FirstBank Hires Industry Vets

Ricardo “Ricky” Sanchez

Ricardo (“Ricky”) Sanchez and Juan Carlos (“JC”) Barreto will lead the commercial line of business at FirstBank Florida that announced the addition of two veteran bank executives in February.

The bank has developed a growth and expansion plan to include opening new branches, enhancing commercial and consumer banking capabilities, expanding community service and attracting top talent.

Sanchez joins FirstBank as Group Head, Senior Vice President of Commercial Banking, bringing over 35 years of banking, his most recent role being as Head of Business Lending for US Century Bank in Miami.

Sanchez, a graduate of St. Joseph’s University, Philadelphia, has strong ties to the South Florida community, including the Latin Builders Association and Bay of Pigs Museum. He is also past Chairman of United Home Health Service, Inc., President of the Kiwanis Club of West Dade, on the board of the United Way of Dade County, and as Director of Florida International University Athletics.

Barreto joins FirstBank as Senior Vice President, Commercial Banking Manager, and is also a recent member of US Century Bank in Doral where he served as Senior Vice President in business banking areas. With more than a decade of banking experience, Barreto has served in varying capacities with Regions Bank, Bank of America and Morgan Stanley. His expertise has centered on consumer banking, commercial and industrial banking, commercial real estate, management and strategic planning.

FirstBank Florida, a part of FirstBank Puerto Rico, the second largest financial institution in the island, recently raised $525 million from investors, and has well beyond the capital levels required by regulators. In Florida, FirstBank enjoys the capabilities of a large bank, with the service and responsiveness of a community bank, including local underwriting and local decisions.

“Bringing in Ricky and JC to FirstBank is a great win and an important first step in attracting the finest bankers, growing market share, and better serving our customers and our community”, stated Calixto Garcia-Velez, FirstBank Florida’s EVP and Region Executive.

First BanCorp, the parent corporation of FirstBank Puerto Rico, operates 161 branches, stand-alone offices and in-branch service centers throughout Puerto Rico, the U.S. and British Virgin Islands, and Florida. For information, visit <www.firstbankfla. com>.

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