Complex sentence: On April 30,2010, Westernbank, its wholly owned bank subsidiary, failed and its deposits and assets were seized by the Federal Deposit Insurance Corporation and subsequently sold to Banco Popular de Puerto Rico.
Split into simpler sentences: On April 30,2010, Westernbank, its wholly owned bank subsidiary, failed and its deposits and assets were seized by the Federal Deposit Insurance Corporation. Its deposits and assets were subsequently sold to Banco Popular de Puerto Rico.