The principal activity of the company is the provision of financial services through its wholly owned subsidiary, westernbank puerto rico. the bank provides a wide range of financial services including banking and trust services. the bank operates through 35 full service branch offices located throughout puerto rico, primarily in the southwestern portion of the island and a fully functional banking site on the internet. in addition, the bank offers commercial banking and related services outside of puerto rico and a full array of trust services. in july 2000, the company became a financial holding company under the bank holding company act. interest and fees on loans accounted for 60% of 2000 revenues; Other interest income, 35% & non-interest income, 5%.