A Bronx beginning within a Puerto Rican banking group
Popular’s first mainland branch opened in the Bronx in 1961. The bank’s history places that step inside a much older Puerto Rican franchise, whose roots go back to 1893. It was a geographic expansion of an existing group, not the founding date of every legal entity that now uses the Popular name. [3]
Today’s Popular Bank is the group’s New York-chartered mainland banking subsidiary, identified by FDIC certificate 34967. The FDIC records January 2, 1999 as the establishment date for that institution. The 1961 branch opening, the wider group’s nineteenth-century heritage and this charter date answer different historical questions, and none needs to replace the others. [1][3]
A smaller map changes the business
In an April 9, 2018 announcement, Popular explained that it had refocused its mainland operations on New York, New Jersey and South Florida in 2014. The company said mainland assets had risen from about $5 billion to $9.2 billion since that change. Those are dated company-reported figures describing the reshaped mainland business, not current balances or the size of Popular’s entire group. [4]
The same account described expansion beyond traditional branch banking into private banking, residential mortgages, healthcare banking and lending to community associations. These additions help explain the strategic shift: the bank was cultivating particular customer groups and financing needs within a more concentrated geographic franchise. The company’s description of success was its own assessment, while the changes in services were concrete parts of the announced strategy. [4]
One brand does not mean one insured bank
That 2018 release announced that Popular Community Bank would adopt Popular as its public-facing name and Popular Bank as its legal name. The corporation wanted a common brand across the mainland, Puerto Rico and the Virgin Islands. It did not say the separately chartered mainland and Puerto Rico banks had merged into one institution. [4]
Popular, Inc. remains the publicly traded parent. Banco Popular de Puerto Rico is its separate Puerto Rico banking subsidiary, while Popular Bank is the mainland institution. The parent’s July 2026 results report the two operations separately. Consequently, a large public-deposit balance or a credit problem reported for the Puerto Rico segment cannot automatically be attributed to this New York bank. [3][5]
A bank serving households and specialized businesses
The current bank website describes branches in New York, New Jersey and South Florida and offers personal, business and private-client services. The 2018 account explains how healthcare and association banking had become specialized businesses alongside residential lending and private banking. Together these offerings connect everyday deposits with the borrowing and cash-management needs of businesses, property owners and affluent households. [3][4]
The June 2026 bank return gives that description financial scale: loans secured by real estate totaled $9.120 billion, compared with $0.370 billion of commercial and industrial loans. Real-estate-secured lending is a broad regulatory category, including different property types. It should not all be relabeled commercial property, nor does it establish the profitability of any particular specialty business. [2]
Mainland earnings have their own moving parts
In the July 23, 2026 results, Popular, Inc. reported $113 million of second-quarter for its Popular Bank segment, about $1 million above the previous quarter. Higher commercial-loan income and loan repricing contributed, while more expensive commercial deposits offset part of the gain. The segment’s net interest margin reached 3.17%, with deposit costs at 2.73%. These are the company’s segment measures. [5]
The same release reported about $45.6 million of nonperforming loans in its mainland presentation, up roughly $8 million from March, primarily from commercial loans. That dated increase sits alongside the earnings improvement. Neither fact alone establishes the bank’s future credit outcome, and the much larger Puerto Rico credit resolution discussed elsewhere in the release belongs to a different segment. [5]
The mainland bank at midyear
At June 30, 2026, FDIC data show $15.033 billion of assets, $11.931 billion of deposits, $11.682 billion of net loans and leases, and $2.160 billion of equity for this insured bank. Net income was $73.551 million for the first six months of 2026. The dollar fields are converted from thousands; income covers six months, rather than the second quarter alone. [2]
This bank-level snapshot makes it possible to follow the mainland institution on its own terms. The business carries the Popular group’s name and heritage, but has its own deposits, loan mix, capital and results. Its story since the mainland refocusing is one of concentrating its markets while broadening the kinds of relationships it serves. [1][2][4]
Sources
- FDIC institution directory, October 2, 2026 index; reviewed October 5Official sourceBack to text: ↑1↑2
- FDIC June 30, 2026 bank financials; dollar fields in thousands; income year to dateOfficial sourceBack to text: ↑1↑2↑3
- Popular Bank institutional history and current footprint, undated; reviewed October 5, 2026SourceBack to text: ↑1↑2↑3↑4
- Popular Community Bank name-change announcement, April 9, 2018SourceBack to text: ↑1↑2↑3↑4↑5
- Popular, Inc. second-quarter 2026 results, July 23, 2026; Popular Bank segment distinguished from BPPRSourceBack to text: ↑1↑2↑3