Allowance for credit losses - loans held-in-portfolio

12 Months Ended

Dec. 31, 2024

Allowance For Credit Loss [Abstract]

Allowance for credit losses

Note 8 – Allowance for credit losses – loans held-in-portfolio

The

Corporation follows the current expected credit loss (“CECL”) model, to establish and evaluate the adequacy of the ACL to

provide for expected losses in the loan portfolio. This model establishes a forward-looking methodology that reflects the expected

credit losses over the lives of financial assets, starting when such assets are first acquired or originated. In addition, CECL provides

that the initial ACL on PCD financial assets be recorded as an increase to the purchase price, with subsequent changes to the

allowance recorded as a credit loss expense. The provision for credit losses recorded in current operations is based on this

methodology. Loan losses are charged, and recoveries are credited to the ACL. The Corporation’s modeling framework includes

competing risk models that generate lifetime default and prepayment estimates as well as other loan level techniques to estimate

loss severity. These models combine credit risk factors, which include the impact of loan modifications, with macroeconomic

expectations to derive the lifetime expected loss. 

As part of the Corporation’s model governance procedures, a new model was implemented during the fourth quarter of 2024 for the

P.R. commercial real estate non-owner occupied segment. The new model revisits the selection of macroeconomic and loan level

variables to address the underlying risks of the loan segment. The new model yielded a reduction of $

13.5

 million in BPPR’s ACL

during the fourth quarter of 2024. Continued strength in the Puerto Rico labor market and stable credit metrics for this portfolio

contributed in the reduction in reserves.

At December 31, 2024, the Corporation estimated the ACL by weighting the outputs of optimistic, baseline, and pessimistic

scenarios. Among the three scenarios used to estimate the ACL, the baseline is assigned the highest probability, followed by the

pessimistic scenario given the uncertainties in the economic outlook and downside risk. The weightings applied are subject to

evaluation on a quarterly basis as part of the ACL’s governance process. The Corporation evaluates, at least on an annual basis,

the assumptions tied to the CECL accounting framework. These include the reasonable and supportable period as well as the

reversion window.

The following tables present the changes in the ACL of loans held-in-portfolio and unfunded commitments for the years ended

December 31, 2024 and 2023.

For the year ended December 31, 2024

BPPR

Provision for

Allowance for

Beginning

credit losses

credit losses -

Ending

(In thousands)

Balance

(benefit)

PCD Loans

Charge-off

Recoveries

Balance

Allowance for credit losses - loans:

Commercial

Commercial multi-family

$

3,614

$

(834)

$

-

$

-

$

3

$

2,783

Commercial real estate non-owner occupied

53,754

(9,630)

-

(128)

856

44,852

Commercial real estate owner occupied

40,637

(4,196)

-

(2,793)

3,707

37,355

Commercial and industrial

107,577

40,418

-

(24,555)

6,696

130,136

Total Commercial

205,582

25,758

-

(27,476)

11,262

215,126

Construction

5,294

(3,587)

-

-

1,036

2,743

Mortgage

72,440

(13,580)

34

(1,084)

15,091

72,901

Leasing

9,708

18,967

-

(16,975)

4,719

16,419

Consumer

Credit cards

80,487

78,024

-

(69,731)

10,350

99,130

Home equity lines of credit

103

(45)

-

(380)

376

54

Personal

101,181

78,574

-

(98,669)

10,210

91,296

Auto

157,931

68,096

-

(85,400)

25,368

165,995

Other

7,132

1,621

-

(2,801)

1,050

7,002

Total Consumer

346,834

226,270

-

(256,981)

47,354

363,477

Total - Loans

$

639,858

$

253,828

$

34

$

(302,516)

$

79,462

$

670,666

Allowance for credit losses - unfunded commitments:

Commercial

$

5,062

$

1,663

$

-

$

-

$

-

$

6,725

Construction

1,618

45

-

-

-

1,663

Ending balance - unfunded commitments [1]

$

6,680

$

1,708

$

-

$

-

$

-

$

8,388

[1]

Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

For the year ended December 31, 2024

Popular U.S.

Provision for 

Beginning

credit losses -

Ending

(In thousands)

Balance

(benefit)

Charge-offs

Recoveries

Balance

Allowance for credit losses - loans:

Commercial

Commercial multi-family

$

10,126

$

(3,243)

$

(441)

$

11

$

6,453

Commercial real estate non-owner occupied

11,699

(2,533)

(54)

530

9,642

Commercial real estate owner occupied

16,227

(3,721)

(154)

121

12,473

Commercial and industrial

14,779

4,304

(3,978)

765

15,870

Total Commercial

52,831

(5,193)

(4,627)

1,427

44,438

Construction

7,392

1,029

-

100

8,521

Mortgage

10,774

(1,381)

(18)

133

9,508

Consumer

Home equity lines of credit

1,875

(1,181)

(53)

808

1,449

Personal

16,609

11,278

(19,203)

2,756

11,440

Other

2

61

(101)

40

2

Total Consumer

18,486

10,158

(19,357)

3,604

12,891

Total - Loans

$

89,483

$

4,613

$

(24,002)

$

5,264

$

75,358

Allowance for credit losses - unfunded commitments:

Commercial

$

1,851

$

(189)

$

-

$

-

$

1,662

Construction

8,446

(3,037)

-

-

5,409

Consumer

29

(18)

-

-

11

Ending balance - unfunded commitments [1]

$

10,326

$

(3,244)

$

-

$

-

$

7,082

[1]

Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

For the year ended December 31, 2024

Popular Inc.

Provision for

Allowance for

Beginning

credit losses

credit losses -

Ending

(In thousands)

Balance

(benefit)

PCD Loans

Charge-offs

Recoveries

Balance

Allowance for credit losses - loans:

Commercial

Commercial multi-family

$

13,740

$

(4,077)

$

-

$

(441)

$

14

$

9,236

Commercial real estate non-owner occupied

65,453

(12,163)

-

(182)

1,386

54,494

Commercial real estate owner occupied

56,864

(7,917)

-

(2,947)

3,828

49,828

Commercial and industrial

122,356

44,722

-

(28,533)

7,461

146,006

Total Commercial

258,413

20,565

-

(32,103)

12,689

259,564

Construction

12,686

(2,558)

-

-

1,136

11,264

Mortgage

83,214

(14,961)

34

(1,102)

15,224

82,409

Leasing

9,708

18,967

-

(16,975)

4,719

16,419

Consumer

Credit cards

80,487

78,024

-

(69,731)

10,350

99,130

Home equity lines of credit

1,978

(1,226)

-

(433)

1,184

1,503

Personal

117,790

89,852

-

(117,872)

12,966

102,736

Auto

157,931

68,096

-

(85,400)

25,368

165,995

Other

7,134

1,682

-

(2,902)

1,090

7,004

Total Consumer

365,320

236,428

-

(276,338)

50,958

376,368

Total - Loans

$

729,341

$

258,441

$

34

$

(326,518)

$

84,726

$

746,024

Allowance for credit losses - unfunded commitments:

Commercial

$

6,913

$

1,474

$

-

$

-

$

-

$

8,387

Construction

10,064

(2,992)

-

-

-

7,072

Consumer

29

(18)

-

-

-

11

Ending balance - unfunded commitments [1]

$

17,006

$

(1,536)

$

-

$

-

$

-

$

15,470

[1]

Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

For the year ended December 31, 2023

BPPR

Impact of

Provision for

Allowance for

Beginning

Adopting

credit losses

credit losses -

Net write

Ending

(In thousands)

Balance

ASU 2022-02

(benefit)

PCD Loans

Charge-offs

Recoveries

down

Balance

Allowance for credit losses - loans:

Commercial

Commercial multi-family

$

5,210

$

-

$

(1,597)

$

-

$

-

$

1

$

-

$

3,614

Commercial real estate non-owner occupied

52,475

-

980

-

(1,130)

1,429

-

53,754

Commercial real estate owner occupied

48,393

(1,161)

(5,495)

-

(4,437)

3,337

-

40,637

Commercial and industrial

68,217

(552)

29,911

-

(7,739)

17,740

-

107,577

Total Commercial

174,295

(1,713)

23,799

-

(13,306)

22,507

-

205,582

Construction

2,978

-

4,926

-

(2,611)

1

-

5,294

Mortgage

117,344

(33,556)

(25,295)

89

(1,638)

15,496

-

72,440

Leasing

20,618

(35)

(3,836)

-

(10,879)

3,840

-

9,708

Consumer

Credit cards

58,670

-

54,649

-

(41,007)

8,776

(601)

80,487

Home equity lines of credit

103

-

(155)

-

(213)

368

-

103

Personal

96,369

(7,020)

74,226

-

(71,977)

9,583

-

101,181

Auto

129,735

(21)

63,185

-

(55,306)

20,338

-

157,931

Other

15,433

-

3,335

-

(12,454)

818

-

7,132

Total Consumer

300,310

(7,041)

195,240

-

(180,957)

39,883

(601)

346,834

Total - Loans

$

615,545

$

(42,345)

$

194,834

$

89

$

(209,391)

$

81,727

$

(601)

$

639,858

Allowance for credit losses - unfunded commitments:

Commercial

$

4,336

$

-

$

726

$

-

$

-

$

-

$

-

$

5,062

Construction

2,022

-

(404)

-

-

-

-

1,618

Ending balance - unfunded commitments [1]

$

6,358

$

-

$

322

$

-

$

-

$

-

$

-

$

6,680

[1]

Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

For the year ended December 31, 2023

Popular U.S.

Impact of

Provision for

Beginning

Adopting

credit losses

Ending

(In thousands)

Balance

ASU 2022-02

(benefit)

Charge-offs

Recoveries

Balance

Allowance for credit losses - loans:

Commercial

Commercial multi-family

$

21,101

$

-

$

(10,980)

$

-

$

5

$

10,126

Commercial real estate non-owner occupied

19,065

-

(9,222)

(193)

2,049

11,699

Commercial real estate owner occupied

8,688

-

8,851

(1,395)

83

16,227

Commercial and industrial

12,227

-

4,557

(3,875)

1,870

14,779

Total Commercial

61,081

-

(6,794)

(5,463)

4,007

52,831

Construction

1,268

-

6,124

-

-

7,392

Mortgage

17,910

(2,098)

(5,248)

-

210

10,774

Consumer

Credit cards

-

-

1

(1)

-

-

Home equity lines of credit

2,439

-

(1,058)

(471)

965

1,875

Personal

22,057

(1,140)

13,521

(19,971)

2,142

16,609

Other

2

-

159

(171)

12

2

Total Consumer

24,498

(1,140)

12,623

(20,614)

3,119

18,486

Total - Loans

$

104,757

$

(3,238)

$

6,705

$

(26,077)

$

7,336

$

89,483

Allowance for credit losses - unfunded commitments:

Commercial

$

1,175

$

-

$

676

$

-

$

-

$

1,851

Construction

1,184

-

7,262

-

-

8,446

Consumer

88

-

(59)

-

-

29

Ending balance - unfunded commitments [1]

$

2,447

$

-

$

7,879

$

-

$

-

$

10,326

[1]

Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

For the year ended December 31, 2023

Popular Inc.

Impact

Provision for

Allowance

for

Beginning

of adopting

credit losses

credit losses

-

Net write

Ending

(In thousands)

Balance

ASU 2022-02

(benefit)

PCD Loans

Charge-offs

Recoveries

down

Balance

Allowance for credit losses - loans:

Commercial

Commercial multi-family

$

26,311

$

-

$

(12,577)

$

-

$

-

$

6

$

-

$

13,740

Commercial real estate non-owner occupied

71,540

-

(8,242)

-

(1,323)

3,478

-

65,453

Commercial real estate owner occupied

57,081

(1,161)

3,356

-

(5,832)

3,420

-

56,864

Commercial and industrial

80,444

(552)

34,468

-

(11,614)

19,610

-

122,356

Total Commercial

235,376

(1,713)

17,005

-

(18,769)

26,514

-

258,413

Construction

4,246

-

11,050

-

(2,611)

1

-

12,686

Mortgage

135,254

(35,654)

(30,543)

89

(1,638)

15,706

-

83,214

Leasing

20,618

(35)

(3,836)

-

(10,879)

3,840

-

9,708

Consumer

Credit cards

58,670

-

54,650

-

(41,008)

8,776

(601)

80,487

Home equity lines of credit

2,542

-

(1,213)

-

(684)

1,333

-

1,978

Personal

118,426

(8,160)

87,747

-

(91,948)

11,725

-

117,790

Auto

129,735

(21)

63,185

-

(55,306)

20,338

-

157,931

Other

15,435

-

3,494

-

(12,625)

830

-

7,134

Total Consumer

324,808

(8,181)

207,863

-

(201,571)

43,002

(601)

365,320

Total - Loans

$

720,302

$

(45,583)

$

201,539

$

89

$

(235,468)

$

89,063

$

(601)

$

729,341

Allowance for credit losses - unfunded commitments:

Commercial

$

5,511

$

-

$

1,402

$

-

$

-

$

-

$

-

$

6,913

Construction

3,206

-

6,858

-

-

-

-

10,064

Consumer

88

-

(59)

-

-

-

-

29

Ending balance - unfunded commitments [1]

$

8,805

$

-

$

8,201

$

-

$

-

$

-

$

-

$

17,006

[1]

Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.

Modifications

A modification constitutes a change in loan terms in the form of principal forgiveness, an interest rate reduction, other than-

insignificant payment delay, term extension or combination of the above made to a borrower experiencing financial difficulty.

The amount of outstanding commitments to lend additional funds to debtors with financial difficulties owing receivables whose terms

have been modified during the years ended December 31, 2024 and December 31, 2023 amounted to $

75

 million and $

21

 million,

respectively, related to the commercial loan portfolios.

The following tables show the amortized cost basis of the loans modified to borrowers experiencing financial difficulties at the end of

the reporting period disaggregated by class of financing receivable and type of concession granted for the years ended December

31, 2024 and December 31, 2023. Loans modified to borrowers experiencing financial difficulties that were fully paid down, charged-

off or foreclosed upon by period end are not reported.

Loan Modifications Made to Borrowers Experiencing Financial Difficulty for the year ended December 31, 2024

Interest Rate Reduction

BPPR

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

CRE owner occupied

$

169

0.01

%

$

-

-

%

$

169

0.01

%

Commercial and industrial

3,472

0.06

%

-

-

%

3,472

0.04

%

Mortgage

42

-

%

-

-

%

42

-

%

Consumer:

 Credit cards

853

0.07

%

-

-

%

853

0.07

%

 Personal

2,941

0.17

%

-

-

%

2,941

0.16

%

 Other

23

0.01

%

-

-

%

23

0.01

%

Total

$

7,500

0.03

%

$

-

-

%

$

7,500

0.02

%

Term Extension

BPPR

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Commercial multi-family

$

-

-

%

$

5,818

0.28

%

$

5,818

0.24

%

CRE non-owner occupied

36,585

1.13

%

-

-

%

36,585

0.68

%

CRE owner occupied

20,431

1.48

%

5,993

0.34

%

26,424

0.84

%

Commercial and industrial

24,820

0.46

%

684

0.03

%

25,504

0.33

%

Construction

576

0.27

%

-

-

%

576

0.05

%

Mortgage

51,238

0.75

%

1,460

0.11

%

52,698

0.65

%

Consumer:

 Personal

683

0.04

%

17

0.02

%

700

0.04

%

 Auto

83

-

%

-

-

%

83

-

%

Total

$

134,416

0.51

%

$

13,972

0.13

%

$

148,388

0.40

%

Other-Than-Insignificant Payment Delays

BPPR

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

CRE non-owner occupied

$

455

0.01

%

$

-

-

%

$

455

0.01

%

CRE owner occupied

20,399

1.48

%

-

-

%

20,399

0.65

%

Commercial and industrial

104,423

1.95

%

-

-

%

104,423

1.35

%

Mortgage

175

-

%

-

-

%

175

-

%

Total

$

125,452

0.48

%

$

-

-

%

$

125,452

0.34

%

Combination - Term Extension and Interest Rate Reduction

BPPR

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

CRE non-owner occupied

$

885

0.03

%

$

-

-

%

$

885

0.02

%

CRE owner occupied

143,886

10.46

%

-

-

%

143,886

4.56

%

Commercial and industrial

644

0.01

%

-

-

%

644

0.01

%

Mortgage

14,674

0.22

%

66

0.01

%

14,740

0.18

%

Consumer:

 Personal

8,662

0.49

%

329

0.31

%

8,991

0.48

%

Total

$

168,751

0.64

%

$

395

-

%

$

169,146

0.46

%

Combination - Other-Than-Insignificant Payment Delays and Interest Rate Reduction

Puerto Rico

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2024

% of total class of

Financing

Receivable

CRE owner occupied

$

1,033

0.08

%

$

-

-

%

$

1,033

0.03

%

Commercial and industrial

440

0.01

%

-

-

%

440

0.01

%

Consumer:

 Credit cards

3,511

0.29

%

-

-

%

3,511

0.29

%

Total

$

4,984

0.02

%

$

-

-

%

$

4,984

0.01

%

Loan Modifications Made to Borrowers Experiencing Financial Difficulty for the year ended December 31, 2023

Interest Rate Reduction

BPPR

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

CRE owner occupied

$

141,291

10.10

%

$

-

-

%

$

141,291

4.59

%

Commercial and industrial

70

-

%

-

-

%

70

-

%

Mortgage

301

-

%

-

-

%

301

-

%

Consumer:

 Credit cards

700

0.06

%

-

-

%

700

0.06

%

 Personal

783

0.04

%

2

-

%

785

0.04

%

 Other

6

-

%

-

-

%

6

-

%

Total

$

143,151

0.58

%

$

2

-

%

$

143,153

0.41

%

Term Extension

BPPR

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

CRE non-owner occupied

$

33,318

1.11

%

$

-

-

%

$

33,318

0.65

%

CRE owner occupied

4,921

0.35

%

60,669

3.61

%

65,590

2.13

%

Commercial and industrial

39,445

0.82

%

250

0.01

%

39,695

0.56

%

Construction

-

-

%

5,990

0.76

%

5,990

0.62

%

Mortgage

53,447

0.84

%

5,450

0.42

%

58,897

0.77

%

Consumer:

 Personal

413

0.02

%

129

0.08

%

542

0.03

%

 Auto

91

-

%

-

-

%

91

-

%

Total

$

131,635

0.54

%

$

72,488

0.69

%

$

204,123

0.58

%

Other-Than-Insignificant Payment Delays

BPPR

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

CRE non-owner occupied

$

1,854

0.06

%

$

-

-

%

$

1,854

0.04

%

CRE owner occupied

16,068

1.15

%

13,468

0.80

%

29,536

0.96

%

Commercial and industrial

10,545

0.22

%

814

0.03

%

11,359

0.16

%

Mortgage

137

-

%

-

-

%

137

-

%

Total

$

28,604

0.12

%

$

14,282

0.14

%

$

42,886

0.12

%

Combination - Term Extension and Interest Rate Reduction

BPPR

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Commercial multi-family

$

65

0.02

%

$

-

-

%

$

65

-

%

CRE non-owner occupied

19,983

0.66

%

-

-

%

19,983

0.39

%

CRE owner occupied

14,416

1.03

%

-

-

%

14,416

0.47

%

Commercial and industrial

335

0.01

%

-

-

%

335

-

%

Mortgage

37,179

0.58

%

405

0.03

%

37,584

0.49

%

Consumer:

 Personal

2,318

0.13

%

62

0.04

%

2,380

0.12

%

 Auto

27

-

%

-

-

%

27

-

%

Total

$

74,323

0.30

%

$

467

-

%

$

74,790

0.21

%

Combination - Other-Than-Insignificant Payment Delays and Interest Rate Reduction

Puerto Rico

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

CRE non-owner occupied

$

180

0.01

%

$

-

-

$

180

-

%

Commercial and industrial

199

-

%

-

-

199

-

%

Consumer:

 Credit cards

814

0.07

%

-

-

814

0.07

%

Total

$

1,193

-

%

$

-

-

$

1,193

-

%

Combination - Other-Than-Insignificant Payment Delays and Principal Forgiveness

Puerto Rico

Popular U.S.

Popular, Inc.

(Dollars in thousands)

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

Amortized Cost

Basis at

December 31,

2023

% of total class of

Financing

Receivable

CRE owner occupied

$

158

0.01

%

$

-

-

$

158

0.01

%

Total

$

158

-

%

$

-

-

$

158

-

%

The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulties:

For the year ended December 31, 2024

Interest rate reduction

Loan Type

Financial Effect

CRE Non-owner occupied

Reduced weighted-average contractual interest rate from

10.1

% to

8.3

%.

CRE Owner occupied

Reduced weighted-average contractual interest rate from

6.7

% to

5.8

%.

Commercial and industrial

Reduced weighted-average contractual interest rate from

21.6

% to

9.6

%.

Mortgage

Reduced weighted-average contractual interest rate from

6.1

% to

4.4

%.

Consumer:

Credit cards

Reduced weighted-average contractual interest rate from

21.2

% to

7.6

%.

Personal

Reduced weighted-average contractual interest rate from

19.8

% to

10.6

%.

Other

Reduced weighted-average contractual interest rate from

18

.0% to

0

.0%.

Term extension

Loan Type

Financial Effect

Commercial multi-family

Added a weighted-average of

4

 months to the life of loans.

CRE Non-owner occupied

Added a weighted-average of

1

 year to the life of loans.

CRE Owner occupied

Added a weighted-average of

21

 months to the life of loans.

Commercial and industrial

Added a weighted-average of

21

 months to the life of loans.

Construction

Added a weighted-average of

2

 months to the life of loans.

Mortgage

Added a weighted-average of

12

 years to the life of loans.

Consumer:

Personal

Added a weighted-average of

7

 years to the life of loans.

Auto

Added a weighted-average of

3

 years to the life of loans.

Other than insignificant payment delay

Loan Type

Financial Effect

CRE Non-owner occupied

Added a weighted-average of

13

 months to the life of loans.

CRE Owner occupied

Added a weighted-average of

6

 months to the life of loans.

Commercial and industrial

Added a weighted-average of

12

 months to the life of loans.

Mortgage

Added a weighted-average of

53

 months to the life of loans.

Consumer:

Credit cards

Added a weighted-average of

16

 months to the life of loans.

For the year ended December 31, 2023

Interest rate reduction

Loan Type

Financial Effect

Commercial multi-family

Reduced weighted-average contractual interest rate from

7.5

% to

5.3

%.

CRE Non-owner occupied

Reduced weighted-average contractual interest rate from

9.1

% to

7.3

%.

CRE Owner occupied

Reduced weighted-average contractual interest rate from

8.4

% to

6.6

%.

Commercial and industrial

Reduced weighted-average contractual interest rate from

17.8

% to

7.8

%.

Mortgage

Reduced weighted-average contractual interest rate from

5.8

% to

4.2

%.

Consumer:

Credit cards

Reduced weighted-average contractual interest rate from

18.8

% to

4.5

%.

Personal

Reduced weighted-average contractual interest rate from

17.8

% to

9.3

%.

Auto

Reduced weighted-average contractual interest rate from

12.64

% to

12.62

%.

Other

Reduced weighted-average contractual interest rate from

18

.0% to

0

.0%.

Term extension

Loan Type

Financial Effect

Commercial multi-family

Added a weighted-average of

43

 years to the life of loans.

CRE Non-owner occupied

Added a weighted-average of

20

 months to the life of loans.

CRE Owner occupied

Added a weighted-average of

1

 year to the life of loans.

Commercial and industrial

Added a weighted-average of

2

 years to the life of loans.

Construction

Added a weighted-average of

1

 year to the life of loans.

Mortgage

Added a weighted-average of

11

 years to the life of loans.

Consumer:

Personal

Added a weighted-average of

8

 years to the life of loans.

Auto

Added a weighted-average of

2

 years to the life of loans.

Principal forgiveness

Loan Type

Financial Effect

CRE Owner occupied

Reduced the amortized cost basis of the loans by $

88

 thousand.

Other than insignificant payment delay

Loan Type

Financial Effect

CRE Non-owner occupied

Added a weighted-average of

11

 months to the life of loans.

CRE Owner occupied

Added a weighted-average of

9

 months to the life of loans.

Commercial and industrial

Added a weighted-average of

7

 months to the life of loans.

Mortgage

Added a weighted-average of

40

 months to the life of loans.

Consumer:

Credit cards

Added a weighted-average of

25

 months to the life of loans.

The following tables present, by class, the performance of loans that have been modified during the twelve months preceding

December 31, 2024. The past due 90 days or more categories includes all loans modified classified as non-accruing at the time of

the modification. These loans will continue in non-accrual status, and presented as past due 90 days or more, until the borrower has

demonstrated a willingness and ability to make the restructured loan payments (at least six months of sustained performance after

the modification or one year for loans providing for quarterly or semi-annual payments) and management has concluded that it is

probable that the borrower would not be in payment default in the foreseeable future.

BPPR

 December 31, 2024

Past Due 90 days or more [1]

(In thousands)

30-59 days

60-89 days

Past due 90

days or more

Total past

due

Current

Total

With Payment

Default

Without

Payment Default

CRE non-owner occupied

$

-

$

-

$

1,340

$

1,340

$

36,585

$

37,925

$

-

$

1,340

CRE owner occupied

5,509

112

2,347

7,968

177,950

185,918

-

2,347

Commercial and industrial

217

108

4,701

5,026

128,773

133,799

399

4,302

Construction

-

-

-

-

576

576

-

-

Mortgage

5,253

4,127

20,236

29,616

36,513

66,129

7,679

12,557

Consumer:

 Credit cards

491

347

630

1,468

2,896

4,364

362

268

 Personal

288

201

2,047

2,536

9,750

12,286

190

1,857

 Auto

-

-

-

-

83

83

-

-

 Other

-

-

-

-

23

23

-

-

Total

$

11,758

$

4,895

$

31,301

$

47,954

$

393,149

$

441,103

$

8,630

$

22,671

[1] Loans that were in non-accrual status at the time of modification are presented as past due until the borrower has demonstrated a willingness and ability

to make the restructured loan payments. Payment default is defined as a restructured loan becoming 90 days past due after being modified, foreclosed or

charged-off, whichever occurs first. The recorded investment as of period end is inclusive of all partial paydowns and charge-offs since the modification

date. Loans modified with financial difficulty that were fully paid down, charged-off or foreclosed upon by period end are not reported.

Popular U.S.

 December 31, 2024

Past Due 90 days or more [1]

(In thousands)

30-59 days

60-89 days

Past due 90

days or more

Total past

due

Current

Total

With Payment

Default

Without

Payment Default

Commercial multi-family

$

-

$

-

$

-

$

-

$

5,818

5,818

$

-

$

-

CRE owner occupied

-

-

-

-

5,993

5,993

-

-

Commercial and industrial

-

-

-

-

684

684

-

-

Mortgage

-

-

736

736

790

1,526

-

736

Consumer:

 Personal

11

5

98

114

232

346

15

83

Total

$

11

$

5

$

834

$

850

$

13,517

$

14,367

$

15

$

819

[1] Loans that were in non-accrual status at the time of modification are presented as past due until the borrower has demonstrated a willingness and ability

to make the restructured loan payments. Payment default is defined as a restructured loan becoming 90 days past due after being modified, foreclosed or

charged-off, whichever occurs first. The recorded investment as of period end is inclusive of all partial paydowns and charge-offs since the modification

date. Loans modified with financial difficulty that were fully paid down, charged-off or foreclosed upon by period end are not reported.

Popular Inc.

 December 31, 2024

Past Due 90 days or more [1]

(In thousands)

30-59 days

60-89 days

Past due 90

days or more

Total past

due

Current

Total

With Payment

Default

Without

Payment Default

Commercial multi-family

$

-

$

-

$

-

$

-

$

5,818

$

5,818

$

-

$

-

CRE non-owner occupied

-

-

1,340

1,340

36,585

37,925

-

1,340

CRE owner occupied

5,509

112

2,347

7,968

183,943

191,911

-

2,347

Commercial and industrial

217

108

4,701

5,026

129,457

134,483

399

4,302

Construction

-

-

-

-

576

576

-

-

Mortgage

5,253

4,127

20,972

30,352

37,303

67,655

7,679

13,293

Consumer:

 Credit cards

491

347

630

1,468

2,896

4,364

362

268

 Personal

299

206

2,145

2,650

9,982

12,632

205

1,940

 Auto

-

-

-

-

83

83

-

-

 Other

-

-

-

-

23

23

-

-

Total

$

11,769

$

4,900

$

32,135

$

48,804

$

406,666

$

455,470

$

8,645

$

23,490

[1] Loans that were in non-accrual status at the time of modification are presented as past due until the borrower has demonstrated a willingness and ability

to make the restructured loan payments. Payment default is defined as a restructured loan becoming 90 days past due after being modified, foreclosed or

charged-off, whichever occurs first. The recorded investment as of period end is inclusive of all partial paydowns and charge-offs since the modification

date. Loans modified with financial difficulty that were fully paid down, charged-off or foreclosed upon by period end are not reported.

The following tables present, by class, the performance of loans that have been modified during the year ended December 31,

2023.

BPPR

 December 31, 2023

Past Due 90 days or more [1]

(In thousands)

30-59 days

60-89 days

Past due 90

days or more

Total past

due

Current

Total

With Payment

Default

Without

Payment Default

Commercial multi-family

$

-

$

-

$

65

$

65

$

-

$

65

$

-

$

65

CRE non-owner occupied

-

-

2,094

2,094

53,241

55,335

-

2,094

CRE owner occupied

339

-

2,267

2,606

174,248

176,854

-

2,267

Commercial and industrial

2,519

77

14,881

17,477

33,117

50,594

556

14,325

Mortgage

7,520

3,358

28,128

39,006

52,058

91,064

8,319

19,809

Consumer:

 Credit cards

59

51

294

404

1,110

1,514

176

118

 Personal

140

-

817

957

2,557

3,514

63

754

 Auto

-

-

15

15

103

118

-

15

 Other

-

-

-

-

6

6

-

-

Total

$

10,577

$

3,486

$

48,561

$

62,624

$

316,440

$

379,064

$

9,114

$

39,447

[1] Loans that were in non-accrual status at the time of modification are presented as past due until the borrower has demonstrated a willingness and ability

to make the restructured loan payments. Payment default is defined as a restructured loan becoming 90 days past due after being modified, foreclosed or

charged-off, whichever occurs first. The recorded investment as of period end is inclusive of all partial paydowns and charge-offs since the modification

date. Loans modified with financial difficulty that were fully paid down, charged-off or foreclosed upon by period end are not reported.

Popular U.S.

 December 31, 2023

Past Due 90 days or more [1]

(In thousands)

30-59 days

60-89 days

Past due 90

days or more

Total past

due

Current

Total

With Payment

Default

Without

Payment Default

CRE owner occupied

$

-

$

-

$

-

$

-

$

74,137

$

74,137

$

-

$

-

Commercial and industrial

-

250

-

250

814

1,064

-

-

Construction

-

-

-

-

5,990

5,990

-

-

Mortgage

-

-

388

388

5,467

5,855

-

388

Consumer:

 Personal

-

-

125

125

68

193

-

125

Total

$

-

$

250

$

513

$

763

$

86,476

$

87,239

$

-

$

513

[1] Loans that were in non-accrual status at the time of modification are presented as past due until the borrower has demonstrated a willingness and ability

to make the restructured loan payments. Payment default is defined as a restructured loan becoming 90 days past due after being modified, foreclosed or

charged-off, whichever occurs first. The recorded investment as of period end is inclusive of all partial paydowns and charge-offs since the modification

date. Loans modified with financial difficulty that were fully paid down, charged-off or foreclosed upon by period end are not reported.

Popular Inc.

 December 31, 2023

Past Due 90 days or more [1]

(In thousands)

30-59 days

60-89 days

Past due 90

days or more

Total past

due

Current

Total

With Payment

Default

Without

Payment Default

Commercial multi-family

$

-

$

-

$

65

$

65

$

-

$

65

$

-

$

65

CRE non-owner occupied

-

-

2,094

2,094

53,241

55,335

-

2,094

CRE owner occupied

339

-

2,267

2,606

248,385

250,991

-

2,267

Commercial and industrial

2,519

327

14,881

17,727

33,931

51,658

556

14,325

Construction

-

-

-

-

5,990

5,990

-

-

Mortgage

7,520

3,358

28,516

39,394

57,525

96,919

8,319

20,197

Consumer:

 Credit cards

59

51

294

404

1,110

1,514

176

118

 Personal

140

-

942

1,082

2,625

3,707

63

879

 Auto

-

-

15

15

103

118

-

15

 Other

-

-

-

-

6

6

-

-

Total

$

10,577

$

3,736

$

49,074

$

63,387

$

402,916

$

466,303

$

9,114

$

39,960

[1] Loans that were in non-accrual status at the time of modification are presented as past due until the borrower has demonstrated a willingness and ability

to make the restructured loan payments. Payment default is defined as a restructured loan becoming 90 days past due after being modified, foreclosed or

charged-off, whichever occurs first. The recorded investment as of period end is inclusive of all partial paydowns and charge-offs since the modification

date. Loans modified with financial difficulty that were fully paid down, charged-off or foreclosed upon by period end are not reported.

Payment default is defined as a restructured loan becoming 90 days past due after being modified, foreclosed or charged-off,

whichever occurs first. During the year ended December 31, 2024, the outstanding balance of loans modified for borrowers under

financial difficulties that were subject to payment default and that had been modified during the twelve months preceding the default

date was $

33

 million (2023 - $

10

 million). 

Loans subject to payment default during the year ended December 31, 2024 which were modified during the year preceding the

default date were:

●

Interest rate reduction - $

1

 million; 

●

Extension of maturity - $

28

 million (2023 - $

8

 million); and 

●

Combination of interest rate reduction and extension of maturity - $

4

 million (2023 - $

2

 million)..

Credit Quality

The Corporation has defined a risk rating system to assign a rating to all credit exposures, particularly for the commercial and

construction loan portfolios. Risk ratings in the aggregate provide the Corporation’s management the asset quality profile for the

loan portfolio. The risk rating system provides for the assignment of ratings at the obligor level based on the financial condition of the

borrower. The risk rating analysis process is performed at least once a year or more frequently if events or conditions change which

may deteriorate the credit quality. In the case of consumer and mortgage loans, these loans are classified considering their

delinquency status at the end of the reporting period.

The Corporation’s obligor risk rating scales range from rating 1 (Excellent) to rating 14 (Loss). The obligor risk rating reflects the risk

of payment default of a borrower in the ordinary course of business. 

Pass Credit Classifications:

Pass (Scales 1 through 8) – Loans classified as pass have a well defined primary source of repayment, with no apparent

risk, strong financial position, minimal operating risk, profitability, liquidity and strong capitalization. 

Watch (Scale 9) – Loans classified as watch have acceptable business credit, but borrower’s operations, cash flow or

financial condition evidence more than average risk, requires above average levels of supervision and attention from Loan

Officers.

Special Mention (Scale 10) - Loans classified as special mention have potential weaknesses that deserve management’s

close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for

the loan or of the Corporation’s credit position at some future date. 

Adversely Classified Classifications:

Substandard (Scales 11 and 12) - Loans classified as substandard are deemed to be inadequately protected by the

current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans classified as such have

well-defined weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that

the institution will sustain some loss if the deficiencies are not corrected. 

Doubtful (Scale 13) - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard,

with the additional characteristic that the weaknesses make the collection or liquidation in full, on the basis of currently

existing facts, conditions, and values, highly questionable and improbable. 

Loss (Scale 14) - Uncollectible and of such little value that continuance as a bankable asset is not warranted. This

classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or

desirable to defer writing off this asset even though partial recovery may be effected in the future.

Risk ratings scales 10 through 14 conform to regulatory ratings. The assignment of the obligor risk rating is based on relevant

information about the ability of borrowers to service their debts such as current financial information, historical payment experience,

credit documentation, public information, and current economic trends, among other factors. 

The following tables present the amortized cost basis, net of unearned income, of loans held-in-portfolio based on the Corporation’s

assignment of obligor risk ratings as defined at December 31, 2024 and 2023 by vintage year.

December 31, 2024

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2024

2023

2022

2021

2020

Prior 

Years

Total

BPPR

Commercial:

Commercial multi-family

Pass

$

50,384

$

37,211

$

136,093

$

20,939

$

20,134

$

34,009

$

105

$

-

$

298,875

Watch

-

-

541

-

-

1,601

-

-

2,142

Special Mention

-

-

-

-

-

3,161

-

-

3,161

Substandard

-

-

-

-

-

3,823

-

-

3,823

Total commercial

multi-family

$

50,384

$

37,211

$

136,634

$

20,939

$

20,134

$

42,594

$

105

$

-

$

308,001

Commercial real estate non-owner occupied

Pass

$

419,200

$

322,998

$

828,404

$

547,674

$

335,060

$

525,088

$

6,159

$

-

$

2,984,583

Watch

26,097

2,296

654

5,349

28,832

50,924

72

-

114,224

Special Mention

7,018

41,274

156

406

-

46,390

-

-

95,244

Substandard

-

1,002

110

26,430

1,954

22,956

-

-

52,452

Total commercial

real estate non-

owner occupied

$

452,315

$

367,570

$

829,324

$

579,859

$

365,846

$

645,358

$

6,231

$

-

$

3,246,503

Year-to-Date gross

write-offs

$

-

$

-

$

69

$

-

$

-

$

59

$

-

$

-

$

128

Commercial real estate owner occupied

Pass

$

131,449

$

79,109

$

94,008

$

214,520

$

46,206

$

309,791

$

7,214

$

-

$

882,297

Watch

14,002

2,637

64,735

7,225

4,890

85,580

3

-

179,072

Special Mention

-

1,209

19,436

19,288

-

15,872

1,499

-

57,304

Substandard

455

1,651

20,528

3,872

140,579

77,098

13,021

-

257,204

Doubtful

-

-

-

-

-

34

-

-

34

Total commercial

real estate owner

occupied

$

145,906

$

84,606

$

198,707

$

244,905

$

191,675

$

488,375

$

21,737

$

-

$

1,375,911

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

2,793

$

-

$

-

$

2,793

Commercial and industrial

Pass

$

790,273

$

910,355

$

602,454

$

304,227

$

66,395

$

331,493

$

1,495,490

$

-

$

4,500,687

Watch

124,987

24,935

49,497

6,394

3,465

31,609

135,811

-

376,698

Special Mention

5,519

7,316

1,895

157,627

53

30,360

28,171

-

230,941

Substandard

6,063

30,496

37,558

4,203

14,776

23,135

122,275

-

238,506

Doubtful

-

-

-

-

-

11

-

-

11

Loss

-

-

-

-

-

-

51

-

51

Total commercial

and industrial

$

926,842

$

973,102

$

691,404

$

472,451

$

84,689

$

416,608

$

1,781,798

$

-

$

5,346,894

Year-to-Date gross

write-offs

$

1,099

$

707

$

331

$

122

$

2,838

$

11,841

$

7,617

$

-

$

24,555

Construction

Pass

$

63,107

$

53,070

$

33,423

$

14,908

$

9,483

$

1,011

$

16,782

$

-

$

191,784

Watch

-

13,872

-

-

-

-

-

-

13,872

Special Mention

-

-

-

6,058

-

-

-

-

6,058

Substandard

-

-

-

576

-

-

-

-

576

Total construction

$

63,107

$

66,942

$

33,423

$

21,542

$

9,483

$

1,011

$

16,782

$

-

$

212,290

Mortgage

Pass

$

879,075

$

724,383

$

409,133

$

401,113

$

234,486

$

4,085,088

$

-

$

-

$

6,733,278

Substandard

-

1,961

1,331

1,675

347

71,289

-

-

76,603

Total mortgage

$

879,075

$

726,344

$

410,464

$

402,788

$

234,833

$

4,156,377

$

-

$

-

$

6,809,881

Year-to-Date gross

write-offs

$

-

$

9

$

-

$

8

$

-

$

1,067

$

-

$

-

$

1,084

December 31, 2024

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2024

2023

2022

2021

2020

Prior 

Years

Total

BPPR

Leasing

Pass

$

731,053

$

477,226

$

362,426

$

217,537

$

104,812

$

22,762

$

-

$

-

$

1,915,816

Substandard

1,195

2,280

2,834

1,885

920

402

-

-

9,516

Loss

-

-

-

-

-

73

-

-

73

Total leasing

$

732,248

$

479,506

$

365,260

$

219,422

$

105,732

$

23,237

$

-

$

-

$

1,925,405

Year-to-Date gross

write-offs

$

1,733

$

4,842

$

5,373

$

3,281

$

694

$

1,052

$

-

$

-

$

16,975

Consumer:

Credit cards

Pass

$

-

$

-

$

-

$

-

$

-

$

-

$

1,188,093

$

-

$

1,188,093

Substandard

-

-

-

-

-

-

29,960

-

29,960

Total credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

1,218,053

$

-

$

1,218,053

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

69,731

$

-

$

69,731

HELOCs

Pass

$

-

$

-

$

-

$

-

$

-

$

-

$

2,040

$

-

$

2,040

Total HELOCs

$

-

$

-

$

-

$

-

$

-

$

-

$

2,040

$

-

$

2,040

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

380

$

-

$

380

Personal

Pass

$

722,949

$

499,604

$

262,011

$

101,155

$

29,078

$

91,004

$

-

$

23,802

$

1,729,603

Substandard

924

4,965

3,561

1,221

271

8,205

-

1,626

20,773

Loss

-

-

-

1

-

-

-

-

1

Total Personal

$

723,873

$

504,569

$

265,572

$

102,377

$

29,349

$

99,209

$

-

$

25,428

$

1,750,377

Year-to-Date gross

write-offs

$

2,362

$

39,193

$

38,077

$

10,822

$

2,708

$

3,525

$

-

$

1,982

$

98,669

Auto

Pass

$

1,277,016

$

938,769

$

665,431

$

494,529

$

254,621

$

133,054

$

-

$

-

$

3,763,420

Substandard

7,239

16,876

13,579

10,775

6,377

5,131

-

-

59,977

Loss

14

15

-

2

-

9

-

-

40

Total Auto

$

1,284,269

$

955,660

$

679,010

$

505,306

$

260,998

$

138,194

$

-

$

-

$

3,823,437

Year-to-Date gross

write-offs

$

11,229

$

36,992

$

20,486

$

9,997

$

4,965

$

1,731

$

-

$

-

$

85,400

Other consumer

Pass

$

28,543

$

29,585

$

20,021

$

10,129

$

4,588

$

3,364

$

62,678

$

-

$

158,908

Substandard

-

228

44

-

29

57

413

-

771

Loss

-

-

-

550

-

-

-

-

550

Total Other

consumer

$

28,543

$

29,813

$

20,065

$

10,679

$

4,617

$

3,421

$

63,091

$

-

$

160,229

Year-to-Date gross

write-offs

$

29

$

213

$

130

$

96

$

128

$

2,205

$

-

$

-

$

2,801

Total BPPR

$

5,286,562

$

4,225,323

$

3,629,863

$

2,580,268

$

1,307,356

$

6,014,384

$

3,109,837

$

25,428

$

26,179,021

December 31, 2024

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2024

2023

2022

2021

2020

Prior

Years

Total

Popular U.S.

Commercial:

Commercial multi-family

Pass

$

139,370

$

148,423

$

491,750

$

313,610

$

207,327

$

560,891

$

5,700

$

-

$

1,867,071

Watch

-

10,974

27,441

26,679

10,668

114,419

-

-

190,181

Special Mention

-

-

8,004

-

-

-

-

-

8,004

Substandard

-

-

2,761

-

-

23,602

-

-

26,363

Total commercial

multi-family

$

139,370

$

159,397

$

529,956

$

340,289

$

217,995

$

698,912

$

5,700

$

-

$

2,091,619

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

441

$

-

$

-

$

441

Commercial real estate non-owner occupied

Pass

$

178,355

$

368,597

$

480,055

$

167,839

$

193,309

$

456,689

$

8,588

$

-

$

1,853,432

Watch

-

12,932

17,125

13,138

45,864

64,390

300

-

153,749

Special Mention

-

-

-

-

-

594

-

-

594

Substandard

-

-

2,657

2,741

5,758

97,801

-

-

108,957

Total commercial real

estate non-owner

occupied

$

178,355

$

381,529

$

499,837

$

183,718

$

244,931

$

619,474

$

8,888

$

-

$

2,116,732

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

54

$

-

$

-

$

54

Commercial real estate owner occupied

Pass

$

304,778

$

257,586

$

244,811

$

279,419

$

35,459

$

246,158

$

7,669

$

-

$

1,375,880

Watch

-

25,614

13,531

32,132

16,301

54,877

-

-

142,455

Special Mention

-

488

69,505

34,428

27,406

10,825

-

-

142,652

Substandard

-

-

17,101

2,596

3,678

97,473

-

-

120,848

Total commercial real

estate owner

occupied

$

304,778

$

283,688

$

344,948

$

348,575

$

82,844

$

409,333

$

7,669

$

-

$

1,781,835

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

154

$

-

$

-

$

154

Commercial and industrial

Pass

$

260,479

$

275,971

$

318,564

$

322,697

$

268,591

$

506,973

$

273,222

$

-

$

2,226,497

Watch

-

11,420

48,953

28,138

9,521

35,498

15,050

-

148,580

Special Mention

58

-

5,270

568

-

255

3,835

-

9,986

Substandard

2,276

-

-

195

45

1,610

5,479

-

9,605

Total commercial

and industrial

$

262,813

$

287,391

$

372,787

$

351,598

$

278,157

$

544,336

$

297,586

$

-

$

2,394,668

Year-to-Date gross

write-offs

$

1,103

$

1,571

$

190

$

300

$

211

$

480

$

123

$

-

$

3,978

Construction

Pass

$

259,194

$

512,428

$

155,268

$

-

$

-

$

765

$

-

$

-

$

927,655

Watch

-

1,541

36,264

-

-

7,172

24,691

-

69,668

Special Mention

-

4,897

6,367

-

-

-

-

-

11,264

Substandard

-

-

8,104

-

-

25,473

9,338

-

42,915

Total construction

$

259,194

$

518,866

$

206,003

$

-

$

-

$

33,410

$

34,029

$

-

$

1,051,502

Mortgage

Pass

$

98,345

$

88,788

$

215,600

$

272,908

$

216,025

$

382,746

$

-

$

-

$

1,274,412

Substandard

-

644

106

860

-

28,280

-

-

29,890

Total mortgage

$

98,345

$

89,432

$

215,706

$

273,768

$

216,025

$

411,026

$

-

$

-

$

1,304,302

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

18

$

-

$

-

$

18

December 31, 2024

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2024

2023

2022

2021

2020

Prior

Years

Total

Popular U.S.

Consumer:

Credit cards

Pass

$

-

$

-

$

-

$

-

$

-

$

-

$

26

$

-

$

26

Total credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

26

$

-

$

26

HELOCs

Pass

$

-

$

-

$

-

$

-

$

-

$

5,914

$

50,533

$

11,691

$

68,138

Substandard

-

-

-

-

-

1,657

15

700

2,372

Loss

-

-

-

-

-

122

-

899

1,021

Total HELOCs

$

-

$

-

$

-

$

-

$

-

$

7,693

$

50,548

$

13,290

$

71,531

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

53

$

-

$

53

Personal

Pass

$

28,083

$

23,084

$

41,182

$

8,618

$

651

$

1,507

$

-

$

-

$

103,125

Substandard

157

399

627

134

7

302

-

-

1,626

Loss

53

10

-

5

-

48

-

-

116

Total Personal

$

28,293

$

23,493

$

41,809

$

8,757

$

658

$

1,857

$

-

$

-

$

104,867

Year-to-Date gross

write-offs

$

802

$

4,536

$

10,869

$

2,458

$

231

$

307

$

-

$

-

$

19,203

Other consumer

Pass

$

-

$

-

$

-

$

-

$

-

$

-

$

11,537

$

-

$

11,537

Substandard

-

-

-

-

-

-

12

-

12

Total Other

consumer

$

-

$

-

$

-

$

-

$

-

$

-

$

11,549

$

-

$

11,549

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

101

$

-

$

101

Total Popular U.S.

$

1,271,148

$

1,743,796

$

2,211,046

$

1,506,705

$

1,040,610

$

2,726,041

$

415,995

$

13,290

$

10,928,631

December 31, 2024

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2024

2023

2022

2021

2020

Prior

Years

Total

Popular, Inc.

Commercial:

Commercial multi-family

Pass

$

189,754

$

185,634

$

627,843

$

334,549

$

227,461

$

594,900

$

5,805

$

-

$

2,165,946

Watch

-

10,974

27,982

26,679

10,668

116,020

-

-

192,323

Special Mention

-

-

8,004

-

-

3,161

-

-

11,165

Substandard

-

-

2,761

-

-

27,425

-

-

30,186

Total commercial

multi-family

$

189,754

$

196,608

$

666,590

$

361,228

$

238,129

$

741,506

$

5,805

$

-

$

2,399,620

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

441

$

-

$

-

$

441

Commercial real estate non-owner occupied

Pass

$

597,555

$

691,595

$

1,308,459

$

715,513

$

528,369

$

981,777

$

14,747

$

-

$

4,838,015

Watch

26,097

15,228

17,779

18,487

74,696

115,314

372

-

267,973

Special Mention

7,018

41,274

156

406

-

46,984

-

-

95,838

Substandard

-

1,002

2,767

29,171

7,712

120,757

-

-

161,409

Total commercial

real estate non-

owner occupied

$

630,670

$

749,099

$

1,329,161

$

763,577

$

610,777

$

1,264,832

$

15,119

$

-

$

5,363,235

Year-to-Date gross

write-offs

$

-

$

-

$

69

$

-

$

-

$

113

$

-

$

-

$

182

Commercial real estate owner occupied

Pass

$

436,227

$

336,695

$

338,819

$

493,939

$

81,665

$

555,949

$

14,883

$

-

$

2,258,177

Watch

14,002

28,251

78,266

39,357

21,191

140,457

3

-

321,527

Special Mention

-

1,697

88,941

53,716

27,406

26,697

1,499

-

199,956

Substandard

455

1,651

37,629

6,468

144,257

174,571

13,021

-

378,052

Doubtful

-

-

-

-

-

34

-

-

34

Total commercial

real estate owner

occupied

$

450,684

$

368,294

$

543,655

$

593,480

$

274,519

$

897,708

$

29,406

$

-

$

3,157,746

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

2,947

$

-

$

-

$

2,947

Commercial and industrial

Pass

$

1,050,752

$

1,186,326

$

921,018

$

626,924

$

334,986

$

838,466

$

1,768,712

$

-

$

6,727,184

Watch

124,987

36,355

98,450

34,532

12,986

67,107

150,861

-

525,278

Special Mention

5,577

7,316

7,165

158,195

53

30,615

32,006

-

240,927

Substandard

8,339

30,496

37,558

4,398

14,821

24,745

127,754

-

248,111

Doubtful

-

-

-

-

-

11

-

-

11

Loss

-

-

-

-

-

-

51

-

51

Total commercial

and industrial

$

1,189,655

$

1,260,493

$

1,064,191

$

824,049

$

362,846

$

960,944

$

2,079,384

$

-

$

7,741,562

Year-to-Date gross

write-offs

$

2,202

$

2,278

$

521

$

422

$

3,049

$

12,321

$

7,740

$

-

$

28,533

December 31, 2024

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2024

2023

2022

2021

2020

Prior

Years

Total

Popular, Inc.

Construction

Pass

$

322,301

$

565,498

$

188,691

$

14,908

$

9,483

$

1,776

$

16,782

$

-

$

1,119,439

Watch

-

15,413

36,264

-

-

7,172

24,691

-

83,540

Special Mention

-

4,897

6,367

6,058

-

-

-

-

17,322

Substandard

-

-

8,104

576

-

25,473

9,338

-

43,491

Total construction

$

322,301

$

585,808

$

239,426

$

21,542

$

9,483

$

34,421

$

50,811

$

-

$

1,263,792

Mortgage

Pass

$

977,420

$

813,171

$

624,733

$

674,021

$

450,511

$

4,467,834

$

-

$

-

$

8,007,690

Substandard

-

2,605

1,437

2,535

347

99,569

-

-

106,493

Total mortgage

$

977,420

$

815,776

$

626,170

$

676,556

$

450,858

$

4,567,403

$

-

$

-

$

8,114,183

Year-to-Date gross

write-offs

$

-

$

9

$

-

$

8

$

-

$

1,085

$

-

$

-

$

1,102

Leasing

Pass

$

731,053

$

477,226

$

362,426

$

217,537

$

104,812

$

22,762

$

-

$

-

$

1,915,816

Substandard

1,195

2,280

2,834

1,885

920

402

-

-

9,516

Loss

-

-

-

-

-

73

-

-

73

Total leasing

$

732,248

$

479,506

$

365,260

$

219,422

$

105,732

$

23,237

$

-

$

-

$

1,925,405

Year-to-Date gross

write-offs

$

1,733

$

4,842

$

5,373

$

3,281

$

694

$

1,052

$

-

$

-

$

16,975

December 31, 2024

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2024

2023

2022

2021

2020

Prior

Years

Total

Popular, Inc.

Consumer:

Credit cards

Pass

$

-

$

-

$

-

$

-

$

-

$

-

$

1,188,119

$

-

$

1,188,119

Substandard

-

-

-

-

-

-

29,960

-

29,960

Total credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

1,218,079

$

-

$

1,218,079

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

69,731

$

-

$

69,731

HELOCs

Pass

$

-

$

-

$

-

$

-

$

-

$

5,914

$

52,573

$

11,691

$

70,178

Substandard

-

-

-

-

-

1,657

15

700

2,372

Loss

-

-

-

-

-

122

-

899

1,021

Total HELOCs

$

-

$

-

$

-

$

-

$

-

$

7,693

$

52,588

$

13,290

$

73,571

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

433

$

-

$

433

Personal

Pass

$

751,032

$

522,688

$

303,193

$

109,773

$

29,729

$

92,511

$

-

$

23,802

$

1,832,728

Substandard

1,081

5,364

4,188

1,355

278

8,507

-

1,626

22,399

Loss

53

10

-

6

-

48

-

-

117

Total Personal

$

752,166

$

528,062

$

307,381

$

111,134

$

30,007

$

101,066

$

-

$

25,428

$

1,855,244

Year-to-Date gross

write-offs

$

3,164

$

43,729

$

48,946

$

13,280

$

2,939

$

3,832

$

-

$

1,982

$

117,872

Auto

Pass

$

1,277,016

$

938,769

$

665,431

$

494,529

$

254,621

$

133,054

$

-

$

-

$

3,763,420

Substandard

7,239

16,876

13,579

10,775

6,377

5,131

-

-

59,977

Loss

14

15

-

2

-

9

-

-

40

Total Auto

$

1,284,269

$

955,660

$

679,010

$

505,306

$

260,998

$

138,194

$

-

$

-

$

3,823,437

Year-to-Date gross

write-offs

$

11,229

$

36,992

$

20,486

$

9,997

$

4,965

$

1,731

$

-

$

-

$

85,400

Other consumer

Pass

$

28,543

$

29,585

$

20,021

$

10,129

$

4,588

$

3,364

$

74,215

$

-

$

170,445

Substandard

-

228

44

-

29

57

425

-

783

Loss

-

-

-

550

-

-

-

-

550

Total Other

consumer

$

28,543

$

29,813

$

20,065

$

10,679

$

4,617

$

3,421

$

74,640

$

-

$

171,778

Year-to-Date gross

write-offs

$

29

$

213

$

130

$

96

$

128

$

2,205

$

101

$

-

$

2,902

Total Popular Inc.

$

6,557,710

$

5,969,119

$

5,840,909

$

4,086,973

$

2,347,966

$

8,740,425

$

3,525,832

$

38,718

$

37,107,652

December 31, 2023

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2023

2022

2021

2020

2019

Prior 

Years

Total

BPPR

Commercial:

Commercial multi-family

Pass

$

37,976

$

138,619

$

21,334

$

20,487

$

32,554

$

24,248

$

306

$

-

$

275,524

Watch

-

-

-

-

1,068

5,179

-

-

6,247

Special Mention

-

559

-

-

-

4,780

-

-

5,339

Substandard

-

-

-

-

-

4,832

-

-

4,832

Total commercial

multi-family

$

37,976

$

139,178

$

21,334

$

20,487

$

33,622

$

39,039

$

306

$

-

$

291,942

Commercial real estate non-owner occupied

Pass

$

305,243

$

871,191

$

560,785

$

359,853

$

41,262

$

563,794

$

7,042

$

-

$

2,709,170

Watch

1,959

882

5,205

22,211

5,938

27,015

-

-

63,210

Special Mention

43,020

5,413

24,730

-

15,843

68,368

-

-

157,374

Substandard

1,016

1,307

180

2,231

53,729

12,968

4,069

-

75,500

Total commercial

real estate non-

owner occupied

$

351,238

$

878,793

$

590,900

$

384,295

$

116,772

$

672,145

$

11,111

$

-

$

3,005,254

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

609

$

-

$

521

$

-

$

-

$

1,130

Commercial real estate owner occupied

Pass

$

92,234

$

155,819

$

227,246

$

51,038

$

24,184

$

357,429

$

9,146

$

-

$

917,096

Watch

2,947

45,106

9,913

4,285

5,017

62,217

1,000

-

130,485

Special Mention

-

16,860

20,741

1,462

887

44,069

-

-

84,019

Substandard

1,316

15,710

5,080

143,696

845

87,383

12,617

-

266,647

Doubtful

-

-

-

-

-

136

-

-

136

Total commercial

real estate owner

occupied

$

96,497

$

233,495

$

262,980

$

200,481

$

30,933

$

551,234

$

22,763

$

-

$

1,398,383

Year-to-Date gross

write-offs

$

-

$

4

$

-

$

-

$

1

$

4,432

$

-

$

-

$

4,437

Commercial and industrial

Pass

$

1,109,898

$

634,401

$

511,912

$

241,452

$

123,458

$

258,872

$

1,343,885

$

-

$

4,223,878

Watch

28,841

95,785

6,111

4,043

15,560

65,360

182,756

-

398,456

Special Mention

6,401

3,269

276

3,200

2,088

41,289

9,410

-

65,933

Substandard

731

1,760

8,644

22,065

1,922

32,087

40,670

-

107,879

Doubtful

-

-

-

54

-

26

-

-

80

Total commercial

and industrial

$

1,145,871

$

735,215

$

526,943

$

270,814

$

143,028

$

397,634

$

1,576,721

$

-

$

4,796,226

Year-to-Date gross

write-offs

$

896

$

184

$

215

$

335

$

555

$

1,086

$

4,468

$

-

$

7,739

Construction

Pass

$

26,662

$

24,462

$

27,364

$

10,758

$

1,944

$

1,049

$

38,720

$

-

$

130,959

Watch

-

16,546

5,458

-

-

-

9,506

-

31,510

Special Mention

-

-

1,009

-

-

-

1

-

1,010

Substandard

-

6,378

-

-

-

-

-

-

6,378

Total construction

$

26,662

$

47,386

$

33,831

$

10,758

$

1,944

$

1,049

$

48,227

$

-

$

169,857

Year-to-Date gross

write-offs

$

-

$

2,611

$

-

$

-

$

-

$

-

$

-

$

-

$

2,611

Mortgage

Pass

$

751,532

$

439,373

$

421,297

$

259,412

$

164,438

$

4,280,509

$

-

$

-

$

6,316,561

Substandard

96

161

162

345

2,606

71,893

-

-

75,263

Total mortgage

$

751,628

$

439,534

$

421,459

$

259,757

$

167,044

$

4,352,402

$

-

$

-

$

6,391,824

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

1,638

$

-

$

-

$

1,638

December 31, 2023

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2023

2022

2021

2020

2019

Prior 

Years

Total

BPPR

Leasing

Pass

$

647,659

$

488,506

$

313,133

$

163,189

$

88,983

$

21,706

$

-

$

-

$

1,723,176

Substandard

806

2,516

3,053

906

818

517

-

-

8,616

Loss

-

-

-

-

-

17

-

-

17

Total leasing

$

648,465

$

491,022

$

316,186

$

164,095

$

89,801

$

22,240

$

-

$

-

$

1,731,809

Year-to-Date gross

write-offs

$

1,065

$

4,424

$

2,878

$

849

$

976

$

687

$

-

$

-

$

10,879

Consumer:

Credit cards

Pass

$

-

$

-

$

-

$

-

$

-

$

-

$

1,112,447

$

-

$

1,112,447

Substandard

-

-

-

-

-

-

23,259

-

23,259

Loss

-

-

-

-

-

-

22

-

22

Total credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

1,135,728

$

-

$

1,135,728

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

41,007

$

-

$

41,007

HELOCs

Pass

$

-

$

-

$

-

$

-

$

-

$

-

$

2,622

$

-

$

2,622

Substandard

-

-

-

-

-

-

26

-

26

Total HELOCs

$

-

$

-

$

-

$

-

$

-

$

-

$

2,648

$

-

$

2,648

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

213

$

-

$

213

Personal

Pass

$

859,434

$

480,771

$

181,483

$

57,227

$

58,849

$

96,956

$

-

$

22,034

$

1,756,754

Substandard

1,815

4,985

1,939

493

933

8,322

-

1,006

19,493

Loss

-

-

14

-

12

37

-

-

63

Total Personal

$

861,249

$

485,756

$

183,436

$

57,720

$

59,794

$

105,315

$

-

$

23,040

$

1,776,310

Year-to-Date gross

write-offs

$

4,458

$

35,915

$

18,076

$

4,210

$

4,891

$

2,952

$

-

$

1,475

$

71,977

Auto

Pass

$

1,210,622

$

899,797

$

711,439

$

405,768

$

260,355

$

120,318

$

-

$

-

$

3,608,299

Substandard

6,980

14,049

11,916

9,157

7,051

3,199

-

-

52,352

Loss

9

44

45

16

9

6

-

-

129

Total Auto

$

1,217,611

$

913,890

$

723,400

$

414,941

$

267,415

$

123,523

$

-

$

-

$

3,660,780

Year-to-Date gross

write-offs

$

10,170

$

23,849

$

11,820

$

5,914

$

3,553

$

-

$

-

$

-

$

55,306

Other consumer

Pass

$

36,144

$

24,238

$

14,942

$

5,618

$

3,433

$

2,753

$

61,796

$

-

$

148,924

Substandard

244

25

-

73

16

131

249

-

738

Loss

-

-

137

-

-

363

-

-

500

Total Other

consumer

$

36,388

$

24,263

$

15,079

$

5,691

$

3,449

$

3,247

$

62,045

$

-

$

150,162

Year-to-Date gross

write-offs

$

47

$

154

$

125

$

164

$

88

$

11,876

$

-

$

-

$

12,454

Total BPPR

$

5,173,585

$

4,388,532

$

3,095,548

$

1,789,039

$

913,802

$

6,267,828

$

2,859,549

$

23,040

$

24,510,923

December 31, 2023

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2023

2022

2021

2020

2019

Prior

Years

Total

Popular U.S.

Commercial:

Commercial multi-family

Pass

$

166,410

$

417,169

$

326,047

$

164,887

$

182,528

$

410,836

$

5,112

$

-

$

1,672,989

Watch

-

116,794

39,319

71,237

93,239

98,365

-

-

418,954

Special Mention

-

-

862

1,171

-

3,377

-

-

5,410

Substandard

-

-

-

-

5,545

20,780

-

-

26,325

Total commercial

multi-family

$

166,410

$

533,963

$

366,228

$

237,295

$

281,312

$

533,358

$

5,112

$

-

$

2,123,678

Commercial real estate non-owner occupied

Pass

$

396,712

$

490,316

$

170,074

$

201,225

$

86,595

$

394,455

$

6,086

$

-

$

1,745,463

Watch

-

39,721

38,713

43,705

39,908

91,922

4,557

-

258,526

Special Mention

-

-

-

-

1,327

63,365

-

-

64,692

Substandard

-

-

-

8,054

1,702

3,730

-

-

13,486

Total commercial

real estate non-

owner occupied

$

396,712

$

530,037

$

208,787

$

252,984

$

129,532

$

553,472

$

10,643

$

-

$

2,082,167

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

193

$

-

$

-

$

193

Commercial real estate owner occupied

Pass

$

303,202

$

278,380

$

226,289

$

58,505

$

47,083

$

204,888

$

9,753

$

-

$

1,128,100

Watch

-

69,894

84,218

53,066

14,057

98,502

1,905

-

321,642

Special Mention

-

-

77,912

4,955

6,074

11,224

-

-

100,165

Substandard

-

477

2,430

-

21,763

107,675

-

-

132,345

Total commercial

real estate owner

occupied

$

303,202

$

348,751

$

390,849

$

116,526

$

88,977

$

422,289

$

11,658

$

-

$

1,682,252

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

1,395

$

-

$

-

$

1,395

December 31, 2023

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2023

2022

2021

2020

2019

Prior

Years

Total

Popular U.S.

Commercial and industrial

Pass

$

196,959

$

278,238

$

346,428

$

268,835

$

148,502

$

379,635

$

414,883

$

-

$

2,033,480

Watch

198

37,022

47,299

44,939

23,493

93,299

32,497

-

278,747

Special Mention

208

889

1,021

30

151

39

8,674

-

11,012

Substandard

636

628

152

1,152

730

1,841

1,517

-

6,656

Total commercial

and industrial

$

198,001

$

316,777

$

394,900

$

314,956

$

172,876

$

474,814

$

457,571

$

-

$

2,329,895

Year-to-Date gross

write-offs

$

247

$

221

$

1,994

$

44

$

1,320

$

-

$

49

$

-

$

3,875

Construction

Pass

$

280,188

$

251,627

$

89,450

$

14,733

$

25,254

$

-

$

-

$

-

$

661,252

Watch

-

22,867

12,869

-

21,896

782

-

-

58,414

Special Mention

2,120

13,151

-

-

-

-

-

-

15,271

Substandard

-

1

13,997

3,895

-

36,593

-

-

54,486

Total construction

$

282,308

$

287,646

$

116,316

$

18,628

$

47,150

$

37,375

$

-

$

-

$

789,423

Mortgage

Pass

$

99,296

$

229,720

$

288,767

$

233,805

$

177,245

$

264,069

$

-

$

-

$

1,292,902

Substandard

-

235

-

646

2,102

8,208

-

-

11,191

Total mortgage

$

99,296

$

229,955

$

288,767

$

234,451

$

179,347

$

272,277

$

-

$

-

$

1,304,093

December 31, 2023

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2023

2022

2021

2020

2019

Prior

Years

Total

Popular U.S.

Consumer:

Credit cards

Pass

$

-

$

-

$

-

$

-

$

-

$

-

$

19

$

-

$

19

Total credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

19

$

-

$

19

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

1

$

-

$

1

HELOCs

Pass

$

-

$

-

$

-

$

-

$

-

$

7,394

$

39,925

$

12,253

$

59,572

Substandard

-

-

-

-

-

1,849

-

966

2,815

Loss

-

-

-

-

-

99

-

819

918

Total HELOCs

$

-

$

-

$

-

$

-

$

-

$

9,342

$

39,925

$

14,038

$

63,305

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

471

$

-

$

-

$

471

Personal

Pass

$

41,016

$

93,759

$

23,325

$

2,993

$

3,597

$

1,441

$

-

$

-

$

166,131

Substandard

333

1,630

325

50

126

211

-

-

2,675

Loss

-

-

-

-

1

130

-

-

131

Total Personal

$

41,349

$

95,389

$

23,650

$

3,043

$

3,724

$

1,782

$

-

$

-

$

168,937

Year-to-Date gross

write-offs

$

735

$

13,136

$

4,450

$

618

$

872

$

160

$

-

$

-

$

19,971

Other consumer

Pass

$

19

$

-

$

-

$

-

$

-

$

-

$

10,259

$

-

$

10,278

Substandard

-

-

-

-

-

-

1

-

1

Total Other

consumer

$

19

$

-

$

-

$

-

$

-

$

-

$

10,260

$

-

$

10,279

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

171

$

-

$

171

Total Popular U.S.

$

1,487,297

$

2,342,518

$

1,789,497

$

1,177,883

$

902,918

$

2,304,709

$

535,188

$

14,038

$

10,554,048

December 31, 2023

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2023

2022

2021

2020

2019

Prior

Years

Total

Popular, Inc.

Commercial:

Commercial multi-family

Pass

$

204,386

$

555,788

$

347,381

$

185,374

$

215,082

$

435,084

$

5,418

$

-

$

1,948,513

Watch

-

116,794

39,319

71,237

94,307

103,544

-

-

425,201

Special Mention

-

559

862

1,171

-

8,157

-

-

10,749

Substandard

-

-

-

-

5,545

25,612

-

-

31,157

Total commercial

multi-family

$

204,386

$

673,141

$

387,562

$

257,782

$

314,934

$

572,397

$

5,418

$

-

$

2,415,620

Commercial real estate non-owner occupied

Pass

$

701,955

$

1,361,507

$

730,859

$

561,078

$

127,857

$

958,249

$

13,128

$

-

$

4,454,633

Watch

1,959

40,603

43,918

65,916

45,846

118,937

4,557

-

321,736

Special Mention

43,020

5,413

24,730

-

17,170

131,733

-

-

222,066

Substandard

1,016

1,307

180

10,285

55,431

16,698

4,069

-

88,986

Total commercial

real estate non-

owner occupied

$

747,950

$

1,408,830

$

799,687

$

637,279

$

246,304

$

1,225,617

$

21,754

$

-

$

5,087,421

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

609

$

-

$

714

$

-

$

-

$

1,323

Commercial real estate owner occupied

Pass

$

395,436

$

434,199

$

453,535

$

109,543

$

71,267

$

562,317

$

18,899

$

-

$

2,045,196

Watch

2,947

115,000

94,131

57,351

19,074

160,719

2,905

-

452,127

Special Mention

-

16,860

98,653

6,417

6,961

55,293

-

-

184,184

Substandard

1,316

16,187

7,510

143,696

22,608

195,058

12,617

-

398,992

Doubtful

-

-

-

-

-

136

-

-

136

Total commercial

real estate owner

occupied

$

399,699

$

582,246

$

653,829

$

317,007

$

119,910

$

973,523

$

34,421

$

-

$

3,080,635

Year-to-Date gross

write-offs

$

-

$

4

$

-

$

-

$

1

$

5,827

$

-

$

-

$

5,832

Commercial and industrial

Pass

$

1,306,857

$

912,639

$

858,340

$

510,287

$

271,960

$

638,507

$

1,758,768

$

-

$

6,257,358

Watch

29,039

132,807

53,410

48,982

39,053

158,659

215,253

-

677,203

Special Mention

6,609

4,158

1,297

3,230

2,239

41,328

18,084

-

76,945

Substandard

1,367

2,388

8,796

23,217

2,652

33,928

42,187

-

114,535

Doubtful

-

-

-

54

-

26

-

-

80

Total commercial

and industrial

$

1,343,872

$

1,051,992

$

921,843

$

585,770

$

315,904

$

872,448

$

2,034,292

$

-

$

7,126,121

Year-to-Date gross

write-offs

$

1,143

$

405

$

2,209

$

379

$

1,875

$

1,086

$

4,517

$

-

$

11,614

December 31, 2023

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2023

2022

2021

2020

2019

Prior

Years

Total

Popular, Inc.

Construction

Pass

$

306,850

$

276,089

$

116,814

$

25,491

$

27,198

$

1,049

$

38,720

$

-

$

792,211

Watch

-

39,413

18,327

-

21,896

782

9,506

-

89,924

Special Mention

2,120

13,151

1,009

-

-

-

1

-

16,281

Substandard

-

6,379

13,997

3,895

-

36,593

-

-

60,864

Total construction

$

308,970

$

335,032

$

150,147

$

29,386

$

49,094

$

38,424

$

48,227

$

-

$

959,280

Year-to-Date gross

write-offs

$

-

$

2,611

$

-

$

-

$

-

$

-

$

-

$

-

$

2,611

Mortgage

Pass

$

850,828

$

669,093

$

710,064

$

493,217

$

341,683

$

4,544,578

$

-

$

-

$

7,609,463

Substandard

96

396

162

991

4,708

80,101

-

-

86,454

Total mortgage

$

850,924

$

669,489

$

710,226

$

494,208

$

346,391

$

4,624,679

$

-

$

-

$

7,695,917

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

1,638

$

-

$

-

$

1,638

Leasing

Pass

$

647,659

$

488,506

$

313,133

$

163,189

$

88,983

$

21,706

$

-

$

-

$

1,723,176

Substandard

806

2,516

3,053

906

818

517

-

-

8,616

Loss

-

-

-

-

-

17

-

-

17

Total leasing

$

648,465

$

491,022

$

316,186

$

164,095

$

89,801

$

22,240

$

-

$

-

$

1,731,809

Year-to-Date gross

write-offs

$

1,065

$

4,424

$

2,878

$

849

$

976

$

687

$

-

$

-

$

10,879

December 31, 2023

Term Loans

Revolving

Loans

Amortized

Cost Basis

Revolving

Loans

Converted to

Term Loans

Amortized

Cost Basis

Amortized Cost Basis by Origination Year

(In thousands)

2023

2022

2021

2020

2019

Prior

Years

Total

Popular, Inc.

Consumer:

Credit cards

Pass

$

-

$

-

$

-

$

-

$

-

$

-

$

1,112,466

$

-

$

1,112,466

Substandard

-

-

-

-

-

-

23,259

-

23,259

Loss

-

-

-

-

-

-

22

-

22

Total credit cards

$

-

$

-

$

-

$

-

$

-

$

-

$

1,135,747

$

-

$

1,135,747

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

41,008

$

-

$

41,008

HELOCs

Pass

$

-

$

-

$

-

$

-

$

-

$

7,394

$

42,547

$

12,253

$

62,194

Substandard

-

-

-

-

-

1,849

26

966

2,841

Loss

-

-

-

-

-

99

-

819

918

Total HELOCs

$

-

$

-

$

-

$

-

$

-

$

9,342

$

42,573

$

14,038

$

65,953

Year-to-Date gross

write-offs

$

-

$

-

$

-

$

-

$

-

$

471

$

213

$

-

$

684

Personal

Pass

$

900,450

$

574,530

$

204,808

$

60,220

$

62,446

$

98,397

$

-

$

22,034

$

1,922,885

Substandard

2,148

6,615

2,264

543

1,059

8,533

-

1,006

22,168

Loss

$

-

$

-

$

14

$

-

$

13

$

167

$

-

$

-

$

194

Total Personal

$

902,598

$

581,145

$

207,086

$

60,763

$

63,518

$

107,097

$

-

$

23,040

$

1,945,247

Year-to-Date gross

write-offs

$

5,193

$

49,051

$

22,526

$

4,828

$

5,763

$

3,112

$

-

$

1,475

$

91,948

Auto

Pass

$

1,210,622

$

899,797

$

711,439

$

405,768

$

260,355

$

120,318

$

-

$

-

$

3,608,299

Substandard

6,980

14,049

11,916

9,157

7,051

3,199

-

-

52,352

Loss

9

44

45

16

9

6

-

-

129

Total Auto

$

1,217,611

$

913,890

$

723,400

$

414,941

$

267,415

$

123,523

$

-

$

-

$

3,660,780

Year-to-Date gross

write-offs

$

10,170

$

23,849

$

11,820

$

5,914

$

3,553

$

-

$

-

$

-

$

55,306

Other consumer

Pass

$

36,163

$

24,238

$

14,942

$

5,618

$

3,433

$

2,753

$

72,055

$

-

$

159,202

Substandard

244

25

-

73

16

131

250

-

739

Loss

-

-

137

-

-

363

-

-

500

Total Other

consumer

$

36,407

$

24,263

$

15,079

$

5,691

$

3,449

$

3,247

$

72,305

$

-

$

160,441

Year-to-Date gross

write-offs

$

47

$

154

$

125

$

164

$

88

$

11,876

$

171

$

-

$

12,625

Total Popular Inc.

$

6,660,882

$

6,731,050

$

4,885,045

$

2,966,922

$

1,816,720

$

8,572,537

$

3,394,737

$

37,078

$

35,064,971