First chartered in 1948, FirstBank was the first Savings & Loan institution
established in Puerto Rico.
Since its inception the bank played a fundamental role in improving the quality
of life in Puerto Rico, by helping thousands of citizens to acquire their first
home, thus enhancing their social and economic status.
It converted to a commercial bank charter and changed its name to First Federal
Savings Bank in 1983. In 1987, First Federal became a stockholder-owned savings
bank and went public, trading on Nasdaq. A few years later, in 1993, it was
listed on the New York Stock Exchange under the symbol FBP and, in 1994, the
name changes to FirstBank Puerto Rico. In 1998, the Bank reorganized into a
holding company under the name of First BanCorp.
Thanks to the visionary leadership of its management team, the institution
experienced an impressive growth and transformation, becoming one of Puerto
Rico's leading financial institutions with approximately 3,000 employees. It
offers a full range of financial services to individual, commercial, and corporate
customers through its more than a hundred and seventy financial facilities in
Puerto Rico, the US mainland, and the US and British Virgin Islands.