SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Popular, Inc. (the “Corporation,” “Popular,” “we,” “us,” “our”) (NASDAQ: BPOP):
| FINANCIAL HIGHLIGHTS | |||||||||||||||
($ in millions, except per share information) |
Quarters ended |
||||||||||||||
30-Sep-26 |
30-Jun-26 |
Δ vs 30-Jun-26 |
30-Sep-25 |
Δ vs 30-Sep-25 |
|||||||||||
EARNINGS |
|||||||||||||||
Net Income |
$ |
266 |
$ |
278 |
$ |
(12 |
) |
$ |
211 |
$ |
55 |
||||
PER SHARE DATA |
|||||||||||||||
Basic EPS |
$ |
4.21 |
$ |
4.35 |
$ |
(0.14 |
) |
$ |
3.15 |
$ |
1.06 |
||||
Diluted EPS |
$ |
4.21 |
$ |
4.35 |
$ |
(0.14 |
) |
$ |
3.14 |
$ |
1.07 |
||||
Tangible Book Value / Share (non-GAAP) |
$ |
86.30 |
$ |
87.94 |
$ |
(1.64 |
) |
$ |
79.12 |
$ |
7.18 |
||||
FINANCIAL CONDITION |
|||||||||||||||
Total Assets |
$ |
77,759 |
$ |
78,972 |
$ |
(1,213 |
) |
$ |
75,066 |
$ |
2,693 |
||||
Loans Held in Portfolio |
$ |
40,043 |
$ |
39,750 |
$ |
293 |
$ |
38,687 |
$ |
1,356 |
|||||
Deposits |
$ |
68,705 |
$ |
70,233 |
$ |
(1,528 |
) |
$ |
66,513 |
$ |
2,192 |
||||
Borrowings |
$ |
1,325 |
$ |
1,463 |
$ |
(138 |
) |
$ |
1,247 |
$ |
78 |
||||
CREDIT QUALITY |
|||||||||||||||
Non-Performing Loans |
$ |
466 |
$ |
413 |
$ |
53 |
$ |
502 |
$ |
(36 |
) |
||||
NPL Ratio |
1.16 |
% |
1.04 |
% |
12 bps |
1.30 |
% |
-14 bps |
|||||||
NCO Ratio |
0.73 |
% |
1.05 |
% |
-32 bps |
0.60 |
% |
13 bps |
|||||||
ACL / Total Loans |
1.92 |
% |
1.97 |
% |
-5 bps |
2.03 |
% |
-11 bps |
|||||||
ACL / NPLs |
165 |
% |
190 |
% |
(25 |
)% |
157 |
% |
8 |
% |
|||||
CAPITAL & LIQUIDITY |
|||||||||||||||
Common Equity Tier 1 |
16.06 |
% |
16.08 |
% |
-2 bps |
15.79 |
% |
27 bps |
|||||||
Tier 1 Risk-Based Capital |
16.12 |
% |
16.13 |
% |
-1 bps |
15.84 |
% |
28 bps |
|||||||
Total Risk-Based Capital |
17.84 |
% |
17.85 |
% |
-1 bps |
17.58 |
% |
26 bps |
|||||||
Tier 1 Leverage |
8.52 |
% |
8.57 |
% |
-5 bps |
8.48 |
% |
4 bps |
|||||||
Capital Returned to Shareholders |
$ |
236 |
$ |
174 |
$ |
62 |
$ |
170 |
$ |
66 |
|||||
FINANCIAL RATIOS |
|||||||||||||||
Net Interest Margin ("NIM") |
3.63 |
% |
3.66 |
% |
-3 bps |
3.51 |
% |
12 bps |
|||||||
NIM (FTE) (non-GAAP) |
4.16 |
% |
4.17 |
% |
-1 bps |
3.90 |
% |
26 bps |
|||||||
Total Deposit Costs |
1.64 |
% |
1.57 |
% |
7 bps |
1.79 |
% |
-15 bps |
|||||||
ROTCE (non-GAAP) |
15.80 |
% |
17.02 |
% |
-122 bps |
13.06 |
% |
274 bps |
|||||||
ROA |
1.32 |
% |
1.41 |
% |
-9 bps |
1.09 |
% |
23 bps |
|||||||
The financial information in this earnings release includes non-GAAP financial measures. These measures are intended to supplement, and should not be considered a substitute for, GAAP results. See the "Non-GAAP Financial Measures" section for additional information; and Table R - Reconciliation to GAAP Financial Measures. All financial information in this release, including the accompanying tables, is unaudited. |
CEO COMMENTARY |
Jorge J. García, President and Chief Executive Officer, said:
"We are pleased with our third quarter results. Our financial performance was solid, and we continued to advance our three strategic objectives: being the number one bank for our customers, being simple and efficient, and being a top-performing bank."
"We reported earnings per share of $4.21, 3% lower than the second quarter and 34% higher than the third quarter of 2025, and a ROTCE of 15.80%. These results reflected higher net interest income, stable underlying credit trends and continued capital return, partially offset by higher operating expenses and lower non-interest income. During the quarter, we repurchased $179 million of common stock and declared a 20% increase in our quarterly common stock dividend to $0.90 per share."
"Business activity in Puerto Rico remains healthy, supported by a strong labor market. Credit metrics continue to be stable while we remain attentive to economic conditions, given the potential impact of prolonged inflation and higher cost of fuel and energy."
"It is a privilege to step into this role with a strong capital position, a solid banking franchise, a talented team and meaningful momentum. Our responsibility is to build on those strengths and continue creating long-term value for our customers, shareholders, colleagues, and communities."
"I am grateful to our team for their commitment and the results they deliver every day."
EARNINGS HIGHLIGHTS |
||||||||||||
Quarters ended |
||||||||||||
(Dollars in thousands) |
30-Sep-26 |
30-Jun-26 |
Δ vs 30-Jun-26 |
30-Sep-25 |
Δ vs 30-Sep-25 |
|||||||
Net interest income |
$ |
698,930 |
$ |
693,419 |
$ |
5,511 |
$ |
646,505 |
$ |
52,425 |
||
Provision for credit losses |
58,593 |
65,873 |
(7,280 |
) |
75,125 |
(16,532 |
) |
|||||
Net interest income after provision for credit losses |
640,337 |
627,546 |
12,791 |
571,380 |
68,957 |
|||||||
Non-Interest Income |
175,658 |
180,545 |
(4,887 |
) |
171,195 |
4,463 |
||||||
Operating expenses |
505,590 |
484,130 |
21,460 |
495,287 |
10,303 |
|||||||
Income before income tax |
310,405 |
323,961 |
(13,556 |
) |
247,288 |
63,117 |
||||||
Income tax expense |
44,071 |
45,747 |
(1,676 |
) |
35,971 |
8,100 |
||||||
Net income |
$ |
266,334 |
$ |
278,214 |
$ |
(11,880 |
) |
$ |
211,317 |
$ |
55,017 |
|
Net income per common share-basic |
$ |
4.21 |
$ |
4.35 |
$ |
(0.14 |
) |
$ |
3.15 |
$ |
1.06 |
|
Net income per common share-diluted |
$ |
4.21 |
$ |
4.35 |
$ |
(0.14 |
) |
$ |
3.14 |
$ |
1.07 |
|
| NET INTEREST INCOME (“NII”) AND NET INTEREST MARGIN (“NIM”) | |||||||||||||
(Dollars in thousands) |
Quarters ended |
||||||||||||
Popular, Inc. |
30-Sep-26 |
30-Jun-26 |
Δ vs 30-Jun-26 |
30-Sep-25 |
Δ vs 30-Sep-25 |
||||||||
Net interest income |
$ |
698,930 |
$ |
693,419 |
$ |
5,511 |
$ |
646,505 |
$ |
52,425 |
|||
Net interest margin |
3.63 |
% |
3.66 |
% |
-3 bps |
3.51 |
% |
12 bps |
|||||
Net interest margin FTE [1] |
4.16 |
% |
4.17 |
% |
-1 bps |
3.90 |
% |
26 bps |
|||||
Total deposit costs |
1.64 |
% |
1.57 |
% |
7 bps |
1.79 |
% |
-15 bps |
|||||
Core deposit costs (ex. P.R. public deposits) |
1.13 |
% |
1.10 |
% |
3 bps |
1.17 |
% |
-4 bps |
|||||
Loan yields FTE [1] |
7.56 |
% |
7.53 |
% |
3 bps |
7.49 |
% |
7 bps |
|||||
Money market and investment securities yield FTE [1] |
3.82 |
% |
3.69 |
% |
13 bps |
3.59 |
% |
23 bps |
|||||
Banco Popular de Puerto Rico ("BPPR") Segment |
|||||||||||||
Net interest income |
$ |
592,006 |
$ |
589,922 |
$ |
2,084 |
$ |
550,716 |
$ |
41,290 |
|||
Net interest margin |
3.81 |
% |
3.85 |
% |
-4 bps |
3.71 |
% |
10 bps |
|||||
Total deposit costs |
1.41 |
% |
1.32 |
% |
9 bps |
1.53 |
% |
-12 bps |
|||||
Popular Bank ("PB" or "Popular US") Segment |
|||||||||||||
Net interest income |
$ |
116,659 |
$ |
113,076 |
$ |
3,583 |
$ |
105,203 |
$ |
11,456 |
|||
Net interest margin |
3.20 |
% |
3.17 |
% |
3 bps |
2.94 |
% |
26 bps |
|||||
Total deposit costs |
2.74 |
% |
2.73 |
% |
1 bps |
2.96 |
% |
-22 bps |
|||||
[1] Refer to non-GAAP measures section in this earnings release. |
|||||||||||||
Popular, Inc. – Net interest income ("NII") of $699 million increased $6 million from Q2 2026, driven by higher income from investment securities and commercial loans, as well as the impact of one additional day in the quarter. The increase was partially offset by higher interest expense on deposits, primarily reflecting higher average balances of public deposits and higher rates on such deposits. Average earning assets increased $677 million, primarily attributable to higher U.S. Treasury securities balances due to re-investment of maturities at higher yields, coupled with higher average commercial loans. Total average deposits increased by $502 million, driven by an average increase of $1.1 billion in Puerto Rico public deposits, partially offset by average decreases of $280 million in savings accounts, mainly retail deposits, and $362 million in non-interest-bearing demand deposits. Excluding P.R. public deposits, total average deposits decreased by $619 million.
Net interest margin ("NIM") decreased three basis points to 3.63%. Loan yields increased by one basis point to 7.24%. Deposit costs increased by seven basis points to 1.64%. Excluding P.R. public deposits, deposit costs increased three basis points to 1.13%. The additional day in the quarter contributed $6 million to net interest income in Q3 2026.
NII fully taxable equivalent ("FTE") and NIM FTE (Non-GAAP) – NII FTE of $802 million increased $13 million from Q2 2026, while NIM FTE decreased 1 basis point to 4.16%. Money market and investment securities yields FTE increased by 13 basis points, mainly driven by purchases and re-investment of maturities into higher yielding U.S. Treasury securities. Loan yields FTE increased by three basis points to 7.56%.
Interest income on a taxable equivalent basis is presented to show the effect of tax-exempt interest income from U.S. Treasury securities, certain GNMA securities and certain loans in BPPR's portfolios that are exempt from Puerto Rico income taxes.
Refer to tables D, E and F for more details on the components of NII and NIM on a taxable equivalent basis.
Banco Popular de Puerto Rico ("BPPR") Segment – NII of $592 million increased $2 million from Q2 2026. The increase was primarily due to an increase in income from money market and investment securities by $14 million or 10 basis points as a result of higher average balances and higher yields of U.S. Treasury securities and higher income from loans by $5 million, driven by higher average balances, mainly in the mortgage and personal loans portfolios and by one additional day in the quarter. Higher interest expense on deposits of $17 million was primarily due to higher average balances on the market-linked P.R. public deposits by $1.1 billion and an 11 basis points increase in the rates of those deposits. NIM declined four basis points during Q3 2026 to 3.81%. Deposit costs increased by nine basis points to 1.41%, including the costs of P.R. public deposits which increased 11 basis points to 2.72% for the period. Excluding P.R. public deposits, deposit costs increased by two basis points.
Popular Bank ("PB") Segment – NII of $117 million increased $4 million, or 3%, from Q2 2026. The increase was mainly due to higher income from loans by $6 million, mainly due to commercial loans with higher income by $8 million and higher yields by 11 basis points, driven by new originations carrying higher yields, partially offset by higher interest expense by $1 million attributable to higher average balances on time deposits. NIM expanded three basis points to 3.20%. Deposit costs increased by one basis point to 2.74%.
NON-INTEREST INCOME |
||||||||||||
Quarters ended |
||||||||||||
(Dollars in thousands) |
30-Sep-26 |
30-Jun-26 |
Δ vs 30-Jun-26 |
30-Sep-25 |
Δ vs 30-Sep-25 |
|||||||
Service charges on deposits |
$ |
37,106 |
$ |
39,037 |
$ |
(1,931 |
) |
$ |
39,077 |
$ |
(1,971 |
) |
Debit card fees |
30,841 |
31,538 |
(697 |
) |
28,084 |
2,757 |
||||||
Credit card fees |
35,270 |
34,783 |
487 |
32,668 |
2,602 |
|||||||
Other fees |
12,662 |
12,136 |
526 |
11,172 |
1,490 |
|||||||
Banking fees |
$ |
115,879 |
$ |
117,494 |
$ |
(1,615 |
) |
$ |
111,001 |
$ |
4,878 |
|
Insurance fees |
12,893 |
12,586 |
307 |
12,995 |
(102 |
) |
||||||
Brokerage and asset management fees |
11,007 |
9,998 |
1,009 |
9,459 |
1,548 |
|||||||
Trust fees |
7,911 |
7,751 |
160 |
6,998 |
913 |
|||||||
Asset management and insurance fees |
$ |
31,811 |
$ |
30,335 |
$ |
1,476 |
$ |
29,452 |
$ |
2,359 |
||
Mortgage banking activities |
4,852 |
6,267 |
(1,415 |
) |
2,771 |
2,081 |
||||||
Other operating income |
23,116 |
26,449 |
(3,333 |
) |
27,971 |
(4,855 |
) |
|||||
Non-interest income |
$ |
175,658 |
$ |
180,545 |
$ |
(4,887 |
) |
$ |
171,195 |
$ |
4,463 |
|
Non-interest income of $176 million decreased $5 million, or 3%, from Q2 2026.
Key drivers:
Banking fees decreased $2 million to $116 million, mainly due to a decrease in service charges on deposits driven by a new deposit product launched during the month of August, which offers $0 service fees to clients that meet certain criteria.
Other operating income decreased $3 million to $23 million, driven by a $3 million unrealized investment gain recognized in Q2, a $2 million impairment charge on certain equity investments, and a $2 million lower favorable valuation adjustment of securities held for deferred benefit plans, which have an offsetting effect in personnel costs. These were partially offset by a $5 million benefit recognized in other income in connection with the refinancing of a commercial loan during the quarter.
Refer to Table B for further details.
OPERATING EXPENSES |
||||||||||||
Quarters ended |
||||||||||||
(Dollars in thousands) |
30-Sep-26 |
30-Jun-26 |
Δ vs 30-Jun-26 |
30-Sep-25 |
Δ vs 30-Sep-25 |
|||||||
Salaries |
$ |
141,357 |
$ |
134,448 |
$ |
6,909 |
$ |
139,350 |
$ |
2,007 |
||
Commissions and incentives |
42,709 |
39,911 |
2,798 |
35,309 |
7,400 |
|||||||
Profit sharing |
15,097 |
10,000 |
5,097 |
13,000 |
2,097 |
|||||||
Pension, postretirement and other |
45,907 |
44,672 |
1,235 |
45,329 |
578 |
|||||||
Total personnel costs |
$ |
245,070 |
$ |
229,031 |
$ |
16,039 |
$ |
232,988 |
$ |
12,082 |
||
Technology and software |
90,068 |
90,971 |
(903 |
) |
87,117 |
2,951 |
||||||
Professional fees |
25,587 |
24,484 |
1,103 |
25,808 |
(221 |
) |
||||||
Business promotion |
28,428 |
27,900 |
528 |
27,304 |
1,124 |
|||||||
Transactional services |
39,670 |
37,266 |
2,404 |
38,408 |
1,262 |
|||||||
Net occupancy |
29,157 |
27,764 |
1,393 |
26,083 |
3,074 |
|||||||
Other operating expenses |
47,610 |
46,714 |
896 |
57,579 |
(9,969 |
) |
||||||
Operating Expenses |
$ |
505,590 |
$ |
484,130 |
$ |
21,460 |
$ |
495,287 |
$ |
10,303 |
||
Total operating expenses of $506 million increased $21 million, or 4%, from Q2 2026.
Key drivers: Personnel costs increased by $16 million, or 7%, driven by higher salaries by $7 million due to annual salary and merit increases effective in Q3 combined with one additional day in the quarter and higher incentives by $8 million, including $5 million related to profit-sharing and $3 million related to short-term incentives, both of which are tied to the Corporation's financial performance.
Full-time equivalent employees were 9,112 as of September 30, 2026, compared to 9,203 as of June 30, 2026.
Transactional services increased $2 million, driven by a retroactive credit of $1.6 million recorded in Q2 and higher card supplies expenses. Net occupancy expenses increased $1 million, primarily due to repair projects across the Corporation. Professional fees increased $1 million, mainly due to costs associated with corporate initiatives.
For a breakdown of operating expenses by category in the consolidated statement of operations refer to Table B.
INCOME TAXES |
For the third quarter of 2026, the Corporation recorded an income tax expense of $44 million, a decrease of $2 million when compared to $46 million in the previous quarter.
The effective tax rate ("ETR") of the Corporation is impacted by the composition and source of its taxable income and tax credit activities. The ETR for the third quarter of 2026 was 14.2%, consistent with the previous quarter's ETR of 14.1%, primarily driven by the recognition of tax-exempt income and other tax benefits, such as the purchase of tax credits.
CREDIT QUALITY |
|||||||||||||||
Credit Quality Metrics |
|||||||||||||||
(Dollars in thousands) |
Quarters ended |
||||||||||||||
Popular, Inc. |
30-Sep-26 |
30-Jun-26 |
Δ vs 30-Jun-26 |
30-Sep-25 |
Δ vs 30-Sep-25 |
||||||||||
Provision for credit losses - loan portfolios |
$ |
58,788 |
$ |
65,154 |
$ |
(6,366 |
) |
$ |
74,517 |
$ |
(15,729 |
) |
|||
Net charge-offs |
72,936 |
104,053 |
(31,117 |
) |
57,788 |
15,148 |
|||||||||
ACL - loans held-in-portfolio |
770,687 |
784,832 |
(14,145 |
) |
786,220 |
(15,533 |
) |
||||||||
Annualized net charge-offs to average loans held-in-portfolio |
0.73 |
% |
1.05 |
% |
(32) bps |
0.60 |
% |
13 bps |
|||||||
NPL Ratio |
1.16 |
% |
1.04 |
% |
12 bps |
1.30 |
% |
(14) bps |
|||||||
Allowance / loans held-in-portfolio |
1.92 |
% |
1.97 |
% |
(5) bps |
2.03 |
% |
(11) bps |
|||||||
Non-performing assets |
510,084 |
546,694 |
(36,610 |
) |
545,152 |
(35,068 |
) |
||||||||
Non-performing loans held-in-portfolio |
465,785 |
413,437 |
52,348 |
502,202 |
(36,417 |
) |
|||||||||
Non-performing loans held-for-sale |
— |
83,700 |
(83,700 |
) |
— |
— |
|||||||||
Other real estate owned ("OREO") |
44,299 |
49,557 |
(5,258 |
) |
42,950 |
1,349 |
|||||||||
Allowance / non-performing loans held-in-portfolio |
165 |
% |
190 |
% |
(25 |
)% |
157 |
% |
8 |
% |
|||||
(Dollars in thousands) |
Quarters ended |
||||||||||||||
BPPR |
30-Sep-26 |
30-Jun-26 |
Δ vs 30-Jun-26 |
30-Sep-25 |
Δ vs 30-Sep-25 |
||||||||||
Provision for credit losses - loan portfolios |
$ |
61,329 |
$ |
61,738 |
$ |
(409 |
) |
$ |
72,639 |
$ |
(11,310 |
) |
|||
Net charge-offs |
72,077 |
101,688 |
(29,611 |
) |
56,539 |
15,538 |
|||||||||
Total non-performing loans held-in-portfolio |
421,954 |
367,824 |
54,130 |
453,369 |
(31,415 |
) |
|||||||||
ACL - loans held-in-portfolio |
681,542 |
692,287 |
(10,745 |
) |
695,355 |
(13,813 |
) |
||||||||
Annualized net charge-offs to average loans held-in-portfolio |
1.03 |
% |
1.46 |
% |
(43) bps |
0.84 |
% |
19 bps |
|||||||
Allowance / loans held-in-portfolio |
2.41 |
% |
2.47 |
% |
(6) bps |
2.56 |
% |
(15) bps |
|||||||
Allowance / non-performing loans held-in-portfolio |
162 |
% |
188 |
% |
(26 |
)% |
153 |
% |
9 |
% |
|||||
(Dollars in thousands) |
Quarters ended |
||||||||||||||
Popular U.S. |
30-Sep-26 |
30-Jun-26 |
Δ vs 30-Jun-26 |
30-Sep-25 |
Δ vs 30-Sep-25 |
||||||||||
Provision for credit losses (benefit) - loan portfolios |
$ |
(2,541 |
) |
$ |
3,416 |
$ |
(5,957 |
) |
$ |
1,878 |
$ |
(4,419 |
) |
||
Net charge-offs |
859 |
2,365 |
(1,506 |
) |
1,249 |
(390 |
) |
||||||||
Total non-performing loans held-in-portfolio |
43,831 |
45,613 |
(1,782 |
) |
48,833 |
(5,002 |
) |
||||||||
ACL - loans held-in-portfolio |
89,145 |
92,545 |
(3,400 |
) |
90,865 |
(1,720 |
) |
||||||||
Annualized net charge-offs to average loans held-in-portfolio |
0.03 |
% |
0.08 |
% |
(5) bps |
0.04 |
% |
(1) bps |
|||||||
Allowance / loans held-in-portfolio |
0.76 |
% |
0.79 |
% |
(3) bps |
0.79 |
% |
(3) bps |
|||||||
Allowance / non-performing loans held-in-portfolio |
203 |
% |
203 |
% |
— |
% |
186 |
% |
17 |
% |
|||||
During the third quarter of 2026, the Corporation’s overall credit quality remained stable. Consumer and mortgage portfolio performance remained favorable, with historically low net charge-offs (despite a slight seasonal increase in the auto portfolio), historically low delinquency levels, and net recoveries in the mortgage portfolio. Changes in commercial credit metrics during the quarter were driven by borrower-specific developments; core commercial portfolios continue to show stable credit trends.
Non-Performing Loans ("NPLs") and Net Charge Offs ("NCOs")
Total NPLs held-in-portfolio increased $52 million to $466 million during Q3 2026. Excluding consumer loans, inflows of NPLs held-in-portfolio decreased $56 million in the third quarter of 2026. The ratio of NPLs to total loans held in the portfolio was 1.16% for the third quarter of 2026, compared to 1.04% for the previous quarter. NPLs held-for-sale decreased $84 million driven by the sale during Q3 of an NPL held-for-sale.
NCO Ratio of 0.73% decreased 32 basis points when compared to the previous quarter. Total NCOs decreased by $31 million quarter-over-quarter, reflecting lower commercial charge-offs.
BPPR segment - NPLs held-in-portfolio increased $54 million, primarily driven by a $52 million increase in commercial NPLs. The increase includes the inflow to NPL of a $74 million commercial and industrial ("C&I") loan, partially offset by a $34 million partial charge-off related to a commercial NPL that had entered non-performing status in the prior quarter. These events are considered borrower-specific and are not indicative of broader deterioration in the commercial portfolio. Excluding consumer loans, BPPR segment NPL inflows decreased $45 million compared to the prior quarter.
NCOs decreased $30 million, primarily reflecting lower commercial charge-offs by $38 million. This variance resulted from the prior quarter, which included the resolution of a commercial relationship that resulted in a $71 million charge-off, partially offset by the previously mentioned commercial charge-off of $34 million in Q3 2026. NCO Ratio of 1.03% decreased 43 basis points quarter-over-quarter.
PB segment - NPLs held-in-portfolio decreased by $2 million, while inflows to NPLs, excluding consumer loans, decreased $11 million compared to the previous quarter. NCO Ratio of 0.03%, decreased five basis points during the quarter.
Refer to table L for a breakdown of Non-Performing Assets.
Allowance for loan losses ("ACL")
The ACL as of September 30, 2026 amounted to $771 million, a decrease of $14 million when compared to the second quarter of 2026. The decline was driven primarily by improved consumer credit performance, in part offset by higher reserves for specific commercial exposures.
BPPR segment - The ACL decreased by $11 million compared to the previous quarter, mostly driven by a $17 million decrease in reserves for consumer loans due to favorable changes in the credit composition of the auto and personal loans portfolios. These decreases were partially offset by higher reserves for commercial loans, mostly associated with C&I NPL inflows during the last two quarters, changes in macroeconomic scenarios and reserve build-up due to loan growth.
PB segment - The ACL amounted to $89 million, a decrease of $3 million quarter-over-quarter, reflecting lower reserves for construction loans by $2 million, mostly due to lower loan volumes.
Provision for credit losses
Provision for loan losses of $59 million for the third quarter of 2026 decreased by $6 million when compared to the prior quarter, primarily driven by lower reserve requirements in the PB segment and favorable changes in the macroeconomic scenarios. Including the provision for unfunded loan commitments and the provision related to the Corporation’s investment portfolio, the provision for credit losses for the third quarter was $59 million.
Refer to tables N, O, P and Q for more details on the Allowance for Credit Losses.
BALANCE SHEET |
||||||||||||
Quarters ended |
||||||||||||
(In thousands) |
30-Sep-26 |
30-Jun-26 |
Δ vs 30-Jun-26 |
30-Sep-25 |
Δ vs 30-Sep-25 |
|||||||
Cash and due from banks |
$ |
373,329 |
$ |
365,013 |
$ |
8,316 |
$ |
377,079 |
$ |
(3,750 |
) |
|
Money market and investment securities |
34,287,567 |
35,820,187 |
(1,532,620 |
) |
33,126,064 |
1,161,503 |
||||||
Loans |
40,042,656 |
39,749,862 |
292,794 |
38,687,158 |
1,355,498 |
|||||||
Total assets |
77,758,872 |
78,972,300 |
(1,213,428 |
) |
75,065,798 |
2,693,074 |
||||||
Deposits |
68,704,991 |
70,233,115 |
(1,528,124 |
) |
66,513,404 |
2,191,587 |
||||||
Borrowings |
1,325,246 |
1,462,831 |
(137,585 |
) |
1,246,807 |
78,439 |
||||||
Total liabilities |
71,520,028 |
72,539,295 |
(1,019,267 |
) |
68,950,126 |
2,569,902 |
||||||
Stockholders’ equity |
6,238,844 |
6,433,005 |
(194,161 |
) |
6,115,672 |
123,172 |
||||||
Total assets - Total assets of $77.8 billion decreased $1.2 billion from the second quarter of 2026, primarily due to a $1.5 billion decrease in money market and investment securities. The decrease resulted mainly from lower reinvestment of maturing U.S. Treasury securities in Q3 to fund scheduled P.R. public deposit outflows towards the end of the quarter. Loans held-in-portfolio increased $293 million, mainly due to an increase of $268 million in the BPPR segment across most portfolios and an increase of $25 million in the PB segment, primarily in commercial loans.
Total liabilities - Total liabilities decreased $1.0 billion from the second quarter of 2026, mainly reflecting a $1.5 billion decrease in deposits, including $1.2 billion in P.R. public deposits as a result of operational needs and scheduled payment commitments, coupled with a $188 million decrease in short-term borrowings due to lower FHLB advances at PB. This was partially offset by a $646 million increase in other liabilities, primarily from U.S. Treasury purchases pending to be settled at period end.
Stockholders’ equity - Stockholders' equity decreased $194 million when compared to the second quarter of 2026, mainly driven by $255 million in unrealized losses on debt securities available-for-sale ("AFS"), $179 million of common stock repurchases, and $57 million of common and preferred dividends declared. This was offset by $266 million of net income and $31 million of amortization of unrealized losses on securities previously reclassified to held-to-maturity ("HTM"), net of tax.
| LOANS AND DEPOSITS BY CATEGORY | ||||||||||||
Quarters ended 30-Sep-26 |
||||||||||||
(Dollars in thousands) |
BPPR |
% |
PB |
% |
POPULAR |
% |
||||||
Loans held-in-portfolio: |
||||||||||||
Commercial multi-family |
$ |
344,761 |
1 |
% |
$ |
2,052,220 |
17 |
% |
$ |
2,396,981 |
6 |
% |
Commercial real estate non-owner occupied |
3,407,255 |
12 |
% |
2,435,485 |
21 |
% |
5,842,740 |
15 |
% |
|||
Commercial real estate owner occupied |
1,205,279 |
4 |
% |
2,206,921 |
19 |
% |
3,412,200 |
9 |
% |
|||
Commercial and industrial |
6,090,151 |
22 |
% |
2,618,907 |
23 |
% |
8,709,058 |
22 |
% |
|||
Construction |
469,687 |
2 |
% |
1,116,186 |
9 |
% |
1,585,873 |
4 |
% |
|||
Mortgage |
7,645,377 |
27 |
% |
1,214,808 |
10 |
% |
8,860,185 |
22 |
% |
|||
Leasing |
1,952,125 |
7 |
% |
— |
— |
% |
1,952,125 |
5 |
% |
|||
Consumer: |
||||||||||||
Credit cards |
1,260,047 |
4 |
% |
6 |
— |
% |
1,260,053 |
3 |
% |
|||
Home equity lines of credit |
1,818 |
— |
% |
86,788 |
1 |
% |
88,606 |
— |
% |
|||
Personal |
1,942,250 |
7 |
% |
52,010 |
— |
% |
1,994,260 |
5 |
% |
|||
Auto |
3,756,459 |
13 |
% |
— |
— |
% |
3,756,459 |
9 |
% |
|||
Other |
169,489 |
1 |
% |
14,627 |
— |
% |
184,116 |
— |
% |
|||
Total loans held-in-portfolio |
$ |
28,244,698 |
100 |
% |
$ |
11,797,958 |
100 |
% |
$ |
40,042,656 |
100 |
% |
The Corporation maintained a diversified loan portfolio at September 30, 2026, with approximately 71% of loan balances in its main market of Puerto Rico and with 56% of its consolidated loan portfolio consisting of real estate-related loans, including residential mortgage loans, construction loans, commercial multi-family, and commercial loans secured by commercial real estate.
Quarters ended 30-Sep-26 |
||||||||||||
(Dollars in thousands) |
BPPR |
% |
PB [2] |
% |
POPULAR |
% |
||||||
Non-public deposits: |
||||||||||||
Demand deposits |
$ |
13,681,494 |
24 |
% |
$ |
1,483,396 |
12 |
% |
$ |
15,005,068 |
22 |
% |
Savings, NOW and money market deposits (non-brokered) |
17,038,109 |
30 |
% |
6,194,032 |
51 |
% |
23,037,725 |
34 |
% |
|||
Savings, NOW and money market deposits (brokered) |
75,278 |
— |
% |
— |
— |
% |
75,278 |
— |
% |
|||
Time deposits (non-brokered) |
4,646,473 |
8 |
% |
3,583,416 |
30 |
% |
8,227,389 |
12 |
% |
|||
Time deposits (brokered CDs) |
— |
— |
% |
893,371 |
7 |
% |
893,371 |
1 |
% |
|||
Total Non-public deposits: |
35,441,354 |
62 |
% |
12,154,215 |
100 |
% |
47,238,831 |
69 |
% |
|||
P.R public deposits: |
||||||||||||
Demand Deposits [1] |
11,033,195 |
19 |
% |
— |
— |
% |
11,033,195 |
16 |
% |
|||
Savings, NOW and money market deposits (non-brokered) |
9,515,457 |
17 |
% |
— |
— |
% |
9,515,457 |
14 |
% |
|||
Time deposits (non-brokered) |
917,508 |
2 |
% |
— |
— |
% |
917,508 |
1 |
% |
|||
Total P.R. public deposits |
21,466,160 |
38 |
% |
— |
— |
% |
21,466,160 |
31 |
% |
|||
Total deposits |
$ |
56,907,514 |
100 |
% |
$ |
12,154,215 |
100 |
% |
$ |
68,704,991 |
100 |
% |
[1] Includes interest bearing demand deposits. |
||||||||||||
[2] PB deposits include intercompany deposits, which are eliminated at the consolidated level. |
||||||||||||
Total deposits were $68.7 billion as of the end of Q3 2026, reflecting a diversified funding base across retail, commercial and public sector.
P.R. public deposits stood at $21.5 billion, representing 31% of total deposits. We expect P.R. public deposits to be in the range of $20-22 billion for the rest of the year.
CAPITAL POSITION |
||||||||||||||
Quarters ended |
||||||||||||||
(In thousands) |
30-Sep-26 |
30-Jun-26 |
Δ vs
|
30-Sep-25 |
Δ vs
|
|||||||||
Capital Position |
||||||||||||||
Common equity per share |
$ |
98.94 |
$ |
100.38 |
$ |
(1.44 |
) |
$ |
91.00 |
$ |
7.94 |
|||
Tangible common book value per common share (non-GAAP) [1] |
$ |
86.30 |
$ |
87.94 |
$ |
(1.64 |
) |
$ |
79.12 |
$ |
7.18 |
|||
Tangible common book value to tangible assets (non-GAAP) [1] |
7.05 |
% |
7.18 |
% |
-13 bps |
7.13 |
% |
-8 bps |
||||||
Return on average tangible common equity before adjusting for the impact of unrealized (gains) losses on AFS securities including those transferred to HTM (non-GAAP) [1] |
18.76 |
% |
20.12 |
% |
-136 bps |
13.83 |
% |
493 bps |
||||||
ROTCE (non-GAAP) [1] |
15.80 |
% |
17.02 |
% |
-122 bps |
13.06 |
% |
274 bps |
||||||
Regulatory Capital |
||||||||||||||
Common Equity Tier 1 capital |
16.06 |
% |
16.08 |
% |
-2 bps |
15.79 |
% |
27 bps |
||||||
Tier 1 capital |
16.12 |
% |
16.13 |
% |
-1 bps |
15.84 |
% |
28 bps |
||||||
Total capital |
17.84 |
% |
17.85 |
% |
-1 bps |
17.58 |
% |
26 bps |
||||||
Tier 1 leverage |
8.52 |
% |
8.57 |
% |
-5 bps |
8.48 |
% |
4 bps |
||||||
[1] Refer to Table R for the reconciliation to most comparable GAAP measures. |
||||||||||||||
The Corporation's Common Equity Tier 1 capital ratio was 16.06% at September 30, 2026, decreasing by two basis points when compared to Q2 2026, primarily driven by common stock repurchases, dividends, and change in risk weighted assets, partially offset by net income. Tangible common book value per common share decreased to $86.30, driven by higher unrealized losses on investment securities AFS, common stock repurchases and dividends, partially offset by net income for Q3. Common equity per share decreased to $98.94.
Refer to Table A for capital ratios and Table R for a reconciliation of the non-GAAP financial measures presented above to the most comparable GAAP financial measures.
Capital Actions – During the quarter and nine months ended September 30, 2026, Popular repurchased 1,060,241 shares of common stock for $179 million at an average price of $168.40 per share and 3,049,008 shares of common stock for $459 million at an average price of $150.55 per share, respectively. Common stock repurchases and dividends on preferred and common stock combined represented capital returned to shareholders of $236 million during the quarter and $614 million for the nine months ended September 30, 2026.
ROTCE (non-GAAP) – Return on average tangible common equity, adjusted to add-back unrealized (gains) losses on AFS securities, including those transferred to HTM (as so adjusted, "ROTCE"), decreased to 15.80% in Q3 2026, down from 17.02% in Q2 2026. The Corporation has established a ROTCE annual target of 14% to 17%. We believe that adding back the impact of unrealized (gains) losses on AFS securities including those transferred to HTM to the denominator provides meaningful information about the Corporation’s return on capital.
2026 FULL YEAR OUTLOOK |
|||
Metric |
Original FY 2026 Guidance |
Updated Guidance |
Commentary |
Net Interest Income |
5%-7% increase for the year |
~8.5% increase for the year |
Unchanged |
Non-Interest Income |
$160 million-$165 million per quarter |
~ $170 million in Q4 |
Upper end of our Q2 guidance |
NCOs |
55 bps-70 bps annualized |
80 bps-90 bps annualized |
Due to YTD charge-offs and NPL inflows in the commercial portfolio |
Operating Expenses |
3% increase for the year |
2% increase for the year |
Guidance includes max profit sharing contribution |
Effective Tax Rate |
15%-17% for the year |
14% for the year |
Lower end of our Q2 guidance |
Loan Growth |
3%-4% increase for the year |
2% increase for the year |
Driven by a decline in auto and lease financing activity |
NON-GAAP FINANCIAL MEASURES |
This press release contains financial information prepared under accounting principles generally accepted in the United States (“U.S. GAAP”) and non-GAAP financial measures. Management uses non-GAAP financial measures when it determines that these measures provide more meaningful information of the underlying performance of the ongoing operations. Non-GAAP financial measures used by the Corporation may not be comparable to similarly named non-GAAP financial measures used by other companies. Below are the non-GAAP measures used in this earnings release:
- NII, NIM and loan yields on an FTE basis – Management believes that this presentation provides meaningful information since it facilitates the comparison of revenues, margin and yields arising from taxable and tax-exempt sources. NII FTE, NIM FTE and loan yields FTE are presented, together with their different components, as applicable, in Tables D and E for the quarter ended September 30, 2026 and F for the year to date ended September 30, 2026.
- Tangible common equity – The tangible common equity ratio and tangible book value per common share are commonly used by banks and analysts in conjunction with more traditional bank capital ratios to compare the capital adequacy of banking organizations with significant amounts of goodwill or other intangible assets, typically stemming from the use of the purchase accounting method for mergers and acquisitions. Return on average tangible common equity is also a measure commonly used by banks and analysts to measure the return on that tangible common equity. We present return on average tangible common equity with and without the impact of unrealized (gains) losses on AFS securities including those transferred to HTM in the denominator because we believe that adding back the impact of unrealized (gains) losses on AFS securities, including those transferred to HTM, to the denominator provides meaningful information about the Corporation’s return on capital. Unless otherwise indicated, references to “ROTCE” in this press release means return on average tangible common equity as adjusted to add back unrealized (gains) losses on AFS securities, including those transferred to HTM. Neither tangible common equity nor tangible assets or related measures should be used in isolation or as a substitute for stockholders’ equity, total assets or any other measure calculated in accordance with GAAP.
Refer to Table R for a reconciliation of total stockholders’ equity to tangible common equity and total assets to tangible assets.
- Adjusted Net Income – Management believes that the “Adjusted net income” provides meaningful information about the underlying performance of the Corporation’s ongoing operations. There were no adjustments to net income for the quarter ended September 30, 2026 or June 30, 2026.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS |
This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including without limitation those regarding Popular’s business, financial condition, results of operations, plans, objectives, outlook and future performance. These statements are not guarantees of future performance, are based on management’s current expectations and, by their nature, involve risks, uncertainties, estimates and assumptions. Potential factors, some of which are beyond the Corporation’s control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. Risks and uncertainties include, without limitation, the effect of competitive and economic factors, and our reaction to those factors, the adequacy of the allowance for loan losses, delinquency trends, market risk and the impact of interest rate changes (including on our cost of deposits), our ability to attract deposits and grow our loan portfolio, capital market conditions, capital adequacy and liquidity, the effect of legal and regulatory proceedings, the receipt of necessary regulatory approvals, including for dividends by the Corporation’s subsidiaries, and the timing of those regulatory approvals, new regulatory requirements or accounting standards on the Corporation’s financial condition and results of operations, the occurrence of unforeseen or catastrophic events, such as extreme weather events, pandemics, man-made disasters or acts of violence or war, as well as actions taken by governmental authorities in response thereto, and the direct and indirect impact of such events on Popular, our customers, service providers and third parties. Other potential factors include Popular’s ability to successfully execute its transformation initiative, including, but not limited to, achieving projected earnings, efficiencies and return on tangible common equity and accurately anticipating costs and expenses associated therewith, our ability to execute capital actions, including with respect to share repurchases and dividends, the imposition of additional or special FDIC assessments, or increases thereto, the occurrence of any cyber-security event, changes to regulatory capital, liquidity and resolution-related requirements applicable to financial institutions, the impact of bank failures or adverse developments at other banks and related negative media coverage of the banking industry in general on investor and depositor sentiment regarding the stability and liquidity of banks, and changes in and uncertainty regarding federal funding, tax and trade policies, and rulemaking, supervision, examination and enforcement priorities of the federal administration. All statements contained herein that are not clearly historical in nature, are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions, and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions, are generally intended to identify forward-looking statements.
More information on the risks and important factors that could affect the Corporation’s future results and financial condition is included in our Form 10-K for the year ended December 31, 2025, our Form 10-Q for the quarter ended March 31, 2026, our Form 10-Q for the quarter ended June 30, 2026 and our Form 10-Q for the quarter ended September 30, 2026 to be filed with the Securities and Exchange Commission. Our filings are available on the Corporation’s website (www.popular.com) and on the Securities and Exchange Commission website (www.sec.gov). The Corporation assumes no obligation to update or revise any forward-looking statements or information which speak as of their respective dates.
ABOUT POPULAR, INC. |
Popular, Inc. (NASDAQ: BPOP) is the leading financial institution in Puerto Rico, by both assets and deposits, and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. and British Virgin Islands, as well as auto and equipment leasing and financing in Puerto Rico. Popular also offers broker-dealer and insurance services in Puerto Rico through specialized subsidiaries. In the mainland United States, Popular provides retail and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.
CONFERENCE CALL |
Popular will hold a conference call to discuss its financial results today, Thursday, October 22, 2026 at 11:00 a.m. Eastern Time. The call will be broadcast live over the Internet and can be accessed through the Investor Relations section of the Corporation’s website: www.popular.com.
Following the live webcast, a replay will be archived in the investor relations section of Popular’s website.
Popular, Inc. |
Financial Supplement to Third Quarter 2026 Earnings Release |
Table A - Selected Ratios and Other Information |
Table B - Consolidated Statement of Operations |
Table C - Consolidated Statement of Financial Condition |
Table D - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - QUARTER |
Table E - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - QUARTER |
Table F - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - YEAR-TO-DATE |
Table G - Mortgage Banking Activities and Other Service Fees |
Table H - Consolidated Loans and Deposits |
Table I - Loan Delinquency - BPPR Operations |
Table J - Loan Delinquency - Popular U.S. Operations |
Table K - Loan Delinquency - Consolidated |
Table L - Non-Performing Assets |
Table M - Activity in Non-Performing Loans |
Table N - Allowance for Credit Losses, Net Charge-offs and Related Ratios |
Table O - Allowance for Credit Losses ‘‘ACL’’ - Loan Portfolios - BPPR Operations |
Table P - Allowance for Credit Losses ‘‘ACL’’ - Loan Portfolios - Popular U.S. Operations |
Table Q - Allowance for Credit Losses ‘‘ACL’’ - Loan Portfolios - Consolidated |
Table R - Reconciliation to GAAP Financial Measures |
POPULAR, INC. Financial Supplement to Third Quarter 2026 Earnings Release Table A - Selected Ratios and Other Information (Unaudited) |
|||||||||||||||
Quarters ended |
Nine months ended |
||||||||||||||
30-Sep-26 |
30-Jun-26 |
30-Sep-25 |
30-Sep-26 |
30-Sep-25 |
|||||||||||
Basic EPS |
$ |
4.21 |
$ |
4.35 |
$ |
3.15 |
$ |
12.34 |
$ |
8.78 |
|||||
Diluted EPS |
$ |
4.21 |
$ |
4.35 |
$ |
3.14 |
$ |
12.34 |
$ |
8.78 |
|||||
Average common shares outstanding |
63,109,582 |
63,880,929 |
67,058,260 |
63,930,220 |
68,121,447 |
||||||||||
Average common shares outstanding - assuming dilution |
63,137,983 |
63,915,634 |
67,095,421 |
63,958,522 |
68,143,888 |
||||||||||
Common shares outstanding at end of period |
62,834,136 |
63,866,681 |
66,959,866 |
62,834,136 |
66,959,866 |
||||||||||
Market value per common share |
$ |
155.45 |
$ |
164.18 |
$ |
129.10 |
$ |
155.45 |
$ |
129.10 |
|||||
Market capitalization - (In millions) |
$ |
9,768 |
$ |
10,486 |
$ |
8,645 |
$ |
9,768 |
$ |
8,645 |
|||||
Return on average assets |
1.32 |
% |
1.41 |
% |
1.09 |
% |
1.34 |
% |
1.06 |
% |
|||||
Return on average common equity |
14.12 |
% |
15.18 |
% |
11.60 |
% |
14.36 |
% |
11.15 |
% |
|||||
Net interest margin (non-taxable equivalent basis) |
3.63 |
% |
3.66 |
% |
3.51 |
% |
3.65 |
% |
3.46 |
% |
|||||
Net interest margin (taxable equivalent basis) - non-GAAP |
4.16 |
% |
4.17 |
% |
3.90 |
% |
4.16 |
% |
3.83 |
% |
|||||
Common equity per share |
$ |
98.94 |
$ |
100.38 |
$ |
91.00 |
$ |
98.94 |
$ |
91.00 |
|||||
Tangible common book value per common share (non-GAAP) [1] |
$ |
86.30 |
$ |
87.94 |
$ |
79.12 |
$ |
86.30 |
$ |
79.12 |
|||||
Tangible common equity to tangible assets (non-GAAP) [1] |
7.05 |
% |
7.18 |
% |
7.13 |
% |
7.05 |
% |
7.13 |
% |
|||||
Return on average tangible common equity [1] |
15.80 |
% |
17.02 |
% |
13.06 |
% |
16.10 |
% |
12.57 |
% |
|||||
Tier 1 capital |
16.12 |
% |
16.13 |
% |
15.84 |
% |
16.12 |
% |
15.84 |
% |
|||||
Total capital |
17.84 |
% |
17.85 |
% |
17.58 |
% |
17.84 |
% |
17.58 |
% |
|||||
Tier 1 leverage |
8.52 |
% |
8.57 |
% |
8.48 |
% |
8.52 |
% |
8.48 |
% |
|||||
Common Equity Tier 1 capital |
16.06 |
% |
16.08 |
% |
15.79 |
% |
16.06 |
% |
15.79 |
% |
|||||
[1] Refer to Table R for reconciliation to GAAP financial measures. |
|||||||||||||||
POPULAR, INC. Financial Supplement to Third Quarter 2026 Earnings Release Table B - Consolidated Statement of Operations (Unaudited) |
|||||||||||||||||||||||||||
Quarters ended |
Variance |
Quarter ended |
Variance |
Nine months ended |
|||||||||||||||||||||||
(In thousands, except per share information) |
30-Sep-26 |
30-Jun-26 |
Δ vs
|
30-Sep-25 |
Δ vs
|
30-Sep-26 |
30-Sep-25 |
||||||||||||||||||||
Interest income: |
|||||||||||||||||||||||||||
Loans |
$ |
725,035 |
$ |
714,266 |
$ |
10,769 |
$ |
702,039 |
$ |
22,996 |
$ |
2,141,450 |
$ |
2,053,299 |
|||||||||||||
Money market investments |
45,868 |
47,021 |
(1,153 |
) |
66,867 |
(20,999 |
) |
137,129 |
206,565 |
||||||||||||||||||
Investment securities |
235,870 |
220,352 |
15,518 |
197,743 |
38,127 |
657,049 |
567,655 |
||||||||||||||||||||
Total interest income |
1,006,773 |
981,639 |
25,134 |
966,649 |
40,124 |
2,935,628 |
2,827,519 |
||||||||||||||||||||
Interest expense: |
|||||||||||||||||||||||||||
Deposits |
289,185 |
271,254 |
17,931 |
303,432 |
(14,247 |
) |
819,857 |
896,353 |
|||||||||||||||||||
Short-term borrowings |
6,881 |
5,172 |
1,709 |
4,616 |
2,265 |
17,756 |
11,342 |
||||||||||||||||||||
Long-term debt |
11,777 |
11,794 |
(17 |
) |
12,096 |
(319 |
) |
35,486 |
36,173 |
||||||||||||||||||
Total interest expense |
307,843 |
288,220 |
19,623 |
320,144 |
(12,301 |
) |
873,099 |
943,868 |
|||||||||||||||||||
Net interest income |
698,930 |
693,419 |
5,511 |
646,505 |
52,425 |
2,062,529 |
1,883,651 |
||||||||||||||||||||
Provision for credit losses |
58,593 |
65,873 |
(7,280 |
) |
75,125 |
(16,532 |
) |
200,352 |
188,147 |
||||||||||||||||||
Net interest income after provision for credit losses |
640,337 |
627,546 |
12,791 |
571,380 |
68,957 |
1,862,177 |
1,695,504 |
||||||||||||||||||||
Service charges on deposit accounts |
37,106 |
39,037 |
(1,931 |
) |
39,077 |
(1,971 |
) |
114,909 |
116,957 |
||||||||||||||||||
Other service fees |
110,584 |
108,792 |
1,792 |
101,376 |
9,208 |
322,297 |
296,406 |
||||||||||||||||||||
Mortgage banking activities |
4,852 |
6,267 |
(1,415 |
) |
2,771 |
2,081 |
15,332 |
11,332 |
|||||||||||||||||||
Net loss, including impairment, on debt securities |
— |
(595 |
) |
595 |
— |
— |
(595 |
) |
— |
||||||||||||||||||
Net (loss) gain, including impairment, on equity securities |
(1,746 |
) |
2,327 |
(4,073 |
) |
2,197 |
(3,943 |
) |
1,610 |
3,645 |
|||||||||||||||||
Net (loss) gain on trading account debt securities |
(792 |
) |
214 |
(1,006 |
) |
398 |
(1,190 |
) |
(317 |
) |
1,456 |
||||||||||||||||
Adjustments to indemnity reserves on loans sold |
158 |
394 |
(236 |
) |
36 |
122 |
587 |
329 |
|||||||||||||||||||
Other operating income |
25,496 |
24,109 |
1,387 |
25,340 |
156 |
68,006 |
61,608 |
||||||||||||||||||||
Total non-interest income |
175,658 |
180,545 |
(4,887 |
) |
171,195 |
4,463 |
521,829 |
491,733 |
|||||||||||||||||||
Operating expenses: |
|||||||||||||||||||||||||||
Personnel costs |
|||||||||||||||||||||||||||
Salaries |
141,357 |
134,448 |
6,909 |
139,350 |
2,007 |
410,618 |
403,052 |
||||||||||||||||||||
Commissions, incentives and other bonuses |
42,709 |
39,911 |
2,798 |
35,309 |
7,400 |
117,523 |
113,846 |
||||||||||||||||||||
Profit sharing |
15,097 |
10,000 |
5,097 |
13,000 |
2,097 |
23,894 |
26,000 |
||||||||||||||||||||
Pension, postretirement and medical insurance |
18,446 |
18,773 |
(327 |
) |
18,749 |
(303 |
) |
52,115 |
51,773 |
||||||||||||||||||
Other personnel costs, including payroll taxes |
27,461 |
25,899 |
1,562 |
26,580 |
881 |
86,020 |
80,385 |
||||||||||||||||||||
Total personnel costs |
245,070 |
229,031 |
16,039 |
232,988 |
12,082 |
690,170 |
675,056 |
||||||||||||||||||||
Net occupancy expenses |
29,157 |
27,764 |
1,393 |
26,083 |
3,074 |
84,220 |
82,441 |
||||||||||||||||||||
Equipment expenses |
6,324 |
5,879 |
445 |
5,313 |
1,011 |
17,432 |
16,404 |
||||||||||||||||||||
Other taxes |
17,665 |
17,707 |
(42 |
) |
17,967 |
(302 |
) |
53,049 |
55,324 |
||||||||||||||||||
Professional fees |
25,587 |
24,484 |
1,103 |
25,808 |
(221 |
) |
75,624 |
80,741 |
|||||||||||||||||||
Technology and software expenses |
90,068 |
90,971 |
(903 |
) |
87,117 |
2,951 |
270,178 |
255,481 |
|||||||||||||||||||
Processing and transactional services |
|||||||||||||||||||||||||||
Credit and debit cards |
15,498 |
13,236 |
2,262 |
14,728 |
770 |
42,940 |
40,698 |
||||||||||||||||||||
Other processing and transactional services |
24,172 |
24,030 |
142 |
23,680 |
492 |
73,083 |
73,352 |
||||||||||||||||||||
Total processing and transactional services |
39,670 |
37,266 |
2,404 |
38,408 |
1,262 |
116,023 |
114,050 |
||||||||||||||||||||
Communications |
4,562 |
4,261 |
301 |
4,836 |
(274 |
) |
13,332 |
14,750 |
|||||||||||||||||||
Business promotion |
|||||||||||||||||||||||||||
Rewards and customer loyalty programs |
19,045 |
19,600 |
(555 |
) |
17,656 |
1,389 |
54,037 |
52,068 |
|||||||||||||||||||
Other business promotion |
9,383 |
8,300 |
1,083 |
9,648 |
(265 |
) |
25,151 |
25,296 |
|||||||||||||||||||
Total business promotion |
28,428 |
27,900 |
528 |
27,304 |
1,124 |
79,188 |
77,364 |
||||||||||||||||||||
Deposit insurance |
9,692 |
9,977 |
(285 |
) |
10,873 |
(1,181 |
) |
29,586 |
30,315 |
||||||||||||||||||
Other real estate owned (OREO) income |
(3,733 |
) |
(3,238 |
) |
(495 |
) |
(3,408 |
) |
(325 |
) |
(11,589 |
) |
(10,862 |
) |
|||||||||||||
Other operating expenses |
|||||||||||||||||||||||||||
Operational losses |
1,895 |
3,118 |
(1,223 |
) |
1,634 |
261 |
8,988 |
13,957 |
|||||||||||||||||||
All other |
10,821 |
8,626 |
2,195 |
6,980 |
3,841 |
29,677 |
39,673 |
||||||||||||||||||||
Total other operating expenses |
12,716 |
11,744 |
972 |
8,614 |
4,102 |
38,665 |
53,630 |
||||||||||||||||||||
Amortization of intangibles |
384 |
384 |
— |
384 |
— |
1,152 |
1,366 |
||||||||||||||||||||
Goodwill impairment |
— |
— |
— |
13,000 |
(13,000 |
) |
— |
13,000 |
|||||||||||||||||||
Total operating expenses |
505,590 |
484,130 |
21,460 |
495,287 |
10,303 |
1,457,030 |
1,459,060 |
||||||||||||||||||||
Income before income tax |
310,405 |
323,961 |
(13,556 |
) |
247,288 |
63,117 |
926,976 |
728,177 |
|||||||||||||||||||
Income tax expense |
44,071 |
45,747 |
(1,676 |
) |
35,971 |
8,100 |
136,754 |
128,918 |
|||||||||||||||||||
Net income |
$ |
266,334 |
$ |
278,214 |
$ |
(11,880 |
) |
$ |
211,317 |
$ |
55,017 |
$ |
790,222 |
$ |
599,259 |
||||||||||||
Net income applicable to common stock |
$ |
265,981 |
$ |
277,861 |
$ |
(11,880 |
) |
$ |
210,964 |
$ |
55,017 |
$ |
789,163 |
$ |
598,200 |
||||||||||||
Net income per common share - basic |
$ |
4.21 |
$ |
4.35 |
$ |
(0.14 |
) |
$ |
3.15 |
$ |
1.06 |
$ |
12.34 |
$ |
8.78 |
||||||||||||
Net income per common share - diluted |
$ |
4.21 |
$ |
4.35 |
$ |
(0.14 |
) |
$ |
3.14 |
$ |
1.07 |
$ |
12.34 |
$ |
8.78 |
||||||||||||
Dividends Declared per Common Share |
$ |
0.90 |
$ |
0.75 |
$ |
0.15 |
$ |
0.75 |
$ |
0.15 |
$ |
2.40 |
$ |
2.15 |
|||||||||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table C - Consolidated Statement of Financial Condition (Unaudited) |
|||||||||||||||
Quarters ended |
Variance |
||||||||||||||
(In thousands) |
30-Sep-26 |
30-Jun-26 |
30-Sep-25 |
Δ vs 30-Jun-26 |
|||||||||||
Assets: |
|||||||||||||||
Cash and due from banks |
$ |
373,329 |
$ |
365,013 |
$ |
377,079 |
$ |
8,316 |
|||||||
Money market investments |
5,112,689 |
4,555,489 |
4,754,391 |
557,200 |
|||||||||||
Trading account debt securities, at fair value |
30,704 |
31,170 |
33,122 |
(466 |
) |
||||||||||
Debt securities available-for-sale, at fair value |
23,427,860 |
24,792,834 |
20,686,423 |
(1,364,974 |
) |
||||||||||
Debt securities held-to-maturity, at amortized cost |
5,489,378 |
6,204,020 |
7,433,135 |
(714,642 |
) |
||||||||||
Less: Allowance for credit losses |
6,057 |
6,230 |
5,837 |
(173 |
) |
||||||||||
Debt securities held-to-maturity, net |
5,483,321 |
6,197,790 |
7,427,298 |
(714,469 |
) |
||||||||||
Equity securities |
226,936 |
236,674 |
218,993 |
(9,738 |
) |
||||||||||
Loans held-for-sale, at lower of cost or fair value |
3,214 |
88,579 |
7,783 |
(85,365 |
) |
||||||||||
Loans held-in-portfolio |
40,441,556 |
40,156,582 |
39,111,956 |
284,974 |
|||||||||||
Less: Unearned income |
398,900 |
406,720 |
424,798 |
(7,820 |
) |
||||||||||
Allowance for credit losses |
770,687 |
784,832 |
786,220 |
(14,145 |
) |
||||||||||
Total loans held-in-portfolio, net |
39,271,969 |
38,965,030 |
37,900,938 |
306,939 |
|||||||||||
Premises and equipment, net |
746,190 |
731,945 |
679,651 |
14,245 |
|||||||||||
Other real estate |
44,299 |
49,557 |
42,950 |
(5,258 |
) |
||||||||||
Accrued income receivable |
319,724 |
307,251 |
297,347 |
12,473 |
|||||||||||
Mortgage servicing rights, at fair value |
93,373 |
94,485 |
99,523 |
(1,112 |
) |
||||||||||
Other assets |
1,831,386 |
1,762,221 |
1,744,886 |
69,165 |
|||||||||||
Goodwill |
789,954 |
789,954 |
789,954 |
— |
|||||||||||
Other intangible assets |
3,924 |
4,308 |
5,460 |
(384 |
) |
||||||||||
Total assets |
$ |
77,758,872 |
$ |
78,972,300 |
$ |
75,065,798 |
$ |
(1,213,428 |
) |
||||||
Liabilities and Stockholders’ Equity: |
|||||||||||||||
Liabilities: |
|||||||||||||||
Deposits: |
|||||||||||||||
Non-interest bearing |
$ |
15,010,570 |
$ |
15,096,293 |
$ |
14,874,026 |
$ |
(85,723 |
) |
||||||
Interest bearing |
53,694,421 |
55,136,822 |
51,639,378 |
(1,442,401 |
) |
||||||||||
Total deposits |
68,704,991 |
70,233,115 |
66,513,404 |
(1,528,124 |
) |
||||||||||
Assets sold under agreements to repurchase |
152,321 |
77,521 |
56,853 |
74,800 |
|||||||||||
Other short-term borrowings |
486,697 |
675,000 |
400,000 |
(188,303 |
) |
||||||||||
Notes payable |
686,228 |
710,310 |
789,954 |
(24,082 |
) |
||||||||||
Other liabilities |
1,489,791 |
843,349 |
1,189,915 |
646,442 |
|||||||||||
Total liabilities |
71,520,028 |
72,539,295 |
68,950,126 |
(1,019,267 |
) |
||||||||||
Stockholders’ equity: |
|||||||||||||||
Preferred stock |
22,143 |
22,143 |
22,143 |
— |
|||||||||||
Common stock |
1,050 |
1,050 |
1,049 |
— |
|||||||||||
Surplus |
4,940,043 |
4,937,091 |
4,920,767 |
2,952 |
|||||||||||
Retained earnings |
5,841,950 |
5,632,866 |
5,022,546 |
209,084 |
|||||||||||
Treasury stock |
(3,181,178 |
) |
(3,000,759 |
) |
(2,574,573 |
) |
(180,419 |
) |
|||||||
Accumulated other comprehensive loss, net of tax |
(1,385,164 |
) |
(1,159,386 |
) |
(1,276,260 |
) |
(225,778 |
) |
|||||||
Total stockholders’ equity |
6,238,844 |
6,433,005 |
6,115,672 |
(194,161 |
) |
||||||||||
Total liabilities and stockholders’ equity |
$ |
77,758,872 |
$ |
78,972,300 |
$ |
75,065,798 |
$ |
(1,213,428 |
) |
||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table D - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) For the quarters ended September 30, 2026 and June 30, 2026 (Unaudited) |
||||||||||||||||||||||||||||||||||||
Average Volume |
Average Yields / Costs |
Interest |
Variance Attributable to |
|||||||||||||||||||||||||||||||||
30-Sep-26 |
30-Jun-26 |
Variance |
30-Sep-26 |
30-Jun-26 |
Variance |
30-Sep-26 |
30-Jun-26 |
Variance |
Rate |
Volume |
||||||||||||||||||||||||||
(In millions) |
(In thousands) |
|||||||||||||||||||||||||||||||||||
$ |
4,854 |
$ |
5,095 |
$ |
(241 |
) |
3.75 |
% |
3.70 |
% |
0.05 |
% |
Money market investments |
$ |
45,868 |
$ |
47,021 |
$ |
(1,153 |
) |
$ |
1,109 |
$ |
(2,262 |
) |
|||||||||||
31,761 |
31,091 |
670 |
3.82 |
3.69 |
0.13 |
Investment securities [1] |
305,829 |
286,115 |
19,714 |
8,707 |
11,007 |
|||||||||||||||||||||||||
35 |
32 |
3 |
5.43 |
5.76 |
(0.33 |
) |
Trading securities |
478 |
454 |
24 |
(22 |
) |
46 |
|||||||||||||||||||||||
36,650 |
36,218 |
432 |
3.82 |
3.69 |
0.13 |
Total money market, investment and trading securities |
352,175 |
333,590 |
18,585 |
9,794 |
8,791 |
|||||||||||||||||||||||||
Loans: |
||||||||||||||||||||||||||||||||||||
20,154 |
19,932 |
222 |
6.82 |
6.73 |
0.09 |
Commercial |
346,528 |
334,494 |
12,034 |
8,289 |
3,745 |
|||||||||||||||||||||||||
1,680 |
1,764 |
(84 |
) |
7.80 |
7.90 |
(0.10 |
) |
Construction |
33,029 |
34,729 |
(1,700 |
) |
(45 |
) |
(1,655 |
) |
||||||||||||||||||||
1,949 |
1,970 |
(21 |
) |
7.41 |
7.45 |
(0.04 |
) |
Leasing |
36,113 |
36,680 |
(567 |
) |
(176 |
) |
(391 |
) |
||||||||||||||||||||
8,809 |
8,732 |
77 |
6.17 |
6.15 |
0.02 |
Mortgage |
135,960 |
134,236 |
1,724 |
536 |
1,188 |
|||||||||||||||||||||||||
3,382 |
3,310 |
72 |
13.54 |
13.74 |
(0.20 |
) |
Consumer |
115,388 |
113,356 |
2,032 |
(398 |
) |
2,430 |
|||||||||||||||||||||||
3,846 |
3,867 |
(21 |
) |
9.31 |
9.32 |
(0.01 |
) |
Auto |
90,287 |
89,901 |
386 |
884 |
(498 |
) |
||||||||||||||||||||||
39,820 |
39,575 |
245 |
7.56 |
7.53 |
0.03 |
Total loans |
757,305 |
743,396 |
13,909 |
9,090 |
4,819 |
|||||||||||||||||||||||||
$ |
76,470 |
$ |
75,793 |
$ |
677 |
5.76 |
% |
5.70 |
% |
0.06 |
% |
Total earning assets |
$ |
1,109,480 |
$ |
1,076,986 |
$ |
32,494 |
$ |
18,884 |
$ |
13,610 |
||||||||||||||
Interest bearing deposits: |
||||||||||||||||||||||||||||||||||||
$ |
8,790 |
$ |
8,819 |
$ |
(29 |
) |
1.68 |
% |
1.69 |
% |
(0.01 |
)% |
NOW and money market |
$ |
37,141 |
$ |
37,237 |
$ |
(96 |
) |
$ |
589 |
$ |
(685 |
) |
|||||||||||
14,537 |
14,817 |
(280 |
) |
0.79 |
0.78 |
0.01 |
Savings |
28,909 |
28,640 |
269 |
755 |
(486 |
) |
|||||||||||||||||||||||
8,959 |
8,907 |
52 |
3.01 |
2.95 |
0.06 |
Time deposits |
67,988 |
65,411 |
2,577 |
2,126 |
451 |
|||||||||||||||||||||||||
22,623 |
21,502 |
1,121 |
2.72 |
2.61 |
0.11 |
P.R. public deposits |
155,147 |
139,966 |
15,181 |
7,271 |
7,910 |
|||||||||||||||||||||||||
54,909 |
54,045 |
864 |
2.09 |
2.01 |
0.08 |
Total interest bearing deposits |
289,185 |
271,254 |
17,931 |
10,741 |
7,190 |
|||||||||||||||||||||||||
14,906 |
15,268 |
(362 |
) |
Non-interest bearing demand deposits |
||||||||||||||||||||||||||||||||
69,815 |
69,313 |
502 |
1.64 |
1.57 |
0.07 |
Total deposits |
289,185 |
271,254 |
17,931 |
10,741 |
7,190 |
|||||||||||||||||||||||||
693 |
539 |
154 |
3.94 |
3.85 |
0.09 |
Short-term borrowings |
6,881 |
5,172 |
1,709 |
196 |
1,513 |
|||||||||||||||||||||||||
718 |
741 |
(23 |
) |
6.51 |
6.38 |
0.13 |
Other medium and long-term debt |
11,777 |
11,794 |
(17 |
) |
358 |
(375 |
) |
||||||||||||||||||||||
56,320 |
55,325 |
995 |
2.17 |
2.09 |
0.08 |
Total interest bearing liabilities (excluding demand deposits) |
307,843 |
288,220 |
19,623 |
11,295 |
8,328 |
|||||||||||||||||||||||||
5,244 |
5,200 |
44 |
Other sources of funds |
|||||||||||||||||||||||||||||||||
$ |
76,470 |
$ |
75,793 |
$ |
677 |
1.60 |
% |
1.53 |
% |
0.07 |
% |
Total source of funds |
$ |
307,843 |
$ |
288,220 |
$ |
19,623 |
$ |
11,295 |
$ |
8,328 |
||||||||||||||
4.16 |
% |
4.17 |
% |
(0.01 |
)% |
Net interest margin/ income on a taxable equivalent basis (Non-GAAP) |
$ |
801,637 |
$ |
788,766 |
$ |
12,871 |
$ |
7,589 |
$ |
5,282 |
||||||||||||||||||||
3.59 |
% |
3.61 |
% |
(0.02 |
)% |
Net interest spread |
||||||||||||||||||||||||||||||
Taxable equivalent adjustment |
102,707 |
95,347 |
7,360 |
|||||||||||||||||||||||||||||||||
3.63 |
% |
3.66 |
% |
(0.03 |
)% |
Net interest margin/ income non-taxable equivalent basis (GAAP) |
$ |
698,930 |
$ |
693,419 |
$ |
5,511 |
||||||||||||||||||||||||
Note: The changes that are not due solely to volume or rate are allocated to volume and rate based on the proportion of the change in each category. [1] Average balances exclude unrealized gains or losses on debt securities available-for-sale and the unrealized loss related to certain securities transferred from available-for-sale to held-to-maturity. |
||||||||||||||||||||||||||||||||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table E - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) For the quarters ended September 30, 2026 and September 30, 2025 (Unaudited) |
||||||||||||||||||||||||||||||||||||
Average Volume |
Average Yields / Costs |
Interest |
Variance Attributable to |
|||||||||||||||||||||||||||||||||
30-Sep-26 |
30-Sep-25 |
Variance |
30-Sep-26 |
30-Sep-25 |
Variance |
30-Sep-26 |
30-Sep-25 |
Variance |
Rate |
Volume |
||||||||||||||||||||||||||
(In millions) |
(In thousands) |
|||||||||||||||||||||||||||||||||||
$ |
4,854 |
$ |
5,990 |
$ |
(1,136 |
) |
3.75 |
% |
4.43 |
% |
(0.68 |
)% |
Money market investments |
$ |
45,868 |
$ |
66,867 |
$ |
(20,999 |
) |
$ |
(9,397 |
) |
$ |
(11,602 |
) |
||||||||||
31,761 |
28,957 |
2,804 |
3.82 |
3.42 |
0.40 |
Investment securities [1] |
305,829 |
249,071 |
56,758 |
22,570 |
34,188 |
|||||||||||||||||||||||||
35 |
28 |
7 |
5.43 |
5.43 |
— |
Trading securities |
478 |
391 |
87 |
— |
87 |
|||||||||||||||||||||||||
36,650 |
34,975 |
1,675 |
3.82 |
3.59 |
0.23 |
Total money market, investment and trading securities |
352,175 |
316,329 |
35,846 |
13,173 |
22,673 |
|||||||||||||||||||||||||
Loans: |
||||||||||||||||||||||||||||||||||||
20,154 |
19,229 |
925 |
6.82 |
6.72 |
0.10 |
Commercial |
346,528 |
325,869 |
20,659 |
4,809 |
15,850 |
|||||||||||||||||||||||||
1,680 |
1,549 |
131 |
7.80 |
8.24 |
(0.44 |
) |
Construction |
33,029 |
32,184 |
845 |
(1,793 |
) |
2,638 |
|||||||||||||||||||||||
1,949 |
1,981 |
(32 |
) |
7.41 |
7.26 |
0.15 |
Leasing |
36,113 |
35,957 |
156 |
751 |
(595 |
) |
|||||||||||||||||||||||
8,809 |
8,484 |
325 |
6.17 |
5.96 |
0.21 |
Mortgage |
135,960 |
126,352 |
9,608 |
4,670 |
4,938 |
|||||||||||||||||||||||||
3,382 |
3,257 |
125 |
13.54 |
13.80 |
(0.26 |
) |
Consumer |
115,388 |
113,280 |
2,108 |
(1,965 |
) |
4,073 |
|||||||||||||||||||||||
3,846 |
3,945 |
(99 |
) |
9.31 |
9.15 |
0.16 |
Auto |
90,287 |
91,006 |
(719 |
) |
1,581 |
(2,300 |
) |
||||||||||||||||||||||
39,820 |
38,445 |
1,375 |
7.56 |
7.49 |
0.07 |
Total loans |
757,305 |
724,648 |
32,657 |
8,053 |
24,604 |
|||||||||||||||||||||||||
$ |
76,470 |
$ |
73,420 |
$ |
3,050 |
5.76 |
% |
5.63 |
% |
0.13 |
% |
Total earning assets |
$ |
1,109,480 |
$ |
1,040,977 |
$ |
68,503 |
$ |
21,226 |
$ |
47,277 |
||||||||||||||
Interest bearing deposits: |
||||||||||||||||||||||||||||||||||||
$ |
8,790 |
$ |
8,184 |
$ |
606 |
1.68 |
% |
1.77 |
% |
(0.09 |
)% |
NOW and money market |
$ |
37,141 |
$ |
36,421 |
$ |
720 |
$ |
(2,252 |
) |
$ |
2,972 |
|||||||||||||
14,537 |
14,529 |
8 |
0.79 |
0.81 |
(0.02 |
) |
Savings |
28,909 |
29,772 |
(863 |
) |
(100 |
) |
(763 |
) |
|||||||||||||||||||||
8,959 |
8,825 |
134 |
3.01 |
3.16 |
(0.15 |
) |
Time deposits |
67,988 |
70,196 |
(2,208 |
) |
(2,947 |
) |
739 |
||||||||||||||||||||||
22,623 |
20,766 |
1,857 |
2.72 |
3.19 |
(0.47 |
) |
P.R. public deposits |
155,147 |
167,043 |
(11,896 |
) |
(25,359 |
) |
13,463 |
||||||||||||||||||||||
54,909 |
52,304 |
2,605 |
2.09 |
2.30 |
(0.21 |
) |
Total interest bearing deposits |
289,185 |
303,432 |
(14,247 |
) |
(30,658 |
) |
16,411 |
||||||||||||||||||||||
14,906 |
14,846 |
60 |
Non-interest bearing demand deposits |
|||||||||||||||||||||||||||||||||
69,815 |
67,150 |
2,665 |
1.64 |
1.79 |
(0.15 |
) |
Total deposits |
289,185 |
303,432 |
(14,247 |
) |
(30,658 |
) |
16,411 |
||||||||||||||||||||||
693 |
405 |
288 |
3.94 |
4.52 |
(0.58 |
) |
Short-term borrowings |
6,881 |
4,616 |
2,265 |
(653 |
) |
2,918 |
|||||||||||||||||||||||
718 |
812 |
(94 |
) |
6.51 |
5.98 |
0.53 |
Other medium and long-term debt |
11,777 |
12,096 |
(319 |
) |
1,194 |
(1,513 |
) |
||||||||||||||||||||||
56,320 |
53,521 |
2,799 |
2.17 |
2.37 |
(0.20 |
) |
Total interest bearing liabilities (excluding demand deposits) |
307,843 |
320,144 |
(12,301 |
) |
(30,117 |
) |
17,816 |
||||||||||||||||||||||
5,244 |
5,053 |
191 |
Other sources of funds |
|||||||||||||||||||||||||||||||||
$ |
76,470 |
$ |
73,420 |
$ |
3,050 |
1.60 |
% |
1.73 |
% |
(0.13 |
)% |
Total source of funds |
$ |
307,843 |
$ |
320,144 |
$ |
(12,301 |
) |
$ |
(30,117 |
) |
$ |
17,816 |
||||||||||||
4.16 |
% |
3.90 |
% |
0.26 |
% |
Net interest margin/ income on a taxable equivalent basis (Non-GAAP) |
$ |
801,637 |
$ |
720,833 |
$ |
80,804 |
$ |
51,343 |
$ |
29,461 |
||||||||||||||||||||
3.59 |
% |
3.26 |
% |
0.33 |
% |
Net interest spread |
||||||||||||||||||||||||||||||
Taxable equivalent adjustment |
102,707 |
74,328 |
28,379 |
|||||||||||||||||||||||||||||||||
3.63 |
% |
3.51 |
% |
0.12 |
% |
Net interest margin/ income non-taxable equivalent basis (GAAP) |
$ |
698,930 |
$ |
646,505 |
$ |
52,425 |
||||||||||||||||||||||||
Note: The changes that are not due solely to volume or rate are allocated to volume and rate based on the proportion of the change in each category. [1] Average balances exclude unrealized gains or losses on debt securities available-for-sale and the unrealized loss related to certain securities transferred from available-for-sale to held-to-maturity. |
||||||||||||||||||||||||||||||||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table F - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - YEAR-TO-DATE (Unaudited) |
||||||||||||||||||||||||||||||||||||
Average Volume |
Average Yields / Costs |
Interest |
Variance Attributable to |
|||||||||||||||||||||||||||||||||
30-Sep-26 |
30-Sep-25 |
Variance |
30-Sep-26 |
30-Sep-25 |
Variance |
30-Sep-26 |
30-Sep-25 |
Variance |
Rate |
Volume |
||||||||||||||||||||||||||
(In millions) |
(In thousands) |
|||||||||||||||||||||||||||||||||||
$ |
4,933 |
$ |
6,205 |
$ |
(1,272 |
) |
3.72 |
% |
4.45 |
% |
(0.73 |
)% |
Money market investments |
$ |
137,129 |
$ |
206,565 |
$ |
(69,436 |
) |
$ |
(30,967 |
) |
$ |
(38,469 |
) |
||||||||||
30,894 |
28,729 |
2,165 |
3.68 |
3.28 |
0.40 |
Investment securities [1] |
850,841 |
705,879 |
144,962 |
87,165 |
57,797 |
|||||||||||||||||||||||||
33 |
29 |
4 |
5.58 |
5.74 |
(0.16 |
) |
Trading securities |
1,394 |
1,237 |
157 |
(37 |
) |
194 |
|||||||||||||||||||||||
35,860 |
34,963 |
897 |
3.69 |
3.49 |
0.20 |
Total money market, investment and trading securities |
989,364 |
913,681 |
75,683 |
56,161 |
19,522 |
|||||||||||||||||||||||||
Loans: |
||||||||||||||||||||||||||||||||||||
19,938 |
18,802 |
1,136 |
6.76 |
6.72 |
0.04 |
Commercial |
1,007,409 |
945,330 |
62,079 |
4,699 |
57,380 |
|||||||||||||||||||||||||
1,714 |
1,440 |
274 |
7.94 |
8.19 |
(0.25 |
) |
Construction |
101,825 |
88,179 |
13,646 |
(2,676 |
) |
16,322 |
|||||||||||||||||||||||
1,968 |
1,961 |
7 |
7.40 |
7.18 |
0.22 |
Leasing |
109,252 |
105,650 |
3,602 |
3,239 |
363 |
|||||||||||||||||||||||||
8,736 |
8,331 |
405 |
6.13 |
5.89 |
0.24 |
Mortgage |
401,875 |
368,141 |
33,734 |
15,467 |
18,267 |
|||||||||||||||||||||||||
3,334 |
3,224 |
110 |
13.71 |
14.10 |
(0.39 |
) |
Consumer |
341,874 |
339,880 |
1,994 |
(9,009 |
) |
11,003 |
|||||||||||||||||||||||
3,868 |
3,935 |
(67 |
) |
9.32 |
9.00 |
0.32 |
Auto |
269,685 |
264,905 |
4,780 |
9,292 |
(4,512 |
) |
|||||||||||||||||||||||
39,558 |
37,693 |
1,865 |
7.54 |
7.49 |
0.05 |
Total loans |
2,231,920 |
2,112,085 |
119,835 |
21,012 |
98,823 |
|||||||||||||||||||||||||
$ |
75,418 |
$ |
72,656 |
$ |
2,762 |
5.71 |
% |
5.57 |
% |
0.14 |
% |
Total earning assets |
$ |
3,221,284 |
$ |
3,025,766 |
$ |
195,518 |
$ |
77,173 |
$ |
118,345 |
||||||||||||||
Interest bearing deposits: |
||||||||||||||||||||||||||||||||||||
$ |
8,722 |
$ |
8,077 |
$ |
645 |
1.66 |
% |
1.73 |
% |
(0.07 |
)% |
NOW and money market |
$ |
108,537 |
$ |
104,711 |
$ |
3,826 |
$ |
(8,150 |
) |
$ |
11,976 |
|||||||||||||
14,662 |
14,547 |
115 |
0.78 |
0.84 |
(0.06 |
) |
Savings |
85,262 |
91,430 |
(6,168 |
) |
(3,378 |
) |
(2,790 |
) |
|||||||||||||||||||||
8,861 |
8,587 |
274 |
2.98 |
3.17 |
(0.19 |
) |
Time deposits |
197,643 |
203,909 |
(6,266 |
) |
(12,640 |
) |
6,374 |
||||||||||||||||||||||
21,504 |
20,464 |
1,040 |
2.66 |
3.24 |
(0.58 |
) |
P.R public deposits |
428,415 |
496,303 |
(67,888 |
) |
(90,826 |
) |
22,938 |
||||||||||||||||||||||
53,749 |
51,675 |
2,074 |
2.04 |
2.32 |
(0.28 |
) |
Total interest bearing deposits |
819,857 |
896,353 |
(76,496 |
) |
(114,994 |
) |
38,498 |
||||||||||||||||||||||
15,091 |
14,778 |
313 |
Non-interest bearing demand deposits |
|||||||||||||||||||||||||||||||||
68,840 |
66,453 |
2,387 |
1.59 |
1.80 |
(0.21 |
) |
Total deposits |
819,857 |
896,353 |
(76,496 |
) |
(114,994 |
) |
38,498 |
||||||||||||||||||||||
610 |
333 |
277 |
3.89 |
4.55 |
(0.66 |
) |
Short-term borrowings |
17,756 |
11,342 |
6,414 |
(1,830 |
) |
8,244 |
|||||||||||||||||||||||
743 |
835 |
(92 |
) |
6.38 |
5.79 |
0.59 |
Other medium and long-term debt |
35,486 |
36,173 |
(687 |
) |
3,668 |
(4,355 |
) |
||||||||||||||||||||||
55,102 |
52,843 |
2,259 |
2.12 |
2.39 |
(0.27 |
) |
Total interest bearing liabilities (excluding demand deposits) |
873,099 |
943,868 |
(70,769 |
) |
(113,156 |
) |
42,387 |
||||||||||||||||||||||
5,225 |
5,035 |
190 |
Other sources of funds |
|||||||||||||||||||||||||||||||||
$ |
75,418 |
$ |
72,656 |
$ |
2,762 |
1.55 |
% |
1.74 |
% |
(0.19 |
)% |
Total source of funds |
$ |
873,099 |
$ |
943,868 |
$ |
(70,769 |
) |
$ |
(113,156 |
) |
$ |
42,387 |
||||||||||||
4.16 |
% |
3.83 |
% |
0.33 |
% |
Net interest margin/ income on a taxable equivalent basis (Non-GAAP) |
$ |
2,348,185 |
$ |
2,081,898 |
$ |
266,287 |
$ |
190,329 |
$ |
75,958 |
||||||||||||||||||||
3.59 |
% |
3.18 |
% |
0.41 |
% |
Net interest spread |
||||||||||||||||||||||||||||||
Taxable equivalent adjustment |
285,656 |
198,247 |
87,409 |
|||||||||||||||||||||||||||||||||
3.65 |
% |
3.46 |
% |
0.19 |
% |
Net interest margin/ income non-taxable equivalent basis (GAAP) |
$ |
2,062,529 |
$ |
1,883,651 |
$ |
178,878 |
||||||||||||||||||||||||
Note: The changes that are not due solely to volume or rate are allocated to volume and rate based on the proportion of the change in each category. [1] Average balances exclude unrealized gains or losses on debt securities available-for-sale and the unrealized loss related to certain securities transferred from available-for-sale to held-to-maturity. |
||||||||||||||||||||||||||||||||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table G - Mortgage Banking Activities and Other Service Fees (Unaudited) Mortgage Banking Activities |
||||||||||||||||||||||||
Quarters ended |
Variance |
Nine months ended |
||||||||||||||||||||||
(In thousands) |
30-Sep-26 |
30-Jun-26 |
30-Sep-25 |
Δ vs 30-
|
Δ vs 30-
|
30-Sep-26 |
30-Sep-25 |
Δ vs 30-
|
||||||||||||||||
Mortgage servicing fees, net of fair value adjustments: |
||||||||||||||||||||||||
Mortgage servicing fees |
$ |
6,173 |
$ |
6,416 |
$ |
6,744 |
$ |
(243 |
) |
$ |
(571 |
) |
$ |
19,072 |
$ |
20,824 |
$ |
(1,752 |
) |
|||||
Mortgage servicing rights fair value adjustments |
(1,497 |
) |
(232 |
) |
(3,835 |
) |
(1,265 |
) |
2,338 |
(4,368 |
) |
(9,359 |
) |
4,991 |
||||||||||
Total mortgage servicing fees, net of fair value adjustments |
4,676 |
6,184 |
2,909 |
(1,508 |
) |
1,767 |
14,704 |
11,465 |
3,239 |
|||||||||||||||
Net (loss) gain on sale of loans, including valuation on loans held-for-sale |
(17 |
) |
159 |
(53 |
) |
(176 |
) |
36 |
460 |
103 |
357 |
|||||||||||||
Trading account (loss) profit: |
||||||||||||||||||||||||
Unrealized (losses) gains on outstanding derivative positions |
124 |
(52 |
) |
51 |
176 |
73 |
147 |
(44 |
) |
191 |
||||||||||||||
Realized (losses) gains on closed derivative positions |
69 |
13 |
(122 |
) |
56 |
191 |
63 |
(131 |
) |
194 |
||||||||||||||
Total trading account (loss) profit |
193 |
(39 |
) |
(71 |
) |
232 |
264 |
210 |
(175 |
) |
385 |
|||||||||||||
Losses on repurchased loans, including interest advances |
— |
(37 |
) |
(14 |
) |
37 |
14 |
(42 |
) |
(61 |
) |
19 |
||||||||||||
Total mortgage banking activities |
$ |
4,852 |
$ |
6,267 |
$ |
2,771 |
$ |
(1,415 |
) |
$ |
2,081 |
$ |
15,332 |
$ |
11,332 |
$ |
4,000 |
|||||||
Other Service Fees |
|||||||||||||||||||||||||
Quarters ended |
Variance |
Nine months ended |
|||||||||||||||||||||||
(In thousands) |
30-Sep-26 |
30-Jun-26 |
30-Sep-25 |
Δ vs 30-
|
Δ vs 30-
|
30-Sep-26 |
30-Sep-25 |
Δ vs 30-
|
|||||||||||||||||
Other service fees: |
|||||||||||||||||||||||||
Debit card fees |
$ |
30,841 |
$ |
31,538 |
$ |
28,084 |
$ |
(697 |
) |
$ |
2,757 |
$ |
92,388 |
$ |
82,434 |
$ |
9,954 |
||||||||
Insurance fees |
12,893 |
12,586 |
12,995 |
307 |
(102 |
) |
38,004 |
36,999 |
1,005 |
||||||||||||||||
Credit card fees |
35,270 |
34,783 |
32,668 |
487 |
2,602 |
102,054 |
95,300 |
6,754 |
|||||||||||||||||
Sale and administration of investment products |
11,007 |
9,998 |
9,459 |
1,009 |
1,548 |
31,192 |
27,490 |
3,702 |
|||||||||||||||||
Trust fees |
7,911 |
7,751 |
6,998 |
160 |
913 |
23,001 |
19,924 |
3,077 |
|||||||||||||||||
Other fees |
12,662 |
12,136 |
11,172 |
526 |
1,490 |
35,658 |
34,259 |
1,399 |
|||||||||||||||||
Total other service fees |
$ |
110,584 |
$ |
108,792 |
$ |
101,376 |
$ |
1,792 |
$ |
9,208 |
$ |
322,297 |
$ |
296,406 |
$ |
25,891 |
|||||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table H - Consolidated Loans and Deposits (Unaudited) Loans - Ending Balances |
||||||||||||||||||||||
Quarters ended |
Variance |
|||||||||||||||||||||
(Dollars in thousands) |
30-Sep-26 |
30-Jun-26 |
30-Sep-25 |
Δ vs 30-Jun-26 |
% of Change |
Δ vs 30-Sep-25 |
% of Change |
|||||||||||||||
Loans held-in-portfolio: |
||||||||||||||||||||||
Commercial |
||||||||||||||||||||||
Commercial multi-family |
$ |
2,396,981 |
$ |
2,399,424 |
$ |
2,489,589 |
$ |
(2,443 |
) |
(0.10 |
%) |
$ |
(92,608 |
) |
(3.72 |
%) |
||||||
Commercial real estate non-owner occupied |
5,842,740 |
5,620,875 |
5,462,580 |
221,865 |
3.95 |
% |
380,160 |
6.96 |
% |
|||||||||||||
Commercial real estate owner occupied |
3,412,200 |
3,256,702 |
3,090,724 |
155,498 |
4.77 |
% |
321,476 |
10.40 |
% |
|||||||||||||
Commercial and industrial |
8,709,058 |
8,774,084 |
8,245,639 |
(65,026 |
) |
(0.74 |
%) |
463,419 |
5.62 |
% |
||||||||||||
Total Commercial |
20,360,979 |
20,051,085 |
19,288,532 |
309,894 |
1.55 |
% |
1,072,447 |
5.56 |
% |
|||||||||||||
Construction |
1,585,873 |
1,732,075 |
1,604,612 |
(146,202 |
) |
(8.44 |
%) |
(18,739 |
) |
(1.17 |
%) |
|||||||||||
Mortgage |
8,860,185 |
8,780,334 |
8,558,408 |
79,851 |
0.91 |
% |
301,777 |
3.53 |
% |
|||||||||||||
Leasing |
1,952,125 |
1,968,035 |
1,998,651 |
(15,910 |
) |
(0.81 |
%) |
(46,526 |
) |
(2.33 |
%) |
|||||||||||
Consumer |
||||||||||||||||||||||
Credit cards |
1,260,053 |
1,237,997 |
1,225,567 |
22,056 |
1.78 |
% |
34,486 |
2.81 |
% |
|||||||||||||
Home equity lines of credit |
88,606 |
85,357 |
78,890 |
3,249 |
3.81 |
% |
9,716 |
12.32 |
% |
|||||||||||||
Personal |
1,994,260 |
1,952,725 |
1,900,325 |
41,535 |
2.13 |
% |
93,935 |
4.94 |
% |
|||||||||||||
Auto |
3,756,459 |
3,766,648 |
3,850,953 |
(10,189 |
) |
(0.27 |
%) |
(94,494 |
) |
(2.45 |
%) |
|||||||||||
Other |
184,116 |
175,606 |
181,220 |
8,510 |
4.85 |
% |
2,896 |
1.60 |
% |
|||||||||||||
Total Consumer |
7,283,494 |
7,218,333 |
7,236,955 |
65,161 |
0.90 |
% |
46,539 |
0.64 |
% |
|||||||||||||
Total loans held-in-portfolio |
$ |
40,042,656 |
$ |
39,749,862 |
$ |
38,687,158 |
$ |
292,794 |
0.74 |
% |
$ |
1,355,498 |
3.50 |
% |
||||||||
Loans held-for-sale: |
||||||||||||||||||||||
Commercial |
$ |
— |
$ |
83,700 |
$ |
— |
$ |
(83,700 |
) |
— |
% |
$ |
— |
— |
% |
|||||||
Mortgage |
$ |
3,214 |
$ |
4,879 |
$ |
7,783 |
$ |
(1,665 |
) |
(34.13 |
%) |
$ |
(4,569 |
) |
(58.70 |
%) |
||||||
Total loans held-for-sale |
$ |
3,214 |
$ |
88,579 |
$ |
7,783 |
$ |
(85,365 |
) |
(96.37 |
%) |
$ |
(4,569 |
) |
(58.70 |
%) |
||||||
Total loans |
$ |
40,045,870 |
$ |
39,838,441 |
$ |
38,694,941 |
$ |
207,429 |
0.52 |
% |
$ |
1,350,929 |
3.49 |
% |
||||||||
Deposits - Ending Balances |
||||||||||||||||||||||
Quarters ended |
Variance |
|||||||||||||||||||||
(In thousands) |
30-Sep-26 |
30-Jun-26 |
30-Sep-25 [2] |
Δ vs 30-Jun-26 |
% of Change |
Δ vs 30-Sep-25 |
% of Change |
|||||||||||||||
Deposits excluding P.R. public deposits: |
||||||||||||||||||||||
Demand deposits |
$ |
15,005,068 |
$ |
15,085,454 |
$ |
14,874,026 |
$ |
(80,386 |
) |
(0.53 |
%) |
$ |
131,042 |
0.88 |
% |
|||||||
Savings, NOW and money market deposits (non-brokered) |
23,037,725 |
23,376,410 |
22,538,837 |
(338,685 |
) |
(1.45 |
%) |
498,888 |
2.21 |
% |
||||||||||||
Savings, NOW and money market deposits (brokered) |
75,278 |
79,505 |
84,592 |
(4,227 |
) |
(5.32 |
%) |
(9,314 |
) |
(11.01 |
%) |
|||||||||||
Time deposits (non-brokered) |
8,227,389 |
8,113,712 |
8,113,659 |
113,677 |
1.40 |
% |
113,730 |
1.40 |
% |
|||||||||||||
Time deposits (brokered CDs) |
893,371 |
873,116 |
826,182 |
20,255 |
2.32 |
% |
67,189 |
8.13 |
% |
|||||||||||||
Sub-total deposits excluding P.R. public deposits |
47,238,831 |
47,528,197 |
46,437,296 |
(289,366 |
) |
(0.61 |
%) |
801,535 |
1.73 |
% |
||||||||||||
P.R. public deposits: |
||||||||||||||||||||||
Demand deposits [1] |
11,033,195 |
11,438,732 |
12,487,246 |
(405,537 |
) |
(3.55 |
%) |
(1,454,051 |
) |
(11.64 |
%) |
|||||||||||
Savings, NOW and money market deposits (non-brokered) |
9,515,457 |
10,347,936 |
6,907,309 |
(832,479 |
) |
(8.04 |
%) |
2,608,148 |
37.76 |
% |
||||||||||||
Time deposits (non-brokered) |
917,508 |
918,250 |
681,553 |
(742 |
) |
(0.08 |
%) |
235,955 |
34.62 |
% |
||||||||||||
Sub-total P.R. public deposits |
21,466,160 |
22,704,918 |
20,076,108 |
(1,238,758 |
) |
(5.46 |
%) |
1,390,052 |
6.92 |
% |
||||||||||||
Total deposits |
$ |
68,704,991 |
$ |
70,233,115 |
$ |
66,513,404 |
$ |
(1,528,124 |
) |
(2.18 |
%) |
$ |
2,191,587 |
3.29 |
% |
|||||||
[1] Includes interest bearing demand deposits. [2] Savings, NOW and money market deposits include reciprocal deposits of $844 million as of September 30, 2026 (June 30, 2026 - $841 million; September 30, 2025 - $799 million) that were categorized as brokered deposits during 2025 and re-characterized as non-brokered in 2026. Similarly, Time deposits include reciprocal deposits of $88 million as of September 30, 2026 (June 30, 2026 - $75 million; September 30, 2025 - $100 million) that were categorized as brokered deposits during 2025 and re-characterized as non-brokered in 2026. The presentation for September 30, 2025 has been adjusted to conform to the presentation for September 30, 2026. |
||||||||||||||||||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table I - Loan Delinquency - BPPR Operations (Unaudited) |
||||||||||||||||
30-Sep-26 |
||||||||||||||||
BPPR |
||||||||||||||||
Past due |
Past due 90 days or more |
|||||||||||||||
(In thousands) |
30-59
|
60-89
|
90 days
|
Total past due |
Current |
Loans HIP |
Non-accrual loans |
Accruing loans |
||||||||
Commercial multi-family |
$ |
4,608 |
$ |
2,472 |
$ |
3,222 |
$ |
10,302 |
$ |
334,459 |
$ |
344,761 |
$ |
3,222 |
$ |
— |
Commercial real estate: |
||||||||||||||||
Non-owner occupied |
4,925 |
138 |
25,930 |
30,993 |
3,376,262 |
3,407,255 |
25,930 |
— |
||||||||
Owner occupied |
5,892 |
1,238 |
18,601 |
25,731 |
1,179,548 |
1,205,279 |
18,601 |
— |
||||||||
Commercial and industrial |
5,920 |
2,721 |
188,053 |
196,694 |
5,893,457 |
6,090,151 |
183,940 |
4,113 |
||||||||
Construction |
11,944 |
— |
— |
11,944 |
457,743 |
469,687 |
— |
— |
||||||||
Mortgage |
245,242 |
115,758 |
320,383 |
681,383 |
6,963,994 |
7,645,377 |
130,982 |
189,401 |
||||||||
Leasing |
22,785 |
5,283 |
7,713 |
35,781 |
1,916,344 |
1,952,125 |
7,713 |
— |
||||||||
Consumer: |
||||||||||||||||
Credit cards |
14,018 |
9,957 |
24,279 |
48,254 |
1,211,793 |
1,260,047 |
— |
24,279 |
||||||||
Home equity lines of credit |
— |
— |
— |
— |
1,818 |
1,818 |
— |
— |
||||||||
Personal |
21,317 |
12,624 |
16,349 |
50,290 |
1,891,960 |
1,942,250 |
16,349 |
— |
||||||||
Auto |
111,097 |
20,747 |
32,223 |
164,067 |
3,592,392 |
3,756,459 |
32,223 |
— |
||||||||
Other |
340 |
121 |
3,491 |
3,952 |
165,537 |
169,489 |
2,994 |
497 |
||||||||
Total |
$ |
448,088 |
$ |
171,059 |
$ |
640,244 |
$ |
1,259,391 |
$ |
26,985,307 |
$ |
28,244,698 |
$ |
421,954 |
$ |
218,290 |
30-Jun-26 |
||||||||||||||||
BPPR |
||||||||||||||||
Past due |
Past due 90 days or more |
|||||||||||||||
(In thousands) |
30-59
|
60-89
|
90 days
|
Total past due |
Current |
Loans HIP |
Non-accrual loans |
Accruing loans |
||||||||
Commercial multi-family |
$ |
10,723 |
$ |
— |
$ |
— |
$ |
10,723 |
$ |
335,236 |
$ |
345,959 |
$ |
— |
$ |
— |
Commercial real estate: |
||||||||||||||||
Non-owner occupied |
2,750 |
160 |
26,016 |
28,926 |
3,292,169 |
3,321,095 |
26,016 |
— |
||||||||
Owner occupied |
2,053 |
— |
15,374 |
17,427 |
1,139,254 |
1,156,681 |
15,374 |
— |
||||||||
Commercial and industrial |
5,063 |
2,084 |
142,947 |
150,094 |
6,012,974 |
6,163,068 |
138,389 |
4,558 |
||||||||
Construction |
— |
— |
— |
— |
425,850 |
425,850 |
— |
— |
||||||||
Mortgage |
228,082 |
108,220 |
320,739 |
657,041 |
6,872,509 |
7,529,550 |
129,240 |
191,499 |
||||||||
Leasing |
22,358 |
5,549 |
7,182 |
35,089 |
1,932,946 |
1,968,035 |
7,182 |
— |
||||||||
Consumer: |
||||||||||||||||
Credit cards |
12,058 |
8,488 |
23,367 |
43,913 |
1,194,097 |
1,238,010 |
— |
23,367 |
||||||||
Home equity lines of credit |
— |
— |
— |
— |
1,852 |
1,852 |
— |
— |
||||||||
Personal |
17,784 |
10,789 |
16,605 |
45,178 |
1,850,841 |
1,896,019 |
16,605 |
— |
||||||||
Auto |
99,765 |
19,552 |
31,474 |
150,791 |
3,615,857 |
3,766,648 |
31,474 |
— |
||||||||
Other |
327 |
796 |
3,869 |
4,992 |
159,077 |
164,069 |
3,544 |
325 |
||||||||
Total |
$ |
400,963 |
$ |
155,638 |
$ |
587,573 |
$ |
1,144,174 |
$ |
26,832,662 |
$ |
27,976,836 |
$ |
367,824 |
$ |
219,749 |
Variance |
||||||||||||||||||||||||
Past due |
Past due 90 days or more |
|||||||||||||||||||||||
(In thousands) |
30-59 days |
60-89 days |
90 days or more |
Total past due |
Current |
Loans HIP |
Non-accrual loans |
Accruing loans |
||||||||||||||||
Commercial multi-family |
$ |
(6,115 |
) |
$ |
2,472 |
$ |
3,222 |
$ |
(421 |
) |
$ |
(777 |
) |
$ |
(1,198 |
) |
$ |
3,222 |
$ |
— |
||||
Commercial real estate: |
||||||||||||||||||||||||
Non-owner occupied |
2,175 |
(22 |
) |
(86 |
) |
2,067 |
84,093 |
86,160 |
(86 |
) |
— |
|||||||||||||
Owner occupied |
3,839 |
1,238 |
3,227 |
8,304 |
40,294 |
48,598 |
3,227 |
— |
||||||||||||||||
Commercial and industrial |
857 |
637 |
45,106 |
46,600 |
(119,517 |
) |
(72,917 |
) |
45,551 |
(445 |
) |
|||||||||||||
Construction |
11,944 |
— |
— |
11,944 |
31,893 |
43,837 |
— |
— |
||||||||||||||||
Mortgage |
17,160 |
7,538 |
(356 |
) |
24,342 |
91,485 |
115,827 |
1,742 |
(2,098 |
) |
||||||||||||||
Leasing |
427 |
(266 |
) |
531 |
692 |
(16,602 |
) |
(15,910 |
) |
531 |
— |
|||||||||||||
Consumer: |
||||||||||||||||||||||||
Credit cards |
1,960 |
1,469 |
912 |
4,341 |
17,696 |
22,037 |
— |
912 |
||||||||||||||||
Home equity lines of credit |
— |
— |
— |
— |
(34 |
) |
(34 |
) |
— |
— |
||||||||||||||
Personal |
3,533 |
1,835 |
(256 |
) |
5,112 |
41,119 |
46,231 |
(256 |
) |
— |
||||||||||||||
Auto |
11,332 |
1,195 |
749 |
13,276 |
(23,465 |
) |
(10,189 |
) |
749 |
— |
||||||||||||||
Other |
13 |
(675 |
) |
(378 |
) |
(1,040 |
) |
6,460 |
5,420 |
(550 |
) |
172 |
||||||||||||
Total |
$ |
47,125 |
$ |
15,421 |
$ |
52,671 |
$ |
115,217 |
$ |
152,645 |
$ |
267,862 |
$ |
54,130 |
$ |
(1,459 |
) |
|||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table J - Loan Delinquency - Popular U.S. Operations (Unaudited) |
||||||||||||||||
30-Sep-26 |
||||||||||||||||
Popular U.S. |
||||||||||||||||
Past due |
Past due 90 days or more |
|||||||||||||||
(In thousands) |
30-59 days |
60-89 days |
90 days or more |
Total past due |
Current |
Loans HIP |
Non-accrual loans |
Accruing loans |
||||||||
Commercial multi-family |
$ |
4,985 |
$ |
2,132 |
$ |
7,151 |
$ |
14,268 |
$ |
2,037,952 |
$ |
2,052,220 |
$ |
7,151 |
$ |
— |
Commercial real estate: |
— |
|||||||||||||||
Non-owner occupied |
27,718 |
2,059 |
6,329 |
36,106 |
2,399,379 |
2,435,485 |
6,329 |
— |
||||||||
Owner occupied |
5,048 |
— |
8,865 |
13,913 |
2,193,008 |
2,206,921 |
8,865 |
— |
||||||||
Commercial and industrial |
8,696 |
7,792 |
8,632 |
25,120 |
2,593,787 |
2,618,907 |
8,469 |
163 |
||||||||
Construction |
— |
12,491 |
— |
12,491 |
1,103,695 |
1,116,186 |
— |
— |
||||||||
Mortgage |
1,276 |
3,977 |
9,256 |
14,509 |
1,200,299 |
1,214,808 |
9,256 |
— |
||||||||
Consumer: |
— |
|||||||||||||||
Credit cards |
— |
— |
— |
— |
6 |
6 |
— |
— |
||||||||
Home equity lines of credit |
735 |
1,046 |
2,876 |
4,657 |
82,131 |
86,788 |
2,876 |
— |
||||||||
Personal |
614 |
399 |
837 |
1,850 |
50,160 |
52,010 |
837 |
— |
||||||||
Other |
— |
— |
48 |
48 |
14,579 |
14,627 |
48 |
— |
||||||||
Total |
$ |
49,072 |
$ |
29,896 |
$ |
43,994 |
$ |
122,962 |
$ |
11,674,996 |
$ |
11,797,958 |
$ |
43,831 |
$ |
163 |
30-Jun-26 |
||||||||||||||||||
Popular U.S. |
||||||||||||||||||
Past due |
Past due 90 days or more |
|||||||||||||||||
(In thousands) |
30-59 days |
60-89 days |
90 days or more |
Total past due |
Current |
Loans HIP |
Non-accrual loans |
Accruing loans |
||||||||||
Commercial multi-family |
$ |
5,166 |
$ |
— |
$ |
8,931 |
$ |
14,097 |
$ |
2,039,368 |
$ |
2,053,465 |
$ |
8,931 |
$ |
— |
||
Commercial real estate: |
— |
|||||||||||||||||
Non-owner occupied |
1,600 |
3,391 |
6,950 |
11,941 |
2,287,839 |
2,299,780 |
6,950 |
— |
||||||||||
Owner occupied |
994 |
1,438 |
8,865 |
11,297 |
2,088,724 |
2,100,021 |
8,865 |
— |
||||||||||
Commercial and industrial |
5,672 |
58 |
6,737 |
12,467 |
2,598,549 |
2,611,016 |
6,563 |
174 |
||||||||||
Construction |
— |
12,491 |
— |
12,491 |
1,293,734 |
1,306,225 |
— |
— |
||||||||||
Mortgage |
898 |
2,773 |
10,233 |
13,904 |
1,236,880 |
1,250,784 |
10,233 |
— |
||||||||||
Consumer: |
— |
|||||||||||||||||
Credit cards |
— |
— |
— |
— |
(13 |
) |
(13 |
) |
— |
— |
||||||||
Home equity lines of credit |
912 |
119 |
3,320 |
4,351 |
79,154 |
83,505 |
3,320 |
— |
||||||||||
Personal |
513 |
656 |
751 |
1,920 |
54,786 |
56,706 |
751 |
— |
||||||||||
Other |
441 |
— |
— |
441 |
11,096 |
11,537 |
— |
— |
||||||||||
Total |
$ |
16,196 |
$ |
20,926 |
$ |
45,787 |
$ |
82,909 |
$ |
11,690,117 |
$ |
11,773,026 |
$ |
45,613 |
$ |
174 |
||
Variance |
||||||||||||||||||||||||
Past due |
Past due 90 days or more |
|||||||||||||||||||||||
(In thousands) |
30-59 days |
60-89 days |
90 days or more |
Total past due |
Current |
Loans HIP |
Non-accrual loans |
Accruing loans |
||||||||||||||||
Commercial multi-family |
$ |
(181 |
) |
$ |
2,132 |
$ |
(1,780 |
) |
$ |
171 |
$ |
(1,416 |
) |
$ |
(1,245 |
) |
$ |
(1,780 |
) |
$ |
— |
|||
Commercial real estate: |
||||||||||||||||||||||||
Non-owner occupied |
26,118 |
(1,332 |
) |
(621 |
) |
24,165 |
111,540 |
135,705 |
(621 |
) |
— |
|||||||||||||
Owner occupied |
4,054 |
(1,438 |
) |
— |
2,616 |
104,284 |
106,900 |
— |
— |
|||||||||||||||
Commercial and industrial |
3,024 |
7,734 |
1,895 |
12,653 |
(4,762 |
) |
7,891 |
1,906 |
(11 |
) |
||||||||||||||
Construction |
— |
— |
— |
— |
(190,039 |
) |
(190,039 |
) |
— |
— |
||||||||||||||
Mortgage |
378 |
1,204 |
(977 |
) |
605 |
(36,581 |
) |
(35,976 |
) |
(977 |
) |
— |
||||||||||||
Consumer: |
||||||||||||||||||||||||
Credit cards |
— |
— |
— |
— |
19 |
19 |
— |
— |
||||||||||||||||
Home equity lines of credit |
(177 |
) |
927 |
(444 |
) |
306 |
2,977 |
3,283 |
(444 |
) |
— |
|||||||||||||
Personal |
101 |
(257 |
) |
86 |
(70 |
) |
(4,626 |
) |
(4,696 |
) |
86 |
— |
||||||||||||
Other |
(441 |
) |
— |
48 |
(393 |
) |
3,483 |
3,090 |
48 |
— |
||||||||||||||
Total |
$ |
32,876 |
$ |
8,970 |
$ |
(1,793 |
) |
$ |
40,053 |
$ |
(15,121 |
) |
$ |
24,932 |
$ |
(1,782 |
) |
$ |
(11 |
) |
||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table K - Loan Delinquency - Consolidated (Unaudited) |
||||||||||||||||
30-Sep-26 |
||||||||||||||||
Popular, Inc. |
||||||||||||||||
Past due |
Past due 90 days or more |
|||||||||||||||
(In thousands) |
30-59 days |
60-89 days |
90 days or more |
Total past due |
Current |
Loans HIP |
Non-accrual loans |
Accruing loans |
||||||||
Commercial multi-family |
$ |
9,593 |
$ |
4,604 |
$ |
10,373 |
$ |
24,570 |
$ |
2,372,411 |
$ |
2,396,981 |
$ |
10,373 |
$ |
— |
Commercial real estate: |
||||||||||||||||
Non-owner occupied |
32,643 |
2,197 |
32,259 |
67,099 |
5,775,641 |
5,842,740 |
32,259 |
— |
||||||||
Owner occupied |
10,940 |
1,238 |
27,466 |
39,644 |
3,372,556 |
3,412,200 |
27,466 |
— |
||||||||
Commercial and industrial |
14,616 |
10,513 |
196,685 |
221,814 |
8,487,244 |
8,709,058 |
192,409 |
4,276 |
||||||||
Construction |
11,944 |
12,491 |
— |
24,435 |
1,561,438 |
1,585,873 |
— |
— |
||||||||
Mortgage |
246,518 |
119,735 |
329,639 |
695,892 |
8,164,293 |
8,860,185 |
140,238 |
189,401 |
||||||||
Leasing |
22,785 |
5,283 |
7,713 |
35,781 |
1,916,344 |
1,952,125 |
7,713 |
— |
||||||||
Consumer: |
||||||||||||||||
Credit cards |
14,018 |
9,957 |
24,279 |
48,254 |
1,211,799 |
1,260,053 |
— |
24,279 |
||||||||
Home equity lines of credit |
735 |
1,046 |
2,876 |
4,657 |
83,949 |
88,606 |
2,876 |
— |
||||||||
Personal |
21,931 |
13,023 |
17,186 |
52,140 |
1,942,120 |
1,994,260 |
17,186 |
— |
||||||||
Auto |
111,097 |
20,747 |
32,223 |
164,067 |
3,592,392 |
3,756,459 |
32,223 |
— |
||||||||
Other |
340 |
121 |
3,539 |
4,000 |
180,116 |
184,116 |
3,042 |
497 |
||||||||
Total |
$ |
497,160 |
$ |
200,955 |
$ |
684,238 |
$ |
1,382,353 |
$ |
38,660,303 |
$ |
40,042,656 |
$ |
465,785 |
$ |
218,453 |
30-Jun-26 |
||||||||||||||||
Popular, Inc. |
||||||||||||||||
Past due |
Past due 90 days or more |
|||||||||||||||
(In thousands) |
30-59 days |
60-89 days |
90 days or more |
Total past due |
Current |
Loans HIP |
Non-accrual loans |
Accruing loans |
||||||||
Commercial multi-family |
$ |
15,889 |
$ |
— |
$ |
8,931 |
$ |
24,820 |
$ |
2,374,604 |
$ |
2,399,424 |
$ |
8,931 |
$ |
— |
Commercial real estate: |
||||||||||||||||
Non-owner occupied |
4,350 |
3,551 |
32,966 |
40,867 |
5,580,008 |
5,620,875 |
32,966 |
— |
||||||||
Owner occupied |
3,047 |
1,438 |
24,239 |
28,724 |
3,227,978 |
3,256,702 |
24,239 |
— |
||||||||
Commercial and industrial |
10,735 |
2,142 |
149,684 |
162,561 |
8,611,523 |
8,774,084 |
144,952 |
4,732 |
||||||||
Construction |
— |
12,491 |
— |
12,491 |
1,719,584 |
1,732,075 |
— |
— |
||||||||
Mortgage |
228,980 |
110,993 |
330,972 |
670,945 |
8,109,389 |
8,780,334 |
139,473 |
191,499 |
||||||||
Leasing |
22,358 |
5,549 |
7,182 |
35,089 |
1,932,946 |
1,968,035 |
7,182 |
— |
||||||||
Consumer: |
||||||||||||||||
Credit cards |
12,058 |
8,488 |
23,367 |
43,913 |
1,194,084 |
1,237,997 |
— |
23,367 |
||||||||
Home equity lines of credit |
912 |
119 |
3,320 |
4,351 |
81,006 |
85,357 |
3,320 |
— |
||||||||
Personal |
18,297 |
11,445 |
17,356 |
47,098 |
1,905,627 |
1,952,725 |
17,356 |
— |
||||||||
Auto |
99,765 |
19,552 |
31,474 |
150,791 |
3,615,857 |
3,766,648 |
31,474 |
— |
||||||||
Other |
768 |
796 |
3,869 |
5,433 |
170,173 |
175,606 |
3,544 |
325 |
||||||||
Total |
$ |
417,159 |
$ |
176,564 |
$ |
633,360 |
$ |
1,227,083 |
$ |
38,522,779 |
$ |
39,749,862 |
$ |
413,437 |
$ |
219,923 |
Variance |
||||||||||||||||||||||||
Past due |
Past due 90 days or more |
|||||||||||||||||||||||
(In thousands) |
30-59 days |
60-89 days |
90 days or more |
Total past due |
Current |
Loans HIP |
Non-accrual loans |
Accruing loans |
||||||||||||||||
Commercial multi-family |
$ |
(6,296 |
) |
$ |
4,604 |
$ |
1,442 |
$ |
(250 |
) |
$ |
(2,193 |
) |
$ |
(2,443 |
) |
$ |
1,442 |
$ |
— |
||||
Commercial real estate: |
||||||||||||||||||||||||
Non-owner occupied |
28,293 |
(1,354 |
) |
(707 |
) |
26,232 |
195,633 |
221,865 |
(707 |
) |
— |
|||||||||||||
Owner occupied |
7,893 |
(200 |
) |
3,227 |
10,920 |
144,578 |
155,498 |
3,227 |
— |
|||||||||||||||
Commercial and industrial |
3,881 |
8,371 |
47,001 |
59,253 |
(124,279 |
) |
(65,026 |
) |
47,457 |
(456 |
) |
|||||||||||||
Construction |
11,944 |
— |
— |
11,944 |
(158,146 |
) |
(146,202 |
) |
— |
— |
||||||||||||||
Mortgage |
17,538 |
8,742 |
(1,333 |
) |
24,947 |
54,904 |
79,851 |
765 |
(2,098 |
) |
||||||||||||||
Leasing |
427 |
(266 |
) |
531 |
692 |
(16,602 |
) |
(15,910 |
) |
531 |
— |
|||||||||||||
Consumer: |
||||||||||||||||||||||||
Credit cards |
1,960 |
1,469 |
912 |
4,341 |
17,715 |
22,056 |
— |
912 |
||||||||||||||||
Home equity lines of credit |
(177 |
) |
927 |
(444 |
) |
306 |
2,943 |
3,249 |
(444 |
) |
— |
|||||||||||||
Personal |
3,634 |
1,578 |
(170 |
) |
5,042 |
36,493 |
41,535 |
(170 |
) |
— |
||||||||||||||
Auto |
11,332 |
1,195 |
749 |
13,276 |
(23,465 |
) |
(10,189 |
) |
749 |
— |
||||||||||||||
Other |
(428 |
) |
(675 |
) |
(330 |
) |
(1,433 |
) |
9,943 |
8,510 |
(502 |
) |
172 |
|||||||||||
Total |
$ |
80,001 |
$ |
24,391 |
$ |
50,878 |
$ |
155,270 |
$ |
137,524 |
$ |
292,794 |
$ |
52,348 |
$ |
(1,470 |
) |
|||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table L - Non-Performing Assets (Unaudited) |
|||||||||||||||||||||||||||||
Variance |
|||||||||||||||||||||||||||||
(Dollars in thousands) |
30-Sep-26 |
As a % of
|
30-Jun-26 |
As a % of
|
30-Sep-25 |
As a % of
|
Q3 2026 vs. Q2 2026 |
Q3 2026 vs Q3 2025 |
|||||||||||||||||||||
Non-accrual loans: |
|||||||||||||||||||||||||||||
Commercial |
|||||||||||||||||||||||||||||
Commercial multi-family |
$ |
10,373 |
0.4 |
% |
$ |
8,931 |
0.4 |
% |
$ |
8,641 |
0.3 |
% |
$ |
1,442 |
$ |
1,732 |
|||||||||||||
Commercial real estate non-owner occupied |
32,259 |
0.6 |
32,966 |
0.6 |
44,126 |
0.8 |
(707 |
) |
(11,867 |
) |
|||||||||||||||||||
Commercial real estate owner occupied |
27,466 |
0.8 |
24,239 |
0.7 |
25,619 |
0.8 |
3,227 |
1,847 |
|||||||||||||||||||||
Commercial and industrial |
192,409 |
2.2 |
144,952 |
1.7 |
174,491 |
2.1 |
47,457 |
17,918 |
|||||||||||||||||||||
Total Commercial |
262,507 |
1.3 |
211,088 |
1.1 |
252,877 |
1.3 |
51,419 |
9,630 |
|||||||||||||||||||||
Mortgage |
140,238 |
1.6 |
139,473 |
1.6 |
167,767 |
2.0 |
765 |
(27,529 |
) |
||||||||||||||||||||
Leasing |
7,713 |
0.4 |
7,182 |
0.4 |
7,747 |
0.4 |
531 |
(34 |
) |
||||||||||||||||||||
Consumer |
|||||||||||||||||||||||||||||
Home equity lines of credit |
2,876 |
3.2 |
3,320 |
3.9 |
3,257 |
4.1 |
(444 |
) |
(381 |
) |
|||||||||||||||||||
Personal |
17,186 |
0.9 |
17,356 |
0.9 |
19,316 |
1.0 |
(170 |
) |
(2,130 |
) |
|||||||||||||||||||
Auto |
32,223 |
0.9 |
31,474 |
0.8 |
49,432 |
1.3 |
749 |
(17,209 |
) |
||||||||||||||||||||
Other |
3,042 |
1.7 |
3,544 |
2.0 |
1,806 |
1.0 |
(502 |
) |
1,236 |
||||||||||||||||||||
Total Consumer |
55,327 |
0.8 |
55,694 |
0.8 |
73,811 |
1.0 |
(367 |
) |
(18,484 |
) |
|||||||||||||||||||
Total non-performing loans held-in-portfolio |
465,785 |
1.2 |
% |
413,437 |
1.0 |
% |
502,202 |
1.3 |
% |
52,348 |
(36,417 |
) |
|||||||||||||||||
Non-performing loans held-for-sale |
— |
83,700 |
— |
(83,700 |
) |
— |
|||||||||||||||||||||||
Other real estate owned (“OREO”) |
44,299 |
49,557 |
42,950 |
(5,258 |
) |
1,349 |
|||||||||||||||||||||||
Total non-performing assets |
510,084 |
546,694 |
545,152 |
(36,610 |
) |
(35,068 |
) |
||||||||||||||||||||||
Accruing loans past due 90 days or more [1] |
218,453 |
219,923 |
205,356 |
$ |
(1,470 |
) |
$ |
13,097 |
|||||||||||||||||||||
Ratios: |
|||||||||||||||||||||||||||||
Non-performing assets to total assets |
0.66 |
% |
0.69 |
% |
0.73 |
% |
|||||||||||||||||||||||
Non-performing loans held-in-portfolio to loans held-in-portfolio |
1.16 |
1.04 |
1.30 |
||||||||||||||||||||||||||
Allowance for credit losses to loans held-in-portfolio |
1.92 |
1.97 |
2.03 |
||||||||||||||||||||||||||
Allowance for credit losses to non-performing loans, excluding loans held-for-sale |
165.46 |
189.83 |
156.55 |
||||||||||||||||||||||||||
[1] It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. These balances include $35 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of September 2026 (June 2026 - $40 million ; September 2025 - $49 million). Furthermore, the Corporation has approximately $23 million reverse mortgage loans which are guaranteed by FHA, as of September 2026 . Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets (June 2026 - $25 million ; September 2025 - $29 million ). |
|||||||||||||||||||||||||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table M - Activity in Non-Performing Loans (Unaudited) Commercial loans held-in-portfolio: |
|||||||||||||||||||||||
Quarter ended |
Quarter ended |
||||||||||||||||||||||
30-Sep-26 |
30-Jun-26 |
||||||||||||||||||||||
(In thousands) |
BPPR |
Popular U.S. |
Popular, Inc. |
BPPR |
Popular U.S. |
Popular, Inc. |
|||||||||||||||||
Beginning balance NPLs |
$ |
179,779 |
$ |
31,309 |
$ |
211,088 |
$ |
226,642 |
$ |
24,473 |
$ |
251,115 |
|||||||||||
Plus: |
|||||||||||||||||||||||
New non-performing loans |
91,131 |
5,924 |
97,055 |
136,095 |
16,382 |
152,477 |
|||||||||||||||||
Advances on existing non-performing loans |
— |
210 |
210 |
— |
62 |
62 |
|||||||||||||||||
Less: |
|||||||||||||||||||||||
Non-performing loans transferred to OREO |
— |
— |
— |
(301 |
) |
— |
(301 |
) |
|||||||||||||||
Non-performing loans charged-off |
(34,809 |
) |
(585 |
) |
(35,394 |
) |
(73,035 |
) |
(1,571 |
) |
(74,606 |
) |
|||||||||||
Loans returned to accrual status / loan collections |
(4,408 |
) |
(6,044 |
) |
(10,452 |
) |
(25,922 |
) |
(8,037 |
) |
(33,959 |
) |
|||||||||||
Loans transferred to held-for-sale |
— |
— |
— |
(83,700 |
) |
— |
(83,700 |
) |
|||||||||||||||
Ending balance NPLs |
$ |
231,693 |
$ |
30,814 |
$ |
262,507 |
$ |
179,779 |
$ |
31,309 |
$ |
211,088 |
|||||||||||
Mortgage loans held-in-portfolio: |
|||||||||||||||||||||||
Quarter ended |
Quarter ended |
||||||||||||||||||||||
30-Sep-26 |
30-Jun-26 |
||||||||||||||||||||||
(In thousands) |
BPPR |
Popular U.S. |
Popular, Inc. |
BPPR |
Popular U.S. |
Popular, Inc. |
|||||||||||||||||
Beginning balance NPLs |
$ |
129,240 |
$ |
10,233 |
$ |
139,473 |
$ |
129,367 |
$ |
9,700 |
$ |
139,067 |
|||||||||||
Plus: |
|||||||||||||||||||||||
New non-performing loans |
30,624 |
2,804 |
33,428 |
30,664 |
3,251 |
33,915 |
|||||||||||||||||
Advances on existing non-performing loans |
— |
— |
— |
— |
4 |
4 |
|||||||||||||||||
Less: |
|||||||||||||||||||||||
Non-performing loans transferred to OREO |
(1,497 |
) |
— |
(1,497 |
) |
(1,985 |
) |
— |
(1,985 |
) |
|||||||||||||
Non-performing loans charged-off |
44 |
(4 |
) |
40 |
119 |
(9 |
) |
110 |
|||||||||||||||
Loans returned to accrual status / loan collections |
(27,429 |
) |
(3,777 |
) |
(31,206 |
) |
(28,925 |
) |
(2,713 |
) |
(31,638 |
) |
|||||||||||
Ending balance NPLs |
$ |
130,982 |
$ |
9,256 |
$ |
140,238 |
$ |
129,240 |
$ |
10,233 |
$ |
139,473 |
|||||||||||
Total non-performing loans held-in-portfolio (excluding consumer): |
|||||||||||||||||||||||
Quarter ended |
Quarter ended |
||||||||||||||||||||||
30-Sep-26 |
30-Jun-26 |
||||||||||||||||||||||
(In thousands) |
BPPR |
Popular U.S. |
Popular, Inc. |
BPPR |
Popular U.S. |
Popular, Inc. |
|||||||||||||||||
Beginning balance NPLs |
$ |
309,019 |
$ |
41,542 |
$ |
350,561 |
$ |
356,009 |
$ |
34,173 |
$ |
390,182 |
|||||||||||
Plus: |
|||||||||||||||||||||||
New non-performing loans |
121,755 |
8,728 |
130,483 |
166,759 |
19,633 |
186,392 |
|||||||||||||||||
Advances on existing non-performing loans |
— |
210 |
210 |
— |
66 |
66 |
|||||||||||||||||
Less: |
|||||||||||||||||||||||
Non-performing loans transferred to OREO |
(1,497 |
) |
— |
(1,497 |
) |
(2,286 |
) |
— |
(2,286 |
) |
|||||||||||||
Non-performing loans charged-off |
(34,765 |
) |
(589 |
) |
(35,354 |
) |
(72,916 |
) |
(1,580 |
) |
(74,496 |
) |
|||||||||||
Loans returned to accrual status / loan collections |
(31,837 |
) |
(9,821 |
) |
(41,658 |
) |
(54,847 |
) |
(10,750 |
) |
(65,597 |
) |
|||||||||||
Loans transferred to held-for-sale |
— |
— |
— |
(83,700 |
) |
— |
(83,700 |
) |
|||||||||||||||
Ending balance NPLs |
$ |
362,675 |
$ |
40,070 |
$ |
402,745 |
$ |
309,019 |
$ |
41,542 |
$ |
350,561 |
|||||||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table N - Allowance for Credit Losses, Net Charge-offs and Related Ratios (Unaudited) |
|||||||||||
Quarters ended |
|||||||||||
(In thousands) |
30-Sep-26 |
30-Jun-26 |
30-Sep-25 |
||||||||
Balance at beginning of period - loans held-in-portfolio |
$ |
784,832 |
$ |
823,729 |
$ |
769,485 |
|||||
Provision for credit losses |
58,788 |
65,154 |
74,517 |
||||||||
Initial allowance for credit losses - PCD Loans |
3 |
2 |
6 |
||||||||
843,623 |
888,885 |
844,008 |
|||||||||
Net loans charge-off (recovered)- BPPR |
|||||||||||
Commercial: |
|||||||||||
Commercial multi-family |
(2 |
) |
— |
(2 |
) |
||||||
Commercial real estate non-owner occupied |
(676 |
) |
(4,102 |
) |
12,614 |
||||||
Commercial real estate owner occupied |
(4,211 |
) |
(2,063 |
) |
(947 |
) |
|||||
Commercial and industrial |
34,085 |
73,406 |
1,467 |
||||||||
Total Commercial |
29,196 |
67,241 |
13,132 |
||||||||
Construction |
(80 |
) |
— |
— |
|||||||
Mortgage |
(3,324 |
) |
(4,922 |
) |
(2,216 |
) |
|||||
Leasing |
1,605 |
1,840 |
2,054 |
||||||||
Consumer: |
|||||||||||
Credit cards |
13,739 |
14,300 |
15,310 |
||||||||
Home equity lines of credit |
(107 |
) |
(44 |
) |
(89 |
) |
|||||
Personal |
17,212 |
16,143 |
15,685 |
||||||||
Auto |
13,067 |
5,808 |
12,036 |
||||||||
Other Consumer |
769 |
1,322 |
627 |
||||||||
Total Consumer |
44,680 |
37,529 |
43,569 |
||||||||
Total net charged-off BPPR |
$ |
72,077 |
$ |
101,688 |
$ |
56,539 |
|||||
Net loans charge-off (recovered) - Popular U.S. |
|||||||||||
Commercial: |
|||||||||||
Commercial multi-family |
— |
1,312 |
(60 |
) |
|||||||
Commercial real estate owner occupied |
626 |
(139 |
) |
(16 |
) |
||||||
Commercial and industrial |
(127 |
) |
87 |
660 |
|||||||
Total Commercial |
499 | 1,260 |
584 |
||||||||
Construction |
— |
— |
— |
||||||||
Mortgage |
(32 |
) |
(31 |
) |
(36 |
) |
|||||
Consumer: |
|||||||||||
Credit cards |
— |
1 |
— |
||||||||
Home equity lines of credit |
(428 |
) |
(106 |
) |
(423 |
) |
|||||
Personal |
804 |
1,233 |
1,109 |
||||||||
Other Consumer |
16 |
8 |
15 |
||||||||
Total Consumer |
392 |
1,136 |
701 |
||||||||
Total net charged-off Popular U.S. |
$ |
859 |
$ |
2,365 |
$ |
1,249 |
|||||
Total loans net charged-off - Popular, Inc. |
$ |
72,936 |
$ |
104,053 |
$ |
57,788 |
|||||
Balance at end of period - loans held-in-portfolio |
$ |
770,687 |
$ |
784,832 |
$ |
786,220 |
|||||
Balance at beginning of period - unfunded commitments |
$ |
14,936 |
$ |
14,547 |
$ |
13,053 |
|||||
Provision for credit losses (benefit) |
(22 |
) |
389 |
770 |
|||||||
Balance at end of period - unfunded commitments [1] |
$ |
14,914 |
$ |
14,936 |
$ |
13,823 |
|||||
POPULAR, INC. |
|||||||||||
Annualized net charge-offs (recoveries) to average loans held-in-portfolio |
0.73 |
% |
1.05 |
% |
0.60 |
% |
|||||
Provision for credit losses (benefit) - loan portfolios to net charge-offs |
80.60 |
% |
62.62 |
% |
128.95 |
% |
|||||
BPPR |
|||||||||||
Annualized net charge-offs (recoveries) to average loans held-in-portfolio |
1.03 |
% |
1.46 |
% |
0.84 |
% |
|||||
Provision for credit losses (benefit) - loan portfolios to net charge-offs |
85.09 |
% |
60.71 |
% |
128.48 |
% |
|||||
Popular U.S. |
|||||||||||
Annualized net charge-offs (recoveries) to average loans held-in-portfolio |
0.03 |
% |
0.08 |
% |
0.04 |
% |
|||||
Provision for credit losses (benefit) - loan portfolios to net charge-offs |
(295.81 |
%) |
144.44 |
% |
150.36 |
% |
|||||
[1] Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition. |
|||||||||||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table O - Allowance for Credit Losses “ACL”- Loan Portfolios - BPPR Operations (Unaudited) |
||||||||
30-Sep-26 |
||||||||
BPPR |
||||||||
(Dollars in thousands) |
Total ACL |
Total loans held-in-portfolio |
ACL to loans held-in-portfolio |
|||||
Commercial: |
||||||||
Commercial multi-family |
$ |
3,420 |
$ |
344,761 |
0.99 |
% |
||
Commercial real estate - non-owner occupied |
38,230 |
3,407,255 |
1.12 |
% |
||||
Commercial real estate - owner occupied |
38,653 |
1,205,279 |
3.21 |
% |
||||
Commercial and industrial |
175,264 |
6,090,151 |
2.88 |
% |
||||
Total commercial |
$ |
255,567 |
$ |
11,047,446 |
2.31 |
% |
||
Construction |
4,193 |
469,687 |
0.89 |
% |
||||
Mortgage |
69,390 |
7,645,377 |
0.91 |
% |
||||
Leasing |
16,870 |
1,952,125 |
0.86 |
% |
||||
Consumer: |
||||||||
Credit cards |
84,992 |
1,260,047 |
6.75 |
% |
||||
Home equity lines of credit |
47 |
1,818 |
2.59 |
% |
||||
Personal |
89,962 |
1,942,250 |
4.63 |
% |
||||
Auto |
152,931 |
3,756,459 |
4.07 |
% |
||||
Other |
7,590 |
169,489 |
4.48 |
% |
||||
Total consumer |
$ |
335,522 |
$ |
7,130,063 |
4.71 |
% |
||
Total |
$ |
681,542 |
$ |
28,244,698 |
2.41 |
% |
||
30-Jun-26 |
||||||||
BPPR |
||||||||
(Dollars in thousands) |
Total ACL |
Total loans held-in-portfolio |
ACL to loans held-in-portfolio |
|||||
Commercial: |
||||||||
Commercial multi-family |
$ |
4,069 |
$ |
345,959 |
1.18 |
% |
||
Commercial real estate - non-owner occupied |
40,179 |
3,321,095 |
1.21 |
% |
||||
Commercial real estate - owner occupied |
35,549 |
1,156,681 |
3.07 |
% |
||||
Commercial and industrial |
166,787 |
6,163,068 |
2.71 |
% |
||||
Total commercial |
$ |
246,584 |
$ |
10,986,803 |
2.24 |
% |
||
Construction |
4,803 |
425,850 |
1.13 |
% |
||||
Mortgage |
70,498 |
7,529,550 |
0.94 |
% |
||||
Leasing |
17,627 |
1,968,035 |
0.90 |
% |
||||
Consumer: |
||||||||
Credit cards |
84,817 |
1,238,010 |
6.85 |
% |
||||
Home equity lines of credit |
52 |
1,852 |
2.81 |
% |
||||
Personal |
96,014 |
1,896,019 |
5.06 |
% |
||||
Auto |
164,543 |
3,766,648 |
4.37 |
% |
||||
Other |
7,349 |
164,069 |
4.48 |
% |
||||
Total consumer |
$ |
352,775 |
$ |
7,066,598 |
4.99 |
% |
||
Total |
$ |
692,287 |
$ |
27,976,836 |
2.47 |
% |
||
Variance |
||||||||||
(Dollars in thousands) |
Total ACL |
Total loans held-in-portfolio |
ACL to loans held-in-portfolio |
|||||||
Commercial: |
||||||||||
Commercial multi-family |
$ |
(649 |
) |
$ |
(1,198 |
) |
(0.18 |
%) |
||
Commercial real estate - non-owner occupied |
(1,949 |
) |
86,160 |
(0.09 |
%) |
|||||
Commercial real estate - owner occupied |
3,104 |
48,598 |
0.13 |
% |
||||||
Commercial and industrial |
8,477 |
(72,917 |
) |
0.17 |
% |
|||||
Total commercial |
$ |
8,983 |
$ |
60,643 |
0.07 |
% |
||||
Construction |
(610 |
) |
43,837 |
(0.24 |
%) |
|||||
Mortgage |
(1,108 |
) |
115,827 |
(0.03 |
)% |
|||||
Leasing |
(757 |
) |
(15,910 |
) |
(0.03 |
)% |
||||
Consumer: |
||||||||||
Credit cards |
175 |
22,037 |
(0.11 |
)% |
||||||
Home equity lines of credit |
(5 |
) |
(34 |
) |
(0.22 |
%) |
||||
Personal |
(6,052 |
) |
46,231 |
(0.43 |
%) |
|||||
Auto |
(11,612 |
) |
(10,189 |
) |
(0.30 |
%) |
||||
Other |
241 |
5,420 |
— |
% |
||||||
Total consumer |
$ |
(17,253 |
) |
$ |
63,465 |
(0.29 |
%) |
|||
Total |
$ |
(10,745 |
) |
$ |
267,862 |
(0.06 |
)% |
|||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table P - Allowance for Credit Losses “ACL”- Loan Portfolios - POPULAR U.S. Operations (Unaudited) |
||||||||
30-Sep-26 |
||||||||
Popular U.S. |
||||||||
(Dollars in thousands) |
Total ACL |
Total loans held-in-portfolio |
ACL to loans held-in-portfolio |
|||||
Commercial: |
||||||||
Commercial multi-family |
$ |
12,391 |
$ |
2,052,220 |
0.60 |
% |
||
Commercial real estate - non-owner occupied |
14,418 |
2,435,485 |
0.59 |
% |
||||
Commercial real estate - owner occupied |
19,180 |
2,206,921 |
0.87 |
% |
||||
Commercial and industrial |
21,415 |
2,618,907 |
0.82 |
% |
||||
Total commercial |
$ |
67,404 |
$ |
9,313,533 |
0.72 |
% |
||
Construction |
7,161 |
1,116,186 |
0.64 |
% |
||||
Mortgage |
8,258 |
1,214,808 |
0.68 |
% |
||||
Consumer: |
||||||||
Credit cards |
— |
6 |
— |
% |
||||
Home equity lines of credit |
1,679 |
86,788 |
1.93 |
% |
||||
Personal |
4,639 |
52,010 |
8.92 |
% |
||||
Other |
4 |
14,627 |
0.03 |
% |
||||
Total consumer |
$ |
6,322 |
$ |
153,431 |
4.12 |
% |
||
Total |
$ |
89,145 |
$ |
11,797,958 |
0.76 |
% |
||
30-Jun-26 |
|||||||||
Popular U.S. |
|||||||||
(Dollars in thousands) |
Total ACL |
Total loans held-in-portfolio |
ACL to loans held-in-portfolio |
||||||
Commercial: |
|||||||||
Commercial multi-family |
$ |
14,850 |
$ |
2,053,465 |
0.72 |
% |
|||
Commercial real estate - non-owner occupied |
15,631 |
2,299,780 |
0.68 |
% |
|||||
Commercial real estate - owner occupied |
17,090 |
2,100,021 |
0.81 |
% |
|||||
Commercial and industrial |
18,609 |
2,611,016 |
0.71 |
% |
|||||
Total commercial |
$ |
66,180 |
$ |
9,064,282 |
0.73 |
% |
|||
Construction |
9,557 |
1,306,225 |
0.73 |
% |
|||||
Mortgage |
9,024 |
1,250,784 |
0.72 |
% |
|||||
Consumer: |
|||||||||
Credit cards |
— |
(13 |
) |
— |
% |
||||
Home equity lines of credit |
1,371 |
83,505 |
1.64 |
% |
|||||
Personal |
6,408 |
56,706 |
11.30 |
% |
|||||
Other |
5 |
11,537 |
0.04 |
% |
|||||
Total consumer |
$ |
7,784 |
$ |
151,735 |
5.13 |
% |
|||
Total |
$ |
92,545 |
$ |
11,773,026 |
0.79 |
% |
|||
Variance |
||||||||||
(Dollars in thousands) |
Total ACL |
Total loans held-in-portfolio |
ACL to loans held-in-portfolio |
|||||||
Commercial: |
||||||||||
Commercial multi-family |
$ |
(2,459 |
) |
$ |
(1,245 |
) |
(0.12 |
%) |
||
Commercial real estate - non-owner occupied |
(1,213 |
) |
135,705 |
(0.09 |
%) |
|||||
Commercial real estate - owner occupied |
2,090 |
106,900 |
0.06 |
% |
||||||
Commercial and industrial |
2,806 |
7,891 |
0.10 |
% |
||||||
Total commercial |
$ |
1,224 |
$ |
249,251 |
(0.01 |
%) |
||||
Construction |
(2,396 |
) |
(190,039 |
) |
(0.09 |
%) |
||||
Mortgage |
(766 |
) |
(35,976 |
) |
(0.04 |
%) |
||||
Consumer: |
||||||||||
Credit cards |
— |
19 |
— |
% |
||||||
Home equity lines of credit |
308 |
3,283 |
0.29 |
% |
||||||
Personal |
(1,769 |
) |
(4,696 |
) |
(2.38 |
%) |
||||
Other |
(1 |
) |
3,090 |
(0.02 |
%) |
|||||
Total consumer |
$ |
(1,462 |
) |
$ |
1,696 |
(1.01 |
)% |
|||
Total |
$ |
(3,400 |
) |
$ |
24,932 |
(0.03 |
%) |
|||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table Q - Allowance for Credit Losses “ACL”- Loan Portfolios - Consolidated (Unaudited) |
||||||||
30-Sep-26 |
||||||||
Pop Inc. |
||||||||
(Dollars in thousands) |
Total ACL |
Total loans held-in-portfolio |
ACL to loans held-in-portfolio |
|||||
Commercial: |
||||||||
Commercial multi-family |
$ |
15,811 |
$ |
2,396,981 |
0.66 |
% |
||
Commercial real estate - non-owner occupied |
52,648 |
5,842,740 |
0.90 |
% |
||||
Commercial real estate - owner occupied |
57,833 |
3,412,200 |
1.69 |
% |
||||
Commercial and industrial |
196,679 |
8,709,058 |
2.26 |
% |
||||
Total commercial |
$ |
322,971 |
$ |
20,360,979 |
1.59 |
% |
||
Construction |
11,354 |
1,585,873 |
0.72 |
% |
||||
Mortgage |
77,648 |
8,860,185 |
0.88 |
% |
||||
Leasing |
16,870 |
1,952,125 |
0.86 |
% |
||||
Consumer: |
||||||||
Credit cards |
84,992 |
1,260,053 |
6.75 |
% |
||||
Home equity lines of credit |
1,726 |
88,606 |
1.95 |
% |
||||
Personal |
94,601 |
1,994,260 |
4.74 |
% |
||||
Auto |
152,931 |
3,756,459 |
4.07 |
% |
||||
Other |
7,594 |
184,116 |
4.12 |
% |
||||
Total consumer |
$ |
341,844 |
$ |
7,283,494 |
4.69 |
% |
||
Total |
$ |
770,687 |
$ |
40,042,656 |
1.92 |
% |
||
30-Jun-26 |
||||||||
Pop Inc. |
||||||||
(Dollars in thousands) |
Total ACL |
Total loans held-in-portfolio |
ACL to loans held-in-portfolio |
|||||
Commercial: |
||||||||
Commercial multi-family |
$ |
18,919 |
$ |
2,399,424 |
0.79 |
% |
||
Commercial real estate - non-owner occupied |
55,810 |
5,620,875 |
0.99 |
% |
||||
Commercial real estate - owner occupied |
52,639 |
3,256,702 |
1.62 |
% |
||||
Commercial and industrial |
185,396 |
8,774,084 |
2.11 |
% |
||||
Total commercial |
$ |
312,764 |
$ |
20,051,085 |
1.56 |
% |
||
Construction |
14,360 |
1,732,075 |
0.83 |
% |
||||
Mortgage |
79,522 |
8,780,334 |
0.91 |
% |
||||
Leasing |
17,627 |
1,968,035 |
0.90 |
% |
||||
Consumer: |
||||||||
Credit cards |
84,817 |
1,237,997 |
6.85 |
% |
||||
Home equity lines of credit |
1,423 |
85,357 |
1.67 |
% |
||||
Personal |
102,422 |
1,952,725 |
5.25 |
% |
||||
Auto |
164,543 |
3,766,648 |
4.37 |
% |
||||
Other |
7,354 |
175,606 |
4.19 |
% |
||||
Total consumer |
$ |
360,559 |
$ |
7,218,333 |
5.00 |
% |
||
Total |
$ |
784,832 |
$ |
39,749,862 |
1.97 |
% |
||
Variance |
||||||||||
(Dollars in thousands) |
Total ACL |
Total loans held-in-portfolio |
ACL to loans held-in-portfolio |
|||||||
Commercial: |
||||||||||
Commercial multi-family |
$ |
(3,108 |
) |
$ |
(2,443 |
) |
(0.13 |
%) |
||
Commercial real estate - non-owner occupied |
(3,162 |
) |
221,865 |
(0.09 |
%) |
|||||
Commercial real estate - owner occupied |
5,194 |
155,498 |
0.08 |
% |
||||||
Commercial and industrial |
11,283 |
(65,026 |
) |
0.15 |
% |
|||||
Total commercial |
$ |
10,207 |
$ |
309,894 |
0.03 |
% |
||||
Construction |
(3,006 |
) |
(146,202 |
) |
(0.11 |
%) |
||||
Mortgage |
(1,874 |
) |
79,851 |
(0.03 |
)% |
|||||
Leasing |
(757 |
) |
(15,910 |
) |
(0.03 |
)% |
||||
Consumer: |
||||||||||
Credit cards |
175 |
22,056 |
(0.11 |
)% |
||||||
Home equity lines of credit |
303 |
3,249 |
0.28 |
% |
||||||
Personal |
(7,821 |
) |
41,535 |
(0.50 |
%) |
|||||
Auto |
(11,612 |
) |
(10,189 |
) |
(0.30 |
%) |
||||
Other |
240 |
8,510 |
(0.06 |
%) |
||||||
Total consumer |
$ |
(18,715 |
) |
$ |
65,161 |
(0.30 |
%) |
|||
Total |
$ |
(14,145 |
) |
$ |
292,794 |
(0.05 |
)% |
|||
Popular, Inc. Financial Supplement to Third Quarter 2026 Earnings Release Table R - Reconciliation to GAAP Financial Measures (Unaudited) |
|||||||||
Quarters ended |
|||||||||
(In thousands, except share or per share information) |
30-Sep-26 |
30-Jun-26 |
30-Sep-25 |
||||||
Total stockholders’ equity |
$ |
6,238,844 |
$ |
6,433,005 |
$ |
6,115,672 |
|||
Less: Preferred stock |
(22,143 |
) |
(22,143 |
) |
(22,143 |
) |
|||
Less: Goodwill |
(789,954 |
) |
(789,954 |
) |
(789,954 |
) |
|||
Less: Other intangibles |
(3,924 |
) |
(4,308 |
) |
(5,460 |
) |
|||
Total tangible common equity |
$ |
5,422,823 |
$ |
5,616,600 |
$ |
5,298,115 |
|||
Total assets |
$ |
77,758,872 |
$ |
78,972,300 |
$ |
75,065,798 |
|||
Less: Goodwill |
(789,954 |
) |
(789,954 |
) |
(789,954 |
) |
|||
Less: Other intangibles |
(3,924 |
) |
(4,308 |
) |
(5,460 |
) |
|||
Total tangible assets |
$ |
76,964,994 |
$ |
78,178,038 |
$ |
74,270,384 |
|||
Tangible common equity to tangible assets |
7.05 |
% |
7.18 |
% |
7.13 |
% |
|||
Common shares outstanding at end of period |
62,834,136 |
63,866,681 |
66,959,866 |
||||||
Tangible book value per common share |
$ |
86.30 |
$ |
87.94 |
$ |
79.12 |
|||
Quarterly average |
||||||||||
30-Sep-26 |
30-Jun-26 |
30-Sep-25 |
||||||||
Total stockholders’ equity |
$ |
6,439,803 |
$ |
6,354,694 |
$ |
6,882,514 |
[1] |
|||
Less: Preferred Stock |
(22,143 |
) |
(22,143 |
) |
(22,143 |
) |
||||
Less: Goodwill |
(789,954 |
) |
(789,954 |
) |
(802,812 |
) |
||||
Less: Other intangibles |
(4,177 |
) |
(4,559 |
) |
(5,714 |
) |
||||
Total tangible common equity before adjusting for the impact of unrealized (gains) losses on AFS securities including those transferred to HTM |
$ |
5,623,529 |
$ |
5,538,038 |
$ |
6,051,845 |
||||
Return on average tangible common equity before adjusting for the impact of unrealized (gains) losses on AFS securities including those transferred to HTM |
18.76 |
% |
20.12 |
% |
13.83 |
% |
||||
Add: Average unrealized (gains) losses on AFS securities |
903,931 |
824,631 |
61,027 |
|||||||
Add: Average unrealized (gains) losses on AFS securities transferred to HTM |
150,274 |
184,136 |
296,934 |
|||||||
Total tangible common equity after adding back of impact of unrealized (gains) losses on AFS securities, including those transferred to HTM |
$ |
6,677,734 |
$ |
6,546,805 |
$ |
6,409,806 |
||||
ROTCE |
15.80 |
% |
17.02 |
% |
13.06 |
% |
||||
[1] Average balances exclude certain unrealized gains or losses on debt securities available-for-sale. |
||||||||||