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Stock Market & Financial Investment News

News Breaks
February 26, 2013
08:25 EDTBPOP, BPOP, BPOPPopular to host investor day
Investor Day to be held in San Juan, Puerto Rico on March 1 at 9 am. Webcast Link
News For BPOP From The Last 14 Days
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February 27, 2015
17:19 EDTBPOPPopular acquires certain assets of Doral Bank from FDIC
Popular (BPOP) announced that Banco Popular de Puerto Rico, its Puerto Rico banking subsidiary, acquired certain assets and all deposits of Doral Bank (DRL) from the FDIC as receiver, in alliance with other co-bidders, including its U.S. mainland banking subsidiary, Banco Popular North America, doing business as Popular Community Bank. Under the FDICís bidding format, BPPR was the lead bidder and party to the purchase and assumption agreement with the FDIC covering all assets and deposits to be acquired by it and its alliance co-bidders. BPPR entered into back to back purchase and assumption agreements with each alliance co-bidder for the transferred assets and deposits. The other bidders that formed part of the alliance were FirstBank Puerto Rico, Centennial Bank and an affiliate of JC Flowers III L.P. As part of the transaction, BPPR assumed approximately $1B in deposits that reside in eight of the 18 Puerto Rico branches of Doral Bank and in its online deposit platform. In addition, BPPR acquired $848M in Puerto Rico performing residential and commercial loans. PCB assumed approximately $1.3B in deposits in three New York branches, and acquired $931M in performing commercial loans primarily in the New York metropolitan area. There is no loss-sharing arrangement with the FDIC in the acquired assets.
17:02 EDTBPOPHome Bancshares subsidiary to acquire Doral Florida operations
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16:07 EDTBPOPPopular to acquire Doral Financial operations, Bloomberg reports

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