FIRST BANCORP /PR/ — Regulatory Filings 2012

Feb 24, 2012

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 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): February 17, 2012

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First BanCorp. ______ (Exact name of registrant as specified in its charter)

Puerto Rico	001-14793	66-0561882
___ (State or other jurisdiction	_______ (Commission	__ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
1519 Ponce de Leon Ave., PO Box 9146, San Juan, Puerto Rico		00908-0146
_________ (Address of principal executive offices)		_____ (Zip Code)

Registrant’s telephone number, including area code: 787-729-8041

Not Applicable __________ Former name or former address, if changed since last report

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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:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 1.01 Entry into a Material Definitive Agreement.

First BanCorp (the "Corporation") entered into a Securities Purchase Agreement on February 17, 2012 (the "Agreement") with Roberto R. Herencia, Chairman of the Corporation’s Board of Directors, under which it agreed, subject to formal Board approval, to sell 165,000 shares of the Corporation’s common stock, $0.10 par value per share (the "Common Stock"). Pursuant to the terms of the Agreement the shares of Common Stock were issued on February 23, 2012 at a purchase price equal to $3.79 per share, the closing price of the Common Stock on February 16, 2012, in a private placement under Section 4(2) of the Securities Act of 1933, as amended.

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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.

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/s/ Lawrence Odell
Name: Lawrence Odell
Title: EVP and General Counsel

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