Oriental reports $34.1M in 2Q ’13 income
July 23, 2013
OFG Bancorp, parent company of Oriental Bank, reported second quarter results Monday that reflected $34.1 million in income available to common shareholders, or $0.68 per share diluted, compared to $13.8 million, or $0.34 per share, in the second quarter of 2012, and $17.7 million, or $0.37 per share, in the first quarter of 2013.
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Moneyhouse after ‘underserved’ U.S. Hispanic population
July 22, 2013
Moneyhouse, a Puerto Rico-based private equity lender and frontrunner in reverse mortgage closings, is awaiting approval for licenses to operate in California and Illinois to continue its stateside expansion, company officials said.
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Popular Inc. reports $328M in 2Q net income
July 19, 2013
Buoyed by a triple-play of significant transactions, Popular Inc., Banco Popular de Puerto Rico's parent company, reported net income of $327.5 million for the quarter ended June 30, 2013, compared to a net loss of $120.3 million for the quarter ended March 31, 2013.
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Santander shuffles top leadership, appoints new Puerto Rico head
July 17, 2013
Banco Santander Puerto Rico announced Tuesday the appointment of Román Blanco, who less than a year ago took over the reins of the island’s operations, as CEO of Santander Holdings USA and Sovereign Bank.
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Puerto Rico banks announce holiday schedule
July 15, 2013
Puerto Rico’s major banks announced their schedules for today’s Luis Muñoz Rivera holiday, some offering shorter service hours.
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Banco Popular Puerto Rico sells $438M in bad residential loans
July 2, 2013
Banco Popular de Puerto Rico officials announced Monday the completion of the previously announced sale of a portfolio of non-performing residential mortgage loans with a book value and unpaid principal balance of approximately $438 million and $511 million, respectively. The all-cash transaction will reduce Popular’s non-performing residential mortgage loans by approximately 73 percent and total […]
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Doral announces 1-for-20 reverse stock split
June 25, 2013
Doral Financial Corporation today announced a 1-for-20 reverse stock split of its common stock that will be effective June 28, at 4 p.m.
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First BanCorp sells $223M of non-performing residential mortgage loans, OREO
June 21, 2013
First BanCorp, the parent company of FirstBank Puerto Rico, announced today it has completed a sale of non-performing residential mortgage loans with an unpaid principal balance of $236.6 million (book value of $203.6 million), as well as other real estate owned (“OREO”) properties with an appraised value of $22.3 million (book value $19.2 million).
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Doral’s ‘Ruta Mujeres d Éxito’ returns this summer
May 31, 2013
Doral Bank announced Thursday the return of its “Ruta Mujeres d Éxito” educational initiative that supports professional and entrepreneurial women free of charge. The events will take place on Saturdays, June 8, 15, 22 and 29 at Doral’s Mayagüez, Ponce Town Center, Río Grande and San Juan (Roosevelt Avenue) branches from 9 a.m. to 2 p.m.
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FirstBank launches ‘Smart Cash,’ ‘Smart Check’ services
May 23, 2013
FirstBank’s commercial clients now have an additional tool to conduct their transactions remotely, with the availability of new “Smart Cash” and “Smart Check” services, unveiled Wednesday. Available to small and medium businesses, as well as corporate clients, these new products expand the bank’s reach to all geographic areas.
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First BanCorp taking $66.6M charge on Lehman collateral
May 14, 2013
First BanCorp on Monday announced the U.S. Bankruptcy Court for the Southern District of New York denied the bank’s motion for summary judgment filed in connection to $66.6 million it had posted as collateral with Lehman Brothers Inc., which filed for Ch. 11 nearly five years ago.
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FirstBank unveils brand ‘evolution’ campaign
May 9, 2013
“Emotions” — or the transformation of a frame of mind, typically accompanied by physiological and behavioral changes in the individual — is the title of FirstBank’s new brand campaign, representing the evolution of its previous institutional efforts.
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Evertec reports $27.5M in 1Q13 adjusted net income
May 7, 2013
Transaction processing firm Evertec Inc. announced $27.5 million in adjusted net income, or a 37 percent year-over-year increase, for the first quarter ended March 31, during which it completed two key transactions: an initial public offering and debt refinancing in April.
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Popular grants $2.5M for eco-friendly medical facility in Rincón
April 30, 2013
Banco Popular de Puerto Rico recently approved $2.5 million in financing to Rincón Health Center Inc. for the construction of the Costa Salud community health center in the western municipality of Rincón.
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OFG Bancorp reports $17.7M in 1Q13 income
April 26, 2013
OFG Bancorp, which until earlier this week was known as Oriental Financial Group Inc., revealed its first quarter results Thursday, which reflected income of $17.7 million for the three-month period, up from the $9.5 million reported for the same year-ago quarter.
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