Santander BanCorp is the bank holding company for Banco Santander Puerto Rico (Banco Santander). The Corporation's main subsidiary, Banco Santander, is a commercial bank that provides a wide range of financial products and services to a diverse customer base that includes small and medium-size businesses, large corporations and individuals. The Bank also provides mortgage-banking services through its wholly owned subsidiary, Santander Mortgage Corporation, which has seven offices in Puerto Rico. The Corporation's other subsidiary, Santander Insurance Agency, was organized as Santander BanCorp and became the first financial holding company in Puerto Rico to have a subsidiary licensed as an insurance agency by the Insurance Commissioner of Puerto Rico. Santander BanCorp organizes its operations in three principal lines of business: commercial banking, consumer banking and mortgage banking.