AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Popular, Inc. reported Q2 2026 net income of $278.2M (+32% YoY), driven by net interest income of $693.4M (+10% YoY) and expanded NIM to 3.66%, partially offset by higher credit loss provisions at $65.9M.
Biggest Revenue Drivers
Net interest income$693.4M+9.8% YoY
Higher investments in U.S. Treasury securities at higher yields, loan growth, and lower cost of deposits, mainly P.R. public deposits, partially offset by lower money market investments.
Non-interest income$180.5M+7.2% YoY
Mainly driven by higher credit and debit card fee income from higher activity and purchase volumes including corporate-focused products.
Biggest Revenue Drivers
Net interest income$693.4M+9.8% YoY
Higher investments in U.S. Treasury securities at higher yields, loan growth, and lower cost of deposits, mainly P.R. public deposits, partially offset by lower money market investments.
Non-interest income$180.5M+7.2% YoY
Mainly driven by higher credit and debit card fee income from higher activity and purchase volumes including corporate-focused products.
Largest Expense Items
Operating expenses$484.1M-1.8% YoY
Decrease mainly driven by lower operational loss reserves and lower professional services expense, partially offset by higher technology and software expenses.
Margins: Net interest margin expanded 17 basis points to 3.66% YoY (32 bps on taxable-equivalent basis to 4.17%), driven by higher-yielding U.S. Treasury investments, loan growth, and lower deposit costs. Provision uptick reflects specific NPL reserves in commercial portfolio but improved credit metrics in consumer portfolios.
Watch Items from the Filing
Puerto Rico government deposits of $22.7B represent significant funding concentration; fluctuate with federal fund receipt rates and Puerto Rico's fiscal condition under PROMESA restructuring.
Commercial loan NPLs increased significantly in Q2 with $155M transferred to LHFS and $129M in new C&I nonaccruals; provision increased 35% YoY to $65.9M.
Direct exposure to Puerto Rico government entities and municipalities totaled $414.7M outstanding; concentrated 81% in San Juan, Guaynabo, Carolina, and Caguas.
Common Equity Tier 1 capital ratio improved to 16.08% at June 30, 2026 from 15.72% at year-end 2025; tangible book value per share increased $5.29 to $87.94.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About POPULAR, INC. (BPOP): stock profile, AI score and financials
POPULAR, INC. (BPOP) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores BPOP at 69.4/100 on a composite quality score built from its SEC filings, placing it at rank #258 of 2,925 stocks — the top 10% of the AI-ranked universe. BPOP scores in the top quartile across profitability (91.3), free cash flow (78.4). Areas of concern include earnings quality (35.0), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), POPULAR, INC. reports quarterly revenue of $874.0M, net income of $278.2M, an operating margin of 37.1%. Top institutional holders of BPOP by reported 13-F value include PRICE T ROWE ASSOCIATES, VANGUARD PORTFOLIO MANAGEMENT, BlackRock, based on the most recent SEC filings. BPOP trades on the Nasdaq exchange and files with the SEC under CIK 763901. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate BPOP daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for POPULAR, INC. directly from SEC EDGAR.