-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NGQ4acNu1OWY9dY9Xu2X442tpMlBgZI+ZgnDYsanA1pSx9gFBuVROljoTj2bWF8Y IuodViOAs4J+0oXWW5wHaA== 0000950144-04-008535.txt : 20040820 0000950144-04-008535.hdr.sgml : 20040820 20040820171102 ACCESSION NUMBER: 0000950144-04-008535 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040819 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040820 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POPULAR INC CENTRAL INDEX KEY: 0000763901 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 660416582 STATE OF INCORPORATION: PR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13818 FILM NUMBER: 04989532 BUSINESS ADDRESS: STREET 1: 209 MUNOZ RIVERA AVE STREET 2: POPULAR CENTER BUILDING CITY: HATO REY STATE: PR ZIP: 00918 BUSINESS PHONE: 7877659800 MAIL ADDRESS: STREET 1: P.O. BOX 362708 CITY: SAN JUAN STATE: PR ZIP: 00936-2708 FORMER COMPANY: FORMER CONFORMED NAME: BANPONCE CORP DATE OF NAME CHANGE: 19920703 8-K 1 g90660e8vk.htm POPULAR, INC. POPULAR, INC.
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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):     August 19, 2004

POPULAR, INC.

(Exact name of registrant as specified in its charter)
         
COMMONWEALTH OF PUERTO RICO   NO. 0-13818   NO. 66-0416582
  		 
  		 
 
(State or other jurisdiction of incorporation)   (Commission
File Number) 		  (IRS Employer
Identification No.)
     
209 MUÑOZ RIVERA AVENUE
HATO REY, PUERTO RICO 		  00918
  		 
 
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code:     (787) 765-9800

(Former name or former address, if changed since last report)

 

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Item 5. Other Events and Regulation FD Disclosure
Item 7. Financial Statements and Exhibits
SIGNATURE
Exhibit Index
EX-99.1 PRESS RELEASE DATED 8/18/04

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Item 5. Other Events and Regulation FD Disclosure

On August 17, 2004, Popular, Inc. (“Popular”) and Kislak Financial Corporation (“Kislak”) announced that they have reached a definitive agreement pursuant to which Popular will acquire the shares of Kislak and its wholly owned subsidiary, Kislak National Bank, a Miami, Florida-based commercial bank. Under the terms of the agreement, Kislak shareholders will receive cash for their shares in the aggregate amount of $158 million. The acquisition, subject to regulatory approval, is expected to close during the first quarter 2005.

Kislak National Bank was established in 1963 and has $998 million in total assets, $708 million in total deposits and $557 million in loans and operates eight (8) full service bank facilities in the metropolitan Miami-Dade, Broward County and Palm Beach counties. Kislak National Bank is one of the nation’s largest lenders to homeowner’s associations.

Item 7. Financial Statements and Exhibits

      Exhibit

     99.1 News release dated August 17, 2004, announcing that Popular, Inc. and Kislak Financial Corporation reached a definitive agreement.

 

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SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  POPULAR, INC.
(Registrant)
 		  
Date: August 19, 2004  By:   /s/ Ileana González    
    Name:   Ileana González   
    Title:   Senior Vice President and Comptroller   
 

 

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Exhibit Index

     
Exhibit Number
   Description
99.1
  News release, dated August 17, 2004

 

EX-99.1 2 g90660exv99w1.txt EX-99.1 PRESS RELEASE DATED 8/18/04 EXHIBIT 99.1 [BANCO POPULAR LOGO] [KISLAK NATIONAL BANK LOGO] POPULAR'S EXPANSION CONTINUES SOUTH FLORIDA ACQUISITION TO ADD EIGHT LOCATIONS CHICAGO, IL, August 17, 2004-- Popular, Inc. (Nasdaq: BPOP) and Kislak Financial Corporation announced today that they have reached a definitive agreement where Popular, Inc. will acquire the shares of Kislak Financial Corporation and its wholly owned subsidiary, Kislak National Bank, a Miami, Florida-based commercial bank. Under the terms of the agreement, Kislak shareholders will receive cash for their shares in the aggregate amount of $158 million. The acquisition, subject to regulatory approval, is expected to close during the first quarter 2005. Established in 1963, Kislak National Bank has $998 million in total assets, $708 million in total deposits and $557 million in loans. Kislak operates eight (8) full service bank facilities in the metropolitan Miami-Dade, Broward County and Palm Beach counties. Kislak National Bank is one of the nation's largest lenders to homeowner's associations. "We are excited to welcome Kislak National Bank's customers and employees to the Popular family," said Richard L. Carrion, Chairman and CEO of Popular, Inc. "Kislak has a long and proud history of serving both individuals and businesses in the community." Ranked among the 30 largest bank holding companies in the U.S., Popular, Inc. is a $40 billion bank holding company based out of San Juan, Puerto Rico, and operates two principal bank subsidiaries, Banco Popular de Puerto Rico and Banco Popular North America. In the U.S. mainland, Banco Popular North America operates over 100 full service branches in six states, including one branch in the South Florida market area and nine branch locations in Central Florida, and reported total assets of $6.1 billion and $5.1 billion in deposits at December 31, 2003. Additionally, Banco Popular operates over 118 financial services stores under the Popular Cash Express name, 14 of which are located in the Miami area. Following regulatory approval and completion of the acquisition of Kislak National Bank, Banco Popular will operate 18 branches in the Florida market with consolidated assets of approximately $1.5 billion. "This acquisition marks an important step in our commitment to expand Banco Popular's presence within our existing markets and to meet the needs of our customers and communities as we continue our journey to become the premier community bank in the markets we serve," said Roberto R. Herencia, president of Banco Popular North America. "Also, this acquisition will bring us closer to our promise to continue growing our South Florida market presence by adding convenient locations and easier access to Banco Popular's financial products and personalized service for our customers." -more- -2- Jonathan Kislak, President of Kislak Financial Corporation, said: "We are very excited about the opportunities this presents to the South Florida communities. Our customer base will benefit from Popular's emphasis on community banking, diversified product mix and wider array of services for both individuals and businesses. Popular's Hispanic heritage will also be an important asset in serving South Florida's thriving Hispanic communities." Other Highlights: - This year, Banco Popular will celebrate its 111th anniversary since it was established on October 5, 1893, in Puerto Rico. - On June 15, 2004, Popular, Inc. and Banco Popular celebrated its 110th anniversary as the first Puerto Rican financial institution to open the NASDAQ market. - The Kislak National Bank acquisition follows the recent regulatory approval of the integration between Banco Popular and Whittier, California-based Quaker City Bank. - In addition to Florida, Banco Popular North America operates branches in California, Texas, Illinois, New York and New Jersey. Banco Popular North America is the U.S. mainland bank subsidiary of Popular, Inc. Headquartered in San Juan, Puerto Rico, Popular, Inc. is a publicly owned diversified financial services company with $40 billion in assets and ranks among the country's 30 largest bank holding companies. Banco Popular presently has a total of 100 branches in California, Texas, Chicago, New York, New Jersey and Florida. In addition, Banco Popular operates 118 financial services stores under the name of Popular Cash Express. FOR ADDITIONAL INFORMATION PLEASE CONTACT: Frances I. Ryan, Banco Popular North America 847-994-5972 or 847-924-4766/ mobile fryan@bppr.com Euro RSCG Magnet Iveliesse Malave, 909-272-1888 ext. 36 or 917-4075422/ mobile imalave@magnet.com JR Communications Julie Rosenthal, 202-248-8449 or 202-486-3059/ mobile julie@jrcommunications.com # # # -----END PRIVACY-ENHANCED MESSAGE-----