Loans	3 Months Ended
Mar. 31, 2023
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 the 2022 Form 10-K. During the quarter ended March 31, 2023, the Corporation recorded purchases (including repurchases) of mortgage loans of $ 76 million, consumer loans of $ 27 million and commercial loans of $ 45 million; compared to purchases (including repurchases) of mortgage loans of $ 82 million, which include $ 3 million in PCD loans, and consumer loans of $ 91 million during the quarter ended March 31, 2022. The Corporation performed whole-loan sales involving approximately $ 10 million of residential mortgage loans and $ 2 million of commercial and construction loans during the quarter ended March 31, 2023 (March 31, 2022 - $ 19 million of residential mortgage loans and $ 1 million of commercial loans). Also, during the quarter ended March 31, 2023, the Corporation securitized approximately $ 1 million of mortgage loans into Government National Mortgage Association (“GNMA”) mortgage-backed securities and $ 10 million of mortgage loans into Federal National Mortgage Association (“FNMA”) mortgage-backed securities, compared to $ 78 million and $ 58 million, respectively, during the quarter ended March 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 March 31, 2023 and December 31, 2022. March 31, 2023 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 $ 650 $ - $ 185 $ 835 $ 291,971 $ 292,806 $ 185 $ - Commercial real estate: Non-owner occupied 2,739 1,584 22,856 27,179 2,858,304 2,885,483 22,856 - Owner occupied 21,496 - 37,779 59,275 1,438,228 1,497,503 37,779 - Commercial and industrial 17,934 793 31,847 50,574 3,883,859 3,934,433 30,132 1,715 Construction 8,081 - - 8,081 147,268 155,349 - - Mortgage 183,187 81,729 515,752 780,668 5,336,016 6,116,684 224,075 291,677 Leasing 12,301 2,605 6,103 21,009 1,593,335 1,614,344 6,103 - Consumer: Credit cards 7,162 5,823 12,061 25,046 1,021,129 1,046,175 - 12,061 Home equity lines of credit - - - - 2,865 2,865 - - Personal 14,131 8,990 17,427 40,548 1,572,370 1,612,918 17,412 15 Auto 60,324 12,684 39,516 112,524 3,405,416 3,517,940 39,516 - Other 1,264 49 1,091 2,404 127,608 130,012 921 170 Total $ 329,269 $ 114,257 $ 684,617 $ 1,128,143 $ 21,678,369 $ 22,806,512 $ 378,979 $ 305,638 March 31, 2023 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 $ - $ - $ 421 $ 421 $ 2,043,130 $ 2,043,551 $ 421 $ - Commercial real estate: Non-owner occupied 16,033 - 207 16,240 1,748,952 1,765,192 207 - Owner occupied 18,042 - 5,095 23,137 1,497,947 1,521,084 5,095 - Commercial and industrial 13,779 3 5,570 19,352 2,045,857 2,065,209 5,325 245 Construction 7,165 - - 7,165 536,482 543,647 - - Mortgage 22,041 1,499 14,719 38,259 1,250,964 1,289,223 14,719 - Consumer: Credit cards - - - - 21 21 - - Home equity lines of credit 496 70 4,618 5,184 61,838 67,022 4,618 - Personal 1,900 1,259 2,505 5,664 222,487 228,151 2,505 - Other 2 - 514 516 8,245 8,761 514 - Total $ 79,458 $ 2,831 $ 33,649 $ 115,938 $ 9,415,923 $ 9,531,861 $ 33,404 $ 245 March 31, 2023 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 $ 650 $ - $ 606 $ 1,256 $ 2,335,101 $ 2,336,357 $ 606 $ - Commercial real estate: Non-owner occupied 18,772 1,584 23,063 43,419 4,607,256 4,650,675 23,063 - Owner occupied 39,538 - 42,874 82,412 2,936,175 3,018,587 42,874 - Commercial and industrial 31,713 796 37,417 69,926 5,929,716 5,999,642 35,457 1,960 Construction 15,246 - - 15,246 683,750 698,996 - - Mortgage [1] 205,228 83,228 530,471 818,927 6,586,980 7,405,907 238,794 291,677 Leasing 12,301 2,605 6,103 21,009 1,593,335 1,614,344 6,103 - Consumer: Credit cards 7,162 5,823 12,061 25,046 1,021,150 1,046,196 - 12,061 Home equity lines of credit 496 70 4,618 5,184 64,703 69,887 4,618 - Personal 16,031 10,249 19,932 46,212 1,794,857 1,841,069 19,917 15 Auto 60,324 12,684 39,516 112,524 3,405,416 3,517,940 39,516 - Other 1,266 49 1,605 2,920 135,853 138,773 1,435 170 Total $ 408,727 $ 117,088 $ 718,266 $ 1,244,081 $ 31,094,292 $ 32,338,373 $ 412,383 $ 305,883 [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. These balances include $ 167 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of March 31, 2023. Furthermore, the Corporation has approximately $ 40 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 $ 307 million in unearned income and exclude $ 11 million in loans held-for-sale. [3] Includes $ 7.7 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $ 5.1 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. The Corporation had an available borrowing facility with the FHLB and the discount window of Federal Reserve Bank of New York of $ 2.8 billion and $ 1.5 billion, respectively, as of March 31, 2023. 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 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 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. The Corporation had an available borrowing facility with the FHLB and the discount window of Federal Reserve Bank of New York of $ 2.1 billion and $ 1.4 billion, respectively, as of December 31, 2022. 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 March 31, 2023, mortgage loans held-in-portfolio include $ 2.0 billion (December 31, 2022 - $ 2 .0 billion) of loans insured by the FHA, or guaranteed by the VA of which $ 0.3 billion (December 31, 2022 - $ 0.3 billion) are 90 days or more past due. The portfolio of guaranteed loans includes $ 167 million of residential mortgage loans in Puerto Rico that are no longer accruing interest as of March 31, 2023 (December 31, 2022 - $ 190 million). The Corporation has approximately $ 40 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest at March 31, 2023 (December 31, 2022 - $ 42 million). Loans with a delinquency status of 90 days past due as of March 31, 2023 include $ 7 million in loans previously pooled into GNMA securities (December 31, 2022 - $ 14 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 following tables present the amortized cost basis of non-accrual loans as of March 31, 2023 and December 31, 2022 by class of loans: March 31, 2023 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 $ - $ 185 $ - $ 421 $ - $ 606 Commercial real estate non-owner occupied 19,324 3,532 - 207 19,324 3,739 Commercial real estate owner occupied 24,513 13,266 5,095 - 29,608 13,266 Commercial and industrial 17,551 12,581 - 5,325 17,551 17,906 Mortgage 103,316 120,759 227 14,492 103,543 135,251 Leasing 194 5,909 - - 194 5,909 Consumer: HELOCs - - - 4,618 - 4,618 Personal 5,122 12,290 - 2,505 5,122 14,795 Auto 1,117 38,399 - - 1,117 38,399 Other 263 658 - 514 263 1,172 Total $ 171,400 $ 207,579 $ 5,322 $ 28,082 $ 176,722 $ 235,661 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 Loans in non-accrual status with no allowance at March 31, 2023 include $ 176 million in collateral dependent loans (December 31, 2022 - $ 177 million). The Corporation recognized $ 4 million in interest income on non-accrual loans during the quarter ended March 31, 2023 (March 31, 2022 - $ 4 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 March 31, 2023 and December 31, 2022: March 31, 2023 (In thousands) Real Estate Auto Equipment Accounts Receivables Other Total BPPR Commercial multi-family $ 1,316 $ - $ - $ - $ - $ 1,316 Commercial real estate: Non-owner occupied 180,090 - - - - 180,090 Owner occupied 32,471 - - - - 32,471 Commercial and industrial 1,070 - 22 8,397 18,995 28,484 Mortgage 106,168 - - - - 106,168 Leasing - 844 - - - 844 Consumer: Personal 5,433 - - - - 5,433 Auto - 10,074 - - - 10,074 Other - - - - 263 263 Total BPPR $ 326,548 $ 10,918 $ 22 $ 8,397 $ 19,258 $ 365,143 Popular U.S. Commercial real estate: Owner occupied $ 5,095 $ - $ - $ - $ - $ 5,095 Commercial and industrial - - 74 - 2,000 2,074 Mortgage 775 - - - - 775 Total Popular U.S. $ 5,870 $ - $ 74 $ - $ 2,000 $ 7,944 Popular, Inc. Commercial multi-family $ 1,316 $ - $ - $ - $ - $ 1,316 Commercial real estate: Non-owner occupied 180,090 - - - - 180,090 Owner occupied 37,566 - - - - 37,566 Commercial and industrial 1,070 - 96 8,397 20,995 30,558 Mortgage 106,943 - - - - 106,943 Leasing - 844 - - - 844 Consumer: Personal 5,433 - - - - 5,433 Auto - 10,074 - - - 10,074 Other - - - - 263 263 Total Popular, Inc. $ 332,418 $ 10,918 $ 96 $ 8,397 $ 21,258 $ 373,087 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 Purchased Credit Deteriorated (PCD) Loans The Corporation has purchased loans during the quarter 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) March 31, 2023 March 31, 2022 Purchase price of loans at acquisition $ 255 $ 2,002 Allowance for credit losses at acquisition 68 612 Non-credit discount / (premium) at acquisition 9 99 Par value of acquired loans at acquisition $ 332 $ 2,713

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 the 2022

Form 10-K.

During the

quarter ended

March 31,

2023, the

Corporation recorded purchases

(including repurchases)

of mortgage

loans of

million,

consumer

loans

million

and

commercial

loans

million;

compared

purchases

(including

repurchases)

mortgage loans of

million, which include

million in PCD

loans, and consumer

loans of $

million during the

quarter ended

March 31, 2022.

The

Corporation performed

whole-loan

sales

involving

approximately $

million

residential mortgage

loans

and

million

commercial and construction loans

during the quarter ended

March 31, 2023 (March

31, 2022 -

million of residential mortgage

loans

and

million

commercial

loans).

Also,

during

the

quarter

ended

March

31,

2023,

the

Corporation

securitized

approximately $

million of mortgage

loans into Government

National Mortgage Association (“GNMA”)

mortgage-backed securities

and $

million of mortgage

loans into Federal

National Mortgage Association

(“FNMA”) mortgage-backed securities, compared

million and $

million, respectively, during the quarter ended March 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

March 31, 2023 and December 31, 2022.

March 31, 2023

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

650

185

835

291,971

292,806

185

Commercial real estate:

Non-owner occupied

2,739

1,584

22,856

27,179

2,858,304

2,885,483

22,856

Owner occupied

21,496

37,779

59,275

1,438,228

1,497,503

37,779

Commercial and industrial

17,934

793

31,847

50,574

3,883,859

3,934,433

30,132

1,715

Construction

8,081

147,268

155,349

Mortgage

183,187

81,729

515,752

780,668

5,336,016

6,116,684

224,075

291,677

Leasing

12,301

2,605

6,103

21,009

1,593,335

1,614,344

6,103

Consumer:

Credit cards

7,162

5,823

12,061

25,046

1,021,129

1,046,175

12,061

Home equity lines of credit

2,865

Personal

14,131

8,990

17,427

40,548

1,572,370

1,612,918

17,412

Auto

60,324

12,684

39,516

112,524

3,405,416

3,517,940

39,516

Other

1,264

1,091

2,404

127,608

130,012

921

170

Total

329,269

114,257

684,617

1,128,143

21,678,369

22,806,512

378,979

305,638

March 31, 2023

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

421

2,043,130

2,043,551

421

Commercial real estate:

Non-owner occupied

16,033

207

16,240

1,748,952

1,765,192

207

Owner occupied

18,042

5,095

23,137

1,497,947

1,521,084

5,095

Commercial and industrial

13,779

5,570

19,352

2,045,857

2,065,209

5,325

245

Construction

7,165

536,482

543,647

Mortgage

22,041

1,499

14,719

38,259

1,250,964

1,289,223

14,719

Consumer:

Credit cards

Home equity lines of

credit

496

4,618

5,184

61,838

67,022

4,618

Personal

1,900

1,259

2,505

5,664

222,487

228,151

2,505

Other

514

516

8,245

8,761

514

Total

79,458

2,831

33,649

115,938

9,415,923

9,531,861

33,404

245

March 31, 2023

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

650

606

1,256

2,335,101

2,336,357

606

Commercial real estate:

Non-owner occupied

18,772

1,584

23,063

43,419

4,607,256

4,650,675

23,063

Owner occupied

39,538

42,874

82,412

2,936,175

3,018,587

42,874

Commercial and industrial

31,713

796

37,417

69,926

5,929,716

5,999,642

35,457

1,960

Construction

15,246

683,750

698,996

Mortgage

[1]

205,228

83,228

530,471

818,927

6,586,980

7,405,907

238,794

291,677

Leasing

12,301

2,605

6,103

21,009

1,593,335

1,614,344

6,103

Consumer:

Credit cards

7,162

5,823

12,061

25,046

1,021,150

1,046,196

12,061

Home equity lines of credit

496

4,618

5,184

64,703

69,887

4,618

Personal

16,031

10,249

19,932

46,212

1,794,857

1,841,069

19,917

Auto

60,324

12,684

39,516

112,524

3,405,416

3,517,940

39,516

Other

1,266

1,605

2,920

135,853

138,773

1,435

170

Total

408,727

117,088

718,266

1,244,081

31,094,292

32,338,373

412,383

305,883

[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.

These balances include $

167

million of residential mortgage loans insured by

FHA or guaranteed by the VA that

are no

longer accruing interest as of March 31, 2023. 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 $

307

million in unearned income and exclude $

million in loans held-for-sale.

[3]

Includes $

7.7

billion pledged to secure credit facilities and public funds

that the secured parties are not permitted to sell or

repledge the collateral,

of which $

5.1

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. The Corporation

had an available borrowing facility with the FHLB and

the discount window of

Federal Reserve Bank of New York

of $

2.8

billion and $

1.5

billion, respectively, as of

March 31, 2023.

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 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 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. The Corporation

had an available borrowing facility with the FHLB and

the discount window of

Federal Reserve Bank of New York

of $

2.1

billion and $

1.4

billion, respectively, as of December

31, 2022.

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 March

31, 2023, mortgage

loans held-in-portfolio include

2.0

billion (December 31,

2022 -

.0 billion)

of loans

insured by the

FHA, or guaranteed by the VA of which $

0.3

billion (December 31, 2022 - $

0.3

billion) are 90 days or more past due. The portfolio of

guaranteed loans includes $

167

million of residential mortgage loans in Puerto Rico that are no longer accruing interest as of March

31, 2023

(December 31, 2022

- $

190

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

March 31,

2023 (December

31, 2022

- $

million).

Loans with a delinquency status of

90 days past due as of

March 31, 2023 include $

million in loans previously pooled into GNMA

securities

(December

31,

2022

million).

Under

the

GNMA

program,

issuers

such

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.

March 31, 2023

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

185

421

606

Commercial real estate non-owner occupied

19,324

3,532

207

19,324

3,739

Commercial real estate owner occupied

24,513

13,266

5,095

29,608

13,266

Commercial and industrial

17,551

12,581

5,325

17,551

17,906

Mortgage

103,316

120,759

227

14,492

103,543

135,251

Leasing

194

5,909

194

5,909

Consumer:

HELOCs

4,618

Personal

5,122

12,290

2,505

5,122

14,795

Auto

1,117

38,399

1,117

38,399

Other

263

658

514

263

1,172

Total

171,400

207,579

5,322

28,082

176,722

235,661

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

Loans in non-accrual status with

no allowance at March 31,

2023 include $

176

million in collateral dependent loans

(December 31,

2022 - $

177

million). The Corporation recognized $

million in interest income on non-accrual loans during the quarter ended March

31, 2023 (March 31, 2022 - $

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 March

31, 2023 and December 31, 2022:

March 31, 2023

(In thousands)

Real Estate

Auto

Equipment

Accounts

Receivables

Other

Total

BPPR

Commercial multi-family

1,316

Commercial real estate:

Non-owner occupied

180,090

Owner occupied

32,471

Commercial and industrial

1,070

8,397

18,995

28,484

Mortgage

106,168

Leasing

844

Consumer:

Personal

5,433

Auto

10,074

Other

263

Total BPPR

326,548

10,918

8,397

19,258

365,143

Popular U.S.

Commercial real estate:

Owner occupied

5,095

Commercial and industrial

2,000

2,074

Mortgage

775

Total Popular U.S.

5,870

2,000

7,944

Popular, Inc.

Commercial multi-family

1,316

Commercial real estate:

Non-owner occupied

180,090

Owner occupied

37,566

Commercial and industrial

1,070

8,397

20,995

30,558

Mortgage

106,943

Leasing

844

Consumer:

Personal

5,433

Auto

10,074

Other

263

Total Popular,

Inc.

332,418

10,918

8,397

21,258

373,087

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