Popular Q2 net income $211.4M flat QoQ; net interest margin expands 34 bps to 3.09%

POPULAR, INC.

2022-Q2 EPS reported $5.46

Net income $211.4M ($2.77 diluted EPS) vs $211.7M ($2.69) in Q1 2022; revenue up on higher NII and non-interest income.
Net interest margin rose 34 bps to 3.09% (taxable-equivalent 3.45%) driven by higher rates and loan growth.
Completed Evertec channel acquisition on July 1, 2022; paid with 4.59M Evertec shares valued at $169M, recording ~$112M after-tax gain.
Completed $400M accelerated share repurchase on July 12, 2022, buying back 5.07M shares at $78.94 average.
Credit quality improved: NPLs fell $42M to 1.57% of loans; net charge-offs low at 0.08% annualized; ACL coverage 142.7% of NPLs.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.