POPULAR, INC.
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 7, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-08.
0001193125-26-214600
Item 2. Management’s Discussion and Analysis of FinancialCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-07.
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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
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This report includes management’s discussion and analysis (“MD&A”) of the consolidated financial position and financial performance of
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Popular, Inc. (the “Corporation" or “Popular"). All accompanying tables, financial statements and notes included elsewhere in this report
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should be considered an integral part of this analysis.
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The Corporation is a diversified, publicly owned financial holding company subject to the supervision and regulation of the Board of
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Governors of the Federal Reserve System. The Corporation has operations in Puerto Rico, the United States (“U.S.") mainland and the U.S.
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and British Virgin Islands. In Puerto Rico, the Corporation provides retail, mortgage, commercial banking services and auto and equipment
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leasing and financing through its principal banking subsidiary, Banco Popular de Puerto Rico (“BPPR"), as well as broker-dealer and
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insurance services through specialized subsidiaries. In the U.S. mainland, the Corporation provides retail, mortgage and commercial
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banking services, as well as equipment leasing and financing, through its New York-chartered banking subsidiary, Popular Bank (“PB" or
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“Popular U.S."), which has branches located in New York, New Jersey and Florida. Note 26 to the Consolidated Financial Statements
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presents information about the Corporation’s business segments.
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As a financial services company, the Corporation’s earnings are significantly affected by general business and economic conditions in the
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markets which we serve. Lending and deposit activities and fee income generation are influenced by the level of business spending and
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investment, consumer income, spending and savings, capital market activities, competition, customer preferences, interest rate conditions
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and prevailing market rates on competing products.
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The Corporation operates in a highly regulated environment and may be adversely affected by changes in federal and local laws and
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regulations. Also, competition with other financial institutions, as well as with non-traditional financial service providers and technology
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companies that provide electronic and internet-based financial solutions and services, could adversely affect its profitability.
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The Corporation continuously monitors general business and economic conditions, industry-related indicators and trends, competition,
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interest rate volatility, credit quality indicators, loan and deposit demand, operational and systems efficiencies, revenue enhancements and
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changes in the regulation of financial services companies.
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The description of the Corporation’s business contained in Item 1 of the 2025 Form 10-K, while not all inclusive, discusses additional
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information about the business of the Corporation. Readers should also refer to “Part I - Item 1A" of the 2025 Form 10-K and “Part II - Item
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1A" of this Form 10-Q for a discussion of certain risks and uncertainties to which the Corporation is subject, many beyond the Corporation’s
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control that, in addition to the other information in this Form 10-Q, readers should consider.
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The Corporation’s common stock is traded on the NASDAQ Global Select Market under the symbol BPOP.
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SIGNIFICANT EVENTS
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Capital Actions
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On July 23, 2026, the Corporation announced the following capital actions:
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•an increase in the Corporation’s quarterly common stock dividend from $0.75 to $0.90 per share, commencing with the dividend
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payable in the fourth quarter of 2026, subject to the approval of the Corporation’s Board of Directors; and
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•a new common stock repurchase authorization of up to $1 billion.
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The Corporation’s planned common stock repurchases may be executed in open market transactions, privately negotiated transactions,
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block trades or any other manner determined by the Corporation. The Corporation has repurchased approximately $280 million in common
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stock to date in 2026 and, as of June 30, 2026, had fully utilized the $500 million common stock repurchase authorization approved in 2025.
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The timing, quantity and price of the Corporation's common stock repurchases will be subject to various factors, including market conditions,
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the Corporation’s capital position, liquidity and financial performance, the capital impact of strategic initiatives and tax and regulatory
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considerations, including regulatory approvals for subsidiary dividends. The common stock repurchase authorization does not require the
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Corporation to acquire a specific dollar amount or number of shares and may be modified, suspended or terminated at any time without prior
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Condition and
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Results of Operations