8-K

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): July 13, 2007

FIRST BANCORP.

(Exact Name of Registrant as Specified in its Charter)

001-14793
(Commission File Number)

Puerto Rico	66-0561882
(State or Other Jurisdiction of Incorporation)	(I.R.S. Employer 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 8.01 Other Events.

On July 13, 2007, First BanCorp. (the “Corporation”) issued a press release to announce that the Corporation’s annual meeting of stockholders’ will be held on October 31, 2007. The record date for the determination of stockholders entitled to vote at such meeting is September 14, 2007.

The Corporation also announced that, to be considered for inclusion in the proxy statement, stockholder proposals must be submitted to the Corporation by August 13, 2007. In accordance with Rule 14a-5(f) under the Securities Exchange Act of 1934, as amended, if a stockholder notifies the Corporation after August 13, 2007 of its intent to present a proposal at the Corporation’s 2007 Annual Meeting of Stockholders, the Corporation’s proxy holders will have the right to exercise discretionary voting authority with respect to the proposal, if presented at the meeting, without including information regarding the proposal in its proxy material. If a stockholder intends to nominate a person for election as a director at the 2007 Annual Meeting, the Corporation’s By-Laws require that written notice of the proposed nominee for director be provided to the Secretary of the Corporation by October 1, 2007. Written notice of any other stockholder proposal should be addressed to: First BanCorp, PO Box 9146, San Juan PR, and 00908-0146, Attention: Secretary of the Board. A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press Release dated July 13, 2007

SIGNATURE

     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: July 17, 2007	FIRST BANCORP
	By:	/s/ Lawrence Odell
	Name:	Lawrence Odell
	Title:	Executive Vice President and General Counsel

Exhibit Index

Exhibit No.	Description
99.1	Press Release dated July 13, 2007

EX-99.1

Alan Cohen
Senior Vice President, Marketing and Public Relations
Office (787) 729-8256
alan.cohen@firstbankpr.com

First BanCorp Announces Date of Its 2007 Annual Meeting of Stockholders and
Deadline for Submitting Stockholder Proposals

San Juan, Puerto Rico, July 13, 2007 — First BanCorp (NYSE: FBP) (the “Corporation”) today announced that the Board of Directors of the Corporation currently plans to hold the Corporation’s 2007 Annual Meeting of Stockholders (the “2007 Annual Meeting”) at 2:00 p.m., local time, on Wednesday, October 31, 2007, at the principal office of the Corporation located at 1519 Ponce De Leon Ave., Stop 23, San Juan, Puerto Rico 00909. The Board of Directors has set the record date for the determination of stockholders entitled to vote at the 2007 Annual Meeting at the close of business on September 14, 2007. Proxy materials and the Corporation’s 2006 Annual Report on Form 10-K will be mailed to stockholders in advance of the 2007 Annual Meeting.

The Corporation hereby notifies its stockholders that August 13, 2007 will be the deadline for submitting stockholder proposals for inclusion in the Corporation’s proxy statement for the 2007 Annual Meeting. Any stockholder proposal to be included in the Corporation’s proxy statement must comply with Rule 14a-8 under the Securities Exchange Act of 1934, as amended. If a stockholder notifies the Corporation after August 13, 2007 of an intent to present a proposal at the Corporation’s 2007 Annual Meeting of Stockholders, the Corporation’s proxy holders will have the right to exercise discretionary voting authority with respect to the proposal, if presented at the meeting, without including information regarding the proposal in its proxy material.

If a stockholder intends to nominate a person for election as a director at the 2007 Annual Meeting, the Corporation’s By-Laws require that written notice of the proposed nominee for director be provided to the Secretary of the Corporation by October 1, 2007.

Written notice of any other stockholder proposal should be addressed to: First BanCorp, PO Box 9146, San Juan, PR 00908-0146, Attention: Secretary of the Board. Such stockholder proposals must be in compliance with applicable laws and regulations in order to be considered for inclusion in the proxy statement for, or presentation at, the 2007 Annual Meeting.

About First BanCorp

First BanCorp is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the Virgin Islands and Florida; of FirstBank Insurance Agency; and of Ponce General Corporation. First BanCorp, FirstBank Puerto Rico and FirstBank Florida, formerly Unibank, the thrift subsidiary of Ponce General, all operate within U.S. banking laws and regulations. The Corporation operates a total of 153 financial services facilities throughout Puerto Rico, the U.S. and British Virgin Islands, and Florida. Among the subsidiaries of FirstBank Puerto Rico are Money Express, a finance company; First Leasing and Car Rental, a car and truck rental leasing company; and FirstMortgage, a mortgage origination company. In the U.S. Virgin Islands, FirstBank operates First Insurance VI, an insurance agency; First Trade, Inc., a foreign corporation management company; and First Express, a small loan company. First BanCorp’s common and preferred shares trade on the New York Stock Exchange under the symbols FBP, FBPPrA, FBPPrB, FBPPrC, FBPPrD and FBPPrE.

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