First BanCorp Consolidated Statements of Changes in Stockholders’ Equity December 31, 1998 90,000,000 $29,499,552 $23,575,936 $30,000,000 $53,454,469 $125,088,180 $8,749,931  Net income  62,074,949 Other comprehensive income (77,398,890 Issuance of preferred stock $90,000,000 (3,149,783 Addition to legal surplus 73,338,045 (73,338,045 Addition to capital reserve 10,000,000 (10,000,000 Treasury stock acquired (1,452,000 (726,000 (30,332,611 Stock options exercised 13,000 163,313 Cash dividends: Common stock (10,382,797 Preferred stock  (4,275,000 December 31, 1999 90,000,000 28,060,552 19,863,466 40,000,000 126,792,514 58,834,676 (68,648,959 Net income  67,275,609 Other comprehensive income  49,050,174 Issuance of preferred stock 75,000,000 (2,562,500 Addition to capital reserve 10,000,000 (10,000,000 Treasury stock acquired (1,642,400 (821,200 (27,622,992 Stock options exercised 6,000 87,750 Cash dividends: Common stock (11,804,599 Preferred stock  (7,407,542 December 31, 2000 165,000,000 26,424,152 16,567,516 50,000,000 126,792,514 69,275,152 (19,598,785 Net income  86,001,444 Other comprehensive income 13,305,431 Issuance of preferred stock 103,500,000 (3,430,750 Addition to legal surplus 10,000,000 (10,000,000 Addition to capital reserve 10,000,000 (10,000,000 Treasury stock acquired (86,200 (43,100 (1,800,385 Stock options exercised 234,000 1,121,211 Cash dividends: Common stock (13,835,100 Preferred stock  (16,508,198  December 31, 2001 $268,500,000 $26,571,952 $14,214,877 $60,000,000 $136,792,514 $103,132,913 $(6,293,354 Unrealized gain (loss) on Additional securities Preferred Common paid-in Capital Legal Retained available stock stock capital reserve surplus earnings for sale  ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) 0 51 First BanCorp.> 2001 The accompanying notes are an integral part of these statements.