8-K

EFFECTIVE AUGUST 23RD, 2004

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)   September 3, 2004

POPULAR, INC.

(Exact name of registrant as specified in its charter)

Commonwealth of Puerto Rico	No. 0-13818	No. 66-0416582
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

209 Muñoz Rivera Avenue Hato Rey, Puerto Rico	00918
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code   (787) 765-9800

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	Item 2.01. Completion of Acquisition or Disposition of Assets
	Item 9.01. Financial Statements and Exhibits
SIGNATURE
Exhibit Index
EX-99.1 NEWS RELEASE,DATED SEPTEMBER 3,2004

Item 2.01. Completion of Acquisition or Disposition of Assets

On August 31, 2004, Popular, Inc. completed the acquisition of Quaker City Bancorp. Quaker City is a savings and loan holding company for Quaker City Bank, based in Whittier, California. Quaker City Bank operates 27 retail full service branches in Southern California, including 16 inside Wal-Mart stores. At June 30, 2004, Quaker City reported total assets of $1.9 billion and total deposits of $1.2 billion.

In this transaction Popular, Inc. acquired all of the common stock of Quaker City at the price of $55 cash per share.

Item 9.01. Financial Statements and Exhibits

Exhibit

99.1 News release dated September 3, 2004, announcing the completed acquisition of Quaker City Bancorp by Popular, Inc.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	POPULAR, INC. (Registrant)
Date: September 3, 2004	By:	/s/ Ileana González
	Name: Title:	Ileana González Senior Vice President and Comptroller

Exhibit Index

Exhibit Number	Description
99.1	News release, dated September 3, 2004

EX-99.1

EXHIBIT 99.1

NEWS RELEASE

For additional information please contact:

Teruca Rullán, Global Communications
Popular, Inc.
787-765-9800 or 917- 679-3596/mobile
trullan@bppr.com

Frances I. Ryan, Banco Popular North America
847-994-5972 or 847-924-4766/ mobile
fryan@bppr.com

SAN JUAN, Puerto Rico (Friday, September 3, 2004) - On August 31, 2004, Popular, Inc. completed the acquisition of Quaker City Bancorp. Quaker City is a savings and loan holding company for Quaker City Bank, based in Whittier, California. Quaker City Bank operates 27 retail full service branches in Southern California, including 16 inside Wal-Mart stores. At June 30, 2004, Quaker City reported total assets of $1.9 billion and total deposits of $1.1 billion. In this transaction Popular, Inc. acquired all of the common stock of Quaker City at the price of $55 cash per share.

Popular, Inc. is a complete financial services provider with operations in Puerto Rico, the United States, the Caribbean and Latin America. With $40 billion in assets, Popular, Inc. ranks among the 30 largest bank holding companies in the U.S.

Banco Popular North America, the main banking subsidiary of Popular, Inc. in the U.S. mainland and the country’s largest Hispanic-owned financial institution, operates over 100 full service branches in six states including California, Texas, Illinois, New York, New Jersey and Florida. The 27 retail Quaker City locations will begin operating under the Banco Popular name in 2005 bringing the total number of Banco Popular branches in the U.S. to 127.

As the leading financial institution in Puerto Rico, Popular, Inc. offers full retail and commercial banking services through its main subsidiary, Banco Popular de Puerto Rico, as well as investment banking, auto and equipment leasing and financing, mortgage loans, consumer lending, insurance and information processing through specialized subsidiaries. The Corporation continues to use its expertise in technology and electronic banking as a competitive advantage in its Caribbean and Latin America expansion, and to the region. Popular, Inc. has always been committed to meeting the needs of retail and business clients through innovation, and to fostering growth in the communities it serves.