Mergers & Acquisitions

Investor RelationsMergers & Acquisitions
FIRST BANCORP. (NYSE - FBP)  
M&A History<< Return to Mergers & Acquisitions
 Deal Overview
Buyer: First BanCorp.
Actual Acquirer: FirstBank Puerto Rico
Target: Mortgage loans
Deal Type: Specialty Finance Portfolio
Seller: Doral Financial Corporation
Agreement Date5/30/2014
Announcement Date5/30/2014
Announced Deal Value ($M)234.10
StatusCompleted
Completion Date5/30/2014
Consideration Breakout
Unclassified ($M)234.1

 Deal Pricing Ratios
 AnnouncementCompletion
Price / Book (%)96.7096.70
Price / Managed Receivables (%)96.7096.70
 Deal Terms
Description of Consideration
First BanCorp. paid $234.1 million to acquire all rights, title and interests in mortgage loans from Doral Financial Corp.
Percent Acquired (%)NA
Purchase MethodAcquisition
Merger of Equals?NA
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)600