Family-owned company South Puerto Rico Towing & Boat Service Inc. is looking to grow this year due to financing totaling $11.7 million approved by FirstBank, the 504 program of the Small Business Administration (SBA), and COFFEC. The company will put the money toward the purchase of a tugboat, improvements to an existing tugboat, and debt […]
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $167.4 million, or $0.76 per diluted share for the year ended Dec. 31, 2019, vs $201.6 million, or $0.92 per diluted share for the year ended Dec. 31, 2018. The drop was attributed a one-time $63 million benefit last year, which […]
Financial institution FirstBank has established a $250,000 relief fund to support the recovery of communities in the southwest area that were affected by the recent earthquakes. During the first phase of the effort, the bank partnered with five nonprofit organizations that are offering services to families with pressing needs, namely: Centro de Microempresas y Tecnologías […]
FirstBank recently received a recognition from the American Bankers Association Association for its participation in the Community Commitment Awards with the 1Éxito Program, under the category of Community and Economic Development. The program is an alliance between FirstBank and INprende, a platform that promotes innovation and entrepreneurship, with the purpose of increasing the level of […]
With the purpose of reforesting green areas destroyed by Hurricane María and contribute to raising students’ environmental awareness, FirstBank, through its “One with the Environment program” recently donated bay-rum and guaiacwood trees to the Ana G. Méndez University’s Cupey campus. “FirstBank continues to support initiatives that return oxygen to our island through the trees that […]
FirstBank recently wrapped up the year-long celebration of its 70th anniversary with a volunteer activity during which some 250 employees donated their time to perform cleaning, painting, gardening, restorations and recreational activities in more than 20 nonprofits in Puerto Rico, Florida and the U.S. Virgin Islands. “At FirstBank we’re very committed to the communities we […]
https://media.blubrry.com/dollarsandsensenewsismybusines/newsismybusiness.com/wp-content/uploads/2019/10/NIMB-Podcast-First-Bank-acquires-Santander_mixdown.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | RSSAurelio Alemán, CEO of First BanCorp., the parent company of FirstBank, explained what the acquisition of Banco Santander’s assets in Puerto Rico will represent for the market and the financial institution he heads. He also went over aspects of the bank’s third quarter results, released […]
As an initiative to contribute to the professional development of undergraduate and graduate students of the University of Puerto Rico, Río Piedras Campus, FirstBank in alliance with its School of Business Administration’s ENLACE Program, inaugurated “El Outfit.” The 500-square-foot space on the fifth floor of the Ana María O’Neill building is a boutique featuring professional […]
FirstBank’s Commercial Banking Department granted financing to FS Perfumes, LLC under the SBA 7A, Express, and 504 Programs to acquire and improve the 10,000+ square-foot commercial property in San Juan. The amount of the financing was undisclosed. “For us at FirstBank, it’s very important to support local businesses because of their significant contribution to Puerto […]
FirstBank is launching its new digital and mobile banking platform called “Digital Banking,” which offers customers more features and increased security to manage their banking. To access, customers must log in via [email protected]. Some of the benefits of Digital Banking are: greater levels of security, with a superior authentication process for keeping personal information safe; […]
With the aim of promoting entrepreneurship among young people between the ages of 18-35 by helping them acquire the skills necessary to develop or strengthen an enterprise, FirstBank has granted a donation of $15,000 to the Entrepreneurial Training Program for Young Adults of the Center for Puerto Rico. The Center is the operational arm of […]
First BanCorp. reported net income of $41.3 million, or $0.19 per diluted share, for the second quarter of 2019, compared to $43.3 million, or $0.20 per diluted share, for the first quarter of 2019, and $31.0 million, or $0.14 per diluted share, for the second quarter of 2018. First BanCorp CEO Aurelio Alemán described the […]
In the interest of promoting sustainable development of the fishing industry in Boquerón and providing a safe environment for fishermen, FirstBank has made a donation to the Asociación Pescadería Villa Palmeras Inc. fishing association to help complete the reconstruction of their pier, which was declared a total loss after Hurricanes Irma and María. The fishing […]
After successfully training 70 business owners late last year, FirstBank and INprende announced the return of the 1Éxito program, a partnership designed to train and develop entrepreneurs, with the goal of helping small businesses already in operation across the island grow stronger. Those interested in participating in the free training sessions have until today to […]
Continuing with its commitment to reforest Puerto Rico, FirstBank and its program “Uno con el Ambiente” returns with its reforestation tour, “Crece Verde.” In this new edition, 2,000 fruit and native tress will be distributed in 10 branches throughout the island, the financial institution announced. Alexis Molinares, renowned ecologist and project consultant will provide guidance […]
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