Point Guard Insurance opens Carolina service center
August 20, 2013
Compulsory insurance provider Point Guard Insurance, which broke into the market two years ago to break the existing monopoly at the time, recently opened a new customer service center in Carolina and remodeled and expanded its Ponce center.
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Doral Financial loses $10.4M in 2Q13
August 15, 2013
Doral Financial Corporation, which has operations in Puerto Rico and the U.S. mainland, reported Wednesday a net loss of $10.4 million for the three months ended June 30, 2013.
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Doral Financial informs SEC of delay in 2Q13 report
August 13, 2013
Doral Financial Corp. informed the Securities and Exchange Commission Monday that it was unable to timely file its report for the quarter ended June 30, 2013 because of “a delay in the preparation of its unaudited consolidated financial statements for such quarter.”
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Doral Bank expanding financial literacy program in Fla.
August 6, 2013
Just in time for the start of the new school year, Doral Bank, a wholly owned subsidiary of Puerto Rico-based Doral Financial Corporation, announced Monday it is expanding its financial literacy program for high school students in Bay County, Florida.
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Insurer Humana Puerto Rico to lay off 329 — 47% of staff
August 2, 2013
In the wake of losing its contract with the government to provide health insurance coverage through the public MiSalud plan, insurer Humana Health Plans of Puerto Rico Inc. announced Thursday it will eliminate 329 jobs from its local operation.
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First BanCorp. loses $122.6M in 2Q
July 25, 2013
First BanCorp., the parent company for FirstBank Puerto Rico, reported Wednesday a net loss of $122.6 million for the second quarter of 2013, or $0.60 per diluted share, compared to a net loss of $72.6 million, or $0.35 per diluted share, for the first quarter of 2013 and net income of $9.4 million, or $0.05 per diluted share for the second quarter of 2012.
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Banks outline schedules for long holiday weekend
July 25, 2013
While many Puerto Rico residents will kick off a four-day weekend today, commercial banks will be observing the July 25th Constitution Day celebration and Saturday’s José Celso Barbosa holiday with special hours.
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Oriental reports $34.1M in 2Q ’13 income
July 23, 2013
OFG Bancorp, parent company of Oriental Bank, reported second quarter results Monday that reflected $34.1 million in income available to common shareholders, or $0.68 per share diluted, compared to $13.8 million, or $0.34 per share, in the second quarter of 2012, and $17.7 million, or $0.37 per share, in the first quarter of 2013.
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Moneyhouse after ‘underserved’ U.S. Hispanic population
July 22, 2013
Moneyhouse, a Puerto Rico-based private equity lender and frontrunner in reverse mortgage closings, is awaiting approval for licenses to operate in California and Illinois to continue its stateside expansion, company officials said.
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Popular Inc. reports $328M in 2Q net income
July 19, 2013
Buoyed by a triple-play of significant transactions, Popular Inc., Banco Popular de Puerto Rico's parent company, reported net income of $327.5 million for the quarter ended June 30, 2013, compared to a net loss of $120.3 million for the quarter ended March 31, 2013.
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Santander shuffles top leadership, appoints new Puerto Rico head
July 17, 2013
Banco Santander Puerto Rico announced Tuesday the appointment of Román Blanco, who less than a year ago took over the reins of the island’s operations, as CEO of Santander Holdings USA and Sovereign Bank.
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Puerto Rico banks announce holiday schedule
July 15, 2013
Puerto Rico’s major banks announced their schedules for today’s Luis Muñoz Rivera holiday, some offering shorter service hours.
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Puerto Rican insurer Point Guard unveils mobile app
July 15, 2013
Keeping Puerto Rican driver safety in mind, Point Guard Insurance recently unveiled its mobile application, through which customers can submit claims and verify status of existing ones, access contact information and roadside assistance services.
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Banco Popular Puerto Rico sells $438M in bad residential loans
July 2, 2013
Banco Popular de Puerto Rico officials announced Monday the completion of the previously announced sale of a portfolio of non-performing residential mortgage loans with a book value and unpaid principal balance of approximately $438 million and $511 million, respectively. The all-cash transaction will reduce Popular’s non-performing residential mortgage loans by approximately 73 percent and total […]
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Triple-S Vida to buy Atlantic Southern Insurance Company
July 2, 2013
Puerto Rican insurance firm Triple-S Vida announced Monday that it has signed a letter of intent to acquire competing insurer Atlantic Southern Insurance Co. for an undisclosed amount.
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