FirstBank invests $466M to boost inclusion, development
FirstBank invested more than $466 million in 2024 to promote financial inclusion and economic development in Puerto Rico, Florida and the U.S. Virgin Islands, according to its 2024 Corporate Sustainability Report.
“At FirstBank, we promote equitable access to credit as a key tool to improve quality of life, drive economic activity and support the creation of sustainable opportunities,” said Lilian Díaz, executive vice president and head of the Retail Business Banking Group.
“We’re proud to be an engine of progress in Puerto Rico, Florida and the Virgin Islands through high-impact initiatives that respond to the challenges of our markets, as well as to the needs of our customers and communities we serve,” she added.
Of the total, the bank granted $154 million in loans to small businesses, including 1,268 originations of less than $1 million. Most of these — 1,173 loans — were disbursed in Puerto Rico, supporting entrepreneurs in high-impact sectors.
FirstBank also originated 827 federally guaranteed mortgage loans totaling $141 million through the Federal Housing Administration, Department of Veterans Affairs and U.S. Department of Agriculture Rural Housing program. These programs expanded access to housing for first-time buyers and moderate-income families.
In addition, $171 million went into Community Reinvestment Act investments, directed to financial vehicles that support development in underserved communities. These included bonds, deposits at community financial institutions and in-kind contributions.
