<SEC-DOCUMENT>0001157523-19-000118.txt : 20190123
<SEC-HEADER>0001157523-19-000118.hdr.sgml : 20190123
<ACCEPTANCE-DATETIME>20190123075529
ACCESSION NUMBER:		0001157523-19-000118
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190123
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190123
DATE AS OF CHANGE:		20190123

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			POPULAR INC
		CENTRAL INDEX KEY:			0000763901
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				660667416
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34084
		FILM NUMBER:		19536537

	BUSINESS ADDRESS:	
		STREET 1:		209 MUNOZ RIVERA AVE
		STREET 2:		POPULAR CENTER BUILDING
		CITY:			HATO REY
		STATE:			PR
		ZIP:			00918
		BUSINESS PHONE:		7877659800

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 362708
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00936-2708

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANPONCE CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51928595.htm
<DESCRIPTION>POPULAR, INC. 8-K
<TEXT>
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      <font style="font-size: 18pt"><b>UNITED STATES </b></font><br><font style="font-size: 18pt"><b>SECURITIES
      AND EXCHANGE COMMISSION </b></font><br>Washington, D.C. 20549<b> </b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 18pt"><b>Form 8-K </b></font>
    </p>
    <p style="text-align: center">
      <b>CURRENT REPORT </b><br><b>Pursuant to Section 13 or 15(d) of the
      Securities Exchange Act of 1934 </b>
    </p>
    <p style="text-align: center">
      <b>Date of Report&#160;(Date of earliest event reported): <font style="font-family: Times New Roman; font-size: 10pt">January
      23, 2019</font></b><br><b> </b>
    </p>
    <p style="text-align: center">
      <u><font style="font-size: 24pt"><b>POPULAR, INC.</b></font></u><b><font style="font-size: 24pt">
      </font></b><br><i>(Exact name of registrant as specified in its charter)</i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 10pt; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; width: 33%; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center" valign="top">
          <b>Puerto Rico</b>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; width: 1%; text-align: left" valign="bottom">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 32%; white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; padding-right: 0.0px" valign="top">
          <b>001-34084</b>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; width: 1%; text-align: left" valign="bottom">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 33%; white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; padding-right: 0.0px" valign="top">
          <b>66-0667416</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="top">
          <i>(State or other jurisdiction of</i>

          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>incorporation)</i>
          </p>
        </td>
        <td style="width: 1%">

        </td>
        <td style="padding-left: 0.0px; width: 32%; text-align: center" valign="top">
          <i>(Commission File Number)</i>
        </td>
        <td style="width: 1%">

        </td>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="top">
          <i>(IRS Employer Identification Number)</i>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 10pt; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; width: 50%; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center" valign="top">
          <b>209 Mu&#241;oz Rivera Avenue</b>

          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Hato Rey, Puerto Rico</b>
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; width: 1%; text-align: left" valign="bottom">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 49%; white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>00918</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 50%; text-align: center" valign="top">
          <i>(Address of principal executive offices)</i>
        </td>
        <td style="width: 1%">

        </td>
        <td style="padding-left: 0.0px; width: 49%; text-align: center" valign="top">
          <i>(Zip code)</i>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <b>(787) 765-9800</b>
    </p>
    <hr style="height: 2.0 pt; width: 100%; color: #000000; text-align: center">


    <p style="text-align: center">
      <i>(Registrant&#8217;s telephone number, including area code)</i>
    </p>
    <p style="text-align: center">
      <b>NOT APPLICABLE</b>
    </p>
    <hr style="height: 2.0 pt; width: 100%; color: #000000; text-align: center">


    <p style="text-align: center">
      <i>(Former name or former address, if changed since last report)</i><b> </b>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">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:</font>
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p style="text-align: justify">
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#167; 230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
    <p>
      Emerging growth company <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><br>
    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: justify">
      <b>Item 8.01. Other Events. </b>
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      On January 23, 2019, Popular, Inc. (the &#8220;Company&#8221;) issued a press
      release announcing plans to (i) increase the Company&#8217;s quarterly common
      stock dividend from $0.25 per share to $0.30 per share, payable
      commencing in the second quarter of 2019, subject to the approval of the
      Company&#8217;s Board of Directors, and (ii) repurchase up to $250 million of
      the Company&#8217;s common stock.
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      A copy of the press release is attached hereto as Exhibit 99.1 and
      incorporated herein by reference.
    </p>
    <p style="text-align: justify">
      <b>Item 9.01. Financial Statements and Exhibits. </b>
    </p>
    <p style="margin-left: 30.0px; white-space: nowrap; text-align: justify">
      <a href="a51928595ex99_1.htm">99.1</a>&#160;&#160;&#160;&#160;&#160;&#160;<a href="a51928595ex99_1.htm">Press
      release dated January 23, 2019.</a>
    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <u><b>SIGNATURE </b></u>
    </p>
    <p>
      Pursuant to the requirements of the Securities Exchange Act of 1934, as
      amended, the registrant has duly caused this report to be signed on its
      behalf by the undersigned hereunto duly authorized.
    </p>
    <p>

    </p>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 47%; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>POPULAR, INC.</b></u>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Registrant)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 0.0px; width: 47%; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; width: 50%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date: January 23, 2019
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; width: 3%; text-align: left" valign="top">
          By:
        </td>
        <td style="padding-left: 0.0px; width: 47%; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left" valign="top">
          <b>/s/ Javier D. Ferrer</b>
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 0.0px; width: 47%; text-align: left" valign="top">
          Javier D. Ferrer
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 0.0px; width: 47%; text-align: left" valign="top">
          Executive Vice President, General Counsel and Secretary
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51928595ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Popular
      Announces Planned Capital Actions</b></font>
    </p>
    <p>
      SAN JUAN, Puerto Rico--(BUSINESS WIRE)--January 23, 2019--Popular, Inc.
      (&#8220;Popular&#8221; or the &#8220;Company&#8221;) (NASDAQ: BPOP) announced today the
      following planned capital actions:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        an increase in the Company&#8217;s quarterly common stock dividend from
        $0.25 per share to $0.30 per share, payable commencing in the second
        quarter of 2019, subject to the approval by the Company&#8217;s Board of
        Directors; and
      </li>
      <li style="margin-bottom: 10.0px">
        common stock repurchases of up to $250 million.
      </li>
    </ul>
    <p>
      &#8220;These capital actions evidence the strength of Popular&#8217;s capital
      position, which allows us to return capital to our shareholders as we
      invest in our franchise to ensure its continued success in the future,&#8221;
      said Chief Executive Officer Ignacio Alvarez.
    </p>
    <p>
      Common stock repurchases may be executed in the open market or in
      privately negotiated transactions. The timing and exact amount of the
      share repurchases will be subject to various factors, including the
      Company&#8217;s capital position, financial performance and market conditions.
    </p>
    <p>
      The announcement of the planned common stock repurchases follows<b> </b>the
      non-objection from the Board of Governors of the Federal Reserve System.
    </p>
    <p>
      <b>About Popular, Inc.</b>
    </p>
    <p>
      Popular, Inc. 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&#8217;s principal subsidiary, provides retail, mortgage and commercial
      banking services in Puerto Rico and the U.S. Virgin Islands. Popular
      also offers in Puerto Rico auto and equipment leasing and financing,
      investment banking, broker-dealer and insurance services through
      specialized subsidiaries. In the mainland United States, Popular
      provides retail, mortgage and commercial banking services through its
      New York-chartered banking subsidiary, Popular Bank, which has branches
      located in New York, New Jersey and Florida.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Cautionary Note Regarding Forward-Looking Statements</b>
    </p>
    <p>
      This press release contains &#8220;forward-looking statements&#8221; within the
      meaning of the U.S. Private Securities Litigation Reform Act of 1995,
      including without limitation those about Popular&#8217;s business, financial
      condition, results of operations, plans, objectives, and future
      performance. These statements are not guarantees of future performance,
      are based on management&#8217;s current expectations and, by their nature,
      involve risks, uncertainties, estimates and assumptions. Potential
      factors, some of which are beyond the Company&#8217;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, capital market conditions, capital adequacy and liquidity, the
      effect of legal proceedings and new accounting standards on the
      Company&#8217;s financial condition and results of operations, the impact of
      Hurricanes Irma and Maria on us, our ability to successfully integrate
      the auto finance business acquired from Wells Fargo &amp; Company, as well
      as the unexpected costs, including, without limitation, costs due to
      exposure to any unrecorded liabilities or issues not identified during
      the due diligence investigation of the business or that are not subject
      to indemnification or reimbursement, and risks that the business may
      suffer as a result of the acquisition, including due to adverse effects
      on relationships with customers, employees and service providers. All
      statements contained herein that are not clearly historical in nature,
      are forward-looking, and the words &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;continues,&#8221;
      &#8220;expect,&#8221; &#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;project&#8221; and similar expressions, and
      future or conditional verbs such as &#8220;will,&#8221; &#8220;would,&#8221; &#8220;should,&#8221; &#8220;could,&#8221;
      &#8220;might,&#8221; &#8220;can,&#8221; &#8220;may&#8221; or similar expressions, are generally intended to
      identify forward-looking statements.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>Popular, Inc.<br>Investor Relations:<br>Paul J. Cardillo,
      212-417-6721<br>Investor Relations Officer<br><u>pcardillo@popular.com</u><br>or<br>Media
      Relations:<br>Teruca Rull&#225;n, 787-281-5170 or 917-679-3596 (mobile)<br>Senior
      Vice President, Corporate Communications
    </p>
    <p>

    </p>
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