Popular, Inc. Announces First Quarter 2026 Financial Results

Popular, Inc. Announces First Quarter 2026 Financial Results 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.”

“I want to express my sincere gratitude to our employees — it is their daily commitment to our customers, our communities, and each other that makes these results possible.”

Earnings Highlights

(Unaudited)

Quarters ended

(Dollars in thousands, except per share information)

31-Mar-26

31-Dec-25

31-Mar-25

Net interest income

$670,180

$657,552

$605,597

Provision for credit losses

75,886

72,016

64,081

Net interest income after provision for credit losses

594,294

585,536

541,516

Other non-interest income

165,626

166,286

152,061

Operating expenses

467,310

473,206

471,012

Income before income tax

292,610

278,616

222,565

Income tax expense

46,936

44,716

45,063

Net income

$245,674

$233,900

$177,502

Net income applicable to common stock

$245,321

$233,547

$177,149

Net income per common share - basic

$3.78

$3.53

$2.56

Net income per common share - diluted

$3.78

$3.53

$2.56

Non-GAAP Financial Measures

This press release contains financial information prepared under accounting principles generally accepted in the United States (“U.S. GAAP”) and non-GAAP financial measures. Management uses non-GAAP financial measures when it determines that these measures provide more meaningful information of the underlying performance of the ongoing operations. Non-GAAP financial measures used by the Corporation may not be comparable to similarly named non-GAAP financial measures used by other companies.

Net interest income on a taxable equivalent basis

Net interest income, on a taxable equivalent basis, is presented with its different components in Tables D and E for the quarter ended March 31, 2026. Net interest income, on a taxable equivalent basis, is a non-GAAP financial measure. Management believes that this presentation provides meaningful information since it facilitates the comparison of revenues arising from taxable and tax-exempt sources.

Tangible Common Equity

Tangible common equity, the tangible common equity ratio, tangible assets and tangible book value per common share are non-GAAP financial measures. The tangible common equity ratio and tangible book value per common share are commonly used by banks and analysts in conjunction with more traditional bank capital ratios to compare the capital adequacy of banking organizations with significant amounts of goodwill or other intangible assets, typically stemming from the use of the purchase accounting method for mergers and acquisitions. Neither tangible common equity nor tangible assets or related measures should be used in isolation or as a substitute for stockholders’ equity, total assets or any other measure calculated in accordance with GAAP.

Refer to Table R for a reconciliation of total stockholders’ equity to tangible common equity and total assets to tangible assets.

Adjusted net income

In addition to analyzing the Corporation’s results on a reported basis, management monitors the “Adjusted net income” of the Corporation and excludes the impact of certain transactions on the results of its operations. Management believes that the “Adjusted net income” provides meaningful information about the underlying performance of the Corporation’s ongoing operations. The “Adjusted net income” is a non-GAAP financial measure. Non-GAAP financial measures used by the Corporation may not be comparable to similarly named non-GAAP financial measures used by other companies.

The following table presents the reconciliation of the net income to the adjusted net income (non-GAAP) for the quarter ended December 31, 2025. There were no adjustments to net income for the quarter ended March 31, 2026.

Adjusted Net Income for the Quarter Ended December 31, 2025 (Non-GAAP)

(Unaudited)

(In thousands)

Income before

income tax

Income tax

expense(benefit)

Impact on

net Income

U.S. GAAP Net income

$278,616

$44,716

$233,900

Non-GAAP Adjustments:

FDIC Special Assessment [1]

(15,323

)

5,622

(9,701

)

Adjusted net income (Non-GAAP)

$263,293

$39,094

$224,199

[1] Partial reversal of the FDIC special assessment reserve imposed in connection with the receivership of several failed banks in 2023. Refer to the Operating Expenses section of this press release for additional information.

Net Interest Income and Net Interest Margin

Net interest income (“NII”) for the first quarter of 2026 was $670.2 million, an increase of $12.6 million when compared to the previous quarter. This increase was driven by lower interest expense on deposits by $22.1 million, primarily due to the lower cost of P.R. public deposits by $13.7 million, or 31 basis points, and lower cost of deposits in Popular Bank by $7.4 million, or 18 basis points, due to repricing across most deposit products. Higher income from U.S. Treasury securities by $5.9 million also contributed to higher NII, driven by higher average deposit balances by $1.1 billion during the quarter due to a combination of higher retail, commercial and P.R. public deposits, which supported the re-investment of maturities and purchases of U.S. treasuries. This increase in NII was partially offset by lower income from loans by $7.7 million, primarily attributable to the impact of two fewer days in the period, partially offset by higher average loan balances in the commercial and construction portfolios in both banks and in the mortgage loan portfolio in BPPR, as well as higher loan yields in the auto loan and credit card portfolios. In addition, lower income from money market investments by $4.0 million, or 28 basis points, negatively impacted NII during the quarter, reflecting the full quarter impact of short-term market rate cuts by the Federal Open Market Committee in the fourth quarter of 2025. The overall impact in NII of the two fewer days in the quarter was lower NII by $10.3 million.

Net interest margin (“NIM”) of 3.66% in the first quarter of 2026 increased five basis points, compared to 3.61% in the previous quarter, primarily due to the reduction in costs of P.R. public deposits and high-cost deposits in Popular Bank described above.

Excluding P.R. public deposits, average deposits increased by $383.5 million. Total deposit costs decreased by 12 basis points quarter-over-quarter to 1.56%. Excluding P.R. public deposits, total deposit costs decreased by five basis points to 1.09% compared to the previous quarter.

Net Interest Income and Net Interest Margin Taxable Equivalent (Non-GAAP)

Net interest income on a taxable equivalent basis for the first quarter of 2026 was $757.8 million, an increase of $24.0 million when compared to the previous quarter. Net interest margin on a taxable equivalent basis for the first quarter of 2026 was 4.14%, an increase of 11 basis points, driven by higher average balance and yields of U.S. Treasuries and higher average balance of mortgage and commercial loans during the period. Interest income on a taxable equivalent basis includes interest income on U.S. Treasuries and income from certain loans in BPPR portfolios, which are both tax exempt in Puerto Rico.

Net Interest Income and Net Interest Margin (Banco Popular de Puerto Rico Segment)

For the BPPR segment, net interest income for the first quarter of 2026 was $567.9 million, an increase of $13.4 million over the previous quarter. Net interest margin increased by seven basis points to 3.85%. Total deposit costs decreased by 11 basis points to 1.31%.

The main drivers of higher net interest income for the BPPR segment include:

partially offset by:

Net Interest Income and Net Interest Margin (Popular Bank Segment)

Net interest income for the Popular Bank segment in Q1 2026 was $111.7 million, higher by $0.1 million when compared to the previous quarter. Net interest margin increased by four basis points to 3.15%. Total deposit costs decreased by 16 basis points during the quarter to 2.69%.

The main drivers for the net interest income for the Popular Bank segment include:

partially offset by:

Refer to tables D and E for more details on the components of net interest income and net interest margin on a taxable equivalent basis.

Non-interest income

Non-interest income amounted to $165.6 million for the quarter ended March 31, 2026, a decrease of $0.7 million when compared to $166.3 million for the previous quarter. The main variances in non-interest income include:

partially offset by:

Refer to Table B for further details.

Operating expenses

Operating expenses for the first quarter of 2026 totaled $467.3 million, a decrease of $5.9 million when compared to the fourth quarter of 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.

The other factors that contributed to lower total operating expenses were:

partially offset by:

Full-time equivalent employees were 9,191 as of March 31, 2026, compared to 9,238 as of December 31, 2025.

For a breakdown of operating expenses by category refer to Table B.

Income taxes

For the first quarter of 2026, the Corporation recorded an income tax expense of $46.9 million, compared to an income tax expense of $44.7 million for the previous quarter. The increase in income tax expense of $2.2 million is mainly driven by higher income before tax, partially offset by higher exempt income.

The effective tax rate (“ETR”) of the Corporation is impacted by the composition source of its taxable income and tax credit activities. The ETR for the first quarter of 2026 was 16.0%, in line with the previous quarter.

Credit Quality

During the first quarter of 2026, the Corporation’s credit quality metrics remained stable. The Corporation continues to closely monitor the economic landscape and borrower performance, as macro-economic uncertainty and increased volatility remain key considerations. Management believes that the improvements in risk management practices over recent years and the overall credit risk profile of the loan portfolio position the Corporation to continue to operate successfully in the current environment.

The following presents credit quality results for the first quarter of 2026:

Non-Performing Loans and Net Charge Offs

Total NPLs decreased by $40.2 million to $458.1 million compared to the previous quarter. Excluding consumer loans, inflows of NPLs held-in-portfolio decreased by $7.0 million in the first quarter of 2026. The ratio of NPLs to total loans held in the portfolio was 1.17% for the first quarter of 2026, compared to 1.27% for the previous quarter. NPLs variances per reporting segment include:

Including other real estate owned (“OREO”) assets of $45.7 million, non-performing assets (“NPAs”) for the Corporation amounted to $503.8 million, a decrease of $37.0 million when compared to the previous quarter.

Total NCOs of $60.0 million increased by $10.4 million when compared to the fourth quarter of 2025. NCOs during the fourth quarter included $5.3 million in recoveries from the sale of previously charged off auto and credit card loans. The Corporation’s ratio of annualized NCOs to average loans held-in-portfolio for the first quarter was 0.61%, compared to 0.51% in the fourth quarter of 2025.

NCOs variances per reporting segment include:

Allowance for Credit Losses and Provision for Credit Losses

The ACL as of March 31, 2026 amounted to $823.7 million, an increase of $15.6 million when compared to the fourth quarter of 2025. The increase in the ACL was primarily in the BPPR segment.

The Corporation’s ratio of the ACL to loans held-in-portfolio was 2.10% in the first quarter of 2026, compared to 2.05% in the previous quarter. The ratio of the ACL to NPLs held-in-portfolio increased to 179.8%, from 162.2% in the previous quarter.

The provision for loan losses for the loan and lease portfolios for the first quarter of 2026 was $75.7 million, an increase of $4.3 million when compared to $71.4 million in the previous quarter. The provision for loan losses for the BPPR segment amounted to $73.3 million, compared to $71.7 million in the previous quarter. This increase was primarily driven by higher provision expenses for commercial loans of $14.5 million, mainly due to specific reserves for two unrelated commercial exposures in BPPR. The provision for mortgage loans increased by $10.6 million; during the previous quarter, changes in credit quality generated a release of $10.2 million in the mortgage loan portfolio. These increases were partially offset by a lower provision for the consumer loan portfolio of $24.2 million, mainly in the auto loan and unsecured loan portfolios, as a result of changes in credit quality and lower reserve build-up requirements due to slower origination activity. The provision for loan losses for the PB segment amounted to $2.4 million, compared to a release of $0.3 million in the prior quarter.

Including the provision for unfunded loan commitments and the provision related to the Corporation’s investment portfolio, the provision for credit losses for the first quarter was $75.9 million.

Refer to Table L for breakdown of non-performing assets and related ratios and to Table N for allowance for credit losses, net charge-offs and related ratios.

Non-Performing Assets

(Unaudited)

(In thousands)

31-Mar-26

31-Dec-25

31-Mar-25

Non-performing loans held-in-portfolio

$458,117

$498,343

$314,069

Other real estate owned

45,680

42,433

52,114

Total non-performing assets

$503,797

$540,776

$366,183

Net charge-offs for the quarter

$60,023

$49,592

$49,103

Ratios:

Loans held-in-portfolio

$39,289,702

$39,327,518

$37,254,032

Non-performing loans held-in-portfolio to loans held-in-portfolio

1.17

1.27

0.84

Allowance for credit losses to loans held-in-portfolio

2.10

2.05

Allowance for credit losses to non-performing loans, excluding loans held-for-sale

179.81

162.15

242.67

Refer to Table L for additional information.

Provision for Credit Losses (Benefit)- Loan Portfolios

(Unaudited)

Quarters ended

(In thousands)

31-Mar-26

31-Dec-25

31-Mar-25

Provision for credit losses (benefit) - loan portfolios:

BPPR

$73,298

$71,734

$52,690

Popular U.S.

2,391

(308

)

12,528

Total provision for credit losses (benefit) - loan portfolios

$75,689

$71,426

$65,218

Credit Quality by Segment

(Unaudited)

(Dollars in thousands)

Quarters ended

BPPR

31-Mar-26

31-Dec-25

31-Mar-25

Provision for credit losses - loan portfolios

$73,298

$71,734

$52,690

Net charge-offs

58,990

49,171

47,102

Total non-performing loans held-in-portfolio

420,273

458,709

262,006

Annualized net charge-offs to average loans held-in-portfolio

0.85

0.72

Allowance / loans held-in-portfolio

2.65

2.60

2.59

Allowance / non-performing loans held-in-portfolio

174.23

156.51

258.11

Quarters ended

Popular U.S.

31-Mar-26

31-Dec-25

31-Mar-25

Provision for credit losses (benefit) - loan portfolios

$2,391

$(308

)

$12,528

Net charge-offs

1,033

421

2,001

Total non-performing loans held-in-portfolio

37,844

39,634

52,063

Annualized net charge-offs to average loans held-in-portfolio

0.04

0.01

0.07

Allowance / loans held-in-portfolio

0.79

0.77

Allowance / non-performing loans held-in-portfolio

241.77

227.42

164.96

Financial Condition Highlights

(Unaudited)

(In thousands)

31-Mar-26

31-Dec-25

31-Mar-25

Cash and money market investments

$5,040,621

$5,029,261

$6,575,193

Investment securities

28,943,544

28,168,918

27,375,396

Loans

39,289,702

39,327,518

37,254,032

Total assets

76,131,018

75,348,267

74,038,606

Deposits

67,611,316

66,190,093

65,819,255

Borrowings

1,119,557

1,448,578

1,090,417

Total liabilities

69,819,932

69,099,188

68,238,911

Stockholders’ equity

6,311,086

6,249,079

5,799,695

Total assets amounted to $76.1 billion at March 31, 2026, an increase of $782.8 million from the fourth quarter of 2025, driven by:

partially offset by:

Total liabilities increased by $720.7 million from the fourth quarter of 2025, driven by:

partially offset by:

Stockholders' equity increased by $62.0 million when compared to the fourth quarter of 2025 mainly due to the quarter’s net income of $245.7 million and the amortization of unrealized losses from securities previously reclassified to HTM of $37.5 million, net of tax, partially offset by an increase in Treasury Stock of $152.4 million, mainly due to common stock repurchases during the quarter, the common and preferred dividends declared during the quarter of $48.9 million, and an increase in net unrealized losses in the portfolio of AFS securities of $25.3 million.

During the quarter ended March 31, 2026, Popular repurchased 1,155,398 shares of common stock for $155.2 million at an average price of $134.31 per share. As of March 31, 2026, $126.0 million remained available for stock repurchase under the active repurchase authorization.

Common Equity Tier 1 ratio (“CET1”), common equity per share and tangible book value per share were 15.92%, $97.27 and $84.98, respectively, at March 31, 2026, compared to 15.72%, $94.75 and $82.65, respectively, at December 31, 2025.

Refer to Table A for capital ratios.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including without limitation those regarding Popular’s business, financial condition, results of operations, plans, objectives and future performance. These statements are not guarantees of future performance, are based on management’s current expectations and, by their nature, involve risks, uncertainties, estimates and assumptions. Potential factors, some of which are beyond the Corporation’s control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. Risks and uncertainties include, without limitation, the effect of competitive and economic factors, and our reaction to those factors, the adequacy of the allowance for loan losses, delinquency trends, market risk and the impact of interest rate changes (including on our cost of deposits), our ability to attract deposits and grow our loan portfolio, capital market conditions, capital adequacy and liquidity, the effect of legal and regulatory proceedings, new regulatory requirements or accounting standards on the Corporation’s financial condition and results of operations, the occurrence of unforeseen or catastrophic events, such as extreme weather events, pandemics, man-made disasters or acts of violence or war, as well as actions taken by governmental authorities in response thereto, and the direct and indirect impact of such events on Popular, our customers, service providers and third parties. Other potential factors include Popular’s ability to successfully execute its transformation initiative, including, but not limited to, achieving projected earnings, efficiencies and return on tangible common equity and accurately anticipating costs and expenses associated therewith, our ability to execute capital actions, including with respect to share repurchases and dividends, the imposition of additional or special FDIC assessments, or increases thereto, the occurrence of any cyber-security event, changes to regulatory capital, liquidity and resolution-related requirements applicable to financial institutions in response to recent developments affecting the banking sector, the impact of bank failures or adverse developments at other banks and related negative media coverage of the banking industry in general on investor and depositor sentiment regarding the stability and liquidity of banks, the impact of any future U.S. government shutdown and changes in and uncertainty regarding federal funding, tax and trade policies, and rulemaking, supervision, examination and enforcement priorities of the federal administration. All statements contained herein that are not clearly historical in nature, are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions, and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions, are generally intended to identify forward-looking statements.

More information on the risks and important factors that could affect the Corporation’s future results and financial condition is included in our Form 10-K for the year ended December 31, 2025 and our Form 10-Q for the quarters ended March 31, 2026 to be filed with the Securities and Exchange Commission. Our filings are available on the Corporation’s website ( www.popular.com) and on the Securities and Exchange Commission website ( www.sec.gov). The Corporation assumes no obligation to update or revise any forward-looking statements or information which speak as of their respective dates.

About Popular, Inc.

Popular, Inc. (NASDAQ: BPOP) is the leading financial institution in Puerto Rico, by both assets and deposits, and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. and British Virgin Islands, as well as auto and equipment leasing and financing in Puerto Rico. Popular also offers broker-dealer and insurance services in Puerto Rico through specialized subsidiaries. In the mainland United States, Popular provides retail and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.

Conference Call

Popular will hold a conference call to discuss its financial results today, Thursday, April 23, 2026 at 11:00 a.m. Eastern Time. The call will be broadcast live over the Internet and can be accessed through the Investor Relations section of the Corporation’s website: www.popular.com.

Following the live webcast, a replay will be archived in the investor relations section of Popular’s website.

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table A - Selected Ratios and Other Information

Table B - Consolidated Statement of Operations

Table C - Consolidated Statement of Financial Condition

Table D - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - QUARTER

Table E - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - QUARTER

Table F - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - YEAR-TO-DATE [Left Blank]

Table G - Mortgage Banking Activities and Other Service Fees

Table H - Consolidated Loans and Deposits

Table I - Loan Delinquency - BPPR Operations

Table J - Loan Delinquency - Popular U.S. Operations

Table K - Loan Delinquency - Consolidated

Table L - Non-Performing Assets

Table M - Activity in Non-Performing Loans

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

Table O - Allowance for Credit Losses “ACL” - Loan Portfolios - BPPR Operations

Table P - Allowance for Credit Losses “ACL” - Loan Portfolios - POPULAR U.S. Operations

Table Q - Allowance for Credit Losses “ACL” - Loan Portfolios - Consolidated

Table R - Reconciliation to GAAP Financial Measures

POPULAR, INC.

Financial Supplement to First Quarter 2026 Earnings Release

Table A - Selected Ratios and Other Information

(Unaudited)

Quarters ended

31-Mar-26

31-Dec-25

31-Mar-25

Basic EPS

$3.78

$3.53

$2.56

Diluted EPS

$3.78

$3.53

$2.56

Average common shares outstanding

64,818,440

65,997,636

69,280,137

Average common shares outstanding - assuming dilution

64,877,543

66,030,817

69,307,681

Common shares outstanding at end of period

64,654,788

65,719,385

68,984,148

Market value per common share

$134.17

$124.52

$92.37

Market capitalization - (In millions)

$8,675

$8,183

$6,372

Return on average assets

1.29

1.23

0.96

Return on average common equity

13.76

12.81

10.07

Net interest margin (non-taxable equivalent basis)

3.66

3.61

3.40

Net interest margin (taxable equivalent basis) -non-GAAP

4.14

4.03

3.73

Common equity per share

$97.27

$94.75

$83.75

Tangible common book value per common share (non-GAAP) [1]

$84.98

$82.65

$72.02

Tangible common equity to tangible assets (non-GAAP) [1]

7.29

6.78

Return on average tangible common equity [1]

15.46

14.39

11.36

Tier 1 capital

15.98

15.77

16.16

Total capital

17.71

17.50

17.91

Tier 1 leverage

8.60

8.65

8.50

Common Equity Tier 1 capital

15.92

15.72

16.11

[1] Refer to Table R for reconciliation to GAAP financial measures.

POPULAR, INC.

Financial Supplement to First Quarter 2026 Earnings Release

Table B - Consolidated Statement of Operations

(Unaudited)

Quarters ended

Variance

Quarter ended

Variance

Q1 2026

(In thousands, except per share information)

31-Mar-26

31-Dec-25

vs. Q4 2025

31-Mar-25

vs. Q1 2025

Interest income:

Loans

$702,149

$709,819

$(7,670

)

$666,673

$35,476

Money market investments

44,240

48,221

(3,981

)

70,166

(25,926

)

Investment securities

200,827

197,450

3,377

180,159

20,668

Total interest income

947,216

955,490

(8,274

)

916,998

30,218

Interest expense:

Deposits

259,418

281,543

(22,125

)

297,863

(38,445

)

Short-term borrowings

5,703

4,476

1,227

1,426

4,277

Long-term debt

11,915

11,919

)

12,112

(197

)

Total interest expense

277,036

297,938

(20,902

)

311,401

(34,365

)

Net interest income

670,180

657,552

12,628

605,597

64,583

Provision for credit losses

75,886

72,016

3,870

64,081

11,805

Net interest income after provision for credit losses

594,294

585,536

8,758

541,516

52,778

Service charges on deposit accounts

38,766

38,911

(145

)

39,054

(288

)

Other service fees

102,921

106,505

(3,584

)

94,508

8,413

Mortgage banking activities

4,213

3,624

589

3,689

524

Net gain (loss), including impairment, on equity securities

1,029

(2,049

)

3,078

(414

)

1,443

Net gain on trading account debt securities

261

452

(191

)

520

(259

)

Adjustments to indemnity reserves on loans sold

(503

)

538

173

(138

)

Other operating income

18,401

19,346

(945

)

14,531

3,870

Total non-interest income

165,626

166,286

(660

)

152,061

13,565

Operating expenses:

Personnel costs

Salaries

134,813

139,665

(4,852

)

130,950

3,863

Commissions, incentives and other bonuses

34,903

36,394

(1,491

)

37,986

(3,083

)

(1,203

)

12,801

(14,004

)

(1,203

)

Pension, postretirement and medical insurance

14,896

17,556

(2,660

)

14,566

330

Other personnel costs, including payroll taxes

32,660

23,742

8,918

29,211

3,449

Total personnel costs

216,069

230,158

(14,089

)

212,713

3,356

Net occupancy expenses

27,299

27,772

(473

)

27,218

Equipment expenses

5,229

5,706

(477

)

5,302

(73

)

Other taxes

17,677

17,615

18,725

(1,048

)

Professional fees

25,553

29,357

(3,804

)

26,825

(1,272

)

Technology and software expenses

89,139

86,124

3,015

83,668

5,471

Processing and transactional services

Credit and debit cards

14,206

15,470

(1,264

)

12,926

1,280

Other processing and transactional services

24,881

22,866

2,015

24,855

Total processing and transactional services

39,087

38,336

751

37,781

1,306

Communications

4,509

4,520

(11

)

4,904

(395

)

Business promotion

Rewards and customer loyalty programs

15,392

17,741

(2,349

)

16,365

(973

)

Other business promotion

7,468

12,178

(4,710

)

7,310

158

Total business promotion

22,860

29,919

(7,059

)

23,675

(815

)

Deposit insurance

9,917

(5,946

)

15,863

10,035

(118

)

Other real estate owned (OREO) expense (income)

(4,618

)

(2,531

)

(2,087

)

(3,330

)

(1,288

)

Other operating expenses

Operational losses

3,975

2,624

1,351

6,138

(2,163

)

All other

10,230

9,168

1,062

16,761

(6,531

)

Total other operating expenses

14,205

11,792

2,413

22,899

(8,694

)

Amortization of intangibles

384

597

(213

)

Total operating expenses

467,310

473,206

(5,896

)

471,012

(3,702

)

Income before income tax

292,610

278,616

13,994

222,565

70,045

Income tax expense

46,936

44,716

2,220

45,063

1,873

Net income

$245,674

$233,900

$11,774

$177,502

$68,172

Net income applicable to common stock

$245,321

$233,547

$11,774

$177,149

$68,172

Net income per common share - basic

$3.78

$3.53

$0.25

$2.56

$1.22

Net income per common share - diluted

$3.78

$3.53

$0.25

$2.56

$1.22

Dividends Declared per Common Share

$0.75

$0.70

$0.05

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table C - Consolidated Statement of Financial Condition

(Unaudited)

Variance

Q1 2026 vs.

(In thousands)

31-Mar-26

31-Dec-25

31-Mar-25

Q4 2025

Assets:

Cash and due from banks

$384,922

$402,755

$380,165

$(17,833

)

Money market investments

4,655,699

4,626,506

6,195,028

29,193

Trading account debt securities, at fair value

30,449

36,569

28,477

(6,120

)

Debt securities available-for-sale, at fair value

21,733,269

20,574,972

19,493,180

1,158,297

Debt securities held-to-maturity, at amortized cost

6,962,659

7,327,529

7,648,718

(364,870

)

Less: Allowance for credit losses

5,900

5,812

5,481

Debt securities held-to-maturity, net

6,956,759

7,321,717

7,643,237

(364,958

)

Equity securities

217,167

229,848

205,021

(12,681

)

Loans held-for-sale, at lower of cost or fair value

5,603

9,998

5,077

(4,395

)

Loans held-in-portfolio

39,703,844

39,749,142

37,675,070

(45,298

)

Less: Unearned income

414,142

421,624

421,038

(7,482

)

Allowance for credit losses

823,729

808,056

762,148

15,673

Total loans held-in-portfolio, net

38,465,973

38,519,462

36,491,884

(53,489

)

Premises and equipment, net

706,233

685,820

625,237

20,413

Other real estate

45,680

42,433

52,114

3,247

Accrued income receivable

308,617

300,824

262,720

7,793

Mortgage servicing rights, at fair value

94,232

96,356

104,743

(2,124

)

Other assets

1,731,769

1,705,977

1,742,540

25,792

Goodwill

789,954

802,954

Other intangible assets

4,692

5,076

6,229

(384

)

Total assets

$76,131,018

$75,348,267

$74,038,606

$782,751

Liabilities and Stockholders’ Equity:

Liabilities:

Deposits:

Non-interest bearing

$15,785,788

$15,304,209

$15,160,801

$481,579

Interest bearing

51,825,528

50,885,884

50,658,454

939,644

Total deposits

67,611,316

66,190,093

65,819,255

1,421,223

Assets sold under agreements to repurchase

34,576

39,001

57,268

(4,425

)

Other short-term borrowings

350,000

650,000

200,000

(300,000

)

Notes payable

734,981

759,577

833,149

(24,596

)

Other liabilities

1,089,059

1,460,517

1,329,239

(371,458

)

Total liabilities

69,819,932

69,099,188

68,238,911

720,744

Stockholders’ equity:

Preferred stock

22,143

Common stock

1,049

Surplus

4,928,636

4,924,296

4,912,886

4,340

Retained earnings

5,403,176

5,206,497

4,699,697

196,679

Treasury stock

(2,875,230

)

(2,722,819

)

(2,346,093

)

(152,411

)

Accumulated other comprehensive loss, net of tax

(1,168,688

)

(1,182,087

)

(1,489,987

)

13,399

Total stockholders’ equity

6,311,086

6,249,079

5,799,695

62,007

Total liabilities and stockholders’ equity

$76,131,018

$75,348,267

$74,038,606

$782,751

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table D - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP)

For the quarters ended March 31, 2026 and December 31, 2025

(Unaudited)

Variance

Average Volume

Average Yields / Costs

Interest

Attributable to

31-Mar-26

31-Dec-25

Variance

31-Mar-26

31-Dec-25

Variance

31-Mar-26

31-Dec-25

Variance

Rate

Volume

(In millions)

(In thousands)

4,850

4,810

3.70

3.98

(0.28

Money market investments

44,240

48,221

(3,981

)

(4,385

)

404

29,810

28,892

918

3.52

3.43

0.09

Investment securities [1]

258,897

249,672

9,225

9,195

5.56

5.26

0.30

Trading securities

463

430

Total money market,

investment and trading

34,694

33,734

960

3.54

3.51

0.03

securities

303,600

298,323

5,277

(4,340

)

9,617

Loans:

19,723

19,395

328

6.71

6.75

(0.04

)

Commercial

326,387

330,093

(3,706

)

(9,231

)

5,525

1,697

1,639

8.14

8.20

(0.06

)

Construction

34,068

33,871

197

(969

)

1,166

1,985

1,991

)

7.35

7.27

0.08

Leasing

36,459

36,178

281

391

(110

)

8,664

8,591

6.08

6.02

0.06

Mortgage

131,679

129,278

2,401

1,307

1,094

3,309

3,294

13.86

13.59

0.27

Consumer

113,129

112,828

301

(268

)

569

3,892

3,933

(41

)

9.33

9.20

0.13

Auto

89,496

91,216

(1,720

)

(778

)

(942

)

39,270

38,843

427

7.53

7.51

0.02

Total loans

731,218

733,464

(2,246

)

(9,548

)

7,302

73,964

72,577

1,387

5.66

5.65

0.01

Total earning assets

1,034,818

1,031,787

3,031

(13,888

)

16,919

Interest bearing deposits:

8,554

8,354

200

1.62

1.74

(0.12

NOW and money market

34,159

36,632

(2,473

)

(3,502

)

1,029

14,633

14,532

101

0.77

0.79

(0.02

)

Savings

27,714

29,095

(1,381

)

(1,177

)

(204

)

8,714

8,859

(145

)

2.99

3.08

(0.09

)

Time deposits

64,243

68,777

(4,534

)

(3,244

)

(1,290

)

20,362

19,651

711

2.66

2.97

(0.31

)

P.R. public deposits

133,302

147,039

(13,737

)

(18,689

)

4,952

52,263

51,396

867

2.01

2.17

(0.16

)

Total interest bearing deposits

259,418

281,543

(22,125

)

(26,612

)

4,487

15,101

14,874

227

Non-interest bearing demand deposits

67,364

66,270

1,094

1.56

1.68

(0.12

)

Total deposits

259,418

281,543

(22,125

)

(26,612

)

4,487

597

425

172

3.88

4.18

(0.30

)

Short-term borrowings

5,703

4,476

1,227

(443

)

1,670

Other medium and

772

792

(20

)

6.26

6.04

0.22

long-term debt

11,915

11,919

)

344

(348

)

Total interest bearing

53,632

52,613

1,019

2.09

2.24

(0.15

)

liabilities (excluding demand deposits)

277,036

297,938

(20,902

)

(26,711

)

5,809

5,231

5,090

141

Other sources of funds

73,964

72,577

1,387

1.52

1.62

(0.10

Total source of funds

277,036

297,938

(20,902

)

(26,711

)

5,809

Net interest margin/

4.14

4.03

0.11

income on a taxable equivalent basis (Non-GAAP)

757,782

733,849

23,933

12,823

11,110

3.57

3.41

0.16

Net interest spread

Taxable equivalent adjustment

87,602

76,297

11,305

Net interest margin/ income

3.66

3.61

0.05

non-taxable equivalent basis (GAAP)

670,180

657,552

12,628

Note: The changes that are not due solely to volume or rate are allocated to volume and rate based on the proportion of the change in each category.

[1] Average balances exclude unrealized gains or losses on debt securities available-for-sale and the unrealized loss related to certain securities transferred from available-for-sale to held-to-maturity.

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table E - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP)

For the quarters ended March 31, 2026 and March 31, 2025

(Unaudited)

Variance

Average Volume

Average Yields / Costs

Interest

Attributable to

31-Mar-26

31-Mar-25

Variance

31-Mar-26

31-Mar-25

Variance

31-Mar-26

31-Mar-25

Variance

Rate

Volume

(In millions)

(In thousands)

4,850

6,379

(1,529

)

3.70

4.46

(0.76

Money market investments

44,240

70,166

(25,926

)

(10,784

)

(15,142

)

29,810

28,415

1,395

3.52

3.14

0.38

Investment securities [1]

258,897

220,435

38,462

24,348

14,114

5.56

5.82

(0.26

)

Trading securities

463

440

(20

)

Total money market,

investment and trading

34,694

34,825

(131

)

3.54

3.38

0.16

securities

303,600

291,041

12,559

13,544

(985

)

Loans:

19,723

18,489

1,234

6.71

Commercial

326,387

305,968

20,419

20,416

1,697

1,309

388

8.14

8.11

0.03

Construction

34,068

26,190

7,878

102

7,776

1,985

1,930

7.35

7.14

0.21

Leasing

36,459

34,444

2,015

1,015

1,000

8,664

8,168

496

6.08

5.82

0.26

Mortgage

131,679

118,917

12,762

5,360

7,402

3,309

3,203

106

13.86

14.04

(0.18

)

Consumer

113,129

110,859

2,270

(1,351

)

3,621

3,892

3,907

(15

)

9.33

9.12

0.21

Auto

89,496

87,850

1,646

1,980

(334

)

39,270

37,006

2,264

7.53

7.48

0.05

Total loans

731,218

684,228

46,990

7,109

39,881

73,964

71,831

2,133

5.66

5.49

0.17

Total earning assets

1,034,818

975,269

59,549

20,653

38,896

Interest bearing deposits:

8,554

7,983

571

1.62

1.73

(0.11

NOW and money market

34,159

34,002

157

(4,227

)

4,384

14,633

14,507

126

0.77

0.87

(0.10

)

Savings

27,714

31,280

(3,566

)

(2,118

)

(1,448

)

8,714

8,400

314

2.99

3.22

(0.23

)

Time deposits

64,243

66,681

(2,438

)

(4,969

)

2,531

20,362

20,286

2.66

3.32

(0.66

)

P.R. public deposits

133,302

165,900

(32,598

)

(33,046

)

448

52,263

51,176

1,087

2.01

2.36

(0.35

)

Total interest bearing deposits

259,418

297,863

(38,445

)

(44,360

)

5,915

15,101

14,682

419

Non-interest bearing demand deposits

67,364

65,858

1,506

1.56

1.83

(0.27

)

Total deposits

259,418

297,863

(38,445

)

(44,360

)

5,915

597

121

476

3.88

4.77

(0.89

)

Short-term borrowings

5,703

1,426

4,277

(284

)

4,561

Other medium and

772

862

(90

)

6.26

5.66

0.60

long-term debt

11,915

12,112

(197

)

1,223

(1,420

)

Total interest bearing

53,632

52,159

1,473

2.09

2.42

(0.33

)

liabilities (excluding demand deposits)

277,036

311,401

(34,365

)

(43,421

)

9,056

5,231

4,990

241

Other sources of funds

73,964

71,831

2,133

1.52

1.76

(0.24

Total source of funds

277,036

311,401

(34,365

)

(43,421

)

9,056

Net interest margin/

4.14

3.73

0.41

income on a taxable equivalent basis (Non-GAAP)

757,782

663,868

93,914

64,074

29,840

3.57

3.07

0.50

Net interest spread

Taxable equivalent adjustment

87,602

58,271

29,331

Net interest margin/ income

3.66

3.40

0.26

non-taxable equivalent basis (GAAP)

670,180

605,597

64,583

Note: The changes that are not due solely to volume or rate are allocated to volume and rate based on the proportion of the change in each category.

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table F – Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - YEAR-TO-DATE

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table G - Mortgage Banking Activities and Other Service Fees

(Unaudited)

Mortgage Banking Activities

Quarters ended

Variance

(In thousands)

31-Mar-26

31-Dec-25

31-Mar-25

Q1 2026 vs.Q4 2025

Mortgage servicing fees, net of fair value adjustments:

Mortgage servicing fees

$6,483

$6,805

$7,168

$(322

)

Mortgage servicing rights fair value adjustments

(2,639

)

(3,521

)

(3,570

)

882

Total mortgage servicing fees, net of fair value adjustments

3,844

3,284

3,598

560

Net gain (loss) on sale of loans, including valuation on loans held-for-sale

317

505

193

(188

)

Trading account (loss) profit:

Unrealized (losses) gains on outstanding derivative positions

(45

)

(87

)

120

Realized (losses) gains on closed derivative positions

(18

)

(53

)

Total trading account (loss) profit

(98

)

(86

)

155

Losses on repurchased loans, including interest advances

)

(67

)

(16

)

Total mortgage banking activities

$4,214

$3,624

$3,689

$590

Other Service Fees

Quarters ended

Variance

(In thousands)

31-Mar-26

31-Dec-25

31-Mar-25

Q1 2026 vs.Q4 2025

Other service fees:

Debit card fees

$30,009

$30,399

$26,432

$(390

)

Insurance fees

12,525

14,465

11,309

(1,940

)

Credit card fees

32,000

32,772

30,130

(772

)

Sale and administration of investment products

10,187

10,203

8,973

(16

)

Trust fees

7,339

7,276

6,300

Other fees

10,861

11,390

11,364

(529

)

Total other service fees

$102,921

$106,505

$94,508

$(3,584

)

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table H - Consolidated Loans and Deposits

(Unaudited)

Loans - Ending Balances

Variance

(Dollars in thousands)

31-Mar-26

31-Dec-25

31-Mar-25

Q1 2026 vs.Q4 2025

% of Change

Q1 2026 vs.Q1 2025

% of Change

Loans held-in-portfolio:

Commercial

Commercial multi-family

$2,427,295

$2,455,790

$2,374,915

$(28,495

)

(1.16

$52,380

2.21

Commercial real estate non-owner occupied

5,543,451

5,543,284

5,540,603

167

0.00

2,848

0.05

Commercial real estate owner occupied

3,212,356

3,153,080

2,956,559

59,276

1.88

255,797

8.65

Commercial and industrial

8,565,559

8,607,412

7,693,523

(41,853

)

(0.49

872,036

11.33

Total Commercial

19,748,661

19,759,566

18,565,600

(10,905

)

(0.06

1,183,061

6.37

Construction

1,674,193

1,674,899

1,358,979

(706

)

(0.04

315,214

23.19

Mortgage

8,712,361

8,649,440

8,273,753

62,921

0.73

438,608

5.30

Leasing

1,986,165

2,001,365

1,949,705

(15,200

)

(0.76

36,460

1.87

Consumer

Credit cards

1,214,199

1,256,717

1,187,777

(42,518

)

(3.38

26,422

2.22

Home equity lines of credit

79,764

78,692

77,109

1,072

1.36

2,655

3.44

Personal

1,913,281

1,906,228

1,850,023

7,053

0.37

63,258

3.42

Auto

3,783,904

3,819,812

3,820,242

(35,908

)

(0.94

(36,338

)

(0.95

Other

177,174

180,799

170,844

(3,625

)

(2.00

6,330

3.71

Total Consumer

7,168,322

7,242,248

7,105,995

(73,926

)

(1.02

62,327

0.88

Total loans held-in-portfolio

$39,289,702

$39,327,518

$37,254,032

$(37,816

)

(0.10

$2,035,670

5.46

Loans held-for-sale:

Mortgage

$5,603

$9,998

$5,077

$(4,395

)

(43.96

$526

10.36

Total loans held-for-sale

$5,603

$9,998

$5,077

$(4,395

)

(43.96

$526

10.36

Total loans

$39,295,305

$39,337,516

$37,259,109

$(42,211

)

(0.11

$2,036,196

5.46

Deposits - Ending Balances

Variance

(In thousands)

31-Mar-26

31-Dec-25

31-Mar-25 [2]

Q1 2026 vs. Q4 2025

% of Change

Q1 2026 vs.Q1 2025

% of Change

Deposits excluding P.R. public deposits:

Demand deposits

$15,778,435

$15,298,712

$15,160,801

$479,723

3.14

$617,634

4.07

Savings, NOW and money market deposits (non-brokered)

23,208,340

22,655,936

22,581,355

552,404

2.44

626,985

2.78

Savings, NOW and money market deposits (brokered)

82,417

87,566

95,861

(5,149

)

(5.88

(13,444

)

(14.02

Time deposits (non-brokered)

7,958,260

7,861,848

7,689,656

96,412

1.23

268,604

3.49

Time deposits (brokered CDs)

914,526

866,772

668,922

47,754

5.51

245,604

36.72

Sub-total deposits excluding P.R. public deposits

47,941,978

46,770,834

46,196,595

1,171,144

2.50

1,745,383

3.78

P.R. public deposits:

Demand deposits [1]

11,967,888

11,534,301

11,157,254

433,587

3.76

810,634

7.27

Savings, NOW and money market deposits (non-brokered)

6,828,306

7,134,217

7,655,847

(305,911

)

(4.29

(827,541

)

(10.81

Time deposits (non-brokered)

873,144

750,741

809,559

122,403

16.30

63,585

7.85

Sub-total P.R. public deposits

19,669,338

19,419,259

19,622,660

250,079

1.29

46,678

0.24

Total deposits

$67,611,316

$66,190,093

$65,819,255

$1,421,223

2.15

$1,792,061

2.72

[1] Includes interest bearing demand deposits.

[2] Savings, NOW and money market deposits include reciprocal deposits of $821 million as of March 31, 2026 (December 31, 2025 - $780 million; March 31, 2025 - $726 million) that were categorized as brokered deposits during 2025 and recharacterized as non-brokered on 2026. Similarly, Time deposits include reciprocal deposits of $86.9 million as of March 31, 2026 (December 31, 2025 - $92.6 million; March 31, 2025 - $144 million) that were categorized as brokered deposits during 2025 and recharacterized as non-brokered on 2026. The presentation for March 31, 2025 and December 31, 2025 has been adjusted to conform to the presentation for March 31, 2026.

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table I - Loan Delinquency -BPPR Operations

(Unaudited)

31-Mar-26

BPPR

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

2,717

7,927

10,644

332,447

343,091

Commercial real estate:

Non-owner occupied

3,123

26,457

29,580

3,362,611

3,392,191

26,457

Owner occupied

2,114

664

14,192

16,970

1,131,241

1,148,211

14,192

Commercial and industrial

5,792

2,240

190,205

198,237

5,742,028

5,940,265

185,993

4,212

Construction

13,635

399,144

412,779

Mortgage

218,044

102,818

325,321

646,183

6,789,562

7,435,745

129,367

195,954

Leasing

21,261

3,938

8,892

34,091

1,952,074

1,986,165

8,892

Consumer:

Credit cards

12,351

8,721

25,395

46,467

1,167,725

1,214,192

25,395

Home equity lines of credit

120

1,778

1,898

Personal

18,601

11,212

15,976

45,789

1,805,275

1,851,064

15,755

221

Auto

81,112

13,038

35,390

129,540

3,654,364

3,783,904

35,390

Other

574

135

4,663

5,372

162,036

167,408

4,227

436

Total

379,324

150,813

646,491

1,176,628

26,500,285

27,676,913

420,273

226,218

31-Dec-25

BPPR

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

6,579

155

112

6,846

296,502

303,348

112

Commercial real estate:

Non-owner occupied

2,457

299

35,692

38,448

3,356,682

3,395,130

35,692

Owner occupied

2,760

681

24,567

28,008

1,168,585

1,196,593

24,567

Commercial and industrial

8,864

3,760

187,222

199,846

5,770,227

5,970,073

183,914

3,308

Construction

17,283

340,258

357,541

Mortgage

261,145

133,124

329,613

723,882

6,624,085

7,347,967

132,373

197,240

Leasing

23,748

4,640

9,179

37,567

1,963,798

2,001,365

9,179

Consumer:

Credit cards

13,700

10,617

27,529

51,846

1,204,885

1,256,731

27,529

Home equity lines of credit

1,908

Personal

19,608

11,894

19,082

50,584

1,785,818

1,836,402

18,863

219

Auto

109,103

25,495

52,200

186,798

3,633,014

3,819,812

52,200

Other

927

2,688

2,285

5,900

165,858

171,758

1,809

476

Total

466,174

193,353

687,481

1,347,008

26,311,620

27,658,628

458,709

228,772

Variance

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

(3,862

)

7,772

(112

)

3,798

35,945

39,743

(112

)

Commercial real estate:

Non-owner occupied

666

(299

)

(9,235

)

(8,868

)

5,929

(2,939

)

(9,235

)

Owner occupied

(646

)

(17

)

(10,375

)

(11,038

)

(37,344

)

(48,382

)

(10,375

)

Commercial and industrial

(3,072

)

(1,520

)

2,983

(1,609

)

(28,199

)

(29,808

)

2,079

904

Construction

(3,648

)

(3,648

)

58,886

55,238

Mortgage

(43,101

)

(30,306

)

(4,292

)

(77,699

)

165,477

87,778

(3,006

)

(1,286

)

Leasing

(2,487

)

(702

)

(287

)

(3,476

)

(11,724

)

(15,200

)

(287

)

Consumer:

Credit cards

(1,349

)

(1,896

)

(2,134

)

(5,379

)

(37,160

)

(42,539

)

(2,134

)

Home equity lines of credit

120

(130

)

(10

)

Personal

(1,007

)

(682

)

(3,106

)

(4,795

)

19,457

14,662

(3,108

)

Auto

(27,991

)

(12,457

)

(16,810

)

(57,258

)

21,350

(35,908

)

(16,810

)

Other

(353

)

(2,553

)

2,378

(528

)

(3,822

)

(4,350

)

2,418

(40

)

Total

(86,850

)

(42,540

)

(40,990

)

(170,380

)

188,665

18,285

(38,436

)

(2,554

)

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table J - Loan Delinquency - Popular U.S. Operations

(Unaudited)

31-Mar-26

Popular U.S.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

5,733

10,962

16,695

2,067,509

2,084,204

10,962

Commercial real estate:

Non-owner occupied

10,282

1,930

6,987

19,199

2,132,061

2,151,260

6,987

Owner occupied

21,202

1,610

22,812

2,041,333

2,064,145

Commercial and industrial

11,660

4,404

6,693

22,757

2,602,537

2,625,294

6,524

169

Construction

6,903

1,254,511

1,261,414

Mortgage

25,877

1,552

9,700

37,129

1,239,487

1,276,616

9,700

Consumer:

Credit cards

Home equity lines of credit

660

252

2,766

3,678

74,188

77,866

2,766

Personal

1,062

523

905

2,490

59,727

62,217

905

Other

9,764

9,766

Total

83,381

10,271

38,013

131,665

11,481,124

11,612,789

37,844

169

31-Dec-25

Popular U.S.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

9,500

8,636

18,136

2,134,306

2,152,442

8,636

Commercial real estate:

Non-owner occupied

1,600

7,020

8,620

2,139,534

2,148,154

7,020

Owner occupied

1,956,487

Commercial and industrial

7,608

928

6,686

15,222

2,622,117

2,637,339

6,498

188

Construction

1,317,358

Mortgage

15,596

6,400

13,422

35,418

1,266,055

1,301,473

13,422

Consumer:

(14

)

(14

)

Home equity lines of credit

1,282

2,796

4,160

72,624

76,784

2,796

Personal

983

832

1,233

3,048

66,778

69,826

1,233

Other

9,012

9,041

Total

34,969

9,842

39,822

84,633

11,584,257

11,668,890

39,634

188

Variance

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

(3,767)

2,326

(1,441)

(66,797)

(68,238)

2,326

Commercial real estate:

Non-owner occupied

10,282

330

(33)

10,579

(7,473)

3,106

(33)

Owner occupied

21,202

1,610

22,812

84,846

107,658

Commercial and industrial

4,052

3,476

7,535

(19,580)

(12,045)

(19)

Construction

6,903

(62,847)

(55,944)

Mortgage

10,281

(4,848)

(3,722)

1,711

(26,568)

(24,857)

(3,722)

Consumer:

Credit cards

Home equity lines of credit

(622)

170

(30)

(482)

1,564

1,082

(30)

Personal

(309)

(328)

(558)

(7,051)

(7,609)

(328)

Other

(29)

(27)

752

725

(29)

Total

48,412

429

(1,809)

47,032

(103,133)

(56,101)

(1,790)

(19)

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table K - Loan Delinquency - Consolidated

(Unaudited)

31-Mar-26

Popular, Inc.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

8,450

7,927

10,962

27,339

2,399,956

2,427,295

10,962

Commercial real estate:

Non-owner occupied

13,405

1,930

33,444

48,779

5,494,672

5,543,451

33,444

Owner occupied

23,316

2,274

14,192

39,782

3,172,574

3,212,356

14,192

Commercial and industrial

17,452

6,644

196,898

220,994

8,344,565

8,565,559

192,517

4,381

Construction

20,538

1,653,655

1,674,193

Mortgage

243,921

104,370

335,021

683,312

8,029,049

8,712,361

139,067

195,954

Leasing

21,261

3,938

8,892

34,091

1,952,074

1,986,165

8,892

Consumer:

Credit cards

12,351

8,721

25,395

46,467

1,167,732

1,214,199

25,395

Home equity lines of credit

660

372

2,766

3,798

75,966

79,764

2,766

Personal

19,663

11,735

16,881

48,279

1,865,002

1,913,281

16,660

221

Auto

81,112

13,038

35,390

129,540

3,654,364

3,783,904

35,390

Other

576

135

4,663

5,374

171,800

177,174

4,227

436

Total

462,705

161,084

684,504

1,308,293

37,981,409

39,289,702

458,117

226,387

31-Dec-25

Popular, Inc.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

16,079

155

8,748

24,982

2,430,808

2,455,790

8,748

Commercial real estate:

Non-owner occupied

2,457

1,899

42,712

47,068

5,496,216

5,543,284

42,712

Owner occupied

2,760

681

24,567

28,008

3,125,072

3,153,080

24,567

Commercial and industrial

16,472

4,688

193,908

215,068

8,392,344

8,607,412

190,412

3,496

Construction

17,283

1,657,616

1,674,899

Mortgage

276,741

139,524

343,035

759,300

7,890,140

8,649,440

145,795

197,240

Leasing

23,748

4,640

9,179

37,567

1,963,798

2,001,365

9,179

Consumer:

Credit cards

13,700

10,617

27,529

51,846

1,204,871

1,256,717

27,529

Home equity lines of credit

1,282

2,796

4,160

74,532

78,692

2,796

Personal

20,591

12,726

20,315

53,632

1,852,596

1,906,228

20,096

219

Auto

109,103

25,495

52,200

186,798

3,633,014

3,819,812

52,200

Other

927

2,688

2,314

5,929

174,870

180,799

1,838

476

Total

501,143

203,195

727,303

1,431,641

37,895,877

39,327,518

498,343

228,960

Variance

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

(7,629)

7,772

2,214

2,357

(30,852)

(28,495)

2,214

Commercial real estate:

Non-owner occupied

10,948

(9,268)

1,711

(1,544)

167

(9,268)

Owner occupied

20,556

1,593

(10,375)

11,774

47,502

59,276

(10,375)

Commercial and industrial

980

1,956

2,990

5,926

(47,779)

(41,853)

2,105

885

Construction

3,255

(3,961)

(706)

Mortgage

(32,820)

(35,154)

(8,014)

(75,988)

138,909

62,921

(6,728)

(1,286)

Leasing

(2,487)

(702)

(287)

(3,476)

(11,724)

(15,200)

(287)

Consumer:

Credit cards

(1,349)

(1,896)

(2,134)

(5,379)

(37,139)

(42,518)

(2,134)

Home equity lines of credit

(622)

290

(30)

(362)

1,434

1,072

(30)

Personal

(928)

(991)

(3,434)

(5,353)

12,406

7,053

(3,436)

Auto

(27,991)

(12,457)

(16,810)

(57,258)

21,350

(35,908)

(16,810)

Other

(351)

(2,553)

2,349

(555)

(3,070)

(3,625)

2,389

(40)

Total

(38,438)

(42,111)

(42,799)

(123,348)

85,532

(37,816)

(40,226)

(2,573)

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table L - Non-Performing Assets

(Unaudited)

Variance

(Dollars in thousands)

31-Mar-26

As a % of loans HIP by category

31-Dec-25

As a % of loans HIP by category

31-Mar-25

As a % of loans HIP by category

Q1 2026 vs. Q4 2025

Q1 2026 vs. Q1 2025

Non-accrual loans:

Commercial

Commercial multi-family

$10,962

0.5

$8,748

0.4

$8,773

0.4

$2,214

$2,189

Commercial real estate non-owner occupied

33,444

0.6

42,712

0.8

14,192

0.3

(9,268

)

19,252

Commercial real estate owner occupied

14,192

0.4

24,567

0.8

27,122

0.9

(10,375

)

(12,930

)

Commercial and industrial

192,517

2.2

190,412

2.2

10,017

0.1

2,105

182,500

Total Commercial

251,115

1.3

266,439

1.3

60,104

0.3

(15,324

)

191,011

Mortgage

139,067

1.6

145,795

1.7

177,593

2.1

(6,728

)

(38,526

)

Leasing

8,892

0.4

9,179

0.5

8,895

0.5

(287

)

Consumer

Home equity lines of credit

2,766

3.5

2,796

3.6

3,430

4.4

(30

)

(664

)

Personal

16,660

0.9

20,096

1.1

20,285

1.1

(3,436

)

(3,625

)

Auto

35,390

0.9

52,200

1.4

41,784

1.1

(16,810

)

(6,394

)

Other

4,227

2.4

1,838

1.0

1,978

1.2

2,389

2,249

Total Consumer

59,043

0.8

76,930

1.1

67,477

0.9

(17,887

)

(8,434

)

Total non-performing loans held-in-portfolio

458,117

1.2

498,343

1.3

314,069

0.8

(40,226

)

144,048

Other real estate owned (“OREO”)

45,680

42,433

52,114

3,247

(6,434

)

Total non-performing assets [1]

503,797

540,776

366,183

(36,979

)

137,614

Accruing loans past due 90 days or more [2]

$226,387

$228,960

$219,860

$(2,573

)

$6,527

Ratios:

Non-performing assets to total assets

0.66

0.72

0.49

Non-performing loans held-in-portfolio to loans held-in-portfolio

1.17

1.27

0.84

Allowance for credit losses to loans held-in-portfolio

2.10

2.05

Allowance for credit losses to non-performing loans, excluding loans held-for-sale

179.81

162.15

242.67

[1] There were no non-performing loans held-for-sale as of March 31, 2026, December 31, 2025 and March 31, 2025.

[2] It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. The balance of these loans includes $8 million at March 31, 2026, related to the rebooking of loans previously pooled into GNMA securities, in which the Corporation had a buy-back option as further described below (December 31, 2025 - $8 million; March 31, 2025 - $7 million). Under the GNMA program, issuers such as BPPR have the option but not the obligation to repurchase loans that are 90 days or more past due. For accounting purposes, these loans subject to the repurchase option are required to be reflected (rebooked) on the financial statements of BPPR with an offsetting liability. These balances include $43 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of March 31, 2026 (December 31, 2025 - $47 million; March 31, 2025 - $57 million). Furthermore, the Corporation has approximately $26 million reverse mortgage loans which are guaranteed by FHA, as of March 31, 2026. Due to the guaranteed nature of the loans, it is the Corporation's policy to exclude these balances from non-performing assets (December 31, 2025 - $27 million; March 31, 2025 - $30 million).

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table M - Activity in Non-Performing Loans

(Unaudited)

Commercial loans held-in-portfolio:

Quarter ended

31-Mar-26

31-Dec-25

(In thousands)

BPPR

Popular U.S.

Popular, Inc.

BPPR

Popular U.S.

Popular, Inc.

Beginning balance NPLs

$244,285

$22,154

$266,439

$236,081

$16,796

$252,877

Plus:

New non-performing loans

5,004

3,205

8,209

15,528

6,272

21,800

Advances on existing non-performing loans

170

(2,312

)

(2,281

)

Less:

Non-performing loans transferred to OREO

(650

)

(650

)

Non-performing loans charged-off

(11,661

)

(11,664

)

(3,027

)

(17

)

(3,044

)

Loans returned to accrual status / loan collections

(10,336

)

(1,053

)

(11,389

)

(1,985

)

(928

)

(2,913

)

Ending balance NPLs

$226,642

$24,473

$251,115

$244,285

$22,154

$266,439

Mortgage loans held-in-portfolio:

Quarter ended

31-Mar-26

31-Dec-25

(In thousands)

BPPR

Popular U.S.

Popular, Inc.

BPPR

Popular U.S.

Popular, Inc.

Beginning balance NPLs

$132,373

$13,422

$145,795

$139,958

$27,809

$167,767

Plus:

New non-performing loans

38,457

2,528

40,985

32,689

4,193

36,882

Advances on existing non-performing loans

Less:

Non-performing loans transferred to OREO

(2,461

)

(2,461

)

(5,794

)

(5,794

)

Non-performing loans charged-off

(540

)

(21

)

(561

)

273

Loans returned to accrual status / loan collections

(38,462

)

(6,240

)

(44,702

)

(34,753

)

(18,580

)

(53,333

)

Ending balance NPLs

$129,367

$9,700

$139,067

$132,373

$13,422

$145,795

Total non-performing loans held-in-portfolio (excluding consumer):

Quarter ended

31-Mar-26

31-Dec-25

(In thousands)

BPPR

Popular U.S.

Popular, Inc.

BPPR

Popular U.S.

Popular, Inc.

Beginning balance NPLs

$376,658

$35,576

$412,234

$376,039

$44,605

$420,644

Plus:

New non-performing loans

43,461

5,733

49,194

48,217

10,465

58,682

Advances on existing non-performing loans

181

(2,312

)

(2,281

)

Less:

Non-performing loans transferred to OREO

(3,111

)

(3,111

)

(5,794

)

(5,794

)

Non-performing loans charged-off

(12,201

)

(24

)

(12,225

)

(2,754

)

(17

)

(2,771

)

Loans returned to accrual status / loan collections

(48,798

)

(7,293

)

(56,091

)

(36,738

)

(19,508

)

(56,246

)

Ending balance NPLs

$356,009

$34,173

$390,182

$376,658

$35,576

$412,234

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

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

(Unaudited)

Quarters ended

(In thousands)

31-Mar-26

31-Dec-25

31-Mar-25

Balance at beginning of period - loans held-in-portfolio

$808,056

$786,220

$746,024

Provision for credit losses

75,689

71,426

65,218

Initial allowance for credit losses - PCD Loans

883,752

857,648

811,251

Net loans charge-off (recovered)- BPPR

Commercial:

Commercial multi-family

)

Commercial real estate non-owner occupied

11,115

(595

)

Commercial real estate owner occupied

(355

)

(683

)

(406

)

Commercial and industrial

731

4,893

(1,528

)

Total Commercial

11,489

4,213

(2,531

)

Construction

(11

)

(31

)

Mortgage

(2,316

)

(3,000

)

3,272

Leasing

2,569

2,724

(2,497

)

Consumer:

Credit cards

16,053

13,558

16,429

Home equity lines of credit

(91

)

(145

)

(114

)

Personal

17,949

18,279

18,338

Auto

12,826

12,914

13,487

Other Consumer

522

659

718

Total Consumer

47,259

45,265

48,858

Total net charged-off BPPR

$58,990

$49,171

$47,102

Net loans charge-off (recovered) - Popular U.S.

Commercial:

Commercial multi-family

(38

)

Commercial real estate owner occupied

(115

)

(78

)

(511

)

Commercial and industrial

(15

)

(218

)

925

Total Commercial

(130

)

(334

)

413

Construction

(125

)

Mortgage

(28

)

(35

)

(185

)

Consumer:

Home equity lines of credit

(234

)

(26

)

(237

)

Personal

1,422

154

1,989

Other Consumer

787

Total Consumer

1,191

915

1,773

Total net charged-off Popular U.S.

$1,033

$421

$2,001

Total loans net charged-off - Popular, Inc.

$60,023

$49,592

$49,103

Balance at end of period - loans held-in-portfolio

$823,729

$808,056

$762,148

Balance at beginning of period - unfunded commitments

$14,438

$13,823

$15,470

Provision for credit losses (benefit)

109

615

(1,301

)

Balance at end of period - unfunded commitments [1]

$14,547

$14,438

$14,169

POPULAR, INC.

Annualized net charge-offs (recoveries) to average loans held-in-portfolio

0.61

0.51

0.53

Provision for credit losses (benefit) - loan portfolios to net charge-offs

126.10

144.03

132.82

BPPR

Annualized net charge-offs (recoveries) to average loans held-in-portfolio

0.85

0.72

Provision for credit losses (benefit) - loan portfolios to net charge-offs

124.25

145.89

111.86

Popular U.S.

Annualized net charge-offs (recoveries) to average loans held-in-portfolio

0.04

0.01

0.07

Provision for credit losses (benefit) - loan portfolios to net charge-offs

231.46

(73.16

626.09

[1] Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table O - Allowance for Credit Losses "ACL"- Loan Portfolios - BPPR Operations

(Unaudited)

31-Mar-26

BPPR

(Dollars in thousands)

Total ACL

Total loans held-in-portfolio

ACL to loans held-in-portfolio

Commercial:

Commercial multi-family

$4,704

$343,091

1.37

Commercial real estate - non-owner occupied

48,881

3,392,191

1.44

Commercial real estate - owner occupied

35,403

1,148,211

3.08

Commercial and industrial

179,980

5,940,265

3.03

Total commercial

$268,968

$10,823,758

2.48

Construction

5,767

412,779

1.40

Mortgage

73,761

7,435,745

0.99

Leasing

18,588

1,986,165

0.94

Consumer:

Credit cards

89,376

1,214,192

7.36

Home equity lines of credit

1,898

3.53

Personal

97,457

1,851,064

5.26

Auto

170,544

3,783,904

4.51

Other

7,707

167,408

4.60

Total consumer

$365,151

$7,018,466

5.20

Total

$732,235

$27,676,913

2.65

31-Dec-25

BPPR

(Dollars in thousands)

Total ACL

Total loans held-in-portfolio

ACL to loans held-in-portfolio

Commercial:

Commercial multi-family

$3,871

$303,348

1.28

Commercial real estate - non-owner occupied

44,149

3,395,130

1.30

Commercial real estate - owner occupied

34,722

1,196,593

2.90

Commercial and industrial

163,877

5,970,073

2.74

Total commercial

$246,619

$10,865,144

2.27

Construction

4,488

357,541

1.26

Mortgage

70,674

7,347,967

0.96

Leasing

18,620

2,001,365

0.93

Consumer:

Credit cards

91,124

1,256,731

7.25

Home equity lines of credit

1,908

3.04

Personal

97,804

1,836,402

5.33

Auto

180,364

3,819,812

4.72

Other

8,169

171,758

4.76

Total consumer

$377,519

$7,086,611

5.33

Total

$717,920

$27,658,628

2.60

Variance

(Dollars in thousands)

Total ACL

Total loans held-in-portfolio

ACL to loans held-in-portfolio

Commercial:

Commercial multi-family

$833

$39,743

0.09

Commercial real estate - non-owner occupied

4,732

(2,939

)

0.14

Commercial real estate - owner occupied

681

(48,382

)

0.18

Commercial and industrial

16,103

(29,808

)

0.29

Total commercial

$22,349

$(41,386

)

0.21

Construction

1,279

55,238

0.14

Mortgage

3,087

87,778

0.03

Leasing

(32

)

(15,200

)

0.01

Consumer:

Credit cards

(1,748

)

(42,539

)

0.11

Home equity lines of credit

(10

)

0.49

Personal

(347

)

14,662

(0.07

Auto

(9,820

)

(35,908

)

(0.21

Other

(462

)

(4,350

)

(0.16

Total consumer

$(12,368

)

$(68,145

)

(0.13

Total

$14,315

$18,285

0.05

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table P - Allowance for Credit Losses "ACL"- Loan Portfolios - POPULAR U.S. Operations

(Unaudited)

31-Mar-26

Popular U.S.

(Dollars in thousands)

Total ACL

Total loans held-in-portfolio

ACL to loans held-in-portfolio

Commercial:

Commercial multi-family

$15,365

$2,084,204

0.74

Commercial real estate - non-owner occupied

15,265

2,151,260

0.71

Commercial real estate - owner occupied

15,713

2,064,145

0.76

Commercial and industrial

17,496

2,625,294

0.67

Total commercial

$63,839

$8,924,903

0.72

Construction

9,393

1,261,414

0.74

Mortgage

9,863

1,276,616

0.77

Consumer:

Credit cards

Home equity lines of credit

1,111

77,866

1.43

Personal

7,282

62,217

11.70

Other

9,766

0.06

Total consumer

$8,399

$149,856

5.60

Total

$91,494

$11,612,789

0.79

31-Dec-25

Popular U.S.

(Dollars in thousands)

Total ACL

Total loans held-in-portfolio

ACL to loans held-in-portfolio

Commercial:

Commercial multi-family

$15,474

$2,152,442

0.72

Commercial real estate - non-owner occupied

14,568

2,148,154

0.68

Commercial real estate - owner occupied

13,729

1,956,487

0.70

Commercial and industrial

17,057

2,637,339

0.65

Total commercial

$60,828

$8,894,422

0.68

Construction

9,338

1,317,358

0.71

Mortgage

9,880

1,301,473

0.76

Consumer:

Credit cards

(14

)

Home equity lines of credit

1,277

76,784

1.66

Personal

8,808

69,826

12.61

Other

9,041

0.06

Total consumer

$10,090

$155,637

6.48

Total

$90,136

$11,668,890

0.77

Variance

(Dollars in thousands)

Total ACL

Total loans held-in-portfolio

ACL to loans held-in-portfolio

Commercial:

Commercial multi-family

$(109

)

$(68,238

)

0.02

Commercial real estate - non-owner occupied

697

3,106

0.03

Commercial real estate - owner occupied

1,984

107,658

0.06

Commercial and industrial

439

(12,045

)

0.02

Total commercial

$3,011

$30,481

0.04

Construction

(55,944

)

0.03

Mortgage

(17

)

(24,857

)

0.01

Consumer:

Credit cards

Home equity lines of credit

(166

)

1,082

(0.23

Personal

(1,526

)

(7,609

)

(0.91

Other

725

Total consumer

$(1,691

)

$(5,781

)

(0.88

Total

$1,358

$(56,101

)

0.02

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table Q - Allowance for Credit Losses "ACL"- Loan Portfolios - Consolidated

(Unaudited)

31-Mar-26

(Dollars in thousands)

Total ACL

Total loans held-in-portfolio

ACL to loans held-in-portfolio

Commercial:

Commercial multi-family

$20,069

$2,427,295

0.83

Commercial real estate - non-owner occupied

64,146

5,543,451

1.16

Commercial real estate - owner occupied

51,116

3,212,356

1.59

Commercial and industrial

197,476

8,565,559

2.31

Total commercial

$332,807

$19,748,661

1.69

Construction

15,160

1,674,193

0.91

Mortgage

83,624

8,712,361

0.96

Leasing

18,588

1,986,165

0.94

Consumer:

Credit cards

89,376

1,214,199

7.36

Home equity lines of credit

1,178

79,764

1.48

Personal

104,739

1,913,281

5.47

Auto

170,544

3,783,904

4.51

Other

7,713

177,174

4.35

Total consumer

$373,550

$7,168,322

5.21

Total

$823,729

$39,289,702

2.10

31-Dec-25

(Dollars in thousands)

Total ACL

Total loans held-in-portfolio

ACL to loans held-in-portfolio

Commercial:

Commercial multi-family

$19,345

$2,455,790

0.79

Commercial real estate - non-owner occupied

58,717

5,543,284

1.06

Commercial real estate - owner occupied

48,451

3,153,080

1.54

Commercial and industrial

180,934

8,607,412

2.10

Total commercial

$307,447

$19,759,566

1.56

Construction

13,826

1,674,899

0.83

Mortgage

80,554

8,649,440

0.93

Leasing

18,620

2,001,365

0.93

Consumer:

Credit cards

91,124

1,256,717

7.25

Home equity lines of credit

1,335

78,692

1.70

Personal

106,612

1,906,228

5.59

Auto

180,364

3,819,812

4.72

Other

8,174

180,799

4.52

Total consumer

$387,609

$7,242,248

5.35

Total

$808,056

$39,327,518

2.05

Variance

(Dollars in thousands)

Total ACL

Total loans held-in-portfolio

ACL to loans held-in-portfolio

Commercial:

Commercial multi-family

$724

$(28,495

)

0.04

Commercial real estate - non-owner occupied

5,429

167

0.10

Commercial real estate - owner occupied

2,665

59,276

0.05

Commercial and industrial

16,542

(41,853

)

0.21

Total commercial

$25,360

$(10,905

)

0.13

Construction

1,334

(706

)

0.08

Mortgage

3,070

62,921

0.03

Leasing

(32

)

(15,200

)

0.01

Consumer:

Credit cards

(1,748

)

(42,518

)

0.11

Home equity lines of credit

(157

)

1,072

(0.22

Personal

(1,873

)

7,053

(0.12

Auto

(9,820

)

(35,908

)

(0.21

Other

(461

)

(3,625

)

(0.17

Total consumer

$(14,059

)

$(73,926

)

(0.14

Total

$15,673

$(37,816

)

0.05

Popular, Inc.

Financial Supplement to First Quarter 2026 Earnings Release

Table R - Reconciliation to GAAP Financial Measures

(Unaudited)

(In thousands, except share or per share information)

31-Mar-26

31-Dec-25

31-Mar-25

Total stockholders’ equity

$6,311,086

$6,249,079

$5,799,695

Less: Preferred stock

(22,143

)

(22,143

)

(22,143

)

Less: Goodwill

(789,954

)

(789,954

)

(802,954

)

Less: Other intangibles

(4,692

)

(5,076

)

(6,229

)

Total tangible common equity

$5,494,297

$5,431,906

$4,968,369

Total assets

$76,131,018

$75,348,267

$74,038,606

Less: Goodwill

(789,954

)

(789,954

)

(802,954

)

Less: Other intangibles

(4,692

)

(5,076

)

(6,229

)

Total tangible assets

$75,336,372

$74,553,237

$73,229,423

Tangible common equity to tangible assets

7.29

6.78

Common shares outstanding at end of period

64,654,788

65,719,385

68,984,148

Tangible book value per common share

$84.98

$82.65

$72.02

Quarterly average

Total stockholders’ equity

$6,289,337

$6,938,571

[1]

$6,670,706

[1]

Less: Preferred Stock

(22,143

)

(22,143

)

(22,143

)

Less: Goodwill

(789,954

)

(789,954

)

(802,953

)

Less: Other intangibles

(4,944

)

(5,328

)

(6,585

)

Total tangible equity before adjusting for the impact of unrealized losses on AFS securities including those transferred to HTM

$5,472,296

$6,121,146

$5,839,025

Return on average tangible common equity before adjusting for the impact of unrealized losses on AFS securities including those transferred to HTM

18.18

15.14

12.30

Add: Average unrealized losses on AFS securities

743,809

56,761

116,987

Add: Average unrealized losses on AFS securities transferred to HTM

221,114

259,058

370,695

Total tangible equity after add back of impact of unrealized losses on AFS securities, including those transferred to HTM

$6,437,219

$6,436,965

$6,326,707

Return on average tangible common equity after add back of impact of unrealized losses on AFS securities including those transferred to HTM (''ROTCE'')

15.46

14.39

11.36

[1] Average balances exclude certain unrealized gains or losses on debt securities available-for-sale.