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ITEM 1. BUSINESS
GENERAL
W Holding Company, Inc. (the Company) is a financial holding company offering a full range
of financial services. The business of the Company is conducted primarily through its wholly-owned
commercial bank subsidiary, Westernbank Puerto Rico (Westernbank or the Bank). The Companys
other direct subsidiary is Westernbank Insurance Corp. The Company was organized under the laws of
the Commonwealth of Puerto Rico in February 1999 to become the bank holding company of Westernbank.
Westernbank was founded as a savings institution in 1958 operating in the western and southwestern
regions...