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Stock impact report

Popular, Inc. Announces First Quarter 2020 Financial Results

Popular, Inc. (BPOP) 
Last popular, inc. earnings: 4/30 08:00 am Check Earnings Report
US:NASDAQ Investor Relations: popular.com/en/investor-relations
Company Research Source: Business Wire
Net income of $34.3 million in Q1 2020, compared to net income of $166.8 million in Q4 2019.Net interest margin of 3.94% in Q1 2020, compared to 3.83% in Q4 2019; Net interest margin on a taxable equivalent basis of 4.34% in Q1 2020, compared to 4.20% in Q4 2019.Q1 2020 results reflect the impact of the adoption of the Current Expected Credit Losses (“CECL”) accounting standard. Credit Quality:Non-performing loans held-in-portfolio (“NPLs”) increased by $240.8 million from Q4 2019, mostly due to the effect of the adoption of CECL on previously acquired credit deteriorated loans; excluding this impact, NPLs decreased by $26.7 million; NPLs to loans ratio at 2.8% vs. 1.9% in Q4 2019;Net charge-offs (“NCOs”) decreased by $19.4 million from Q4 2019; NCOs at 0.91% of average loans held-in-portfolio vs. 1.21% in Q4 2019;Allowance for credit losses (“ACL”) to loans held-in-portfolio at 3.32% vs. 1.74% in Q4 2019; andACL to NPLs at 119.7% vs. 90.5% in Q4 2019.Common Equity Tier 1 ratio of 15. Show less Read more
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