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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SpecialMentionMember" xlink:label="loc_us-gaap_SpecialMentionMember_0734B94BCC04D81260DFB6BB683B6401" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SpecialMentionMember_0734B94BCC04D81260DFB6BB683B6401" xlink:to="lab_us-gaap_SpecialMentionMember_0734B94BCC04D81260DFB6BB683B6401" xlink:type="arc" />
    <link:label id="lab_fbp_ClassifiedMember_194C07000B5B48DED15CB6BB683B416A_terseLabel_en-US" xlink:label="lab_fbp_ClassifiedMember_194C07000B5B48DED15CB6BB683B416A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classified Accruing Loans</link:label>
    <link:label id="lab_fbp_ClassifiedMember_194C07000B5B48DED15CB6BB683B416A_label_en-US" xlink:label="lab_fbp_ClassifiedMember_194C07000B5B48DED15CB6BB683B416A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classified Accruing Loans [Member]</link:label>
    <link:label id="lab_fbp_ClassifiedMember_194C07000B5B48DED15CB6BB683B416A_documentation_en-US" xlink:label="lab_fbp_ClassifiedMember_194C07000B5B48DED15CB6BB683B416A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">A category of credit quality indicator.</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_ClassifiedMember" xlink:label="loc_fbp_ClassifiedMember_194C07000B5B48DED15CB6BB683B416A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_ClassifiedMember_194C07000B5B48DED15CB6BB683B416A" xlink:to="lab_fbp_ClassifiedMember_194C07000B5B48DED15CB6BB683B416A" xlink:type="arc" />
    <link:label id="lab_fbp_NonaccrualFinancingReceivableMember_124F47C6DF6464E662E5B6BB683B58BD_terseLabel_en-US" xlink:label="lab_fbp_NonaccrualFinancingReceivableMember_124F47C6DF6464E662E5B6BB683B58BD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classified Nonaccrual Loans</link:label>
    <link:label id="lab_fbp_NonaccrualFinancingReceivableMember_124F47C6DF6464E662E5B6BB683B58BD_label_en-US" xlink:label="lab_fbp_NonaccrualFinancingReceivableMember_124F47C6DF6464E662E5B6BB683B58BD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classified Nonaccrual Loans [Member]</link:label>
    <link:label id="lab_fbp_NonaccrualFinancingReceivableMember_124F47C6DF6464E662E5B6BB683B58BD_documentation_en-US" xlink:label="lab_fbp_NonaccrualFinancingReceivableMember_124F47C6DF6464E662E5B6BB683B58BD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reflects the carrying amount of loans which no interest is continuing to be recognized.</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_NonaccrualFinancingReceivableMember" xlink:label="loc_fbp_NonaccrualFinancingReceivableMember_124F47C6DF6464E662E5B6BB683B58BD" xlink:type="locator" />
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    <link:label id="lab_fbp_PurchasedCreditImpairedPCILoansMember_47975B12A140243F6B9DB6BB683DF79D_terseLabel_en-US" xlink:label="lab_fbp_PurchasedCreditImpairedPCILoansMember_47975B12A140243F6B9DB6BB683DF79D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PCI Loans</link:label>
    <link:label id="lab_fbp_PurchasedCreditImpairedPCILoansMember_47975B12A140243F6B9DB6BB683DF79D_label_en-US" xlink:label="lab_fbp_PurchasedCreditImpairedPCILoansMember_47975B12A140243F6B9DB6BB683DF79D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchased Credit Impaired (PCI) Loans [Member]</link:label>
    <link:label id="lab_fbp_PurchasedCreditImpairedPCILoansMember_47975B12A140243F6B9DB6BB683DF79D_documentation_en-US" xlink:label="lab_fbp_PurchasedCreditImpairedPCILoansMember_47975B12A140243F6B9DB6BB683DF79D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Purchased Credit Impaired (PCI) Loans [Member]</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_PurchasedCreditImpairedPCILoansMember" xlink:label="loc_fbp_PurchasedCreditImpairedPCILoansMember_47975B12A140243F6B9DB6BB683DF79D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_8682871950D777F8B2B5B6BB683D5A83_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_8682871950D777F8B2B5B6BB683D5A83" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_8682871950D777F8B2B5B6BB683D5A83_label_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_8682871950D777F8B2B5B6BB683D5A83" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_8682871950D777F8B2B5B6BB683D5A83" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_8682871950D777F8B2B5B6BB683D5A83" xlink:to="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_8682871950D777F8B2B5B6BB683D5A83" xlink:type="arc" />
    <link:label id="lab_us-gaap_ReceivableTypeDomain_542F5A2EECBAB5919758B6BB683E99A7_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain_542F5A2EECBAB5919758B6BB683E99A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable [Domain]</link:label>
    <link:label id="lab_us-gaap_ReceivableTypeDomain_542F5A2EECBAB5919758B6BB683E99A7_label_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain_542F5A2EECBAB5919758B6BB683E99A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaap_ReceivableTypeDomain_542F5A2EECBAB5919758B6BB683E99A7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivableTypeDomain_542F5A2EECBAB5919758B6BB683E99A7" xlink:to="lab_us-gaap_ReceivableTypeDomain_542F5A2EECBAB5919758B6BB683E99A7" xlink:type="arc" />
    <link:label id="lab_fbp_LoansExcludingPurchasedCreditImpairedLoansMember_DCC34FE4E29F79C38C99B6BB683E0861_terseLabel_en-US" xlink:label="lab_fbp_LoansExcludingPurchasedCreditImpairedLoansMember_DCC34FE4E29F79C38C99B6BB683E0861" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans, Excluding Purchased Credit Impaired Loans</link:label>
    <link:label id="lab_fbp_LoansExcludingPurchasedCreditImpairedLoansMember_DCC34FE4E29F79C38C99B6BB683E0861_label_en-US" xlink:label="lab_fbp_LoansExcludingPurchasedCreditImpairedLoansMember_DCC34FE4E29F79C38C99B6BB683E0861" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans, Excluding Purchased Credit Impaired Loans [Member]</link:label>
    <link:label id="lab_fbp_LoansExcludingPurchasedCreditImpairedLoansMember_DCC34FE4E29F79C38C99B6BB683E0861_documentation_en-US" xlink:label="lab_fbp_LoansExcludingPurchasedCreditImpairedLoansMember_DCC34FE4E29F79C38C99B6BB683E0861" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loans, Excluding Purchased Credit Impaired Loans [Member]</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_LoansExcludingPurchasedCreditImpairedLoansMember" xlink:label="loc_fbp_LoansExcludingPurchasedCreditImpairedLoansMember_DCC34FE4E29F79C38C99B6BB683E0861" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_LoansExcludingPurchasedCreditImpairedLoansMember_DCC34FE4E29F79C38C99B6BB683E0861" xlink:to="lab_fbp_LoansExcludingPurchasedCreditImpairedLoansMember_DCC34FE4E29F79C38C99B6BB683E0861" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_9C12B37FF2103F25165CB6BB684059E0_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_9C12B37FF2103F25165CB6BB684059E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Line Items]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_9C12B37FF2103F25165CB6BB684059E0_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_9C12B37FF2103F25165CB6BB684059E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems_9C12B37FF2103F25165CB6BB684059E0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems_9C12B37FF2103F25165CB6BB684059E0" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_9C12B37FF2103F25165CB6BB684059E0" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancingReceivableBeforeAllowanceForCreditLossAndFee_A867E205F0D0014B5DBFB6BB68404A79_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableBeforeAllowanceForCreditLossAndFee_A867E205F0D0014B5DBFB6BB68404A79" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans, gross</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableBeforeAllowanceForCreditLossAndFee_A867E205F0D0014B5DBFB6BB68404A79_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableBeforeAllowanceForCreditLossAndFee_A867E205F0D0014B5DBFB6BB68404A79" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, before Allowance for Credit Loss and Fee</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancingReceivableBeforeAllowanceForCreditLossAndFee" xlink:label="loc_us-gaap_FinancingReceivableBeforeAllowanceForCreditLossAndFee_A867E205F0D0014B5DBFB6BB68404A79" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableBeforeAllowanceForCreditLossAndFee_A867E205F0D0014B5DBFB6BB68404A79" xlink:to="lab_us-gaap_FinancingReceivableBeforeAllowanceForCreditLossAndFee_A867E205F0D0014B5DBFB6BB68404A79" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount_E330AC3B624FDE9A89BCB6BB68409480_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount_E330AC3B624FDE9A89BCB6BB68409480" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unamortized net deferred loan costs (fees)</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount_E330AC3B624FDE9A89BCB6BB68409480_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount_E330AC3B624FDE9A89BCB6BB68409480" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Commitment, Origination Fee, and Premium (Discount)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount" xlink:label="loc_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount_E330AC3B624FDE9A89BCB6BB68409480" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount_E330AC3B624FDE9A89BCB6BB68409480" xlink:to="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount_E330AC3B624FDE9A89BCB6BB68409480" xlink:type="arc" />
    <link:label id="lab_us-gaap_NotesReceivableGross_73E973973E42C7E08997B6BB6841847E_totalLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableGross_73E973973E42C7E08997B6BB6841847E" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total loans</link:label>
    <link:label id="lab_us-gaap_NotesReceivableGross_73E973973E42C7E08997B6BB6841847E_label_en-US" xlink:label="lab_us-gaap_NotesReceivableGross_73E973973E42C7E08997B6BB6841847E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, before Allowance for Credit Loss</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NotesReceivableGross" xlink:label="loc_us-gaap_NotesReceivableGross_73E973973E42C7E08997B6BB6841847E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableGross_73E973973E42C7E08997B6BB6841847E" xlink:to="lab_us-gaap_NotesReceivableGross_73E973973E42C7E08997B6BB6841847E" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableDisclosureTable_0DBBA2D873504CEC0FAFEBA5C9E11967_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableDisclosureTable_CFB1C1C4166A511DB5CEFFDF62FD7B98" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable Disclosure [Table]</link:label>
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableDisclosureTable_0DBBA2D873504CEC0FAFEBA5C9E11967_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableDisclosureTable_CFB1C1C4166A511DB5CEFFDF62FD7B98" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable Disclosure [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableDisclosureTable" xlink:label="loc_us-gaap_LoansAndLeasesReceivableDisclosureTable_CFB1C1C4166A511DB5CEFFDF62FD7B98" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_83830EEE902714A3826BEBA5C9E488B9_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_6CDE8744BD995B8B8E96EEFF94797F03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable Disclosure [Line Items]</link:label>
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_83830EEE902714A3826BEBA5C9E488B9_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_6CDE8744BD995B8B8E96EEFF94797F03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable Disclosure [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableDisclosureLineItems" xlink:label="loc_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_6CDE8744BD995B8B8E96EEFF94797F03" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_6CDE8744BD995B8B8E96EEFF94797F03" xlink:to="lab_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_6CDE8744BD995B8B8E96EEFF94797F03" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_73A3E6498A69B4F0893AEBA5C9E4FBCA_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_FBCAC166261F5DD2892502C5B5618FAA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nonaccrual loans</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_73A3E6498A69B4F0893AEBA5C9E4FBCA_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_FBCAC166261F5DD2892502C5B5618FAA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Nonaccrual</link:label>
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    <link:label id="lab_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments_EDB7E836983321A730F4CAB4BD690C2A_negatedLabel_en-US" xlink:label="lab_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments_EDB7E836983321A730F4CAB4BD690C2A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net security premium amortization</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments" xlink:label="loc_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments_EDB7E836983321A730F4CAB4BD690C2A" xlink:type="locator" />
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    <link:label id="lab_fbp_LoanDiscountAccretion_95060191F5797DFE34E3CAB4BD69D260_negatedTerseLabel_en-US" xlink:label="lab_fbp_LoanDiscountAccretion_95060191F5797DFE34E3CAB4BD69D260" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Loan discount accretion</link:label>
    <link:label id="lab_fbp_LoanDiscountAccretion_95060191F5797DFE34E3CAB4BD69D260_label_en-US" xlink:label="lab_fbp_LoanDiscountAccretion_95060191F5797DFE34E3CAB4BD69D260" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Discount Accretion</link:label>
    <link:label id="lab_fbp_LoanDiscountAccretion_95060191F5797DFE34E3CAB4BD69D260_documentation_en-US" xlink:label="lab_fbp_LoanDiscountAccretion_95060191F5797DFE34E3CAB4BD69D260" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount recorded in earnings for the periodic recognition of adjustments for loan discount accretions.</link:label>
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    <link:label id="lab_fbp_OtherPurchaseAccountingAccretionAndAmortizationNet_B76C110E6A2E1BC31327CAB4BD694B4A_negatedLabel_en-US" xlink:label="lab_fbp_OtherPurchaseAccountingAccretionAndAmortizationNet_B76C110E6A2E1BC31327CAB4BD694B4A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other purchase accounting accretion and amortization, net</link:label>
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    <link:label id="lab_fbp_OtherPurchaseAccountingAccretionAndAmortizationNet_B76C110E6A2E1BC31327CAB4BD694B4A_documentation_en-US" xlink:label="lab_fbp_OtherPurchaseAccountingAccretionAndAmortizationNet_B76C110E6A2E1BC31327CAB4BD694B4A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other purchase accounting accretion and amortization, net.</link:label>
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    <link:label id="lab_us-gaap_GainsLossesOnSalesOfOtherRealEstate_D40A47C9A13951A51D2BCAB4BD6AD994_negatedLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfOtherRealEstate_D40A47C9A13951A51D2BCAB4BD6AD994" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Foreclosed property losses and write-downs, net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GainsLossesOnSalesOfOtherRealEstate" xlink:label="loc_us-gaap_GainsLossesOnSalesOfOtherRealEstate_D40A47C9A13951A51D2BCAB4BD6AD994" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnSalesOfOtherRealEstate_D40A47C9A13951A51D2BCAB4BD6AD994" xlink:to="lab_us-gaap_GainsLossesOnSalesOfOtherRealEstate_D40A47C9A13951A51D2BCAB4BD6AD994" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_2751EA6D5BB41252BF56CAB4BD6A3E40_negatedLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_2751EA6D5BB41252BF56CAB4BD6A3E40" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gains on securities available for sale</link:label>
    <link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_2751EA6D5BB41252BF56CAB4BD6A3E40_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_2751EA6D5BB41252BF56CAB4BD6A3E40" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Realized Gain (Loss)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_2751EA6D5BB41252BF56CAB4BD6A3E40" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_2751EA6D5BB41252BF56CAB4BD6A3E40" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_2751EA6D5BB41252BF56CAB4BD6A3E40" xlink:type="arc" />
    <link:label id="lab_fbp_OtherOperatingGainsLosses_C188A5509B64256FDACDCAB4BD6A6F2A_negatedLabel_en-US" xlink:label="lab_fbp_OtherOperatingGainsLosses_C188A5509B64256FDACDCAB4BD6A6F2A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other losses</link:label>
    <link:label id="lab_fbp_OtherOperatingGainsLosses_C188A5509B64256FDACDCAB4BD6A6F2A_label_en-US" xlink:label="lab_fbp_OtherOperatingGainsLosses_C188A5509B64256FDACDCAB4BD6A6F2A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Operating Gains (Losses)</link:label>
    <link:label id="lab_fbp_OtherOperatingGainsLosses_C188A5509B64256FDACDCAB4BD6A6F2A_documentation_en-US" xlink:label="lab_fbp_OtherOperatingGainsLosses_C188A5509B64256FDACDCAB4BD6A6F2A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other operating gains (losses).</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_OtherOperatingGainsLosses" xlink:label="loc_fbp_OtherOperatingGainsLosses_C188A5509B64256FDACDCAB4BD6A6F2A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_OtherOperatingGainsLosses_C188A5509B64256FDACDCAB4BD6A6F2A" xlink:to="lab_fbp_OtherOperatingGainsLosses_C188A5509B64256FDACDCAB4BD6A6F2A" xlink:type="arc" />
    <link:label id="lab_fbp_IncreaseInNetDeferredLoanCosts_D1CADB175716C0D26EE7CAB4BD6B350B_terseLabel_en-US" xlink:label="lab_fbp_IncreaseInNetDeferredLoanCosts_D1CADB175716C0D26EE7CAB4BD6B350B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Decrease (increase) in net deferred loan costs</link:label>
    <link:label id="lab_fbp_IncreaseInNetDeferredLoanCosts_D1CADB175716C0D26EE7CAB4BD6B350B_label_en-US" xlink:label="lab_fbp_IncreaseInNetDeferredLoanCosts_D1CADB175716C0D26EE7CAB4BD6B350B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase In Net Deferred Loan Costs</link:label>
    <link:label id="lab_fbp_IncreaseInNetDeferredLoanCosts_D1CADB175716C0D26EE7CAB4BD6B350B_documentation_en-US" xlink:label="lab_fbp_IncreaseInNetDeferredLoanCosts_D1CADB175716C0D26EE7CAB4BD6B350B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase or decrease in the amount of deferred loan costs during the period.</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_IncreaseInNetDeferredLoanCosts" xlink:label="loc_fbp_IncreaseInNetDeferredLoanCosts_D1CADB175716C0D26EE7CAB4BD6B350B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_Depreciation_F1CA82BB75A50B055A81CAB4BD6B48CF_terseLabel_en-US" xlink:label="lab_us-gaap_Depreciation_F1CA82BB75A50B055A81CAB4BD6B48CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation of premises and equipment</link:label>
    <link:label id="lab_us-gaap_Depreciation_F1CA82BB75A50B055A81CAB4BD6B48CF_label_en-US" xlink:label="lab_us-gaap_Depreciation_F1CA82BB75A50B055A81CAB4BD6B48CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Depreciation" xlink:label="loc_us-gaap_Depreciation_F1CA82BB75A50B055A81CAB4BD6B48CF" xlink:type="locator" />
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    <link:label id="lab_fbp_AmortizationOfOperatingLeaseRightOfUseAssets_929B1C17A47CC78B4BCECAB4BD6B921D_terseLabel_en-US" xlink:label="lab_fbp_AmortizationOfOperatingLeaseRightOfUseAssets_929B1C17A47CC78B4BCECAB4BD6B921D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of operating lease right-of-use assets</link:label>
    <link:label id="lab_fbp_AmortizationOfOperatingLeaseRightOfUseAssets_929B1C17A47CC78B4BCECAB4BD6B921D_label_en-US" xlink:label="lab_fbp_AmortizationOfOperatingLeaseRightOfUseAssets_929B1C17A47CC78B4BCECAB4BD6B921D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization Of Operating Lease Right-Of-Use Assets</link:label>
    <link:label id="lab_fbp_AmortizationOfOperatingLeaseRightOfUseAssets_929B1C17A47CC78B4BCECAB4BD6B921D_documentation_en-US" xlink:label="lab_fbp_AmortizationOfOperatingLeaseRightOfUseAssets_929B1C17A47CC78B4BCECAB4BD6B921D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of amortization expense attributable to right-of-use asset from operating lease.</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_AmortizationOfOperatingLeaseRightOfUseAssets" xlink:label="loc_fbp_AmortizationOfOperatingLeaseRightOfUseAssets_929B1C17A47CC78B4BCECAB4BD6B921D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeasePayments_7CEEF658C8DCD0AB7266CAB4BD7057ED_negatedLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasePayments_7CEEF658C8DCD0AB7266CAB4BD7057ED" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayments of lease obligations</link:label>
    <link:label id="lab_us-gaap_OperatingLeasePayments_7CEEF658C8DCD0AB7266CAB4BD7057ED_label_en-US" xlink:label="lab_us-gaap_OperatingLeasePayments_7CEEF658C8DCD0AB7266CAB4BD7057ED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Payments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeasePayments" xlink:label="loc_us-gaap_OperatingLeasePayments_7CEEF658C8DCD0AB7266CAB4BD7057ED" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ShareBasedCompensation_B960ABAB11F8BE1A7975CAB4BD71D7B6_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_B960ABAB11F8BE1A7975CAB4BD71D7B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation expense</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_B960ABAB11F8BE1A7975CAB4BD71D7B6_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_B960ABAB11F8BE1A7975CAB4BD71D7B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Noncash Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_B960ABAB11F8BE1A7975CAB4BD71D7B6" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_A724AFF54841D9D7190ECAB4BD713DB1_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_A724AFF54841D9D7190ECAB4BD713DB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of intangible assets</link:label>
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    <link:label id="lab_us-gaap_ServicingAssetAtAmortizedValueAmortization1_74C2EAE49C02C9C32370CAB4BD715A4B_terseLabel_en-US" xlink:label="lab_us-gaap_ServicingAssetAtAmortizedValueAmortization1_74C2EAE49C02C9C32370CAB4BD715A4B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of SBA servicing assets</link:label>
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    <link:label id="lab_fbp_OriginationOfPreSoldMortgageLoansInProcessOfSettlement_3E3240698CD12FD093F8CAB4BD7110FD_label_en-US" xlink:label="lab_fbp_OriginationOfPreSoldMortgageLoansInProcessOfSettlement_3E3240698CD12FD093F8CAB4BD7110FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Origination Of Pre-Sold Mortgage Loans In Process Of Settlement</link:label>
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    <link:label id="lab_fbp_ProceedsFromSalesOfSBALoans_5E9C0840DF139D92AAE7CAB4BD72251B_terseLabel_en-US" xlink:label="lab_fbp_ProceedsFromSalesOfSBALoans_5E9C0840DF139D92AAE7CAB4BD72251B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sales of SBA loans</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_1BC438C658D6881B4CD0CAB4BD747066_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_1BC438C658D6881B4CD0CAB4BD747066" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
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    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDue_9EF265AEA13D10FEDEB7C4564530FB1C_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDue_9EF265AEA13D10FEDEB7C4564530FB1C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing receivable, past due</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDue_9EF265AEA13D10FEDEB7C4564530FB1C_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDue_9EF265AEA13D10FEDEB7C4564530FB1C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Past Due</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentPastDue_9EF265AEA13D10FEDEB7C4564530FB1C" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDue_9EF265AEA13D10FEDEB7C4564530FB1C" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentCurrent_C5D480FAE53079C6669FC45645315FF6_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentCurrent_C5D480FAE53079C6669FC45645315FF6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accruing Current</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentCurrent_C5D480FAE53079C6669FC45645315FF6_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentCurrent_C5D480FAE53079C6669FC45645315FF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Not Past Due</link:label>
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    <link:label id="lab_fbp_OtherServiceChargesCommissionsAndFeesAbstract_2D87655F04BCEF9F1E9DC0E81D243D3D_terseLabel_en-US" xlink:label="lab_fbp_OtherServiceChargesCommissionsAndFeesAbstract_2D87655F04BCEF9F1E9DC0E81D243D3D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other service charges, commissions, and fees:</link:label>
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    <link:label id="lab_fbp_OtherServiceChargesCommissionsAndFeesAbstract_2D87655F04BCEF9F1E9DC0E81D243D3D_documentation_en-US" xlink:label="lab_fbp_OtherServiceChargesCommissionsAndFeesAbstract_2D87655F04BCEF9F1E9DC0E81D243D3D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" />
    <link:loc xlink:href="fbp-20200630.xsd#fbp_OtherServiceChargesCommissionsAndFeesAbstract" xlink:label="loc_fbp_OtherServiceChargesCommissionsAndFeesAbstract_2D87655F04BCEF9F1E9DC0E81D243D3D" xlink:type="locator" />
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    <link:label id="lab_fbp_InterchangeIncomeNet_4F5744C18CCDE7AB25F0C0E81D24D2C6_terseLabel_en-US" xlink:label="lab_fbp_InterchangeIncomeNet_4F5744C18CCDE7AB25F0C0E81D24D2C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interchange income</link:label>
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    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_5FE81173D47A11CBBB44598CDFC5D227_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_F223F7538BB95A1F9A3BA56B80B196D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value</link:label>
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    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_C21CFA4102A1752A120E598CDFC69B88_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D2E1171842915DA78FB60FB847BD357C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D2E1171842915DA78FB60FB847BD357C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D2E1171842915DA78FB60FB847BD357C" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D2E1171842915DA78FB60FB847BD357C" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_23EEFC1D29B25B7F7970598CDFC6CA62_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_C93461C7EEB2592B84ABC2D7B4129AF3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Due after five years but within ten years</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_23EEFC1D29B25B7F7970598CDFC6CA62_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_C93461C7EEB2592B84ABC2D7B4129AF3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_C93461C7EEB2592B84ABC2D7B4129AF3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_C93461C7EEB2592B84ABC2D7B4129AF3" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_C93461C7EEB2592B84ABC2D7B4129AF3" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_2183D827BE46C5C57756598CDFC65AD4_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_CFBBD2085F545672B225B21DF22C14AD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Due after ten years</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_2183D827BE46C5C57756598CDFC65AD4_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_CFBBD2085F545672B225B21DF22C14AD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_CFBBD2085F545672B225B21DF22C14AD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_CFBBD2085F545672B225B21DF22C14AD" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_CFBBD2085F545672B225B21DF22C14AD" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue_272176E96CD0C54E55E1598CDFC64AC4_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue_7B789A2748965C259CF7A1CB24BB5A56" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Mortgage-backed securities</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue_272176E96CD0C54E55E1598CDFC64AC4_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue_7B789A2748965C259CF7A1CB24BB5A56" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue_7B789A2748965C259CF7A1CB24BB5A56" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue_7B789A2748965C259CF7A1CB24BB5A56" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue_7B789A2748965C259CF7A1CB24BB5A56" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_7D8B23DCDFA8C6241D22598CDFC6E86C_totalLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_CC342DA13FA457A88368355042B5F73D" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_CC342DA13FA457A88368355042B5F73D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_CC342DA13FA457A88368355042B5F73D" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_CC342DA13FA457A88368355042B5F73D" xlink:type="arc" />
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesClassifiedAbstract_26A92D88770B2FFBC791598CDFC60F83_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesClassifiedAbstract_9B465E9011D65271B182A6145A0F8802" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities Held to Maturity</link:label>
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesClassifiedAbstract_26A92D88770B2FFBC791598CDFC60F83_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesClassifiedAbstract_9B465E9011D65271B182A6145A0F8802" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Held-to-maturity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesClassifiedAbstract" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesClassifiedAbstract_9B465E9011D65271B182A6145A0F8802" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesClassifiedAbstract_9B465E9011D65271B182A6145A0F8802" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesClassifiedAbstract_9B465E9011D65271B182A6145A0F8802" xlink:type="arc" />
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmountAbstract_AC9A28A56F39C9FD00ED598CDFC785C5_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmountAbstract_08BED3A34A5D5689AC5B426410B98E38" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortized Cost</link:label>
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmountAbstract_AC9A28A56F39C9FD00ED598CDFC785C5_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmountAbstract_08BED3A34A5D5689AC5B426410B98E38" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Net [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmountAbstract" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmountAbstract_08BED3A34A5D5689AC5B426410B98E38" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmountAbstract_08BED3A34A5D5689AC5B426410B98E38" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmountAbstract_08BED3A34A5D5689AC5B426410B98E38" xlink:type="arc" />
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount_259C24FFB98BD6218D50598CDFC7CAF2_verboseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount_F3D2B8DA602753A8B8FF07DCC10BEC5C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Due within one year</link:label>
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount_259C24FFB98BD6218D50598CDFC7CAF2_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount_F3D2B8DA602753A8B8FF07DCC10BEC5C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount_F3D2B8DA602753A8B8FF07DCC10BEC5C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount_F3D2B8DA602753A8B8FF07DCC10BEC5C" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount_F3D2B8DA602753A8B8FF07DCC10BEC5C" xlink:type="arc" />
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount_41CCB567C9977BA8EB20598CDFC71F60_verboseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount_0A11AEAA6DAF57D68EBFA7BC226D3A56" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Due after one year but within five years</link:label>
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount_41CCB567C9977BA8EB20598CDFC71F60_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount_0A11AEAA6DAF57D68EBFA7BC226D3A56" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount_0A11AEAA6DAF57D68EBFA7BC226D3A56" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount_0A11AEAA6DAF57D68EBFA7BC226D3A56" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount_0A11AEAA6DAF57D68EBFA7BC226D3A56" xlink:type="arc" />
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount_2510E3775F410B172C06598CDFC71A3C_verboseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount_D5234726C86E53A7A6ABF26E3D0ED477" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Due after five years but within ten years</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount_D5234726C86E53A7A6ABF26E3D0ED477" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount_D5234726C86E53A7A6ABF26E3D0ED477" xlink:type="arc" />
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount_31BCB30BE780F2B3654B598CDFC72EC6_verboseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount_4EC43F7E67F858DE891CF2A62E9148A5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Due after ten years</link:label>
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount_31BCB30BE780F2B3654B598CDFC72EC6_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount_4EC43F7E67F858DE891CF2A62E9148A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after 10 Years, Amortized Cost</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount_4EC43F7E67F858DE891CF2A62E9148A5" xlink:type="locator" />
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    <link:label id="lab_fbp_FinancingReceivableNumberOfSBAPaycheckProtectionProgramLoansApproved_B513F133FC5C4F3EEA98C0E81F9FD041_terseLabel_en-US" xlink:label="lab_fbp_FinancingReceivableNumberOfSBAPaycheckProtectionProgramLoansApproved_B513F133FC5C4F3EEA98C0E81F9FD041" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of PPP loans approved</link:label>
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    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditThreeMember_3A1854D9084DF5A8EF5EC3FE498D7C31_label_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditThreeMember_3A1854D9084DF5A8EF5EC3FE498D7C31" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Three [Member]</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditThreeMember_3A1854D9084DF5A8EF5EC3FE498D7C31_documentation_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditThreeMember_3A1854D9084DF5A8EF5EC3FE498D7C31" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Three [Member]</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_FederalHomeLoanBankPrincipalReducingCreditThreeMember" xlink:label="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditThreeMember_3A1854D9084DF5A8EF5EC3FE498D7C31" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditThreeMember_3A1854D9084DF5A8EF5EC3FE498D7C31" xlink:to="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditThreeMember_3A1854D9084DF5A8EF5EC3FE498D7C31" xlink:type="arc" />
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFourMember_CF03C7174761463FAD77C3FE498D2065_terseLabel_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFourMember_CF03C7174761463FAD77C3FE498D2065" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FHLB Principal Reducing Credit due June 26, 2028</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFourMember_CF03C7174761463FAD77C3FE498D2065_label_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFourMember_CF03C7174761463FAD77C3FE498D2065" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Four [Member]</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFourMember_CF03C7174761463FAD77C3FE498D2065_documentation_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFourMember_CF03C7174761463FAD77C3FE498D2065" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Four [Member]</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_FederalHomeLoanBankPrincipalReducingCreditFourMember" xlink:label="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditFourMember_CF03C7174761463FAD77C3FE498D2065" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditFourMember_CF03C7174761463FAD77C3FE498D2065" xlink:to="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFourMember_CF03C7174761463FAD77C3FE498D2065" xlink:type="arc" />
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFiveMember_A56D9C2C7C102CEA8E34C3FE498D8975_terseLabel_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFiveMember_A56D9C2C7C102CEA8E34C3FE498D8975" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FHLB Principal Reducing Credit due July 17, 2028</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFiveMember_A56D9C2C7C102CEA8E34C3FE498D8975_label_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFiveMember_A56D9C2C7C102CEA8E34C3FE498D8975" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Five [Member]</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFiveMember_A56D9C2C7C102CEA8E34C3FE498D8975_documentation_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFiveMember_A56D9C2C7C102CEA8E34C3FE498D8975" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Five [Member]</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_FederalHomeLoanBankPrincipalReducingCreditFiveMember" xlink:label="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditFiveMember_A56D9C2C7C102CEA8E34C3FE498D8975" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditFiveMember_A56D9C2C7C102CEA8E34C3FE498D8975" xlink:to="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditFiveMember_A56D9C2C7C102CEA8E34C3FE498D8975" xlink:type="arc" />
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSixMember_005FF9678A8FB8DCE3A2C3FE498DCA4A_terseLabel_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSixMember_005FF9678A8FB8DCE3A2C3FE498DCA4A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FHLB Principal Reducing Credit due August 18, 2028</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSixMember_005FF9678A8FB8DCE3A2C3FE498DCA4A_label_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSixMember_005FF9678A8FB8DCE3A2C3FE498DCA4A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Six [Member]</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSixMember_005FF9678A8FB8DCE3A2C3FE498DCA4A_documentation_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSixMember_005FF9678A8FB8DCE3A2C3FE498DCA4A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Six [Member]</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_FederalHomeLoanBankPrincipalReducingCreditSixMember" xlink:label="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditSixMember_005FF9678A8FB8DCE3A2C3FE498DCA4A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditSixMember_005FF9678A8FB8DCE3A2C3FE498DCA4A" xlink:to="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSixMember_005FF9678A8FB8DCE3A2C3FE498DCA4A" xlink:type="arc" />
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSevenMember_81A3E518D0D4F781867EC3FE498E43F6_terseLabel_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSevenMember_81A3E518D0D4F781867EC3FE498E43F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FHLB Principal Reducing Credit due August 22, 2028</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSevenMember_81A3E518D0D4F781867EC3FE498E43F6_label_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSevenMember_81A3E518D0D4F781867EC3FE498E43F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Seven [Member]</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSevenMember_81A3E518D0D4F781867EC3FE498E43F6_documentation_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSevenMember_81A3E518D0D4F781867EC3FE498E43F6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Seven [Member]</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_FederalHomeLoanBankPrincipalReducingCreditSevenMember" xlink:label="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditSevenMember_81A3E518D0D4F781867EC3FE498E43F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditSevenMember_81A3E518D0D4F781867EC3FE498E43F6" xlink:to="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditSevenMember_81A3E518D0D4F781867EC3FE498E43F6" xlink:type="arc" />
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditEightMember_A7F61F2C3683B4ACC9D1C3FE498E966E_terseLabel_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditEightMember_A7F61F2C3683B4ACC9D1C3FE498E966E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FHLB Principal Reducing Credit due December 20, 2028</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditEightMember_A7F61F2C3683B4ACC9D1C3FE498E966E_label_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditEightMember_A7F61F2C3683B4ACC9D1C3FE498E966E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Eight [Member]</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditEightMember_A7F61F2C3683B4ACC9D1C3FE498E966E_documentation_en-US" xlink:label="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditEightMember_A7F61F2C3683B4ACC9D1C3FE498E966E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Principal Reducing Credit Eight [Member]</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_FederalHomeLoanBankPrincipalReducingCreditEightMember" xlink:label="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditEightMember_A7F61F2C3683B4ACC9D1C3FE498E966E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_FederalHomeLoanBankPrincipalReducingCreditEightMember_A7F61F2C3683B4ACC9D1C3FE498E966E" xlink:to="lab_fbp_FederalHomeLoanBankPrincipalReducingCreditEightMember_A7F61F2C3683B4ACC9D1C3FE498E966E" xlink:type="arc" />
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteOneMember_9E7EA94BA65B77D09839C3FE498AEEC9_terseLabel_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteOneMember_9E7EA94BA65B77D09839C3FE498AEEC9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FHLB Term Note due January 30, 2020</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteOneMember_9E7EA94BA65B77D09839C3FE498AEEC9_label_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteOneMember_9E7EA94BA65B77D09839C3FE498AEEC9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Term Note One [Member]</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteOneMember_9E7EA94BA65B77D09839C3FE498AEEC9_documentation_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteOneMember_9E7EA94BA65B77D09839C3FE498AEEC9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The information pertaining to FHLB term note 1.</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_FederalHomeLoanBankTermNoteOneMember" xlink:label="loc_fbp_FederalHomeLoanBankTermNoteOneMember_9E7EA94BA65B77D09839C3FE498AEEC9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_FederalHomeLoanBankTermNoteOneMember_9E7EA94BA65B77D09839C3FE498AEEC9" xlink:to="lab_fbp_FederalHomeLoanBankTermNoteOneMember_9E7EA94BA65B77D09839C3FE498AEEC9" xlink:type="arc" />
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteTwoMember_B646DA7CF36D443DE391C3FE498B40F6_terseLabel_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteTwoMember_B646DA7CF36D443DE391C3FE498B40F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FHLB Term Note due January 31, 2020</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteTwoMember_B646DA7CF36D443DE391C3FE498B40F6_label_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteTwoMember_B646DA7CF36D443DE391C3FE498B40F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Term Note Two [Member]</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteTwoMember_B646DA7CF36D443DE391C3FE498B40F6_documentation_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteTwoMember_B646DA7CF36D443DE391C3FE498B40F6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The information pertaining to FHLB term note 2.</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_FederalHomeLoanBankTermNoteTwoMember" xlink:label="loc_fbp_FederalHomeLoanBankTermNoteTwoMember_B646DA7CF36D443DE391C3FE498B40F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_FederalHomeLoanBankTermNoteTwoMember_B646DA7CF36D443DE391C3FE498B40F6" xlink:to="lab_fbp_FederalHomeLoanBankTermNoteTwoMember_B646DA7CF36D443DE391C3FE498B40F6" xlink:type="arc" />
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteThreeMember_5C1F7D34C0C4B5EDCF7CC3FE498B3EF3_terseLabel_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteThreeMember_5C1F7D34C0C4B5EDCF7CC3FE498B3EF3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FHLB Term Note due January 31, 2020</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteThreeMember_5C1F7D34C0C4B5EDCF7CC3FE498B3EF3_label_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteThreeMember_5C1F7D34C0C4B5EDCF7CC3FE498B3EF3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Term Note Three [Member]</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteThreeMember_5C1F7D34C0C4B5EDCF7CC3FE498B3EF3_documentation_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteThreeMember_5C1F7D34C0C4B5EDCF7CC3FE498B3EF3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to FHLB term note three.</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_FederalHomeLoanBankTermNoteThreeMember" xlink:label="loc_fbp_FederalHomeLoanBankTermNoteThreeMember_5C1F7D34C0C4B5EDCF7CC3FE498B3EF3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_FederalHomeLoanBankTermNoteThreeMember_5C1F7D34C0C4B5EDCF7CC3FE498B3EF3" xlink:to="lab_fbp_FederalHomeLoanBankTermNoteThreeMember_5C1F7D34C0C4B5EDCF7CC3FE498B3EF3" xlink:type="arc" />
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteFourMember_DB10C894328C7F0245FCC3FE498CD3AA_terseLabel_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteFourMember_DB10C894328C7F0245FCC3FE498CD3AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FHLB Term Note due May 29, 2020</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteFourMember_DB10C894328C7F0245FCC3FE498CD3AA_label_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteFourMember_DB10C894328C7F0245FCC3FE498CD3AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Term Note Four [Member]</link:label>
    <link:label id="lab_fbp_FederalHomeLoanBankTermNoteFourMember_DB10C894328C7F0245FCC3FE498CD3AA_documentation_en-US" xlink:label="lab_fbp_FederalHomeLoanBankTermNoteFourMember_DB10C894328C7F0245FCC3FE498CD3AA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to FHLB term note four.</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_FederalHomeLoanBankTermNoteFourMember" xlink:label="loc_fbp_FederalHomeLoanBankTermNoteFourMember_DB10C894328C7F0245FCC3FE498CD3AA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_FederalHomeLoanBankTermNoteFourMember_DB10C894328C7F0245FCC3FE498CD3AA" xlink:to="lab_fbp_FederalHomeLoanBankTermNoteFourMember_DB10C894328C7F0245FCC3FE498CD3AA" xlink:type="arc" />
    <link:label id="lab_fbp_TrustPreferredSecuritiesMember_38AB67ADE8BD52067DD1C3FE498EC5B5_terseLabel_en-US" xlink:label="lab_fbp_TrustPreferredSecuritiesMember_38AB67ADE8BD52067DD1C3FE498EC5B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trust Preferred Securities due January 23, 2034</link:label>
    <link:label id="lab_fbp_TrustPreferredSecuritiesMember_38AB67ADE8BD52067DD1C3FE498EC5B5_label_en-US" xlink:label="lab_fbp_TrustPreferredSecuritiesMember_38AB67ADE8BD52067DD1C3FE498EC5B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trust Preferred Securities 1 [Member]</link:label>
    <link:label id="lab_fbp_TrustPreferredSecuritiesMember_38AB67ADE8BD52067DD1C3FE498EC5B5_documentation_en-US" xlink:label="lab_fbp_TrustPreferredSecuritiesMember_38AB67ADE8BD52067DD1C3FE498EC5B5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trust Preferred Securities Member</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_TrustPreferredSecuritiesMember" xlink:label="loc_fbp_TrustPreferredSecuritiesMember_38AB67ADE8BD52067DD1C3FE498EC5B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_TrustPreferredSecuritiesMember_38AB67ADE8BD52067DD1C3FE498EC5B5" xlink:to="lab_fbp_TrustPreferredSecuritiesMember_38AB67ADE8BD52067DD1C3FE498EC5B5" xlink:type="arc" />
    <link:label id="lab_fbp_TrustPreferredSecurities2Member_BE32560FA540628DF02CC3FE498E0B0F_terseLabel_en-US" xlink:label="lab_fbp_TrustPreferredSecurities2Member_BE32560FA540628DF02CC3FE498E0B0F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trust Preferred Securities due June 2036</link:label>
    <link:label id="lab_fbp_TrustPreferredSecurities2Member_BE32560FA540628DF02CC3FE498E0B0F_label_en-US" xlink:label="lab_fbp_TrustPreferredSecurities2Member_BE32560FA540628DF02CC3FE498E0B0F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trust Preferred Securities 2 [Member]</link:label>
    <link:label id="lab_fbp_TrustPreferredSecurities2Member_BE32560FA540628DF02CC3FE498E0B0F_documentation_en-US" xlink:label="lab_fbp_TrustPreferredSecurities2Member_BE32560FA540628DF02CC3FE498E0B0F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trust Preferred Securities 2 Member</link:label>
    <link:loc xlink:href="fbp-20200630.xsd#fbp_TrustPreferredSecurities2Member" xlink:label="loc_fbp_TrustPreferredSecurities2Member_BE32560FA540628DF02CC3FE498E0B0F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fbp_TrustPreferredSecurities2Member_BE32560FA540628DF02CC3FE498E0B0F" xlink:to="lab_fbp_TrustPreferredSecurities2Member_BE32560FA540628DF02CC3FE498E0B0F" xlink:type="arc" />
    <link:label id="lab_fbp_TrustPreferredSecurities3Member_EA9960BF526690D512C0C3FE498E00BB_terseLabel_en-US" xlink:label="lab_fbp_TrustPreferredSecurities3Member_EA9960BF526690D512C0C3FE498E00BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trust Preferred Securities due January 7, 2035</link:label>
    <link:label id="lab_fbp_TrustPreferredSecurities3Member_EA9960BF526690D512C0C3FE498E00BB_label_en-US" xlink:label="lab_fbp_TrustPreferredSecurities3Member_EA9960BF526690D512C0C3FE498E00BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trust Preferred Securities 3 [Member]</link:label>
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