First BanCorp names Said Ortiz CFO; Berges to consult at $300/hr through Dec 2026

FIRST BANCORP /PR/

Berges retired as EVP/CFO; consulting with FirstBank Puerto Rico at $300/hr through Dec 31, 2026.
Said Ortiz appointed EVP/CFO effective July 1, 2026; base salary $475,000 plus annual bonus opportunity.
Berges' consulting covers financial, accounting, strategic, regulatory matters; 6-month non-compete.
Ortiz severance: 2x salary plus 2x avg bonus if terminated without cause within 2 years after change of control.

item 5.02 item 9.01

Executive movements

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Departed

Orlando Berges

Executive Vice President and Chief Financial Officer

FBP · FIRST BANCORP /PR/

Effective: 2026-06-30
Successor: Said Ortiz
Filed: July 1, 2026, 1:58 PM ET

In connection with his retirement, on June 30, 2026, Mr. Berges and FirstBank Puerto Rico, a subsidiary of the Corporation entered into a Professional Services Agreement

Appointed

Said Ortiz

Executive Vice President and Chief Financial Officer

FBP · FIRST BANCORP /PR/

Effective: 2026-07-01
Filed: July 1, 2026, 1:58 PM ET

In connection with Mr. Ortiz’s appointment as Executive Vice President and Chief Financial Officer, the Corporation entered into a one-year employment agreement (the “Agreement”) effective July 1, 2026 with Mr. Ortiz.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Orlando Berges retired as Executive Vice President and Chief Financial Officer at FIRST BANCORP /PR/.

Action: retired
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

In connection with his retirement, on June 30, 2026, Mr. Berges and FirstBank Puerto Rico, a subsidiary of the Corporation entered into a Professional Services Agreement

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Said Ortiz was appointed as Executive Vice President and Chief Financial Officer at FIRST BANCORP /PR/.

Action: appointed
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

In connection with Mr. Ortiz’s appointment as Executive Vice President and Chief Financial Officer, the Corporation entered into a one-year employment agreement (the “Agreement”) effective July 1, 2026 with Mr. Ortiz.

View on SEC.gov

FIRST BANCORP /PR/ filing history →

Source: SEC EDGAR

accession 0001140361-26-027163

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