Puerto Rico

The San Juan company disclosed an error in the way it calculated the provision for losses in its commercial loan book.

In providing aid, banks can earn Community Reinvestment Act credit and burnish their reputation.

The company, which is still recovering from two recent hurricanes, said it will voluntary comply with several key restrictions that were in the 2010 written agreement.

The desperation in Puerto Rico for life's essentials — food, gas, water and electricity — in the wake of Hurricane Maria illustrates the need for payments providers to move as quickly as possible to get the U.S. territory in a position to reinstate some semblance of modern commerce.

In post-hurricane San Juan on Monday, commerce picked up ever so slightly. With a little effort, you could get the basics and sometimes more: diapers, medicine, or even a gourmet hamburger smothered in fried onions and gorgonzola cheese. But almost impossible to find was a place that accepted credit cards.

Messaging services, mobile banking and remote deposit capture are expected to help Florida FIs that aim to keep up with employees and offer uninterrupted service to consumers.

Messaging services, mobile banking and remote deposit capture are expected to help Florida banks that aim to keep up with employees and offer uninterrupted service to customers.

Distressed-mortgage investors are descending on troubled Puerto Rico. What’s luring them is the opportunity to scoop up home loans and foreclosed properties for pennies on the dollar.

The agency sold nearly 10.3 million shares in First BanCorp in San Juan, Puerto Rico, for $57.7 million.

Selling a participation in a line of credit to the Puerto Rico Electric Power Authority reduced the company's nonperforming assets by 9%.

Cost control and improved credit were overshadowed by a big charge tied to a dispute with the FDIC.

Popular Inc. in San Juan, Puerto Rico, said its quarterly profit fell after losing an arbitration dispute with the Federal Deposit Insurance Corp.

First Bancorp in San Juan, Puerto Rico, has added a managing director from a New York private equity firm to its board.

Popular Inc. in San Juan, Puerto Rico, will take a $55 million hit to third-quarter earnings after its bank lost an arbitration battle with the Federal Deposit Insurance Corp.

First Bancorp in San Juan, Puerto Rico, has sold an insurance agency.

A decline in expenses and a modest rise in lending income boosted first-quarter profit at Popular in San Juan, Puerto Rico.

Popular Inc. in San Juan, Puerto Rico, reported a triple-digit increase in fourth-quarter profit on higher fee and interest income.

Popular in San Juan, Puerto Rico, reported higher third-quarter profits, as an increase in mortgage banking and lower operating costs.

OFG Bancorp in San Juan, Puerto Rico, will record a pretax loss of roughly $21 million after its sells all remaining nonperforming assets from its 2010 purchase of the failed Eurobank.

First Bancorp, OFG Bancorp and Popular Inc. have been trimming exposure to central government loans in recent years to limit their exposure to a financial crisis. Most still bank the island's municipalities, though they have strict underwriting and collateral to protect their interests.