Popular, Inc. Announces Second Quarter 2024 Financial Results

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Popular, Inc.’s second quarter results show significant improvement in net income, rising to $177.8 million from $103.3 million in the first quarter. This increase, partly attributable to higher net interest income and lower provision for credit losses, is indicative of effective management strategies. The net interest margin also improved, slightly edging up from 3.16% to 3.22% (taxable equivalent basis: 3.48% from 3.38%), which means the bank is making more money on its interest-bearing assets relative to its interest-paying liabilities.

Operating expenses showed a favorable decline, dropping by $13.5 million. However, when adjusted for one-time expenses in Q1, there was a slight increase, reflecting higher consulting fees and other expenses. This suggests that while cost management is effective, the bank is also investing in strategic initiatives.

From an investment perspective, these results signal strong near-term profitability and a positive outlook, reinforced by capital actions like a dividend increase and a $500 million stock repurchase authorization. These moves typically indicate management’s confidence in continued financial health.

The increase in net interest income by $17.6 million and non-interest income by $2.5 million are key indicators that Popular, Inc. is benefiting from a favorable interest rate environment and effective fee generation strategies. The higher earnings, despite a slight increase in adjusted operating expenses, indicate that the company is managing to grow its revenue streams effectively.

The bank's strong credit quality metrics, with NPLs decreasing by $12.3 million and a reduction in net charge-offs, are critical. This stability in credit quality is particularly important for investors, as it reduces the risk of future significant losses from bad loans. The improved ACL ratios also suggest strong risk management practices.

Increased loan and deposit balances indicate strong customer trust and activity, which are essential for sustaining long-term growth. These positive operational metrics support the bank’s robust financial performance and enhance investor confidence.

The mention of investments in talent and technology to enhance customer relationships and maximize opportunities indicates that Popular, Inc. is committed to modernizing its operations. This strategic focus on technological advancement can position the bank better against competitors by improving operational efficiency and customer experience.

Investments in technology, including cybersecurity and advisory services, are increasingly vital in the banking sector. These investments can help mitigate operational risks associated with digital transactions and enhance customer trust. Such initiatives can pave the way for long-term growth by attracting tech-savvy customers and optimizing internal processes.

This proactive approach towards adopting new technologies is a positive sign for investors, as it may lead to more sustainable growth and higher returns over the long term.

07/24/2024 - 07:00 AM

Net income of $177.8 million in Q2 2024, compared to net income of $103.3 million in Q1 2024.
Excluding the impact of certain transactions from the results of operations for the first quarter of 2024 (FDIC Special Assessment and prior period tax withholdings), net income in Q2 2024 increased by $42.6 million when compared to adjusted net income of $135.2 million in Q1 2024.
Net interest income amounted to $568.3 million, an increase of $17.6 million compared to Q1 2024.
Net interest margin of 3.22% in Q2 2024, compared to 3.16% in Q1 2024; net interest margin on a taxable equivalent basis of 3.48% in Q2 2024, compared to 3.38% in Q1 2024.
Non-interest income of $166.3 million, compared to $163.8 million in Q1 2024.
Operating expenses amounted to $469.6 million, down by $13.5 million compared to Q1 2024. Excluding the impact of the transactions mentioned above from the first quarter of 2024, operating expenses increased by $7.2 million or 1.5%.
Credit quality remains stable with improved credit metrics:
- Non-performing loans held-in-portfolio (“NPLs”) decreased by $12.3 million from Q1 2024; NPLs to loans ratio remained flat at 1.0%;
- Net charge-offs (“NCOs”) decreased by $8.6 million from Q1 2024; annualized NCOs at 0.61% of average loans held-in-portfolio vs. 0.71% in Q1 2024;
- Allowance for credit losses (“ACL”) to loans held-in-portfolio at 2.05% vs. 2.11% in Q1 2024; and
- ACL to NPLs at 213.6% vs. 208.8% in Q1 2024.
Loans ending balances, excluding loans held-for-sale, amounted to $35.6 billion, an increase of $472.9 million from Q1 2024.
- Average quarterly loan balances increased by $332.2 million.
Ending deposit balances amounted to $65.5 billion, an increase of $1.7 billion from Q1 2024.
- Average quarterly deposit balances increased by $993.5 million.
Common Equity Tier 1 ratio of 16.48%, Common Equity per share of $73.94 and Tangible Book Value per share of $62.71 at June 30, 2024.

SAN JUAN, Puerto Rico--(BUSINESS WIRE)-- Popular, Inc. (the “Corporation,” “Popular,” “we,” “us,” “our”) (NASDAQ:BPOP) reported net income of $177.8 million for the quarter ended June 30, 2024, compared to net income of $103.3 million for the quarter ended March 31, 2024. Net income in the first quarter of 2024 included a $9.1 million after tax expenses arising from the impact of the FDIC special assessment (the “FDIC Special Assessment”) and a $22.9 million tax expense related to prior period intercompany distributions from the Corporation’s U.S. subsidiaries. Excluding the impact of these items from the results of the first quarter of 2024, net income increased by $42.6 million during the quarter ended June 30, 2024.

Ignacio Alvarez, President and Chief Executive Officer, said: “We are very pleased with our financial performance for the quarter. Our strong earnings were driven by higher net interest income and lower provision for credit losses. We also expanded our net interest margin by six basis points. Credit quality trends remained positive, with lower net charge-offs as well as lower levels and inflows of non-performing loans.

Our solid capital position allows us to continue to serve the needs of our customers, while prudently increasing our dividend and returning capital to our shareholders. Reflecting this strength, we announced a 13% increase in our quarterly common stock dividend and a $500 million common stock repurchase authorization.

We continue to successfully execute on our Transformation to better serve our customers and drive returns over time. This includes investing in talent and technology to deepen our relationships with customers and maximize the opportunities inherent in our franchise. I am proud of the enthusiasm and commitment demonstrated by our colleagues and optimistic about the future.”

Significant Events

Capital actions

On July 24, 2024, the Corporation announced the following capital actions:

common stock repurchases of up to $500 million; and
an increase in the Corporation’s quarterly common stock dividend from $0.62 to $0.70 per share, commencing with the dividend payable in the first quarter of 2025, subject to the approval by the Corporation’s Board of Directors.

The Corporation’s planned common stock repurchases may be executed in open market transactions, privately negotiated transactions, block trades or any other manner determined by the Corporation. The timing, quantity and price of such repurchases will be subject to various factors, including market conditions, the Corporation’s capital position and financial performance, the capital impact of strategic initiatives and regulatory and tax considerations. The common stock repurchase program does not require the Corporation to acquire a specific dollar amount or number of shares and may be modified, suspended or terminated at any time without prior notice.

Earnings Highlights
(Unaudited)	Quarters ended			Six months ended
(Dollars in thousands, except per share information)	30-Jun-24	31-Mar-24	30-Jun-23	30-Jun-24	30-Jun-23
Net interest income	$568,312	$550,744	$531,668	$1,119,056	$1,063,324
Provision for credit losses	46,794	72,598	37,192	119,392	84,829
Net interest income after provision for credit losses	521,518	478,146	494,476	999,664	978,495
Other non-interest income	166,306	163,818	160,471	330,124	322,432
Operating expenses	469,576	483,113	460,284	952,689	900,971
Income before income tax	218,248	158,851	194,663	377,099	399,956
Income tax expense	40,459	55,568	43,503	96,027	89,817
Net income	$177,789	$103,283	$151,160	$281,072	$310,139
Net income applicable to common stock	$177,436	$102,930	$150,807	$280,366	$309,433
Net income per common share-basic	$2.47	$1.43	$2.10	$3.90	$4.32
Net income per common share-diluted	$2.46	$1.43	$2.10	$3.90	$4.32

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 has determined that these measures provide more meaningful information about the underlying performance of the Corporation’s 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.

Adjusted net income

In addition to analyzing the Corporation’s results on a reported basis, management monitors the “adjusted net income” of the Corporation and excludes the impact of certain transactions on the results of its operations. Management believes that the “adjusted net income” provides meaningful information about the underlying performance of the Corporation’s ongoing operations. The “adjusted net income” is a non-GAAP financial measure.

Net interest income on a taxable equivalent basis

Net interest income, on a taxable equivalent basis, is presented with its different components in Tables D, E and F. Net interest income on a taxable equivalent basis is a non-GAAP financial measure. Management believes that this presentation provides meaningful information since it facilitates the comparison of revenues arising from taxable and tax-exempt sources.

Tangible Common Equity

The tangible common equity, tangible common equity ratio, tangible assets and tangible book value per common share are non-GAAP financial measures. Tangible common equity ratio and tangible book value per common share in conjunction with more traditional bank capital ratios are commonly used by banks and analysts 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. 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.

The following table presents the reconciliation of the net income to the adjusted net income (non-GAAP) for the quarter ended March 31, 2024. There were no adjustments to net income for the quarter ended June 30, 2024.

Adjusted Net Income for the Quarter Ended March 31, 2024 (non-GAAP)

(Unaudited)
(In thousands)	Income before income tax	Income tax expense (benefit)		Total
U.S. GAAP Net income	$158,851	$55,568		$103,283
Non-GAAP Adjustments:
FDIC Special Assessment [1]	14,287	(5,234	)	9,053
Adjustments related to tax withholdings on prior period distributions from U.S. subsidiaries [2]	6,400	16,483		22,883
Adjusted net income (non-GAAP)	$179,538	$44,319		$135,219
[1] Expense related to the November 16, 2023 FDIC Special Assessment to recover the losses to the deposit insurance fund used by the FDIC in connection with the receiverships of several failed banks. The special assessment amount and collection period may change as the estimated loss is periodically adjusted or if the total amount collected varies. [2] Income tax expense and other related expenses from prior periods related to withholding taxes on certain distributions from U.S. subsidiaries.

Net interest income and net interest income on a taxable equivalent basis non-GAAP

Net interest income for the quarter ended June 30, 2024, was $568.3 million, an increase of $17.6 million when compared to $550.7 million for the previous quarter. Net interest margin for the second quarter of 2024 was 3.22% compared to 3.16% in the prior quarter or an increase of six basis points.

Net interest income on a taxable equivalent basis for the second quarter of 2024 was $614.8 million, compared to $589.6 million in the previous quarter, an increase of $25.2 million. Net interest margin on a taxable equivalent basis for the second quarter of 2024 was 3.48%, compared to 3.38% in the first quarter of 2024, or a 10 basis points increase.

The main variances in net interest income and net interest margin on a taxable equivalent basis were:

interest income from investment securities increased by $25.8 million due to the reinvestment of maturities in higher yielding U.S. Treasury bills, resulting in $28.2 million of additional interest income for the period which was offset in part by lower interest income from mortgage backed securities by $2.1 million due to lower volume and yields in the portfolio; and
higher interest income from loans by $9.7 million due to higher average loan balances and higher yields in all portfolios;

partially offset by:

higher interest expense on deposits by $10.4 million, due to higher average volume and higher cost of interest-bearing deposits by $901 million and three basis points, respectively. In Puerto Rico, the cost of government interest-bearing demand deposits, decreased eight basis point quarter over quarter, while average balances increased by $647 million. This positive variance was in part offset by an increase in the total cost of time deposits of 28 basis points including the cost of time deposits of the P.R. government. Total cost of deposits for the second quarter was 2.10% or a three basis points increase from the previous quarter.

Net Interest Income and Net Interest Margin (Banco Popular de Puerto Rico Segment)

Net interest income for the Banco Popular de Puerto Rico (“BPPR”) segment amounted to $488.7 million for the second quarter of 2024, an increase of $15.9 million when compared to $472.8 million in the previous quarter. Net interest margin in the BPPR segment increased from the first quarter of 2024 by seven basis points to 3.40%. The most significant variances quarter over quarter in net interest income and net interest margin for BPPR were:

higher interest income from investment securities which increased in total by $17.7 million due to a 27 basis points increase in the yield from U.S. Treasury securities offset in part by lower interest income on mortgage back securities of $1.6 million due to lower volume and yields; and
higher interest income on loans by $9.1 million. This uplift in interest income was associated with an increase of $4.2 million in interest income from the commercial loans portfolio, which average balances and yields increased by $165 million and five basis points, respectively. The remaining increase in interest income of $4.9 million is due to the net growth across all other BPPR loan portfolios.

Partially offset by:

higher interest expense from deposits by $7.4 million. The cost of time deposits increased by $4.8 million resulting from higher cost by 32 basis points driven by the repricing and higher average balances of certain time deposit accounts of the P.R. government for which BPPR’s fiduciary division acts as escrow agent. Interest expense on interest-bearing demand deposits accounts increased by $2.8 million, mainly driven by an increase in average balances, partially offset by a decrease in cost of five basis points. Total deposit cost for the BPPR segment in the second quarter of 2024 was 1.83%, compared to 1.81% in the previous quarter, an increase of two basis points; and
lower interest income in money market investments by $3.5 million due to lower volume that corresponds to the deployment of liquidity for loan origination activity and investment in treasury bills as described above.

Net Interest Income and Net Interest Margin (Popular Bank Segment)

Net interest income and net interest margin for the Popular Bank (“PB”, or “Popular U.S.”) segment increased to $85.9 million and 2.60%, respectively, for the quarter ended June 30, 2024, compared to $84.9 million and 2.59%, respectively, during the quarter ended March 31, 2024. Interest income from money market investments increased by $2.6 million during the quarter mainly due to higher volume resulting from an increase in deposits. Total cost of funds in PB increased by $2.7 million due to higher average balance in time deposits of $443.8 million which drove the cost up by $4.7 million but that were partially offset by lower interest expense on interest-bearing demand deposits by $1.6 million. Total cost of deposits for the quarter was 3.43%, a three basis points increase from the previous quarter.

Non-interest income

Non-interest income amounted to $166.3 million for the quarter ended June 30, 2024, an increase of $2.5 million when compared to $163.8 million for the quarter ended March 31, 2024. The variance in non-interest income was driven primarily by higher other service fees by $2.6 million due mainly to higher credit and debit card fees as a result of higher volume of customer transactions.

Refer to Table B for further details.

Operating expenses

Operating expenses for the second quarter of 2024 totaled $469.6 million, a decrease of $13.5 million when compared to the first quarter of 2024. Excluding the $6.4 million of interest accrued related to prior period tax withholdings and the $14.3 million impact of the FDIC Special Assessment, total expenses for the first quarter of 2024 were $462.4 million. The second quarter’s expenses increased by $7.2 million when compared to this adjusted expense. The main drivers of the $7.2 million variance were:

higher professional fees by $8.8 million mainly due to higher consulting and assurance professional services expenses by $6.8 million related to corporate initiatives focused on regulatory, cyber security and other advisory efforts;
higher operational losses by $8.3 million due to build up on reserves for operational losses;
higher processing and transactional services expenses by $4.9 million mainly due to higher retail customers’ debit card issuance costs by $1.8 million, higher merchant processing expenses by $1.3 million and higher credit card processing fees by $1.6 million; and
higher business promotion expenses by $4.5 million mainly due to higher customer reward program expenses in our credit card business by $2.4 million and higher advertising and strategic communications expense and donations granted during the quarter by $1.7 million.

partially offset by:

lower personnel cost by $18.0 million mainly due to a decrease in performance shares and restricted stock expenses by $8.2 million, lower other compensation expenses by $8.5 million due to lower payroll taxes and vacations accrual that are typically higher in the first quarter of the year;

Full-time equivalent employees were 9,241 as of June 30, 2024, compared to 9,132 as of March 31, 2024.

For a breakdown of operating expenses by category refer to Table B.

Income taxes

For the quarter ended June 30, 2024, the Corporation recorded an income tax expense of $40.5 million, compared to an income tax expense of $55.6 million for the previous quarter. Excluding the $11.2 million net impact related to a tax withholding on intercompany distributions from prior periods and the tax effect of the FDIC Special Assessment that was recognized during the first quarter of 2024, income tax expense for the quarter ended March 31, 2024, would have been $44.3 million.

The effective tax rate (“ETR”) for the second quarter of 2024 was 18.5%, compared to 35.0% for the previous quarter. Excluding the impact of the tax withholding and the additional expense related to the FDIC Special Assessment during the first quarter of 2024, the ETR would have been 24.7%.

The ETR of the Corporation is impacted by the composition and source of its taxable income. The Corporation expects its ETR for the year 2024 to be within a range from 21% to 23%.

Credit Quality

Credit quality metrics in the second quarter of 2024 improved when compared to the previous quarter. We continue to closely monitor changes in the macroeconomic environment and on borrower performance given higher interest rates and inflationary pressures. However, management believes that the improvements over recent years in risk management practices and the risk profile of the Corporation’s loan portfolios position Popular to continue to operate successfully under the current environment.

The following presents credit quality results for the second quarter of 2024:

Non-Performing Loans (“NPLs”) and Net Charge Offs (“NCOs”)

Total NPLs as of June 30, 2024, decreased by $12.3 million from March 31, 2024. Inflows of NPLs, excluding consumer loans, decreased by $1.7 million quarter-over-quarter. At June 30, 2024, the ratio of NPLs to total loans held-in-portfolio was 1.0%, flat when compared to the first quarter of 2024. The drivers of these changes are mainly related to the following:

In the BPPR segment, NPLs decreased by $11.7 million across most loan categories, but mainly in the commercial loans portfolio with a $7.2 million decrease. Inflows to NPLs, excluding consumer loans, increased by $7.5 million driven by higher inflows in the mortgage loans portfolio.
In PB, NPLs remained flat driven by the return to accrual of a $17.2 million mortgage loan, offset by a $17.3 million commercial NPL inflow. PB inflows to NPLs, excluding consumer loans, decreased by $9.2 million, driven by the inflow in the prior quarter of the previously mentioned $17.2 million mortgage relationship, offset in part by higher commercial inflows this quarter by $7.2 million.

NCOs amounted to $53.6 million, decreasing by $8.6 million when compared to the first quarter of 2024. The Corporation’s ratio of annualized NCOs to average loans held-in-portfolio was 0.61%, compared to 0.71% in the first quarter of 2024. The drivers of these changes are mainly related to the following:

In the BPPR segment, NCOs decreased by $7.3 million quarter-over-quarter, mainly driven by lower consumer and commercial NCOs by $4.8 million and $2.2 million, respectively. Lower NCOs in the consumer portfolio were mostly related to lower auto and personal loans by $3.6 million and $1.0 million, respectively.
PB’s NCOs decreased by $1.3 million quarter-over-quarter, mostly related to lower consumer NCOs.

Refer to Table N for further information on NCOs and related ratios.

Other Real Estate Owned Properties (“OREO”)

As of June 30, 2024, the Corporation’s OREO portfolio amounted to $70.2 million, a decrease of $10.3 million, compared to the first quarter of 2024. The decrease in OREO was driven by the sale of a commercial property in BPPR.

Refer to Table L for additional information and related ratios.

Allowance for Credit Losses (“ACL”) and Provision for Credit Losses (“PCL”)

The ACL as of June 30, 2024 amounted to $730.1 million, a decrease of $9.5 million, compared to the first quarter of 2024. In BPPR, the ACL remained flat as changes in macroeconomic scenarios and lower NCOs were offset by higher commercial loan volume, higher qualitative reserves and changes in credit quality. In PB, the ACL decreased by $8.7 million from the previous quarter, mainly driven by lower reserves for the commercial portfolio. The Corporation’s ratio of the ACL to loans held-in-portfolio was 2.05% in the second quarter of 2024, compared to 2.11% in the previous quarter. The ratio of the ACL to NPLs held-in-portfolio stood at 213.6%, compared to 208.8% in the previous quarter.

The ACL incorporates management’s estimate of current macroeconomic scenarios for Puerto Rico and the United States. Given that any one economic outlook is inherently uncertain, the Corporation leverages multiple scenarios to estimate its ACL. Based on the information available and the scenarios analyzed by management, the “baseline” scenario continues as the highest probability weight scenario, followed by the “pessimistic” scenario, and then the “optimistic” scenario consistent with the weights assigned in the previous quarter.

The provision for credit losses for the loan and lease portfolios for the second quarter of 2024 was $44.2 million, compared to $72.4 million in the previous quarter. The provision for the BPPR segment was $48.6 million, compared to $61.0 million in the previous quarter, while the PB segment had a release of $4.4 million, compared to a provision of $11.4 million in the previous quarter driven by improvements in credit quality and the pay-off of a significant relationship.

The provision for credit losses on our loan and lease portfolios, as well as the provision for credit losses related to unfunded loan commitments of $2.1 million and our investment portfolio of $0.5 million for the second quarter of 2024 are aggregated and presented in the provision for credit losses caption in our Consolidated Statement of Operations. For the second quarter, the provision for credit losses was $46.8 million, compared to $72.6 million in the previous quarter.

Non-Performing Assets
(Unaudited)
(In thousands)	30-Jun-24		31-Mar-24		30-Jun-23
Non-performing loans held-in-portfolio	$341,835		$354,127		$385,504
Other real estate owned	70,225		80,542		86,216
Total non-performing assets	$412,060		$434,669		$471,720
Net charge-offs for the quarter	$53,630		$62,200		$23,990


Ratios:
Loans held-in-portfolio	$35,591,620		$35,118,738		$33,030,922
Non-performing loans held-in-portfolio to loans held-in-portfolio	0.96	%	1.01	%	1.17	%
Allowance for credit losses to loans held-in-portfolio	2.05		2.11		2.12
Allowance for credit losses to non-performing loans, excluding loans held-for-sale	213.58		208.84		181.63
Refer to Table L for additional information.

Provision for Credit Losses (Benefit) - Loan Portfolios

(Unaudited)	Quarters ended				Six months ended
(In thousands)	30-Jun-24		31-Mar-24	30-Jun-23	30-Jun-24	30-Jun-23
Provision for credit losses (benefit) - loan portfolios:
BPPR	$48,585		$61,008	$28,379	$109,593	$73,582
Popular U.S.	(4,428	)	11,378	7,282	6,950	9,225
Total provision for credit losses (benefit) - loan portfolios	$44,157		$72,386	$35,661	$116,543	$82,807

Credit Quality by Segment
(Unaudited)
(In thousands)	Quarters ended
BPPR		30-Jun-24		31-Mar-24		30-Jun-23
Provision for credit losses - loan portfolios		$48,585		$61,008		$28,379
Net charge-offs		49,308		56,561		18,687
Total non-performing loans held-in-portfolio		286,887		298,594		352,339
Annualized net charge-offs to average loans held-in-portfolio		0.79	%	0.92	%	0.33	%
Allowance / loans held-in-portfolio		2.56	%	2.62	%	2.58	%
Allowance / non-performing loans held-in-portfolio		224.34	%	215.79	%	169.19	%

	Quarters ended
Popular U.S.		30-Jun-24		31-Mar-24		30-Jun-23
Provision for credit losses (benefit) - loan portfolios		$(4,428	)	$11,378		$7,282
Net charge-offs		4,322		5,639		5,303
Total non-performing loans held-in-portfolio		54,948		55,533		33,165
Annualized net charge-offs to average loans held-in-portfolio		0.16	%	0.21	%	0.22	%
Allowance / loans held-in-portfolio		0.83	%	0.91	%	1.05	%
Allowance / non-performing loans held-in-portfolio		157.37	%	171.47	%	313.86	%

Financial Condition Highlights

(Unaudited)
(In thousands)	30-Jun-24	31-Mar-24	30-Jun-23
Cash and money market investments	$7,211,367	$6,249,064	$9,070,118
Investment securities	26,742,639	26,324,139	25,874,316
Loans	35,591,620	35,118,738	33,030,922
Total assets	72,845,072	70,936,939	70,838,266
Deposits	65,530,862	63,808,784	64,004,818
Borrowings	1,047,264	1,032,393	1,427,254
Total liabilities	67,472,394	65,759,625	66,273,257
Stockholders’ equity	5,372,678	5,177,314	4,565,009

Total assets amounted to $72.8 billion at June 30, 2024, an increase of $1.9 billion from the first quarter of 2024, driven by:

an increase in cash and money market investments of $962.3 million, mainly due to higher deposits, driven by Puerto Rico public funds, partially offset by higher loan originations and investments in securities available-for-sale (“AFS”);
an increase in securities AFS of $525.4 million, mainly due to purchases of U.S. Treasury bills partially offset by repayments and maturities; and
an increase in loans held-in-portfolio of $472.9 million, driven by an increase of $508.6 million at BPPR, reflected across nearly all portfolios, partially offset by a decrease of $35.7 million at PB;

partially offset by:

a decrease in securities held-to-maturity (“HTM”) of $107.6 million driven by maturities, partially offset by the accretion of $44.4 million of the discount related to U.S. Treasury securities previously reclassified from the AFS to HTM.

Total liabilities increased by $1.7 billion from the first quarter of 2024, driven by:

an increase of $1.7 billion in deposits, mainly in the P.R. public sector, as increases in time deposit balances at Popular Bank were offset by outflows of demand deposits at BPPR.

Stockholders' equity increased by $195.4 million from the first quarter of 2024 mainly due to the change in retained earnings resulting from the quarter’s net income of $177.8 million, coupled with the change in the accumulated other comprehensive loss driven by the amortization of unrealized losses from securities previously reclassified to HTM of $35.5 million, net of taxes, and the decrease in net unrealized losses in the portfolio of AFS securities of $16.9 million, partially offset by common and preferred dividends declared during the quarter of $45.3 million.

Common Equity Tier 1 ratio (“CET1”), common equity per share and tangible book value per share were 16.48%, $73.94 and $62.71, respectively, at June 30, 2024, compared to 16.36%, $71.32 and $60.06, respectively, at March 31, 2024. Refer to Table A for capital ratios.

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 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, new regulatory requirements or accounting standards on the Corporation’s financial condition and results of operations, the occurrence of unforeseen or catastrophic events, including 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, imposition of additional or special FDIC assessments, changes to regulatory capital, liquidity and resolution-related requirements applicable to financial institutions in response to recent developments affecting the banking sector and 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. 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, 2023, our Form 10-Q for the quarter ended March 31, 2024, and the Form 10-Q for the quarter ended June 30, 2024, 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. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage 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, Wednesday, July 24, 2024 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.

Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary audio software. The call may also be accessed through a dial-in telephone number 1-833-470-1428 (Toll Free) or 1-404-975-4839 (Local). The dial-in access code is 838904.

A replay of the webcast will be archived in Popular’s website. A telephone replay will be available one hour after the end of the conference call through Friday, August 23, 2024. The replay dial in is: 1-866-813-9403 or 1-929-458-6194. The replay passcode is 748297.

An electronic version of this press release can be found at the Corporation’s website: www.popular.com.

Popular, Inc.

Financial Supplement to Second Quarter 2024 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 - 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 - Consolidated

Table P - Allowance for Credit Losses ''ACL'' - Loan Portfolios - BPPR Operations

Table Q - Allowance for Credit Losses ''ACL'' - Loan Portfolios - Popular U.S. Operations

Table R - Reconciliation to GAAP Financial Measures

POPULAR, INC.
Financial Supplement to Second Quarter 2024 Earnings Release
Table A - Selected Ratios and Other Information
(Unaudited)

	Quarters ended						Six months ended
	30-Jun-24		31-Mar-24		30-Jun-23		30-Jun-24		30-Jun-23
Basic EPS	$2.47		$1.43		$2.10		$3.90		$4.32
Diluted EPS	$2.46		$1.43		$2.10		$3.90		$4.32
Average common shares outstanding	71,970,773		71,869,735		71,690,396		71,920,254		71,616,498
Average common shares outstanding - assuming dilution	71,991,911		71,966,803		71,709,203		71,937,434		71,664,303
Common shares outstanding at end of period	72,365,926		72,284,875		72,103,969		72,365,926		72,103,969
Market value per common share	$88.43		$88.09		$60.52		$88.43		$60.52
Market capitalization - (In millions)	$6,399		$6,368		$4,364		$6,399		$4,364
Return on average assets	0.97	%	0.57	%	0.85	%	0.77	%	0.89	%
Return on average common equity	10.38	%	6.07	%	9.26	%	8.24	%	9.63	%
Net interest margin (non-taxable equivalent basis)	3.22	%	3.16	%	3.14	%	3.20	%	3.18	%
Net interest margin (taxable equivalent basis) -non-GAAP	3.48	%	3.38	%	3.29	%	3.44	%	3.37	%
Common equity per share	$73.94		$71.32		$63.00		$73.94		$63.00
Tangible common book value per common share (non-GAAP) [1]	$62.71		$60.06		$51.37		$62.71		$51.37
Tangible common equity to tangible assets (non-GAAP) [1]	6.30	%	6.19	%	5.29	%	6.30	%	5.29	%
Return on average tangible common equity [1]	11.77	%	6.90	%	10.63	%	9.35	%	11.06	%
Tier 1 capital	16.54	%	16.42	%	16.93	%	16.54	%	16.93	%
Total capital	18.30	%	18.19	%	18.74	%	18.30	%	18.74	%
Tier 1 leverage	8.53	%	8.45	%	8.40	%	8.53	%	8.40	%
Common Equity Tier 1 capital	16.48	%	16.36	%	16.87	%	16.48	%	16.87	%
[1] Refer to Table R for reconciliation to GAAP financial measures.

POPULAR, INC.
Financial Supplement to Second Quarter 2024 Earnings Release
Table B - Consolidated Statement of Operations
(Unaudited)
		Quarters ended				Variance		Quarter ended		Variance		Six months ended
						Q2 2024				Q2 2024
(In thousands, except per share information)		30-Jun-24		31-Mar-24		vs. Q1 2024		30-Jun-23		vs. Q2 2023		30-Jun-24		30-Jun-23
Interest income:
	Loans	$648,739		$638,730		$10,009		$570,120		$78,619		$1,287,469		$1,111,330
	Money market investments	88,316		88,516		(200	)	100,775		(12,459	)	176,832		166,499
	Investment securities	184,852		166,895		17,957		123,112		61,740		351,747		255,200
	Total interest income	921,907		894,141		27,766		794,007		127,900		1,816,048		1,533,029
Interest expense:
	Deposits	339,939		329,496		10,443		243,488		96,451		669,435		436,703
	Short-term borrowings	1,126		1,192		(66	)	1,624		(498	)	2,318		4,509
	Long-term debt	12,530		12,709		(179	)	17,227		(4,697	)	25,239		28,493
	Total interest expense	353,595		343,397		10,198		262,339		91,256		696,992		469,705
Net interest income		568,312		550,744		17,568		531,668		36,644		1,119,056		1,063,324
Provision for credit losses		46,794		72,598		(25,804	)	37,192		9,602		119,392		84,829
Net interest income after provision for credit losses		521,518		478,146		43,372		494,476		27,042		999,664		978,495
Service charges on deposit accounts		37,526		37,442		84		37,781		(255	)	74,968		72,459
Other service fees		96,863		94,272		2,591		94,265		2,598		191,135		184,341
Mortgage banking activities		5,723		4,360		1,363		2,316		3,407		10,083		9,716
Net gain, including impairment, on equity securities		319		1,103		(784	)	1,384		(1,065	)	1,422		2,484
Net gain on trading account debt securities		277		361		(84	)	35		242		638		413
Adjustments to indemnity reserves on loans sold		212		(237	)	449		(456	)	668		(25	)	156
Other operating income		25,386		26,517		(1,131	)	25,146		240		51,903		52,863
	Total non-interest income	166,306		163,818		2,488		160,471		5,835		330,124		322,432
Operating expenses:
Personnel costs
	Salaries	128,634		129,384		(750	)	124,901		3,733		258,018		250,294
	Commissions, incentives and other bonuses	30,626		38,611		(7,985	)	27,193		3,433		69,237		58,355
	Pension, postretirement and medical insurance	16,619		17,385		(766	)	17,508		(889	)	34,004		32,886
	Other personnel costs, including payroll taxes	21,545		29,997		(8,452	)	21,866		(321	)	51,542		48,693
	Total personnel costs	197,424		215,377		(17,953	)	191,468		5,956		412,801		390,228
Net occupancy expenses		27,692		28,041		(349	)	27,165		527		55,733		53,204
Equipment expenses		9,662		9,567		95		9,561		101		19,229		17,973
Other taxes		15,333		14,375		958		16,409		(1,076	)	29,708		32,700
Professional fees		37,744		28,918		8,826		50,132		(12,388	)	66,662		83,563
Technology and software expenses		79,752		79,462		290		72,354		7,398		159,214		140,913
Processing and transactional services
	Credit and debit cards	13,739		12,144		1,595		11,584		2,155		25,883		24,134
	Other processing and transactional services	25,357		22,050		3,307		25,217		140		47,407		46,576
	Total processing and transactional services	39,096		34,194		4,902		36,801		2,295		73,290		70,710
Communications		4,357		4,557		(200	)	4,175		182		8,914		8,263
Business promotion
	Rewards and customer loyalty programs	16,406		14,056		2,350		16,626		(220	)	30,462		28,974
	Other business promotion	9,043		6,933		2,110		8,457		586		15,976		14,980
	Total business promotion	25,449		20,989		4,460		25,083		366		46,438		43,954
Deposit insurance		10,581		23,887		(13,306	)	6,803		3,778		34,468		15,668
Other real estate owned (OREO) income		(5,750	)	(5,321	)	(429	)	(3,314	)	(2,436	)	(11,071	)	(5,008	)
Other operating expenses
	Operational losses	11,823		3,561		8,262		4,280		7,543		15,384		11,080
	All other	15,679		24,711		(9,032	)	18,572		(2,893	)	40,390		36,133
	Total other operating expenses	27,502		28,272		(770	)	22,852		4,650		55,774		47,213
Amortization of intangibles		734		795		(61	)	795		(61	)	1,529		1,590
	Total operating expenses	469,576		483,113		(13,537	)	460,284		9,292		952,689		900,971
Income before income tax		218,248		158,851		59,397		194,663		23,585		377,099		399,956
Income tax expense		40,459		55,568		(15,109	)	43,503		(3,044	)	96,027		89,817
Net income		$177,789		$103,283		$74,506		$151,160		$26,629		$281,072		$310,139
Net income applicable to common stock		$177,436		$102,930		$74,506		$150,807		$26,629		$280,366		$309,433
Net income per common share - basic		$2.47		$1.43		$1.04		$2.10		$0.37		$3.90		$4.32
Net income per common share - diluted		$2.46		$1.43		$1.03		$2.10		$0.36		$3.90		$4.32
Dividends Declared per Common Share		$0.62		$0.62		$-		$0.55		$0.07		$1.24		$1.10

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table C - Consolidated Statement of Financial Condition
(Unaudited)
									Variance
									Q2 2024 vs.
(In thousands)			30-Jun-24		31-Mar-24		30-Jun-23		Q1 2024
Assets:
Cash and due from banks			$359,973		$320,486		$476,642		$39,487
Money market investments			6,851,394		5,928,578		8,593,476		922,816
Trading account debt securities, at fair value			28,045		27,308		29,160		737
Debt securities available-for-sale, at fair value			18,543,279		18,017,924		17,242,217		525,355
		Less: Allowance for credit losses	500		500		-		-
		Debt securities available-for-sale, net	18,542,779		18,017,424		17,242,217		525,355
Debt securities held-to-maturity, at amortized cost			7,975,524		8,083,160		8,410,566		(107,636	)
		Less: Allowance for credit losses	6,251		5,731		6,145		520
		Debt securities held-to-maturity, net	7,969,273		8,077,429		8,404,421		(108,156	)
Equity securities			195,791		195,747		192,373		44
Loans held-for-sale, at lower of cost or fair value			8,225		5,352		55,421		2,873
Loans held-in-portfolio			35,978,602		35,486,161		33,354,999		492,441
		Less: Unearned income	386,982		367,423		324,077		19,559
		Allowance for credit losses	730,077		739,544		700,200		(9,467	)
		Total loans held-in-portfolio, net	34,861,543		34,379,194		32,330,722		482,349
Premises and equipment, net			599,058		588,708		523,927		10,350
Other real estate			70,225		80,542		86,216		(10,317	)
Accrued income receivable			260,162		266,908		239,998		(6,746	)
Mortgage servicing rights, at fair value			113,386		114,964		121,249		(1,578	)
Other assets			2,172,555		2,120,902		1,703,662		51,653
Goodwill			804,428		804,428		827,428		-
Other intangible assets			8,235		8,969		11,354		(734	)
Total assets			$72,845,072		$70,936,939		$70,838,266		$1,908,133
Liabilities and Stockholders’ Equity:
Liabilities:
	Deposits:
		Non-interest bearing	$15,470,082		$15,492,050		$15,316,552		$(21,968	)
		Interest bearing	50,060,780		48,316,734		48,688,266		1,744,046
		Total deposits	65,530,862		63,808,784		64,004,818		1,722,078
Assets sold under agreements to repurchase			105,684		66,090		123,205		39,594
Notes payable			941,580		966,303		1,304,049		(24,723	)
Other liabilities			894,268		918,448		841,185		(24,180	)
Total liabilities			67,472,394		65,759,625		66,273,257		1,712,769
Stockholders’ equity:
Preferred stock			22,143		22,143		22,143		-
Common stock			1,048		1,048		1,047		-
Surplus			4,852,747		4,847,466		4,795,581		5,281
Retained earnings			4,385,522		4,253,030		4,093,284		132,492
Treasury stock			(2,010,500	)	(2,013,187	)	(2,018,611	)	2,687
Accumulated other comprehensive loss, net of tax			(1,878,282	)	(1,933,186	)	(2,328,435	)	54,904
		Total stockholders’ equity	5,372,678		5,177,314		4,565,009		195,364
Total liabilities and stockholders’ equity			$72,845,072		$70,936,939		$70,838,266		$1,908,133

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table D - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP)
For the quarters ended June 30, 2024 and March 31, 2024
(Unaudited)

																								Variance
	Average Volume						Average Yields / Costs									Interest								Attributable to
	30-Jun-24		31-Mar-24	Variance			30-Jun-24		31-Mar-24		Variance						30-Jun-24		31-Mar-24		Variance			Rate			Volume
	(In millions)																(In thousands)
$	6,471	$	6,484	$	(13	)	5.49	%	5.49	%	-		%	Money market investments		$	88,316	$	88,516	$	(200	)	$	(24	)	$	(176	)
	28,943		28,308		635		3.01		2.71		0.30			Investment securities [1]			216,922		191,103		25,819			20,755			5,064
	26		33		(7	)	5.69		3.75		1.94			Trading securities			367		311		56			137			(81	)
														Total money market,
															investment and trading
	35,440		34,825		615		3.47		3.23		0.24				securities		305,605		279,930		25,675			20,868			4,807
														Loans:
	17,707		17,613		94		6.86		6.84		0.02				Commercial		302,003		299,504		2,499			899			1,600
	1,070		992		78		9.11		8.96		0.15				Construction		24,224		22,100		2,124			375			1,749
	1,789		1,742		47		6.86		6.74		0.12				Leasing		30,697		29,353		1,344			554			790
	7,817		7,723		94		5.66		5.62		0.04				Mortgage		110,673		108,543		2,130			803			1,327
	3,192		3,227		(35	)	13.97		13.90		0.07				Consumer		110,906		111,490		(584	)		453			(1,037	)
	3,819		3,763		56		8.88		8.77		0.11				Auto		84,268		82,054		2,214			985			1,229
	35,394		35,060		334		7.52		7.48		0.04			Total loans			662,771		653,044		9,727			4,069			5,658
$	70,834	$	69,885	$	949		5.49	%	5.36	%	0.13		%	Total earning assets		$	968,376	$	932,974	$	35,402		$	24,937		$	10,465
														Interest bearing deposits:
$	26,105	$	25,703	$	402		3.60	%	3.63	%	(0.03	)	%		NOW and money market [2]	$	233,345	$	232,129	$	1,216		$	(3,124	)	$	4,340
	14,732		14,700		32		0.92		0.93		(0.01	)			Savings		33,795		34,171		(376	)		(424	)		48
	9,014		8,547		467		3.25		2.97		0.28				Time deposits		72,799		63,196		9,603			5,497			4,106
	49,851		48,950		901		2.74		2.71		0.03			Total interest bearing deposits			339,939		329,496		10,443			1,949			8,494
	15,176		15,083		93										Non-interest bearing demand deposits
	65,027		64,033		994		2.10		2.07		0.03			Total deposits			339,939		329,496		10,443			1,949			8,494
	80		84		(4	)	5.64		5.70		(0.06	)		Short-term borrowings			1,126		1,192		(66	)		(11	)		(55	)
														Other medium and
	978		998		(20	)	5.16		5.13		0.03				long-term debt		12,530		12,709		(179	)		(108	)		(71	)
														Total interest bearing
	50,909		50,032		877		2.79		2.76		0.03				liabilities (excluding demand deposits)		353,595		343,397		10,198			1,830			8,368

	4,749		4,770		(21	)								Other sources of funds
$	70,834	$	69,885	$	949		2.01	%	1.98	%	0.03		%	Total source of funds			353,595		343,397		10,198			1,830			8,368
														Net interest margin/
							3.48	%	3.38	%	0.10		%		income on a taxable equivalent basis (Non-GAAP)		614,781		589,577		25,204		$	23,107		$	2,097
							2.70	%	2.60	%	0.10		%	Net interest spread
														Taxable equivalent adjustment			46,469		38,833		7,636
														Net interest margin/ income
							3.22	%	3.16	%	0.06		%		non-taxable equivalent basis (GAAP)	$	568,312	$	550,744	$	17,568
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.
[2] Includes interest bearing demand deposits corresponding to certain government entities in Puerto Rico.

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table E - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP)
For the quarters ended June 30, 2024 and June 30, 2023
(Unaudited)

																								Variance
	Average Volume						Average Yields / Costs									Interest								Attributable to
	30-Jun-24		30-Jun-23	Variance			30-Jun-24		30-Jun-23		Variance						30-Jun-24		30-Jun-23		Variance			Rate		Volume
	(In millions)																(In thousands)
$	6,471	$	7,851	$	(1,380	)	5.49	%	5.15	%	0.34		%	Money market investments		$	88,316	$	100,776	$	(12,460	)	$	6,081	$	(18,541	)
	28,943		27,362		1,581		3.01		2.00		1.01			Investment securities [1]			216,922		136,408		80,514			72,325		8,189
	26		32		(6	)	5.69		4.65		1.04			Trading securities			367		370		(3	)		73		(76	)
														Total money market,
															investment and trading
	35,440		35,245		195		3.47		2.70		0.77				securities		305,605		237,554		68,051			78,479		(10,428	)
														Loans:
	17,707		16,237		1,470		6.86		6.52		0.34				Commercial		302,003		263,934		38,069			13,404		24,665
	1,070		737		333		9.11		8.95		0.16				Construction		24,224		16,442		7,782			242		7,540
	1,789		1,632		157		6.86		6.30		0.56				Leasing		30,697		25,711		4,986			2,394		2,592
	7,817		7,409		408		5.66		5.47		0.19				Mortgage		110,673		101,304		9,369			3,666		5,703
	3,192		3,075		117		13.97		13.21		0.76				Consumer		110,906		101,295		9,611			5,103		4,508
	3,819		3,593		226		8.88		8.31		0.57				Auto		84,268		74,467		9,801			4,970		4,831
	35,394		32,683		2,711		7.52		7.15		0.37			Total loans			662,771		583,153		79,618			29,779		49,839
$	70,834	$	67,928	$	2,906		5.49	%	4.84	%	0.65		%	Total earning assets		$	968,376	$	820,707	$	147,669		$	108,258	$	39,411
														Interest bearing deposits:
$	26,105	$	24,230	$	1,875		3.60	%	2.91	%	0.69		%		NOW and money market [2]	$	233,345	$	175,640	$	57,705		$	43,783	$	13,922
	14,732		14,763		(31	)	0.92		0.66		0.26				Savings		33,795		24,446		9,349			7,966		1,383
	9,014		7,715		1,299		3.25		2.26		0.99				Time deposits		72,799		43,402		29,397			18,707		10,690
	49,851		46,708		3,143		2.74		2.09		0.65			Total interest bearing deposits			339,939		243,488		96,451			70,456		25,995
	15,176		15,480		(304	)									Non-interest bearing demand deposits
	65,027		62,188		2,839		2.10		1.57		0.53			Total deposits			339,939		243,488		96,451			70,456		25,995
	80		125		(45	)	5.64		5.19		0.45			Short-term borrowings			1,126		1,624		(498	)		129		(627	)
														Other medium and
	978		1,299		(321	)	5.16		5.33		(0.17	)			long-term debt		12,530		17,227		(4,697	)		1,007		(5,704	)
														Total interest bearing
	50,909		48,132		2,777		2.79		2.19		0.60				liabilities (excluding demand deposits)		353,595		262,339		91,256			71,592		19,664

	4,749		4,316		433									Other sources of funds
$	70,834	$	67,928	$	2,906		2.01	%	1.55	%	0.46		%	Total source of funds			353,595		262,339		91,256			71,592		19,664
														Net interest margin/
							3.48	%	3.29	%	0.19		%		income on a taxable equivalent basis (Non-GAAP)		614,781		558,368		56,413		$	36,666	$	19,747
							2.70	%	2.65	%	0.05		%	Net interest spread
														Taxable equivalent adjustment			46,469		26,700		19,769
														Net interest margin/ income
							3.22	%	3.14	%	0.08		%		non-taxable equivalent basis (GAAP)	$	568,312	$	531,668	$	36,644
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.
[2] Includes interest bearing demand deposits corresponding to certain government entities in Puerto Rico.

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table F - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - YEAR-TO-DATE
(Unaudited)

																								Variance
	Average Volume						Average Yields / Costs									Interest								Attributable to
	30-Jun-24		30-Jun-23	Variance			30-Jun-24		30-Jun-23		Variance						30-Jun-24		30-Jun-23		Variance			Rate		Volume
	(In millions)																(In thousands)
$	6,477	$	6,800	$	(323	)	5.49	%	4.94	%	0.55		%	Money market investments		$	176,832	$	166,500	$	10,332		$	18,468	$	(8,136	)
	28,626		28,108		518		2.86		2.11		0.75			Investment securities [1]			408,024		295,322		112,702			107,442		5,260
	30		31		(1	)	4.60		4.56		0.04			Trading securities			678		708		(30	)		7		(37	)
														Total money market,
															investment and trading
	35,133		34,939		194		3.35		2.67		0.68				securities		585,534		462,530		123,004			125,917		(2,913	)
														Loans:
	17,660		16,000		1,660		6.85		6.42		0.43				Commercial		601,507		509,403		92,104			37,134		54,970
	1,031		734		297		9.04		8.68		0.36				Construction		46,324		31,598		14,726			1,454		13,272
	1,766		1,610		156		6.80		6.21		0.59				Leasing		60,051		49,993		10,058			4,994		5,064
	7,770		7,398		372		5.64		5.46		0.18				Mortgage		219,216		202,076		17,140			6,783		10,357
	3,208		3,049		159		13.94		13.03		0.91				Consumer		222,396		197,010		25,386			13,546		11,840
	3,791		3,576		215		8.82		8.23		0.59				Auto		166,322		145,874		20,448			11,419		9,029
	35,226		32,367		2,859		7.50		7.06		0.44			Total loans			1,315,816		1,135,954		179,862			75,330		104,532
$	70,359	$	67,306	$	3,053		5.43	%	4.78	%	0.65		%	Total earning assets		$	1,901,350	$	1,598,484	$	302,866		$	201,247	$	101,619
														Interest bearing deposits:
$	25,904	$	23,774	$	2,130		3.61	%	2.72	%	0.89		%		NOW and money market [2]	$	465,474	$	320,610	$	144,864		$	113,900	$	30,964
	14,716		14,895		(179	)	0.93		0.57		0.36				Savings		67,966		41,889		26,077			24,160		1,917
	8,780		7,409		1,371		3.11		2.02		1.09				Time deposits		135,995		74,204		61,791			40,371		21,420
	49,400		46,078		3,322		2.73		1.91		0.82			Total interest bearing deposits			669,435		436,703		232,732			178,431		54,301
	15,129		15,592		(463	)									Non-interest bearing demand deposits
	64,529		61,670		2,859		2.09		1.43		0.66			Total deposits			669,435		436,703		232,732			178,431		54,301
	82		186		(104	)	5.67		4.89		0.78			Short-term borrowings			2,318		4,509		(2,191	)		1,603		(3,794	)
														Other medium and
	988		1,124		(136	)	5.13		5.10		0.03				long-term debt		25,239		28,493		(3,254	)		14		(3,268	)
														Total interest bearing
	50,470		47,388		3,082		2.78		2.00		0.78				liabilities (excluding demand deposits)		696,992		469,705		227,287			180,048		47,239

	4,760		4,326		434									Other sources of funds
$	70,359	$	67,306	$	3,053		1.99	%	1.41	%	0.58		%	Total source of funds			696,992		469,705		227,287			180,048		47,239
														Net interest margin/
							3.44	%	3.37	%	0.07		%		income on a taxable equivalent basis (Non-GAAP)		1,204,358		1,128,779		75,579		$	21,199	$	54,380
							2.65	%	2.78	%	(0.13	)	%	Net interest spread
														Taxable equivalent adjustment			85,302		65,455		19,847
														Net interest margin/ income
							3.20	%	3.18	%	0.02		%		non-taxable equivalent basis (GAAP)	$	1,119,056	$	1,063,324	$	55,732
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.
[2] Includes interest bearing demand deposits corresponding to certain government entities in Puerto Rico.

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table G - Mortgage Banking Activities and Other Service Fees
(Unaudited)

Mortgage Banking Activities
		Quarters ended						Variance				Six months ended				Variance
(In thousands)		30-Jun-24		31-Mar-24		30-Jun-23		Q2 2024 vs.Q1 2024		Q2 2024 vs.Q2 2023		30-Jun-24		30-Jun-23		2024 vs. 2023
Mortgage servicing fees, net of fair value adjustments:
	Mortgage servicing fees	$7,602		$7,751		$8,369		$(149	)	$(767	)	$15,353		$17,058		$(1,705	)
	Mortgage servicing rights fair value adjustments	(1,945	)	(3,439	)	(6,216	)	1,494		4,271		(5,384	)	(7,592	)	2,208
Total mortgage servicing fees, net of fair value adjustments		5,657		4,312		2,153		1,345		3,504		9,969		9,466		503
Net (loss) gain on sale of loans, including valuation on loans held-for-sale		2		74		(61	)	(72	)	63		76		202		(126	)
Trading account profit:
	Unrealized gains on outstanding derivative positions	56		101		246		(45	)	(190	)	157		115		42
	Realized gains on closed derivative positions	9		3		111		6		(102	)	12		167		(155	)
Total trading account profit		65		104		357		(39	)	(292	)	169		282		(113	)
Losses on repurchased loans, including interest advances		(1	)	(130	)	(133	)	129		132		(131	)	(234	)	103
Total mortgage banking activities		$5,723		$4,360		$2,316		$1,363		$3,407		$10,083		$9,716		$367


Other Service Fees
		Quarters ended			Variance				Six months ended		Variance
(In thousands)		30-Jun-24	31-Mar-24	30-Jun-23	Q2 2024 vs.Q1 2024		Q2 2024 vs.Q2 2023		30-Jun-24	30-Jun-23	2024 vs. 2023
Other service fees:
	Debit card fees	$16,298	$14,248	$13,600	$2,050		$2,698		$30,546	$26,766	$3,780
	Insurance fees	13,368	14,689	14,625	(1,321	)	(1,257	)	28,057	28,498	(441	)
	Credit card fees	41,626	40,853	42,644	773		(1,018	)	82,479	83,142	(663	)
	Sale and administration of investment products	7,850	7,427	6,076	423		1,774		15,277	12,634	2,643
	Trust fees	6,622	6,707	6,600	(85	)	22		13,329	12,375	954
	Other fees	11,099	10,348	10,720	751		379		21,447	20,926	521
Total other service fees		$96,863	$94,272	$94,265	$2,591		$2,598		$191,135	$184,341	$6,794

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table H - Loans and Deposits
(Unaudited)

Loans - Ending Balances
				Variance
(In thousands)	30-Jun-24	31-Mar-24	30-Jun-23	Q2 2024 vs.Q1 2024		% of Change		Q2 2024 vs.Q2 2023		% of Change
Loans held-in-portfolio:
Commercial
Commercial multi-family	$2,384,480	$2,384,635	$2,331,499	$(155	)	(0.01	%)	$52,981		2.27	%
Commercial real estate non-owner occupied	5,004,472	5,057,059	4,744,256	(52,587	)	(1.04	%)	260,216		5.48	%
Commercial real estate owner occupied	3,143,817	3,117,844	3,041,398	25,973		0.83	%	102,419		3.37	%
Commercial and industrial	7,195,357	7,025,483	6,251,147	169,874		2.42	%	944,210		15.10	%
Total Commercial	17,728,126	17,585,021	16,368,300	143,105		0.81	%	1,359,826		8.31	%
Construction	1,105,759	1,009,303	819,903	96,456		9.56	%	285,856		34.86	%
Leasing	1,828,048	1,765,413	1,661,523	62,635		3.55	%	166,525		10.02	%
Mortgage	7,883,726	7,783,662	7,449,078	100,064		1.29	%	434,648		5.83	%
Consumer
Credit cards	1,162,557	1,142,153	1,057,389	20,404		1.79	%	105,168		9.95	%
Home equity lines of credit	68,992	66,717	68,440	2,275		3.41	%	552		0.81	%
Personal	1,879,619	1,897,010	1,896,594	(17,391	)	(0.92	%)	(16,975	)	(0.90	%)
Auto	3,773,292	3,706,854	3,565,533	66,438		1.79	%	207,759		5.83	%
Other	161,501	162,605	144,162	(1,104	)	(0.68	%)	17,339		12.03	%
Total Consumer	7,045,961	6,975,339	6,732,118	70,622		1.01	%	313,843		4.66	%
Total loans held-in-portfolio	$35,591,620	$35,118,738	$33,030,922	$472,882		1.35	%	$2,560,698		7.75	%
Loans held-for-sale:
Mortgage	$8,225	$5,352	$9,509	$2,873		53.68	%	$(1,284	)	(13.50	%)
Credit cards	-	-	45,912	-		N.M.		(45,912	)	(100.00	%)
Total loans held-for-sale	$8,225	$5,352	$55,421	$2,873		53.68	%	$(47,196	)	(85.16	%)
Total loans	$35,599,845	$35,124,090	$33,086,343	$475,755		1.35	%	$2,513,502		7.60	%

N.M. - Not meaningful.


Deposits - Ending Balances
				Variance
(In thousands)	30-Jun-24	31-Mar-24	30-Jun-23	Q2 2024 vs. Q1 2024		% of Change		Q2 2024 vs.Q2 2023		% of Change
Demand deposits [1]	$25,879,406	$26,473,367	$27,690,840	$(593,961	)	(2.24	%)	$(1,811,434	)	(6.54	%)
Savings, NOW and money market deposits (non-brokered)	29,724,473	27,852,551	27,539,343	1,871,922		6.72	%	2,185,130		7.93	%
Savings, NOW and money market deposits (brokered)	729,326	727,794	772,783	1,532		0.21	%	(43,457	)	(5.62	%)
Time deposits (non-brokered)	8,225,750	7,850,459	7,231,840	375,291		4.78	%	993,910		13.74	%
Time deposits (brokered CDs)	971,907	904,613	770,012	67,294		7.44	%	201,895		26.22	%
Total deposits	$65,530,862	$63,808,784	$64,004,818	$1,722,078		2.70	%	$1,526,044		2.38	%
[1] Includes interest and non-interest bearing demand deposits.

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table I - Loan Delinquency - BPPR Operations
(Unaudited)
30-Jun-24
BPPR
		Past due																		Past due 90 days or more
		30-59			60-89			90 days			Total									Non-accrual			Accruing
(In thousands)		days			days			or more			past due			Current			Loans HIP			loans			loans
Commercial multi-family		$	233		$	-		$	443		$	676		$	304,235		$	304,911		$	443		$	-
Commercial real estate:
	Non-owner occupied		1,713			-			7,484			9,197			2,970,430			2,979,627			7,484			-
	Owner occupied		1,770			232			25,285			27,287			1,389,825			1,417,112			25,285			-
Commercial and industrial			5,387			2,097			26,560			34,044			4,968,740			5,002,784			22,958			3,602
Construction			5,479			-			-			5,479			178,460			183,939			-			-
Mortgage			287,468			105,266			373,306			766,040			5,824,480			6,590,520			163,790			209,516
Leasing			20,631			5,071			7,059			32,761			1,795,287			1,828,048			7,059			-
Consumer:
	Credit cards		15,032			9,436			23,931			48,399			1,114,140			1,162,539			-			23,931
	Home equity lines of credit		-			-			-			-			2,216			2,216			-			-
	Personal		21,535			12,755			19,650			53,940			1,690,933			1,744,873			19,650			-
	Auto		103,873			24,943			39,333			168,149			3,605,143			3,773,292			39,333			-
	Other		976			258			1,207			2,441			151,092			153,533			885			322
Total		$	464,097		$	160,058		$	524,258		$	1,148,413		$	23,994,981		$	25,143,394		$	286,887		$	237,371

31-Mar-24
BPPR
		Past due																		Past due 90 days or more
		30-59			60-89			90 days			Total									Non-accrual			Accruing
(In thousands)		days			days			or more			past due			Current			Loans HIP			loans			loans
Commercial multi-family		$	19,384		$	2,027		$	106		$	21,517		$	282,134		$	303,651		$	106		$	-
Commercial real estate:
	Non-owner occupied		2,378			3,278			7,922			13,578			2,982,907			2,996,485			7,922			-
	Owner occupied		6,628			432			26,124			33,184			1,392,908			1,426,092			26,124			-
Commercial and industrial			3,020			8,552			33,741			45,313			4,699,810			4,745,123			29,171			4,570
Construction			-			-			-			-			162,724			162,724			-			-
Mortgage			254,008			107,224			385,062			746,294			5,737,257			6,483,551			166,473			218,589
Leasing			19,936			4,752			7,267			31,955			1,733,458			1,765,413			7,267			-
Consumer:
	Credit cards		13,034			9,528			23,858			46,420			1,095,716			1,142,136			-			23,858
	Home equity lines of credit		-			226			7			233			2,336			2,569			-			7
	Personal		19,822			12,169			19,092			51,083			1,695,410			1,746,493			19,092			-
	Auto		82,957			18,420			41,807			143,184			3,563,670			3,706,854			41,807			-
	Other		1,022			150			939			2,111			151,567			153,678			632			307
Total		$	422,189		$	166,758		$	545,925		$	1,134,872		$	23,499,897		$	24,634,769		$	298,594		$	247,331


Variance
		Past due																		Past due 90 days or more
		30-59			60-89			90 days			Total									Non-accrual			Accruing
(In thousands)		days			days			or more			past due			Current			Loans HIP			loans			loans
Commercial multi-family		$	(19,151	)	$	(2,027	)	$	337		$	(20,841	)	$	22,101		$	1,260		$	337		$	-
Commercial real estate:
	Non-owner occupied		(665	)		(3,278	)		(438	)		(4,381	)		(12,477	)		(16,858	)		(438	)		-
	Owner occupied		(4,858	)		(200	)		(839	)		(5,897	)		(3,083	)		(8,980	)		(839	)		-
Commercial and industrial			2,367			(6,455	)		(7,181	)		(11,269	)		268,930			257,661			(6,213	)		(968	)
Construction			5,479			-			-			5,479			15,736			21,215			-			-
Mortgage			33,460			(1,958	)		(11,756	)		19,746			87,223			106,969			(2,683	)		(9,073	)
Leasing			695			319			(208	)		806			61,829			62,635			(208	)		-
Consumer:
	Credit cards		1,998			(92	)		73			1,979			18,424			20,403			-			73
	Home equity lines of credit		-			(226	)		(7	)		(233	)		(120	)		(353	)		-			(7	)
	Personal		1,713			586			558			2,857			(4,477	)		(1,620	)		558			-
	Auto		20,916			6,523			(2,474	)		24,965			41,473			66,438			(2,474	)		-
	Other		(46	)		108			268			330			(475	)		(145	)		253			15
Total		$	41,908		$	(6,700	)	$	(21,667	)	$	13,541		$	495,084		$	508,625		$	(11,707	)	$	(9,960	)

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table J - Loan Delinquency - Popular U.S. Operations
(Unaudited)
30-Jun-24
Popular U.S.
		Past due																		Past due 90 days or more
		30-59			60-89			90 days			Total									Non-accrual			Accruing
(In thousands)		days			days			or more			past due			Current			Loans HIP			loans			loans
Commercial multi-family		$	2,962		$	-		$	8,700		$	11,662		$	2,067,907		$	2,079,569		$	8,700		$	-
Commercial real estate:
	Non-owner occupied		2,494			2,783			1,025			6,302			2,018,543			2,024,845			1,025			-
	Owner occupied		-			17,095			22,256			39,351			1,687,354			1,726,705			22,256			-
Commercial and industrial			5,181			304			5,992			11,477			2,181,096			2,192,573			5,782			210
Construction			-			-			-			-			921,820			921,820			-			-
Mortgage			1,309			23,479			11,554			36,342			1,256,864			1,293,206			11,554			-
Consumer:
	Credit cards		-			-			-			-			18			18			-			-
	Home equity lines of credit		890			462			3,780			5,132			61,644			66,776			3,780			-
	Personal		1,770			1,689			1,851			5,310			129,436			134,746			1,851			-
	Other		1,204			-			-			1,204			6,764			7,968			-			-
Total		$	15,810		$	45,812		$	55,158		$	116,780		$	10,331,446		$	10,448,226		$	54,948		$	210

31-Mar-24
Popular U.S.
			Past due																	Past due 90 days or more
		30-59			60-89			90 days			Total									Non-accrual				Accruing
(In thousands)		days			days			or more			past due			Current			Loans HIP			loans			loans
Commercial multi-family		$	3,434		$	-		$	8,700		$	12,134		$	2,068,850		$	2,080,984		$	8,700		$	-
Commercial real estate:
	Non-owner occupied		740			1,364			2,407			4,511			2,056,063			2,060,574			2,407			-
	Owner occupied		6,107			19,009			3,877			28,993			1,662,759			1,691,752			3,877			-
Commercial and industrial			9,961			628			6,634			17,223			2,263,137			2,280,360			6,423			211
Construction			8,825			-			-			8,825			837,754			846,579			-			-
Mortgage			25,558			533			28,071			54,162			1,245,949			1,300,111			28,071			-
Consumer:
	Credit cards		-			-			-			-			17			17			-			-
	Home equity lines of credit		846			390			3,986			5,222			58,926			64,148			3,986			-
	Personal		2,142			1,695			2,068			5,905			144,612			150,517			2,068			-
	Other		-			-			1			1			8,926			8,927			1			-
Total		$	57,613		$	23,619		$	55,744		$	136,976		$	10,346,993		$	10,483,969		$	55,533		$	211



Variance
		Past due																		Past due 90 days or more
		30-59			60-89			90 days			Total									Non-accrual				Accruing
(In thousands)		days			days			or more			past due			Current			Loans HIP			loans			loans
Commercial multi-family		$	(472	)	$	-		$	-		$	(472	)	$	(943	)	$	(1,415	)	$	-		$	-
Commercial real estate:
	Non-owner occupied		1,754			1,419			(1,382	)		1,791			(37,520	)		(35,729	)		(1,382	)		-
	Owner occupied		(6,107	)		(1,914	)		18,379			10,358			24,595			34,953			18,379			-
Commercial and industrial			(4,780	)		(324	)		(642	)		(5,746	)		(82,041	)		(87,787	)		(641	)		(1	)
Construction			(8,825	)		-			-			(8,825	)		84,066			75,241			-			-
Mortgage			(24,249	)		22,946			(16,517	)		(17,820	)		10,915			(6,905	)		(16,517	)		-
Consumer:
	Credit cards		-			-			-			-			1			1			-			-
	Home equity lines of credit		44			72			(206	)		(90	)		2,718			2,628			(206	)		-
	Personal		(372	)		(6	)		(217	)		(595	)		(15,176	)		(15,771	)		(217	)		-
	Other		1,204			-			(1	)		1,203			(2,162	)		(959	)		(1	)		-
Total		$	(41,803	)	$	22,193		$	(586	)	$	(20,196	)	$	(15,547	)	$	(35,743	)	$	(585	)	$	(1	)

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table K - Loan Delinquency - Consolidated
(Unaudited)

30-Jun-24
Popular, Inc.
		Past due																		Past due 90 days or more
		30-59			60-89			90 days			Total									Non-accrual				Accruing
(In thousands)		days			days			or more			past due			Current			Loans HIP			loans			loans
Commercial multi-family		$	3,195		$	-		$	9,143		$	12,338		$	2,372,142		$	2,384,480		$	9,143		$	-
Commercial real estate:
	Non-owner occupied		4,207			2,783			8,509			15,499			4,988,973			5,004,472			8,509			-
	Owner occupied		1,770			17,327			47,541			66,638			3,077,179			3,143,817			47,541			-
Commercial and industrial			10,568			2,401			32,552			45,521			7,149,836			7,195,357			28,740			3,812
Construction			5,479			-			-			5,479			1,100,280			1,105,759			-			-
Mortgage			288,777			128,745			384,860			802,382			7,081,344			7,883,726			175,344			209,516
Leasing			20,631			5,071			7,059			32,761			1,795,287			1,828,048			7,059			-
Consumer:
	Credit cards		15,032			9,436			23,931			48,399			1,114,158			1,162,557			-			23,931
	Home equity lines of credit		890			462			3,780			5,132			63,860			68,992			3,780			-
	Personal		23,305			14,444			21,501			59,250			1,820,369			1,879,619			21,501			-
	Auto		103,873			24,943			39,333			168,149			3,605,143			3,773,292			39,333			-
	Other		2,180			258			1,207			3,645			157,856			161,501			885			322
Total		$	479,907		$	205,870		$	579,416		$	1,265,193		$	34,326,427		$	35,591,620		$	341,835		$	237,581

31-Mar-24
Popular, Inc.
			Past due																	Past due 90 days or more
		30-59			60-89			90 days			Total									Non-accrual				Accruing
(In thousands)		days			days			or more			past due			Current			Loans HIP			loans			loans
Commercial multi-family		$	22,818		$	2,027		$	8,806		$	33,651		$	2,350,984		$	2,384,635		$	8,806		$	-
Commercial real estate:
	Non-owner occupied		3,118			4,642			10,329			18,089			5,038,970			5,057,059			10,329			-
	Owner occupied		12,735			19,441			30,001			62,177			3,055,667			3,117,844			30,001			-
Commercial and industrial			12,981			9,180			40,375			62,536			6,962,947			7,025,483			35,594			4,781
Construction			8,825			-			-			8,825			1,000,478			1,009,303			-			-
Mortgage			279,566			107,757			413,133			800,456			6,983,206			7,783,662			194,544			218,589
Leasing			19,936			4,752			7,267			31,955			1,733,458			1,765,413			7,267			-
Consumer:
	Credit cards		13,034			9,528			23,858			46,420			1,095,733			1,142,153			-			23,858
	Home equity lines of credit		846			616			3,993			5,455			61,262			66,717			3,986			7
	Personal		21,964			13,864			21,160			56,988			1,840,022			1,897,010			21,160			-
	Auto		82,957			18,420			41,807			143,184			3,563,670			3,706,854			41,807			-
	Other		1,022			150			940			2,112			160,493			162,605			633			307
Total		$	479,802		$	190,377		$	601,669		$	1,271,848		$	33,846,890		$	35,118,738		$	354,127		$	247,542

Variance
			Past due																	Past due 90 days or more
		30-59			60-89			90 days			Total									Non-accrual				Accruing
(In thousands)		days			days			or more			past due			Current			Loans HIP			loans			loans
Commercial multi-family		$	(19,623	)	$	(2,027	)	$	337		$	(21,313	)	$	21,158		$	(155	)	$	337		$	-
Commercial real estate:
	Non-owner occupied		1,089			(1,859	)		(1,820	)		(2,590	)		(49,997	)		(52,587	)		(1,820	)		-
	Owner occupied		(10,965	)		(2,114	)		17,540			4,461			21,512			25,973			17,540			-
Commercial and industrial			(2,413	)		(6,779	)		(7,823	)		(17,015	)		186,889			169,874			(6,854	)		(969	)
Construction			(3,346	)		-			-			(3,346	)		99,802			96,456			-			-
Mortgage			9,211			20,988			(28,273	)		1,926			98,138			100,064			(19,200	)		(9,073	)
Leasing			695			319			(208	)		806			61,829			62,635			(208	)		-
Consumer:
	Credit cards		1,998			(92	)		73			1,979			18,425			20,404			-			73
	Home equity lines of credit		44			(154	)		(213	)		(323	)		2,598			2,275			(206	)		(7	)
	Personal		1,341			580			341			2,262			(19,653	)		(17,391	)		341			-
	Auto		20,916			6,523			(2,474	)		24,965			41,473			66,438			(2,474	)		-
	Other		1,158			108			267			1,533			(2,637	)		(1,104	)		252			15
Total		$	105		$	15,493		$	(22,253	)	$	(6,655	)	$	479,537		$	472,882		$	(12,292	)	$	(9,961	)

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table L - Non-Performing Assets
(Unaudited)
										Variance
(In thousands)	30-Jun-24	As a % of loans HIP by category		31-Mar-24	As a % of loans HIP by category		30-Jun-23	As a % of loans HIP by category		Q2 2024 vs. Q1 2024		Q2 2024 vs. Q2 2023
Non-accrual loans:
Commercial
Commercial multi-family	$9,143	0.4	%	$8,806	0.4	%	$602	-	%	$337		$8,541
Commercial real estate non-owner occupied	8,509	0.2		10,329	0.2		23,061	0.5		(1,820	)	(14,552	)
Commercial real estate owner occupied	47,541	1.5		30,001	1.0		40,927	1.3		17,540		6,614
Commercial and industrial	28,740	0.4		35,594	0.5		35,736	0.6		(6,854	)	(6,996	)
Total Commercial	93,933	0.5		84,730	0.5		100,326	0.6		9,203		(6,393	)
Construction	-	-		-	-		9,284	1.1		-		(9,284	)
Leasing	7,059	0.4		7,267	0.4		4,743	0.3		(208	)	2,316
Mortgage	175,344	2.2		194,544	2.5		208,796	2.8		(19,200	)	(33,452	)
Consumer
Home equity lines of credit	3,780	5.5		3,986	6.0		4,252	6.2		(206	)	(472	)
Personal	21,501	1.1		21,160	1.1		20,164	1.1		341		1,337
Auto	39,333	1.0		41,807	1.1		36,204	1.0		(2,474	)	3,129
Other Consumer	885	0.5		633	0.4		1,735	1.2		252		(850	)
Total Consumer	65,499	0.9		67,586	1.0		62,355	0.9		(2,087	)	3,144
Total non-performing loans held-in-portfolio	341,835	1.0	%	354,127	1.0	%	385,504	1.2	%	(12,292	)	(43,669	)
Other real estate owned (“OREO”)	70,225			80,542			86,216			(10,317	)	(15,991	)
Total non-performing assets [1]	$412,060			$434,669			$471,720			$(22,609	)	$(59,660	)
Accruing loans past due 90 days or more [2]	$237,581			$247,542			$273,327			$(9,961	)	$(35,746	)
Ratios:
Non-performing assets to total assets	0.57	%		0.61	%		0.67	%
Non-performing loans held-in-portfolio to loans held-in-portfolio	0.96			1.01			1.17
Allowance for credit losses to loans held-in-portfolio	2.05			2.11			2.12
Allowance for credit losses to non-performing loans, excluding loans held-for-sale	213.58			208.84			181.63
[1] There were no non-performing loans held-for-sale as of June 30, 2024, March 31, 2024 and June 30, 2023.
[2] 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. The balance of these loans includes $10 million at June 30, 2024, related to the rebooking of loans previously pooled into GNMA securities, in which the Corporation had a buy-back option as further described below ( March 31, 2024 - $10 million; June 30, 2023 - $7 million). Under the GNMA program, issuers such as BPPR have the option but not the obligation to repurchase loans that are 90 days or more past due. For accounting purposes, these loans subject to the repurchase option are required to be reflected (rebooked) on the financial statements of BPPR with an offsetting liability. These balances include $81 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of June 30, 2024 (March 31, 2024 - $93 million; June 30, 2023 - $133 million). Furthermore, the Corporation has approximately $34 million in reverse mortgage loans which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation's policy to exclude these balances from non-performing assets (March 31, 2024- $37 million; June 30, 2023 - $39 million).

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table M - Activity in Non-Performing Loans
(Unaudited)

Commercial loans held-in-portfolio:
		Quarter ended						Quarter ended
		30-Jun-24						31-Mar-24
(In thousands)		BPPR		Popular U.S.		Popular, Inc.		BPPR		Popular U.S.		Popular, Inc.
Beginning balance NPLs		$63,323		$21,407		$84,730		$72,992		$11,163		$84,155
Plus:
	New non-performing loans	4,031		21,940		25,971		4,343		15,039		19,382
	Advances on existing non-performing loans	-		282		282		-		20		20
Less:
	Non-performing loans transferred to OREO	(280	)	-		(280	)	-		-		-
	Non-performing loans charged-off	(5,700	)	-		(5,700	)	(7,999	)	(950	)	(8,949	)
	Loans returned to accrual status / loan collections	(5,204	)	(5,866	)	(11,070	)	(6,013	)	(3,865	)	(9,878	)
Ending balance NPLs		$56,170		$37,763		$93,933		$63,323		$21,407		$84,730

Construction loans held-in-portfolio:
		Quarter ended						Quarter ended
		30-Jun-24						31-Mar-24
(In thousands)		BPPR		Popular U.S.		Popular, Inc.		BPPR		Popular U.S.		Popular, Inc.
Beginning balance NPLs		$-		$-		$-		$6,378		$-		$6,378
Less:
	Loans returned to accrual status / loan collections	-		-		-		(6,378	)	-		(6,378	)
Ending balance NPLs		$-		$-		$-		$-		$-		$-

Mortgage loans held-in-portfolio:
		Quarter ended						Quarter ended
		30-Jun-24						31-Mar-24
(In thousands)		BPPR		Popular U.S.		Popular, Inc.		BPPR		Popular U.S.		Popular, Inc.
Beginning balance NPLs		$166,473		$28,071		$194,544		$175,106		$11,191		$186,297
Plus:
	New non-performing loans	37,009		3,967		40,976		29,160		20,334		49,494
	Advances on existing non-performing loans	-		16		16		-		2		2
Less:
	Non-performing loans transferred to OREO	(4,260	)	(24	)	(4,284	)	(4,109	)	-		(4,109	)
	Non-performing loans charged-off	110		(18	)	92		(310	)	-		(310	)
	Loans returned to accrual status / loan collections	(35,542	)	(20,458	)	(56,000	)	(33,374	)	(3,456	)	(36,830	)
Ending balance NPLs		$163,790		$11,554		$175,344		$166,473		$28,071		$194,544



Total non-performing loans held-in-portfolio (excluding consumer):
		Quarter ended						Quarter ended
		30-Jun-24						31-Mar-24
(In thousands)		BPPR		Popular U.S.		Popular, Inc.		BPPR		Popular U.S.		Popular, Inc.
Beginning balance NPLs		$229,796		$49,478		$279,274		$254,476		$22,354		$276,830
Plus:
	New non-performing loans	41,040		25,907		66,947		33,503		35,373		68,876
	Advances on existing non-performing loans	-		298		298		-		22		22
Less:
	Non-performing loans transferred to OREO	(4,540	)	(24	)	(4,564	)	(4,109	)	-		(4,109	)
	Non-performing loans charged-off	(5,590	)	(18	)	(5,608	)	(8,309	)	(950	)	(9,259	)
	Loans returned to accrual status / loan collections	(40,746	)	(26,324	)	(67,070	)	(45,765	)	(7,321	)	(53,086	)
Ending balance NPLs		$219,960		$49,317		$269,277		$229,796		$49,478		$279,274

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table N - Allowance for Credit Losses, Net Charge-offs and Related Ratios
(Unaudited)


	Quarters ended
(In thousands)	30-Jun-24			31-Mar-24			30-Jun-23
Balance at beginning of period - loans held-in-portfolio	$739,544			$729,341			$689,120
Provision for credit losses	44,157			72,386			35,661
Initial allowance for credit losses - PCD Loans	6			17			10
	783,707			801,744			724,791
Net loans charge-off (recovered)- BPPR
Commercial:
Commercial multi-family	-			(1	)		(1	)
Commercial real estate non-owner occupied	(44	)		(325	)		430
Commercial real estate owner occupied	(1,134	)		2,247			(329	)
Commercial and industrial	6,021			5,109			(1,431	)
Total Commercial	4,843			7,030			(1,331	)
Leasing	2,700			3,685			1,593
Mortgage	(3,749	)		(4,426	)		(3,384	)
Consumer:
Credit cards	13,712			13,958			6,502
Home equity lines of credit	41			104			(25	)
Personal	20,975			21,940			12,641
Auto	10,257			13,846			2,491
Other Consumer	529			424			200
Total Consumer	45,514			50,272			21,809
Total net charged-off BPPR	$49,308			$56,561			$18,687

Net loans charge-off (recovered) - Popular U.S.
Commercial:
Commercial multi-family	(4	)		440			(1	)
Commercial real estate non-owner occupied	(42	)		(64	)		(66	)
Commercial real estate owner occupied	(59	)		(24	)		156
Commercial and industrial	988			408			1,734
Total Commercial	883			760			1,823
Construction	(100	)		-			-
Mortgage	(17	)		(25	)		(109	)
Consumer:
Home equity lines of credit	(383	)		(148	)		(166	)
Personal	3,941			5,027			3,708
Other Consumer	(2	)		25			47
Total Consumer	3,556			4,904			3,589
Total net charged-off Popular U.S.	$4,322			$5,639			$5,303
Total loans charged-off - Popular, Inc.	$53,630			$62,200			$23,990
Net write- downs [1]	$-			$-			$601
Balance at end of period - loans held-in-portfolio	$730,077			$739,544			$700,200

Balance at beginning of period - unfunded commitments	$16,767			$17,006			$9,415
Provision for credit losses (benefit)	2,118			(239	)		2,178
Balance at end of period - unfunded commitments [2]	$18,885			$16,767			$11,593

POPULAR, INC.
Annualized net charge-offs (recoveries) to average loans held-in-portfolio	0.61		%	0.71		%	0.29		%
Provision for credit losses - loan portfolios to net charge-offs	82.34		%	116.38		%	148.65		%
BPPR
Annualized net charge-offs (recoveries) to average loans held-in-portfolio	0.79		%	0.92		%	0.33		%
Provision for credit losses (benefit) - loan portfolios to net charge-offs	98.53		%	107.86		%	151.86		%
Popular U.S.
Annualized net charge-offs (recoveries) to average loans held-in-portfolio	0.16		%	0.21		%	0.22		%
Provision for credit losses (benefit) - loan portfolios to net charge-offs	(102.45	)	%	201.77		%	137.32		%
[1] Net write-downs for the quarter ended June 30, 2023 are related to credit cards loans reclassified to held-for-sale.
[2] 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 Second Quarter 2024 Earnings Release
Table O - Allowance for Credit Losses "ACL"- Loan Portfolios - Consolidated
(Unaudited)


30-Jun-24
(In thousands)	Total ACL		Total loans held-in-portfolio		ACL to loans held-in-portfolio
Commercial:
Commercial multi-family	$11,180		$2,384,480		0.47		%
Commercial real estate - non-owner occupied	64,235		5,004,472		1.28		%
Commercial real estate - owner occupied	58,190		3,143,817		1.85		%
Commercial and industrial	126,482		7,195,357		1.76		%
Total commercial	$260,087		$17,728,126		1.47		%
Construction	12,889		1,105,759		1.17		%
Mortgage	83,289		7,883,726		1.06		%
Leasing	14,385		1,828,048		0.79		%
Consumer:
Credit cards	86,313		1,162,557		7.42		%
Home equity lines of credit	1,726		68,992		2.50		%
Personal	107,448		1,879,619		5.72		%
Auto	157,449		3,773,292		4.17		%
Other consumer	6,491		161,501		4.02		%
Total consumer	$359,427		$7,045,961		5.10		%
Total	$730,077		$35,591,620		2.05		%



31-Mar-24
(In thousands)	Total ACL		Total loans held-in-portfolio		ACL to loans held-in-portfolio
Commercial:
Commercial multi-family	$12,743		$2,384,635		0.53		%
Commercial real estate - non-owner occupied	65,624		5,057,059		1.30		%
Commercial real estate - owner occupied	63,807		3,117,844		2.05		%
Commercial and industrial	120,418		7,025,483		1.71		%
Total commercial	$262,592		$17,585,021		1.49		%
Construction	11,139		1,009,303		1.10		%
Mortgage	86,438		7,783,662		1.11		%
Leasing	8,991		1,765,413		0.51		%
Consumer:
Credit cards	88,169		1,142,153		7.72		%
Home equity lines of credit	1,872		66,717		2.81		%
Personal	116,077		1,897,010		6.12		%
Auto	157,456		3,706,854		4.25		%
Other consumer	6,810		162,605		4.19		%
Total consumer	$370,384		$6,975,339		5.31		%
Total	$739,544		$35,118,738		2.11		%



Variance
(In thousands)	Total ACL		Total loans held-in-portfolio		ACL to loans held-in-portfolio
Commercial:
Commercial multi-family	$(1,563	)	$(155	)	(0.06	)	%
Commercial real estate - non-owner occupied	(1,389	)	(52,587	)	(0.02	)	%
Commercial real estate - owner occupied	(5,617	)	25,973		(0.20	)	%
Commercial and industrial	6,064		169,874		0.05		%
Total commercial	$(2,505	)	$143,105		(0.02	)	%
Construction	1,750		96,456		0.07		%
Mortgage	(3,149	)	100,064		(0.05	)	%
Leasing	5,394		62,635		0.28		%
Consumer:
Credit cards	(1,856	)	20,404		(0.30	)	%
Home equity lines of credit	(146	)	2,275		(0.31	)	%
Personal	(8,629	)	(17,391	)	(0.40	)	%
Auto	(7	)	66,438		(0.08	)	%
Other consumer	(319	)	(1,104	)	(0.17	)	%
Total consumer	$(10,957	)	$70,622		(0.21	)	%
Total	$(9,467	)	$472,882		(0.06	)	%

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table P - Allowance for Credit Losses "ACL"- Loan Portfolios - BPPR Operations
(Unaudited)

30-Jun-24
BPPR
(In thousands)		Total ACL		Total loans held-in-portfolio		ACL to loans held-in-portfolio
Commercial:
	Commercial multi-family	$3,303		$304,911		1.08		%
	Commercial real estate - non-owner occupied	53,386		2,979,627		1.79		%
	Commercial real estate - owner occupied	39,375		1,417,112		2.78		%
	Commercial and industrial	111,263		5,002,784		2.22		%
Total commercial		$207,327		$9,704,434		2.14		%
Construction		3,638		183,939		1.98		%
Mortgage		73,900		6,590,520		1.12		%
Leasing		14,385		1,828,048		0.79		%
Consumer:
	Credit cards	86,313		1,162,539		7.42		%
	Home equity lines of credit	83		2,216		3.75		%
	Personal	94,021		1,744,873		5.39		%
	Auto	157,449		3,773,292		4.17		%
	Other consumer	6,489		153,533		4.23		%
Total consumer		$344,355		$6,836,453		5.04		%
Total		$643,605		$25,143,394		2.56		%


31-Mar-24
BPPR
(In thousands)		Total ACL		Total loans held-in-portfolio		ACL to loans held-in-portfolio
Commercial:
	Commercial multi-family	$3,567		$303,651		1.17		%
	Commercial real estate - non-owner occupied	53,666		2,996,485		1.79		%
	Commercial real estate - owner occupied	43,537		1,426,092		3.05		%
	Commercial and industrial	102,844		4,745,123		2.17		%
Total commercial		$203,614		$9,471,351		2.15		%
Construction		3,114		162,724		1.91		%
Mortgage		76,564		6,483,551		1.18		%
Leasing		8,991		1,765,413		0.51		%
Consumer:
	Credit cards	88,169		1,142,136		7.72		%
	Home equity lines of credit	102		2,569		3.97		%
	Personal	99,504		1,746,493		5.70		%
	Auto	157,456		3,706,854		4.25		%
	Other consumer	6,808		153,678		4.43		%
Total consumer		$352,039		$6,751,730		5.21		%
Total		$644,322		$24,634,769		2.62		%


Variance
(In thousands)		Total ACL		Total loans held-in-portfolio		ACL to loans held-in-portfolio
Commercial:
	Commercial multi-family	$(264	)	$1,260		(0.09	)	%
	Commercial real estate - non-owner occupied	(280	)	(16,858	)	-		%
	Commercial real estate - owner occupied	(4,162	)	(8,980	)	(0.27	)	%
	Commercial and industrial	8,419		257,661		0.05		%
Total commercial		$3,713		$233,083		(0.01	)	%
Construction		524		21,215		0.07		%
Mortgage		(2,664	)	106,969		(0.06	)	%
Leasing		5,394		62,635		0.28		%
Consumer:
	Credit cards	(1,856	)	20,403		(0.30	)	%
	Home equity lines of credit	(19	)	(353	)	(0.22	)	%
	Personal	(5,483	)	(1,620	)	(0.31	)	%
	Auto	(7	)	66,438		(0.08	)	%
	Other consumer	(319	)	(145	)	(0.20	)	%
Total consumer		$(7,684	)	$84,723		(0.17	)	%
Total		$(717	)	$508,625		(0.06	)	%

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table Q - Allowance for Credit Losses "ACL"- Loan Portfolios - POPULAR U.S. Operations
(Unaudited)

30-Jun-24
Popular U.S.
(In thousands)		Total ACL		Total loans held-in-portfolio		ACL to loans held-in-portfolio
Commercial:
	Commercial multi-family	$7,877		$2,079,569		0.38		%
	Commercial real estate - non-owner occupied	10,849		2,024,845		0.54		%
	Commercial real estate - owner occupied	18,815		1,726,705		1.09		%
	Commercial and industrial	15,219		2,192,573		0.69		%
Total commercial		$52,760		$8,023,692		0.66		%
Construction		9,251		921,820		1.00		%
Mortgage		9,389		1,293,206		0.73		%
Consumer:
	Credit cards	-		18		-		%
	Home equity lines of credit	1,643		66,776		2.46		%
	Personal	13,427		134,746		9.96		%
	Other consumer	2		7,968		0.03		%
Total consumer		$15,072		$209,508		7.19		%
Total		$86,472		$10,448,226		0.83		%

31-Mar-24
Popular U.S.
(In thousands)		Total ACL		Total loans held-in-portfolio		ACL to loans held-in-portfolio
Commercial:
	Commercial multi-family	$9,176		$2,080,984		0.44		%
	Commercial real estate - non-owner occupied	11,958		2,060,574		0.58		%
	Commercial real estate - owner occupied	20,270		1,691,752		1.20		%
	Commercial and industrial	17,574		2,280,360		0.77		%
Total commercial		$58,978		$8,113,670		0.73		%
Construction		8,025		846,579		0.95		%
Mortgage		9,874		1,300,111		0.76		%
Consumer:
	Credit cards	-		17		-		%
	Home equity lines of credit	1,770		64,148		2.76		%
	Personal	16,573		150,517		11.01		%
	Other consumer	2		8,927		0.02		%
Total consumer		$18,345		$223,609		8.20		%
Total		$95,222		$10,483,969		0.91		%


Variance
(In thousands)		Total ACL		Total loans held-in-portfolio		ACL to loans held-in-portfolio
Commercial:
	Commercial multi-family	$(1,299	)	$(1,415	)	(0.06	)	%
	Commercial real estate - non-owner occupied	(1,109	)	(35,729	)	(0.04	)	%
	Commercial real estate - owner occupied	(1,455	)	34,953		(0.11	)	%
	Commercial and industrial	(2,355	)	(87,787	)	(0.08	)	%
Total commercial		$(6,218	)	$(89,978	)	(0.07	)	%
Construction		1,226		75,241		0.05		%
Mortgage		(485	)	(6,905	)	(0.03	)	%
Consumer:
	Credit cards	-		1		-		%
	Home equity lines of credit	(127	)	2,628		(0.30	)	%
	Personal	(3,146	)	(15,771	)	(1.05	)	%
	Other consumer	-		(959	)	0.01		%
Total consumer		$(3,273	)	$(14,101	)	(1.01	)	%
Total		$(8,750	)	$(35,743	)	(0.08	)	%

Popular, Inc.
Financial Supplement to Second Quarter 2024 Earnings Release
Table R - Reconciliation to GAAP Financial Measures
(Unaudited)


(In thousands, except share or per share information)	30-Jun-24			31-Mar-24			30-Jun-23
Total stockholders’ equity	$5,372,678			$5,177,314			$4,565,009
Less: Preferred stock	(22,143	)		(22,143	)		(22,143	)
Less: Goodwill	(804,428	)		(804,428	)		(827,428	)
Less: Other intangibles	(8,235	)		(8,969	)		(11,354	)
Total tangible common equity	$4,537,872			$4,341,774			$3,704,084
Total assets	$72,845,072			$70,936,939			$70,838,266
Less: Goodwill	(804,428	)		(804,428	)		(827,428	)
Less: Other intangibles	(8,235	)		(8,969	)		(11,354	)
Total tangible assets	$72,032,409			$70,123,542			$69,999,484
Tangible common equity to tangible assets	6.30		%	6.19		%	5.29		%
Common shares outstanding at end of period	72,365,926			72,284,875			72,103,969
Tangible book value per common share	$62.71			$60.06			$51.37

	Quarterly average
Total stockholders’ equity [1]	$6,303,672			$6,198,740			$5,783,912
Average unrealized (gains) losses on AFS securities transferred to HTM	595,362			639,226			769,576
Adjusted total stockholder's equity	6,899,034			6,837,966			6,553,488
Less: Preferred Stock	(22,143	)		(22,143	)		(22,143	)
Less: Goodwill	(804,427	)		(804,427	)		(827,427	)
Less: Other intangibles	(8,706	)		(9,490	)		(11,875	)
Total tangible equity	$6,063,758			$6,001,906			$5,692,043
Return on average tangible common equity	11.77		%	6.90		%	10.63		%
[1] Average balances exclude unrealized gains or losses on debt securities available-for-sale.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240724246918/en/

Popular, Inc.

Investor Relations:

Paul J. Cardillo, 212-417-6721

Senior Vice President and Investor Relations Officer

pcardillo@popular.com

Media Relations:

MC González Noguera, 917-804-5253

Executive Vice President and Chief Communications & Public Affairs Officer

mc.gonzalez@popular.com

Source: Popular, Inc.

FAQ

What was the net income for Popular in Q2 2024?

Popular reported a net income of $177.8 million for Q2 2024, an increase from $103.3 million in Q1 2024.

How did Popular's net interest income perform in Q2 2024?

Net interest income increased by $17.6 million to $568.3 million in Q2 2024.

What was Popular's net interest margin in Q2 2024?

Popular's net interest margin was 3.22% in Q2 2024, up from 3.16% in Q1 2024.

What were the operating expenses for Popular in Q2 2024?

Operating expenses for Popular in Q2 2024 were $469.6 million, down by $13.5 million compared to Q1 2024.

How did Popular's credit quality metrics change in Q2 2024?

Popular saw improvements in credit quality with non-performing loans decreasing by $12.3 million and net charge-offs reducing by $8.6 million.

What new capital actions did Popular announce?

Popular announced a $500 million stock repurchase and a 13% increase in its quarterly dividend.

What were Popular's loan and deposit ending balances in Q2 2024?

Popular's loan ending balances were $35.6 billion, and deposit ending balances were $65.5 billion in Q2 2024.

Popular, Inc. Announces Second Quarter 2024 Financial Results

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What were the operating expenses for Popular in Q2 2024?

How did Popular's credit quality metrics change in Q2 2024?

What new capital actions did Popular announce?

What were Popular's loan and deposit ending balances in Q2 2024?

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Popular, Inc. Announces Second Quarter 2024 Financial Results

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What was the net income for Popular in Q2 2024?

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What was Popular's net interest margin in Q2 2024?

What were the operating expenses for Popular in Q2 2024?

How did Popular's credit quality metrics change in Q2 2024?

What new capital actions did Popular announce?

What were Popular's loan and deposit ending balances in Q2 2024?

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