8-K

 

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): December 22, 2011

Popular, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Puerto Rico	001-34084	66-0667416
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
209 Munoz Rivera Ave., Popular Center Building , Hato Rey , Puerto Rico		00918
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

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

Not Applicable
______________________________________________
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:

[  ]  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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 23, 2011, Popular, Inc. (the "Corporation") issued a news release announcing that, on December 22, 2011, Mr. Michael T. Masin had informed the Board of Directors of his decision to retire as a director of the Corporation, effective December 31, 2011. Mr. Masin's decision was based on his desire to devote greater time to other professional responsibilities and was not related to a disagreement with the Corporation over its operations, policies or practices.

A copy of the news release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

Exhibit 99.1 Press release dated December 23, 2011

SIGNATURES

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.
December 23, 2011	By:	/s/ Ileana Gonzalez
		Name: Ileana Gonzalez
		Title: Senior Vice President and Corporate Comptroller

Exhibit Index

Exhibit No.	Description
99.1	Exhibit 99.1 Press release dated December 23, 2011

EX-99.1

Media Relations:

Teruca Rullán
Senior Vice President
Corporate Communications
787-281-5170 or 917-679-3596 (cellular)

For immediate release:

Michael Masin to retire from Popular, Inc. Board of Directors

SAN JUAN, Puerto Rico, December 23, 2011 (BUSINESS WIRE) — Popular, Inc. (NASDAQ: BPOP) announced today that Michael T. Masin informed the Board of Directors on December 22, 2011 of his decision to retire as a director of the Corporation, effective December 31, 2011. Mr. Masin’s decision was based on his desire to devote greater time to other professional responsibilities and was not related to a disagreement with the Corporation over its operations, policies or practices.

Richard L. Carrion, Chairman of the Board and Chief Executive Officer of the Corporation stated, “Michael has been a valuable member of the Board and we are thankful for his service. We were fortunate to have Michael as a part of our team and wish him the best in his future endeavors.”

The Corporate Governance and Nominating Committee of the Board has commenced the process of identifying a new nominee to replace Mr. Masin. Mr. Masin has served on the Board since 2007 and is a member of the Corporation’s Compensation, Risk Management and Corporate Governance and Nominating committees.

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.

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