secwatch.observer — SEC 8-K summary
======================================

Issuer:     POPULAR, INC. (BPOP)
CIK:        0000763901
Form:       8-K
Filed at:   2024-07-24T23:59:59+00:00
Accession:  0001193125-24-183299
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Popular Q2 net income $177.8M, EPS $2.47; announces $500M buyback and 13% dividend hike
--------------------------------------------------------------------------------

- Net income $177.8M ($2.47 diluted EPS) vs Q1 $103.3M; adjusted net income up $42.6M ex-FDIC charge.
- Net interest income $568.3M (+3.2% QoQ); net interest margin expanded 6 bps to 3.22%.
- Credit quality improved: NPLs down $12.3M, NCOs down $8.6M, ACL/NPLs 213.6%.
- Authorized $500M common stock repurchase; quarterly dividend raised 13% to $0.70 (Q1 2025, pending Board).
- CET1 ratio 16.48%; loans $35.6B, deposits $65.5B at quarter-end.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763901/000119312524183299/0001193125-24-183299-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763901/000119312524183299/d857011d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-183299

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer