First BanCorp. reports $23.9M in net income for 4Q16
January 27, 2017
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported Thursday net income of $23.9 million for the fourth quarter of 2016, or $0.11 per diluted share, compared to $24.1 million, or $0.11 per diluted share, for the third quarter of 2016 and $15.0 million, or $0.07 per diluted share, for the fourth quarter of 2015.
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Popular reports $1.4M net loss in 4Q16
January 25, 2017
Popular Inc. reported a net loss of $4.1 million for the quarter ended Dec. 31, 2016, compared to net income of $46.8 million for the quarter ended Sept. 30, 2016.
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Public can vote on PR Financial Awareness video contest
January 9, 2017
The Puerto Rico Bankers Association is asking the general public to cast their vote for the “People's Choice Award” as part of its Puerto Rico Financial Awareness Video Contest 2016, its annual video competition on financial education, aimed at college students.
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Assured Guaranty pays $42M to insured PR bondholders
January 5, 2017
Two bond insurance subsidiaries of Assured Guaranty Ltd., together with its subsidiaries, Assured Guaranty, have made interest payments to holders of insured General Obligation and other bonds after Puerto Rico and certain of its agencies failed to pay on Jan. 3.
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DCDB Group to offer enhanced services to P.R. banks
December 29, 2016
DCDB Group, a global financial services consultancy firm, and Elevation, the consulting arm of NACHA–The Electronic Payments Association, administrator of the U.S. ACH Network, have formed a strategic partnership.
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Popular will record $115M loss after losing FDIC dispute
December 15, 2016
Banco Popular de Puerto Rico lost its appeal before a review board over a dispute with the Federal Deposit Insurance Corp. earlier this year that will result in a $115 million pre-tax charge for the quarter ended Dec. 31, the bank confirmed Wednesday.
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CEO: FirstBank making strides despite economic woes
December 9, 2016
Puerto Rico’s second-largest bank, FirstBank, wrapped up 2016 with significant growth both locally and across its markets in the U.S. Virgin Islands and Florida, and is looking ahead to more advances in 2017, CEO Aurelio Alemán said Thursday.
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Lawyers: UBS hit with $18M FINRA arbitration verdict
December 6, 2016
UBS Financial Services Inc. and UBS Financial Services Inc. of Puerto Rico were slammed with an $18 million arbitration verdict by the Financial Industry Regulatory Authority released Monday, legal firm Sonn and Erez PLC confirmed in a statement.
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Bankers Assoc., FDIC offer annual compliance seminar
December 5, 2016
The Puerto Rico Bankers Association of Puerto Rico, jointly with the Federal Deposit Insurance Corporation, recently hosted a two-day “Minority Depository Institution Training Seminar,” marking the 10th time the organizations team up to offer it.
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FINRA fines Merrill Lynch $7M; $780K goes to PR clients
December 1, 2016
The Financial Industry Regulatory Authority (FINRA) announced Wednesday it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $6.25 million and the firm will pay some $780,000 in restitution to 22 Puerto Rico customers who who were "highly concentrated and highly leveraged in Commonwealth securities."
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Triple-S Management Corp. loses $1.9M in 3Q16
November 4, 2016
Puerto Rican managed care company Triple-S Management Corporation announced Thursday consolidated revenues of $744.7 million and a net loss of $1.9 million, or $(0.08) per diluted share, versus net income of $4.2 million, or $0.16 per diluted share a year ago.
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Oriental boosts presence among young people, women
November 3, 2016
Oriental Bank has implemented a number of strategies to expand its customer base and increase its market share of young people and women, achieving sustained growth for the past 18 months, company officials said Wednesday.
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First BanCorp. reports $24.1M in 3Q16 net income
October 26, 2016
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported Tuesday net income of $24.1 million for the third quarter of 2016.
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Popular Inc. reports $46.8M in net income for 3Q16
October 26, 2016
Popular Inc. released earnings for the third quarter on Tuesday, reporting net income of $46.8 million for the three-month period ended Sept. 30, 2016, compared to net income of $89 million for the quarter ended June 30, 2016.
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Oriental CEO ‘pleased’ PROMESA Board is active
October 24, 2016
Oriental Bancorp reported $11.7 million in net income for the third quarter of 2016 ended Sept. 30.
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