Puerto Rico

Doral Financial in San Juan, Puerto Rico, has resubmitted its capital restoration plan to the Federal Deposit Insurance Corp. after the agency determined that the initial plan was insufficient.

The Treasury Department has sold nearly a fifth of its stake in Puerto Rico's First Bancorp in recent months.

A court in Puerto Rico court has affirmed its decision that Doral Financial is entitled to a $230 million tax refund from the territory's Treasury Department.

A group of investors has raised its stake in Doral Financial on a belief that the San Juan, Puerto Rico, company will prevail in its effort to claim a $230 million tax refund from the territory's government.

Puerto Rico's economy has been in disarray for eight years, and it's taken many banks down with it. OFG weathered the financial crisis and is considering how to capitalize on its status as the island's healthiest bank.

Doral Financial in San Juan, Puerto Rico, has provided the Federal Deposit Insurance Corp. with its capital restoration and contingency plans.

Doral Financial in San Juan, Puerto Rico, has prevailed in its court battle with the territory's Treasury Department over a substantial tax refund.

The $7.8 billion-asset company disclosed in a regulatory filing Friday that it had sold performing mortgages with outstanding balances of roughly $193 million to First BanCorp, also in San Juan.

The agency has been hounding the "significantly undercapitalized" bank to provide written capital restoration and contingency plans that would include ways Doral could be sold or liquidated.

Doral Financial in San Juan, Puerto Rico, has sold more loans in a move that will deplete capital but bolster the company's liquidity.

Citizens Financial Group in Providence, R.I., has expanded its health care practice banking group to three additional states.

Doral Financial (DRL) in San Juan, Puerto Rico, has agreed to sell roughly $825 million of assets to Abbey Finance Holdings PR.

OFG Bancorp (OFG) in San Juan, Puerto Rico, added two members to its executive team.

Once the Puerto Rican company repays its Tarp funds, management will focus on growing in New York and south Florida. The company also hopes to benefit from any improvement in the Puerto Rican economy.

Popular Inc. (BPOP) in San Juan, Puerto Rico, has received regulatory approval to exit the Troubled Asset Relief Program.

Doral Financial's (DRL) dispute with the Puerto Rican government over a tax refund will be heard on an expedited basis by the territory's courts.

The company claims in a lawsuit against the Puerto Rican government that the territory could lose "a major lender in the Puerto Rico housing market" if it is denied a $230 million tax refund.

First BanCorp (FBP) in San Juan, Puerto Rico, has resolved a large outstanding loan to Doral Financial (DRL) by taking on $242 million on mortgages that were used as collateral for the loan.

The Puerto Rican company is looking to shore up its capital levels after the FDIC invalidated about 40% of its Tier 1 capital. Management will have plenty of challenges as it looks to fill the capital hole.

Doral Financial (DRL) is evaluating its legal options after Puerto Rico rejected the company's request for a $230 million refund of overpaid taxes.