BPOP - Public offerings

  Puerto Rico is known for its variety of musical sounds and its significant contribution to various genres heard worldwide. Salsa is one of those genres that has made a deep impact, where Puerto Ricans, along with Cubans and other Latinos, have been pivotal in its development. Sounds began to brew from New York City in the middle of the last century, leaving a musical imprint so profound that it continues to be of great importance to many countries today. In the 31st edition of Popular's music special, the company dedicates its new musical production to salsa. Through this piece, viewers can review, alongside artists and connoisseurs of this genre, some facts about the birth, developme

Net income of $151.2 million in Q2 2023, compared to net income of $159.0 million in Q1 2023. Net interest margin of 3.14% in Q2 2023, compared to 3.22% in Q1 2023; net interest margin on a taxable equivalent basis of 3.29% in Q2 2023, compared to 3.46% in Q1 2023. Credit Quality: Non-performing loans held-in-portfolio ("NPLs") decreased by $26.9 million from Q1 2023; NPLs to loans ratio at 1.2% vs. 1.3% in Q1 2023; Net charge-offs ("NCOs") decreased by $8.8 million from Q1 2023; annualized NCOs at 0.29% of average loans held-in-portfolio vs. 0.41% in Q1 2023; Allowance for credit losses ("ACL") to loans held-in-portfolio at 2.12% vs. 2.13% in Q1 2023; and ACL to NPLs at 1

Net income of $159.0 million in Q1 2023, compared to net income of $257.1 million in Q4 2022; the results of Q4 2022 included a tax benefit of $68.2 million related to the partial release of the deferred tax valuation allowance in the U.S. Net interest margin of 3.22% in Q1 2023, compared to 3.28% in Q4 2022; net interest margin on a taxable equivalent basis of 3.46% in Q1 2023, compared to 3.64% in Q4 2022. Credit Quality: Non-performing loans held-in-portfolio ("NPLs") decreased by $27.1 million from Q4 2022; NPLs to loans ratio at 1.3% vs. 1.4% in Q4 2022; Net charge-offs ("NCOs") increased by $1.6 million from Q4 2022; annualized NCOs at 0.41% of average loans held-in-portfo

Popular, Inc. ("Popular") (NASDAQ:BPOP) announced today that it has agreed to sell an aggregate of $400,000,000 principal amount of its 7.25% Senior Notes due 2028 (the "Senior Notes"). Popular intends to use the net proceeds from the offering to redeem or repay in full the $300 million aggregate principal amount of its outstanding 6.125% Senior Notes due on September 14, 2023 (the "2023 Senior Notes"). The Senior Notes will bear interest at a rate of 7.25% per year, payable on March 13 and September 13 of each year, commencing on September 13, 2023. The Senior Notes will mature on March 13, 2028, unless redeemed prior to such date. BofA Securities, Inc., Goldman Sachs & Co. LLC and Morga

Popular, Inc. ("Popular") (NASDAQ:BPOP) completed the sale of its remaining 7,065,634 shares (the "Shares") of common stock of EVERTEC, Inc. ("EVERTEC") (NYSE:EVTC). Popular sold 6,262,293 of the Shares in an underwritten public offering of EVERTEC's common stock. J.P. Morgan Securities LLC acted as sole book-running manager, BofA Securities, Goldman Sachs & Co. LLC and Morgan Stanley acted as lead managers and Hovde Group, LLC, Keefe, Bruyette & Woods, A Stifel Company, Piper Sandler and PNC Capital Markets LLC acted as co-managers for the underwritten public offering. Concurrently with the completion of the underwritten public offering, Popular completed a private sale of 803,341 of the S

EVERTEC, Inc. (NYSE:EVTC) ("Evertec" or the "Company") today announced the pricing of the previously announced underwritten secondary offering by Popular, Inc. (NASDAQ:BPOP) (the "Selling Stockholder") of 6,262,293 shares of the Company's common stock at a public offering price of $32.00 per share. The shares are expected to be delivered on or about August 15, 2022, subject to customary closing conditions. The Selling Stockholder will receive all of the net proceeds from the offering. The Company is not selling any shares of common stock in the offering and will not receive any proceeds from the offering. In addition, Evertec has entered into a repurchase agreement with the Selling Stockh