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( Mark one ) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K [ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( D ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31 , 2020 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( D ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER 001-14793 FIRST BANCORP . ( EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER ) Puerto Rico ( State or other jurisdiction of incorporation or organization ) 1519 Ponce de León Avenue , Stop 23 Santurce , Puerto Rico ( Address of principal executive office ) Registrant's telephone number , including area code : ( 787 ) 729-8200 66-0561882 ( I.R.S. Employer Identification No. ) 00908 ( Zip Code ) Title of each class Common Stock ( $ 0.10 par value ) Securities registered pursuant to Section 12 ( b ) of the Act : Trading Symbol ( s ) FBP Name of each exchange on which registered New York Stock Exchange Securities registered pursuant to Section 12 ( g ) of the Act : 7.125 % Noncumulative Perpetual Monthly Income Preferred Stock , Series A ( CUSIP : 318672201 ) ; 8.35 % Noncumulative Perpetual Monthly Income Preferred Stock , Series B ( CUSIP : 318672300 ) ; 7.40 % Noncumulative Perpetual Monthly Income Preferred Stock , Series C ( CUSIP : 318672409 ) ; 7.25 % Noncumulative Perpetual Monthly Income Preferred Stock , Series D ( CUSIP : 318672508 ) ; and 7.00 % Noncumulative Perpetual Monthly Income Preferred Stock , Series E ( CUSIP : 318672607 ) Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 ( d ) of the Act . Yes No Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( §232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes No Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or an emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer , ” “ smaller reporting company , " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . Large accelerated filer Non - accelerated filer Accelerated filer Smaller reporting company Emerging growth company ☐ If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes- Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) . Yes No The aggregate market value of the voting common equity held by non - affiliates of the registrant as of June 30 , 2020 ( the last trading day of the registrant's most recently completed second fiscal quarter ) was $ 1,173,527,344 based on the closing price of $ 5.59 per share of the registrant's common stock on the New York Stock Exchange on June 30 , 2020. The registrant had no nonvoting common equity outstanding as of June 30 , 2020. For the purposes of the foregoing calculation only , the registrant has defined affiliates to include ( a ) the executive officers named in Part III of this Annual Report on Form 10 - K ; ( b ) all directors of the registrant ; and ( c ) each shareholder , including the registrant's employee benefit plans but excluding shareholders that file on Schedule 13G , known to the registrant to be the beneficial owner of 5 % or more of the outstanding shares of common stock of the registrant as of June 30 , 2020. The registrant's response to this item is not intended to be an admission that any person is an affiliate of the registrant for any purposes other than this response . Indicate the number of shares outstanding of each of the registrant's classes of common stock , as of the latest practicable date : 218,228,695 shares as of February 12 , 2021 .