Popular Q3 net income falls to $155M on higher provision; EPS $2.16 vs $2.46 Q2

POPULAR, INC.

2024-Q3 EPS reported $6.05

Net income $155.3M, down from $177.8M Q2; diluted EPS $2.16 vs $2.46.
Net interest income $572.5M (+$4.2M QoQ); net interest margin 3.24% vs 3.22%.
Provision for credit losses $71.4M, up 53% from $46.8M Q2, partly due to 2% loan growth.
Loans held-in-portfolio $36.2B (+$603M QoQ); deposits $63.7B (-$1.9B).
Repurchased 599K shares for $58.8M; CET1 ratio 16.42%; tangible book $69.04 (+$6.33).

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