Tuesday, February 10, 2009

First BanCorp Clarifies Mistaken Identity with FirstBank Financial Services of Georgia

(BUSINESS WIRE)--First BanCorp (the “Corporation”) (NYSE:FBP) announced today that it has no relation, business, commercial or otherwise with FirstBank Financial Services of Georgia.

On Friday, February 6, 2009, FirstBank Financial Services, McDonough, GA was closed by the Georgia Department of Banking and Finance. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

Luis M. Beauchamp, Chairman and CEO of First BanCorp stated, “We want to reassure our investors and our customers that First BanCorp and its subsidiary banks FirstBank and FirstBank Florida have no relation or connection whatsoever with FirstBank Financial Services with operations in Georgia.”

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