Puerto Rico's largest bank Popular Inc is in advanced talks to sell some of its mainland branches in the United States to multiple buyers, the Wall Street Journal reported Tuesday, citing people familiar with the matter. The bank's unit in Rosemont, Illinois, could announce separate deals to sell its branches in Chicago, California and Florida as early as Wednesday, the Journal report cited people familiar with the sale process as saying.An auction for the bank's branches has been under way for about six weeks, but the terms of the sale could not be determined, the report said. (r.reuters.com/nyx68v)The report said that potential bidders for the branches include smaller banks such as Wintrust Financial Corp, Metropolitan Bank Group Inc and First Midwest Bancorp Inc .A Popular Inc spokeswoman, Gabriela Maldonado, could not be immediately reached for comment outside of regular U.S. business hours.
Popular, Inc. (Popular) is a diversified, publicly owned bank holding company. Shares of BPOP traded higher by 0.72% or $0.21/share to $29.45. In the past year, the shares have traded as low as $23.97 and as high as $34.34. On average, 986067 shares of BPOP exchange hands on a given day and today's volume is recorded at 708132.
First Midwest Bancorp, Inc. is a bank holding company with operations throughout the greater Chicago metropolitan area as well as northwest Indiana, central and western Illinois, and eastern Iowa. Shares of FMBI traded higher by 0.19% or $0.03/share to $16.18. In the past year, the shares have traded as low as $11.89 and as high as $18.49. On average, 398413 shares of FMBI exchange hands on a given day and today's volume is recorded at 355606.
The Bancorp, Inc. is a financial holding company with a wholly owned subsidiary, The Bancorp Bank (the Bank). Shares of TBBK traded higher by 0.91% or $0.17/share to $18.82. In the past year, the shares have traded as low as $12.59 and as high as $20.24. On average, 208405 shares of TBBK exchange hands on a given day and today's volume is recorded at 104369.
Wintrust Financial Corporation is a financial holding company. Shares of WTFC traded higher by 0.3% or $0.14/share to $46.93. In the past year, the shares have traded as low as $35.01 and as high as $49.99. On average, 352621 shares of WTFC exchange hands on a given day and today's volume is recorded at 205675.
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