MIAMI, Nov. 10 /PRNewswire-FirstCall/ -- First BanCorp (NYSE: FBP), the $15.2 billion parent company of FirstBank Puerto Rico, a state-charted commercial bank with operations in Puerto Rico and the Virgin Islands, announced it is expanding its operations in the United States by opening a new office of the bank to service South and Central Florida.
The Miami Agency, located at 110 Merrick Way Suite 3A, Coral Gables, Florida 33134, will concentrate its effort on generating commercial real estate loans for income-producing properties and construction loans in the region.
The Bank has hired two local commercial real estate and construction lenders to commence operations. James J. Partridge, with 21 years of experience in real estate and the banking industry in Miami, will be Senior Vice President and Agency General Manager; and Elsie M. Alvarez, Vice President, with 23 years of experience in the banking industry, will be the Agency Business Group Manager and Agency Operations Manager.
First BanCorp, a Financial Holding Company, is the parent company of FirstBank Puerto Rico, the second largest bank in the Island. FirstBank was founded in 1948 and today operates 112 service offices in Puerto Rico and the Virgin Islands, including its subsidiaries Money Express, a small-loan company; First Leasing and Car Rental, which rents cars and trucks; and First Mortgage, a company providing real estate financial products.
SOURCE First BanCorp -0- 11/10/2004 /CONTACT: Annie Astor-Carbonell, Senior Executive Vice President and Chief Financial Officer, First BanCorp, +1-787-729-8088, or annie.astor@firstbankpr.com / /Web site: http://www.firstbankpr.com / (FBP) CO: First BanCorp; FirstBank Puerto Rico ST: Puerto Rico IN: FIN SU: PDT MD-AR -- MXW002 -- 8559 11/10/200411:55 ESThttp://www.prnewswire.com