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Bailout
: Calculated RiskPuerto Rico Banking News
By Anonymous
Westernbank President and CFO Frank Stipes ... resigned [on Friday] ... sources told caribbeanbusinesspr.com that agreement has been reached by the troubled bank to sell several branches to Banco Popular ...From the Unofficial Problem Bank List - there are three banks in Puerto Rico operating under Cease & Desist orders:
1) Westernbank Puerto Rico in Mayaguez with $11.9 billion in assets.
2) R-G Premier Bank of Puerto Rico in Hato Rey with $6.6 billion in assets.
3) Eurobank in Hato Rey with $2.6 billion in assets
All three are rumored to be out for bid. Last week the FDIC was busy in Illinois. Is this the week for Puerto Rico?
Full post as published by Calculated Risk on April 24, 2010 (boomark / email).
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