> . insurance >. consumer loans .< investment .< residential mortgages .< deposits > . commercial loans .< construction loans .< leases 5 00 First BanCorp.> 2001 One Business Profile 1 First BanCorp (“the Corporation”), incorporated in Puerto Rico, is the holding company for FirstBank (“the Bank”), the second largest commercial bank in Puerto Rico. First BanCorp also owns an insurance subsidiary, the FirstBank Insurance Agency. First BanCorp had total assets of $8.2 bil- lion as of December 31, 2001. The Corporation, a Financial Holding Company, operates primarily in the Puerto Rico bank- ing market, offering a wide selection of financial services to a growing number of consumer and commercial customers. Commercial loans, consumer loans, mortgage loans and investment securities are the most important areas of its busi- ness. The Corporation has a $2.1 billion portfolio of commercial loans, commercial mortgages, construction loans and other related commercial products. Its commercial clients include businesses of all sizes covering a wide range of economic activities. First BanCorp has a $1.0 billion portfolio of resi- dential mortgages.The institution also has $1.15 billion in con- sumer loans, concentrated in auto loans and leases, personal loans and credit cards. Its $3.7 billion investment portfolio consists mostly of U.S. Treasury and agency securities and mortgage backed securities. A strategic alliance with a major national brokerage firm allows FirstBank to offer brokerage