FULLTEXT DEL 4 AV 6
10-Q – 2025-11-10 – d873220d10q.htm
At September 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
$
2,107,187
$
2,071,286
$
-
$
2,071,286
$
2,554
$
762
$
2,073,078
1.50
%
After 1 to 5 years
5,607,069
5,302,786
-
5,302,786
29,216
-
5,332,002
1.24
Total U.S. Treasury
securities
7,714,256
7,374,072
-
7,374,072
31,770
762
7,405,080
1.31
Obligations of Puerto Rico, States and
political subdivisions
Within 1 year
2,605
2,605
9
2,596
7
-
2,603
6.43
After 1 to 5 years
12,530
12,530
44
12,486
28
80
12,434
3.48
After 5 to 10 years
450
450
15
435
15
-
450
5.81
After 10 years
36,012
36,012
5,769
30,243
3,205
1,802
31,646
1.42
Total obligations of
Puerto Rico, States and
political subdivisions
51,597
51,597
5,837
45,760
3,255
1,882
47,133
2.21
Collateralized mortgage obligations - federal
agencies
After 10 years
1,506
1,506
-
1,506
-
191
1,315
2.87
Total collateralized
mortgage obligations -
federal agencies
1,506
1,506
-
1,506
-
191
1,315
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]
$
7,773,319
$
7,433,135
$
5,837
$
7,427,298
$
35,025
$
2,835
$
7,459,488
1.32
%
[1]
Book value includes $
340
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 $
7.3
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 $
89.7
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
September 30,
2025 and
December 31,
2024, the
“Obligations of
Puerto Rico,
States and
political subdivisions”
classified as
held-to-maturity,
included 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
$
8.7
million of
general and
special obligation
bonds issued
by three
municipalities of
Puerto
Rico,
of
which
$
7.9
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 September
30, 2025,
the portfolio
of “Obligations
of Puerto
Rico, States
and political
subdivisions” also
included $
36
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
26
securities
are
not
rated
by
a
credit
rating
agency.
Refer
to
Note
18
to
the
Consolidated
Financial
Statements
for
additional
information on the Corporation’s exposure to the Puerto
Rico Government
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 September 30,
2025, the
average refreshed FICO
score for
the sample,
comprised
of
76
%
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.
At September 30,
2025 and December 31,
2024, the portfolio of
“Obligations of Puerto Rico,
States and political subdivisions”
also
included $
6.9
million in
securities issued
by the
HFA for
which the
underlying source
of payment
is U.S.
Treasury securities.
The
Corporation applies a zero-credit
loss assumption for these
securities, and no ACL
has been established for
these securities given
that 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.
Delinquency status
At September 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
September 30, 2025 was $
5.8
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
(including
repurchases)
for
the
quarters
and
nine
months
ended
September 30, 2025 and 2024 by class of loans:
Quarters ended September 30,
Nine months ended September 30,
(In thousands)
2025
2024
2025
2024
Commercial
$
40,797
$
32,484
$
115,683
$
247,906
Mortgage
122,452
97,586
369,049
268,239
Ending balance
$
163,249
$
130,070
$
484,732
$
516,145
The following
table presents
the Corporation’s
whole-loan sales for
the quarters
and nine months
ended September 30,
2025 and
2024 by class of loans:
Quarters ended September 30,
Nine months ended September 30,
(In thousands)
2025
2024
2025
2024
Commercial
$
19,998
$
-
$
47,347
$
-
Construction
-
-
9,338
11,656
Mortgage
11,393
9,126
26,780
32,882
Ending balance
$
31,391
$
9,126
$
83,465
$
44,538
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
September 30, 2025 and December 31, 2024.
28
September 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
$
1,357
$
1
$
174
$
1,532
$
300,834
$
302,366
$
174
$
-
Commercial real estate:
Non-owner occupied
17,422
292
37,043
54,757
3,247,988
3,302,745
37,043
-
Owner occupied
2,004
152
25,619
27,775
1,167,509
1,195,284
25,619
-
Commercial and industrial
4,237
2,032
178,224
184,493
5,567,505
5,751,998
173,245
4,979
Construction
2,898
1,691
-
4,589
299,364
303,953
-
-
Mortgage
252,650
118,092
314,103
684,845
6,548,261
7,233,106
139,958
174,145
Leasing
23,537
5,372
7,747
36,656
1,961,995
1,998,651
7,747
-
Consumer:
Credit cards
13,556
9,917
25,625
49,098
1,176,469
1,225,567
-
25,625
Home equity lines of credit
-
-
-
-
1,693
1,693
-
-
Personal
19,826
11,353
18,375
49,554
1,773,594
1,823,148
18,375
-
Auto
107,907
21,874
49,432
179,213
3,671,740
3,850,953
49,432
-
Other
2,907
245
2,195
5,347
166,980
172,327
1,776
419
Total
$
448,301
$
171,021
$
658,537
$
1,277,859
$
25,883,932
$
27,161,791
$
453,369
$
205,168
September 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
$
-
$
2,638
$
8,467
$
11,105
$
2,176,118
$
2,187,223
$
8,467
$
-
Commercial real estate:
Non-owner occupied
84
-
7,083
7,167
2,152,668
2,159,835
7,083
-
Owner occupied
15,171
217
-
15,388
1,880,052
1,895,440
-
-
Commercial and industrial
14,949
-
1,434
16,383
2,477,258
2,493,641
1,246
188
Construction
-
-
-
-
1,300,659
1,300,659
-
-
Mortgage
1,298
4,988
27,809
34,095
1,291,207
1,325,302
27,809
-
Consumer:
Home equity lines of
credit
395
335
3,257
3,987
73,210
77,197
3,257
-
Personal
1,006
990
941
2,937
74,240
77,177
941
-
Other
-
-
30
30
8,863
8,893
30
-
Total
$
32,903
$
9,168
$
49,021
$
91,092
$
11,434,275
$
11,525,367
$
48,833
$
188
29
September 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
$
1,357
$
2,639
$
8,641
$
12,637
$
2,476,952
$
2,489,589
$
8,641
$
-
Commercial real estate:
Non-owner occupied
17,506
292
44,126
61,924
5,400,656
5,462,580
44,126
-
Owner occupied
17,175
369
25,619
43,163
3,047,561
3,090,724
25,619
-
Commercial and industrial
19,186
2,032
179,658
200,876
8,044,763
8,245,639
174,491
5,167
Construction
2,898
1,691
-
4,589
1,600,023
1,604,612
-
-
Mortgage
[1]
253,948
123,080
341,912
718,940
7,839,468
8,558,408
167,767
174,145
Leasing
23,537
5,372
7,747
36,656
1,961,995
1,998,651
7,747
-
Consumer:
Credit cards
13,556
9,917
25,625
49,098
1,176,469
1,225,567
-
25,625
Home equity lines of credit
395
335
3,257
3,987
74,903
78,890
3,257
-
Personal
20,832
12,343
19,316
52,491
1,847,834
1,900,325
19,316
-
Auto
107,907
21,874
49,432
179,213
3,671,740
3,850,953
49,432
-
Other
2,907
245
2,225
5,377
175,843
181,220
1,806
419
Total
$
481,204
$
180,189
$
707,558
$
1,368,951
$
37,318,207
$
38,687,158
$
502,202
$
205,356
[1]
At September 30, 2025, mortgage loans held-in-portfolio
include $
3
.0 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 $
174
million are 90 days or more past due. The portfolio
of
guaranteed loans includes $
49
million of residential mortgage loans in Puerto Rico that
are no longer accruing interest as of September 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 September 30, 2025.
[2]
Loans held-in-portfolio are net of $
425
million in unearned income and exclude $
8
million in loans held-for-sale.
[3]
Includes $
21.9
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 $
14.4
billion at the Federal Reserve
Bank ("FRB") for discount window borrowings. As of September
30, 2025, the Corporation had an available borrowing
facility with the FHLB and
the discount window of FRB of $
4.2
billion and $
11.2
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.
The following tables present the amortized cost basis
of non-accrual loans as of September 30, 2025
and December 31, 2024 by
class of loans:
32
September 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
$
8,137
$
330
$
8,137
$
504
Commercial real estate non-owner occupied
34,986
2,057
6,994
89
41,980
2,146
Commercial real estate owner occupied
16,618
9,001
-
-
16,618
9,001
Commercial and industrial
6,504
166,741
-
1,246
6,504
167,987
Mortgage
62,445
77,513
1,117
26,692
63,562
104,205
Leasing
602
7,145
-
-
602
7,145
Consumer:
HELOCs
-
-
-
3,257
-
3,257
Personal
3,264
15,111
-
941
3,264
16,052
Auto
2,263
47,169
-
-
2,263
47,169
Other
363
1,413
-
30
363
1,443
Total
$
127,045
$
326,324
$
16,248
$
32,585
$
143,293
$
358,909
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 September 30, 2025 include $
143
million in collateral dependent loans (December
31,
2024 -
$
124
million). The
Corporation recognized
$
3
million in
interest income
on non-accrual
loans during
the
nine months
ended September 30, 2025 (September 30, 2024
- $
3
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 September
30, 2025
and December
31,
2024:
33
September 30, 2025
(In thousands)
Real Estate
Auto
Equipment
Accounts
Receivables
Other
Total
BPPR
Commercial multi-family
$
1,221
$
-
$
-
$
-
$
-
$
1,221
Commercial real estate:
Non-owner occupied
128,209
-
-
-
-
128,209
Owner occupied
23,060
-
-
-
-
23,060
Commercial and industrial
2,409
-
4,404
1,383
2,781
10,977
Mortgage
70,547
-
-
-
-
70,547
Leasing
-
1,597
-
-
-
1,597
Consumer:
Personal
3,724
-
-
-
-
3,724
Auto
-
16,694
-
-
-
16,694
Other
-
8
-
-
363
371
Total BPPR
$
229,170
$
18,299
$
4,404
$
1,383
$
3,144
$
256,400
Popular U.S.
Commercial multi-family
$
13,915
$
-
$
-
$
-
$
-
$
13,915
Commercial real estate:
Non-owner occupied
65,645
-
-
-
-
65,645
Mortgage
1,651
-
-
-
-
1,651
Total Popular U.S.
$
81,211
$
-
$
-
$
-
$
-
$
81,211
Popular, Inc.
Commercial multi-family
$
15,136
$
-
$
-
$
-
$
-
$
15,136
Commercial real estate:
Non-owner occupied
193,854
-
-
-
-
193,854
Owner occupied
23,060
-
-
-
-
23,060
Commercial and industrial
2,409
-
4,404
1,383
2,781
10,977
Mortgage
72,198
-
-
-
-
72,198
Leasing
-
1,597
-
-
-
1,597
Consumer:
Personal
3,724
-
-
-
-
3,724
Auto
-
16,694
-
-
-
16,694
Other
-
8
-
-
363
371
Total Popular,
Inc.
$
310,381
$
18,299
$
4,404
$
1,383
$
3,144
$
337,611
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
September
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 first quarter. The net impact of these two changes in the assigned weights on the ACL
levels
for
the
nine
months
ended
September
30,
2025
was
$
13.7
million
in
additional
reserves.
There
were
no
changes
to
the
probability weights
during the
third quarter
of
2025. 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 nine
months ended September 30, 2025 and 2024.
36
For the quarter ended September 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
$
3,696
$
( 177 )
$
-
$
-
$
2
$
3,521
Commercial real estate non-owner occupied
43,139
10,931
-
( 13,490 )
876
41,456
Commercial real estate owner occupied
35,848
( 2,211 )
-
-
947
34,584
Commercial and industrial
123,202
30,220
-
( 2,801 )
1,334
151,955
Total Commercial
205,885
38,763
-
( 16,291 )
3,159
231,516
Construction
3,075
370
-
-
-
3,445
Mortgage
74,966
337
6
( 585 )
2,801
77,525
Leasing
20,040
1,234
-
( 4,017 )
1,963
19,220
Consumer
Credit cards
92,306
10,212
-
( 18,139 )
2,829
87,208
Home equity lines of credit
54
( 95 )
-
-
89
48
Personal
92,891
13,195
-
( 19,218 )
3,533
90,401
Auto
182,274
7,581
-
( 19,175 )
7,139
177,819
Other
7,758
1,042
-
( 759 )
132
8,173
Total Consumer
375,283
31,935
-
( 57,291 )
13,722
363,649
Total - Loans
$
679,249
$
72,639
$
6
$
( 78,184 )
$
21,645
$
695,355
Allowance for credit losses - unfunded commitments:
Commercial
$
5,876
$
943
$
-
$
-
$
-
$
6,819
Construction
1,869
( 127 )
-
-
-
1,742
Ending balance - unfunded commitments [1]
$
7,745
$
816
$
-
$
-
$
-
$
8,561
[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 September 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
$
13,085
$
( 84 )
$
-
$
60
$
13,061
Commercial real estate non-owner occupied
15,978
1,411
-
-
17,389
Commercial real estate owner occupied
13,203
1,388
-
16
14,607
Commercial and industrial
18,160
( 148 )
( 722 )
62
17,352
Total Commercial
60,426
2,567
( 722 )
138
62,409
Construction
7,504
155
-
-
7,659
Mortgage
10,209
( 789 )
-
36
9,456
Consumer
Home equity lines of credit
1,330
( 253 )
-
423
1,500
Personal
10,763
183
( 1,629 )
520
9,837
Other
4
15
( 25 )
10
4
Total Consumer
12,097
( 55 )
( 1,654 )
953
11,341
Total - Loans
$
90,236
$
1,878
$
( 2,376 )
$
1,127
$
90,865
Allowance for credit losses - unfunded commitments:
Commercial
$
1,935
$
( 7 )
$
-
$
-
$
1,928
Construction
3,289
( 100 )
-
-
3,189
Consumer
84
61
-
-
145
Ending balance - unfunded commitments [1]
$
5,308
$
( 46 )
$
-
$
-
$
5,262
[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 September 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
$
16,781
$
( 261 )
$
-
$
-
$
62
$
16,582
Commercial real estate non-owner occupied
59,117
12,342
-
( 13,490 )
876
58,845
Commercial real estate owner occupied
49,051
( 823 )
-
-
963
49,191
Commercial and industrial
141,362
30,072
-
( 3,523 )
1,396
169,307
Total Commercial
266,311
41,330
-
( 17,013 )
3,297
293,925
Construction
10,579
525
-
-
-
11,104
Mortgage
85,175
( 452 )
6
( 585 )
2,837
86,981
Leasing
20,040
1,234
-
( 4,017 )
1,963
19,220
Consumer
Credit cards
92,306
10,212
-
( 18,139 )
2,829
87,208
Home equity lines of credit
1,384
( 348 )
-
-
512
1,548
Personal
103,654
13,378
-
( 20,847 )
4,053
100,238
Auto
182,274
7,581
-
( 19,175 )
7,139
177,819
Other
7,762
1,057
-
( 784 )
142
8,177
Total Consumer
387,380
31,880
-
( 58,945 )
14,675
374,990
Total - Loans
$
769,485
$
74,517
$
6
$
( 80,560 )
$
22,772
$
786,220
Allowance for credit losses - unfunded commitments:
Commercial
$
7,811
$
936
$
-
$
-
$
-
$
8,747
Construction
5,158
( 227 )
-
-
-
4,931
Consumer
84
61
-
-
-
145
Ending balance - unfunded commitments [1]
$
13,053
$
770
$
-
$
-
$
-
$
13,823
[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 nine months ended September 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
$
728
$
-
$
-
$
10
$
3,521
Commercial real estate non-owner occupied
44,852
8,172
-
( 13,576 )
2,008
41,456
Commercial real estate owner occupied
37,355
( 5,129 )
-
( 103 )
2,461
34,584
Commercial and industrial
130,136
23,194
-
( 8,579 )
7,204
151,955
Total Commercial
215,126
26,965
-
( 22,258 )
11,683
231,516
Construction
2,743
702
-
-
-
3,445
Mortgage
72,901
( 2,533 )
15
( 1,570 )
8,712
77,525
Leasing
16,419
10,863
-
( 12,543 )
4,481
19,220
Consumer
Credit cards
99,130
37,128
-
( 57,015 )
7,965
87,208
Home equity lines of credit
54
( 516 )
-
( 25 )
535
48
Personal
91,296
48,904
-
( 60,724 )
10,925
90,401
Auto
165,995
43,904
-
( 53,649 )
21,569
177,819
Other
7,002
3,062
-
( 2,339 )
448
8,173
Total Consumer
363,477
132,482
-
( 173,752 )
41,442
363,649
Total - Loans
$
670,666
$
168,479
$
15
$
( 210,123 )
$
66,318
$
695,355
Allowance for credit losses - unfunded commitments:
Commercial
$
6,725
$
94
$
-
$
-
$
-
$
6,819
Construction
1,663
79
-
-
-
1,742
Ending balance - unfunded commitments [1]
$
8,388
$
173
$
-
$
-
$
-
$
8,561
[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 nine months ended September 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
$
7,110
$
( 563 )
$
61
$
13,061
Commercial real estate non-owner occupied
9,642
7,747
-
-
17,389
Commercial real estate owner occupied
12,473
1,581
( 26 )
579
14,607
Commercial and industrial
15,870
2,862
( 1,918 )
538
17,352
Total Commercial
44,438
19,300
( 2,507 )
1,178
62,409
Construction
8,521
( 862 )
-
-
7,659
Mortgage
9,508
( 305 )
-
253
9,456
Consumer
Home equity lines of credit
1,449
( 1,188 )
( 46 )
1,285
1,500
Personal
11,440
3,800
( 7,175 )
1,772
9,837
Other
2
50
( 67 )
19
4
Total Consumer
12,891
2,662
( 7,288 )
3,076
11,341
Total - Loans
$
75,358
$
20,795
$
( 9,795 )
$
4,507
$
90,865
Allowance for credit losses - unfunded commitments:
Commercial
$
1,662
$
266
$
-
$
-
$
1,928
Construction
5,409
( 2,220 )
-
-
3,189
Consumer
11
134
-
-
145
Ending balance - unfunded commitments [1]
$
7,082
$
( 1,820 )
$
-
$
-
$
5,262
[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 nine months ended September 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
$
7,838
$
-
$
( 563 )
$
71
$
16,582
Commercial real estate non-owner occupied
54,494
15,919
-
( 13,576 )
2,008
58,845
Commercial real estate owner occupied
49,828
( 3,548 )
-
( 129 )
3,040
49,191
Commercial and industrial
146,006
26,056
-
( 10,497 )
7,742
169,307
Total Commercial
259,564
46,265
-
( 24,765 )
12,861
293,925
Construction
11,264
( 160 )
-
-
-
11,104
Mortgage
82,409
( 2,838 )
15
( 1,570 )
8,965
86,981
Leasing
16,419
10,863
-
( 12,543 )
4,481
19,220
Consumer
Credit cards
99,130
37,128
-
( 57,015 )
7,965
87,208
Home equity lines of credit
1,503
( 1,704 )
-
( 71 )
1,820
1,548
Personal
102,736
52,704
-
( 67,899 )
12,697
100,238
Auto
165,995
43,904
-
( 53,649 )
21,569
177,819
Other
7,004
3,112
-
( 2,406 )
467
8,177
Total Consumer
376,368
135,144
-
( 181,040 )
44,518
374,990
Total - Loans
$
746,024
$
189,274
$
15
$
( 219,918 )
$
70,825
$
786,220
Allowance for credit losses - unfunded commitments:
Commercial
$
8,387
$
360
$
-
$
-
$
-
$
8,747
Construction
7,072
( 2,141 )
-
-
-
4,931
Consumer
11
134
-
-
-
145
Ending balance - unfunded commitments [1]
$
15,470
$
( 1,647 )
$
-
$
-
$
-
$
13,823
[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 September 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
$
3,303
$
( 417 )
$
-
$
-
$
-
$
2,886
Commercial real estate non-owner occupied
53,386
3,344
-
( 69 )
59
56,720
Commercial real estate owner occupied
39,375
( 2,418 )
-
( 2 )
1,556
38,511
Commercial and industrial
111,263
16,597
-
( 6,190 )
1,461
123,131
Total Commercial
207,327
17,106
-
( 6,261 )
3,076
221,248
Construction
3,638
( 970 )
-
-
1,036
3,704
Mortgage
73,900
( 5,221 )
3
( 208 )
4,102
72,576
Leasing
14,385
3,725
-
( 3,630 )
1,374
15,854
Consumer
Credit cards
86,313
21,238
-
( 17,503 )
2,646
92,694
Home equity lines of credit
83
( 90 )
-
( 82 )
158
69
Personal
94,021
20,232
-
( 24,712 )
2,526
92,067
Auto
157,449
20,765
-
( 23,011 )
6,110
161,313
Other
6,489
362
-
( 728 )
526
6,649
Total Consumer
344,355
62,507
-
( 66,036 )
11,966
352,792
Total - Loans
$
643,605
$
77,147
$
3
$
( 76,135 )
$
21,554
$
666,174
Allowance for credit losses - unfunded commitments:
Commercial
$
5,540
$
816
$
-
$
-
$
-
$
6,356
Construction
2,095
373
-
-
-
2,468
Ending balance - unfunded commitments [1]
$
7,635
$
1,189
$
-
$
-
$
-
$
8,824
[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 September 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
$
7,877
$
( 1,126 )
$
-
$
5
$
6,756
Commercial real estate non-owner occupied
10,849
53
( 54 )
62
10,910
Commercial real estate owner occupied
18,815
( 4,430 )
-
19
14,404
Commercial and industrial
15,219
( 1,617 )
( 613 )
241
13,230
Total Commercial
52,760
( 7,120 )
( 667 )
327
45,300
Construction
9,251
259
-
-
9,510
Mortgage
9,389
( 361 )
-
46
9,074
Consumer
Home equity lines of credit
1,643
22
( 4 )
124
1,785
Personal
13,427
2,799
( 4,442 )
691
12,475
Other
2
23
( 28 )
5
2
Total Consumer
15,072
2,844
( 4,474 )
820
14,262
Total - Loans
$
86,472
$
( 4,378 )
$
( 5,141 )
$
1,193
$
78,146
Allowance for credit losses - unfunded commitments:
Commercial
$
2,850
$
( 1,080 )
$
-
$
-
$
1,770
Construction
8,399
( 609 )
-
-
7,790
Ending balance - unfunded commitments [1]
$
11,249
$
( 1,689 )
$
-
$
-
$
9,560
[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 September 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
$
11,180
$
( 1,543 )
$
-
$
-
$
5
$
9,642
Commercial real estate non-owner occupied
64,235
3,397
-
( 123 )
121
67,630
Commercial real estate owner occupied
58,190
( 6,848 )
-
( 2 )
1,575
52,915
Commercial and industrial
126,482
14,980
-
( 6,803 )
1,702
136,361
Total Commercial
260,087
9,986
-
( 6,928 )
3,403
266,548
Construction
12,889
( 711 )
-
-
1,036
13,214
Mortgage
83,289
( 5,582 )
3
( 208 )
4,148
81,650
Leasing
14,385
3,725
-
( 3,630 )
1,374
15,854
Consumer
Credit cards
86,313
21,238
-
( 17,503 )
2,646
92,694
Home equity lines of credit
1,726
( 68 )
-
( 86 )
282
1,854
Personal
107,448
23,031
-
( 29,154 )
3,217
104,542
Auto
157,449
20,765
-
( 23,011 )
6,110
161,313
Other
6,491
385
-
( 756 )
531
6,651
Total Consumer
359,427
65,351
-
( 70,510 )
12,786
367,054
Total - Loans
$
730,077
$
72,769
$
3
$
( 81,276 )
$
22,747
$
744,320
Allowance for credit losses - unfunded commitments:
Commercial
$
8,390
$
( 264 )
$
-
$
-
$
-
$
8,126
Construction
10,494
( 236 )
-
-
-
10,258
Ending balance - unfunded commitments [1]
$
18,884
$
( 500 )
$
-
$
-
$
-
$
18,384
[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 nine months ended September 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
$
( 729 )
$
-
$
-
$
1
$
2,886
Commercial real estate non-owner occupied
53,754
2,607
-
( 69 )
428
56,720
Commercial real estate owner occupied
40,637
( 2,567 )
-
( 2,787 )
3,228
38,511
Commercial and industrial
107,577
31,413
-
( 20,931 )
5,072
123,131
Total Commercial
205,582
30,724
-
( 23,787 )
8,729
221,248
Construction
5,294
( 2,626 )
-
-
1,036
3,704
Mortgage
72,440
( 11,959 )
26
( 999 )
13,068
72,576
Leasing
9,708
14,787
-
( 12,321 )
3,680
15,854
Consumer
Credit cards
80,487
54,734
-
( 50,318 )
7,791
92,694
Home equity lines of credit
103
35
-
( 373 )
304
69
Personal
101,181
55,987
-
( 72,354 )
7,253
92,067
Auto
157,931
44,386
-
( 59,787 )
18,783
161,313
Other
7,132
672
-
( 2,072 )
917
6,649
Total Consumer
346,834
155,814
-
( 184,904 )
35,048
352,792
Total - Loans
$
639,858
$
186,740
$
26
$
( 222,011 )
$
61,561
$
666,174
Allowance for credit losses - unfunded commitments:
Commercial
$
5,062
$
1,294
$
-
$
-
$
-
$
6,356
Construction
1,618
850
-
-
-
2,468
Ending balance - unfunded commitments [1]
$
6,680
$
2,144
$
-
$
-
$
-
$
8,824
[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 nine months ended September 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
$
( 2,939 )
$
( 441 )
$
10
$
6,756
Commercial real estate non-owner occupied
11,699
( 903 )
( 54 )
168
10,910
Commercial real estate owner occupied
16,227
( 1,925 )
-
102
14,404
Commercial and industrial
14,779
219
( 2,372 )
604
13,230
Total Commercial
52,831
( 5,548 )
( 2,867 )
884
45,300
Construction
7,392
2,018
-
100
9,510
Mortgage
10,774
( 1,788 )
( 18 )
106
9,074
Consumer
Home equity lines of credit
1,875
( 741 )
( 25 )
676
1,785
Personal
16,609
8,585
( 14,750 )
2,031
12,475
Other
2
46
( 77 )
31
2
Total Consumer
18,486
7,890
( 14,852 )
2,738
14,262
Total - Loans
$
89,483
$
2,572
$
( 17,737 )
$
3,828
$
78,146
Allowance for credit losses - unfunded commitments:
Commercial
$
1,851
$
( 81 )
$
-
$
-
$
1,770
Construction
8,446
( 656 )
-
-
7,790
Consumer
29
( 29 )
-
-
-
Ending balance - unfunded commitments [1]
$
10,326
$
( 766 )
$
-
$
-
$
9,560
[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 nine months ended September 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
$
( 3,668 )
$
-
$
( 441 )
$
11
$
9,642
Commercial real estate non-owner occupied
65,453
1,704
-
( 123 )
596
67,630
Commercial real estate owner occupied
56,864
( 4,492 )
-
( 2,787 )
3,330
52,915
Commercial and industrial
122,356
31,632
-
( 23,303 )
5,676
136,361
Total Commercial
258,413
25,176
-
( 26,654 )
9,613
266,548
Construction
12,686
( 608 )
-
-
1,136
13,214
Mortgage
83,214
( 13,747 )
26
( 1,017 )
13,174
81,650
Leasing
9,708
14,787
-
( 12,321 )
3,680
15,854
Consumer
Credit cards
80,487
54,734
-
( 50,318 )
7,791
92,694
Home equity lines of credit
1,978
( 706 )
-
( 398 )
980
1,854
Personal
117,790
64,572
-
( 87,104 )
9,284
104,542
Auto
157,931
44,386
-
( 59,787 )
18,783
161,313
Other
7,134
718
-
( 2,149 )
948
6,651
Total Consumer
365,320
163,704
-
( 199,756 )
37,786
367,054
Total - Loans
$
729,341
$
189,312
$
26
$
( 239,748 )
$
65,389
$
744,320
Allowance for credit losses - unfunded commitments:
Commercial
$
6,913
$
1,213
$
-
$
-
$
-
$
8,126
Construction
10,064
194
-
-
-
10,258
Consumer
29
( 29 )
-
-
-
-
Ending balance - unfunded commitments [1]
$
17,006
$
1,378
$
-
$
-
$
-
$
18,384
[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 nine months ended September 30, 2025 amounted to $
148
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 nine months
ended
September
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 September 30,
2025
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Commercial and industrial
$
742
0.01
%
$
-
-
%
$
742
0.01
%
Consumer:
Credit cards
202
0.02
%
-
-
%
202
0.02
%
Personal
713
0.04
%
-
-
%
713
0.04
%
Total
$
1,657
0.01
%
$
-
-
%
$
1,657
-
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
CRE non-owner occupied
$
1,670
0.05
%
$
-
-
%
$
1,670
0.03
%
CRE owner occupied
13,618
1.14
%
-
-
%
13,618
0.44
%
Commercial and industrial
8,172
0.14
%
925
0.04
%
9,097
0.11
%
Mortgage
15,194
0.21
%
466
0.04
%
15,660
0.18
%
Consumer:
-
Personal
149
0.01
%
8
0.01
%
157
0.01
%
Auto
92
-
%
-
-
%
92
-
%
Total
$
38,895
0.14
%
$
1,399
0.01
%
$
40,294
0.10
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
CRE owner occupied
$
22,889
1.91
%
$
-
-
%
$
22,889
0.74
%
Commercial and industrial
79,734
1.39
%
-
-
%
79,734
0.97
%
Mortgage
303
-
%
-
-
%
303
-
%
Total
$
102,926
0.38
%
$
-
-
%
$
102,926
0.27
%
Combination - Term Extension
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
CRE owner occupied
$
166
0.01
%
$
-
-
%
$
166
0.01
%
Commercial and industrial
2,739
0.05
%
-
-
%
2,739
0.03
%
Mortgage
2,153
0.03
%
-
-
%
2,153
0.03
%
Consumer:
Personal
2,925
0.16
%
39
0.05
%
2,964
0.16
%
Auto
27
-
%
-
-
%
27
-
%
Total
$
8,010
0.03
%
$
39
-
%
$
8,049
0.02
%
Combination -
Other-Than-Insignificant Payment Delays and Interest Rate
Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Commercial and industrial
$
371
0.01
%
$
-
-
%
$
371
-
%
Consumer:
Credit cards
2,666
0.22
%
-
-
%
2,666
0.22
%
Total
$
3,037
0.01
%
$
-
-
%
$
3,037
0.01
%
49
Loan Modifications Made to Borrowers Experiencing Financial
Difficulty for the nine months ended September
30, 2025
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Commercial and industrial
$
2,692
0.05
%
$
-
-
%
$
2,692
0.03
%
Mortgage
69
-
%
-
-
%
69
-
%
Consumer:
Credit cards
617
0.05
%
-
-
%
617
0.05
%
Personal
2,782
0.15
%
-
-
%
2,782
0.15
%
Other
5
-
%
-
-
%
5
-
%
Total
$
6,165
0.02
%
$
-
-
%
$
6,165
0.02
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
CRE non-owner occupied
$
1,773
0.05
%
$
58,652
2.72
%
$
60,425
1.11
%
CRE owner occupied
18,854
1.58
%
-
-
%
18,854
0.61
%
Commercial and industrial
16,163
0.28
%
925
0.04
%
17,088
0.21
%
Mortgage
37,568
0.52
%
1,130
0.09
%
38,698
0.45
%
Consumer:
Personal
630
0.03
%
8
0.01
%
638
0.03
%
Auto
179
-
%
-
-
%
179
-
%
Total
$
75,167
0.28
%
$
60,715
0.53
%
$
135,882
0.35
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
CRE owner occupied
$
29,763
2.49
%
$
-
-
%
$
29,763
0.96
%
Commercial and industrial
165,360
2.87
%
-
-
%
165,360
2.01
%
Mortgage
721
0.01
%
-
-
%
721
0.01
%
Total
$
195,844
0.72
%
$
-
-
%
$
195,844
0.51
%
Combination - Term Extension
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
CRE owner occupied
$
166
0.01
%
$
-
-
%
$
166
0.01
%
Commercial and industrial
2,837
0.05
%
-
-
%
2,837
0.03
%
Mortgage
9,202
0.13
%
-
-
%
9,202
0.11
%
Consumer:
Personal
9,187
0.50
%
154
0.20
%
9,341
0.49
%
Auto
43
-
%
-
-
%
43
-
%
Total
$
21,435
0.08
%
$
154
-
%
$
21,589
0.06
%
50
Combination - Other-Than-Insignificant Payment Delays
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2025
% of total class of
Financing
Receivable
Commercial and industrial
$
1,157
0.02
%
$
-
-
%
$
1,157
0.01
%
Consumer:
Credit cards
7,175
0.59
%
-
-
%
7,175
0.59
%
Total
$
8,332
0.03
%
$
-
-
%
$
8,332
0.02
%
51
Loan Modifications Made to Borrowers Experiencing Financial
Difficulty for the quarter ended September 30,
2024
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2024
% of total class
of Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
CRE owner occupied
$
147
0.01
%
$
-
-
%
$
147
-
%
Commercial and industrial
693
0.01
%
-
-
%
693
0.01
%
Consumer:
Credit cards
213
0.02
%
-
-
%
213
0.02
%
Personal
830
0.05
%
-
-
%
830
0.04
%
Total
$
1,883
0.01
%
$
-
-
%
$
1,883
0.01
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2024
% of total class
of Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Commercial multi-family
$
-
-
%
$
10,570
0.50
%
$
10,570
0.44
%
CRE non-owner occupied
13,108
0.42
%
-
-
%
13,108
0.25
%
CRE owner occupied
764
0.05
%
-
-
%
764
0.02
%
Commercial and industrial
20,966
0.41
%
-
-
%
20,966
0.28
%
Construction
768
0.40
%
-
-
%
768
0.07
%
Mortgage
11,850
0.18
%
429
0.03
%
12,279
0.15
%
Consumer:
Personal
148
0.01
%
-
-
%
148
0.01
%
Total
$
47,604
0.19
%
$
10,999
0.11
%
$
58,603
0.16
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2024
% of total class
of Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
CRE non-owner occupied
$
139
-
%
$
-
-
%
$
139
-
%
CRE owner occupied
4,993
0.36
%
-
-
%
4,993
0.16
%
Commercial and industrial
71,867
1.39
%
-
-
%
71,867
0.97
%
Consumer:
Credit cards
5
-
%
-
-
%
5
-
%
Total
$
77,004
0.30
%
$
-
-
%
$
77,004
0.21
%
Combination - Term Extension
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2024
% of total class
of Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
CRE owner occupied
$
202
0.01
%
$
-
-
%
$
202
0.01
%
Commercial and industrial
44
-
%
-
-
%
44
-
%
Mortgage
4,728
0.07
%
-
-
%
4,728
0.06
%
Consumer:
Personal
2,569
0.15
%
65
0.05
%
2,634
0.14
%
Total
$
7,543
0.03
%
$
65
-
%
$
7,608
0.02
%
52
Combination -
Other-Than-Insignificant Payment Delays and Interest Rate
Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2024
% of total class
of Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Commercial and industrial
$
23
-
%
$
-
-
%
$
23
-
%
Consumer:
Credit cards
862
0.07
%
-
-
%
862
0.07
%
Total
$
885
-
%
$
-
-
%
$
885
-
%
53
Loan Modifications Made to Borrowers Experiencing Financial
Difficulty for the nine months ended September
30, 2024
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
CRE owner occupied
$
175
0.01
%
$
-
-
%
$
175
0.01
%
Commercial and industrial
2,756
0.05
%
-
-
%
2,756
0.04
%
Mortgage
42
-
%
-
-
%
42
-
%
Consumer:
Credit cards
721
0.06
%
-
-
%
721
0.06
%
Personal
1,873
0.11
%
-
-
%
1,873
0.10
%
Other
24
0.02
%
-
-
%
24
0.01
%
Total
$
5,591
0.02
%
$
-
-
%
$
5,591
0.02
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Commercial multi-family
$
-
-
%
$
10,570
0.50
%
$
10,570
0.44
%
CRE non-owner occupied
55,655
1.77
%
-
-
%
55,655
1.07
%
CRE owner occupied
11,482
0.82
%
6,033
0.36
%
17,515
0.57
%
Commercial and industrial
23,837
0.46
%
-
-
%
23,837
0.32
%
Construction
768
0.40
%
-
-
%
768
0.07
%
Mortgage
41,649
0.62
%
1,075
0.08
%
42,724
0.53
%
Consumer:
Personal
537
0.03
%
-
-
%
537
0.03
%
Auto
53
-
%
-
-
%
53
-
%
Total
$
133,981
0.52
%
$
17,678
0.17
%
$
151,659
0.42
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
CRE non-owner occupied
$
139
-
%
$
-
-
%
$
139
-
%
CRE owner occupied
20,591
1.47
%
-
-
%
20,591
0.67
%
Commercial and industrial
75,231
1.45
%
-
-
%
75,231
1.02
%
Mortgage
127
-
%
-
-
%
127
-
%
Consumer:
Credit cards
5
-
%
-
-
%
5
-
%
Total
$
96,093
0.37
%
$
-
-
%
$
96,093
0.27
%
Combination - Term Extension
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
CRE non-owner occupied
$
889
0.03
%
$
-
-
%
$
889
0.02
%
CRE owner occupied
202
0.01
%
-
-
%
202
0.01
%
Commercial and industrial
615
0.01
%
-
-
%
615
0.01
%
Mortgage
13,404
0.20
%
67
0.01
%
13,471
0.17
%
Consumer:
Personal
5,755
0.33
%
312
0.26
%
6,067
0.32
%
Total
$
20,865
0.08
%
$
379
-
%
$
21,244
0.06
%
54
Combination - Other-Than-Insignificant Payment Delays
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Amortized Cost
Basis at
September 30,
2024
% of total class of
Financing
Receivable
Commercial and industrial
$
110
-
%
$
-
-
$
110
-
%
Consumer:
Credit cards
1,335
0.11
%
-
-
1,335
0.11
%
Total
$
1,445
0.01
%
$
-
-
$
1,445
-
%
55
The following tables describe the financial effect of the
modifications made to borrowers experiencing
financial difficulties:
For the quarter ended September 30, 2025
Interest rate reduction
Loan Type
Financial Effect
CRE Owner occupied
Reduced weighted-average contractual interest rate from
10
.0% to
7.5
%
Commercial and industrial
Reduced weighted-average contractual interest rate from
14.4
% to
8
.0%.
Mortgage
Reduced weighted-average contractual interest rate from
6.9
% to
5.4
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
20.6
% to
8.5
%.
Personal
Reduced weighted-average contractual interest rate from
20.1
% to
11.6
%.
Auto
Reduced weighted-average contractual interest rate from
8.2
0% to
8.19
%.
Term extension
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
5
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
3
years to the life of loans.
Commercial and industrial
Added a weighted-average of
7
years 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
6
years to the life of loans.
Auto
Added a weighted-average of
21
months to the life of loans.
Other than insignificant payment delays
Loan Type
Financial Effect
CRE Owner occupied
Added a weighted-average of
9
months to the life of loans.
Commercial and industrial
Added a weighted-average of
14
months to the life of loans.
Mortgage
Added a weighted-average of
22
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
18
months to the life of loans.
56
For the nine months ended September 30, 2025
Interest rate reduction
Loan Type
Financial Effect
CRE Owner occupied
Reduced weighted-average contractual interest rate from
10.0
% to
7.5
%.
Commercial and industrial
Reduced weighted-average contractual interest rate from
18.6
% to
8.7
%.
Mortgage
Reduced weighted-average contractual interest rate from
6.8
% to
5.5
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
20.9
% to
8.4
%.
Personal
Reduced weighted-average contractual interest rate from
21.1
% to
11.7
%.
Auto
Reduced weighted-average contractual interest rate from
11.86
% to
11.85
%.
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
3
years to the life of loans.
Commercial and industrial
Added a weighted-average of
5
years 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.
Other than insignificant payment delay
Loan Type
Financial Effect
CRE Owner occupied
Added a weighted-average of
11
months to the life of loans.
Commercial and industrial
Added a weighted-average of
12
months to the life of loans.
Mortgage
Added a weighted-average of
21
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
17
months to the life of loans.
57
For the quarter ended September 30, 2024
Interest rate reduction
Loan Type
Financial Effect
CRE Owner occupied
Reduced weighted-average contractual interest rate from
10.5
% to
6.6
%.
Commercial and industrial
Reduced weighted-average contractual interest rate from
25.8
% to
10.2
%.
Mortgage
Reduced weighted-average contractual interest rate from
5.9
% to
4.3
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
21.5
% to
8
.0%.
Personal
Reduced weighted-average contractual interest rate from
19.5
% to
10.4
%.
Term extension
Loan Type
Financial Effect
Commercial multi-family
Added a weighted-average of
4
months to the life of loans.
CRE Non-owner occupied
Added a weighted-average of
7
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
5
years to the life of loans.
Commercial and industrial
Added a weighted-average of
1
year to the life of loans.
Construction
Added a weighted-average of
2
months to the life of loans.
Mortgage
Added a weighted-average of
12
years to the life of loans.
Consumer:
Personal
Added a weighted-average of
5
years to the life of loans.
Other than insignificant payment delay
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
14
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
7
months to the life of loans.
Commercial and industrial
Added a weighted-average of
7
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
16
months to the life of loans.
58
For the nine months ended September 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
10.6
% to
6.5
%.
Commercial and industrial
Reduced weighted-average contractual interest rate from
20.6
% to
9.6
%.
Mortgage
Reduced weighted-average contractual interest rate from
6.1
% to
4.4
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
20.9
% to
6.5
%.
Personal
Reduced weighted-average contractual interest rate from
19.1
% to
10
.0%.
Other
Reduced weighted-average contractual interest rate from
18
.0% to
0
.0%.
Term extension
Loan Type
Financial Effect
Commercial multi-family
Added a weighted-average of
4
months to the life of loans.
CRE Non-owner occupied
Added a weighted-average of
9
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
2
years to the life of loans.
Construction
Added a weighted-average of
2
months to the life of loans.
Mortgage
Added a weighted-average of
12
years to the life of loans.
Consumer:
Personal
Added a weighted-average of
8
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
14
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
7
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
18
months to the life of loans.
59
The
following
tables
present,
by
class,
the
performance
of
loans
that
have
been
modified
during
the
twelve
months
preceding
September 30, 2025.
The past due
90 days
or more categories
include 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
September 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
$
-
$
-
$
2,084
$
2,084
$
-
$
2,084
$
311
$
1,773
CRE owner occupied
135
-
2,572
2,707
56,062
58,769
63
2,509
Commercial and industrial
175
171
3,055
3,401
187,480
190,881
520
2,535
Mortgage
5,717
2,960
20,001
28,678
30,224
58,902
6,851
13,150
Consumer:
Credit cards
760
670
1,319
2,749
6,811
9,560
1,135
184
Personal
585
340
2,211
3,136
13,210
16,346
356
1,855
Auto
-
-
-
-
254
254
-
-
Other
-
-
-
-
5
5
-
-
Total
$
7,372
$
4,141
$
31,242
$
42,755
$
294,046
$
336,801
$
9,236
$
22,006
[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.
September 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
$
-
$
-
$
-
$
-
$
58,652
$
58,652
$
-
$
-
Commercial and industrial
-
-
-
-
1,422
1,422
-
-
Mortgage
-
-
-
-
1,519
1,519
-
-
Consumer:
Personal
28
-
13
41
164
205
13
-
Total
$
28
$
-
$
13
$
41
$
61,757
$
61,798
$
13
$
-
[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.
September 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
$
-
$
-
$
2,084
$
2,084
$
58,652
$
60,736
$
311
$
1,773
CRE owner occupied
135
-
2,572
2,707
56,062
58,769
63
2,509
Commercial and industrial
175
171
3,055
3,401
188,902
192,303
520
2,535
Mortgage
5,717
2,960
20,001
28,678
31,743
60,421
6,851
13,150
Consumer:
Credit cards
760
670
1,319
2,749
6,811
9,560
1,135
184
Personal
613
340
2,224
3,177
13,374
16,551
369
1,855
Auto
-
-
-
-
254
254
-
-
Other
-
-
-
-
5
5
-
-
Total
$
7,400
$
4,141
$
31,255
$
42,796
$
355,803
$
398,599
$
9,249
$
22,006
[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
September 30, 2024.
BPPR
September 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
$
-
$
-
$
63
$
63
$
-
$
63
$
-
$
63
CRE non-owner occupied
-
-
2,798
2,798
55,766
58,564
-
2,798
CRE owner occupied
92
-
2,232
2,324
36,355
38,679
89
2,143
Commercial and industrial
12,359
26
4,817
17,202
86,203
103,405
96
4,721
Construction
-
-
-
-
768
768
-
-
Mortgage
5,649
4,359
24,206
34,214
40,358
74,572
6,609
17,597
Consumer:
Credit cards
205
81
283
569
1,715
2,284
197
86
Personal
286
51
1,914
2,251
6,854
9,105
210
1,704
Auto
-
-
34
34
69
103
-
34
Other
24
-
-
24
4
28
-
-
Total
$
18,615
$
4,517
$
36,347
$
59,479
$
228,092
$
287,571
$
7,201
$
29,146
[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.
September 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
$
-
$
-
$
-
$
-
$
10,570
$
10,570
$
-
$
-
CRE owner occupied
-
-
-
-
39,855
39,855
-
-
Mortgage
-
-
795
795
407
1,202
-
795
Consumer:
Personal
29
-
85
114
216
330
-
85
Total
$
29
$
-
$
880
$
909
$
51,048
$
51,957
$
-
$
880
[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.
September 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
$
-
$
-
$
63
$
63
$
10,570
$
10,633
$
-
$
63
CRE non-owner occupied
-
-
2,798
2,798
55,766
58,564
-
2,798
CRE owner occupied
92
-
2,232
2,324
76,210
78,534
89
2,143
Commercial and industrial
12,359
26
4,817
17,202
86,203
103,405
96
4,721
Construction
-
-
-
-
768
768
-
-
Mortgage
5,649
4,359
25,001
35,009
40,765
75,774
6,609
18,392
Consumer:
Credit cards
205
81
283
569
1,715
2,284
197
86
Personal
315
51
1,999
2,365
7,070
9,435
210
1,789
Auto
-
-
34
34
69
103
-
34
Other
24
-
-
24
4
28
-
-
Total
$
18,644
$
4,517
$
37,227
$
60,388
$
279,140
$
339,528
$
7,201
$
30,026
[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 September
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
$
-
$
-
$
311
$
-
$
-
$
311
Commercial and industrial
110
131
122
-
150
513
Mortgage
-
6,021
236
569
-
6,826
Consumer:
Credit cards
270
-
-
-
938
1,208
Personal
353
-
-
68
-
421
Total
$
733
$
6,152
$
669
$
637
$
1,088
$
9,279
Amortized Cost Basis of Modified Financing Receivables That
Subsequently Defaulted During the Nine Months Ended
September 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
$
-
$
-
$
438
$
-
$
-
$
438
CRE owner occupied
-
-
176
-
-
176
Commercial and industrial
166
131
122
-
339
758
Mortgage
-
12,784
236
1,835
-
14,855
Consumer:
Credit cards
440
-
-
-
1,298
1,738
Personal
410
45
-
105
-
560
Total
$
1,016
$
12,960
$
972
$
1,940
$
1,637
$
18,525
Amortized Cost Basis of Modified Financing Receivables That
Subsequently Defaulted During the Quarter Ended September
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
$
-
$
-
$
89
$
-
$
-
$
89
Commercial and industrial
6
45
-
-
-
51
Mortgage
-
5,911
127
919
-
6,957
Consumer:
Credit cards
223
-
-
-
19
242
Personal
186
42
-
118
-
346
Total
$
415
$
5,998
$
216
$
1,037
$
19
$
7,685
62
Amortized Cost Basis of Modified Financing Receivables That
Subsequently Defaulted During the Nine Months Ended
September 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
$
-
$
536
$
89
$
-
$
-
$
625
Commercial and industrial
6
9,130
11
-
50
9,197
Mortgage
-
12,281
127
2,177
-
14,585
Consumer:
Credit cards
285
-
-
-
54
339
Personal
260
42
-
258
-
560
Total
$
551
$
21,989
$
227
$
2,435
$
104
$
25,306
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 September
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
September 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
$
5,767
$
33,483
$
36,660
$
133,261
$
20,611
$
47,906
$
107
$
-
$
277,795
Watch
-
15,880
-
528
-
948
-
-
17,356
Special Mention
219
-
-
-
75
3,122
-
-
3,416
Substandard
-
-
-
-
-
3,799
-
-
3,799
Total commercial
multi-family
$
5,986
$
49,363
$
36,660
$
133,789
$
20,686
$
55,775
$
107
$
-
$
302,366
Commercial real estate non-owner occupied
Pass
$
307,242
$
440,086
$
275,057
$
796,328
$
517,382
$
708,490
$
7,907
$
-
$
3,052,492
Watch
9,391
9,750
18,744
5,153
24,694
55,619
-
-
123,351
Special Mention
-
-
23,362
147
-
19,146
-
-
42,655
Substandard
-
729
8,627
30,379
26,020
18,492
-
-
84,247
Total commercial
real estate non-
owner occupied
$
316,633
$
450,565
$
325,790
$
832,007
$
568,096
$
801,747
$
7,907
$
-
$
3,302,745
Year-to-Date gross
write-offs
$
-
$
13,356
$
-
$
134
$
-
$
86
$
-
$
-
$
13,576
Commercial real estate owner occupied
Pass
$
59,045
$
135,482
$
73,688
$
95,839
$
171,002
$
316,767
$
3,961
$
-
$
855,784
Watch
2,105
11,092
5,455
29,058
29,571
74,965
1,886
-
154,132
Special Mention
-
-
1,793
16,062
796
15,956
1,499
-
36,106
Substandard
13,441
351
1,414
39,420
9,189
70,920
14,448
-
149,183
Doubtful
-
-
-
-
-
79
-
-
79
Total commercial
real estate owner
occupied
$
74,591
$
146,925
$
82,350
$
180,379
$
210,558
$
478,687
$
21,794
$
-
$
1,195,284
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
103
$
-
$
-
$
103
Commercial and industrial
Pass
$
932,284
$
666,483
$
775,714
$
489,942
$
205,112
$
359,273
$
1,380,285
$
-
$
4,809,093
Watch
5,888
98,918
14,605
8,809
3,748
21,330
166,902
-
320,200
Special Mention
20,525
22,327
9,475
62,104
475
2,897
15,186
-
132,989
Substandard
12,269
12,994
53,950
76,399
158,743
19,757
155,604
-
489,716
Total commercial
and industrial
$
970,966
$
800,722
$
853,744
$
637,254
$
368,078
$
403,257
$
1,717,977
$
-
$
5,751,998
Year-to-Date gross
write-offs
$
845
$
332
$
209
$
389
$
21
$
212
$
6,571
$
-
$
8,579
Construction
Pass
$
18,405
$
119,700
$
77,544
$
9,379
$
2,925
$
10,269
$
49,038
$
-
$
287,260
Watch
-
-
16,615
-
78
-
-
-
16,693
Total construction
$
18,405
$
119,700
$
94,159
$
9,379
$
3,003
$
10,269
$
49,038
$
-
$
303,953
Mortgage
Pass
$
752,769
$
885,122
$
691,353
$
390,170
$
383,945
$
4,058,832
$
-
$
-
$
7,162,191
Substandard
-
354
2,527
2,037
874
65,123
-
-
70,915
Total mortgage
$
752,769
$
885,476
$
693,880
$
392,207
$
384,819
$
4,123,955
$
-
$
-
$
7,233,106
Year-to-Date gross
write-offs
$
31
$
-
$
1
$
-
$
-
$
1,538
$
-
$
-
$
1,570
64
September 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
$
553,617
$
571,841
$
385,290
$
277,696
$
154,797
$
47,637
$
-
$
-
$
1,990,878
Substandard
256
1,156
2,254
2,271
1,176
593
-
-
7,706
Loss
-
-
-
33
34
-
-
-
67
Total leasing
$
553,873
$
572,997
$
387,544
$
280,000
$
156,007
$
48,230
$
-
$
-
$
1,998,651
Year-to-Date gross
write-offs
$
520
$
3,244
$
3,717
$
3,778
$
1,284
$
-
$
-
$
-
$
12,543
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,199,942
$
-
$
1,199,942
Substandard
-
-
-
-
-
-
25,622
-
25,622
Loss
-
-
-
-
-
-
3
-
3
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,225,567
$
-
$
1,225,567
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
57,015
$
-
$
57,015
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,693
$
-
$
1,693
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
-
$
1,693
$
-
$
1,693
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
25
$
-
$
25
Personal
Pass
$
667,332
$
496,053
$
307,971
$
157,341
$
61,363
$
85,216
$
-
$
29,114
$
1,804,390
Substandard
671
2,548
3,519
2,104
847
6,692
-
2,213
18,594
Loss
-
61
58
5
22
18
-
-
164
Total Personal
$
668,003
$
498,662
$
311,548
$
159,450
$
62,232
$
91,926
$
-
$
31,327
$
1,823,148
Year-to-Date gross
write-offs
$
586
$
12,216
$
26,518
$
14,121
$
3,709
$
1,631
$
-
$
1,943
$
60,724
Auto
Pass
$
899,264
$
1,068,559
$
762,480
$
513,010
$
357,768
$
191,541
$
-
$
-
$
3,792,622
Substandard
2,250
15,673
14,283
11,662
7,750
6,535
-
-
58,153
Loss
-
17
103
37
-
21
-
-
178
Total Auto
$
901,514
$
1,084,249
$
776,866
$
524,709
$
365,518
$
198,097
$
-
$
-
$
3,850,953
Year-to-Date gross
write-offs
$
3,122
$
21,282
$
15,163
$
9,159
$
3,657
$
1,266
$
-
$
-
$
53,649
Other consumer
Pass
$
28,822
$
25,904
$
23,307
$
16,942
$
8,217
$
3,455
$
63,479
$
-
$
170,126
Substandard
-
-
216
104
22
52
419
-
813
Loss
-
-
-
1,025
363
-
-
-
1,388
Total Other
consumer
$
28,822
$
25,904
$
23,523
$
18,071
$
8,602
$
3,507
$
63,898
$
-
$
172,327
Year-to-Date gross
write-offs
$
30
$
191
$
226
$
181
$
313
$
1,398
$
-
$
-
$
2,339
Total BPPR
$
4,291,562
$
4,634,563
$
3,586,064
$
3,167,245
$
2,147,599
$
6,215,450
$
3,087,981
$
31,327
$
27,161,791
65
September 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
$
296,771
$
141,317
$
151,040
$
464,528
$
297,074
$
652,853
$
7,077
$
-
$
2,010,660
Watch
-
-
-
15,589
24,021
100,470
-
-
140,080
Special Mention
-
-
-
7,882
-
2,503
-
-
10,385
Substandard
-
-
1,781
2,736
-
21,581
-
-
26,098
Total commercial
multi-family
$
296,771
$
141,317
$
152,821
$
490,735
$
321,095
$
777,407
$
7,077
$
-
$
2,187,223
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
563
$
-
$
-
$
563
Commercial real estate non-owner occupied
Pass
$
152,036
$
184,351
$
312,258
$
472,285
$
174,416
$
632,757
$
4,585
$
-
$
1,932,688
Watch
10,300
8,834
10,841
11,285
-
52,924
-
-
94,184
Substandard
-
-
-
13,023
7,430
112,510
-
-
132,963
Total commercial
real estate non-
owner occupied
$
162,336
$
193,185
$
323,099
$
496,593
$
181,846
$
798,191
$
4,585
$
-
$
2,159,835
Commercial real estate owner occupied
Pass
$
321,250
$
251,751
$
246,753
$
263,185
$
242,063
$
286,643
$
9,556
$
-
$
1,621,201
Watch
-
13,500
25,247
7,799
2,284
48,409
1,600
-
98,839
Special Mention
-
18,001
-
-
-
11,055
-
-
29,056
Substandard
-
2,715
-
54,030
2,308
87,291
-
-
146,344
Total commercial
real estate owner
occupied
$
321,250
$
285,967
$
272,000
$
325,014
$
246,655
$
433,398
$
11,156
$
-
$
1,895,440
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
26
$
-
$
-
$
26
Commercial and industrial
Pass
$
193,963
$
327,871
$
277,660
$
327,177
$
280,585
$
661,457
$
264,838
$
-
$
2,333,551
Watch
-
1,706
9,462
29,796
22,081
63,952
4,295
-
131,292
Special Mention
-
-
4,454
180
342
207
810
-
5,993
Substandard
-
5,670
864
4,464
152
1,457
10,198
-
22,805
Total commercial
and industrial
$
193,963
$
335,247
$
292,440
$
361,617
$
303,160
$
727,073
$
280,141
$
-
$
2,493,641
Year-to-Date gross
write-offs
$
100
$
1,106
$
-
$
-
$
599
$
5
$
108
$
-
$
1,918
Construction
Pass
$
229,225
$
420,979
$
427,419
$
85,358
$
-
$
6,030
$
12,333
$
-
$
1,181,344
Watch
741
5,007
47,416
47,642
-
6,999
-
-
107,805
Special Mention
-
-
2,908
-
-
-
-
-
2,908
Substandard
-
-
-
8,602
-
-
-
-
8,602
Total construction
$
229,966
$
425,986
$
477,743
$
141,602
$
-
$
13,029
$
12,333
$
-
$
1,300,659
Mortgage
Pass
$
94,885
$
84,091
$
85,278
$
207,578
$
262,878
$
562,783
$
-
$
-
$
1,297,493
Substandard
-
-
644
-
217
26,948
-
-
27,809
Total mortgage
$
94,885
$
84,091
$
85,922
$
207,578
$
263,095
$
589,731
$
-
$
-
$
1,325,302
66
September 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:
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
5,580
$
58,047
$
10,311
$
73,938
Substandard
-
-
-
-
-
1,423
13
763
2,199
Loss
-
-
-
-
-
165
-
895
1,060
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
7,168
$
58,060
$
11,969
$
77,197
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
46
$
-
$
46
Personal
Pass
$
16,107
$
20,115
$
14,538
$
19,843
$
4,249
$
1,384
$
-
$
-
$
76,236
Substandard
82
74
171
259
16
269
-
-
871
Loss
-
-
22
-
-
48
-
-
70
Total Personal
$
16,189
$
20,189
$
14,731
$
20,102
$
4,265
$
1,701
$
-
$
-
$
77,177
Year-to-Date gross
write-offs
$
-
$
1,665
$
1,845
$
3,051
$
577
$
37
$
-
$
-
$
7,175
Other consumer
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
8,863
$
-
$
8,863
Substandard
-
-
-
-
-
-
30
-
30
Total Other
consumer
$
-
$
-
$
-
$
-
$
-
$
-
$
8,893
$
-
$
8,893
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
67
$
-
$
67
Total Popular U.S.
$
1,315,360
$
1,485,982
$
1,618,756
$
2,043,241
$
1,320,116
$
3,347,698
$
382,245
$
11,969
$
11,525,367
67
September 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
$
302,538
$
174,800
$
187,700
$
597,789
$
317,685
$
700,759
$
7,184
$
-
$
2,288,455
Watch
-
15,880
-
16,117
24,021
101,418
-
-
157,436
Special Mention
219
-
-
7,882
75
5,625
-
-
13,801
Substandard
-
-
1,781
2,736
-
25,380
-
-
29,897
Total commercial
multi-family
$
302,757
$
190,680
$
189,481
$
624,524
$
341,781
$
833,182
$
7,184
$
-
$
2,489,589
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
563
$
-
$
-
$
563
Commercial real estate non-owner occupied
Pass
$
459,278
$
624,437
$
587,315
$
1,268,613
$
691,798
$
1,341,247
$
12,492
$
-
$
4,985,180
Watch
19,691
18,584
29,585
16,438
24,694
108,543
-
-
217,535
Special Mention
-
-
23,362
147
-
19,146
-
-
42,655
Substandard
-
729
8,627
43,402
33,450
131,002
-
-
217,210
Total commercial
real estate non-
owner occupied
$
478,969
$
643,750
$
648,889
$
1,328,600
$
749,942
$
1,599,938
$
12,492
$
-
$
5,462,580
Year-to-Date gross
write-offs
$
-
$
13,356
$
-
$
134
$
-
$
86
$
-
$
-
$
13,576
Commercial real estate owner occupied
Pass
$
380,295
$
387,233
$
320,441
$
359,024
$
413,065
$
603,410
$
13,517
$
-
$
2,476,985
Watch
2,105
24,592
30,702
36,857
31,855
123,374
3,486
-
252,971
Special Mention
-
18,001
1,793
16,062
796
27,011
1,499
-
65,162
Substandard
13,441
3,066
1,414
93,450
11,497
158,211
14,448
-
295,527
Doubtful
-
-
-
-
-
79
-
-
79
Total commercial
real estate owner
occupied
$
395,841
$
432,892
$
354,350
$
505,393
$
457,213
$
912,085
$
32,950
$
-
$
3,090,724
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
129
$
-
$
-
$
129
Commercial and industrial
Pass
$
1,126,247
$
994,354
$
1,053,374
$
817,119
$
485,697
$
1,020,730
$
1,645,123
$
-
$
7,142,644
Watch
5,888
100,624
24,067
38,605
25,829
85,282
171,197
-
451,492
Special Mention
20,525
22,327
13,929
62,284
817
3,104
15,996
-
138,982
Substandard
12,269
18,664
54,814
80,863
158,895
21,214
165,802
-
512,521
Total commercial
and industrial
$
1,164,929
$
1,135,969
$
1,146,184
$
998,871
$
671,238
$
1,130,330
$
1,998,118
$
-
$
8,245,639
Year-to-Date gross
write-offs
$
945
$
1,438
$
209
$
389
$
620
$
217
$
6,679
$
-
$
10,497
68
September 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
$
247,630
$
540,679
$
504,963
$
94,737
$
2,925
$
16,299
$
61,371
$
-
$
1,468,604
Watch
741
5,007
64,031
47,642
78
6,999
-
-
124,498
Special Mention
-
-
2,908
-
-
-
-
-
2,908
Substandard
-
-
-
8,602
-
-
-
-
8,602
Total construction
$
248,371
$
545,686
$
571,902
$
150,981
$
3,003
$
23,298
$
61,371
$
-
$
1,604,612
Mortgage
Pass
$
847,654
$
969,213
$
776,631
$
597,748
$
646,823
$
4,621,615
$
-
$
-
$
8,459,684
Substandard
-
354
3,171
2,037
1,091
92,071
-
-
98,724
Total mortgage
$
847,654
$
969,567
$
779,802
$
599,785
$
647,914
$
4,713,686
$
-
$
-
$
8,558,408
Year-to-Date gross
write-offs
$
31
$
-
$
1
$
-
$
-
$
1,538
$
-
$
-
$
1,570
Leasing
Pass
$
553,617
$
571,841
$
385,290
$
277,696
$
154,797
$
47,637
$
-
$
-
$
1,990,878
Substandard
256
1,156
2,254
2,271
1,176
593
-
-
7,706
Loss
-
-
-
33
34
-
-
-
67
Total leasing
$
553,873
$
572,997
$
387,544
$
280,000
$
156,007
$
48,230
$
-
$
-
$
1,998,651
Year-to-Date gross
write-offs
$
520
$
3,244
$
3,717
$
3,778
$
1,284
$
-
$
-
$
-
$
12,543
69
September 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
$
-
$
-
$
-
$
-
$
-
$
-
$
1,199,942
$
-
$
1,199,942
Substandard
-
-
-
-
-
-
25,622
-
25,622
Loss
-
-
-
-
-
-
3
-
3
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,225,567
$
-
$
1,225,567
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
57,015
$
-
$
57,015
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
5,580
$
59,740
$
10,311
$
75,631
Substandard
-
-
-
-
-
1,423
13
763
2,199
Loss
-
-
-
-
-
165
-
895
1,060
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
7,168
$
59,753
$
11,969
$
78,890
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
71
$
-
$
71
Personal
Pass
$
683,439
$
516,168
$
322,509
$
177,184
$
65,612
$
86,600
$
-
$
29,114
$
1,880,626
Substandard
753
2,622
3,690
2,363
863
6,961
-
2,213
19,465
Loss
-
61
80
5
22
66
-
-
234
Total Personal
$
684,192
$
518,851
$
326,279
$
179,552
$
66,497
$
93,627
$
-
$
31,327
$
1,900,325
Year-to-Date gross
write-offs
$
586
$
13,881
$
28,363
$
17,172
$
4,286
$
1,668
$
-
$
1,943
$
67,899
Auto
Pass
$
899,264
$
1,068,559
$
762,480
$
513,010
$
357,768
$
191,541
$
-
$
-
$
3,792,622
Substandard
2,250
15,673
14,283
11,662
7,750
6,535
-
-
58,153
Loss
-
17
103
37
-
21
-
-
178
Total Auto
$
901,514
$
1,084,249
$
776,866
$
524,709
$
365,518
$
198,097
$
-
$
-
$
3,850,953
Year-to-Date gross
write-offs
$
3,122
$
21,282
$
15,163
$
9,159
$
3,657
$
1,266
$
-
$
-
$
53,649
Other consumer
Pass
$
28,822
$
25,904
$
23,307
$
16,942
$
8,217
$
3,455
$
72,342
$
-
$
178,989
Substandard
-
-
216
104
22
52
449
-
843
Loss
-
-
-
1,025
363
-
-
-
1,388
Total Other
consumer
$
28,822
$
25,904
$
23,523
$
18,071
$
8,602
$
3,507
$
72,791
$
-
$
181,220
Year-to-Date gross
write-offs
$
30
$
191
$
226
$
181
$
313
$
1,398
$
67
$
-
$
2,406
Total Popular Inc.
$
5,606,922
$
6,120,545
$
5,204,820
$
5,210,486
$
3,467,715
$
9,563,148
$
3,470,226
$
43,296
$
38,687,158
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
74
December 31, 2024
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2024
2023
2022
2021
2020
Prior
Years
Total
Popular U.S.
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
26
$
-
$
26
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
26
$
-
$
26
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
5,914
$
50,533
$
11,691
$
68,138
Substandard
-
-
-
-
-
1,657
15
700
2,372
Loss
-
-
-
-
-
122
-
899
1,021
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
7,693
$
50,548
$
13,290
$
71,531
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
53
$
-
$
53
Personal
Pass
$
28,083
$
23,084
$
41,182
$
8,618
$
651
$
1,507
$
-
$
-
$
103,125
Substandard
157
399
627
134
7
302
-
-
1,626
Loss
53
10
-
5
-
48
-
-
116
Total Personal
$
28,293
$
23,493
$
41,809
$
8,757
$
658
$
1,857
$
-
$
-
$
104,867
Year-to-Date gross
write-offs
$
802
$
4,536
$
10,869
$
2,458
$
231
$
307
$
-
$
-
$
19,203
Other consumer
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
11,537
$
-
$
11,537
Substandard
-
-
-
-
-
-
12
-
12
Total Other
consumer
$
-
$
-
$
-
$
-
$
-
$
-
$
11,549
$
-
$
11,549
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
101
$
-
$
101
Total Popular U.S.
$
1,271,148
$
1,743,796
$
2,211,046
$
1,506,705
$
1,040,610
$
2,726,041
$
415,995
$
13,290
$
10,928,631
75
December 31, 2024
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2024
2023
2022
2021
2020
Prior
Years
Total
Popular, Inc.
Commercial:
Commercial multi-family
Pass
$
189,754
$
185,634
$
627,843
$
334,549
$
227,461
$
594,900
$
5,805
$
-
$
2,165,946
Watch
-
10,974
27,982
26,679
10,668
116,020
-
-
192,323
Special Mention
-
-
8,004
-
-
3,161
-
-
11,165
Substandard
-
-
2,761
-
-
27,425
-
-
30,186
Total commercial
multi-family
$
189,754
$
196,608
$
666,590
$
361,228
$
238,129
$
741,506
$
5,805
$
-
$
2,399,620
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
441
$
-
$
-
$
441
Commercial real estate non-owner occupied
Pass
$
597,555
$
691,595
$
1,308,459
$
715,513
$
528,369
$
981,777
$
14,747
$
-
$
4,838,015
Watch
26,097
15,228
17,779
18,487
74,696
115,314
372
-
267,973
Special Mention
7,018
41,274
156
406
-
46,984
-
-
95,838
Substandard
-
1,002
2,767
29,171
7,712
120,757
-
-
161,409
Total commercial
real estate non-
owner occupied
$
630,670
$
749,099
$
1,329,161
$
763,577
$
610,777
$
1,264,832
$
15,119
$
-
$
5,363,235
Year-to-Date gross
write-offs
$
-
$
-
$
69
$
-
$
-
$
113
$
-
$
-
$
182
Commercial real estate owner occupied
Pass
$
436,227
$
336,695
$
338,819
$
493,939
$
81,665
$
555,949
$
14,883
$
-
$
2,258,177
Watch
14,002
28,251
78,266
39,357
21,191
140,457
3
-
321,527
Special Mention
-
1,697
88,941
53,716
27,406
26,697
1,499
-
199,956
Substandard
455
1,651
37,629
6,468
144,257
174,571
13,021
-
378,052
Doubtful
-
-
-
-
-
34
-
-
34
Total commercial
real estate owner
occupied
$
450,684
$
368,294
$
543,655
$
593,480
$
274,519
$
897,708
$
29,406
$
-
$
3,157,746
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
2,947
$
-
$
-
$
2,947
Commercial and industrial
Pass
$
1,050,752
$
1,186,326
$
921,018
$
626,924
$
334,986
$
838,466
$
1,768,712
$
-
$
6,727,184
Watch
124,987
36,355
98,450
34,532
12,986
67,107
150,861
-
525,278
Special Mention
5,577
7,316
7,165
158,195
53
30,615
32,006
-
240,927
Substandard
8,339
30,496
37,558
4,398
14,821
24,745
127,754
-
248,111
Doubtful
-
-
-
-
-
11
-
-
11
Loss
-
-
-
-
-
-
51
-
51
Total commercial
and industrial
$
1,189,655
$
1,260,493
$
1,064,191
$
824,049
$
362,846
$
960,944
$
2,079,384
$
-
$
7,741,562
Year-to-Date gross
write-offs
$
2,202
$
2,278
$
521
$
422
$
3,049
$
12,321
$
7,740
$
-
$
28,533
76
December 31, 2024
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2024
2023
2022
2021
2020
Prior
Years
Total
Popular, Inc.
Construction
Pass
$
322,301
$
565,498
$
188,691
$
14,908
$
9,483
$
1,776
$
16,782
$
-
$
1,119,439
Watch
-
15,413
36,264
-
-
7,172
24,691
-
83,540
Special Mention
-
4,897
6,367
6,058
-
-
-
-
17,322
Substandard
-
-
8,104
576
-
25,473
9,338
-
43,491
Total construction
$
322,301
$
585,808
$
239,426
$
21,542
$
9,483
$
34,421
$
50,811
$
-
$
1,263,792
Mortgage
Pass
$
977,420
$
813,171
$
624,733
$
674,021
$
450,511
$
4,467,834
$
-
$
-
$
8,007,690
Substandard
-
2,605
1,437
2,535
347
99,569
-
-
106,493
Total mortgage
$
977,420
$
815,776
$
626,170
$
676,556
$
450,858
$
4,567,403
$
-
$
-
$
8,114,183
Year-to-Date gross
write-offs
$
-
$
9
$
-
$
8
$
-
$
1,085
$
-
$
-
$
1,102
Leasing
Pass
$
731,053
$
477,226
$
362,426
$
217,537
$
104,812
$
22,762
$
-
$
-
$
1,915,816
Substandard
1,195
2,280
2,834
1,885
920
402
-
-
9,516
Loss
-
-
-
-
-
73
-
-
73
Total leasing
$
732,248
$
479,506
$
365,260
$
219,422
$
105,732
$
23,237
$
-
$
-
$
1,925,405
Year-to-Date gross
write-offs
$
1,733
$
4,842
$
5,373
$
3,281
$
694
$
1,052
$
-
$
-
$
16,975