Segment reporting (Tables)

3 Months Ended

Mar. 31, 2024

Table Text Block

Results of Operations and Total Assets

2024

For the quarter ended March 31, 2024

Intersegment 

(In thousands)

BPPR

Popular U.S.

Eliminations

Net interest income

$

472,841

$

84,853

$

-

Provision for credit losses

 (benefit)

60,680

11,435

-

Non-interest income 

145,669

7,120

(56)

Amortization of intangibles

484

311

-

Depreciation expense

13,009

1,943

-

Other operating expenses

393,805

67,788

(56)

Income tax expense

29,206

3,456

-

Net income

$

121,326

$

7,040

$

-

Segment assets

$

57,250,662

$

13,686,037

$

(359,383)

For the quarter ended March 31, 2024

Reportable 

(In thousands)

Segments

Corporate

Eliminations

Total Popular, Inc.

Net interest income (expense)

$

557,694

$

(6,950)

$

-

$

550,744

Provision for credit losses

72,115

483

-

72,598

Non-interest income

152,733

11,722

(637)

163,818

Amortization of intangibles

795

-

-

795

Depreciation expense

14,952

409

-

15,361

Other operating expenses

461,537

6,611

(1,191)

466,957

Income tax expense

32,662

22,676

230

55,568

Net income (loss)

$

128,366

$

(25,407)

$

324

$

103,283

Segment assets

$

70,577,316

$

5,723,198

$

(5,363,575)

$

70,936,939

2023

For the quarter ended March 31, 2023

Intersegment 

(In thousands)

BPPR

 Popular U.S.

Eliminations

Net interest income

$

449,820

$

90,086

$

1

Provision for credit losses

45,708

2,065

-

Non-interest income 

147,471

6,384

(136)

Amortization of intangibles

484

311

-

Depreciation expense

11,669

1,814

-

Other operating expenses

363,715

63,317

(136)

Income tax expense

42,832

3,976

-

Net income

$

132,883

$

24,987

$

1

Segment assets

$

55,770,442

$

12,147,556

$

(541,534)

For the quarter ended March 31, 2023

Reportable 

(In thousands)

Segments

Corporate

Eliminations

Total Popular, Inc.

Net interest income (expense)

$

539,907

$

(8,251)

$

-

$

531,656

Provision for credit losses (benefit)

47,773

(136)

-

47,637

Non-interest income

153,719

9,714

(1,472)

161,961

Amortization of intangibles

795

-

-

795

Depreciation expense

13,483

359

-

13,842

Other operating expenses

426,896

230

(1,076)

426,050

Income tax expense (benefit)

46,808

(321)

(173)

46,314

Net income

$

157,871

$

1,331

$

(223)

$

158,979

Segment assets

$

67,376,464

$

5,803,751

$

(5,504,456)

$

67,675,759

Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area

Geographic Information 

Quarter ended

(In thousands)

March 31, 2024

March 31, 2023

Revenues:

[1]

 Puerto Rico 

$

565,744

$

547,903

 United States

126,741

125,045

 Other

22,077

20,669

Total consolidated revenues 

$

714,562

$

693,617

[1]

Total revenues include net interest income, service charges on deposit accounts, other service fees, mortgage banking activities, net gain,

including impairment on equity securities, net gain on trading account debt securities, adjustments to indemnity reserves on loans sold and

other operating income.

Selected Balance Sheet Information:

(In thousands)

March 31, 2024

December 31, 2023

Puerto Rico

Total assets

$

54,507,722

$

54,181,300

Loans

22,649,624

22,519,961

Deposits

51,350,879

51,282,007

United States

Total assets

$

15,186,839

$

15,343,156

Loans

11,931,955

12,006,012

Deposits

10,716,008

10,643,602

Other

Total assets

$

1,242,378

$

1,233,699

Loans

542,511

543,299

Deposits

[1]

1,741,897

1,692,634

[1]

Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.