Popular (BPOP) Tops Q3 EPS by 83c

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Popular, Inc. Announces Third Quarter 2021 Financial Results

October 20, 2021 8:00 AM EDT

Net income of $248.1 million in Q3 2021, compared to net income of $218.1 million in Q2 2021. Net interest margin of 2.77% in Q3 2021, compared to 2.91% in Q2 2021; net interest margin on a taxable equivalent basis of 3.04% in Q3 2021, compared to 3.22% in Q2 2021. Credit Quality: Non-performing loans held-in-portfolio (NPLs) decreased by $52.3 million from Q2 2021; NPLs to loans ratio at 2.2% vs. 2.4% in Q2 2021; Net charge-offs (NCOs) increased by $10.1 million from Q2 2021; NCOs at 0.12% of average loans held-in-portfolio vs. (0.02%) in Q2 2021; Allowance for credit losses (ACL) to loans held-in-portfolio at 2.49%... More