By
Joseph Khattab
|
More Articles
April 19, 2006
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On April 19, Popular (Nasdaq: BPOP ) released Q1 2006 earnings for the period ended March 31, 2006.
- The 30% drop in earnings per share was in line with analyst expectations. Unusually large securities gains in the prior quarter make comparisons difficult.
- Increased operating expenses from the acquisition of E-Loan caused the efficiency ratio* to jump almost 10%.
- Net interest margin dropped 21 basis points because of higher deposits costs and a flattened yield curve.
- Time deposits accounted for most of the 8% increase in total deposits.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Avg. Est.
|
Q1 2006
|
Q1 2005
|
% Change
|
|
Total Revenue
|
--
|
$539,650
|
$518,539
|
4.1
|
|
Net Interest Income
|
--
|
$359,764
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$357,286
|
0.7
|
|
Net Profit
|
--
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$118,503
|
$162,879
|
(27.2)
|
|
EPS
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$0.40
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$0.42
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$0.60
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(30)
|
Get back to basics with a look at the income statement.
Ratio Checkup
|
Q1 2006
|
Q1 2005
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%
Change
|
|
Net Interest Margin
|
3.15%
|
3.36%
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(0.21)
|
|
Efficiency Ratio*
|
71.02%
|
61.10%
|
9.92
|
|
Nonperforming Assets/Assets
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1.37%
|
1.42%
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(0.04)
|
|
Return on Average Assets
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1.02%
|
1.43%
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(0.41)
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|
Return on Average Equity
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14.04%
|
21.62%
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(7.58)
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*Calculated by me as non-interest expense/total revenue.
Get the scoop on bank ratios.
Balance Sheet Highlights
|
Assets
|
Q1 2006
|
Q1 2005
|
% Change
|
|
Earning Assets
|
$45,090
|
$42,282
|
6.6
|
|
Loans
|
$31,430
|
$29,428
|
6.8
|
|
Liabilities
|
Q1 2006
|
Q1 2005
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% Change
|
|
Deposits
|
$23,412
|
$21,729
|
7.7
|
|
Total Liabilities
|
$45,104
|
$42,103
|
7.1
|
Related Companies:
-
Doral (NYSE: DRL )
-
First Bancorp (NYSE: FBP )
-
R&G Financial (NYSE: RGF )
-
W Holdings (NYSE: WHI )
-
Bank of America (NYSE: BAC )
Related Foolishness:
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
Popular and Bank of America are Motley Fool Income Investor recommendations. Take the newsletter dedicated to top-shelf stocks at bargain-basement prices for a 30-day free spin.
At the time of publication
, Joseph Khattab
had no position in the companies mentioned. Fool rules are
here
.
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