<SEC-DOCUMENT>0001140361-25-023838.txt : 20250626
<SEC-HEADER>0001140361-25-023838.hdr.sgml : 20250626
<ACCEPTANCE-DATETIME>20250626172547
ACCESSION NUMBER:		0001140361-25-023838
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20241231
FILED AS OF DATE:		20250626
DATE AS OF CHANGE:		20250626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST BANCORP /PR/
		CENTRAL INDEX KEY:			0001057706
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		EIN:				660561882
		STATE OF INCORPORATION:			PR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14793
		FILM NUMBER:		251081435

	BUSINESS ADDRESS:	
		STREET 1:		1519 PONCE DE LEON AVE
		STREET 2:		SANTURCE
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00908-0146
		BUSINESS PHONE:		7877298200

	MAIL ADDRESS:	
		STREET 1:		1519 PONCE DE LEON AVE
		STREET 2:		PO BOX 9146
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00908-0146
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>ef20051228_11k.htm
<DESCRIPTION>11-K
<TEXT>
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      <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>
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      <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 11-K</div>
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      <div style="text-indent: 36pt;">(Mark One)</div>
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                <div style="text-align: left;">&#9746;</div>
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              <td style="text-align: left; vertical-align: top; width: auto;">
                <div>ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
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      <div><br>
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      <div style="text-align: center;">For the fiscal year ended December 31, 2024</div>
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      <div style="text-align: center;">Or</div>
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                <div style="text-align: left;">&#9744;</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div>TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
              </td>
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      <div style="text-align: center;">For the transition period from ______ to ______</div>
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      <div style="text-align: center;">Commission file number 001-14793</div>
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            <td style="width: 18pt; vertical-align: top;">A.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Full title of the Plan and address of the Plan, if different from that of the issuer named below:</div>
            </td>
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    </div>
    <div>
      <div><br>
      </div>
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    <div>
      <div style="text-align: center; margin-left: 54pt; font-weight: bold;">THE FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF THE U.S. VIRGIN ISLANDS AND THE UNITED STATES OF AMERICA</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zca0c4b9b52d64251a736070bc6732f2a" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            </td>
            <td style="width: 18pt; vertical-align: top;">B.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 24pt; font-weight: bold;">FIRST BANCORP.</div>
      <div><br>
      </div>
      <div style="text-align: center;">1519 Ponce de Le&#243;n Avenue, Stop 23</div>
      <div style="text-align: center;">San Juan, Puerto Rico 00908</div>
    </div>
    <br>
    <div>
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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              <td style="width: 100%; vertical-align: top;">
                <div style="text-align: justify; font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin Islands and the United States of America</div>
              </td>
            </tr>
            <tr>
              <td style="width: 100%; vertical-align: top;">
                <div style="font-weight: bold;">Financial Statements and Supplemental Schedules</div>
              </td>
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              <td style="width: 100%; vertical-align: top;">
                <div style="font-weight: bold;">December 31, 2024 and 2023</div>
              </td>
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              <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"><a name="Index"><!--Anchor--></a>
                <div style="font-weight: bold;">Index</div>
              </td>
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              <div style="text-align: right; font-weight: bold;">Page</div>
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          <td style="width: 91.32%; vertical-align: top;" rowspan="1">&#160;</td>
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            <div>
              <div style="text-indent: -7.2pt; margin-left: 7.2pt;"><a href="#REPORTOFINDEPENDENTREGIST">Report of Independent Registered Public Accounting Firm</a></div>
            </div>
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              <div style="text-align: right;">1</div>
            </div>
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          <td style="width: 91.32%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 8.68%; vertical-align: top;" rowspan="1">&#160;</td>
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            <div>
              <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-weight: bold;">Financial Statements:</div>
            </div>
          </td>
          <td style="width: 8.68%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <td style="width: 91.32%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 8.68%; vertical-align: top;" rowspan="1">&#160;</td>
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          <td style="width: 91.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-indent: -7.2pt; margin-left: 16.2pt;"><a href="#StatementsofNetAssetsAvai">Statements of Net Assets Available for Benefits as of December 31, 2024 and 2023</a></div>
            </div>
          </td>
          <td style="width: 8.68%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-align: right;">3</div>
            </div>
          </td>
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          <td style="width: 91.32%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 8.68%; vertical-align: top;" rowspan="1">&#160;</td>
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          <td style="width: 91.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-indent: -7.2pt; margin-left: 16.2pt;"><a href="#StatementofChangesinNetAs">Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2024</a></div>
            </div>
          </td>
          <td style="width: 8.68%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-align: right;">4</div>
            </div>
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          <td style="width: 91.32%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 8.68%; vertical-align: top;" rowspan="1">&#160;</td>
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          <td style="width: 91.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-indent: -7.2pt; margin-left: 16.2pt;"><a href="#NotestotheFinancialStatem">Notes to the Financial Statements</a></div>
            </div>
          </td>
          <td style="width: 8.68%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-align: right;">5</div>
            </div>
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          <td style="width: 91.32%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 8.68%; vertical-align: top;" rowspan="1">&#160;</td>
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            <div>
              <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-weight: bold;">Supplemental Schedule:<sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
            </div>
          </td>
          <td style="width: 8.68%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <td style="width: 91.32%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 8.68%; vertical-align: top;" rowspan="1">&#160;</td>
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            <div>
              <div style="text-indent: -7.2pt; margin-left: 16.2pt;"><a href="#ScheduleHLine4iScheduleof">Schedule H, Line 4i &#8211; Schedule of Assets (Held at End of Year) &#8211; December 31, 2024</a></div>
            </div>
          </td>
          <td style="width: 8.68%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-align: right;">12</div>
            </div>
          </td>
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          <td style="width: 91.32%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 8.68%; vertical-align: top;" rowspan="1">&#160;</td>
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            <div>
              <div style="text-indent: -7.2pt; margin-left: 7.2pt;"><a href="#Signatures">Signatures</a></div>
            </div>
          </td>
          <td style="width: 8.68%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-align: right;">13</div>
            </div>
          </td>
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          <td style="width: 91.32%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 8.68%; vertical-align: top;" rowspan="1">&#160;</td>
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          <td style="width: 91.32%; vertical-align: top; background-color: rgb(204, 238, 255);" rowspan="1">Exhibits:</td>
          <td style="width: 8.68%; vertical-align: top; background-color: rgb(204, 238, 255);" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 91.32%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 8.68%; vertical-align: top;" rowspan="1">&#160;</td>
        </tr>
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          <td style="width: 91.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>
              <div style="text-indent: -7.2pt; margin-left: 7.2pt;"><a href="ef20051228_ex23-1.htm">23.1 Consent of Crowe LLP</a></div>
            </div>
          </td>
          <td style="width: 8.68%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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      <hr noshade="noshade" align="left" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 25%; color: #000000;"></div>
    <div>
      <div>
        <div><sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> Other schedules required by Section 2520.103-10 of the Department of Labor&#8217;s Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not
          applicable.</div>
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    </div>
    <br>
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        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
      </div>
    </div>
    <!--PROfilePageNumberReset%Num%1%%%-->
    <div>
      <div style="text-align: center; font-weight: bold;"><a name="REPORTOFINDEPENDENTREGIST"><!--Anchor--></a><!--Anchor-->REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
      <div style="text-align: center; font-weight: bold;"> <br>
      </div>
    </div>
    <div>
      <div style="text-align: justify;">Plan Participants and Plan Administrator of The FirstBank</div>
      <div style="text-align: justify;">401(k) Retirement Plan for Residents of the U.S. Virgin Islands and the United States of America</div>
      <div style="text-align: justify;">San Juan, Puerto Rico</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-weight: bold;">Opinion on the Financial Statements</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We have audited the accompanying statements of net assets available for benefits of The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin Islands and the United States of America (the "Plan") as of
        December 31, 2024 and 2023, the related statement of changes in net assets available for benefits for the year ended December 31, 2024, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial
        statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2024 and 2023, and the changes in net assets available for benefits for the year ended December 31, 2024, in conformity with
        accounting principles generally accepted in the United States of America.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-weight: bold;">Basis for Opinion</div>
      <div><br>
      </div>
      <div style="text-align: justify;">These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm
        registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the
        Securities and Exchange Commission and the PCAOB.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of
        material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of
        internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan&#8217;s internal control over financial reporting.&#160; Accordingly, we express no such opinion.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such
        procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as
        evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-weight: bold;">Supplemental Information</div>
      <div><br>
      </div>
      <div style="text-align: justify;">The supplemental Schedule H, Line 4(i) &#8211; Schedule of Assets (Held at End of Year) as of December 31, 2024 has been subjected to audit procedures performed in conjunction with the audit of The FirstBank 401(k)
        Retirement Plan for Residents of the U.S. Virgin Islands and the United States of America financial statements.&#160; The supplemental schedule is the responsibility of the Plan&#8217;s management.&#160; Our audit procedures included determining whether the
        information presented in the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in
        the supplemental schedule.&#160; In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor&#8217;s Rules and Regulations for
        Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.&#160; In our opinion, the supplemental schedule is fairly stated in all material respects in relation to the financial statements as a whole.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div>
          <div>/s/ Crowe LLP</div>
          <div>License Number LLP-224</div>
          <div>Expires December 1, 2027</div>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">We have served as the Plan's auditor since 2018.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Chicago, Illinois</div>
      <div style="text-align: justify;">June 26, 2025</div>
      <div><br>
      </div>
    </div>
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      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">1</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
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        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
      </div>
    </div>
    <div>
      <div style="text-align: justify;">
        <div>
          <div>
            <div>
              <div>Stamp No. DLLP224-51 of the Puerto Rico</div>
            </div>
          </div>
        </div>
      </div>
      <div style="text-align: justify;">Society of Certified Public Accountants</div>
      <div style="text-align: justify;">was affixed to the record copy of this report.</div>
      <div style="text-align: justify;"> <br>
      </div>
    </div>
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      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">2</font></div>
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        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
      </div>
    </div>
    <div>
      <div style="text-align: justify; font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin</div>
      <table cellspacing="0" cellpadding="0" id="zf57ddda0b446405bbdb1af10d04a559b" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
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          <tr>
            <td style="width: 100%; vertical-align: top;"><!--Anchor-->
              <div style="text-align: justify; font-weight: bold;"><a name="StatementsofNetAssetsAvai"><!--Anchor--></a>Statements of Net Assets Available for Benefits</div>
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          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; font-weight: bold;">December 31, 2024 and 2023</div>
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          </tr>

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    <div> <br>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Investments, at fair value (Note 3)</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">21,855,315</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Receivables:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Contributions receivable from participants</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">43,460</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">42,849</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Contributions receivable from employer</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">219,099</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">211,142</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Notes receivable from participants</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">765,464</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">722,805</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt; color: rgb(0, 0, 0);">Total receivables</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,028,023</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">976,796</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Cash and cash equivalents</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">88,575</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">4,366</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 4px;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt; color: rgb(0, 0, 0);">Net assets available for benefits</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">26,127,581</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">22,836,477</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>

    </table>
    <div>
      <div><br>
        <div style="text-align: center;">The accompanying notes are an integral part of these financial statements.<br>
        </div>
        <div style="text-align: center;"> <br>
        </div>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">3</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" class="BRPFPageHeader">
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
      </div>
    </div>
    <div>
      <div style="text-align: justify; font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin</div>
      <table cellspacing="0" cellpadding="0" id="z4df10110e2ec469c890f14c623728a82" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: justify; font-weight: bold;">Islands and the United States of America</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top;"><a name="StatementofChangesinNetAs"><!--Anchor--></a>
              <div style="text-align: justify; font-weight: bold;"><!--Anchor-->Statement of Changes in Net Assets Available for Benefits</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; font-weight: bold;">Year Ended December 31, 2024</div>
            </td>
          </tr>

      </table>
    </div>
    <div> <br>
    </div>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Year ended</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2024</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Additions to assets attributed to:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Investment income:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Net appreciation in fair value in investments</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">2,406,269</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; padding-bottom: 2px;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Dividends and interest income</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">659,404</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt; color: rgb(0, 0, 0);">Total investment income</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">3,065,673</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Interest income on notes receivable from participants</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">62,884</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Contributions:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Participants</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,405,961</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Employer</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">449,210</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Rollovers from other qualified plans</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">127,416</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; padding-bottom: 2px;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt; color: rgb(0, 0, 0);">Total Contributions</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,982,587</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt; color: rgb(0, 0, 0);">Total additions</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">5,111,144</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Deductions from assets attributed to:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Benefits and withdrawals paid to participants, including rollover distributions</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,810,739</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Administrative expenses</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">9,301</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; padding-bottom: 2px;">
            <div style="text-indent: -7.2pt; margin-left: 25.2pt; color: rgb(0, 0, 0);">Total deductions</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,820,040</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Net increase in assets available for benefits</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">3,291,104</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Net assets available for benefits:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">Beginning of the year</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">22,836,477</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 88%; padding-bottom: 4px;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0);">End of year</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">26,127,581</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>

    </table>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: center;">The accompanying notes are an integral part of these financial statements.</div>
      <div style="text-align: center;"> <br>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">4</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" class="BRPFPageHeader">
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
      </div>
    </div>
    <div>
      <div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Islands and the United States of America</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;"><!--Anchor--><a name="NotestotheFinancialStatem"><!--Anchor--></a>
                  <div style="font-weight: bold;">Notes to the Financial Statements</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="font-weight: bold;">December 31, 2024 and 2023</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z76533c7ab7c14ae09031692ef9930927" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 18pt;">
                <div style="text-align: justify; font-weight: bold;">1.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify; font-weight: bold;">Description of the Plan</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt; color: rgb(0, 0, 0); font-weight: bold;">Reporting Entity</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">The accompanying financial statements include the assets of The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin Islands and the United States of America (the &#8220;Plan&#8221;) sponsored by
        FirstBank Puerto Rico (the &#8220;Bank&#8221;) for its U.S. Virgin Islands and United States of America employees. The following description of the Plan provides only general information. Participants should refer to the Plan agreement for a complete
        description of the Plan&#8217;s provisions.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">General</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">The Plan is a defined contribution plan, which became effective on May 15, 1977.&#160; Effective September 1, 1991, the Plan was further amended to become a savings plan under the provisions of the U.S.
        Internal Revenue Code.&#160; The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Eligibility</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">All of the Bank&#8217;s U.S. Virgin Islands and United States of America full-time employees are eligible to participate in the Plan after completion of three months of service for purposes of making
        elective deferral contributions and one year of service for purposes of sharing in the Bank&#8217;s matching, qualified matching and qualified non-elective contributions. The Bank&#8217;s matching contribution is comprised of: 401(k) Matching Contributions and
        401(k) Additional Matching Contributions, as defined in the Contributions section below. To be eligible for these matching contributions, the participant needs to be employed at any time during the Plan Year and be employed as of the last day of
        the Plan Year, respectively. Furthermore, regular part time employees are also eligible if the criteria of 1,000 hours of service is met.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Employees are automatically enrolled in the Plan after completion of three months of service unless the employee makes an election to waive participation in the Plan by completing an Election Form
        at least 30 days before the enrollment date. If the employee does not complete the election form within the mentioned period, the employee will be automatically enrolled in the Plan with an initial pre-tax contribution equivalent to 2% of his/her
        period eligible compensation and will increase by 1% per year up to a maximum of 5% of the compensation as of the first day of each subsequent Plan Year. In addition, such contributions will be invested in a predetermined fund until subsequent
        election is made by the participant.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Contributions</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Participants are permitted to contribute up to an amount not to exceed the maximum deferral amount specified by the Internal Revenue Service (&#8220;IRS&#8221;) of $23,000 for the tax year ended December 31,
        2024. Nonetheless, the participant may make voluntary contributions to the Plan on an after-tax basis, not to exceed the maximum annual limit allowed by law. On November 1, 2024, the IRS announced an increase in the contribution limit to $23,500
        effective in 2025. The Bank contributes a matching contribution of fifty cents for every dollar up to the first 6% of the participant&#8217;s eligible compensation that a participant contributes to the Plan on a pre-tax basis. The Bank&#8217;s matching
        contribution of fifty cents for every dollar of the employee&#8217;s contribution is comprised of: (i) twenty-five cents for every dollar of the employee&#8217;s contribution up to 6% of the employee&#8217;s eligible compensation to be paid to the Plan as of each
        bi-weekly payroll; and, (ii) an additional twenty-five cents for every dollar of the employee&#8217;s contribution up to 6% of the employee&#8217;s eligible compensation to be deposited as a lump sum subsequent to the Plan Year. These are called 401(k)
        Matching Contributions and 401(k) Additional Matching Contributions, respectively.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Investment of participants&#8217; and employer&#8217;s contributions are directed by participants into various investment options, which include several mutual funds and the common stock of First BanCorp., the
        Bank&#8217;s parent company. The Plan allows for rollover contributions from other qualified plans.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Participants with an age of 50 or older are permitted to make an additional $7,500 pre-tax contribution for the tax year ended December 31, 2024 after contributing the Plan limit of their pre-tax
        annual compensation.</div>
      <div><br>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">5</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" class="BRPFPageHeader">
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index"> <br>
          </a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;">
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Islands and the United States of America</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Notes to the Financial Statements</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="font-weight: bold;">December 31, 2024 and 2023</div>
                </td>
              </tr>

          </table>
          <a href="#Index"> </a></div>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Participant Accounts</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Each participant&#8217;s account is credited with the participant&#8217;s contributions and allocations of the Bank&#8217;s contributions and Plan earnings. Allocations are based on the participant&#8217;s contributions
        in the case of matching contributions, or account balances in each investment option in the case of plan earnings. The benefit to which a participant is entitled is the benefit that can be provided from the participant&#8217;s vested account. Certain
        administrative expenses directly associated with the Plan are paid using the Plan assets and then the expenses are allocated among all participants accounts.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Vesting</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Participants are immediately vested in their contributions and the 401(k) Matching Contributions plus actual earnings thereon. The 401(k) Additional Matching Contribution is subject to the
        completion of at least three years of service for vesting.</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt; color: rgb(0, 0, 0); font-weight: bold;">Notes receivable from Participants</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">The Plan allows participants and their beneficiaries to borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of 50% of the participant&#8217;s vested account balance or
        $50,000. A maximum of one loan outstanding is permitted at any time. Interest rates on loans are generally calculated based on the prime rate plus 2% as of the date the loan is granted. As of December 31, 2024 and 2023, the loans had interest rates
        ranging from 5.25% to 10.50%. Principal and interest are paid to the Plan ratably through biweekly payroll deductions. The loans have a term of repayment up to five years. The Plan Administrator may fix the term for repayment of a home loan for a
        period exceeding five years. A home loan is a loan used to acquire a dwelling unit which, within a reasonable time, the participant will use as a principal residence. Loan transactions are considered transfers between the investment funds and the
        Participants Loan account. These transactions are secured by the balance in the participant's account.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Payment of Benefits</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Plan participants are permitted to make withdrawals from the Plan, subject to provisions in the Plan agreement. On termination of service due to death, disability or retirement all distributions
        from the Plan will be made in a single lump-sum cash payment.&#160; If the value of the vested account is more than $1,000, the participant may elect to defer any benefit payable under the Plan until a specified future date. However, if the value of the
        account balance does not exceed $1,000, the distribution will be made to the participant, regardless of whether the participant consents to receive it. The Plan allows for participants to receive hardship distributions.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">In the case of participant termination because of death, all amounts credited to such participant&#8217;s account shall become fully vested and the entire amount is paid to the person or persons legally
        entitled&#160; thereto. In addition, a participant will fully vest in his or her account balance (including 401(k) Additional Matching Contributions) upon permanent and total disability.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Plan Amendments</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">In December&#160; 2024, the Board of Directors authorized several amendments to the Plan effective during 2025 that are intended to increase the contribution of participants, which include providing for
        a 3 month eligibility period for Matching Contributions instead of a one year eligibility period, (ii) increasing to 3% of compensation per payroll period the percentage amount of the automatic tax-deferral for both existing and new plan
        participants, increasing from 5% to 6% the maximum percentage amount of automatic tax-deferral percentage, and permitting Roth after-tax elective deferrals and In-Plan Roth conversions. In addition, the account balance amount that may be
        distributed without participant consent increased to $7,000.</div>
      <div><br>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">6</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" class="BRPFPageHeader">
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index"> <br>
          </a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;">
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Islands and the United States of America</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Notes to the Financial Statements</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="font-weight: bold;">December 31, 2024 and 2023</div>
                </td>
              </tr>

          </table>
          <a href="#Index"> </a></div>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Plan Expenses and Administration</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Bank and participant contributions were held by Charles Schwab Trust Bank (&#8220;Charles Schwab&#8221;) as custodian and managed by Milliman USA, Inc. as plan recordkeeper, both appointed by the Board of
        Directors of the Bank. The custodian invests cash received, interest and dividend income and makes distributions to participants. The Bank&#8217;s parent company common stock in the Plan is held by State Street Bank and Trust Company (&#8220;State Street&#8221;),
        which provides Charles Schwab with custody, fund accounting, fund administration and transfer agency services.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Generally, recordkeeper&#8217;s fees are paid by the Bank unless there are forfeitures available to offset such expenses. For the year ended December 31, 2024, the Bank paid on behalf of the Plan $75,524
        in administrative fees and other services rendered by the plan recordkeeper. Administrative expenses incurred by the Plan, primarily custodian&#8217;s fees and recordkeeper&#8217;s fees, are reflected in the Plan&#8217;s financial statements.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Forfeitures</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Forfeited balances of terminated participants&#8217; non-vested accounts are used to reduce future Bank contributions or used to cover administrative expenses of the Plan. Refer to Note 7 for further
        detail.</div>
      <div><br>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">7</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" class="BRPFPageHeader">
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index"> <br>
          </a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;">
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Islands and the United States of America</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Notes to the Financial Statements</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="font-weight: bold;">December 31, 2024 and 2023</div>
                </td>
              </tr>

          </table>
          <a href="#Index"> </a></div>
      </div>
    </div>
    <div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z49923894d0224e5b87c6d2d87c593a5d" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 18pt;">
                <div style="text-align: justify; font-weight: bold;">2.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify; font-weight: bold;">Summary of Significant Accounting Policies</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt; color: rgb(0, 0, 0); font-weight: bold;">Basis of Accounting</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">The accompanying financial statements have been prepared in accordance with accounting policies generally accepted in the United States of America. A description of the significant accounting
        policies of the Plan follows.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Use of Estimates</div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect
        the reported amounts of net assets available for benefits, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.</div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);"> </font><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; color: rgb(0, 0, 0); font-weight: bold;">Contributions</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">Employee contributions are recorded in the period in which the Bank makes payroll deductions from the participants' compensation. The Bank&#8217;s Matching Contribution are recorded on each bi-weekly
        payroll. The Additional Matching Contribution, any true up matching contribution, and any other employer contribution which are deposited subsequent to the Plan Year, are recorded as part of the employer contribution receivable in the statements of
        net assets available for benefits.</div>
      <div style="text-align: justify; margin-left: 18pt;"> <br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Rollover Distributions</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Terminated employees or retirees may elect to transfer their savings to other plans qualified by the U.S. Internal Revenue Code.</div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt; color: rgb(0, 0, 0); font-weight: bold;">Investments Valuation and Income Recognition</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">The Plan&#8217;s investments in mutual funds, money market funds, the Schwab Personal Choice Retirement Account (&#8220;PCRA&#8221;) and common stock of First BanCorp. are stated at fair value. The PCRA is a
        self-directed brokerage account, which offers participants additional investment choices beyond the traditional Plan&#8217;s investment options. See Note 3 for further information regarding valuation of the Plan&#8217;s investments. The Plan presents in the
        statement of changes in net assets available for benefits the net appreciation in the fair value of its investments which consists of the realized gains or losses on investments bought and sold as well as the unrealized appreciation on those
        investments held during the year.</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis and dividends are recorded on the ex-dividend date. Management fees and
        operating expenses charged to the Plan related to investments in mutual funds are deducted from income earned on a daily basis and are not separately reflected. Consequently, such management fees and operating expenses are reflected as net
        appreciation in the aggregate fair value of such investments.</div>
    </div>
    <div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; font-weight: bold;">Notes receivable from participants</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Notes receivable from participants represent participant loans that are measured at their unpaid principal balance plus any accrued but unpaid interest. The outstanding loan amount is reduced with
        payroll retentions made by the employer. Loans bear interest at the rate determined by the Plan administrator at the time the loan is granted. Any terminated employee is required to repay their remaining balance or offset against their account
        balance upon distribution.</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt; color: rgb(0, 0, 0); font-weight: bold;">Payment of Benefits</div>
    </div>
    <div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Benefit payments to participants are recorded upon distribution.</div>
      <div style="text-align: justify; margin-left: 18pt;"> <br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;"> </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">8</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" class="BRPFPageHeader">
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index"> <br>
          </a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;">
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Islands and the United States of America</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Notes to the Financial Statements</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="font-weight: bold;">December 31, 2024 and 2023</div>
                </td>
              </tr>

          </table>
          <a href="#Index"> </a></div>
      </div>
    </div>
    <div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z81da67df88bd4dd7838efb36ce23d677" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 18pt;">
                <div style="text-align: justify; text-indent: -3.6pt; margin-left: 3.6pt; font-weight: bold;">3.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify; text-indent: -3.6pt; margin-left: 3.6pt; font-weight: bold;">Fair Value Measurements</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">ASC Topic 820, &#8220;Fair Value Measurement,&#8221; defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most
        advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This guidance also establishes a fair value hierarchy for classifying assets and liabilities, which is based on whether
        the inputs to the valuation techniques used to measure fair value are observable or unobservable. One of three levels of inputs may be used to measure fair value:</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="ze4e5e7f8faf8467d8634007fba4d5bc0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 27pt;">&#160;</td>
            <td style="width: 52.2pt; vertical-align: top; font-weight: bold;">Level 1</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Valuations of Level 1 assets and liabilities are obtained from readily-available pricing sources for market transactions involving identical assets or liabilities in active markets.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z0c05d49b79eb4ab2ba549083b45a7f88" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="width: 27pt;">&#160;</td>
              <td style="text-align: right; vertical-align: top; width: 52.2pt;">
                <div style="text-align: justify;"><font style="font-weight: bold;">Level 2<br>
                  </font></div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;">Valuations of Level 2 assets and liabilities are based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be
                  corroborated by observable market data for substantially the full term of the assets or liabilities.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zccb6ca14190c4a45b8eb289dd60f2d0e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 27pt;"><br>
            </td>
            <td style="width: 52.2pt; vertical-align: top; font-weight: bold;">Level 3</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Valuations of Level 3 assets and liabilities are based on unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include
                financial instruments whose value is determined by using pricing models for which the determination of fair value requires significant management judgment as to the estimation.&#160; &#160; </div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">As of December 31, 2024 and 2023, the Plan&#8217;s investments measured at fair value consisted of the following instruments and classifications within the fair value hierarchy:</div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zc55cfa21345c4c83b29049da1a461632" class="cfttable">

        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="14">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">As of December 31, 2024</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="14">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Fair Value Measurements Using</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Level 1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Level 2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Level 3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets at Fair Value</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Investments in mutual funds and money market funds</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">23,047,504</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">23,047,504</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Investment in First BanCorp.</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,018,946</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,018,946</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">PCRA</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">869,626</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">74,907</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">944,533</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 4px;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0); font-weight: bold;">Total investments at fair value</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">24,936,076</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">74,907</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">25,010,983</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" id="z0afc4a5089794d05939eb8c39c8ba525" class="cfttable">

        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="14">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">As of December 31, 2023</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="14">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Fair Value Measurements Using</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Level 1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Level 2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Level 3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Assets at Fair Value</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Investments in mutual funds and money market funds</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">20,773,432</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">20,773,432</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Investment in First BanCorp.</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">936,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">936,800</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">PCRA</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">145,083</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">145,083</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 4px;">
            <div style="text-indent: -7.2pt; margin-left: 16.2pt; color: rgb(0, 0, 0); font-weight: bold;">Total investments at fair value</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">21,855,315</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">21,855,315</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>

    </table>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 28.8pt;">Following is a description of the Plan&#8217;s valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2024 and 2023.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 28.8pt;"><font style="font-weight: bold;">Mutual Funds and money market funds:</font> These open-ended funds are valued at the daily closing price as reported by the funds, which represents the net asset
        value of shares held by the Plan at the reporting date. The net asset value is a quoted market price available in an active market.</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">9</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" class="BRPFPageHeader">
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><br>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Islands and the United States of America</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Notes to the Financial Statements</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="font-weight: bold;">December 31, 2024 and 2023</div>
                </td>
              </tr>

          </table>
          <br>
          <a href="#Index"></a></div>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 28.8pt;"><font style="font-weight: bold;">Investment in First BanCorp.:</font> Investment in First BanCorp. consists of common stock of First BanCorp. <font style="color: rgb(0, 0, 0);">and </font>is
        valued based on the closing price per the stock exchange on which they are traded.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 28.8pt;"><font style="font-weight: bold;">Self-directed brokerage accounts:</font> Investments held in a PCRA include exchange-traded funds and other short-term assets, which are valued using quoted
        market prices at period end and, as such, are classified as Level 1. These investments also include corporate obligations and long-term time deposits, which are valued based on the present value of future cash flows discounted based on the current
        interest rate at the reporting date and, as such, are classified as Level 2.</div>
      <div><br>
      </div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z5652dff2df2440dd800323fea865f3f3" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 18pt;">
                <div style="text-align: justify; text-indent: -3.6pt; margin-left: 3.6pt; font-weight: bold;">4.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify; text-indent: -3.6pt; margin-left: 3.6pt; font-weight: bold;">Party-In-Interest Transactions</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">Parties-in-interest are defined under the provisions of ERISA as any fiduciary of the Plan, any party rendering service to the Plan, any employer (or any affiliate), any employee of such employer
        covered by the Plan, and certain others. Certain Plan investments consist of investments in a money market fund, a mutual fund and PCRA at Charles Schwab, or affiliates, which is the provider of custodial services as defined by the Plan since April
        1, 2005.</div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 18pt;">
        <div>
          <div>
            <div>
              <div>In addition, as of December 31, 2024 and 2023, the First BanCorp. Unitized Stock Fund held 54,811 and 56,948 shares, respectively, with a quoted
                market value of $1,018,946 and $936,800, respectively, of First BanCorp. common stock, the parent company of the Plan Sponsor. The First BanCorp. Unitized Stock Fund also has an investment in a money market fund managed by State Street.
                State Street provides Charles Schwab with, among other things, custody services for the First BanCorp. Unitized Stock Fund. For the year ended December 31, 2024, the Plan received dividend income of $36,695 related to the investment in
                First BanCorp. Unitized Stock Fund and recognized net gains of $163,363, of which $139,139 relates to the net appreciation in the fair value of such investment. Moreover,
                  in relation to the First Bancorp. Unitized Stock Fund, during the year ended December 31, 2024, the Plan completed purchases or acquisition through rollovers for a total acquisition price of $92,619 and completed sales and distributions
                  of shares which had a carrying value of $152,689 and sales proceeds of $176,913, resulting in a realized gain of $24,224.</div>
            </div>
          </div>
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">Plan assets include notes receivable from participants of $765,464 and $722,805 as of December 31, 2024 and 2023, respectively. For the year ended December 31, 2024, interest income related to
        notes receivable from participants amounted to $62,884. These transactions qualify as party in-interest transactions permitted under the provisions of ERISA.</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="za089791103854d35871a68c13cd160cc" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 18pt;">
                <div style="text-align: justify; text-indent: -3.6pt; margin-left: 3.6pt; font-weight: bold;">5.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify; text-indent: -3.6pt; margin-left: 3.6pt; font-weight: bold;">Tax Status</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">The Plan obtained its latest determination letter on July 7, 2017, in which the Internal Revenue Service determined and informed the Bank that the Plan is designed in accordance with the applicable
        sections of the U.S. Internal Revenue Code (IRC) and, therefore, exempt from income taxes. Therefore, no provision for income taxes has been included in the Plan&#8217;s financial statements.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">The Plan Administrator and the Plan&#8217;s tax counsel believe that the Plan is designed, and is currently being operated, in compliance with the applicable requirements of the IRC and, therefore,
        believe that the Plan is qualified and is tax exempt.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has
        taken an uncertain tax position that more likely than not would not be sustained upon examination by federal, state and/ or local taxing authorities. The plan administrator has analyzed the tax positions by the Plan, and has concluded that as of
        December 31, 2024 and 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing
        jurisdictions; however, there are currently no audits for any tax periods in progress. The plan administrator believes it is no longer subject to income tax examinations for years prior to 2021.</div>
      <div><br>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">10</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" class="BRPFPageHeader">
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index"> <br>
          </a></div>
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;">
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Islands and the United States of America</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top;">
                  <div style="font-weight: bold;">Notes to the Financial Statements</div>
                </td>
              </tr>
              <tr>
                <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="font-weight: bold;">December 31, 2024 and 2023</div>
                </td>
              </tr>

          </table>
          <a href="#Index"> </a></div>
      </div>
    </div>
    <div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="zc6c5f2531d4e45b4b4fcb721272bd7cc" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 18pt;">
                <div style="text-align: justify; text-indent: -3.6pt; margin-left: 3.6pt; font-weight: bold;">6.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify; text-indent: -3.6pt; margin-left: 3.6pt; font-weight: bold;">Plan Termination</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 18pt;">Although it has not expressed any intent to do so, the Bank has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA.&#160;
        In the event of Plan termination, participants will become 100 percent vested in their accounts and such termination shall not reduce the interest of any participating employee or their beneficiaries accrued under the Plan up to the date of such
        termination.</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zf5c49cce6c8c452fa5a25c1834aee89f" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top;"><font style="font-weight: bold;">7.</font></td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-weight: bold;">Forfeited Amounts</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">Forfeited nonvested accounts amounted to $20 as of December 31, 2024 ($2,264 as of December 31, 2023). Forfeited accounts, if any, are transferred by the Plan administrator to an unallocated
        account to be used to cover administrative expenses of the Plan or reduce the Bank&#8217;s future contributions. Forfeitures amounting to $5,445 were used to reduce the Bank&#8217;s contributions during 2024.</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z618a0ea20858413e9738e737d106330b" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="text-align: right; vertical-align: top; width: 18pt;">
                <div style="text-align: justify; text-indent: -3.6pt; margin-left: 3.6pt; font-weight: bold;">8.</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify; text-indent: -3.6pt; margin-left: 3.6pt; font-weight: bold;">Risks and Uncertainties</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">The Plan provides for investment options in various funds that invest in equity and debt securities and other investments. Such investments are exposed to various risks, such as interest rate,
        market and credit risks. Market values of investments may decline for a number of reasons, including changes in prevailing market and interest rates, increases in defaults and credit rating downgrades, as well as the risk associated with global
        events. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the values of investments, it is at least reasonably possible that changes in these factors in the near term would materially
        affect participants&#8217; account balances and the amounts reported in the statement of net assets available for benefits and the statement of changes in net assets available for benefits. The Plan&#8217;s exposure to a concentration of credit risk is
        dependent upon the investments selected by the participants.</div>
      <div>&#160;</div>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 18pt;">The Plan is subject to legal proceedings and claims which might arise in the ordinary course of its activities. At this time, there are no legal proceedings against the Plan that might impact the
        financial statements.</div>
      <div style="text-align: justify; margin-left: 18pt;"> <br>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">11</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" class="BRPFPageHeader">
        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" id="z3b25c54b69e043978be7e1782356f41b" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">Islands and the United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">EIN #: 66-0183103</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">Plan #: 004</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;"><a name="ScheduleHLine4iScheduleof"><!--Anchor--></a><!--Anchor-->Schedule H, Line 4(i) &#8211; Schedule of Assets (Held at End of Year)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-weight: bold;">December 31, 2024</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zf5812a7e63c34e9694fb2f5bf1f90862" class="cfttable">

        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 3%;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">(a)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 31.35%;" rowspan="1">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">(b) Identity of issue, borrower, lessor or similar party</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" rowspan="1" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1" colspan="6">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">(c) Description of Investment, including</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">maturity date and rate of interest (in the</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">case of notes receivable), or par value</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 0.85%;" rowspan="1" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 3.52%;" rowspan="1" colspan="1" class="cftfncell">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">(d)</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Cost</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 0.85%;" rowspan="1" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1" colspan="2">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">(e) Current value</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; width: 0.85%;" rowspan="1" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 31.35%;">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Common Stocks</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 20%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 3%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0); text-align: center;">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 31.35%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">First BanCorp.</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Common Stock</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">54,811</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); font-weight: bold; text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
            <div style="color: rgb(0, 0, 0);">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,018,946</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%; padding-bottom: 2px;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 31.35%; padding-bottom: 2px;">
            <div style="color: rgb(0, 0, 0);">Total Common Stocks</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; padding-bottom: 2px;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; width: 3.52%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,018,946</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Mutual Funds and Money Market Funds</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Cohen &amp; Steers Realty Shares Fund Class L</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
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            <div style="color: rgb(0, 0, 0);">86,521</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Dodge &amp; Cox Global Bond Fund X</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
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            <div style="color: rgb(0, 0, 0);">7,986</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">83,932</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Fidelity Extended Market Index Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">24,984</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">2,270,505</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Fidelity International Index Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">29,009</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,379,109</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 3%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0); text-align: center;">*</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Schwab S&amp;P 500 Index Fund- Select S</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">80,120</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">7,232,393</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Vanguard Inflation-Protected Securities Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">7,380</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">166,192</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement Income Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">21,061</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
            <div style="color: rgb(0, 0, 0);">shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">275,904</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement 2020 Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">18,389</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">486,948</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement 2025 Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">32,574</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
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            <div style="color: rgb(0, 0, 0);">608,815</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement 2030 Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">44,348</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,679,904</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement 2035 Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">32,082</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">769,327</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement 2040 Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">18,536</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">801,142</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement 2045 Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">43,334</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
            <div style="color: rgb(0, 0, 0);">shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,285,713</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement 2050 Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">9,612</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">479,086</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement 2055 Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">11,475</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
            <div style="color: rgb(0, 0, 0);">shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">638,147</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement 2060 Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">4,489</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">230,038</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Vanguard Target Retirement 2065 Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">6,139</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
            <div style="color: rgb(0, 0, 0);">shares</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">206,398</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Vanguard Total Bond Market Index Fund Institutional Shares</div>
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          <td valign="bottom" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">159,929</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,516,124</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Vanguard Total Bond Market Index Fund</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Mutual Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">166</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">1,572</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 3%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0); text-align: center;">*</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">State Street Institutional U.S. Government</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;Money Market Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Money Market Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">55,999</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">55,999</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 3%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0); text-align: center;">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; width: 31.35%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Schwab Treasury Obligations Money Fund</div>
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          <td valign="bottom" style="vertical-align: middle; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 20%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0);">Money Market Fund</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">2,793,735</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">shares</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 3.52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">2,793,735</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%; padding-bottom: 2px;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; padding-bottom: 2px;">
            <div style="text-align: center; color: rgb(0, 0, 0); margin-left: 9pt;">Total mutual funds and money market funds</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 20%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; padding-bottom: 2px;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; width: 3.52%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0);">23,047,504</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; width: 3%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Other Investments</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 20%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; width: 3.52%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 3%;" colspan="1" class="cftnumcell">
            <div style="color: rgb(0, 0, 0); text-align: center;">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 31.35%;">
            <div style="color: rgb(0, 0, 0);">Notes receivable from participants</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="6">
            <div style="color: rgb(0, 0, 0);">Interest rates ranging from 5.25%</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; width: 3.52%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 11.42%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255); width: 3%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; background-color: rgb(204, 238, 255); width: 31.35%;">&#160;&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; background-color: rgb(204, 238, 255); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: rgb(204, 238, 255);" colspan="6">
            <div style="color: rgb(0, 0, 0);">to 10.50%. Maturities through December 2034</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3.52%;" colspan="1" class="cftfncell">
            <div style="color: rgb(0, 0, 0); text-align: center;">**</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 0.85%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 20%;">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%;">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%;" colspan="1" class="cftfncell">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
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            <div style="color: rgb(0, 0, 0);">944,533</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 20%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 8.75%; padding-bottom: 2px;" colspan="1" class="cftnumcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; width: 3.52%; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 0.85%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
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            <div style="color: rgb(0, 0, 0);">1,709,997</div>
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            <div style="color: rgb(0, 0, 0);">Total</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 20%; padding-bottom: 2px; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13.37%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
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            <div style="color: rgb(0, 0, 0); font-weight: bold;">$</div>
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            <div style="color: rgb(0, 0, 0); font-weight: bold;">25,776,447</div>
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  <div> <br>
  </div>
  <div>*&#160; &#160; Party in-interest
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      <div style="color: rgb(0, 0, 0);">** Historical cost is not required for participant directed investments.</div>
      <div style="margin-left: 2pt; color: rgb(0, 0, 0);"> <br>
      </div>
      <div style="text-align: center; margin-left: 2pt; color: rgb(0, 0, 0);">See accompanying report of Independent Registered Public Accounting Firm.</div>
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    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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        <div style="font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none;"><a href="#Index">Index</a></div>
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      <div style="text-align: justify; font-weight: bold;"><a name="Signatures"><!--Anchor--></a>Signatures</div>
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      <div style="text-align: justify;"><u>The Plan</u>. Pursuant to the requirement of the Securities Exchange Act of 1934, the Board of Trustees (or the persons who administer the employee benefit plan) have duly caused this annual report to be signed on
        its behalf by the undersigned hereunto duly authorized.</div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td nowrap="nowrap" style="width: 27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>
              <div style="text-align: center; font-weight: bold;">THE FIRSTBANK 401(K) </div>
              <div style="text-align: center; font-weight: bold;">RETIREMENT PLAN FOR </div>
              <div style="text-align: center; font-weight: bold;">RESIDENTS OF THE U.S. </div>
              <div style="text-align: center; font-weight: bold;">VIRGIN ISLANDS AND THE </div>
              <div style="text-align: center; font-weight: bold;">UNITED STATES OF AMERICA</div>
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          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 27%; vertical-align: top;">
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              <div style="text-align: justify;">(Name of Plan)</div>
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          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div>
              <div style="text-align: justify;">Date: June 26, 2025</div>
            </div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>
              <div style="text-align: justify;">By:</div>
            </div>
          </td>
          <td style="width: 27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>
              <div style="text-align: justify;">/s/&#160; Victor Barreras</div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 27%; vertical-align: top;">
            <div>
              <div style="text-align: justify;">Authorized Representative</div>
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          </td>
        </tr>

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      <div><br>
      </div>
      <div><br>
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  <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">13</font></div>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>ef20051228_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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  <div>
    <div style="text-align: right; margin-left: 396pt; color: rgb(0, 0, 0); font-weight: bold;">Exhibit 23.1</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000; font-weight: bold;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;">We consent to the incorporation by reference in Registration Statement No. 333-106661 on Form S-8 of First BanCorp. of our report dated June 26, 2025
      appearing in this Annual Report on Form 11-K of The FirstBank 401(k) Retirement Plan for Residents of the U.S. Virgin Islands and the United States of America for the year ended December 31, 2024.</div>
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    <div style="text-align: justify;">/s/ Crowe LLP</div>
    <div style="text-align: justify;">Chicago, Illinois</div>
    <div style="color: #000000;">June 26, 2025</div>
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      <div><br>
      </div>
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