First Bancorp (NYSE:FBP) was founded in 1948 and is headquartered in Santurce, Puerto Rico. It has 2,758 full-time employees and provides a series of financial products to retail, commercial and institutional customers through its holding bank FirstBank Puerto Rico. And service.
Please note the distinction between a company of the same name – North Carolina – the first universal financial holding company First Bancorp (NASDAQ: FBNC)
First Bancorp (FBP):
In 1948, FirstBank was established as the first savings and loan bank in Puerto Rico. First BanCorp mainly provides a series of financial products and services to retail, commercial and institutional customers by controlling FirstBank, which is divided into departments to operate.
- Commercial and corporate financial sector : provide commercial real estate and construction loans, and exhibition loans; and cash management and corporate management services, and provide underwriting bonds and financial consulting services to government agencies.
- Consumer (retail) financial sector : provide car, boat and personal loans, credit cards; credit lines; and deposit products including interest-bearing and non-interest-bearing checks and deposit accounts, personal retirement accounts and retail deposit certificates, and engage in financial leasing and insurance activity.
- Mortgage Banking Department : Participate in the origination, sales, securitization and provision of various residential mortgage products and related hedging activities; purchase and sell collateral in the secondary market; supply collateral purchased from other local banks and mortgage bankers loan.
- Finance and investment department : Participate in financial and investment management activities, such as capital and liquidity management.
- U.S. business sector : Provide checks, deposits and money market accounts; residential mortgages, home equity loans, credit lines and auto loans, and online banking services, cash management services, remote data collection and automatic clearing house transactions.
- Virgin Islands Business Department : Participate in consumer and commercial loans and undertaking deposit activities.
As of March 1, 2015, One Magnum Financial Holdings operates 54 branches in Puerto Rico, 12 branches in the U.S. Virgin Islands and the British Virgin Islands, and 10 branches in Florida, USA.