Popular Association Banking Provides $14 Million Financial Package to Roney Palace Condominium Association in Miami Beach,

  Popular Association Banking Provides $14 Million Financial Package to Roney
  Palace Condominium Association in Miami Beach, Florida

Business Wire

MIAMI -- February 7, 2013

Popular Association Banking, a division of Popular Community Bank, and Roney
Palace Condominium Association announced today a financial package with a
total credit facility of $14 million for the renovation of Roney Palace, an
oceanfront luxury condo complex in South Beach, Miami Beach, Florida.

“We are pleased to assist the Roney Palace Condominium Association with the
financing to refurbish and renovate its property to comply with the 40-Year
Recertification Program of the Miami-Dade County,” said Molly Hime, Senior
Vice President and Head of Popular Association Banking. “This building is in a
highly desirable location in South Beach, and our team worked closely with the
condominium association to structure a financing package that addressed their

Built in 1971, the Roney Palace Condominium is an oceanfront luxury condo
complex situated at one of the most populous sections of South Beach. The
Roney Palace Condominium Association is responsible for the operation,
maintenance and management of the common property consisting of 564
residential units and 14 commercial condominium laundry units in one building
located at 2301 Collins Avenue in Miami Beach.

“It was a pleasure to work with the Relationship Officer Rebecca Prieto and
her highly capable colleagues at Popular Community Bank,” said Carlos
Hernandez of The Continental Group, who is the onsite Association Manager.
“They worked tirelessly and really came through for our condo association. I
highly recommend Popular Community Bank and its dedicated team, without

The Roney Palace was renovated in 2000 and the apartments were transformed
into exceptional residences. Units range in size from 600 square-foot studios
to 1,480 square-foot, two-bedroom units. The Roney Palace Condominium
Association was incorporated in 1997 as a non-profit association under the
laws of the State of Florida.

“We are grateful for the expert manner by which Popular Community Bank guided
us since day one to move our renovation plans forward,” said Mato Colak,
President of the Roney Palace Condominium Association.

Popular Association Banking, a division of Popular Community Bank, serves the
community association market exclusively and currently has an active lending
platform in 19 states. Since its inception in 1994, Popular Association
Banking has assisted more than 5,000 associations and countless residents with
just under $2 billion in loans. As of December 31, 2012, its association loan
portfolio totaled $506 million. For more information see
http://www.associationbankers.com. Popular Association Banking is
headquartered in Miami Lakes, Florida, with offices in numerous U.S.
locations, and is currently expanding into new territories.

About Popular, Inc.

Founded in 1893, Popular, Inc. is the leading banking institution by both
assets and deposits in Puerto Rico, and the 36^th largest in the U.S. by
assets. In the United States, Popular has established a community-banking
franchise that does business as Popular Community Bank, providing a broad
range of financial services and products with 93 branches in New York, New
Jersey, Illinois, Florida and California.

Services of Popular are available at branches, and online at
mypopularbanking.com. For customers seeking more information, call
1-800-377-0800 or email popularnet@bpop.com. Fine Popular Community Bank on
Facebook at facebook.com/PopularCommunityBank.


Popular Community Bank
Fran Del Valle, 212-717-5499 or 917-922-5653
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