Oriental Financial (OFG) Clears Final Regulatory Hurdle in Banco Bilbao (BBVA) Asset Acquisition

December 3, 2012 1:31 PM EST
Oriental Financial Group Inc. (NYSE: OFG) today announced it has received all regulatory approvals necessary to consummate its previously announced acquisition of the Puerto Rico based operations of Banco Bilbao Vizcaya Argentaria, S.A. (NYSE: BBVA).

The acquisition has received approvals from the Federal Reserve Bank of New York, the Federal Deposit Insurance Corporation, the Office of the Commissioner of Financial Institutions of Puerto Rico and the Financial Industry Regulatory Authority.

The combination of Oriental and BBVA’s Puerto Rico operations will create a market leading bank that is strongly capitalized, locally controlled and totally focused on Puerto Rico.

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