Termination of enforcement action against First BanCorp

The following press release was published by the Board of Governors of the Federal Reserve System on June 30, 2008. It is reproduced in full below.

The Federal Reserve Board on Monday announced the termination of the enforcement action listed below. Terminations of enforcement actions are listed on the Federal Reserve's public website, www.federalreserve.gov/boarddocs/enforcement, as they occur.

First BanCorp, Santurce, Puerto Rico Cease and Desist Order dated March 16, 2006 Terminated June 24, 2008

Source: Board of Governors of the Federal Reserve System