First BanCorp., the parent company for FirstBank Puerto Rico, announced it has received the requisite regulatory approvals local and federal banking regulatory agencies to wrap up its acquisition of the Puerto Rico operations of Banco Santander Puerto Rico. First BanCorp. got the go-ahead from the Board of Governors of the Federal Reserve System, Federal Deposit […]
First BanCorp., parent of FirstBank Puerto Rico, announced the signing of a stock purchase agreement for FirstBank to acquire Spanish bank Banco Santander Puerto Rico in an all-cash transaction worth $1.1 billion. The transaction is subject to receipt of all necessary regulatory approvals and is expected to close in mid-2020. When broken down, the 100% […]
Three of Puerto Rico’s main banks — Banco Santander Puerto Rico, Popular Inc. and FirstBank Puerto Rico — banks can absorb further asset quality stress resulting from Puerto Rico’s recession for at least two more years, Moody’s Investors Service said in a report released Thursday.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
