Popular Inc. reports $280M in 2Q18 net income; announces stock repurchase plan
July 24, 2018
Popular Inc. reported a net income of $280 million and an adjusted net income of $121.3 million for the second quarter ended June 30, 2018, compared to a net income of $91.3 million for the quarter ended March 31, 2018.
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Assured Guaranty sues over constitutionality of OBoard members
July 24, 2018
Two bond insurance subsidiaries of Assured Guaranty Ltd. have filed an adversary complaint challenging the constitutionality of appointments to the Financial Oversight and Management Board for Puerto Rico.
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Oriental Financial group reports $16.2M in 2Q18 net income
July 23, 2018
OFG Bancorp revealed that for the second quarter ended June 30, 2018, it had net income available to shareholders of $16.2 million, or $0.35 per fully diluted share, compared to the first quarter’s $13.5 million and $13.6 million, equal to $0.30 per share, for the second quarter of 2017.
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FirstBank grants $6.7M in financing to Print 1 in Las Piedras
July 17, 2018
Print 1, a commercial printing business in Las Piedras, recently received a $6.7 million line of credit from FirstBank for the purchase of assets and working capital to expand their facilities, the company stated.
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Foreclosures could spike by year’s-end as loan moratoriums expire
June 22, 2018
Puerto Rico property owners could face higher foreclosure levels after moratoriums on loan payments provided by local banks after Hurricane María expire in coming months, executives at FirstBank predicted Thursday.
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Regulator: P.R. insurers have paid $2.5B+ in claims, advances
June 8, 2018
Puerto Rico’s property and contingency insurers have paid more than $2.5 billion in claims and advances to the local policyholders for damages following hurricanes Irma and María as of April 30, 2018.
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Oriental launches commercial credit online platform for SME’s
June 5, 2018
Oriental Bank has launched a new digital platform that seeks to make it “fast and easy” for small and medium-sized Puerto Rico businesses to apply for and manage commercial credits through the life cycle of their relationship.
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Popular announces early termination of FDIC Shared-Loss Agreements
May 24, 2018
Popular Inc. announced that, on May 22, its subsidiary Banco Popular entered into a Termination Agreement with the Federal Deposit Insurance Corp.
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Triple-S reports $3.9M in net income in 1Q18
May 9, 2018
Triple-S Management Corporation announced its first quarter 2018 results, which net income of $3.9 million, or $0.17 per diluted share, versus a net loss of $4.3 million, or $0.18 per diluted share, in the prior-year period.
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First BanCorp. reports $33.1M in 1Q18 net income
April 28, 2018
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $33.1 million for the first quarter of 2018.
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Popular Inc. CEO: P.R. has ‘unique opportunity’ to tackle long-standing problems
April 25, 2018
Puerto Rico, which has been facing long-standing structural problems now has a “unique opportunity” to tackle them, Popular Inc. CEO Ignacio Álvarez said during an earnings call to disclose first quarter results.
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OFG CEO: Gov’t, OBoard clash over Fiscal Plan could choke federal fund flow
April 23, 2018
The clash between Gov. Ricardo Rosselló’s administration and the Financial Oversight and Management Board for Puerto Rico over the implementation of the federally appointed entity’s Fiscal plan could unleash a protracted court fight and generate uncertainty about flow of federal aid to the island.
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Santander Securities Puerto Rico office to close May 25
April 5, 2018
This week, Santander Securities LLC (SSLLC), the investment division of Banco Santander, sent a letter to its clients in Puerto Rico notifying them that, as of May 25, 2018, the Santander Securities branch in San Juan will close to the public.
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Critical week for P.R.’s health system as ’19 Medicare funding deadline looms
April 2, 2018
The first week of April will be critical to the future of Puerto Rico’s healthcare system as the Centers for Medicare and Medicaid Services (CMS) will rule over numerous requests for improved treatment in the funding for Medicare Advantage programs on the island, the Medicare Advantage Products Association of Puerto Rico said.
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FirstBank focuses on growing deposits, expanding technology
March 15, 2018
In a market where population is steadily declining, the economy has contracted and the fiscal situation has been in a downward spiral, it has become a challenge for financial institutions to keep their deposit levels growing.
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