0 48 First BanCorp.> 2001 December 31, 2001 2000  Assets Cash and due from banks $ 59,898,550  $ 63,372,591  Money market instruments  34,564,568 2,020,348 Investment securities available for sale, at market: Securities pledged that can be repledged  2,988,828,088 1,621,457,451 Other investment securities 385,419,989 280,205,723 Total investment securities available for sale 3,374,248,077 1,901,663,174  Investment securities held to maturity, at cost: Securities pledged that can be repledged  171,152,930 268,432,581 Other investment securities  113,142,662 42,562,921 Total investment securities held to maturity  284,295,592 310,995,502  Federal Home Loan Bank (FHLB) stock 22,890,600 18,536,500 Loans held for sale 4,629,562 Loans receivable 4,304,150,143 3,498,198,207 Total loans 4,308,779,705 3,498,198,207 Allowance for loan losses (91,060,307 (76,918,973 Total loans - net 4,217,719,398 3,421,279,234 Other real estate owned 1,455,577 2,981,472 Premises and equipment - net 76,155,620 72,087,346 Accrued interest receivable 37,630,883 27,969,551 Due from customers on acceptances  262,153 2,177,043 Other assets 88,396,770 96,573,820 Total assets $8,197,517,788 $5,919,656,581 Liabilities and Stockholders’ Equity Liabilities: Non-interest bearing deposits  $ 239,850,816 $ 232,164,469 Interest bearing deposits  3,858,703,322 3,113,819,927 Federal funds purchased and securities sold under agreements to repurchase 2,997,173,944 1,856,436,127 Advances from FHLB 343,700,000 67,000,000 Notes payable 55,500,000 Bank acceptances outstanding 262,153 2,177,043 Accounts payable and other liabilities 70,547,126 67,550,152 7,510,237,361 5,394,647,718 Subordinated notes 84,361,525 90,548,314 Stockholders’ equity: Preferred stock 268,500,000 165,000,000 Common stock 29,852,552 29,618,552 Less:Treasury stock (at par value) (3,280,600 (3,194,400 Common stock outstanding  26,571,952 26,424,152 Additional paid-in capital 14,214,877 16,567,516 Capital reserve 60,000,000 50,000,000 Legal surplus 136,792,514 126,792,514 Retained earnings 103,132,913 69,275,152 Accumulated other comprehensive income - unrealized  loss on securities available for sale, net of tax of  $2,097,785 (2000-$6,532,928) (6,293,354 (19,598,785 602,918,902 434,460,549 Contingencies and commitments Total liabilities and stockholders’ equity $ 8,197,517,788 $ 5,919,656,581 ) ) ) ) ) ) The accompanying notes are an integral part of these statements. First BanCorp Consolidated Statements of Financial Condition