The regulatory capital positions of the Corporation and FirstBank as of September 30, 2021 and December 31, 2020, which reflects the delay in the effect of CECL on regulatory capital, were as follows:

Regulatory Requirements

Actual

For Capital Adequacy Purposes

To be Well-Capitalized- Thresholds

Amount

Ratio

Amount

Ratio

Amount

Ratio

(Dollars in thousands)

As of September 30, 2021

Total Capital (to

Risk-Weighted Assets)

First BanCorp.

$

2,457,609

20.67

%

$

951,067

8.00

%

N/A

FirstBank

$

2,400,550

20.20

%

$

950,788

8.00

%

$

1,188,485

10.00

%

CET1 Capital

(to Risk-Weighted Assets)

First BanCorp.

$

2,094,540

17.62

%

$

534,975

4.50

%

N/A

FirstBank

$

2,093,878

17.62

%

$

534,818

4.50

%

$

772,516

6.50

%

Tier I Capital (to

Risk-Weighted Assets)

First BanCorp.

$

2,130,644

17.92

%

$

713,300

6.00

%

N/A

FirstBank

$

2,251,878

18.95

%

$

713,091

6.00

%

$

950,788

8.00

%

Leverage ratio

First BanCorp.

$

2,130,644

10.17

%

$

838,339

4.00

%

N/A

FirstBank

$

2,251,878

10.75

%

$

838,041

4.00

%

$

1,047,552

5.00

%

As of December 31, 2020

Total Capital (to

Risk-Weighted Assets)

First BanCorp.

$

2,416,682

20.37

%

$

948,890

8.00

%

N/A

FirstBank

$

2,360,493

19.91

%

$

948,624

8.00

%

$

1,185,780

10.00

%

CET1 Capital

(to Risk-Weighted Assets)

First BanCorp.

$

2,053,045

17.31

%

$

533,751

4.50

%

N/A

FirstBank

$

1,903,251

16.05

%

$

533,601

4.50

%

$

770,757

6.50

%

Tier I Capital (to

Risk-Weighted Assets)

First BanCorp.

$

2,089,149

17.61

%

$

711,667

6.00

%

N/A

FirstBank

$

2,211,251

18.65

%

$

711,468

6.00

%

$

948,624

8.00

%

Leverage ratio

First BanCorp.

$

2,089,149

11.26

%

$

742,352

4.00

%

N/A

FirstBank

$

2,211,251

11.92

%

$

741,841

4.00

%

$

927,301

5.00

%