- Popular, Inc. (BPOP, Financial) reported net income of $177.5 million for Q1 2025, compared to $177.8 million in Q4 2024.
- Earnings per share (EPS) increased to $2.56 from $2.51 in the previous quarter.
- Net interest income increased by $14.8 million to $605.6 million, with a net interest margin of 3.40%.
Popular, Inc. (BPOP) released its financial results for the first quarter of 2025, highlighting a steady performance with a net income of $177.5 million. This figure shows a slight decrease from the $177.8 million recorded in the fourth quarter of 2024. Despite the marginal drop in net income, the company's earnings per share rose to $2.56 from $2.51 in Q4 2024.
The corporation reported an increase in net interest income to $605.6 million, up by $14.8 million from the previous quarter. This improvement is accompanied by an enhanced net interest margin of 3.40%, a five-basis-point increase from Q4 2024. On a taxable equivalent basis, the net interest margin stood at 3.73%, up from 3.62% in the previous quarter.
Non-interest income, however, decreased to $152.1 million from $164.7 million in the previous quarter. Operating expenses were reported at $471.0 million, marking a slight increase from $467.6 million in Q4 2024, primarily due to higher personnel costs.
On the credit quality front, the company noted a decrease in non-performing loans by $36.7 million from Q4 2024, leading to an improved NPLs to loans ratio of 0.84%. Additionally, net charge-offs decreased by $18.3 million, enhancing the annualized NCOs to average loans held-in-portfolio ratio to 0.53% from 0.74% in Q4 2024.
Popular, Inc.'s financial condition remains robust, with total assets amounting to $74.0 billion as of March 31, 2025, an increase of $993.2 million from the previous quarter. The company's capital actions included the repurchase of 1,270,569 shares of common stock for $122.3 million at an average price of $96.24 per share.
