Mergers & Acquisitions

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M&A History<< Return to Mergers & Acquisitions
 Deal Overview
Buyer: First BanCorp.
Actual Acquirer: FirstBank Puerto Rico
Target: 10 Branches
Deal Type: Bank & Thrift Branch
Seller: Popular, Inc.
Agreement Date2/18/2015
Announcement Date2/27/2015
Number of Target Branches10
Branch Locations Aguadilla, PR
Bayamon (2), PR
Caguas, PR
Carolina, PR
Humacao, PR
Mayaguez, PR
San Juan (2), PR
Vega Baja, PR

Franchise Premium ($000)10,006
Tangible Book Premium/ Deposits (%)1.60
Completion Date2/27/2015

 Deal Terms
Description of Consideration
Deposits ($000)625,395
Total Assets ($000)615,389
 Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesSilver Lane Advisors LLC
SellerYesGoldman Sachs & Co. LLC

 Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesHolland & Knight LLP
SellerYesSullivan & Cromwell LLP