Loans (Tables)

9 Months Ended

Sep. 30, 2021

Accounts, Notes, Loans and Financing Receivable

Purchased Financial Assets With Credit Deterioration

Purchased Credit Deteriorated (PCD) Loans

The Corporation has purchased loans during the quarter and nine months ended, 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)		For the quarter ended September 30, 2021		For the nine months ended September 30, 2021
Purchase price of loans at acquisition	$	1,060	$	10,044
Allowance for credit losses at acquisition		253		2,811
Non-credit discount / (premium) at acquisition		54		389
Par value of acquired loans at acquisition	$	1,367	$	13,244

(In thousands)		For the quarter ended September 30, 2020		For the nine months ended September 30, 2020
Purchase price of loans at acquisition	$	132,738	$	137,477
Allowance for credit losses at acquisition		4,823		5,819
Non-credit discount / (premium) at acquisition		(6,485)		(6,273)
Par value of acquired loans at acquisition	$	131,076	$	137,023

Loans Held in Portfolio

Accounts, Notes, Loans and Financing Receivable

Past due financing receivables

September 30, 2021
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
Commercial multi-family		$	392	$	-	$	396	$	788	$	149,639	$	150,427	$	396	$	-
Commercial real estate:
	Non-owner occupied		661		17,383		60,143		78,187		2,268,441		2,346,628		60,143		-
	Owner occupied		2,719		614		71,863		75,196		1,394,503		1,469,699		71,863		-
Commercial and industrial			1,641		576		51,456		53,673		3,618,266		3,671,939		50,992		464
Construction			-		-		14,877		14,877		112,602		127,479		14,877		-
Mortgage[1]			197,955		76,345		896,208		1,170,508		5,204,541		6,375,049		354,555		541,653
Leasing			8,193		1,969		2,542		12,704		1,335,975		1,348,679		2,542		-
Consumer:
	Credit cards		5,211		3,667		7,558		16,436		870,139		886,575		-		7,558
	Home equity lines of credit		46		-		-		46		3,507		3,553		-		-
	Personal		9,329		5,954		21,646		36,929		1,238,448		1,275,377		21,646		-
	Auto		52,486		11,663		17,345		81,494		3,295,200		3,376,694		17,345		-
	Other		393		76		14,621		15,090		108,492		123,582		14,512		109
Total		$	279,026	$	118,247	$	1,158,655	$	1,555,928	$	19,599,753	$	21,155,681	$	608,871	$	549,784

September 30, 2021
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		$	-	$	22,171	$	-	$	22,171	$	1,709,508	$	1,731,679	$	-	$	-
Commercial real estate:
	Non-owner occupied		2,569		4,632		374		7,575		2,029,514		2,037,089		374		-
	Owner occupied		1,158		-		986		2,144		343,430		345,574		986		-
Commercial and industrial			804		1		1,428		2,233		1,548,403		1,550,636		1,427		1
Construction			14,978		-		-		14,978		658,583		673,561		-		-
Mortgage			1,369		2,833		14,488		18,690		1,145,413		1,164,103		14,488		-
Consumer:
	Credit cards		-		-		-		-		26		26		-		-
	Home equity lines of credit		690		76		5,941		6,707		73,042		79,749		5,941		-
	Personal		588		544		748		1,880		111,598		113,478		748		-
	Other		16		-		-		16		3,780		3,796		-		-
Total		$	22,172	$	30,257	$	23,965	$	76,394	$	7,623,297	$	7,699,691	$	23,964	$	1

September 30, 2021
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[2] [3]		loans		loans
Commercial multi-family		$	392	$	22,171	$	396	$	22,959	$	1,859,147	$	1,882,106	$	396	$	-
Commercial real estate:
	Non-owner occupied		3,230		22,015		60,517		85,762		4,297,955		4,383,717		60,517		-
	Owner occupied		3,877		614		72,849		77,340		1,737,933		1,815,273		72,849		-
Commercial and industrial			2,445		577		52,884		55,906		5,166,669		5,222,575		52,419		465
Construction			14,978		-		14,877		29,855		771,185		801,040		14,877		-
Mortgage[1]			199,324		79,178		910,696		1,189,198		6,349,954		7,539,152		369,043		541,653
Leasing			8,193		1,969		2,542		12,704		1,335,975		1,348,679		2,542		-
Consumer:
	Credit cards		5,211		3,667		7,558		16,436		870,165		886,601		-		7,558
	Home equity lines of credit		736		76		5,941		6,753		76,549		83,302		5,941		-
	Personal		9,917		6,498		22,394		38,809		1,350,046		1,388,855		22,394		-
	Auto		52,486		11,663		17,345		81,494		3,295,200		3,376,694		17,345		-
	Other		409		76		14,621		15,106		112,272		127,378		14,512		109
Total		$	301,198	$	148,504	$	1,182,620	$	1,632,322	$	27,223,050	$	28,855,372	$	632,835	$	549,785

[1]	It is the Corporation’s policy to report delinquent residential mortgage loans insured by Federal Housing Administration (“FHA”) or guaranteed by the U.S. Department of Veterans Affairs (“VA”) as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. The balance of these loans includes $12 million at September 30, 2021 related to the rebooking of loans previously pooled into GNMA securities, in which the Corporation had a buy-back option as further described below. 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 repurchases option are required to be reflected (rebooked) on the financial statements of BPPR with an offsetting liability. These balances include $350 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of September 30, 2021. Furthermore, the Corporation has approximately $53 million in reverse mortgage loans which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets.
[2]	Loans held-in-portfolio are net of $234 million in unearned income and exclude $91 million in loans held-for-sale.
[3]	Includes $6.4 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $3.2 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings and $1.6 billion at the Federal Reserve Bank ("FRB") for discount window borrowings and $1.6 billion serve as collateral for public funds.

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	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[1]			195,602		87,726		1,428,824		1,712,152		5,057,991		6,770,143		414,343		1,014,481
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]	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			1,117		72		3,091		4,280		1,540,513		1,544,793		3,091		-
Construction			21,312		-		7,560		28,872		740,230		769,102		7,560		-
Mortgage			33,422		15,464		14,864		63,750		1,056,787		1,120,537		14,864		-
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		past due	Current		Loans HIP[2] [3]		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			11,340		847		38,103		50,290		5,723,611		5,773,901		37,540		563
Construction			21,312		-		29,057		50,369		875,839		926,208		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
Leasing			9,141		1,427		3,441		14,009		1,183,652		1,197,661		3,441		-
Consumer:
	Credit cards		6,550		4,619		12,801		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. The balance of these loans includes $57 million at December 31, 2020 related to the rebooking of loans previously pooled into GNMA securities, in which the Corporation had a buy-back option as further described below. 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 repurchases option are required to be reflected (rebooked) on the financial statements of BPPR with an offsetting liability. These balances include $329 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of December 31, 2020. Furthermore, the Corporation has approximately $60 million in reverse mortgage loans which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets.
[2]	Loans held-in-portfolio are net of $203 million in unearned income and exclude $99 million in loans held-for-sale.
[3]	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 FHLB as collateral for borrowings and $2.4 billion at the FRB for discount window borrowings.

Financing receivable non accrual status

September 30, 2021
	Puerto Rico				Popular U.S.				Popular, Inc.
(In thousands)	Non-accrual with no allowance		Non-accrual with allowance		Non-accrual with no allowance		Non-accrual with allowance		Non-accrual with no allowance		Non-accrual with allowance
Commercial multi-family	$	-	$	396	$	-	$	-	$	-	$	396
Commercial real estate non-owner occupied		28,883		31,260		-		374		28,883		31,634
Commercial real estate owner occupied		14,358		57,505		-		986		14,358		58,491
Commercial and industrial		15,423		35,569		-		1,427		15,423		36,996
Construction		14,877		-		-		-		14,877		-
Mortgage		179,895		174,660		33		14,455		179,928		189,115
Leasing		166		2,376		-		-		166		2,376
Consumer:
HELOCs		-		-		-		5,941		-		5,941
Personal		7,516		14,130		-		748		7,516		14,878
Auto		767		16,578		-		-		767		16,578
Other		-		14,512		-		-		-		14,512
Total	$	261,885	$	346,986	$	33	$	23,931	$	261,918	$	370,917

December 31, 2020
	Puerto Rico				Popular U.S.				Popular, Inc.
(In thousands)	Non-accrual with no allowance		Non-accrual with allowance		Non-accrual with no allowance		Non-accrual with allowance		Non-accrual with no allowance		Non-accrual with allowance
Commercial multi-family	$	-	$	505	$	-	$	1,894	$	-	$	2,399
Commercial real estate non-owner occupied		35,968		41,169		-		669		35,968		41,838
Commercial real estate owner occupied		14,825		77,176		-		334		14,825		77,510
Commercial and industrial		1,148		33,301		-		3,091		1,148		36,392
Construction		-		21,497		-		7,560		-		29,057
Mortgage		141,737		272,606		517		14,347		142,254		286,953
Leasing		-		3,441		-		-		-		3,441
Consumer:
HELOCs		-		-		-		7,491		-		7,491
Personal		9,265		17,122		-		1,474		9,265		18,596
Auto		-		15,736		-		-		-		15,736
Other		-		14,881		-		20		-		14,901
Total	$	202,943	$	497,434	$	517	$	36,880	$	203,460	$	534,314

Collateral dependent financial assets

		September 30, 2021
(In thousands)			Real Estate		Auto		Equipment		Taxi Medallions		Accounts Receivables		Other		Total
Puerto Rico
Commercial multi-family		$	1,392	$	-	$	-	$	-	$	-	$	-	$	1,392
Commercial real estate:
	Non-owner occupied		250,906		-		-		-		-		-		250,906
	Owner occupied		62,291		-		-		-		-		-		62,291
Commercial and industrial			3,160		-		819		-		11,026		32,303		47,308
Construction			14,877		-		-		-		-		-		14,877
Mortgage			194,399		-		-		-		-		-		194,399
Leases			-		166		-		-		-		-		166
Consumer:
	Personal		7,190		-		-		-		-		-		7,190
	Auto		-		767		-		-		-		-		767
Total Puerto Rico		$	534,215	$	933	$	819	$	-	$	11,026	$	32,303	$	579,296
Popular U.S.
Commercial and industrial			-		-		-		115		-		-		115
Mortgage			746		-		-		-		-		-		746
Total Popular U.S.		$	746	$	-	$	-	$	115	$	-	$	-	$	861
Popular, Inc.
Commercial multi-family		$	1,392	$	-	$	-	$	-	$	-	$	-	$	1,392
Commercial real estate:
	Non-owner occupied		250,906		-		-		-		-		-		250,906
	Owner occupied		62,291		-		-		-		-		-		62,291
Commercial and industrial			3,160		-		819		115		11,026		32,303		47,423
Construction			14,877		-		-		-		-		-		14,877
Mortgage			195,145		-		-		-		-		-		195,145
Leases			-		166		-		-		-		-		166
Consumer:
	Personal		7,190		-		-		-		-		-		7,190
	Auto		-		767		-		-		-		-		767
Total Popular, Inc.		$	534,961	$	933	$	819	$	115	$	11,026	$	32,303	$	580,157

		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