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Banking, Financial District
First Bank’s parent company gearing up for stock offering
Michelle Kantrow-Vázquez November 16, 2010

First BanCorp, parent company of First Bank, is getting ready to to price a $500 million secondary common stock offering next week, as an effort to shore up its finances.

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QUOTE OF THE WEEK:

“In today’s environment of heightened uncertainty, consumers are encouraged to prioritize financial prudence, disciplined expense control and effective budgeting to mitigate further stress on their finances.

 

A ‘wait-and-see’ approach may serve the Fed, but not consumers.”

 

— Leslie Adames, director of analysis and economic policy, Estudios Técnicos

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