Company: BPOPM
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001193125-25-043848
Chunk: 1

Company: POPULAR, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1
Chunk 1
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Item 1 
Business 
7 
ITEM 1. BUSINESSGeneral: 
Popular
is
a diversified,
publicly-owned financial
holding company,
registered under
the Bank
Holding Company
Act
of
1956, as 
amended (the “BHC Act”), and subject to supervision and regulation by the Board of Governors of the Federal Reserve System (the 
“Federal Reserve Board”). Popular was incorporated in 1984 under the laws of the Commonwealth of Puerto Rico and is the
largest 
financial institution
based in Puerto
Rico, with
consolidated assets of
$73.0 billion, total
deposits of
$64.9 billion
and stockholders’ 
equity of $5.6 billion at
December 31, 2024. At December 31,
2024, we ranked among the
50 largest U.S. bank holding companies 
based on total assets according to information gathered
and disclosed by the Federal Reserve Board. 
We operate in two principal markets: 
●

Puerto Rico:
We
provide retail,
mortgage and
commercial banking
services through
our principal
banking subsidiary,
Banco 
Popular de Puerto Rico
(“Banco Popular” or “BPPR”), as
well as auto and equipment
leasing and financing, broker-dealer and 
insurance services through specialized subsidiaries. BPPR’s deposits are
insured under the Deposit Insurance Fund (“DIF”) of 
the
Federal
Deposit
Insurance
Corporation (“FDIC”).
The
banking
operations
of
BPPR
are
primarily
based
in
Puerto
Rico, 
where BPPR has the largest retail banking franchise. 
●

Mainland
United
States:
We
provide
retail,
mortgage
and
commercial
banking
services
through
our
New
York-chartered 
banking subsidiary,
Popular Bank (“PB” or
“Popular U.S.”), which has
branches in New York,
New Jersey and Florida;
as well 
as investment and
insurance services, and commercial
direct financing leases through
specialized subsidiaries. PB’s deposits 
are insured under the DIF of the FDIC. 
●

BPPR
also
conducts
banking
operations
in
the
U.S.
Virgin
Islands,
the
British
Virgin
Islands
and
New
York.
In