Failed Bank List

Closed Friday, April 30, 2010 · Hato Rey, Puerto Rico

R-G Premier Bank of Puerto Rico

By total assets R-G Premier Bank of Puerto Rico is the 35th-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. Its estimated cost to the Deposit Insurance Fund makes it the 30th-costliest failure on FDIC record since 1934. In the three years to the fourth quarter of 2004, its assets grew 106%.

On the books, 2002 to 2010

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$2.5B$5B$7.5B$10B2003200420052006200720082009Closed
Total assets peaked at $9.0 billion and were 37% lower at the final report. Equity capital went from 6.7% of assets in the second quarter of 2002 to 3.9% at the last report. By then 22% of its loans were 90 days or more past due or no longer accruing interest. It reported a net loss in four of its final nine reporting years. The deepest annual loss, $118 million, was booked in 2010 in only part of the year.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end$120M−$120M2002: $53.5 million20027.1%2003: $65.3 million20036.4%2004: $80.7 million20044.8%2005: $96.9 million20055.1%2006: $32.4 million20065.8%2007: −$3.7 million20077.0%2008: −$114 million20085.7%2009: −$71.3 million20095.6%2010: −$118 million2010*3.9%
* 2010: January to March only, the last report before closing.

Size against the other 2010 failures

Total assets of the 157 banks that failed in 2010, log scale$1M$10M$100M$1B$10B$100B
Total assets of each 2010 failure, log scale; R-G Premier Bank of Puerto Rico in red.

It was the second-largest of the 157 bank failures in 2010. Of the 12 failed banks on record in Puerto Rico since 1934, it ranks third by size. Across the failures of 2010, the median estimated loss came to 21% of assets. In the size ranking of that year, just above it was Westernbank Puerto Rico of Mayaguez, Puerto Rico ($10.8 billion, loss 20% of assets); just below, La Jolla Bank, FSB of La Jolla, California ($3.6 billion, loss 15% of assets). Every 2010 failure in the explorer.

Regulators closed seven banks that day. The largest of the others was Westernbank Puerto Rico of Mayaguez, Puerto Rico, at $10.8 billion.

Failures in Puerto Rico

It was one of three banks in Puerto Rico to fail in 2010. The previous failure there was Banco Nacional, National Association of San Juan, on January 24, 1992. The next was Doral Bank of San Juan, on February 27, 2015. The municipality of San Juan has 7 failed banks on FDIC record since 1934. Closest in time: Union Trust Company (1983), Girod Trust Company (1984), Banco Nacional, National Association (1992), Eurobank (2010), Doral Bank (2015).

Bank failures in Puerto Rico per year, 1980 to 2026012231982: 11983: 11984: 11986: 11990: 11992: 12010: 32015: 119801990200020102020
Per year since 1980, 2010 in red. Every Puerto Rico failure

FDIC certificate 32185 · loss estimate as of July 31, 2026 · How to read this page