Long-time Bankers Association executive VP retires
May 6, 2015
Arturo Carrión, who for the last 29 years served as executive vice president of the Puerto Rico Bankers Association, is retiring from his post on June 30, when he will be succeeded by Zoimé Álvarez-Rubio, trade group President José Rafael-Fernández announced Tuesday.
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First BanCorp reports $25.6M in 1Q15 net income
May 5, 2015
First BanCorp., the bank holding company for FirstBank Puerto Rico on Monday reported net income of $25.6 million for the first quarter of 2015, or $0.12 per diluted share, compared to $330.8 million, or $1.56 per diluted share, for the fourth quarter of 2014 and $17.1 million, or $0.08 per diluted share, for the first quarter of 2014.
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FDIC terminates First BanCorp.’s Consent Order
May 1, 2015
Nearly five years after falling under the Federal Deposit Insurance Corp.’s watch, First BanCorp, parent company of FirstBank Puerto Rico, announced Thursday the regulator has terminated the Consent Order under which it had been operating since June 2, 2010.
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Bankers ‘frustrated,’ monitoring gov’t solutions to crisis
April 28, 2015
The heads of the island’s two largest banks took turns in recent days expressing their concerns about the current fiscal scenario and whether political leaders are willing to make the right decisions to put Puerto Rico’s economy back on track.
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Popular reviewing Doral’s social responsibility programs
March 16, 2015
Two weeks after picking up the majority of the assets of the failed Doral Bank, Popular Inc. is reviewing the six corporate social responsibility programs the former institution had going, which benefited hundreds of Puerto Rico residents over the years.
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First BanCorp. reverses asset valuation results for 4Q14
March 13, 2015
First BanCorp., the bank holding company for FirstBank Puerto Rico, announced Thursday the reversal of a significant portion of the valuation allowance recorded against the deferred tax assets of its subsidiary bank, FirstBank.
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Doral Financial Corp. files for Ch. 11 bankruptcy
March 12, 2015
Less than two weeks after the Federal Deposit Insurance Corp. ordered the closing of its banking arm, Doral Financial Corp. announced Wednesday that it has filed for chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York.
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Popular to manage $5B in former Doral Bank loans
March 3, 2015
Popular Inc., which on Friday picked up the lion’s share of Doral Bank’s assets, announced Monday it won its bid to also take over the mortgage servicing rights on three pools of residential mortgage loans serviced for Ginnie Mae, Fannie Mae and Freddie Mac held by the shuttered bank.
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FDIC, OCIF order closing of Puerto Rico’s Doral Bank
February 27, 2015
Following weeks and months of speculation about its fate, the Puerto Rico Office of the Commissioner of Financial Institutions and the Federal Deposit Insurance Corporation, announced Friday the closing of Doral Bank’s local and stateside operations.
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FDIC, Court deliver twin blows to ailing Doral Bank
February 26, 2015
Doral Bank was on the receiving end of major blows by the Federal Deposit Insurance Corp. and the Appellate Court Wednesday, just before it's time as a member of Puerto Rico’s financial community could come to an end.
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Popular’s small business loan activity at $280M in ’14
February 11, 2015
Banco Popular officials said Tuesday commercial lending activity for Puerto Rico’s small and mid-sized business segment reached $280 million in 2014, a 25 percent year-over-year increase that shows “an encouraging picture.”
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First BanCorp. reports net income of $26.3M for 4Q14
February 6, 2015
First BanCorp., the bank holding company for FirstBank Puerto Rico, on Thursday reported net income of $26.3 million for the fourth quarter of 2014, or $0.12 per diluted share, compared to $23.2 million, or $0.11 per diluted share, for the third quarter of 2014 and $14.8 million, or $0.07 per diluted share, for the fourth quarter of 2013.
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FDIC advises Doral to accept buyout offers from rivals
January 29, 2015
In a letter sent to Doral Bank earlier this week, the Federal Deposit Insurance Corp. advised the financially crippled bank to “accept an offer to combine with another insured depositary institution,” or improve its capital levels to once again be considered as “adequately capitalized.”
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Popular Inc. earns $52.9M in 4Q14, banks on recovery
January 23, 2015
Popular Inc. reported net income of $52.9 million for the quarter ended Dec. 31, 2014 on Thursday, when CEO Richard Carrión told analysts that the bank’s “strong market position, significant liquidity, excess capital levels and internal capital generation will continue to be key to our future performance.”
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Puerto Rico banks announce Martin Luther King hours
January 19, 2015
Puerto Rico’s commercial banks will be observing today’s Martin Luther King holiday with special hours, scheduled as follows:
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