FirstBank has a defined contribution retirement plan (the Plan) qualified under the provisions of the Puerto Rico Internal Revenue Code Section 1165(e). All employees are eligible to participate in the Plan after one year of service. Under the provisions of the Plan, the Bank contributes a quar- ter of the first 4% of each participant’s compensation. Participants are per- mitted to contribute up to 10% of their annual compensation, limited to $8,000 per year. Additional contributions to the Plan are voluntarily made by the Bank as determined by its Board of Directors. The Bank made a total contribution of $845,227, $699,060 and $625,375 during 2001, 2000 and 1999, respectively, to the Plan. Note 23- Employees’ Benefit Plan >. Note 24 - Other Expenses >. A detail of other expenses follows: The Corporation is subject to Puerto Rico income tax on its income from all sources. For United States income tax purposes, the Corporation is treated as a foreign corporation. Accordingly, it is generally subject to United States income tax only on its income from sources within the United States or income effectively connected with the conduct of a trade or business within the United States. Any United States income tax paid by the Corporation is creditable, within certain conditions and limitations, as a foreign tax credit against its Puerto Rico tax liability. The provision for income taxes was as follows: Income tax expense applicable to income before provision for income tax differs from the amount computed by applying the Puerto Rico statutory rate of 39% as follows: Year ended December 31, 2001 2000 1999 (In thousands) Current $25,536 $19,117 $13,991 Deferred (5,402 (4,356 (6,703 Total $20,134 $14,761 $ 7,288 ) ) ) Year ended December 31, 2001 2000 1999 % of % of % of pre-tax pre-tax pre-tax Amount income Amount income Amount  income (Dollars in thousands) Computed income tax at statutory rate $41,789 39 $31,994 39 $27,052 39 Benefit of net exempt income (24,442 (23 (12,707 (15 (13,959 (20 Other-net 2,787 3 (4,526 (6 (5,805 (8 Total income tax provision $20,134 19 $14,761 18 $ 7,288 11 ) ) ) ) ) ) ) ) ) ) Year ended December 31, 2001 2000 1999 (In thousands) Professional and service fees $ 7,931 $ 8,740 $ 6,672 Advertising and business promotion 7,506 8,468 5,896 Communications 5,395 5,573 4,667 Revenue earning equipment 1,578 1,525 1,479  Supplies and printing 1,282 1,214 1,361 Other 8,559 7,423 5,426 Total $32,251 $32,943 $25,501 Note 25 - Income Taxes  >. 0 71 First BanCorp.> 2001