First Bancorp.
FBNC.US | Other monetary intermediation
First Bancorp is a financial holding company that provides a range of banking services to individuals and businesses. Its primary activities include accepting deposits, making loans (commercial, residential, and consumer), and providing other financial services such as wealth management and insuranc...Show More
Better Health for All
0
First Bancorp's core business of providing banking services (deposits, loans, wealth management) does not have a direct positive or negative impact on health outcomes. The company does not offer health-related products or services, nor does it engage in activities that directly create health risks or require specific health-related disclosures, R&D, or workforce support. Therefore, many health-related KPIs are not applicable to its primary operations. While First Bank's philanthropic efforts include grants to nonprofits and schools that address community needs such as food scarcity, mental, physical, and financial health/wellness, and addiction recovery, the articles do not provide quantitative data on the portion of these grants specifically allocated to health-related initiatives, nor do they detail the company's direct programs or investments in these areas.
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The total philanthropic giving in 2024 was $640,000, but this is not contextualized against revenue or specific health-related expenditure, making it impossible to score KPIs related to the scale of these programs.
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Fair Money & Economic Opportunity
-20
First Bancorp (FBNC.US) maintains an outstanding Community Reinvestment Act (CRA) rating from the Office of the Comptroller of the Currency and received a "satisfactory" CRA rating in its most recent examination by the FDIC.
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The company's 401(k) plan matched 100% of employee deferrals up to 4% and provided a 2% non-elective employer contribution in 2024, which is a form of profit-sharing with employees, but this is not reinvestment in community finance or underserved communities.
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The company offers financial education courses for various age groups and topics, including Smart Women, Smart Kids (Junior, Teen, Plus), and Banzai! Online, as well as content via eStore and in-branch kiosks.
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However, the reach or impact of these programs is not quantified. The company updated its debt programs to allow for higher debt-to-income ratios and accept alternative trade lines for buyers with limited or no credit, indicating an average customer debt-to-income ratio between 30-35%.
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The company operates approximately 350 banking offices across seven states and the District of Columbia, with 113 branches in North and South Carolina, and 57 branches in Puerto Rico, 8 in USVI/BVI, and 8 in Florida.
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The Special Purpose Credit Program is available in majority-minority neighborhoods throughout the FNB footprint.
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The company provides tools like eStore to make account selection and opening processes transparent and consumer-friendly, and offers courses to help customers understand checking accounts, savings accounts, and home loans, suggesting products require middle school level reading.
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Fair Pay & Worker Respect
0
First Bancorp was recognized as one of the "Best Banks to Work For 2024" by American Banker, specifically among banks with less than $3 billion in assets.
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However, the provided articles do not contain specific quantitative data points for any of the Fair Pay & Worker Respect KPIs, such as living wage coverage, CEO to median pay ratio, collective bargaining share, safety incident rate, pay equity ratio, worker engagement score, turnover rate, labor violation incidents, insecure contract share, or health insurance coverage.
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Fair Trade & Ethical Sourcing
0
No specific, concrete data points were found in the provided articles for any of the KPIs related to Fair Trade & Ethical Sourcing.
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Therefore, all KPIs for this value have been omitted.
Honest & Fair Business
-10
First Bancorp has a formal whistleblower policy that encourages associates to report violations to the Director of Internal Audit, who reports to the Audit Committee.
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Retaliation against whistleblowers is prohibited, and a confidential, anonymous hotline is available 24/7.
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The company also has an anti-corruption and anti-bribery policy that explicitly addresses the Foreign Corrupt Practices Act (FCPA), prohibits bribery and corruption, discourages gifts and entertainment above $100, and requires approval for gifts to company personnel.
3
Kind to Animals
0
First BanCorp is a financial services company, and its core business operations do not involve products, animal testing, animal husbandry, or sourcing of animal products. Therefore, KPIs related to cruelty-free certification, alternative testing, humane certifications, ethical input substitution, animal-related supplier audits, cage-free sourcing, animal testing policies, animal testing volume, R&D investment in animal-free technologies, animal agriculture ethics, and animal-free R&D collaboration are not applicable to the company's operations. While First BanCorp partners with Crece Verde to distribute approximately 33,400 trees, the provided evidence does not include measurable biodiversity impact or species recovery metrics required by the rubric for the wildlife conservation impact KPI.
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The company is a member of banking associations, but there is no evidence of engagement in animal welfare policy improvement or advocacy for higher standards.
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No War, No Weapons
0
First Bancorp (FBNC.US) is described as a financial holding company and community bank, primarily engaged in banking services such as deposits, loans, wealth management, and insurance.
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The provided articles contain no information indicating any involvement in arms manufacturing, military contracts, or defense-related activities. Therefore, the company has no revenue from arms or defense contracts, no defense business for board oversight, no exposure to controversial weapons, and no defense assets to divest.
Planet-Friendly Business
-20
The company reported no environmental compliance violations.
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While the company's sustainability reports mention various environmental efforts such as energy efficiency measures, recycling, and reforestation initiatives, they lack specific quantitative data for most other Planet-Friendly Business KPIs. For example, there is no quantified data for total Scope 1, 2, and 3 emissions, percentage of operational energy from renewables, waste diversion rates, or green building certifications.
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Similarly, no SBTi-validated targets, water usage metrics, or details on climate-positive investment percentages are provided.
3
Respect for Cultures & Communities
0
Based on the provided articles, there is insufficient evidence to provide a definitive score for First Bancorp (FBNC.US) regarding 'Respect for Cultures & Communities.' While the articles highlight community engagement and corporate social responsibility programs, they lack specific data related to formal partnerships with indigenous or local community groups, cultural impact assessment protocols, local employment ratios, or other key performance indicators outlined in the scoring rubric
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. The materiality analysis suggests a generally neutral impact, and without concrete evidence of either positive or negative actions related to cultural respect, a score of 0 is most appropriate. More information is needed to accurately assess the company's performance in this area.
Safe & Smart Tech
-20
First Bancorp experienced unauthorized access to customer data stored on a vendor's system between April 5-6, 2023.
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The vendor, MIAC, informed FirstBank Puerto Rico on May 2, 2023, and sent notification letters to affected customers on June 8, 2023.
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The specific number of affected customers and data types compromised are not available.
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The company's privacy policies detail user rights under the California Consumer Privacy Act (CCPA), including requests to know, delete, and correct data, with an initial confirmation within 10 business days and a maximum response time of 45 calendar days.
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However, customers can limit sharing with affiliates for creditworthiness and marketing purposes but cannot limit sharing with non-affiliates.
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Identity verification for CCPA requests requires a valid government-issued photo ID.
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Data retention is based on purpose, corporate standards, legal requirements, and disputes.
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The company explicitly states CCPA compliance and mentions adherence to federal law regarding data sharing limitations.
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Zero Waste & Sustainable Products
-30
The company has implemented several waste reduction initiatives, including recycling over 1.7 million pounds of paper and 84,500 pounds of other materials in 2022.
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They also recycled 1,015 mobile phones and converted 147,000 square feet of office space to recycled materials in the same year.
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In 2023, electronic signatures and iStatements saved 5,800 pounds of wood and almost 1,000 pounds of waste, and 2,355 pounds of computer equipment were donated.
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The company's 2023 revised Service Provider Code of Conduct includes waste requirements for all tier-1 suppliers.
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No waste disposal violations or citations were mentioned in the 2022 report, and no regulatory actions, violations, or fines related to waste management were mentioned in the 2024 report, covering the past two years.
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However, the company does not explicitly state specific waste reduction targets with timelines.
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