Bailout Bank Bio: Popular, Inc.

Mar 18, 2009 | 3 min read | Print Article

Popular, Inc. is a diversified bank holding company. The company operates in three target markets: Puerto Rico, the mainland United States, and processing and other technology services in Puerto Rico, Venezuela, Florida and the Dominican Republic. In Puerto Rico it offers an array of retail and commercial banking services through its principal bank subsidiary, Banco Popular de Puerto Rico (Banco Popular or the Bank), with 196 branches and over 615 ATMs. The bank operates over 90 branches in the U.S. and also operates seven branches in the United States Virgin Islands, one branch in the British Virgin Islands and one branch in New York.

According to Fortune’s annual ranking for 2008, Popular is among the top 25 largest commercial banks in the U.S., and is among the top 1,000 largest of all U.S. corporations. Like many banks, Popular recently reported a 4^thquarter loss, which was much lower than analysts expected and has sent the bank’s stock value plummeting. In November Popular received approval to participate in the Treasury Department’s Capital Purchase Program. In January the bank began participating in the program, receiving $935 million form the Treasury in exchange for preferred stock and warrants.

Resources

Bank Bio Chart | Financial Documents | Federal contracts

Lobbying reports | Political Contributions | Related Articles

Bailout Bank Bio: Popular


Federal Equity Investment	$935 million
Total Revenue	$3.86 billion (2007) $3.10 billion (2008)
Net Income	-$64.5 million (2007) -$1.24 billion (2008)
Number of Employees	12,303
Corporate Headquarters	Hato Rey, Puerto Rico
Business Sector	Bank
Officers and Directors	Carrion, Richard, Chairman of the Board, Chief Executive Officer of the Corporation and the Bank Other Officers and Directors
Corporate Website	http://www.popularinc.com
Executive Compensation	Popular, Inc.