Loans	12 Months Ended
Dec. 31, 2022
Receivables
Loans	Note 8 – Loans For a summary of the accounting policies related to loans, interest recognition and allowance for credit losses refer to Note 2 - Summary of Significant Accounting Policies of this Form 10-K. During the year ended December 31, 2022, the Corporation recorded purchases (including repurchases) of mortgage loans of $ 299 million, which include $ 4 million in Purchased Credit Deteriorated (“PCD”) loans, consumer loans of $ 433 million and commercial loans of $ 142 million; compared to purchases (including repurchases) of mortgage loans of $ 393 million, which include $ 14 million in PCD loans, consumer loans of $ 61 million and commercial loans of $ 139 million during the year ended December 31, 2021. The Corporation performed whole-loan sales involving approximately $ 63 million of residential mortgage loans and $ 138 million of commercial and construction loans during the year ended December 31, 2022 (December 31, 2021 - $ 145 million of residential mortgage loans and $ 131 million of commercial and construction loans). Also, during the year ended December 31, 2022, the Corporation securitized approximately $ 169 million of mortgage loans into Government National Mortgage Association (“GNMA”) mortgage-backed securities and $ 122 million of mortgage loans into Federal National Mortgage Association (“FNMA”) mortgage- backed securities, compared to $ 380 million and $ 330 million, respectively, during the year ended December 31, 2021. Also, the Corporation securitized approximately $ 9 million of mortgage loans into Federal Home Loan Mortgage Corporation (“FHLMC”) mortgage-backed securities during the year ended December 31, 2022. Delinquency status The following tables present 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, 2022 and 2021. December 31, 2022 BPPR 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 $ 425 $ - $ 242 $ 667 $ 280,706 $ 281,373 $ 242 $ - Commercial real estate: Non-owner occupied 941 428 23,662 25,031 2,732,296 2,757,327 23,662 - Owner occupied 729 245 23,990 24,964 1,563,092 1,588,056 23,990 - Commercial and industrial 3,036 941 35,777 39,754 3,756,754 3,796,508 34,277 1,500 Construction - - - - 147,041 147,041 - - Mortgage 222,926 91,881 579,993 894,800 5,215,479 6,110,279 242,391 337,602 Leasing 11,983 3,563 5,941 21,487 1,564,252 1,585,739 5,941 - Consumer: Credit cards 7,106 5,049 11,910 24,065 1,017,766 1,041,831 - 11,910 Home equity lines of credit - - - - 2,954 2,954 - - Personal 13,232 8,752 18,082 40,066 1,545,621 1,585,687 18,082 - Auto 68,868 19,243 40,978 129,089 3,383,441 3,512,530 40,978 - Other 487 87 12,682 13,256 124,324 137,580 12,446 236 Total $ 329,733 $ 130,189 $ 753,257 $ 1,213,179 $ 21,333,726 $ 22,546,905 $ 402,009 $ 351,248 December 31, 2022 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 $ 2,177 $ - $ - $ 2,177 $ 2,038,163 $ 2,040,340 $ - $ - Commercial real estate: Non-owner occupied 484 - 1,454 1,938 1,740,405 1,742,343 1,454 - Owner occupied - - 5,095 5,095 1,485,398 1,490,493 5,095 - Commercial and industrial 12,960 2,205 4,685 19,850 2,022,842 2,042,692 4,319 366 Construction - - - - 610,943 610,943 - - Mortgage 16,131 5,834 20,488 42,453 1,244,739 1,287,192 20,488 - Consumer: Credit cards - - - - 39 39 - - Home equity lines of credit 413 161 4,110 4,684 64,278 68,962 4,110 - Personal 1,808 1,467 1,958 5,233 232,659 237,892 1,958 - Other - - 8 8 9,960 9,968 8 - Total $ 33,973 $ 9,667 $ 37,798 $ 81,438 $ 9,449,426 $ 9,530,864 $ 37,432 $ 366 December 31, 2022 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 $ 2,602 $ - $ 242 $ 2,844 $ 2,318,869 $ 2,321,713 $ 242 $ - Commercial real estate: Non-owner occupied 1,425 428 25,116 26,969 4,472,701 4,499,670 25,116 - Owner occupied 729 245 29,085 30,059 3,048,490 3,078,549 29,085 - Commercial and industrial 15,996 3,146 40,462 59,604 5,779,596 5,839,200 38,596 1,866 Construction - - - - 757,984 757,984 - - Mortgage [1] 239,057 97,715 600,481 937,253 6,460,218 7,397,471 262,879 337,602 Leasing 11,983 3,563 5,941 21,487 1,564,252 1,585,739 5,941 - Consumer: Credit cards 7,106 5,049 11,910 24,065 1,017,805 1,041,870 - 11,910 Home equity lines of credit 413 161 4,110 4,684 67,232 71,916 4,110 - Personal 15,040 10,219 20,040 45,299 1,778,280 1,823,579 20,040 - Auto 68,868 19,243 40,978 129,089 3,383,441 3,512,530 40,978 - Other 487 87 12,690 13,264 134,284 147,548 12,454 236 Total $ 363,706 $ 139,856 $ 791,055 $ 1,294,617 $ 30,783,152 $ 32,077,769 $ 439,441 $ 351,614 [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 $ 14 million at December 31, 2022 related to the rebooking of loans previously pooled into GNMA securities, in which the Corporation had a buy-back option. 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 also include $ 190 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of December 31, 2022. Furthermore, the Corporation has approximately $ 42 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 $ 295 million in unearned income and exclude $ 5 million in loans held-for-sale. [3] Includes $ 7.4 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $ 4.8 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings and $ 2.6 billion at the Federal Reserve Bank ("FRB") for discount window borrowings. December 31, 2021 BPPR 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 $ 314 $ - $ 272 $ 586 $ 154,183 $ 154,769 $ 272 $ - Commercial real estate: Non-owner occupied 2,399 136 20,716 23,251 2,266,672 2,289,923 20,716 - Owner occupied 3,329 278 54,335 57,942 1,365,787 1,423,729 54,335 - Commercial and industrial 3,438 1,727 45,242 50,407 3,478,041 3,528,448 44,724 518 Construction - - 485 485 86,626 87,111 485 - Mortgage 217,830 81,754 805,245 1,104,829 5,147,037 6,251,866 333,887 471,358 Leasing 9,240 2,037 3,102 14,379 1,366,940 1,381,319 3,102 - Consumer: Credit cards 5,768 3,520 8,577 17,865 901,986 919,851 - 8,577 Home equity lines of credit 46 - 23 69 3,502 3,571 - 23 Personal 10,027 6,072 21,235 37,334 1,250,726 1,288,060 21,235 - Auto 59,128 15,019 23,085 97,232 3,314,955 3,412,187 23,085 - Other 432 714 12,621 13,767 110,781 124,548 12,448 173 Total $ 311,951 $ 111,257 $ 994,938 $ 1,418,146 $ 19,447,236 $ 20,865,382 $ 514,289 $ 480,649 December 31, 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 $ 3,826 $ - $ - $ 3,826 $ 1,804,035 $ 1,807,861 $ - $ - Commercial real estate: Non-owner occupied 5,721 683 622 7,026 2,316,441 2,323,467 622 - Owner occupied 1,095 - 1,013 2,108 392,265 394,373 1,013 - Commercial and industrial 9,410 2,680 4,015 16,105 1,794,026 1,810,131 3,897 118 Construction - - - - 629,109 629,109 - - Mortgage 11,711 2,573 21,969 36,253 1,139,077 1,175,330 21,969 - Consumer: Credit cards - - - - 10 10 - - Home equity lines of credit 71 34 5,406 5,511 69,780 75,291 5,406 - Personal 863 574 681 2,118 152,827 154,945 681 - Other - - - - 4,658 4,658 - - Total $ 32,697 $ 6,544 $ 33,706 $ 72,947 $ 8,302,228 $ 8,375,175 $ 33,588 $ 118 December 31, 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 $ 4,140 $ - $ 272 $ 4,412 $ 1,958,218 $ 1,962,630 $ 272 $ - Commercial real estate: Non-owner occupied 8,120 819 21,338 30,277 4,583,113 4,613,390 21,338 - Owner occupied 4,424 278 55,348 60,050 1,758,052 1,818,102 55,348 - Commercial and industrial 12,848 4,407 49,257 66,512 5,272,067 5,338,579 48,621 636 Construction - - 485 485 715,735 716,220 485 - Mortgage [1] 229,541 84,327 827,214 1,141,082 6,286,114 7,427,196 355,856 471,358 Leasing 9,240 2,037 3,102 14,379 1,366,940 1,381,319 3,102 - Consumer: Credit cards 5,768 3,520 8,577 17,865 901,996 919,861 - 8,577 Home equity lines of credit 117 34 5,429 5,580 73,282 78,862 5,406 23 Personal 10,890 6,646 21,916 39,452 1,403,553 1,443,005 21,916 - Auto 59,128 15,019 23,085 97,232 3,314,955 3,412,187 23,085 - Other 432 714 12,621 13,767 115,439 129,206 12,448 173 Total $ 344,648 $ 117,801 $ 1,028,644 $ 1,491,093 $ 27,749,464 $ 29,240,557 $ 547,877 $ 480,767 [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 $ 13 million at December 31, 2021 related to the rebooking of loans previously pooled into GNMA securities, in which the Corporation had a buy-back option. 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 also include $ 304 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of December 31, 2021. Furthermore, the Corporation has approximately $ 50 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 $ 266 million in unearned income and exclude $ 59 million in loans held-for-sale. [3] Includes $ 6.6 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 FHLB as collateral for borrowings and $ 1.7 billion at the FRB for discount window borrowings and $ 1.7 billion serve as collateral for public funds. Recognition of interest income on mortgage loans is generally discontinued when loans are 90 days or more in arrears on payments of principal or interest. The Corporation discontinues the recognition of interest income on residential mortgage loans insured by the FHA or guaranteed by VA when 15 months delinquent as to principal or interest, since the principal repayment on these loans is insured. At December 31, 2022, mortgage loans held-in-portfolio include $ 2.0 billion (December 31, 2021 - $ 1.9 billion) of loans insured by the FHA, or guaranteed by the VA of which $ 0.3 billion (December 31, 2021 - $ 0.5 billion) are 90 days or more past due. These balances include $ 725 million in loans modified under a TDR (December 31, 2021 - $ 716 million), that are presented as accruing loans. The portfolio of guaranteed loans includes $ 190 million of residential mortgage loans in Puerto Rico that are no longer accruing interest as of December 31, 2022 (December 31, 2021 - $ 304 million). The Corporation has approximately $ 42 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest at December 31, 2022 (December 31, 2021 - $ 50 million). Loans with a delinquency status of 90 days past due as of December 31, 2022 include $ 14 million in loans previously pooled into GNMA securities (December 31, 2021 - $ 13 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 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. The components of the net financing leases, including finance leases within the C&I category, receivable at December 31, 2022 and 2021 were as follows: (In thousands) 2022 2021 Total minimum lease payments $ 1,336,173 $ 1,190,545 Estimated residual value of leased property 605,638 518,670 Deferred origination costs, net of fees 24,909 21,474 Less - Unearned financing income 293,091 257,738 Net minimum lease payments 1,673,629 1,472,951 Less - Allowance for credit losses 22,216 18,581 Net minimum lease payments, net of allowance for credit losses $ 1,651,413 $ 1,454,370 At December 31, 2022, future minimum lease payments are expected to be received as follows: (In thousands) 2023 $ 111,779 2024 132,371 2025 177,836 2026 303,773 2027 402,035 2028 and thereafter 208,379 Total $ 1,336,173 The following tables present the amortized cost basis of non-accrual loans as of December 31, 2022 and 2021 by class of loans: December 31, 2022 BPPR 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 $ - $ 242 $ - $ - $ - $ 242 Commercial real estate non-owner occupied 15,639 8,023 1,454 - 17,093 8,023 Commercial real estate owner occupied 9,070 14,920 5,095 - 14,165 14,920 Commercial and industrial 20,227 14,050 - 4,319 20,227 18,369 Mortgage 119,027 123,364 71 20,417 119,098 143,781 Leasing 458 5,483 - - 458 5,483 Consumer: HELOCs - - - 4,110 - 4,110 Personal 4,623 13,459 - 1,958 4,623 15,417 Auto 1,177 39,801 - - 1,177 39,801 Other 263 12,183 - 8 263 12,191 Total $ 170,484 $ 231,525 $ 6,620 $ 30,812 $ 177,104 $ 262,337 December 31, 2021 BPPR 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 $ - $ 272 $ - $ - $ - $ 272 Commercial real estate non-owner occupied 15,819 4,897 - 622 15,819 5,519 Commercial real estate owner occupied 13,491 40,844 - 1,013 13,491 41,857 Commercial and industrial 30,177 14,547 - 3,897 30,177 18,444 Construction - 485 - - - 485 Mortgage 169,827 164,060 29 21,940 169,856 186,000 Leasing 276 2,826 - - 276 2,826 Consumer: HELOCs - - - 5,406 - 5,406 Personal 6,279 14,956 81 600 6,360 15,556 Auto 879 22,206 - - 879 22,206 Other - 12,448 - - - 12,448 Total $ 236,748 $ 277,541 $ 110 $ 33,478 $ 236,858 $ 311,019 Loans in non-accrual status with no allowance at December 31, 2022 include $ 177 million in collateral dependent loans (December 31, 2021 - $ 237 million). The Corporation recognized $ 4 million in interest income on non-accrual loans during the year ended December 31, 2022 (December 31, 2021 - $ 3 million). The Corporation has designated loans classified as collateral dependent for which the ACL is measured based on the fair value of the collateral less cost to sell, when foreclosure is probable or when the repayment is expected to be provided substantially by the sale or operation of the collateral and the borrower is experiencing financial difficulty. The fair value of the collateral is based on appraisals, which may be adjusted due to their age, and the type, location, and condition of the property or area or general market conditions to reflect the expected change in value between the effective date of the appraisal and the measurement date. Appraisals are updated every one to two years depending on the type of loan and the total exposure of the borrower. The following tables present the amortized cost basis of collateral-dependent loans, for which the ACL was measured based on the fair value of the collateral less cost to sell, by class of loans and type of collateral as of December 31, 2022 and 2021: December 31, 2022 (In thousands) Real Estate Auto Equipment Accounts Receivables Other Total BPPR Commercial multi-family $ 1,329 $ - $ - $ - $ - $ 1,329 Commercial real estate: Non-owner occupied 202,980 - - - - 202,980 Owner occupied 18,234 - - - - 18,234 Commercial and industrial 1,345 - 32 9,853 20,985 32,215 Mortgage 128,069 - - - - 128,069 Leasing - 1,020 - - - 1,020 Consumer: Personal 5,381 - - - - 5,381 Auto - 9,556 - - - 9,556 Other - - - - 263 263 Total BPPR $ 357,338 $ 10,576 $ 32 $ 9,853 $ 21,248 $ 399,047 Popular U.S. Commercial real estate: Non-owner occupied $ 1,454 $ - $ - $ - $ - $ 1,454 Owner occupied 5,095 - - - - 5,095 Commercial and industrial - - 136 - - 136 Mortgage 1,104 - - - - 1,104 Total Popular U.S. $ 7,653 $ - $ 136 $ - $ - $ 7,789 Popular, Inc. Commercial multi-family $ 1,329 $ - $ - $ - $ - $ 1,329 Commercial real estate: Non-owner occupied 204,434 - - - - 204,434 Owner occupied 23,329 - - - - 23,329 Commercial and industrial 1,345 - 168 9,853 20,985 32,351 Mortgage 129,173 - - - - 129,173 Leasing - 1,020 - - - 1,020 Consumer: Personal 5,381 - - - - 5,381 Auto - 9,556 - - - 9,556 Other - - - - 263 263 Total Popular, Inc. $ 364,991 $ 10,576 $ 168 $ 9,853 $ 21,248 $ 406,836 December 31, 2021 (In thousands) Real Estate Auto Equipment Accounts Receivables Other Total BPPR Commercial multi-family $ 1,374 $ - $ - $ - $ - $ 1,374 Commercial real estate: Non-owner occupied 211,026 - - - - 211,026 Owner occupied 47,268 - - - - 47,268 Commercial and industrial 2,650 - 680 10,675 27,893 41,898 Mortgage 179,774 - - - - 179,774 Leasing - 574 - - - 574 Consumer: Personal 6,165 - - - - 6,165 Auto - 8,983 - - - 8,983 Total BPPR $ 448,257 $ 9,557 $ 680 $ 10,675 $ 27,893 $ 497,062 Popular U.S. Mortgage $ 926 $ - $ - $ - $ - $ 926 Total Popular U.S. $ 926 $ - $ - $ - $ - $ 926 Popular, Inc. Commercial multi-family $ 1,374 $ - $ - $ - $ - $ 1,374 Commercial real estate: Non-owner occupied 211,026 - - - - 211,026 Owner occupied 47,268 - - - - 47,268 Commercial and industrial 2,650 - 680 10,675 27,893 41,898 Mortgage 180,700 - - - - 180,700 Leasing - 574 - - - 574 Consumer: Personal 6,165 - - - - 6,165 Auto - 8,983 - - - 8,983 Total Popular, Inc. $ 449,183 $ 9,557 $ 680 $ 10,675 $ 27,893 $ 497,988 Purchased Credit Deteriorated (PCD) Loans 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, 2022 December 31, 2021 Purchase price of loans at acquisition $ 3,144 $ 10,995 Allowance for credit losses at acquisition 915 3,142 Non-credit discount / (premium) at acquisition 140 446 Par value of acquired loans at acquisition $ 4,199 $ 14,583

For

summary

of the

accounting policies

related to

loans, interest

recognition

and

allowance for

credit

losses

refer to

Note

Summary of Significant Accounting Policies of this Form

10-K.

During the year ended December 31, 2022, the Corporation recorded purchases (including repurchases) of mortgage loans

of $

299

million, which

include $

million in

Purchased Credit

Deteriorated (“PCD”)

loans, consumer

loans of

433

million and

commercial

loans of $

142

million; compared to purchases (including repurchases)

of mortgage loans of $

393

million, which include $

million in

PCD loans, consumer loans of $

million and commercial loans of $

139

million during the year ended December 31, 2021.

The Corporation performed

whole-loan sales involving

approximately $

million of

residential mortgage loans

and $

138

million of

commercial and

construction loans

during the

year ended

December 31,

2022 (December

31, 2021

- $

145

million of

residential

mortgage

loans

and

131

million

commercial

and

construction loans).

Also,

during

the

year

ended December

31,

2022,

the

Corporation securitized

approximately $

169

million of

mortgage loans

into Government

National Mortgage

Association (“GNMA”)

mortgage-backed securities

and $

122

million of

mortgage loans

into Federal

National Mortgage

Association (“FNMA”)

mortgage-

backed securities, compared

to $

380

million and $

330

million, respectively,

during the year

ended December 31,

2021. Also, the

Corporation

securitized

approximately

million

mortgage

loans

into

Federal

Home

Loan

Mortgage

Corporation

(“FHLMC”)

mortgage-backed securities during the year ended December

31, 2022.

Delinquency status

The following tables present 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, 2022 and 2021.

December 31, 2022

BPPR

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

425

242

667

280,706

281,373

242

Commercial real estate:

Non-owner occupied

941

428

23,662

25,031

2,732,296

2,757,327

23,662

Owner occupied

729

245

23,990

24,964

1,563,092

1,588,056

23,990

Commercial and industrial

3,036

941

35,777

39,754

3,756,754

3,796,508

34,277

1,500

Construction

147,041

Mortgage

222,926

91,881

579,993

894,800

5,215,479

6,110,279

242,391

337,602

Leasing

11,983

3,563

5,941

21,487

1,564,252

1,585,739

5,941

Consumer:

Credit cards

7,106

5,049

11,910

24,065

1,017,766

1,041,831

11,910

Home equity lines of credit

2,954

Personal

13,232

8,752

18,082

40,066

1,545,621

1,585,687

18,082

Auto

68,868

19,243

40,978

129,089

3,383,441

3,512,530

40,978

Other

487

12,682

13,256

124,324

137,580

12,446

236

Total

329,733

130,189

753,257

1,213,179

21,333,726

22,546,905

402,009

351,248

December 31, 2022

Popular U.S.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

2,177

2,038,163

2,040,340

Commercial real estate:

Non-owner occupied

484

1,454

1,938

1,740,405

1,742,343

1,454

Owner occupied

5,095

1,485,398

1,490,493

5,095

Commercial and industrial

12,960

2,205

4,685

19,850

2,022,842

2,042,692

4,319

366

Construction

610,943

Mortgage

16,131

5,834

20,488

42,453

1,244,739

1,287,192

20,488

Consumer:

Credit cards

Home equity lines of

credit

413

161

4,110

4,684

64,278

68,962

4,110

Personal

1,808

1,467

1,958

5,233

232,659

237,892

1,958

Other

9,960

9,968

Total

33,973

9,667

37,798

81,438

9,449,426

9,530,864

37,432

366

December 31, 2022

Popular, Inc.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

[2] [3]

loans

Commercial multi-family

2,602

242

2,844

2,318,869

2,321,713

242

Commercial real estate:

Non-owner occupied

1,425

428

25,116

26,969

4,472,701

4,499,670

25,116

Owner occupied

729

245

29,085

30,059

3,048,490

3,078,549

29,085

Commercial and industrial

15,996

3,146

40,462

59,604

5,779,596

5,839,200

38,596

1,866

Construction

757,984

Mortgage

[1]

239,057

97,715

600,481

937,253

6,460,218

7,397,471

262,879

337,602

Leasing

11,983

3,563

5,941

21,487

1,564,252

1,585,739

5,941

Consumer:

Credit cards

7,106

5,049

11,910

24,065

1,017,805

1,041,870

11,910

Home equity lines of credit

413

161

4,110

4,684

67,232

71,916

4,110

Personal

15,040

10,219

20,040

45,299

1,778,280

1,823,579

20,040

Auto

68,868

19,243

40,978

129,089

3,383,441

3,512,530

40,978

Other

487

12,690

13,264

134,284

147,548

12,454

236

Total

363,706

139,856

791,055

1,294,617

30,783,152

32,077,769

439,441

351,614

[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 $

million at December 31, 2022 related to the rebooking

of loans previously pooled

into GNMA securities, in which the Corporation had a

buy-back option. 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 also include $

190

million of

residential mortgage loans insured by FHA or guaranteed by

the VA that are no longer accruing

interest as of December 31, 2022. Furthermore,

the Corporation has approximately $

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 $

295

million in unearned income and exclude $

million in loans held-for-sale.

[3]

Includes $

7.4

billion pledged to secure credit facilities and public funds

that the secured parties are not permitted to sell or

repledge the collateral,

of which $

4.8

billion were pledged at the Federal Home Loan Bank

("FHLB") as collateral for borrowings and $

2.6

billion at the Federal Reserve

Bank ("FRB") for discount window borrowings.

December 31, 2021

BPPR

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

314

272

586

154,183

154,769

272

Commercial real estate:

Non-owner occupied

2,399

136

20,716

23,251

2,266,672

2,289,923

20,716

Owner occupied

3,329

278

54,335

57,942

1,365,787

1,423,729

54,335

Commercial and industrial

3,438

1,727

45,242

50,407

3,478,041

3,528,448

44,724

518

Construction

485

86,626

87,111

485

Mortgage

217,830

81,754

805,245

1,104,829

5,147,037

6,251,866

333,887

471,358

Leasing

9,240

2,037

3,102

14,379

1,366,940

1,381,319

3,102

Consumer:

Credit cards

5,768

3,520

8,577

17,865

901,986

919,851

8,577

Home equity lines of credit

3,502

3,571

Personal

10,027

6,072

21,235

37,334

1,250,726

1,288,060

21,235

Auto

59,128

15,019

23,085

97,232

3,314,955

3,412,187

23,085

Other

432

714

12,621

13,767

110,781

124,548

12,448

173

Total

311,951

111,257

994,938

1,418,146

19,447,236

20,865,382

514,289

480,649

December 31, 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

or more

past due

Current

Loans HIP

loans

Commercial multi-family

3,826

1,804,035

1,807,861

Commercial real estate:

Non-owner occupied

5,721

683

622

7,026

2,316,441

2,323,467

622

Owner occupied

1,095

1,013

2,108

392,265

394,373

1,013

Commercial and industrial

9,410

2,680

4,015

16,105

1,794,026

1,810,131

3,897

118

Construction

629,109

Mortgage

11,711

2,573

21,969

36,253

1,139,077

1,175,330

21,969

Consumer:

Credit cards

Home equity lines of credit

5,406

5,511

69,780

75,291

5,406

Personal

863

574

681

2,118

152,827

154,945

681

Other

4,658

Total

32,697

6,544

33,706

72,947

8,302,228

8,375,175

33,588

118

December 31, 2021

Popular, Inc.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

[2]

[3]

loans

Commercial multi-family

4,140

272

4,412

1,958,218

1,962,630

272

Commercial real estate:

Non-owner occupied

8,120

819

21,338

30,277

4,583,113

4,613,390

21,338

Owner occupied

4,424

278

55,348

60,050

1,758,052

1,818,102

55,348

Commercial and industrial

12,848

4,407

49,257

66,512

5,272,067

5,338,579

48,621

636

Construction

485

715,735

716,220

485

Mortgage

[1]

229,541

84,327

827,214

1,141,082

6,286,114

7,427,196

355,856

471,358

Leasing

9,240

2,037

3,102

14,379

1,366,940

1,381,319

3,102

Consumer:

Credit cards

5,768

3,520

8,577

17,865

901,996

919,861

8,577

Home equity lines of credit

117

5,429

5,580

73,282

78,862

5,406

Personal

10,890

6,646

21,916

39,452

1,403,553

1,443,005

21,916

Auto

59,128

15,019

23,085

97,232

3,314,955

3,412,187

23,085

Other

432

714

12,621

13,767

115,439

129,206

12,448

173

Total

344,648

117,801

1,028,644

1,491,093

27,749,464

29,240,557

547,877

480,767

[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 $

million at

December 31, 2021 related to the rebooking of loans

previously pooled into GNMA securities, in which the Corporation

had a buy-back option.

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 also include $

304

million of residential mortgage loans insured by

FHA or guaranteed by the VA

that are

no longer accruing interest as of December 31, 2021.

Furthermore, the Corporation has approximately $

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 $

266

million in unearned income and exclude $

million in loans held-for-sale.

[3]

Includes $

6.6

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 FHLB as collateral for borrowings

and $

1.7

billion at the FRB for discount window borrowings

and $

1.7

billion serve as collateral for public funds.

Recognition of interest income on mortgage loans is generally discontinued when loans are 90 days or more in arrears on payments

of principal or interest. The Corporation discontinues the recognition of interest income on residential mortgage loans insured by the

FHA or

guaranteed by

when 15

months delinquent

as to

principal or

interest, since

the principal

repayment on

these loans

insured.

At December

31, 2022, mortgage

loans held-in-portfolio include

2.0

billion (December 31,

2021 -

1.9

billion) of loans

insured by

the FHA,

or guaranteed

by the

of which

0.3

billion (December

31, 2021

- $

0.5

billion) are

90 days

or more

past due.

These

balances include

725

million in

loans modified

under a

TDR (December

31, 2021

- $

716

million), that

are presented

as accruing

loans.

The

portfolio

guaranteed

loans

includes

190

million

residential

mortgage

loans

Puerto

Rico

that

are

longer

accruing interest

as of

December 31, 2022

(December 31, 2021

- $

304

million). The

Corporation has approximately

million in

reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest at December 31,

2022 (December 31, 2021 - $

million).

Loans with

a delinquency status

of 90

days past due

as of

December 31, 2022

include $

million in loans

previously pooled into

GNMA securities (December 31, 2021 -

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

reflected on

the

financial statements

of BPPR

with

offsetting

liability.

Loans

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.

(In thousands)

2022

2021

Total minimum lease

payments

1,336,173

1,190,545

Estimated residual value of leased property

605,638

518,670

Deferred origination costs, net of fees

24,909

21,474

Less - Unearned financing income

293,091

257,738

Net minimum lease payments

1,673,629

1,472,951

Less - Allowance for credit losses

22,216

18,581

Net minimum lease payments, net of allowance for credit losses

1,651,413

1,454,370

December 31, 2022

BPPR

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

242

Commercial real estate non-owner occupied

15,639

8,023

1,454

17,093

8,023

Commercial real estate owner occupied

9,070

14,920

5,095

14,165

14,920

Commercial and industrial

20,227

14,050

4,319

20,227

18,369

Mortgage

119,027

123,364

20,417

119,098

143,781

Leasing

458

5,483

458

5,483

Consumer:

HELOCs

4,110

Personal

4,623

13,459

1,958

4,623

15,417

Auto

1,177

39,801

1,177

39,801

Other

263

12,183

263

12,191

Total

170,484

231,525

6,620

30,812

177,104

262,337

December 31, 2021

BPPR

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

272

Commercial real estate non-owner occupied

15,819

4,897

622

15,819

5,519

Commercial real estate owner occupied

13,491

40,844

1,013

13,491

41,857

Commercial and industrial

30,177

14,547

3,897

30,177

18,444

Construction

485

Mortgage

169,827

164,060

21,940

169,856

186,000

Leasing

276

2,826

276

2,826

Consumer:

HELOCs

5,406

Personal

6,279

14,956

600

6,360

15,556

Auto

879

22,206

879

22,206

Other

12,448

Total

236,748

277,541

110

33,478

236,858

311,019

Loans in non-accrual status with no

allowance at December 31, 2022 include

177

million in collateral dependent loans (December

31,

2021

237

million).

The

Corporation recognized

million

interest

income

non-accrual loans

during

the

year

ended

December 31, 2022 (December 31, 2021 - $

million).

The Corporation has

designated loans classified as

collateral dependent for

which the ACL

is measured based

on the fair

value of

the collateral less

cost to sell,

when foreclosure is

probable or when

the repayment is

expected to be

provided substantially by the

sale or

operation of

the collateral

and the

borrower is

experiencing financial

difficulty.

The fair

value of

the collateral

is based

appraisals, which may be

adjusted due to their

age, and the

type, location, and condition

of the property

or area or general

market

conditions to reflect the expected change in value between the effective date

of the appraisal and the measurement date. Appraisals

are updated every one to two years depending on

the type of loan and the total exposure of

the borrower.

The following tables present the amortized cost basis

of collateral-dependent loans, for which the ACL was measured

based on the

fair value of the collateral less cost to sell, by class

of loans and type of collateral as of December

31, 2022 and 2021:

December 31, 2022

(In thousands)

Real Estate

Auto

Equipment

Accounts

Receivables

Other

Total

BPPR

Commercial multi-family

1,329

Commercial real estate:

Non-owner occupied

202,980

Owner occupied

18,234

Commercial and industrial

1,345

9,853

20,985

32,215

Mortgage

128,069

Leasing

1,020

Consumer:

Personal

5,381

Auto

9,556

Other

263

Total BPPR

357,338

10,576

9,853

21,248

399,047

Popular U.S.

Commercial real estate:

Non-owner occupied

1,454

Owner occupied

5,095

Commercial and industrial

136

Mortgage

1,104

Total Popular U.S.

7,653

136

7,789

Popular, Inc.

Commercial multi-family

1,329

Commercial real estate:

Non-owner occupied

204,434

Owner occupied

23,329

Commercial and industrial

1,345

168

9,853

20,985

32,351

Mortgage

129,173

Leasing

1,020

Consumer:

Personal

5,381

Auto

9,556

Other

263

Total Popular,

Inc.

364,991

10,576

168

9,853

21,248

406,836

December 31, 2021

(In thousands)

Real Estate

Auto

Equipment

Accounts

Receivables

Other

Total

BPPR

Commercial multi-family

1,374

Commercial real estate:

Non-owner occupied

211,026

Owner occupied

47,268

Commercial and industrial

2,650

680

10,675

27,893

41,898

Mortgage

179,774

Leasing

574

Consumer:

Personal

6,165

Auto

8,983

Total BPPR

448,257

9,557

680

10,675

27,893

497,062

Popular U.S.

Mortgage

926

Total Popular U.S.

926

Popular, Inc.

Commercial multi-family

1,374

Commercial real estate:

Non-owner occupied

211,026

Owner occupied

47,268

Commercial and industrial

2,650

680

10,675

27,893

41,898

Mortgage

180,700

Leasing

574

Consumer:

Personal

6,165

Auto

8,983

Total Popular,

Inc.

449,183

9,557

680

10,675

27,893

497,988