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Regulators have shut Doral Bank, ending a tumultuous decade for the Puerto Rican bank. The $5.9 billion-asset Doral was the fourth bank to fail this year and the biggest bank to be closed since the $11 billion-asset Westernbank in Puerto Rico was shuttered in April 2010.
February 27 -
Popular and FirstBank gained critical branches and deposits in a region where growth is hard to come by. Some observers said it could also benefit the island to have one less competitor.
February 27 -
Triumph Bancorp in Dallas has completed the redemption of preferred stock tied to Troubled Asset Relief Program debt.
January 5
Triumph Bancorp in Dallas has purchased several entities that the Federal Deposit Insurance Corp. retained after the failure of Doral Financial in Puerto Rico.
The $1.3 billion-asset Triumph said in a press release late Tuesday that one of its units bought the equity of Doral Money, along with loans with a face value of roughly $37 million.
Triumph also gained the management contracts to two active collateralized-loan obligations with about $703 million in assets, increasing the company's assets under management to about $1.7 billion.
The company said it divested some securities associated with the CLOs to an unnamed third party.
The acquisition provides more resolution to the
