Allowance for credit losses

12 Months Ended

Dec. 31, 2020

Allowance for Credit Loss

Allowance for credit losses

Note 8 – Allowance for credit losses – loans held-in-portfolio

The Corporation follows the current expected credit loss (“CECL”) model, to establish and evaluate the adequacy of the allowance for credit losses (“ACL”) to provide for expected losses in the loan portfolio. This model establishes a forward-looking methodology that reflects the expected credit losses over the lives of financial assets, starting when such assets are first acquired or originated. In addition, CECL provides that the initial ACL on purchased credit deteriorated (“PCD”) financial assets will be recorded as an increase to the purchase price, with subsequent changes to the allowance recorded as a credit loss expense. The provision for credit losses charged to current operations is based on this methodology. Loan losses are charged and recoveries are credited to the ACL. Refer to Note 2 - Summary of significant accounting policies, for a description of the Corporation’s methodology to estimate the ACL.

At December 31, 2020, the Corporation applied probability weights to the outcomes of simulations using Moody’s Analytics’ Baseline, S3 (pessimistic) and S1 (optimistic) scenarios. The Baseline scenario carried the highest weight. The remaining weights were assigned based on the evaluation of risks to the Baseline scenario. The S3 (pessimistic) scenario had the second highest probability given the uncertainties in the economic outlook and downside risk.

The following tables present the changes in the ACL of loans held-in-portfolio and unfunded commitments for the years ended December 31, 2020 and 2019.

For the year ended December 31, 2020
Puerto Rico
(In thousands)		Commercial		Construction		Mortgage		Leasing		Consumer		Total
Allowance for credit losses - loans:
Beginning balance		$	131,063	$	574	$	116,281	$	10,768	$	173,965	$	432,651
	Impact of adopting CECL		62,393		115		86,081		(713)		122,492		270,368
	Provision		48,756		3,228		5,318		14,172		134,391		205,865
	Initial allowance for credit losses - PCD Loans		-		-		7,512		-		-		7,512
	Charge-offs		(27,731)		-		(30,080)		(10,447)		(170,023)		(238,281)
	Recoveries		10,842		954		10,445		3,083		36,311		61,635
Ending balance - loans		$	225,323	$	4,871	$	195,557	$	16,863	$	297,136	$	739,750
Allowance for credit losses - unfunded commitments:
Beginning balance		$	678	$	294	$	-	$	-	$	7,467	$	8,439
	Impact of adopting CECL		1,158		(185)		-		-		(7,467)		(6,494)
	Provision (reversal of provision)		3,077		4,501		-		-		-		7,578
Ending balance - unfunded commitments [1]		$	4,913	$	4,610	$	-	$	-	$	-	$	9,523
[1]	Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

For the year ended December 31, 2020
Popular U.S.
(In thousands)		Commercial		Construction		Mortgage		Legacy		Consumer		Total
Allowance for credit losses - loans:
Beginning balance		$	15,989	$	4,204	$	4,827	$	630	$	19,407	$	45,057
	Impact of adopting CECL		29,103		(2,986)		10,431		382		7,809		44,739
	Provision		59,711		8,155		4,891		309		3,405		76,471
	Charge-offs		(1,976)		(1,509)		(59)		(102)		(17,404)		(21,050)
	Recoveries		4,119		1,220		69		174		5,701		11,283
Ending balance - loans		$	106,946	$	9,084	$	20,159	$	1,393	$	18,918	$	156,500
Allowance for credit losses - unfunded commitments:
Beginning balance		$	152	$	119	$	-	$	6	$	1	$	278
	Impact of adopting CECL		453		584		-		(2)		(1)		1,034
	Provision (reversal of provision)		1,148		3,765		-		(4)		106		5,015
Ending balance - unfunded commitments [1]		$	1,753	$	4,468	$	-	$	-	$	106	$	6,327
[1]	Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

For the year ended December 31, 2020
Popular, Inc.
(In thousands)		Commercial		Construction		Mortgage		Legacy		Leasing		Consumer		Total
Allowance for credit losses - loans:
Beginning balance		$	147,052	$	4,778	$	121,108	$	630	$	10,768	$	193,372	$	477,708
	Impact of adopting CECL		91,496		(2,871)		96,512		382		(713)		130,301		315,107
	Provision		108,467		11,383		10,209		309		14,172		137,796		282,336
	Initial allowance for credit losses - PCD Loans		-		-		7,512		-		-		-		7,512
	Charge-offs		(29,707)		(1,509)		(30,139)		(102)		(10,447)		(187,427)		(259,331)
	Recoveries		14,961		2,174		10,514		174		3,083		42,012		72,918
Ending balance - loans		$	332,269	$	13,955	$	215,716	$	1,393	$	16,863	$	316,054	$	896,250
Allowance for credit losses - unfunded commitments:
Beginning balance		$	830	$	413	$	-	$	6	$	-	$	7,468	$	8,717
	Impact of adopting CECL		1,611		399		-		(2)		-		(7,468)		(5,460)
	Provision (reversal of provision)		4,225		8,266		-		(4)		-		106		12,593
Ending balance - unfunded commitments [1]		$	6,666	$	9,078	$	-	$	-	$	-	$	106	$	15,850
[1]	Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

For the year ended December 31, 2019
Puerto Rico
(In thousands)		Commercial		Construction		Mortgage		Leasing		Consumer		Total
Allowance for credit losses - loans:
Beginning balance		$	207,214	$	886	$	142,978	$	11,486	$	144,594	$	507,158
	Provision (reversal of provision)		(41,440)		(3,417)		14,658		8,619		157,331		135,751
	Charge-offs		(53,852)		(109)		(47,577)		(11,834)		(167,983)		(281,355)
	Recoveries		19,141		3,214		6,222		2,497		40,023		71,097
Ending balance - loans		$	131,063	$	574	$	116,281	$	10,768	$	173,965	$	432,651
Specific ACL		$	20,533	$	6	$	40,596	$	61	$	20,259	$	81,455
General ACL		$	110,530	$	568	$	75,685	$	10,707	$	153,706	$	351,196
Allowance for credit losses - unfunded commitments:
Beginning balance		$	742	$	42	$	-	$	-	$	7,199	$	7,983
	Provision (reversal of provision)		(64)		252		-		-		268		456
Ending balance - unfunded commitments [1]		$	678	$	294	$	-	$	-	$	7,467	$	8,439
Loans held-in-portfolio:
Impaired loans		$	397,452	$	119	$	522,469	$	507	$	91,157	$	1,011,704
Loans held-in-portfolio excluding impaired loans			6,863,678		137,351		5,644,279		1,059,000		5,464,220		19,168,528
Total loans held-in-portfolio		$	7,261,130	$	137,470	$	6,166,748	$	1,059,507	$	5,555,377	$	20,180,232
[1]	Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

For the year ended December 31, 2019
Popular U.S.
(In thousands)		Commercial		Construction		Mortgage		Legacy		Consumer		Total
Allowance for credit losses - loans:
Beginning balance		$	31,901	$	6,538	$	4,434	$	969	$	18,348	$	62,190
	Provision (reversal of provision)		15,496		(127)		828		(1,738)		15,569		30,028
	Charge-offs		(40,329)		(2,215)		(605)		105		(21,280)		(64,324)
	Recoveries		8,921		8		170		1,294		6,770		17,163
Ending balance - loans		$	15,989	$	4,204	$	4,827	$	630	$	19,407	$	45,057
Specific ACL		$	-	$	-	$	2,208	$	-	$	1,563	$	3,771
General ACL		$	15,989	$	4,204	$	2,619	$	630	$	17,844	$	41,286
Allowance for credit losses - unfunded commitments:
Beginning balance		$	132	$	101	$	-	$	-	$	-	$	233
	Provision (reversal of provision)		20		18		-		6		1		45
Ending balance - unfunded commitments [1]		$	152	$	119	$	-	$	6	$	1	$	278
Loans held-in-portfolio:
Impaired loans		$	2,097	$	-	$	9,386	$	-	$	9,634	$	21,117
Loans held-in-portfolio excluding impaired loans			5,049,524		693,622		1,007,398		22,105		432,875		7,205,524
Total loans held-in-portfolio		$	5,051,621	$	693,622	$	1,016,784	$	22,105	$	442,509	$	7,226,641
[1]	Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

For the year ended December 31, 2019
Popular, Inc.
(In thousands)		Commercial		Construction		Mortgage		Legacy		Leasing		Consumer		Total
Allowance for credit losses - loans:
Beginning balance		$	239,115	$	7,424	$	147,412	$	969	$	11,486	$	162,942	$	569,348
	Provision (reversal of provision)		(25,944)		(3,544)		15,486		(1,738)		8,619		172,900		165,779
	Charge-offs		(94,181)		(2,324)		(48,182)		105		(11,834)		(189,263)		(345,679)
	Recoveries		28,062		3,222		6,392		1,294		2,497		46,793		88,260
Ending balance - loans		$	147,052	$	4,778	$	121,108	$	630	$	10,768	$	193,372	$	477,708
Specific ACL		$	20,533	$	6	$	42,804	$	-	$	61	$	21,822	$	85,226
General ACL		$	126,519	$	4,772	$	78,304	$	630	$	10,707	$	171,550	$	392,482
Allowance for credit losses - unfunded commitments:
Beginning balance		$	874	$	143	$	-	$	-	$	-	$	7,199	$	8,216
	Provision (reversal of provision)		(44)		270		-		6		-		269		501
Ending balance - unfunded commitments [1]		$	830	$	413	$	-	$	6	$	-	$	7,468	$	8,717
Loans held-in-portfolio:
Impaired loans		$	399,549	$	119	$	531,855	$	-	$	507	$	100,791	$	1,032,821
Loans held-in-portfolio excluding impaired loans			11,913,202		830,973		6,651,677		22,105		1,059,000		5,897,095		26,374,052
Total loans held-in-portfolio		$	12,312,751	$	831,092	$	7,183,532	$	22,105	$	1,059,507	$	5,997,886	$	27,406,873
[1]	Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

The following table provides the activity in the allowance for credit losses related to loans accounted for pursuant to ASC Subtopic 310-30.

	ASC 310-30
(In thousands)	For the year ended December 31, 2019
Balance at beginning of period	$	122,135
Provision		1,119
Net charge-offs		(49,215)
Balance at end of period	$	74,039

Modifications

A modification of a loan constitutes a troubled debt restructuring when a borrower is experiencing financial difficulty and the modification constitutes a concession. For a summary of the accounting policy related to troubled debt restructurings (“TDRs”), refer to the Summary of Significant Accounting Policies included in Note 2 to these Consolidated Financial Statements.

The outstanding balance of loans classified as TDRs amounted to $ 1.7 billion at December 31, 2020 (December 31, 2019 - $ 1.6 billion). The amount of outstanding commitments to lend additional funds to debtors owing receivables whose terms have been modified in TDRs amounted to $14 million related to the commercial loan portfolio at December 31, 2020 (December 31, 2019 - $14 million).

In response to the COVID-19 pandemic, the Corporation has entered into loan modifications with eligible customers in mortgage, personal loans, credit cards, auto loans and leases and certain commercial credit facilities, comprised mainly of payment deferrals of up to six months, subject to certain terms and conditions. These loan modifications do not affect the asset quality measures as the deferred payments are not deemed to be delinquent and the Corporation continues to accrue interest on these loans. The Puerto Rico Legislative Assembly enacted legislation in April 2020 that required financial institutions to offer through June 2020 moratoriums on consumer financial products to clients impacted by the COVID-19 pandemic and extended relief with respect to mortgage products through August 2020. Additionally, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), signed by the President of the United States as part of an economic stimulus package, provides relief related to U.S. GAAP requirements for loan modifications related to COVID-19 relief measures. This relief was subsequently extended until the earlier of January 1, 2022 or 60 days after the national COVID-19 emergency ends. In addition, the Federal Reserve, along with other U.S. banking regulators, also issued interagency guidance to financial institutions that offers some practical expedients for evaluating whether loan modifications that occur in response to the COVID-19 pandemic are TDRs. According to the interagency guidance,

COVID-19 related short-term modifications (i.e., six months or less) granted to consumer or commercial loans that were current as of the date of the loan modification are not TDRs, since the lender can conclude that the borrower is current on their loan and thus not experiencing financial difficulties and furthermore the period of the deferral granted does not represent a more than insignificant concession on the part of the lender. In addition, a modification or deferral program that is mandated by the federal government or a state government (e.g., a state program that requires all institutions within that state to suspend mortgage payments for a specified period) does not represent a TDR.

The Corporation implemented a relief program to work with customers affected by the COVID-19 pandemic in March 2020. As of December 31, 2020, the Corporation had granted loan payment moratoriums under the program to 127,117 eligible retail customers with an aggregate book value of $4.4 billion, and to 5,099 eligible commercial clients with an aggregate book value of $3.9 billion. In addition, certain participating clients impacted by the seismic activity in the Southern region of the island also benefitted from other loan payment moratoriums offered by the Corporation since mid-January 2020. As of December 31, 2020, 127,857 loans in the COVID-19 relief program with an aggregate book value of $7.8 billion had already completed their payment moratorium period, while 4,359 loans with an aggregate book value of $0.5 billion are still under the moratorium. Out of the approximately $8.3 billion in loans modified under this program, approximately $35 million have been classified as TDRs. In making this determination, the Corporation considered the criteria of whether the borrower was in financial difficulty at the time of the deferral and whether the deferral period was more than insignificant, as discussed above.

At December 31, 2020, 97% of COVID-19 payment deferrals had expired. After excluding government guaranteed loans, 115,079 of remaining loans, or 94%, with an aggregate book value of $6.9 billion were current on their payments as of December 31, 2020. Loans considered current exclude those loans for which the COVID-19 related modification has expired but have subsequently been subject to other loss mitigation alternatives. The Corporation will continue to monitor and assess the post-moratorium payment behavior of these borrowers to recognize any deterioration in these loans, and potential loss exposure, in a timely manner.

The following table presents the outstanding balance of loans classified as TDRs according to their accruing status and the related allowance at December 31, 2020 and 2019.

	December 31, 2020								December 31, 2019
(In thousands)		Accruing		Non-Accruing		Total		Related Allowance		Accruing		Non-Accruing		Total		Related Allowance
Loans held-in-portfolio:
Commercial	$	259,246	$	103,551	$	362,797	$	15,236	$	237,861	$	111,587	$	349,448	$	16,443
Construction		-		21,497		21,497		4,397		-		119		119		6
Mortgage[1]		1,060,193		135,772		1,195,965		71,018		1,013,561		126,036		1,139,597		42,012
Leases		392		218		610		150		264		243		507		61
Consumer		74,707		12,792		87,499		22,508		82,205		15,808		98,013		21,404
Loans held-in-portfolio	$	1,394,538	$	273,830	$	1,668,368	$	113,309	$	1,333,891	$	253,793	$	1,587,684	$	79,926
[1] At December 31, 2020, accruing mortgage loan TDRs include $655 million guaranteed by U.S. sponsored entities at BPPR, compared to $625 million at December 31, 2019.

The following tables present the loan count by type of modification for those loans modified in a TDR during the years ended December 31, 2020 and 2019. Loans modified as TDRs for the U.S. operations are considered insignificant to the Corporation.

For the year ended December 31, 2020
	Reduction in interest rate	Extension of maturity date	Combination of reduction in interest rate and extension of maturity date	Other
Commercial multi-family	-	2	-	-
Commercial real estate non-owner occupied	2	10	-	1
Commercial real estate owner occupied	-	37	-	-
Commercial and industrial	3	50	-	-
Construction	-	1	-	-
Mortgage	3	68	331	411
Leasing	-	-	5	17
Consumer:
Credit cards	659	-	-	93
HELOCs	-	2	1	-
Personal	355	5	1	1
Auto	-	2	2	38
Other	3	-	-	-
Total	1,025	177	340	561

For the year ended December 31, 2019
	Reduction in interest rate	Extension of maturity date	Combination of reduction in interest rate and extension of maturity date	Other
Commercial multi-family	-	3	-	-
Commercial real estate non-owner occupied	-	13	-	-
Commercial real estate owner occupied	1	29	-	-
Commercial and industrial	2	67	-	-
Mortgage	37	130	672	6
Leasing	-	1	2	-
Consumer:
Credit cards	515	-	2	189
HELOCs	-	16	12	-
Personal	668	4	-	3
Auto	-	6	2	-
Other	31	-	-	-
Total	1,254	269	690	198

The following tables present, by class, quantitative information related to loans modified as TDRs during the years ended December 31, 2020 and 2019.

Popular, Inc.
For the year ended December 31, 2020
(Dollars in thousands)	Loan count	Pre-modification outstanding recorded investment		Post-modification outstanding recorded investment		Increase (decrease) in the allowance for credit losses as a result of modification
Commercial multi-family	2	$	1,133	$	1,115	$	(18)
Commercial real estate non-owner occupied	13		25,217		22,065		(969)
Commercial real estate owner occupied	37		10,955		10,914		137
Commercial and industrial	53		3,140		3,178		34
Construction	1		21,514		21,514		4,370
Mortgage	813		102,559		85,394		6,875
Leasing	22		720		732		65
Consumer:
Credit cards	752		7,048		7,097		286
HELOCs	3		510		396		33
Personal	362		6,194		6,188		1,043
Auto	42		836		838		131
Other	3		25		25		6
Total	2,103	$	179,851	$	159,456	$	11,993

Popular, Inc.
For the year ended December 31, 2019
(Dollars in thousands)	Loan count	Pre-modification outstanding recorded investment		Post-modification outstanding recorded investment		Increase (decrease) in the allowance for credit losses as a result of modification
Commercial multi-family	3	$	346	$	295	$	(40)
Commercial real estate non-owner occupied	13		58,142		58,116		2,811
Commercial real estate owner occupied	30		7,533		7,249		81
Commercial and industrial	69		14,991		15,435		1,368
Mortgage	845		83,833		77,308		2,814
Leasing	3		264		266		7
Consumer:
Credit cards	706		5,702		5,867		554
HELOCs	28		2,725		2,423		364
Personal	675		10,831		10,835		3,023
Auto	8		121		128		21
Other	31		206		206		30
Total	2,411	$	184,694	$	178,128	$	11,033

During the year ended December 31, 2020, ten loans with an aggregate unpaid principal balance of $ 35.1 million were restructured into multiple notes (“Note A / B split”), of which a discounted payoff for one loan with an aggregate unpaid principal balance of $1.7 million was completed after the restructuring, compared to four loans with an aggregate unpaid principal balance of $9.1 million during the year ended December 31, 2019. The Corporation recorded $0.3 million in charge-offs as part of Note A / B restructurings during 2020, compared to $0 million in charge-offs during 2019. The recorded investment on these commercial TDRs amounted to approximately $32.9 million at December 31, 2020, compared to $9.0 million at December 31, 2019. These loans were restructured after analyzing the borrowers’ capacity to repay the debt, collateral and ability to perform under the modified terms.The following tables present, by class, TDRs that were subject to payment default and that had been modified as a TDR during the twelve months preceding the default date. Payment default is defined as a restructured loan becoming 90 days past due after being modified, foreclosed or charged-off, whichever occurs first. The recorded investment as of period end is inclusive of all partial paydowns and charge-offs since the modification date. Loans modified as a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported.

Defaulted during the year ended December 31, 2020
(Dollars in thousands)	Loan count	Recorded investment as of first default date
Commercial real estate non-owner occupied	1	$	1,700
Commercial real estate owner occupied	6		933
Commercial and industrial	4		141
Construction	1		21,497
Mortgage	249		26,925
Consumer:
Credit cards	317		2,560
Personal	99		1,660
Other	2		1
Total	679	$	55,417

Defaulted during the year ended December 31, 2019
(Dollars in thousands)	Loan count	Recorded investment as of first default date
Commercial real estate non-owner occupied	1	$	47
Commercial real estate owner occupied	3		495
Commercial and industrial	9		7,281
Mortgage	63		4,424
Leasing	1		22
Consumer:
Credit cards	302		2,808
HELOCs	1		135
Personal	197		5,640
Auto	2		24
Other	3		8
Total	582	$	20,884

Commercial, consumer and mortgage loans modified in a TDR are closely monitored for delinquency as an early indicator of possible future default. If loans modified in a TDR subsequently default, the allowance for credit losses may be increased or partial charge-offs may be taken to further write-down the carrying value of the loan.

Credit Quality

The Corporation has defined a risk rating system to assign a rating to all credit exposures, particularly for the commercial and construction loan portfolios. Risk ratings in the aggregate provide the Corporation’s management the asset quality profile for the loan portfolio. The risk rating system provides for the assignment of ratings at the obligor level based on the financial condition of the borrower. The risk rating analysis process is performed at least once a year or more frequently if events or conditions change which may deteriorate the credit quality. In the case of consumer and mortgage loans, these loans are classified considering their delinquency status at the end of the reporting period.

The Corporation’s obligor risk rating scales range from rating 1 (Excellent) to rating 14 (Loss). The obligor risk rating reflects the risk of payment default of a borrower in the ordinary course of business.

Pass Credit Classifications:

Pass (Scales 1 through 8) – Loans classified as pass have a well defined primary source of repayment, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and strong capitalization.

Watch (Scale 9) – Loans classified as watch have acceptable business credit, but borrower’s operations, cash flow or financial condition evidence more than average risk, requires above average levels of supervision and attention from Loan Officers.

Special Mention (Scale 10) - Loans classified as special mention have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Corporation’s credit position at some future date.

Adversely Classified Classifications:

Substandard (Scales 11 and 12) - Loans classified as substandard are deemed to be inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans classified as such have well-defined weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful (Scale 13) - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the additional characteristic that the weaknesses make the collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

Loss (Scale 14) - Uncollectible and of such little value that continuance as a bankable asset is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this asset even though partial recovery may be effected in the future.

Risk ratings scales 10 through 14 conform to regulatory ratings. The assignment of the obligor risk rating is based on relevant information about the ability of borrowers to service their debts such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors.

The following table presents the amortized cost basis, net of unearned income, of loans held-in-portfolio based on the Corporation’s assignment of obligor risk ratings as defined at December 31, 2020 by vintage year.

December 31, 2020
				Term Loans													Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost Basis
				Amortized Cost Basis by Origination Year
(In thousands)					2020		2019		2018		2017		2016		Prior Years						Total
Puerto Rico
	Commercial:
		Commercial multi-family
			Watch	$	-	$	-	$	-	$	-	$	-	$	460	$	-	$	-	$	460
			Special mention		-		-		-		-		-		4,160		-		-		4,160
			Substandard		-		-		-		-		-		400		100		-		500
			Pass		5,216		36,433		26,051		2,106		2,563		74,791		-		-		147,160
		Total commercial multi-family		$	5,216	$	36,433	$	26,051	$	2,106	$	2,563	$	79,811	$	100	$	-	$	152,280
		Commercial real estate non-owner occupied
			Watch	$	160,960	$	73,561	$	27,592	$	40,654	$	33,277	$	197,912	$	2,100	$	-	$	536,056
			Special Mention		-		26,331		124,560		29,711		19,895		62,839		836		-		264,172
			Substandard		43,399		74,303		26,799		4,932		29,974		130,218		95		-		309,720
			Pass		88,324		53,385		39,814		60,585		124,643		527,282		3,352		-		897,385
		Total commercial real estate non-owner occupied		$	292,683	$	227,580	$	218,765	$	135,882	$	207,789	$	918,251	$	6,383	$	-	$	2,007,333
		Commercial real estate owner occupied
			Watch	$	96,046	$	10,319	$	14,412	$	9,760	$	9,584	$	146,445	$	2,627	$	-	$	289,193
			Special Mention		850		6,638		249		6,571		282		172,078		-		-		186,668
			Substandard		1,774		2,181		37,686		1,878		27,094		145,193		-		-		215,806
			Doubtful		-		-		-		-		-		1,714		-		-		1,714
			Pass		204,840		54,274		31,917		57,854		128,392		417,376		10,861		-		905,514
		Total commercial real estate owner occupied		$	303,510	$	73,412	$	84,264	$	76,063	$	165,352	$	882,806	$	13,488	$	-	$	1,598,895

	Commercial and industrial
		Watch	$	131,556	$	77,821	$	182,776	$	40,318	$	63,968	$	267,856	$	243,335	$	-	$	1,007,630
		Special Mention		28,310		10,297		19,220		45,861		910		28,507		86,263		-		219,368
		Substandard		32,941		2,180		26,921		26,769		1,824		55,220		49,036		-		194,891
		Doubtful		-		67		-		1		-		54		1		-		123
		Loss		-		-		-		-		-		-		13		-		13
		Pass		1,181,399		492,778		119,709		168,174		105,442		218,716		520,865		-		2,807,083
	Total commercial and industrial		$	1,374,206	$	583,143	$	348,626	$	281,123	$	172,144	$	570,353	$	899,513	$	-	$	4,229,108
Construction
		Watch	$	-	$	105	$	4,895	$	-	$	-	$	-	$	960	$	-	$	5,960
		Substandard		-		-		-		21,497		-		-		-		-		21,497
		Pass		15,723		22,408		3,423		63,582		-		-		24,513		-		129,649
Total construction			$	15,723	$	22,513	$	8,318	$	85,079	$	-	$	-	$	25,473	$	-	$	157,106
Mortgage
		Substandard	$	754	$	903	$	1,172	$	3,129	$	4,374	$	159,359	$	-	$	-	$	169,691
		Pass		263,473		224,390		177,537		212,650		225,824		5,496,578		-		-		6,600,452
Total mortgage			$	264,227	$	225,293	$	178,709	$	215,779	$	230,198	$	5,655,937	$	-	$	-	$	6,770,143
Leasing
		Substandard	$	200	$	822	$	748	$	913	$	617	$	136	$	-	$	-	$	3,436
		Pass		480,964		315,022		209,340		109,708		63,955		15,236		-		-		1,194,225
Total leasing			$	481,164	$	315,844	$	210,088	$	110,621	$	64,572	$	15,372	$	-	$	-	$	1,197,661

December 31, 2020
				Term Loans													Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost Basis
				Amortized Cost Basis by Origination Year
(In thousands)					2020		2019		2018		2017		2016		Prior Years						Total
Puerto Rico
	Consumer:
		Credit cards
			Substandard	$	-	$	-	$	-	$	-	$	-	$	-	$	12,798	$	-	$	12,798
			Pass		-		-		-		-		-		-		907,137		-		907,137
	Total credit cards			$	-	$	-	$	-	$	-	$	-	$	-	$	919,935	$	-	$	919,935
		HELOCs
			Pass	$	-	$	-	$	-	$	-	$	-	$	540	$	3,639	$	-	$	4,179
	Total HELOCs			$	-	$	-	$	-	$	-	$	-	$	540	$	3,639	$	-	$	4,179
		Personal
			Substandard	$	1,288	$	4,782	$	1,741	$	1,022	$	971	$	18,647	$	152	$	1,545	$	30,148
			Pass		323,170		413,973		168,142		99,768		57,319		137,693		2,144		45,390		1,247,599
	Total Personal			$	324,458	$	418,755	$	169,883	$	100,790	$	58,290	$	156,340	$	2,296	$	46,935	$	1,277,747
		Auto
			Substandard	$	1,975	$	6,029	$	3,612	$	1,760	$	1,369	$	990	$	-	$	-	$	15,735
			Pass		1,064,082		881,343		628,657		299,677		168,157		74,577		-		-		3,116,493
	Total Auto			$	1,066,057	$	887,372	$	632,269	$	301,437	$	169,526	$	75,567	$	-	$	-	$	3,132,228
		Other consumer
			Substandard	$	-	$	16	$	1,376	$	240	$	174	$	13,075	$	-	$	-	$	14,881
			Pass		16,912		15,698		13,158		4,966		2,828		3,785		54,437		-		111,784
	Total Other consumer			$	16,912	$	15,714	$	14,534	$	5,206	$	3,002	$	16,860	$	54,437	$	-	$	126,665
Total Puerto Rico				$	4,144,156	$	2,806,059	$	1,891,507	$	1,314,086	$	1,073,436	$	8,371,837	$	1,925,264	$	46,935	$	21,573,280

December 31, 2020
				Term Loans													Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost Basis
				Amortized Cost Basis by Origination Year
(In thousands)					2020		2019		2018		2017		2016		Prior Years						Total
Popular U.S.
	Commercial:
		Commercial multi-family
			Watch	$	1,643	$	16,787	$	39,980	$	39,713	$	52,989	$	61,369	$	-	$	-	$	212,481
			Special mention		3,122		30,708		4,380		19,593		37,745		20,463		-		-		116,011
			Substandard		-		17,376		21,771		1,755		20,085		6,247		-		-		67,234
			Pass		326,008		289,652		163,812		100,555		132,400		332,709		2,849		-		1,347,985
		Total commercial multi-family		$	330,773	$	354,523	$	229,943	$	161,616	$	243,219	$	420,788	$	2,849	$	-	$	1,743,711
		Commercial real estate non-owner occupied
			Watch	$	10,057	$	23,877	$	76,629	$	56,112	$	49,166	$	62,766	$	1,055	$	-	$	279,662
			Special Mention		-		4,760		15,304		14,623		70,224		20,028		350		-		125,289
			Substandard		771		18,642		36,495		11,007		40,528		28,984		-		-		136,427
			Pass		397,686		231,904		224,256		236,008		142,432		214,495		5,651		-		1,452,432
		Total commercial real estate non-owner occupied		$	408,514	$	279,183	$	352,684	$	317,750	$	302,350	$	326,273	$	7,056	$	-	$	1,993,810
		Commercial real estate owner occupied
			Watch	$	393	$	8,266	$	7,941	$	4,060	$	16,689	$	16,108	$	4,222	$	-	$	57,679
			Special Mention		-		-		192		-		-		1,467		-		-		1,659
			Substandard		-		1,152		2,361		-		1,348		20,305		-		-		25,166
			Pass		48,684		47,484		47,451		28,761		18,296		68,739		461		-		259,876
		Total commercial real estate owner occupied		$	49,077	$	56,902	$	57,945	$	32,821	$	36,333	$	106,619	$	4,683	$	-	$	344,380

	Commercial and industrial
		Watch	$	16,126	$	1,973	$	30	$	3,621	$	1,196	$	7,557	$	3,972	$	-	$	34,475
		Special Mention		14,056		-		-		1,634		4,807		4,577		1,637		-		26,711
		Substandard		2,029		6,568		-		-		-		2,232		2,394		-		13,223
		Pass		410,265		196,958		198,249		132,993		123,762		298,877		101,250		-		1,462,354
	Total commercial and industrial		$	442,476	$	205,499	$	198,279	$	138,248	$	129,765	$	313,243	$	109,253	$	-	$	1,536,763
Construction
		Watch	$	8,451	$	-	$	-	$	37,015	$	-	$	-	$	-	$	-	$	45,466
		Special Mention		-		-		-		3,089		-		30,083		-		-		33,172
		Substandard		-		-		20,655		9,372		7,560		-		-		-		37,587
		Pass		79,489		288,865		168,411		99,814		8,392		463		-		-		645,434
Total construction			$	87,940	$	288,865	$	189,066	$	149,290	$	15,952	$	30,546	$	-	$	-	$	761,659
Mortgage
		Substandard	$	29	$	-	$	1,221	$	-	$	328	$	13,287	$	-	$	-	$	14,865
		Pass		356,839		275,289		103,160		9,337		9,530		351,517		-		-		1,105,672
Total mortgage			$	356,868	$	275,289	$	104,381	$	9,337	$	9,858	$	364,804	$	-	$	-	$	1,120,537
Legacy
		Watch	$	-	$	-	$	-	$	-	$	-	$	2,996	$	-	$	-	$	2,996
		Special Mention		-		-		-		-		-		179		-		-		179
		Substandard		-		-		-		-		-		3,748		-		-		3,748
		Pass		84		-		-		-		-		7,347		1,119		-		8,550
Total legacy			$	84	$	-	$	-	$	-	$	-	$	14,270	$	1,119	$	-	$	15,473

December 31, 2020
				Term Loans													Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost Basis
				Amortized Cost Basis by Origination Year
(In thousands)					2020		2019		2018		2017		2016		Prior Years						Total
Popular U.S.
	Consumer:
		Credit cards
			Pass	$	-	$	-	$	-	$	-	$	-	$	-	$	31	$	-	$	31
	Total credit cards			$	-	$	-	$	-	$	-	$	-	$	-	$	31	$	-	$	31
		HELOCs
			Substandard	$	-	$	-	$	-	$	-	$	-	$	112	$	-	$	357	$	469
			Loss		-		-		-		-		-		156		-		6,867		7,023
			Pass		-		-		-		-		-		11,907		39,366		35,806		87,079
	Total HELOCs			$	-	$	-	$	-	$	-	$	-	$	12,175	$	39,366	$	43,030	$	94,571
		Personal
			Substandard	$	83	$	784	$	165	$	74	$	18	$	6	$	-	$	-	$	1,130
			Loss		-		17		63		12		6		244		2		-		344
			Pass		40,539		109,606		27,693		9,623		1,855		8,256		192		-		197,764
	Total Personal			$	40,622	$	110,407	$	27,921	$	9,709	$	1,879	$	8,506	$	194	$	-	$	199,238
		Other consumer
			Substandard	$	-		-		-		-		-		-		20		-		20
			Pass	$	-	$	-	$	-	$	-	$	-	$	-	$	1,723	$	-	$	1,723
	Total Other consumer			$	-	$	-	$	-	$	-	$	-	$	-	$	1,743	$	-	$	1,743
Total Popular U.S.				$	1,716,354	$	1,570,668	$	1,160,219	$	818,771	$	739,356	$	1,597,224	$	166,294	$	43,030	$	7,811,916

December 31, 2020
				Term Loans													Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost Basis
				Amortized Cost Basis by Origination Year
(In thousands)					2020		2019		2018		2017		2016		Prior Years						Total
Popular, Inc.
	Commercial:
		Commercial multi-family
			Watch	$	1,643	$	16,787	$	39,980	$	39,713	$	52,989	$	61,829	$	-	$	-	$	212,941
			Special mention		3,122		30,708		4,380		19,593		37,745		24,623		-		-		120,171
			Substandard		-		17,376		21,771		1,755		20,085		6,647		100		-		67,734
			Pass		331,224		326,085		189,863		102,661		134,963		407,500		2,849		-		1,495,145
		Total commercial multi-family		$	335,989	$	390,956	$	255,994	$	163,722	$	245,782	$	500,599	$	2,949	$	-	$	1,895,991
		Commercial real estate non-owner occupied
			Watch	$	171,017	$	97,438	$	104,221	$	96,766	$	82,443	$	260,678	$	3,155	$	-	$	815,718
			Special Mention		-		31,091		139,864		44,334		90,119		82,867		1,186		-		389,461
			Substandard		44,170		92,945		63,294		15,939		70,502		159,202		95		-		446,147
			Pass		486,010		285,289		264,070		296,593		267,075		741,777		9,003		-		2,349,817
		Total commercial real estate non-owner occupied		$	701,197	$	506,763	$	571,449	$	453,632	$	510,139	$	1,244,524	$	13,439	$	-	$	4,001,143
		Commercial real estate owner occupied
			Watch	$	96,439	$	18,585	$	22,353	$	13,820	$	26,273	$	162,553	$	6,849	$	-	$	346,872
			Special Mention		850		6,638		441		6,571		282		173,545		-		-		188,327
			Substandard		1,774		3,333		40,047		1,878		28,442		165,498		-		-		240,972
			Doubtful		-		-		-		-		-		1,714		-		-		1,714
			Pass		253,524		101,758		79,368		86,615		146,688		486,115		11,322		-		1,165,390
		Total commercial real estate owner occupied		$	352,587	$	130,314	$	142,209	$	108,884	$	201,685	$	989,425	$	18,171	$	-	$	1,943,275
		Commercial and industrial
			Watch	$	147,682	$	79,794	$	182,806	$	43,939	$	65,164	$	275,413	$	247,307	$	-	$	1,042,105
			Special Mention		42,366		10,297		19,220		47,495		5,717		33,084		87,900		-		246,079
			Substandard		34,970		8,748		26,921		26,769		1,824		57,452		51,430		-		208,114
			Doubtful		-		67		-		1		-		54		1		-		123
			Loss		-		-		-		-		-		-		13		-		13
			Pass		1,591,664		689,736		317,958		301,167		229,204		517,593		622,115		-		4,269,437
		Total commercial and industrial		$	1,816,682	$	788,642	$	546,905	$	419,371	$	301,909	$	883,596	$	1,008,766	$	-	$	5,765,871

December 31, 2020
			Term Loans													Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost Basis
			Amortized Cost Basis by Origination Year
(In thousands)				2020		2019		2018		2017		2016		Prior Years						Total
Popular, Inc.
	Construction
		Watch	$	8,451	$	105	$	4,895	$	37,015	$	-	$	-	$	960	$	-	$	51,426
		Special Mention		-		-		-		3,089		-		30,083		-		-		33,172
		Substandard		-		-		20,655		30,869		7,560		-		-		-		59,084
		Pass		95,212		311,273		171,834		163,396		8,392		463		24,513		-		775,083
	Total construction		$	103,663	$	311,378	$	197,384	$	234,369	$	15,952	$	30,546	$	25,473	$	-	$	918,765
	Mortgage
		Substandard	$	783	$	903	$	2,393	$	3,129	$	4,702	$	172,646	$	-	$	-	$	184,556
		Pass		620,312		499,679		280,697		221,987		235,354		5,848,095		-		-		7,706,124
	Total mortgage		$	621,095	$	500,582	$	283,090	$	225,116	$	240,056	$	6,020,741	$	-	$	-	$	7,890,680
	Legacy
		Watch	$	-	$	-	$	-	$	-	$	-	$	2,996	$	-	$	-	$	2,996
		Special Mention		-		-		-		-		-		179		-		-		179
		Substandard		-		-		-		-		-		3,748		-		-		3,748
		Pass		84		-		-		-		-		7,347		1,119		-		8,550
	Total legacy		$	84	$	-	$	-	$	-	$	-	$	14,270	$	1,119	$	-	$	15,473
	Leasing
		Substandard	$	200	$	822	$	748	$	913	$	617	$	136	$	-	$	-	$	3,436
		Pass		480,964		315,022		209,340		109,708		63,955		15,236		-		-		1,194,225
	Total leasing		$	481,164	$	315,844	$	210,088	$	110,621	$	64,572	$	15,372	$	-	$	-	$	1,197,661

December 31, 2020
				Term Loans													Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost Basis
				Amortized Cost Basis by Origination Year
(In thousands)					2020		2019		2018		2017		2016		Prior Years						Total
Popular, Inc.
	Consumer:
		Credit cards
			Substandard	$	-	$	-	$	-	$	-	$	-	$	-	$	12,798	$	-	$	12,798
			Pass		-		-		-		-		-		-		907,168		-		907,168
	Total credit cards			$	-	$	-	$	-	$	-	$	-	$	-	$	919,966	$	-	$	919,966
		HELOCs
			Substandard	$	-	$	-	$	-	$	-	$	-	$	112	$	-	$	357	$	469
			Loss		-		-		-		-		-		156		-		6,867		7,023
			Pass		-		-		-		-		-		12,447		43,005		35,806		91,258
	Total HELOCs			$	-	$	-	$	-	$	-	$	-	$	12,715	$	43,005	$	43,030	$	98,750
		Personal
			Substandard	$	1,371	$	5,566	$	1,906	$	1,096	$	989	$	18,653	$	152	$	1,545	$	31,278
			Loss		-		17		63		12		6		244		2		-		344
			Pass		363,709		523,579		195,835		109,391		59,174		145,949		2,336		45,390		1,445,363
	Total Personal			$	365,080	$	529,162	$	197,804	$	110,499	$	60,169	$	164,846	$	2,490	$	46,935	$	1,476,985
		Auto
			Substandard	$	1,975	$	6,029	$	3,612	$	1,760	$	1,369	$	990	$	-	$	-	$	15,735
			Pass		1,064,082		881,343		628,657		299,677		168,157		74,577		-		-		3,116,493
	Total Auto			$	1,066,057	$	887,372	$	632,269	$	301,437	$	169,526	$	75,567	$	-	$	-	$	3,132,228
		Other consumer
			Substandard	$	-	$	16	$	1,376	$	240	$	174	$	13,075	$	20	$	-	$	14,901
			Pass		16,912		15,698		13,158		4,966		2,828		3,785		56,160		-		113,507
	Total Other consumer			$	16,912	$	15,714	$	14,534	$	5,206	$	3,002	$	16,860	$	56,180	$	-	$	128,408
Total Popular Inc.				$	5,860,510	$	4,376,727	$	3,051,726	$	2,132,857	$	1,812,792	$	9,969,061	$	2,091,558	$	89,965	$	29,385,196

The following table presents the outstanding balance, net of unearned income, of loans held-in-portfolio based on the Corporation’s assignment of obligor risk ratings as defined at December 31, 2019.

December 31, 2019
				Special
(In thousands)		Watch		Mention		Substandard		Doubtful		Loss		Sub-total		Pass		Total
Puerto Rico
Commercial multi-family		$	1,341	$	3,870	$	1,793	$	-	$	-	$	7,004	$	140,845	$	147,849
Commercial real estate non-owner occupied			492,357		166,810		239,448		3,290		-		901,905		1,206,313		2,108,218
Commercial real estate owner occupied			192,895		184,678		183,377		1,629		-		562,579		1,023,750		1,586,329
Commercial and industrial			592,861		170,183		130,872		148		16		894,080		2,524,654		3,418,734
	Total Commercial		1,279,454		525,541		555,490		5,067		16		2,365,568		4,895,562		7,261,130
Construction			340		649		20,771		-		-		21,760		115,710		137,470
Mortgage			2,187		2,218		127,621		-		-		132,026		6,034,722		6,166,748
Leasing			-		-		3,590		-		68		3,658		1,055,849		1,059,507
Consumer:
	Credit cards		-		-		19,461		-		-		19,461		1,104,339		1,123,800
	HELOCs		-		-		-		-		-		-		5,038		5,038
	Personal		77		-		19,558		-		-		19,635		1,348,515		1,368,150
	Auto		-		-		30,775		-		372		31,147		2,886,375		2,917,522
	Other		459		11		15,020		-		53		15,543		125,324		140,867
	Total Consumer		536		11		84,814		-		425		85,786		5,469,591		5,555,377
Total Puerto Rico		$	1,282,517	$	528,419	$	792,286	$	5,067	$	509	$	2,608,798	$	17,571,434	$	20,180,232
Popular U.S.
Commercial multi-family		$	48,359	$	13,827	$	8,433	$	-	$	-	$	70,619	$	1,576,691	$	1,647,310
Commercial real estate non-owner occupied			80,608		24,383		100,658		-		-		205,649		1,664,647		1,870,296
Commercial real estate owner occupied			27,298		5,709		13,826		-		-		46,833		292,302		339,135
Commercial and industrial			25,679		1,460		20,386		-		-		47,525		1,147,355		1,194,880
	Total Commercial		181,944		45,379		143,303		-		-		370,626		4,680,995		5,051,621
Construction			46,644		17,291		44,798		-		-		108,733		584,889		693,622
Mortgage			-		-		11,091		-		-		11,091		1,005,693		1,016,784
Legacy			388		202		1,528		-		-		2,118		19,987		22,105
Consumer:
	Credit cards		-		-		-		-		-		-		36		36
	HELOCs		-		-		2,024		-		7,930		9,954		107,389		117,343
	Personal		-		-		1,664		-		403		2,067		322,373		324,440
	Other		-		-		-		-		-		-		690		690
	Total Consumer		-		-		3,688		-		8,333		12,021		430,488		442,509
Total Popular U.S.		$	228,976	$	62,872	$	204,408	$	-	$	8,333	$	504,589	$	6,722,052	$	7,226,641
Popular, Inc.
Commercial multi-family		$	49,700	$	17,697	$	10,226	$	-	$	-	$	77,623	$	1,717,536	$	1,795,159
Commercial real estate non-owner occupied			572,965		191,193		340,106		3,290		-		1,107,554		2,870,960		3,978,514
Commercial real estate owner occupied			220,193		190,387		197,203		1,629		-		609,412		1,316,052		1,925,464
Commercial and industrial			618,540		171,643		151,258		148		16		941,605		3,672,009		4,613,614
	Total Commercial		1,461,398		570,920		698,793		5,067		16		2,736,194		9,576,557		12,312,751
Construction			46,984		17,940		65,569		-		-		130,493		700,599		831,092
Mortgage			2,187		2,218		138,712		-		-		143,117		7,040,415		7,183,532
Legacy			388		202		1,528		-		-		2,118		19,987		22,105
Leasing			-		-		3,590		-		68		3,658		1,055,849		1,059,507
Consumer:
	Credit cards		-		-		19,461		-		-		19,461		1,104,375		1,123,836
	HELOCs		-		-		2,024		-		7,930		9,954		112,427		122,381
	Personal		77		-		21,222		-		403		21,702		1,670,888		1,692,590
	Auto		-		-		30,775		-		372		31,147		2,886,375		2,917,522
	Other		459		11		15,020		-		53		15,543		126,014		141,557
	Total Consumer		536		11		88,502		-		8,758		97,807		5,900,079		5,997,886
Total Popular, Inc.		$	1,511,493	$	591,291	$	996,694	$	5,067	$	8,842	$	3,113,387	$	24,293,486	$	27,406,873
The following table presents the weighted average obligor risk rating at December 31, 2019 for those classifications that consider a range of rating scales.

Weighted average obligor risk rating		(Scales 11 and 12)			(Scales 1 through 8)
Puerto Rico:			Substandard			Pass
Commercial multi-family				11.82		6.02
Commercial real estate non-owner occupied				11.17		6.77
Commercial real estate owner occupied				11.36		7.30
Commercial and industrial				11.26		7.20
	Total Commercial			11.25		7.10
Construction				11.01		7.85
Popular U.S.:			Substandard			Pass
Commercial multi-family				11.25		7.37
Commercial real estate non-owner occupied				11.00		6.94
Commercial real estate owner occupied				11.02		7.48
Commercial and industrial				11.01		6.63
	Total Commercial			11.02		7.04
Construction				11.00		7.74
Legacy				11.25		7.95

For changes in the allowance for credit losses, loan ending balances and whether such loans and the allowance pertained to loans individually or collectively evaluated for impairment for the year ended December 31, 2019, refer to the allowance activity section of this note.

Impaired loans

The following tables present loans individually evaluated for impairment at December 31, 2019.

December 31, 2019
Puerto Rico
	Impaired Loans – With an						Impaired Loans
	Allowance						With No Allowance				Impaired Loans - Total
			Unpaid						Unpaid				Unpaid
	Recorded		principal		Related		Recorded		principal		Recorded		principal			Related
(In thousands)	investment		balance		allowance		investment		balance		investment		balance			allowance
Commercial multi-family	$	1,196	$	1,229	$	4	$	1,017	$	1,247	$	2,213	$	2,476	$	4
Commercial real estate non-owner occupied		44,975		45,803		12,281		149,587		173,124		194,562		218,927		12,281
Commercial real estate owner occupied		105,841		122,814		5,077		26,365		58,540		132,206		181,354		5,077
Commercial and industrial		43,640		47,611		3,171		24,831		44,255		68,471		91,866		3,171
Construction		119		119		6		-		-		119		119		6
Mortgage		420,949		479,936		40,596		101,520		134,331		522,469		614,267		40,596
Leasing		507		507		61		-		-		507		507		61
Consumer:
Credit cards		24,475		24,475		2,957		-		-		24,475		24,475		2,957
Personal		65,521		65,521		17,142		-		-		65,521		65,521		17,142
Auto		310		310		51		-		-		310		310		51
Other		851		851		109		-		-		851		851		109
Total Puerto Rico	$	708,384	$	789,176	$	81,455	$	303,320	$	411,497	$	1,011,704	$	1,200,673	$	81,455

December 31, 2019
Popular U.S.
	Impaired Loans – With an						Impaired Loans
	Allowance						With No Allowance				Impaired Loans - Total
			Unpaid						Unpaid				Unpaid
	Recorded		principal		Related		Recorded		principal		Recorded		principal		Related
(In thousands)	investment		balance		allowance		investment		balance		investment		balance		allowance
Commercial multi-family	$	-	$	-	$	-	$	2,097	$	2,539	$	2,097	$	2,539	$	-
Mortgage		6,906		7,257		2,208		2,480		2,844		9,386		10,101		2,208
Consumer:
HELOCs		6,691		6,691		1,560		2,829		3,087		9,520		9,778		1,560
Personal		26		26		3		88		88		114		114		3
Total Popular U.S.	$	13,623	$	13,974	$	3,771	$	7,494	$	8,558	$	21,117	$	22,532	$	3,771

December 31, 2019
Popular, Inc.
	Impaired Loans – With an						Impaired Loans
	Allowance						With No Allowance				Impaired Loans - Total
			Unpaid						Unpaid				Unpaid
	Recorded		principal		Related		Recorded		principal		Recorded		principal		Related
(In thousands)	investment		balance		allowance		investment		balance		investment		balance		allowance
Commercial multi-family	$	1,196	$	1,229	$	4	$	3,114	$	3,786	$	4,310	$	5,015	$	4
Commercial real estate non-owner occupied		44,975		45,803		12,281		149,587		173,124		194,562		218,927		12,281
Commercial real estate owner occupied		105,841		122,814		5,077		26,365		58,540		132,206		181,354		5,077
Commercial and industrial		43,640		47,611		3,171		24,831		44,255		68,471		91,866		3,171
Construction		119		119		6		-		-		119		119		6
Mortgage		427,855		487,193		42,804		104,000		137,175		531,855		624,368		42,804
Leasing		507		507		61		-		-		507		507		61
Consumer:
Credit cards		24,475		24,475		2,957		-		-		24,475		24,475		2,957
HELOCs		6,691		6,691		1,560		2,829		3,087		9,520		9,778		1,560
Personal		65,547		65,547		17,145		88		88		65,635		65,635		17,145
Auto		310		310		51		-		-		310		310		51
Other		851		851		109		-		-		851		851		109
Total Popular, Inc.	$	722,007	$	803,150	$	85,226	$	310,814	$	420,055	$	1,032,821	$	1,223,205	$	85,226

The following table presents the average recorded investment and interest income recognized on impaired loans for the year ended December 31, 2019.

For the year ended December 31, 2019
	Puerto Rico				Popular U.S.				Popular, Inc.
	Average		Interest		Average		Interest		Average		Interest
	recorded		income		recorded		income		recorded		income
(In thousands)	investment		recognized		investment		recognized		investment		recognized
Commercial multi-family	$	1,470	$	50	$	1,343	$	-	$	2,813	$	50
Commercial real estate non-owner occupied		183,233		5,742		-		-		183,233		5,742
Commercial real estate owner occupied		137,710		6,528		626		-		138,336		6,528
Commercial and industrial		71,828		4,097		-		-		71,828		4,097
Construction		1,151		25		9,248		-		10,399		25
Mortgage		518,487		16,810		9,416		153		527,903		16,963
Leasing		823		-		-		-		823		-
Consumer:
Credit cards		26,775		-		-		-		26,775		-
HELOCs		-		-		8,988		-		8,988		-
Personal		69,664		282		380		-		70,044		282
Auto		823		-		-		-		823		-
Other		1,044		-		-		-		1,044		-
Total Popular, Inc.	$	1,013,008	$	33,534	$	30,001	$	153	$	1,043,009	$	33,687