Eurobank

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This article is about the bank based in Puerto Rico. For the bank based in Greece, see EFG Eurobank-Ergasias. For the bank based in Serbia, see EFG Eurobank Štedionica.

EuroBancshares, Inc.

Type	Public (NASDAQ: EUBK)
Founded	San Juan, Puerto Rico; December 4, 1979
Headquarters	San Juan, Puerto Rico
Key people	Rafael Arillaga-Torréns, Jr, Chairman, President & CEO,
Industry	Finance and Insurance
Products	Banking Checking Accounts Insurance Stock Brokerage Investment Bank Asset-Based Lending Consumer finance
Revenue	US$ 158.32 million (2005)^[1]
Net income	US$ 13.03 million (2005)^[1]
Employees	477 (2005)^[1]
Website	www.eurobankpr.com

EuroBancshares, Inc., more commonly known as Eurobank, is a financial holding company located in San Juan, Puerto Rico, which offers a full range of financial and insurance services in Puerto Rico through its wholly-owned subsidiaries Eurobank Puerto Rico and EuroSeguros, respectively. Founded on December 4, 1979, under the name of Española de Finanzas Trust Company, it has grown into a billion dollar financial institution over the past 25 years operating through a network of 21 branches (2005) in Puerto Rico. Its headquarters are located at 270 Muñoz Rivera Avenue, near the Golden Mile District or "Milla de Oro" of Hato Rey, San Juan.

Over the years, the name of the institution has 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. Since January 2006 has become one of the leading players in this competitive market gaining the respect of competitors and clients for their approach of excellence in service and not changing original numbers (percent, loan term, closing costs, etc.) given when sending the Good Faith Estimates. Euromortgage offers a wide variety of products, among them Federal Housing Administration (FHA) and Veterans Administration (VA) loans, Rural Housing Service loans, conforming conventional loans, nonconforming loans, construction loand, commercial loans, home equity mortgage loans, and other mortgage loans.