BPOP

Popular, Inc. is the largest financial institution in Puerto Rico and a leading bank in the United States mainland, providing retail, mortgage, and commercial banking services. Headquartered in San Juan, Puerto Rico, Popular operates primarily through its Banco Popular de Puerto Rico subsidiary (Puerto Rico's largest bank) and Popular Bank (formerly Popular Community Bank) serving mainland U.S. markets including New York, New Jersey, Florida, California, and Illinois. With over $70 billion in assets, Popular is a significant regional banking institution with deep roots in Puerto Rican and Hispanic communities. Banco Popular de Puerto Rico dominates Puerto Rico's banking market with extensive branch network, full-service banking capabilities, and leadership in consumer, mortgage, commercial, and small business banking. The bank provides checking and savings accounts, mortgages, auto loans, credit cards, personal loans, business banking, and wealth management services to Puerto Rican residents and businesses. Popular Bank serves U.S. mainland Hispanic and broader communities with banking products, mortgage origination, SBA lending, and commercial banking. The company also operates EVERTEC for payment processing and technology services (formerly majority-owned, now minority stake). Popular generates revenue through net interest income from lending and securities portfolios, mortgage banking income (significant mortgage origination and servicing), fee income from deposits and services, and payment processing. The company has navigated Puerto Rico's economic challenges including extended recession, Hurricane Maria devastation, debt restructuring, and COVID-19 impacts. Popular has maintained market leadership, strong capital and liquidity, and consistent profitability despite challenging operating environment. The company has restructured Puerto Rico operations, expanded and diversified mainland presence, improved efficiency, and invested in digital banking. Popular competes against FirstBank, Oriental Bank (OFG Bancorp), and others in Puerto Rico, and against larger banks and regional institutions in mainland markets. The company's deep Puerto Rico franchise provides competitive advantages but also concentration risks. Popular continues pursuing growth in attractive mainland markets, particularly serving Hispanic communities, while maintaining dominant Puerto Rico position and demonstrating resilience through economic and natural disaster challenges.