First BanCorp Management

Management criteria checks 4/4

First BanCorp's CEO is Aurelio Aleman-Bermudez, appointed in Sep 2009, has a tenure of 14.67 years. total yearly compensation is $4.08M, comprised of 25.2% salary and 74.8% bonuses, including company stock and options. directly owns 0.72% of the company’s shares, worth $21.59M. The average tenure of the management team and the board of directors is 14.2 years and 6.6 years respectively.

Key information

Aurelio Aleman-Bermudez

Chief executive officer

US$4.1m

Total compensation

CEO salary percentage	25.2%
CEO tenure	14.7yrs
CEO ownership	0.7%
Management average tenure	14.2yrs
Board average tenure	6.6yrs

Recent management updates

Recent updates

Analyst Estimates: Here's What Brokers Think Of First BanCorp. (NYSE:FBP) After Its Annual Report

Jan 31

First BanCorp. Q4 2022 Earnings Preview

Jan 26

Do First BanCorp's (NYSE:FBP) Earnings Warrant Your Attention?

Jan 07

First BanCorp. Q3 2022 Earnings Preview

Oct 24

If EPS Growth Is Important To You, First BanCorp (NYSE:FBP) Presents An Opportunity

Sep 03

First BanCorp. goes ex dividend tomorrow

Aug 23

First BanCorp: Stock Price Due For A Breather, Earnings Likely To Continue Full Steam Ahead

Aug 13

First BanCorp. Q2 2022 Earnings Preview

Jul 21

First BanCorp: Revising The Earnings Estimate Upwards Thanks To Better Provisioning Outlook

May 26

First BanCorp (NYSE:FBP) Is Increasing Its Dividend To US$0.12

May 02

Does First BanCorp (NYSE:FBP) Deserve A Spot On Your Watchlist?

Mar 30

First BanCorp: Attractively Valued With A Stable Earnings Outlook

Mar 06

First BanCorp: Flattish Earnings Outlook

Nov 27

First BanCorp.: Net Provision Reversals To Drive Earnings

Sep 08

First BanCorp: Balance Sheet Growth, Subdued Credit Costs To Drive Earnings Recovery

Jun 15

CEO Compensation Analysis

How has Aurelio Aleman-Bermudez's remuneration changed compared to First BanCorp's earnings?
Date	Total Compensation	Salary	Company Earnings
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
Sep 30 2018	n/a	n/a	US$122m
Jun 30 2018	n/a	n/a	US$75m
Mar 31 2018	n/a	n/a	US$72m
Dec 31 2017	US$3m	US$959k	US$64m

Compensation vs Market: Aurelio's total compensation ($USD4.08M) is below average for companies of similar size in the US market ($USD6.67M).

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

CEO

Aurelio Aleman-Bermudez (64 yo)

14.7yrs

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	14.7yrs	US$4.08m	0.72% $ 21.6m
Orlando Berges-González	Executive VP & CFO	14.8yrs	US$1.48m	0.17% $ 5.0m
Donald Kafka	Executive VP & COO	9.3yrs	US$1.11m	0.14% $ 4.1m
Cassan Pancham	Executive VP & Business Group Director	18.6yrs	US$1.03m	0.18% $ 5.3m
Nayda Rivera-Batista	Executive VP & Chief Risk Officer	18.1yrs	US$1.26m	0.16% $ 4.7m
Said Ortiz	Chief Accounting Officer	2.6yrs	no data	0.021% $ 643.0k
Ramon Rodriguez	Senior Vice President of Corporate Strategy / Investor Relations	no data	no data	no data
Sara Alvarez-Cabrero	Executive VP	16.7yrs	no data	0.036% $ 1.1m
Ginoris Lopez-Lay	Executive VP & Strategic Management Director	14.2yrs	no data	0.16% $ 4.6m
Thomas McDonald	Executive VP & Business Group Director	11.7yrs	US$712.34k	0.066% $ 2.0m
Jose Lacasa	Executive VP & Florida Business Director	2.6yrs	no data	0.034% $ 1.0m
Juan Pavia	Executive VP & Chief Credit Officer	3yrs	no data	0.040% $ 1.2m

14.2yrs

Average Tenure

58yo

Average Age

Experienced Management: FBP's management team is seasoned and experienced (14.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Aurelio Aleman-Bermudez	President	14.7yrs	US$4.08m	0.72% $ 21.6m
Roberto Herencia	Independent Chairman	12.6yrs	US$500.17k	0.45% $ 13.5m
Félix Villamil	Independent Director	3.6yrs	US$130.17k	0.0093% $ 279.1k
Juan Reboyras	Independent Director	9.8yrs	US$152.67k	0.044% $ 1.3m
John Heffern	Independent Director	6.6yrs	US$156.17k	0.053% $ 1.6m
Tracey Dedrick	Independent Director	5.3yrs	US$140.17k	0.017% $ 517.2k
Luz Crespo	Independent Director	9.3yrs	US$150.17k	0.036% $ 1.1m
Patricia Eaves	Independent Director	3.2yrs	US$126.67k	0.011% $ 327.3k
Daniel Frye	Independent Director	5.8yrs	US$141.17k	0.014% $ 427.3k

6.6yrs

Average Tenure

64yo

Average Age

Experienced Board: FBP's board of directors are considered experienced (6.6 years average tenure).

First BanCorp Management

Management criteria checks 4/4

Key information

Recent management updates

Executive VP & CFO recently sold US$1.3m worth of stock

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

President exercised options and sold US$617k worth of stock

Executive VP & CFO notifies of intention to sell stock

President recently sold US$858k worth of stock

Executive VP & COO recently sold US$1.0m worth of stock

Recent updates

Executive VP & CFO recently sold US$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: EPS exceeds analyst expectations

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

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

President exercised options and sold US$617k worth of stock

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

Executive VP & CFO notifies of intention to sell stock

President recently sold US$858k worth of stock

Full year 2023 earnings: EPS exceeds analyst expectations

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

First BanCorp's (NYSE:FBP) Upcoming Dividend Will Be Larger Than Last Year's

Fourth quarter dividend increased to US$0.16

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

Price target increased by 7.4% to US$18.90

Full year 2023 earnings: EPS exceeds analyst expectations

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

First BanCorp: Fairly Priced With A Flattish Earnings Outlook

Executive VP & COO recently sold US$1.0m worth of stock

Executive VP & COO notifies of intention to sell stock

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

Insufficient new directors

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

Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

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

First BanCorp: Worthy Of Consideration

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

Price target increased by 15% to US$16.20

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

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

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 17%

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

First quarter 2023 earnings: EPS and revenues exceed analyst expectations

President exercised options and sold US$1.1m worth of stock

Price target decreased by 7.1% to US$15.60

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

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

First BanCorp Leveraged To Sustained Improvement In Puerto Rico's Economy

Analyst Estimates: Here's What Brokers Think Of First BanCorp. (NYSE:FBP) After Its Annual Report

Full year 2022 earnings: EPS in line with expectations, revenues disappoint

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

First BanCorp. Q4 2022 Earnings Preview

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

Do First BanCorp's (NYSE:FBP) Earnings Warrant Your Attention?

President recently sold US$611k worth of stock

President recently sold US$611k worth of stock

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

Third quarter 2022 earnings: EPS exceeds analyst expectations

First BanCorp. Q3 2022 Earnings Preview

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

If EPS Growth Is Important To You, First BanCorp (NYSE:FBP) Presents An Opportunity

First BanCorp. goes ex dividend tomorrow

Upcoming dividend of US$0.12 per share

Executive VP & CFO recently sold US$782k worth of stock

First BanCorp: Stock Price Due For A Breather, Earnings Likely To Continue Full Steam Ahead

Executive VP & CFO notifies of intention to sell stock

Executive VP & Chief Risk Officer recently sold US$448k worth of stock

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

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

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

First BanCorp. Q2 2022 Earnings Preview

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

First BanCorp: Revising The Earnings Estimate Upwards Thanks To Better Provisioning Outlook

Independent Chairman recently sold US$1.4m worth of stock

Upcoming dividend of US$0.12 per share