The story
Over the years, the name of the institution changed on various occasions. In 1988, after 9 years of operating under the name Española de Finanzas Trust Company, its name was changed to First Community Trust Company. In 1990, following the change in business strategy to lending activities focused on lines of credit to businesses and business loans to individuals of high net worth, the company changed its name to Eurobank & Trust Company. The company changed its name to EuroBancshares shortly thereafter. In view of the rapidly expanding residential home mortgage market in Puerto Rico, Eurobank established a Mortgage Division in late quarter 1999. However, after the 2008 financial crisis, the company suffered adversely, and on April 30, 2010, its deposits and assets were seized by the Federal Deposit Insurance Corporation (FDIC).
From Wikipedia’s article on EuroBancshares, shared under CC BY-SA 4.0.4