First BanCorp. Announces Termination Of Consent Order

(RTTNews) - First BanCorp. (FBP) announced that its wholly-owned banking subsidiary, FirstBank Puerto Rico, received notification from the Federal Deposit Insurance Corporation that, effective April 29, 2015, the Consent Order under which FirstBank has been operating since June 2, 2010 was terminated.

President and Chief Executive Officer Aurelio Aleman said, "I am very pleased to report that after almost five years our Consent Order has been lifted. The termination of the Consent Order marks yet another significant milestone for FirstBank, reflecting our improved performance and our team's dedication and determination to improving our franchise capital position, asset quality and profitability."