Overdraft/NSF fee cuts save consumers $6B, banks lose revenue
May 13, 2024
Puerto Rico banks such as Banco Popular, FirstBank and Oriental Bank have moved to reduce or eliminate overdraft/NSF fees in recent years. #NewsismyBusiness
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Popular Inc. names new president and CEO
May 13, 2024
Ferrer was also named President of Popular Inc.’s two banking subsidiaries. #NewsismyBusiness
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Puerto Rico ‘outpacing, outperforming’ Banesco USA’s mainland business
April 25, 2024
Banesco USA named Maritza Abadía as the island’s only woman president of a local bank. #NewsismyBusiness
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First BanCorp. reports $73.5M in Q1 net income
April 24, 2024
The financial institution plans to continue investing in technology to improve customer-facing services as well as internal processes. #NewsismyBusiness
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Popular Inc. reports $103M in net income for Q1, down $55M Y-O-Y
April 24, 2024
The latest results include an after-tax impact of $9.1 million related to the FDIC Special Assessment in November 2023. #NewsismyBusiness
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OFG Bancorp reports $174M in core revenues in 1Q
April 19, 2024
In a call with reporters, Oriental’s CEO said because of its different strategies, its customer base increased by 3% year over year. #NewsismyBusiness
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Federal Home Loan Bank discusses membership eligibility of Puerto Rico co-ops
April 5, 2024
This clarity provided by the FHFA makes it easier for Puerto Rican cooperatives to access financial services and stability. #NewsismyBusiness
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Banesco USA reports $25.3M, $3.8B in assets for 4Q
February 23, 2024
The bank’s loan growth was driven largely by its commercial banking clients throughout the communities it serves in South Florida and Puerto Rico. #NewsismyBusiness
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Popular Inc. reports $541M in net income in 2023, $94.6M in 4Q
January 26, 2024
Popular Inc. CEO Ignacio Álvarez confirmed that the Apple Pay service will finally become available in Puerto Rico this year. #NewsismyBusiness
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OFG Bancorp reports core revenue of $682.7M in 2023, $175.6M in 4Q
January 25, 2024
Oriental reported a $1.2 billion public funds deposit in mid-December, although the name of the agency involved remains undisclosed due to regulatory restrictions. #NewsismyBusiness
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First BanCorp. reports $305.M net income for 2023, $79.5M for 4Q
January 25, 2024
In 2023, First BanCorp. returned approximately $300 million, or close to 100%, of 2023 earnings, to shareholders through $200 million in stock repurchases and the payment of $100 million in common stock dividends. #NewsismyBusiness
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Coop Manatí expands northern Puerto Rico footprint with $500K branch
January 17, 2024
The new branch, which serves a portfolio of 40,000 clients, is generating eight new jobs. #NewsismyBusiness
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Amid bank mergers, a global economic recession, sector going strong in Puerto Rico
December 28, 2023
Long-standing CEOs delve into topics such as the future of the banking sector and their forecasts for industry development. #NewsismyBusiness
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Fed report: Irma and Maria had modest, short-term impact on local banks’ performance
December 28, 2023
The Fed compared banks based in Puerto Rico with a control group of U.S. banks on the mainland to better understand how extreme weather disasters affect bank stability and their ability to lend. #NewsismyBusiness
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American Banker Magazine names Oriental CEO ‘Community Banker of the Year’
November 20, 2023
This recognition validates Fernández’s professional success during the nearly 20 years he has led Oriental. #NewsismyBusiness
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