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Popular Inc. in San Juan, Puerto Rico, reported better-than-expected first-quarter earnings despite grappling with the higher costs associated with its acquisition of assets from the failed Doral Bank.
April 27 -
First Bancorp in Puerto Rico revised its fourth-quarter earnings to reflect an adjustment tied to a reversal in its deferred-tax asset.
March 13 -
Banco Popular got the most press for agreeing to buy the failed Doral Bank. But the deal also revealed one surprise winner, First BanCorp, while another institution, OFG Bancorp, was shut out of the process.
March 5
First BanCorp in San Juan, Puerto Rico, has been released from a consent order with the Federal Deposit Insurance Corp.
The $12.7 billion-asset company said in a press release Thursday that the order had been in place since June 2010.
The order's termination reflects "our improved performance and our team's dedication and determination to improving our franchise capital position, asset quality and profitability," Aurelio Aleman, First BanCorp's president and chief executive, said in the release.
First BanCorp received the consent order after suffering crippling credit losses around the same time that
The lifting of the order represents another positive development for the once-troubled bank. In December,
In February,
