thanks for the information. I certainly did richme 01/12/11 05:22:11 PM
#156   Anybody have an explanation to what I hope PinchnPennies 01/12/11 11:14:19 AM
#155   Also when TIBB came out the r/s it nicetryinohio 01/12/11 12:22:38 AM
#154   just saw this r/s, I do not own nicetryinohio 01/12/11 12:16:22 AM
#153   mlkrborn 01/11/11 11:03:04 PM
#152   yeah.. i have been reading the yahoo message wolf16 01/10/11 06:55:13 PM
#151   No posts; everyone stupified? I am; can richme 01/10/11 04:46:00 PM
#150   I was tempted to sell but Scottrade is richme 01/07/11 07:12:09 PM
#149   that sucks.. i got in at .2291 wolf16 01/07/11 02:46:47 PM
#148   Big mistake on my partner in buying the richme 01/07/11 10:15:29 AM
#147   Thats because of a 15-1 reverse split. Esss Peee 01/07/11 09:44:48 AM
#146   +1,400% in PM?? ClarkKant 01/07/11 08:53:32 AM
#145   Well, so much for this stock reaching a Esss Peee 01/06/11 06:16:19 PM
#144   this stock dropped 16% in after hours yesterday.... wolf16 01/06/11 08:01:44 AM
#143   i was afraid of this. not a dos equis 01/06/11 12:41:00 AM
#142   Just bought 20250 shares at .41. After richme 01/05/11 07:39:08 PM
#141   The split may not weigh heavily on the richme 01/05/11 05:54:32 PM
#140   you were right... 1 to 15 wolf16 01/05/11 04:49:19 PM
#139   i looked into it some.. this article is wolf16 01/05/11 08:37:49 AM
#138   r/s? rumor or realistic? i was dos equis 01/04/11 11:21:05 PM
#137   Hopefully they will get things straightened. Maybe a Esss Peee 01/03/11 11:08:58 PM
#136   where do you guys see this stock in wolf16 01/03/11 08:30:50 PM
#135   Long and strong. I'm hoping this can take Esss Peee 01/03/11 12:19:57 AM
#134   That makes 3, holding FBP and C as well illegal_alias 01/02/11 10:07:37 PM
#133   Thats the reason for playing the market. Take Fast Flyer 03 01/02/11 08:17:26 AM
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