XML 33 R19.htm IDEA: XBRL DOCUMENT v3.23.2
Allowance for credit losses - loans held-in-portfolio
 6 Months Ended
Jun. 30, 2023
Allowance for credit losses [Abstract]  
Allowance for credit losses
Note 9 – Allowance for credit losses – loans
 
held-in-portfolio
The
Corporation follows
 
the current
 
expected credit
 
loss
 
(“CECL”) model,
 
to
 
establish and
 
evaluate the
 
adequacy of
 
the ACL
 
to
provide for
 
expected losses
 
in the
 
loan portfolio.
 
This model
 
establishes a forward-looking
 
methodology that
 
reflects the
 
expected
credit losses over the lives of financial assets, starting when such
 
assets are first acquired or originated. In addition, CECL provides
that the initial ACL on purchased credit deteriorated (“PCD”) financial
 
assets be recorded as an increase to the
 
purchase price, with
subsequent
 
changes
 
to
 
the
 
allowance
 
recorded
 
as
 
a
 
credit
 
loss
 
expense.
 
The
 
provision
 
for
 
credit
 
losses
 
recorded
 
in
 
current
operations
 
is
 
based
 
on
 
this
 
methodology.
 
Loan
 
losses
 
are
 
charged
 
and
 
recoveries
 
are
 
credited
 
to
 
the
 
ACL.
 
The
 
Corporation’s
modeling framework includes competing
 
risk models that
 
generate lifetime default and
 
prepayment estimates as well
 
as other loan
level techniques to estimate loss severity.
 
These models combine credit risk factors, which include the
 
impact of loan modifications,
with macroeconomic expectations to derive the
 
lifetime expected loss.
At June
 
30, 2023,
 
the Corporation
 
estimated the
 
ACL by
 
weighting the
 
outputs of
 
optimistic, baseline,
 
and pessimistic
 
scenarios.
Among the
 
three scenarios used
 
to estimate
 
the ACL, the
 
baseline is
 
assigned the highest
 
probability,
 
followed by the
 
pessimistic
scenario given the
 
uncertainties in the
 
economic outlook and
 
downside risk. The
 
weightings applied are subject
 
to evaluation on
 
a
quarterly basis
 
as part
 
of the
 
ACL’s
 
governance process. During
 
the second
 
quarter 2023,
 
due to
 
positive trends, the
 
Corporation
lowered the
 
probability weights assigned
 
to the
 
pessimistic scenario and
 
increased the probability
 
weight assigned to
 
the baseline
scenario,
 
prompting
 
a
 
reserve
 
release
 
of
 
$
5.8
 
million.
 
The
 
baseline
 
scenario
 
continues
 
to
 
be
 
assigned
 
the
 
highest
 
probability,
followed by the
 
pessimistic scenario, and
 
then the
 
optimistic scenario.
 
The Corporation evaluates,
 
at least on
 
an annual basis,
 
the
assumptions tied to the CECL accounting framework. These include the reasonable and supportable period as well as the reversion
window.
The
 
2023
 
annualized
 
GDP
 
growth
 
in
 
the
 
baseline
 
scenario
 
stands
 
at
 
1.5%
 
and
 
1.6%
 
for
 
Puerto
 
Rico
 
and
 
the
 
United
 
States,
respectively, compared to 2.1% and 1.3%
 
in the previous quarter. The 2023 forecasted average unemployment rate for
 
Puerto Rico
improved to
 
6.3% from
 
6.9% in
 
the previous
 
forecast, while
 
in the
 
United States
 
unemployment levels
 
remained stable
 
at
 
3.6%,
compared to 3.5% in the previous forecast.
The following tables
 
present the changes
 
in the ACL
 
of loans
 
held-in-portfolio and unfunded
 
commitments for the
 
quarters and six
months ended June 30, 2023 and 2022.
For the quarter ended June 30, 2023
BPPR
Provision for
Allowance for
Net Write
down
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balances
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
4,756
$
30
$
-
$
-
$
1
$
-
$
4,787
Commercial real estate non-owner occupied
53,894
(98)
-
(609)
179
-
53,366
Commercial real estate owner occupied
46,009
(4,437)
-
(76)
405
-
41,901
Commercial and industrial
77,042
3,164
-
(1,061)
2,492
-
81,637
Total Commercial
181,701
(1,341)
-
(1,746)
3,077
-
181,691
Construction
3,072
6,482
-
-
-
-
9,554
Mortgage
89,077
(9,572)
10
(297)
3,681
-
82,899
Leasing
20,990
(5,470)
-
(2,540)
947
-
13,927
Consumer
 
Credit Cards
67,953
10,558
-
(8,457)
1,955
(601)
71,408
 
HELOCs
100
(29)
-
(35)
60
-
96
 
Personal
88,408
20,279
-
(16,601)
3,960
-
96,046
 
Auto
130,829
5,909
-
(8,099)
5,608
-
134,247
 
Other
4,877
1,563
-
(354)
154
-
6,240
Total Consumer
292,167
38,280
-
(33,546)
11,737
(601)
308,037
Total - Loans
$
587,007
$
28,379
$
10
$
(38,129)
$
19,442
$
(601)
$
596,108
Allowance for credit losses - unfunded commitments:
Commercial
$
4,900
$
388
$
-
$
-
$
-
$
-
$
5,288
Construction
1,946
1,164
-
-
-
-
3,110
Ending balance - unfunded commitments [1]
$
6,846
$
1,552
$
-
$
-
$
-
$
-
$
8,398
[
1
]
[1] Allowance for credit losses of unfunded commitments
 
is presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
For the quarter ended June 30, 2023
Popular U.S.
Provision for
 
Beginning
credit losses -
Ending
(In thousands)
Balance
(benefits)
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
20,610
$
781
$
-
$
1
$
21,392
Commercial real estate non-owner occupied
17,956
328
-
66
18,350
Commercial real estate owner occupied
8,488
1,174
(177)
21
9,506
Commercial and industrial
15,224
4,524
(2,081)
347
18,014
Total Commercial
62,278
6,807
(2,258)
435
67,262
Construction
1,258
520
-
-
1,778
Mortgage
15,400
(2,315)
-
109
13,194
Consumer
 
Credit Cards
-
-
-
-
-
 
HELOCs
1,853
55
(52)
218
2,074
 
Personal
21,321
2,169
(4,287)
579
19,782
 
Other
3
46
(47)
-
2
Total Consumer
23,177
2,270
(4,386)
797
21,858
Total - Loans
$
102,113
$
7,282
$
(6,644)
$
1,341
$
104,092
Allowance for credit losses - unfunded commitments:
Commercial
$
1,229
$
119
$
-
$
-
$
1,348
Construction
1,278
519
-
-
1,797
Consumer
62
(12)
-
-
50
Ending balance - unfunded commitments [1]
$
2,569
$
626
$
-
$
-
$
3,195
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
For the quarter ended June 30, 2023
Popular Inc.
Provision for
Allowance
for
Net Write
Down
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
25,366
$
811
$
-
$
-
$
2
$
-
$
26,179
Commercial real estate non-owner occupied
71,850
230
-
(609)
245
-
71,716
Commercial real estate owner occupied
54,497
(3,263)
-
(253)
426
-
51,407
Commercial and industrial
92,266
7,688
-
(3,142)
2,839
-
99,651
Total Commercial
243,979
5,466
-
(4,004)
3,512
-
248,953
Construction
4,330
7,002
-
-
-
-
11,332
Mortgage
104,477
(11,887)
10
(297)
3,790
-
96,093
Leasing
20,990
(5,470)
-
(2,540)
947
-
13,927
Consumer
 
Credit Cards
67,953
10,558
-
(8,457)
1,955
(601)
71,408
 
HELOCs
1,953
26
-
(87)
278
-
2,170
 
Personal
109,729
22,448
-
(20,888)
4,539
-
115,828
 
Auto
130,829
5,909
-
(8,099)
5,608
-
134,247
 
Other
4,880
1,609
-
(401)
154
-
6,242
Total Consumer
315,344
40,550
-
(37,932)
12,534
(601)
329,895
Total - Loans
$
689,120
$
35,661
$
10
$
(44,773)
$
20,783
$
(601)
$
700,200
Allowance for credit losses - unfunded commitments:
Commercial
$
6,129
$
507
$
-
$
-
$
-
$
-
$
6,636
Construction
3,224
1,683
-
-
-
-
4,907
Consumer
62
(12)
-
-
-
-
50
Ending balance - unfunded commitments [1]
$
9,415
$
2,178
$
-
$
-
$
-
$
-
$
11,593
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
For the six months ended June 30, 2023
BPPR
Impact of
Provision for
Allowance for
Net write
down
Beginning
Adopting
credit losses
credit losses -
Ending
(In thousands)
Balance
ASU 2022-02
(benefit)
PCD Loans
Charge-off
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
5,210
$
-
$
(424)
$
-
$
-
$
1
$
-
$
4,787
Commercial real estate non-owner occupied
52,475
-
1,186
-
(609)
314
-
53,366
Commercial real estate owner occupied
48,393
(1,161)
(7,167)
-
(79)
1,915
-
41,901
Commercial and industrial
68,217
(552)
12,983
-
(2,668)
3,657
-
81,637
Total Commercial
174,295
(1,713)
6,578
-
(3,356)
5,887
-
181,691
Construction
2,978
-
6,576
-
-
-
-
9,554
Mortgage
117,344
(33,556)
(8,305)
78
(1,143)
8,481
-
82,899
Leasing
20,618
(35)
(4,736)
-
(3,957)
2,037
-
13,927
Consumer
 
Credit Cards
58,670
-
26,128
-
(17,133)
4,344
(601)
71,408
 
HELOCs
103
-
(68)
-
(68)
129
-
96
 
Personal
96,369
(7,020)
31,383
-
(30,181)
5,495
-
96,046
 
Auto
129,735
(21)
14,228
-
(20,217)
10,522
-
134,247
 
Other
15,433
-
1,798
-
(11,361)
370
-
6,240
Total Consumer
300,310
(7,041)
73,469
-
(78,960)
20,860
(601)
308,037
Total - Loans
$
615,545
$
(42,345)
$
73,582
$
78
$
(87,416)
$
37,265
$
(601)
$
596,108
Allowance for credit losses - unfunded commitments:
Commercial
$
4,336
$
-
$
952
$
-
$
-
$
-
$
-
$
5,288
Construction
2,022
-
1,088
-
-
-
-
3,110
Ending balance - unfunded commitments [1]
$
6,358
$
-
$
2,040
$
-
$
-
$
-
$
-
$
8,398
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
For the six months ended June 30, 2023
Popular U.S.
Impact of
Provision for
 
Beginning
Adopting
credit losses -
Ending
(In thousands)
Balance
ASU 2022-02
(benefits)
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
21,101
$
-
$
288
$
-
$
3
$
21,392
Commercial real estate non-owner occupied
19,065
-
(2,633)
-
1,918
18,350
Commercial real estate owner occupied
8,688
-
950
(177)
45
9,506
Commercial and industrial
12,227
-
7,052
(2,580)
1,315
18,014
Total Commercial
61,081
-
5,657
(2,757)
3,281
67,262
Construction
1,268
-
510
-
-
1,778
Mortgage
17,910
(2,098)
(2,741)
-
123
13,194
Consumer
 
Credit Cards
-
-
1
(1)
-
-
 
HELOCs
2,439
-
(657)
(195)
487
2,074
 
Personal
22,057
(1,140)
6,360
(8,457)
962
19,782
 
Other
2
-
95
(100)
5
2
Total Consumer
24,498
(1,140)
5,799
(8,753)
1,454
21,858
Total - Loans
$
104,757
$
(3,238)
$
9,225
$
(11,510)
$
4,858
$
104,092
Allowance for credit losses - unfunded commitments:
Commercial
$
1,175
$
-
$
173
$
-
$
-
$
1,348
Construction
1,184
-
613
-
-
1,797
Consumer
88
-
(38)
-
-
50
Ending balance - unfunded commitments [1]
$
2,447
$
-
$
748
$
-
$
-
$
3,195
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
For the six months ended June 30, 2023
Popular Inc.
Impact
Provision for
Allowance
for
Net write
down
Beginning
of adopting
credit losses
credit losses -
Ending
(In thousands)
Balance
ASU 2022-02
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
26,311
$
-
$
(136)
$
-
$
-
$
4
$
-
$
26,179
Commercial real estate non-owner occupied
71,540
-
(1,447)
-
(609)
2,232
-
71,716
Commercial real estate owner occupied
57,081
(1,161)
(6,217)
-
(256)
1,960
-
51,407
Commercial and industrial
80,444
(552)
20,035
-
(5,248)
4,972
-
99,651
Total Commercial
235,376
(1,713)
12,235
-
(6,113)
9,168
-
248,953
Construction
4,246
-
7,086
-
-
-
-
11,332
Mortgage
135,254
(35,654)
(11,046)
78
(1,143)
8,604
-
96,093
Leasing
20,618
(35)
(4,736)
-
(3,957)
2,037
-
13,927
Consumer
 
Credit Cards
58,670
-
26,129
-
(17,134)
4,344
(601)
71,408
 
HELOCs
2,542
-
(725)
-
(263)
616
-
2,170
 
Personal
118,426
(8,160)
37,743
-
(38,638)
6,457
-
115,828
 
Auto
129,735
(21)
14,228
-
(20,217)
10,522
-
134,247
 
Other
15,435
-
1,893
-
(11,461)
375
-
6,242
Total Consumer
324,808
(8,181)
79,268
-
(87,713)
22,314
(601)
329,895
Total - Loans
$
720,302
$
(45,583)
$
82,807
$
78
$
(98,926)
$
42,123
$
(601)
$
700,200
Allowance for credit losses - unfunded commitments:
Commercial
$
5,511
$
-
$
1,125
$
-
$
-
$
-
$
-
$
6,636
Construction
3,206
-
1,701
-
-
-
-
4,907
Consumer
88
-
(38)
-
-
-
-
50
Ending balance - unfunded commitments [1]
$
8,805
$
-
$
2,788
$
-
$
-
$
-
$
-
$
11,593
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
For the quarter ended June 30, 2022
BPPR
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
3,435
$
87
$
-
$
-
$
-
$
3,522
Commercial real estate non-owner occupied
51,639
(1,909)
-
(30)
693
50,393
Commercial real estate owner occupied
47,027
1,622
-
(835)
1,658
49,472
Commercial and industrial
43,370
4,864
-
(457)
2,383
50,160
Total Commercial
145,471
4,664
-
(1,322)
4,734
153,547
Construction
2,414
265
-
-
395
3,074
Mortgage
131,362
(5,953)
170
(1,367)
5,818
130,030
Leasing
18,398
1,306
-
(1,496)
829
19,037
Consumer
 
Credit Cards
43,782
5,634
-
(6,418)
2,341
45,339
 
HELOCs
86
(69)
-
(74)
147
90
 
Personal
67,554
13,601
-
(8,248)
1,892
74,799
 
Auto
152,330
(12,716)
-
(6,650)
4,258
137,222
 
Other
15,214
2,396
-
(389)
218
17,439
Total Consumer
278,966
8,846
-
(21,779)
8,856
274,889
Total - Loans
$
576,611
$
9,128
$
170
$
(25,964)
$
20,632
$
580,577
Allowance for credit losses - unfunded commitments:
Commercial
$
1,647
$
385
$
-
$
-
$
-
$
2,032
Construction
1,924
(390)
-
-
-
1,534
Ending balance - unfunded commitments [1]
$
3,571
$
(5)
$
-
$
-
$
-
$
3,566
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
For the quarter ended June 30, 2022
Popular U.S.
Provision for
Beginning
credit losses
Ending
(In thousands)
Balance
(benefit)
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
22,655
$
(2,089)
$
-
$
5
$
20,571
Commercial real estate non-owner occupied
15,398
(1,128)
-
14
14,284
Commercial real estate owner occupied
10,001
(1,035)
-
110
9,076
Commercial and industrial
11,118
1,300
(397)
131
12,152
Total Commercial
59,172
(2,952)
(397)
260
56,083
Construction
4,125
(290)
-
4
3,839
Mortgage
17,844
494
(68)
5
18,275
Consumer
 
Credit Cards
-
(1)
-
1
-
 
HELOCs
3,625
(642)
(42)
514
3,455
 
Personal
16,411
4,087
(1,239)
261
19,520
 
Other
4
37
(47)
7
1
Total Consumer
20,040
3,481
(1,328)
783
22,976
Total - Loans
$
101,181
$
733
$
(1,793)
$
1,052
$
101,173
Allowance for credit losses - unfunded commitments:
Commercial
$
1,318
$
(1)
$
-
$
-
$
1,317
Construction
2,135
(174)
-
-
1,961
Consumer
30
30
-
-
60
Ending balance - unfunded commitments [1]
$
3,483
$
(145)
$
-
$
-
$
3,338
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
For the quarter ended June 30, 2022
Popular Inc.
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
26,090
$
(2,002)
$
-
$
-
$
5
$
24,093
Commercial real estate non-owner occupied
67,037
(3,037)
-
(30)
707
64,677
Commercial real estate owner occupied
57,028
587
-
(835)
1,768
58,548
Commercial and industrial
54,488
6,164
-
(854)
2,514
62,312
Total Commercial
204,643
1,712
-
(1,719)
4,994
209,630
Construction
6,539
(25)
-
-
399
6,913
Mortgage
149,206
(5,459)
170
(1,435)
5,823
148,305
Leasing
18,398
1,306
-
(1,496)
829
19,037
Consumer
 
Credit Cards
43,782
5,633
-
(6,418)
2,342
45,339
 
HELOCs
3,711
(711)
-
(116)
661
3,545
 
Personal
83,965
17,688
-
(9,487)
2,153
94,319
 
Auto
152,330
(12,716)
-
(6,650)
4,258
137,222
 
Other
15,218
2,433
-
(436)
225
17,440
Total Consumer
299,006
12,327
-
(23,107)
9,639
297,865
Total - Loans
$
677,792
$
9,861
$
170
$
(27,757)
$
21,684
$
681,750
Allowance for credit losses - unfunded commitments:
Commercial
$
2,965
$
384
$
-
$
-
$
-
$
3,349
Construction
4,059
(564)
-
-
-
3,495
Consumer
30
30
-
-
-
60
Ending balance - unfunded commitments [1]
$
7,054
$
(150)
$
-
$
-
$
-
$
6,904
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial
Condition.
For the six months ended June 30, 2022
BPPR
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
3,050
$
472
$
-
$
-
$
-
$
3,522
Commercial real estate non-owner occupied
45,211
4,335
-
(30)
877
50,393
Commercial real estate owner occupied
54,176
(8,469)
-
(953)
4,718
49,472
Commercial and industrial
49,491
(2,361)
-
(866)
3,896
50,160
Total Commercial
151,928
(6,023)
-
(1,849)
9,491
153,547
Construction
1,641
622
-
-
811
3,074
Mortgage
138,286
(16,481)
782
(2,688)
10,131
130,030
Leasing
17,578
1,692
-
(1,903)
1,670
19,037
Consumer
 
Credit Cards
43,499
9,335
-
(12,101)
4,606
45,339
 
HELOCs
98
(85)
-
(164)
241
90
 
Personal
71,022
15,214
-
(15,106)
3,669
74,799
 
Auto
154,498
(10,023)
-
(15,528)
8,275
137,222
 
Other
15,612
2,216
-
(945)
556
17,439
Total Consumer
284,729
16,657
-
(43,844)
17,347
274,889
Total - Loans
$
594,162
$
(3,533)
$
782
$
(50,284)
$
39,450
$
580,577
Allowance for credit losses - unfunded commitments:
Commercial
$
1,751
$
281
$
-
$
-
$
-
$
2,032
Construction
2,388
(854)
-
-
-
1,534
Ending balance - unfunded commitments [1]
$
4,139
$
(573)
$
-
$
-
$
-
$
3,566
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
For the six months ended June 30, 2022
Popular U.S.
Provision for
Beginning
credit losses
Ending
(In thousands)
Balance
(benefit)
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
25,418
$
(4,859)
$
-
$
12
$
20,571
Commercial real estate non-owner occupied
22,246
(7,979)
-
17
14,284
Commercial real estate owner occupied
6,053
2,801
-
222
9,076
Commercial and industrial
10,160
1,753
(524)
763
12,152
Total Commercial
63,877
(8,284)
(524)
1,014
56,083
Construction
4,722
(2,015)
-
1,132
3,839
Mortgage
16,192
2,126
(68)
25
18,275
Consumer
 
Credit Cards
-
(10)
-
10
-
 
HELOCs
3,708
(1,634)
(52)
1,433
3,455
 
Personal
12,700
8,703
(2,457)
574
19,520
 
Other
5
103
(124)
17
1
Total Consumer
16,413
7,162
(2,633)
2,034
22,976
Total - Loans
$
101,204
$
(1,011)
$
(3,225)
$
4,205
$
101,173
Allowance for credit losses - unfunded commitments:
Commercial
$
1,384
$
(67)
$
-
$
-
$
1,317
Construction
2,337
(376)
-
-
1,961
Consumer
37
23
-
-
60
Ending balance - unfunded commitments [1]
$
3,758
$
(420)
$
-
$
-
$
3,338
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
For the six months ended June 30, 2022
Popular Inc.
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
28,468
$
(4,387)
$
-
$
-
$
12
$
24,093
Commercial real estate non-owner occupied
67,457
(3,644)
-
(30)
894
64,677
Commercial real estate owner occupied
60,229
(5,668)
-
(953)
4,940
58,548
Commercial and industrial
59,651
(608)
-
(1,390)
4,659
62,312
Total Commercial
215,805
(14,307)
-
(2,373)
10,505
209,630
Construction
6,363
(1,393)
-
-
1,943
6,913
Mortgage
154,478
(14,355)
782
(2,756)
10,156
148,305
Leasing
17,578
1,692
-
(1,903)
1,670
19,037
Consumer
 
Credit Cards
43,499
9,325
-
(12,101)
4,616
45,339
 
HELOCs
3,806
(1,719)
-
(216)
1,674
3,545
 
Personal
83,722
23,917
-
(17,563)
4,243
94,319
 
Auto
154,498
(10,023)
-
(15,528)
8,275
137,222
 
Other
15,617
2,319
-
(1,069)
573
17,440
Total Consumer
301,142
23,819
-
(46,477)
19,381
297,865
Total - Loans
$
695,366
$
(4,544)
$
782
$
(53,509)
$
43,655
$
681,750
Allowance for credit losses - unfunded commitments:
Commercial
$
3,135
$
214
$
-
$
-
$
-
$
3,349
Construction
4,725
(1,230)
-
-
-
3,495
Consumer
37
23
-
-
-
60
Ending balance - unfunded commitments [1]
$
7,897
$
(993)
$
-
$
-
$
-
$
6,904
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
Modifications
A
 
modification
 
constitutes
 
a
 
change
 
in
 
loan
 
terms
 
in
 
the
 
form
 
of
 
principal
 
forgiveness,
 
an
 
interest
 
rate
 
reduction,
 
other
 
than-
insignificant payment delay, term extension or combination of the above made
 
to a borrower experiencing financial difficulty.
The amount
 
of outstanding
 
commitments to
 
lend additional
 
funds to
 
debtors owing
 
receivables whose
 
terms have
 
been modified
during the period ended at June 30, 2023 amounted
 
to $
5
 
million related to the commercial loan portfolio.
The following tables show the amortized cost basis of the loans modified to borrowers experiencing financial difficulties at the end of
the reporting period
 
disaggregated by class
 
of financing receivable
 
and type
 
of concession granted
 
for the
 
quarter and six
 
months
ended June
 
30,2023. Loans
 
modified to
 
borrowers under
 
financial difficulties
 
that were
 
fully paid
 
down, charged-off
 
or foreclosed
upon by period end are not reported.
Loan Modifications Made to Borrowers Experiencing Financial
 
Difficulty for the quarter ended June 30,2023
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(In thousands)
Amortized Cost
Basis at June
30,2023
% of total class
of Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Consumer:
 
Credit cards
$
222
0.02
%
$
-
-
%
$
222
0.02
%
 
Personal
196
0.01
%
3
-
%
199
0.01
%
Total
$
418
-
%
$
3
-
%
$
421
-
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(In thousands)
Amortized Cost
Basis at June
30,2023
% of total class
of Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
CRE non-owner occupied
$
24,978
0.86
%
$
-
-
%
$
24,978
0.53
%
CRE owner occupied
1,434
0.10
%
15,715
0.97
%
17,149
0.56
%
Commercial and industrial
21,610
0.54
%
-
-
%
21,610
0.35
%
Construction
5,422
3.12
%
-
-
%
5,422
0.66
%
Mortgage
10,694
0.17
%
2,676
0.21
%
13,370
0.18
%
Consumer:
 
Personal
48
-
%
113
0.05
%
161
0.01
%
 
Auto
38
-
%
-
-
%
38
-
%
Total
$
64,224
0.28
%
$
18,504
0.19
%
$
82,728
0.25
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(In thousands)
Amortized Cost
Basis at June
30,2023
% of total class
of Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
CRE owner occupied
$
748
0.05
%
$
-
-
%
$
748
0.02
%
Mortgage
137
-
%
-
-
%
137
-
%
Total
$
885
-
%
$
-
-
%
$
885
-
%
Combination - Term extension
 
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(In thousands)
Amortized Cost
Basis at June
30,2023
% of total class
of Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Commercial and industrial
$
58
-
%
$
-
-
%
$
58
-
%
Mortgage
11,372
0.18
%
81
0.01
%
11,453
0.15
%
Consumer:
 
Personal
489
0.03
%
-
-
%
489
0.03
%
Total
$
11,919
0.05
%
$
81
-
%
$
12,000
0.04
%
Combination -
 
Other-Than-Insignificant Payment Delays and Interest Rate
 
Reduction
Puerto Rico
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June
30,2023
% of total class
of Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Commercial and industrial
$
78
0.00%
$
-
-
$
78
0.00%
Consumer:
 
Credit cards
190
0.02%
-
-
190
0.02%
Total
$
268
0.00%
$
-
-
$
268
0.00%
Loan Modifications Made to Borrowers Experiencing Financial
 
Difficulty for the six months ended June 30,2023
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(In thousands)
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Mortgage
$
226
-
%
$
-
-
%
$
226
-
%
Consumer:
 
Credit cards
427
0.04
%
-
-
%
427
0.04
%
 
Personal
313
0.02
%
3
-
%
316
0.02
%
 
Other
3
-
%
-
-
%
3
-
%
Total
$
969
-
%
$
3
-
%
$
972
-
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(In thousands)
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
CRE non-owner occupied
$
24,978
0.86
%
$
-
-
%
$
24,978
0.53
%
CRE owner occupied
3,159
0.22
%
15,715
0.97
%
18,874
0.62
%
Commercial and industrial
25,069
0.62
%
-
-
%
25,069
0.40
%
Construction
5,422
3.12
%
4,700
0.73
%
10,122
1.23
%
Mortgage
25,100
0.41
%
4,515
0.35
%
29,615
0.40
%
Consumer:
 
Personal
74
-
%
165
0.08
%
239
0.01
%
 
Auto
38
-
%
-
-
%
38
-
%
Total
$
83,840
0.36
%
$
25,095
0.25
%
$
108,935
0.33
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(In thousands)
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
CRE non-owner occupied
$
1,743
0.06
%
$
-
-
%
$
1,743
0.04
%
CRE owner occupied
13,812
0.97
%
13,650
0.85
%
27,462
0.90
%
Commercial and industrial
1,395
0.03
%
822
0.04
%
2,217
0.04
%
Mortgage
137
-
%
-
-
%
137
-
%
Total
$
17,087
0.07
%
$
14,472
0.15
%
$
31,559
0.10
%
Combination - Term extension
 
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(In thousands)
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
CRE owner occupied
$
101
0.01
%
$
-
-
%
$
101
0.01
%
Commercial and industrial
58
-
%
-
-
%
58
-
%
Mortgage
21,805
0.35
%
408
0.03
%
22,213
0.30
%
Consumer:
 
Personal
907
0.05
%
-
-
%
907
0.05
%
 
Auto
28
-
%
-
-
%
28
-
%
Total
$
22,899
0.10
%
$
408
-
%
$
23,307
0.07
%
Combination - Other-Than-Insignificant Payment Delays
 
and Interest Rate Reduction
Puerto Rico
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30,2023
% of total class of
Financing
Receivable
Commercial and industrial
$
78
0.00%
$
-
-
$
78
0.00%
Consumer:
 
Credit cards
445
0.04%
-
-
445
0.04%
Total
$
523
0.00%
$
-
-
$
523
0.00%
The following table describes the financial effect of the
 
modifications made to borrowers experiencing
 
financial difficulties:
For the quarter ended June 30, 2023
Interest rate reduction
Loan Type
Financial Effect
Commercial and industrial
Reduced weighted-average contractual interest rate from
21.7
% to
8
.0%.
Mortgage
Reduced weighted-average contractual interest rate from
5.6
% to
4.1
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
17.6
% to
4.7
%.
Personal
Reduced weighted-average contractual interest rate from
20.3
% to
10.7
%.
Term extension
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
10
 
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
1
 
year to the life of loans.
Commercial and industrial
Added a weighted-average of
1
 
year to the life of loans.
Construction
Added a weighted-average of
6
 
months to the life of loans.
Mortgage
Added a weighted-average of
12
 
years to the life of loans.
Consumer:
Personal
Added a weighted-average of
6
 
years to the life of loans.
Auto
Added a weighted-average of
3
 
years to the life of loans.
Other than insignificant payment delay
Loan Type
Financial Effect
CRE Owner occupied
Added a weighted-average of
24
 
months to the life of loans.
Commercial and industrial
Added a weighted-average of
24
 
months to the life of loans.
Mortgage
Added a weighted-average of
40
 
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
24
 
months to the life of loans.
For the six months ended June 30, 2023
Interest rate reduction
Loan Type
Financial Effect
CRE Owner occupied
Reduced weighted-average contractual interest rate from
6
.0% to
5.3
%.
Commercial and industrial
Reduced weighted-average contractual interest rate from
21.7
% to
8
.0%.
Mortgage
Reduced weighted-average contractual interest rate from
5.7
% to
4.2
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
17.6
% to
4.6
%.
Personal
Reduced weighted-average contractual interest rate from
18.9
% to
10.3
%.
Auto
Reduced weighted-average contractual interest rate from
12.64
% to
12.62
%.
Other
Reduced weighted-average contractual interest rate from
18
.0% to
0
%.
Term extension
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
10
 
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
1
 
year to the life of loans.
Commercial and industrial
Added a weighted-average of
1
 
year to the life of loans.
Construction
Added a weighted-average of
6
 
months to the life of loans.
Mortgage
Added a weighted-average of
11
 
years to the life of loans.
Consumer:
Personal
Added a weighted-average of
6
 
years to the life of loans.
Auto
Added a weighted-average of
3
 
years to the life of loans.
Other than insignificant payment delay
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
12
 
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
8
 
months to the life of loans.
Commercial and industrial
Added a weighted-average of
9
 
months to the life of loans.
Mortgage
Added a weighted-average of
40
 
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
24
 
months to the life of loans.
The following
 
table presents,
 
by class, the
 
performance of loans
 
that have
 
been modified
 
in the
 
last six
 
months at
 
June 30,
 
2023.
The
 
past
 
due
 
90
 
days
 
or
 
more
 
categories includes
 
all
 
loans modified
 
classified
 
as
 
non-accruing
 
at
 
the
 
time
 
of
 
the
 
modification.
These loans will continue in non-accrual status, and presented as past
 
due 90 days or more, until the borrower has
 
demonstrated a
willingness and ability to
 
make the restructured loan
 
payments (at least six
 
months of sustained
 
performance after the modification
or one year
 
for loans providing
 
for quarterly or
 
semi-annual payments) and
 
management has concluded that
 
it is probable
 
that the
borrower would not be in payment default in the
 
foreseeable future.
BPPR
For the period ended June 30, 2023
Past Due 90 days or more [1]
(In thousands)
30-59 days
60-89 days
Past due 90
days or more
Total past
due
Current
Total
With Payment
Default
Without
Payment Default
CRE Non-owner occupied
$
-
$
-
$
428
$
428
$
26,293
$
26,721
$
-
$
428
CRE Owner occupied
-
-
2,338
2,338
14,752
17,090
-
2,338
Commercial and industrial
-
-
872
872
25,728
26,600
114
758
Construction
-
-
-
-
5,422
5,422
-
-
Mortgage
3,158
1,611
16,213
20,982
26,286
47,268
1,047
15,166
Consumer:
 
Credit cards
36
50
91
177
695
872
51
40
 
Personal
30
-
331
361
933
1,294
8
323
 
Auto
-
-
12
12
54
66
-
12
 
Other
-
-
-
-
3
3
-
-
Total
$
3,224
$
1,661
$
20,285
$
25,170
$
100,166
$
125,336
$
1,220
$
19,065
[1] Loans that were in non-accrual status at the time
 
of modification are presented as past due until the borrower
 
has demonstrated a willingness and ability
to make the restructured loan payments. Payment default
 
is defined as a restructured loan becoming 90 days past
 
due after being modified, foreclosed or
charged-off, whichever occurs first. The recorded investment
 
as of period end is inclusive of all partial paydowns
 
and charge-offs since the modification
date. Loans modified with financial difficulty that
 
were fully paid down, charged-off or foreclosed upon
 
by period end are not reported.
Popular U.S.
For the period ended June 30, 2023
Past Due 90 days or more [1]
(In thousands)
30-59 days
60-89 days
Past due 90
days or more
Total past
due
Current
Total
With Payment
Default
Without
Payment Default
CRE Owner occupied
$
-
$
-
$
-
$
-
$
29,365
$
29,365
$
-
$
-
Commercial and industrial
-
-
-
-
822
822
-
-
Construction
-
-
-
-
4,700
4,700
-
-
Mortgage
-
-
340
340
4,583
4,923
104
236
Consumer:
 
Personal
-
-
132
132
36
168
-
132
Total
$
-
$
-
$
472
$
472
$
39,506
$
39,978
$
104
$
368
[1] Loans that were in non-accrual status at the time
 
of modification are presented as past due until the borrower
 
has demonstrated a willingness and ability
to make the restructured loan payments. Payment default
 
is defined as a restructured loan becoming 90 days past
 
due after being modified, foreclosed or
charged-off, whichever occurs first. The recorded investment
 
as of period end is inclusive of all partial paydowns
 
and charge-offs since the modification
date. Loans modified with financial difficulty that
 
were fully paid down, charged-off or foreclosed upon
 
by period end are not reported.
Popular Inc.
For the period ended June 30, 2023
Past Due 90 days or more [1]
(In thousands)
30-59 days
60-89 days
Past due 90
days or more
Total past
due
Current
Total
With Payment
Default
Without
Payment Default
CRE Non-owner occupied
$
-
$
-
$
428
$
428
$
26,293
$
26,721
$
-
$
428
CRE Owner occupied
-
-
2,338
2,338
44,117
46,455
-
2,338
Commercial and industrial
-
-
872
872
26,550
27,422
114
758
Construction
-
-
-
-
10,122
10,122
-
-
Mortgage
3,158
1,611
16,553
21,322
30,869
52,191
1,151
15,402
Consumer:
 
Credit cards
36
50
91
177
695
872
51
40
 
Personal
30
-
463
493
969
1,462
8
455
 
Auto
-
-
12
12
54
66
-
12
 
Other
-
-
-
-
3
3
-
-
Total
$
3,224
$
1,661
$
20,757
$
25,642
$
139,672
$
165,314
$
1,324
$
19,433
[1] Loans that were in non-accrual status at the time
 
of modification are presented as past due until the borrower
 
has demonstrated a willingness and ability
to make the restructured loan payments.
 
Payment default is defined as a restructured loan becoming
 
90 days past due after being modified, foreclosed
 
or
charged-off, whichever occurs first. The recorded inve
 
stment as of period end is inclusive of all partial
 
paydowns and charge-offs since the modification
date. Loans modified with financial difficulty that
 
were fully paid down, charged-off or foreclosed upon
 
by period end are not reported.
The
 
activity
 
of
 
modified
 
loans
 
to
 
borrowers
 
under
 
financial
 
difficulties
 
that
 
were
 
subject
 
to
 
payment
 
default
 
and
 
that
 
had
 
been
modified during the quarter and six months ended June 30, 2023 was considered immaterial for the Corporation. Payment default is
defined as a restructured loan becoming 90 days
 
past due after being modified, foreclosed or
 
charged-off, whichever occurs first.
Legacy TDR Modifications
A modification of
 
a loan, prior
 
to ASU 2022-02,
 
constituted a troubled
 
debt restructuring (TDR)
 
when a borrower
 
was experiencing
financial difficulty
 
and the
 
modification constituted
 
a concession.
 
For a
 
summary of
 
the legacy
 
accounting policy
 
related to
 
TDRs,
refer to the Summary of Significant Accounting Policies
 
included in Note 2 to the 2022 Form 10-K.
The outstanding
 
balance of
 
loans classified
 
as TDRs
 
amounted to
 
$
1.6
 
billion at
 
December 31,
 
2022. The
 
amount of
 
outstanding
commitments to
 
lend additional
 
funds to
 
debtors owing
 
loans whose
 
terms have
 
been modified
 
in TDRs
 
amounted to
 
$
12
 
million
related to the commercial loan portfolio at December 31,
 
2022.
The following table presents
 
the outstanding balance of
 
loans classified as TDRs
 
according to their accruing
 
status and the related
allowance at December 31, 2022.
December 31, 2022
(In thousands)
Accruing
Non-Accruing
Total
Related
Allowance
Loans held-in-portfolio:
 
Commercial
$
269,784
$
54,641
$
324,425
$
18,451
 
Mortgage
[1]
1,169,976
86,790
1,256,766
58,819
 
Leasing
1,154
24
1,178
43
 
Consumer
54,395
7,883
62,278
13,577
Loans held-in-portfolio
$
1,495,309
$
149,338
$
1,644,647
$
90,890
[1] At December 31, 2022, accruing mortgage loan TDRs include
 
$
725
 
million guaranteed by U.S. sponsored entities
 
at BPPR.
The following
 
table presents
 
the loan
 
count by
 
type of
 
modification for
 
those loans
 
modified in
 
a TDR
 
during the
 
quarter and
 
six
months ended June 30, 2022. Loans modified as
 
TDRs for the U.S. operations are considered insignificant
 
to the Corporation.
Popular Inc.
For the quarter ended June 30, 2022
For the six month ended June 30, 2022
Reduction in
interest rate
Extension of
maturity
date
Combination of
reduction in
interest rate and
extension of
maturity date
Other
Reduction
in interest
rate
Extension of
maturity
date
Combination of
reduction in
interest rate and
extension of
maturity date
Other
Commercial real estate non-owner occupied
-
1
-
1
-
1
-
2
Commercial real estate owner occupied
-
5
1
-
1
6
1
-
Commercial and industrial
2
-
1
-
3
5
1
11
Mortgage
3
31
217
-
4
65
505
1
Leasing
-
-
1
-
-
-
1
-
Consumer:
 
Credit cards
9
-
-
7
24
-
-
22
 
Personal
29
36
-
1
54
56
-
1
 
Auto
-
-
-
-
-
1
-
-
Total
43
73
220
9
86
134
508
37
The following table presents, by class, quantitative
 
information related to loans modified as TDRs
 
during the quarter and six months
ended June 30, 2022.
Popular, Inc.
 
For the quarter ended June 30, 2022
(In thousands)
Loan count
Pre-modification outstanding
recorded investment
Post-modification
outstanding recorded
investment
Increase (decrease) in the
allowance for loan losses as
a result of modification
Commercial real estate non-owner occupied
2
$
52
$
51
$
5
Commercial real estate owner occupied
6
12,377
12,369
(2,073)
Commercial and industrial
3
156
153
30
Mortgage
251
29,907
31,134
1,091
Leasing
1
14
12
2
Consumer:
 
Credit cards
16
162
172
2
 
Personal
66
952
1,030
135
Total
345
$
43,620
$
44,921
$
(808)
Popular, Inc.
 
For the six months ended June 30, 2022
(In thousands)
Loan count
Pre-modification outstanding
recorded investment
Post-modification
outstanding recorded
investment
Increase (decrease) in the
allowance for loan losses as
a result of modification
Commercial real estate non-owner occupied
3
$
3,452
$
3,451
$
5
Commercial real estate owner occupied
8
13,106
13,096
(2,073)
Commercial and industrial
20
49,502
49,308
2,060
Mortgage
575
64,783
66,726
2,111
Leasing
1
14
12
2
Consumer:
 
Credit cards
46
410
445
7
 
Personal
111
1,681
1,758
265
 
Auto
1
28
28
5
Total
765
$
132,976
$
134,824
$
2,382
The following table presents, by
 
class, TDRs that were subject to
 
payment default and that had been modified
 
as a TDR during the
twelve months preceding the default date.
 
Payment default is defined as a restructured loan becoming 90 days past due after being
modified,
 
foreclosed
 
or
 
charged-off,
 
whichever
 
occurs
 
first.
 
The
 
recorded
 
investment
 
as
 
of
 
period
 
end
 
is
 
inclusive
 
of
 
all
 
partial
paydowns
 
and
 
charge-offs
 
since
 
the
 
modification
 
date.
 
Loans
 
modified
 
as
 
a
 
TDR
 
that
 
were
 
fully
 
paid
 
down,
 
charged-off
 
or
foreclosed upon by period end are not reported.
Popular Inc.
Defaulted during the quarter ended
June 30, 2022
Defaulted during the
 
six month ended
June 30, 2022
(In thousands)
Loan count
Recorded investment as
of first default date
Loan count
Recorded Investment as of
first default date
Commercial and industrial
3
$
2,496
3
$
2,496
Mortgage
32
3,830
38
5,699
Consumer:
 
Credit cards
8
28
19
135
 
Personal
7
270
19
398
Total
50
$
6,624
79
$
8,728
Credit Quality
The risk
 
rating system
 
provides for
 
the assignment
 
of ratings
 
at the
 
obligor level
 
based on
 
the financial
 
condition of
 
the borrower.
The
 
risk rating
 
analysis process
 
is
 
performed at
 
least
 
once a
 
year
 
or more
 
frequently if
 
events or
 
conditions change
 
which may
deteriorate the credit quality.
 
In the case of
 
consumer and mortgage loans, these
 
loans are classified considering their
 
delinquency
status at the end of the reporting period.
The following tables present the amortized cost basis, net of unearned income, of
 
loans held-in-portfolio based on the Corporation’s
assignment of obligor risk ratings as defined at June 30,
 
2023 and December 31, 2022 and the gross write-offs
 
recorded by vintage
year.
 
For
 
the
 
definitions
 
of
 
the
 
obligor
 
risk
 
ratings,
 
refer
 
to
 
the
 
Credit
 
Quality
 
section
 
of
 
Note
 
9
 
to
 
the
 
Consolidated
 
Financial
Statements included in the 2022 Form 10-K:
June 30, 2023
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2023
2022
2021
2020
2019
Prior
 
Years
Total
BPPR
Commercial:
Commercial multi-family
Watch
$
6,839
$
-
$
-
$
-
$
18,329
$
4,920
$
-
$
-
$
30,088
Special Mention
-
-
-
-
-
2,618
-
-
2,618
Substandard
-
-
-
-
-
3,195
100
-
3,295
Pass
31,280
140,323
22,693
20,657
15,816
29,842
265
-
260,876
Total commercial
multi-family
$
38,119
$
140,323
$
22,693
$
20,657
$
34,145
$
40,575
$
365
$
-
$
296,877
Commercial real estate non-owner occupied
Watch
$
1,335
$
342
$
13,818
$
13,088
$
14,996
$
63,639
$
-
$
-
$
107,218
Special Mention
-
-
25,284
19,630
66,341
52,629
5,000
-
168,884
Substandard
-
8,668
-
2,766
18,850
20,489
-
-
50,773
Pass
94,895
883,308
562,467
365,497
44,006
618,247
10,952
-
2,579,372
Total commercial
real estate non-
owner occupied
$
96,230
$
892,318
$
601,569
$
400,981
$
144,193
$
755,004
$
15,952
$
-
$
2,906,247
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
609
$
-
$
-
$
-
$
-
$
609
Commercial real estate owner occupied
Watch
$
1,012
$
11,183
$
4,421
$
8,709
$
3,819
$
60,864
$
700
$
-
$
90,708
Special Mention
-
8
2,374
143,133
1,022
60,226
12,515
-
219,278
Substandard
291
16,779
5,981
336
722
76,684
-
-
100,793
Doubtful
-
-
-
-
-
261
-
-
261
Pass
34,603
204,357
259,769
57,215
28,867
421,641
10,566
-
1,017,018
Total commercial
real estate owner
occupied
$
35,906
$
232,327
$
272,545
$
209,393
$
34,430
$
619,676
$
23,781
$
-
$
1,428,058
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
1
$
78
$
-
$
-
$
79
Commercial and industrial
Watch
$
5,610
$
20,130
$
5,289
$
2,142
$
18,099
$
74,579
$
74,645
$
-
$
200,494
Special Mention
11
1,497
3,599
21,181
973
49,242
5,138
-
81,641
Substandard
5,424
1,580
3,250
1,807
2,739
37,241
38,818
-
90,859
Doubtful
-
-
-
-
10
34
-
-
44
Loss
-
-
-
-
-
-
277
-
277
Pass
398,231
748,053
545,018
263,829
141,273
294,775
1,274,329
-
3,665,508
Total commercial
and industrial
$
409,276
$
771,260
$
557,156
$
288,959
$
163,094
$
455,871
$
1,393,207
$
-
$
4,038,823
Year-to-Date gross
write-offs
$
383
$
184
$
131
$
33
$
223
$
239
$
1,475
$
-
$
2,668
Construction
Watch
$
-
$
27,279
$
5,980
$
-
$
-
$
-
$
18,267
$
-
$
51,526
Substandard
-
9,284
-
5,422
-
-
$
-
-
14,706
Pass
8,330
22,165
31,224
11,901
2,090
1,065
30,728
-
107,503
Total construction
$
8,330
$
58,728
$
37,204
$
17,323
$
2,090
$
1,065
$
48,995
$
-
$
173,735
Mortgage
Substandard
$
-
$
162
$
515
$
286
$
3,455
$
77,336
$
-
$
-
$
81,754
Pass
303,008
450,007
438,249
276,647
195,802
4,422,821
-
-
6,086,534
Total mortgage
$
303,008
$
450,169
$
438,764
$
276,933
$
199,257
$
4,500,157
$
-
$
-
$
6,168,288
Year-to-Date gross
write-offs
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
1,143
$
-
$
-
$
1,143
June 30, 2023
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2023
2022
2021
2020
2019
Prior
 
Years
Total
BPPR
Leasing
Substandard
$
-
$
1,189
$
1,156
$
520
$
1,259
$
588
$
-
$
-
$
4,712
Loss
-
-
-
-
-
32
-
-
32
Pass
355,425
561,334
370,204
200,199
115,159
54,458
-
-
1,656,779
Total leasing
$
355,425
$
562,523
$
371,360
$
200,719
$
116,418
$
55,078
$
-
$
-
$
1,661,523
Year-to-Date gross
write-offs
$
156
$
1,536
$
1,448
$
301
$
155
$
361
$
-
$
-
$
3,957
Consumer:
Credit cards
Substandard
$
-
$
-
$
-
$
-
$
-
$
-
$
14,185
$
-
$
14,185
Pass
-
-
-
-
-
-
1,043,187
-
1,043,187
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,057,372
$
-
$
1,057,372
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
17,133
$
-
$
17,133
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
2,570
$
-
$
2,570
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
-
$
2,570
$
-
$
2,570
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
68
$
-
$
68
Personal
Substandard
$
383
$
3,742
$
2,072
$
646
$
1,165
$
8,775
$
-
$
1,013
$
17,796
Loss
-
104
59
-
13
11
-
-
187
Pass
472,830
642,613
242,527
77,428
84,933
123,190
-
24,462
1,667,983
Total Personal
$
473,213
$
646,459
$
244,658
$
78,074
$
86,111
$
131,976
$
-
$
25,475
$
1,685,966
Year-to-Date gross
write-offs
$
149
$
12,908
$
9,517
$
2,500
$
2,768
$
1,642
$
-
$
697
$
30,181
Auto
Substandard
$
770
$
10,424
$
10,352
$
8,593
$
7,168
$
4,380
$
-
$
-
$
41,687
Loss
8
65
10
61
-
7
-
-
151
Pass
614,420
1,029,517
832,770
494,710
339,804
212,474
-
-
3,523,695
Total Auto
$
615,198
$
1,040,006
$
843,132
$
503,364
$
346,972
$
216,861
$
-
$
-
$
3,565,533
Year-to-Date gross
write-offs
$
697
$
9,990
$
5,443
$
2,579
$
1,508
$
-
$
-
$
-
$
20,217
Other consumer
Substandard
$
-
$
28
$
137
$
86
$
17
$
1,232
$
166
$
-
$
1,666
Loss
-
-
-
-
-
263
-
-
263
Pass
16,502
26,939
15,884
6,279
3,873
4,529
59,357
-
133,363
Total Other
consumer
$
16,502
$
26,967
$
16,021
$
6,365
$
3,890
$
6,024
$
59,523
$
-
$
135,292
Year-to-Date gross
write-offs
$
1
$
56
$
50
$
71
$
19
$
11,164
$
-
$
-
$
11,361
Total BPPR
$
2,351,207
$
4,821,080
$
3,405,102
$
2,002,768
$
1,130,600
$
6,782,287
$
2,601,765
$
25,475
$
23,120,284
June 30, 2023
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2023
2022
2021
2020
2019
Prior
Years
Total
Popular U.S.
Commercial:
Commercial multi-family
Watch
$
-
$
745
$
-
$
3,695
$
51,341
$
42,148
$
-
$
-
$
97,929
Special Mention
-
-
-
1,185
-
22,285
-
-
23,470
Substandard
-
-
-
-
14,820
10,592
-
-
25,412
Pass
63,962
520,293
372,904
235,238
217,494
474,679
3,241
-
1,887,811
Total commercial
multi-family
$
63,962
$
521,038
$
372,904
$
240,118
$
283,655
$
549,704
$
3,241
$
-
$
2,034,622
Commercial real estate non-owner occupied
Watch
$
-
$
5,467
$
4,255
$
1,234
$
11,061
$
63,432
$
-
$
-
$
85,449
Special Mention
-
-
-
-
1,340
69,137
-
-
70,477
Substandard
-
-
-
2,127
1,734
3,264
-
-
7,125
Pass
90,429
544,996
207,021
252,596
116,970
455,832
7,114
-
1,674,958
Total commercial
real estate non-
owner occupied
$
90,429
$
550,463
$
211,276
$
255,957
$
131,105
$
591,665
$
7,114
$
-
$
1,838,009
Commercial real estate owner occupied
Watch
$
-
$
-
$
-
$
1,184
$
-
$
55,703
$
-
$
-
$
56,887
Special Mention
-
-
-
3,835
6,153
115
-
-
10,103
Substandard
-
-
-
-
7,324
45,574
-
-
52,898
Pass
165,915
361,119
415,527
113,287
76,725
352,328
8,551
-
1,493,452
Total commercial
real estate owner
occupied
$
165,915
$
361,119
$
415,527
$
118,306
$
90,202
$
453,720
$
8,551
$
-
$
1,613,340
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
177
$
-
$
-
$
177
Commercial and industrial
Watch
$
5,028
$
11,286
$
2,301
$
1,337
$
1,847
$
8,507
$
3,838
$
-
$
34,144
Special Mention
-
1,084
1,168
165
200
71
2
-
2,690
Substandard
-
290
85
60
4,005
2,433
1,659
-
8,532
Loss
-
-
-
79
-
-
-
-
79
Pass
68,321
256,186
377,475
333,243
182,283
508,569
440,802
-
2,166,879
Total commercial
and industrial
$
73,349
$
268,846
$
381,029
$
334,884
$
188,335
$
519,580
$
446,301
$
-
$
2,212,324
Year-to-Date gross
write-offs
$
247
$
221
$
1,995
$
14
$
78
$
-
$
25
$
-
$
2,580
Construction
Watch
$
-
$
-
$
8,207
$
-
$
6,839
$
3,000
$
-
$
-
$
18,046
Special Mention
-
-
-
-
-
34,080
-
-
34,080
Substandard
-
-
4,463
2,605
-
10,049
-
-
17,117
Pass
94,452
249,342
143,526
32,486
56,330
789
-
-
576,925
Total construction
$
94,452
$
249,342
$
156,196
$
35,091
$
63,169
$
47,918
$
-
$
-
$
646,168
Mortgage
Substandard
$
-
$
-
$
1,232
$
857
$
2,727
$
9,761
$
-
$
-
$
14,577
Pass
40,680
227,836
294,594
240,455
180,760
281,888
-
-
1,266,213
Total mortgage
$
40,680
$
227,836
$
295,826
$
241,312
$
183,487
$
291,649
$
-
$
-
$
1,280,790
June 30, 2023
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2023
2022
2021
2020
2019
Prior
Years
Total
Popular U.S.
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
17
$
-
$
17
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
17
$
-
$
17
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
1
$
-
$
1
HELOCs
Substandard
$
-
$
-
$
-
$
-
$
-
$
2,006
$
19
$
1,087
$
3,112
Loss
-
-
-
-
-
99
-
1,040
1,139
Pass
-
-
-
-
-
8,191
40,714
12,714
61,619
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
10,296
$
40,733
$
14,841
$
65,870
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
195
$
-
$
-
$
195
Personal
Substandard
$
140
$
1,327
$
293
$
70
$
185
$
220
$
-
$
-
$
2,235
Loss
-
24
-
-
-
467
-
-
491
Pass
31,181
128,737
33,918
4,696
7,507
1,863
-
-
207,902
Total Personal
$
31,321
$
130,088
$
34,211
$
4,766
$
7,692
$
2,550
$
-
$
-
$
210,628
Year-to-Date gross
write-offs
$
-
$
5,246
$
2,143
$
385
$
562
$
121
$
-
$
-
$
8,457
Other consumer
Pass
20
-
-
-
-
-
8,850
-
8,870
Total Other
consumer
$
20
$
-
$
-
$
-
$
-
$
-
$
8,850
$
-
$
8,870
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
100
$
-
$
100
Total Popular U.S.
$
560,128
$
2,308,732
$
1,866,969
$
1,230,434
$
947,645
$
2,467,082
$
514,807
$
14,841
$
9,910,638
June 30, 2023
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2023
2022
2021
2020
2019
Prior
Years
Total
Popular, Inc.
Commercial:
Commercial multi-family
Watch
$
6,839
$
745
$
-
$
3,695
$
69,670
$
47,068
$
-
$
-
$
128,017
Special Mention
-
-
-
1,185
-
24,903
-
-
26,088
Substandard
-
-
-
-
14,820
13,787
100
-
28,707
Pass
95,242
660,616
395,597
255,895
233,310
504,521
3,506
-
2,148,687
Total commercial
multi-family
$
102,081
$
661,361
$
395,597
$
260,775
$
317,800
$
590,279
$
3,606
$
-
$
2,331,499
Commercial real estate non-owner occupied
Watch
$
1,335
$
5,809
$
18,073
$
14,322
$
26,057
$
127,071
$
-
$
-
$
192,667
Special Mention
-
-
25,284
19,630
67,681
121,766
5,000
-
239,361
Substandard
-
8,668
-
4,893
20,584
23,753
-
-
57,898
Pass
185,324
1,428,304
769,488
618,093
160,976
1,074,079
18,066
-
4,254,330
Total commercial
real estate non-
owner occupied
$
186,659
$
1,442,781
$
812,845
$
656,938
$
275,298
$
1,346,669
$
23,066
$
-
$
4,744,256
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
609
$
-
$
-
$
-
$
-
$
609
Commercial real estate owner occupied
Watch
$
1,012
$
11,183
$
4,421
$
9,893
$
3,819
$
116,567
$
700
$
-
$
147,595
Special Mention
-
8
2,374
146,968
7,175
60,341
12,515
-
229,381
Substandard
291
16,779
5,981
336
8,046
122,258
-
-
153,691
Doubtful
-
-
-
-
-
261
-
-
261
Pass
200,518
565,476
675,296
170,502
105,592
773,969
19,117
-
2,510,470
Total commercial
real estate owner
occupied
$
201,821
$
593,446
$
688,072
$
327,699
$
124,632
$
1,073,396
$
32,332
$
-
$
3,041,398
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
1
$
255
$
-
$
-
$
256
Commercial and industrial
Watch
$
10,638
$
31,416
$
7,590
$
3,479
$
19,946
$
83,086
$
78,483
$
-
$
234,638
Special Mention
11
2,581
4,767
21,346
1,173
49,313
5,140
-
84,331
Substandard
5,424
1,870
3,335
1,867
6,744
39,674
40,477
-
99,391
Doubtful
-
-
-
-
10
34
-
-
44
Loss
-
-
-
79
-
-
277
-
356
Pass
466,552
1,004,239
922,493
597,072
323,556
803,344
1,715,131
-
5,832,387
Total commercial
and industrial
$
482,625
$
1,040,106
$
938,185
$
623,843
$
351,429
$
975,451
$
1,839,508
$
-
$
6,251,147
Year-to-Date gross
write-offs
$
630
$
405
$
2,126
$
47
$
301
$
239
$
1,500
$
-
$
5,248
June 30, 2023
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2023
2022
2021
2020
2019
Prior
Years
Total
Popular, Inc.
Construction
Watch
$
-
$
27,279
$
14,187
$
-
$
6,839
$
3,000
$
18,267
$
-
$
69,572
Special Mention
-
-
-
-
-
34,080
-
-
34,080
Substandard
-
9,284
4,463
8,027
-
10,049
-
-
31,823
Pass
102,782
271,507
174,750
44,387
58,420
1,854
30,728
-
684,428
Total construction
$
102,782
$
308,070
$
193,400
$
52,414
$
65,259
$
48,983
$
48,995
$
-
$
819,903
Mortgage
Substandard
$
-
$
162
$
1,747
$
1,143
$
6,182
$
87,097
$
-
$
-
$
96,331
Pass
343,688
677,843
732,843
517,102
376,562
4,704,709
-
-
7,352,747
Total mortgage
$
343,688
$
678,005
$
734,590
$
518,245
$
382,744
$
4,791,806
$
-
$
-
$
7,449,078
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
1,143
$
-
$
-
$
1,143
Leasing
Substandard
$
-
$
1,189
$
1,156
$
520
$
1,259
$
588
$
-
$
-
$
4,712
Loss
-
-
-
-
-
32
-
-
32
Pass
355,425
561,334
370,204
200,199
115,159
54,458
-
-
1,656,779
Total leasing
$
355,425
$
562,523
$
371,360
$
200,719
$
116,418
$
55,078
$
-
$
-
$
1,661,523
Year-to-Date gross
write-offs
$
156
$
1,536
$
1,448
$
301
$
155
$
361
$
-
$
-
$
3,957
June 30, 2023
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2023
2022
2021
2020
2019
Prior
Years
Total
Popular, Inc.
Consumer:
Credit cards
Substandard
$
-
$
-
$
-
$
-
$
-
$
-
$
14,185
$
-
$
14,185
Pass
-
-
-
-
-
-
1,043,204
-
1,043,204
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,057,389
$
-
$
1,057,389
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
17,134
$
-
$
17,134
HELOCs
Substandard
$
-
$
-
$
-
$
-
$
-
$
2,006
$
19
$
1,087
$
3,112
Loss
-
-
-
-
-
99
-
1,040
1,139
Pass
-
-
-
-
-
8,191
43,284
12,714
64,189
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
10,296
$
43,303
$
14,841
$
68,440
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
195
$
68
$
-
$
263
Personal
Substandard
$
523
$
5,069
$
2,365
$
716
$
1,350
$
8,995
$
-
$
1,013
$
20,031
Loss
-
128
59
-
13
478
-
-
678
Pass
504,011
771,350
276,445
82,124
92,440
125,053
-
24,462
1,875,885
Total Personal
$
504,534
$
776,547
$
278,869
$
82,840
$
93,803
$
134,526
$
-
$
25,475
$
1,896,594
Year-to-Date gross
write-offs
$
149
$
18,154
$
11,660
$
2,885
$
3,330
$
1,763
$
-
$
697
$
38,638
Auto
Substandard
$
770
$
10,424
$
10,352
$
8,593
$
7,168
$
4,380
$
-
$
-
$
41,687
Loss
8
65
10
61
-
7
-
-
151
Pass
614,420
1,029,517
832,770
494,710
339,804
212,474
-
-
3,523,695
Total Auto
$
615,198
$
1,040,006
$
843,132
$
503,364
$
346,972
$
216,861
$
-
$
-
$
3,565,533
Year-to-Date gross
write-offs
$
697
$
9,990
$
5,443
$
2,579
$
1,508
$
-
$
-
$
-
$
20,217
Other consumer
Substandard
$
-
$
28
$
137
$
86
$
17
$
1,232
$
166
$
-
$
1,666
Loss
-
-
-
-
-
263
-
-
263
Pass
16,522
26,939
15,884
6,279
3,873
4,529
68,207
-
142,233
Total Other
consumer
$
16,522
$
26,967
$
16,021
$
6,365
$
3,890
$
6,024
$
68,373
$
-
$
144,162
Year-to-Date gross
write-offs
$
1
$
56
$
50
$
71
$
19
$
11,164
$
100
$
-
$
11,461
Total Popular Inc.
$
2,911,335
$
7,129,812
$
5,272,071
$
3,233,202
$
2,078,245
$
9,249,369
$
3,116,572
$
40,316
$
33,030,922
December 31, 2022
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2022
2021
2020
2019
2018
Prior
 
Years
Total
BPPR
Commercial:
Commercial multi-family
Watch
$
-
$
-
$
-
$
18,508
$
-
$
4,687
$
-
$
-
$
23,195
Special Mention
-
-
-
-
-
2,692
-
-
2,692
Substandard
-
-
-
-
-
3,326
100
-
3,426
Pass
137,411
22,850
20,821
16,145
24,640
30,193
-
-
252,060
Total commercial
multi-family
$
137,411
$
22,850
$
20,821
$
34,653
$
24,640
$
40,898
$
100
$
-
$
281,373
Commercial real estate non-owner occupied
Watch
$
173
$
36,228
$
14,045
$
14,942
$
7,777
$
99,269
$
-
$
-
$
172,434
Special Mention
-
4,361
19,970
7,517
-
25,540
-
-
57,388
Substandard
8,933
-
3,209
19,004
25,490
21,064
-
-
77,700
Pass
855,839
585,690
294,086
94,056
35,105
568,893
16,136
-
2,449,805
Total commercial
real estate non-
owner occupied
$
864,945
$
626,279
$
331,310
$
135,519
$
68,372
$
714,766
$
16,136
$
-
$
2,757,327
Commercial real estate owner occupied
Watch
$
2,296
$
5,271
$
9,447
$
4,275
$
31,649
$
71,568
$
-
$
-
$
124,506
Special Mention
10
284
1,684
6,578
1,076
61,460
-
-
71,092
Substandard
16,205
6,177
802
800
770
84,205
-
-
108,959
Doubtful
-
-
-
-
-
505
-
-
505
Pass
227,404
258,473
274,333
30,691
68,029
407,322
16,742
-
1,282,994
Total commercial
real estate owner
occupied
$
245,915
$
270,205
$
286,266
$
42,344
$
101,524
$
625,060
$
16,742
$
-
$
1,588,056
Commercial and industrial
Watch
$
32,376
$
2,185
$
15,493
$
18,829
$
15,483
$
51,602
$
56,508
$
-
$
192,476
Special Mention
2,537
2,479
5,770
1,139
6,767
46,040
6,283
-
71,015
Substandard
789
1,276
1,600
3,138
11,536
40,636
46,226
-
105,201
Doubtful
-
-
29
-
75
75
-
-
179
Loss
-
-
-
-
-
-
144
-
144
Pass
793,662
684,647
211,013
177,265
65,197
292,173
1,203,536
-
3,427,493
Total commercial
and industrial
$
829,364
$
690,587
$
233,905
$
200,371
$
99,058
$
430,526
$
1,312,697
$
-
$
3,796,508
Construction
Watch
$
35,446
$
3,116
$
98
$
-
$
-
$
-
$
141
$
-
$
38,801
Substandard
-
-
9,629
-
-
-
-
-
9,629
Pass
13,044
34,387
15,961
2,262
-
-
32,957
-
98,611
Total construction
$
48,490
$
37,503
$
25,688
$
2,262
$
-
$
-
$
33,098
$
-
$
147,041
Mortgage
Substandard
$
-
$
574
$
687
$
3,926
$
4,227
$
93,959
$
-
$
-
$
103,373
Pass
449,286
451,027
285,026
204,170
237,007
4,380,390
-
-
6,006,906
Total mortgage
$
449,286
$
451,601
$
285,713
$
208,096
$
241,234
$
4,474,349
$
-
$
-
$
6,110,279
Leasing
Substandard
$
953
$
1,491
$
941
$
1,172
$
1,127
$
215
$
-
$
-
$
5,899
Loss
-
-
-
21
-
21
-
-
42
Pass
672,294
428,889
237,939
146,231
79,451
14,994
-
-
1,579,798
Total leasing
$
673,247
$
430,380
$
238,880
$
147,424
$
80,578
$
15,230
$
-
$
-
$
1,585,739
December 31, 2022
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2022
2021
2020
2019
2018
Prior
 
Years
Total
BPPR
Consumer:
Credit cards
Substandard
$
-
$
-
$
-
$
-
$
-
$
-
$
11,907
$
-
$
11,907
Loss
-
-
-
-
-
-
3
-
3
Pass
-
-
-
-
-
-
1,029,921
-
1,029,921
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,041,831
$
-
$
1,041,831
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
2,954
$
-
$
2,954
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
-
$
2,954
$
-
$
2,954
Personal
Substandard
$
1,330
$
2,001
$
764
$
1,774
$
503
$
10,831
$
-
$
1,285
$
18,488
Loss
-
-
53
20
31
10
-
1
115
Pass
841,564
320,809
103,337
117,568
46,555
109,543
-
27,708
1,567,084
Total Personal
$
842,894
$
322,810
$
104,154
$
119,362
$
47,089
$
120,384
$
-
$
28,994
$
1,585,687
Auto
Substandard
$
6,764
$
11,171
$
10,466
$
10,243
$
4,597
$
2,382
$
-
$
-
$
45,623
Loss
23
41
48
25
7
14
-
-
158
Pass
1,156,654
961,571
588,200
426,169
248,328
85,827
-
-
3,466,749
Total Auto
$
1,163,441
$
972,783
$
598,714
$
436,437
$
252,932
$
88,223
$
-
$
-
$
3,512,530
Other consumer
Substandard
$
-
$
-
$
100
$
593
$
543
$
242
$
10,902
$
-
$
12,380
Loss
-
-
-
-
263
40
-
-
303
Pass
29,557
17,439
6,967
4,201
4,553
1,942
60,238
-
124,897
Total Other
consumer
$
29,557
$
17,439
$
7,067
$
4,794
$
5,359
$
2,224
$
71,140
$
-
$
137,580
Total BPPR
$
5,284,550
$
3,842,437
$
2,132,518
$
1,331,262
$
920,786
$
6,511,660
$
2,494,698
$
28,994
$
22,546,905
December 31, 2022
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2022
2021
2020
2019
2018
Prior
Years
Total
Popular U.S.
Commercial:
Commercial multi-family
Watch
$
750
$
917
$
6,218
$
85,579
$
9,633
$
52,835
$
-
$
-
$
155,932
Special Mention
-
-
1,198
-
14,491
8,372
-
-
24,061
Substandard
-
-
-
9,305
7,373
2,941
-
-
19,619
Pass
503,010
399,397
238,903
210,295
138,723
347,615
2,785
-
1,840,728
Total commercial
multi-family
$
503,760
$
400,314
$
246,319
$
305,179
$
170,220
$
411,763
$
2,785
$
-
$
2,040,340
Commercial real estate non-owner occupied
Watch
$
-
$
2,167
$
13,622
$
3,355
$
26,931
$
29,849
$
-
$
-
$
75,924
Special Mention
-
-
-
1,353
-
75,269
-
-
76,622
Substandard
-
2,864
2,149
3,220
1,429
4,722
-
-
14,384
Pass
552,258
209,338
211,449
109,781
100,065
383,409
9,113
-
1,575,413
Total commercial
real estate non-
owner occupied
$
552,258
$
214,369
$
227,220
$
117,709
$
128,425
$
493,249
$
9,113
$
-
$
1,742,343
Commercial real estate owner occupied
Watch
$
-
$
-
$
1,197
$
1,079
$
6,095
$
55,005
$
-
$
-
$
63,376
Special Mention
-
-
3,886
-
-
901
-
-
4,787
Substandard
-
-
-
7,403
11,165
33,586
-
-
52,154
Pass
363,655
422,959
114,988
82,971
119,565
258,881
7,157
-
1,370,176
Total commercial
real estate owner
occupied
$
363,655
$
422,959
$
120,071
$
91,453
$
136,825
$
348,373
$
7,157
$
-
$
1,490,493
Commercial and industrial
Watch
$
12,328
$
2,218
$
2,022
$
2,049
$
8,438
$
532
$
4,291
$
-
$
31,878
Special Mention
1,262
1,130
314
244
60
-
3
-
3,013
Substandard
260
935
74
4,278
315
1,829
1,408
-
9,099
Loss
292
525
1
75
192
3
-
-
1,088
Pass
185,318
341,855
368,398
202,301
171,528
376,045
352,169
-
1,997,614
Total commercial
and industrial
$
199,460
$
346,663
$
370,809
$
208,947
$
180,533
$
378,409
$
357,871
$
-
$
2,042,692
Construction
Watch
$
-
$
12,085
$
-
$
6,979
$
18,310
$
34,126
$
-
$
-
$
71,500
Special Mention
-
3
-
-
-
-
-
-
3
Substandard
-
-
1,423
-
6,540
2,095
-
-
10,058
Pass
164,272
146,062
91,486
93,118
10,863
23,581
-
-
529,382
Total construction
$
164,272
$
158,150
$
92,909
$
100,097
$
35,713
$
59,802
$
-
$
-
$
610,943
Mortgage
Substandard
$
-
$
2,009
$
3,478
$
4,048
$
1,156
$
9,798
$
-
$
-
$
20,489
Pass
236,595
303,204
243,468
183,846
58,026
241,564
-
-
1,266,703
Total mortgage
$
236,595
$
305,213
$
246,946
$
187,894
$
59,182
$
251,362
$
-
$
-
$
1,287,192
December 31, 2022
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2022
2021
2020
2019
2018
Prior
Years
Total
Popular U.S.
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
39
$
-
$
39
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
39
$
-
$
39
HELOCs
Substandard
$
-
$
-
$
-
$
-
$
-
$
2,146
$
20
$
1,402
$
3,568
Loss
-
-
-
-
-
4
-
538
542
Pass
-
-
-
-
-
9,169
41,724
13,959
64,852
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
11,319
$
41,744
$
15,899
$
68,962
Personal
Substandard
$
621
$
454
$
149
$
238
$
70
$
6
$
-
$
-
$
1,538
Loss
-
-
-
-
-
421
-
-
421
Pass
165,153
46,320
7,339
13,443
2,021
1,657
-
-
235,933
Total Personal
$
165,774
$
46,774
$
7,488
$
13,681
$
2,091
$
2,084
$
-
$
-
$
237,892
Other consumer
Substandard
$
-
$
-
$
-
$
-
$
-
$
-
$
8
$
-
$
8
Pass
-
-
-
-
-
-
9,960
-
9,960
Total Other
consumer
$
-
$
-
$
-
$
-
$
-
$
-
$
9,968
$
-
$
9,968
Total Popular U.S.
$
2,185,774
$
1,894,442
$
1,311,762
$
1,024,960
$
712,989
$
1,956,361
$
428,677
$
15,899
$
9,530,864
December 31, 2022
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2022
2021
2020
2019
2018
Prior
Years
Total
Popular, Inc.
Commercial:
Commercial multi-family
Watch
$
750
$
917
$
6,218
$
104,087
$
9,633
$
57,522
$
-
$
-
$
179,127
Special Mention
-
-
1,198
-
14,491
11,064
-
-
26,753
Substandard
-
-
-
9,305
7,373
6,267
100
-
23,045
Pass
640,421
422,247
259,724
226,440
163,363
377,808
2,785
-
2,092,788
Total commercial
multi-family
$
641,171
$
423,164
$
267,140
$
339,832
$
194,860
$
452,661
$
2,885
$
-
$
2,321,713
Commercial real estate non-owner occupied
Watch
$
173
$
38,395
$
27,667
$
18,297
$
34,708
$
129,118
$
-
$
-
$
248,358
Special Mention
-
4,361
19,970
8,870
-
100,809
-
-
134,010
Substandard
8,933
2,864
5,358
22,224
26,919
25,786
-
-
92,084
Pass
1,408,097
795,028
505,535
203,837
135,170
952,302
25,249
-
4,025,218
Total commercial
real estate non-
owner occupied
$
1,417,203
$
840,648
$
558,530
$
253,228
$
196,797
$
1,208,015
$
25,249
$
-
$
4,499,670
Commercial real estate owner occupied
Watch
$
2,296
$
5,271
$
10,644
$
5,354
$
37,744
$
126,573
$
-
$
-
$
187,882
Special Mention
10
284
5,570
6,578
1,076
62,361
-
-
75,879
Substandard
16,205
6,177
802
8,203
11,935
117,791
-
-
161,113
Doubtful
-
-
-
-
-
505
-
-
505
Pass
591,059
681,432
389,321
113,662
187,594
666,203
23,899
-
2,653,170
Total commercial
real estate owner
occupied
$
609,570
$
693,164
$
406,337
$
133,797
$
238,349
$
973,433
$
23,899
$
-
$
3,078,549
Commercial and industrial
Watch
$
44,704
$
4,403
$
17,515
$
20,878
$
23,921
$
52,134
$
60,799
$
-
$
224,354
Special Mention
3,799
3,609
6,084
1,383
6,827
46,040
6,286
-
74,028
Substandard
1,049
2,211
1,674
7,416
11,851
42,465
47,634
-
114,300
Doubtful
-
-
29
-
75
75
-
-
179
Loss
292
525
1
75
192
3
144
-
1,232
Pass
978,980
1,026,502
579,411
379,566
236,725
668,218
1,555,705
-
5,425,107
Total commercial
and industrial
$
1,028,824
$
1,037,250
$
604,714
$
409,318
$
279,591
$
808,935
$
1,670,568
$
-
$
5,839,200
December 31, 2022
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2022
2021
2020
2019
2018
Prior
Years
Total
Popular, Inc.
Construction
Watch
$
35,446
$
15,201
$
98
$
6,979
$
18,310
$
34,126
$
141
$
-
$
110,301
Special Mention
-
3
-
-
-
-
-
-
3
Substandard
-
-
11,052
-
6,540
2,095
-
-
19,687
Pass
177,316
180,449
107,447
95,380
10,863
23,581
32,957
-
627,993
Total construction
$
212,762
$
195,653
$
118,597
$
102,359
$
35,713
$
59,802
$
33,098
$
-
$
757,984
Mortgage
Substandard
$
-
$
2,583
$
4,165
$
7,974
$
5,383
$
103,757
$
-
$
-
$
123,862
Pass
685,881
754,231
528,494
388,016
295,033
4,621,954
-
-
7,273,609
Total mortgage
$
685,881
$
756,814
$
532,659
$
395,990
$
300,416
$
4,725,711
$
-
$
-
$
7,397,471
Leasing
Substandard
$
953
$
1,491
$
941
$
1,172
$
1,127
$
215
$
-
$
-
$
5,899
Loss
-
-
-
21
-
21
-
-
42
Pass
672,294
428,889
237,939
146,231
79,451
14,994
-
-
1,579,798
Total leasing
$
673,247
$
430,380
$
238,880
$
147,424
$
80,578
$
15,230
$
-
$
-
$
1,585,739
December 31, 2022
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2022
2021
2020
2019
2018
Prior
Years
Total
Popular, Inc.
Consumer:
Credit cards
Substandard
$
-
$
-
$
-
$
-
$
-
$
-
$
11,907
$
-
$
11,907
Loss
-
-
-
-
-
-
3
-
3
Pass
-
-
-
-
-
-
1,029,960
-
1,029,960
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,041,870
$
-
$
1,041,870
HELOCs
Substandard
$
-
$
-
$
-
$
-
$
-
$
2,146
$
20
$
1,402
$
3,568
Loss
-
-
-
-
-
4
-
538
542
Pass
-
-
-
-
-
9,169
44,678
13,959
67,806
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
11,319
$
44,698
$
15,899
$
71,916
Personal
Substandard
$
1,951
$
2,455
$
913
$
2,012
$
573
$
10,837
$
-
$
1,285
$
20,026
Loss
-
-
53
20
31
431
-
1
536
Pass
1,006,717
367,129
110,676
131,011
48,576
111,200
-
27,708
1,803,017
Total Personal
$
1,008,668
$
369,584
$
111,642
$
133,043
$
49,180
$
122,468
$
-
$
28,994
$
1,823,579
Auto
Substandard
$
6,764
$
11,171
$
10,466
$
10,243
$
4,597
$
2,382
$
-
$
-
$
45,623
Loss
23
41
48
25
7
14
-
-
158
Pass
1,156,654
961,571
588,200
426,169
248,328
85,827
-
-
3,466,749
Total Auto
$
1,163,441
$
972,783
$
598,714
$
436,437
$
252,932
$
88,223
$
-
$
-
$
3,512,530
Other consumer
Substandard
$
-
$
-
$
100
$
593
$
543
$
242
$
10,910
$
-
$
12,388
Loss
-
-
-
-
263
40
-
-
303
Pass
29,557
17,439
6,967
4,201
4,553
1,942
70,198
-
134,857
Total Other
consumer
$
29,557
$
17,439
$
7,067
$
4,794
$
5,359
$
2,224
$
81,108
$
-
$
147,548
Total Popular Inc.
$
7,470,324
$
5,736,879
$
3,444,280
$
2,356,222
$
1,633,775
$
8,468,021
$
2,923,375
$
44,893
$
32,077,769