Popular (BPOP) Reports Q1 EPS of $0.37
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Popular, Inc. Announces First Quarter 2020 Financial Results
April 30, 2020 8:00 AM EDTNet income of $34.3 million in Q1 2020, compared to net income of $166.8 million in Q4 2019. Net interest margin of 3.94% in Q1 2020, compared to 3.83% in Q4 2019; Net interest margin on a taxable equivalent basis of 4.34% in Q1 2020, compared to 4.20% in Q4 2019. Q1 2020 results reflect the impact of the adoption of the Current Expected Credit Losses (CECL) accounting standard. Credit Quality: Non-performing loans held-in-portfolio (NPLs) increased by $240.8 million from Q4 2019, mostly due to the effect of the adoption of CECL on previously acquired credit deteriorated loans; excluding this impact,... More
