State Coverage: Puerto Rico

Popular in Puerto Rico Touts 2011 'Turnaround' After 4Q Profit

American Banker | Jan 25

Popular Inc.'s management deemed 2011 a "turnaround" year as the San Juan, Puerto Rico, while projecting an even better 2012.

First BanCorp in Puerto Rico Completes Stock Offering

American Banker | Nov 30

First BanCorp in Puerto Rico said Wednesday that it had raised about $3.3 million from a rights offering.

First BanCorp in Puerto Rico Closes in on Recapitalization

American Banker | Sep 09

First BanCorp in Puerto Rico finally received the shareholder votes it needed to close in on a $525 million recapitalization.

Indifferent Investors Create Quorum Quandary for Banks

American Banker | Aug 26

First BanCorp in San Juan, Puerto Rico, has $525M of capital committed. Now it needs its shareholders to show up and vote for a key part of its recapitalization plan.

First BanCorp Aiming to Round Up Votes for Capital-Raising Plan

American Banker | Aug 24

First BanCorp's bid to raise more than $560 million of fresh capital hit a snag this week after the San Juan, P.R., company failed to obtain enough shareholder votes to proceed with its plan to issue 150 million of new shares.

Better Credit Helps First BanCorp Narrow 2Q Losses

American Banker | Aug 08

First BanCorp of Puerto Rico reported a smaller second-quarter loss than it did a year earlier, due in part to a smaller loan-loss provision and a pair of special gains.

First BanCorp's Capital Raise Will Now Top $562 Million

American Banker | Jul 19

First BanCorp in San Juan, P.R., has increased the maximum amount of its planned capital raise from $550 million to more than $562 million.

First BancCorp's Capital Raise Exceeds $500 Million

American Banker | Jun 29

Private-equity groups and other have investors have committed roughly $515M to recapitalize the San Juan, P.R., bank, to help convert its preferred stock into common stock.

First BanCorp in Puerto Rico Could Emerge as a Buyer … or a Seller

American Banker | Jun 20

Now that its private-equity injection is almost a done deal, First BanCorp's natural next move would be to consolidate power in Puerto Rico. Unless it sells itself instead.

First BanCorp Lands $180M Investment

American Banker | May 31

First BanCorp in San Juan, Puerto Rico, said Tuesday that it struck an agreement under which the private-equity firm Thomas H. Lee Partners LP may buy $180 million of the company's common stock.

First BanCorp Shows Progress

American Banker | May 06

First BanCorp in San Juan, Puerto Rico, increased capital ratios slightly in the first quarter, though they remain below the levels mandated by regulators.

Puerto Rican Bank Gets Time to Raise Capital

American Banker | Apr 15

First BanCorp in San Juan, Puerto Rico, said late Thursday that the Treasury Department has given it more time to raise capital.

Reverse Stock Split at Puerto Rico Bank

American Banker | Jan 06

First BanCorp in San Juan, Puerto Rico, has reduced its shares outstanding to 21 million after a 1-for-15 reverse stock split.

First BanCorp to Purge Bad Assets

American Banker | Dec 08

First BanCorp said Wednesday that it plans to sell nearly $702M in loans to a new joint venture in order to reduce its high-risk exposure to Puerto Rico's crippled economy.