The regulatory capital positions of the Corporation and FirstBank as of September 30, 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 September 30, 2020

Total Capital (to

Risk-Weighted Assets)

First BanCorp.

$

2,358,608

20.32%

$

928,727

8.0%

N/A

FirstBank

$

2,300,760

19.83%

$

928,372

8.0%

$

1,160,465

10.0%

CET1 Capital

(to Risk-Weighted Assets)

First BanCorp.

$

1,998,067

17.21%

$

522,409

4.5%

N/A

FirstBank

$

1,846,628

15.91%

$

522,209

4.5%

$

754,302

6.5%

Tier I Capital (to

Risk-Weighted Assets)

First BanCorp.

$

2,034,171

17.52%

$

696,545

6.0%

N/A

FirstBank

$

2,154,628

18.57%

$

696,279

6.0%

$

928,372

8.0%

Leverage ratio

First BanCorp.

$

2,034,171

13.04%

$

623,885

4.0%

N/A

FirstBank

$

2,154,628

13.83%

$

623,378

4.0%

$

779,223

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%

CET1 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%