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 DepositAccounts.com 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.
I opened a first bank savings account, hugee mistake, i never even bother to give reviews but i am that upset, first they didn't told me about withholding 15.00 for a year and now reviewing my bank statement, yes people we have to actively review our bank statements, i found out they took 27.00 out of my account, when i call its because i used my atm!!!!! they never said i can only use my atm 4 times a month...... awesome when i called the customer service rep was very rude, and she said its a savings account what did you expect, also treating me like i am dumb, well i do expect to be able to use my bank acount more than 4 times a month without being crucified. who actually gets a bank account with an atm just to use it 4 times a month like really, First Bank its the worst bank ever
My mother used to have a joint account with my father. When he passed away she went to get the rest of the money left in the account and they refused to give it to her even though it was a joint account on the grounds of needed a declaration of inheritance. Something never explained by them when my parents signed up.
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!!
|FDIC Certificate #||30387|
|Return on Assets - YTD||1.67%|
|Return on Equity - YTD||9.93%|
|Annual Interest Income||$624.8MM|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$12.23B$12.25B|
|Loans||Q4 2018vs Q4 2017||$8.70B$8.65B|
|Deposits||Q4 2018vs Q4 2017||$9.02B$9.06B|
|Equity Capital||Q4 2018vs Q4 2017||$2.18B$2.03B|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$187.1MM$223.4MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$375.6MM$546.1MM|
|Real Estate Owned||Q4 2018vs Q4 2017||$131.4MM$147.9MM|
Rates for FirstBank (PR) are currently being reviewed.