Loans (Tables)

12 Months Ended

Dec. 31, 2020

Accounts, Notes, Loans and Financing Receivable

Purchased Financial Assets With Credit Deterioration

Purchased Credit Deteriorated Loans (PCD)

The Corporation has purchased loans during the year, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans is as follows:

(In thousands)		December 31, 2020
Purchase price of loans at acquisition	$	152,667
Allowance for credit losses at acquisition		7,512
Non-credit premium at acquisition		(6,542)
Par value of acquired loans at acquisition	$	153,637

Net Financing Leases [Table Text Block]

(In thousands)			2020		2019
Total minimum lease payments		$	957,367	$	863,755
Estimated residual value of leased property (unguaranteed)			419,024		356,560
Deferred origination costs, net of fees			18,141		15,422
	Less - Unearned financing income		196,788		176,121
Net minimum lease payments			1,197,744		1,059,616
	Less - Allowance for credit losses		16,863		10,768
Net minimum lease payments, net of allowance for credit losses		$	1,180,881	$	1,048,848

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

(In thousands)
2021	$	60,939
2022		90,701
2023		150,169
2024		212,591
2025 and thereafter		442,967
Total	$	957,367

ASC Subtopic 310-30

Accounts, Notes, Loans and Financing Receivable

Disclosure of carrying amount of loans acquired

Carrying amount
(In thousands)		December 31, 2019
Commercial real estate	$	670,566
Commercial and industrial		104,756
Mortgage		856,618
Consumer		11,778
Carrying amount		1,643,718
Allowance for loan losses		(74,039)
Carrying amount, net of allowance	$	1,569,679

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period

Changes in the carrying amount and the accretable yield for the loans accounted pursuant to the ASC Subtopic 310-30, for the year ended December 31, 2019, were as follows:

Carrying amount of acquired loans accounted for pursuant to ASC 310-30
(In thousands)		For the year ended December 31, 2019
Beginning balance			$	1,883,556
Additions				39,492
Accretion				144,976
Collections / loan sales / charge-offs				(424,306)
Ending balance[1]			$	1,643,718
Allowance for loan losses				(74,039)
Ending balance, net of ALLL			$	1,569,679
[1]	At December 31, 2019, includes $1.2 billion of loans considered non-credit impaired at the acquisition date.

Activity in the accretable yield of acquired loans accounted for pursuant to ASC 310-30
(In thousands)		For the year ended December 31, 2019
Beginning balance			$	1,092,504
Additions				23,556
Accretion				(144,976)
Change in expected cash flows				30,258
Ending balance[1]			$	1,001,342
[1]	At December 31, 2019, includes $0.7 billion for loans considered non-credit impaired at the acquisition date.

Loans Held in Portfolio

Accounts, Notes, Loans and Financing Receivable

Past due financing receivables

The following table presents the amortized cost basis of loans held-in-portfolio (“HIP”), net of unearned income, by past due status, and by loan class including those that are in non-performing status or that are accruing interest but are past due 90 days or more at December 31, 2020 and December 31, 2019.

December 31, 2020
Puerto Rico
			Past due											Past due 90 days or more
		30-59		60-89		90 days		Total						Non-accrual			Accruing
(In thousands)		days		days		or more[1]		past due		Current		Loans HIP		loans		loans
Commercial multi-family		$	796	$	-	$	505	$	1,301	$	150,979	$	152,280	$	505	$	-
Commercial real estate:
	Non-owner occupied		2,189		3,503		77,137		82,829		1,924,504		2,007,333		77,137		-
	Owner occupied		8,270		1,218		92,001		101,489		1,497,406		1,598,895		92,001		-
Commercial and industrial			10,223		775		35,012		46,010		4,183,098		4,229,108		34,449		563
Construction			-		-		21,497		21,497		135,609		157,106		21,497		-
Mortgage			195,602		87,726		1,428,824		1,712,152		5,057,991		6,770,143		414,343		1,014,481	[2]
Leasing			9,141		1,427		3,441		14,009		1,183,652		1,197,661		3,441		-
Consumer:
	Credit cards		6,550		4,619		12,798		23,967		895,968		919,935		-		12,798
	Home equity lines of credit		184		-		48		232		3,947		4,179		-		48
	Personal		11,255		8,097		26,387		45,739		1,232,008		1,277,747		26,387		-
	Auto		53,186		12,696		15,736		81,618		3,050,610		3,132,228		15,736		-
	Other		304		483		15,052		15,839		110,826		126,665		14,881		171
Total		$	297,700	$	120,544	$	1,728,438	$	2,146,682	$	19,426,598	$	21,573,280	$	700,377	$	1,028,061
[1]	Loans included as 90 days or more past due include loans that that are not delinquent in their payment terms but that are reported as non-performing due to other credit quality considerations. As part of the adoption of CECL, at January 1, 2020, the Corporation reclassified to this category $134 million of acquired loans with credit deterioration that were previously accounted for under ASC 310-30 and were excluded from non-performing status. In addition, as part of the CECL transition, an additional $125 million of loans that were 90 days or more past due previously accounted for under ASC 310-30 and excluded from non-performing status are now included as non-performing.
[2]	It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. These include $57 million in loans rebooked under the GNMA program at December 31, 2020, in which issuers such as BPPR have the option but not the obligation to repurchase loans that are 90 days or more past due.

December 31, 2020
Popular U.S.
			Past due											Past due 90 days or more
		30-59		60-89		90 days		Total						Non-accrual			Accruing
(In thousands)		days		days		or more		past due		Current		Loans HIP		loans		loans
Commercial multi-family		$	5,273	$	-	$	1,894	$	7,167	$	1,736,544	$	1,743,711	$	1,894	$	-
Commercial real estate:
	Non-owner occupied		924		3,640		669		5,233		1,988,577		1,993,810		669		-
	Owner occupied		191		650		334		1,175		343,205		344,380		334		-
Commercial and industrial			1,112		65		1,580		2,757		1,534,006		1,536,763		1,580		-
Construction			21,312		-		7,560		28,872		732,787		761,659		7,560		-
Mortgage			33,422		15,464		14,864		63,750		1,056,787		1,120,537		14,864		-
Legacy			5		7		1,511		1,523		13,950		15,473		1,511		-
Consumer:
	Credit cards		-		-		3		3		28		31		-		3
	Home equity lines of credit		236		342		7,491		8,069		86,502		94,571		7,491		-
	Personal		1,486		1,342		1,474		4,302		194,936		199,238		1,474		-
	Other		-		-		20		20		1,723		1,743		20		-
Total		$	63,961	$	21,510	$	37,400	$	122,871	$	7,689,045	$	7,811,916	$	37,397	$	3

December 31, 2020
Popular, Inc.
			Past due											Past due 90 days or more
		30-59		60-89		90 days		Total						Non-accrual			Accruing
(In thousands)		days		days		or more[3]		past due		Current		Loans HIP[4] [5]		loans		loans
Commercial multi-family		$	6,069	$	-	$	2,399	$	8,468	$	1,887,523	$	1,895,991	$	2,399	$	-
Commercial real estate:
	Non-owner occupied		3,113		7,143		77,806		88,062		3,913,081		4,001,143		77,806		-
	Owner occupied		8,461		1,868		92,335		102,664		1,840,611		1,943,275		92,335		-
Commercial and industrial			11,335		840		36,592		48,767		5,717,104		5,765,871		36,029		563
Construction			21,312		-		29,057		50,369		868,396		918,765		29,057		-
Mortgage[1]			229,024		103,190		1,443,688		1,775,902		6,114,778		7,890,680		429,207		1,014,481	[6]
Leasing			9,141		1,427		3,441		14,009		1,183,652		1,197,661		3,441		-
Legacy[2]			5		7		1,511		1,523		13,950		15,473		1,511		-
Consumer:
	Credit cards		6,550		4,619		12,801		23,970		895,996		919,966		-		12,801
	Home equity lines of credit		420		342		7,539		8,301		90,449		98,750		7,491		48
	Personal		12,741		9,439		27,861		50,041		1,426,944		1,476,985		27,861		-
	Auto		53,186		12,696		15,736		81,618		3,050,610		3,132,228		15,736		-
	Other		304		483		15,072		15,859		112,549		128,408		14,901		171
Total		$	361,661	$	142,054	$	1,765,838	$	2,269,553	$	27,115,643	$	29,385,196	$	737,774	$	1,028,064

[1]	It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured.
[2]	The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the Popular U.S. segment.
[3]	Loans included as 90 days or more past due include loans that that are not delinquent in their payment terms but that are reported as non-performing due to other credit quality considerations. As part of the adoption of CECL, at January 1, 2020, the Corporation reclassified to this category $134 million of acquired loans with credit deterioration that were previously accounted for under ASC 310-30 and were excluded from non-performing status. In addition, as part of the CECL transition, an additional $144 million of loans that were 90 days or more past due previously accounted for under ASC 310-30 and excluded from non-performing status are now included as non-performing.
[4]	Loans held-in-portfolio are net of $ 203 million in unearned income and exclude $ 99 million in loans held-for-sale.
[5]	Includes $6.5 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.1 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings and $2.4 billion at the Federal Reserve Bank ("FRB") for discount window borrowings.
[6]	It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. These include loans rebooked, which were previously pooled into GNMA securities amounting to $57 million. Under the GNMA program, issuers such as BPPR have the option but not the obligation to repurchase loans that are 90 days or more past due. For accounting purposes, these loans subject to the repurchase option are required to be reflected (rebooked)on the financial statements of BPPR with an offsetting liability. Loans in our serviced GNMA portfolio benefit from payment forbearance programs but continue to reflect the contractual delinquency until the borrower repays deferred payments or completes a payment deferral modification or other borrower assistance alternative.

December 31, 2019
Puerto Rico
			Past due											Past due 90 days or more
			30-59		60-89		90 days	Total						Non-accrual			Accruing
(In thousands)			days		days		or more	past due		Current		Loans HIP		loans		loans[1]
Commercial multi-family		$	2,941	$	129	$	1,512	$	4,582	$	143,267	$	147,849	$	1,473	$	-
Commercial real estate:
	Non-owner occupied		10,439		5,244		43,664		59,347		2,048,871		2,108,218		39,968		-
	Owner occupied		5,704		3,978		84,537		94,219		1,492,110		1,586,329		69,276		-
Commercial and industrial			8,780		1,646		37,156		47,582		3,371,152		3,418,734		36,538		544
Construction			1,555		-		119		1,674		135,796		137,470		119		-
Mortgage			285,006		146,197		837,651		1,268,854		4,897,894		6,166,748		283,708		439,662
Leasing			12,014		3,053		3,657		18,724		1,040,783		1,059,507		3,657		-
Consumer:
	Credit cards		11,358		7,928		19,461		38,747		1,085,053		1,123,800		-		19,461
	Home equity lines of credit		-		85		-		85		4,953		5,038		-		-
	Personal		13,481		9,352		20,296		43,129		1,325,021		1,368,150		19,529		61
	Auto		81,169		23,182		31,148		135,499		2,782,023		2,917,522		31,148		-
	Other		358		1,418		14,189		15,965		124,902		140,867		13,784		405
Total		$	432,805	$	202,212	$	1,093,390	$	1,728,407	$	18,451,825	$	20,180,232	$	499,200	$	460,133
[1]	Loans HIP of $134 million accounted for under ASC Subtopic 310-30 are excluded from the above table as they are considered to be performing due to the application of the accretion method, in which these loans would accrete interest income over the remaining life of the loans using estimated cash flow analysis.

December 31, 2019
Popular U.S.
			Past due											Past due 90 days or more
			30-59		60-89		90 days		Total					Non-accrual			Accruing
(In thousands)			days		days		or more		past due		Current		Loans HIP	loans		loans[1]
Commercial multi-family		$	9	$	-	$	2,097	$	2,106	$	1,645,204	$	1,647,310	$	2,097	$	-
Commercial real estate:
	Non-owner occupied		1,047		-		281		1,328		1,868,968		1,870,296		281		-
	Owner occupied		1,750		-		251		2,001		337,134		339,135		251		-
Commercial and industrial			454		128		19,945		20,527		1,174,353		1,194,880		876		-
Construction			-		-		26		26		693,596		693,622		26		-
Mortgage			15,474		4,024		11,091		30,589		986,195		1,016,784		11,091		-
Legacy			49		8		1,999		2,056		20,049		22,105		1,999		-
Consumer:
	Credit cards		-		-		-		-		36		36		-		-
	Home equity lines of credit		404		267		9,954		10,625		106,718		117,343		9,954		-
	Personal		2,286		1,582		2,066		5,934		318,506		324,440		2,066		-
	Other		3		-		-		3		687		690		-		-
Total		$	21,476	$	6,009	$	47,710	$	75,195	$	7,151,446	$	7,226,641	$	28,641	$	-
[1]	Loans HIP of $ 19 million accounted for under ASC Subtopic 310-30 are excluded from the above table as they are considered to be performing due to the application of the accretion method, in which these loans would accrete interest income over the remaining life of the loans using estimated cash flow analysis.

December 31, 2019
Popular, Inc.
			Past due											Past due 90 days or more
			30-59		60-89		90 days		Total					Non-accrual			Accruing
(In thousands)			days		days		or more		past due	Current		Loans HIP[3] [4]		loans		loans[5]
Commercial multi-family		$	2,950	$	129	$	3,609	$	6,688	$	1,788,471	$	1,795,159	$	3,570	$	-
Commercial real estate:
	Non-owner occupied		11,486		5,244		43,945		60,675		3,917,839		3,978,514		40,249		-
	Owner occupied		7,454		3,978		84,788		96,220		1,829,244		1,925,464		69,527		-
Commercial and industrial			9,234		1,774		57,101		68,109		4,545,505		4,613,614		37,414		544
Construction			1,555		-		145		1,700		829,392		831,092		145		-
Mortgage[1]			300,480		150,221		848,742		1,299,443		5,884,089		7,183,532		294,799		439,662
Leasing			12,014		3,053		3,657		18,724		1,040,783		1,059,507		3,657		-
Legacy[2]			49		8		1,999		2,056		20,049		22,105		1,999		-
Consumer:
	Credit cards		11,358		7,928		19,461		38,747		1,085,089		1,123,836		-		19,461
	Home equity lines of credit		404		352		9,954		10,710		111,671		122,381		9,954		-
	Personal		15,767		10,934		22,362		49,063		1,643,527		1,692,590		21,595		61
	Auto		81,169		23,182		31,148		135,499		2,782,023		2,917,522		31,148		-
	Other		361		1,418		14,189		15,968		125,589		141,557		13,784		405
Total		$	454,281	$	208,221	$	1,141,100	$	1,803,602	$	25,603,271	$	27,406,873	$	527,841	$	460,133

[1]	It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured.
[2]	The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the Popular U.S. segment.
[3]	Loans held-in-portfolio are net of $ 181 million in unearned income and exclude $ 59 million in loans held-for-sale.
[4]	Includes $6.7 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.6 billion were pledged at the FHLB as collateral for borrowings and $2.1 billion at the FRB for discount window borrowings.
[5]	Loans HIP of $153 million accounted for under ASC Subtopic 310-30 are excluded from the above table as they are considered to be performing due to the application of the accretion method, in which these loans would accrete interest income over the remaining life of the loans using estimated cash flow analysis.

Financing receivable non accrual status

December 31, 2020
	Puerto Rico						Popular U.S.						Popular, Inc.
(In thousands)	Non-accrual with no allowance		Non-accrual with allowance		Interest income recognized		Non-accrual with no allowance		Non-accrual with allowance		Interest income recognized		Non-accrual with no allowance		Non-accrual with allowance		Interest income recognized
Commercial multi-family	$	-	$	505	$	3	$	-	$	1,894	$	1	$	-	$	2,399	$	4
Commercial real estate non-owner occupied		35,968		41,169		276		-		669		4		35,968		41,838		280
Commercial real estate owner occupied		14,825		77,176		697		-		334		-		14,825		77,510		697
Commercial and industrial		1,148		33,301		148		-		1,580		-		1,148		34,881		148
Construction		-		21,497		-		-		7,560		78		-		29,057		78
Mortgage		141,737		272,606		1,843		517		14,347		27		142,254		286,953		1,870
Leasing		-		3,441		24		-		-		-		-		3,441		24
Legacy		-		-		-		-		1,511		-		-		1,511		-
Consumer:
HELOCs		-		-		-		-		7,491		-		-		7,491		-
Personal		9,265		17,122		234		-		1,474		-		9,265		18,596		234
Auto		-		15,736		185		-		-		-		-		15,736		185
Other		-		14,881		133		-		20		-		-		14,901		133
Total	$	202,943	$	497,434	$	3,543	$	517	$	36,880	$	110	$	203,460	$	534,314	$	3,653

Collateral dependent financial assets

		December 31, 2020
(In thousands)			Real Estate		Auto		Equipment		Taxi Medallions		Accounts Receivables		Other		Total
Puerto Rico
Commercial multi-family		$	1,301	$	-	$	-	$	-	$	-	$	-	$	1,301
Commercial real estate:
	Non-owner occupied		299,223		-		-		-		-		-		299,223
	Owner occupied		79,769		-		-		-		-		-		79,769
Commercial and industrial			7,577		-		1,438		-		10,989		12,046		32,050
Construction			21,497		-		-		-		-		-		21,497
Mortgage			181,648		-		-		-		-		-		181,648
Consumer:
	Personal		7,414		-		-		-		-		-		7,414
	Auto		-		4		-		-		-		-		4
Total Puerto Rico		$	598,429	$	4	$	1,438	$	-	$	10,989	$	12,046	$	622,906
Popular U.S.
Commercial multi-family		$	1,755	$	-	$	-	$	-	$	-	$	-	$	1,755
Commercial and industrial			-		-		-		1,545		-		-		1,545
Construction			7,560		-		-		-		-		-		7,560
Mortgage			855		-		-		-		-		-		855
Total Popular U.S.		$	10,170	$	-	$	-	$	1,545	$	-	$	-	$	11,715
Popular, Inc.
Commercial multi-family		$	3,056	$	-	$	-	$	-	$	-	$	-	$	3,056
Commercial real estate:
	Non-owner occupied		299,223		-		-		-		-		-		299,223
	Owner occupied		79,769		-		-		-		-		-		79,769
Commercial and industrial			7,577		-		1,438		1,545		10,989		12,046		33,595
Construction			29,057		-		-		-		-		-		29,057
Mortgage			182,503		-		-		-		-		-		182,503
Consumer:
	Personal		7,414		-		-		-		-		-		7,414
	Auto		-		4		-		-		-		-		4
Total Popular, Inc.		$	608,599	$	4	$	1,438	$	1,545	$	10,989	$	12,046	$	634,621