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<P align="center"><FONT size="2">SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</FONT>

<P align="center"><FONT size="2"><B>__________________</B></FONT>

<P align="center"><FONT size="2"><B>FORM S-8</B></FONT>

<P align="center"><FONT size="2">REGISTRATION STATEMENT<BR>
Under<BR>
THE SECURITIES ACT OF 1933<BR>
<B>__________________</B></FONT>

<P align="center"><FONT size="2"><B>POPULAR, INC.</B><BR>
(Exact name of registrant as specified in its charter)</FONT>

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        <TD width="50%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
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<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>Puerto Rico</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>66-0416582</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(I.R.S. employer<BR>
identification no.)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">209 Mu&#241;oz Rivera Avenue<BR>
Hato Rey, Puerto Rico</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="bottom"><FONT size="2">
00918</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(Address of principal executive offices)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(Zip code)</FONT></TD>
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<P align="center"><FONT size="2"><B>EQUITY ONE, INC. SAVINGS &#038; RETIREMENT PLAN</B><BR>
(Full title of the plan)<BR>
<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>
</FONT>

<P align="center"><FONT size="2"><B>__________________</B></FONT>

<P align="center"><FONT size="2"><B>Jorge A. Junquera<BR>
209 Mu&#241;oz Rivera Avenue<BR>
Hato Rey, Puerto Rico 00918</B><BR>
(Name and address of agent for service)
</FONT>
<P align="center"><FONT size="2"><B>(787)&nbsp;765-9800</B><BR>
(Telephone number, including area code, of agent for service<B>)<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>
</FONT>

<P align="center"><FONT size="2"><B>__________________</B></FONT>

<P align="center"><FONT size="2">Copies to:
</FONT>
<P align="center"><FONT size="2"><B>Donald J. Toumey<BR>
Sullivan &#038; Cromwell<BR>
125 Broad Street<BR>
New York, New York 10004<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>
</FONT>

<P align="center"><FONT size="2"><B>__________________</B></FONT>

<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B>
</FONT>
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        <TD width="30%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="8%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="9%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" colspan="17"><FONT size="2"><hr size="4" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Title of each Class</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>of Securities to be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount to be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price Per</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered(1)(2)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Share(3)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price(3)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration Fee</B></FONT></TD>
</TR>
<TR>
        <TD colspan="17" align="left"><DIV style="margin-left:10px; text-indent:-10px"><HR size="1" noshade></DIV></TD>
</TR>
<TR valign="bottom">
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Common Stock, par
value $6 per share,
together with
attached rights to
purchase Series&nbsp;A
Participating
Cumulative
Preferred Stock, no
par value</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" align="center"><FONT size="2">500,000 Shares</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">31.65</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">15,825,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">1,455.90</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" colspan="17"><FONT size="2"><hr size="4" noshade></FONT></TD>
</TR>
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      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The amount being registered also includes an indeterminate number of
shares of Common Stock which may be issuable as a result of stock splits,
stock dividends and antidilution provisions and other terms, in accordance
with Rule&nbsp;416 under the Securities Act.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">In addition, pursuant to Rule&nbsp;416(c) under the Securities Act of 1933, as
amended, this Registration Statement also covers an indeterminate amount
of interests to be offered and sold pursuant to the Equity One, Inc.
Savings &#038; Retirement Plan.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(3)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of calculating the registration fee.
Such estimate has been computed in accordance with<BR>
Rule 457(h) based upon
the average of the high and low price of the Common Stock on the NASDAQ
National Market System on October&nbsp;30, 2002, namely $31.65.</FONT></TD>
</TR>
</TABLE>
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">INFORMATION REQUIRED IN THE PROSPECTUS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">PART II</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">Item 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">Item 4. DESCRIPTION OF CAPITAL STOCK</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">Item 7. EXEMPTION FROM REGISTRATION CLAIMED</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">Item 8. EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">Item 9. UNDERTAKINGS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78991exv4w4xay.txt">EX-4.4(A) BASIC SAVINGS PLAN FOR EQUITY ONE, INC.</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78991exv4w4xby.txt">EX-4.4(B) ADOPTION AGREEMENT FOR EQUITY ONE, INC.</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78991exv4w4xcy.txt">EX-4.4(C) BANKERS TRUST COMPANY CUSTODIAL TRUST</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78991exv4w4xdy.txt">EX-4.4(D) AMENDMENT NO. 1 FOR EQUITY ONE SAVINGS</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78991exv5.txt">EX-5 OPINION OF PIETRANTONI MENDEZ & ALVAREZ LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78991exv23w1.txt">EX-23.1 CONSENT OF INDEPENDENT ACCOUNTANTS</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78991exv23w2.txt">EX-23.2 CONSENT OF INDEPENDENT ACCOUNTANTS</A></TD></TR>
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<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART I</B></FONT>

<!-- link1 "INFORMATION REQUIRED IN THE PROSPECTUS" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE PROSPECTUS</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As permitted by Rule&nbsp;428 under the Securities Act of 1933, as
amended (the &#147;Securities Act&#148;), this Registration Statement omits the
information specified in Part I of Form&nbsp;S-8. The documents containing the
information specified in Part I will be delivered to the participants in
the plan covered by this Registration Statement as required by Rule
428(b). Such documents are not being filed with the Securities and
Exchange Commission (the &#147;Commission&#148;) as part of this Registration
Statement or as prospectuses or prospectus supplements pursuant to Rule
424 under the Securities Act.
</FONT>
<P align="center"><FONT size="2">&nbsp;</FONT>
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<DIV align="left"><A NAME="002"></A></DIV>

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<DIV align="left"><A NAME="003"></A></DIV>

<P align="center"><FONT size="2"><B>PART II</B></FONT>


<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT>

<P align="left"><FONT size="2"><B>Item&nbsp;3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the Commission by Popular, Inc.
(the &#147;Company&#148;) and the Equity One, Inc. Savings &#038; Retirement Plan (the
&#147;Plan&#148;) are incorporated herein by reference:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp; The Company&#146;s Annual Report on Form&nbsp;10-K for the fiscal year
ended December&nbsp;31, 2001 (File No.&nbsp;0-13818);
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp; The Annual Report on Form&nbsp;11-K for the year ended December&nbsp;31,
2001 for the Equity One, Inc. Savings &#038; Retirement Plan (File No.
0-13818);
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp; The Company&#146;s Quarterly Reports on Form&nbsp;10-Q for the quarters
ended March&nbsp;31, 2002, June&nbsp;30, 2002 and September 30, 2002. (File No.
0-13818);
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp; The Company&#146;s Current Reports on Form&nbsp;8-K filed with the
Commission on January&nbsp;11, 2002, April&nbsp;12, 2002, May&nbsp;16, 2002, July&nbsp;11,
2002, August&nbsp;15, 2002 and October&nbsp;10, 2002 (File No.&nbsp;0-13818);
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp; The description of the Company&#146;s Common Stock set forth in the
Company&#146;s Registration Statement on Form&nbsp;8-A, filed with the Commission
on August&nbsp;18, 1988 (File No.&nbsp;0-13818), and any amendment or report filed
for the purpose of updating any such description; and
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp; The description of the Company&#146;s Stockholder Protection Rights
Agreement set forth in the Company&#146;s Registration Statement on Form&nbsp;8-A
(File No.&nbsp;0-13818), filed with the Commission on August&nbsp;28, 1998, and any
amendment or report filed for the purpose of updating such description.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Company and the Plan pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as
amended (the &#147;Exchange Act&#148;), subsequent to the date of this Registration
Statement and prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters
all securities then remaining unsold shall be deemed to be incorporated
by reference in this Registration Statement and to be a part hereof from
the date of filing of such documents. Any statement contained in a
document incorporated or deemed to be incorporated by reference herein
shall be deemed to be modified or superseded for purposes of this
Registration Statement to the extent that a statement contained herein or
in any other subsequently filed document which also is or is deemed to be
incorporated by reference herein modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this Registration
Statement.
</FONT>
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<DIV align="left"><A NAME="004"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;4. DESCRIPTION OF CAPITAL STOCK</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable. The Company&#146;s Common Stock is registered under
Section&nbsp;12 of the Exchange Act.
</FONT>
<P align="center"><FONT size="2">&nbsp;</FONT>
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<!-- link1 "Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL" -->
<DIV align="left"><A NAME="005"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>

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<DIV align="left"><A NAME="006"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;ELEVENTH of the Restated Certificate of Incorporation of the
Corporation provides the following:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp; The Corporation shall indemnify any person who was or is a party
or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right
of the Corporation) by reason of the fact that he is or was a director,
officer, employee or agent of the Corporation, or is or was serving at
the written request of the Corporation as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust or
other enterprise, against expenses (including attorney&#146;s fees),
judgments, fines and amounts paid in settlement actually and reasonably
incurred by him in connection with such action, suit or proceeding if he
acted in good faith and in a manner he reasonably believed to be in or
not opposed to the best interests of the Corporation, and, with respect
to any criminal action or proceeding, had no reasonable cause to believe
his conduct was unlawful. The termination of any action, suit or
proceeding by judgment, order, settlement, conviction, or upon a plea of
nolo contendere or its equivalent, shall not, of itself, create a
presumption that the person did not act in good faith and in a manner
which he reasonably believed to be in or not opposed to the best
interests of the Corporation and, with respect to any criminal action or
proceeding, had reasonable cause to believe that his conduct was
unlawful.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp; The Corporation shall indemnify any person who was or is a party
or is threatened to be made a party to any threatened, pending or
completed action or suit by or in the right of the Corporation to procure
a judgment in its favor by reason of the fact that he is or was a
director, officer, employee or agent of the Corporation, or is or was
serving at the written request of the Corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture,
trust or other enterprise, against expenses (including attorney&#146;s fees)
actually and reasonably incurred by him in connection with the defense or
settlement of such action or suit if he acted in good faith and in a
manner he reasonably believed to be in or not opposed to the best
interests of the Corporation, except that no indemnification shall be
made in respect of any claim, issue or matter as to which such person
shall have been adjudged to be liable for negligence or misconduct in the
performance of his duty to the Corporation unless and only to the extent
that the court in which such action or suit was brought shall determine
upon application that, despite the adjudication of liability but in view
of all the circumstances of the case, such person is fairly and
reasonably entitled to indemnity for such expenses which such court shall
deem proper.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp; To the extent that a director, officer, employee or agent of the
Corporation has been successful on the merits or otherwise in defense of
any action, suit or proceeding referred to in paragraph 1 or 2 of this
Article&nbsp;ELEVENTH, or in defense of any claim, issue or matter therein, he
shall be indemnified against expenses (including attorney&#146;s fees)
actually and reasonably incurred by him in connection therewith.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp; Any indemnification under paragraph 1 or 2 of this Article
ELEVENTH (unless ordered by a court) shall be made by the Corporation
only as authorized in the specific case upon a determination that
indemnification of the director, officer, employee or agent is proper in
the circumstances because he has met the applicable standard of conduct
set forth therein. Such determination shall be made (a)&nbsp;by the Board of
Directors by a majority vote of a quorum consisting of directors who were
not parties to such action, suit or proceeding, or (b) if such a quorum is not obtainable, or, even if obtainable, a
quorum of disinterested directors so directs, by independent legal
counsel in a written opinion, or (c)&nbsp;by the stockholders.
</FONT>
<P align="center"><FONT size="2">II-2</FONT>
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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp; Expenses incurred in defending a civil or criminal action, suit
or proceeding may be paid by the Corporation in advance of the final
disposition of such action, suit or proceeding as authorized by the Board
of Directors in the specific case upon receipt of an undertaking by or on
behalf of the director, officer, employee or agent to repay such amount
unless it shall ultimately be determined that he is entitled to be
indemnified by the Corporation as authorized in this Article&nbsp;ELEVENTH.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp; The indemnification provided by this Article&nbsp;ELEVENTH shall not
be deemed exclusive of any other rights to which those seeking
indemnification may be entitled under any statute, by-law, agreement,
vote of stockholders or disinterested directors or otherwise, both as to
action in his official capacity and as to action in another capacity
while holding such office, and shall continue as to a person who has
ceased to be a director, officer, employee or agent and shall inure to
the benefit of the heirs, executors and administrators of such a person.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp; By action of its Board of Directors, notwithstanding any
interest of the directors in the action, the Corporation may purchase and
maintain insurance, in such amounts as the Board of Directors deems
appropriate, on behalf of any person who is or was a director, officer,
employee or agent of the Corporation, or is or was serving at the written
request of the Corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other
enterprise, against any liability asserted against him and incurred by
him in any such capacity, or arising out of his status as such, whether
or not the Corporation would have the power or would be required to
indemnify him against such liability under the provisions of this Article
ELEVENTH or of the General Corporation Law of the Commonwealth of Puerto
Rico.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2652 of Title 14, Laws of Puerto Rico Annotated, provides
the following:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every corporation created under the provisions of this subtitle
shall have the power to &#151;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***&nbsp;&nbsp;&nbsp;(n) Reimburse to all directors and officers or former
directors and officers, or any person who, at the request of the
corporation, has rendered services as a director or officer of another
corporation of which the corporation is a stockholder or creditor, the
expenses which necessarily or in fact were incurred with respect to the
defense in any action, suit or proceeding in which such persons, or any
of them, are included as a party or parties for having been directors or
officers of one or another corporation, pursuant to the provisions of &#167;
2728 of this title.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2728 of Title 14, Laws of Puerto Rico Annotated, provides
the following:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; A corporation may compensate any person who is, has been a
party, or is under threat of becoming a party to any imminent, pending or
resolved civil, criminal, administrative or investigative action, suit or
proceeding (except an action initiated by the corporation or initiated to
protect the interests of the corporation), because the person has been or
is a director, officer, employee or agent of the corporation, or had been
or is functioning at the request of the corporation as director, officer,
employee or agent of another corporation, partnership, joint venture,
trust or any other enterprise. The compensation may include the expenses
incurred in a reasonable manner, including attorneys&#146; fees, adjudication
or judgments, fines and amounts paid upon settling such action, suit or
proceeding, if the person acted in good faith and in a manner which the
person reasonably deemed consistent with the best interests of the
corporation and not opposed thereto, and that with respect to any
</FONT>
<P align="center"><FONT size="2">II-3</FONT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<P><FONT size="2"> criminal action or proceeding, the person did not have reasonable
cause to believe that his conduct was unlawful.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; A corporation may compensate any person who is, has been a
party, or is under threat of becoming a party to any imminent, pending or
resolved action, suit or proceeding initiated by the corporation or
initiated to protect the interests of the corporation to procure a
judgment in its favor because the person is or has been a director,
officer, employee or agent of the corporation, or is or has been in
office at the request of the corporation as director, officer, employee
or agent of another corporation, partnership, joint venture, trust or any
other enterprise. The compensation may include the expenses incurred in
a reasonable manner, including attorneys&#146; fees, with respect to the
defense or settlement of such action or suit, if the person acted in good
faith and in a manner he reasonably deemed consistent with the best
interests of the corporation and not opposed thereto.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***&nbsp;&nbsp;&nbsp;(f) The compensation and advance of expenses provided in this
section shall not be deemed to exclude any other right which those
seeking the compensation or advance may have, pursuant to any bylaws,
agreement, vote of uninvolved stockholders or directors, or otherwise,
with regard to their actions, both in their official capacity or
otherwise.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, the Company maintains a directors&#146; and officers&#146;
liability insurance policy.
</FONT>
<!-- link1 "Item 7. EXEMPTION FROM REGISTRATION CLAIMED" -->
<DIV align="left"><A NAME="007"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;7. EXEMPTION FROM REGISTRATION CLAIMED</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>

<!-- link1 "Item 8. EXHIBITS" -->
<DIV align="left"><A NAME="008"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;8. EXHIBITS</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">
<TR valign="bottom">
        <TD width="6%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="91%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description of Exhibits</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Restated Certificate of Incorporation of the Company, incorporated by
reference to Exhibit&nbsp;4(a) to the registrant&#146;s Registration Statement on
Form&nbsp;S-3 (Nos. 333-26941, 333-26941-01 and 333-26941-02) filed with the
Commission on May&nbsp;12, 1997.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By-laws of the Company, as amended, incorporated by reference to Exhibit
4.2 to the Company&#146;s Registration Statement on Form&nbsp;S-8 (No.&nbsp;333-80169)
filed with the Commission on June&nbsp;8, 1999.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Specimen of Certificate of the registrant&#146;s Common Stock, par value $6
per share, incorporated by reference to Exhibit&nbsp;4.1 of the Company&#146;s
Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 1998
(No.&nbsp;0-13818)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4(a)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Basic Savings Plan for the Equity One, Inc. Savings &#038; Retirement Plan.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4(b)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Adoption Agreement for the Equity One, Inc. Savings &#038; Retirement Plan.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4(c)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Bankers Trust Company, N.A. Custodial Trust Agreement for the Equity One, Inc. Savings &#038; Retirement Plan.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4(d)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amendment Number One for the Equity One, Inc. Savings &#038; Retirement Plan.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Stockholder Protection Rights Agreement, dated as of August&nbsp;13, 1998,
between Popular, Inc. and Banco Popular de Puerto Rico as Rights Agent,
including form of Rights Certificate attached as Exhibit&nbsp;B thereto,
incorporated by reference to Exhibit&nbsp;4.1 of Popular, Inc.&#146;s Current
Report on Form&nbsp;8-K, dated August&nbsp;13, 1998 and filed with the Commission on
August&nbsp;21, 1998 (No.&nbsp;0-13818)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.6</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Certificate of Designation, Preference and Rights of Popular, Inc.&#146;s
Series&nbsp;A Participating Cumulative Preferred Stock, incorporated by
reference to Exhibit&nbsp;99.1 of Popular, Inc.&#146;s Current Report on Form&nbsp;8-K
dated and filed on August&nbsp;3, 1999 (No.&nbsp;0-13818)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">II-4</FONT>
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<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">
<TR valign="bottom">
        <TD width="6%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="91%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description of Exhibits</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of Pietrantoni M&#233;ndez &#038; Alvarez LLP, regarding compliance with ERISA.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Independent Accountants of Popular, Inc.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Independent Accountants of Equity One, Inc. Savings &#038; Retirement Plan.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Pietrantoni M&#233;ndez &#038; Alvarez LLP (included in Exhibit 5)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">24</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Powers of Attorney (included on pages II-7 through II-9)</FONT></TD>
</TR>
</TABLE>
</CENTER>

<!-- link1 "Item 9. UNDERTAKINGS" -->
<DIV align="left"><A NAME="009"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;9. UNDERTAKINGS</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; The undersigned registrant hereby undertakes:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To include any prospectus required by section 10(a)(3) of
the Securities Act;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To reflect in the prospectus any facts or events arising
after the effective date of the registration statement (or the most
recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set
forth in the registration statement; and</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the
plan of distribution not previously disclosed in the registration
statement or any material change to such information in the
registration statement;</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of this
section do not apply if the information required to be included in a
post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the Securities and Exchange Commission
by the registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Exchange
Act that are incorporated by reference in the registration statement.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at
the termination of the offering.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
registrant&#146;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the
Exchange Act (and each filing of an employee benefit plan&#146;s annual report
pursuant to Section&nbsp;15(d) of the Exchange Act) that is incorporated by
reference in the registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or
otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities
(other than the payment by the registrant of expenses incurred or paid by a
director, officer or
</FONT>
<P align="center"><FONT size="2">II-5</FONT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<P><FONT size="2"> controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person against the registrant in connection with the securities
being registered, the registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
</FONT>
<P align="center"><FONT size="2">II-6</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="010"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The Registrant</B>. Pursuant to the requirements of the Securities Act
of 1933, the Registrant certifies that it has reasonable grounds to
believe that it meets all of the requirements for filing on Form&nbsp;S-8 and
has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of San Juan,
Commonwealth of Puerto Rico, on this 1st day of November, 2002.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="50%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="43%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" valign="top" align="left"><FONT size="2">POPULAR, INC.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" valign="top" align="left"><FONT size="2">(Registrant)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/s/ Jorge A. Junquera</FONT></TD>
</TR>
<TR>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Name: Jorge A. Junquera</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Title: Senior Executive Vice President and Director</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
</FONT>

<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints Richard L. Carrion, David H. Chafey, Jr., Jorge
A. Junquera, Orlando Berges, Am&#237;lcar Jord&#225;n and Roberto R. Herencia, and each
of them individually, his true and lawful attorneys-in-fact and agents, with
full power and in any and all capacities, to sign this Registration Statement
and any and all amendments (including post-effective amendments) to this
Registration Statement, and to file such Registration Statement and all such
amendments or supplements, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite or necessary
to be done in and about the premises, as fully to all intents and purposes as
he might or could do in person, thereby ratifying and confirming all that said
attorneys-in-fact and agents or any of them, or their or his substitutes or
substitute, may lawfully do or cause to be done by virtue thereof.</B>
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="40%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="22%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Signature</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Date</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Richard L. Carri&#243;n
<HR size="1" noshade>
Richard L. Carri&#243;n</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Chairman of the Board,<br>
President and Chief Executive<br>
Officer
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Antonio Luis Ferr&#233;
<HR size="1" noshade>
Antonio Luis Ferr&#233;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Vice Chairman of the Board<br>
and Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Juan J. Berm&#250;dez
<HR size="1" noshade>
Juan J. Berm&#250;dez</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">II-7</FONT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="40%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="22%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Jose B. Carri&#243;n, Jr.
<HR size="1" noshade>
Jose B. Carri&#243;n, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ David H. Chafey, Jr.
<HR size="1" noshade>
David H. Chafey, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Senior Executive Vice<br>
President and Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ H&#233;ctor R. Gonz&#225;lez
<HR size="1" noshade>
H&#233;ctor R. Gonz&#225;lez</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Jorge A. Junquera
<HR size="1" noshade>
Jorge A. Junquera</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Senior Executive Vice<br>
President and Director<br>
(Chief Financial Officer)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Manuel Morales, Jr.
<HR size="1" noshade>
Manuel Morales, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Francisco M. Rexach, Jr.
<HR size="1" noshade>
Francisco M. Rexach, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Felix J. Serrall&#233;s Nevares
<HR size="1" noshade>
Felix J. Serrall&#233;s Nevares</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Julio E. Vizcarrondo, Jr.
<HR size="1" noshade>
Julio E. Vizcarrondo, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Am&#237;lcar Jord&#225;n
<HR size="1" noshade>
Am&#237;lcar Jord&#225;n</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Senior Vice President<br>
(Principal Accounting Officer)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;1, 2002</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">II-8</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The Plan. </B>Pursuant to the requirements of the Securities Act of
1933, the persons who administer the employee benefit plan have duly
caused this registration statement to be signed on behalf of such plan by
the undersigned, thereunto duly authorized, in the City of Marlton,
New Jersey, on this 1st day of November, 2002.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="50%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="43%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" valign="top" align="left"><FONT size="2">Equity One, Inc. Savings &#038; Retirement Plan</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">By:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;Cameron Williams<br>
<HR size="1" noshade></FONT></TD>
</TR>

<TR valign="top">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Cameron Williams</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">President</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">II-9</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="011"></A></DIV>
<P align="center"><FONT size="2"><B>EXHIBIT INDEX</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">
<TR valign="bottom">
        <TD width="6%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="91%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description of Exhibits</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Restated Certificate of Incorporation of the Company, incorporated by
reference to Exhibit&nbsp;4(a) to the registrant&#146;s Registration Statement on
Form&nbsp;S-3 (Nos. 333-26941, 333-26941-01 and 333-26941-02) filed with the
Commission on May&nbsp;12, 1997.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By-laws of the Company, as amended, incorporated by reference to Exhibit
4.2 to the Company&#146;s Registration Statement on Form&nbsp;S-8 (No.&nbsp;333-80169)
filed with the Commission on June&nbsp;8, 1999.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Specimen of Certificate of the registrant&#146;s Common Stock, par value $6
per share, incorporated by reference to Exhibit&nbsp;4.1 of the Company&#146;s
Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 1998
(No.&nbsp;0-13818)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4(a)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Basic Savings Plan for the Equity One, Inc. Savings &#038; Retirement Plan.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4(b)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Adoption Agreement for the Equity One, Inc. Savings &#038; Retirement Plan.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4(c)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Bankers Trust Company, N.A. Custodial Trust Agreement for the Equity One, Inc. Savings &#038; Retirement Plan.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4(d)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amendment Number One for the Equity One, Inc. Savings &#038; Retirement Plan.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Stockholder Protection Rights Agreement, dated as of August&nbsp;13, 1998,
between Popular, Inc. and Banco Popular de Puerto Rico as Rights Agent,
including form of Rights Certificate attached as Exhibit&nbsp;B thereto,
incorporated herein by reference to Exhibit&nbsp;4.1 of Popular, Inc.&#146;s Current
Report on Form&nbsp;8-K, dated August&nbsp;13, 1998 and filed with the Commission on
August&nbsp;21, 1998 (No.&nbsp;0-13818)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.6</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Certificate of Designation, Preference and Rights of Popular, Inc.&#146;s
Series&nbsp;A Participating Cumulative Preferred Stock, incorporated by
reference to Exhibit&nbsp;99.1 of Popular, Inc.&#146;s Current Report on Form&nbsp;8-K
dated and filed on August&nbsp;3, 1999 (No.&nbsp;0-13818)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">5
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of Pietrantoni M&#233;ndez &#038; Alvarez LLP, regarding compliance with ERISA.
</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Independent Accountants of Popular, Inc.
</FONT></TD>
</TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Independent Accountants of Equity One, Inc. Savings &#038; Retirement Plan.
</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.3
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Pietrantoni M&#233;ndez &#38; Alvarez LLP (included in Exhibit&nbsp;5).
</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">
24</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Powers of Attorney (included on pages II-7 through II-9)</FONT></TD>
</TR>


</TABLE>
</CENTER>

<P align="center"><FONT size="2">II-10</FONT>



</BODY>
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Popular, Inc.
Table of Contents
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________
FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
__________________
POPULAR, INC.
(Exact name of registrant as specified in its charter)
Puerto Rico
66-0416582
(State or other jurisdiction of
incorporation or organization)
(I.R.S. employer
identification no.)
209 Muñoz Rivera Avenue
Hato Rey, Puerto Rico
00918
(Address of principal executive offices)
(Zip code)
EQUITY ONE, INC. SAVINGS & RETIREMENT PLAN
(Full title of the plan)
__________________
Jorge A. Junquera
209 Muñoz Rivera Avenue
Hato Rey, Puerto Rico 00918
(Name and address of agent for service)
(787) 765-9800
(Telephone number, including area code, of agent for service
)
__________________
Copies to:
Donald J. Toumey
Sullivan & Cromwell
125 Broad Street
New York, New York 10004
__________________
CALCULATION OF REGISTRATION FEE
Title of each Class
Proposed Maximum
Proposed Maximum
of Securities to be
Amount to be
Offering Price Per
Aggregate Offering
Amount of
Registered
Registered(1)(2)
Share(3)
Price(3)
Registration Fee
Common Stock, par
value $6 per share,
together with
attached rights to
purchase Series A
Participating
Cumulative
Preferred Stock, no
par value
500,000 Shares
$
31.65
$
15,825,000
$
1,455.90
(1)
The amount being registered also includes an indeterminate number of
shares of Common Stock which may be issuable as a result of stock splits,
stock dividends and antidilution provisions and other terms, in accordance
with Rule 416 under the Securities Act.
(2)
In addition, pursuant to Rule 416(c) under the Securities Act of 1933, as
amended, this Registration Statement also covers an indeterminate amount
of interests to be offered and sold pursuant to the Equity One, Inc.
Savings & Retirement Plan.
(3)
Estimated solely for the purpose of calculating the registration fee.
Such estimate has been computed in accordance with
Rule 457(h) based upon
the average of the high and low price of the Common Stock on the NASDAQ
National Market System on October 30, 2002, namely $31.65.
TABLE OF CONTENTS
PART I
INFORMATION REQUIRED IN THE PROSPECTUS
PART II
Item 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
Item 4. DESCRIPTION OF CAPITAL STOCK
Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Item 7. EXEMPTION FROM REGISTRATION CLAIMED
Item 8. EXHIBITS
Item 9. UNDERTAKINGS
SIGNATURES
EXHIBIT INDEX
EX-4.4(A) BASIC SAVINGS PLAN FOR EQUITY ONE, INC.
EX-4.4(B) ADOPTION AGREEMENT FOR EQUITY ONE, INC.
EX-4.4(C) BANKERS TRUST COMPANY CUSTODIAL TRUST
EX-4.4(D) AMENDMENT NO. 1 FOR EQUITY ONE SAVINGS
EX-5 OPINION OF PIETRANTONI MENDEZ & ALVAREZ LLP
EX-23.1 CONSENT OF INDEPENDENT ACCOUNTANTS
EX-23.2 CONSENT OF INDEPENDENT ACCOUNTANTS
Table of Contents
PART I
INFORMATION REQUIRED IN THE PROSPECTUS
As permitted by Rule 428 under the Securities Act of 1933, as
amended (the "Securities Act"), this Registration Statement omits the
information specified in Part I of Form S-8. The documents containing the
information specified in Part I will be delivered to the participants in
the plan covered by this Registration Statement as required by Rule
428(b). Such documents are not being filed with the Securities and
Exchange Commission (the "Commission") as part of this Registration
Statement or as prospectuses or prospectus supplements pursuant to Rule
424 under the Securities Act.
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The following documents filed with the Commission by Popular, Inc.
(the "Company") and the Equity One, Inc. Savings & Retirement Plan (the
"Plan") are incorporated herein by reference:
(1)  The Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2001 (File No. 0-13818);
(2)  The Annual Report on Form 11-K for the year ended December 31,
2001 for the Equity One, Inc. Savings & Retirement Plan (File No.
0-13818);
(3)  The Company's Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2002, June 30, 2002 and September 30, 2002. (File No.
0-13818);
(4)  The Company's Current Reports on Form 8-K filed with the
Commission on January 11, 2002, April 12, 2002, May 16, 2002, July 11,
2002, August 15, 2002 and October 10, 2002 (File No. 0-13818);
(5)  The description of the Company's Common Stock set forth in the
Company's Registration Statement on Form 8-A, filed with the Commission
on August 18, 1988 (File No. 0-13818), and any amendment or report filed
for the purpose of updating any such description; and
(6)  The description of the Company's Stockholder Protection Rights
Agreement set forth in the Company's Registration Statement on Form 8-A
(File No. 0-13818), filed with the Commission on August 28, 1998, and any
amendment or report filed for the purpose of updating such description.
All documents filed by the Company and the Plan pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), subsequent to the date of this Registration
Statement and prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters
all securities then remaining unsold shall be deemed to be incorporated
by reference in this Registration Statement and to be a part hereof from
the date of filing of such documents. Any statement contained in a
document incorporated or deemed to be incorporated by reference herein
shall be deemed to be modified or superseded for purposes of this
Registration Statement to the extent that a statement contained herein or
in any other subsequently filed document which also is or is deemed to be
incorporated by reference herein modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this Registration
Statement.
Item 4. DESCRIPTION OF CAPITAL STOCK
Not applicable. The Company's Common Stock is registered under
Section 12 of the Exchange Act.
Table of Contents
Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
Not applicable.
Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Article ELEVENTH of the Restated Certificate of Incorporation of the
Corporation provides the following:
(1)  The Corporation shall indemnify any person who was or is a party
or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right
of the Corporation) by reason of the fact that he is or was a director,
officer, employee or agent of the Corporation, or is or was serving at
the written request of the Corporation as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust or
other enterprise, against expenses (including attorney's fees),
judgments, fines and amounts paid in settlement actually and reasonably
incurred by him in connection with such action, suit or proceeding if he
acted in good faith and in a manner he reasonably believed to be in or
not opposed to the best interests of the Corporation, and, with respect
to any criminal action or proceeding, had no reasonable cause to believe
his conduct was unlawful. The termination of any action, suit or
proceeding by judgment, order, settlement, conviction, or upon a plea of
nolo contendere or its equivalent, shall not, of itself, create a
presumption that the person did not act in good faith and in a manner
which he reasonably believed to be in or not opposed to the best
interests of the Corporation and, with respect to any criminal action or
proceeding, had reasonable cause to believe that his conduct was
unlawful.
(2)  The Corporation shall indemnify any person who was or is a party
or is threatened to be made a party to any threatened, pending or
completed action or suit by or in the right of the Corporation to procure
a judgment in its favor by reason of the fact that he is or was a
director, officer, employee or agent of the Corporation, or is or was
serving at the written request of the Corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture,
trust or other enterprise, against expenses (including attorney's fees)
actually and reasonably incurred by him in connection with the defense or
settlement of such action or suit if he acted in good faith and in a
manner he reasonably believed to be in or not opposed to the best
interests of the Corporation, except that no indemnification shall be
made in respect of any claim, issue or matter as to which such person
shall have been adjudged to be liable for negligence or misconduct in the
performance of his duty to the Corporation unless and only to the extent
that the court in which such action or suit was brought shall determine
upon application that, despite the adjudication of liability but in view
of all the circumstances of the case, such person is fairly and
reasonably entitled to indemnity for such expenses which such court shall
deem proper.
(3)  To the extent that a director, officer, employee or agent of the
Corporation has been successful on the merits or otherwise in defense of
any action, suit or proceeding referred to in paragraph 1 or 2 of this
Article ELEVENTH, or in defense of any claim, issue or matter therein, he
shall be indemnified against expenses (including attorney's fees)
actually and reasonably incurred by him in connection therewith.
(4)  Any indemnification under paragraph 1 or 2 of this Article
ELEVENTH (unless ordered by a court) shall be made by the Corporation
only as authorized in the specific case upon a determination that
indemnification of the director, officer, employee or agent is proper in
the circumstances because he has met the applicable standard of conduct
set forth therein. Such determination shall be made (a) by the Board of
Directors by a majority vote of a quorum consisting of directors who were
not parties to such action, suit or proceeding, or (b) if such a quorum is not obtainable, or, even if obtainable, a
quorum of disinterested directors so directs, by independent legal
counsel in a written opinion, or (c) by the stockholders.
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(5)  Expenses incurred in defending a civil or criminal action, suit
or proceeding may be paid by the Corporation in advance of the final
disposition of such action, suit or proceeding as authorized by the Board
of Directors in the specific case upon receipt of an undertaking by or on
behalf of the director, officer, employee or agent to repay such amount
unless it shall ultimately be determined that he is entitled to be
indemnified by the Corporation as authorized in this Article ELEVENTH.
(6)  The indemnification provided by this Article ELEVENTH shall not
be deemed exclusive of any other rights to which those seeking
indemnification may be entitled under any statute, by-law, agreement,
vote of stockholders or disinterested directors or otherwise, both as to
action in his official capacity and as to action in another capacity
while holding such office, and shall continue as to a person who has
ceased to be a director, officer, employee or agent and shall inure to
the benefit of the heirs, executors and administrators of such a person.
(7)  By action of its Board of Directors, notwithstanding any
interest of the directors in the action, the Corporation may purchase and
maintain insurance, in such amounts as the Board of Directors deems
appropriate, on behalf of any person who is or was a director, officer,
employee or agent of the Corporation, or is or was serving at the written
request of the Corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other
enterprise, against any liability asserted against him and incurred by
him in any such capacity, or arising out of his status as such, whether
or not the Corporation would have the power or would be required to
indemnify him against such liability under the provisions of this Article
ELEVENTH or of the General Corporation Law of the Commonwealth of Puerto
Rico.
Section 2652 of Title 14, Laws of Puerto Rico Annotated, provides
the following:
Every corporation created under the provisions of this subtitle
shall have the power to —
***   (n) Reimburse to all directors and officers or former
directors and officers, or any person who, at the request of the
corporation, has rendered services as a director or officer of another
corporation of which the corporation is a stockholder or creditor, the
expenses which necessarily or in fact were incurred with respect to the
defense in any action, suit or proceeding in which such persons, or any
of them, are included as a party or parties for having been directors or
officers of one or another corporation, pursuant to the provisions of §
2728 of this title.
Section 2728 of Title 14, Laws of Puerto Rico Annotated, provides
the following:
(a)  A corporation may compensate any person who is, has been a
party, or is under threat of becoming a party to any imminent, pending or
resolved civil, criminal, administrative or investigative action, suit or
proceeding (except an action initiated by the corporation or initiated to
protect the interests of the corporation), because the person has been or
is a director, officer, employee or agent of the corporation, or had been
or is functioning at the request of the corporation as director, officer,
employee or agent of another corporation, partnership, joint venture,
trust or any other enterprise. The compensation may include the expenses
incurred in a reasonable manner, including attorneys' fees, adjudication
or judgments, fines and amounts paid upon settling such action, suit or
proceeding, if the person acted in good faith and in a manner which the
person reasonably deemed consistent with the best interests of the
corporation and not opposed thereto, and that with respect to any
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criminal action or proceeding, the person did not have reasonable
cause to believe that his conduct was unlawful.
(b)  A corporation may compensate any person who is, has been a
party, or is under threat of becoming a party to any imminent, pending or
resolved action, suit or proceeding initiated by the corporation or
initiated to protect the interests of the corporation to procure a
judgment in its favor because the person is or has been a director,
officer, employee or agent of the corporation, or is or has been in
office at the request of the corporation as director, officer, employee
or agent of another corporation, partnership, joint venture, trust or any
other enterprise. The compensation may include the expenses incurred in
a reasonable manner, including attorneys' fees, with respect to the
defense or settlement of such action or suit, if the person acted in good
faith and in a manner he reasonably deemed consistent with the best
interests of the corporation and not opposed thereto.
***   (f) The compensation and advance of expenses provided in this
section shall not be deemed to exclude any other right which those
seeking the compensation or advance may have, pursuant to any bylaws,
agreement, vote of uninvolved stockholders or directors, or otherwise,
with regard to their actions, both in their official capacity or
otherwise.
In addition, the Company maintains a directors' and officers'
liability insurance policy.
Item 7. EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
Item 8. EXHIBITS
Exhibit
Number
Description of Exhibits
4.1
Restated Certificate of Incorporation of the Company, incorporated by
reference to Exhibit 4(a) to the registrant's Registration Statement on
Form S-3 (Nos. 333-26941, 333-26941-01 and 333-26941-02) filed with the
Commission on May 12, 1997.
4.2
By-laws of the Company, as amended, incorporated by reference to Exhibit
4.2 to the Company's Registration Statement on Form S-8 (No. 333-80169)
filed with the Commission on June 8, 1999.
4.3
Specimen of Certificate of the registrant's Common Stock, par value $6
per share, incorporated by reference to Exhibit 4.1 of the Company's
Annual Report on Form 10-K for the fiscal year ended December 31, 1998
(No. 0-13818)
4.4(a)
Basic Savings Plan for the Equity One, Inc. Savings & Retirement Plan.
4.4(b)
Adoption Agreement for the Equity One, Inc. Savings & Retirement Plan.
4.4(c)
Bankers Trust Company, N.A. Custodial Trust Agreement for the Equity One, Inc. Savings & Retirement Plan.
4.4(d)
Amendment Number One for the Equity One, Inc. Savings & Retirement Plan.
4.5
Stockholder Protection Rights Agreement, dated as of August 13, 1998,
between Popular, Inc. and Banco Popular de Puerto Rico as Rights Agent,
including form of Rights Certificate attached as Exhibit B thereto,
incorporated by reference to Exhibit 4.1 of Popular, Inc.'s Current
Report on Form 8-K, dated August 13, 1998 and filed with the Commission on
August 21, 1998 (No. 0-13818)
4.6
Certificate of Designation, Preference and Rights of Popular, Inc.'s
Series A Participating Cumulative Preferred Stock, incorporated by
reference to Exhibit 99.1 of Popular, Inc.'s Current Report on Form 8-K
dated and filed on August 3, 1999 (No. 0-13818)
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Exhibit
Number
Description of Exhibits
5
Opinion of Pietrantoni Méndez & Alvarez LLP, regarding compliance with ERISA.
23.1
Consent of Independent Accountants of Popular, Inc.
23.2
Consent of Independent Accountants of Equity One, Inc. Savings & Retirement Plan.
23.3
Consent of Pietrantoni Méndez & Alvarez LLP (included in Exhibit 5)
24
Powers of Attorney (included on pages II-7 through II-9)
Item 9. UNDERTAKINGS
(a)  The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:
(i) To include any prospectus required by section 10(a)(3) of
the Securities Act;
(ii) To reflect in the prospectus any facts or events arising
after the effective date of the registration statement (or the most
recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set
forth in the registration statement; and
(iii) To include any material information with respect to the
plan of distribution not previously disclosed in the registration
statement or any material change to such information in the
registration statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of this
section do not apply if the information required to be included in a
post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the Securities and Exchange Commission
by the registrant pursuant to Section 13 or Section 15(d) of the Exchange
Act that are incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at
the termination of the offering.
(b)  The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Exchange Act (and each filing of an employee benefit plan's annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in the registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.
(c)  Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or
otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities
(other than the payment by the registrant of expenses incurred or paid by a
director, officer or
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controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person against the registrant in connection with the securities
being registered, the registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
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SIGNATURES
The Registrant
. Pursuant to the requirements of the Securities Act
of 1933, the Registrant certifies that it has reasonable grounds to
believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of San Juan,
Commonwealth of Puerto Rico, on this 1st day of November, 2002.
POPULAR, INC.
(Registrant)
By
/s/ Jorge A. Junquera
Name: Jorge A. Junquera
Title: Senior Executive Vice President and Director
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints Richard L. Carrion, David H. Chafey, Jr., Jorge
A. Junquera, Orlando Berges, Amílcar Jordán and Roberto R. Herencia, and each
of them individually, his true and lawful attorneys-in-fact and agents, with
full power and in any and all capacities, to sign this Registration Statement
and any and all amendments (including post-effective amendments) to this
Registration Statement, and to file such Registration Statement and all such
amendments or supplements, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite or necessary
to be done in and about the premises, as fully to all intents and purposes as
he might or could do in person, thereby ratifying and confirming all that said
attorneys-in-fact and agents or any of them, or their or his substitutes or
substitute, may lawfully do or cause to be done by virtue thereof.
Signature
Title
Date
/s/ Richard L. Carrión
Richard L. Carrión
Chairman of the Board,
President and Chief Executive
Officer
November 1, 2002
/s/ Antonio Luis Ferré
Antonio Luis Ferré
Vice Chairman of the Board
and Director
November 1, 2002
/s/ Juan J. Bermúdez
Juan J. Bermúdez
Director
November 1, 2002
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/s/ Jose B. Carrión, Jr.
Jose B. Carrión, Jr.
Director
November 1, 2002
/s/ David H. Chafey, Jr.
David H. Chafey, Jr.
Senior Executive Vice
President and Director
November 1, 2002
/s/ Héctor R. González
Héctor R. González
Director
November 1, 2002
/s/ Jorge A. Junquera
Jorge A. Junquera
Senior Executive Vice
President and Director
(Chief Financial Officer)
November 1, 2002
/s/ Manuel Morales, Jr.
Manuel Morales, Jr.
Director
November 1, 2002
/s/ Francisco M. Rexach, Jr.
Francisco M. Rexach, Jr.
Director
November 1, 2002
/s/ Felix J. Serrallés Nevares
Felix J. Serrallés Nevares
Director
November 1, 2002
/s/ Julio E. Vizcarrondo, Jr.
Julio E. Vizcarrondo, Jr.
Director
November 1, 2002
/s/ Amílcar Jordán
Amílcar Jordán
Senior Vice President
(Principal Accounting Officer)
November 1, 2002
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The Plan.
Pursuant to the requirements of the Securities Act of
1933, the persons who administer the employee benefit plan have duly
caused this registration statement to be signed on behalf of such plan by
the undersigned, thereunto duly authorized, in the City of Marlton,
New Jersey, on this 1st day of November, 2002.
Equity One, Inc. Savings & Retirement Plan
By:
/s/   Cameron Williams
Cameron Williams
President
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EXHIBIT INDEX
Exhibit
Number
Description of Exhibits
4.1
Restated Certificate of Incorporation of the Company, incorporated by
reference to Exhibit 4(a) to the registrant's Registration Statement on
Form S-3 (Nos. 333-26941, 333-26941-01 and 333-26941-02) filed with the
Commission on May 12, 1997.
4.2
By-laws of the Company, as amended, incorporated by reference to Exhibit
4.2 to the Company's Registration Statement on Form S-8 (No. 333-80169)
filed with the Commission on June 8, 1999.
4.3
Specimen of Certificate of the registrant's Common Stock, par value $6
per share, incorporated by reference to Exhibit 4.1 of the Company's
Annual Report on Form 10-K for the fiscal year ended December 31, 1998
(No. 0-13818)
4.4(a)
Basic Savings Plan for the Equity One, Inc. Savings & Retirement Plan.
4.4(b)
Adoption Agreement for the Equity One, Inc. Savings & Retirement Plan.
4.4(c)
Bankers Trust Company, N.A. Custodial Trust Agreement for the Equity One, Inc. Savings & Retirement Plan.
4.4(d)
Amendment Number One for the Equity One, Inc. Savings & Retirement Plan.
4.5
Stockholder Protection Rights Agreement, dated as of August 13, 1998,
between Popular, Inc. and Banco Popular de Puerto Rico as Rights Agent,
including form of Rights Certificate attached as Exhibit B thereto,
incorporated herein by reference to Exhibit 4.1 of Popular, Inc.'s Current
Report on Form 8-K, dated August 13, 1998 and filed with the Commission on
August 21, 1998 (No. 0-13818)
4.6
Certificate of Designation, Preference and Rights of Popular, Inc.'s
Series A Participating Cumulative Preferred Stock, incorporated by
reference to Exhibit 99.1 of Popular, Inc.'s Current Report on Form 8-K
dated and filed on August 3, 1999 (No. 0-13818)
5
Opinion of Pietrantoni Méndez & Alvarez LLP, regarding compliance with ERISA.
23.1
Consent of Independent Accountants of Popular, Inc.
23.2
Consent of Independent Accountants of Equity One, Inc. Savings & Retirement Plan.
23.3
Consent of Pietrantoni Méndez & Alvarez LLP (included in Exhibit 5).
24
Powers of Attorney (included on pages II-7 through II-9)
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