Doral hires stateside firms to navigate through crisis
May 27, 2014
Doral Financial Corp. has hired a couple of Washington, D.C-based firms to back up its fight against the Puerto Rico government’s decision to rescind on an agreement signed in 2012 granting the bank a $230 million tax refund.
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Treasury says Doral not entitled to $230M tax refund
May 16, 2014
Following a “deep analysis,” the Puerto Rico Treasury Department denied Doral Financial Corp.’s request for a refund of $230 million it claims to have overpaid in taxes, voiding an agreement struck in March 2012.
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Doral fires off letter to Treasury asking for $232M refund
May 13, 2014
Financially troubled Doral Financial Corp. fired off a letter to the Puerto Rico Treasury Department late last week asking the agency to comply with the terms of a closing agreement reached in 2012 obligating the government to refund the bank for tax over-payments estimated at about $232 million.
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S&P downgrades Doral to ‘CC’ in wake of capital breach
May 8, 2014
Two days after Doral Financial Corp. disclosed its weakened capital position, Standard & Poor's Ratings Services said Wednesday it lowered its issuer credit rating to 'CC' from 'CCC-' and placed the rating on CreditWatch with negative implications.
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Triple-S reports $584.8M in revenue for 1Q14
May 7, 2014
Triple-S Management Corp. managed care company announced Tuesday consolidated revenues of $584.8 million and consolidated operating income of $10 million for the three months ended Mar. 31, 2014.
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Doral developing revised capital plan to address liquidity
May 2, 2014
The Federal Deposit Insurance Corporation has warned Doral Bank that it may no longer include in its calculation of its Tier 1 Capital some or all of the tax receivables from the government, which represented $289 million of the bank’s approximately $679 million of Tier 1 Capital at Dec. 31, 2013.
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OFG reports $20.3M in 1Q14 earnings, up $2.6M YOY
April 29, 2014
Oriental Financial Group reported Monday earnings of $20.3 million for the first quarter of the year, representing $0.42 per share diluted, compared to $16.6 million, or $0.35 per share diluted, in the preceding quarter, and $17.7 million, or $0.37 per share, in the first quarter of 2013.
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FHLBNY reports $75.4M in net income for 1Q14
April 29, 2014
The Federal Home Loan Bank of New York released Monday its unaudited financial highlights for the quarter ended Mar. 31, disclosing, among other details, net income for the quarter of $75.4 million.
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First BanCorp. earns $17.1M in 1Q, up $2.3M YOY
April 25, 2014
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported Thursday net income of $17.1 million for the first quarter of 2014, or $0.08 per diluted share, compared to $14.8 million, or $0.07 per diluted share, for the fourth quarter of 2013 and a net loss of $72.6 million, or $0.35 per diluted share, for the first quarter of 2013.
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Popular scaling back stateside opps, earns $86.4M in 1Q
April 24, 2014
Popular Inc. confirmed Wednesday it will be scaling back its U.S. mainland operations by divesting its branches in California, Illinois and Central Florida and centralizing certain back office operations in Puerto Rico and New York.
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Puerto Rican banking exec González ‘at home’ at FHLBNY
April 16, 2014
It was two weeks ago that Puerto Rican banking veteran José Ramón González took over the helm of the Federal Home Loan Bank of New York, an institution that is one of the main driving forces behind the island’s financial district.
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Triple-S to offer cell phones to gov’t health plan recipients
April 11, 2014
Triple-S Salud will offer government health plan beneficiaries a cell phone that will allow them to care for and monitor their health conditions, the company announced Thursday.
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A.M. Best upgrades Atlantic Southern Insurance Co.
April 10, 2014
A.M. Best has upgraded Atlantic Southern Insurance Company’s financial strength rating to B++ (Good) from C++ (Marginal) and issuer credit rating to “bbb” from “b+.” The ratings have been removed from under review with positive implications and assigned a stable outlook, the agency said Wednesday.
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28K Puerto Rico residents enroll in ‘Obamacare’ plans
April 4, 2014
Some 28,699 Puerto Rico residents signed up for health coverage under the Patient Protection and Affordable Care Act, during the six-month subscription period that ended Mar. 31, Insurance Commissioner Angela Weyne said Thursday.
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Popular throwing its support behind real estate brokers
April 4, 2014
It’s no secret that Puerto Rico’s real estate sector has taken a beating in recent years due to the economic woes the island has been facing for the better part of the past decade. Property sales have stagnated and values have dropped in certain categories, affecting banks and brokers alike.
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