Each depositor insured to at least $250,000 per insured bank

Westernbank Puerto Rico
Mayaguez, PR
Closing Date: April 30, 2010

Winning Bidder: Banco Popular de Puerto Rico

Winning Bid: All deposits, whole bank with loss share – Asset Discount of 12.0%; Deposit Premium 0%, First Loss Tranche 0%, Equity Appreciation Instrument, Financing Note

Cover (second place) Bidder: Scotiabank de Puerto Rico, Hato Rey, Puerto Rico

Cover Bid: All deposits, whole bank with loss share – Asset Discount of 11.17%; Deposit Premium 1.66%; First Loss Tranche 0%; Value Appreciation Instrument.

Other Bidder Names:

Doral Bank, San Juan, Puerto Rico

Other Bids:

All deposits, modified whole bank with loss share – Asset Discount of 11.3%; Deposit Premium of 1%, First Loss Tranche 0%, Equity Appreciation Instrument, Financing Note.

All deposits, whole bank with loss share – Asset Discount of 11.80%; Deposit Premium of 0%, First Loss Tranche 0%, Equity Appreciation Instrument, Financing Note.

All deposits, modified whole bank with loss share – Asset Discount of 12.4%; Deposit Premium of 1%, First Loss Tranche 0%, Equity Appreciation Instrument, Financing Note.

All deposits, whole bank with loss share – Asset Discount of 15.4%; Deposit Premium of 1%, First Loss Tranche 0%, Equity Appreciation Instrument, Financing Note.

All deposits, whole bank with loss share – Asset Discount of 16.3%; Deposit Premium of 0%, First Loss Tranche 0%.

All deposits, whole bank with loss share – Asset Discount of 16.08%; Deposit Premium of 0%, First Loss Tranche 0%.

All deposits, whole bank with loss share – Asset Discount of 17.9%; Deposit Premium of 1%, First Loss Tranche 0%, Equity Appreciation Instrument, Financing Note.

Notes:

- The winning bidder's acquisition of all the deposits was the least costly resolution compared to a liquidation alternative and the other bids. The liquidation alternative was valued using valuation models to estimate the market value of the assets. The bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.

- There are more bids than bidders because one or more bidders submitted more than one bid.

- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html.