FULLTEXT DEL 4 AV 6
10-Q – 2025-08-11 – d82325d10q.htm
22
At December 31, 2024
Gross
Gross
Weighted
Amortized
unrealized
unrealized
Fair
average
(In thousands)
cost
gains
losses
value
yield
U.S. Treasury securities
Within 1 year
$
10,555,397
$
1,282
$
46,275
$
10,510,404
3.33
%
After 1 to 5 years
2,547,936
151
63,381
2,484,706
3.07
Total U.S. Treasury
securities
13,103,333
1,433
109,656
12,995,110
3.28
Collateralized mortgage obligations - federal agencies
After 1 to 5 years
10,538
-
345
10,193
1.53
After 5 to 10 years
15,334
-
904
14,430
2.24
After 10 years
104,168
132
8,639
95,661
2.76
Total collateralized
mortgage obligations - federal agencies
130,040
132
9,888
120,284
2.60
Mortgage-backed securities - federal agencies
Within 1 year
776
-
5
771
1.65
After 1 to 5 years
79,542
8
2,700
76,850
2.35
After 5 to 10 years
733,506
82
45,078
688,510
2.37
After 10 years
5,468,448
337
1,106,657
4,362,128
1.67
Total mortgage-backed
securities - federal agencies
6,282,272
427
1,154,440
5,128,259
1.75
Other
Within 1 year
500
-
-
500
5.00
After 1 to 5 years
1,750
-
-
1,750
5.50
Total other
2,250
-
-
2,250
5.39
Total debt securities
available-for-sale
[1]
$
19,517,895
$
1,992
$
1,273,984
$
18,245,903
2.78
%
[1]
Includes $
13.9
billion pledged to secure government and trust deposits,
assets sold under agreements to repurchase, credit facilities
and loan
servicing agreements that the secured parties are not permitted
to sell or repledge the collateral, of which $
12.9
billion serve as collateral for
public funds. The Corporation had unpledged Available
for Sale securities with a fair value of
$
4.3
billion that could be used to increase its
borrowing facilities.
The weighted
average yield
on debt
securities available-for-sale
is based
on amortized
cost; therefore,
it
does not
give
effect to
changes in fair value.
Securities
not
due
on
a
single
contractual
maturity
date,
such
as
mortgage-backed
securities
and
collateralized
mortgage
obligations,
are
classified
based
on
the
period
of
final
contractual
maturity.
The
expected
maturities
of
collateralized
mortgage
obligations, mortgage-backed securities
and certain
other securities
may differ
from their
contractual maturities
because they
may
be subject to prepayments or may be called
by the issuer.
At June 30,
2025, the Corporation did not
intend to sell or
believed it was more
likely than not that
it would be required
to sell debt
securities classified
as available-for-sale. There
were
no
debt securities
classified as
available-for-sale sold during
the six
months
ended June 30, 2025 and 2024.
23
The
following
tables
present
the
Corporation’s
fair
value
and
gross
unrealized
losses
of
debt
securities
available-for-sale,
aggregated by investment category and length of
time that individual securities have been in a continuous
unrealized loss position at
June 30, 2025 and December 31, 2024.
At June 30, 2025
Less than 12 months
12 months or more
Total
Gross
Gross
Gross
Fair
unrealized
Fair
unrealized
Fair
unrealized
(In thousands)
value
losses
value
losses
value
losses
U.S. Treasury securities
$
8,477,646
$
11,934
$
2,097,347
$
36,698
$
10,574,993
$
48,632
Collateralized mortgage obligations - federal agencies
6,592
21
92,871
7,997
99,463
8,018
Mortgage-backed securities -federal agencies
50,680
2,594
4,863,122
1,001,988
4,913,802
1,004,582
Total debt securities
available-for-sale in an unrealized loss position
$
8,534,918
$
14,549
$
7,053,340
$
1,046,683
$
15,588,258
$
1,061,232
At December 31, 2024
Less than 12 months
12 months or more
Total
Gross
Gross
Gross
Fair
unrealized
Fair
unrealized
Fair
unrealized
(In thousands)
value
losses
value
losses
value
losses
U.S. Treasury securities
$
2,309,894
$
24,646
$
3,638,092
$
85,010
$
5,947,986
$
109,656
Collateralized mortgage obligations - federal agencies
4,878
27
102,160
9,861
107,038
9,888
Mortgage-backed securities - federal agencies
70,777
3,175
5,031,414
1,151,265
5,102,191
1,154,440
Total debt securities
available-for-sale in an unrealized loss position
$
2,385,549
$
27,848
$
8,771,666
$
1,246,136
$
11,157,215
$
1,273,984
As of June 30,
2025, the portfolio of
available-for-sale debt securities reflects gross unrealized losses
of $
1.1
billion (December 31,
2024 -
$
1.3
billion), driven mainly
by mortgage-backed securities,
which have
been impacted by
the-interest rate environment
and
the
portfolio’s
longer
duration.
The
portfolio
of
available-for-sale
debt
securities
is
comprised
mainly
of
U.S
Treasuries
and
obligations
from
the
U.S.
Government,
its
agencies
or
government
sponsored
entities,
including
Federal
National
Mortgage
Association
(“FNMA”),
Federal
Home
Loan
Mortgage
Corporation
(“FHLMC”)
and
Government
National
Mortgage
Association
(“GNMA”).
These
securities
carry
an
explicit
or
implicit
guarantee
from
the
U.S.
Government,
are
highly
rated
by
major
rating
agencies, and have a long history of no credit
losses. Accordingly, the Corporation applies a zero-credit loss assumption.
24
Note 6 –Debt securities held-to-maturity
The following
tables present
the amortized
cost, allowance
for credit
losses, gross
unrealized gains
and losses,
approximate fair
value,
weighted average
yield
and contractual
maturities of
debt securities
held-to-maturity at
June 30,
2025
and
December 31,
2024.
At June 30, 2025
Allowance
Carrying
Value
Gross
Gross
Weighted
Amortized
Book
[1]
for Credit
Net of
unrealized
unrealized
Fair
average
(In thousands)
cost
Value
Losses
Allowance
gains
losses
value
yield
U.S. Treasury securities
Within 1 year
$
1,504,543
$
1,481,291
$
-
$
1,481,291
$
-
$
2,667
$
1,478,624
1.86
%
After 1 to 5 years
6,362,489
5,998,366
-
5,998,366
22,074
-
6,020,440
1.22
Total U.S. Treasury
securities
7,867,032
7,479,657
-
7,479,657
22,074
2,667
7,499,064
1.34
Obligations of Puerto Rico, States and
political subdivisions
Within 1 year
2,540
2,540
7
2,533
6
-
2,539
6.41
After 1 to 5 years
14,777
14,777
60
14,717
31
98
14,650
3.40
After 5 to 10 years
655
655
21
634
21
-
655
5.81
After 10 years
36,625
36,625
5,911
30,714
2,740
2,117
31,337
1.42
Total obligations of
Puerto Rico, States and
political subdivisions
54,597
54,597
5,999
48,598
2,798
2,215
49,181
2.24
Collateralized mortgage obligations - federal
agencies
After 10 years
1,510
1,510
-
1,510
-
198
1,312
2.87
Total collateralized
mortgage obligations -
federal agencies
1,510
1,510
-
1,510
-
198
1,312
2.87
Securities in wholly owned statutory business
trusts
After 5 to 10 years
5,960
5,960
-
5,960
-
-
5,960
6.33
Total securities
in wholly owned statutory
business trusts
5,960
5,960
-
5,960
-
-
5,960
6.33
Total debt securities
held-to-maturity [2]
$
7,929,099
$
7,541,724
$
5,999
$
7,535,725
$
24,872
$
5,080
$
7,555,517
1.35
%
[1]
Book value includes $
387
million of unrealized loss which remains in Accumulated
other comprehensive (loss) income (AOCI) related
to certain
securities previously transferred from available-for-sale securities
portfolio to the held-to-maturity securities portfolio.
[2]
Includes $
7.4
billion pledged to secure public and trust deposits that
the secured parties are not permitted to sell or repledge
the collateral.
The
Corporation had unpledged held-to-maturities securities with
a fair value of $
138.6
million that could be used to increase its borrowing
facilities.
25
At December 31, 2024
Allowance
Carrying
Value
Gross
Gross
Weighted
Amortized
Book
[1]
for Credit
Net of
unrealized
unrealized
Fair
average
(In thousands)
cost
Value
Losses
Allowance
gains
losses
value
yield
U.S. Treasury securities
Within 1 year
$
599,910
$
599,910
$
-
$
599,910
$
-
$
4,498
$
595,412
2.76
%
After 1 to 5 years
7,572,435
7,093,508
-
7,093,508
-
65,096
7,028,412
1.28
Total U.S. Treasury
securities
8,172,345
7,693,418
-
7,693,418
-
69,594
7,623,824
1.39
Obligations of Puerto Rico, States and
political subdivisions
`
Within 1 year
2,440
2,440
5
2,435
3
-
2,438
6.39
After 1 to 5 years
16,454
16,454
80
16,374
47
80
16,341
3.69
After 5 to 10 years
655
655
22
633
20
-
653
5.81
After 10 years
37,633
37,633
5,210
32,423
2,318
2,596
32,145
1.42
Total obligations of
Puerto Rico, States and
political subdivisions
57,182
57,182
5,317
51,865
2,388
2,676
51,577
2.34
Collateralized mortgage obligations - federal
agencies
After 10 years
1,518
1,518
-
1,518
-
214
1,304
2.87
Total collateralized
mortgage obligations -
federal agencies
1,518
1,518
-
1,518
-
214
1,304
2.87
Securities in wholly owned statutory business
trusts
After 5 to 10 years
5,959
5,959
-
5,959
-
-
5,959
6.33
Total securities
in wholly owned statutory
business trusts
5,959
5,959
-
5,959
-
-
5,959
6.33
Total debt securities
held-to-maturity [2]
$
8,237,004
$
7,758,077
$
5,317
$
7,752,760
$
2,388
$
72,484
$
7,682,664
1.40
%
[1]
Book value includes $
479
million of unrealized loss which remains in Accumulated
other comprehensive (loss) income (AOCI) related
to certain
securities transferred from available-for-sale securities
portfolio to the held-to-maturity securities portfolio.
[2]
Includes $
7.6
billion pledged to secure public and trust deposits that
the secured parties are not permitted to sell or repledge
the collateral. The
Corporation had unpledged held-to-maturities securities with
a fair value of $
139.9
million that could be used to increase its borrowing
facilities.
Debt securities not due on a single contractual maturity date,
such as collateralized mortgage obligations, are classified in the period
of final
contractual maturity.
The expected
maturities of
collateralized mortgage
obligations and
certain other
securities may
differ
from their contractual maturities because they may be
subject to prepayments or may be called
by the issuer.
Credit Quality Indicators
The following describes the credit quality indicators by major security
type that the Corporation considers to develop the
estimate of
the allowance for credit losses for investment securities
held-to-maturity.
As discussed in
Note 2 of
the 2024 Form
10-K, U.S. Treasury
securities carry an explicit
guarantee from the U.S.
Government are
highly rated by major rating
agencies and have a long
history of no credit losses. Accordingly,
the Corporation applies a zero-credit
loss assumption and no allowance for credit losses
(“ACL”) for these securities has been established.
At June
30, 2025
and December 31,
2024, the “Obligations
of Puerto
Rico, States and
political subdivisions” classified
as held-to-
maturity,
includes
securities
issued
by
municipalities
of
Puerto
Rico
that
are
generally
not
rated
by
a
credit
rating
agency.
The
Corporation performs periodic credit quality
reviews of these securities and internally
assigns standardized credit risk ratings based
on
its
evaluation. For
the
definitions
of
the
obligor
risk
ratings, refer
to
the
Credit
Quality section
of
Note
8
to
the
Consolidated
Financial Statements.
This
includes
$
11
million
of
general and
special
obligation bonds
issued
by three
municipalities of
Puerto
Rico,
of
which
$
9.5
million
have
a
“Pass”
rating,
that
are
payable
primarily
from
certain
property
taxes
imposed
by
the
issuing
municipality (compared to $
13
million and $
11.1
million, respectively, at December 31, 2024).
At June 30, 2025, the portfolio of “Obligations of Puerto Rico, States
and political subdivisions” also includes $
37
million in securities
issued
by
the
Puerto
Rico
Housing Finance
Authority
(“HFA”),
a
government
instrumentality,
for
which the
underlying
source
of
payment
is
second
mortgage
loans
in
Puerto
Rico
residential
properties
(not
the
government),
but
for
which
HFA,
provides
a
guarantee in
the event
of default
and upon
the satisfaction
of certain
other conditions
(December 31,
2024 -
$
38
million). These
securities are not rated by a credit rating agency.
26
The
Corporation
assesses
the
credit
risk
associated
with
these
securities
by
evaluating
the
refreshed
FICO
scores
of
a
representative
sample
of
the
underlying
borrowers.
As
of
June
30,
2025,
the
average
refreshed
FICO
score
for
the
sample,
comprised
of
74
%
of
the
nominal
value
of
the
securities,
used
for
the
loss
estimate
was
of
676
(compared
to
72
%
and
674
,
respectively, at
December 31, 2024).
The loss estimates
for this portfolio
was based on
the methodology established
under CECL
for
similar
loan
obligations.
The
Corporation
does
not
consider
the
government
guarantee
when
estimating
the
credit
losses
associated with this portfolio.
A
deterioration of
the Puerto
Rico economy
or
of
the fiscal
health of
the
Government of
Puerto Rico
and/or
its
instrumentalities
(including if
any of
the issuing
municipalities become
subject to
a debt
restructuring proceeding
under the
Puerto Rico
Oversight
Management and Economic Stability Act (“PROMESA”) could
adversely affect the value of these securities, resulting in losses
to the
Corporation.
Refer to
Note 20
to the
Consolidated Financial
Statements
for additional
information on
the Corporation’s
exposure to
the Puerto
Rico Government.
Delinquency status
At June 30, 2025 and December 31, 2024, there were
no
securities held-to-maturity in past due or non-performing
status.
Allowance for credit losses on debt securities held-to-maturity
The allowance for credit losses related to
the Obligations of Puerto Rico and the States
and Political subdivisions securities at June
30, 2025 was $
6.0
million (December 31, 2024 - $
5.3
million).
27
Note 7 – Loans
For
a summary
of
the accounting
policies related
to
loans, interest
recognition and
allowance for
credit
losses
refer to
Note
2
–
Summary of Significant Accounting Policies of the 2024
Form 10-K.
The following
table presents
the Corporation's loan
purchases for
the quarters
and six
months ended June
30, 2025
and 2024
by
class of loans:
Quarters ended June 30,
Six months ended June 30,
(In thousands)
2025
2024
2025
2024
Commercial
$
67,726
$
159,258
$
74,886
$
215,422
Mortgage
125,690
84,849
246,597
170,653
Ending balance
$
193,416
$
244,107
$
321,483
$
386,075
The following table presents
the Corporation’s loan sales for the quarters and six months ended June 30, 2025 and 2024 by class of
loans:
Quarters ended June 30,
Six months ended June 30,
(In thousands)
2025
2024
2025
2024
Commercial
$
1,000
$
-
$
27,349
$
-
Construction
-
-
9,338
11,656
Mortgage
8,450
12,752
15,387
23,756
Ending balance
$
9,450
$
12,752
$
52,074
$
35,412
During the
quarter ended
June
30,
2025,
the
Corporation securitized
$
3
million
of
mortgage
loans
into
FNMA
mortgage-backed
securities, compared to $
3
million during the quarter ended June 30, 2024. The Corporation securitized $
3
million of mortgage loans
into GNMA
mortgage-backed securities
during the
quarter ended
June 30,
2025. There
were
no
GNMA securitizations
during the
quarter ended June 30, 2024.
During the six months
ended June 30, 2025,
the Corporation securitized $
4
million of mortgage loans into
FNMA mortgage-backed
securities, compared to
$
4
million during the
six months ended
June 30, 2024.
The Corporation securitized
$
3
million of mortgage
loans into
GNMA mortgage-backed
securities during
the six
months ended
June 30,
2025, compared
to $
1
million during
the six
months ended June 30, 2024.
Delinquency status
The following tables present the
amortized cost basis of loans
held-in-portfolio (“HIP”), net of unearned
income, by past due status,
and by loan class including those that are in non-performing status or that are accruing
interest but are past due 90 days or more at
June 30, 2025 and December 31, 2024.
28
June 30, 2025
BPPR
Past due
Past due 90 days or more
30-59
60-89
90 days
Total
Non-accrual
Accruing
(In thousands)
days
days
or more
past due
Current
Loans HIP
loans
loans
Commercial multi-family
$
6,337
$
-
$
174
$
6,511
$
299,852
$
306,363
$
174
$
-
Commercial real estate:
Non-owner occupied
113
1,679
6,084
7,876
3,322,108
3,329,984
6,084
-
Owner occupied
1,087
2,098
27,320
30,505
1,171,601
1,202,106
27,320
-
Commercial and industrial
4,657
2,449
12,652
19,758
5,574,966
5,594,724
8,588
4,064
Construction
3,720
-
-
3,720
249,579
253,299
-
-
Mortgage
262,525
109,530
324,140
696,195
6,407,811
7,104,006
147,464
176,676
Leasing
23,109
5,629
7,976
36,714
1,946,354
1,983,068
7,976
-
Consumer:
Credit cards
14,184
9,360
25,201
48,745
1,166,545
1,215,290
-
25,201
Home equity lines of credit
-
-
-
-
1,809
1,809
-
-
Personal
19,022
11,917
17,499
48,438
1,743,772
1,792,210
17,499
-
Auto
102,643
22,404
40,595
165,642
3,696,060
3,861,702
40,595
-
Other
2,500
160
2,212
4,872
155,550
160,422
1,948
264
Total
$
439,897
$
165,226
$
463,853
$
1,068,976
$
25,736,007
$
26,804,983
$
257,648
$
206,205
June 30, 2025
Popular U.S.
Past due
Past due 90 days or more
30-59
60-89
90 days
Total
Non-accrual
Accruing
(In thousands)
days
days
or more
past due
Current
Loans HIP
loans
loans
Commercial multi-family
$
-
$
4,675
$
10,751
$
15,426
$
2,199,000
$
2,214,426
$
10,751
$
-
Commercial real estate:
Non-owner occupied
1,503
-
7,893
9,396
2,181,994
2,191,390
7,893
-
Owner occupied
10,677
-
231
10,908
1,790,841
1,801,749
231
-
Commercial and industrial
9,235
5,195
3,025
17,455
2,431,573
2,449,028
2,836
189
Construction
-
-
-
-
1,214,902
1,214,902
-
-
Mortgage
677
3,329
28,052
32,058
1,308,363
1,340,421
28,052
-
Consumer:
Credit cards
-
-
-
-
3
3
-
-
Home equity lines of
credit
845
717
3,120
4,682
70,988
75,670
3,120
-
Personal
1,045
532
1,094
2,671
81,582
84,253
1,094
-
Other
694
1
-
695
7,658
8,353
-
-
Total
$
24,676
$
14,449
$
54,166
$
93,291
$
11,286,904
$
11,380,195
$
53,977
$
189
29
June 30, 2025
Popular, Inc.
Past due
Past due 90 days or more
30-59
60-89
90 days
Total
Non-accrual
Accruing
(In thousands)
days
days
or more
past due
Current
Loans HIP
[2] [3]
loans
loans
Commercial multi-family
$
6,337
$
4,675
$
10,925
$
21,937
$
2,498,852
$
2,520,789
$
10,925
$
-
Commercial real estate:
Non-owner occupied
1,616
1,679
13,977
17,272
5,504,102
5,521,374
13,977
-
Owner occupied
11,764
2,098
27,551
41,413
2,962,442
3,003,855
27,551
-
Commercial and industrial
13,892
7,644
15,677
37,213
8,006,539
8,043,752
11,424
4,253
Construction
3,720
-
-
3,720
1,464,481
1,468,201
-
-
Mortgage
[1]
263,202
112,859
352,192
728,253
7,716,174
8,444,427
175,516
176,676
Leasing
23,109
5,629
7,976
36,714
1,946,354
1,983,068
7,976
-
Consumer:
Credit cards
14,184
9,360
25,201
48,745
1,166,548
1,215,293
-
25,201
Home equity lines of credit
845
717
3,120
4,682
72,797
77,479
3,120
-
Personal
20,067
12,449
18,593
51,109
1,825,354
1,876,463
18,593
-
Auto
102,643
22,404
40,595
165,642
3,696,060
3,861,702
40,595
-
Other
3,194
161
2,212
5,567
163,208
168,775
1,948
264
Total
$
464,573
$
179,675
$
518,019
$
1,162,267
$
37,022,911
$
38,185,178
$
311,625
$
206,394
[1]
At June 30, 2025, mortgage loans held-in-portfolio include
$
2.9
billion of loans that carry certain guarantees from
the FHA or the VA, for which
the
Corporation’s policy is to exclude them from non-performing
status, of which $
177
million are 90 days or more past due. The portfolio of
guaranteed loans includes $
52
million of residential mortgage loans in Puerto Rico that
are no longer accruing interest as of June 30, 2025. The
Corporation has $
29
million in reverse mortgage loans in Puerto Rico which
are guaranteed by FHA, but which are currently
not accruing interest
at June 30, 2025.
[2]
Loans held-in-portfolio are net of $
427
million in unearned income and exclude $
3
million in loans held-for-sale.
[3]
Includes $
21.4
billion pledged to secure credit facilities and public funds
that the secured parties are not permitted to sell or repledge
the collateral,
of which $
7.5
billion were pledged at the Federal Home Loan Bank
("FHLB") as collateral for borrowings and $
13.9
billion at the Federal Reserve
Bank ("FRB") for discount window borrowings. As of June
30, 2025, the Corporation had an available borrowing
facility with the FHLB and the
discount window of FRB of $
4
.0 billion and $
10.8
billion, respectively.
30
December 31, 2024
BPPR
Past due
Past due 90 days or more
30-59
60-89
90 days
Total
Non-accrual
Accruing
(In thousands)
days
days
or more
past due
Current
Loans HIP
loans
loans
Commercial multi-family
$
1,491
$
113
$
79
$
1,683
$
306,318
$
308,001
$
79
$
-
Commercial real estate:
Non-owner occupied
3,103
586
6,429
10,118
3,236,385
3,246,503
6,429
-
Owner occupied
11,054
808
25,258
37,120
1,338,791
1,375,911
25,258
-
Commercial and industrial
5,738
2,712
23,895
32,345
5,314,549
5,346,894
19,335
4,560
Construction
1,039
-
-
1,039
211,251
212,290
-
-
Mortgage
262,222
116,694
365,759
744,675
6,065,206
6,809,881
158,442
207,317
Leasing
23,991
6,062
9,588
39,641
1,885,764
1,925,405
9,588
-
Consumer:
Credit cards
17,399
11,719
29,960
59,078
1,158,975
1,218,053
-
29,960
Home equity lines of credit
16
129
-
145
1,895
2,040
-
-
Personal
19,503
13,005
20,269
52,777
1,697,600
1,750,377
20,269
-
Auto
111,358
27,858
51,792
191,008
3,632,429
3,823,437
51,792
-
Other
1,816
277
1,312
3,405
156,824
160,229
899
413
Total
$
458,730
$
179,963
$
534,341
$
1,173,034
$
25,005,987
$
26,179,021
$
292,091
$
242,250
December 31, 2024
Popular U.S.
Past due
Past due 90 days or more
30-59
60-89
90 days
Total
Non-accrual
Accruing
(In thousands)
days
days
or more
past due
Current
Loans HIP
loans
loans
Commercial multi-family
$
-
$
5,443
$
8,700
$
14,143
$
2,077,476
$
2,091,619
$
8,700
$
-
Commercial real estate:
Non-owner occupied
6,792
-
8,015
14,807
2,101,925
2,116,732
8,015
-
Owner occupied
-
-
5,191
5,191
1,776,644
1,781,835
5,191
-
Commercial and industrial
10,336
5,323
1,938
17,597
2,377,071
2,394,668
1,748
190
Construction
-
-
-
-
1,051,502
1,051,502
-
-
Mortgage
18,148
5,417
29,890
53,455
1,250,847
1,304,302
29,890
-
Consumer:
Credit cards
-
-
-
-
26
26
-
-
Home equity lines of credit
530
986
3,393
4,909
66,622
71,531
3,393
-
Personal
1,808
1,509
1,741
5,058
99,809
104,867
1,741
-
Other
514
-
11
525
11,024
11,549
11
-
Total
$
38,128
$
18,678
$
58,879
$
115,685
$
10,812,946
$
10,928,631
$
58,689
$
190
31
December 31, 2024
Popular, Inc.
Past due
Past due 90 days or more
30-59
60-89
90 days
Total
Non-accrual
Accruing
(In thousands)
days
days
or more
past due
Current
Loans HIP
[2]
[3]
loans
loans
Commercial multi-family
$
1,491
$
5,556
$
8,779
$
15,826
$
2,383,794
$
2,399,620
$
8,779
$
-
Commercial real estate:
Non-owner occupied
9,895
586
14,444
24,925
5,338,310
5,363,235
14,444
-
Owner occupied
11,054
808
30,449
42,311
3,115,435
3,157,746
30,449
-
Commercial and industrial
16,074
8,035
25,833
49,942
7,691,620
7,741,562
21,083
4,750
Construction
1,039
-
-
1,039
1,262,753
1,263,792
-
-
Mortgage
[1]
280,370
122,111
395,649
798,130
7,316,053
8,114,183
188,332
207,317
Leasing
23,991
6,062
9,588
39,641
1,885,764
1,925,405
9,588
-
Consumer:
Credit cards
17,399
11,719
29,960
59,078
1,159,001
1,218,079
-
29,960
Home equity lines of credit
546
1,115
3,393
5,054
68,517
73,571
3,393
-
Personal
21,311
14,514
22,010
57,835
1,797,409
1,855,244
22,010
-
Auto
111,358
27,858
51,792
191,008
3,632,429
3,823,437
51,792
-
Other
2,330
277
1,323
3,930
167,848
171,778
910
413
Total
$
496,858
$
198,641
$
593,220
$
1,288,719
$
35,818,933
$
37,107,652
$
350,780
$
242,440
[1]
At December 31, 2024 mortgage loans held-in-portfolio include
$
2.6
billion of loans that carry certain guarantees from the FHA
or the VA, for
which the Corporation’s policy is to exclude them
from non-performing status, of which $
207
million are 90 days or more past due. The portfolio
of
guaranteed loans includes $
65
million of residential mortgage loans in Puerto Rico that
are no longer accruing interest as of December 31,
2024.
The Corporation has $
31
million in reverse mortgage loans in Puerto Rico which
are guaranteed by FHA, but which are currently not accruing
interest at December 31, 2024.
[2]
Loans held-in-portfolio are net of $
415
million in unearned income and exclude $
5
million in loans held-for-sale.
[3]
Includes $
16.8
billion pledged to secure credit facilities and public funds
that the secured parties are not permitted to sell or repledge
the collateral,
of which $
7.3
billion were pledged at the FHLB as collateral for borrowings
and $
9.5
billion at the FRB for discount window borrowings. As
of
December 31, 2024, the Corporation had an available borrowing
facility with the FHLB and the discount window
of FRB of $
3.8
billion and $
7
.0
billion, respectively.
Recognition of interest income on mortgage loans is generally discontinued when loans are 90 days or more in arrears on payments
of principal or interest. The Corporation discontinues the recognition of interest income on residential mortgage loans insured by the
FHA or guaranteed by the VA when 15 months
delinquent as to principal or interest, since the principal repayment on these loans is
insured.
Loans with a
delinquency status of 90
days past due
as of June
30, 2025 include
$
8
million in loans
previously pooled into
GNMA
securities (December 31, 2024 - $
9
million). Under the GNMA program, issuers such as BPPR have
the option but not the obligation
to repurchase loans that
are 90 days or
more past due. For
accounting purposes, these loans subject to
the repurchase option are
required to be reflected on the financial statements of BPPR with an offsetting liability.
Loans in our serviced GNMA portfolio benefit
from payment forbearance programs but continue to reflect the
contractual delinquency until the borrower repays deferred payments
or completes a payment deferral modification or other
borrower assistance alternative.
The following tables present the amortized cost basis
of non-accrual loans as of June 30, 2025 and
December 31, 2024 by class of
loans:
32
June 30, 2025
BPPR
Popular U.S.
Popular, Inc.
(In thousands)
Non-accrual
with no
allowance
Non-accrual
with
allowance
Non-accrual
with no
allowance
Non-accrual
with
allowance
Non-accrual
with no
allowance
Non-accrual
with
allowance
Commercial multi-family
$
-
$
174
$
10,751
$
-
$
10,751
$
174
Commercial real estate non-owner occupied
3,168
2,916
7,016
877
10,184
3,793
Commercial real estate owner occupied
17,795
9,525
-
231
17,795
9,756
Commercial and industrial
-
8,588
-
2,836
-
11,424
Mortgage
63,464
84,000
905
27,147
64,369
111,147
Leasing
479
7,497
-
-
479
7,497
Consumer:
HELOCs
-
-
-
3,120
-
3,120
Personal
3,460
14,039
-
1,094
3,460
15,133
Auto
1,973
38,622
-
-
1,973
38,622
Other
-
1,948
-
-
-
1,948
Total
$
90,339
$
167,309
$
18,672
$
35,305
$
109,011
$
202,614
December 31, 2024
BPPR
Popular U.S.
Popular, Inc.
(In thousands)
Non-accrual
with no
allowance
Non-accrual
with
allowance
Non-accrual
with no
allowance
Non-accrual
with
allowance
Non-accrual
with no
allowance
Non-accrual
with
allowance
Commercial multi-family
$
-
$
79
$
8,700
$
-
$
8,700
$
79
Commercial real estate non-owner occupied
3,450
2,979
7,115
900
10,565
3,879
Commercial real estate owner occupied
17,767
7,491
4,957
234
22,724
7,725
Commercial and industrial
9,020
10,315
-
1,748
9,020
12,063
Mortgage
66,176
92,266
1,069
28,821
67,245
121,087
Leasing
500
9,088
-
-
500
9,088
Consumer:
HELOCs
-
-
-
3,393
-
3,393
Personal
2,960
17,309
-
1,741
2,960
19,050
Auto
1,992
49,800
-
-
1,992
49,800
Other
-
899
-
11
-
910
Total
$
101,865
$
190,226
$
21,841
$
36,848
$
123,706
$
227,074
The Corporation has
designated loans classified as
collateral dependent for
which the ACL
is measured based
on the fair
value of
the collateral less
cost to sell,
when foreclosure is
probable or when
the repayment is
expected to be
provided substantially by the
sale or
operation of
the collateral
and the
borrower is
experiencing financial
difficulty.
The fair
value of
the collateral
is based
on
appraisals,
which
may
be
adjusted
due
to
their
age,
type,
location,
and
condition
of
the
property
or
area
or
general
market
conditions to reflect the expected change in value between the effective date
of the appraisal and the measurement date. Appraisals
are updated every one to two years depending on
the type of loan and the total exposure of
the borrower.
Loans in
non-accrual status with
no allowance
at June
30, 2025 include
$
109
million in
collateral dependent loans
(December 31,
2024 -
$
124
million). The
Corporation recognized $
3
million in
interest income
on non-accrual
loans during
the six
months ended
June 30, 2025 (June 30, 2024 - $
2
million).
The following tables present the amortized cost basis
of collateral-dependent loans, for which the ACL was measured
based on the
fair value of the collateral less cost to sell, by
class of loans and type of collateral as of June
30, 2025 and December 31, 2024:
33
June 30, 2025
(In thousands)
Real Estate
Auto
Equipment
Accounts
Receivables
Other
Total
BPPR
Commercial multi-family
$
1,250
$
-
$
-
$
-
$
-
$
1,250
Commercial real estate:
Non-owner occupied
143,152
-
-
-
-
143,152
Owner occupied
24,596
-
-
-
-
24,596
Commercial and industrial
2,436
-
-
124
2,248
4,808
Mortgage
71,234
-
-
-
-
71,234
Leasing
-
1,393
-
-
-
1,393
Consumer:
Personal
3,572
-
-
-
-
3,572
Auto
-
16,545
-
-
-
16,545
Other
-
12
-
-
-
12
Total BPPR
$
246,240
$
17,950
$
-
$
124
$
2,248
$
266,562
Popular U.S.
Commercial multi-family
$
16,542
$
-
$
-
$
-
$
-
$
16,542
Commercial real estate:
Non-owner occupied
65,668
-
-
-
-
65,668
Commercial and industrial
-
-
13
-
-
13
Mortgage
1,408
-
-
-
-
1,408
Total Popular U.S.
$
83,618
$
-
$
13
$
-
$
-
$
83,631
Popular, Inc.
Commercial multi-family
$
17,792
$
-
$
-
$
-
$
-
$
17,792
Commercial real estate:
Non-owner occupied
208,820
-
-
-
-
208,820
Owner occupied
24,596
-
-
-
-
24,596
Commercial and industrial
2,436
-
13
124
2,248
4,821
Mortgage
72,642
-
-
-
-
72,642
Leasing
-
1,393
-
-
-
1,393
Consumer:
Personal
3,572
-
-
-
-
3,572
Auto
-
16,545
-
-
-
16,545
Other
-
12
-
-
-
12
Total Popular,
Inc.
$
329,858
$
17,950
$
13
$
124
$
2,248
$
350,193
34
December 31, 2024
(In thousands)
Real Estate
Auto
Equipment
Other
Total
BPPR
Commercial multi-family
$
1,278
$
-
$
-
$
-
$
1,278
Commercial real estate:
Non-owner occupied
145,974
-
-
-
145,974
Owner occupied
23,361
-
-
-
23,361
Commercial and industrial
2,754
-
-
11,593
14,347
Construction
576
-
-
-
576
Mortgage
77,910
-
-
-
77,910
Leasing
-
1,437
1
-
1,438
Consumer:
Personal
3,347
-
-
-
3,347
Auto
-
15,782
-
-
15,782
Other
-
-
-
16
16
Total BPPR
$
255,200
$
17,219
$
1
$
11,609
$
284,029
Popular U.S.
Commercial multi-family
$
14,517
$
-
$
-
$
-
$
14,517
Commercial real estate:
Non-owner occupied
7,116
-
-
-
7,116
Owner occupied
4,956
-
-
-
4,956
Commercial and industrial
-
-
18
1,154
1,172
Mortgage
1,430
-
-
-
1,430
Total Popular U.S.
$
28,019
$
-
$
18
$
1,154
$
29,191
Popular, Inc.
Commercial multi-family
$
15,795
$
-
$
-
$
-
$
15,795
Commercial real estate:
Non-owner occupied
153,090
-
-
-
153,090
Owner occupied
28,317
-
-
-
28,317
Commercial and industrial
2,754
-
18
12,747
15,519
Construction
576
-
-
-
576
Mortgage
79,340
-
-
-
79,340
Leasing
-
1,437
1
-
1,438
Consumer:
Personal
3,347
-
-
-
3,347
Auto
-
15,782
-
-
15,782
Other
-
-
-
16
16
Total Popular,
Inc.
$
283,219
$
17,219
$
19
$
12,763
$
313,220
35
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.
At June
30, 2025,
the Corporation
estimated the
ACL by
weighting the
outputs of
optimistic, baseline,
and pessimistic
scenarios.
The
weightings applied
are subject
to
evaluation on
a
quarterly basis
as
part
of
the ACL’s
governance process.
During the
first
quarter
of
2025,
the
Corporation
assigned
equal
probability
weights
to
the
baseline
and
pessimistic
scenarios
in
response
to
economic uncertainty,
the optimistic scenario
being the lowest
of probabilities. During
the second
quarter of 2025,
the Corporation
moderately
reduced
the
probability
weight
for
the
pessimistic
scenario
based
on
changes
in
the
economic
outlook
and
a
reassessment of uncertainty compared to the previous quarter. The net impact of these two changes in the
assigned weights on the
ACL
levels
for
the
six
months
ended
June
30,
2025
was
$
13.7
million
in
additional
reserves.
The
probability
weight
for
the
pessimistic scenario remains above the levels observed
in 2024, given the ongoing economic uncertainty.
The following tables
present the changes
in the ACL
of loans
held-in-portfolio and unfunded
commitments for the
quarters and six
months ended June 30, 2025 and 2024.
36
For the quarter ended June 30, 2025
BPPR
Provision for
Beginning
credit losses
Ending
(In thousands)
Balance
(benefit)
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
3,420
$
270
$
-
$
6
$
3,696
Commercial real estate non-owner occupied
42,848
( 160 )
( 21 )
472
43,139
Commercial real estate owner occupied
36,019
( 1,176 )
( 14 )
1,019
35,848
Commercial and industrial
131,407
( 6,769 )
( 2,466 )
1,030
123,202
Total Commercial
213,694
( 7,835 )
( 2,501 )
2,527
205,885
Construction
2,719
356
-
-
3,075
Mortgage
74,289
( 1,752 )
( 550 )
2,979
74,966
Leasing
20,206
2,570
( 3,982 )
1,246
20,040
Consumer
Credit cards
96,523
13,094
( 20,011 )
2,700
92,306
Home equity lines of credit
60
( 313 )
-
307
54
Personal
89,786
18,881
( 19,553 )
3,777
92,891
Auto
171,979
16,852
( 13,418 )
6,861
182,274
Other
7,007
1,297
( 700 )
154
7,758
Total Consumer
365,355
49,811
( 53,682 )
13,799
375,283
Total - Loans
$
676,263
$
43,150
$
( 60,715 )
$
20,551
$
679,249
Allowance for credit losses - unfunded commitments:
Commercial
$
7,445
$
( 1,569 )
$
-
$
-
$
5,876
Construction
1,560
309
-
-
1,869
Ending balance - unfunded commitments [1]
$
9,005
$
( 1,260 )
$
-
$
-
$
7,745
[1] Allowance for credit losses of unfunded commitments
is presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
37
For the quarter ended June 30, 2025
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
$
10,081
$
3,567
$
( 563 )
$
-
$
13,085
Commercial real estate non-owner occupied
15,453
525
-
-
15,978
Commercial real estate owner occupied
14,193
( 1,016 )
( 14 )
40
13,203
Commercial and industrial
16,422
1,533
( 49 )
254
18,160
Total Commercial
56,149
4,609
( 626 )
294
60,426
Construction
6,793
711
-
-
7,504
Mortgage
9,740
437
-
32
10,209
Consumer
Home equity lines of credit
1,550
( 799 )
( 16 )
595
1,330
Personal
11,651
1,417
( 2,920 )
615
10,763
Other
2
14
( 13 )
1
4
Total Consumer
13,203
632
( 2,949 )
1,211
12,097
Total - Loans
$
85,885
$
6,389
$
( 3,575 )
$
1,537
$
90,236
Allowance for credit losses - unfunded commitments:
Commercial
$
1,630
$
305
$
-
$
-
$
1,935
Construction
3,492
( 203 )
-
-
3,289
Consumer
42
42
-
-
84
Ending balance - unfunded commitments [1]
$
5,164
$
144
$
-
$
-
$
5,308
[1]
Allowance for credit losses of unfunded commitments is
presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
38
For the quarter ended June 30, 2025
Popular Inc.
Provision for
Beginning
credit losses
Ending
(In thousands)
Balance
(benefit)
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
13,501
$
3,837
$
( 563 )
$
6
$
16,781
Commercial real estate non-owner occupied
58,301
365
( 21 )
472
59,117
Commercial real estate owner occupied
50,212
( 2,192 )
( 28 )
1,059
49,051
Commercial and industrial
147,829
( 5,236 )
( 2,515 )
1,284
141,362
Total Commercial
269,843
( 3,226 )
( 3,127 )
2,821
266,311
Construction
9,512
1,067
-
-
10,579
Mortgage
84,029
( 1,315 )
( 550 )
3,011
85,175
Leasing
20,206
2,570
( 3,982 )
1,246
20,040
Consumer
Credit cards
96,523
13,094
( 20,011 )
2,700
92,306
Home equity lines of credit
1,610
( 1,112 )
( 16 )
902
1,384
Personal
101,437
20,298
( 22,473 )
4,392
103,654
Auto
171,979
16,852
( 13,418 )
6,861
182,274
Other
7,009
1,311
( 713 )
155
7,762
Total Consumer
378,558
50,443
( 56,631 )
15,010
387,380
Total - Loans
$
762,148
$
49,539
$
( 64,290 )
$
22,088
$
769,485
Allowance for credit losses - unfunded commitments:
Commercial
$
9,075
$
( 1,264 )
$
-
$
-
$
7,811
Construction
5,052
106
-
-
5,158
Consumer
42
42
-
-
84
Ending balance - unfunded commitments [1]
$
14,169
$
( 1,116 )
$
-
$
-
$
13,053
[1]
Allowance for credit losses of unfunded commitments is
presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
39
For the six months ended June 30, 2025
BPPR
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
2,783
$
905
$
-
$
-
$
8
$
3,696
Commercial real estate non-owner occupied
44,852
( 2,759 )
-
( 86 )
1,132
43,139
Commercial real estate owner occupied
37,355
( 2,918 )
-
( 103 )
1,514
35,848
Commercial and industrial
130,136
( 7,026 )
-
( 5,778 )
5,870
123,202
Total Commercial
215,126
( 11,798 )
-
( 5,967 )
8,524
205,885
Construction
2,743
332
-
-
-
3,075
Mortgage
72,901
( 2,870 )
9
( 985 )
5,911
74,966
Leasing
16,419
9,629
-
( 8,526 )
2,518
20,040
Consumer
Credit cards
99,130
26,916
-
( 38,876 )
5,136
92,306
Home equity lines of credit
54
( 421 )
-
( 25 )
446
54
Personal
91,296
35,709
-
( 41,506 )
7,392
92,891
Auto
165,995
36,323
-
( 34,474 )
14,430
182,274
Other
7,002
2,020
-
( 1,580 )
316
7,758
Total Consumer
363,477
100,547
-
( 116,461 )
27,720
375,283
Total - Loans
$
670,666
$
95,840
$
9
$
( 131,939 )
$
44,673
$
679,249
Allowance for credit losses - unfunded commitments:
Commercial
$
6,725
$
( 849 )
$
-
$
-
$
-
$
5,876
Construction
1,663
206
-
-
-
1,869
Ending balance - unfunded commitments [1]
$
8,388
$
( 643 )
$
-
$
-
$
-
$
7,745
[1]
Allowance for credit losses of unfunded commitments is
presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
40
For the six months ended June 30, 2025
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
$
6,453
$
7,194
$
( 563 )
$
1
$
13,085
Commercial real estate non-owner occupied
9,642
6,336
-
-
15,978
Commercial real estate owner occupied
12,473
193
( 26 )
563
13,203
Commercial and industrial
15,870
3,010
( 1,196 )
476
18,160
Total Commercial
44,438
16,733
( 1,785 )
1,040
60,426
Construction
8,521
( 1,017 )
-
-
7,504
Mortgage
9,508
484
-
217
10,209
Consumer
Home equity lines of credit
1,449
( 935 )
( 46 )
862
1,330
Personal
11,440
3,617
( 5,546 )
1,252
10,763
Other
2
35
( 42 )
9
4
Total Consumer
12,891
2,717
( 5,634 )
2,123
12,097
Total - Loans
$
75,358
$
18,917
$
( 7,419 )
$
3,380
$
90,236
Allowance for credit losses - unfunded commitments:
Commercial
$
1,662
$
273
$
-
$
-
$
1,935
Construction
5,409
( 2,120 )
-
-
3,289
Consumer
11
73
-
-
84
Ending balance - unfunded commitments [1]
$
7,082
$
( 1,774 )
$
-
$
-
$
5,308
[1]
Allowance for credit losses of unfunded commitments is
presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
41
For the six months ended June 30, 2025
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
$
9,236
$
8,099
$
-
$
( 563 )
$
9
$
16,781
Commercial real estate non-owner occupied
54,494
3,577
-
( 86 )
1,132
59,117
Commercial real estate owner occupied
49,828
( 2,725 )
-
( 129 )
2,077
49,051
Commercial and industrial
146,006
( 4,016 )
-
( 6,974 )
6,346
141,362
Total Commercial
259,564
4,935
-
( 7,752 )
9,564
266,311
Construction
11,264
( 685 )
-
-
-
10,579
Mortgage
82,409
( 2,386 )
9
( 985 )
6,128
85,175
Leasing
16,419
9,629
-
( 8,526 )
2,518
20,040
Consumer
Credit cards
99,130
26,916
-
( 38,876 )
5,136
92,306
Home equity lines of credit
1,503
( 1,356 )
-
( 71 )
1,308
1,384
Personal
102,736
39,326
-
( 47,052 )
8,644
103,654
Auto
165,995
36,323
-
( 34,474 )
14,430
182,274
Other
7,004
2,055
-
( 1,622 )
325
7,762
Total Consumer
376,368
103,264
-
( 122,095 )
29,843
387,380
Total - Loans
$
746,024
$
114,757
$
9
$
( 139,358 )
$
48,053
$
769,485
Allowance for credit losses - unfunded commitments:
Commercial
$
8,387
$
( 576 )
$
-
$
-
$
-
$
7,811
Construction
7,072
( 1,914 )
-
-
-
5,158
Consumer
11
73
-
-
-
84
Ending balance - unfunded commitments [1]
$
15,470
$
( 2,417 )
$
-
$
-
$
-
$
13,053
[1]
Allowance for credit losses of unfunded commitments is
presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
42
For the quarter ended June 30, 2024
BPPR
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
3,567
$
( 264 )
$
-
$
-
$
-
$
3,303
Commercial real estate non-owner occupied
53,666
( 324 )
-
-
44
53,386
Commercial real estate owner occupied
43,537
( 5,296 )
-
-
1,134
39,375
Commercial and industrial
102,844
14,440
-
( 8,072 )
2,051
111,263
Total Commercial
203,614
8,556
-
( 8,072 )
3,229
207,327
Construction
3,114
524
-
-
-
3,638
Mortgage
76,564
( 6,419 )
6
( 26 )
3,775
73,900
Leasing
8,991
8,094
-
( 3,841 )
1,141
14,385
Consumer
Credit cards
88,169
11,856
-
( 16,419 )
2,707
86,313
Home equity lines of credit
102
22
-
( 94 )
53
83
Personal
99,504
15,492
-
( 23,293 )
2,318
94,021
Auto
157,456
10,250
-
( 16,609 )
6,352
157,449
Other
6,808
210
-
( 680 )
151
6,489
Total Consumer
352,039
37,830
-
( 57,095 )
11,581
344,355
Total - Loans
$
644,322
$
48,585
$
6
$
( 69,034 )
$
19,726
$
643,605
Allowance for credit losses - unfunded commitments:
Commercial
$
4,942
$
598
$
-
$
-
$
-
$
5,540
Construction
1,441
654
-
-
-
2,095
Ending balance - unfunded commitments [1]
$
6,383
$
1,252
$
-
$
-
$
-
$
7,635
[1]
Allowance for credit losses of unfunded commitments is
presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
43
For the quarter ended June 30, 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
$
9,176
$
( 1,303 )
$
-
$
4
$
7,877
Commercial real estate non-owner occupied
11,958
( 1,151 )
-
42
10,849
Commercial real estate owner occupied
20,270
( 1,514 )
-
59
18,815
Commercial and industrial
17,574
( 1,367 )
( 1,195 )
207
15,219
Total Commercial
58,978
( 5,335 )
( 1,195 )
312
52,760
Construction
8,025
1,126
-
100
9,251
Mortgage
9,874
( 502 )
( 18 )
35
9,389
Consumer
Home equity lines of credit
1,770
( 510 )
( 14 )
397
1,643
Personal
16,573
795
( 4,596 )
655
13,427
Other
2
( 2 )
( 18 )
20
2
Total Consumer
18,345
283
( 4,628 )
1,072
15,072
Total - Loans
$
95,222
$
( 4,428 )
$
( 5,841 )
$
1,519
$
86,472
Allowance for credit losses - unfunded commitments:
Commercial
$
2,542
$
308
$
-
$
-
$
2,850
Construction
7,837
562
-
-
8,399
Consumer
5
( 5 )
-
-
-
Ending balance - unfunded commitments [1]
$
10,384
$
865
$
-
$
-
$
11,249
[1]
Allowance for credit losses of unfunded commitments is
presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
44
For the quarter ended June 30, 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
$
12,743
$
( 1,567 )
$
-
$
-
$
4
$
11,180
Commercial real estate non-owner occupied
65,624
( 1,475 )
-
-
86
64,235
Commercial real estate owner occupied
63,807
( 6,810 )
-
-
1,193
58,190
Commercial and industrial
120,418
13,073
-
( 9,267 )
2,258
126,482
Total Commercial
262,592
3,221
-
( 9,267 )
3,541
260,087
Construction
11,139
1,650
-
-
100
12,889
Mortgage
86,438
( 6,921 )
6
( 44 )
3,810
83,289
Leasing
8,991
8,094
-
( 3,841 )
1,141
14,385
Consumer
Credit cards
88,169
11,856
-
( 16,419 )
2,707
86,313
Home equity lines of credit
1,872
( 488 )
-
( 108 )
450
1,726
Personal
116,077
16,287
-
( 27,889 )
2,973
107,448
Auto
157,456
10,250
-
( 16,609 )
6,352
157,449
Other
6,810
208
-
( 698 )
171
6,491
Total Consumer
370,384
38,113
-
( 61,723 )
12,653
359,427
Total - Loans
$
739,544
$
44,157
$
6
$
( 74,875 )
$
21,245
$
730,077
Allowance for credit losses - unfunded commitments:
Commercial
$
7,484
$
906
$
-
$
-
$
-
$
8,390
Construction
9,278
1,216
-
-
-
10,494
Consumer
5
( 5 )
-
-
-
-
Ending balance - unfunded commitments [1]
$
16,767
$
2,117
$
-
$
-
$
-
$
18,884
[1]
Allowance for credit losses of unfunded commitments is
presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
45
For the six months ended June 30, 2024
BPPR
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
3,614
$
( 312 )
$
-
$
-
$
1
$
3,303
Commercial real estate non-owner occupied
53,754
( 737 )
-
-
369
53,386
Commercial real estate owner occupied
40,637
( 149 )
-
( 2,785 )
1,672
39,375
Commercial and industrial
107,577
14,816
-
( 14,741 )
3,611
111,263
Total Commercial
205,582
13,618
-
( 17,526 )
5,653
207,327
Construction
5,294
( 1,656 )
-
-
-
3,638
Mortgage
72,440
( 6,738 )
23
( 791 )
8,966
73,900
Leasing
9,708
11,062
-
( 8,691 )
2,306
14,385
Consumer
Credit cards
80,487
33,496
-
( 32,815 )
5,145
86,313
Home equity lines of credit
103
125
-
( 291 )
146
83
Personal
101,181
35,755
-
( 47,642 )
4,727
94,021
Auto
157,931
23,621
-
( 36,776 )
12,673
157,449
Other
7,132
310
-
( 1,344 )
391
6,489
Total Consumer
346,834
93,307
-
( 118,868 )
23,082
344,355
Total - Loans
$
639,858
$
109,593
$
23
$
( 145,876 )
$
40,007
$
643,605
Allowance for credit losses - unfunded commitments:
Commercial
$
5,062
$
478
$
-
$
-
$
-
$
5,540
Construction
1,618
477
-
-
-
2,095
Ending balance - unfunded commitments [1]
$
6,680
$
955
$
-
$
-
$
-
$
7,635
[1]
Allowance for credit losses of unfunded commitments is
presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
46
For the six months ended June 30, 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
$
( 1,813 )
$
( 441 )
$
5
$
7,877
Commercial real estate non-owner occupied
11,699
( 956 )
-
106
10,849
Commercial real estate owner occupied
16,227
2,505
-
83
18,815
Commercial and industrial
14,779
1,836
( 1,759 )
363
15,219
Total Commercial
52,831
1,572
( 2,200 )
557
52,760
Construction
7,392
1,759
-
100
9,251
Mortgage
10,774
( 1,427 )
( 18 )
60
9,389
Consumer
Home equity lines of credit
1,875
( 763 )
( 21 )
552
1,643
Personal
16,609
5,786
( 10,308 )
1,340
13,427
Other
2
23
( 49 )
26
2
Total Consumer
18,486
5,046
( 10,378 )
1,918
15,072
Total - Loans
$
89,483
$
6,950
$
( 12,596 )
$
2,635
$
86,472
Allowance for credit losses - unfunded commitments:
Commercial
$
1,851
$
999
$
-
$
-
$
2,850
Construction
8,446
( 47 )
-
-
8,399
Consumer
29
( 29 )
-
-
-
Ending balance - unfunded commitments [1]
$
10,326
$
923
$
-
$
-
$
11,249
[1]
Allowance for credit losses of unfunded commitments is
presented as part of Other Liabilities in the Consolidated
Statements of Financial Condition.
47
For the six months ended June 30, 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
$
( 2,125 )
$
-
$
( 441 )
$
6
$
11,180
Commercial real estate non-owner occupied
65,453
( 1,693 )
-
-
475
64,235
Commercial real estate owner occupied
56,864
2,356
-
( 2,785 )
1,755
58,190
Commercial and industrial
122,356
16,652
-
( 16,500 )
3,974
126,482
Total Commercial
258,413
15,190
-
( 19,726 )
6,210
260,087
Construction
12,686
103
-
-
100
12,889
Mortgage
83,214
( 8,165 )
23
( 809 )
9,026
83,289
Leasing
9,708
11,062
-
( 8,691 )
2,306
14,385
Consumer
Credit cards
80,487
33,496
-
( 32,815 )
5,145
86,313
Home equity lines of credit
1,978
( 638 )
-
( 312 )
698
1,726
Personal
117,790
41,541
-
( 57,950 )
6,067
107,448
Auto
157,931
23,621
-
( 36,776 )
12,673
157,449
Other
7,134
333
-
( 1,393 )
417
6,491
Total Consumer
365,320
98,353
-
( 129,246 )
25,000
359,427
Total - Loans
$
729,341
$
116,543
$
23
$
( 158,472 )
$
42,642
$
730,077
Allowance for credit losses - unfunded commitments:
Commercial
$
6,913
$
1,477
$
-
$
-
$
-
$
8,390
Construction
10,064
430
-
-
-
10,494
Consumer
29
( 29 )
-
-
-
-
Ending balance - unfunded commitments [1]
$
17,006
$
1,878
$
-
$
-
$
-
$
18,884
[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 six
months ended
June 30,
2025 amounted
to $
158
million (During
the year
ended December
31,
2024 - $
75
million), 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 quarters and
six months
ended June 30, 2025 and 2024. Loans modified
to borrowers experiencing financial difficulties that were fully paid down,
charged-off
or foreclosed upon by period end are not reported.
48
Loan Modifications Made to Borrowers Experiencing Financial
Difficulty for the quarter ended June 30, 2025
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June
30, 2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at June
30, 2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30, 2025
% of total class of
Financing
Receivable
Commercial and industrial
$
837
0.01
%
$
-
-
%
$
837
0.01
%
Mortgage
69
-
%
-
-
%
69
-
%
Consumer:
-
Credit cards
395
0.03
%
-
-
%
395
0.03
%
Personal
1,159
0.06
%
-
-
%
1,159
0.06
%
Total
$
2,460
0.01
%
$
-
-
%
$
2,460
0.01
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June
30, 2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at June
30, 2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30, 2025
% of total class of
Financing
Receivable
CRE non-owner occupied
$
108
-
%
$
58,652
2.68
%
$
58,760
1.06
%
CRE owner occupied
5,308
0.44
%
-
-
%
5,308
0.18
%
Commercial and industrial
5,693
0.10
%
-
-
%
5,693
0.07
%
Mortgage
12,983
0.18
%
665
0.05
%
13,648
0.16
%
Consumer:
-
Personal
260
0.01
%
21
0.02
%
281
0.01
%
Auto
49
-
%
-
-
%
49
-
%
Total
$
24,401
0.09
%
$
59,338
0.52
%
$
83,739
0.22
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June
30, 2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at June
30, 2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30, 2025
% of total class of
Financing
Receivable
CRE non-owner occupied
$
4,436
0.13
%
$
-
-
%
$
4,436
0.08
%
CRE owner occupied
8,827
0.73
%
-
-
%
8,827
0.29
%
Commercial and industrial
166,870
2.98
%
-
-
%
166,870
2.07
%
Mortgage
420
0.01
%
-
-
%
420
-
%
Total
$
180,553
0.67
%
$
-
-
%
$
180,553
0.47
%
Combination - Term Extension
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June
30, 2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at June
30, 2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30, 2025
% of total class of
Financing
Receivable
Commercial and industrial
$
100
-
%
$
-
-
%
$
100
-
%
Mortgage
3,936
0.06
%
-
-
%
3,936
0.05
%
Consumer:
Personal
3,429
0.19
%
73
0.09
%
3,502
0.19
%
Auto
16
-
%
-
-
%
16
-
%
Total
$
7,481
0.03
%
$
73
-
%
$
7,554
0.02
%
Combination -
Other-Than-Insignificant Payment Delays and Interest Rate
Reduction
Puerto Rico
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June
30, 2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at June
30, 2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June
30, 2025
% of total class of
Financing
Receivable
Commercial and industrial
$
310
0.01
%
$
-
-
%
$
310
-
%
Consumer:
Credit cards
2,293
0.19
%
-
-
%
2,293
0.19
%
Total
$
2,603
0.01
%
$
-
-
%
$
2,603
0.01
%
49
Loan Modifications Made to Borrowers Experiencing Financial
Difficulty for the six months ended June 30,
2025
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Commercial and industrial
$
2,048
0.04
%
$
-
-
%
$
2,048
0.03
%
Mortgage
69
-
%
-
-
%
69
-
%
Consumer:
Credit cards
542
0.04
%
-
-
%
542
0.04
%
Personal
2,280
0.13
%
-
-
%
2,280
0.12
%
Other
5
-
%
-
-
%
5
-
%
Total
$
4,944
0.02
%
$
-
-
%
$
4,944
0.01
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
CRE non-owner occupied
$
108
-
%
$
58,652
2.68
%
$
58,760
1.06
%
CRE owner occupied
5,308
0.44
%
-
-
%
5,308
0.18
%
Commercial and industrial
11,271
0.20
%
-
-
%
11,271
0.14
%
Mortgage
22,922
0.32
%
665
0.05
%
23,587
0.28
%
Consumer:
Personal
495
0.03
%
21
0.02
%
516
0.03
%
Auto
87
-
%
-
-
%
87
-
%
Total
$
40,191
0.15
%
$
59,338
0.52
%
$
99,529
0.26
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
CRE non-owner occupied
$
4,436
0.13
%
$
-
-
%
$
4,436
0.08
%
CRE owner occupied
20,980
1.75
%
-
-
%
20,980
0.70
%
Commercial and industrial
177,506
3.17
%
-
-
%
177,506
2.21
%
Mortgage
420
0.01
%
-
-
%
420
-
%
Total
$
203,342
0.76
%
$
-
-
%
$
203,342
0.53
%
Combination - Term Extension
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Commercial and industrial
$
100
-
%
$
-
-
%
$
100
-
%
Mortgage
7,061
0.10
%
-
-
%
7,061
0.08
%
Consumer:
Personal
6,534
0.36
%
114
0.14
%
6,648
0.35
%
Auto
16
-
%
-
-
%
16
-
%
Total
$
13,711
0.05
%
$
114
-
%
$
13,825
0.04
%
50
Combination - Other-Than-Insignificant Payment Delays
and Interest Rate Reduction
Puerto Rico
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2025
% of total class of
Financing
Receivable
Commercial and industrial
$
861
0.02
%
$
-
-
%
$
861
0.01
%
Consumer:
Credit cards
4,867
0.40
%
-
-
%
4,867
0.40
%
Total
$
5,728
0.02
%
$
-
-
%
$
5,728
0.02
%
51
Loan Modifications Made to Borrowers Experiencing Financial
Difficulty for the quarter ended June 30, 2024
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2024
% of total class
of Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
CRE owner occupied
$
33
-
%
$
-
-
%
$
33
-
%
Commercial and industrial
1,747
0.03
%
-
-
%
1,747
0.02
%
Mortgage
42
-
%
-
-
%
42
-
%
Consumer:
Credit cards
422
0.04
%
-
-
%
422
0.04
%
Personal
848
0.05
%
-
-
%
848
0.05
%
Other
25
0.02
%
-
-
%
25
0.02
%
Total
$
3,117
0.01
%
$
-
-
%
$
3,117
0.01
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2024
% of total class
of Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
CRE non-owner occupied
$
3,084
0.10
%
$
-
-
%
$
3,084
0.06
%
CRE owner occupied
1,134
0.08
%
6,071
0.35
%
7,205
0.23
%
Commercial and industrial
23,059
0.46
%
-
-
%
23,059
0.32
%
Mortgage
16,933
0.26
%
642
0.05
%
17,575
0.22
%
Consumer:
Personal
238
0.01
%
136
0.10
%
374
0.02
%
Auto
56
-
%
-
-
%
56
-
%
Total
$
44,504
0.18
%
$
6,849
0.07
%
$
51,353
0.14
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2024
% of total class
of Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
CRE non-owner occupied
$
57,071
1.92
%
$
-
-
%
$
57,071
1.14
%
CRE owner occupied
6,230
0.44
%
-
-
%
6,230
0.20
%
Commercial and industrial
52,124
1.04
%
-
-
%
52,124
0.72
%
Mortgage
127
-
%
-
-
%
127
-
%
Total
$
115,552
0.46
%
$
-
-
%
$
115,552
0.32
%
Combination - Term Extension
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2024
% of total class
of Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Commercial and industrial
$
490
0.01
%
$
-
-
%
$
490
0.01
%
Mortgage
5,246
0.08
%
31
-
%
5,277
0.07
%
Consumer:
Personal
2,190
0.13
%
-
-
%
2,190
0.12
%
Total
$
7,926
0.03
%
$
31
-
%
$
7,957
0.02
%
Combination -
Other-Than-Insignificant Payment Delays and Interest Rate
Reduction
Puerto Rico
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2024
% of total class
of Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Commercial and industrial
$
89
-
%
$
-
-
%
$
89
-
%
Consumer:
Credit cards
243
0.02
%
-
-
%
243
0.02
%
Total
$
332
-
%
$
-
-
%
$
332
-
%
52
Loan Modifications Made to Borrowers Experiencing Financial
Difficulty for the six months ended June 30,
2024
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
CRE owner occupied
$
33
-
%
$
-
-
%
$
33
-
%
Commercial and industrial
2,122
0.04
%
-
-
%
2,122
0.03
%
Mortgage
42
-
%
-
-
%
42
-
%
Consumer:
Credit cards
549
0.05
%
-
-
%
549
0.05
%
Personal
1,085
0.06
%
-
-
%
1,085
0.06
%
Other
25
0.02
%
-
-
%
25
0.02
%
Total
$
3,856
0.02
%
$
-
-
%
$
3,856
0.01
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
CRE non-owner occupied
$
39,484
1.33
%
$
-
-
%
$
39,484
0.79
%
CRE owner occupied
11,718
0.83
%
6,071
0.35
%
17,789
0.57
%
Commercial and industrial
23,767
0.48
%
-
-
%
23,767
0.33
%
Mortgage
29,868
0.45
%
642
0.05
%
30,510
0.39
%
Consumer:
Personal
436
0.02
%
141
0.10
%
577
0.03
%
Auto
56
-
%
-
-
%
56
-
%
Total
$
105,329
0.42
%
$
6,854
0.07
%
$
112,183
0.32
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
CRE non-owner occupied
$
57,071
1.92
%
$
-
-
%
$
57,071
1.14
%
CRE owner occupied
16,207
1.14
%
-
-
%
16,207
0.52
%
Commercial and industrial
56,477
1.13
%
-
-
%
56,477
0.78
%
Mortgage
127
-
%
-
-
%
127
-
%
Total
$
129,882
0.52
%
$
-
-
%
$
129,882
0.36
%
Combination - Term Extension
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
CRE non-owner occupied
$
890
0.03
%
$
-
-
%
$
890
0.02
%
Commercial and industrial
586
0.01
%
-
-
%
586
0.01
%
Mortgage
8,655
0.13
%
68
0.01
%
8,723
0.11
%
Consumer:
Personal
3,234
0.19
%
144
0.11
%
3,378
0.18
%
Total
$
13,365
0.05
%
$
212
-
%
$
13,577
0.04
%
53
Combination - Other-Than-Insignificant Payment Delays
and Interest Rate Reduction
Puerto Rico
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at June 30,
2024
% of total class of
Financing
Receivable
Commercial and industrial
$
89
-
%
-
-
89
-
%
Consumer:
Credit cards
539
0.05
%
-
-
539
0.05
%
Total
$
628
-
%
$
-
-
$
628
-
%
54
The following tables describe the financial effect of the
modifications made to borrowers experiencing
financial difficulties:
For the quarter ended June 30, 2025
Interest rate reduction
Loan Type
Financial Effect
Commercial and industrial
Reduced weighted-average contractual interest rate from
22.7
% to
9.9
%.
Mortgage
Reduced weighted-average contractual interest rate from
7
.0% to
5.4
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
20.8
% to
7.9
%.
Personal
Reduced weighted-average contractual interest rate from
20.9
% to
11.1
%.
Auto
Reduced weighted-average contractual interest rate from
18.3
0% to
18.29
%.
Term extension
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
2
years to the life of loans.
CRE Owner occupied
Added a weighted-average of
17
months to the life of loans.
Commercial and industrial
Added a weighted-average of
10
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
5
years to the life of loans.
Auto
Added a weighted-average of
19
months to the life of loans.
Other than insignificant payment delays
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
14
months to the life of loans.
Commercial and industrial
Added a weighted-average of
11
months to the life of loans.
Mortgage
Added a weighted-average of
20
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
17
months to the life of loans.
For the six months ended June 30, 2025
Interest rate reduction
Loan Type
Financial Effect
Commercial and industrial
Reduced weighted-average contractual interest rate from
24.3
% to
9.7
%.
Mortgage
Reduced weighted-average contractual interest rate from
6.8
% to
5.5
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
21
.0% to
8.2
%.
Personal
Reduced weighted-average contractual interest rate from
21.3
% to
11.5
%.
Auto
Reduced weighted-average contractual interest rate from
18.3
0% to
18.29
%.
Other
Reduced weighted-average contractual interest rate from
18
.0% to
0
.0%.
Term extension
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
2
years to the life of loans.
CRE Owner occupied
Added a weighted-average of
17
months to the life of loans.
Commercial and industrial
Added a weighted-average of
17
months to the life of loans.
Mortgage
Added a weighted-average of
13
years to the life of loans.
Consumer:
Personal
Added a weighted-average of
5
years to the life of loans.
Auto
Added a weighted-average of
2
years to the life of loans.
55
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
10
months to the life of loans.
Commercial and industrial
Added a weighted-average of
11
months to the life of loans.
Mortgage
Added a weighted-average of
20
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
18
months to the life of loans.
56
For the quarter ended June 30, 2024
Interest rate reduction
Loan Type
Financial Effect
CRE Owner occupied
Reduced weighted-average contractual interest rate from
12
.0% to
5
.0%.
Commercial and industrial
Reduced weighted-average contractual interest rate from
18
.0% to
9.3
%.
Mortgage
Reduced weighted-average contractual interest rate from
6.4
% to
4.4
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
19.7
% to
4.2
%.
Personal
Reduced weighted-average contractual interest rate from
19.2
% to
10.1
%.
Other
Reduced weighted-average contractual interest rate from
18
.0% to
0
.0%.
Term extension
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
2
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
8
months to the life of loans.
Commercial and industrial
Added a weighted-average of
11
months to the life of loans.
Mortgage
Added a weighted-average of
13
years to the life of loans.
Consumer:
Personal
Added a weighted-average of
10
years to the life of loans.
Auto
Added a weighted-average of
4
years to the life of loans.
Other than insignificant payment delay
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
12
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
8
months to the life of loans.
Commercial and industrial
Added a weighted-average of
11
months to the life of loans.
Mortgage
Added a weighted-average of
30
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
24
months to the life of loans.
57
For the six months ended June 30, 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
12
.0% to
5
.0%.
Commercial and industrial
Reduced weighted-average contractual interest rate from
19.2
% to
9.4
%.
Mortgage
Reduced weighted-average contractual interest rate from
6.2
% to
4.5
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
20.2
% to
5
.0%.
Personal
Reduced weighted-average contractual interest rate from
18.8
% to
10
.0%.
Other
Reduced weighted-average contractual interest rate from
18
.0% to
0
.0%.
Term extension
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
8
months to the life of loans.
Commercial and industrial
Added a weighted-average of
11
months to the life of loans.
Mortgage
Added a weighted-average of
13
years to the life of loans.
Consumer:
Personal
Added a weighted-average of
10
years to the life of loans.
Auto
Added a weighted-average of
4
years to the life of loans.
Other than insignificant payment delay
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
12
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
11
months to the life of loans.
Commercial and industrial
Added a weighted-average of
11
months to the life of loans.
Mortgage
Added a weighted-average of
30
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
23
months to the life of loans.
58
The following tables present, by
class, the performance of loans
that have been modified
during the twelve months
preceding June
30,
2025.
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
June 30, 2025
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
$
-
$
-
$
556
$
556
$
4,536
$
5,092
$
448
$
108
CRE owner occupied
386
-
2,583
2,969
43,635
46,604
429
2,154
Commercial and industrial
291
92
2,325
2,708
215,888
218,596
387
1,938
Mortgage
5,765
2,431
18,854
27,050
31,215
58,265
4,876
13,978
Consumer:
Credit cards
729
539
1,153
2,421
5,851
8,272
882
271
Personal
631
300
2,365
3,296
13,243
16,539
281
2,084
Auto
-
-
-
-
135
135
-
-
Other
-
-
-
-
5
5
-
-
Total
$
7,802
$
3,362
$
27,836
$
39,000
$
314,508
$
353,508
$
7,303
$
20,533
[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.
June 30, 2025
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
$
-
$
-
$
-
$
-
$
5,791
5,791
$
-
$
-
CRE non-owner occupied
-
-
-
-
58,652
58,652
-
-
Commercial and industrial
-
-
-
-
609
609
-
-
Mortgage
-
-
-
-
1,481
1,481
-
-
Consumer:
Personal
17
-
-
17
208
225
-
-
Total
$
17
$
-
$
-
$
17
$
66,741
$
66,758
$
-
$
-
[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.
59
Popular Inc.
June 30, 2025
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
$
-
$
-
$
-
$
-
$
5,791
$
5,791
$
-
$
-
CRE non-owner occupied
-
-
556
556
63,188
63,744
448
108
CRE owner occupied
386
-
2,583
2,969
43,635
46,604
429
2,154
Commercial and industrial
291
92
2,325
2,708
216,497
219,205
387
1,938
Mortgage
5,765
2,431
18,854
27,050
32,696
59,746
4,876
13,978
Consumer:
Credit cards
729
539
1,153
2,421
5,851
8,272
882
271
Personal
648
300
2,365
3,313
13,451
16,764
281
2,084
Auto
-
-
-
-
135
135
-
-
Other
-
-
-
-
5
5
-
-
Total
$
7,819
$
3,362
$
27,836
$
39,017
$
381,249
$
420,266
$
7,303
$
20,533
[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.
60
The following tables present, by
class, the performance of loans
that have been modified
during the twelve months
preceding June
30, 2024.
BPPR
June 30, 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
$
-
$
-
$
64
$
64
$
-
$
64
$
-
$
64
CRE non-owner occupied
176
-
2,847
3,023
123,280
126,303
-
2,847
CRE owner occupied
335
-
1,976
2,311
187,369
189,680
-
1,976
Commercial and industrial
379
27
16,325
16,731
81,051
97,782
11,994
4,331
Mortgage
8,969
3,596
23,535
36,100
46,337
82,437
4,833
18,702
Consumer:
Credit cards
81
174
113
368
1,269
1,637
79
34
Personal
78
172
1,461
1,711
5,085
6,796
232
1,229
Auto
-
-
48
48
59
107
-
48
Other
-
-
25
25
4
29
-
25
Total
$
10,018
$
3,969
$
46,394
$
60,381
$
444,454
$
504,835
$
17,138
$
29,256
[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.
June 30, 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 owner occupied
$
-
$
-
$
-
$
-
$
48,948
$
48,948
$
-
$
-
Mortgage
-
-
772
772
919
1,691
-
772
Consumer:
Personal
19
24
110
153
164
317
3
107
Total
$
19
$
24
$
882
$
925
$
50,031
$
50,956
$
3
$
879
[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.
June 30, 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
$
-
$
-
$
64
$
64
$
-
$
64
$
-
$
64
CRE non-owner occupied
176
-
2,847
3,023
123,280
126,303
-
2,847
CRE owner occupied
335
-
1,976
2,311
236,317
238,628
-
1,976
Commercial and industrial
379
27
16,325
16,731
81,051
97,782
11,994
4,331
Mortgage
8,969
3,596
24,307
36,872
47,256
84,128
4,833
19,474
Consumer:
Credit cards
81
174
113
368
1,269
1,637
79
34
Personal
97
196
1,571
1,864
5,249
7,113
235
1,336
Auto
-
-
48
48
59
107
-
48
Other
-
-
25
25
4
29
-
25
Total
$
10,037
$
3,993
$
47,276
$
61,306
$
494,485
$
555,791
$
17,141
$
30,135
[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.
61
Payment
default
is
defined
as
a
restructured
loan
becoming
90
days
past
due
after
being
modified,
foreclosed
or
charged-off,
whichever
occurs
first.
The
following
tables
provide
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 prior
to default.
Amortized Cost Basis of Modified Financing Receivables That
Subsequently Defaulted During the Quarter Ended June
30, 2025
(In thousands)
Interest Rate
Reduction
Term Extension
Other-Than-
Insignificant
Payment Delays
Combination - Term
Extension and Interest
Rate Reduction
Combination - Other-
Than-Insignificant
Payment Delays and
Interest Rate
Reduction
Total
CRE non-owner occupied
$
-
$
-
$
448
$
-
$
-
$
448
CRE owner occupied
-
-
254
-
-
254
Commercial and industrial
70
-
-
-
318
388
Mortgage
-
4,478
-
1,256
-
5,734
Consumer:
Credit cards
172
-
-
-
771
943
Personal
127
105
-
139
-
371
Total
$
369
$
4,583
$
702
$
1,395
$
1,089
$
8,138
Amortized Cost Basis of Modified Financing Receivables That
Subsequently Defaulted During the Six Months Ended
June 30, 2025
(In thousands)
Interest Rate
Reduction
Term Extension
Other-Than-
Insignificant
Payment Delays
Combination - Term
Extension and Interest
Rate Reduction
Combination - Other-
Than-Insignificant
Payment Delays and
Interest Rate
Reduction
Total
CRE non-owner occupied
$
-
$
-
$
448
$
-
$
-
$
448
CRE owner occupied
-
88
429
-
-
517
Commercial and industrial
99
-
30
-
395
524
Mortgage
-
8,129
-
1,411
-
9,540
Consumer:
Credit cards
290
-
-
-
983
1,273
Personal
143
105
-
147
-
395
Total
$
532
$
8,322
$
907
$
1,558
$
1,378
$
12,697
Amortized Cost Basis of Modified Financing Receivables That
Subsequently Defaulted During the Quarter Ended June
30, 2024
62
(In thousands)
Interest Rate
Reduction
Term Extension
Other-Than-
Insignificant
Payment Delays
Combination - Term
Extension and Interest
Rate Reduction
Combination - Other-
Than-Insignificant
Payment Delays and
Interest Rate
Reduction
Total
Commercial and industrial
$
-
$
57
$
22
$
-
$
51
$
130
Mortgage
-
5,012
-
1,246
-
6,258
Consumer:
Credit cards
60
-
-
-
76
136
Personal
270
-
-
66
-
336
Total
$
330
$
5,069
$
22
$
1,312
$
127
$
6,860
Amortized Cost Basis of Modified Financing Receivables That
Subsequently Defaulted During the Six Months Ended
June 30, 2024
(In thousands)
Interest Rate
Reduction
Term Extension
Other-Than-
Insignificant
Payment Delays
Combination - Term
Extension and Interest
Rate Reduction
Combination - Other-
Than-Insignificant
Payment Delays and
Interest Rate
Reduction
Total
CRE owner occupied
$
-
$
543
$
-
$
-
$
-
$
543
Commercial and industrial
-
11,936
32
-
76
12,044
Mortgage
-
6,707
-
1,548
-
8,255
Consumer:
Credit cards
85
-
-
-
147
232
Personal
309
-
-
144
-
453
Total
$
394
$
19,186
$
32
$
1,692
$
223
$
21,527
Credit Quality
The risk
rating system
provides for
the assignment
of ratings
at the
obligor level
based on
the financial
condition of
the borrower.
The
risk rating
analysis process
is
performed at
least
once a
year
or more
frequently if
events or
conditions change
which may
deteriorate the credit quality.
In the case of
consumer and mortgage loans, these
loans are classified considering their
delinquency
status at the end of the reporting period.
The following tables present the amortized cost basis, net of unearned income, of
loans held-in-portfolio based on the Corporation’s
assignment of obligor risk ratings as defined at June 30,
2025 and December 31, 2024 and the gross write-offs recorded by
vintage
year.
For
the
definitions
of
the
obligor
risk
ratings,
refer
to
the
Credit
Quality
section
of
Note
8
to
the
Consolidated
Financial
Statements included in the 2024 Form 10-K:
63
June 30, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
BPPR
Commercial:
Commercial multi-family
Pass
$
5,807
$
49,680
$
36,848
$
134,824
$
20,776
$
49,916
$
107
$
-
$
297,958
Watch
-
-
-
532
-
974
-
-
1,506
Special Mention
-
-
-
-
-
3,052
-
-
3,052
Substandard
-
-
-
-
-
3,847
-
-
3,847
Total commercial
multi-family
$
5,807
$
49,680
$
36,848
$
135,356
$
20,776
$
57,789
$
107
$
-
$
306,363
Commercial real estate non-owner occupied
Pass
$
170,876
$
435,905
$
277,255
$
800,396
$
539,661
$
851,734
$
6,502
$
-
$
3,082,329
Watch
8,463
9,012
2,133
736
4,929
55,975
72
-
81,320
Special Mention
-
-
40,950
150
-
21,642
-
-
62,742
Substandard
-
14,255
8,650
30,652
26,150
23,886
-
-
103,593
Total commercial
real estate non-
owner occupied
$
179,339
$
459,172
$
328,988
$
831,934
$
570,740
$
953,237
$
6,574
$
-
$
3,329,984
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
86
$
-
$
-
$
86
Commercial real estate owner occupied
Pass
$
37,062
$
137,720
$
79,163
$
103,152
$
183,384
$
334,315
$
6,647
$
-
$
881,443
Watch
1,871
14,458
5,509
26,227
21,246
80,797
-
-
150,108
Special Mention
-
-
1,671
16,158
743
11,605
1,461
-
31,638
Substandard
-
361
1,581
45,868
2,600
76,599
11,823
-
138,832
Doubtful
-
-
-
-
-
85
-
-
85
Total commercial
real estate owner
occupied
$
38,933
$
152,539
$
87,924
$
191,405
$
207,973
$
503,401
$
19,931
$
-
$
1,202,106
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
103
$
-
$
-
$
103
Commercial and industrial
Pass
$
610,403
$
726,378
$
802,741
$
507,669
$
213,257
$
406,259
$
1,375,443
$
-
$
4,642,150
Watch
24,809
98,741
24,041
69,784
52,631
24,827
114,548
-
409,381
Special Mention
25
20,707
15,190
193
155,494
3,748
15,670
-
211,027
Substandard
4,506
14,137
39,212
77,310
4,268
27,254
165,473
-
332,160
Doubtful
-
-
-
-
-
6
-
-
6
Total commercial
and industrial
$
639,743
$
859,963
$
881,184
$
654,956
$
425,650
$
462,094
$
1,671,134
$
-
$
5,594,724
Year-to-Date gross
write-offs
$
505
$
134
$
209
$
370
$
21
$
207
$
4,332
$
-
$
5,778
Construction
Pass
$
12,476
$
93,063
$
71,433
$
13,614
$
2,392
$
10,344
$
28,788
$
-
$
232,110
Watch
-
-
15,355
-
82
-
-
-
15,437
Substandard
-
-
-
-
5,752
-
-
-
5,752
Total construction
$
12,476
$
93,063
$
86,788
$
13,614
$
8,226
$
10,344
$
28,788
$
-
$
253,299
Mortgage
Pass
$
500,848
$
896,365
$
701,587
$
393,941
$
390,381
$
4,147,454
$
-
$
-
$
7,030,576
Substandard
-
76
2,349
2,923
837
67,245
-
-
73,430
Total mortgage
$
500,848
$
896,441
$
703,936
$
396,864
$
391,218
$
4,214,699
$
-
$
-
$
7,104,006
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
985
$
-
$
-
$
985
64
June 30, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
BPPR
Leasing
Pass
$
401,501
$
606,339
$
415,561
$
304,802
$
174,810
$
72,079
$
-
$
-
$
1,975,092
Substandard
102
947
2,339
2,527
1,318
743
-
-
7,976
Total leasing
$
401,603
$
607,286
$
417,900
$
307,329
$
176,128
$
72,822
$
-
$
-
$
1,983,068
Year-to-Date gross
write-offs
$
96
$
2,005
$
2,801
$
2,692
$
932
$
-
$
-
$
-
$
8,526
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,190,089
$
-
$
1,190,089
Substandard
-
-
-
-
-
-
25,179
-
25,179
Loss
-
-
-
-
-
-
22
-
22
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,215,290
$
-
$
1,215,290
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
38,876
$
-
$
38,876
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,809
$
-
$
1,809
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
-
$
1,809
$
-
$
1,809
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
25
$
-
$
25
Personal
Pass
$
463,420
$
565,928
$
361,675
$
187,632
$
73,097
$
94,447
$
-
$
28,023
$
1,774,222
Substandard
23
1,776
3,660
1,823
675
7,307
-
2,295
17,559
Loss
-
128
173
59
61
8
-
-
429
Total Personal
$
463,443
$
567,832
$
365,508
$
189,514
$
73,833
$
101,762
$
-
$
30,318
$
1,792,210
Year-to-Date gross
write-offs
$
55
$
7,261
$
19,056
$
10,308
$
2,754
$
1,137
$
-
$
935
$
41,506
Auto
Pass
$
631,487
$
1,141,753
$
823,831
$
563,712
$
402,200
$
249,272
$
-
$
-
$
3,812,255
Substandard
559
10,807
13,078
10,413
7,488
7,015
-
-
49,360
Loss
-
17
57
8
-
5
-
-
87
Total Auto
$
632,046
$
1,152,577
$
836,966
$
574,133
$
409,688
$
256,292
$
-
$
-
$
3,861,702
Year-to-Date gross
write-offs
$
907
$
14,215
$
9,433
$
6,088
$
2,823
$
1,008
$
-
$
-
$
34,474
Other consumer
Pass
$
11,209
$
26,344
$
27,484
$
17,591
$
8,930
$
4,052
$
62,591
$
-
$
158,201
Substandard
-
-
221
105
-
55
264
-
645
Loss
-
-
-
1,026
550
-
-
-
1,576
Total Other
consumer
$
11,209
$
26,344
$
27,705
$
18,722
$
9,480
$
4,107
$
62,855
$
-
$
160,422
Year-to-Date gross
write-offs
$
12
$
159
$
152
$
158
$
115
$
984
$
-
$
-
$
1,580
Total BPPR
$
2,885,447
$
4,864,897
$
3,773,747
$
3,313,827
$
2,293,712
$
6,636,547
$
3,006,488
$
30,318
$
26,804,983
65
June 30, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular U.S.
Commercial:
Commercial multi-family
Pass
$
220,110
$
141,968
$
158,579
$
463,959
$
304,759
$
713,040
$
7,845
$
-
$
2,010,260
Watch
-
-
-
19,739
24,169
124,218
-
-
168,126
Special Mention
-
-
-
7,922
-
-
-
-
7,922
Substandard
-
-
-
2,742
-
25,376
-
-
28,118
Total commercial
multi-family
$
220,110
$
141,968
$
158,579
$
494,362
$
328,928
$
862,634
$
7,845
$
-
$
2,214,426
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
563
$
-
$
-
$
563
Commercial real estate non-owner occupied
Pass
$
134,448
$
184,579
$
311,357
$
474,945
$
168,109
$
650,531
$
9,897
$
-
$
1,933,866
Watch
10,300
8,875
10,900
11,365
9,221
85,023
-
-
135,684
Substandard
-
-
1,937
13,105
5,830
100,718
250
-
121,840
Total commercial
real estate non-
owner occupied
$
144,748
$
193,454
$
324,194
$
499,415
$
183,160
$
836,272
$
10,147
$
-
$
2,191,390
Commercial real estate owner occupied
Pass
$
182,187
$
256,245
$
256,523
$
265,347
$
267,836
$
283,143
$
8,454
$
-
$
1,519,735
Watch
-
13,500
25,370
7,838
859
55,575
-
-
103,142
Special Mention
-
18,056
-
38,063
-
22,984
-
-
79,103
Substandard
-
-
-
16,310
2,557
80,902
-
-
99,769
Total commercial
real estate owner
occupied
$
182,187
$
287,801
$
281,893
$
327,558
$
271,252
$
442,604
$
8,454
$
-
$
1,801,749
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
26
$
-
$
-
$
26
Commercial and industrial
Pass
$
128,135
$
324,089
$
288,628
$
319,633
$
290,456
$
714,577
$
245,021
$
-
$
2,310,539
Watch
-
-
5,203
38,038
24,093
38,311
5,940
-
111,585
Special Mention
-
-
3,909
4,822
427
215
1,906
-
11,279
Substandard
-
2,623
274
-
196
1,509
11,023
-
15,625
Total commercial
and industrial
$
128,135
$
326,712
$
298,014
$
362,493
$
315,172
$
754,612
$
263,890
$
-
$
2,449,028
Year-to-Date gross
write-offs
$
-
$
552
$
-
$
-
$
599
$
7
$
38
$
-
$
1,196
Construction
Pass
$
153,767
$
373,195
$
503,352
$
62,476
$
-
$
6,030
$
11,641
$
-
$
1,110,461
Watch
324
3,945
4,615
67,330
-
7,057
-
-
83,271
Special Mention
-
-
12,568
-
-
-
-
-
12,568
Substandard
-
-
-
8,602
-
-
-
-
8,602
Total construction
$
154,091
$
377,140
$
520,535
$
138,408
$
-
$
13,087
$
11,641
$
-
$
1,214,902
Mortgage
Pass
$
82,666
$
89,746
$
86,297
$
209,953
$
267,057
$
576,649
$
-
$
-
$
1,312,368
Substandard
-
-
644
-
-
27,409
-
-
28,053
Total mortgage
$
82,666
$
89,746
$
86,941
$
209,953
$
267,057
$
604,058
$
-
$
-
$
1,340,421
66
June 30, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular U.S.
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
3
$
-
$
3
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
3
$
-
$
3
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
5,408
$
56,341
$
10,802
$
72,551
Substandard
-
-
-
-
-
1,478
13
558
2,049
Loss
-
-
-
-
-
164
-
906
1,070
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
7,050
$
56,354
$
12,266
$
75,670
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
46
$
-
$
46
Personal
Pass
$
11,637
$
22,435
$
16,958
$
25,006
$
5,594
$
1,530
$
-
$
-
$
83,160
Substandard
-
231
228
251
49
279
-
-
1,038
Loss
-
-
7
-
-
48
-
-
55
Total Personal
$
11,637
$
22,666
$
17,193
$
25,257
$
5,643
$
1,857
$
-
$
-
$
84,253
Year-to-Date gross
write-offs
$
-
$
1,158
$
1,379
$
2,535
$
437
$
37
$
-
$
-
$
5,546
Other consumer
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
8,353
$
-
$
8,353
Total Other
consumer
$
-
$
-
$
-
$
-
$
-
$
-
$
8,353
$
-
$
8,353
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
42
$
-
$
42
Total Popular U.S.
$
923,574
$
1,439,487
$
1,687,349
$
2,057,446
$
1,371,212
$
3,522,174
$
366,687
$
12,266
$
11,380,195
67
June 30, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular, Inc.
Commercial:
Commercial multi-family
Pass
$
225,917
$
191,648
$
195,427
$
598,783
$
325,535
$
762,956
$
7,952
$
-
$
2,308,218
Watch
-
-
-
20,271
24,169
125,192
-
-
169,632
Special Mention
-
-
-
7,922
-
3,052
-
-
10,974
Substandard
-
-
-
2,742
-
29,223
-
-
31,965
Total commercial
multi-family
$
225,917
$
191,648
$
195,427
$
629,718
$
349,704
$
920,423
$
7,952
$
-
$
2,520,789
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
563
$
-
$
-
$
563
Commercial real estate non-owner occupied
Pass
$
305,324
$
620,484
$
588,612
$
1,275,341
$
707,770
$
1,502,265
$
16,399
$
-
$
5,016,195
Watch
18,763
17,887
13,033
12,101
14,150
140,998
72
-
217,004
Special Mention
-
-
40,950
150
-
21,642
-
-
62,742
Substandard
-
14,255
10,587
43,757
31,980
124,604
250
-
225,433
Total commercial
real estate non-
owner occupied
$
324,087
$
652,626
$
653,182
$
1,331,349
$
753,900
$
1,789,509
$
16,721
$
-
$
5,521,374
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
86
$
-
$
-
$
86
Commercial real estate owner occupied
Pass
$
219,249
$
393,965
$
335,686
$
368,499
$
451,220
$
617,458
$
15,101
$
-
$
2,401,178
Watch
1,871
27,958
30,879
34,065
22,105
136,372
-
-
253,250
Special Mention
-
18,056
1,671
54,221
743
34,589
1,461
-
110,741
Substandard
-
361
1,581
62,178
5,157
157,501
11,823
-
238,601
Doubtful
-
-
-
-
-
85
-
-
85
Total commercial
real estate owner
occupied
$
221,120
$
440,340
$
369,817
$
518,963
$
479,225
$
946,005
$
28,385
$
-
$
3,003,855
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
129
$
-
$
-
$
129
Commercial and industrial
Pass
$
738,538
$
1,050,467
$
1,091,369
$
827,302
$
503,713
$
1,120,836
$
1,620,464
$
-
$
6,952,689
Watch
24,809
98,741
29,244
107,822
76,724
63,138
120,488
-
520,966
Special Mention
25
20,707
19,099
5,015
155,921
3,963
17,576
-
222,306
Substandard
4,506
16,760
39,486
77,310
4,464
28,763
176,496
-
347,785
Doubtful
-
-
-
-
-
6
-
-
6
Total commercial
and industrial
$
767,878
$
1,186,675
$
1,179,198
$
1,017,449
$
740,822
$
1,216,706
$
1,935,024
$
-
$
8,043,752
Year-to-Date gross
write-offs
$
505
$
686
$
209
$
370
$
620
$
214
$
4,370
$
-
$
6,974
68
June 30, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular, Inc.
Construction
Pass
$
166,243
$
466,258
$
574,785
$
76,090
$
2,392
$
16,374
$
40,429
$
-
$
1,342,571
Watch
324
3,945
19,970
67,330
82
7,057
-
-
98,708
Special Mention
-
-
12,568
-
-
-
-
-
12,568
Substandard
-
-
-
8,602
5,752
-
-
-
14,354
Total construction
$
166,567
$
470,203
$
607,323
$
152,022
$
8,226
$
23,431
$
40,429
$
-
$
1,468,201
Mortgage
Pass
$
583,514
$
986,111
$
787,884
$
603,894
$
657,438
$
4,724,103
$
-
$
-
$
8,342,944
Substandard
-
76
2,993
2,923
837
94,654
-
-
101,483
Total mortgage
$
583,514
$
986,187
$
790,877
$
606,817
$
658,275
$
4,818,757
$
-
$
-
$
8,444,427
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
985
$
-
$
-
$
985
Leasing
Pass
$
401,501
$
606,339
$
415,561
$
304,802
$
174,810
$
72,079
$
-
$
-
$
1,975,092
Substandard
102
947
2,339
2,527
1,318
743
-
-
7,976
Total leasing
$
401,603
$
607,286
$
417,900
$
307,329
$
176,128
$
72,822
$
-
$
-
$
1,983,068
Year-to-Date gross
write-offs
$
96
$
2,005
$
2,801
$
2,692
$
932
$
-
$
-
$
-
$
8,526
69
June 30, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular, Inc.
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,190,092
$
-
$
1,190,092
Substandard
-
-
-
-
-
-
25,179
-
25,179
Loss
-
-
-
-
-
-
22
-
22
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,215,293
$
-
$
1,215,293
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
38,876
$
-
$
38,876
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
5,408
$
58,150
$
10,802
$
74,360
Substandard
-
-
-
-
-
1,478
13
558
2,049
Loss
-
-
-
-
-
164
-
906
1,070
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
7,050
$
58,163
$
12,266
$
77,479
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
71
$
-
$
71
Personal
Pass
$
475,057
$
588,363
$
378,633
$
212,638
$
78,691
$
95,977
$
-
$
28,023
$
1,857,382
Substandard
23
2,007
3,888
2,074
724
7,586
-
2,295
18,597
Loss
-
128
180
59
61
56
-
-
484
Total Personal
$
475,080
$
590,498
$
382,701
$
214,771
$
79,476
$
103,619
$
-
$
30,318
$
1,876,463
Year-to-Date gross
write-offs
$
55
$
8,419
$
20,435
$
12,843
$
3,191
$
1,174
$
-
$
935
$
47,052
Auto
Pass
$
631,487
$
1,141,753
$
823,831
$
563,712
$
402,200
$
249,272
$
-
$
-
$
3,812,255
Substandard
559
10,807
13,078
10,413
7,488
7,015
-
-
49,360
Loss
-
17
57
8
-
5
-
-
87
Total Auto
$
632,046
$
1,152,577
$
836,966
$
574,133
$
409,688
$
256,292
$
-
$
-
$
3,861,702
Year-to-Date gross
write-offs
$
907
$
14,215
$
9,433
$
6,088
$
2,823
$
1,008
$
-
$
-
$
34,474
Other consumer
Pass
$
11,209
$
26,344
$
27,484
$
17,591
$
8,930
$
4,052
$
70,944
$
-
$
166,554
Substandard
-
-
221
105
-
55
264
-
645
Loss
-
-
-
1,026
550
-
-
-
1,576
Total Other
consumer
$
11,209
$
26,344
$
27,705
$
18,722
$
9,480
$
4,107
$
71,208
$
-
$
168,775
Year-to-Date gross
write-offs
$
12
$
159
$
152
$
158
$
115
$
984
$
42
$
-
$
1,622
Total Popular Inc.
$
3,809,021
$
6,304,384
$
5,461,096
$
5,371,273
$
3,664,924
$
10,158,721
$
3,373,175
$
42,584
$
38,185,178
70
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
71
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
72
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
73
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 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