First BanCorp., the bank holding company for FirstBank Puerto Rico on Monday reported net income of $25.6 million for the first quarter of 2015, or $0.12 per diluted share, compared to $330.8 million, or $1.56 per diluted share, for the fourth quarter of 2014 and $17.1 million, or $0.08 per diluted share, for the first quarter of 2014.
Two weeks after picking up the majority of the assets of the failed Doral Bank, Popular Inc. is reviewing the six corporate social responsibility programs the former institution had going, which benefited hundreds of Puerto Rico residents over the years.
Less than two weeks after the Federal Deposit Insurance Corp. ordered the closing of its banking arm, Doral Financial Corp. announced Wednesday that it has filed for chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York.
Popular Inc., which on Friday picked up the lion’s share of Doral Bank’s assets, announced Monday it won its bid to also take over the mortgage servicing rights on three pools of residential mortgage loans serviced for Ginnie Mae, Fannie Mae and Freddie Mac held by the shuttered bank.
Following weeks and months of speculation about its fate, the Puerto Rico Office of the Commissioner of Financial Institutions and the Federal Deposit Insurance Corporation, announced Friday the closing of Doral Bank’s local and stateside operations.
Doral Bank was on the receiving end of major blows by the Federal Deposit Insurance Corp. and the Appellate Court Wednesday, just before it's time as a member of Puerto Rico’s financial community could come to an end.
Doral Bank, through its Fondo Doral initiative, announced Monday a $20,000 donation to Foundation for Puerto Rico to contribute to the development of the Kiva Zip Puerto Rico microloan platform.
In a letter sent to Doral Bank earlier this week, the Federal Deposit Insurance Corp. advised the financially crippled bank to “accept an offer to combine with another insured depositary institution,” or improve its capital levels to once again be considered as “adequately capitalized.”
Puerto Rico’s commercial banks will be observing today’s Martin Luther King holiday with special hours, scheduled as follows:
Doral Bank, a wholly owned subsidiary of Doral Financial Corporation, announced Thursday the completion of the sale of of certain loans, advances, mortgages, and loan participation rights to WOMF REV, LLC, which will shore up $181.3 million in cash for the troubled financial institution.
Doral Financial Corp. told the Securities and Exchange Commission Monday that the revised capital restoration plan submitted to the Federal Deposit Insurance Corp. last week was rejected for failing to “meet the criteria.”
Four Puerto Rico-based banks again made it into this year's “Best Banks in America” ranking released by Forbes magazine, with Oriental Bank receiving the highest rating among its peers.
Doral Bank and retailer Rooms To Go, in partnership with Proyecto ENLACE, announced Monday the culmination of a campaign that granted a three-bedroom home to a low-income family residing in the Martin Peña Channel community in San Juan.
Fitch Ratings announced Thursday it completed a peer review of three rated Puerto Rican banks, and affirmed the long-term “Issuer Default Ratings” for Doral Financial Corp. at 'C' and Popular Inc. at 'BB-' and First BanCorp at 'B-.'
A group of Doral Bank employees held a news conference Thursday, urging Gov. Alejandro García-Padilla to stop the government’s “attack” on their workplace, and “save their jobs.”
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