8-K

UNITED STATESSECURITIES 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):October 19, 2011


POPULAR, INC.
(Exact name of registrant as specified in its charter)

COMMONWEALTH OF PUERTO RICO	001-34084	66-0667416
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

209 MUNOZ RIVERA AVENUE HATO REY, PUERTO RICO	00918
(Address of principal executive offices)	(Zip code)

(787) 765-9800

(Registrant's telephone number, including area code)

NOT APPLICABLE

(Former name, former address and former fiscal year, 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:

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

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

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

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

Item 2.02. Results of Operations and Financial Condition.

On October 19, 2011, Popular, Inc. issued a news release announcing its unaudited financial results for the quarter and nine months ended September 30, 2011, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information furnished pursuant to this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for purposes of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any of the Corporation’s filings under the Securities Act of 1933, as amended, unless otherwise expressly stated in such filing.

Item 9.01. Financial Statements and Exhibits

99.1 Press release dated October 19, 2011

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:	October 20, 2011	By: /s/ Ileana González
		Ileana González
		Senior Vice President and Comptroller

EX-99.1

Exhibit 99.1

Popular, Inc. Reports Net income of $27.5 million for the Quarter Ended September 30, 2011

• Pre-tax income of $33.1 million, vs. pre-tax income of $72.6 million in Q2
• Net income per common share of $0.03
• Gross revenues of $492 million, vs. $499 million in Q2
• Net benefit of approximately $4.7 million, before tax, recorded on the sale of commercial and construction loans with a book value of $128 million; the majority were in non-accruing status at the transaction date
• Gain of $8.1 million on the sale of investment securities available-for-sale
• Provision for loan losses increased by $32.0 million, or 22% vs. Q2; allowance for loan losses stood at 3.35% of non-covered loans held-in-portfolio; net charge-offs increased $3.5 million
• Total operating expenses remained stable
• Strong capital ratios
• Completed transaction to buy $130 million credit-card portfolio

SAN JUAN, Puerto Rico--Wednesday, October 19, 2011--Popular, Inc. (“the Corporation” or “Popular”) (NASDAQ: BPOP) reported net income of $27.5 million for the quarter ended September 30, 2011, compared with net income of $110.7 million for the quarter ended June 30, 2011, and net income of $494.1 million for the quarter ended September 30, 2010. The results for the second quarter of 2011 included a tax benefit of approximately $59.6 million related to the timing of loan charge-offs for tax purposes, while the results for the third quarter of 2010 included a $640.8 million gain recognized in connection with the sale of 51% interest in EVERTEC.

Mr. Richard L. Carrión, Chairman of the Board and Chief Executive Officer, said, “With our third consecutive profitable quarter, we continue to make progress as we drive Popular on a path to greater profitability. In Puerto Rico, where we have a uniquely valuable franchise, the credit environment remains uneven. While we have seen improvement in some of our portfolios, we increased our provisions for the commercial portfolio. In the U.S., we exceeded our expectations with another quarter of steady net interest income and lower funding costs in the midst of improving credit conditions.”

Mr. Carrión added, “Our unique market position is reflected in our ability to produce stable top line revenue throughout the credit cycle. We are continuing to de-risk our balance sheet and reduce our expense base, among other measures, to position Popular for improved performance in 2012. We remain focused on reducing our elevated credit costs, which is the key to unlocking the enormous value potential of this organization.”

Sale of Construction and Commercial Real Estate Loans

On September 29, 2011, Banco Popular de Puerto Rico (“BPPR”), the Corporation’s principal banking subsidiary, completed the sale of construction and commercial real estate loans with an unpaid principal balance and net book value of approximately $358 million and $128 million, respectively. The majority of the loans sold were in non-performing status at the transaction date. The purchaser was a newly created joint venture (the “Joint Venture”), which is majority owned by a limited liability company created by Goldman Sachs & Co., Caribbean Property Group LLC and East Rock Capital LLC.

During the third quarter of 2011, the Corporation recognized a positive impact to revenues of approximately $4.7 million before tax as a result of the sale. This included approximately $17.4 million classified as gain on sale of loans, partially offset by $12.7 million of provision for loan losses related to write-downs taken on certain loans that were reclassified from held-in-portfolio to held-for-sale during the third quarter of 2011.

As consideration for the sale of the loans, BPPR received approximately $48 million in cash, a note for approximately $86 million as seller financing and a 24.9% equity interest in the new Joint Venture. BPPR extended a $68.5 million advance facility to the Joint Venture to cover unfunded commitments and other costs to complete the construction projects and a $20 million working capital line of credit to fund certain expenses of the Joint Venture.

Earnings Highlights – Third Quarter 2011 compared to Second Quarter 2011

	Quarter ended
			$ Variance
(Dollars in thousands)	September 30, 2011	June 30, 2011	Q3 vs. Q2 2011	September 30, 2010
Net interest income	$369,311	$374,542	($5,231)	$356,778
Provision for loan losses – non-covered loans	150,703	95,712	54,991	215,013
Provision for loan losses – covered loans [1]	25,573	48,605	(23,032)	-
Net interest income after provision for loan losses	193,035	230,225	(37,190)	141,765
Non-interest income	122,390	124,160	(1,770)	825,894
Operating expenses	282,355	281,800	555	371,541
Income before income tax	33,070	72,585	(39,515)	596,118
Income tax expense (benefit)	5,537	(38,100)	43,637	102,032
Net income	$27,533	$110,685	($83,152)	$494,086
Net income applicable to common stock	$26,602	$109,754	($83,152)	$494,086
Net income per common share - basic and diluted	$0.03	$0.11	($0.08)	$0.48
[1] Covered loans represent loans acquired in the Westernbank FDIC-assisted transaction that are covered under FDIC Westernbank loss sharing agreements.

Refer to the accompanying “Financial Supplement to Third Quarter 2011 Earnings Release” for detailed financial information and key performance ratios.

Net interest income

• The decrease in net interest income of $5.2 million for the third quarter of 2011 was mainly a combination of lower volume and yields on loans and investment securities, partially offset by lower levels and funding costs of deposits and borrowings. The net interest margin decreased from 4.48% for the second quarter of 2011 to 4.45% for the third quarter of 2011. Refer to Tables D and E for detailed information on average financial condition balances and an analysis of yield / rates by main categories.
• The principal variance in interest income on loans was a reduction in the interest from covered loans by $10.1 million. During the second quarter of this year the Corporation received full payment for one of the pools accounted for pursuant to ASC 310-30. This payment was not expected as part of the pool’s original cash flow estimate. As a result, the reassessment of cash flows performed in the second quarter yielded a one-time benefit of approximately $10.9 million as the remaining unamortized discount was recognized into earnings. Other factors contributing to this variance include a lower discount accretion on covered loans (revolving facilities) accounted for pursuant to ASC Subtopic 310-20 by $5.6 million, partially offset by the effect of the reassessment of expected cash flows for those loans accounted for pursuant to ASC 310-30.

• The cost on deposits declined by 9 basis points. This decrease was achieved in BPPR due to continued progress in lowering deposit costs, and in Banco Popular North America (“BPNA”), facilitated by a lower rate environment and the shrinking of BPNA’s balance sheet.
• The decrease in interest expense on borrowings of $5.1 million was principally related to a reduction in interest expense associated with the note issued to the FDIC as part of the Westernbank-assisted transaction by approximately $5.8 million. The reduction was due to lower levels as the FDIC note balance averaged $1.1 billion for the third quarter of 2011, compared with $1.9 billion for the second quarter of 2011.

Provision for loan losses

• The increase in the provision for loan losses of $32.0 million was the result of an increase in the provision for non-covered loans by $55.0 million, partially offset by a decrease in the provision for loan losses on the covered loans by $23.0 million. The increase related to non-covered loans was principally associated with the BPPR reportable segment’s commercial and residential mortgage loan portfolios since weak economic conditions in Puerto Rico continue to adversely impact these portfolios. In addition, $12.7 million of the increase was associated with write-downs on commercial loans transferred from the held-in-portfolio to the held-for-sale category during the third quarter of 2011. These loans were part of the sale executed in September 2011. The decrease in the provision for loan losses on the covered loan portfolio was impacted by the reassessment of expected credit deterioration considered in the quarterly recasting of cash flows, which had a greater impact in the second quarter as it relates to covered loans accounted for under ASC 310-30.

Non-interest income

• FDIC loss share expense amounting to $5.4 million was recognized in the third quarter of 2011, compared with FDIC loss share income of $38.7 million for the second quarter of 2011. The unfavorable variance in these quarterly results was mainly due to:

• A reduction of $28.8 million in the quarterly accretion of the FDIC loss share indemnification asset. The decrease resulted from the evaluation of expected cash flows of the loan portfolio completed in June and updated in September that resulted in reduced losses expected to be collected from the FDIC. This reduction in losses also results in an improvement in interest income due to an increase in the accretable yield on the covered loans. The impact in interest income is taken throughout the life of the loans whereas the life of the indemnification asset is shorter given the timeframe of the FDIC loss sharing agreements.

• A decrease of $18.4 million related to a reduction in the 80% mirror accounting of the provision for loan losses. As indicated previously, the provision for loan losses on the covered loans amounted to $25.6 million in the third quarter of 2011, compared with $48.6 million in the second quarter of 2011.
• Partially offset by a reduction of $4.5 million in the 80% mirror accounting of loans accounted under ASC Subtopic 310-20 due to lower discount accretion on covered loans.

• Net gain on sale of loans, including valuation adjustments on loans held-for-sale, amounted to $20.3 million for the third quarter of 2011, compared with a net loss of $12.8 million for the second quarter of 2011. The gain for the quarter was primarily related to the non-performing construction and commercial loan sale transaction. As indicated previously, the gain on sale of approximately $17.4 million on this transaction was partially offset by the $12.7 million provision for loan losses recorded on certain loans reclassified to held-for-sale during the third quarter. The net loss for the quarter ended June 30, 2011 was influenced by unfavorable fair value adjustments related to disbursements made to customers on the unfunded commitments of construction and commercial loans held-for-sale.
• Gains on the sale of investment securities available-for-sale amounting to $8.1 million were recognized during the third quarter of 2011, principally from the sale of approximately $234 million in FHLB notes. With this sale, the Corporation monetized part of the unrealized gain in its investment portfolio and will use the proceeds to prepay part of the FDIC note without prepayment penalty, thereby generating favorable economics.
• Other service fees increased by $4.4 million mostly due to greater fees derived from the sale and administration of investment products, particularly commissions on the sale of a bond issuance, and insurance fees. Also, there were increases in credit card fees related to interchange income due to higher transaction volume and higher fees related to the recently acquired Citibank’s Puerto Rico American Airlines Advantage credit card portfolio. Refer to Table F in the Financial Supplement for a breakdown of other service fees.

Operating expenses

• Operating expenses in total remained stable. Business promotion expense reflected an increase of $3.3 million, principally due to earned points related to the new credit card program offered since August 2011 and advertising expenses. There were other increases in operating expenses including an unfavorable variance in the category of reserves for unfunded credit commitments. These unfavorable variances were partially offset by decreases in other real estate expenses, FDIC deposit insurance expense and other taxes. Refer to Table B which provides a breakdown of operating expenses by main categories.

Income taxes

• The variance in income tax was principally the result of the impact of the private ruling and closing agreement entered into by the Corporation with the Puerto Rico Department of the Treasury during the second quarter of 2011, which resulted in a tax benefit for the Corporation of $59.6 million during that quarter. The tax benefit related to the timing of loan charge-offs for tax purposes.

Credit Quality

• Excluding covered loans, the allowance for loan losses to loans held-in-portfolio ratio stood at 3.35% at September 30, 2011, almost unchanged when compared to 3.34% at June 30, 2011. The general and specific reserves amounted to $634 million and $58 million, respectively, as of September 30, 2011, compared with $670 million and $20 million, respectively, as of June 30, 2011. The reduction in the general component of the allowance for loan losses on the non-covered loans for the quarter ended September 30, 2011 was mostly attributable to improved credit performance and lower volume of commercial loans in the BPNA reportable segment. Commercial loans held-in-portfolio, excluding covered loans, declined by $147 million from June 30, 2011 to September 30, 2011, principally at the BPNA reportable segment. The increase in the specific reserve was principally associated to higher reserve requirements on the mortgage and commercial loan portfolios of the BPPR reportable segment. Refer to Tables H through M for detailed credit quality information, including the activity in the allowance for loan losses.

• Non-performing loans, excluding loans held-for-sale and covered loans, increased $107 million, or 7%, from June 30, 2011 to September 30, 2011. Refer to Table I for the activity in non-performing commercial and construction loans, excluding covered loans and loans held-for-sale.
• Net charge-offs for the quarter ended September 30, 2011 increased by $3.5 million, compared with the second quarter of 2011. Excluding covered loans, net charge-offs for the third quarter of 2011 increased by $1.8 million, compared with the quarter ended June 30, 2011.

BPPR Reportable Segment

• Excluding the impact of the provision for loan losses for the covered loan portfolio, the provision for loan losses for non-covered loans of the BPPR reportable segment totaled $131.1 million for the third quarter of 2011, an increase of $60.4 million, from $70.7 million for the second quarter of 2011. The increase was principally driven by higher net charge-offs, delinquencies and loan modifications of the commercial and residential mortgage loans portfolios at the BPPR reportable segment, in addition to the negative impact of approximately $12.7 million in the provision for loan losses related to commercial loans transferred from the held-in-portfolio to held-for-sale category during the third quarter of 2011.
• Annualized net charge-offs to average non-covered loans held-in-portfolio ratio for the BPPR reportable segment increased 27 basis points, from 2.22% for the quarter ended June 30, 2011 to 2.49% for the quarter ended September 30, 2011. The increase was principally driven by net charge-offs of the commercial loan portfolio, prompted by impaired commercial loans accounted for as collateral dependent loans.
• Non-performing loans of the BPPR reportable segment, excluding loans held-for-sale and covered loans, increased from $1.2 billion at June 30, 2011 to $1.3 billion at September 30, 2011, mainly due to the commercial, construction and residential mortgage loan portfolios. The weak economic conditions in Puerto Rico continue to adversely impact these portfolios.
• Refer to Table L for information on the allowance for loan losses of the Corporation’s Puerto Rico operations. The increase in the allowance for loan losses as of September 30, 2011 reflects an increase in the loss trend in the commercial loan portfolio, and higher specific reserve requirements mainly in the commercial and mortgage loan portfolios. The latter was driven by a higher level of mortgage loans restructured under loss mitigation programs.

BPNA Reportable Segment

• The provision for loan losses for the BPNA reportable segment amounted to $19.6 million or 43.2% of net charge-offs for the third quarter of 2011, compared with $25.0 million or 46.1% of net charge-offs for the second quarter of 2011. The decrease in the provision for loan losses was principally driven by improvements in credit performance and lower loan balances, primarily in the commercial loan portfolio.

• Annualized net charge-offs to average loans held-in-portfolio ratio for the BPNA reportable segment declined 45 basis points, from 3.45% for the quarter ended June 30, 2011 to 3.00% for the quarter ended September 30, 2011. Net charge-offs of the commercial and construction loan portfolios continue to reflect a decreasing trend in the Corporation’s U.S. Mainland operations.

• Non-performing loans held-in-portfolio of the BPNA reportable segment amounted to $395 million as of September 30, 2011 compared with $415 million as of June 30, 2011. Non-performing commercial, construction and consumer loans at the BPNA reportable segment reflected a decreasing trend, as the Corporation’s U.S. Mainland operations have continued to reflect certain signs of stabilization. Non-performing mortgage loans increased by $5 million from June 30, 2011 in part due to loans restructured under loss mitigation programs.
• Refer to Table M for information on the allowance for loan losses of the BPNA reportable segment. The decline in the allowance for loan losses as of September 30, 2011 reflects declining losses in the commercial loan portfolio, partially offset by an increase in the specific reserve for mortgage loans restructured under loss mitigation programs.

Financial Condition Highlights – September 30, 2011 compared to June 30, 2011

• Total assets amounted to $38.2 billion as of September 30, 2011, compared with $39.0 billion as of June 30, 2011. Refer to Table C for a detailed presentation of the Corporation’s Consolidated Statements of Condition.

• Total investment securities, including trading securities and other investment securities, totaled $5.8 billion as of September 30, 2011, compared with $6.5 billion as of June 30, 2011. Investment securities available-for-sale declined $163 million due to the previously mentioned sale of FHLB notes. Trading securities declined as well by $513 million, principally due to the sale of mortgage-backed securities. The FHLB notes and mortgage-backed securities’ trades executed in late September settled in October 2011, thus for accounting purposes such securities were classified as trade receivables in the “other assets” caption in the consolidated statement of condition as of September 30, 2011. The sale of mortgage-backed securities was made to take advantage of favorable market conditions for the securities held in the trading portfolio and the proceeds were subsequently used to repay short-term debt.
• Total loans held-in-portfolio declined $88 million from June 30, 2011 to September 30, 2011. Refer to Table G for a breakdown by loan categories. Commercial and construction non-covered loans held-in-portfolio decreased $183 million from June 30, 2011 to September 30, 2011, which consisted of a decline of $196 million at the BPNA reportable segment, partially offset by an increase of $13 million in the BPPR reportable segment. The decline in the commercial loan portfolio was offset by mortgage loan activity in Puerto Rico as well as the impact of the credit card portfolio acquired from Citibank in early August 2011.
• Loans held-for-sale declined $140 million from June 30, 2011 to September 30, 2011, principally due to the sale of the commercial and construction loan portfolio.
• The FDIC loss share asset amounted to $1.8 billion as of September 30, 2011, compared with $2.4 billion as of June 30, 2011. The decline was principally due to claims receivables outstanding as of June 30, 2011 of approximately $545 million which were collected from the FDIC in July 2011.
• Deposits totaled $28.0 billion as of September 30, 2011 and June 30, 2011. Table G presents a breakdown of deposits by major categories.
• The Corporation’s borrowings amounted to $5.3 billion as of September 30, 2011, compared with $6.1 billion as of June 30, 2011. The decrease in borrowings was mostly related to a reduction in principal of $803 million on the note issued to the FDIC. This note has a carrying amount of $714 million as of September 30, 2011. This decrease was due to the impact of payments of principal from loan and claim collections as well as prepayments during the quarter.
• Stockholders’ equity remained stable at $4.0 billion as of September 30, 2011. Refer to Table A for capital ratios and Table N for Non-GAAP reconciliations. The Corporation continues to be well-capitalized. Capital ratios as of September 30, 2011 improved compared with June 30, 2011 due to a reduction on assets, higher net deferred tax asset included without limitation in regulatory capital and internal capital generation.

Forward-Looking Statements

The information included in this news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and involve certain risks and uncertainties that may cause actual results to differ materially from those expressed in forward-looking statements. Factors that might cause such a difference include, but are not limited to (i) the rate of growth in the economy and employment levels, as well as general business and economic conditions; (ii) changes in interest rates, as well as the magnitude of such changes; (iii) the fiscal and monetary policies of the federal government and its agencies; (iv) changes in federal bank regulatory and supervisory policies, including required levels of capital; (v) the relative strength or weakness of the consumer and commercial credit sectors and of the real estate markets in Puerto Rico and the other markets in which borrowers are located; (vi) the performance of the stock and bond markets; (vii) competition in the financial services industry; (viii) possible legislative, tax or regulatory changes; (ix) the impact of the Dodd-Frank Act on our businesses, business practice and cost of operations; and (x) additional Federal Deposit Insurance Corporation assessments. For a discussion of such factors and certain risks and uncertainties to which the Corporation is subject, see the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2010, as well as its filings with the U.S. Securities and Exchange Commission. Other than to the extent required by applicable law, including the requirements of applicable securities laws, the Corporation assumes no obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.

Founded in 1893, Popular, Inc. is the leading banking institution by both assets and deposits in Puerto Rico and ranks 36th by assets among U.S. banks. In the United States, Popular has established a community-banking franchise providing a broad range of financial services and products with branches in New York, New Jersey, Illinois, Florida and California.

An electronic version of this press release can be found at the Corporation’s website, www.popular.com.

Popular, Inc.

Financial Supplement to Third Quarter 2011 Earnings Release

Table A - Selected Ratios and Other Information

Table B - Consolidated Statement of Operations

Table C - Consolidated Statement of Condition

Table D - Consolidated Average Balances and Yield / Rate Analysis - QUARTER

Table E - Consolidated Average Balances and Yield / Rate Analysis - YEAR-TO-DATE

Table F - Breakdown of Other Service Fees

Table G - Loans and Deposits

Table H - Non-Performing Assets

Table I - Activity in Non-performing Loans

Table J - Allowance for Credit Losses, Net Charge-offs and Related Ratios

Table K - Allowance for Loan Losses - Breakdown of general and specific reserves - CONSOLIDATED

Table L - Allowance for Loan Losses - Breakdown of general and specific reserves - PUERTO RICO OPERATIONS

Table M - Allowance for Loan Losses - Breakdown of general and specific reserves - U.S. MAINLAND OPERATIONS

Table N - Reconciliation to GAAP Financial Measures

Table O - Financial Information - Westernbank Covered Loans

POPULAR, INC.
Financial Supplement to Third Quarter 2011 Earnings Release
Table A - Selected Ratios and Other Information
(Unaudited)
	Quarter ended			Quarter ended			Quarter ended			Nine months ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2011			2011			2010			2011			2010
Net income (loss) per common share:
Basic and diluted	$	0.03		$	0.11		$	0.48		$	0.14		$	0.21
Average common shares outstanding		1,021,660,038			1,021,225,911			1,021,374,014			1,021,474,504			839,196,564
Average common shares outstanding - assuming dilution		1,021,660,038			1,021,896,141			1,021,374,014			1,022,517,199			839,509,525
Common shares outstanding at end of period		1,024,475,398			1,023,977,895			1,022,686,418			1,024,475,398			1,022,686,418
Market value per common share	$	1.50		$	2.76		$	2.90		$	1.50		$	2.90
Market Capitalization --- (In millions)	$	1,537		$	2,826		$	2,966		$	1,537		$	2,966
Return on average assets		0.29	%		1.15	%		4.88	%		0.52	%		1.28	%
Return on average common equity		2.81	%		12.02	%		56.94	%		5.33	%		16.77	%
Net interest margin [1]		4.45	%		4.48	%		4.03	%		4.36	%		3.69	%
Common equity per share	$	3.87		$	3.82		$	3.98		$	3.87		$	3.98
Tangible common book value per common share (non-GAAP)	$	3.17		$	3.14		$	3.29		$	3.17		$	3.29
Tangible common equity to tangible assets (non-GAAP)		8.67	%		8.38	%		8.41	%		8.67	%		8.41	%
Tier 1 risk-based capital [2]		15.82	%		15.22	%		15.03	%		15.82	%		15.03	%
Total risk-based capital [2]		17.09	%		16.50	%		16.32	%		17.09	%		16.32	%
Tier 1 leverage [2]		10.59	%		10.19	%		10.10	%		10.59	%		10.10	%
Tier 1 common equity to risk-weighted assets (non-GAAP) [2]		12.02	%		11.53	%		11.56	%		12.02	%		11.56	%
[1] Not on a taxable equivalent basis.
[2] Capital ratios for the current quarter are estimated.

POPULAR, INC.
Financial Supplement to Third Quarter 2011 Earnings Release
Table B - Consolidated Statement of Operations
(Unaudited)
	Quarter ended			Quarter ended			Variance			Quarter ended			Nine months ended			Nine months ended
(In thousands, except	September 30,			June 30,			Q3 2011 vs.			September 30,			September 30,			September 30,
per share information)	2011			2011			Q2 2011			2010			2011			2010
Interest income:
Loans	$	428,999		$	442,460		$	(13,461	)	$	455,631		$	1,294,834		$	1,231,290
Money market investments		886			926			(40	)		1,391			2,759			4,326
Investment securities		51,085			53,723			(2,638	)		57,277			157,183			185,118
Trading account securities		10,788			9,790			998			7,136			29,332			20,313
Total interest income		491,758			506,899			(15,141	)		521,435			1,484,108			1,441,047
Interest expense:
Deposits		65,868			70,672			(4,804	)		86,330			213,419			269,919
Short-term borrowings		13,744			13,719			25			14,945			41,478			45,756
Long-term debt		42,835			47,966			(5,131	)		63,382			141,999			185,082
Total interest expense		122,447			132,357			(9,910	)		164,657			396,896			500,757
Net interest income		369,311			374,542			(5,231	)		356,778			1,087,212			940,290
Provision for loan losses		176,276			144,317			31,959			215,013			395,912			657,471
Net interest income after provision for loan losses		193,035			230,225			(37,190	)		141,765			691,300			282,819
Service charges on deposit accounts		46,346			46,802			(456	)		48,608			138,778			149,865
Other service fees		62,664			58,307			4,357			100,822			179,623			305,867
Net gain (loss) on sale and valuation adjustments of investment securities		8,134			(90	)		8,224			3,732			8,044			4,210
Trading account profit		2,912			874			2,038			5,860			3,287			8,101
Net gain (loss) on sale of loans, including valuation adjustments on loans held-for-sale		20,294			(12,782	)		33,076			4,250			14,756			14,396
Adjustments (expense) to indemnity reserves on loans sold		(10,285	)		(9,454	)		(831	)		(5,823	)		(29,587	)		(37,502	)
FDIC loss share (expense) income		(5,361	)		38,670			(44,031	)		(7,668	)		49,344			(22,705	)
Fair value change in equity appreciation instrument		-			578			(578	)		10,641			8,323			35,035
Gain on sale of processing and technology business		-			-			-			640,802			-			640,802
Other operating income		(2,314	)		1,255			(3,569	)		24,670			38,350			84,518
Total non-interest income		122,390			124,160			(1,770	)		825,894			410,918			1,182,587
Operating expenses:
Personnel costs
Salaries		77,455			76,698			757			93,791			227,944			274,933
Commissions, incentives and other bonuses		11,630			11,995			(365	)		21,302			33,548			41,670
Pension, postretirement and medical insurance		11,385			12,810			(1,425	)		14,711			36,181			46,456
Other personnel costs, including payroll taxes		11,254			9,456			1,798			11,401			31,150			37,110
Total personnel costs		111,724			110,959			765			141,205			328,823			400,169
Net occupancy expenses		25,885			25,957			(72	)		28,425			76,428			86,359
Equipment		10,517			10,761			(244	)		25,432			33,314			74,231
Other taxes		12,391			14,623			(2,232	)		13,872			38,986			38,635
Professional fees		48,756			49,479			(723	)		48,224			144,923			109,498
Communications		6,800			7,188			(388	)		9,514			21,198			31,628
Business promotion		14,650			11,332			3,318			11,260			35,842			29,759
FDIC deposit insurance		23,285			27,682			(4,397	)		17,183			68,640			49,894
Loss on early extinguishment of debt		109			289			(180	)		25,448			8,637			26,426
Other real estate owned (OREO)		3,234			6,440			(3,206	)		6,997			11,885			26,322
Credit and debit card processing, volume, interchange and other		5,416			4,206			1,210			14,846			13,565			38,747
Other operating expenses		17,125			10,629			6,496			26,724			49,990			62,287
Amortization of intangibles		2,463			2,255			208			2,411			6,973			6,915
Total operating expenses		282,355			281,800			555			371,541			839,204			980,870
Income before income tax		33,070			72,585			(39,515	)		596,118			263,014			484,536
Income tax expense (benefit)		5,537			(38,100	)		43,637			102,032			114,664			119,994
Net income	$	27,533		$	110,685		$	(83,152	)	$	494,086		$	148,350		$	364,542
Net income applicable to common stock	$	26,602		$	109,754		$	(83,152	)	$	494,086		$	145,558		$	172,875
Net income per common share - basic	$	0.03		$	0.11		$	(0.08	)	$	0.48		$	0.14		$	0.21
Net income per common share - diluted	$	0.03		$	0.11		$	(0.08	)	$	0.48		$	0.14		$	0.21

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table C - Consolidated Statement of Condition
(Unaudited)
										$ Variance
	September 30,			June 30,			September 30,			Q3 2011 vs.
(In thousands)	2011			2011			2010			Q2 2011
Assets:
Cash and due from banks	$	567,141		$	587,965		$	580,811		$	(20,824	)
Money market investments		1,269,139			1,383,892			2,023,949			(114,753	)
Trading account securities, at fair value		272,939			785,842			483,192			(512,903	)
Investment securities available-for-sale, at fair value		5,226,529			5,389,491			5,741,483			(162,962	)
Investment securities held-to-maturity, at amortized cost		128,546			129,910			214,152			(1,364	)
Other investment securities, at lower of cost or realizable value		173,569			174,560			158,309			(991	)
Loans held-for-sale, at lower of cost or fair value		368,777			509,046			115,088			(140,269	)
Loans held-in-portfolio:
Loans not covered under loss sharing agreements with the FDIC		20,673,886			20,657,694			22,141,427			16,192
Loans covered under loss sharing agreements with the FDIC		4,512,423			4,616,575			4,953,195			(104,152	)
Less - Allowance for loan losses		(772,921	)		(746,847	)		(1,243,994	)		(26,074	)
Total loans held-in-portfolio, net		24,413,388			24,527,422			25,850,628			(114,034	)
FDIC loss share asset		1,798,339			2,350,176			2,324,978			(551,837	)
Premises and equipment, net		536,529			537,870			531,849			(1,341	)
Other real estate not covered under loss sharing agreements with the FDIC		175,785			162,419			168,823			13,366
Other real estate covered under loss sharing agreements with the FDIC		75,339			74,803			56,368			536
Accrued income receivable		134,263			141,980			160,167			(7,717	)
Mortgage servicing assets, at fair value		157,226			162,619			165,947			(5,393	)
Other assets		2,168,529			1,393,843			1,443,158			774,686
Goodwill		648,353			647,318			645,944			1,035
Other intangible assets		64,212			54,186			60,438			10,026
Total assets	$	38,178,603		$	39,013,342		$	40,725,284		$	(834,739	)
Liabilities and Stockholders’ Equity:
Liabilities:
Deposits:
Non-interest bearing	$	5,527,450		$	5,364,004		$	5,371,439		$	163,446
Interest bearing		22,425,890			22,596,425			22,368,605			(170,535	)
Total deposits		27,953,340			27,960,429			27,740,044			(7,089	)
Federal funds purchased and assets sold under agreements to repurchase		2,601,606			2,570,322			2,358,139			31,284
Other short-term borrowings		166,200			151,302			191,342			14,898
Notes payable		2,550,745			3,423,286			5,145,152			(872,541	)
Other liabilities		894,111			943,935			1,170,476			(49,824	)
Total liabilities		34,166,002			35,049,274			36,605,153			(883,272	)
Stockholders’ equity:
Preferred stock		50,160			50,160			50,160			-
Common stock		10,249			10,242			10,229			7
Surplus		4,099,379			4,097,909			4,094,302			1,470
Accumulated deficit		(201,770	)		(228,372	)		(119,877	)		26,602
Treasury stock		(992	)		(642	)		(545	)		(350	)
Accumulated other comprehensive income		55,575			34,771			85,862			20,804
Total stockholders’ equity		4,012,601			3,964,068			4,120,131			48,533
Total liabilities and stockholders’ equity	$	38,178,603		$	39,013,342		$	40,725,284		$	(834,739	)

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table D - Consolidated Average Balances and Yield / Rate Analysis - QUARTER
(Unaudited)
Quarter	Quarter ended							Quarter ended							Quarter ended							Variance							Variance
($ amounts in millions;	September 30, 2011							June 30, 2011							September 30, 2010							Q3 2011 vs Q2 2011							Q3 2011 vs Q3 2010
yields not on a taxable	Average			Income /		Yield /		Average			Income /		Yield /		Average			Income /		Yield /		Average		Income /		Yield /			Average			Income /			Yield /
equivalent basis)	balance			Expense		Rate		balance			Expense		Rate		balance			Expense		Rate		balance		Expense		Rate			balance			Expense			Rate
Assets:
Interest earning assets:
Money market, trading and investment securities	$	7,540		$	62.8	3.32	%	$	7,617		$	64.4	3.39	%	$	8,199		$	65.8	3.21	%	($77	)	($1.6	)	(0.07	)	%		($659	)		($3.0	)	0.11		%
Loans not covered under loss sharing agreements with the FDIC:
Commercial		10,690			134.1	4.98			11,023			137.2	4.99			11,554			150.9	5.18		(333	)	(3.1	)	(0.01	)			(864	)		(16.8	)	(0.20	)
Construction		698			2.5	1.45			804			2.7	1.34			1,401			6.2	1.75		(106	)	(0.2	)	0.11				(703	)		(3.7	)	(0.30	)
Mortgage		5,326			78.7	5.91			5,124			81.5	6.36			4,627			68.8	5.94		202		(2.8	)	(0.45	)			699			9.9		(0.03	)
Consumer		3,656			95.1	10.32			3,610			92.3	10.26			3,814			100.4	10.45		46		2.8		0.06				(158	)		(5.3	)	(0.13	)
Lease financing		572			12.8	8.93			583			12.9	8.85			618			13.5	8.74		(11	)	(0.1	)	0.08				(46	)		(0.7	)	0.19
Total loans not covered under loss sharing agreements with the FDIC		20,942			323.2	6.14			21,144			326.6	6.19			22,014			339.8	6.14		(202	)	(3.4	)	(0.05	)			(1,072	)		(16.6	)	-
Loans covered under loss sharing agreements with the FDIC		4,557			105.8	9.23			4,686			115.9	9.91			5,027			115.8	9.15		(129	)	(10.1	)	(0.68	)			(470	)		(10.0	)	0.08
Total loans		25,499			429.0	6.69			25,830			442.5	6.87			27,041			455.6	6.70		(331	)	(13.5	)	(0.18	)			(1,542	)		(26.6	)	(0.01	)
Total interest earning assets		33,039		$	491.8	5.92	%		33,447		$	506.9	6.07	%		35,240		$	521.4	5.89	%	(408	)	($15.1	)	(0.15	)	%		(2,201	)		($29.6	)	0.03		%
Allowance for loan losses		(749	)						(713	)						(1,255	)					(36	)							506
Other non-interest earning assets		5,609							5,953							6,200						(344	)							(591	)
Total average assets	$	37,899						$	38,687						$	40,185						($788	)							($2,286	)
Liabilities and Stockholders' equity:
Interest bearing deposits:
NOW and money market	$	5,284		$	7.3	0.55	%	$	5,353		$	8.4	0.63	%	$	4,986		$	10.0	0.80	%	($69	)	($1.1	)	(0.08	)	%	$	298			($2.7	)	(0.25	)	%
Savings		6,307			8.6	0.54			6,257			10.0	0.64			6,139			14.3	0.92		50		(1.4	)	(0.10	)			168			(5.7	)	(0.38	)
Time deposits		10,876			50.0	1.82			10,990			52.3	1.91			11,077			62.0	2.22		(114	)	(2.3	)	(0.09	)			(201	)		(12.0	)	(0.40	)
Total interest bearing deposits		22,467			65.9	1.16			22,600			70.7	1.25			22,202			86.3	1.54		(133	)	(4.8	)	(0.09	)			265			(20.4	)	(0.38	)
Borrowings		5,675			56.6	3.98			6,486			61.7	3.81			8,728			78.3	3.58		(811	)	(5.1	)	0.17				(3,053	)		(21.7	)	0.40
Total interest bearing liabilities		28,142			122.5	1.73			29,086			132.4	1.82			30,930			164.6	2.12		(944	)	(9.9	)	(0.09	)			(2,788	)		(42.1	)	(0.39	)
Net interest spread						4.19	%						4.25	%						3.77	%					(0.06	)	%							0.42		%
Non-interest bearing deposits		5,095							5,044							4,908						51								187
Other liabilities		861							845							854						16								7
Stockholders' equity		3,801							3,712							3,493						89								308
Total average liabilities and stockholders' equity	$	37,899						$	38,687						$	40,185						($788	)							($2,286	)
Net interest income / margin non-taxable equivalent basis				$	369.3	4.45	%				$	374.5	4.48	%				$	356.8	4.03	%			($5.2	)	(0.03	)	%				$	12.5		0.42		%

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table E - Consolidated Average Balances and Yield / Rate Analysis - YEAR-TO-DATE
(Unaudited)
Year-to-date	Nine months ended							Nine months ended							Variance
($ amounts in millions;	September 30, 2011							September 30, 2010							YTD 2011 vs. 2010
yields not on a taxable	Average			Income /		Yield /		Average			Income /		Yield /		Average			Income /			Yield /
equivalent basis)	balance			Expense		Rate		balance			Expense		Rate		balance			Expense			Rate
Assets:
Interest earning assets:
Money market, trading and investment securities	$	7,542		$	189.3	3.35	%	$	8,561		$	209.7	3.27	%		($1,019	)		($20.4	)	0.08		%
Loans not covered under loss sharing agreements with the FDIC:
Commercial		10,987			410.5	4.99			12,009			466.8	5.20			(1,022	)		(56.3	)	(0.21	)
Construction		788			8.5	1.45			1,542			23.3	2.02			(754	)		(14.8	)	(0.57	)
Mortgage		5,070			231.5	6.09			4,588			204.4	5.94			482			27.1		0.15
Consumer		3,645			281.1	10.31			3,898			302.7	10.39			(253	)		(21.6	)	(0.08	)
Lease financing		582			39.0	8.93			638			41.7	8.71			(56	)		(2.7	)	0.22
Total loans not covered under loss sharing agreements with the FDIC		21,072			970.6	6.15			22,675			1,038.9	6.12			(1,603	)		(68.3	)	0.03
Loans covered under loss sharing agreements with the FDIC		4,685			324.2	9.25			2,823			192.4	9.11			1,862			131.8		0.14
Total loans		25,757			1,294.8	6.72			25,498			1,231.3	6.45			259			63.5		0.27
Total interest earning assets		33,299		$	1,484.1	5.95	%		34,059		$	1,441.0	5.65	%		(760	)	$	43.1		0.30		%
Allowance for loan losses		(744	)						(1,253	)						509
Other non-interest earning assets		5,863							5,170							693
Total average assets	$	38,418						$	37,976						$	442
Liabilities and Stockholders' equity:
Interest bearing deposits:
NOW and money market	$	5,206		$	24.6	0.63	%	$	4,998		$	30.6	0.82	%	$	208			($6.0	)	(0.19	)	%
Savings		6,269			31.1	0.66			5,881			40.3	0.92			388			(9.2	)	(0.26	)
Time deposits		10,999			157.7	1.92			10,967			199.0	2.43			32			(41.3	)	(0.51	)
Total interest bearing deposits		22,474			213.4	1.27			21,846			269.9	1.65			628			(56.5	)	(0.38	)
Borrowings		6,299			183.5	3.89			7,523			230.8	4.09			(1,224	)		(47.3	)	(0.20	)
Total interest bearing liabilities		28,773			396.9	1.84			29,369			500.7	2.28			(596	)		(103.8	)	(0.44	)
Net interest spread						4.11	%						3.37	%							0.74		%
Non-interest bearing deposits		5,022							4,638							384
Other liabilities		919							920							(1	)
Stockholders' equity		3,704							3,049							655
Total average liabilities and stockholders' equity	$	38,418						$	37,976						$	442
Net interest income / margin non-taxable equivalent basis				$	1,087.2	4.36	%				$	940.3	3.69	%				$	146.9		0.67		%

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table F - Breakdown of Other Service Fees
(Unaudited)
	Quarters ended							Variance			Variance
	September 30,		June 30,		September 30,			3Q 2011 vs.			Q3 2011 vs.
(In thousands)	2011		2011		2010			2Q 2011			Q3 2010
Other service fees:
Debit card fees	$	13,075	$	13,795	$	27,711		$	(720	)	$	(14,636	)
Insurance fees		13,785		12,208		11,855			1,577			1,930
Credit card fees and discounts		13,738		11,792		24,382			1,946			(10,644	)
Sale and administration of investment products		9,915		7,657		11,379			2,258			(1,464	)
Mortgage servicing fees, net of fair value adjustments		2,120		2,269		1,306			(149	)		814
Trust fees		4,006		4,110		3,534			(104	)		472
Processing fees		1,684		1,740		15,258			(56	)		(13,574	)
Other fees		4,341		4,736		5,397			(395	)		(1,056	)
Total other service fees	$	62,664	$	58,307	$	100,822		$	4,357		$	(38,158	)
	Nine months ended
	September 30,		September 30,		Variance
(In thousands)	2011		2010		2011 vs. 2010
Other service fees:
Debit card fees	$	39,795	$	83,480	$	(43,685	)
Insurance fees		37,919		34,929		2,990
Credit card fees and discounts		36,106		73,692		(37,586	)
Sale and administration of investment products		24,702		28,791		(4,089	)
Mortgage servicing fees, net of fair value adjustments		10,649		15,487		(4,838	)
Trust fees		11,611		10,168		1,443
Processing fees		5,121		43,390		(38,269	)
Other fees		13,720		15,930		(2,210	)
Total other service fees	$	179,623	$	305,867	$	(126,244	)

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table G - Loans and Deposits
(Unaudited)
Loans - Ending Balances
							Variance
(in thousands)	September 30, 2011		June 30, 2011		September 30, 2010		Q3 2011 vs. Q2 2011			Q3 2011 vs. Q3 2010
Loans not covered under FDIC loss sharing agreements:
Commercial	$	10,588,919	$	10,736,333	$	11,719,127	$	(147,414	)	$	(1,130,208	)
Construction		358,060		393,759		1,299,929		(35,699	)		(941,869	)
Lease financing		571,068		586,056		613,560		(14,988	)		(42,492	)
Mortgage		5,466,503		5,347,512		4,750,068		118,991			716,435
Consumer		3,689,336		3,594,034		3,758,743		95,302			(69,407	)
Total non-covered loans held-in-portfolio	$	20,673,886	$	20,657,694	$	22,141,427	$	16,192		$	(1,467,541	)
Loans covered under FDIC loss sharing agreements		4,512,423		4,616,575		4,953,195		(104,152	)		(440,772	)
Total loans held-in-portfolio	$	25,186,309	$	25,274,269	$	27,094,622	$	(87,960	)		(1,908,313	)
Loans held-for-sale:
Commercial	$	24,191	$	57,998	$	5,409	$	(33,807	)	$	18,782
Construction		234,336		340,687		540		(106,351	)		233,796
Mortgage		110,250		110,361		109,139		(111	)		1,111
Total loans held-for-sale		368,777		509,046		115,088		(140,269	)		253,689
Total loans	$	25,555,086	$	25,783,315	$	27,209,710	$	(228,229	)	$	(1,654,624	)
Deposits - Ending Balances
							Variance
(In thousands)	September 30, 2011		June 30, 2011		September 30, 2010		Q3 2011 vs. Q2 2011			Q3 2011 vs. Q3 2010
Demand deposits [1]	$	6,149,514	$	6,285,171	$	6,023,732	$	(135,657	)	$	125,782
Savings, NOW and money market deposits (non-brokered)		10,787,782		10,724,099		10,328,457		63,683			459,325
Savings, NOW and money market deposits (brokered)		100,002		50,000		-		50,002			100,002
Time deposits (non-brokered)		8,005,247		8,179,689		8,873,350		(174,442	)		(868,103	)
Time deposits (brokered CDs)		2,910,795		2,721,470		2,514,505		189,325			396,290
Total deposits	$	27,953,340	$	27,960,429	$	27,740,044	$	(7,089	)	$	213,296
[1] Includes interest and non-interest bearing deposits.

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table H - Non-Performing Assets
(Unaudited)
																Variance
(Dollars in thousands)	September 30, 2011			As a percentage of loans HIP by category		June 30, 2011			As a percentage of loans HIP by category		September 30, 2010			As a percentage of loans HIP by category		Q3 2011 vs. Q2 2011			Q3 2011 vs. Q3 2010
Commercial	$	872,581		8.2	%	$	784,587		7.3	%	$	784,304		6.7	%	$	87,994		$	88,277
Construction		187,914		52.5			198,235		50.3			818,186		62.9			(10,321	)		(630,272	)
Lease financing		4,194		0.7			4,457		0.8			6,478		1.1			(263	)		(2,284	)
Mortgage		617,723		11.3			587,987		11.0			669,175		14.1			29,736			(51,452	)
Consumer		49,259		1.3			49,424		1.4			65,906		1.8			(165	)		(16,647	)
Total non-performing loans held-in-portfolio, excluding covered loans		1,731,671		8.4	%		1,624,690		7.9	%		2,344,049		10.6	%		106,981			(612,378	)
Non-performing loans held-for-sale [1]		259,776					399,869					-					(140,093	)		259,776
Other real estate owned (“OREO”), excluding covered OREO		175,785					162,419					168,823					13,366			6,962
Total non-performing assets, excluding covered assets		2,167,232					2,186,978					2,512,872					(19,746	)		(345,640	)
Covered loans and OREO		86,301					89,782					110,047					(3,481	)		(23,746	)
Total non-performing assets	$	2,253,533				$	2,276,760				$	2,622,919				$	(23,227	)	$	(369,386	)
Ratios excluding covered loans:
Non-performing loans held-in-portfolio to loans held-in-portfolio		8.38	%				7.86	%				10.59	%
Allowance for loan losses to loans held-in-portfolio		3.35					3.34					5.62
Allowance for loan losses to non-performing loans, excluding held-for-sale		39.99					42.45					53.07
Ratios including covered loans:
Non-performing loans held-in-portfolio to loans held-in-portfolio		6.92	%				6.49	%				8.85	%
Allowance for loan losses to loans held-in-portfolio		3.07					2.95					4.59
Allowance for loan losses to non-performing loans, excluding held-for-sale		44.35					45.55					51.88
[1] Non-performing loans held-for-sale as of September 30, 2011 consisted of $234 million in construction loans, $24 million in commercial loans and $1 million in mortgage loans.

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table I - Activity in Non-performing Loans
(Unaudited)
Commercial loans held-in-portfolio:
	Quarter ended			Quarter ended			Quarter ended
	September 30, 2011			September 30, 2011			September 30, 2011
(In thousands)	BPPR			BPNA			Popular, Inc.
Beginning Balance NPLs - June 30, 2011	$	557,421		$	227,166		$	784,587
Plus:
New non-performing loans		197,365			68,810			266,175
Advances on existing non-performing loans		10,037			226			10,263
Less:
Non-performing loans transferred to OREO		(2,171	)		(4,604	)		(6,775	)
Non-performing loans charged-off		(58,510	)		(36,055	)		(94,565	)
Loans returned to accrual status / loan collections		(51,205	)		(35,899	)		(87,104	)
Ending balance NPLs - September 30, 2011	$	652,937		$	219,644		$	872,581
Construction loans held-in-portfolio:
	Quarter ended			Quarter ended			Quarter ended
	September 30, 2011			September 30, 2011			September 30, 2011
(In thousands)	BPPR			BPNA			Popular, Inc.
Beginning Balance NPLs - June 30, 2011	$	58,691		$	139,544		$	198,235
Plus:
New non-performing loans		14,324			7,829			22,153
Advances on existing non-performing loans		48			101			149
Less:
Non-performing loans transferred to OREO		-			(2,824	)		(2,824	)
Non-performing loans charged-off		(563	)		(8,554	)		(9,117	)
Loans returned to accrual status / loan collections		(7,529	)		(13,153	)		(20,682	)
Ending balance NPLs - September 30, 2011	$	64,971		$	122,943		$	187,914
Commercial loans held-in-portfolio:
	Quarter ended			Quarter ended			Quarter ended
	June 30, 2011			June 30, 2011			June 30, 2011
(In thousands)	BPPR			BPNA			Popular, Inc.
Beginning Balance NPLs - March 31, 2011	$	526,930		$	225,408		$	752,338
Plus:
New non-performing loans		111,545			75,263			186,808
Advances on existing non-performing loans		-			-			-
Less:
Non-performing loans transferred to OREO		(2,403	)		(6,958	)		(9,361	)
Non-performing loans charged-off		(41,532	)		(32,005	)		(73,537	)
Loans returned to accrual status / loan collections		(37,119	)		(34,542	)		(71,661	)
Ending balance NPLs - June 30, 2011	$	557,421		$	227,166		$	784,587
Construction loans held-in-portfolio:
	Quarter ended			Quarter ended			Quarter ended
	June 30, 2011			June 30, 2011			June 30, 2011
(In thousands)	BPPR			BPNA			Popular, Inc.
Beginning Balance NPLs - March 31, 2011	$	57,176		$	166,983		$	224,159
Plus:
New non-performing loans		4,779			3,499			8,278
Advances on existing non-performing loans		3,157			-			3,157
Less:
Non-performing loans transferred to OREO		(3,780	)		(45	)		(3,825	)
Non-performing loans charged-off		(275	)		(6,441	)		(6,716	)
Loans returned to accrual status / loan collections		(2,366	)		(24,452	)		(26,818	)
Ending balance NPLs - June 30, 2011	$	58,691		$	139,544		$	198,235

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table J - Allowance for Credit Losses, Net Charge-offs and Related Ratios
(Unaudited)
	Quarter ended									Quarter ended								Quarter ended
	September 30,									June 30,								September 30,
(Dollars in thousands)	2011			2011			2011			2011			2011		2011			2010
	Non-covered loans			Covered loans			Total			Non-covered loans			Covered loans		Total			Total [1]
Balance at beginning of period	$	689,678		$	57,169		$	746,847		$	727,346		$	9,159	$	736,505		$	1,277,016
Provision for loan losses		150,703			25,573			176,276			95,712			48,605		144,317			215,013
		840,381			82,742			923,123			823,058			57,764		880,822			1,492,029
Net loans charged-off (recovered):
Commercial BPPR		58,509			1,278			59,787			49,923			263		50,186			57,248
Commercial BPNA		22,892			-			22,892			32,005			-		32,005			43,047
Construction BPPR		(81	)		(1,500	)		(1,581	)		(5,944	)		-		(5,944	)		54,567
Construction BPNA		3,664			-			3,664			4,588			-		4,588			15,879
Lease financing BPPR		401			-			401			632			-		632			990
Lease financing BPNA		25			-			25			125			-		125			989
Mortgage BPPR		7,560			65			7,625			7,151			-		7,151			5,102
Mortgage BPNA		6,086			-			6,086			4,030			-		4,030			17,388
Consumer BPPR		23,278			2,478			25,756			27,363			332		27,695			34,058
Consumer BPNA		12,841			-			12,841			13,507			-		13,507			18,767
		135,175			2,321			137,496			133,380			595		133,975			248,035
Write-down related to loans transferred to loans held-for-sale		12,706			-			12,706			-			-		-			-
Balance at end of period	$	692,500		$	80,421		$	772,921		$	689,678		$	57,169	$	746,847		$	1,243,994
Ratios:
Annualized net charge-offs to average loans held-in-portfolio		2.64	%					2.20	%		2.59	%				2.12	%		3.68	%
Provision for loan losses to net charge-offs		1.11	x					1.28	x		0.72	x				1.08	x		0.87	x
[1] There was no allowance for loan losses on covered loans as of September 30, 2010. The ratio of annualized net charge-offs to average loans held-in-portfolio, excluding covered loans, was 4.52% for the quarter ended September 30, 2010.
	Nine months ended									Nine months ended
	September 30,									September 30,
(Dollars in thousands)	2011			2011			2011			2010
	Non-covered loans			Covered loans			Total			Total [1]
Balance at beginning of period	$	793,225		$	-		$	793,225		$	1,261,204
Provision for loan losses		306,177			89,735			395,912			657,471
		1,099,402			89,735			1,189,137			1,918,675
Net loans charged-off (recovered):
Commercial BPPR		146,960			3,248			150,208			121,785
Commercial BPNA		88,195			-			88,195			128,765
Construction BPPR		1,996			2,845			4,841			112,701
Construction BPNA		13,399			-			13,399			62,739
Lease financing BPPR		2,211			-			2,211			5,363
Lease financing BPNA		203			-			203			3,641
Mortgage BPPR		22,388			65			22,453			14,543
Mortgage BPNA		10,686			-			10,686			61,471
Consumer BPPR		79,055			3,156			82,211			100,026
Consumer BPNA		42,910			-			42,910			63,647
		408,003			9,314			417,317			674,681
Recovery related to loans transferred to loans held-for-sale		(1,101	)		-			(1,101	)		-
Balance at end of period	$	692,500		$	80,421		$	772,921		$	1,243,994
Ratios:
Annualized net charge-offs to average loans held-in-portfolio		2.65	%					2.21	%		3.54	%
Provision for loan losses to net charge-offs		0.75	x					0.95	x		0.97	x
[1] There was no allowance for loan losses on covered loans as of September 30, 2010. The ratio of annualized net charge-offs to average loans held-in-portfolio, excluding covered loans, was 3.98% for the nine months ended September 30, 2010.

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table K - Allowance for Loan Losses - Breakdown of general and specific reserves - CONSOLIDATED
(Unaudited)
September 30, 2011
(Dollars in thousands)		Commercial			Construction			Lease Financing			Mortgage			Consumer			Total		[2]
Specific ALLL		$	21,240		$	1,335		$	46		$	28,192		$	7,665		$	58,478
Impaired loans	[1]	$	519,827		$	180,694		$	6,568		$	313,951		$	147,053		$	1,168,093
Specific ALLL to impaired loans	[1]		4.09	%		0.74	%		0.70	%		8.98	%		5.21	%		5.01	%
General ALLL		$	383,907		$	13,900		$	4,703		$	67,689		$	163,823		$	634,022
Loans held-in-portfolio, excluding impaired loans	[1]	$	10,069,092		$	177,366		$	564,500		$	5,152,552		$	3,542,283		$	19,505,793
General ALLL to loans held-in-portfolio, excluding impaired loans	[1]		3.81	%		7.84	%		0.83	%		1.31	%		4.62	%		3.25	%
Total ALLL		$	405,147		$	15,235		$	4,749		$	95,881		$	171,488		$	692,500
Total non-covered loans held-in-portfolio	[1]	$	10,588,919		$	358,060		$	571,068		$	5,466,503		$	3,689,336		$	20,673,886
ALLL to loans held-in-portfolio	[1]		3.83	%		4.25	%		0.83	%		1.75	%		4.65	%		3.35	%
[1] Excludes covered loans acquired on the Westernbank FDIC-assisted transaction.
[2] Excludes covered loans acquired on the Westernbank FDIC-assisted transaction. As of September 30, 2011, the general allowance on the covered loans amounted to $79 million while the specific reserve amounted to $1 million.
June 30, 2011
(Dollars in thousands)		Commercial			Construction			Lease Financing			Mortgage			Consumer			Total		[2]
Specific ALLL		$	7,755		$	386		$	-		$	11,665		$	-		$	19,806
Impaired loans	[1]	$	486,007		$	199,919		$	-		$	205,753		$	-		$	891,679
Specific ALLL to impaired loans	[1]		1.60	%		0.19	%		-	%		5.67	%		-	%		2.22	%
General ALLL		$	404,010		$	19,399		$	5,770		$	66,307		$	174,386		$	669,872
Loans held-in-portfolio, excluding impaired loans	[1]	$	10,250,326		$	193,840		$	586,056		$	5,141,759		$	3,594,034		$	19,766,015
General ALLL to loans held-in-portfolio, excluding impaired loans	[1]		3.94	%		10.01	%		0.98	%		1.29	%		4.85	%		3.39	%
Total ALLL		$	411,765		$	19,785		$	5,770		$	77,972		$	174,386		$	689,678
Total non-covered loans held-in-portfolio	[1]	$	10,736,333		$	393,759		$	586,056		$	5,347,512		$	3,594,034		$	20,657,694
ALLL to loans held-in-portfolio	[1]		3.84	%		5.02	%		0.98	%		1.46	%		4.85	%		3.34	%
[1] Excludes covered loans acquired on the Westernbank FDIC-assisted transaction.
[2] Excludes covered loans acquired on the Westernbank FDIC-assisted transaction. As of June 30, 2011, the general allowance on the covered loans amounted to $56 million while the specific reserve amounted to $1 million.
Variance September 30, 2011 versus June 30, 2011
(Dollars in thousands)		Commercial			Construction			Lease Financing			Mortgage			Consumer			Total
Specific ALLL		$	13,485		$	949		$	46		$	16,527		$	7,665		$	38,672
Impaired loans		$	33,820		$	(19,225	)	$	6,568		$	108,198		$	147,053		$	276,414
General ALLL		$	(20,103	)	$	(5,499	)	$	(1,067	)	$	1,382		$	(10,563	)	$	(35,850	)
Loans held-in-portfolio, excluding impaired loans		$	(181,234	)	$	(16,474	)	$	(21,556	)	$	10,793		$	(51,751	)	$	(260,222	)
Total ALLL		$	(6,618	)	$	(4,550	)	$	(1,021	)	$	17,909		$	(2,898	)	$	2,822
Total non-covered loans held-in-portfolio		$	(147,414	)	$	(35,699	)	$	(14,988	)	$	118,991		$	95,302		$	16,192
September 30, 2010
(Dollars in thousands)		Commercial			Construction			Lease Financing			Mortgage			Consumer			Total		[2]
Specific ALLL		$	107,318		$	182,134		$	-		$	62,039		$	-		$	351,491
Impaired loans	[1]	$	621,557		$	794,716		$	-		$	309,840		$	-		$	1,726,113
Specific ALLL to impaired loans	[1]		17.27	%		22.92	%		-	%		20.02	%		-	%		20.36	%
General ALLL		$	405,053		$	125,454		$	14,302		$	112,641		$	235,053		$	892,503
Loans held-in-portfolio, excluding impaired loans	[1]	$	11,097,570		$	505,213		$	613,560		$	4,440,228		$	3,758,743		$	20,415,314
General ALLL to loans held-in-portfolio, excluding impaired loans	[1]		3.65	%		24.83	%		2.33	%		2.54	%		6.25	%		4.37	%
Total ALLL		$	512,371		$	307,588		$	14,302		$	174,680		$	235,053		$	1,243,994
Total non-covered loans held-in-portfolio	[1]	$	11,719,127		$	1,299,929		$	613,560		$	4,750,068		$	3,758,743		$	22,141,427
ALLL to loans held-in-portfolio	[1]		4.37	%		23.66	%		2.33	%		3.68	%		6.25	%		5.62	%
[1] Excludes covered loans acquired on the Westernbank FDIC-assisted transaction.
[2] Excludes covered loans acquired on the Westernbank FDIC-assisted transaction. As of September 30, 2010, there was no allowance on these covered loans.

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table L - Allowance for Loan Losses - Breakdown of general and specific reserves - PUERTO RICO OPERATIONS
(Unaudited)
As of September 30, 2011
Puerto Rico
(In thousands)	Commercial			Construction			Mortgage			Lease financing			Consumer			Total
Allowance for credit losses:
Specific ALLL non-covered loans	$	20,941		$	569		$	16,682		$	46		$	7,546		$	45,784
General ALLL non-covered loans		224,807			4,438			48,747			3,858			115,954			397,804
ALLL - non-covered loans		245,748			5,007			65,429			3,904			123,500			443,588
Specific ALLL covered loans		1,634			-			-			-			-			1,634
General ALLL covered loans		61,840			9,926			2,296			-			4,725			78,787
ALLL - covered loans		63,474			9,926			2,296			-			4,725			80,421
Total ALLL	$	309,222		$	14,933		$	67,725		$	3,904		$	128,225		$	524,009
Loans held-in-portfolio:
Impaired non-covered loans	$	378,180		$	61,750		$	282,402		$	6,568		$	142,438		$	871,338
Non covered loans held-in-portfolio, excluding impaired loans		6,035,309			102,164			4,350,938			546,557			2,822,057			13,857,025
Non-covered loans held-in-portfolio		6,413,489			163,914			4,633,340			553,125			2,964,495			14,728,363
Impaired covered loans		2,675			-			-			-			-			2,675
Covered loans held-in-portfolio, excluding impaired loans		2,571,401			599,990			1,217,434			-			120,923			4,509,748
Covered loans held-in-portfolio		2,574,076			599,990			1,217,434			-			120,923			4,512,423
Total loans held-in-portfolio	$	8,987,565		$	763,904		$	5,850,774		$	553,125		$	3,085,418		$	19,240,786
As of June 30, 2011
Puerto Rico
(In thousands)	Commercial			Construction			Mortgage			Lease financing			Consumer			Total
Allowance for credit losses:
Specific ALLL non-covered loans	$	7,704		$	116		$	8,226		$	-		$	-		$	16,046
General ALLL non-covered loans		219,429			6,957			46,914			5,045			120,512			398,857
ALLL - non-covered loans		227,133			7,073			55,140			5,045			120,512			414,903
Specific ALLL covered loans		1,000			-			-			-			-			1,000
General ALLL covered loans		46,829			9,291			35			-			14			56,169
ALLL - covered loans		47,829			9,291			35			-			14			57,169
Total ALLL	$	274,962		$	16,364		$	55,175		$	5,045		$	120,526		$	472,072
Loans held-in-portfolio:
Impaired non-covered loans	$	346,893		$	65,885		$	195,650		$	-		$	-		$	608,428
Non covered loans held-in-portfolio, excluding impaired loans		6,056,048			96,156			4,305,288			564,289			2,846,428			13,868,209
Non-covered loans held-in-portfolio		6,402,941			162,041			4,500,938			564,289			2,846,428			14,476,637
Impaired covered loans		3,626			-			-			-			-			3,626
Covered loans held-in-portfolio, excluding impaired loans		2,592,139			645,160			1,238,228			-			137,422			4,612,949
Covered loans held-in-portfolio		2,595,765			645,160			1,238,228			-			137,422			4,616,575
Total loans held-in-portfolio	$	8,998,706		$	807,201		$	5,739,166		$	564,289		$	2,983,850		$	19,093,212
Variance September 30, 2011 versus June 30, 2011
(In thousands)	Commercial			Construction			Mortgage			Lease financing			Consumer			Total
Allowance for credit losses:
Specific ALLL non-covered loans	$	13,237		$	453		$	8,456		$	46		$	7,546		$	29,738
General ALLL non-covered loans		5,378			(2,519	)		1,833			(1,187	)		(4,558	)		(1,053	)
ALLL - non-covered loans		18,615			(2,066	)		10,289			(1,141	)		2,988			28,685
Specific ALLL covered loans		634			-			-			-			-			634
General ALLL covered loans		15,011			635			2,261			-			4,711			22,618
ALLL - covered loans		15,645			635			2,261			-			4,711			23,252
Total ALLL	$	34,260		$	(1,431	)	$	12,550		$	(1,141	)	$	7,699		$	51,937
Loans held-in-portfolio:
Impaired non-covered loans	$	31,287		$	(4,135	)	$	86,752		$	6,568		$	142,438		$	262,910
Non covered loans held-in-portfolio, excluding impaired loans		(20,739	)		6,008			45,650			(17,732	)		(24,371	)		(11,184	)
Non-covered loans held-in-portfolio		10,548			1,873			132,402			(11,164	)		118,067			251,726
Impaired covered loans		(951	)		-			-			-			-			(951	)
Covered loans held-in-portfolio, excluding impaired loans		(20,738	)		(45,170	)		(20,794	)		-			(16,499	)		(103,201	)
Covered loans held-in-portfolio		(21,689	)		(45,170	)		(20,794	)		-			(16,499	)		(104,152	)
Total loans held-in-portfolio	$	(11,141	)	$	(43,297	)	$	111,608		$	(11,164	)	$	101,568		$	147,574

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table M - Allowance for Loan Losses - Breakdown of general and specific reserves - U.S. MAINLAND OPERATIONS
(Unaudited)
As of September 30, 2011
U.S. Mainland
(In thousands)	Commercial			Construction			Mortgage			Lease financing			Consumer			Total
Allowance for credit losses:
Specific ALLL	$	299		$	766		$	11,510		$	-		$	119		$	12,694
General ALLL		159,100			9,462			18,942			845			47,869			236,218
Total ALLL		159,399			10,228			30,452			845			47,988			248,912
Loans held-in-portfolio:
Impaired loans		141,647			118,944			31,549			-			4,615			296,755
Loans held-in-portfolio, excluding impaired loans		4,033,783			75,202			801,614			17,943			720,226			5,648,768
Total loans held-in-portfolio	$	4,175,430		$	194,146		$	833,163		$	17,943		$	724,841		$	5,945,523
As of June 30, 2011
U.S. Mainland
(In thousands)	Commercial			Construction			Mortgage			Lease financing			Consumer			Total
Allowance for credit losses:
Specific ALLL	$	51		$	270		$	3,439		$	-		$	-		$	3,760
General ALLL		184,581			12,442			19,393			725			53,874			271,015
Total ALLL		184,632			12,712			22,832			725			53,874			274,775
Loans held-in-portfolio:
Impaired loans		139,114			134,034			10,103			-			-			283,251
Loans held-in-portfolio, excluding impaired loans		4,194,278			97,684			836,471			21,767			747,606			5,897,806
Total loans held-in-portfolio	$	4,333,392		$	231,718		$	846,574		$	21,767		$	747,606		$	6,181,057
Variance September 30, 2011 versus June 30, 2011
(In thousands)	Commercial			Construction			Mortgage			Lease financing			Consumer			Total
Allowance for credit losses:
Specific ALLL	$	248		$	496		$	8,071		$	-		$	119		$	8,934
General ALLL		(25,481	)		(2,980	)		(451	)		120			(6,005	)		(34,797	)
Total ALLL		(25,233	)		(2,484	)		7,620			120			(5,886	)		(25,863	)
Loans held-in-portfolio:
Impaired loans		2,533			(15,090	)		21,446			-			4,615			13,504
Loans held-in-portfolio, excluding impaired loans		(160,495	)		(22,482	)		(34,857	)		(3,824	)		(27,380	)		(249,038	)
Total loans held-in-portfolio	$	(157,962	)	$	(37,572	)	$	(13,411	)	$	(3,824	)	$	(22,765	)	$	(235,534	)

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table N - Reconciliation to GAAP Financial Measures
(Unaudited)
(In thousands, except share or per share information)		September 30, 2011			June 30, 2011			September 30, 2010
Total stockholders’ equity		$	4,012,601		$	3,964,068		$	4,120,131
Less: Preferred stock			(50,160	)		(50,160	)		(50,160	)
Less: Goodwill			(648,353	)		(647,318	)		(645,944	)
Less: Other intangibles			(64,212	)		(54,186	)		(60,438	)
Total tangible common equity		$	3,249,876		$	3,212,404		$	3,363,589
Total assets		$	38,178,603		$	39,013,342		$	40,725,284
Less: Goodwill			(648,353	)		(647,318	)		(645,944	)
Less: Other intangibles			(64,212	)		(54,186	)		(60,438	)
Total tangible assets		$	37,466,038		$	38,311,838		$	40,018,902
Tangible common equity to tangible assets			8.67	%		8.38	%		8.41	%
Common shares outstanding at end of period			1,024,475,398			1,023,977,895			1,022,686,418
Tangible book value per common share		$	3.17		$	3.14		$	3.29
(In thousands)		September 30, 2011			June 30, 2011			September 30, 2010
Common stockholders’ equity		$	3,962,441		$	3,913,908		$	4,069,971
Less: Unrealized gains on available-for-sale securities, net of tax	[1]		(209,120	)		(188,171	)		(195,564	)
Less: Disallowed deferred tax assets	[2]		(222,601	)		(271,139	)		(220,683	)
Less: Intangible assets:
Goodwill			(648,353	)		(647,318	)		(645,944	)
Other disallowed intangibles			(31,272	)		(22,596	)		(30,045	)
Less: Aggregate adjusted carrying value of all non-financial equity investments			(1,525	)		(1,540	)		(1,590	)
Add: Pension liability adjustment, net of tax and accumulated net gains (losses) on cash flow hedges	[3]		125,004			125,605			74,301
Total Tier 1 common equity		$	2,974,574		$	2,908,749		$	3,050,446
[1] In accordance with regulatory risk-based capital guidelines, Tier 1 capital excludes net unrealized gains (losses) on available-for-sale debt securities and net unrealized gains on available-for-sale equity securities with readily determinable fair values. In arriving at Tier 1 capital, institutions are required to deduct net unrealized losses on available-for-sale equity securities with readily determinable fair values, net of tax.
[2] Approximately $126 million of the Corporation’s $342 million of net deferred tax assets at September 30, 2011 (June 30, 2011 - $96 million and $362 million, respectively; September 30, 2010 - $134 million and $330 million, respectively), were included without limitation in regulatory capital pursuant to the risk-based capital guidelines, while approximately $223 million of such assets at September 30, 2011 (June 30, 2011 - $271 million; September 30, 2010 - $221 million) exceeded the limitation imposed by these guidelines and, as “disallowed deferred tax assets”, were deducted in arriving at Tier 1 capital. The remaining $7 million of the Corporation’s other net deferred tax assets at September 30, 2011 (June 30, 2011 - $5 million; September 30, 2010 - $25 million) represented primarily the following items (a) the deferred tax effects of unrealized gains and losses on available-for-sale debt securities, which are permitted to be excluded prior to deriving the amount of net deferred tax assets subject to limitation under the guidelines; (b) the deferred tax asset corresponding to the pension liability adjustment recorded as part of accumulated other comprehensive income; and (c) the deferred tax liability associated with goodwill and other intangibles.
[3] The Federal Reserve Bank has granted interim capital relief for the impact of pension liability adjustment.

Popular, Inc.
Financial Supplement to Third Quarter 2011 Earnings Release
Table O - Financial Information - Westernbank Covered Loans
(Unaudited)
	Quarter ended
(In thousands)	September 30, 2011			June 30, 2011			Variance
Interest income:
Interest income on covered loans, except for discount accretion on ASC 310-20 covered loans	$	102,308		$	106,762		$	(4,454	)
Discount accretion on ASC 310-20 covered loans		3,501			9,135			(5,634	)
Total interest income		105,809			115,897			(10,088	)
FDIC loss share (expense) income:
(Amortization) accretion of indemnification asset		(22,167	)		6,661			(28,828	)
80% mirror accounting on discount accretion on ASC 310-20 loans		(2,801	)		(7,308	)		4,507
80% mirror accounting on provision for loan losses		20,458			38,884			(18,426	)
Other		(851	)		433			(1,284	)
Total FDIC loss share (expense) income		(5,361	)		38,670			(44,031	)
Fair value change in equity appreciation instrument		-			578			(578	)
Other non-interest income		(6	)		1,012			(1,018	)
Total revenues		100,442			156,157			(55,715	)
Provision for loan losses		25,573			48,605			(23,032	)
Total revenues less provision for loan losses	$	74,869		$	107,552		$	(32,683	)
Quarterly average assets:	Quarter ended
(In millions)	September 30, 2011			June 30, 2011			Variance
Covered loans	$	4,557		$	4,686		$	(129	)
FDIC loss share asset		1,896			2,327			(431	)
Note issued to the FDIC		1,057			1,859			(802	)
Activity in the carrying amount and accretable yield of covered loans accounted for under ASC 310-30
	Quarter						Quarter
	September 30, 2011						June 30, 2011
(In thousands)	Accretable yield			Carrying amount of loans			Accretable yield			Carrying amount of loans
Beginning balance	$	1,616,919		$	4,265,065		$	1,258,176		$	4,423,496
Accretion		(96,418	)		96,418			(100,185	)		100,185
Change in expected cash flows		(23,936	)					458,928
Collections					(243,678	)					(258,616	)
Ending balance		1,496,565			4,117,805			1,616,919			4,265,065
Allowance for loan losses - ASC 310-30 covered loans					(62,446	)					(48,257	)
Ending balance, net of allowance for loan losses	$	1,496,565		$	4,055,359		$	1,616,919		$	4,216,808

CONTACTS:
Popular, Inc.
Investor Relations:
Jorge A. Junquera, 787-754-1685
Chief Financial Officer
Senior Executive Vice President
or
Media Relations:
Teruca Rullán, 787-281-5170 or 917-679-3596/mobile
Senior Vice President
Corporate Communications