Signing deadline looms for bill mandating foreclosure mediation
August 16, 2012
A bill establishing mandatory mediation in foreclosures of a primary residence seemed a shoe-in for the governor's signature, but now the anticipated outcome is not so certain.
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Doral loses $1.6M in 2Q ’12, signs consent decree with regulators
August 9, 2012
Doral Financial Corporation, parent company of Doral Bank, lost $1.6 million during the second quarter ended June 30, and announced it entered into a Consent Order with the Federal Deposit Insurance Corporation and the Office of the Puerto Rico Commissioner of Financial Institutions Wednesday.
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Reliable Auto marks silver anniversary in Puerto Rico
August 7, 2012
Reliable Auto, a financial services institution with $342 million in assets, is marking its 25th anniversary in Puerto Rico, where it has experienced steady growth by adapting to the market.
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Triple-S Management reports $17M income for 2Q ’12
August 2, 2012
Triple-S Management Corporation, Puerto Rico’s largest managed care company announced Wednesday consolidated revenue of $623 million and operating income of $24.2 million for the three months ended June 30, 2012.
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First BanCorp. reports $9.4M in 2Q profit, beating estimates
August 1, 2012
First BanCorp. reported better-than-expected second quarter results Tuesday, taking in $9.4 million in net income, a significant improvement over the $14.9 million net loss reported for the same year-ago quarter. The current results are also positive in comparison to the $13.2 million net loss reported during the first quarter of this year.
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Oriental reports $13.8M in 2Q profit
July 24, 2012
Oriental Financial Group reported Monday $13.8 million in profits for the second quarter ended June 30.
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Popular reports $65.7M in 2Q net income
July 19, 2012
Popular Inc. reported Wednesday net income of $65.7 million for the second quarter ended June 30, 2012, compared with $48.4 million in net income during the prior trimester ended March 31.
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Santander Puerto Rico president, Hidalgo, steps down
July 5, 2012
Javier Hidalgo-Blázquez, President and CEO of Santander BanCorp and Santander Puerto Rico, resigned to his positions to assume new responsibilities within the bank’s parent company, Grupo Santander in Spain. However, bank officials did not say Thursday when his resignation will take effect.
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Analyst: Buying BBVA’s Puerto Rico operations will ‘immediately transform’ Oriental Bank
July 2, 2012
Last week’s announcement by Oriental Financial Group of its intention to buy BBVA Puerto Rico’s operation for $500 million will “immediately transform” the former’s day-to-day operations into a more bank-like institution, something management has been striving for in recent years, an industry analyst said over the weekend.
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Oriental Financial Group to acquire BBVA Puerto Rico for $500M
June 28, 2012
Oriental Financial Group Inc. has entered into an definitive agreement to buy Banco Bilbao Vizcaya Argentaria, S.A.’s Puerto Rico operations for $500 million in cash, the companies announced this morning.
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A.M. Best upgrades newcomer Multinational Life Insurance Co.’s credit ratings
June 20, 2012
Eight months after entering the Puerto Rico market, Multinational Insurance Company has received a favorable review from prestigious credit ratings agency A.M. Best Co.
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Analyst: P.R.’s bank deposit shortage stunting loan activity
June 18, 2012
Puerto Rico’s banking sector is not generating enough deposit activity to fund loan demand, which makes it very competitive and leads to higher deposit costs when compared to the mainland U.S.
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Culson headlines Popular’s ‘Echar pa’lante’ 2.0 campaign
June 13, 2012
Focusing on three pillars — support, discipline and passion — Banco Popular launched Tuesday the second phase of its “Echar pa’lante” (“Moving Forward”) institutional campaign centered on the image of Puerto Rico track and field overachiever Javier Culson.
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Bankers Association integrates social networks into anti-fraud educational pitch
June 6, 2012
Saying that consumers can protect themselves the best when it comes to warding off identity theft and banking fraud, the Puerto Rico Bankers Association launched Tuesday a permanent educational initiative to teach people how to protect themselves against attacks to their personal finances.
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First BanCorp wraps $402M credit card portfolio purchase
June 1, 2012
First BanCorp, the parent company for FirstBank Puerto Rico, announced it completed Thursday its purchase of a $402 million FirstBank-branded consumer credit card portfolio from FIA Card Services, N.A. and an affiliate.
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