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Share Name | Share Symbol | Market | Type |
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Santander Bancorp (Holding CO) | NYSE:SBP | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 12.68 | 0.00 | 01:00:00 |
OMB APPROVAL | ||
OMB Number: 3235-0058
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SEC FILE NUMBER | ||
001-15849
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CUSIP NUMBER | ||
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(Check one): | o Form 10-K o Form 20-F o Form 11-K þ Form 10-Q o Form 10-D o Form N-SAR o Form N-CSR | |||||
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For Period Ended: | March 31, 2008 | ||||
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o Transition Report on Form 10-K | ||||||
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o Transition Report on Form 20-F | ||||||
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o Transition Report on Form 11-K | ||||||
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o Transition Report on Form 10-Q | ||||||
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o Transition Report on Form N-SAR | ||||||
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For the Transition Period Ended: | |||||
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(a) | The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense | ||||
(b) | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and | ||||
(c) | The accountants statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
SEC 1344 (05-06) | Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
(1) | Name and telephone number of person to contact in regard to this notification |
Maria Calero | 787 | 777-4437 | ||
(Name)
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(Area Code) | (Telephone Number) |
(2) | Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). | |
Yes þ No o | ||
(3) | Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? | |
Yes þ No o | ||
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made. | ||
| The Corporations net interest income for the three months ended March 31, 2008 was $84.6 million, an increase of $5.2 million, or 6.6%, compared with $79.4 million for the three months ended March 31, 2007. This improvement was mainly due to a decrease in interest expense of $13.2 million or 15.1% when compared with the same period in 2007. The average cost of funds on interest-bearing liabilities experienced a decrease of 80 basis points from 4.79% for the first quarter ended March 31, 2007 to 3.99% for the first quarter ended March 31, 2008. The interest income reflected a reduction of $8.1 million or 4.8% for the three months ended March 31, 2008 compared to the same period in 2007 due to decreases of $4.7 million or 3.2% and $2.8 million or 16.5% in interest income on loans and investment securities, respectively, for the first quarter ended March 31, 2008. | ||
| The provision for loan losses increased $17.6 million or 79.7% for the quarter ended March 31, 2008 compared to the same period in 2007. | ||
| An increase of approximately $18.3 million or 53.8% in non-interest income for the quarter ended March 31, 2008 principally attributed to higher fees in broker-dealer, asset management and insurance fees of $5.7 million, a favorable valuation adjustment on derivatives of approximately $3.9 million resulting from the adoption of new accounting standards, a net increase in gains on sale of securities and loans of approximately $2.0 million and a gain of approximately $8.6 million on the sale of a portion of the Corporations investment in Visa, Inc. in connection with the Visas Inc. initial public offering. These increases were partially offset by a unfavorable valuation adjustment of approximately $1.6 million recognized on mortgage loans held for sale. |
Date
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May 13, 2008 | By | /s/ Maria Calero | |||
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Maria Calero | |||||
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Chief Accounting Officer |
1 Year Santander Chart |
1 Month Santander Chart |
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