Trust preferred securities (Tables)

12 Months Ended

Dec. 31, 2023

Trust preferred securities [Abstract]

Schedule Of Financial Data Pertaining To Different Trusts [Table Text Block]

The following table presents financial data pertaining to the different trusts at December 31, 2023 and 2022.

(Dollars in thousands)

December 31, 2023 and 2022

Popular 

North America 

Popular 

Issuer

Capital Trust I

Capital Trust Il

Capital securities

$

91,651

$

101,023

Distribution rate

6.564

%

6.125

%

Common securities

$

2,835

$

3,125

Junior subordinated debentures aggregate liquidation amount

$

94,486

$

104,148

Stated maturity date

September 2034

December 2034

Reference notes

[1],[3],[5]

[2],[4],[5]

[1] Statutory business trust that is wholly-owned by PNA and indirectly wholly-owned by the Corporation.

[2] Statutory business trust that is wholly-owned by the Corporation.

[3] The obligation of PNA under the junior subordinated debenture and its guarantees of the capital securities under the trust is fully and unconditionally

guaranteed on a subordinated basis by the Corporation to the extent set forth in the guarantee agreement.

[4] These capital securities are fully and unconditionally guaranteed on a subordinated basis by the Corporation to the extent set forth in the guarantee

agreement.

[5] The Corporation has the right, subject to any required prior approval from the Federal Reserve, to redeem after certain dates or upon the

occurrence of certain events mentioned below, the junior subordinated debentures at a redemption price equal to 100% of the principal amount, plus

accrued and unpaid interest to the date of redemption. The maturity of the junior subordinated debentures may be shortened at the option of the

Corporation prior to their stated maturity dates (i) on or after the stated optional redemption dates stipulated in the agreements, in whole at any time or

in part from time to time, or (ii) in whole, but not in part, at any time within 90 days following the occurrence and during the continuation of a tax event,

an investment company event or a capital treatment event as set forth in the indentures relating to the capital securities, in each case subject to

regulatory approval.