First BanCorp announces new share repurchase program

First BanCorp., the bank holding company for FirstBank Puerto Rico, announced that its Board of Directors approved a new repurchase program of up to $250M that could include repurchases of common stock or junior subordinated debentures, which we expect to be executed at management’s discretion through the end of the Q4 of 2025. This approval is in addition to the $50M remaining under the stock repurchase program announced on July 24, 2023.