On April 19, Popular
- 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 |
$357,286 |
0.7 |
|
Net Profit |
-- |
$118,503 |
$162,879 |
(27.2) |
|
EPS |
$0.40 |
$0.42 |
$0.60 |
(30) |
Get back to basics with a look at the income statement.
Ratio Checkup
|
Q1 2006 |
Q1 2005 |
% |
|
|---|---|---|---|
|
Net Interest Margin |
3.15% |
3.36% |
(0.21) |
|
Efficiency Ratio* |
71.02% |
61.10% |
9.92 |
|
Nonperforming Assets/Assets |
1.37% |
1.42% |
(0.04) |
|
Return on Average Assets |
1.02% |
1.43% |
(0.41) |
|
Return on Average Equity |
14.04% |
21.62% |
(7.58) |
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 |
% Change |
|---|---|---|---|
|
Deposits |
$23,412 |
$21,729 |
7.7 |
|
Total Liabilities |
$45,104 |
$42,103 |
7.1 |
Related Companies:
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Doral
(NYSE:DRL) -
First Bancorp
(NYSE:FBP) -
R&G Financial
(NYSE:RGF) -
W Holdings
(NYSE:WHI) -
Bank of America
(NYSE:BAC)
Related Foolishness:
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At the time of publication , Joseph Khattab had no position in the companies mentioned. Fool rules are here .
