Popular Inc. reports positive 3Q results; plans retirement window, branch closings
October 19, 2011
Popular Inc. sailed through its third consecutive quarter on the positive side, reporting $27.5 million in net income for the three-month period ended Sept. 30. The results were fueled by the sale of its non-performing loan portfolio and investment securities available-for-sale.
chat_bubble1 Comment
visibility3244 Views
First Bancorp’s capital raise to ‘position bank for the future,’ analyst firm says
October 11, 2011
First Bancorp’s recently completed $525 million capital raise will enable it to be “more aggressive” in resolving its problem loans and putting itself back on the path of profitability, research, trading and investment banking analyst firm B. Riley said Monday.
chat_bubble0 Comment
visibility10305 Views
First BanCorp completes $525M common stock sale
October 7, 2011
First BanCorp, parent company for FirstBank Puerto Rico announced Friday it has completed its previously announced capital raise of $525 million of common stock to institutional investors Thomas H. Lee Partners, L.P. and Oaktree Capital Management, L.P.
chat_bubble0 Comment
visibility3649 Views
BBVA Puerto Rico investing $1M on new corporate image
October 7, 2011
BBVA Puerto Rico announced Thursday it will be pumping more than $1 million to begin remodeling its branches to match them with the banking group’s global corporate identity. The transition, which also calls for changing the appearance of its credit and debit cards, as well as other day-to-day elements, should be finished by the first quarter of next year, company officials said.
chat_bubble0 Comment
visibility3187 Views
Popular completes sale of non-performing loan portfolio
September 29, 2011
Popular Inc. announced Thursday that its subsidiary Banco Popular de Puerto Rico, completed the sale of a portfolio of mostly non-performing construction and commercial real estate loans with a book value of about $148 million. The loans carry an unpaid principal balance of approximately $358 million, the financial institution announced late in the day.
chat_bubble0 Comment
visibility3839 Views
Doral investing $1M to launch program supporting women entrepreneurs
September 29, 2011
Given that more than half of the island’s population is female and that women represent 45 percent of Puerto Rico’s labor force, it should come as no surprise that they should deserve to get financial and professional support to continue to thrive in their careers.
chat_bubble0 Comment
visibility3960 Views
Point Guard to compete in compulsory auto liability insurance market
September 15, 2011
Point Guard Insurance Agency, a new player in the compulsory auto liability insurance policy market, is vowing to take over a considerable portion of the market by offering a better service structure and more efficient claims processes than the incumbent Compulsory Insurance Joint Underwriters Association, or ASC.
chat_bubble2 Comments
visibility5966 Views
Credit, debit card fraud can be a matter of life and death
September 13, 2011
Last weekend, a woman was at home in Orlando, when she got a call from her bank warning her of a potentially fraudulent transaction involving her debit card. Someone had lifted the card number to go on a $150 shopping spree at a mega-retailer in Canóvanas, miles from where she was in Florida.
chat_bubble0 Comment
visibility3457 Views
First Bancorp gets stockholder OK to raise up to $525M in capital
September 9, 2011
First BanCorp, parent company for FirstBank Puerto Rico, announced that it has received approval at the special meeting of stockholders held earlier today to issue 150 million shares of its common stock for $3.50 per share to institutional investors.
chat_bubble0 Comment
visibility2884 Views
NY Fed Home Loan Bank to grant $500M in disaster loans
September 7, 2011
The Federal Home Loan Bank of New York announced Tuesday it will be providing up to $500 million in disaster relief loans to help communities affected by Hurricane Irene begin the process of rebuilding.
chat_bubble0 Comment
visibility3097 Views
EDB launches ‘Because you can’ financing program
September 7, 2011
Looking to promote entrepreneurship among the island's neediest populations, including recent college graduates, inmates about to complete their sentence and medical professionals participating in the government's health reform program, Governor Luis Fortuño announced Tuesday the start of the new "Because you can" financing program.
chat_bubble0 Comment
visibility10862 Views
Popular, American Airlines formalize alliance
August 31, 2011
Earlier this month, Banco Popular announced it had entered into an agreement with American Airlines Inc. to become the exclusive issuer of AAdvantage co-branded credit cards in Puerto Rico and the U.S. Virgin Islands. On Tuesday, both companies formalized the new partnership, offering details of the benefits now available to cardholders.
chat_bubble1 Comment
visibility4270 Views
NALIC reports $4.5M in revenue in first semester of ’11
August 30, 2011
Two days after ratings agency A.M. Best downgraded its ratings, National Life Insurance Company announced its operational results for the first six months ended June 30, reporting $4.5 million in net revenue.
chat_bubble0 Comment
visibility9140 Views
‘Golden Mile’ showing luster for 1st time since ’07
August 27, 2011
Puerto Rico’s financial sector, one of the island’s key economic components, seems to be rebounding for the first time in four years, reporting $171 billion in combined assets during the second quarter of 2011.
chat_bubble0 Comment
visibility7750 Views
A.M. Best downgrades National Insurance’s ratings, again
August 27, 2011
For the second time this year, A.M. Best Co. has downgraded National Life Insurance Company’s ratings, this time to C++ (Marginal) from B- (Fair) and issuer credit rating to “b” from “bb-.” The agency left the door open to further downgrades Friday.
chat_bubble0 Comment
visibility14225 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA