At a time when the financial environment demands greater agility and strategic focus, First BanCorp has succeeded in distinguishing itself as a benchmark for financial strength in its category. The financial institution, headquartered in Puerto Rico and the parent company of FirstBank, was recognized as the best performing bank among public banking institutions with assets between $10 billion and $50 billion, according to the list published by American Banker, and developed in conjunction with Capital Performance Group for the 2024 period.
Across the U.S. and Puerto Rico, First BanCorp is positioned as a national leader in its category, driven by outstanding indicators such as its return on average equity (ROAE), operating efficiency, and sustained growth in loan originations.
Aurelio Alemán, president and CEO of First BanCorp, commented: “This recognition validates the financial strength and capabilities of our institution to maintain a resilient, disciplined business model focused on sustainable results. Given the quality of our performance and the value we generate for our customers and shareholders, we’re proud that a prestigious financial publication such as American Banker has distinguished us as the leading institution in our category at the national level. I’m proud of our leaders and employees, whose commitment and talent have been key to achieving this recognition. I’m also grateful to our customers for the trust they place in us,” continued Alemán.
This recognition consolidates First BanCorp as one of the strongest financial institutions within the U.S. banking system. In an environment marked by interest rate volatility, inflationary pressures, and greater regulatory demands, the institution has demonstrated disciplined execution, and a vision focused on consistent results.
American Banker is a leading independent publication that provides news, analyses and trends in the banking and financial services industry. American Banker’s ranking is based on an analysis of key financial metrics over a three-year period, including average return on equity (ROAE), revenue growth, operating efficiency, and lending performance.
To learn more about FirstBank’s recognitions and initiatives in Puerto Rico, Florida and the Eastern Caribbean Region, visit www.1firstbank.com.
FirstBank is a member of FDIC in PR & USVI only.
About First Bancorp
First Bancorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S., and the U.S. and British Virgin Islands. FirstBank Puerto Rico’s subsidiaries include First Federal Finance Limited Liability Company (a small lending company), FirstBank Insurance Agency, LLC. and FirstMortgage. First Bancorp’s common stock trades on the New York Stock Exchange under the symbol FBP. FirstBank is a Puerto Rican financial institution with a 76-year history of providing a superior service experience through a total of 3,150 employees distributed among the locations where it has a presence.
