Overview Key strengths Key risks Largest bank in Puerto Rico with a strong local market position Persistently high nonperforming loans, though decreasing in recent years High regulatory capital levels, though its tangible common equity ratio is lower than some regional bank peers High geographic concentration in Puerto Rico, which has underperformed the mainland U.S. Strong deposit market share in Puerto Rico helps stabilize funding stability Historically higher credit losses than most peers, though recently improved Popular maintains more than 60% of the deposit market share in Puerto Rico, and at $67.7 billion of total assets as of March 31, 2023, is several times larger than its direct competitors, First Bancorp. ($19 billion) and OFG Bancorp ($10 billion). In addition, Popular
