M&A Deal Summary

First Bank Acquires Doral Financial - Portfolio Of Mortgage Loans

On May 30, 2014, First Bank acquired financial services company Doral Financial - Portfolio Of Mortgage Loans from Doral Financial for 234M USD

Acquisition Highlights
  • This is First Bank’s 8th transaction in the Financial Services sector.
  • This is First Bank’s largest (disclosed) transaction.
  • This is First Bank’s 7th transaction in the United States.

M&A Deal Summary
Date 2014-05-30
Target Doral Financial - Portfolio Of Mortgage Loans
Sector Financial Services
Buyer(s) First Bank
Sellers(s) Doral Financial
Deal Type Divestiture
Deal Value 234M USD

Target

Doral Financial - Portfolio Of Mortgage Loans

United States
Portfolio of Mortgage Loans comprises a portfolio of mortgage loans with 242,100 Receivables.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

First Bank

San Juan, Puerto Rico
Category Company
Founded 1948
Sector Financial Services
Employees3,168
Revenue 897M USD (2023)
DESCRIPTION

First Bank is a financial holding company offering commercial banking, residential mortgage loan, finance lease, personal loan, small loan, auto loan, insurance, and broker dealer products and services to retail, commercial, and institutional customers primarily in Puerto Rico, and to a lesser extent in the U.S. and British Virgin Islands and Florida. First Bank was incorporated in 1948 and is based in San Juan, Puerto Rico.

DEAL STATS #
Overall 8 of 14
Sector (Financial Services) 8 of 13
Type (Divestiture) 5 of 7
Country (United States) 7 of 12
Year (2014) 1 of 2
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-30 Bank of America - Credit Card Portfolio

United States

Bank of America Credit Card Portfolio offers credit card services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-03 Doral Financial - Portfolio of Residential Mortgage Loans

United States

Portfolio of Residential Mortgage Loans comprises a portfolio of residential mortgage loans of 192,600 receivables.

Buy $193M

Seller(S) 1

SELLER

Doral Financial

San Juan, Puerto Rico
Category Company
Founded 1972
Sector Financial Services
Employees1,333
Revenue 432M USD (2013)
DESCRIPTION

Doral Financial Corp. is a community bank that has positions in mortgage banking and retail banking operations.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Divestiture) 1 of 2
Country (United States) 1 of 2
Year (2014) 1 of 2
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-03 Doral Financial - Portfolio of Residential Mortgage Loans

United States

Portfolio of Residential Mortgage Loans comprises a portfolio of residential mortgage loans of 192,600 receivables.

Sell $193M
Mergr

Product

Company

Legal