First BanCorp (the “Corporation”) (NYSE: FBP), the bank holding company
for FirstBank Puerto Rico, is pleased to announce the results of its
2015 company-run capital stress test (“Dodd-Frank Act Stress Test” or
“DFAST”). First BanCorp is required to disclose the results of the DFAST
annually, beginning with the 2015 test.
Results indicate that, even in the severely adverse scenario presented
by the test, First BanCorp’s capital ratios exceed both the regulatory
minimum required ratios mandated under Basel III and the
well-capitalized thresholds throughout the nine-quarter time horizon.
Detailed results can be found at www.1firstbank.com
under Investor Relations, Presentations.
About First BanCorp.
First BanCorp. is the parent corporation of FirstBank Puerto Rico, a
state-chartered commercial bank with operations in Puerto Rico, the
Virgin Islands and Florida, and of FirstBank Insurance Agency. First
BanCorp. and FirstBank Puerto Rico operate within U.S. banking laws and
regulations. The Corporation operates a total of 153 branches,
stand-alone offices, and in-branch service centers throughout Puerto
Rico, the U.S. and British Virgin Islands, and Florida. Among the
subsidiaries of FirstBank Puerto Rico are First Federal Finance Corp., a
small loan company; FirstBank Puerto Rico Securities, a broker-dealer
subsidiary; and First Management of Puerto Rico, a domestic corporation
that holds tax-exempt assets. In the U.S. Virgin Islands, FirstBank
operates First Express, a small loan company. First BanCorp’s shares of
common stock trade on the New York Stock Exchange under the symbol FBP.
Additional information about First BanCorp. may be found at www.1firstbank.com.
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