Doral gets $181.3M cash boost from asset sale
January 16, 2015
Doral Bank, a wholly owned subsidiary of Doral Financial Corporation, announced Thursday the completion of the sale of of certain loans, advances, mortgages, and loan participation rights to WOMF REV, LLC, which will shore up $181.3 million in cash for the troubled financial institution.
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FDIC rejects Doral’s revised capital restoration plan
January 13, 2015
Doral Financial Corp. told the Securities and Exchange Commission Monday that the revised capital restoration plan submitted to the Federal Deposit Insurance Corp. last week was rejected for failing to “meet the criteria.”
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Study: Banking clients ‘more satisfied’ with credit unions
December 10, 2014
Tired of ATM fees, overdraft penalties, charges for checking account maintenance, among other service expenses, customers are tilting more toward credit unions over commercial banks, the most recent report by the American Customer Satisfaction Index, overseen in Puerto Rico by Anderson Research International, concluded.
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Fitch affirms ratings for Puerto Rico banks after review
December 5, 2014
Fitch Ratings announced Thursday it completed a peer review of three rated Puerto Rican banks, and affirmed the long-term “Issuer Default Ratings” for Doral Financial Corp. at 'C' and Popular Inc. at 'BB-' and First BanCorp at 'B-.'
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‘The Banker’ names Banco Popular ‘Bank of the Year’
December 3, 2014
Popular Inc. announced Tuesday its banking subsidiary, Banco Popular de Puerto Rico, received the prestigious “Bank of the Year Puerto Rico for 2014” award from The Banker, an international banking magazine published by The Financial Times.
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Oriental rings NYSE closing bell to mark milestones
October 31, 2014
José Rafael Fernández, president of OFG Bancorp and its subsidiary, Oriental Bank, headed a delegation of company employees and clients, to ring the closing Bell of the New York Stock Exchange Thursday, celebrating the bank’s 50th anniversary and the 20th anniversary of OFG Bancorp’s exchange listing.
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FirstBank reports $23.2M in 3Q14 net income
October 28, 2014
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported Monday net income of $23.2 million for the third quarter of 2014, or $0.11 per diluted share, compared to $15.9 million, or $0.08 per diluted share, for the third quarter of 2013.
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Popular Inc.’s 3Q net income drops 72% year-over-year
October 23, 2014
Popular Inc. reported Wednesday net income of $62.6 million for the third quarter ended Sept. 30, which represents a 72 percent drop when compared to the $229.1 million reported for the same year-ago period.
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Doral reps urge gov’t to honor tax agreement
October 14, 2014
On the heels of its legal victory last week, Doral Financial Corp.’s Economic Advisor Robert Shapiro on Monday urged the government of Puerto Rico to honor the tax agreement upheld by a local court, “for the sake of its credibility.”
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FDIC: Doral ‘significantly undercapitalized;’ stock plunges
October 2, 2014
Doral Financial Corp.’s stock plunged nearly 25 percent Wednesday after disclosing it had received a warning by Federal Deposit Insurance Corp. that it falls within its “significantly undercapitalized” category.
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Popular Inc. announces new president, executive VP
September 30, 2014
Popular Inc. announced Monday a pair of appointees to its top ranks, namely Ignacio Álvarez as president and COO, and former Government Development Bank President Javier D. Ferrer as executive vice president, general counsel and chief legal officer for Puerto Rico’s largest financial institution.
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Oriental banks on communities to spur economic growth
September 26, 2014
As part of its 50th anniversary celebration, Oriental Bank unveiled Thursday its new corporate social responsibility platform dubbed “Social Innovation,” which pursues empowering communities to embark on entrepreneurship and economic growth.
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Popular Community Bank closes sale of Fla. operations
September 16, 2014
Popular Inc. announced Monday that Popular Community Bank, its U.S. banking subsidiary, completed the previously announced sale of its Central Florida regional operations to Harbor Community Bank, a wholly owned subsidiary of HCBF Holding Company Inc.
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Ana Botín to chair Banco Santander after father dies
September 11, 2014
The board of directors of Banco Santander unanimously agreed Wednesday to appoint Ana Botín as its chair, following the sudden death of her father, Emilio Botín, who during his tenure steered the Spanish bank into one of the most relevant financial institutions in the world.
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Doral Financial Corp. sells $430M in assets to Barclays
September 10, 2014
Doral Financial Corporation, the financial services holding company of Doral Bank, with operations in Puerto Rico and the U.S. mainland, announced Tuesday the sale of some $430 million in assets to Barclays Inc.
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