Popular Community Bank changes name to Popular
Popular Community Bank, a subsidiary of Popular Inc., announced its new name, Popular, and new legal name, Popular Bank.
The new name “aligns with Popular’s strategic growth, expanded capabilities and launch of several business platforms designed to attract diverse consumer and business segments,” executives said.
As a result of the rebranding initiative, the corporation now operates under a single brand, “Popular,” throughout all its regions — United States mainland, Puerto Rico and U.S. Virgin Islands — for the first time in the corporation’s history.
Popular has evolved over the last few years, refocusing on New York, New Jersey and South Florida. Since that change in 2014, Popular has almost doubled its assets in the U.S. Mainland from $5 billion to $9.2 billion.
In addition to becoming a leaner, more focused organization, Popular has achieved strong loan growth and implemented an ongoing transformation of its branch network to better serve customers.
Popular has continued to diversify its customer base with the launch of a new private banking platform, the expansion of its residential mortgage business and the phenomenal success of its healthcare and association banking niche businesses.
“We have made great strides in bringing our operations closer together. Popular in the U.S. represents 22 percent of our total assets and is a main source of growth for Popular, Inc. Together, we are a dynamic organization that works constantly to provide meaningful solutions for our customers,” said Ignacio Álvarez, president of Popular Inc.
As part of the rebranding initiative, Popular unveiled a new tagline — “Our bottom line is you” and a new customer value proposition, to continue to be a customer’s at-the-ready advocate, enabling them to focus on what matters most to them.
“Our new name coupled with our agility and comprehensive platform, gives us a distinct opportunity to deliver on a value proposition centered around service and customer experience,” said Manuel Chinea, COO of Popular.
“With the expansion of Popular’s capabilities beyond those typical of community banks, the time had come to evolve our brand,” he said.