---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-002536"
form_type: "8-K"
ticker: "FBP"
cik: "0001057706"
company_name: "FIRST BANCORP /PR/"
filed_at: "2025-01-31T23:59:59+00:00"
generated_at: "2026-05-27T04:31:45.785240+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# First BanCorp reorganizes; two EVPs retiring, new Chief Consumer Officer named

## Summary
- Cassan Pancham (EVP, Business Group Executive) retires May 15, 2025; oversees Mortgage, Insurance, Eastern Caribbean.
- Carlos Power (EVP, Business Group Executive) retires May 2, 2025; oversees Unsecured Consumer Lending, Auto, Leasing.
- Nayda Rivera promoted to EVP & Chief Consumer Officer effective April 1, 2025; also named Corporate Chief of Staff.
- Sara Alvarez adds Regulatory Compliance and BSA oversight; Juan Carlos Pavia adds Portfolio Risk Management.
- Myrna Rivera appointed SVP Division Director and Chief Risk Officer, reporting to CFO and Risk Committee.

## SEC filing metadata
- accession: 0001140361-25-002536
- form_type: 8-K
- ticker: FBP
- cik: 0001057706
- company_name: FIRST BANCORP /PR/
- filed_at: 2025-01-31T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1057706/000114036125002536/0001140361-25-002536-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1057706/000114036125002536/ef20042639_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-002536
- JSON: https://secwatch.observer/filing/0001140361-25-002536.json
- Plain text: https://secwatch.observer/filing/0001140361-25-002536.txt

## Key facts
- Executive change
  Cassan Pancham departed as Executive Vice President and Business Group Executive at FIRST BANCORP /PR/.
  - Action: retire
  - Role: Executive Vice President and Business Group Executive
  source text: Cassan Pancham, Executive Vice President and Business Group Executive, will retire from his position at the Corporation effective May 15, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1057706/000114036125002536/0001140361-25-002536-index.htm
- Executive change
  Nayda Rivera changed role as Chief Consumer Officer and Corporate Chief of Staff at FIRST BANCORP /PR/.
  - Action: promoted
  - Role: Chief Consumer Officer and Corporate Chief of Staff
  source text: Nayda Rivera, Executive Vice President and Chief Risk Officer, will be promoted to Chief Consumer Officer and Corporate Chief of Staff effective April 1, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1057706/000114036125002536/0001140361-25-002536-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.