First BanCorp
San Juan,
Puerto Rico |
See all recipients in
Puerto Rico
$424M
Disbursed
$198M
Returned
$38.7M
Revenue to Gov't
$187M
Net Outstanding
This investment resulted in a loss to taxpayers.
| Date | Type | Amount | Program | Description |
|---|---|---|---|---|
| 05/24/2018 | Warrant | $5,702,107 | CPP |
Warrant Proceeds
On 5/17/2018, Treasury exercised its warrant on a cashless basis and received (i) 730,571 shares of common stock and (ii) $6.58 in cash in lieu of fractional shares. Treasury sold such shares of common stock on 5/21/2018 for total proceeds of $5,702,106.66
|
| 05/15/2017 | Refund | $57,735,612 | CPP |
Partial Repayment
On May 15, 2017, Treasury sold 10,291,553 shares of First BanCorp common stock at $5.61 per share for total proceeds of $57,735,612.
|
| 03/06/2015 | Refund | $29,068,439 | CPP |
Partial Repayment
|
| 12/05/2014 | Refund | $22,063,492 | CPP |
Partial Repayment
|
| 09/13/2013 | Refund | $8,514,153 | CPP |
Partial Repayment
|
| 08/16/2013 | Refund | $81,000,000 | CPP |
Partial Repayment
|
| 10/07/2011 | Dividend | $26,388,275 | CPP |
Dividend - Cumulative
|
| 05/31/2009 | Dividend | $6,611,111 | CPP |
Dividends Paid Through 5/31/2009
This amount reflects the sum of dividends paid up to 5/31/2009
|
| 01/16/2009 | Purchase | $424,174,000 | CPP |
Purchase - Preferred Stock w/ Warrants
On 7/20/2010, Treasury completed the exchange of its $400,000,000 of Preferred Stock in First BanCorp for $424,174,000 of Mandatorily Convertible Preferred Stock (MCP), which is equivalent to the initial investment amount of $400,000,000, plus $24,174,000 of capitalized previously accrued and unpaid dividends. Subject to the fulfillment by First BanCorp of certain conditions, including those related to its capital plan, the MCP may be converted to common stock.
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