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Banco Popular – The Leading Banking Solutions Provider in the United States
Banco Popular or Popular Inc. is one of the most prominent financial service provider across the US. It was established in the United States in 1961. The company has its strong presence with 50 branches across 3 US states –New York, New Jersey, and Florida. It is ranked amongst the top 50 banks in the U.S.A. by assets. Banco Popular has more than 1.5 Million business and individual clients.
Banco Popular was recently rebranded as Popular Community Bank. It provides 35, 000 fee ATMs across the U.S. They recently announced their third quarter of 2016 results. The highlights were –
- Net Income of $46.8 Million
- Adjusted net income of $94.6 Million.
- Book Value per Common Share of $51.85
- Common Equity Tier 1 ratio of 16.64%
Occupying an overall 1,183rd rank in the Global 2000 list of Forbes, the company, 686th position in terms of profit, and 693th position in terms of assets value as per the analysis of the Magazine. Moreover, according to Forbes, the company is valued at $3.1 Billion.
As per the financial analysis report, the sales of the company are at $2.15 Billion. It is a public sector company registered in NYSE (New York Stock Exchange) under the ticker of BPOP. At present, the net interest income $ 353.7 Million for the third quarter.
Apart from Popular Community Bank, Popular Inc. also ventures in other areas. Popular Association Banking (PAB) is one such organizational part. PAB is a leader in the industry in terms providing services to condominiums and financial products. E-Loan, a web-based loan referral, is Popular Inc.’s internet banking subsidiary. E-Loan offers secure savings and CD accounts online.
When we talk about the growth and revenue of the company, the analysis remains incomplete without the mention of the number of employees involved in it. Under the visionary guidance of its current CEO Richard Carrion Rexach, the company currently, has a huge team of 7,810 employees who are all responsible for the overall growth of the company over the years.
The history behind the success
In 1893, the first opened bank was in Puerto Rico. It served as a building platform for the over the billion dollar company it is today. Popular Bank’s first branch in the U.S. was opened in New York City with the purpose to serve the Puerto Rican community first. 1998, Chicago was made the headquarters for the US Executive Offices. These were the banks which were acquired by Popular Bank –
- 1984 – Popular Bank took over Washington National Bank.
- 1991 – New York Capital Bank.
- 1994 – Popular bought Pioneer Bank.
- 1996 – American Midwest Bank.
- 1997 – Seminole Bank branch in Sanford, Florida.
- 1999 – First State Bank of Southern California.
- 2005 – Quaker City Bank.
Giving back to the society –
Popular Community Bank gives back to the society in more ways than one. A lot of their programs are dedicated to making the next generation healthy along with taking care of the present and the previous generation. Some of the initiatives taken by the company are listed below –
- Junior Achievement – Popular Community Bank employees volunteer with Junior Achievement to help educate and inspire young people to value free enterprise, responsible business, and economic development as a means to improve their lives and communities.
- ACCION – ACCION is a non-profit, community-based organization whose mission is to make access to capital a permanent resource for small business owners.
- Operation HOPE – It promotes financial dignity through the delivery of financial inclusion and education tools to underserved communities. With their Banking on Our Future program, Popular Community Bank employees volunteer in teaching students of the tools they need to take control of their financial futures.
Banco Popular Properties For Sale Across the United States:
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming