Q2 2026 Popular Inc Earnings Call Transcript
Key Points
- Popular Inc (BPOP) reported a strong net income of $278 million and earnings per share of $4.35, marking a 15% increase from the first quarter.
- The company announced a 20% increase in its quarterly dividend to $0.90 per share and a new $1 billion share repurchase authorization.
- Loans held in portfolio increased by $460 million, driven by growth in commercial, construction, and mortgage lending.
- Credit performance remained stable with lower consumer net charge-offs and a decline in non-performing loans.
- Popular Inc (BPOP) continues to invest in technology and digital capabilities, enhancing customer experience and operational efficiency.
- Two unrelated commercial and industrial relationships totaling approximately $129 million were placed on non-accrual status, indicating potential credit risk.
- Operating expenses increased by approximately $17 million, primarily due to higher personnel costs and business promotion expenses.
- Deposit costs increased slightly, reflecting competitive conditions in the market, particularly in the US.
- The company faces ongoing competition in both Puerto Rico and the US, impacting pricing strategies and market share.
- Despite strong performance, the company acknowledges potential headwinds in loan growth due to fewer large-ticket loans and timing of payoffs in the construction portfolio.
Good day, and thank you for standing by. Welcome to the Popular, Inc. second-quarter 2026 conference call. (Operator Instructions) Please be advised today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, the Investor Relations Officer at Popular, Paul Cardillo, please go ahead.
Good morning and thank you for joining us. With me on the call today is our President and CEO, Javier Ferrer; our CFO, Jorge Garcia; and our CRO, Lidio Soriano. They will review our results for the second quarter and then answer your questions. Other members of our management team will also be available during the Q&A session.
Before we begin, I would like to remind you that during today's call, we may make forward-looking statements regarding Popular, such as projections of revenue, earnings, credit quality, expenses, taxes and capital as well as statements regarding Popular's plans and objectives. These statements are based on management's current
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