Popular Q1 net income $103.3M, EPS $1.43; NII rises 3% QoQ, NIM widens 8bps

POPULAR, INC.

2024-Q1 EPS reported $1.43 revenue$37,442,000

GAAP net income $103.3M ($1.43 diluted EPS), up from $94.6M ($1.31) in Q4; adjusted net income $135.2M.
Net interest income $550.7M (+3.1% QoQ); net interest margin 3.16% (up 8 bps).
Operating expenses $483.1M, down $48M QoQ, includes $14.3M FDIC special assessment; ex-items up $2.7M.
Credit stable: NPL ratio 1.0%, NCO ratio 0.71%, ACL ratio 2.11% (all vs prior).
CET1 ratio 16.36%, tangible book value $60.06/share; deposits grew $190.5M ending balance.

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 Q1 2024 results: net income $103.3 million, EPS $1.43.

Period: Q1 2024
Net income: $103.3 million
EPS: $1.43
Result: reported results

Exact text from the filing

Popular, Inc. Announces First Quarter 2024 Financial Results • Net income of $103.3 million in Q1 2024, compared to net income of $94.6 million in Q4 2023.

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POPULAR, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-105952

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