SAN JUAN, Puerto Rico, Sept. 18 /PRNewswire-FirstCall/ -- Popular, Inc.(the "Corporation") (NASDAQ: BPOP) today announced that it will delist its6.375% 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 NASDAQStock Market (the "Nasdaq") that the Company expects to voluntarily ceasetrading of the Preferred Stock on the Nasdaq, effective October 8, 2009. TheCorporation has not arranged for listing and / or registration on anothernational securities exchange or for quotation of the Preferred Stock in aquotation medium. The Corporation initially announced its intention to delistthe Preferred Stock in an exchange offer of its common stock for any and alloutstanding shares of the Preferred Stock (the "Exchange Offer"). TheExchange 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 moreinformation, please visit www.popular.com/investors.
Founded in 1893, Popular, Inc. (NASDAQ: BPOP) is the No. 1 bank by bothassets and deposits in Puerto Rico and ranks 33rd by assets among U.S. banks.In the United States, Popular has established a community-banking franchiseproviding a broad range of financial services and products with branches inNew York, New Jersey, Illinois, Florida and California.
Popular also continues to expand its expertise in processing technologythrough its subsidiary EVERTEC, which processes approximately 1.1 billiontransactions annually in the Caribbean and Latin America.
Forward-Looking Statements:
The information included in this press release may contain certainforward-looking statements. These statements are based on management's currentexpectations and involve certain risks and uncertainties that may cause actualresults to differ materially from those expressed in forward-lookingstatements. Factors that might cause such a difference include, but are notlimited to (i) the rate of declining growth in the economy and employmentlevels, as well as general business and economic conditions; (ii) changes ininterest rates, as well as the magnitude of such changes; (iii) the fiscal andmonetary policies of the federal government and its agencies; (iv) changes infederal bank regulatory and supervisory policies, including required levels ofcapital; (v) the relative strength or weakness of the consumer and commercialcredit sectors and of the real estate markets in Puerto Rico and the othermarkets in which borrowers are located; (vi) the performance of the stock andbond markets; (vii) competition in the financial services industry; (viii)possible legislative, tax or regulatory changes; and (ix) difficulties incombining the operations of acquired entities. For a discussion of suchfactors and certain risks and uncertainties to which the Corporation issubject, see the Corporation's Annual Report on Form 10-K for the year endedDecember 31, 2008 as well as its filings with the U.S. Securities and ExchangeCommission. Other than to the extent required by applicable law, including therequirements of applicable securities laws, the Corporation assumes noobligation to update any forward-looking statements to reflect occurrences orunanticipated 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.
