UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ________)*
FIRST BANCORP PUERTO RICO
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
318672 102
(CUSIP Number)
Antonio R. Escriba. P. O. Box 9146, Santurce, P. R. 00908-0146,
Phone: 787-729-8140
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and communications)
OCTOBER 1, 1998
(Date of Event Which Require Filing of this Statement)
Of the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1 (b)(3) or (4), check the following box.
Check the following box if a fee is being paid with the statement . A fee is not
required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Intem1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class).
(See rule 13d-7)
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See rule 13d-1(a) for other parties to who 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).
<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CUSIP NO18672 10 2 PAGE _____OF_______PAGES
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ANGEL ALVAREZ-PEREZ (###-##-####)
P. O. BOX
SAN JUAN, P. R. 00908
2. CHECK THE APPROPRIATE BOX IF A MEMBER
(a) D112
(b) D112
Filing as an Individual
3. SEC USE ONLY
4. SOURCE OF FUNDS* : PF
Shares beneficially owned have ben acquired with personal funds.
5 CHECK BOX 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 BENEFICALLY OWNED BY EACH REPORTING PERSON WITH
7. SOLE VOTING POWER 2,125, 206
8. SHARED VOTING POWER NONE
9. SOLE DISPOSITIVE POWER 2,125,206
10. SHARED DISPOSITIVE POWER NONE
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,125,206
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
*Amount reported in row 11 does not include 51,972. Shares held in
trust for Mr. Alvarez' Perez' children but over which he holds sole
voting and disposition right.
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.18% *not including
51,972 (see 12 above).
14. TYPE OF REPORTING PERSON *
Individual
<PAGE>
SCHEDULED 13D STATEMENT
Acquisition Statement Under Section 13(d) of the Securities Exchange Act of 1934
CUSIP NO. 318672 102 Angel Alvarez-Perez
Name and Address of Issuing Bank : FirstBanCorp Puerto Rico
1519 Ponce de Leon Ave.
Santurce, P. R. 00908
Title and Class of Securities : $1.00 per value Common Stock
Name and address and telephone Mr. Antonio R. Escriba
Number of person authorized to P. O. Box 9146
receive notices and communications : Santurce, PR 00908-0146
Date of event which requires filing
of this statement : 10/1/98
Item 1: Common Stock Par Value $1.00 per share. First BanCorp.
NYSE/FBP 1519 Ponce de Leon Ave. Santurce, P.R., 00908. First
BanCorp. is a bank holding company organized effective October
1, 1998. The common stock of First BanCorp was formerly listed
as FirstBank, P.R. Total number of issued and outstanding
shares of common stock of First BanCorp as of October 1, 1998
was 29,599,552. There are no other kind of equitiy shares
issued or outstanding.
Item 2: (a) Angel Alvarez-Perez
SS # ###-##-####
(b) P.O Box 9146
Santurce, P.R. 00908-0146
(c) President & CEO of First BanCorp 1519 Ponce de Leon Ave.
Santurce P.R., and President & CEO of FirstBank Puerto
Rico., 1519 Ponce de Leon Ave., Santurce P.R. 00908.
(d) No
(e) No
(f) Citizen of the United States
Item 3: Personal funds. Common Stock of issuer beneficially held by
Angel Alvarez Perez has been acquired from time to time with
personal funds.
Item 4: Purpose of the Transaction: This report does not result from a
transaction wherein Angel Alvarez-Perez has acquired any additonal
shares of stock . The report results from the transaction wherein
FirstBank Puerto Rico has merged into and become a wholly owned
subsidiary of FirstBanCorp, a bankholding company and each share of
FirstBank's common stock converted into a share of common stock of
First BanCorp, which became effective on October 1, 1998. Prior to
this merger transaction reports had been filed with the Federal
Deposit Corporation.
The shares are held by Mr. Angel Alvarez-Perez for investment
purposes only.
a. At a future date Mr. Angel Alvarez-Perez may acquire additional
shares of the stock through the exercise of previously granted
unexercised stock options or he may purchase additional shares in
the open market or private purchases. Presently Mr. Alvarez Perez
holds an unexercised option to acquire 120,000 shares of stock
granted on 11/28/94 another one for 104,000 granted on 11/25/97.
one .
b. None
c. None
d. None
e. None
f. None
g. None
Item 5. Interest in Securities of Issuer:
a. Mr. Angel Alvarez-Perez is the sole owner of 2,125,210 shares of
the common stock of First BanCorp, and as trustee, exercises sole
voting and disposition power over an additional 51,972 shares held
in trust for his children. Mr. Angel Alvarez-Perez also has the
right to exercise an option to acquire 120,000 shares granted on
11/28/94 and the right to exercise another option for 104,000
granted on 11/25/97. All such options were granted to Mr. Angel
Alvarez-Perez pursuant to an existing Employee Stock Option Plan.
b. 2,125,210 Shares beneficially owned by Angel Alvarez-Perez
directly and 51,972 over which as trustee he hold sole voting and
disposition power for a total of 2, 177,606.
c. None
d. None
e. N/A
Item 6. Contracts, Arangements, Understandings, or relationships with respect
Securitites of the issuer.
None.
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 Angel Alvarez-Perez
