Banco Popular North America was established in 1999 and currently headquartered in New York, NY. Banco Popular North America became an FDIC insured institution in 1999. Popular, Inc is the parent company of Banco Popular North America. Besides banking services, Banco Popular North America also provides business services, such as cash management solutions and merchant services, as well as international services, including import and export services In August 2005, Popular completed acquisition of Quaker City Bank, establishing California as the largest region of Banco Popular North America.
FDIC Certificate #
34967
Bank Charter Class
Commercial Bank
Asset Concentration
Commercial Lending Specialization
Product Specialty
Mortgage Lending Services, Retail Financing Service
Key Information & News
Number of Branches: 141 office in the U.S.
Number of Employees: 2,078 employees.
Executives
Chairman/CEO
Richard Carrison
President
Roberto R. Herencia
President
William H. Sperling
2008 News
Banco Popular North America reportable a net loss for the quarter ended September 30, 2008 of $139.0 million, compared to a net loss of $1.1 million in the same quarter of 2007. Of the results for the quarter ended September 30, 2008, $51.7 million of those losses pertain to BPNA, while $87.4 million pertains to E-LOAN. (October 22nd, 2008).
The President of Banco Popular North America, Roberto R. Herencia said the company is undertaking staff-cutting and reorganizing measures. The unit is also planning to shut down, consolidate or sell unprofitable branches and loan offices in all its markets. (November 18th, 2008).
2009 News
Banco Popular North America reported net losses of $349.5 million for the quarter ended December 31, 2008, compared to net losses of $218.3 million in the fourth quarter of 2007. The quarterly financial results were principally impacted by an increase in the provision for loan losses of $156.4 million . (January 22nd, 2009).
