Popular Q2 2023 net income $151.2M, down 5% QoQ; NIM narrows to 3.14%

POPULAR, INC.

2023-Q2 EPS reported $4.32

Net income $151.2M ($2.10 diluted EPS) vs $159.0M ($2.22) in Q1 2023; net interest income stable at $531.7M.
Net interest margin 3.14% (3.29% tax-equiv) vs 3.22% in Q1; deposit costs rose but loan growth offset.
Loans grew $692.5M and deposits increased $3.1B from Q1; non-performing loans fell $26.9M.
Credit quality improved: annualized NCOs 0.29% (vs 0.41% in Q1); ACL to NPLs at 181.6%.
CET1 ratio 16.87%, tangible book value $51.37; to redeem $300M of 6.125% notes on Aug 14.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

POPULAR, INC. reported the quarter ended June 30, 2023 results: net income $151.2 million, EPS $2.10.

Period: the quarter ended June 30, 2023
Net income: $151.2 million
EPS: $2.10
Result: reported results

Exact text from the filing

Popular, Inc. (the "Corporation") issued a press release announcing its unaudited financial results for the quarter ended June 30, 2023

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

POPULAR, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-194095

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