Popular, Inc. (Holding company only) Financial Information

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 41 -Popular, Inc. (holding company only) financial information

The following condensed financial information presents the financial position of Popular, Inc. Holding Company only at December 31, 2011and 2010, and the results of its operations and cash flows for each of the three years in the period ended December 31, 2011.

Statements of Condition
		December 31,
(In thousands)		2011		2010
ASSETS
Cash	$	6,365	$	1,638
Money market investments		42,239		1
Investments securities available-for-sale, at fair value		35,700		35,263
Investments securities held-to-maturity, at amortized cost (includes $185,000 in
subordinated notes from BPPR)		185,000		210,872
Other investment securities, at lower of cost or realizable value		10,850		10,850
Investment in BPPR and subsidiaries, at equity		2,626,951		2,521,684
Investment in Popular International Bank and subsidiaries, at equity		1,241,170		1,193,413
Investment in other subsidiaries, at equity		119,166		121,161
Advances to subsidiaries		193,900		412,200
Loans to affiliates		53,214		61,460
Loans		2,501		2,422
Less - Allowance for loan losses		8		60
Premises and equipment		2,533		2,830
Investments in equity investees		195,193		181,009
Other assets		24,750		67,264
Total assets	$	4,739,524	$	4,822,007
LIABILITIES AND STOCKHOLDERS' EQUITY
Notes payable		760,849		835,793
Accrued expenses and other liabilities		59,922		185,683
Stockholders’ equity		3,918,753		3,800,531
Total liabilities and stockholders’ equity	$	4,739,524	$	4,822,007

Statements of Operations
			Year ended December 31,
(In thousands)			2011		2010		2009
Income:
	Dividends from subsidiaries	$	20,000	$	168,100	$	160,625
	Interest on money market		8		55		109
	Interest on investments securities		16,224		23,579		37,120
	Gain on sale of processing and technology business		-		640,802		-
	Earnings from investments under the equity method		14,186		3,402		692
	Other operating income (loss)		8,959		(120)		-
	Gain on sale and valuation adjustment of investment securities		-		-		3,008
	Interest on advances to subsidiaries		4,847		5,739		8,133
	Interest on loans to affiliates		3,831		1,738		888
	Interest on loans		235		150		127
Total income			68,290		843,445		210,702
Expenses:
	Interest expense		94,615		111,809		74,980
	Loss (gain) on early extinguishment of debt		8,000		15,750		(26,439)
	Operating expenses		1,066		35,923		7,018
Total expenses			103,681		163,482		55,559
(Loss) income before income taxes and equity in undistributed
	earnings (losses) of subsidiaries		(35,391)		679,963		155,143
Income taxes			2,786		80,444		(891)
(Loss) income before equity in undistributed earnings (losses) of subsidiaries			(38,177)		599,519		156,034
Equity in undistributed earnings (losses) of subsidiaries			189,502		(462,118)		(729,953)
Net income (loss)		$	151,325	$	137,401	$	(573,919)

Statements of Cash Flows
				Year ended December 31,
(In thousands)				2011		2010		2009
Cash flows from operating activities:
Net income (loss)			$	151,325	$	137,401	$	(573,919)
Adjustments to reconcile net income (loss) to net cash (used in) provided
	by operating activities:
	Equity in undistributed (earnings) losses of subsidiaries
		and dividends from subsidiaries		(189,502)		462,118		729,953
	Net accretion of discounts and amortization of premiums and deferred fees			25,042		21,282		7,100
	Earnings from investments under the equity method			(14,186)		(3,402)		(692)
	Stock options expense			-		-		91
	Deferred income tax expense (benefit)			13,965		8,831		(1,850)
	(Gain) loss on:
		Early extinguishment of debt		-		-		(26,439)
		Sale and valuation adjustments of investment securities		-		-		(3,008)
		Sale of equity method investments		(5,493)		-		-
		Sale of processing and technology business, net of transaction costs		-		(616,186)		-
	Net decrease in other assets			7,563		7,263		22,774
	Net increase (decrease) in:
		Interest payable		(3,467)		(528)		6,455
		Other liabilities		(84,434)		42,578		(1,797)
Total adjustments				(250,512)		(78,044)		732,587
Net cash (used in) provided by operating activities				(99,187)		59,357		158,668
Cash flows from investing activities:
	Net (increase) decrease in money market investments			(42,237)		49		89,643
	Purchases of investment securities:
		Available-for-sale		-		(35,000)		(249,603)
		Held-to-maturity		(37,093)		(52,796)		(51,539)
	Proceeds from calls, paydowns, maturities and redemptions of investment securities:
		Available-for-sale		-		-		14,226
		Held-to-maturity		62,980		297,747		27,318
	Proceeds from sale of investment securities:
		Available-for-sale		-		-		426,666
	Capital contribution to subsidiaries			-		(1,345,000)		(940,000)
	Transfer of shares of a subsidiary			-		-		(42,971)
	Net change in advances to subsidiaries and affiliates			226,546		(366,394)		714,000
	Net (disbursements) repayments on loans			(131)		(56)		3,578
	Net proceeds from sale of equity method investments			(10,690)		-		-
	Net proceeds from sale of processing and technology business			-		617,976		-
	Acquisition of premises and equipment			(594)		(890)		(310)
	Proceeds from sale of:
		Premises and equipment		135		183		14,943
		Foreclosed assets		-		74		47
Net cash provided by (used in) investing activities				198,916		(884,107)		5,998
Cash flows from financing activities:
	Net increase (decrease) in:
		Federal funds purchased and assets sold under agreements to repurchase		-		-		(44,471)
		Other short-term borrowings		-		(24,225)		(18,544)
	Payments of notes payable and subordinated notes			(100,000)		(250,000)		-
	Proceeds from issuance of common stock			7,690		153		-
	Net proceeds from issuance of depositary shares			-		1,100,155		-
	Dividends paid			(3,723)		(310)		(71,438)
	Issuance costs and fees paid on exchange of preferred stock and trust preferred
		securities		-		-		(29,024)
	Treasury stock acquired			(483)		(559)		(17)
	Return of capital			1,514		-		-
Net cash (used in) provided by financing activities				(95,002)		825,214		(163,494)
Net increase in cash and due from banks				4,727		464		1,172
Cash and due from banks at beginning of period				1,638		1,174		2
Cash and due from banks at end of period			$	6,365	$	1,638	$	1,174

Notes payable at December 31, 2011 mature as follows:

Year		(In thousands)
2012	$	-
2013		-
2014		-
2015		-
2016		-
Later years		290,812
No stated maturity		936,000
Subtotal		1,226,812
Less: Discount		(465,963)
Total	$	760,849