WASHINGTON -- Banco Santander said it increased its stake in First Fidelity Bancorp. to the equivalent of about 25.4%.
The Spanish bank's recent increase in its First Fidelity stake includes the exercise of warrants to purchase 2,376,913 common shares at a price of $25.50 per share, or a total of $60.6 million, according to a filing with the Securities and Exchange Commission.
Banco Santander now holds the equivalent of 20.8 million First Fidelity shares.