First BanCorp. to Acquire Banco Santander Puerto Rico
First BanCorp. New (FBP)
Last first bancorp. new earnings: 4/30 07:30 am
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US:NYSE Investor Relations:
snl.com/irweblinkx/corporateprofile.aspx?iid=4041406
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Source: Business Wire
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Company”) (NYSE: FBP), the bank holding company of FirstBank Puerto Rico (“FirstBank”), announced today the signing of a stock purchase agreement for FirstBank to acquire Banco Santander Puerto Rico (“BSPR”) for a $63 million premium to BSPR’s core tangible common equity in an all cash transaction. The transaction is subject to receipt of all necessary regulatory approvals.As of June 30, 2019, BSPR had $6.2 billion of assets, $3.1 billion of loans and $5.0 billion of deposits. On a pro forma basis based on June 30, 2019 data, including purchase accounting adjustments, after the transaction FirstBank will have approximately $17.6 billion in assets, a $12.0 billion loan portfolio, and $14.2 billion of deposits.Aurelio Alemán, President and Chief Executive Officer of First BanCorp., commented: “We are very excited to announce this transformational transaction for our Company. After completing comprehensive due diligence, we
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FBP
News
- First BanCorp. (NYSE: FBP) had its price target raised by analysts at Keefe, Bruyette & Woods from $24.00 to $25.00. They now have an "outperform" rating on the stock.MarketBeat
- First BanCorp. (NYSE: FBP) had its price target raised by analysts at Wells Fargo & Company from $20.00 to $22.00. They now have an "equal weight" rating on the stock.MarketBeat
- First BanCorp Declares Quarterly Cash Dividend on Common StockBusiness Wire
- First BanCorp. (NYSE: FBP) had its price target lowered by analysts at Hovde Group from $25.00 to $24.00. They now have an "outperform" rating on the stock.MarketBeat
- First BanCorp. (NYSE: FBP) had its price target lowered by analysts at Piper Sandler from $22.00 to $21.00. They now have a "neutral" rating on the stock.MarketBeat
FBP
Earnings
- 10/23/24 - Beat
FBP
Sec Filings
- 12/16/24 - Form 4
- 12/10/24 - Form 4
- 12/3/24 - Form 4
- FBP's page on the SEC website