First BanCorp Management

Management criteria checks 3/4

First BanCorp's CEO is Aurelio Aleman-Bermudez, appointed in Sep 2009, has a tenure of 15.33 years. total yearly compensation is $4.08M, comprised of 25.2% salary and 74.8% bonuses, including company stock and options. directly owns 0.64% of the company’s shares, worth €18.75M. The average tenure of the management team and the board of directors is 14.8 years and 7.3 years respectively.

Key information

Aurelio Aleman-Bermudez

Chief executive officer

US$4.1m

Total compensation

CEO salary percentage	25.2%
CEO tenure	15.3yrs
CEO ownership	0.6%
Management average tenure	14.8yrs
Board average tenure	7.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Aurelio Aleman-Bermudez's remuneration changed compared to First BanCorp's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$303m
Jun 30 2024	n/a	n/a	US$311m
Mar 31 2024	n/a	n/a	US$306m
Dec 31 2023	US$4m	US$1m	US$303m
Sep 30 2023	n/a	n/a	US$297m
Jun 30 2023	n/a	n/a	US$289m
Mar 31 2023	n/a	n/a	US$293m
Dec 31 2022	US$4m	US$990k	US$305m
Sep 30 2022	n/a	n/a	US$304m
Jun 30 2022	n/a	n/a	US$304m
Mar 31 2022	n/a	n/a	US$299m
Dec 31 2021	US$4m	US$959k	US$277m
Sep 30 2021	n/a	n/a	US$255m
Jun 30 2021	n/a	n/a	US$208m
Mar 31 2021	n/a	n/a	US$158m
Dec 31 2020	US$4m	US$996k	US$100m
Sep 30 2020	n/a	n/a	US$86m
Jun 30 2020	n/a	n/a	US$104m
Mar 31 2020	n/a	n/a	US$124m
Dec 31 2019	US$3m	US$959k	US$165m
Sep 30 2019	n/a	n/a	US$229m
Jun 30 2019	n/a	n/a	US$219m
Mar 31 2019	n/a	n/a	US$209m
Dec 31 2018	US$4m	US$959k	US$199m

Compensation vs Market: Aurelio's total compensation ($USD4.08M) is above average for companies of similar size in the German market ($USD1.89M).

Compensation vs Earnings: Aurelio's compensation has been consistent with company performance over the past year.

CEO

Aurelio Aleman-Bermudez (65 yo)

15.3yrs

Tenure

US$4,078,567

Compensation

Mr. Aurelio Aleman-Bermudez has been the Chief Executive Officer and President of First BanCorp. since September 28, 2009. Mr. Alemán currently serves as Chairman of the Board of Directors and CEO of the C...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Aurelio Aleman-Bermudez	President	15.3yrs	US$4.08m	0.64% € 18.8m
Orlando Berges-González	Executive VP & CFO	15.4yrs	US$1.48m	0.17% € 5.0m
Donald Kafka	Executive VP & COO	10yrs	US$1.11m	0.058% € 1.7m
Cassan Pancham	Executive VP & Business Group Director	19.3yrs	US$1.03m	0.18% € 5.3m
Nayda Rivera-Batista	Executive VP & Chief Risk Officer	18.8yrs	US$1.26m	0.15% € 4.3m
Said Ortiz	Chief Accounting Officer	3.3yrs	no data	0.022% € 644.8k
Ramon Rodriguez	Senior Vice President of Corporate Strategy / Investor Relations	no data	no data	no data
Sara Alvarez-Cabrero	Executive VP	17.3yrs	no data	0.037% € 1.1m
Ginoris Lopez-Lay	Executive VP & Strategic Management Director	14.8yrs	no data	0.12% € 3.5m
Thomas McDonald	Executive VP & Business Group Director	12.3yrs	US$712.34k	0.054% € 1.6m
Jose Lacasa	Executive VP & Florida Business Director	3.3yrs	no data	0.035% € 1.0m
Juan Pavia	Executive VP & Chief Credit Officer	3.7yrs	no data	0.041% € 1.2m

14.8yrs

Average Tenure

59yo

Average Age

Experienced Management: OLWN's management team is seasoned and experienced (14.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Aurelio Aleman-Bermudez	President	15.3yrs	US$4.08m	0.64% € 18.8m
Roberto Herencia	Independent Chairman	13.3yrs	US$500.17k	0.40% € 11.8m
Félix Villamil	Independent Director	4.3yrs	US$130.17k	0.011% € 311.8k
Juan Reboyras	Independent Director	10.4yrs	US$152.67k	0.046% € 1.4m
John Heffern	Independent Director	7.3yrs	US$156.17k	0.046% € 1.4m
Tracey Dedrick	Independent Director	6yrs	US$140.17k	0.019% € 566.9k
Luz Crespo	Independent Director	9.9yrs	US$150.17k	0.037% € 1.1m
Patricia Eaves	Independent Director	3.8yrs	US$126.67k	0.011% € 328.3k
Daniel Frye	Independent Director	6.4yrs	US$141.17k	0.011% € 323.3k

7.3yrs

Average Tenure

65yo

Average Age

Experienced Board: OLWN's board of directors are considered experienced (7.3 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/02 20:48
End of Day Share Price	2025/01/02 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

First BanCorp. is covered by 16 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Brandon Berman	BofA Global Research
Joseph Gladue	B. Riley Securities, Inc.
Michael Diana	Cantor Fitzgerald & Co.

First BanCorp Management

Management criteria checks 3/4

Key information

Recent management updates

Independent Chairman recently sold €2.1m worth of stock

Executive VP & COO recently sold €1.0m worth of stock

Executive VP & CFO recently sold €1.3m worth of stock

First BanCorp., Annual General Meeting, May 23, 2024

President recently sold €790k worth of stock

Executive VP & COO recently sold €951k worth of stock

Recent updates

Independent Chairman recently sold €2.1m worth of stock

Investor sentiment improves as stock rises 16%

Third quarter dividend of US$0.16 announced

First BanCorp. Declares Quarterly Cash Dividend on Common Stock, Payable on December 13, 2024

Third quarter 2024 earnings released: EPS: US$0.45 (vs US$0.47 in 3Q 2023)

First BanCorp. Announces Net Charge-Offs for the Third Quarter Ended September 30, 2024

New major risk - Revenue and earnings growth

First BanCorp. to Report Q3, 2024 Results on Oct 23, 2024

Upcoming dividend of US$0.16 per share

Second quarter dividend of US$0.16 announced

Executive VP & COO recently sold €1.0m worth of stock

Second quarter 2024 earnings released: EPS: US$0.46 (vs US$0.40 in 2Q 2023)

First BanCorp. Reports Net Charge Offs for the Second Quarter Ended June 30, 2024

First BanCorp. to Report Q2, 2024 Results on Jul 23, 2024

Upcoming dividend of US$0.16 per share

Executive VP & CFO recently sold €1.3m worth of stock

First quarter dividend of US$0.16 announced

First BanCorp. Declares Quarterly Cash Dividend on Common Stock, Payable on June 14, 2024

First quarter 2024 earnings released: EPS: US$0.44 (vs US$0.39 in 1Q 2023)

First BanCorp. Announces Net Charge Offs for the Quarter Ended March 31, 2024

First BanCorp., Annual General Meeting, May 23, 2024

First BanCorp. to Report Q1, 2024 Results on Apr 23, 2024

President recently sold €790k worth of stock

Full year 2023 earnings released: EPS: US$1.72 (vs US$1.60 in FY 2022)

Upcoming dividend of US$0.16 per share at 3.4% yield

Fourth quarter dividend of US$0.16 announced

First BanCorp. Increases Quarterly Cash Dividend on Common Stock, Payable on March 8, 2024

Full year 2023 earnings released: EPS: US$1.72 (vs US$1.60 in FY 2022)

First BanCorp. Reports Net Charge-Off for the Fourth Quarter Ended December 31, 2023

First BanCorp. to Report Q4, 2023 Results on Jan 24, 2024

Executive VP & COO recently sold €951k worth of stock

Upcoming dividend of US$0.14 per share at 3.7% yield

First BanCorp. Declares Quarterly Cash Dividend on Common Stock, Payable on December 8, 2023

Insufficient new directors

Third quarter 2023 earnings released: EPS: US$0.47 (vs US$0.40 in 3Q 2022)

First BanCorp. to Report Q3, 2023 Results on Oct 20, 2023

Upcoming dividend of US$0.14 per share at 3.8% yield

First BanCorp. Reports Net Charge Off for the Second Quarter Ended June 30, 2023

Second quarter 2023 earnings released: EPS: US$0.40 (vs US$0.38 in 2Q 2022)

First BanCorp. (NYSE:FBP) announces an Equity Buyback for $225 million worth of its shares.

First BanCorp. to Report Q2, 2023 Results on Jul 27, 2023

Investor sentiment improves as stock rises 16%

Upcoming dividend of US$0.14 per share at 5.1% yield

First quarter 2023 earnings released: EPS: US$0.39 (vs US$0.42 in 1Q 2022)

Upcoming dividend of US$0.14 per share at 3.9% yield

First BanCorp. Declares Quarterly Cash Dividend, Payable on March 10, 2023

Full year 2022 earnings released: EPS: US$1.60 (vs US$1.32 in FY 2021)

First BanCorp. Reports Net Charge-Off for the Fourth Quarter Ended December 31, 2022

First BanCorp. to Report Q4, 2022 Results on Jan 27, 2023

President recently sold €608k worth of stock

President recently sold €608k worth of stock

First BanCorp. Declares Quarterly Cash Dividend on Its Outstanding Common Stock, Payable on December 9, 2022

Third quarter 2022 earnings released: EPS: US$0.40 (vs US$0.36 in 3Q 2021)

First BanCorp. to Report Q3, 2022 Results on Oct 25, 2022

Upcoming dividend of US$0.12 per share

Executive VP & CFO recently sold €755k worth of stock

Executive VP & Chief Risk Officer recently sold €442k worth of stock

Second quarter 2022 earnings released: EPS: US$0.38 (vs US$0.33 in 2Q 2021)

First BanCorp. Reports Net Charge-Offs for the Second Quarter Ended June 30, 2022

First BanCorp. Declares Quarterly Cash Dividend on Common Stock, Payable on September 9, 2022

First BanCorp. to Report Q2, 2022 Results on Jul 22, 2022

Independent Chairman recently sold €1.3m worth of stock

Upcoming dividend of US$0.12 per share

First quarter 2022 earnings released

First BanCorp. Declares Quarterly Cash Dividend, Payable on June 10, 2022

First BanCorp. to Report Q1, 2022 Results on Apr 28, 2022

First BanCorp., Annual General Meeting, May 20, 2022

Upcoming dividend of US$0.10 per share

Executive VP & Chief Risk Officer recently sold €265k worth of stock