- Business
- Popular Capital Trust I PFD 6.70% GTD (BPOPN) operates as a special purpose financing entity established by Popular, Inc., a diversified financial institution focused on retail banking, commercial banking, and financial services. The trust issues preferred securities, including the 6.70% guaranteed preferred stock (ticker: BPOPN), which are fully and unconditionally guaranteed by Popular, Inc. on a subordinated basis, providing investors with fixed-rate income through quarterly dividends; these securities support Popular, Inc.'s capital structure and funding needs without direct operational activities by the trust itself. Popular, Inc., the parent company and guarantor, offers a comprehensive suite of banking products and services, including deposit accounts such as checking, savings, and certificates of deposit; consumer lending encompassing mortgages, auto loans, personal loans, and credit cards; commercial lending for small and medium enterprises, including lines of credit, term loans, and real estate financing; wealth management services through trust, investment advisory, retirement planning, and brokerage; and digital banking platforms with mobile apps, online bill pay, and payment solutions. The company targets individual consumers, small businesses, middle-market corporations, and institutional clients primarily in Puerto Rico, the United States mainland (Florida and New York), and select Latin American markets including Costa Rica, Panama, and the Dominican Republic; founded in 1893 as Banco Popular de Puerto Rico, it maintains dual headquarters in San Juan, Puerto Rico, and Hato Rey, Puerto Rico, with Popular, Inc. incorporated in Delaware and listed on the NASDAQ (ticker: BPOP). In recent developments, Popular, Inc. completed the acquisition of certain assets from FirstBank Puerto Rico in late 2024, expanding its branch network and deposit franchise in key Puerto Rican markets; announced a strategic alliance with fintech firm Evertec in early 2025 to enhance digital payment processing and merchant services across the Caribbean; launched new sustainable lending products focused on green energy projects in Puerto Rico amid post-hurricane recovery efforts; and raised approximately $500 million through a senior notes offering in Q3 2025 to bolster liquidity and support expansion into U.S. Hispanic markets. Subsidiaries include Banco Popular North America, EVERTEC (a partial ownership in payment processing), and various trust and investment arms, positioning Popular, Inc. as a leading bank holding company in the Caribbean and U.S. Hispanic banking segments with total assets exceeding $70 billion as of late 2025.