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LOANS HELD FOR INVESTMENT (Tables)
 12 Months Ended
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Loan Portfolio Held for Investment [Table Text Block]
The following
 
provides information
 
about the loan
 
portfolio held
 
for investment
 
as of the indicated
 
dates:
As of December 31,
 
As of December 31,
 
2021
2020
(In thousands)
Residential mortgage loans, mainly secured by first mortgages
$
2,978,895
$
3,521,954
Construction loans
138,999
212,500
Commercial mortgage loans
 
2,167,469
2,230,602
C&I loans
(1) (2)
2,887,251
3,202,590
Consumer loans
2,888,044
2,609,643
 
Loans held for investment
(3)
11,060,658
11,777,289
ACL on loans and finance leases
(269,030)
(385,887)
Loans held for investment, net
$
10,791,628
$
11,391,402
(1)
As of December 31, 2021 and 2020, includes $
145.0
 
million and $
406.0
 
million, respectively, of SBA PPP loans.
(2)
As of each December 31, 2021 and 2020, includes
 
$
1.0
 
billion of commercial loans that were secured by real
 
estate but were not dependent upon the real
estate for repayment.
(3)
Includes accretable fair value net purchase discounts of $
35.3
 
million and $
48.0
 
million as of December 31, 2021 and 2020, respectively.
Loans Held for Investment on Which Accrual of Interest Income had been Discontinued [Table Text Block]
The following
 
tables present
 
by portfolio
 
classes the
 
amortized cost
 
basis of
 
loans on
 
nonaccrual status
 
and loans
past
 
due
 
90
 
days
 
or
 
more
 
and
 
still
 
accruing
 
as
 
of
 
December
 
31,
 
2021
 
and
 
the
 
interest
 
income
 
recognized
 
on
nonaccrual loans for the years ended December 31, 2021 and 2020:
As of December 31, 2021
Year Ended
December 31,
2021
Year Ended
December 31,
2020
Puerto Rico and Virgin Islands region
Nonaccrual
Loans with No
ACL
Nonaccrual
Loans with
ACL
Total
Nonaccrual
Loans
(2)
Loans Past Due
90 days or
more and Still
Accruing
(2)(3)
Interest Income
Recognized on
Nonaccrual
Loans
Interest Income
Recognized on
Nonaccrual
Loans
(In thousands)
Residential mortgage loans, mainly secured
by first mortgages:
FHA/VA government
 
-guaranteed
$
-
$
-
$
-
$
65,394
$
-
-
Conventional residential mortgage loans
3,689
44,286
47,975
28,433
1,406
1,050
Construction loans
1,000
1,664
2,664
-
61
80
Commercial mortgage loans
 
8,289
17,048
25,337
9,919
201
194
C&I loans
10,925
5,259
16,184
7,766
113
86
Consumer Loans:
Auto loans
3,146
3,538
6,684
-
99
164
Finance leases
196
670
866
-
2
25
Personal loans
-
1,208
1,208
-
92
49
Credit cards
-
-
-
2,985
-
-
Other consumer loans
20
1,543
1,563
-
5
5
Total loans held for investment
(1)
$
27,265
$
75,216
$
102,481
$
114,497
$
1,979
$
1,653
(1)
Nonaccrual loans exclude $
357.7
 
million of TDR loans that were in compliance with modified terms
 
and in accrual status as of December 31, 2021.
(2)
Nonaccrual loans exclude PCD loans previously accounted
 
for under ASC Subtopic 310-30 for which the Corporation
 
made the accounting policy election of
maintaining pools of loans
 
accounted for under ASC
 
Subtopic 310-30 as “units
 
of account” both at the time
 
of adoption of CECL on
 
January 1, 2020 and
 
on
an ongoing basis for credit loss
 
measurement. These loans accrete interest
 
income based on the effective
 
interest rate of the loan pools determined
 
at the time
of adoption
 
of CECL
 
and will
 
continue to
 
be excluded
 
from nonaccrual
 
loan statistics
 
as long
 
as the
 
Corporation can
 
reasonably estimate
 
the timing
 
and
amount of cash flows expected
 
to be collected on the
 
loan pools. The amortized cost
 
of such loans as of
 
December 31, 2021 was $
117.5
 
million. The portion
of such loans
 
contractually past due
 
90 days or
 
more, amounting to
 
$
20.6
million as of
 
December 31, 2021
 
($
19.1
 
million conventional residential
 
mortgage
loans and $
1.5
million commercial mortgage loans), is presented in the
 
loans past due 90 days or more and still accruing category in the
 
table above.
(3)
These include rebooked
 
loans, which were
 
previously pooled into
 
GNMA securities amounting
 
to $
7.2
 
million as of December
 
31, 2021. Under
 
the GNMA
program,
 
the
 
Corporation
 
has
 
the
 
option
 
but
 
not
 
the
 
obligation
 
to
 
repurchase
 
loans
 
that
 
meet
 
GNMA’s
 
specified
 
delinquency
 
criteria.
 
For
 
accounting
purposes, the loans subject
 
to the repurchase option
 
are required to be
 
reflected on the financial
 
statements with an offsetting
 
liability. During
 
the year ended
December 31, 2021, the Corporation repurchased, pursuant
 
to the aforementioned repurchase option, $
1.1
 
million of loans previously sold to GNMA.
As of December 31, 2021
Year Ended
December 31,
2021
Year Ended
December 31,
2020
Florida region
Nonaccrual
Loans with No
ACL
Nonaccrual
Loans with
ACL
Total
Nonaccrual
Loans
Loans Past Due
90 days or
more and Still
Accruing
Interest Income
Recognized on
Nonaccrual
Loans
Interest Income
Recognized on
Nonaccrual
Loans
(In thousands)
Residential mortgage loans, mainly secured
by first mortgages:
FHA/VA government
 
-guaranteed
$
-
$
-
$
-
$
121
$
-
$
-
Conventional residential mortgage loans
-
7,152
7,152
-
211
285
Construction loans
-
-
-
-
-
-
Commercial mortgage loans
 
-
-
-
-
-
-
C&I loans
468
483
951
61
70
71
Consumer Loans:
Auto loans
-
-
-
-
-
12
Finance leases
-
-
-
-
-
-
Personal loans
-
-
-
-
-
-
Credit cards
-
-
-
-
-
-
Other consumer loans
-
133
133
-
10
8
Total loans held for investment
(1)
$
468
$
7,768
$
8,236
$
182
$
291
$
376
(1)
Nonaccrual loans exclude $
5.7
 
million of TDR loans that were in compliance with modified terms
 
and in accrual status as of December 31, 2021.
As of December 31, 2021
Year Ended
December 31,
2021
Year Ended
December 31,
2020
Total
Nonaccrual
Loans with No
ACL
Nonaccrual
Loans with
ACL
Total
Nonaccrual
Loans
 
(2)
Loans Past Due
90 days or
more and Still
Accruing
(2)(3)
Interest Income
Recognized on
Nonaccrual
Loans
Interest Income
Recognized on
Nonaccrual
Loans
(In thousands)
Residential mortgage loans, mainly secured
by first mortgages:
FHA/VA government
 
-guaranteed
$
-
$
-
$
-
$
65,515
$
-
$
-
Conventional residential mortgage loans
3,689
51,438
55,127
28,433
1,617
1,335
Construction loans
1,000
1,664
2,664
-
61
80
Commercial mortgage loans
 
8,289
17,048
25,337
9,919
201
194
C&I loans
11,393
5,742
17,135
7,827
183
157
Consumer Loans:
Auto loans
3,146
3,538
6,684
-
99
176
Finance leases
196
670
866
-
2
25
Personal loans
-
1,208
1,208
-
92
49
Credit cards
-
-
-
2,985
-
-
Other consumer loans
20
1,676
1,696
-
15
13
Total loans held for investment
(1)
$
27,733
$
82,984
$
110,717
$
114,679
$
2,270
$
2,029
(1)
Nonaccrual loans exclude $
363.4
 
million of TDR loans that were in compliance with modified terms
 
and in accrual status as of December 31, 2021.
(2)
Nonaccrual loans excludes PCD loans previously accounted
 
for under ASC Subtopic 310-30 for which
 
the Corporation made the accounting policy election
of maintaining pools of loans accounted for under
 
ASC Subtopic 310-30 as “units of account” both at
 
the time of adoption of CECL on January 1,
 
2020 and
on an ongoing basis for credit
 
loss measurement. These
 
loans accrete interest income based
 
on the effective interest rate
 
of the loan pools determined
 
at the
time of adoption
 
of CECL and
 
will continue
 
to be excluded
 
from nonaccrual
 
loan statistics
 
as long as
 
the Corporation can
 
reasonably estimate
 
the timing
and amount of
 
cash flows expected
 
to be collected
 
on the loan
 
pools. The amortized
 
cost of such
 
loans as of
 
December 31, 2021
 
was $
117.5
 
million. The
portion of such loans contractually
 
past due 90 days or more,
 
amounting to $"
20.6
million as of December 31,
 
2021 ($
19.1
" million conventional residential
mortgage loans
 
and $
1.5
 
million commercial
 
mortgage loans),
 
is presented
 
in the
 
loans past
 
due 90
 
days or
 
more and
 
still accruing
 
category in
 
the table
above.
(3)
These
 
include
 
rebooked
 
loans,
 
which
 
were
 
previously
 
pooled
 
into
 
GNMA
 
securities,
 
amounting
 
to
 
$
7.2
 
million
 
as
 
of
 
December
 
31,
 
2021.
 
Under
 
the
GNMA
 
program,
 
the
 
Corporation
 
has
 
the
 
option
 
but
 
not
 
the
 
obligation
 
to
 
repurchase
 
loans
 
that
 
meet
 
GNMA’s
 
specified
 
delinquency
 
criteria.
 
For
accounting purposes, these loans
 
subject to the repurchase option
 
are required to be
 
reflected on the financial
 
statements with an offsetting
 
liability. During
the year ended December 31, 2021, the Corporation
 
repurchased, pursuant to the aforementioned repurchase
 
option, $
1.1
 
million of loans previously sold to
GNMA.
The following
 
tables present
 
by portfolio
 
classes the
 
amortized
 
cost basis
 
of loans
 
on nonaccrual
 
status and
 
loans past
 
due 90
days or more and still accruing as of December 31, 2020:
As of December 31, 2020
Puerto Rico and Virgin Islands region
Nonaccrual Loans with No
ACL
Nonaccrual Loans with ACL
Total Nonaccrual Loans
(2)
Loans Past Due 90 days or
more and Still Accruing
(2)(3)
(In thousands)
Residential mortgage loans, mainly secured
by first mortgages:
FHA/VA government
 
-guaranteed
$
-
$
-
$
-
$
98,993
Conventional residential mortgage loans
12,418
98,527
110,945
38,834
Construction loans
4,546
8,425
12,971
-
Commercial mortgage loans
 
11,777
17,834
29,611
3,252
C&I loans
14,824
5,496
20,320
2,246
Consumer Loans:
Auto loans
26
8,638
8,664
-
Finance leases
-
1,466
1,466
-
Personal loans
-
1,623
1,623
-
Credit cards
-
-
-
1,520
Other consumer loans
-
3,682
3,682
-
Total loans held for investment
(1)
$
43,591
$
145,691
$
189,282
$
144,845
(1)
Nonaccrual loans exclude $
386.7
 
million of TDR loans that were in compliance with modified terms
 
and in accrual status as of December 31, 2020.
(2)
Excludes PCD loans previously accounted
 
for under ASC Subtopic 310-30 for
 
which the Corporation made the accounting
 
policy election of maintaining pools
 
of loans accounted
for under ASC Subtopic
 
310-30 as “units
 
of account” both at
 
the time of adoption
 
of CECL on January
 
1, 2020 and on
 
an ongoing basis
 
for credit loss measurement.
 
These loans
accrete interest
 
income based
 
on the effective
 
interest rate
 
of the
 
loan pools
 
determined at
 
the time of
 
adoption of
 
CECL and
 
will continue
 
to be
 
excluded from
 
nonaccrual loan
statistics as long as the Corporation can
 
reasonably estimate the timing and amount
 
of cash flows expected to be collected
 
on the loan pools. The amortized cost
 
of such loans as of
December 31,
 
2020 was
 
$
130.9
 
million. The
 
portion of
 
such loans
 
contractually past
 
due 90
 
days or
 
more, amounting
 
to $
26.3
 
million as
 
of December
 
31, 2020
 
($
24.7
 
million
conventional residential
 
mortgage loans
 
and $
1.6
 
million commercial
 
mortgage loans),
 
is presented in
 
the loans past
 
due 90 days
 
or more and
 
still accruing
 
category in
 
the table
above.
(3)
These
 
include
 
loans
 
rebooked,
 
which
 
were
 
previously
 
pooled
 
into
 
GNMA
 
securities
 
amounting
 
to
 
$
10.7
 
million
 
as
 
of
 
December
 
31,
 
2020.
 
Under
 
the
 
GNMA
 
program,
 
the
Corporation
 
has
 
the
 
option
 
but
 
not
 
the
 
obligation to
 
repurchase
 
loans
 
that
 
meet
 
GNMA’s
 
specified
 
delinquency
 
criteria.
 
For
 
accounting
 
purposes,
 
these
 
loans
 
subject
 
to
 
the
repurchase option
 
are required
 
to be
 
reflected on
 
the financial
 
statements with
 
an offsetting
 
liability.
 
During the
 
year ended
 
December 31,
 
2020, the
 
Corporation repurchased,
pursuant to the aforementioned repurchase option, $
55.0
 
million of loans previously sold to GNMA.
As of December 31, 2020
Florida region
Nonaccrual Loans with No
ACL
Nonaccrual Loans with ACL
Total Nonaccrual Loans
Loans Past Due 90 days or
more and Still Accruing
(In thousands)
Residential mortgage loans, mainly secured
by first mortgages:
FHA/VA government
 
-guaranteed
$
-
$
-
$
-
$
250
Conventional residential mortgage loans
2,584
11,838
14,422
-
Construction loans
-
-
-
-
Commercial mortgage loans
 
-
-
-
-
C&I loans
561
-
561
-
Consumer Loans:
Auto loans
-
223
223
-
Finance leases
-
-
-
-
Personal loans
-
-
-
-
Credit cards
-
-
-
-
Other consumer loans
-
601
601
-
Total loans held for investment
(1)
$
3,145
$
12,662
$
15,807
$
250
(1)
Nonaccrual loans exclude $
6.6
 
million of TDR loans that were in compliance with modified terms
 
and in accrual status as of December 31, 2020.
As of December 31, 2020
Total
Nonaccrual Loans with No
ACL
Nonaccrual Loans with ACL
Total Nonaccrual Loans
 
(2)
Loans Past Due 90 days or
more and Still Accruing
(2)(3)
(In thousands)
Residential mortgage loans, mainly secured
by first mortgages:
FHA/VA government
 
-guaranteed
$
-
$
-
$
-
$
99,243
Conventional residential mortgage loans
15,002
110,365
125,367
38,834
Construction loans
4,546
8,425
12,971
-
Commercial mortgage loans
 
11,777
17,834
29,611
3,252
C&I loans
15,385
5,496
20,881
2,246
Consumer Loans:
Auto loans
26
8,861
8,887
-
Finance leases
-
1,466
1,466
-
Personal loans
-
1,623
1,623
-
Credit cards
-
-
-
1,520
Other consumer loans
-
4,283
4,283
-
Total loans held for investment
(1)
$
46,736
$
158,353
$
205,089
$
145,095
(1)
Nonaccrual loans exclude $
393.3
 
million of TDR loans that were in compliance with modified terms
 
and in accrual status as of December 31, 2020.
(2)
Excludes PCD loans previously accounted
 
for under ASC Subtopic 310-30 for
 
which the Corporation made the accounting
 
policy election of maintaining pools
 
of loans accounted
for under ASC Subtopic
 
310-30 as “units
 
of account” both at
 
the time of adoption
 
of CECL on January
 
1, 2020 and on
 
an ongoing basis
 
for credit loss measurement.
 
These loans
accrete interest
 
income based
 
on the effective
 
interest rate
 
of the
 
loan pools
 
determined at
 
the time of
 
adoption of
 
CECL and
 
will continue
 
to be
 
excluded from
 
nonaccrual loan
statistics as long as the Corporation can
 
reasonably estimate the timing and amount
 
of cash flows expected to be collected
 
on the loan pools. The amortized cost
 
of such loans as of
December 31,
 
2020 was
 
$
130.9
 
million. The
 
portion of
 
such loans
 
contractually past
 
due 90
 
days or
 
more, amounting
 
to $
26.3
 
million as
 
of December
 
31, 2020
 
($
24.7
 
million
conventional residential
 
mortgage loans
 
and $
1.6
 
million commercial
 
mortgage loans),
 
is presented in
 
the loans past
 
due 90 days
 
or more and
 
still accruing
 
category in
 
the table
above.
(3)
These
 
include
 
rebooked
 
loans
 
,
 
which
 
were
 
previously
 
pooled
 
into
 
GNMA
 
securities
 
amounting
 
to
 
$
10.7
 
million
 
as
 
of December
 
31,
 
2020.
 
Under
 
the
 
GNMA program,
 
the
Corporation
 
has
 
the
 
option
 
but
 
not
 
the
 
obligation to
 
repurchase
 
loans
 
that
 
meet
 
GNMA’s
 
specified
 
delinquency
 
criteria.
 
For
 
accounting
 
purposes,
 
these
 
loans
 
subject
 
to
 
the
repurchase option
 
are required
 
to be
 
reflected on
 
the financial
 
statements with
 
an offsetting
 
liability.
 
During the
 
year ended
 
December 31,
 
2020, the
 
Corporation repurchased,
pursuant to the aforementioned repurchase option, $
55.0
 
million of loans previously sold to GNMA.
Corporation's Aging of Loans Held for Investment Portfolio [Table Text Block]
The Corporation’s aging of the loan portfolio
 
held for investment by portfolio classes as of December 31, 2021 is as follows:
As of December 31, 2021
Puerto Rico and Virgin Islands region
30-59 Days
Past Due
60-89 Days
Past Due
90 days or
more Past
Due
(1)(2)(3)
Total Past
Due
 
Current
Total loans
held for
investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
 
FHA/VA government-guaranteed loans
(2) (3) (4)
$
-
$
2,355
$
65,394
$
67,749
$
56,903
$
124,652
 
Conventional residential mortgage loans
(4)
-
29,724
76,408
106,132
2,318,789
2,424,921
Commercial loans:
 
Construction loans
18
-
2,664
2,682
40,451
43,133
 
Commercial mortgage loans
(4)
2,402
436
35,256
38,094
1,664,137
1,702,231
 
C&I loans
 
2,007
1,782
23,950
27,739
1,918,858
1,946,597
Consumer loans:
 
Auto loans
26,020
4,828
6,684
37,532
1,525,249
1,562,781
 
Finance leases
4,820
713
866
6,399
568,606
575,005
 
Personal loans
3,299
1,285
1,208
5,792
310,283
316,075
 
Credit cards
3,158
1,904
2,985
8,047
282,179
290,226
 
Other consumer loans
1,985
811
1,563
4,359
123,938
128,297
 
Total loans held for investment
$
43,709
$
43,838
$
216,978
$
304,525
$
8,809,393
$
9,113,918
 
(1)
Includes nonaccrual loans
 
and accruing loans
 
that were contractually
 
delinquent 90 days
 
or more (i.e.,
 
FHA/VA
 
guaranteed loans
 
and credit cards).
 
Credit card loans
 
continue to
accrue finance charges and fees until charged-off
 
at 180 days.
(2)
It is the Corporation's
 
policy to report delinquent
 
residential mortgage loans
 
insured by the FHA,
 
guaranteed by the VA,
 
and other government-insured
 
loans as past-due
 
loans 90
days and still
 
accruing as opposed
 
to nonaccrual loans
 
since the principal repayment
 
is insured. The
 
Corporation continues accruing
 
interest on these
 
loans until they
 
have passed
the 15 months delinquency mark, taking into
 
consideration the FHA interest curtailment process.
 
These balances include $
46.6
 
million of residential mortgage loans insured
 
by the
FHA that were over 15 months delinquent.
(3)
As of December
 
31, 2021, includes $
7.2
 
million of defaulted loans
 
collateralizing GNMA securities
 
for which the Corporation
 
has an unconditional option
 
(but not an obligation)
to repurchase the defaulted loans.
(4)
According to the
 
Corporation's delinquency policy
 
and consistent with
 
the instructions for
 
the preparation of the
 
Consolidated Financial
 
Statements for Bank
 
Holding Companies
(FR Y-9C)
 
required by the
 
Federal Reserve Board,
 
residential mortgage, commercial
 
mortgage, and construction
 
loans are considered
 
past due when
 
the borrower is in
 
arrears on
two or
 
more monthly
 
payments. FHA/VA
 
government-guaranteed loans,
 
conventional residential
 
mortgage loans,
 
and commercial
 
mortgage loans
 
past due
 
30-59 days,
 
but less
than two payments in arrears, as of December 31, 2021 amounted
 
to $
6.1
 
million, $
63.1
 
million, and $
0.7
 
million, respectively.
As of December 31, 2021
Florida region
30-59 Days
Past Due
60-89 Days
Past Due
90 days or
more Past
Due
(1) (2)
Total Past
Due
 
Current
Total loans
held for
investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
 
FHA/VA government-guaranteed loans
(2)
$
-
$
-
$
121
$
121
$
619
$
740
 
Conventional residential mortgage loans
(3)
-
2,108
7,152
9,260
419,322
428,582
Commercial loans:
 
Construction loans
-
-
-
-
95,866
95,866
 
Commercial mortgage loans
-
-
-
-
465,238
465,238
 
C&I loans
 
40
63
1,012
1,115
939,539
940,654
Consumer loans:
 
Auto loans
442
121
-
563
8,196
8,759
 
Finance leases
-
-
-
-
-
-
 
Personal loans
-
-
-
-
107
107
 
Credit cards
-
-
-
-
-
-
 
Other consumer loans
11
-
133
144
6,650
6,794
 
Total loans held for investment
$
493
$
2,292
$
8,418
$
11,203
$
1,935,537
$
1,946,740
 
(1)
Includes nonaccrual loans and accruing loans that were contractually
 
delinquent 90 days or more (i.e., FHA/VA
 
guaranteed loans).
(2)
It is
 
the Corporation's
 
policy to
 
report delinquent
 
residential mortgage
 
loans insured
 
by the
 
FHA, guaranteed
 
by the
 
VA,
 
and other
 
government-insured loans
 
as past-due
loans 90 days
 
and still accruing
 
as opposed
 
to nonaccrual
 
loans since
 
the principal repayment
 
is insured.
 
The Corporation
 
continues accruing
 
interest on these
 
loans until
they have passed the 15 months
 
delinquency mark, taking into consideration
 
the FHA interest curtailment process.
No
 
residential mortgage loans insured by the
 
FHA in the
Florida region were over 15 months delinquent as of December
 
31, 2021.
 
(3)
According
 
to the
 
Corporation's
 
delinquency
 
policy and
 
consistent
 
with
 
the instructions
 
for the
 
preparation
 
of the
 
Consolidated
 
Financial
 
Statements
 
for Bank
 
Holding
Companies
 
(FR
 
Y-9C)
 
required
 
by
 
the
 
Federal
 
Reserve
 
Board,
 
residential
 
mortgage,
 
commercial
 
mortgage,
 
and
 
construction
 
loans
 
are
 
considered
 
past
 
due
 
when
 
the
borrower
 
is
 
in
 
arrears
 
on
 
two
 
or
 
more
 
monthly
 
payments.
 
Conventional
 
residential
 
mortgage
 
loans
 
past
 
due
 
30-59
 
days,
 
but
 
less
 
than
 
two
 
payments
 
in
 
arrears,
 
as
 
of
December 31, 2021 amounted to $
2.9
 
million.
As of December 31, 2021
Total
30-59 Days
Past Due
60-89 Days
Past Due
90 days or
more Past
Due
(1)(2)(3)
Total Past
Due
 
Current
Total loans held
for investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
 
FHA/VA government-guaranteed loans
(2) (3) (4)
$
-
$
2,355
$
65,515
$
67,870
$
57,522
$
125,392
 
Conventional residential mortgage loans
(4)
-
31,832
83,560
115,392
2,738,111
2,853,503
Commercial loans:
 
Construction loans
 
18
-
2,664
2,682
136,317
138,999
 
Commercial mortgage loans
(4)
2,402
436
35,256
38,094
2,129,375
2,167,469
 
C&I loans
 
2,047
1,845
24,962
28,854
2,858,397
2,887,251
Consumer loans:
 
Auto loans
26,462
4,949
6,684
38,095
1,533,445
1,571,540
 
Finance leases
4,820
713
866
6,399
568,606
575,005
 
Personal loans
3,299
1,285
1,208
5,792
310,390
316,182
 
Credit cards
3,158
1,904
2,985
8,047
282,179
290,226
 
Other consumer loans
1,996
811
1,696
4,503
130,588
135,091
 
Total loans held for investment
$
44,202
$
46,130
$
225,396
$
315,728
$
10,744,930
$
11,060,658
 
(1)
Includes nonaccrual loans
 
and accruing loans
 
that were contractually
 
delinquent 90 days
 
or more (i.e.,
 
FHA/VA
 
guaranteed loans
 
and credit cards).
 
Credit card loans
 
continue to
accrue finance charges and fees until charged-off
 
at 180 days.
(2)
It is the Corporation's
 
policy to report
 
delinquent residential mortgage
 
loans insured by the
 
FHA, guaranteed by
 
the VA,
 
and other government-insured
 
loans as past-due
 
loans 90
days and still
 
accruing as opposed
 
to nonaccrual loans
 
since the principal
 
repayment is insured.
 
The Corporation continues
 
accruing interest on
 
these loans until
 
they have passed
the 15 months delinquency mark,
 
taking into consideration the FHA interest
 
curtailment process. These balances include
 
$
46.6
 
million of residential mortgage loans
 
insured by the
FHA that were over 15 months delinquent.
(3)
As of December
 
31, 2021, includes $
7.2
 
million of defaulted loans
 
collateralizing GNMA securities
 
for which the Corporation
 
has an unconditional
 
option (but not an
 
obligation)
to repurchase the defaulted loans.
(4)
According to the
 
Corporation's delinquency policy
 
and consistent with
 
the instructions for
 
the preparation of
 
the Consolidated
 
Financial Statements for
 
Bank Holding Companies
(FR Y-9C)
 
required by the
 
Federal Reserve Board,
 
residential mortgage, commercial
 
mortgage, and construction
 
loans are considered
 
past due when
 
the borrower is
 
in arrears on
two or
 
more monthly
 
payments. FHA/VA
 
government-guaranteed loans,
 
conventional residential
 
mortgage loans,
 
and commercial
 
mortgage loans
 
past due
 
30-59 days,
 
but less
than two payments in arrears, as of December 31, 2021 amounted
 
to $
6.1
 
million, $
66.0
 
million, and $
0.7
 
million, respectively.
The Corporation’s aging of the loan portfolio
 
held for investment by portfolio classes as of December 31, 2020 is as
follows:
As of December 31, 2020
Puerto Rico and Virgin Islands region
30-59 Days
Past Due
60-89 Days
Past Due
90 days or
more Past
Due
(1)(2)(3)
Total Past
Due
 
Current
 
Total loans
held for
investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
 
FHA/VA government-guaranteed loans
(2) (3) (4)
$
-
$
2,223
$
98,993
$
101,216
$
48,348
$
149,564
 
Conventional residential mortgage loans
 
(4)
-
61,040
149,779
210,819
2,641,820
2,852,639
Commercial loans:
 
Construction loans
(4)
-
19
12,971
12,990
72,026
85,016
 
Commercial mortgage loans
(4)
5,071
6,588
32,863
44,522
1,808,702
1,853,224
 
C&I loans
 
3,283
10,692
22,566
36,541
2,228,190
2,264,731
Consumer loans:
 
Auto loans
24,025
5,992
8,664
38,681
1,239,445
1,278,126
 
Finance leases
5,059
1,086
1,466
7,611
465,378
472,989
 
Personal loans
4,034
1,981
1,623
7,638
364,373
372,011
 
Credit cards
3,528
5,842
1,518
10,888
308,936
319,824
 
Other consumer loans
2,143
993
3,684
6,820
133,162
139,982
 
Total loans held for investment
$
47,143
$
96,456
$
334,127
$
477,726
$
9,310,380
$
9,788,106
 
(1)
Includes
 
nonaccrual
 
loans
 
and
 
accruing loans
 
that
 
were contractually
 
delinquent
 
90
 
days
 
or more
 
(i.e., FHA/VA
 
guaranteed
 
loans
 
and credit
 
cards).
 
Credit
 
card loans
continue to accrue finance charges and fees until charged
 
-off at 180 days.
(2)
It is
 
the Corporation's
 
policy to
 
report delinquent
 
residential mortgage
 
loans insured
 
by the
 
FHA, guaranteed
 
by the
 
VA,
 
and other
 
government-insured loans
 
as past-due
loans 90 days
 
and still accruing
 
as opposed
 
to nonaccrual
 
loans since
 
the principal repayment
 
is insured.
 
The Corporation
 
continues accruing
 
interest on these
 
loans until
they have
 
passed the
 
15 months
 
delinquency mark,
 
taking into
 
consideration the
 
FHA interest
 
curtailment process.
 
These balances
 
include $
57.9
 
million of
 
residential
mortgage loans insured by the FHA that were over 15 months delinquent.
(3)
As of
 
December 31,
 
2020, includes
 
$
10.7
 
million of
 
defaulted loans
 
collateralizing GNMA
 
securities for
 
which the
 
Corporation has
 
an unconditional
 
option (but
 
not an
obligation) to repurchase the defaulted loans.
(4)
According
 
to the
 
Corporation's
 
delinquency
 
policy and
 
consistent
 
with
 
the instructions
 
for the
 
preparation
 
of the
 
Consolidated
 
Financial
 
Statements
 
for Bank
 
Holding
Companies
 
(FR
 
Y-9C)
 
required
 
by
 
the
 
Federal
 
Reserve
 
Board,
 
residential
 
mortgage,
 
commercial
 
mortgage,
 
and
 
construction
 
loans
 
are
 
considered
 
past
 
due
 
when
 
the
borrower is in arrears on two or more monthly payments. FHA/VA
 
government-guaranteed loans, conventional residential mortgage
 
loans, commercial mortgage loans, and
construction loans
 
past due 30-59
 
days, but less
 
than two payments
 
in arrears,
 
as of December
 
31, 2020 amounted
 
to $
5.9
 
million, $
105.2
 
million, $
5.0
 
million, and
 
$
0.1
million, respectively.
As of December 31, 2020
Florida region
30-59 Days
Past Due
60-89 Days
Past Due
90 days or
more Past
Due
(1) (2)
Total Past
Due
 
Current
 
Total loans
held for
investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
 
FHA/VA government-guaranteed loans
(2) (3)
$
-
$
-
$
250
$
250
$
920
$
1,170
 
Conventional residential mortgage loans
(3)
-
3,237
14,422
17,659
500,922
518,581
Commercial loans:
 
Construction loans
-
-
-
-
127,484
127,484
 
Commercial mortgage loans
-
-
-
-
377,378
377,378
 
C&I loans
 
218
-
561
779
937,080
937,859
Consumer loans:
 
Auto loans
710
297
223
1,230
17,068
18,298
 
Finance leases
-
-
-
-
-
-
 
Personal loans
-
-
-
-
157
157
 
Credit cards
-
-
-
-
-
-
 
Other consumer loans
58
-
601
659
7,597
8,256
 
Total loans held for investment
$
986
$
3,534
$
16,057
$
20,577
$
1,968,606
$
1,989,183
 
(1)
Includes nonaccrual loans and accruing loans that were contractually
 
delinquent 90 days or more (
i.e
., FHA/VA
 
guaranteed loans).
 
(2)
It is
 
the Corporation's
 
policy to
 
report delinquent
 
residential mortgage
 
loans insured
 
by the
 
FHA, guaranteed
 
by the
 
VA,
 
and other
 
government-insured loans
 
as past-due
loans 90 days
 
and still accruing
 
as opposed
 
to nonaccrual
 
loans since
 
the principal repayment
 
is insured.
 
The Corporation
 
continues accruing
 
interest on these
 
loans until
they have passed the 15 months
 
delinquency mark, taking into consideration
 
the FHA interest curtailment process.
 
No residential mortgage loans insured by
 
the FHA in the
Florida region were over 15 months delinquent as of December
 
31, 2020.
(3)
According
 
to the
 
Corporation's
 
delinquency
 
policy and
 
consistent
 
with
 
the instructions
 
for the
 
preparation
 
of the
 
Consolidated
 
Financial
 
Statements
 
for Bank
 
Holding
Companies
 
(FR
 
Y-9C)
 
required
 
by
 
the
 
Federal
 
Reserve
 
Board,
 
residential
 
mortgage,
 
commercial
 
mortgage,
 
and
 
construction
 
loans
 
are
 
considered
 
past
 
due
 
when
 
the
borrower is in arrears on
 
two or more monthly payments.
 
FHA/VA
 
government-guaranteed loans and conventional
 
residential mortgage loans past
 
due 30-59 days, but less
than two payments in arrears, as of December 31, 2020 amounted
 
to $
0.2
 
million and $
6.6
 
million, respectively.
As of December 31, 2020
Total
30-59 Days
Past Due
60-89 Days
Past Due
90 days or
more Past
Due
(1)(2)(3)
Total Past
Due
 
Current
 
Total loans held
for investment
(In thousands)
Residential mortgage loans, mainly secured by first mortgages:
 
FHA/VA government-guaranteed loans
 
(2) (3) (4)
$
-
$
2,223
$
99,243
$
101,466
$
49,268
$
150,734
 
Conventional residential mortgage loans
 
(4)
-
64,277
164,201
228,478
3,142,742
3,371,220
Commercial loans:
 
Construction loans
(4)
-
19
12,971
12,990
199,510
212,500
 
Commercial mortgage loans
(4)
5,071
6,588
32,863
44,522
2,186,080
2,230,602
 
C&I loans
 
3,501
10,692
23,127
37,320
3,165,270
3,202,590
Consumer loans:
 
Auto loans
24,735
6,289
8,887
39,911
1,256,513
1,296,424
 
Finance leases
5,059
1,086
1,466
7,611
465,378
472,989
 
Personal loans
4,034
1,981
1,623
7,638
364,530
372,168
 
Credit cards
3,528
5,842
1,518
10,888
308,936
319,824
 
Other consumer loans
2,201
993
4,285
7,479
140,759
148,238
 
Total loans held for investment
$
48,129
$
99,990
$
350,184
$
498,303
$
11,278,986
$
11,777,289
 
(1)
Includes nonaccrual loans
 
and accruing loans
 
that were contractually delinquent
 
90 days or more
 
(i.e., FHA/VA
 
guaranteed loans and
 
credit cards). Credit card
 
loans continue
to accrue finance charges and fees until charged
 
-off at 180 days.
(2)
It is the Corporation's
 
policy to report delinquent
 
residential mortgage loans
 
insured by the FHA,
 
guaranteed by the VA,
 
and other government-insured
 
loans as past-due loans
90 days and
 
still accruing as
 
opposed to nonaccrual
 
loans since the
 
principal repayment is
 
insured. The Corporation
 
continues accruing interest
 
on these loans
 
until they have
passed the
 
15 months
 
delinquency mark,
 
taking into
 
consideration the
 
FHA interest
 
curtailment process.
 
These balances
 
include $
57.9
 
million of
 
residential mortgage
 
loans
insured by the FHA that were over 15 months delinquent.
(3)
As
 
of December
 
31,
 
2020,
 
includes
 
$
10.7
 
million
 
of defaulted
 
loans
 
collateralizing
 
GNMA securities
 
for which
 
the
 
Corporation
 
has
 
an
 
unconditional
 
option
 
(but not
 
an
obligation) to repurchase the defaulted loans.
(4)
According
 
to
 
the
 
Corporation's
 
delinquency
 
policy
 
and
 
consistent
 
with
 
the
 
instructions
 
for
 
the
 
preparation
 
of
 
the
 
Consolidated
 
Financial
 
Statements
 
for
 
Bank
 
Holding
Companies (FR Y-9C)
 
required by the
 
Federal Reserve Board,
 
residential mortgage, commercial
 
mortgage, and construction
 
loans are considered
 
past due when
 
the borrower
is in arrears on two or more
 
monthly payments. FHA/VA
 
government-guaranteed loans, conventional
 
residential mortgage loans, commercial mortgage
 
loans, and construction
loans
 
past
 
due
 
30-59
 
days,
 
but
 
less
 
than
 
two
 
payments
 
in
 
arrears,
 
as
 
of
 
December
 
31,
 
2020
 
amounted
 
to
 
$
6.1
 
million,
 
$
111.8
 
million,
 
$
5.0
 
million,
 
and
 
$
0.1
 
million,
respectively.
Corporation's Credit Quality Indicators by Loan [Table Text Block]
Based
 
on the
 
most
 
recent analysis
 
performed,
 
the
 
amortized
 
cost
 
of commercial
 
and construction
 
loans by
 
portfolio
 
classes and
 
by
origination
 
year
 
based
 
on
 
the
 
internal
 
credit-risk
 
category
 
as
 
of
 
December
 
31,
 
2021
 
and
 
the
 
amortized
 
cost
 
of
 
commercial
 
and
construction loans by portfolio classes based on the internal credit-risk
 
category as of December 31, 2020 was as follows:
As of December 31,
 
2021
Puerto Rico and Virgin Islands region
Term Loans
As of December 31, 2020
Amortized Cost Basis by Origination Year
(1)
(In thousands)
2021
2020
2019
2018
2017
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
CONSTRUCTION
 
Risk Ratings:
 
Pass
$
1,401
$
12,596
$
19,001
$
-
$
193
$
4,875
$
-
$
38,066
$
68,836
 
Criticized:
 
Special Mention
-
-
765
-
-
-
-
765
776
 
Substandard
-
-
-
841
-
3,461
-
4,302
15,404
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total construction loans
$
1,401
$
12,596
$
19,766
$
841
$
193
$
8,336
$
-
$
43,133
$
85,016
COMMERCIAL MORTGAGE
 
Risk Ratings:
 
Pass
$
159,093
$
364,911
$
216,942
$
223,817
$
73,668
$
356,908
$
230
$
1,395,569
$
1,511,827
 
Criticized:
 
Special Mention
-
10,621
89,409
19,167
118,122
21,944
-
259,263
292,736
 
Substandard
2,224
-
-
782
2,227
42,166
-
47,399
48,661
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial mortgage loans
$
161,317
$
375,532
$
306,351
$
243,766
$
194,017
$
421,018
$
230
$
1,702,231
$
1,853,224
COMMERCIAL AND INDUSTRIAL
 
Risk Ratings:
 
Pass
$
307,431
$
206,560
$
346,746
$
180,601
$
160,389
$
201,785
$
449,040
$
1,852,552
$
2,155,226
 
Criticized:
 
Special Mention
9,549
1,372
836
-
-
11,641
9,252
32,650
59,421
 
Substandard
633
1,470
14,534
2,109
17,170
20,010
5,469
61,395
50,084
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial and industrial loans
$
317,613
$
209,402
$
362,116
$
182,710
$
177,559
$
233,436
$
463,761
$
1,946,597
$
2,264,731
(1) Excludes accrued interest receivable.
As of December 31,
 
2021
Term Loans
As of December 31, 2020
Florida region
Amortized Cost Basis by Origination Year
(1)
(In thousands)
2021
2020
2019
2018
2017
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
CONSTRUCTION
 
Risk Ratings:
 
Pass
$
31,802
$
26,209
$
83
$
37,772
$
-
$
-
$
-
$
95,866
$
127,484
 
Criticized:
 
Special Mention
-
-
-
-
-
-
-
-
-
 
Substandard
-
-
-
-
-
-
-
-
-
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total construction loans
$
31,802
$
26,209
$
83
$
37,772
$
-
$
-
$
-
$
95,866
$
127,484
COMMERCIAL MORTGAGE
 
Risk Ratings:
 
Pass
$
97,215
$
77,086
$
87,332
$
61,379
$
30,054
$
33,078
$
18,160
$
404,304
$
291,627
 
Criticized:
 
Special Mention
-
7,126
13,601
6,782
5,353
27,756
-
60,618
85,427
 
Substandard
-
-
-
-
-
316
-
316
324
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial mortgage loans
$
97,215
$
84,212
$
100,933
$
68,161
$
35,407
$
61,150
$
18,160
$
465,238
$
377,378
COMMERCIAL AND INDUSTRIAL
 
Risk Ratings:
 
Pass
$
239,017
$
121,815
$
207,483
$
74,440
$
59,182
$
21,138
$
103,748
$
826,823
$
823,124
 
Criticized:
 
Special Mention
-
-
27,207
-
-
4,770
17,969
49,946
73,974
 
Substandard
-
24,444
34,476
-
-
4,630
335
63,885
40,761
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial and industrial loans
$
239,017
$
146,259
$
269,166
$
74,440
$
59,182
$
30,538
$
122,052
$
940,654
$
937,859
(1) Excludes accrued interest receivable.
As of December 31,
 
2021
Total
Term Loans
As of December 31, 2020
Amortized Cost Basis by Origination Year (1)
(In thousands)
2021
2020
2019
2018
2017
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
CONSTRUCTION
 
Risk Ratings:
 
Pass
$
33,203
$
38,805
$
19,084
$
37,772
$
193
$
4,875
$
-
$
133,932
$
196,320
 
Criticized:
 
Special Mention
-
-
765
-
-
-
-
765
776
 
Substandard
-
-
-
841
-
3,461
-
4,302
15,404
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total construction loans
$
33,203
$
38,805
$
19,849
$
38,613
$
193
$
8,336
$
-
$
138,999
$
212,500
COMMERCIAL MORTGAGE
 
Risk Ratings:
 
Pass
$
256,308
$
441,997
$
304,274
$
285,196
$
103,722
$
389,986
$
18,390
$
1,799,873
$
1,803,454
 
Criticized:
 
Special Mention
-
17,747
103,010
25,949
123,475
49,700
-
319,881
378,163
 
Substandard
2,224
-
-
782
2,227
42,482
-
47,715
48,985
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial mortgage loans
$
258,532
$
459,744
$
407,284
$
311,927
$
229,424
$
482,168
$
18,390
$
2,167,469
$
2,230,602
COMMERCIAL AND INDUSTRIAL
 
Risk Ratings:
 
Pass
$
546,448
$
328,375
$
554,229
$
255,041
$
219,571
$
222,923
$
552,788
$
2,679,375
$
2,978,350
 
Criticized:
 
Special Mention
9,549
1,372
28,043
-
-
16,411
27,221
82,596
133,395
 
Substandard
633
25,914
49,010
2,109
17,170
24,640
5,804
125,280
90,845
 
Doubtful
-
-
-
-
-
-
-
-
-
 
Loss
-
-
-
-
-
-
-
-
-
 
Total commercial and industrial loans
$
556,630
$
355,661
$
631,282
$
257,150
$
236,741
$
263,974
$
585,813
$
2,887,251
$
3,202,590
(1) Excludes accrued interest receivable.
The
 
following
 
table
 
presents
 
the
 
amortized
 
cost
 
of
 
residential
 
mortgage
 
loans
 
by
 
origination
 
year
 
based
 
on
 
accrual
 
status
 
as
 
of
December 31, 2021, and the amortized cost of residential mortgage loans by accrual
 
status of December 31, 2020:
As of December 31,
 
2021
As of
December 31,
2020
Term Loans
Amortized Cost Basis by Origination Year (1)
(In thousands)
2021
2020
2019
2018
2017
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
Puerto Rico and Virgin Islands Region:
FHA/VA government-guaranteed loans
Accrual Status:
Performing
$
-
$
362
$
914
$
2,051
$
3,769
$
117,556
$
-
$
124,652
$
149,564
Non-Performing
-
-
-
-
-
-
-
-
-
Total FHA/VA
 
government-guaranteed loans
$
-
$
362
$
914
$
2,051
$
3,769
$
117,556
$
-
$
124,652
$
149,564
Conventional residential mortgage loans:
Accrual Status:
Performing
$
79,765
$
34,742
$
58,650
$
85,739
$
61,393
$
2,056,657
$
-
$
2,376,946
$
2,741,694
Non-Performing
-
-
114
279
142
47,440
-
47,975
110,945
Total conventional residential mortgage loans
$
79,765
$
34,742
$
58,764
$
86,018
$
61,535
$
2,104,097
$
-
$
2,424,921
$
2,852,639
Total:
Accrual Status:
Performing
$
79,765
$
35,104
$
59,564
$
87,790
$
65,162
$
2,174,213
$
-
$
2,501,598
$
2,891,258
Non-Performing
-
-
114
279
142
47,440
-
47,975
110,945
Total residential mortgage loans in Puerto Rico and
Virgin Islands Region
$
79,765
$
35,104
$
59,678
$
88,069
$
65,304
$
2,221,653
$
-
$
2,549,573
$
3,002,203
(1)
Excludes accrued interest receivable.
As of December 31,
 
2021
As of
December 31,
2020
Term Loans
Amortized Cost Basis by Origination Year (1)
(In thousands)
2021
2020
2019
2018
2017
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
Florida Region:
FHA/VA government-guaranteed loans
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
740
$
-
$
740
$
1,170
Non-Performing
-
-
-
-
-
-
-
-
-
Total FHA/VA
 
government-guaranteed loans
$
-
$
-
$
-
$
-
$
-
$
740
$
-
$
740
$
1,170
Conventional residential mortgage loans:
Accrual Status:
Performing
$
53,394
$
37,600
$
40,557
$
51,870
$
58,066
$
179,943
$
-
$
421,430
$
504,159
Non-Performing
-
-
293
-
214
6,645
-
7,152
14,422
Total conventional residential mortgage loans
$
53,394
$
37,600
$
40,850
$
51,870
$
58,280
$
186,588
$
-
$
428,582
$
518,581
Total:
Accrual Status:
Performing
$
53,394
$
37,600
$
40,557
$
51,870
$
58,066
$
180,683
$
-
$
422,170
$
505,329
Non-Performing
-
-
293
-
214
6,645
-
7,152
14,422
Total residential mortgage loans in Florida region
$
53,394
$
37,600
$
40,850
$
51,870
$
58,280
$
187,328
$
-
$
429,322
$
519,751
(1)
Excludes accrued interest receivable.
As of December 31,
 
2021
As of
December 31,
2020
Term Loans
Amortized Cost Basis by Origination Year (1)
(In thousands)
2021
2020
2019
2018
2017
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
Total:
FHA/VA government-guaranteed loans
Accrual Status:
Performing
$
-
$
362
$
914
$
2,051
$
3,769
$
118,296
$
-
$
125,392
$
150,734
Non-Performing
-
-
-
-
-
-
-
-
-
Total FHA/VA
 
government-guaranteed loans
$
-
$
362
$
914
$
2,051
$
3,769
$
118,296
$
-
$
125,392
$
150,734
Conventional residential mortgage loans:
Accrual Status:
Performing
$
133,159
$
72,342
$
99,207
$
137,609
$
119,459
$
2,236,600
$
-
$
2,798,376
$
3,245,853
Non-Performing
-
-
407
279
356
54,085
-
55,127
125,367
Total conventional residential mortgage loans
$
133,159
$
72,342
$
99,614
$
137,888
$
119,815
$
2,290,685
$
-
$
2,853,503
$
3,371,220
Total:
Accrual Status:
Performing
$
133,159
$
72,704
$
100,121
$
139,660
$
123,228
$
2,354,896
$
-
$
2,923,768
$
3,396,587
Non-Performing
-
-
407
279
356
54,085
-
55,127
125,367
Total residential mortgage loans
$
133,159
$
72,704
$
100,528
$
139,939
$
123,584
$
2,408,981
$
-
$
2,978,895
$
3,521,954
(1)
Excludes accrued interest receivable.
The following table
 
presents the amortized
 
cost of consumer
 
loans by origination
 
year based on
 
accrual status as of
 
December 31,
2021, and the amortized cost of consumer loans by accrual status of December 31,
 
2020:
As of December 31,
 
2021
As of
December 31,
2020
Term Loans
Amortized Cost Basis by Origination Year (1)
(In thousands)
2021
2020
2019
2018
2017
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
Puerto Rico and Virgin Islands Regions:
Auto loans:
Accrual Status:
Performing
$
648,111
$
350,581
$
302,460
$
159,021
$
65,836
$
30,088
$
-
$
1,556,097
$
1,269,462
Non-Performing
873
830
1,663
1,175
851
1,292
-
6,684
8,664
Total auto loans
$
648,984
$
351,411
$
304,123
$
160,196
$
66,687
$
31,380
$
-
$
1,562,781
$
1,278,126
Finance leases:
Accrual Status:
Performing
$
229,456
$
114,945
$
116,089
$
76,144
$
25,516
$
11,989
$
-
$
574,139
$
471,523
Non-Performing
-
84
243
269
63
207
-
866
1,466
Total finance leases
$
229,456
$
115,029
$
116,332
$
76,413
$
25,579
$
12,196
$
-
$
575,005
$
472,989
Personal loans:
Accrual Status:
Performing
$
85,614
$
53,074
$
96,890
$
44,969
$
20,767
$
13,553
$
-
$
314,867
$
370,388
Non-Performing
31
153
483
226
128
187
-
1,208
1,623
Total personal loans
$
85,645
$
53,227
$
97,373
$
45,195
$
20,895
$
13,740
$
-
$
316,075
$
372,011
Credit cards:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
290,226
$
290,226
$
319,824
Non-Performing
-
-
-
-
-
-
-
-
-
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
290,226
$
290,226
$
319,824
Other consumer loans:
Accrual Status:
Performing
$
56,338
$
18,128
$
25,602
$
8,594
$
3,325
$
6,066
$
8,681
$
126,734
$
136,300
Non-Performing
192
111
220
49
29
761
201
1,563
3,682
Total other consumer loans
$
56,530
$
18,239
$
25,822
$
8,643
$
3,354
$
6,827
$
8,882
$
128,297
$
139,982
Total:
Performing
1,019,519
536,728
541,041
288,728
115,444
61,696
298,907
2,862,063
2,567,497
Non-Performing
1,096
1,178
2,609
1,719
1,071
2,447
201
10,321
15,435
Total consumer loans in Puerto Rico and Virgin
Islands region
$
1,020,615
$
537,906
$
543,650
$
290,447
$
116,515
$
64,143
$
299,108
$
2,872,384
$
2,582,932
(1)
Excludes accrued interest receivable.
As of December 31,
 
2021
As of
December 31,
2020
Term Loans
Amortized Cost Basis by Origination Year (1)
(In thousands)
2021
2020
2019
2018
2017
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
Florida Region:
Auto loans:
Accrual Status:
Performing
$
-
$
-
$
642
$
4,748
$
2,455
$
914
$
-
$
8,759
$
18,075
Non-Performing
-
-
-
-
-
-
-
-
223
Total auto loans
$
-
$
-
$
642
$
4,748
$
2,455
$
914
$
-
$
8,759
$
18,298
Finance leases:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Non-Performing
-
-
-
-
-
-
-
-
-
Total finance leases
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Personal loans:
Accrual Status:
Performing
$
70
$
24
$
13
$
-
$
-
$
-
$
-
$
107
$
157
Non-Performing
-
-
-
-
-
-
-
-
-
Total personal loans
$
70
$
24
$
13
$
-
$
-
$
-
$
-
$
107
$
157
Credit cards:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Non-Performing
-
-
-
-
-
-
-
-
-
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Other consumer loans:
Accrual Status:
Performing
$
239
$
482
$
-
$
40
$
71
$
3,096
$
2,733
$
6,661
$
7,655
Non-Performing
-
-
-
-
-
23
110
133
601
Total other consumer loans
$
239
$
482
$
-
$
40
$
71
$
3,119
$
2,843
$
6,794
$
8,256
Total:
Performing
309
506
655
4,788
2,526
4,010
2,733
15,527
25,887
Non-Performing
-
-
-
-
-
23
110
133
824
Total consumer loans in Florida region
$
309
$
506
$
655
$
4,788
$
2,526
$
4,033
$
2,843
$
15,660
$
26,711
(1)
Excludes accrued interest receivable.
As of December 31,
 
2021
As of
December 31,
2020
Term Loans
Amortized Cost Basis by Origination Year (1)
(In thousands)
2021
2020
2019
2018
2017
Prior
Revolving
Loans
Amortized
Cost Basis
Total
Total
Total:
Auto loans:
Accrual Status:
Performing
$
648,111
$
350,581
$
303,102
$
163,769
$
68,291
$
31,002
$
-
$
1,564,856
$
1,287,537
Non-Performing
873
830
1,663
1,175
851
1,292
-
6,684
8,887
Total auto loans
$
648,984
$
351,411
$
304,765
$
164,944
$
69,142
$
32,294
$
-
$
1,571,540
$
1,296,424
Finance leases:
Accrual Status:
Performing
$
229,456
$
114,945
$
116,089
$
76,144
$
25,516
$
11,989
$
-
$
574,139
$
471,523
Non-Performing
-
84
243
269
63
207
-
866
1,466
Total finance leases
$
229,456
$
115,029
$
116,332
$
76,413
$
25,579
$
12,196
$
-
$
575,005
$
472,989
Personal loans:
Accrual Status:
Performing
$
85,684
$
53,098
$
96,903
$
44,969
$
20,767
$
13,553
$
-
$
314,974
$
370,545
Non-Performing
31
153
483
226
128
187
-
1,208
1,623
Total personal loans
$
85,715
$
53,251
$
97,386
$
45,195
$
20,895
$
13,740
$
-
$
316,182
$
372,168
Credit cards:
Accrual Status:
Performing
$
-
$
-
$
-
$
-
$
-
$
-
$
290,226
$
290,226
$
319,824
Non-Performing
-
-
-
-
-
-
-
-
-
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
290,226
$
290,226
$
319,824
Other consumer loans:
Accrual Status:
Performing
$
56,577
$
18,610
$
25,602
$
8,634
$
3,396
$
9,162
$
11,414
$
133,395
$
143,955
Non-Performing
192
111
220
49
29
784
311
1,696
4,283
Total other consumer loans
$
56,769
$
18,721
$
25,822
$
8,683
$
3,425
$
9,946
$
11,725
$
135,091
$
148,238
Total:
Performing
1,019,828
537,234
541,696
293,516
117,970
65,706
301,640
2,877,590
2,593,384
Non-Performing
1,096
1,178
2,609
1,719
1,071
2,470
311
10,454
16,259
Total consumer loans
$
1,020,924
$
538,412
$
544,305
$
295,235
$
119,041
$
68,176
$
301,951
$
2,888,044
$
2,609,643
(1)
Excludes accrued interest receivable.
Collateral Pledged [Member]  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Loan Portfolio Held for Investment [Table Text Block]
The following tables present information about collateral dependent loans
 
that were individually evaluated for purposes of
determining the ACL as of QtrEndCYYear
 
and 2020:
As of December 31, 2021
Collateral Dependent Loans - With
Allowance
Collateral Dependent
Loans - With No
Related Allowance
Collateral Dependent Loans - Total
Puerto Rico and Virgin Islands region
Amortized Cost
 
Related Allowance
Amortized Cost
Amortized Cost
Related Allowance
(In thousands)
Residential mortgage loans:
FHA/VA government
 
-guaranteed loans
$
-
$
-
$
-
$
-
$
-
Conventional residential mortgage loans
48,398
3,731
781
49,179
3,731
Commercial loans:
Construction loans
-
-
1,797
1,797
-
Commercial mortgage loans
9,908
1,152
54,096
64,004
1,152
C&I loans
 
5,781
670
33,575
39,356
670
Consumer loans:
Auto loans
-
-
-
-
-
Finance leases
-
-
-
-
-
Personal loans
78
1
-
78
1
Credit cards
-
-
-
-
-
Other consumer loans
782
98
-
782
98
$
64,947
$
5,652
$
90,249
$
155,196
$
5,652
As of December 31, 2021
Collateral Dependent Loans - With
Allowance
Collateral Dependent
Loans - With No
Related Allowance
Collateral Dependent Loans - Total
Florida region
Amortized Cost
 
Related Allowance
Amortized Cost
 
Amortized Cost
Related Allowance
(In thousands)
Residential mortgage loans:
FHA/VA government
 
-guaranteed loans
$
-
$
-
$
-
$
-
$
-
Conventional residential mortgage loans
3,373
235
-
3,373
235
Commercial loans:
Construction loans
-
-
-
-
-
Commercial mortgage loans
-
-
2,265
2,265
-
C&I loans
 
-
-
468
468
-
Consumer loans:
Auto loans
-
-
-
-
-
Finance leases
-
-
-
-
-
Personal loans
-
-
-
-
-
Credit cards
-
-
-
-
-
Other consumer loans
-
-
-
-
-
$
3,373
$
235
$
2,733
$
6,106
$
235
As of December 31, 2021
Collateral Dependent Loans - With
Allowance
Collateral Dependent
Loans - With No
Related Allowance
Collateral Dependent Loans - Total
Total
Amortized Cost
 
Related Allowance
Amortized Cost
Amortized Cost
 
Related Allowance
(In thousands)
Residential mortgage loans:
FHA/VA government
 
-guaranteed loans
$
-
$
-
$
-
$
-
$
-
Conventional residential mortgage loans
51,771
3,966
781
52,552
3,966
Commercial loans:
Construction loans
-
-
1,797
1,797
-
Commercial mortgage loans
9,908
1,152
56,361
66,269
1,152
C&I loans
 
5,781
670
34,043
39,824
670
Consumer loans:
Auto loans
-
-
-
-
-
Finance leases
-
-
-
-
-
Personal loans
78
1
-
78
1
Credit cards
-
-
-
-
-
Other consumer loans
782
98
-
782
98
$
68,320
$
5,887
$
92,982
$
161,302
$
5,887
As of December 31, 2020
Collateral Dependent Loans - With
Allowance
Collateral Dependent
Loans - With No
Related Allowance
Collateral Dependent Loans - Total
Puerto Rico and Virgin Islands region
Amortized Cost
 
Related Allowance
Amortized Cost
 
Amortized Cost
 
Related Allowance
(In thousands)
Residential mortgage loans:
FHA/VA government
 
-guaranteed loans
$
-
$
-
$
-
$
-
$
-
Conventional residential mortgage loans
100,950
9,582
7,145
108,095
9,582
Commercial loans:
Construction loans
6,036
500
6,125
12,161
500
Commercial mortgage loans
17,882
1,923
49,241
67,123
1,923
C&I loans
 
21,933
880
24,728
46,661
880
Consumer loans:
Auto loans
-
-
-
-
-
Finance leases
-
-
-
-
-
Personal loans
146
2
-
146
2
Credit cards
-
-
-
-
-
Other consumer loans
857
113
-
857
113
$
147,804
$
13,000
$
87,239
$
235,043
$
13,000
As of December 31, 2020
Collateral Dependent Loans - With
Allowance
Collateral Dependent
Loans - With No
Related Allowance
Collateral Dependent Loans - Total
Florida region
Amortized Cost
 
Related Allowance
Amortized Cost
 
Amortized Cost
Related Allowance
(In thousands)
Residential mortgage loans:
FHA/VA government
 
-guaranteed loans
$
-
$
-
$
-
$
-
$
-
Conventional residential mortgage loans
6,224
988
2,400
8,624
988
Commercial loans:
Construction loans
-
-
-
-
-
Commercial mortgage loans
-
-
2,327
2,327
-
C&I loans
 
-
-
561
561
-
Consumer loans:
Auto loans
-
-
-
-
-
Finance leases
-
-
-
-
-
Personal loans
-
-
-
-
-
Credit cards
-
-
-
-
-
Other consumer loans
248
83
-
248
83
$
6,472
$
1,071
$
5,288
$
11,760
$
1,071
As of December 31, 2020
Collateral Dependent Loans - With
Allowance
Collateral Dependent
Loans - With No
Related Allowance
Collateral Dependent Loans - Total
Total
Amortized Cost
 
Related Allowance
Amortized Cost
 
Amortized Cost
 
Related Allowance
(In thousands)
Residential mortgage loans:
FHA/VA government
 
-guaranteed loans
$
-
$
-
$
-
$
-
$
-
Conventional residential mortgage loans
107,174
10,570
9,545
116,719
10,570
Commercial loans:
Construction loans
6,036
500
6,125
12,161
500
Commercial mortgage loans
17,882
1,923
51,568
69,450
1,923
C&I loans
 
21,933
880
25,289
47,222
880
Consumer loans:
Auto loans
-
-
-
-
-
Finance leases
-
-
-
-
-
Personal loans
146
2
-
146
2
Credit cards
-
-
-
-
-
Other consumer loans
1,105
196
-
1,105
196
$
154,276
$
14,071
$
92,527
$
246,803
$
14,071
TDR  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Troubled Debt Restructurings On Financing Receivables Table [Text Block]
Selected information on the Corporation’s
 
TDR loans held for investment based on the amortized cost by loan class and modification
type is summarized in the following tables as of the indicated dates:
As of December 31,
 
2021
Puerto Rico and Virgin Islands region
Interest rate
below market
Maturity or
term
extension
Combination
of reduction
in interest
rate and
extension of
maturity
Forgiveness
of principal
and/or
interest
Forbearance
Agreement
Other
(1)
Total
(In thousands)
TDRs:
Conventional residential mortgage loans
$
15,800
$
10,265
$
176,615
$
-
$
220
$
51,616
$
254,516
Construction loans
16
869
1,374
-
-
44
2,303
Commercial mortgage loans
1,421
718
41,480
-
16,041
6,908
66,568
C&I loans
218
2,401
17,319
-
16,765
33,302
70,005
Consumer loans:
Auto loans
-
186
2,561
-
-
4,503
7,250
Finance leases
-
2
258
-
-
715
975
Personal loans
43
6
329
-
-
596
974
Credit cards
-
-
2,574
9
-
-
2,583
Other consumer loans
892
816
282
122
-
274
2,386
Total TDRs in Puerto Rico and Virgin Islands region
$
18,390
$
15,263
$
242,792
$
131
$
33,026
$
97,958
$
407,560
(1)
Other concessions granted by the Corporation include deferral
 
of principal and/or interest payments for a period longer than
 
what would be considered insignificant, payment plans
 
under judicial
stipulation, or a combination of two or more of the concessions
 
listed in the table. Amounts included in Other that represent a
 
combination of concessions are excluded from the amounts
 
reported
in the column for such individual concessions.
As of December 31,
 
2021
Florida region
Interest rate
below market
Maturity or
term
extension
Combination
of reduction
in interest
rate and
extension of
maturity
Forgiveness
of principal
and/or
interest
Forbearance
Agreement
Other
(1)
Total
(In thousands)
TDRs:
Conventional residential mortgage loans
$
603
$
897
$
2,557
$
-
$
-
$
-
$
4,057
Construction loans
-
-
-
-
-
-
-
Commercial mortgage loans
-
812
1,453
-
-
-
2,265
C&I loans
-
282
-
-
-
133
415
Consumer loans:
Auto loans
-
31
3
-
-
-
34
Finance leases
-
-
-
-
-
-
-
Personal loans
-
-
-
-
-
-
-
Credit cards
-
-
-
-
-
-
-
Other consumer loans
-
-
75
-
-
332
407
 
Total TDRs in Florida region
$
603
$
2,022
$
4,088
$
-
$
-
$
465
$
7,178
(1)
Other concessions granted by the Corporation include deferral
 
of principal and/or interest payments for a period longer than what
 
would be considered insignificant, payment plans under judicial
stipulation, or a combination of two or more of the concessions
 
listed in the table. Amounts included in Other that represent a
 
combination of concessions are excluded from the amounts
 
reported
in the column for such individual concessions.
As of December 31,
 
2021
Total
Interest rate
below market
Maturity or
term
extension
Combination
of reduction
in interest
rate and
extension of
maturity
Forgiveness
of principal
and/or
interest
Forbearance
Agreement
Other
(1)
Total
(In thousands)
TDRs:
Conventional residential mortgage loans
$
16,403
$
11,162
$
179,172
$
-
$
220
$
51,616
$
258,573
Construction loans
16
869
1,374
-
-
44
2,303
Commercial mortgage loans
1,421
1,530
42,933
-
16,041
6,908
68,833
C&I loans
218
2,683
17,319
-
16,765
33,435
70,420
Consumer loans:
Auto loans
-
217
2,564
-
-
4,503
7,284
Finance leases
-
2
258
-
-
715
975
Personal loans
43
6
329
-
-
596
974
Credit cards
-
-
2,574
9
-
-
2,583
Other consumer loans
892
816
357
122
-
606
2,793
 
Total TDRs
$
18,993
$
17,285
$
246,880
$
131
$
33,026
$
98,423
$
414,738
(1)
Other concessions granted by the
 
Corporation include deferral of principal and/or
 
interest payments for a period
 
longer than what would be considered
 
insignificant, payment plans under
 
judicial
stipulation, or a combination of two or more
 
of the concessions listed in the table. Amounts included
 
in Other that represent a combination of
 
concessions are excluded from the amounts reported
in the column for such individual concessions.
As of December 31,
 
2020
Puerto Rico and Virgin Islands region
Interest rate
below market
Maturity or
term
extension
Combination
of reduction
in interest
rate and
extension of
maturity
Forgiveness
of principal
and/or
interest
Forbearance
Agreement
Other
(1)
Total
(In thousands)
TDRs:
Conventional residential mortgage loans
$
17,740
$
11,125
$
211,155
$
-
$
223
$
66,694
$
306,937
Construction loans
21
1,700
1,516
-
-
186
3,423
Commercial mortgage loans
1,491
1,380
35,714
-
16,473
6,765
61,823
C&I loans
238
12,267
14,119
-
17,890
35,744
80,258
Consumer loans:
Auto loans
-
474
4,863
-
-
6,112
11,449
Finance leases
-
15
588
-
-
541
1,144
Personal loans
58
9
571
-
-
286
924
Credit cards
-
-
2,342
16
-
-
2,358
Other consumer loans
1,602
991
572
193
-
343
3,701
Total TDRs in Puerto Rico and Virgin Islands region
$
21,150
$
27,961
$
271,440
$
209
$
34,586
$
116,671
$
472,017
(1)
Other concessions granted by the
 
Corporation include deferral of principal and/or
 
interest payments for a period
 
longer than what would be considered
 
insignificant, payment plans under
 
judicial
stipulation, or a combination of two or more
 
of the concessions listed in the table. Amounts included
 
in Other that represent a combination of
 
concessions are excluded from the amounts reported
in the column for such individual concessions.
As of December 31,
 
2020
Florida region
Interest rate
below market
Maturity or
term
extension
Combination
of reduction
in interest
rate and
extension of
maturity
Forgiveness
of principal
and/or
interest
Forbearance
Agreement
Other
(1)
Total
(In thousands)
TDRs:
Conventional residential mortgage loans
$
989
$
401
$
2,257
$
-
$
-
$
22
$
3,669
Construction loans
-
-
-
-
-
-
-
Commercial mortgage loans
-
834
1,781
-
-
-
2,615
C&I loans
-
-
-
-
-
224
224
Consumer loans:
Auto loans
-
55
15
-
-
-
70
Finance leases
-
-
-
-
-
-
-
Personal loans
-
-
-
-
-
-
-
Credit cards
-
-
-
-
-
-
-
Other consumer loans
37
-
172
-
-
392
601
 
Total TDRs in Florida region
$
1,026
$
1,290
$
4,225
$
-
$
-
$
638
$
7,179
(1)
Other concessions granted by the Corporation include deferral
 
of principal and/or interest payments for a period longer than what
 
would be considered insignificant, payment plans under judicial
stipulation, or a combination of two or more of the concessions
 
listed in the table. Amounts included in Other that represent a
 
combination of concessions are excluded from the amounts
 
reported
in the column for such individual concessions.
As of December 31,
 
2020
Total
Interest rate
below market
Maturity or
term
extension
Combination
of reduction
in interest
rate and
extension of
maturity
Forgiveness
of principal
and/or
interest
Forbearance
Agreement
Other
(1)
Total
(In thousands)
TDRs:
Conventional residential mortgage loans
$
18,729
$
11,526
$
213,412
$
-
$
223
$
66,716
$
310,606
Construction loans
21
1,700
1,516
-
-
186
3,423
Commercial mortgage loans
1,491
2,214
37,495
-
16,473
6,765
64,438
C&I loans
238
12,267
14,119
-
17,890
35,968
80,482
Consumer loans:
Auto loans
-
529
4,878
-
-
6,112
11,519
Finance leases
-
15
588
-
-
541
1,144
Personal loans
58
9
571
-
-
286
924
Credit cards
-
-
2,342
16
-
-
2,358
Other consumer loans
1,639
991
744
193
-
735
4,302
 
Total TDRs
$
22,176
$
29,251
$
275,665
$
209
$
34,586
$
117,309
$
479,196
(1)
Other concessions granted by the Corporation include deferral
 
of principal and/or interest payments for a period longer than what
 
would be considered insignificant, payment plans under judicial
stipulation, or a combination of two or more of the concessions
 
listed in the table. Amounts included in Other that represent a
 
combination of concessions are excluded from the amounts
 
reported
in the column for such individual concessions.
The following table presents the Corporation’s
 
TDR loans held for investment activity for the indicated periods:
Year
 
Ended
Year
 
Ended
Year
 
Ended
December 31,
 
2021
December 31,
 
2020
December 31, 2019
(In thousands)
Beginning balance of TDRs
$
479,196
$
487,997
$
582,647
New TDRs
34,216
36,319
63,433
Increases to existing TDRs
94
6,009
1,840
Charge-offs post-modification
(1)
(17,434)
(11,122)
(10,342)
Sales, net of charge-offs
(17,492)
-
-
Foreclosures
 
(3,117)
(2,015)
(12,872)
Removed from the TDR classification
(8,001)
-
-
Paid-off, partial payments and other
(2)
(52,724)
(37,992)
(136,709)
 
Ending balance of TDRs
$
414,738
$
479,196
$
487,997
(1)
For the year ended December
 
31, 2021, includes charge-offs
 
totaling $
12.5
 
million related to $
29.9
 
million of residential mortgage
 
TDR loans that were part
 
of the $
52.5
 
million bulk sale
of nonaccrual residential mortgage loans.
(2)
For the year ended December 31, 2019, includes the payoff
 
of a $
92.4
 
million commercial mortgage loan.
The following tables provide a breakdown of the TDR loans held for investment portfolio
 
by those in accrual and nonaccrual status as
of the indicated dates:
December 31, 2021
Puerto Rico and
Virgin Islands region
Florida region
Total
Accrual
Nonaccrual
 
Total TDRs
Accrual
Nonaccrual
Total TDRs
Accrual
Nonaccrual
(1)
Total TDRs
(In thousands)
Conventional residential mortgage loans
$
234,597
$
19,919
$
254,516
$
3,030
$
1,027
$
4,057
$
237,627
$
20,946
$
258,573
Construction loans
1,845
458
2,303
-
-
-
1,845
458
2,303
Commercial mortgage loans
50,608
15,960
66,568
2,265
-
2,265
52,873
15,960
68,833
C&I loans
59,792
10,213
70,005
-
415
415
59,792
10,628
70,420
Consumer loans:
 
Auto loans
4,174
3,076
7,250
34
-
34
4,208
3,076
7,284
 
Finance leases
975
-
975
-
-
-
975
-
975
 
Personal loans
973
1
974
-
-
-
973
1
974
 
Credit Cards
2,583
-
2,583
-
-
-
2,583
-
2,583
 
Other consumer loans
2,111
275
2,386
407
-
407
2,518
275
2,793
 
Total TDRs
$
357,658
$
49,902
$
407,560
$
5,736
$
1,442
$
7,178
$
363,394
$
51,344
$
414,738
(1)
Included in nonaccrual loans
 
are $
13.5
 
million in loans that
 
are performing under the
 
terms of the restructuring
 
agreement but are reported
 
in nonaccrual status until
 
the restructured loans meet
the criteria of sustained payment performance under the revised
 
terms for reinstatement to accrual status and are deemed
 
fully collectible.
December 31, 2020
Puerto Rico and
Virgin Islands region
Florida region
Total
Accrual
Nonaccrual
Total TDRs
Accrual
Nonaccrual
Total TDRs
Accrual
Nonaccrual
(1)
Total TDRs
(In thousands)
Conventional residential mortgage loans
$
253,421
$
53,516
$
306,937
$
3,358
$
311
$
3,669
$
256,779
$
53,827
$
310,606
Construction loans
2,480
943
3,423
-
-
-
2,480
943
3,423
Commercial mortgage loans
43,012
18,811
61,823
2,615
-
2,615
45,627
18,811
64,438
C&I loans
73,649
6,609
80,258
-
224
224
73,649
6,833
80,482
Consumer loans:
 
Auto loans
6,481
4,968
11,449
70
-
70
6,551
4,968
11,519
 
Finance leases
1,125
19
1,144
-
-
-
1,125
19
1,144
 
Personal loans
920
4
924
-
-
-
920
4
924
 
Credit Cards
2,358
-
2,358
-
-
-
2,358
-
2,358
 
Other consumer loans
3,274
427
3,701
564
37
601
3,838
464
4,302
 
Total TDRs
$
386,720
$
85,297
$
472,017
$
6,607
$
572
$
7,179
$
393,327
$
85,869
$
479,196
(1)
Included in nonaccrual
 
loans are $
5.9
 
million in loans
 
that are performing
 
under the terms
 
of the restructuring
 
agreement but are
 
reported in nonaccrual
 
status until the
 
restructured loans meet
the criteria of sustained payment performance under the revised
 
terms for reinstatement to accrual status and are deemed
 
fully collectible.
Loan modifications that are considered TDR loans completed during 2021, 2020
 
and 2019 were as follows:
Year Ended December 31, 2021
Puerto Rico and Virgin Islands region
Florida region
Total
Number of
contracts
Pre-
modification
Amortized
Cost
Post-
modification
Amortized
Cost
Number of
contracts
Pre-
modification
Amortized
Cost
Post-
modification
Amortized
Cost
Number of
contracts
Pre-
modification
Amortized
Cost
Post-
modification
Amortized
Cost
(Dollars in thousands)
TDRs:
Conventional residential mortgage loans
61
$
6,221
$
6,128
5
$
1,466
$
1,466
66
$
7,687
$
7,594
Construction loans
-
-
-
-
-
-
-
-
-
Commercial mortgage loans
7
11,285
11,223
-
-
-
7
11,285
11,223
C&I loans
5
9,732
9,609
1
299
299
6
10,031
9,908
Consumer loans:
 
Auto loans
134
2,601
2,598
-
-
-
134
2,601
2,598
 
Finance leases
42
692
697
-
-
-
42
692
697
 
Personal loans
46
497
504
-
-
-
46
497
504
 
Credit Cards
246
1,426
1,426
-
-
-
246
1,426
1,426
 
Other consumer loans
65
266
266
-
-
-
65
266
266
 
Total TDRs
606
$
32,720
$
32,451
6
$
1,765
$
1,765
612
$
34,485
$
34,216
Year Ended December 31, 2020
Puerto Rico and Virgin Islands region
Florida region
Total
Number of
contracts
Pre-
modification
Amortized
Cost
Post-
modification
Amortized
Cost
Number of
contracts
Pre-
modification
Amortized
Cost
Post-
modification
Amortized
Cost
Number of
contracts
Pre-
modification
Amortized
Cost
Post-
modification
Amortized
Cost
(Dollars in thousands)
TDRs:
Conventional residential mortgage loans
103
$
9,027
$
8,307
-
$
-
$
-
103
$
9,027
$
8,307
Construction loans
-
-
-
-
-
-
-
-
-
Commercial mortgage loans
5
824
824
-
-
-
5
824
824
C&I loans
14
22,544
22,524
-
-
-
14
22,544
22,524
Consumer loans:
 
Auto loans
163
2,635
2,623
-
-
-
163
2,635
2,623
 
Finance leases
29
408
408
-
-
-
29
408
408
 
Personal loans
30
306
305
-
-
-
30
306
305
 
Credit Cards
159
783
783
-
-
-
159
783
783
 
Other consumer loans
144
590
522
1
23
23
145
613
545
 
Total TDRs
647
$
37,117
$
36,296
1
$
23
$
23
648
$
37,140
$
36,319
Year Ended December 31, 2019
Puerto Rico and Virgin Islands region
Florida region
Total
Number of
contracts
Pre-
modification
Amortized
Cost
Post-
modification
Amortized
Cost
Number of
contracts
Pre-
modification
Amortized
Cost
Post-
modification
Amortized
Cost
Number of
contracts
Pre-
modification
Amortized
Cost
Post-
modification
Amortized
Cost
(Dollars in thousands)
TDRs:
Conventional residential mortgage loans
118
$
14,606
$
14,084
-
$
-
$
-
118
$
14,606
$
14,084
Construction loans
4
118
117
-
-
-
4
118
117
Commercial mortgage loans
13
40,988
38,750
-
-
-
13
40,988
38,750
C&I loans
14
1,754
1,750
-
-
-
14
1,754
1,750
Consumer loans:
 
Auto loans
253
4,168
4,121
3
33
33
256
4,201
4,154
 
Finance leases
42
804
801
-
-
-
42
804
801
 
Personal loans
53
502
499
-
-
-
53
502
499
 
Credit Cards
153
800
800
-
-
-
153
800
800
 
Other consumer loans
656
2,411
2,478
-
-
-
656
2,411
2,478
 
Total TDRs
1,306
$
66,151
$
63,400
3
$
33
$
33
1,309
$
66,184
$
63,433
Loan
 
modifications
 
considered
 
TDR
 
loans
 
that
 
defaulted
 
during
 
the
 
years
 
ended
 
December
 
31,
 
2021,
 
2020,
 
and
 
2019,
 
and
 
had
become TDR loans during the 12-months preceding the default date, were
 
as follows:
Year Ended December 31,
 
2021
2020
2019
Puerto Rico and Virgin Islands region
Number of
contracts
Amortized Cost
Number of
contracts
Amortized Cost
Number of
contracts
Amortized Cost
(Dollars in thousands)
Conventional residential mortgage loans
7
$
475
10
$
2,380
11
$
2,019
Construction loans
-
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
-
C&I loans
-
-
3
124
-
-
Consumer loans:
 
Auto loans
92
1,625
55
947
130
2,221
 
Finance leases
-
-
1
5
1
14
 
Personal loans
1
1
1
7
1
9
 
Credit cards
42
260
47
228
-
-
 
Other consumer loans
11
45
58
209
77
238
 
Total Puerto Rico and Virgin Islands region
153
$
2,406
175
$
3,900
220
$
4,501
Year Ended December 31,
 
2021
2020
2019
Florida region
Number of
contracts
Amortized Cost
Number of
contracts
Amortized Cost
Number of
contracts
Amortized Cost
(Dollars in thousands)
Conventional residential mortgage loans
-
$
-
-
$
-
-
$
-
Construction loans
-
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
-
C&I loans
-
-
-
-
-
-
Consumer loans:
 
Auto loans
-
-
-
-
-
-
 
Finance leases
-
-
-
-
-
-
 
Personal loans
-
-
-
-
-
-
 
Credit cards
-
-
-
-
-
-
 
Other consumer loans
-
-
-
-
-
-
 
Total in Florida region
-
$
-
-
$
-
-
$
-
Year Ended December 31,
 
2021
2020
2019
Total
Number of
contracts
Amortized Cost
Number of
contracts
Amortized Cost
Number of
contracts
Amortized Cost
(Dollars in thousands)
Conventional residential mortgage loans
7
$
475
10
$
2,380
11
$
2,019
Construction loans
-
-
-
-
-
-
Commercial mortgage loans
-
-
-
-
-
-
C&I loans
-
-
3
124
-
-
Consumer loans:
 
Auto loans
92
1,625
55
947
130
2,221
 
Finance leases
-
-
1
5
1
14
 
Personal loans
1
1
1
7
1
9
 
Credit cards
42
260
47
228
-
-
 
Other consumer loans
11
45
58
209
77
238
 
Total
153
$
2,406
175
$
3,900
220
$
4,501