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Allowance for credit losses - loans held-in-portfolio
 12 Months Ended
Dec. 31, 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 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.
 
As part of
 
the Corporation’s model
 
governance procedures, a new
 
model was implemented
 
during the third
 
quarter of 2023
 
for the
U.S commercial real estate segment.
 
The new model enhances techniques
 
used to capture default
 
activity within the Corporation’s
geographical footprint. As part of the implementation
 
analysis management evaluated the credit metrics of
 
the portfolio such as risk
ratings,
 
delinquency levels,
 
and
 
low exposure
 
to
 
the commercial
 
office
 
sector.
 
Qualitative reserves
 
continue to
 
be maintained
 
to
address
 
risks
 
within
 
the
 
U.
 
S.
 
commercial
 
real
 
estate
 
segment.
 
The
 
new
 
model
 
including
 
qualitative
 
reserve
 
accounted for
 
$
15
million of PB’s reduction in ACL during the third quarter
 
of 2023.
At
 
December
 
31,2023,
 
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. 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.
 
During the
 
third
 
quarter
 
of
 
2022,
 
as
 
part
 
of
 
its
 
evaluation
 
procedures, the
 
Corporation decided
 
to
 
extend
 
the
reversion
 
window
 
from
 
1
 
year
 
to
 
3
 
years.
 
The
 
extension
 
in
 
the
 
reversion
 
window
 
results
 
in
 
a
 
better
 
representation
 
of
 
historical
movements for key
 
macroeconomic variables that
 
impact the ACL.
 
The reasonable and
 
supportable period assumptions
 
remained
unchanged at 2 years.
The baseline
 
scenario assumes
 
a 2024
 
annualized GDP
 
growth for
 
Puerto Rico
 
and the
 
United States
 
of 1.21%
 
and 1.65%.
 
For
2023, annualized
 
expected growth
 
was 2.0%
 
and 2.4%
 
for Puerto
 
Rico and
 
United States,
 
respectively.
 
The reduction
 
in 2024
 
is
due to the Fed’s monetary policy.
 
The 2024 average unemployment rate is forecasted at 6.79% and 3.95% for Puerto Rico and United States, respectively, compared
to 2023 average level 6.1% for Puerto Rico
 
and 3.7% for the United States.
The
 
following
 
tables
 
present
 
the
 
changes
 
in
 
the
 
ACL
 
of
 
loans
 
held-in-portfolio
 
and
 
unfunded
 
commitments
 
for
 
the
 
years
 
ended
December 31, 2023 and 2022.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the year ended December 31, 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
$
-
$
(1,597)
$
-
$
-
$
1
$
-
$
3,614
Commercial real estate non-owner occupied
52,475
-
980
-
(1,130)
1,429
-
53,754
Commercial real estate owner occupied
48,393
(1,161)
(5,495)
-
(4,437)
3,337
-
40,637
Commercial and industrial
68,217
(552)
29,911
-
(7,739)
17,740
-
107,577
Total Commercial
174,295
(1,713)
23,799
-
(13,306)
22,507
-
205,582
Construction
2,978
-
4,926
-
(2,611)
1
-
5,294
Mortgage
117,344
(33,556)
(25,295)
89
(1,638)
15,496
-
72,440
Leasing
20,618
(35)
(3,836)
-
(10,879)
3,840
-
9,708
Consumer
 
Credit cards
58,670
-
54,649
-
(41,007)
8,776
(601)
80,487
 
Home equity lines of credit
103
-
(155)
-
(213)
368
-
103
 
Personal
96,369
(7,020)
74,226
-
(71,977)
9,583
-
101,181
 
Auto
129,735
(21)
63,185
-
(55,306)
20,338
-
157,931
 
Other
15,433
-
3,335
-
(12,454)
818
-
7,132
Total Consumer
300,310
(7,041)
195,240
-
(180,957)
39,883
(601)
346,834
Total - Loans
$
615,545
$
(42,345)
$
194,834
$
89
$
(209,391)
$
81,727
$
(601)
$
639,858
Allowance for credit losses - unfunded commitments:
Commercial
$
4,336
$
-
$
726
$
-
$
-
$
-
$
-
$
5,062
Construction
2,022
-
(404)
-
-
-
-
1,618
Ending balance - unfunded commitments [1]
$
6,358
$
-
$
322
$
-
$
-
$
-
$
-
$
6,680
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the year ended December 31, 2023
Popular U.S.
Impact of
Provision for
 
Beginning
Adopting
credit losses -
Ending
(In thousands)
Balance
ASU 2022-02
(benefit)
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
21,101
$
-
$
(10,980)
$
-
$
5
$
10,126
Commercial real estate non-owner occupied
19,065
-
(9,222)
(193)
2,049
11,699
Commercial real estate owner occupied
8,688
-
8,851
(1,395)
83
16,227
Commercial and industrial
12,227
-
4,557
(3,875)
1,870
14,779
Total Commercial
61,081
-
(6,794)
(5,463)
4,007
52,831
Construction
1,268
-
6,124
-
-
7,392
Mortgage
17,910
(2,098)
(5,248)
-
210
10,774
Consumer
 
Credit cards
-
-
1
(1)
-
-
 
Home equity lines of credit
2,439
-
(1,058)
(471)
965
1,875
 
Personal
22,057
(1,140)
13,521
(19,971)
2,142
16,609
 
Other
2
-
159
(171)
12
2
Total Consumer
24,498
(1,140)
12,623
(20,614)
3,119
18,486
Total - Loans
$
104,757
$
(3,238)
$
6,705
$
(26,077)
$
7,336
$
89,483
Allowance for credit losses - unfunded commitments:
Commercial
$
1,175
$
-
$
676
$
-
$
-
$
1,851
Construction
1,184
-
7,262
-
-
8,446
Consumer
88
-
(59)
-
-
29
Ending balance - unfunded commitments [1]
$
2,447
$
-
$
7,879
$
-
$
-
$
10,326
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the year ended December 31, 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
$
-
$
(12,577)
$
-
$
-
$
6
$
-
$
13,740
Commercial real estate non-owner occupied
71,540
-
(8,242)
-
(1,323)
3,478
-
65,453
Commercial real estate owner occupied
57,081
(1,161)
3,356
-
(5,832)
3,420
-
56,864
Commercial and industrial
80,444
(552)
34,468
-
(11,614)
19,610
-
122,356
Total Commercial
235,376
(1,713)
17,005
-
(18,769)
26,514
-
258,413
Construction
4,246
-
11,050
-
(2,611)
1
-
12,686
Mortgage
135,254
(35,654)
(30,543)
89
(1,638)
15,706
-
83,214
Leasing
20,618
(35)
(3,836)
-
(10,879)
3,840
-
9,708
Consumer
 
Credit cards
58,670
-
54,650
-
(41,008)
8,776
(601)
80,487
 
Home equity lines of credit
2,542
-
(1,213)
-
(684)
1,333
-
1,978
 
Personal
118,426
(8,160)
87,747
-
(91,948)
11,725
-
117,790
 
Auto
129,735
(21)
63,185
-
(55,306)
20,338
-
157,931
 
Other
15,435
-
3,494
-
(12,625)
830
-
7,134
Total Consumer
324,808
(8,181)
207,863
-
(201,571)
43,002
(601)
365,320
Total - Loans
$
720,302
$
(45,583)
$
201,539
$
89
$
(235,468)
$
89,063
$
(601)
$
729,341
Allowance for credit losses - unfunded commitments:
Commercial
$
5,511
$
-
$
1,402
$
-
$
-
$
-
$
-
$
6,913
Construction
3,206
-
6,858
-
-
-
-
10,064
Consumer
88
-
(59)
-
-
-
-
29
Ending balance - unfunded commitments [1]
$
8,805
$
-
$
8,201
$
-
$
-
$
-
$
-
$
17,006
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the year ended December 31, 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
$
2,160
$
-
$
-
$
-
$
5,210
Commercial real estate non-owner occupied
45,211
5,744
-
(34)
1,554
52,475
Commercial real estate owner occupied
54,176
(12,405)
-
(1,063)
7,685
48,393
Commercial and industrial
49,491
15,976
-
(6,141)
8,891
68,217
Total Commercial
151,928
11,475
-
(7,238)
18,130
174,295
Construction
1,641
526
-
-
811
2,978
Mortgage
138,286
(37,600)
915
(5,105)
20,848
117,344
Leasing
17,578
6,832
-
(7,107)
3,315
20,618
Consumer
 
Credit cards
43,499
32,582
-
(26,210)
8,799
58,670
 
Home equity lines of credit
98
(273)
-
(191)
469
103
 
Personal
71,022
54,279
-
(36,179)
7,247
96,369
 
Auto
154,498
843
-
(42,143)
16,537
129,735
 
Other
15,612
880
-
(2,029)
970
15,433
Total Consumer
284,729
88,311
-
(106,752)
34,022
300,310
Total - Loans
$
594,162
$
69,544
$
915
$
(126,202)
$
77,126
$
615,545
Allowance for credit losses - unfunded commitments:
Commercial
$
1,751
$
2,585
$
-
$
-
$
-
$
4,336
Construction
2,388
(366)
-
-
-
2,022
Ending balance - unfunded commitments [1]
$
4,139
$
2,219
$
-
$
-
$
-
$
6,358
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the year ended December 31, 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
$
(4,338)
$
-
$
21
$
21,101
Commercial real estate non-owner occupied
22,246
5,468
(8,671)
22
19,065
Commercial real estate owner occupied
6,053
2,276
(6)
365
8,688
Commercial and industrial
10,160
1,191
(1,335)
2,211
12,227
Total Commercial
63,877
4,597
(10,012)
2,619
61,081
Construction
4,722
(4,586)
-
1,132
1,268
Mortgage
16,192
1,706
(68)
80
17,910
Consumer
 
Credit cards
-
(13)
-
13
-
 
Home equity lines of credit
3,708
(3,713)
(430)
2,874
2,439
 
Personal
12,700
15,619
(7,404)
1,142
22,057
 
Other
5
153
(202)
46
2
Total Consumer
16,413
12,046
(8,036)
4,075
24,498
Total - Loans
$
101,204
$
13,763
$
(18,116)
$
7,906
$
104,757
Allowance for credit losses - unfunded commitments:
Commercial
$
1,384
$
(209)
$
-
$
-
$
1,175
Construction
2,337
(1,153)
-
-
1,184
Consumer
37
51
-
-
88
Ending balance - unfunded commitments [1]
$
3,758
$
(1,311)
$
-
$
-
$
2,447
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the year ended December 31, 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
$
(2,178)
$
-
$
-
$
21
$
26,311
Commercial real estate non-owner occupied
67,457
11,212
-
(8,705)
1,576
71,540
Commercial real estate owner occupied
60,229
(10,129)
-
(1,069)
8,050
57,081
Commercial and industrial
59,651
17,167
-
(7,476)
11,102
80,444
Total Commercial
215,805
16,072
-
(17,250)
20,749
235,376
Construction
6,363
(4,060)
-
-
1,943
4,246
Mortgage
154,478
(35,894)
915
(5,173)
20,928
135,254
Leasing
17,578
6,832
-
(7,107)
3,315
20,618
Consumer
 
Credit cards
43,499
32,569
-
(26,210)
8,812
58,670
 
Home equity lines of credit
3,806
(3,986)
-
(621)
3,343
2,542
 
Personal
83,722
69,898
-
(43,583)
8,389
118,426
 
Auto
154,498
843
-
(42,143)
16,537
129,735
 
Other
15,617
1,033
-
(2,231)
1,016
15,435
Total Consumer
301,142
100,357
-
(114,788)
38,097
324,808
Total - Loans
$
695,366
$
83,307
$
915
$
(144,318)
$
85,032
$
720,302
Allowance for credit losses - unfunded commitments:
Commercial
$
3,135
$
2,376
$
-
$
-
$
-
$
5,511
Construction
4,725
(1,519)
-
-
-
3,206
Consumer
37
51
-
-
-
88
Ending balance - unfunded commitments [1]
$
7,897
$
908
$
-
$
-
$
-
$
8,805
[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 with financial difficulties owing receivables whose terms
have been modified during the year ended December 31, 2023 amounted to $
21
 
million related to the commercial
 
and construction
loan portfolios.
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 year
 
ended December
31,2023. 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 year ended December 31,2023
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
CRE owner occupied
$
141,291
10.10
%
$
-
-
%
$
141,291
4.59
%
Commercial and industrial
70
-
%
-
-
%
70
-
%
Mortgage
301
-
%
-
-
%
301
-
%
Consumer:
 
Credit cards
700
0.06
%
-
-
%
700
0.06
%
 
Personal
783
0.04
%
2
-
%
785
0.04
%
 
Other
6
-
%
-
-
%
6
-
%
Total
$
143,151
0.58
%
$
2
-
%
$
143,153
0.41
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
CRE non-owner occupied
$
33,318
1.11
%
$
-
-
%
$
33,318
0.65
%
CRE owner occupied
4,921
0.35
%
60,669
3.61
%
65,590
2.13
%
Commercial and industrial
39,445
0.82
%
250
0.01
%
39,695
0.56
%
Construction
-
-
%
5,990
0.76
%
5,990
0.62
%
Mortgage
53,447
0.84
%
5,450
0.42
%
58,897
0.77
%
Consumer:
 
Personal
413
0.02
%
129
0.08
%
542
0.03
%
 
Auto
91
-
%
-
-
%
91
-
%
Total
$
131,635
0.54
%
$
72,488
0.69
%
$
204,123
0.58
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
CRE non-owner occupied
$
1,854
0.06
%
$
-
-
%
$
1,854
0.04
%
CRE owner occupied
16,068
1.15
%
13,468
0.80
%
29,536
0.96
%
Commercial and industrial
10,545
0.22
%
814
0.03
%
11,359
0.16
%
Mortgage
137
-
%
-
-
%
137
-
%
Total
$
28,604
0.12
%
$
14,282
0.14
%
$
42,886
0.12
%
Combination - Term extension
 
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Commercial multi-family
$
65
0.02
%
$
-
-
%
$
65
-
%
CRE non-owner occupied
19,983
0.66
%
$
-
-
%
19,983
0.39
%
CRE owner occupied
14,416
1.03
%
-
-
%
14,416
0.47
%
Commercial and industrial
335
0.01
%
-
-
%
335
-
%
Mortgage
37,179
0.58
%
405
0.03
%
37,584
0.49
%
Consumer:
 
Personal
2,318
0.13
%
62
0.04
%
2,380
0.12
%
 
Auto
27
-
%
-
-
%
27
-
%
Total
$
74,323
0.30
%
$
467
-
%
$
74,790
0.21
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Combination - Other-Than-Insignificant Payment Delays
 
and Interest Rate Reduction
Puerto Rico
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
CRE non-owner occupied
$
180
0.01
%
$
-
-
%
$
180
-
%
Commercial and industrial
199
-
%
-
-
%
199
-
%
Consumer:
 
Credit cards
814
0.07
%
-
-
%
814
0.07
%
Total
$
1,193
-
%
$
-
-
%
$
1,193
-
%
Combination - Other-Than-Insignificant Payment Delays
 
and Principal Forgiveness
Puerto Rico
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
Amortized Cost
Basis at
December
31,2023
% of total class of
Financing
Receivable
CRE owner occupied
$
158
0.01
%
$
-
-
%
$
158
0.01
%
Total
$
158
-
%
$
-
-
%
$
158
-
%
The following table describes the financial effect of the
 
modifications made to borrowers experiencing
 
financial difficulties:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the year ended December 31, 2023
Interest rate reduction
Loan Type
Financial Effect
Commercial multi-family
Reduced weighted-average contractual interest rate from
7.5
% to
5.3
%.
CRE non-owner occupied
Reduced weighted-average contractual interest rate from
9.1
% to
7.3
%.
CRE owner occupied
Reduced weighted-average contractual interest rate from
8.4
% to
6.6
%.
Commercial and industrial
Reduced weighted-average contractual interest rate from
17.8
% to
7.8
%.
Mortgage
Reduced weighted-average contractual interest rate from
5.8
% to
4.2
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
18.8
% to
4.5
%.
Personal
Reduced weighted-average contractual interest rate from
17.8
% to
9.3
%.
Auto
Reduced weighted-average contractual interest rate from
12.64
% to
12.62
%.
Other
Reduced weighted-average contractual interest rate from
18
.0% to 0.0%.
Term extension
Loan Type
Financial Effect
Commercial multi-family
Added a weighted-average of
43
 
years to the life of loans.
CRE non-owner occupied
Added a weighted-average of
20
 
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
2
 
years to the life of loans.
Construction
Added a weighted-average of
1
 
year 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
8
 
years to the life of loans.
Auto
Added a weighted-average of
2
 
years to the life of loans.
Principal forgiveness
Loan Type
Financial Effect
CRE owner occupied
Reduced the amortized cost basis of the loans by $
88
 
thousand.
Other than insignificant payment delay
Loan Type
Financial Effect
CRE non-owner occupied
Added a weighted-average of
11
 
months to the life of loans.
CRE owner occupied
Added a weighted-average of
9
 
months to the life of loans.
Commercial and industrial
Added a weighted-average of
7
 
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
25
 
months to the life of loans.
The
 
following table
 
presents,
 
by class,
 
the
 
performance of
 
loans
 
that
 
have
 
been
 
modified
 
during the
 
year
 
ended
 
December 31,
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
 
December 31, 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
Commercial multi-family
$
-
$
-
$
65
$
65
$
-
$
65
$
-
$
65
CRE non-owner occupied
-
-
2,094
2,094
53,241
55,335
-
2,094
CRE owner occupied
339
-
2,267
2,606
174,248
176,854
-
2,267
Commercial and industrial
2,519
77
14,881
17,477
33,117
50,594
556
14,325
Mortgage
7,520
3,358
28,128
39,006
52,058
91,064
8,319
19,809
Consumer:
 
Credit cards
59
51
294
404
1,110
1,514
176
118
 
Personal
140
-
817
957
2,557
3,514
63
754
 
Auto
-
-
15
15
103
118
-
15
 
Other
-
-
-
-
6
6
-
-
Total
$
10,577
$
3,486
$
48,561
$
62,624
$
316,440
$
379,064
$
9,114
$
39,447
[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.
 
December 31, 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
$
-
$
-
$
-
$
-
$
74,137
$
74,137
$
-
$
-
Commercial and industrial
-
250
-
250
814
1,064
-
-
Construction
-
-
-
-
5,990
5,990
-
-
Mortgage
-
-
388
388
5,467
5,855
-
388
Consumer:
 
Personal
-
-
125
125
68
193
-
125
Total
$
-
$
250
$
513
$
763
$
86,476
$
87,239
$
-
$
513
[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.
 
December 31, 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
Commercial multi-family
$
-
$
-
$
65
$
65
$
-
$
65
$
-
$
65
CRE non-owner occupied
-
-
2,094
2,094
53,241
55,335
-
2,094
CRE owner occupied
339
-
2,267
2,606
248,385
250,991
-
2,267
Commercial and industrial
2,519
327
14,881
17,727
33,931
51,658
556
14,325
Construction
-
-
-
-
5,990
5,990
-
-
Mortgage
7,520
3,358
28,516
39,394
57,525
96,919
8,319
20,197
Consumer:
 
Credit cards
59
51
294
404
1,110
1,514
176
118
 
Personal
140
-
942
1,082
2,625
3,707
63
879
 
Auto
-
-
15
15
103
118
-
15
 
Other
-
-
-
-
6
6
-
-
Total
$
10,577
$
3,736
$
49,074
$
63,387
$
402,916
$
466,303
$
9,114
$
39,960
[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.
Payment
 
default
 
is
 
defined
 
as
 
a
 
restructured
 
loan
 
becoming
 
90
 
days
 
past
 
due
 
after
 
being
 
modified,
 
foreclosed
 
or
 
charged-off,
whichever occurs first.
 
During the
 
year ended
 
December 31, 2023,
 
the outstanding
 
balance of loans
 
modified for
 
borrowers under
financial difficulties that were subject to payment default
 
during the year ended preceding the default
 
date was $
10
 
million.
For the
 
year ended
 
December 31,
 
2023, extension
 
of maturity
 
and the
 
combination of
 
reduction of
 
interest rate
 
and extension
 
of
maturity
 
amounted
 
to
 
$
8
 
million
 
and
 
$
2
 
million,
 
respectively,
 
of
 
the
 
outstanding
 
balance
 
of
 
loans
 
modified
 
for
 
borrowers
 
under
financial difficulties that were subject to payment default
 
during the year preceding the default date.
 
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
 
receivables whose
 
terms have
 
been modified
 
in
 
TDRs amounted
 
to
 
$
12
million related to the commercial and construction
 
loan portfolios 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
 
year
 
ended
December 31, 2022. Loans modified as TDRs for the
 
U.S. operations are considered insignificant
 
to the Corporation.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Popular Inc.
For the year ended December 31, 2022
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
-
2
2
4
Commercial real estate owner occupied
3
10
1
14
Commercial and industrial
4
9
1
16
Mortgage
7
217
881
5
Leasing
-
2
1
34
Consumer:
 
Credit cards
48
-
-
48
 
HELOCs
-
-
1
-
 
Personal
111
111
3
40
 
Auto
-
1
-
129
 
Other
1
-
-
-
Total
174
352
890
290
The following table presents, by class, quantitative
 
information related to loans modified as TDRs
 
during
 
year ended December 31,
2022.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Popular, Inc.
 
For the year ended December 31, 2022
(Dollars 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
8
$
6,530
$
6,527
$
60
Commercial real estate owner occupied
28
19,192
19,165
(2,078)
Commercial and industrial
30
51,139
50,929
2,120
Mortgage
1,110
128,581
125,875
4,447
Leasing
37
1,181
1,180
13
Consumer:
 
Credit cards
96
866
898
10
 
HELOCs
1
245
236
67
 
Personal
265
3,581
3,479
671
 
Auto
130
1,631
1,631
5
 
Other
1
8
8
1
Total
1,706
$
212,954
$
209,928
$
5,316
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 year ended December 31, 2022
(Dollars in thousands)
Loan count
Recorded investment as of first default date
Commercial real estate owner occupied
2
 
$
620
Commercial and industrial
7
 
6,639
Mortgage
75
 
9,391
Leasing
1
 
5
Consumer:
 
Credit cards
29
 
249
 
Personal
49
 
918
Total
163
 
$
17,822
 
 
Commercial,
 
consumer
 
and
 
mortgage
 
loans
 
modified
 
in
 
a
 
TDR
 
are
 
closely
 
monitored
 
for
 
delinquency
 
as
 
an
 
early
 
indicator
 
of
possible future default.
 
If loans modified in a TDR
 
subsequently default, the allowance for credit losses
 
may be increased or partial
charge-offs may be taken to further write-down the carrying
 
value of the loan.
Credit Quality
The
 
Corporation
 
has
 
defined
 
a
 
risk
 
rating
 
system
 
to
 
assign
 
a
 
rating
 
to
 
all
 
credit
 
exposures,
 
particularly
 
for
 
the
 
commercial
 
and
construction loan
 
portfolios. Risk
 
ratings in
 
the aggregate
 
provide the
 
Corporation’s management
 
the asset
 
quality profile
 
for
 
the
loan portfolio. 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 Corporation’s obligor risk rating scales range from rating 1 (Excellent) to rating 14 (Loss). The obligor risk rating reflects the risk
of payment default of a borrower in the ordinary
 
course of business.
 
Pass Credit Classifications:
Pass (Scales 1 through 8)
 
– Loans classified as
 
pass have a well defined
 
primary source of repayment, with no
 
apparent
risk, strong financial position, minimal operating risk, profitability, liquidity and strong
 
capitalization.
 
Watch
 
(Scale 9)
 
– Loans
 
classified as
 
watch have
 
acceptable business
 
credit,
 
but borrower’s
 
operations, cash
 
flow or
financial condition evidence more than average risk, requires above
 
average levels of supervision and attention from Loan
Officers.
Special Mention (Scale 10) -
 
Loans classified as special mention have
 
potential weaknesses that deserve management’s
close attention.
 
If left uncorrected, these potential weaknesses may result
 
in deterioration of the repayment prospects for
the loan or of the Corporation’s credit position at
 
some future date.
 
Adversely Classified Classifications:
Substandard
 
(Scales
 
11
 
and
 
12)
 
-
 
Loans
 
classified
 
as
 
substandard
 
are
 
deemed
 
to
 
be
 
inadequately
 
protected
 
by
 
the
current net worth
 
and payment capacity
 
of the obligor
 
or of the
 
collateral pledged, if
 
any.
 
Loans classified as
 
such have
well-defined weaknesses that jeopardize the liquidation of
 
the debt.
 
They are characterized by the
 
distinct possibility that
the institution will sustain some loss if the deficiencies
 
are not corrected.
 
Doubtful (Scale
 
13) - Loans
 
classified as
 
doubtful have
 
all the
 
weaknesses inherent
 
in those
 
classified as
 
substandard,
with the
 
additional characteristic
 
that the
 
weaknesses make
 
the collection
 
or liquidation
 
in full,
 
on the
 
basis of
 
currently
existing facts, conditions, and values, highly questionable
 
and improbable.
 
Loss
 
(Scale
 
14)
 
-
 
Uncollectible
 
and
 
of
 
such
 
little
 
value
 
that
 
continuance
 
as
 
a
 
bankable
 
asset
 
is
 
not
 
warranted.
 
This
classification does
 
not mean
 
that the
 
asset has
 
absolutely no
 
recovery or
 
salvage value,
 
but rather
 
it is
 
not practical
 
or
desirable to defer writing off this asset even though partial
 
recovery may be effected in the future.
Risk
 
ratings scales
 
10
 
through
 
14
 
conform
 
to
 
regulatory
 
ratings.
 
The
 
assignment
 
of
 
the
 
obligor
 
risk
 
rating
 
is
 
based
 
on
 
relevant
information about the ability of borrowers to
 
service their debts such as current
 
financial information, historical payment experience,
credit documentation, public information, and
 
current economic trends, among other factors.
 
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
 
December 31, 2023 and 2022 by vintage year.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 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
$
-
$
-
$
-
$
-
$
1,068
$
5,179
$
-
$
-
$
6,247
Special Mention
-
559
-
-
-
4,780
-
-
5,339
Substandard
-
-
-
-
-
4,832
-
-
4,832
Pass
37,976
138,619
21,334
20,487
32,554
24,248
306
-
275,524
Total commercial
multi-family
$
37,976
$
139,178
$
21,334
$
20,487
$
33,622
$
39,039
$
306
$
-
$
291,942
Commercial real estate non-owner occupied
Watch
$
1,959
$
882
$
5,205
$
22,211
$
5,938
$
27,015
$
-
$
-
$
63,210
Special Mention
43,020
5,413
24,730
-
15,843
68,368
-
-
157,374
Substandard
1,016
1,307
180
2,231
53,729
12,968
4,069
-
75,500
Pass
305,243
871,191
560,785
359,853
41,262
563,794
7,042
-
2,709,170
Total commercial
real estate non-
owner occupied
$
351,238
$
878,793
$
590,900
$
384,295
$
116,772
$
672,145
$
11,111
$
-
$
3,005,254
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
609
$
-
$
521
$
-
$
-
$
1,130
Commercial real estate owner occupied
Watch
$
2,947
$
45,106
$
9,913
$
4,285
$
5,017
$
62,217
$
1,000
$
-
$
130,485
Special Mention
-
16,860
20,741
1,462
887
44,069
-
-
84,019
Substandard
1,316
15,710
5,080
143,696
845
87,383
12,617
-
266,647
Doubtful
-
-
-
-
-
136
-
-
136
Pass
92,234
155,819
227,246
51,038
24,184
357,429
9,146
-
917,096
Total commercial
real estate owner
occupied
$
96,497
$
233,495
$
262,980
$
200,481
$
30,933
$
551,234
$
22,763
$
-
$
1,398,383
Year-to-Date gross
write-offs
$
-
$
4
$
-
$
-
$
1
$
4,432
$
-
$
-
$
4,437
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
Watch
$
28,841
$
95,785
$
6,111
$
4,043
$
15,560
$
65,360
$
182,756
$
-
$
398,456
Special Mention
6,401
3,269
276
3,200
2,088
41,289
9,410
-
65,933
Substandard
731
1,760
8,644
22,065
1,922
32,087
40,670
-
107,879
Doubtful
-
-
-
54
-
26
-
-
80
Pass
1,109,898
634,401
511,912
241,452
123,458
258,872
1,343,885
-
4,223,878
Total commercial
and industrial
$
1,145,871
$
735,215
$
526,943
$
270,814
$
143,028
$
397,634
$
1,576,721
$
-
$
4,796,226
Year-to-Date gross
write-offs
$
896
$
184
$
215
$
335
$
555
$
1,086
$
4,468
$
-
$
7,739
Construction
Watch
$
-
$
16,546
$
5,458
$
-
$
-
$
-
$
9,506
$
-
$
31,510
Special Mention
-
-
1,009
-
-
-
1
-
1,010
Substandard
-
6,378
-
-
-
-
$
-
-
6,378
Pass
26,662
24,462
27,364
10,758
1,944
1,049
38,720
-
130,959
Total construction
$
26,662
$
47,386
$
33,831
$
10,758
$
1,944
$
1,049
$
48,227
$
-
$
169,857
Year-to-Date gross
write-offs
$
-
 
$
2,611
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
2,611
Mortgage
Substandard
$
96
$
161
$
162
$
345
$
2,606
$
71,893
$
-
$
-
$
75,263
Pass
751,532
439,373
421,297
259,412
164,438
4,280,509
-
-
6,316,561
Total mortgage
$
751,628
$
439,534
$
421,459
$
259,757
$
167,044
$
4,352,402
$
-
$
-
$
6,391,824
Year-to-Date gross
write-offs
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
1,638
$
-
$
-
$
1,638
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 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
$
806
$
2,516
$
3,053
$
906
$
818
$
517
$
-
$
-
$
8,616
Loss
-
-
-
-
-
17
-
-
17
Pass
647,659
488,506
313,133
163,189
88,983
21,706
-
-
1,723,176
Total leasing
$
648,465
$
491,022
$
316,186
$
164,095
$
89,801
$
22,240
$
-
$
-
$
1,731,809
Year-to-Date gross
write-offs
$
1,065
$
4,424
$
2,878
$
849
$
976
$
687
$
-
$
-
$
10,879
Consumer:
Credit cards
Substandard
$
-
$
-
$
-
$
-
$
-
$
-
$
23,259
$
-
$
23,259
Loss
-
-
-
-
-
-
22
-
22
Pass
-
-
-
-
-
-
1,112,447
-
1,112,447
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,135,728
$
-
$
1,135,728
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
41,007
$
-
$
41,007
HELOCs
Substandard
$
-
$
-
$
-
$
-
$
-
$
-
$
26
$
-
$
26
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
2,622
$
-
$
2,622
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
-
$
2,648
$
-
$
2,648
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
213
$
-
$
213
Personal
Substandard
$
1,815
$
4,985
$
1,939
$
493
$
933
$
8,322
$
-
$
1,006
$
19,493
Loss
-
-
14
-
12
37
-
-
63
Pass
859,434
480,771
181,483
57,227
58,849
96,956
-
22,034
1,756,754
Total Personal
$
861,249
$
485,756
$
183,436
$
57,720
$
59,794
$
105,315
$
-
$
23,040
$
1,776,310
Year-to-Date gross
write-offs
$
4,458
$
35,915
$
18,076
$
4,210
$
4,891
$
2,952
$
-
$
1,475
$
71,977
Auto
Substandard
$
6,980
$
14,049
$
11,916
$
9,157
$
7,051
$
3,199
$
-
$
-
$
52,352
Loss
9
44
45
16
9
6
-
-
129
Pass
1,210,622
899,797
711,439
405,768
260,355
120,318
-
-
3,608,299
Total Auto
$
1,217,611
$
913,890
$
723,400
$
414,941
$
267,415
$
123,523
$
-
$
-
$
3,660,780
Year-to-Date gross
write-offs
$
10,170
$
23,849
$
11,820
$
5,914
$
3,553
$
-
$
-
$
-
$
55,306
Other consumer
Substandard
$
244
$
25
$
-
$
73
$
16
$
131
$
249
$
-
$
738
Loss
-
-
137
-
-
363
-
-
500
Pass
36,144
24,238
14,942
5,618
3,433
2,753
61,796
-
148,924
Total Other
consumer
$
36,388
$
24,263
$
15,079
$
5,691
$
3,449
$
3,247
$
62,045
$
-
$
150,162
Year-to-Date gross
write-offs
$
47
$
154
$
125
$
164
$
88
$
11,876
$
-
$
-
$
12,454
Total BPPR
$
5,173,585
$
4,388,532
$
3,095,548
$
1,789,039
$
913,802
$
6,267,828
$
2,859,549
$
23,040
$
24,510,923
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 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
$
-
$
116,794
$
39,319
$
71,237
$
93,239
$
98,365
$
-
$
-
$
418,954
Special Mention
-
-
862
1,171
-
3,377
-
-
5,410
Substandard
-
-
-
-
5,545
20,780
-
-
26,325
Pass
166,410
417,169
326,047
164,887
182,528
410,836
5,112
-
1,672,989
Total commercial
multi-family
$
166,410
$
533,963
$
366,228
$
237,295
$
281,312
$
533,358
$
5,112
$
-
$
2,123,678
Commercial real estate non-owner occupied
Watch
$
-
$
39,721
$
38,713
$
43,705
$
39,908
$
91,922
$
4,557
$
-
$
258,526
Special Mention
-
-
-
-
1,327
63,365
-
-
64,692
Substandard
-
-
-
8,054
1,702
3,730
-
-
13,486
Pass
396,712
490,316
170,074
201,225
86,595
394,455
6,086
-
1,745,463
Total commercial
real estate non-
owner occupied
$
396,712
$
530,037
$
208,787
$
252,984
$
129,532
$
553,472
$
10,643
$
-
$
2,082,167
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
193
$
-
$
-
$
193
Commercial real estate owner occupied
Watch
$
-
$
69,894
$
84,218
$
53,066
$
14,057
$
98,502
$
1,905
$
-
$
321,642
Special Mention
-
-
77,912
4,955
6,074
11,224
-
-
100,165
Substandard
-
477
2,430
-
21,763
107,675
-
-
132,345
Pass
303,202
278,380
226,289
58,505
47,083
204,888
9,753
-
1,128,100
Total commercial
real estate owner
occupied
$
303,202
$
348,751
$
390,849
$
116,526
$
88,977
$
422,289
$
11,658
$
-
$
1,682,252
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
1,395
$
-
$
-
$
1,395
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
Watch
$
198
$
37,022
$
47,299
$
44,939
$
23,493
$
93,299
$
32,497
$
-
$
278,747
Special Mention
208
889
1,021
30
151
39
8,674
-
11,012
Substandard
636
628
152
1,152
730
1,841
1,517
-
6,656
Pass
196,959
278,238
346,428
268,835
148,502
379,635
414,883
-
2,033,480
Total commercial
and industrial
$
198,001
$
316,777
$
394,900
$
314,956
$
172,876
$
474,814
$
457,571
$
-
$
2,329,895
Year-to-Date gross
write-offs
$
247
$
221
$
1,994
$
44
$
1,320
$
-
$
49
$
-
$
3,875
Construction
Watch
$
-
$
22,867
$
12,869
$
-
$
21,896
$
782
$
-
$
-
$
58,414
Special Mention
2,120
13,151
-
-
-
-
-
-
15,271
Substandard
-
1
13,997
3,895
-
36,593
-
-
54,486
Pass
280,188
251,627
89,450
14,733
25,254
-
-
-
661,252
Total construction
$
282,308
$
287,646
$
116,316
$
18,628
$
47,150
$
37,375
$
-
$
-
$
789,423
Mortgage
Substandard
$
-
$
235
$
-
$
646
$
2,102
$
8,208
$
-
$
-
$
11,191
Pass
99,296
229,720
288,767
233,805
177,245
264,069
-
-
1,292,902
Total mortgage
$
99,296
$
229,955
$
288,767
$
234,451
$
179,347
$
272,277
$
-
$
-
$
1,304,093
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 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
$
-
$
-
$
-
$
-
$
-
$
-
$
19
$
-
$
19
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
19
$
-
$
19
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
1
$
-
$
1
HELOCs
Substandard
$
-
$
-
$
-
$
-
$
-
$
1,849
$
-
$
966
$
2,815
Loss
-
-
-
-
-
99
-
819
918
Pass
-
-
-
-
-
7,394
39,925
12,253
59,572
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
9,342
$
39,925
$
14,038
$
63,305
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
471
$
-
$
-
$
471
Personal
Substandard
$
333
$
1,630
$
325
$
50
$
126
$
211
$
-
$
-
$
2,675
Loss
-
-
-
-
1
130
-
-
131
Pass
41,016
93,759
23,325
2,993
3,597
1,441
-
-
166,131
Total Personal
$
41,349
$
95,389
$
23,650
$
3,043
$
3,724
$
1,782
$
-
$
-
$
168,937
Year-to-Date gross
write-offs
$
735
$
13,136
$
4,450
$
618
$
872
$
160
$
-
$
-
$
19,971
Other consumer
Substandard
$
-
$
-
$
-
$
-
$
-
$
-
$
1
$
-
$
1
Pass
19
-
-
-
-
-
10,259
-
10,278
Total Other
consumer
$
19
$
-
$
-
$
-
$
-
$
-
$
10,260
$
-
$
10,279
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
171
$
-
$
171
Total Popular U.S.
$
1,487,297
$
2,342,518
$
1,789,497
$
1,177,883
$
902,918
$
2,304,709
$
535,188
$
14,038
$
10,554,048
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 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
$
-
$
116,794
$
39,319
$
71,237
$
94,307
$
103,544
$
-
$
-
$
425,201
Special Mention
-
559
862
1,171
-
8,157
-
-
10,749
Substandard
-
-
-
-
5,545
25,612
-
-
31,157
Pass
204,386
555,788
347,381
185,374
215,082
435,084
5,418
-
1,948,513
Total commercial
multi-family
$
204,386
$
673,141
$
387,562
$
257,782
$
314,934
$
572,397
$
5,418
$
-
$
2,415,620
Commercial real estate non-owner occupied
Watch
$
1,959
$
40,603
$
43,918
$
65,916
$
45,846
$
118,937
$
4,557
$
-
$
321,736
Special Mention
43,020
5,413
24,730
-
17,170
131,733
-
-
222,066
Substandard
1,016
1,307
180
10,285
55,431
16,698
4,069
-
88,986
Pass
701,955
1,361,507
730,859
561,078
127,857
958,249
13,128
-
4,454,633
Total commercial
real estate non-
owner occupied
$
747,950
$
1,408,830
$
799,687
$
637,279
$
246,304
$
1,225,617
$
21,754
$
-
$
5,087,421
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
609
$
-
$
714
$
-
$
-
$
1,323
Commercial real estate owner occupied
Watch
$
2,947
$
115,000
$
94,131
$
57,351
$
19,074
$
160,719
$
2,905
$
-
$
452,127
Special Mention
-
16,860
98,653
6,417
6,961
55,293
-
-
184,184
Substandard
1,316
16,187
7,510
143,696
22,608
195,058
12,617
-
398,992
Doubtful
-
-
-
-
-
136
-
-
136
Pass
395,436
434,199
453,535
109,543
71,267
562,317
18,899
-
2,045,196
Total commercial
real estate owner
occupied
$
399,699
$
582,246
$
653,829
$
317,007
$
119,910
$
973,523
$
34,421
$
-
$
3,080,635
Year-to-Date gross
write-offs
$
-
$
4
$
-
$
-
$
1
$
5,827
$
-
$
-
$
5,832
Commercial and industrial
Watch
$
29,039
$
132,807
$
53,410
$
48,982
$
39,053
$
158,659
$
215,253
$
-
$
677,203
Special Mention
6,609
4,158
1,297
3,230
2,239
41,328
18,084
-
76,945
Substandard
1,367
2,388
8,796
23,217
2,652
33,928
42,187
-
114,535
Doubtful
-
-
-
54
-
26
-
-
80
Pass
1,306,857
912,639
858,340
510,287
271,960
638,507
1,758,768
-
6,257,358
Total commercial
and industrial
$
1,343,872
$
1,051,992
$
921,843
$
585,770
$
315,904
$
872,448
$
2,034,292
$
-
$
7,126,121
Year-to-Date gross
write-offs
$
1,143
$
405
$
2,209
$
379
$
1,875
$
1,086
$
4,517
$
-
$
11,614
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 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
$
-
$
39,413
$
18,327
$
-
$
21,896
$
782
$
9,506
$
-
$
89,924
Special Mention
2,120
13,151
1,009
-
-
-
1
-
16,281
Substandard
-
6,379
13,997
3,895
-
36,593
-
-
60,864
Pass
306,850
276,089
116,814
25,491
27,198
1,049
38,720
-
792,211
Total construction
$
308,970
$
335,032
$
150,147
$
29,386
$
49,094
$
38,424
$
48,227
$
-
$
959,280
Year-to-Date gross
write-offs
$
-
$
2,611
$
-
$
-
$
-
$
-
$
-
$
-
$
2,611
Mortgage
Substandard
$
96
$
396
$
162
$
991
$
4,708
$
80,101
$
-
$
-
$
86,454
Pass
850,828
669,093
710,064
493,217
341,683
4,544,578
-
-
7,609,463
Total mortgage
$
850,924
$
669,489
$
710,226
$
494,208
$
346,391
$
4,624,679
$
-
$
-
$
7,695,917
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
1,638
$
-
$
-
$
1,638
Leasing
Substandard
$
806
$
2,516
$
3,053
$
906
$
818
$
517
$
-
$
-
$
8,616
Loss
-
-
-
-
-
17
-
-
17
Pass
647,659
488,506
313,133
163,189
88,983
21,706
-
-
1,723,176
Total leasing
$
648,465
$
491,022
$
316,186
$
164,095
$
89,801
$
22,240
$
-
$
-
$
1,731,809
Year-to-Date gross
write-offs
$
1,065
$
4,424
$
2,878
$
849
$
976
$
687
$
-
$
-
$
10,879
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 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
$
-
$
-
$
-
$
-
$
-
$
-
$
23,259
$
-
$
23,259
Loss
-
-
-
-
-
-
22
-
22
Pass
-
-
-
-
-
-
1,112,466
-
1,112,466
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,135,747
$
-
$
1,135,747
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
41,008
$
-
$
41,008
HELOCs
Substandard
$
-
$
-
$
-
$
-
$
-
$
1,849
$
26
$
966
$
2,841
Loss
-
-
-
-
-
99
-
819
918
Pass
-
-
-
-
-
7,394
42,547
12,253
62,194
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
9,342
$
42,573
$
14,038
$
65,953
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
471
$
213
$
-
$
684
Personal
Substandard
$
2,148
$
6,615
$
2,264
$
543
$
1,059
$
8,533
$
-
$
1,006
$
22,168
Loss
-
-
14
-
13
167
-
-
194
Pass
900,450
574,530
204,808
60,220
62,446
98,397
-
22,034
1,922,885
Total Personal
$
902,598
$
581,145
$
207,086
$
60,763
$
63,518
$
107,097
$
-
$
23,040
$
1,945,247
Year-to-Date gross
write-offs
$
5,193
$
49,051
$
22,526
$
4,828
$
5,763
$
3,112
$
-
$
1,475
$
91,948
Auto
Substandard
$
6,980
$
14,049
$
11,916
$
9,157
$
7,051
$
3,199
$
-
$
-
$
52,352
Loss
9
44
45
16
9
6
-
-
129
Pass
1,210,622
899,797
711,439
405,768
260,355
120,318
-
-
3,608,299
Total Auto
$
1,217,611
$
913,890
$
723,400
$
414,941
$
267,415
$
123,523
$
-
$
-
$
3,660,780
Year-to-Date gross
write-offs
$
10,170
$
23,849
$
11,820
$
5,914
$
3,553
$
-
$
-
$
-
$
55,306
Other consumer
Substandard
$
244
$
25
$
-
$
73
$
16
$
131
$
250
$
-
$
739
Loss
-
-
137
-
-
363
-
-
500
Pass
36,163
24,238
14,942
5,618
3,433
2,753
72,055
-
159,202
Total Other
consumer
$
36,407
$
24,263
$
15,079
$
5,691
$
3,449
$
3,247
$
72,305
$
-
$
160,441
Year-to-Date gross
write-offs
$
47
$
154
$
125
$
164
$
88
$
11,876
$
171
$
-
$
12,625
Total Popular Inc.
$
6,660,882
$
6,731,050
$
4,885,045
$
2,966,922
$
1,816,720
$
8,572,537
$
3,394,737
$
37,078
$
35,064,971
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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