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Segment reporting (Tables) | 9 Months Ended
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Sep. 30, 2024
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Results of Operations and Total Assets | 2024 For the quarter ended September 30, 2024 Intersegment (In thousands) BPPR Popular U.S. Eliminations Net interest income $ 488,008 $ 93,128 $ - Provision for credit losses (benefit) 77,514 (6,066) - Non-interest income 149,050 6,789 - Amortization of intangibles 394 310 - Depreciation expense 13,023 2,063 - Other operating expenses 390,227 62,356 - Income tax expense 30,064 12,472 - Net income $ 125,836 $ 28,782 $ - Segment assets $ 56,906,693 $ 14,306,045 $ (260,464) For the quarter ended September 30, 2024 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 581,136 $ (8,663) $ - $ 572,473 Provision for credit losses 71,448 - - 71,448 Non-interest income 155,839 8,876 (633) 164,082 Amortization of intangibles 704 - - 704 Depreciation expense 15,086 385 - 15,471 Other operating expenses 452,583 (391) (1,046) 451,146 Income tax expense (benefit) 42,536 (279) 206 42,463 Net income $ 154,618 $ 498 $ 207 $ 155,323 Segment assets $ 70,952,274 $ 5,887,340 $ (5,516,540) $ 71,323,074 For the nine months ended September 30, 2024 Intersegment (In thousands) BPPR Popular U.S. Eliminations Net interest income $ 1,449,594 $ 263,832 $ - Provision for credit losses 188,576 1,806 - Non-interest income 447,073 19,909 (56) Amortization of intangibles 1,302 931 - Depreciation expense 39,349 6,210 - Other operating expenses 1,170,263 197,307 (56) Income tax expense 92,810 23,917 - Net income $ 404,367 $ 53,570 $ - Segment assets $ 56,906,693 $ 14,306,045 $ (260,464) For the nine months ended September 30, 2024 Reportable Total (In thousands) Segments Corporate Eliminations Popular, Inc. Net interest income (expense) $ 1,713,426 $ (21,897) $ - $ 1,691,529 Provision for credit losses 190,382 458 - 190,840 Non-interest income 466,926 31,314 (4,034) 494,206 Amortization of intangibles 2,233 - - 2,233 Depreciation expense 45,559 1,161 - 46,720 Other operating expenses 1,367,514 7,004 (3,461) 1,371,057 Income tax expense 116,727 21,921 (158) 138,490 Net income (loss) $ 457,937 $ (21,127) $ (415) $ 436,395 Segment assets $ 70,952,274 $ 5,887,340 $ (5,516,540) $ 71,323,074 2023 For the quarter ended September 30, 2023 Intersegment (In thousands) BPPR Popular U.S. Eliminations Net interest income $ 453,879 $ 87,445 $ 1 Provision for credit losses (benefit) 51,899 (6,644) - Non-interest income 144,691 5,894 (134) Amortization of intangibles 484 311 - Goodwill impairment charge - 23,000 - Depreciation expense 12,880 1,962 - Other operating expenses 369,738 58,341 (134) Income tax expense 40,861 5,358 - Net income $ 122,708 $ 11,011 $ 1 Segment assets $ 57,039,000 $ 12,806,630 $ (448,100) For the quarter ended September 30, 2023 Reportable (In thousands) Segments Corporate Eliminations Total Popular, Inc. Net interest income (expense) $ 541,325 $ (7,305) $ - $ 534,020 Provision for credit losses (benefit) 45,255 (138) - 45,117 Non-interest income 150,451 10,179 (1,081) 159,549 Amortization of intangibles 795 - - 795 Goodwill impairment charge 23,000 - - 23,000 Depreciation expense 14,842 381 - 15,223 Other operating expenses 427,945 180 (1,159) 426,966 Income tax expense (benefit) 46,219 (396) 36 45,859 Net income $ 133,720 $ 2,847 $ 42 $ 136,609 Segment assets $ 69,397,530 $ 5,554,370 $ (5,214,964) $ 69,736,936 For the nine months ended September 30, 2023 Intersegment (In thousands) BPPR Popular U.S. Eliminations Net interest income $ 1,356,774 $ 265,033 $ 2 Provision for credit losses 126,952 3,328 - Non-interest income 435,966 18,165 (404) Amortization of intangibles 1,453 932 - Goodwill impairment charge - 23,000 - Depreciation expense 36,424 5,661 - Other operating expenses 1,119,522 182,809 (404) Income tax expense 120,996 16,184 - Net income $ 387,393 $ 51,284 $ 2 Segment assets $ 57,039,000 $ 12,806,630 $ (448,100) For the nine months ended September 30, 2023 Reportable Total (In thousands) Segments Corporate Eliminations Popular, Inc. Net interest income (expense) $ 1,621,809 $ (24,465) $ - $ 1,597,344 Provision for credit losses (benefit) 130,280 (334) - 129,946 Non-interest income 453,727 32,905 (4,651) 481,981 Amortization of intangibles 2,385 - - 2,385 Goodwill impairment charge 23,000 - - 23,000 Depreciation expense 42,085 1,095 - 43,180 Other operating expenses 1,301,927 (146) (3,391) 1,298,390 Income tax expense (benefit) 137,180 (1,006) (498) 135,676 Net income $ 438,679 $ 8,831 $ (762) $ 446,748 Segment assets $ 69,397,530 $ 5,554,370 $ (5,214,964) $ 69,736,936
Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area | Geographic Information Quarter ended Nine months ended (In thousands) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Revenues: [1] Puerto Rico $ 582,953 $ 539,985 $ 1,735,035 $ 1,623,963 United States 133,067 131,698 386,819 389,463 Other 20,535 21,886 63,881 65,899 Total consolidated revenues $ 736,555 $ 693,569 $ 2,185,735 $ 2,079,325 [1] Total revenues include net interest income, service charges on deposit accounts, other service fees, mortgage banking activities, net (loss) gain, including impairment, on equity securities, net gain on trading account debt securities, net loss on sale of loans, including valuation adjustments on loans held-for-sale, adjustments to indemnity reserves on loans sold, and other operating income. Selected Balance Sheet Information: (In thousands) September 30, 2024 December 31, 2023 Puerto Rico Total assets $ 54,200,914 $ 54,181,300 Loans 23,672,112 22,519,961 Deposits 50,759,657 51,282,007 United States Total assets $ 15,883,947 $ 15,343,156 Loans 11,998,043 12,006,012 Deposits 11,203,741 10,643,602 Other Total assets $ 1,238,213 $ 1,233,699 Loans [1] 530,321 543,299 Deposits [2] 1,705,103 1,692,634 [1] Represents loans from BPPR operations located in the U.S. and British Virgin Islands. [2] Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.

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