A struggling Puerto Rican bank has been closed, and the Federal Deposit Insurance Corporation announced it entered into an agreement for the assets to be acquired by Banco Popular.
The Office of the Commissioner of Financial Institutions of Puerto Rico closed Doral Bank, of San Juan, and appointed the FDIC as receiver. Under the agreement, Banco Popular de Puerto Rico, of Hato Rey, will acquire the banking operations, including all the deposits, of Doral. Banco Popular agreed to pay the FDIC a premium of 1.59 percent for the right to assume Doral Bank’s deposits.
Doral Bank is part of San ...
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