BPOP

EX-99.1

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EX-99.1

BPOP-EX-99.1

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Exhibit 99.1

SAN JUAN, Puerto Rico – (BUSINESS WIRE) – Popular, Inc. (the “Corporation,” “Popular,” “we,” “us,” “our”) (NASDAQ:

BPOP)

Popular, Inc. Announces Second Quarter 2026 Financial Results

FINANCIAL HIGHLIGHTS

($ in millions, except per share information)

Quarters ended

30-Jun-26

31-Mar-26

Δ vs 31-Mar-26

30-Jun-25

Δ vs 30-Jun-25

EARNINGS

Net Income

$278

$246

$32

$210

$68

PER SHARE DATA

Basic EPS

$4.35

$3.78

$0.57

$3.09

$1.26

Diluted EPS

$4.35

$3.78

$0.57

$3.09

$1.26

Tangible Book Value / Share (non-GAAP)

$87.94

$84.98

$2.96

$75.41

$12.53

FINANCIAL CONDITION

Total Assets

$78,972

$76,131

$2,841

$76,065

$2,907

Loans Held in Portfolio

$39,750

$39,290

$460

$38,185

$1,565

Deposits

$70,233

$67,611

$2,622

$67,217

$3,016

Borrowings

$1,463

$1,120

$343

$1,414

$48

CREDIT QUALITY

Non-Performing Loans

$413

$458

$(45)

$312

$102

NPL Ratio

1.04%

1.17%

-13 bps

0.82%

22 bps

NCO Ratio

1.05%

0.61%

44 bps

0.45%

60 bps

ACL / Total Loans

1.97%

2.10%

-13 bps

2.02%

-5 bps

ACL / NPLs

190%

180%

10%

247%

(57)%

CAPITAL & LIQUIDITY

Common Equity Tier 1

16.08%

15.92%

16 bps

15.91%

17 bps

Tier 1 Risk-Based Capital

16.13%

15.98%

15 bps

15.96%

17 bps

Total Risk-Based Capital

17.85%

17.71%

14 bps

17.70%

15 bps

Tier 1 Leverage

8.57%

8.60%

-3 bps

8.51%

6 bps

Capital Returned to Shareholders

$174

$204

$(30)

$160

$14

FINANCIAL RATIOS

Net Interest Margin

3.66%

3.66%

0 bps

3.49%

17 bps

NIM (FTE)

4.17%

4.14%

3 bps

3.85%

32 bps

Total Deposit Costs

1.57%

1.56%

1 bps

1.78%

-21 bps

ROTCE (non-GAAP)

17.02%

15.46%

156 bps

13.26%

376 bps

ROA

1.41%

1.29%

12 bps

1.11%

30 bps

The financial information in this earnings release includes non-GAAP financial measures. These measures are intended to supplement, and

should not be considered a substitute for, GAAP results. See the "Non-GAAP Financial Measures" section for additional information; and

Table R - Reconciliation to GAAP Financial Measures. All financial information in this release, including the accompanying tables, is

unaudited.

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CEO COMMENTARY

Javier D. Ferrer, President and Chief Executive Officer, said:

"We are pleased to report another solid quarter. Net income reached $278 million, 13% higher than the first quarter of this

year and 32% higher than the same quarter a year ago. Our results reflect higher net interest income, solid fee generation,

continued balance sheet growth, and strong capital generation. Our ROTCE improved to 17% from 15.5% in the previous

quarter, as we remain focused on delivering sustainable, through-the-cycle shareholder returns."

"We continued to return capital to shareholders during the quarter, repurchasing $125 million of common stock, exhausting

our previous $500 million authorization, and paying our quarterly dividend of $0.75 per share. We also announced additional

capital actions, including a 20% increase in our quarterly dividend to $0.90 per share, subject to Board approval, and a new

$1.0 billion share repurchase authorization."

"At the same time, we continued to advance our strategic priorities – to be the number one bank for our customers, to be

simple and efficient, and to be a top-performing bank. It is most rewarding to see how the organization has embraced our

objectives. A growing number of initiatives are gaining traction simultaneously, and the pace of execution is accelerating."

"With the satisfaction of seeing Popular solid, united, and moving forward with a clear purpose and strategy, I'm announcing

my retirement, effective August 31, 2026. As I begin this next chapter, I look forward to focusing on my health and spending

meaningful time with my family and close friends."

"It has been an honor to serve Popular and work alongside a team so deeply committed to our clients, communities and

shareholders. I am especially grateful to our employees for their support, trust and dedication throughout my years at

Popular. I am proud of what we have accomplished together and the momentum it creates for Popular’s future. I also want to

thank Jorge for his partnership over the years. I know his leadership will guide Popular forward with strength, purpose and

care."

EARNINGS HIGHLIGHTS

Quarters ended

(Dollars in thousands)

30-Jun-26

31-Mar-26

Δ vs 31-Mar-26

30-Jun-25

Δ vs 30-Jun-25

Net interest income

$693,419

$670,180

$23,239

$631,549

$61,870

Provision for credit losses

65,873

75,886

(10,013)

48,941

16,932

Net interest income after provision for credit losses

627,546

594,294

33,252

582,608

44,938

Non-Interest Income

180,545

165,626

14,919

168,477

12,068

Operating expenses

484,130

467,310

16,820

492,761

(8,631)

Income before income tax

323,961

292,610

31,351

258,324

65,637

Income tax expense

45,747

46,936

(1,189)

47,884

(2,137)

Net income

$278,214

$245,674

$32,540

$210,440

$67

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Popular, Inc. Announces First Quarter 2026 Financial Results

•

Net income of $245.7 million in Q1 2026, compared to net income of $233.9 million in Q4 2025.

•

Compared to adjusted net income in Q4 2025 of $224.2 million, which excluded a $9.7 million, net of tax, partial reversal of the FDIC special assessment reserve, net income increased by $21.5 million when compared to Q4 2025.

•

Earnings per share (“EPS”) of $3.78 in Q1 2026 vs. $3.53 in Q4 2025.

•

Net interest income of $670.2 million in Q1 2026, an increase of $12.6 million compared to Q4 2025:

•

Net interest margin of 3.66% in Q1 2026, compared to 3.61% in Q4 2025; net interest margin on a taxable equivalent basis of 4.14% in Q1 2026, compared to 4.03% in Q4 2025.

•

Non-interest income of $165.6 million in Q1 2026, a decrease of

$0.7 million when compared to $166.3 million in Q4 2025.

•

Operating expenses of $467.3 million, a decrease of $5.9 million when compared to $473.2 million in Q4 2025.

•

Excluding the partial reversal of the FDIC special assessment reserve of $15.3 million in Q4 2025, operating expenses decreased by $21.2 million when compared to Q4 2025.

•

Credit quality metrics:

•

Non-performing loans held-in-portfolio (“NPLs”) decreased by $40.2 million from Q4 2025; NPLs to loans ratio decreased to 1.17% from 1.27% in Q4 2025.

•

Net charge-offs (“NCOs”) increased by $10.4 million from Q4 2025 to $60.0 million,

mainly due to a single $11.1 million commercial loan charge-off, previously placed in non-accrual in Q3 2025. Annualized NCOs to average loans held-in-portfolio at 0.61% vs. 0.51% in Q4 2025.

•

Allowance for credit losses (“ACL”) to loans held-in-portfolio at 2.10% vs. 2.05% in Q4 2025; and

•

ACL to NPLs at 179.8% vs. 162.2% in Q4 2025.

•

Loans held-in-portfolio,

excluding loans held-for-sale, amounted to $39.3 billion, a decrease of $37.8 million from Q4 2025; average quarterly loan balances, excluding loans held-for-sale, higher by $434.9 million.

•

Money market and investment securities increased by $803.7 million from Q4 2025 to $33.6 billion; average quarterly balances increased by $959.4 million.

•

Deposits at $67.6 billion, increasing by $1.4 billion from Q4 2025.

•

This includes an increase of $250.1 million in P.R. public deposits; excluding P.R. public deposits, total deposits increased by $1.2 billion; average quarterly deposits increased by $1.1 billion, including an increase of $711.0 million in P.R. public deposits.

•

Common Equity Tier 1 ratio of 15.92%, Common Equity per share of $97.27 and Tangible Book Value per share of $84.98 ($2.33 above Q4 2025).

•

Capital actions for the first quarter of 2026 included the repurchase of 1,155,398 shares of common stock for $155.2 million, at an average price of $134.31 per share, and the payment and declaration of a quarterly common stock dividend of $0.75 per share. As of March 31, 2026, a total of $126.0 million remained available for stock repurchases under our currently active authorization.

•

Return on average tangible common equity (“ROTCE”) of 15.46% in Q1 2026 vs. 14.39% in Q4 2025.

SAN JUAN, Puerto Rico – (BUSINESS WIRE) – Popular, Inc. (the “Corporation,” “Popular,” “we,” “us,” “our”) (NASDAQ:BPOP) reported net income of $245.7 million for the quarter ended March 31, 2026, compared to net income of $233.9 million for the quarter ended December 31, 2025.

“We delivered a strong start to 2026, with net income of $246 million and earnings per share of $3.78, up 38% and 48%, respectively, year-over-year, reflecting disciplined execution across our businesses and continued momentum throughout the franchise,” said Javier D. Ferrer, President and Chief Executive Officer of Popular, Inc. “Our results quarter-over-quarter were driven by higher net interest income, an expanding net interest margin and, importantly, lower operating expenses. We also returned $204 million to our shareholders through buybacks and dividends.”

“We continue to invest in our businesses and expand our operational capabilities in support of our strategic objectives. We know that when we deliver for our customers, our businesses thrive and our shareholders are rewarded.”

“The Puerto Rico and United States economies remained resilient, with healthy business performance and consumer activity. We remain attentive to the evolving geopolitical and macroeconomic landscape, focused on maintaining our disciplined approach and being a source of strength for those who depend on us.”

“Our diversified business model, combined with robust capital and liquidity levels, positions us well to support our customers and create long-term value for our shareholders.”

“We are pleased to have delivered a ROTCE of 15.5% this quarter, up from 14.4% in the fourth quarter of 2025 and from 11.4% in the same quarter a year ago. This is a meaningful step forward in our journey toward a sustainable, through-the-cycle, 14% objective

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Popular, Inc. Announces Fourth Quarter 2025 Financial Results

•

Net income of $233.9 million in Q4 2025, compared to net income of $211.3 million in Q3 2025.

•

Excluding the partial reversal of the FDIC special assessment reserve of $9.7 million, net of tax, adjusted net income for the fourth quarter of 2025 was $224.2 million.

•

Earnings per share (“EPS”) of $3.53 in Q4 2025 vs. $3.15 in Q3 2025.

•

Net income of $833.2 million for the year 2025, compared to net income of $614.2 million for the year 2024.

•

Excluding the partial reversal of the FDIC special assessment reserve, adjusted net income for 2025 was $823.5 million, compared to adjusted net income of $646.1 million in 2024, which excluded expenses incurred in connection to the FDIC special assessment and prior period tax withholdings of $9.1 million and $22.9 million, net of tax, respectively.

•

Net interest income of $657.6 million in Q4 2025, an increase of $11.0 million compared to Q3 2025:

•

Net interest margin of 3.61% in Q4 2025, compared to 3.51% in Q3 2025; net interest margin on a taxable equivalent basis of 4.03% in Q4 2025, compared to 3.90% in Q3 2025.

•

Non-interest income of $166.3 million in Q4 2025, compared to

$171.2 million in Q3 2025.

•

Operating expenses amounted to $473.2 million, compared to $495.3 million in Q3 2025. Excluding the partial reversal of the FDIC special assessment reserve described above, operating expenses amounted to $488.5 million in Q4 2025.

•

Credit quality metrics:

•

Non-performing loans held-in-portfolio (“NPLs”) decreased by $3.9 million from Q3 2025; NPLs to loans ratio decreased to 1.27% from 1.30% in Q3 2025.

•

Net charge-offs (“NCOs”) decreased by $8.2 million from Q3 2025 to $49.6 million,

including $5.3 million in recoveries from the sale of fully charged off loans in Q4 2025; annualized NCOs to average loans held-in-portfolio at 0.51% vs. 0.60% in

Q3 2025.

•

Allowance for credit losses (“ACL”) to loans held-in-portfolio at 2.05% vs. 2.03% in Q3 2025; and

•

ACL to NPLs at 162.2% vs. 156.6% in Q3 2025.

•

Loans held-in-portfolio,

excluding loans held-for-sale, amounted to $39.3 billion, an increase of $640.4 million from Q3 2025; average quarterly loan balances, excluding loans held-for-sale, higher by $397.2 million.

•

Money market and investment securities decreased by $330.6 million from Q3 2025 to $32.8 billion; average quarterly balances decreased by $1.2 billion.

•

Deposits at $66.2 billion, decreased by $323.3 million from Q3 2025. This includes a decrease of $662.3 million in P.R. public deposits; excluding these, total deposits increased by $339.0 million; average quarterly deposits lower by $879.8 million, including a decrease of $1.1 billion in P.R. public deposits.

1

•

Common Equity Tier 1 ratio of 15.72%, Common Equity per share of $94.75 and Tangible Book Value per share of $82.65 ($3.53 above Q3 2025).

•

Capital actions for the fourth quarter of 2025 included the repurchase of 1,252,303 shares of common stock for $147.8 million, at an average price of $118.04 per share, and the payment and declaration of a quarterly common stock dividend of $0.75 per share. For the year 2025, the Corporation repurchased a total of 4,660,124 shares of common stock for $501.5 million at an average price of $107.61 per share under the announced repurchase authorizations. As of December 31, 2025, a total of $281.2 million remained available for stock repurchases under the active authorization.

SAN JUAN, Puerto Rico – (BUSINESS WIRE) – Popular, Inc. (the “Corporation,” “Popular,” “we,” “us,” “our”) (NASDAQ:BPOP) reported net income of $233.9 million for the quarter ended December 31, 2025, compared to net income of $211.3 million for the quarter ended September 30, 2025.

“We closed out a strong fourth quarter and an excellent year for Popular, reflecting the discipline and focus of our team across the organization,” said Javier D. Ferrer, President and Chief Executive Officer of Popular, Inc. “In 2025, we delivered 36% growth in net income, achieved strong loan growth, maintained stable credit quality, and continued returning capital to our shareholders. Fourth quarter performance was driven by higher net interest income and continued expense discipline. We demonstrated significant progress in our efforts to improve our sustainable returns towards our 14% objective. We are very pleased to have exceeded a 14% ROTCE for the fourth quarter and a 13% ROTCE for the full year.”

“We are moving full speed ahead with the execution of our new strategic framework, determined to be the #1 bank for our customers by strengthening relationships and delivering exceptional service. We are also focused on providing solutions faster, improving productivity, and reducing costs. Ultimately, our goal is to be a top-performing bank that attracts and retains top talent and generates profitable growth and long-term shareholder value