Popular Inc. announced Monday that Popular Community Bank, its U.S. banking subsidiary, completed the previously announced sale of its California regional operations to Banc of California, National Association a wholly owned subsidiary of Banc of California Inc.
Popular Community Bank, a subsidiary of Popular Inc., has been included among the “Best Banks” in Money Magazine’s recent survey, which reviewed 70 of the nation’s largest banks for their checking, savings, and CD terms.
Popular Inc. reported Wednesday net income of $62.6 million for the third quarter ended Sept. 30, which represents a 72 percent drop when compared to the $229.1 million reported for the same year-ago period.