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: Residential mortgage loans
Deal Type: Specialty Finance Portfolio
Seller: Doral Financial Corporation
Agreement Date10/2/2014
Announcement Date10/2/2014
Announced Deal Value ($M)192.70
StatusCompleted
Completion Date10/3/2014
Consideration Breakout
Cash ($M)192.7

 Deal Pricing Ratios
 AnnouncementCompletion
Price / Book (%)100.05100.05
Price / Managed Receivables (%)100.05100.05
 Deal Terms
Description of Consideration
First BanCorp. paid $192.7 million in cash to acquire residential 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)NA