The Treasury Department has exited its largest investment from the Troubled Asset Relief Program.
The agency said in a press release Wednesday that it sold nearly 10.3 million shares in First BanCorp in San Juan, Puerto Rico, for $57.7 million, or $5.61 a share. The Treasury did not disclose the buyers.
The Treasury said it has recovered roughly $232 million from its investment in the $11.9 billion-asset company.
With the sale, OneFinancial in Little Rock, Ark., is the
This year, 22 banks with assets between $3 billion and $10 billion made American Banker's Best Bank to Work For 2024 ranking.
In a speech, Federal Reserve Gov. Adriana Kugler said sound monetary policy comes when electoral politics are kept out of central banking.
Customized perks, AI-driven solutions and even freelance employees are all in play at banks as human resource managers confront the challenge of recruitment and retention.
The Arkansas Republican, who could be the next chairman of the top banking panel in the House, could find some areas of agreement with Democratic Senate Banking Committee ranking member Elizabeth Warren on issues like failed bank resolution reform.
The incoming Trump administration is expected to prioritize an activities-based oversight approach to nonbank entities, just as the Biden administration has. It may also leave its designation power intact, but unused.
The top five community banks averaged a return on average equity of 115.97% as of June 30.
