I am very pleased to inform you that we have completed the acquisition of Banco Santander Puerto Rico. The merger of FirstBank and Banco Santander Puerto Rico results in an entity with greater resources and capital, which allows us to continue offering the best personalized banking services in Puerto Rico and increase our ability to continue providing innovative financial solutions to individual and commercial customers.
This transaction consolidates our leading position in the island's financial services industry and significantly expands our ability to serve our customers by providing them with:
- A network of 73 branches throughout Puerto Rico, significantly expanding our presence in San Juan, Bayamón, Caguas, and Guaynabo, as well as in the western and southern regions of the island. Over the next few months, we will be working on integrating the branch systems so that we can serve customers of both banks in all branches;
- More than 445 ATMs throughout Puerto Rico. Moreover, effective September 1st, FirstBank and Santander customers will be able to use both FirstBank and Santander ATMs free of charge. In addition, upon the completion of the system integration process, customers will have access to more than 100 ATMs with remote deposit capacity;
- An extensive portfolio of financial products and services, including innovative digital banking alternatives, to conveniently address the needs of our individual and commercial customers; and
- Greater resources, experience, and talent focused on helping our customers achieve all their goals and dreams.
The integration plan is being implemented in stages. As of now, the integration of Mortgage and Insurance products is complete. We encourage you to stay tuned to our communication channels for more details on each stage of the transition.
We are confident that this merger will be tremendously beneficial to Puerto Rico and to the customers of both institutions.
Welcome to FirstBank!
President and Chief Executive Officer