First BanCorp. (the "Corporation") (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors approved the following capital actions:

• A new stock repurchase program of up to $350 million of the Corporation’s outstanding common stock that we expect to be executed, at management’s discretion, throughout 2027, subject to market conditions; this approval is in addition to the approximately $38.3 million remaining under the stock repurchase program announced on October 22, 2025.

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