SAN JUAN, Puerto Rico, Sept. 18 /PRNewswire-FirstCall/ -- Popular, Inc. (the "Corporation") (NASDAQ: BPOP) today announced that it will delist its 6.375% Non-cumulative Monthly Income Preferred Stock, 2003 Series A (NASDAQ: BPOPO) and 8.25% Non-cumulative Monthly Income Preferred Stock, Series B (NASDAQ: BPOPP) (together, the "Preferred Stock") from the Nasdaq.
On September 18, 2009, the Company provided written notice to The NASDAQ Stock Market (the "Nasdaq") that the Company expects to voluntarily cease trading of the Preferred Stock on the Nasdaq, effective October 8, 2009. The Corporation has not arranged for listing and / or registration on another national securities exchange or for quotation of the Preferred Stock in a quotation medium. The Corporation initially announced its intention to delist the Preferred Stock in an exchange offer of its common stock for any and all outstanding shares of the Preferred Stock (the "Exchange Offer"). The Exchange Offer, which was conducted pursuant to a prospectus dated August 7, 2009, expired 11:59 p.m., New York City time, on August 20, 2009. For more information, please visit www.popular.com/investors.
Founded in 1893, Popular, Inc. (NASDAQ: BPOP) is the No. 1 bank by both assets and deposits in Puerto Rico and ranks 33rd by assets among U.S. banks. In the United States, Popular has established a community-banking franchise providing a broad range of financial services and products with branches in New York, New Jersey, Illinois, Florida and California.
Popular also continues to expand its expertise in processing technology through its subsidiary EVERTEC, which processes approximately 1.1 billion transactions annually in the Caribbean and Latin America.
The information included in this press release may contain certain forward-looking statements. These statements are based on management's current expectations and involve certain risks and uncertainties that may cause actual results to differ materially from those expressed in forward-looking statements. Factors that might cause such a difference include, but are not limited to (i) the rate of declining growth in the economy and employment levels, as well as general business and economic conditions; (ii) changes in interest rates, as well as the magnitude of such changes; (iii) the fiscal and monetary policies of the federal government and its agencies; (iv) changes in federal bank regulatory and supervisory policies, including required levels of capital; (v) the relative strength or weakness of the consumer and commercial credit sectors and of the real estate markets in Puerto Rico and the other markets in which borrowers are located; (vi) the performance of the stock and bond markets; (vii) competition in the financial services industry; (viii) possible legislative, tax or regulatory changes; and (ix) difficulties in combining the operations of acquired entities. For a discussion of such factors and certain risks and uncertainties to which the Corporation is subject, see the Corporation's Annual Report on Form 10-K for the year ended December 31, 2008 as well as its filings with the U.S. Securities and Exchange Commission. Other than to the extent required by applicable law, including the requirements of applicable securities laws, the Corporation assumes no obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.
Contact: Investor Relations: Jorge A. Junquera Chief Financial Officer Senior Executive Vice President 787-754-1685 Media Relations: Teruca Rullan Senior Vice President Corporate Communications 787-281-5170 or 917-679-3596 (mobile)
SOURCE Popular, Inc.
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