LOANS HELD FOR INVESTMENT (Tables)

3 Months Ended

Mar. 31, 2023

Accounts, Notes, Loans and Financing Receivable [Line Items]

Loan Portfolio Held for Investment [Table Text Block]

The following table provides information about the loan portfolio held for investment by portfolio segment and disaggregated by

geographic locations as of the indicated dates:

As of March 31, 

As of December 31,

2023

2022

(In thousands)

Puerto Rico and Virgin Islands region:

Residential mortgage loans, mainly secured by first mortgages

$

2,381,782

$

2,417,900

Construction loans

48,195

34,772

Commercial mortgage loans 

1,829,173

1,834,204

Commercial and Industrial ("C&I") loans

1,941,228

1,860,109

Consumer loans

3,398,245

3,317,489

Loans held for investment

$

9,598,623

$

9,464,474

Florida region:

Residential mortgage loans, mainly secured by first mortgages

$

429,746

$

429,390

Construction loans

95,469

98,181

Commercial mortgage loans 

524,486

524,647

C&I loans

920,961

1,026,154

Consumer loans

8,700

9,979

Loans held for investment

$

1,979,362

$

2,088,351

Total:

Residential mortgage loans, mainly secured by first mortgages

$

2,811,528

$

2,847,290

Construction loans

143,664

132,953

Commercial mortgage loans 

2,353,659

2,358,851

C&I loans

(1)

2,862,189

2,886,263

Consumer loans

3,406,945

3,327,468

Loans held for investment

(2)

11,577,985

11,552,825

ACL on loans and finance leases

(265,567)

(260,464)

Loans held for investment, net

$

11,312,418

$

11,292,361

(1)

As of March 31, 2023 and December 31, 2022, includes $

837.8

 million and $

838.5

 million, respectively, of commercial loans that were secured by real estate and

the primary source of repayment at origination was not dependent upon the real estate.

(2)

Includes accretable fair value net purchase discounts of $

28.3

 million and $

29.3

 million as of March 31, 2023 and December 31, 2022, respectively.

Corporation's Aging of Loans Held for Investment Portfolio [Table Text Block]

The Corporation’s aging of the loan portfolio held for investment, as well as information about nonaccrual loans with no ACL, by

portfolio classes as of March 31, 2023 and December 31, 2022 are as follows:

As of March 31, 2023

Days Past Due and Accruing

Current

30-59

60-89

90+

(1) (2) (3)

Nonaccrual

(4)

Total loans held

for investment

Nonaccrual

Loans with no

ACL

(5)

(In thousands)

Residential mortgage loans, mainly secured by first mortgages:

 FHA/VA government-guaranteed loans

(1) (3) (6)

$

67,977

$

-

$

1,869

$

41,723

$

-

$

111,569

$

-

 Conventional residential mortgage loans

(2) (6)

2,626,542

-

23,367

13,640

36,410

2,699,959

2,250

Commercial loans:

 Construction loans 

141,870

-

-

-

1,794

143,664

972

 Commercial mortgage loans

(2) (6)

2,323,116

509

507

7,929

21,598

2,353,659

15,787

 C&I loans 

2,840,568

1,438

424

6,355

13,404

2,862,189

1,858

Consumer loans:

 Auto loans

1,780,593

34,754

6,380

-

11,138

1,832,865

3,342

 Finance leases

743,656

8,056

1,562

-

2,208

755,482

344

 Personal loans

353,214

4,160

2,098

-

1,263

360,735

-

 Credit cards

299,387

3,989

2,518

4,733

-

310,627

-

 Other consumer loans

143,035

1,916

958

-

1,327

147,236

21

 Total loans held for investment

$

11,319,958

$

54,822

$

39,683

$

74,380

$

89,142

$

11,577,985

$

24,574

(1)

It is the Corporation's policy to report delinquent Federal Housing Authority (“FHA”)/Veterans Affairs (“VA”) government-guaranteed residential mortgage loans as past-due loans 90 days and still accruing as opposed

to nonaccrual loans. 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 $

25.9

 million of residential mortgage loans guaranteed by the FHA that were over 15 months delinquent.

(2)

Includes purchased credit deteriorated ("PCD") loans previously accounted for under ASC Subtopic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality" ("ASC Subtopic 310-30") for which

the Corporation made the accounting policy election of maintaining pools of loans 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 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 portion of

such loans contractually past due 90 days or more, amounting to $

10.4

 million as of March 31, 2023 ($

9.4

 million conventional residential mortgage loans and $

1.0

 million commercial mortgage loans), is presented in

the loans past due 90 days or more and still accruing category in the table above.

(3)

Include rebooked loans, which were previously pooled into GNMA securities, amounting to $

7.1

 million as of March 31, 2023. 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.

(4)

Nonaccrual loans in the Florida region amounted to $

15.2

 million as of March 31, 2023, primarily nonaccrual residential mortgage loans and C&I loans.

(5)

Includes $

0.3

 million of nonaccrual C&I loans with no ACL in the Florida region as of March 31, 2023.

(6)

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 March 31, 2023 amounted to $

5.3

 million, $

60.7

 million, and $

1.1

 million,

respectively.

As of December 31, 2022

Days Past Due and Accruing

Current

30-59

60-89

90+

(1)(2)(3)

Nonaccrual

(4)

Total loans held

for investment

Nonaccrual

Loans with no

ACL

(5)

(In thousands)

Residential mortgage loans, mainly secured by first mortgages:

 FHA/VA government-guaranteed loans

(1) (3) (6)

$

67,116

$

-

$

2,586

$

48,456

$

-

$

118,158

$

-

 Conventional residential mortgage loans

(2) (6)

2,643,909

-

25,630

16,821

42,772

2,729,132

2,292

Commercial loans:

 Construction loans

130,617

-

-

128

2,208

132,953

977

 Commercial mortgage loans

(2) (6)

2,330,094

300

2,367

3,771

22,319

2,358,851

15,991

 C&I loans 

2,868,989

1,984

1,128

6,332

7,830

2,886,263

3,300

Consumer loans:

 Auto loans

1,740,271

40,039

7,089

-

10,672

1,798,071

2,136

 Finance leases

707,646

7,148

1,791

-

1,645

718,230

330

 Personal loans

346,366

3,738

1,894

-

1,248

353,246

-

 Credit cards

301,013

3,705

2,238

4,775

-

311,731

-

 Other consumer loans

141,687

1,804

1,458

-

1,241

146,190

-

 Total loans held for investment

$

11,277,708

$

58,718

$

46,181

$

80,283

$

89,935

$

11,552,825

$

25,026

(1)

It is the Corporation's policy to report delinquent FHA/VA government-guaranteed residential mortgage loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans. 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 $

28.2

 million of residential mortgage loans

guaranteed by the FHA that were over 15 months delinquent.

(2)

Includes PCD loans previously accounted for under ASC Subtopic 310-30 for which the Corporation made the accounting policy election of maintaining pools of loans 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 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 portion of such loans contractually past due 90 days or more, amounting to $

12.0

 million as of December 31, 2022 ($

11.0

 million conventional

residential mortgage loans and $

1.0

 million commercial mortgage loans), is presented in the loans past due 90 days or more and still accruing category in the table above.

(3)

Include rebooked loans, which were previously pooled into GNMA securities, amounting to $

10.3

 million as of December 31, 2022. 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.

(4)

Nonaccrual loans in the Florida region amounted to $

8.3

 million as of December 31, 2022, primarily nonaccrual residential mortgage loans.

(5)

Includes $

0.3

 million of nonaccrual C&I loans with no ACL in the Florida region as of December 31, 2022.

(6)

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, 2022 amounted to $

6.1

 million, $

65.2

 million, and $

1.6

 million,

respectively.

Corporation's Credit Quality Indicators by Loan [Table Text Block]

As of March 31, 2023

Puerto Rico and Virgin Islands region

Term Loans

As of December 31, 2022

Amortized Cost Basis by Origination Year

(1)

2023

2022

2021

2020

2019

Prior

Revolving

Loans

Amortized

Cost Basis

Total

Total

(In thousands)

CONSTRUCTION

 Risk Ratings:

 Pass

$

6,479

$

16,509

$

18,842

$

-

$

-

$

3,885

$

-

$

45,715

$

31,879

 Criticized:

 Special Mention

-

-

-

-

-

-

-

-

-

 Substandard

-

-

-

-

-

2,480

-

2,480

2,893

 Doubtful

-

-

-

-

-

-

-

-

-

 Loss

-

-

-

-

-

-

-

-

-

 Total construction loans

$

6,479

$

16,509

$

18,842

$

-

$

-

$

6,365

$

-

$

48,195

$

34,772

 Charge-offs on construction loans

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

COMMERCIAL MORTGAGE

 Risk Ratings:

 Pass

$

67,469

$

391,295

$

139,536

$

325,141

$

301,638

$

400,794

$

478

$

1,626,351

$

1,655,728

 Criticized:

 Special Mention

-

1,177

-

36,546

75

131,350

-

169,148

145,415

 Substandard

-

132

-

-

2,797

30,745

-

33,674

33,061

 Doubtful

-

-

-

-

-

-

-

-

-

 Loss

-

-

-

-

-

-

-

-

-

 Total commercial mortgage loans

$

67,469

$

392,604

$

139,536

$

361,687

$

304,510

$

562,889

$

478

$

1,829,173

$

1,834,204

 Charge-offs on commercial mortgage loans

$

-

$

-

$

-

$

-

$

-

$

18

$

-

$

18

C&I

 Risk Ratings:

 Pass

$

70,739

$

303,603

$

188,155

$

181,284

$

308,225

$

254,283

$

565,758

$

1,872,047

$

1,789,572

 Criticized:

 Special Mention

-

132

839

-

1,029

12,885

32,322

47,207

43,224

 Substandard

-

-

396

652

13,430

7,117

379

21,974

27,313

 Doubtful

-

-

-

-

-

-

-

-

-

 Loss

-

-

-

-

-

-

-

-

-

 Total C&I loans

$

70,739

$

303,735

$

189,390

$

181,936

$

322,684

$

274,285

$

598,459

$

1,941,228

$

1,860,109

 Charge-offs on C&I loans

$

-

$

-

$

-

$

-

$

-

$

63

$

55

$

118

(1) Excludes accrued interest receivable.

As of March 31, 2023

Term Loans

As of December 31, 2022

Florida region

Amortized Cost Basis by Origination Year

(1)

2023

2022

2021

2020

2019

Prior

Revolving

Loans

Amortized

Cost Basis

Total

Total

(In thousands)

CONSTRUCTION

 Risk Ratings:

 Pass

$

107

$

50,019

$

42,867

$

-

$

-

$

-

$

2,476

$

95,469

$

98,181

 Criticized:

 Special Mention

-

-

-

-

-

-

-

-

-

 Substandard

-

-

-

-

-

-

-

-

-

 Doubtful

-

-

-

-

-

-

-

-

-

 Loss

-

-

-

-

-

-

-

-

-

 Total construction loans

$

107

$

50,019

$

42,867

$

-

$

-

$

-

$

2,476

$

95,469

$

98,181

 Charge-offs on construction loans

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

COMMERCIAL MORTGAGE

 Risk Ratings:

 Pass

$

3,529

$

177,392

$

70,147

$

41,024

$

51,320

$

140,177

$

19,551

$

503,140

$

503,184

 Criticized:

 Special Mention

-

-

-

6,947

13,231

-

-

20,178

20,295

 Substandard

-

-

-

1,168

-

-

-

1,168

1,168

 Doubtful

-

-

-

-

-

-

-

-

-

 Loss

-

-

-

-

-

-

-

-

-

 Total commercial mortgage loans

$

3,529

$

177,392

$

70,147

$

49,139

$

64,551

$

140,177

$

19,551

$

524,486

$

524,647

 Charge-offs on commercial mortgage loans

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

C&I

 Risk Ratings:

 Pass

$

36,642

$

276,868

$

134,512

$

75,953

$

183,443

$

72,650

$

92,816

$

872,884

$

979,151

 Criticized:

 Special Mention

-

-

19,677

-

5,974

11,725

-

37,376

17,905

 Substandard

-

-

-

264

195

2,854

300

3,613

29,098

 Doubtful

-

-

-

-

-

7,088

-

7,088

-

 Loss

-

-

-

-

-

-

-

-

-

 Total C&I loans

$

36,642

$

276,868

$

154,189

$

76,217

$

189,612

$

94,317

$

93,116

$

920,961

$

1,026,154

 Charge-offs on C&I loans

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

(1) Excludes accrued interest receivable.

As of March 31, 2023

Total

Term Loans

As of December 31, 2022

Amortized Cost Basis by Origination Year (1)

2023

2022

2021

2020

2019

Prior

Revolving

Loans

Amortized

Cost Basis

Total

Total

(In thousands)

CONSTRUCTION

 Risk Ratings:

 Pass

$

6,586

$

66,528

$

61,709

$

-

$

-

$

3,885

$

2,476

$

141,184

$

130,060

 Criticized:

 Special Mention

-

-

-

-

-

-

-

-

-

 Substandard

-

-

-

-

-

2,480

-

2,480

2,893

 Doubtful

-

-

-

-

-

-

-

-

-

 Loss

-

-

-

-

-

-

-

-

-

 Total construction loans

$

6,586

$

66,528

$

61,709

$

-

$

-

$

6,365

$

2,476

$

143,664

$

132,953

 Charge-offs on construction loans

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

COMMERCIAL MORTGAGE

 Risk Ratings:

 Pass

$

70,998

$

568,687

$

209,683

$

366,165

$

352,958

$

540,971

$

20,029

$

2,129,491

$

2,158,912

 Criticized:

 Special Mention

-

1,177

-

43,493

13,306

131,350

-

189,326

165,710

 Substandard

-

132

-

1,168

2,797

30,745

-

34,842

34,229

 Doubtful

-

-

-

-

-

-

-

-

-

 Loss

-

-

-

-

-

-

-

-

-

 Total commercial mortgage loans

$

70,998

$

569,996

$

209,683

$

410,826

$

369,061

$

703,066

$

20,029

$

2,353,659

$

2,358,851

 Charge-offs on commercial mortgage loans

$

-

$

-

$

-

$

-

$

-

$

18

$

-

$

18

C&I

 Risk Ratings:

 Pass

$

107,381

$

580,471

$

322,667

$

257,237

$

491,668

$

326,933

$

658,574

$

2,744,931

$

2,768,723

 Criticized:

 Special Mention

-

132

20,516

-

7,003

24,610

32,322

84,583

61,129

 Substandard

-

-

396

916

13,625

9,971

679

25,587

56,411

 Doubtful

-

-

-

-

-

7,088

-

7,088

-

 Loss

-

-

-

-

-

-

-

-

-

 Total C&I loans

$

107,381

$

580,603

$

343,579

$

258,153

$

512,296

$

368,602

$

691,575

$

2,862,189

$

2,886,263

 Charge-offs on C&I loans

$

-

$

-

$

-

$

-

$

-

$

63

$

55

$

118

(1) Excludes accrued interest receivable.

The following tables present the amortized cost of residential mortgage loans by portfolio classes and by origination year based on

accrual status as of March 31, 2023, the gross charge-offs for the quarter ended March 31, 2023 by portfolio classes and by origination

year, and the amortized cost of residential mortgage loans by portfolio classes based on accrual status as of December 31, 2022:

As of March 31, 2023

As of

December 31,

2022

Term Loans

Amortized Cost Basis by Origination Year

(1)

2023

2022

2021

2020

2019

Prior

Revolving

Loans

Amortized

Cost Basis

Total

Total

(In thousands)

Puerto Rico and Virgin Islands Region:

FHA/VA government-guaranteed loans

Accrual Status:

Performing

$

-

$

696

$

448

$

765

$

1,557

$

107,368

$

-

$

110,834

$

117,416

Non-Performing

-

-

-

-

-

-

-

-

-

Total FHA/VA government-guaranteed loans

$

-

$

696

$

448

$

765

$

1,557

$

107,368

$

-

$

110,834

$

117,416

Conventional residential mortgage loans:

Accrual Status:

Performing

$

24,859

$

171,599

$

74,692

$

31,497

$

47,705

$

1,891,603

$

-

$

2,241,955

$

2,265,013

Non-Performing

-

-

35

-

-

28,958

-

28,993

35,471

Total conventional residential mortgage loans

$

24,859

$

171,599

$

74,727

$

31,497

$

47,705

$

1,920,561

$

-

$

2,270,948

$

2,300,484

Total:

Accrual Status:

Performing

$

24,859

$

172,295

$

75,140

$

32,262

$

49,262

$

1,998,971

$

-

$

2,352,789

$

2,382,429

Non-Performing

-

-

35

-

-

28,958

-

28,993

35,471

Total residential mortgage loans in Puerto Rico

and Virgin Islands Region

$

24,859

$

172,295

$

75,175

$

32,262

$

49,262

$

2,027,929

$

-

$

2,381,782

$

2,417,900

Charge-offs on residential mortgage loans

$

-

$

-

$

-

$

3

$

-

$

980

$

-

$

983

(1)

Excludes accrued interest receivable.

As of March 31, 2023

As of

December 31,

2022

Term Loans

Amortized Cost Basis by Origination Year

(1)

2023

2022

2021

2020

2019

Prior

Revolving

Loans

Amortized

Cost Basis

Total

Total

(In thousands)

Florida Region:

FHA/VA government-guaranteed loans

Accrual Status:

Performing

$

-

$

-

$

-

$

-

$

-

$

735

$

-

$

735

$

742

Non-Performing

-

-

-

-

-

-

-

-

-

Total FHA/VA government-guaranteed loans

$

-

$

-

$

-

$

-

$

-

$

735

$

-

$

735

$

742

Conventional residential mortgage loans:

Accrual Status:

Performing

$

13,232

$

81,619

$

48,991

$

31,157

$

29,403

$

217,192

$

-

$

421,594

$

421,347

Non-Performing

-

-

-

-

265

7,152

-

7,417

7,301

Total conventional residential mortgage loans

$

13,232

$

81,619

$

48,991

$

31,157

$

29,668

$

224,344

$

-

$

429,011

$

428,648

Total:

Accrual Status:

Performing

$

13,232

$

81,619

$

48,991

$

31,157

$

29,403

$

217,927

$

-

$

422,329

$

422,089

Non-Performing

-

-

-

-

265

7,152

-

7,417

7,301

Total residential mortgage loans in Florida region

$

13,232

$

81,619

$

48,991

$

31,157

$

29,668

$

225,079

$

-

$

429,746

$

429,390

Charge-offs on residential mortgage loans

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

(1)

Excludes accrued interest receivable.

As of March 31, 2023

As of

December 31,

2022

Term Loans

Amortized Cost Basis by Origination Year

(1)

2023

2022

2021

2020

2019

Prior

Revolving

Loans

Amortized

Cost Basis

Total

Total

(In thousands)

Total:

FHA/VA government-guaranteed loans

Accrual Status:

Performing

$

-

$

696

$

448

$

765

$

1,557

$

108,103

$

-

$

111,569

$

118,158

Non-Performing

-

-

-

-

-

-

-

-

-

Total FHA/VA government-guaranteed loans

$

-

$

696

$

448

$

765

$

1,557

$

108,103

$

-

$

111,569

$

118,158

Conventional residential mortgage loans:

Accrual Status:

Performing

$

38,091

$

253,218

$

123,683

$

62,654

$

77,108

$

2,108,795

$

-

$

2,663,549

$

2,686,360

Non-Performing

-

-

35

-

265

36,110

-

36,410

42,772

Total conventional residential mortgage loans

$

38,091

$

253,218

$

123,718

$

62,654

$

77,373

$

2,144,905

$

-

$

2,699,959

$

2,729,132

Total:

Accrual Status:

Performing

$

38,091

$

253,914

$

124,131

$

63,419

$

78,665

$

2,216,898

$

-

$

2,775,118

$

2,804,518

Non-Performing

-

-

35

-

265

36,110

-

36,410

42,772

Total residential mortgage loans

$

38,091

$

253,914

$

124,166

$

63,419

$

78,930

$

2,253,008

$

-

$

2,811,528

$

2,847,290

Charge-offs on residential mortgage loans

$

-

$

-

$

-

$

3

$

-

$

980

$

-

$

983

(1)

Excludes accrued interest receivable.

The following tables present the amortized cost of consumer loans by portfolio classes and by origination year based on accrual

status as of March 31, 2023, the gross charge-offs for the quarter ended March 31, 2023 by portfolio classes and by origination, and

the amortized cost of consumer loans by portfolio classes based on accrual status as of December 31, 2022:

As of March 31, 2023

As of

December 31,

2022

Term Loans

Amortized Cost Basis by Origination Year

(1)

2023

2022

2021

2020

2019

Prior

Revolving

Loans

Amortized

Cost Basis

Total

Total

(In thousands)

Puerto Rico and Virgin Islands Regions:

Auto loans:

Accrual Status:

Performing

$

165,925

$

638,402

$

478,373

$

234,358

$

186,331

$

115,561

$

-

$

1,818,950

$

1,783,782

Non-Performing

-

2,419

2,243

1,347

2,708

2,399

-

11,116

10,596

Total auto loans

$

165,925

$

640,821

$

480,616

$

235,705

$

189,039

$

117,960

$

-

$

1,830,066

$

1,794,378

Charge-offs on auto loans

$

19

$

1,827

$

1,210

$

467

$

632

$

365

$

-

$

4,520

Finance leases:

Accrual Status:

Performing

$

78,870

$

282,486

$

183,061

$

82,206

$

74,421

$

52,230

$

-

$

753,274

$

716,585

Non-Performing

-

551

222

433

376

626

-

2,208

1,645

Total finance leases

$

78,870

$

283,037

$

183,283

$

82,639

$

74,797

$

52,856

$

-

$

755,482

$

718,230

Charge-offs on finance leases

$

-

$

227

$

270

$

97

$

185

$

200

$

-

$

979

Personal loans:

Accrual Status:

Performing

$

44,647

$

163,311

$

49,275

$

25,703

$

46,765

$

29,411

$

-

$

359,112

$

351,664

Non-Performing

-

490

188

117

229

239

-

1,263

1,248

Total personal loans

$

44,647

$

163,801

$

49,463

$

25,820

$

46,994

$

29,650

$

-

$

360,375

$

352,912

Charge-offs on personal loans

$

-

$

1,517

$

840

$

279

$

680

$

384

$

-

$

3,700

Credit cards:

Accrual Status:

Performing

$

-

$

-

$

-

$

-

$

-

$

-

$

310,627

$

310,627

$

311,731

Non-Performing

-

-

-

-

-

-

-

-

-

Total credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

310,627

$

310,627

$

311,731

Charge-offs on credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

4,057

$

4,057

Other consumer loans:

Accrual Status:

Performing

$

23,413

$

66,230

$

17,612

$

8,219

$

9,851

$

6,468

$

8,700

$

140,493

$

139,116

Non-Performing

-

540

171

59

104

230

98

1,202

1,122

Total other consumer loans

$

23,413

$

66,770

$

17,783

$

8,278

$

9,955

$

6,698

$

8,798

$

141,695

$

140,238

Charge-offs on other consumer loans

$

14

$

1,842

$

762

$

174

$

326

$

178

$

91

$

3,387

Total:

Performing

$

312,855

$

1,150,429

$

728,321

$

350,486

$

317,368

$

203,670

$

319,327

$

3,382,456

$

3,302,878

Non-Performing

-

4,000

2,824

1,956

3,417

3,494

98

15,789

14,611

Total consumer loans in Puerto Rico and Virgin

Islands region

$

312,855

$

1,154,429

$

731,145

$

352,442

$

320,785

$

207,164

$

319,425

$

3,398,245

$

3,317,489

Charge-offs on total consumer loans

$

33

$

5,413

$

3,082

$

1,017

$

1,823

$

1,127

$

4,148

$

16,643

(1)

Excludes accrued interest receivable.

As of March 31, 2023

As of

December 31,

2022

Term Loans

Amortized Cost Basis by Origination Year

(1)

2023

2022

2021

2020

2019

Prior

Revolving

Loans

Amortized

Cost Basis

Total

Total

(In thousands)

Florida Region:

Auto loans:

Accrual Status:

Performing

$

-

$

-

$

-

$

-

$

259

$

2,518

$

-

$

2,777

$

3,617

Non-Performing

-

-

-

-

-

22

-

22

76

Total auto loans

$

-

$

-

$

-

$

-

$

259

$

2,540

$

-

$

2,799

$

3,693

Charge-offs on auto loans

$

-

$

-

$

-

$

-

$

8

$

147

$

-

$

155

Finance leases:

Accrual Status:

Performing

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Non-Performing

-

-

-

-

-

-

-

-

-

Total finance leases

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Charge-offs on finance leases

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Personal loans:

Accrual Status:

Performing

$

274

$

8

$

71

$

7

$

-

$

-

$

-

$

360

$

334

Non-Performing

-

-

-

-

-

-

-

-

-

Total personal loans

$

274

$

8

$

71

$

7

$

-

$

-

$

-

$

360

$

334

Charge-offs on personal loans

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Credit cards:

Accrual Status:

Performing

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Non-Performing

-

-

-

-

-

-

-

-

-

Total credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Charge-offs on credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Other consumer loans:

Accrual Status:

Performing

$

-

$

49

$

229

$

460

$

-

$

2,455

$

2,223

$

5,416

$

5,833

Non-Performing

-

-

-

-

-

21

104

125

119

Total other consumer loans

$

-

$

49

$

229

$

460

$

-

$

2,476

$

2,327

$

5,541

$

5,952

Charge-offs on other consumer loans

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Total:

Performing

$

274

$

57

$

300

$

467

$

259

$

4,973

$

2,223

$

8,553

$

9,784

Non-Performing

-

-

-

-

-

43

104

147

195

Total consumer loans in Florida region

$

274

$

57

$

300

$

467

$

259

$

5,016

$

2,327

$

8,700

$

9,979

Charge-offs on total consumer loans

$

-

$

-

$

-

$

-

$

8

$

147

$

-

$

155

(1)

Excludes accrued interest receivable.

As of March 31, 2023

As of

December 31,

2022

Term Loans

Amortized Cost Basis by Origination Year

(1)

2023

2022

2021

2020

2019

Prior

Revolving

Loans

Amortized

Cost Basis

Total

Total

(In thousands)

Total:

Auto loans:

Accrual Status:

Performing

$

165,925

$

638,402

$

478,373

$

234,358

$

186,590

$

118,079

$

-

$

1,821,727

$

1,787,399

Non-Performing

-

2,419

2,243

1,347

2,708

2,421

-

11,138

10,672

Total auto loans

$

165,925

$

640,821

$

480,616

$

235,705

$

189,298

$

120,500

$

-

$

1,832,865

$

1,798,071

Charge-offs on auto loans

$

19

$

1,827

$

1,210

$

467

$

640

$

512

$

-

$

4,675

Finance leases:

Accrual Status:

Performing

$

78,870

$

282,486

$

183,061

$

82,206

$

74,421

$

52,230

$

-

$

753,274

$

716,585

Non-Performing

-

551

222

433

376

626

-

2,208

1,645

Total finance leases

$

78,870

$

283,037

$

183,283

$

82,639

$

74,797

$

52,856

$

-

$

755,482

$

718,230

Charge-offs on finance leases

$

-

$

227

$

270

$

97

$

185

$

200

$

-

$

979

Personal loans:

Accrual Status:

Performing

$

44,921

$

163,319

$

49,346

$

25,710

$

46,765

$

29,411

$

-

$

359,472

$

351,998

Non-Performing

-

490

188

117

229

239

-

1,263

1,248

Total personal loans

$

44,921

$

163,809

$

49,534

$

25,827

$

46,994

$

29,650

$

-

$

360,735

$

353,246

Charge-offs on personal loans

$

-

$

1,517

$

840

$

279

$

680

$

384

$

-

$

3,700

Credit cards:

Accrual Status:

Performing

$

-

$

-

$

-

$

-

$

-

$

-

$

310,627

$

310,627

$

311,731

Non-Performing

-

-

-

-

-

-

-

-

-

Total credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

310,627

$

310,627

$

311,731

Charge-offs on credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

4,057

$

4,057

Other consumer loans:

Accrual Status:

Performing

$

23,413

$

66,279

$

17,841

$

8,679

$

9,851

$

8,923

$

10,923

$

145,909

$

144,949

Non-Performing

-

540

171

59

104

251

202

1,327

1,241

Total other consumer loans

$

23,413

$

66,819

$

18,012

$

8,738

$

9,955

$

9,174

$

11,125

$

147,236

$

146,190

Charge-offs on other consumer loans

$

14

$

1,842

$

762

$

174

$

326

$

178

$

91

$

3,387

Total:

Performing

$

313,129

$

1,150,486

$

728,621

$

350,953

$

317,627

$

208,643

$

321,550

$

3,391,009

$

3,312,662

Non-Performing

-

4,000

2,824

1,956

3,417

3,537

202

15,936

14,806

Total consumer loans

$

313,129

$

1,154,486

$

731,445

$

352,909

$

321,044

$

212,180

$

321,752

$

3,406,945

$

3,327,468

Charge-offs on total consumer loans

$

33

$

5,413

$

3,082

$

1,017

$

1,831

$

1,274

$

4,148

$

16,798

(1)

Excludes accrued interest receivable.

Collateral Pledged [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Loan Portfolio Held for Investment [Table Text Block]

As of March 31, 2023

Collateral Dependent Loans -

With Allowance

Collateral Dependent

Loans - With No

Related Allowance

Collateral Dependent Loans - Total

Amortized Cost 

Related

Allowance

Amortized Cost

Amortized Cost 

Related

Allowance

(In thousands)

Residential mortgage loans:

Conventional residential mortgage loans

$

34,257

$

2,410

$

152

$

34,409

$

2,410

Commercial loans:

Construction loans

-

-

956

956

-

Commercial mortgage loans

2,449

896

61,851

64,300

896

C&I loans 

1,789

347

13,331

15,120

347

Consumer loans:

Personal loans

55

1

-

55

1

Other consumer loans

-

-

-

-

-

$

38,550

$

3,654

$

76,290

$

114,840

$

3,654

As of December 31, 2022

Collateral Dependent Loans -

With Allowance

Collateral Dependent

Loans - With No

Related Allowance

Collateral Dependent Loans - Total

Amortized Cost 

Related

Allowance

Amortized Cost 

Amortized Cost 

Related

Allowance

(In thousands)

Residential mortgage loans:

Conventional residential mortgage loans

$

36,206

$

2,571

$

-

$

36,206

$

2,571

Commercial loans:

Construction loans

-

-

956

956

-

Commercial mortgage loans

2,466

897

62,453

64,919

897

C&I loans 

1,513

322

17,590

19,103

322

Consumer loans:

Personal loans

56

1

64

120

1

Other consumer loans

207

29

-

207

29

$

40,448

$

3,820

$

81,063

$

121,511

$

3,820

TDR [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Troubled Debt Restructurings On Financing Receivables Table [Text Block]

The following table presents the amortized cost basis as of March 31, 2023 of loans modified to borrowers experiencing financial

difficulty during the quarter ended March 31, 2023, by portfolio classes and type of modification granted, and the percentage of these

modified loans relative to the total period-end amortized cost basis of receivables in the portfolio class:

Quarter Ended March 31, 2023

Payment Delay Only

Forbearance

Payment

Plan

Trial

Modification

Interest

Rate

Reduction

Term

Extension

Combination of

Interest Rate

Reduction and

Term Extension

Forgiveness

of principal

and/or

interest

Other

Total

Percentage of

Total by

Portfolio

Classes

(In thousands)

Conventional residential mortgage loans

$

-

$

-

$

332

$

-

$

433

$

115

$

-

$

-

$

880

0.03%

Construction loans

-

-

-

-

-

-

-

-

-

-

Commercial mortgage loans

-

-

-

-

-

-

-

-

-

-

C&I loans

-

-

-

-

-

-

-

40

(1)

40

0.00%

Consumer loans:

Auto loans

-

-

-

-

89

38

-

584

(1)

711

0.04%

Personal loans

-

-

-

-

28

14

-

-

42

0.01%

Credit cards

-

-

-

289

(2)

-

-

-

-

289

0.09%

Other consumer loans

-

-

-

-

132

60

-

26

(1)

218

0.15%

 Total modifications

$

-

$

-

$

332

$

289

$

682

$

227

$

-

$

650

$

2,180

(1)

Modification consists of court mandated reduction to 0% interest rate for remaining loan term to borrowers in bankruptcy proceedings unless dismissal occurs.

(2)

Modification consists of reduction in interest rate and revocation of revolving line privileges.

The following table presents the financial effects of the modifications granted to borrowers experiencing financial difficulty

during the quarter ended March 31, 2023, by portfolio classes, other than those associated to payment delay. The qualitative financial

effects of the modifications associated to payment delay were discussed above, and as such, were excluded from the table below:

Quarter Ended March 31, 2023

Combination of Interest Rate Reduction

and Term Extension

Weighted-Average

Interest Rate

Reduction (%)

Weighted-Average

Term Extension (in

months)

Weighted-Average

Interest Rate

Reduction (%)

Weighted-Average

Term Extension (in

months)

Weighted-Average

Forgiveness of

Principal and/or

Interest

(In thousands)

Conventional residential mortgage loans

-

98

2.11%

141

$

-

Construction loans

-

-

-

-

-

Commercial mortgage loans

-

-

-

-

-

C&I loans

-

-

-

-

-

Consumer loans:

Auto loans

-

22

2.88%

28

-

Personal loans

-

30

3.36%

12

-

Credit cards

16.04%

-

-

-

-

Other consumer loans

-

27

1.96%

26

-

The following table presents the performance of loans modified during the quarter ended March 31, 2023 that were granted to

borrowers experiencing financial difficulty, by portfolio classes:

Quarter Ended March 31, 2023

30-59

60-89

90+

Total

Delinquency

Current

Total

(In thousands)

Conventional residential mortgage loans

$

-

$

-

$

-

$

-

$

880

$

880

Construction loans

-

-

-

-

-

-

Commercial mortgage loans

-

-

-

-

-

-

C&I loans

-

-

-

-

40

40

Consumer loans:

Auto loans

44

138

-

182

529

711

Personal loans

-

-

-

-

42

42

Credit cards

103

89

-

192

97

289

Other consumer loans

-

-

-

-

218

218

 Total modifications

$

147

$

227

$

-

$

374

$

1,806

$

2,180

Quarter Ended March 31, 2022

Interest rate

below market

Maturity or

term extension

Combination of

reduction in

interest rate and

extension of

maturity

Forgiveness of

principal and/or

interest

Other

(1)

Total

(In thousands)

Conventional residential mortgage loans

$

215

$

731

$

190

$

-

$

1,857

$

2,993

Construction loans

-

-

-

-

-

-

Commercial mortgage loans

-

-

-

-

-

-

C&I loans

-

-

-

-

5

5

Consumer loans:

Auto loans

792

54

147

-

-

993

Finance leases

-

246

-

-

18

264

Personal loans

-

60

18

-

-

78

Credit cards

(2)

189

-

-

-

-

189

Other consumer loans

33

106

-

9

-

148

Total TDRs

$

1,229

$

1,197

$

355

$

9

$

1,880

$

4,670

(1)

Other concessions granted by the Corporation include payment plans under judicial stipulation or loss mitigation programs, 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.

(2)

Concession consists of reduction in interest rate and revocation of revolving line privileges.

Quarter Ended March 31, 2022

Number of contracts

Pre-modification Amortized

Cost

Post-modification Amortized

Cost

(Dollars in thousands)

Conventional residential mortgage loans

23

$

2,996

$

2,993

Construction loans

-

-

-

Commercial mortgage loans

-

-

-

C&I loans

1

5

5

Consumer loans:

 Auto loans

51

995

993

 Finance leases

13

264

264

 Personal loans

5

78

78

 Credit Cards

44

189

189

 Other consumer loans

27

146

148

 Total TDRs

164

$

4,673

$

4,670

Quarter Ended March 31, 2022

Number of contracts

Amortized Cost

(Dollars in thousands)

Conventional residential mortgage loans

3

$

389

Construction loans

-

-

Commercial mortgage loans

-

-

C&I loans

-

-

Consumer loans:

 Auto loans

24

522

 Finance leases

1

16

 Personal loans

-

-

 Credit cards

11

79

 Other consumer loans

2

11

 Total TDRs

41

$

1,017