---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-194095"
form_type: "8-K"
ticker: "BPOP"
cik: "0000763901"
company_name: "POPULAR, INC."
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:33:14.519418+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-194095
- form_type: 8-K
- ticker: BPOP
- cik: 0000763901
- company_name: POPULAR, INC.
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/763901/000119312523194095/0001193125-23-194095-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763901/000119312523194095/d523281d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-194095
- JSON: https://secwatch.observer/filing/0001193125-23-194095.json
- Plain text: https://secwatch.observer/filing/0001193125-23-194095.txt

## Key facts
- Earnings Releases
  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
  source text: Popular, Inc. (the "Corporation") issued a press release announcing its unaudited financial results for the quarter ended June 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/763901/000119312523194095/0001193125-23-194095-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.