First BanCorp (FBP) in San Juan, Puerto Rico, is delaying its annual filing because of issues with disclosure requirements.

The $13 billion-asset company said it expects to file its Form 10-K with the Securities and Exchange Commission by April 1. The company said there was a delay because the SEC is requiring it to first file audited financial statements for a joint venture formed in February 2011. The entity, which includes Goldman Sachs (GS) and another group, enabled First BanCorp to shed roughly $250 million in nonperforming loans.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.