W HOLDING CO. INC. DL 1 (WKN: A0RDR4) Ausbruch ?

Hallo, da es zu diesem Wert hier keinen Thread gibt, möchte ich den hier eröffnen.

The Company

W Holding Company, Inc. (the  “Company”) (NYSE : "WHI") is a  bank holding company offering a full range of financial services. The  business of the Company is conducted through its wholly-owned commercial  bank subsidiary, Westernbank Puerto Rico (“Westernbank” or the “Bank”).  The Company was organized under the laws of the Commonwealth of Puerto  Rico in February 1999 to become the bank holding company of Westernbank.  Westernbank was founded as a savings institution in 1958 operating in  the western and southwestern regions of Puerto Rico, focusing on retail  banking and emphasizing long-term fixed-rate residential mortgage loans  on one-to-four family residential properties. In 1994, Westernbank  changed its charter to become a full-service commercial bank.  Westernbank offers a full range of business and consumer financial  services, including banking, trust and brokerage services.

In July 2000, the Company became a  financial holding company under the Bank Holding Company Act (“BHC  Act”). As a financial holding company, the Company was permitted to  engage in financial related activities, including insurance and  securities activities, provided that the Company and its banking  subsidiary met certain regulatory standards. On May 20, 2008, the  Company withdrew its financial holding company status under the BHC Act.  As a result, effective on such date the Company’s activities are  limited to those deemed closely related to banking by the Board of  Governors of the Federal Reserve System (“FRB”). The change did not have  impact in the Company’s operations and business practices.

Westernbank operates through a network  of 48 bank branches (including 11 Expresso of Westernbank branches)  located throughout Puerto Rico, including 25 in the Western and  Southwestern regions, 14 in the San Juan metropolitan area, 7 in the  Northeastern region, and 2 in the Eastern region, and a website on the  Internet. On October 3, 2008, the Emergency Economic Stabilization Act  of 2008 was enacted into law, pursuant to which, among other things, the  amount of deposit insurance provided by the Federal Deposit Insurance  Corporation (the “FDIC”) was temporarily increased from $100,000 to  $250,000 per depositor until December 31, 2009. On May 20, 2009,  President Barack Obama signed legislation that extended this temporary  increase to $250,000 per depositor through December 31, 2013. On January  1, 2014, the standard insurance amount will return to $100,000 per  depositor for all account categories, except IRAs and other certain  retirement accounts, which will remain at $250,000 per depositor.  Westernbank’s deposits, including Individual Retirement Accounts  (“IRAs”), are insured by the Deposit Insurance Fund (“DIF”), which is  administered by the FDIC, up to $250,000 per depositor.

Westernbank’s traditional banking  operations include retail operations, such as its branches, including  the branches of the Expresso division, together with consumer loans,  mortgage loans, commercial loans, investments (treasury) and deposit  products. Besides the traditional banking operations, at December 31,  2008 Westernbank operated four other divisions:

• Westernbank International  Division, which is an International Banking Entity (“IBE”)  under the Puerto Rico Act No. 52 of August 11, 1989, as amended, known  as the International Banking Center Regulatory Act, which offers  commercial banking and related services, and treasury and investment  activities outside of Puerto Rico;

• Westernbank Trust  Division, which offers a full array of trust services;

•  Expresso of Westernbank, a division which specializes in  small, unsecured consumer loans up to $15,000 and real estate  collateralized consumer loans up to $150,000; and

•  Westernbank International Trade Services, established during  the first quarter of 2006, a division which specializes in international  trade products and services.

Westernbank owns 100% of the  voting shares of:

• Westernbank  World Plaza, Inc. (“WWPI”), which owns and operates  Westernbank World Plaza; a 23-story office building, including its  related parking facility, located in Hato Rey, Puerto Rico, the main  Puerto Rican business district.

• SRG Net, Inc.,  a Puerto Rico corporation that operates an electronic funds transfer  network.

• Westernbank Insurance Corp. (“WIC”) a  general insurance agent placing property, casualty, life and disability  insurance, primarily to mortgage customers of the Company.

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