Erste BanCorp. (FBP): Business Model Canvas

Tauchen Sie ein in die strategische Blaupause von First BanCorp (FBP), einem dynamischen Finanzkonzern, der das Bankwesen in der Karibik neu gestaltet. Mit einem ausgefeilten Geschäftsmodell, das traditionelle Bankkompetenz und modernste digitale Innovation nahtlos miteinander verbindet, zeichnet sich FBP als transformative Kraft im Finanzdienstleistungsbereich aus. Von den robusten digitalen Plattformen bis hin zu personalisierten Kundenerlebnissen offenbart der umfassende Ansatz der Bank eine sorgfältig ausgearbeitete Strategie, die verschiedene Marktsegmente anspricht und gleichzeitig technologische Fortschritte und lokale Marktexpertise nutzt.

Erste BanCorp. (FBP) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianz mit internationalen Bankennetzwerken

First BanCorp unterhält strategische Partnerschaften mit folgenden internationalen Bankennetzwerken:

Partnernetzwerk	Umfang der Zusammenarbeit	Gründungsjahr
SCHNELL	Internationaler Zahlungsverkehr	2018
Visum International	Kartenverarbeitungsdienste	2016
Mastercard-Netzwerk	Globale Zahlungsinfrastruktur	2017

Partnerschaften mit Anbietern von Finanztechnologie (Fintech).

First BanCorp arbeitet mit folgenden Fintech-Anbietern zusammen:

• Fiserv – Digitale Banking-Plattform
• Jack Henry & Associates – Kernbankensoftware
• FIS Global – Zahlungsabwicklungslösungen
• Plaid – Finanzdatenintegration

Zusammenarbeit mit lokalen Unternehmen in Puerto Rico und den Amerikanischen Jungferninseln

Unternehmenssektor	Anzahl lokaler Partnerschaften	Gesamtwirtschaftliche Auswirkungen
Kredite für kleine Unternehmen	347	128,5 Millionen US-Dollar
Gewerbeimmobilien	215	87,3 Millionen US-Dollar
Tourismusbranche	189	62,7 Millionen US-Dollar

Technologieanbieter für digitale Banking-Infrastruktur

First BanCorp arbeitet mit Technologieanbietern zusammen, um die Möglichkeiten des digitalen Bankings zu verbessern:

• Microsoft Azure – Cloud-Infrastruktur
• Amazon Web Services – Cloud Computing
• Anbieter von Cybersicherheitslösungen – Palo Alto Networks
• IBM – Sicherheitslösungen für Unternehmen

Gesamte Technologieinvestitionen in Partnerschaften: 42,6 Millionen US-Dollar (2023)

Erste BanCorp. (FBP) – Geschäftsmodell: Schlüsselaktivitäten

Geschäfts- und Privatkundendienstleistungen

First BanCorp meldete im vierten Quartal 2023 eine Bilanzsumme von 28,5 Milliarden US-Dollar. Der Nettozinsertrag für 2023 betrug 752,6 Millionen US-Dollar. Die Bank betreibt 164 Filialen in Puerto Rico und auf den Amerikanischen Jungferninseln.

Kategorie Bankdienstleistungen	Gesamtvolumen (2023)
Kreditportfolio	21,3 Milliarden US-Dollar
Einzahlungsbasis	24,7 Milliarden US-Dollar
Kommerzielle Kreditvergabe	8,6 Milliarden US-Dollar
Verbraucherkredite	12,7 Milliarden US-Dollar

Entwicklung einer digitalen Banking-Plattform

Digitale Banking-Transaktionen stiegen im Jahr 2023 um 37 %. Die Zahl der Mobile-Banking-Nutzer erreichte 285.000, was 62 % des gesamten Kundenstamms entspricht.

• Nutzer der Online-Banking-Plattform: 412.000
• Downloads mobiler Apps: 178.000 im Jahr 2023
• Digitales Transaktionsvolumen: 4,2 Milliarden US-Dollar

Risikomanagement und Finanzberatung

Die Quote der notleidenden Kredite lag im Jahr 2023 bei 1,45 %. Gesamtinvestitionen ins Risikomanagement: 42,3 Millionen US-Dollar.

Risikomanagement-Metrik	Wert 2023
Rückstellungen für Kreditverluste	326 Millionen Dollar
Kreditrisikodeckungsquote	2.1%

Kreditvergabe und Kreditdienstleistungen

Die gesamten Kreditvergaben beliefen sich im Jahr 2023 auf 3,9 Milliarden US-Dollar. Hypothekarkreditvolumen: 1,2 Milliarden US-Dollar.

• Gewerbliche Kreditgenehmigungen: 68 % Genehmigungsquote
• Durchschnittliche Kreditbearbeitungszeit: 12 Werktage
• Investitionen in das Kreditbewertungssystem: 5,7 Millionen US-Dollar

Vermögensverwaltungslösungen

Das verwaltete Vermögen (AUM) belief sich im Jahr 2023 auf insgesamt 2,6 Milliarden US-Dollar.

Segment Vermögensverwaltung	Leistung 2023
Private-Banking-Kunden	7,200
Anlageberatungsgebühren	42,3 Millionen US-Dollar
Ruhestandsplanungsdienste	1,1 Milliarden US-Dollar AUM

Erste BanCorp. (FBP) – Geschäftsmodell: Schlüsselressourcen

Starke finanzielle Kapitalbasis

Gesamtvermögen im vierten Quartal 2023: 25,4 Milliarden US-Dollar Gesamteigenkapital: 3,1 Milliarden US-Dollar Kernkapitalquote: 14,2 %

Finanzkennzahl	Wert
Gesamteinlagen	20,1 Milliarden US-Dollar
Nettokredite	16,8 Milliarden US-Dollar
Eigenkapitalrendite (ROE)	12.3%

Umfangreiches Filialnetz in Puerto Rico

Gesamtzahl der physischen Filialen: 57 Geldautomatennetz: 129 Standorte Geografische Abdeckung: 100 % von Puerto Rico

Fortschrittliche digitale Banking-Technologie

• Mobile-Banking-Plattform mit 250.000 aktiven Nutzern
• Online-Banking-Penetration: 68 % des Kundenstamms
• Digitales Transaktionsvolumen: 2,3 Millionen monatliche Transaktionen

Erfahrenes Management-Team

Führungsposition	Jahrelange Erfahrung
CEO	28 Jahre im Bankwesen
Finanzvorstand	22 Jahre im Finanzdienstleistungsbereich
CTO	18 Jahre in der Technik

Umfangreiche Kundendatenbank

Gesamtkundenstamm: 480.000 Privatkunden: 365.000 Firmenkunden: 115.000

• Kundenbindungsrate: 87 %
• Durchschnittliche Kundenbeziehungsdauer: 9,2 Jahre

Erste BanCorp. (FBP) – Geschäftsmodell: Wertversprechen

Integrierte Finanzdienstleistungen für verschiedene Kundensegmente

First BanCorp bietet Finanzdienstleistungen in mehreren Segmenten mit spezifischen Produktangeboten an:

Kundensegment	Produktpalette	Jährlicher Umsatzbeitrag
Persönliches Banking	Schecks, Ersparnisse, Kredite	387,5 Millionen US-Dollar
Kleines Unternehmen	Geschäftskredite, Händlerdienstleistungen	215,6 Millionen US-Dollar
Firmenkundengeschäft	Handelskredit, Treasury Management	492,3 Millionen US-Dollar

Wettbewerbsfähige Zinssätze und Bankprodukte

Zinsangebote ab 2024:

• Persönliche Sparkonten: 1,75 % effektiver Jahreszins
• Geschäftsscheck: 2,25 % Zinssatz
• Hypothekendarlehen: 6,35 % Festzins
• Privatkredite: Ab 7,45 %

Personalisiertes Kunden-Banking-Erlebnis

Kundendienstkennzahlen:

Servicemetrik	Leistung
Durchschnittliche Reaktionszeit	12 Minuten
Kundenzufriedenheitsrate	88.6%
Digitale Supportkanäle	4 Plattformen

Robuste digitale und mobile Banking-Plattformen

Statistiken zum digitalen Banking:

• Mobile-Banking-Nutzer: 325.000
• Online-Transaktionsvolumen: 4,2 Millionen monatlich
• Verfügbarkeit der digitalen Plattform: 99,97 %

Lokale Marktexpertise in der Karibikregion

Regionale Marktdurchdringung:

Land	Marktanteil	Niederlassungsstandorte
Puerto Rico	42.3%	87 Filialen
Amerikanische Jungferninseln	29.6%	24 Filialen
Dominikanische Republik	18.5%	15 Filialen

Erste BanCorp. (FBP) - Geschäftsmodell: Kundenbeziehungen

Persönliches Bankbeziehungsmanagement

First BanCorp unterhält ab 2023 387 Bankzentren in Puerto Rico und auf den Amerikanischen Jungferninseln. Die Bank betreut rund 1,2 Millionen Kunden durch direkte persönliche Banking-Interaktionen.

Kundeninteraktionskanal	Jährliches Engagementvolumen
Beratungen in der Filiale	342,000
Persönliche Interaktionen mit Beziehungsmanagern	128,500

Online- und mobiler Kundensupport

Die digitalen Kundensupportkanäle von First BanCorp verarbeiteten im Jahr 2023 2,4 Millionen Kundendienstinteraktionen.

• Reaktionszeit digitaler Supportkanäle: Durchschnittlich 12 Minuten
• Gelöste Support-Tickets für mobile Apps: 876.000
• Online-Chat-Support-Interaktionen: 1,2 Millionen

Digitale Self-Service-Banking-Tools

Statistiken zur Nutzung digitaler Banking-Plattformen für 2023:

Digitaler Service	Monatlich aktive Benutzer
Mobile-Banking-App	524,000
Online-Banking-Plattform	689,000

Maßgeschneiderte Finanzberatungsdienste

First BanCorp bietet spezialisierte Finanzberatungsdienste in mehreren Segmenten an:

• Vermögensverwaltungskunden: 42.500
• Durchschnittlicher Portfoliowert: 1,3 Millionen US-Dollar
• Personalisierte Finanzplanungssitzungen: 18.700 jährlich

Treueprogramme für Langzeitkunden

Kennzahlen zur Kundenbindung für 2023:

Segment Treueprogramm	Anzahl der Teilnehmer
Premium-Banking-Treueprogramm	128,500
Langfristige Kundenprämien	76,300

Erste BanCorp. (FBP) – Geschäftsmodell: Kanäle

Physisches Filialnetz

Ab 2023 ist First BanCorp. betreibt insgesamt 164 Filialen in Puerto Rico und auf den Amerikanischen Jungferninseln.

Standort	Anzahl der Filialen
Puerto Rico	154
Amerikanische Jungferninseln	10

Online-Banking-Plattform

Erste BanCorp. bietet digitale Bankdienstleistungen über die FirstBank Online-Plattform an.

• Aktive Online-Banking-Nutzer: 287.000 im vierten Quartal 2023
• Digitales Transaktionsvolumen: 3,2 Millionen monatliche Transaktionen
• Sicherheitsfunktionen der Online-Plattform: Multi-Faktor-Authentifizierung, Verschlüsselungsprotokolle

Mobile-Banking-Anwendung

Die mobile FirstBank-App ist auf iOS- und Android-Plattformen verfügbar.

Metriken für mobile Apps	Daten für 2023
Gesamtzahl der Downloads mobiler Apps	215,000
Monatlich aktive Benutzer	142,000

ATM-Netzwerk

Erste BanCorp. unterhält eine umfangreiche Geldautomaten-Infrastruktur.

• Gesamtzahl der Geldautomatenstandorte: 245
• Netzabdeckung: Puerto Rico und Amerikanische Jungferninseln
• Monatliches Transaktionsvolumen an Geldautomaten: 1,1 Millionen Transaktionen

Kundendienst-Callcenter

Erste BanCorp. betreibt zentralisierte Kundensupportkanäle.

Callcenter-Kennzahlen	Leistung 2023
Total-Support-Vertreter	187
Durchschnittliche Reaktionszeit	3,2 Minuten
Jährliches Anrufvolumen	1,4 Millionen Anrufe

Erste BanCorp. (FBP) – Geschäftsmodell: Kundensegmente

Privatkunden

First BanCorp betreut rund 1,3 Millionen Privatkunden, hauptsächlich in Puerto Rico. Die Aufschlüsselung des Kundenstamms umfasst:

Kundenkategorie	Prozentsatz	Ungefähre Anzahl
Inhaber persönlicher Girokonten	42%	546,000
Inhaber persönlicher Sparkonten	35%	455,000
Benutzer des digitalen Bankings	65%	845,000

Kleine und mittlere Unternehmen

First BanCorp unterstützt rund 45.000 kleine und mittlere Unternehmen (KMU) in ganz Puerto Rico.

• Durchschnittliches Kreditportfolio pro KMU: 250.000 US-Dollar
• Gesamtes KMU-Kreditportfolio: 11,25 Milliarden US-Dollar
• Belieferte Branchen:
  • Einzelhandel: 28 %
  • Dienstleistungen: 24 %
  • Herstellung: 18 %
  • Bau: 15 %
  • Sonstiges: 15 %

Firmenkunden

First BanCorp betreut rund 500 Firmenkunden mit einem gesamten Firmenbankvermögen von 6,7 Milliarden US-Dollar.

Unternehmenssegment	Anzahl der Kunden	Durchschnittlicher Vermögenswert
Große Unternehmen	75	35 Millionen Dollar
Mittelständische Unternehmen	225	12 Millionen Dollar
Firmenkunden	200	5 Millionen Dollar

Vermögende Privatpersonen

First BanCorp verwaltet rund 12.000 Konten vermögender Privatpersonen.

• Durchschnittlicher Kontowert: 2,5 Millionen US-Dollar
• Gesamtes verwaltetes Vermögen: 30 Milliarden US-Dollar
• Abdeckung durch Vermögensverwaltungsdienstleistungen: 95 % der vermögenden Kunden

Staatliche und institutionelle Kunden

First BanCorp bietet Bankdienstleistungen für 250 staatliche und institutionelle Kunden an.

Clienttyp	Anzahl der Kunden	Gesamte Bankbeziehungen
Regierungsbehörden	125	2,3 Milliarden US-Dollar
Bildungseinrichtungen	75	650 Millionen Dollar
Gemeinnützige Organisationen	50	400 Millionen Dollar

Erste BanCorp. (FBP) - Geschäftsmodell: Kostenstruktur

Vergütung und Zusatzleistungen für Mitarbeiter

Für das Geschäftsjahr 2023 meldete First BanCorp einen Gesamtaufwand für die Mitarbeitervergütung in Höhe von 246,3 Millionen US-Dollar.

Ausgabenkategorie	Betrag ($)
Gehälter	187,450,000
Leistungen an Arbeitnehmer	58,850,000
Gesamtvergütung	246,300,000

Wartung der Technologieinfrastruktur

Die Wartungskosten für Technologie und Infrastruktur beliefen sich im Jahr 2023 auf insgesamt 78,5 Millionen US-Dollar.

• Wartung der IT-Systeme: 42,3 Millionen US-Dollar
• Cybersicherheitsinfrastruktur: 21,7 Millionen US-Dollar
• Digitale Banking-Plattformen: 14,5 Millionen US-Dollar

Betriebskosten der Filiale

Die Betriebskosten des Filialnetzes beliefen sich im Jahr 2023 auf 92,6 Millionen US-Dollar.

Filialausgabentyp	Betrag ($)
Miete und Ausstattung	38,750,000
Dienstprogramme	16,900,000
Wartung	22,450,000
Branchenausrüstung	14,500,000

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Aufwendungen für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf 35,2 Millionen US-Dollar.

• Rechts- und Compliance-Abteilung: 22,6 Millionen US-Dollar
• Regulatorische Meldesysteme: 8,3 Millionen US-Dollar
• Compliance-Schulung: 4,3 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

Die Marketing- und Kundenakquisekosten beliefen sich im Jahr 2023 auf 37,4 Millionen US-Dollar.

Kategorie der Marketingausgaben	Betrag ($)
Digitales Marketing	15,600,000
Traditionelle Werbung	9,800,000
Kundengewinnungsprogramme	12,000,000

Erste BanCorp. (FBP) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Darlehen

Für das Geschäftsjahr 2023 meldete First BanCorp einen Gesamtzinsertrag von 622,1 Millionen US-Dollar. Aufschlüsselung der Kreditzinsen:

Kreditkategorie	Zinserträge (Mio. USD)
Gewerbliche Kredite	287.4
Wohnhypotheken	213.6
Verbraucherkredite	121.1

Gebühren für Bankdienstleistungen

Die Gebühren für Bankdienstleistungen beliefen sich im Jahr 2023 auf insgesamt 156,3 Millionen US-Dollar, mit folgender Verteilung:

• Kontoführungsgebühren: 42,7 Millionen US-Dollar
• Transaktionsgebühren: 63,9 Millionen US-Dollar
• Überziehungsgebühren: 29,5 Millionen US-Dollar
• Sonstige Servicegebühren: 20,2 Millionen US-Dollar

Investment- und Vermögensverwaltungsdienstleistungen

Der Umsatz aus Investmentdienstleistungen erreichte im Jahr 2023 94,6 Millionen US-Dollar, bestehend aus:

Servicekategorie	Umsatz (Mio. USD)
Vermögensverwaltungsgebühren	52.3
Finanzberatungsdienste	27.8
Maklerprovisionen	14.5

Gebühren für digitale Banktransaktionen

Die Einnahmen aus digitalen Banktransaktionen beliefen sich im Jahr 2023 auf 73,2 Millionen US-Dollar:

• Online-Banking-Transaktionen: 38,6 Millionen US-Dollar
• Mobile-Banking-Gebühren: 24,7 Millionen US-Dollar
• Digitale Zahlungsabwicklung: 9,9 Millionen US-Dollar

Einnahmen aus der Kreditkarten- und Zahlungsabwicklung

Die Einnahmen aus Kreditkarten- und Zahlungsabwicklung beliefen sich im Jahr 2023 auf insgesamt 112,5 Millionen US-Dollar:

Einnahmequelle	Betrag (Mio. USD)
Wechselkursgebühren	67.3
Jährliche Kreditkartengebühren	29.4
Gebühren für die Zahlungsabwicklung	15.8

First BanCorp. (FBP) - Canvas Business Model: Value Propositions

You're looking at the core things First BanCorp. offers its clients, the reasons they choose them over other regional banks. Honestly, it boils down to comprehensive service and specialized lending strength, especially in their home markets.

Full-service banking across commercial, retail, and wealth management.

First BanCorp. structures its value around serving a wide financial spectrum. They operate through six distinct segments to cover these needs. This structure means they can handle everything from a local business's treasury needs to an individual's checking account.

• Mortgage Banking segment.
• Consumer (Retail) Banking segment.
• Commercial and Corporate Banking segment.
• Treasury and Investments segment.
• United States Operations segment.
• Virgin Islands Operations segment.

The scale of their operations supports this breadth; as of the third quarter of 2025, total loans surpassed $13 billion for the first time since 2010, and customer deposits stood at $12.8 billion.

Specialized commercial real estate and construction financing.

This is a clear area of focus and growth for First BanCorp. They are putting capital to work in property development and business expansion. In the third quarter of 2025 alone, growth in commercial and construction loans added $159.6 million to the portfolio, split between Puerto Rico ($109.9 million) and Florida ($53.5 million). To give you a sense of the concentration, as of March 31, 2025, commercial real estate loans accounted for 64% of the total loan book, reaching $696.63 million. It's worth noting that about 52% of their commercial and construction loans had variable rates as of June 30, 2025, which impacts their interest income sensitivity.

Here's a quick look at the loan portfolio composition from early 2025, showing where the focus was:

Loan Category	Balance (as of March 31, 2025)	Percentage of Total Loans
Commercial Real Estate Loans	$696.63 million	64%
Commercial and Industrial (C&I) Loans	$260.06 million	24%
Residential RE 1-4 Family Loans	$17.15 million	2%
Real Estate Construction and Land Development	$12.65 million	1%

Seamless omnichannel experience for customer interaction.

First BanCorp. supports its service offering with digital access, which is critical for modern banking. The Consumer (Retail) Banking segment specifically offers internet banking services alongside traditional channels. This means you can manage your checking, savings, and consumer credit lines through digital means, which is a baseline expectation for customers today. The bank's ability to generate a record net interest income of $217.9 million in Q3 2025 suggests their deposit gathering and loan management across all channels is working efficiently.

Competitive mortgage products adhering to government program standards.

The Mortgage Banking segment is dedicated to residential mortgage loans, including origination, sale, and servicing. The value proposition here is providing products that align with established standards, which often means conforming to government-backed programs. This segment's performance is reflected in the credit quality figures; for instance, the provision for credit losses saw a $2.2 million net benefit in Q3 2025, partly due to updates in the residential mortgage loan portfolio experience. Their total assets were $1.56 billion at the end of Q1 2025, underpinning the capacity to service these markets.

Finance: draft 13-week cash view by Friday.

First BanCorp. (FBP) - Canvas Business Model: Customer Relationships

You're looking at how First BanCorp. manages its connections with different client groups as of late 2025. The approach is clearly segmented, moving from highly personalized service for the largest clients to scalable digital interaction for the retail base.

Dedicated relationship managers for large commercial and public sector clients.

For your most significant commercial and public sector relationships, First BanCorp. maintains a high-touch model. This is supported by the bank's overall commercial lending strength; total loans surpassed the $13 billion threshold for the first time since 2010 in the third quarter of 2025. Commercial and construction loans grew by $159.6 million in Q3 2025 alone, with significant contribution from the Puerto Rico region. The overall employee base supporting these operations was reported at 3,317 as of February 2025.

High-touch advisory for wealth management and insurance clients.

The advisory side, which includes the FirstBank Insurance Agency, LLC, generates non-interest income that fluctuates seasonally. For instance, the second quarter of 2025 included $3.3 million in seasonal contingent insurance commissions. The company operates across six segments, including Treasury and Investments, which handles funding and liquidity management, supporting the broader client base.

Digital self-service for retail banking.

The retail segment relies heavily on digital channels for efficiency. First BanCorp. has seen an 8% annual rise in digital active customers over the past five years. This focus on digital self-service is part of a broader strategy to reduce reliance on physical branches. In 2021, approximately 40% of all deposit transactions were captured through self-service channels.

Proactive credit policy adjustments to manage consumer risk.

Credit policy adjustments are evident in the improving asset quality metrics reported through the third quarter of 2025. The Net Charge-Offs (NCOs) ratio stood at 62 basis points of average loans in Q3 2025. Furthermore, the Allowance for Credit Losses (ACL) to Loans Ratio fell to 1.89% by the end of Q3 2025, reflecting healthier residential mortgage reserves and updated macro expectations. Management noted that consumer charge-off levels continued to normalize while commercial charge-offs remained very low.

Here is a snapshot of the operational scale relevant to customer service and risk management as of mid-to-late 2025:

Metric	Value / Rate (Latest Reported Period)	Period Reference
Total Employees	3,317	February 2025
Digital Active Customers Growth (Annualized)	8% rise	Over past five years
Total Loan Portfolio	$13.1 billion	Q3 2025
Net Charge-Offs to Average Loans	62 basis points	Q3 2025
ACL to Loans Ratio	1.89%	Q3 2025
Core Deposits Growth (Linked Quarter Annualized)	4.4%	Q3 2025

The bank's commitment to its client base is also reflected in its overall financial health, which supports these relationship strategies:

• Net Income for Q3 2025 reached $100.5 million.
• Adjusted Return on Average Assets (ROAA) was a strong 1.70% in Q3 2025.
• Net Interest Margin (NIM) grew 32 basis points over the last 4 quarters, reaching 4.57% in Q3 2025.
• The Efficiency Ratio was sustained at 50% in Q3 2025.

The strategic reorganization announced in January 2025 aimed at enhancing customer experience suggests continued investment in these relationship structures [cite: 12 from previous search].

First BanCorp. (FBP) - Canvas Business Model: Channels

You're looking at how First BanCorp. gets its products and services-from checking accounts to commercial loans-into the hands of its customers across its operating regions. The channel strategy balances a physical footprint with a strong digital push, which is key given the market dynamics in Puerto Rico and Florida.

The physical presence, while evolving, remains significant. As of late 2025 reporting, First BanCorp. operates a network totaling 154 branches, stand-alone offices and in-branch service centers across Puerto Rico, the U.S. and British Virgin Islands, and Florida. This physical network supports the core relationship banking model.

The digital channels are where you see substantial investment and growth. First BanCorp. provides both retail and corporate portals for digital access. While the most granular digital adoption figures available are from 2021, they show the trajectory: the retail digital banking platform reached approximately 300,000 active users, and interactions with the corporate portal were up by 39% when compared to the previous year. The bank, led by CEO Aurelio Alemán, is clearly pushing these platforms for efficiency and customer convenience.

Self-service is a major component of transaction processing. The adoption of digital capabilities for consumer loans sales is progressing, and, based on the latest reported data, approximately 40% of all deposit transactions were captured through self-service channels. This suggests a heavy reliance on ATMs and digital deposits to handle routine customer activity.

For consumer lending, First BanCorp. has digitized a key origination point. They expanded the eContracting digital platform to auto dealership clients, making FirstBank the first financial institution to provide a fully digitalized contract management system in Puerto Rico. This moves the point-of-sale for auto loans directly into the dealer network using digital tools.

Here's a snapshot of the scale of the business these channels support as of the third quarter of 2025:

Metric	Amount (as of Q3 2025)
Total Assets	$19.3 billion
Total Loans	$13.1 billion
Total Deposits	$16.8 billion
Core Deposits (Excluding Brokered/Govt)	$12.8 billion
Total Physical Facilities (Branches/Offices)	154

The channel strategy relies on a mix of physical access and digital efficiency. You can see the operational focus in the efficiency ratio, which was sustained in the top quartile at 50% for the second quarter of 2025. This low ratio is partly a result of driving transactions through lower-cost digital and self-service means.

The digital and physical mix is also reflected in how customers interact with their accounts:

• Retail digital banking platform active users show the scale of digital engagement.
• Corporate portal interactions show business client adoption.
• The 40% self-service capture rate highlights ATM/digital transaction dominance for deposits.
• The eContracting platform streamlines auto loan origination at the dealer level.

To be fair, the growth in Florida and the Virgin Islands means the physical network serves multiple jurisdictions, not just one market. Finance: draft a 13-week cash flow projection by Friday, incorporating expected capital deployment from the recently authorized $200 million buyback.

First BanCorp. (FBP) - Canvas Business Model: Customer Segments

You're looking at the core groups First BanCorp. (FBP) serves, which really dictates how they structure their lending and deposit-gathering efforts across Puerto Rico, Florida, and the U.S. and British Virgin Islands. Honestly, the business is clearly segmented by the type of relationship they maintain with each group.

Commercial and Corporate Clients (middle-market and specialized)

This group is driving a lot of the balance sheet growth right now. Management has shown continued discipline in this area, which is smart given the current environment. The total loan portfolio surpassed the $13 billion threshold for the first time since 2010, reaching $13.1 billion as of September 30, 2025, after growing by $181.4 million in the third quarter alone.

The heavy lifting in that loan growth came from commercial and construction loans, which increased by $159.6 million in the quarter. You see this split across their core markets, with $109.9 million of that growth in the Puerto Rico region and $53.5 million in the Florida region. New loan originations for commercial clients were yielding about 6.7% on average in the quarter. To be fair, credit quality here remains healthy, with commercial charge-offs continuing to be very low.

Public Sector/Government Entities (significant deposit base)

Government entities are a key source of funding, providing a significant deposit base, though it comes with specific pricing dynamics. Competition for these funds is real, mainly coming from smaller, existing local banks, not necessarily new external entrants. This competition has forced some rate adjustments; for instance, the cost of government deposits saw a 15 basis point increase during the quarter. What this estimate hides is the contractual nature of some of this funding; as of Q3 2025, about 40% of the government deposit book is indexed to market rates.

Retail/Consumer customers in core geographic markets

The consumer side is showing some signs of normalization and slower growth compared to the commercial push. While the residential mortgage portfolio saw its average balance grow by $19 million for the quarter, overall consumer loan originations were below expectations, leading to a net decrease in the average balance for that portfolio by $12 million. Consumer charge-off levels are continuing to normalize, which is something to watch, though they remain relatively stable overall. On the deposit side, core customer deposits, which exclude brokered and government funds, grew by $138.7 million to reach $12.8 billion, showing healthy growth in non-interest-bearing accounts and time deposits from this segment.

Here's the quick math on the loan yields for consumer-facing products:

Loan Type	Average Yield (Q3 2025)	Quarterly Balance Change
Commercial Loans	6.7%	Average Balance up $126 million
Residential Mortgages	6.0% - 6.4% range	Average Balance up $19 million
Consumer Loans (Non-Card)	10.5%	Average Balance down $12 million

High-net-worth individuals and institutional investors

While not explicitly detailed as a loan segment, these groups are critical for capital structure and shareholder returns. The focus here is on capital deployment and shareholder return actions. First BanCorp. executed on returning capital by repurchasing $50.0 million in common stock during the third quarter of 2025. Furthermore, the board authorized another significant buyback program of up to $200 million. The high level of institutional interest is clear, with institutional ownership standing at 98.37% as of the Q3 2025 reporting period. The bank's estimated Common Equity Tier 1 (CET1) capital ratio was a strong 16.67% as of September 30, 2025.

You can see the focus on capital returns and stability through these metrics:

• Authorized Share Repurchase Program: Up to $200 million
• Shares Repurchased in Q3 2025: $50.0 million
• Estimated CET1 Capital Ratio (Sept 30, 2025): 16.67%
• Institutional Ownership (Q3 2025): 98.37%

Finance: draft 13-week cash view by Friday.

First BanCorp. (FBP) - Canvas Business Model: Cost Structure

The Cost Structure for First BanCorp. is heavily influenced by operating expenses and provisions necessary to maintain asset quality and support business scale. You need to watch these line items closely as they directly impact profitability, so here are the concrete numbers from the latest reporting period.

High non-interest expenses totaled $124.9 million for the third quarter of 2025. This figure represented an increase of $1.6 million from the second quarter of 2025, or $1 million higher according to another report. This rise was largely driven by a $2.8 million valuation adjustment recorded for a commercial Other Real Estate Owned (OREO) property due to ongoing litigation, which was partially offset by other factors.

Provision for credit losses for the third quarter of 2025 was recorded at $17.6 million. This was a decrease from the $20.6 million recorded in the prior quarter. The reduction was mainly due to a $2.2 million net benefit in the residential mortgage loan portfolio, reflecting improved historical loss experience and better unemployment rate projections.

Employee compensation and benefits remain a major operating expense component. For the third quarter of 2025, payroll expenses actually decreased by $300,000 compared to the prior quarter. This decrease was due to a $2.3 million benefit received from the Employee Retention Credit (ERC). This benefit compensated for a $1.8 million increase stemming from annual merit increases and the impact of an additional payroll day in the quarter.

The firm is also allocating resources toward future operational efficiency. Management reiterated guidance for the expense base in the next couple of quarters to be between $125 million and $126 million. This projection accounts for the projected expense trend for technology projects and business promotion efforts planned for the fourth quarter of 2025. If you exclude the OREO valuation adjustment and the ERC, the adjusted expenses were $126.2 million for Q3 2025.

Here's a quick look at the key expense drivers and related figures for Q3 2025:

Expense Category	Q3 2025 Amount	Sequential Change (vs. Q2 2025)
Total Non-Interest Expenses	$124.9 million	Increase of $1.6 million
Provision for Credit Losses (Total)	$17.6 million	Decrease from $20.6 million
Net Loss (Gain) on OREO Operations Impact	$1.6 million (unfavorable variance)	Driven by $2.8 million valuation adjustment
Employee Retention Credit (ERC) Benefit	$2.3 million	Recorded as a benefit in the quarter

You should also note the breakdown of the provision expense:

• Provision for credit losses for commercial and construction loans: Expense of $1.6 million.
• Provision for credit losses for consumer loans and finance leases: Expense of $18.9 million.
• Total Provision for Credit Losses: $17.6 million.
• Allowance for Credit Losses (ACL) balance: $247 million.

Finance: draft 13-week cash view by Friday.

First BanCorp. (FBP) - Canvas Business Model: Revenue Streams

You're looking at the core ways First BanCorp. brings in money, which, as of late 2025, is heavily weighted toward traditional banking activities, especially interest income.

The primary engine for First BanCorp. revenue in Q3 2025 was Net Interest Income (NII), which hit a record $217.9 million for the quarter ending September 30, 2025. This represented a $2.0 million increase compared to the second quarter of 2025, partly due to the effect of an additional day in the third quarter. The Net Interest Margin (NIM) for the period was 4.57%.

This strong NII performance is directly tied to the growth and yield on the asset side of the balance sheet. Specifically, interest income is generated from the loan portfolio, which surpassed the $13 billion threshold for the first time since 2010. The interest income on loans saw a significant increase of $4.6 million in the third quarter of 2025.

Here is a breakdown of the key components driving the interest-based revenue stream, using the context of the loan portfolio size you mentioned:

Revenue Component	Q3 2025 Financial Data	Contextual Detail
Net Interest Income (NII)	$217.9 million	Record quarterly amount
Interest Income Source	Interest from the $13.1 billion loan portfolio	Loan portfolio surpassed $13 billion threshold
Increase in Interest Income on Loans (QoQ)	$4.6 million increase	Reflected growth in commercial loan balances and yield
Net Interest Margin (NIM)	4.57%	One basis point higher than Q2 2025

Beyond interest earnings, First BanCorp. also relies on fees and services, categorized as Non-interest income. For the third quarter of 2025, this stream totaled $30.8 million. This was a slight decrease of $0.2 million from the prior quarter.

The non-interest income is composed of various charges and fees, which you can see detailed below. Honestly, the slight dip in this area was expected due to lower transactional volumes in some areas.

• Service charges on deposit accounts
• Mortgage banking fees
• Debit and credit card processing income (which saw a decrease)
• Merchant referral income (which provided a partial offset)

The non-interest income figure of $30.8 million for Q3 2025 is the aggregate of these activities.