Press Release
Approval of the Application by BanPonce Corp, Popular International Bank, Inc, and BanPonce Financial Corp
August 26, 1996

NEW YORK - The Federal Reserve Bank of New York Monday approved the application by BanPonce Corporation, Hato Rey, Puerto Rico; Popular International Bank, Inc., Hato Rey; and BanPonce Financial Corp., Wilmington, Del., to acquire COMBANCORP, and thereby indirectly acquire COMBANCORP's wholly owned bank subsidiary, Commerce National Bank, both of City of Commerce, Calif.

According to standard procedure, the proposal cannot be completed for 15 days, pending review by the Justice Department.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.

By continuing to use our site, you agree to our Terms of Use and Privacy Statement. You can learn more about how we use cookies by reviewing our Privacy Statement.   Close