FORM 4

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549


o Check box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).		STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940


1. Name and Address of Reporting Person⁽¹⁾ CABRERA LUIS M.	2. Issuer Name and Ticker or Trading Symbol FIRST BANCORP (FBP)		6. Relationship of Reporting Person to Issuer (Check all applicable)

(Last) (First) (Middle) BAMBOO L-7 TORRIMAR ALTO	3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)	4. Statement For Month/Year August 2002	o Director x Officer (give title below) Senior Vice President	o 10% Owner o Other (Specify below)
(Street)	###-##-####	5. If Amendment, Date of Original (Month/Year)	7. Individual or Joint/Group Filing (Check applicable line)
		N/A	x Form Filed by One Reporting Person
GUAYNABO PR 00966			o Form Filed by More Than One Reporting Person
(City) (State) (Zip)

TABLE I — NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED

1. Title of Security
(Instr. 3)

2. Transaction
Date
(Month/ Day/
Year)

3. Transaction Code
(Instr. 8)

4. Securities Acquired (A) or Disposed of (D)

5. Amount of
Securities
Beneficially Owned
at End of Month
(Instr. 3 and 4)

6. Ownership
Form:
Direct (D)
or
Indirect (I)
(Instr. 4)

7. Nature
of Indirect
Beneficial
Ownership
(Instr. 4)

(Instr. 3, 4 and 5)

Code

Amount

(A) or
(D)

Price

First Bancorp’s
Common Stock

8/8/02

2,000

$39

First Bancorp’s
Common Stock

8/8/02

2,000

$39

First Bancorp’s
Common Stock

8/8/02

2,000

$39

N/A

First Bancorp’s
Common Stock

8/8/02

2,000

$39

First Bancorp’s
Common Stock

8/8/02

1,000

$39

First Bancorp’s
Common Stock

8/8/02

1,000

$39

FORM 4 (continued)

Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned

(e.g., Puts, Calls, Warrants, Options, Convertible Securities)

6. Date

1. Title of
Derivative
Security

(Instr. 3)

2. Conversion
or Exercise
Price of
Derivative
Security

3. Transac-
tion Date
(Month/
Day/Year)

4. Transac-
tion Code

(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4,
and 5)

Exercisable
and Expira- tion
Date
(Month/Day/ Year)

7. Title and
Amount of
Underlying
Securities

(Instr. 3 and 4)

8. Price of
Derivative
Security

(Instr. 5)

9. Number of
Derivative
Securities
Beneficially
Owned at
End of
Month

(Instr. 4)

10. Ownership
Form of
Derivative
Security:
Direct (D)
or
Indirect (I)

(Instr. 4)

11. Nature of
Indirect
Beneficial
Ownership

(Instr. 4)

Date
Exercis-
able

Expira-
tion
Date

Title

Amount or
Number of
Shares

Code

(A)

(D)

Explanation of Responses:


	/s/ Luis M. Cabrera	8/16/02

	Signature of Reporting Person ⁽¹⁾	Date

⁽¹⁾ Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note. File three copies of this form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.
(Print or Type Responses) Page 2

CABRERA LUIS M 4