First BanCorp

San Juan, Puerto Rico | See all recipients in Puerto Rico
Revenue to Gov't
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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