United States
Securities and Exchange Commission, Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
FIRST BANCORP
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
318672 10 2
(CUSIP Number)
Angel Alvarez-Perez
Magdalena 1362
Cond. Plaza Estela 1504
San Juan, Puerto Rico
Phone: 787 642-3221
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
May 15, 2008
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on
Schedule 13G to report the acquisition that is the subject
of this Schedule 13D, and is filing this schedule because
of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box. ?
Note: Schedules filed in paper format shall include a
signed original and five copies of the schedule, including
all exhibits. See Rule 13d-7 for other parties to whom
copies are to be sent.
*The remainder of this cover page shall be filled out for a
reporting Person?s initial filing on this form with respect
to the subject class of securities, and for any subsequent
amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover
page shall not be deemed to be ?filed? for the purpose of
section 18 of the Securities Exchange Act of 1934 (?Act?)
or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the
Act (however, see the Notes).



CUSIP No. 318672 10 2
(1) Names of reporting persons:
    Angel Alvarez-Perez

(2) Check the appropriate box if a member of a group (See
Instructions):
(a)?
(b)?
(3) SEC use only
(4) Source of funds (see instructions)
PF
(5) Check if disclosure of legal proceedings is required
pursuant to Items 2(d) or 2(e) ?
(6) Citizenship or place of organization:  United States
Citizen
Number of shares
beneficially owned by each
reporting person with:

(7) Sole voting power
    7,287,618
(8) Shared voting power
    21,300
(9) Sole dispositive power
    7,287,618
(10)Shared dispositive power
    21,300
(11) Aggregate amount beneficially owned by each reporting
person
7,308,918 shares.
(12) Check if the aggregate amount in Row 11 excludes     ?
certain shares (see instructions)
(13) Percent of class represented by amount in Row 11
7.90%
(14) Type of reporting person (see instructions)  IN


ITEM I: Security and Issuer
Common Stock Par Value $1.00 per share. First BanCorp
NYSE/FBP
1519 Ponce de Leon Avenue, Santurce, Puerto Rico
First BanCorp is a bank holding company organized under the
laws of the Commonwealth of Puerto Rico since October 1,
1998.  First BanCorp?s common stock was formerly listed as
FirstBank, PR. The total number of shares of First
BanCorp?s common stock issued, outstanding and in
circulation as of May 14, 2008 is 92,504,506.
ITEM 2: Identity and Background

(a)
Angel Alvarez-Perez


(b)
Magdalena 1362
Cond. Plaza Estela 1504
San Juan, Puerto Rico




(c)
Present principle occupation:  Private Investor




(d)
No




(e)
No




(f)
Citizen of the United States


ITEM 3:Source and Amount of Funds
The Reporting Person has used personal funds in the past to
purchase the shares he owns.
ITEM 4:Purpose of Transaction
The purpose of this filing is primarily to clarify the
status of the reporting person.

The Reporting Person resigned as Chief Executive Officer
and Chairman of the Board of Directors of First BanCorp in
late 2005. The Reporting Person currently intends to remain
a significant stockholder of the Issuer. As part of his
ongoing evaluation of the business, operations, governance,
management, strategy and future plans of the Issuer and his
personal investment objectives, the Reporting Person may
consider, acquiring additional shares of the Issuers Common
Stock from time to time through open market transactions,
as the reporting person determines in his discretion.  The
reporting person may, however, determine at any time to
cease effecting such purchases and/or to dispose of all or
a portion of the shares of the Issuers Common Stock owned
by him. The reporting person will continue to evaluate the
business and prospects of the Issuer, and his present and
future interest in, and intentions with respect to, the
Issuer, and in connection therewith expect from time to
time to consult with management and other shareholders of
the Issuer.

Except as set forth above, the Reporting Person has no
present plans or proposals which relate to or would result
in any of the actions specified below, which include any
plans or proposals that relate to or would result in:
(a)	The acquisition by any person of additional
securities of the Issuer, or the disposition of
securities of the Issuer;
(b)	An extraordinary corporate transaction, such as a
merger, reorganization or liquidation, involving
the Issuer or any of its subsidiaries;
(c)	A sale or transfer of a material amount of assets
of the Issuer or any of its subsidiaries;
(d)	Any change in the present board of directors or
management of the Issuer, including any plans or
proposals to change the number or term of
directors or to fill any existing vacancies on
the board;
(e)	Any material change in the present capitalization
or dividend policy of the Issuer;
(f)	Any other material change in the Issuer?s
business or corporate structure;
(g)	Changes in the Issuer?s charter, bylaws or
instruments corresponding thereto or other
actions which may impede the acquisition of
control of the Issuer by any person;
(h)	Causing a class of securities of the Issuer to be
delisted from a national securities exchange or
to cease to be authorized to be quoted in an
inter-dealer quotation system of a registered
national securities association;
(i)	A class of equity securities of the Issuer
becoming eligible for termination of registration
pursuant to Section 12(g)(4) of the Exchange Act;
or
(j)	Any action similar to any of those enumerated
above.

The Reporting Person reserves the right to change his plans
and intent, at any time and from time to time, based on his
view of his best interests, and other factors in light of
(i) the Issuer?s financial position, future actions taken
by the Issuer?s board of directors, price levels of the
Issuer?s Common Stock or other equity or debt securities of
the Issuer, (ii) his investment opportunities, and (iii)
general economic, political, or industry conditions,
including conditions in the securities market, or changes
in laws, rules, or regulations and any other conditions or
changes thereto, in the Reporting Person?ssole
determination.

Although the foregoing represents the Reporting
Person?scurrent intentions with respect to the Issuer?s
Common stock, the possible actions of the Reporting Person
either alone or with one or more third parties with respect
to the Issuer?s Common Stock are subject to change at any
time and the Reporting Person may formulate plans or
proposals with respect to one or more of the foregoing and
any other matters as he may determine in his sole
discretion in the future.
ITEM 5: Interest in Securities if Issuer

(a)
7,308,918, 7.9%.


(b)
Incorporated by reference from Items 7 - 10 on the
Cover Page of this Schedule 13D.  Mr. Alvarez-Perez
shares voting and dispositive power with respect to
21,300 shares owned by his wife Mrs. Isabel Freiria.




(c)
None




(d)
Mrs. Freiria has the right to receive and the power
to direct the receipts of dividends from, or the
proceeds from the sale of 21,300 shares.



       Identity and Background

     (a)
Isabel Freiria

     (b)
Magdalena 1362
Cond. Plaza Estela 1504
San Juan, Puerto Rico




      (c)
Present principle occupation:  Housewife




      (d)
No




      (e)
No




      (f)
Citizen of the United States






ITEM 6:
Contracts, Arrangements, Understandings or
Relationships with Respect to the Securities of the
Issuer
None.
ITEM 7. Material to be filed as Exhibits
None.
Signature
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in
this statement is true, complete and correct.



Date:

May 15, 2008



Signature:

/s/ Angel Alvarez-Perez



Name

Angel Alvarez-Perez,



Title:

Shareholder.
The original statement shall be signed by each person on
whose behalf the statement is filed or his authorized
representative. If the statement is signed on behalf of a
person by his authorized representative (other than an
executive officer or general partner of the filing person),
evidence of the representative's authority to sign on
behalf of such person shall be filed with the statement:
Provided, however, That a power of attorney for this
purpose which is already on file with the Commission may be
incorporated by reference. The name and any title of each
person who signs the statement shall be typed or printed
beneath his signature.
Attention: Intentional misstatements or omissions of fact
constitute Federal criminal violations (SEE 18 U.S.C. 1001)




  Reflects the Company?s stock split effective June 30, 2005.




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