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.
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.
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.
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.
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.
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.
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.
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.
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.
Several high-ranking FirstBank executives are getting significant pay raises this year, through a combination of cash and stock, according to a filing submitted to the Securities and Exchange Commission this week.
Spanish insurance group MAPFRE confirmed Wednesday that the North American market, which covers Canada, the United States mainland and Puerto Rico, now represents 10 percent of its premiums and revenue.
Upon wrapping up what company officials called “a difficult year,” Doral Financial Corp. is looking to reduce its exposure to Puerto Rico’s economic problems by migrating its assets to its U.S. mainland business, company CEO Glen Wakeman said during a Monday afternoon earnings conference call.
The Federal Home Loan Bank of New York announced Thursday that José R. González has been named president and chief executive officer of the FHLBNY effective April 1, 2014.
Puerto Rico is at the threshold of a second economic transformation — from an industrial to a knowledge-based and services economy — and has the necessary infrastructure to pull out of its current crisis and build a “stronger and more vibrant economy.
Puerto Rico residents have a little more than two weeks to sign up for health insurance or switch the terms of their coverage under the Affordable Care Act, Insurance Commissioner Angela Weyne said Thursday.
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