Popular Bank

What Popular Bank does

Popular Bank is the mainland U.S. banking subsidiary of Popular, Inc. (NASDAQ: BPOP), a Puerto Rico-incorporated financial services company founded in 1893. Popular Bank itself opened its first branch in the Bronx in 1961 and now operates as a New York state-chartered, FDIC-insured bank headquartered at 85 Broad Street in New York City, with 40+ branches spanning New York, New Jersey, and South Florida. The bank serves individual consumers, small and medium businesses, commercial real estate developers, homeowner and condo associations, and high-net-worth clients through its Popular Private Client sub-brand, with bilingual English/Spanish services targeting Hispanic markets.

The bank's product portfolio spans four checking tiers (Easy Access Bank On-certified, Everyday, Prestige, and Palladium), savings accounts, tiered CDs (up to 4.10% APY for $1MM+ deposits as of June 2026), money market accounts, IRAs, eight credit card products, personal loans, home equity lines of credit, and Popular Investments wealth offerings. Business banking includes checking, cash management, payroll solutions, working capital loans, and commercial real estate lending (bridge and construction). Digital infrastructure comprises a web-based online banking platform and iOS/Android mobile apps with Zelle P2P payments and mobile deposit; distribution is augmented by the Allpoint network providing 55,000+ surcharge-free ATMs worldwide and Clover POS partnerships for merchants.

Revenue is generated through five streams: interest income on loans (personal, HELOC, commercial real estate), deposit account fees (monthly service, overdraft), credit card interchange and interest, investment product fees, and business banking services. Recent operational actions include exiting the U.S. mortgage business and closing four New York metro branches (Q3 2025) alongside leadership transitions effective July 2026, signaling a profitability-focused restructuring under new CEO Javier Ferrer.

Name

Popular Bank

Legal name

Popular Bank

Website

https://popularbank.com

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Popular Bank is the U.S. mainland banking subsidiary of Popular, Inc. (NASDAQ: BPOP), operating 40+ branches across New York, New Jersey, and South Florida. It provides consumer banking, small business services, commercial real estate lending, and private client wealth management to individuals, SMBs, and developers.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE), Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Credit Cards & Revolving Credit (FSABAAAC), Affluent/Premier Retail Banking (Mass Affluent) (FSABAAAG), Real Estate (Commercial Property, REITs) (FSABACAH), Bank-Affiliated Retail Wealth Management (FSAAAAAB)

Keywords

• Retail banking services
• Consumer banking
• Commercial real estate lending
• Private banking
• Wealth management

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Revenue generated from interest earned on loans including personal loans, home equity lines of credit, commercial real estate loans, and other credit products
2. Deposit Account Fees: Monthly service fees, overdraft fees, and other account-related charges from checking and savings accounts
3. Credit Card Revenue: Revenue from eight credit card product offerings including interchange fees and interest charges
4. Investment Products: Revenue from investment products including Popular Investments, stocks, bonds, mutual funds, annuities, and insurance offerings
5. Business Banking Services: Business checking accounts, working capital loans, merchant services (Clover), payroll solutions, and commercial lending including bridge loans and construction financing

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Popular Bank provides retail and commercial banking products and services, including checking and savings accounts, certificates of deposit, money market accounts, IRAs, credit cards, personal loans, home equity lines of credit, business checking, cash management, payroll solutions, and commercial real estate lending. The bank also offers investment and private client (wealth) services through Popular Investments and Popular Private Client, distributed via 40+ branches in New York, New Jersey, and South Florida, and through online and mobile banking channels.

Product overview

Popular Bank is a full-service financial services provider offering a comprehensive portfolio of consumer and business banking products through its U.S. subsidiary of Popular, Inc. The core banking platform encompasses personal checking (Easy Access, Everyday, Prestige, and Palladium Checking tiers), savings accounts (Popular Savings, tiered CDs with rates up to 4.10% APY, Money Market, and IRA accounts), credit products (8 credit card options, personal loans, home equity lines of credit), and a Popular Mastercard debit card with extensive ATM access. Digital banking is delivered via Online Banking and Mobile Banking apps with Zelle integration for P2P payments. Business banking includes dedicated checking, cash management, payroll solutions, and commercial real estate lending. Premium services are offered through Popular Private Client (featuring Palladium Checking) and Popular Investments for wealth management. The bank operates 40 branches across New York, New Jersey, and South Florida, with access to over 55,000 Allpoint ATMs worldwide, and integrates Clover POS for merchant services.

Differentiator

Problem solved

Functional benefit

Brands

• Popular Private Client: Exclusive private banking experience offering concierge banking, VIP service, and exclusive events for high-net-worth clients.
• Popular Investments
• Popular Easy Access Checking
• Popular Everyday Checking
• Popular Prestige Checking
• Popular Palladium Checking
• Popular Savings
• Popular CD
• Popular Saver Money Market
• Popular IRA

Products and services

• Popular Easy Access Checking Bank On-certified, low-fee basic checking account for everyday transactions; $3 monthly fee avoidable with $250 recurring direct deposit; no overdraft coverage (transactions declined with no fee).
• Popular Everyday Checking Flexible everyday checking account with overdraft coverage available; $10 monthly fee avoidable with $1,000 average balance or $750 direct deposit; $34 overdraft fee for transactions over $50; includes bill pay and direct deposit.
• Popular Prestige Checking Premium interest-earning checking account for higher-balance customers; $12 monthly fee avoidable with $2,000 average balance; no fees for incoming wires, stop payments, or worldwide ATM transactions; includes fee rebates.
• Palladium Checking Most exclusive checking account and signature feature of Popular Private Client; offers the best available rates, VIP service, concierge banking, and exclusive events for high-net-worth clients.
• Popular Savings Essential savings account with $25 minimum to open; $4 monthly service fee avoidable with $500 average monthly balance; limited to six no-cost withdrawals per statement cycle.
• Popular CD (Certificate of Deposit) High-yield certificate of deposit with $1,000 minimum to open; tiered APY from 3.95% ($250K–$999K) to 4.10% ($1MM+) as of June 2026; penalty for early withdrawal; automatic renewal at maturity.
• Popular Saver Money Market High-yield money market account with $10,000 minimum to open; $15 monthly service fee avoidable with $10,000 minimum daily balance; higher yield while maintaining access to funds.
• Popular IRA Individual Retirement Account available as Roth or Traditional IRA; terms from 18 months to 10 years; CD IRA requires $500 minimum, Special IRA requires $100 minimum; designed for long-term retirement savings.
• Personal Loans Personal financing solutions to consolidate debt, build credit, and meet other borrowing needs for individual consumers.
• Home Equity Line of Credit Line of credit secured by home equity, allowing customers to tap into their property value for financing needs such as home improvements or debt consolidation.
• Credit Cards Portfolio of eight credit card options offering various benefits to suit different financial needs and spending habits; revenue from interchange fees and interest charges.
• Popular Mastercard Debit Card Mastercard debit card included with all Popular Bank checking accounts; provides surcharge-free access to Popular Bank ATMs and over 55,000 Allpoint ATMs worldwide; chip technology for enhanced security.
• Business Checking Accounts Business checking accounts with dedicated banker support; offered with a $400 cash bonus for new accounts opened April 27 – July 3, 2026 with qualifying activities ($2,500 average balance for 120 days, 15 qualifying transactions within 3 months).
• Commercial Real Estate Lending Bridge lending and construction financing for commercial real estate developers, with recent deals including a $10 million bridge loan for a 71-unit multifamily in Little Havana and a $32.4 million construction loan for a 312-unit multifamily in Naranja, Miami-Dade County.
• Popular Investments Investment services providing access to investment strategies and expertise through financial consultants; includes stocks, bonds, mutual funds, annuities, insurance, retirement planning, educational planning, and tax-efficient investing.
• Popular Private Client Exclusive private banking experience offering bespoke financial services including Palladium Checking, concierge banking, VIP service, and exclusive events for high-net-worth clients.
• Online and Mobile Banking 24/7 digital access to Popular Bank accounts via web platform and iOS/Android mobile app; enables Zelle payments, mobile check deposits, account monitoring, bill pay, and fund transfers.

Quantifiable outcome

• Q1 2026 net income of $245.7 million, up 38% year-over-year
• +4 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• AllpointcoreTechnology or IntegrationPartnership with Allpoint ATM Network providing Popular Bank customers access to over 55,000 surcharge-free ATMs worldwide. Allpoint ATMs are located at major retailers including Target, Costco, Walgreens, CVS, 7-Eleven, Circle K, and Speedway. Popular Bank customers enjoy zero surcharge fees at all Allpoint locations.
• ClovercoreChannel Partner/ Reseller/ DistributorPartnership with Clover Network LLC for merchant point-of-sale services. Clover helps Popular Bank business clients optimize billing, manage invoices, and accept payments. The offering includes 90-day free trial of Clover Essentials or Services Growth plan for qualified merchants, plus $450 rebate toward Clover hardware purchase. Targeted at professional practices and business services.
• First Data Merchant Services LLCcoreChannel Partner/ Reseller/ DistributorFirst Data Merchant Services LLC processes merchant services accounts for Popular Bank's Clover POS offerings. New accounts require standard credit approval and underwriting. First Data determines eligibility for merchant promotions and rebates.
• Early Warning Services, LLC (Zelle)coreTechnology or IntegrationPopular Bank offers Zelle for quick and easy money transfers. Customers can send and receive money directly from the Popular Mobile Banking app to people they trust. Zelle and related marks are owned by Early Warning Services, LLC.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Flagstar Financial (formerly New York Community Bancorp): NY metro-focused commercial bank with branch-based retail and multifamily CRE lending — direct competitor for Popular's legacy Bronx/NY metro deposit base and commercial real estate book.
• Valley National Bank: Regional bank with comparable NY/NJ/FL branch footprint, full-service consumer and commercial banking, and similar asset size — directly comparable across deposit products, CRE lending, and small-business banking.
• BankUnited: Florida-headquartered regional commercial bank with strong South Florida presence and similar business banking, CRE lending, and consumer deposit franchise — the most direct geographic overlap with Popular Bank's core footprint.
• Flushing Financial: NY metro community bank with similar multigenerational, community-rooted deposit-gathering model and CRE lending exposure — comparable in scale, customer mix, and branch strategy.
• ConnectOne Bancorp: New Jersey-headquartered community bank with full-service consumer/business banking and CRE lending — comparable in scale, geographic overlap in NJ, and relationship-banking orientation.
• Dime Community Bancshares: New York-focused commercial bank with comparable consumer and small-business banking focus in the same metro — a direct competitor for deposit and CRE relationships in Popular's home market.

Emerging players

• Cathay Bank: Community-oriented commercial bank serving Asian-American and immigrant communities with multilingual service — comparable niche-ethnic community banking model and multigenerational relationship approach, though West Coast-focused.
• Ponce Bank: NY-based community bank focused on Hispanic and immigrant communities with bilingual services — shares Popular's ethnic-niche banking DNA at smaller scale, competing for the same customer segment in the NY metro.

Regional players

• First Bank (New Jersey): New Jersey-based community commercial bank with similar full-service consumer and business banking, including CRE lending — directly comparable in scale and NJ market overlap, though with a more limited branch network.

Broad incumbents

• TD Bank (TD Bank N.A.): Large U.S. subsidiary of Toronto-Dominion Bank with dense NY/NJ/FL branch presence competing head-to-head for consumer deposits and small-business banking — broader incumbent rather than a niche specialist.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/popularbank
• Facebookfacebook.com/popularbank
• LinkedInlinkedin.com/company/popularbank
• Instagraminstagram.com/popularbank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Popular Bank