The Houston company doesn't expect any material impact on its commercial-and-industrial book, though there is potential risk tied to residential mortgages. Management, meanwhile, has started rolling out programs to help customers recover.
The agency has a relatively new program designed to quickly get funds into disaster-stricken areas. The problem is that many bankers don't know it exists.
In the coming year, bankers in Puerto Rico will need to keep an eye on how steep cuts in government spending will affect the island’s consumers, says José Rafael Fernández, CEO of OFG Bancorp.
Their immediate effort is to ensure colleagues and clients are safe and that banking services are available to hurricane victims. The next big issue is preparing for the financial hit banks and customers will take from wind and water damage.
The Best Banks to Work For study is a collaboration between American Banker and the Best Companies Group, which conducts extensive employee surveys and reviews employer reports on benefits and policies.
The Boston company — a division of the Spanish banking giant Banco Santander — announced that the Federal Reserve has terminated a 2014 written agreement barring it from declaring dividends without central bank approval.
Bank Mutual was still in talks to buy a bank roughly its own size when it began exploring a sale. The move allowed Bank Mutual to quickly find a buyer after its planned acquisition fell through.
