FIRST BANCORP INFORMATION SHARING AND PRIVACY POLICY

At First BanCorp, we strive to protect the privacy of our customers and of consumers, including those that visit our website. This notice, about our compromise is provided to all of our individual customers who receive our services. It includes the information we collect, with whom we share it with, our security process and your rights as our customers. In addition we instruct you how to limit the sharing of your non public personal information, either with our affiliates or with third party non affiliates. If there are any changes regarding this notice such will be informed to you as required by law.

Information we collect and which we can disclose:

We collect nonpublic information about you from the following sources:

• information we receive from you on applications or other forms such as your name, address, social security number, assets and income.
• information about your transactions with us, our affiliates, or others such as your account balance, payment history and credit card usage; and
• information from a consumer reporting agency such as creditworthiness and credit history.

We limit the collection and use of your information to that which is necessary to administer our business, provide superior service and offer opportunities that we understand will be of your interest. If you should identify any incorrect personal information which needs any change, contact our offices in order for us to maintain our records accurate and complete. Thus, we use your information for the following purposes:

• identify and protect your account(s) and guard against unauthorized access to funds or information;
• identify additional products and services that may help meet your need(s) or result in added savings or convenience for you; and
• help us identify and mitigate any potential risks or losses.

To whom we disclose your information:

First BanCorp aims to benefit its customers by combining a full range of expertise and resources represented by our affiliates which include FirstBank Puerto Rico; First Leasing and Rental Corporation; First Federal Finance Corporation d/b/a Money Express “La Financiera” and d/b/a Prestamás; FirstBank Insurance Agency, Inc.; FirstMortgage Inc.; Grupo Empresas Servicio Financiero d/b/a Puerto Rico Finance; FirstBank Overseas Corp.; First Insurance Agency, Inc.; First Trade, Inc.; First Express, Inc.; Ponce General Corporation; and FirstBank Florida. We are permitted by law to share information about our transactions and experiences with you or your account, such as your account balance and your payment history, with our affiliates listed above. By sharing and consolidating customer information within our affiliates we can deliver personalized service through a long-term relationship approach. This will often result in less paperwork during the application process. It also improves your ability to access your account information.

The law permits our institution to share your non public personal information with qualified non-affiliated third parties in the following categories: financial service providers such as broker dealers; non-financial companies such as retailers and publishers; and marketing companies among others. First BanCorp. cautiously selects reputable companies and/or financial institutions that will provide our institution with additional support services pursuant to contractual agreement. These non-affiliated third parties must adhere to First BanCorp.’s strict confidentiality and security requirements which prohibit them from disclosing or using the information other than to carry out the purposes of the contractual agreement.

As a standard banking industry practice and in accordance with the Fair Credit Reporting Act, we share customer information with reputable information reporting agencies. We may also disclose your nonpublic personal information to other nonaffiliated third parties as permitted by law. If you decide to close your account(s) or become an inactive customer, we will adhere to the information sharing and privacy policies as described in this notice.

Our Security Procedures:

We restrict access to nonpublic personal information about you to those employees who need to know the information in order to provide you with products or services, or to who may need it to comply with any federal or local regulation. All our employees and others hired to work for us are held accountable for complying with our strict policies and procedures to prevent any misuse of your information. We maintain physical, electronic and procedural safeguards that comply with federal standards to guard your nonpublic personal information. Our operational and data processing take place in a secure environment that protects customer information from being accessed inappropriately by third parties.

Consumer Rights:

If you prefer that we do not disclose nonpublic personal information about you to our affiliates (other than information solely as to your transactions or our experiences with you); or nonpublic personal information about you to nonaffiliated third parties; and to limit our affiliates from marketing their products or services to you based on information that we share with them through phone calls, electronic mail and/or postal mail, please fill out and send the form in this brochure to the following address: FirstBank Florida, Opt Out Notices, 9795 South Dixie Highway, Miami, Florida 33156, or you may call us at (305) 740-9522 or toll free at 1-866-456-BANK.

If you have received this notice as a joint account holder you may opt-out on your behalf, on behalf of your joint account holder or on behalf of both. This Information about Sharing and Privacy Policy, updates and replaces any other notices about our privacy policy. This notice is provided on behalf of all First BanCorp’s affiliates and subsidiaries as before mentioned.

If you do not want us to share your information, please print the printable version and follow the instructions included in said version:

Printable Version

08/2008