W Holding Company

W Holding Company
Company typePublic
IndustryFinance and Insurance
FoundedMayagüez, Puerto Rico, March 1, 1958; 66 years ago (March 1, 1958)
DefunctApril 30, 2010; 14 years ago (2010-04-30)
FateThe Office of the Commissioner of Financial Institutions of Puerto Rico seized it and appointed the FDIC to become the failed bank's receiver. The FDIC sold the deposits and assets to Banco Popular de Puerto Rico.
SuccessorBanco Popular
HeadquartersMayagüez, Puerto Rico
Key people
Frank C. Stipes, Chairman & CEO
ProductsBanking, checking accounts, insurance, stock brokerage, investment banking, asset-based lending, consumer finance
WebsiteArchive of www.wbpr.com/
The Westernbank logo. Its trademark El Banco del Pueblo is Spanish for The People’s Bank.

The W Holding Company was a financial holding corporation located in Mayagüez, Puerto Rico. On April 30, 2010, Westernbank, its wholly owned bank subsidiary, failed and its deposits and assets were seized by the Federal Deposit Insurance Corporation and subsequently sold to Banco Popular de Puerto Rico.[1]

  1. ^ "Cobertura especial sobre la consolidación de bancos - El Nuevo Día". www.elnuevodia.com. Archived from the original on 2010-05-03.