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1519 Ponce De Leon Ave .
Santurce, PR 00909

FirstBank is a Puerto Rico-based bank that provides personal, commercial, and corporate banking services to consumers predominantly located in Puerto Rico, the U.S. and British Virgin Islands, and Florida. The bank is a subsidiary of First Bancorp, a publicly traded bank holding company (NYSE:FBP), and is registered with the FDIC.

On its personal banking side, FirstBank offers checking, savings, Certificate of Deposit (CD), and IRA certificate accounts to its retail customers. The basic checking account includes free features like no monthly fees, ATM transactions, unlimited checks, ATM card, and telephone banking. FirstBank’s interest-bearing checking accounts offer attractive interest rates that are tiered with account balances and have monthly service fees unless direct deposit or minimum balance requirements are not met. A basic savings account comes with a debit card and direct deposit and pays a higher than average rate of interest. Children’s savings accounts are also available and function similarly to the other savings offerings, with no service fees.

IRA Certificate accounts are offered in 1-, 2-, 3-, and 5-year term lengths and contributions are tax deductible. Certificates of Deposit give the flexibility to choose how often interest is paid back, and has recognized FirstBank several times in the past for its CDs. As far as investment and insurance services, the bank offers UBS financial consultants for guidance to its customers. On the commercial side, FirstBank offers similar accounts, business cash management services, and point of sale services.

FirstBank online banking is a secure web-based platform on which customers can perform account management tasks like viewing check images, paying bills, reordering checks, exporting transactions to money management software, and transferring funds. The bank’s website is also optimized to make it convenient to use as a mobile banking tool from smartphones and tablets.

FirstBank of Puerto Rico was originally established as a Savings & Loan institution in 1948, and was the first such institution of its kind in Puerto Rico. In 1987, the bank changed its organization type to a stock savings bank, and seven years later transitioned to its current name. The bank participated in the Troubled Asset Relief Program (TARP) in 2008 and has since paid most of its loans back to the government. It is headquartered in Santurce, Puerto Rico, and operates several branches in the Orlando and Miami areas of the state of Florida.

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Reviews (1)

Bad Service

First bank is really a terrible Bank, and does not know the meaning of customer service. Especially the one located in Dorado Puerto Rico... Only one teller to service their customers on a Friday. They do not greet nor say thank you. Once I said I was going to close my account, they did not care nor ask why. First Bank should be the last bank!!



Data for Q2 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of June 30, 2014 FirstBank (PR) had $794.81 million in non-current loans and owned real-estate with $1.73 billion in equity and loan loss allowances on hand to cover it. This gives FirstBank (PR) a Texas Ratio of 46.04% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for FirstBank (PR) experienced no significant changes from 45.03% as of June 30, 2013 to 46.04% as of June 30, 2014, resulting in a negative change of 2.23%. This indicates that the balance sheet and financial strength for FirstBank (PR) has had no significant changes in recent periods.

Deposit Growth


In the past year, FirstBank (PR) has decreased its total deposits by -$347.72 million, resulting in -3.47% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth FirstBank (PR) has shown is below average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. FirstBank (PR) has $12.5 billion in assets with $1.73 billion in equity, resulting in a capitalization level of 13.81%, which is excellent.

Institution Statistics

FDIC Certificate #30387
Year Established1949
Primary RegulatorFDIC
Assets and Liabilities
Assets$12.50 billion
Loans$9.30 billion
Deposits$9.67 billion
Equity Capital$1.50 billion
Loan Loss Allowance$229.78 million
Unbacked Noncurrent Loans$672.97 million
Real Estate Owned$121.84 million
Historic Data - June 2013
Assets$12.78 billion
Equity Capital$1.40 billion
Loan Loss Allowance$287.36 million
Unbacked Noncurrent Loans$672.97 million
Real Estate Owned$139.26 million
Profit Margin - Quarterly
Return on Assets0.66%
Return on Equity5.75%
Interest Income$319.20 million
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FirstBank (PR) Savings Account Rates

0.70%--BONUS Account

FirstBank (PR) Checking Account Rates

1.06%$1m-First Investment
0.50%$100k-BONUS Account

FirstBank (PR) has 71 locations. Click to view all FirstBank (PR) locations.