secwatch.observer — SEC 8-K summary
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Issuer:     POPULAR, INC. (BPOP)
CIK:        0000763901
Form:       8-K
Filed at:   2024-10-23T23:59:59+00:00
Accession:  0001193125-24-241434
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763901/000119312524241434/0001193125-24-241434-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763901/000119312524241434/d846230d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-241434

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