-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IcFFE2DC0hrvStboYFD2/FJWLStH98J0kP0BqcdAm2l9qiW/tKHzsRy0niAXBsYs i3tWqeGM02tiswKnzUJhmA== 0000950144-06-011868.txt : 20061228 0000950144-06-011868.hdr.sgml : 20061228 20061227193720 ACCESSION NUMBER: 0000950144-06-011868 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060825 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20061228 DATE AS OF CHANGE: 20061227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST BANCORP /PR/ CENTRAL INDEX KEY: 0001057706 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 660561882 STATE OF INCORPORATION: PR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14793 FILM NUMBER: 061301462 BUSINESS ADDRESS: STREET 1: 1519 PONCE DE LEON AVE STREET 2: SANTUREE CITY: SAN JUAN STATE: PR ZIP: 00908 BUSINESS PHONE: 7877298200 MAIL ADDRESS: STREET 1: 1519 PONCE DE LEON AVE CITY: SAN JUAN STATE: PR ZIP: 00908 8-K 1 g04791e8vk.htm FIRST BANCORP. FIRST BANCORP.
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): August 25, 2006
FIRST BANCORP.
(Exact Name of Registrant as Specified in its Charter)
         
Puerto Rico   001-14793   66-0561882
(State or Other Jurisdiction   (Commission File Number)   (IRS Employer
of Incorporation)       Identification No.)
1519 Ponce de Leon
San Juan, Puerto Rico 00908-0146
(Address of Principal Executive Offices) (Zip code)
(787) 729-8200
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On August 25, 2006, FirstBank Puerto Rico, a wholly owned Puerto Rico-chartered commercial bank subsidiary of First BanCorp, entered into a contract with Bairoa River Park, Inc., an unrelated party, for the purchase by FirstBank of an office building and land (the “Agreement”). Pursuant to the Agreement, FirstBank acquired the building and land on August 25, 2006 for a purchase price of $23,000,000. The property includes a lot with a 90,000 sq. ft. building in San Juan. The building will be remodeled and expanded to approximately 180,000 sq. ft. to accommodate FirstBank’s branch operations, data processing and administrative and headquarter offices. FirstBank expects to commence occupancy in the 4th quarter of 2007.

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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
     
Date: December 27, 2006
    
 
    
 
  By: /s/ Fernando Scherrer
Name: Fernando Scherrer
Title: Executive Vice President and
Chief Financial Officer

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