The regulatory capital positions of the Corporation and FirstBank as of March 31, 2020, which reflects the delay in the effect of CECL on regulatory capital, and December 31, 2019 were as follows:

Regulatory Requirements

Actual

For Capital Adequacy Purposes

To be Well-Capitalized Thresholds

Amount

Ratio

Amount

Ratio

Amount

Ratio

(Dollars in thousands)

As of March 31, 2020

Total Capital (to

Risk-Weighted Assets)

First BanCorp.

$

2,305,042

25.42%

$

725,557

8.0%

N/A

FirstBank

$

2,259,012

24.91%

$

725,384

8.0%

$

906,730

10.0%

Common Equity Tier 1 Capital

(to Risk-Weighted Assets)

First BanCorp.

$

1,976,105

21.79%

$

408,126

4.5%

N/A

FirstBank

$

1,836,831

20.26%

$

408,029

4.5%

$

589,375

6.5%

Tier I Capital (to

Risk-Weighted Assets)

First BanCorp.

$

2,012,209

22.19%

$

544,168

6.0%

N/A

FirstBank

$

2,144,831

23.65%

$

544,038

6.0%

$

725,384

8.0%

Leverage ratio

First BanCorp.

$

2,012,209

15.98%

$

503,686

4.0%

N/A

FirstBank

$

2,144,831

17.05%

$

503,138

4.0%

$

628,923

5.0%

As of December 31, 2019

Total Capital (to

Risk-Weighted Assets)

First BanCorp.

$

2,286,337

25.22%

$

725,236

8.0%

N/A

FirstBank

$

2,242,262

24.74%

$

725,047

8.0%

$

906,309

10.0%

Common Equity Tier 1 Capital

(to Risk-Weighted Assets)

First BanCorp.

$

1,957,887

21.60%

$

407,946

4.5%

N/A

FirstBank

$

1,820,571

20.09%

$

407,839

4.5%

$

589,101

6.5%

Tier I Capital (to

Risk-Weighted Assets)

First BanCorp.

$

1,993,991

22.00%

$

543,927

6.0%

N/A

FirstBank

$

2,128,571

23.49%

$

543,785

6.0%

$

725,047

8.0%

Leverage ratio

First BanCorp.

$

1,993,991

16.15%

$

493,786

4.0%

N/A

FirstBank

$

2,128,571

17.26%

$

493,242

4.0%

$

616,552

5.0%