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.
As part of its strategy to increase customer deposits, FirstBank announced Wednesday the launch of “Cuenta 1,” a checking account for individuals that carries no service fees, does not require a minimum opening balance or minimum monthly balance.
Scotiabank de Puerto Rico will keep its Plaza Las Américas branch closed today, due to weather conditions and for the safety of its employees and clients, bank officials announced.
After falling short on rounding up the required number of participants for its special stockholders meeting scheduled for Tuesday, when Hurricane Irene was still lashing Puerto Rico, First BanCorp will try again Sept. 9, company officials said.
In its pursuit to provide the best service and convenience for customers, FirstBank announced the recent opening of its Yauco Plaza I Shopping Center branch. The new 3,600 square-foot facility employs 17 sales and service employees.
Aurelio Alemán, CEO of FirstBank, has been elected president of the Puerto Rico Bankers Association, effective July 1. The executive’s term extends through Sept. 30, 2012.
FirstBank Puerto Rico’s parent company, First BanCorp, announced Monday it has amended the agreements struck with private equity firms Thomas H. Lee Partners, L.P., Oaktree Capital Management, L.P., and other investors to increase the amount of the proposed capital raise from $515 million to $525 million.
First Bancorp announced Tuesday it has entered into a definitive agreement with Oaktree Capital management to sell 24.9 percent of its common stock, for $175.5 million. The transaction comes a month after FirstBank’s parent company entered into a similar agreement with private equity firm Thomas H. Lee Partners, L.P.
In observance of International Year of Forests, FirstBank has joined Hospedería Rio Abajo Forest Cooperative and Educational Services and Alternative Tourism Trips under its One with the Environment program to educate 500 students from public schools in Arecibo and Utuado on the importance of protecting forests and their surroundings for their ecological value.
Looking to become “One with the environment,” FirstBank Puerto Rico launched a multi-pronged corporate responsibility campaign Wednesday using that very slogan.
FirstBank Puerto Rico recently won a foreclosure case worth $83.1 million related to an upscale residential development project located at the heart of Coral Gables, the South Florida Business Journal reported.
Just two months after announcing its intent, First BanCorp on Wednesday confirmed it has entered into a definitive agreement to sell a loan portfolio with an unpaid principal balance of $516.7 million to a newly created joint venture between Goldman, Sachs & Co. and Caribbean Property Group.
First BanCorp announced Thursday — at the request of the New York Stock Exchange — that it is not aware of any developments that would account for the market activity in the corporation's common stock today.
First BanCorp, parent company of First Bank, announced Wednesday that, effective Jan. 7, it will implement a 1-for-15 reverse stock split of all outstanding shares of its common stock as it pulls at its options to remain listed on the New York Stock Exchange.
First BanCorp, parent company of First Bank, is getting ready to to price a $500 million secondary common stock offering next week, as an effort to shore up its finances.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA