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Popular, Inc. (Holding only) (Tables)
 12 Months Ended
Dec. 31, 2018
Schedule of Condensed Balance Sheet [Table Text Block]
Condensed Consolidating Statement of Financial Condition
At December 31, 2018
All other
Popular Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Assets:
Cash and due from banks$68,022$-$394,035$(68,022)$394,035
Money market investments176,25615,2884,170,792(191,288)4,171,048
Trading account debt securities, at fair value--37,787-37,787
Debt securities available-for-sale, at
fair value--13,300,184-13,300,184
Debt securities held-to-maturity, at
amortized cost8,7262,83590,014-101,575
Equity securities6,69320149,012(141)155,584
Investment in subsidiaries5,704,1191,700,082-(7,404,201)-
Loans held-for-sale, at lower of cost or
fair value--51,422-51,422
Loans held-in-portfolio:
Loans not covered under loss-sharing
agreements with the FDIC32,678-26,625,0805,95526,663,713
Less - Unearned income--155,824-155,824
Allowance for loan losses155-569,193-569,348
Total loans held-in-portfolio, net32,523-25,900,0635,95525,938,541
Premises and equipment, net3,394-566,414-569,808
Other real estate not covered under loss-
sharing agreements with the FDIC146-136,559-136,705
Accrued income receivable284116165,767(145)166,022
Mortgage servicing assets, at fair value--169,777-169,777
Other assets76,07327,6391,626,119(15,697)1,714,134
Goodwill--671,123(1)671,122
Other intangible assets6,559-20,274-26,833
Total assets$6,082,795$1,745,980$47,449,342$(7,673,540)$47,604,577
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Non-interest bearing$-$-$9,217,058$(68,022)$9,149,036
Interest bearing--30,752,291(191,288)30,561,003
Total deposits--39,969,349(259,310)39,710,039
Assets sold under agreements to repurchase--281,529-281,529
Other short-term borrowings--42-42
Notes payable584,85194,063577,188-1,256,102
Other liabilities62,7993,287871,733(16,011)921,808
Total liabilities647,65097,35041,699,841(275,321)42,169,520
Stockholders' equity:
Preferred stock50,160---50,160
Common stock1,043256,307(56,309)1,043
Surplus4,357,0794,172,9835,790,324(9,954,780)4,365,606
Retained earnings (accumulated deficit)1,660,258(2,479,503)327,7132,143,2631,651,731
Treasury stock, at cost(205,421)--(88)(205,509)
Accumulated other comprehensive loss,
net of tax(427,974)(44,852)(424,843)469,695(427,974)
Total stockholders' equity5,435,1451,648,6305,749,501(7,398,219)5,435,057
Total liabilities and stockholders' equity$6,082,795$1,745,980$47,449,342$(7,673,540)$47,604,577

Condensed Consolidating Statement of Financial Condition
At December 31, 2017
All other
Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Assets:
Cash and due from banks$47,663$462$402,910$(48,178)$402,857
Money market investments246,4572,8075,254,662(248,807)5,255,119
Trading account debt securities, at fair value--33,926-33,926
Debt securities available-for-sale, at
fair value--10,176,923-10,176,923
Debt securities held-to-maturity, at
amortized cost8,7264,47293,821-107,019
Equity securities5,10920160,075(101)165,103
Investment in subsidiaries5,494,4101,646,287-(7,140,697)-
Loans held-for-sale, at lower of cost or
fair value--132,395-132,395
Loans held-in-portfolio:
Loans not covered under loss-sharing
agreements with the FDIC33,221-24,384,2515,95524,423,427
Loans covered under loss-sharing
agreements with the FDIC--517,274-517,274
Less - Unearned income--130,633-130,633
Allowance for loan losses266-623,160-623,426
Total loans held-in-portfolio, net32,955-24,147,7325,95524,186,642
FDIC loss-share asset--45,192-45,192
Premises and equipment, net3,365-543,777-547,142
Other real estate not covered under loss-sharing
agreements with the FDIC--169,260-169,260
Other real estate covered under loss-sharing
agreements with the FDIC--19,595-19,595
Accrued income receivable369112213,574(211)213,844
Mortgage servicing assets, at fair value--168,031-168,031
Other assets61,31934,3121,912,727(17,035)1,991,323
Goodwill--627,294-627,294
Other intangible assets6,114-29,558-35,672
Total assets$5,906,487$1,688,472$44,131,452$(7,449,074)$44,277,337
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Non-interest bearing$-$-$8,539,123$(48,178)$8,490,945
Interest bearing--27,211,370(248,807)26,962,563
Total deposits--35,750,493(296,985)35,453,508
Assets sold under agreements to repurchase--390,921-390,921
Other short-term borrowings--96,208-96,208
Notes payable737,685148,539650,132-1,536,356
Other liabilities64,8135,2761,641,383(15,033)1,696,439
Total liabilities802,498153,81538,529,137(312,018)39,173,432
Stockholders' equity:
Preferred stock50,160---50,160
Common stock1,042256,307(56,309)1,042
Surplus4,289,9764,100,8485,728,978(9,821,299)4,298,503
Retained earnings (accumulated deficit)1,203,521(2,536,707)165,8782,362,3021,194,994
Treasury stock, at cost(90,058)--(84)(90,142)
Accumulated other comprehensive loss,
net of tax(350,652)(29,486)(348,848)378,334(350,652)
Total stockholders' equity5,103,9891,534,6575,602,315(7,137,056)5,103,905
Total liabilities and stockholders' equity$5,906,487$1,688,472$44,131,452$(7,449,074)$44,277,337
Schedule of Condensed Income Statement [Table Text Block]
Condensed Consolidating Statement of Operations
Year ended December 31, 2018
All other
Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Interest and dividend income:
Dividend income from subsidiaries$453,200$-$-$(453,200)$-
Loans2,115-1,643,670(49)1,645,736
Money market investments5,55569111,287(5,623)111,288
Investment securities696279263,849-264,824
Total interest and dividend income461,5663482,018,806(458,872)2,021,848
Interest expense:
Deposits--209,888(5,623)204,265
Short-term borrowings-497,210(49)7,210
Long-term debt51,2189,33014,948-75,496
Total interest expense51,2189,379232,046(5,672)286,971
Net interest income (expense)410,348(9,031)1,786,760(453,200)1,734,877
Provision (reversal) for loan losses- non-covered loans(251)-226,593-226,342
Provision for loan losses- covered loans--1,730-1,730
Net interest income (expense)
after provision for loan losses410,599(9,031)1,558,437(453,200)1,506,805
Service charges on deposit accounts--150,677-150,677
Other service fees--260,730(2,710)258,020
Mortgage banking activities--52,802-52,802
Net loss, including impairment on equity securities(777)-(1,268)(36)(2,081)
Net loss on trading account debt securities--(208)-(208)
Net gain on sale of loans, including valuation
adjustments on loans held-for-sale--33-33
Adjustments (expense) to indemnity reserves
on loans sold--(12,959)-(12,959)
FDIC loss-share income--94,725-94,725
Other operating income15,75173795,037(40)111,485
Total non-interest income14,974737639,569(2,786)652,494
Operating expenses:
Personnel costs59,821-503,167-562,988
Net occupancy expenses4,055-84,274-88,329
Equipment expenses3,433368,352-71,788
Other taxes233146,050-46,284
Professional fees18,159178331,978(471)349,844
Communications485-22,622-23,107
Business promotion2,236-63,682-65,918
FDIC deposit insurance--27,757-27,757
Loss on early extinguishment of debt12,522---12,522
Other real estate owned (OREO) expenses --23,338-23,338
Other operating expenses(84,807)80227,463(2,375)140,361
Amortization of intangibles41-9,285-9,326
Total operating expenses16,1782621,407,968(2,846)1,421,562
Income (loss) before income tax
and equity in earnings of subsidiaries409,395(8,556)790,038(453,140)737,737
Income tax expense-3,267116,27537119,579
Income (loss) before equity in
earnings of subsidiaries409,395(11,823)673,763(453,177)618,158
Equity in undistributed earnings of
subsidiaries208,76369,027-(277,790)-
Net income$618,158$57,204$673,763$(730,967)$618,158
Comprehensive income, net of tax$540,836$41,838$597,768$(639,606)$540,836

Condensed Consolidating Statement of Operations
Year ended December 31, 2017
All other
Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Interest and dividend income:
Dividend income from subsidiaries$211,500$-$-$(211,500)$-
Loans1,056-1,477,713(4)1,478,765
Money market investments2,6165451,495(2,670)51,495
Investment securities566322194,796-195,684
Total interest and dividend income215,7383761,724,004(214,174)1,725,944
Interest expense:
Deposits--144,534(2,670)141,864
Short-term borrowings--5,728(4)5,724
Long-term debt52,47010,76713,155-76,392
Total interest expense52,47010,767163,417(2,674)223,980
Net interest income (expense) 163,268(10,391)1,560,587(211,500)1,501,964
Provision for loan losses- non-covered loans403-325,234(5,955)319,682
Provision for loan losses- covered loans--5,742-5,742
Net interest income (expense) after provision
for loan losses162,865(10,391)1,229,611(205,545)1,176,540
Service charges on deposit accounts--153,709-153,709
Other service fees--220,073(2,806)217,267
Mortgage banking activities--25,496-25,496
Net gain on sale of debt securities--83-83
Other-than-temporary impairment losses on
debt securities--(8,299)-(8,299)
Net gain on equity securities--251-251
Net profit (loss) on trading account debt securities266-(1,110)27(817)
Net loss on sale of loans, including valuation
adjustments on loans held-for-sale--(420)-(420)
Adjustments (expense) to indemnity reserves
on loans sold--(22,377)-(22,377)
FDIC loss-share expense--(10,066)-(10,066)
Other operating income11,84792151,598(26)64,340
Total non-interest income12,113921408,938(2,805)419,167
Operating expenses:
Personnel costs47,561-429,201-476,762
Net occupancy expenses3,876-85,318-89,194
Equipment expenses2,925262,215-65,142
Other taxes217-43,165-43,382
Professional fees11,766(427)281,585(436)292,488
Communications549-21,917-22,466
Business promotion2,014-56,431-58,445
FDIC deposit insurance--26,392-26,392
Other real estate owned (OREO) expenses 42-48,498-48,540
Other operating expenses(70,723)51197,935(2,256)125,007
Amortization of intangibles--9,378-9,378
Total operating expenses(1,773)(374)1,262,035(2,692)1,257,196
Income (loss) before income tax and equity in
earnings of subsidiaries176,751(9,096)376,514(205,658)338,511
Income tax (benefit) expense -(8,382)236,9442,268230,830
Income (loss) before equity in earnings of subsidiaries176,751(714)139,570(207,926)107,681
Equity in undistributed (losses) earnings of subsidiaries(69,070)(153,944)-223,014-
Net income (loss)$107,681$(154,658)$139,570$15,088$107,681
Comprehensive income (loss), net of tax$77,315$(162,195)$108,663$53,532$77,315

Condensed Consolidating Statement of Operations
Year ended December 31, 2016
All other
Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Interest and dividend income:
Dividend income from subsidiaries$102,300$-$-$(102,300)$-
Loans78-1,459,642-1,459,720
Money market investments1,39910116,428(1,500)16,428
Investment securities664322157,439-158,425
Total interest and dividend income104,4414231,633,509(103,800)1,634,573
Interest Expense:
Deposits--129,077(1,500)127,577
Short-term borrowings--7,812-7,812
Long-term debt52,47010,76913,890-77,129
Total interest expense52,47010,769150,779(1,500)212,518
Net interest income (expense)51,971(10,346)1,482,730(102,300)1,422,055
Provision (reversal) for loan losses- non-covered loans(35)-171,161-171,126
Provision (reversal) for loan losses- covered loans--(1,110)-(1,110)
Net interest income (expense)
after provision for loan losses52,006(10,346)1,312,679(102,300)1,252,039
Service charges on deposit accounts--160,836-160,836
Other service fees--237,342(2,572)234,770
Mortgage banking activities--56,538-56,538
Net gain on sale of debt securities--38-38
Othe-than-temporary impairment losses
on debt securities--(209)-(209)
Net gain on equity securities1,767-157-1,924
Net profit (loss) on trading account debt securities90-(831)(44)(785)
Net gain on sale of loans, including valuation
adjustments on loans held-for-sale--8,245-8,245
Adjustments (expense) to indemnity reserves
on loans sold--(17,285)-(17,285)
FDIC loss-share expense--(207,779)-(207,779)
Other operating income (loss)12,352(2,559)51,903(53)61,643
Total non-interest income (loss)14,209(2,559)288,955(2,669)297,936
Operating expenses:
Personnel costs48,032-429,363-477,395
Net occupancy expenses3,630-82,023-85,653
Equipment expenses2,807-59,418-62,225
Other taxes187142,116-42,304
Professional fees10,817122312,517(413)323,043
Communications520-23,377-23,897
Business promotion2,261-50,753-53,014
FDIC deposit insurance--24,512-24,512
Other real estate owned (OREO) expenses 52-47,067-47,119
Other operating expenses(72,514)60175,147(2,165)100,528
Amortization of intangibles--12,144-12,144
Goodwill impairment charge--3,801-3,801
Total operating expenses(4,208)1831,262,238(2,578)1,255,635
Income (loss) before income tax and
equity in earnings of subsidiaries70,423(13,088)339,396(102,391)294,340
Income tax expense (benefit)19(4,581)83,364(18)78,784
Income (loss) before equity in
earnings of subsidiaries70,404(8,507)256,032(102,373)215,556
Equity in undistributed earnings
of subsidiaries145,15241,574-(186,726)-
Income from continuing operations215,556$33,067256,032(289,099)215,556
Income from discontinued operations, net of tax--1,135-1,135
Equity in undistributed earnings of
discontinued operations1,1351,135-(2,270)-
Net Income$216,691$34,202$257,167$(291,369)$216,691
Comprehensive income, net of tax$153,291$20,108$195,118$(215,226)$153,291
Schedule of Condensed Cash Flow Statement [Table Text Block]

Condensed Consolidating Statement of Cash Flows

Year ended December 31, 2018
All other
Popular, Inc.PNAsubsidiariesEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.and eliminationsentriesConsolidated
Cash flows from operating activities:
Net income$618,158$57,204$673,763$(730,967)$618,158
Adjustments to reconcile net income to net
cash provided by (used in) operating activities:
Equity in earnings of subsidiaries,
net of dividends or distributions(208,763)(69,027)-277,790-
Provision (reversal) for loan losses (251)-228,323-228,072
Amortization of intangibles41-9,285-9,326
Depreciation and amortization of premises and
equipment743-52,557-53,300
Net accretion of discounts and amortization
of premiums and deferred fees 2,02227(89,203)-(87,154)
Share-based compensation7,441-3,080-10,521
Impairment losses on long-lived assets--272-272
Fair value adjustments on mortgage servicing rights--8,477-8,477
FDIC loss-share income--(94,725)-(94,725)
Adjustments to indemnity reserves on
loans sold--12,959-12,959
Earnings from investments under the
equity method, net of dividends or distributions(14,333)(737)(9,147)-(24,217)
Deferred income tax expense (benefit)-1,531(13,888)37(12,320)
Loss (gain) on:
Disposition of premises and equipment and other
productive assets22-15,962-15,984
Proceeds from insurance claims--(20,147)-(20,147)
Early extinguishment of debt12,522---12,522
Sale of loans, including valuation adjustments on
loans held for sale and mortgage banking activities--(9,681)-(9,681)
Sale of foreclosed assets, including write-downs--6,833-6,833
Acquisitions of loans held-for-sale--(232,264)-(232,264)
Proceeds from sale of loans held-for-sale--66,687-66,687
Net originations on loans held-for-sale--(254,582)-(254,582)
Net decrease (increase) in:
Trading securities--458,548(101)458,447
Equity securities(1,583)-(39)-(1,622)
Accrued income receivable85(4)49,273(66)49,288
Other assets(506)(83)264,482948264,841
Net (decrease) increase in:
Interest payable(10,288)(1,891)2,32766(9,786)
Pension and other postretirement benefits
obligations--4,558-4,558
Other liabilities8,059(99)(233,160)(1,044)(226,244)
Total adjustments(204,789)(70,283)226,787277,630229,345
Net cash provided by (used in) operating activities413,369(13,079)900,550(453,337)847,503
Cash flows from investing activities:
Net decrease (increase) in money market investments 70,000(12,481)1,083,515(57,519)1,083,515
Purchases of investment securities:
Available-for-sale--(10,050,165)-(10,050,165)
Equity--(13,208)140(13,068)
Proceeds from calls, paydowns, maturities and
redemptions of investment securities:
Available-for-sale--6,946,209-6,946,209
Held-to-maturity-1,6375,643-7,280
Proceeds from sale of investment securities:
Equity--24,209-24,209
Net repayments (disbursements) on loans 536-(7,201)-(6,665)
Proceeds from sale of loans--29,669-29,669
Acquisition of loan portfolios --(601,550)-(601,550)
Net payments (to) from FDIC under loss-sharing
agreements--(25,012)-(25,012)
Payments to acquire businesses, net of cash acquired--(1,843,333)-(1,843,333)
Return of capital from equity method investments-5,963(1,873)-4,090
Capital contribution to subsidiary(87,000)--87,000-
Return of capital from wholly-owned subsidiaries13,000--(13,000)-
Acquisition of premises and equipment(1,099)-(79,450)-(80,549)
Proceeds from insurance claims--20,147-20,147
Proceeds from sale of:
Premises and equipment and other productive assets293-8,892-9,185
Foreclosed assets--105,371-105,371
Net cash used in investing activities(4,270)(4,881)(4,398,137)16,621(4,390,667)
Cash flows from financing activities:
Net increase (decrease) in:
Deposits--4,221,97537,6764,259,651
Assets sold under agreements to repurchase--(109,391)-(109,391)
Other short-term borrowings--(96,167)-(96,167)
Payments of notes payable (448,518)(54,502)(252,946)-(755,966)
Payments of debt extinguishment(12,522)---(12,522)
Proceeds from issuance of notes payable293,819-180,000-473,819
Proceeds from issuance of common stock11,653-(4,385)-7,268
Dividends paid to parent company--(453,200)453,200-
Dividends paid(105,441)---(105,441)
Net payments for repurchase of common stock(125,731)-471(4)(125,264)
Return of capital to parent company--(13,000)13,000-
Capital contribution from parent-72,00015,000(87,000)-
Payments related to tax withholding for
share-based compensation(2,201)---(2,201)
Net cash (used in) provided by financing activities(388,941)17,4983,488,357416,8723,533,786
Net increase (decrease) in cash and due from banks, and restricted cash20,158(462)(9,230)(19,844)(9,378)
Cash and due from banks, and restricted cash at beginning of period48,120462412,225(48,178)412,629
Cash and due from banks, and restricted cash at end of period$68,278$-$402,995$(68,022)$403,251

Condensed Consolidating Statement of Cash Flows

Year ended December 31, 2017
All other
Popular, Inc.PNAsubsidiariesEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.and eliminationsentriesConsolidated
Cash flows from operating activities:
Net income$107,681$(154,658)$139,570$15,088$107,681
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
Equity in earnings of subsidiaries,
net of dividends or distributions69,070153,944-(223,014)-
Provision for loan losses 403-325,021-325,424
Amortization of intangibles--9,378-9,378
Depreciation and amortization of premises and
equipment649-47,715-48,364
Net accretion of discounts and amortization
of premiums and deferred fees 2,08627(24,423)-(22,310)
Impairment losses on long-lived assets--4,784-4,784
Other-than-temporary impairment on debt securities--8,299-8,299
Fair value adjustments on mortgage servicing rights--36,519-36,519
FDIC loss-share expense--10,066-10,066
Adjustments (expense) to indemnity reserves on
loans sold--22,377-22,377
Earnings from investments under the
equity method, net of dividends or distributions(7,765)(921)(9,561)-(18,247)
Deferred income tax (benefit) expense -(8,382)215,864(54)207,428
(Gain) loss on:
Disposition of premises and equipment and
other productive assets(8)-4,289-4,281
Sale and valuation adjustments of debt
securities --(83)-(83)
Sale of loans, including valuation adjustments on
loans held for sale and mortgage banking activities--(16,670)-(16,670)
Sale of foreclosed assets, including write-downs42-21,673-21,715
Acquisitions of loans held-for-sale--(244,385)-(244,385)
Proceeds from sale of loans held-for-sale--69,464-69,464
Net originations on loans held-for-sale--(315,522)-(315,522)
Net decrease (increase) in:
Trading debt securities--503,108-503,108
Equity securities(1,346)-108(31)(1,269)
Accrued income receivable(748)26(75,201)121(75,802)
Other assets8,761-(76,727)2,122(65,844)
Net increase (decrease) in:
Interest payable--2,670(121)2,549
Pension and other postretirement benefits
obligations--(13,100)-(13,100)
Other liabilities3,230(758)25,46634128,279
Total adjustments74,374143,936531,129(220,636)528,803
Net cash provided by (used in) operating activities182,055(10,722)670,699(205,548)636,484
Cash flows from investing activities:
Net decrease (increase) in money market investments 6,00010,455(2,365,132)(18,255)(2,366,932)
Purchases of investment securities:
Available-for-sale--(4,139,650)-(4,139,650)
Equity--(29,672)-(29,672)
Proceeds from calls, paydowns, maturities and
redemptions of investment securities:
Available-for-sale--2,023,295-2,023,295
Held-to-maturity--6,232-6,232
Proceeds from sale of investment securities:
Available for sale--14,423-14,423
Equity--30,250-30,250
Net repayments (disbursements) on loans 181-(398,857)-(398,676)
Proceeds from sale of loans--38,279(37,864)415
Acquisition of loan portfolios (31,909)-(541,489)37,864(535,534)
Acquisition of trademark(5,560)-5,560--
Net payments (to) from FDIC under loss-sharing
agreements--(7,679)-(7,679)
Return of capital from equity method investments-1388,056-8,194
Capital contribution to subsidiary(5,955)-5,955--
Return of capital from wholly-owned subsidiaries22,40010,400-(32,800)-
Acquisition of premises and equipment(965)-(61,732)-(62,697)
Proceeds from sale of:
Premises and equipment and other productive assets23-9,730-9,753
Foreclosed assets38-96,502-96,540
Net cash (used in) provided by investing activities(15,747)20,993(5,305,929)(51,055)(5,351,738)
Cash flows from financing activities:
Net increase (decrease) in:
Deposits--4,935,94818,1574,954,105
Assets sold under agreements to repurchase--(88,505)-(88,505)
Other short-term borrowings--95,008-95,008
Payments of notes payable --(95,607)-(95,607)
Proceeds from issuance of notes payable--55,000-55,000
Proceeds from issuance of common stock7,016---7,016
Dividends paid to parent company--(211,500)211,500-
Dividends paid(95,910)---(95,910)
Net payments for repurchase of common stock(75,668)--4(75,664)
Return of capital to parent company-(10,400)(22,400)32,800-
Capital contribution from parent--5,955(5,955)-
Payments related to tax withholding for
share-based compensation(1,756)---(1,756)
Net cash (used in) provided by financing activities(166,318)(10,400)4,673,899256,5064,753,687
Net (decrease) increase in cash and due from banks,
and restricted cash(10)(129)38,669(97)38,433
Cash and due from banks, and restricted cash at beginning
of period48,130591373,556(48,081)374,196
Cash and due from banks, and restricted cash
at end of period$48,120$462$412,225$(48,178)$412,629

Condensed Consolidating Statement of Cash Flows

Year ended December 31, 2016
All other
Popular, Inc.PNAsubsidiariesEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.and eliminationsentriesConsolidated
Cash flows from operating activities:
Net income$216,691$34,202$257,167$(291,369)$216,691
Adjustments to reconcile net income to net
cash provided by (used in) operating activities:
Equity in undistributed losses of subsidiaries,
net of dividends or distributions(146,287)(42,709)-188,996-
Provision (reversal) for loan losses (35)-170,051-170,016
Goodwill impairment losses--3,801-3,801
Amortization of intangibles--12,144-12,144
Depreciation and amortization of premises and
equipment654-46,220-46,874
Net accretion of discounts and amortization
of premiums and deferred fees 2,08728(42,901)-(40,786)
Other-than-temporary impairment on debt securities--209-209
Fair value adjustments on mortgage servicing rights--25,336-25,336
FDIC loss share expense--207,779-207,779
Adjustments (expense) to indemnity reserves on
loans sold--17,285-17,285
(Earnings) losses from investments under the
equity method, net of dividends or distributions(7,572)2,559(9,392)-(14,405)
Deferred income tax expense (benefit)19(4,581)66,154(18)61,574
(Gain) loss on:
Disposition of premises and equipment
and other productive assets(2)-4,096-4,094
Sale and valuation adjustments of debt securities--(39)-(39)
Sale of loans, including valuation adjustments on
loans held for sale and mortgage banking activities--(35,517)-(35,517)
Sale of foreclosed assets, including write-downs52-19,305-19,357
Acquisitions of loans held-for-sale--(310,217)-(310,217)
Proceeds from sale of loans held-for-sale--89,887-89,887
Net originations on loans held-for-sale--(510,783)-(510,783)
Net decrease (increase) in:
Trading debt securities--754,478-754,478
Equity securities(524)-8,8781338,487
Accrued income receivable(27)(23)(13,812)54(13,808)
Other assets(867)(3)(43,288)(2,972)(47,130)
Net increase (decrease) in:
Interest payable--219(54)165
Pension and other postretirement benefits
obligations--(55,678)-(55,678)
Other liabilities(3,854)(624)(11,781)3,018(13,241)
Total adjustments(156,356)(45,353)392,434189,157379,882
Net cash provided by (used in) operating activities60,335(11,151)649,601(102,212)596,573
Cash flows from investing activities:
Net increase (decrease) in money market investments 10,00810,668(715,346)(18,868)(713,538)
Purchases of investment securities:
Available-for-sale--(3,407,779)-(3,407,779)
Equity--(14,130)-(14,130)
Proceeds from calls, paydowns, maturities and
redemptions of investment securities:
Available-for-sale--1,227,966-1,227,966
Held-to-maturity--4,588-4,588
Equity--9,539-9,539
Proceeds from sale of investment securities:
Available-for-sale--4,815-4,815
Net repayments (disbursements) on loans 35-(267,240)-(267,205)
Proceeds from sale of loans--141,363-141,363
Acquisition of loan portfolios --(535,445)-(535,445)
Net payments (to) from FDIC under loss-sharing
agreements--98,518-98,518
Return of capital from equity method investments3154744,059-4,848
Return of capital from wholly-owned subsidiaries14,000--(14,000)-
Acquisition of premises and equipment(953)-(99,367)-(100,320)
Proceeds from sale of:
Premises and equipment and other productive assets56-8,841-8,897
Foreclosed assets434-82,923-83,357
Net cash provided by (used in) investing activities23,89511,142(3,456,695)(32,868)(3,454,526)
Cash flows from financing activities:
Net increase (decrease) in:
Deposits--3,290,797(4,369)3,286,428
Assets sold under agreements to repurchase--(282,719)-(282,719)
Payments of notes payable --(254,816)-(254,816)
Proceeds from issuance of notes payable--165,047-165,047
Proceeds from issuance of common stock7,437---7,437
Dividends paid to parent company--(102,300)102,300-
Dividends paid(65,932)---(65,932)
Net payments for repurchase of common stock(475)--(88)(563)
Return of capital to parent company--(14,000)14,000-
Payments related to tax withholding for
share-based compensation(1,623)---(1,623)
Net cash (used in) provided by financing activities(60,593)-2,802,009111,8432,853,259
Net increase (decrease) in cash and due from banks,
and restricted cash23,637(9)(5,085)(23,237)(4,694)
Cash and due from banks, and restricted cash at beginning
of period24,493600378,641(24,844)378,890
Cash and due from banks, and restricted cash at end of period$48,130$591$373,556$(48,081)$374,196
The Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2016 includes the cash flows from operating, investing and financing activities associated with discontinued operations.
Popular, Inc. Holding Co.  
Schedule of Condensed Balance Sheet [Table Text Block]
Condensed Statements of Condition
December 31,
(In thousands)20182017
ASSETS
Cash and due from banks (includes $68,022 due from bank subsidiary (2017 - $47,663))$68,022$47,663
Money market investments176,256246,457
Debt securities held-to-maturity, at amortized cost (includes $8,726 in common
securities from statutory trusts (2017 - $8,726))8,7268,726
Equity securities, at lower of cost or realizable value[1]6,6935,109
Investment in BPPR and subsidiaries, at equity3,813,6403,727,383
Investment in Popular North America and subsidiaries, at equity1,648,5771,534,640
Investment in other non-bank subsidiaries, at equity241,902232,387
Other loans 32,67833,221
Less - Allowance for loan losses155266
Premises and equipment3,3943,365
Investment in equity method investees62,78149,777
Other assets (includes $1,355 due from subsidiaries and affiliate (2017 - $1,096))20,28118,025
Total assets $6,082,795$5,906,487
LIABILITIES AND STOCKHOLDERS' EQUITY
Notes payable$584,851$737,685
Other liabilities (includes $3,110 due to subsidiaries and affiliate (2017 - $2,033))62,79964,813
Stockholders’ equity5,435,1455,103,989
Total liabilities and stockholders’ equity $6,082,795$5,906,487
[1] Refer to Note 20 to the consolidated financial statements for information on the statutory trusts.

Condensed Statements of Condition
December 31,
(In thousands)20182017
ASSETS
Cash and due from banks (includes $68,022 due from bank subsidiary (2017 - $47,663))$68,022$47,663
Money market investments176,256246,457
Debt securities held-to-maturity, at amortized cost (includes $8,726 in common
securities from statutory trusts (2017 - $8,726))8,7268,726
Equity securities, at lower of cost or realizable value[1]6,6935,109
Investment in BPPR and subsidiaries, at equity3,813,6403,727,383
Investment in Popular North America and subsidiaries, at equity1,648,5771,534,640
Investment in other non-bank subsidiaries, at equity241,902232,387
Other loans 32,67833,221
Less - Allowance for loan losses155266
Premises and equipment3,3943,365
Investment in equity method investees62,78149,777
Other assets (includes $1,355 due from subsidiaries and affiliate (2017 - $1,096))20,28118,025
Total assets $6,082,795$5,906,487
LIABILITIES AND STOCKHOLDERS' EQUITY
Notes payable$584,851$737,685
Other liabilities (includes $3,110 due to subsidiaries and affiliate (2017 - $2,033))62,79964,813
Stockholders’ equity5,435,1455,103,989
Total liabilities and stockholders’ equity $6,082,795$5,906,487
[1] Refer to Note 20 to the consolidated financial statements for information on the statutory trusts.
Schedule of Condensed Income Statement [Table Text Block]
Condensed Statements of Operations
Years ended December 31,
(In thousands)201820172016
Income:
Dividends from subsidiaries$453,200$211,500$102,300
Interest income (includes $6,121 due from subsidiaries and affiliates (2017 - $3,183;
2016 - $1,965))8,3664,2382,141
Earnings from investments in equity method investees15,49811,76112,352
Other operating income25386-
Net (loss) gain, including impairment, on equity securities(777)-1,767
Net gain on trading account debt securities-26690
Total income 476,540227,851118,650
Expenses:
Interest expense51,21852,47052,470
Provision (reversal) for loan losses(251)403(35)
Loss on early extinguishment of debt12,522--
Operating expenses (includes expenses for services provided by subsidiaries and affiliate
of $10,511 (2017 - $8,225 ; 2016 - $8,160)), net of reimbursement by subsidiaries for
services provided by parent of $90,807 (2017 - $76,720 ; 2016 - $74,573)3,656(1,773)(4,208)
Total expenses67,14551,10048,227
Income before income taxes and equity in undistributed
earnings of subsidiaries409,395176,75170,423
Income tax expense--19
Income before equity in undistributed earnings of subsidiaries409,395176,75170,404
Equity in undistributed earnings (losses) of subsidiaries208,763(69,070)145,152
Income from continuing operations618,158107,681215,556
Equity in undistributed earnings of discontinued operations--1,135
Net income$618,158$107,681$216,691
Comprehensive income, net of tax$540,836$77,315$153,291
Schedule of Condensed Cash Flow Statement [Table Text Block]
Condensed Statements of Cash Flows
Years ended December 31,
(In thousands)201820172016
Cash flows from operating activities:
Net income$618,158$107,681$216,691
Adjustments to reconcile net income to net cash provided by
operating activities:
Equity in (earnings) losses of subsidiaries,
net of dividends or distributions(208,763)69,070(146,287)
Provision (reversal) for loan losses(251)403(35)
Amortization of intangibles41--
Net accretion of discounts and amortization of premiums and deferred fees 2,0222,0862,087
Share-based compensation7,441--
Earnings from investments under the equity method, net of dividends or distributions(14,333)(7,765)(7,572)
Deferred income tax expense --19
Loss on early extinguishment of debt12,522--
Net (increase) decrease in:
Equity securities(1,583)(1,346)(524)
Other assets3448,696(190)
Net (decrease) increase in:
Interest payable(10,288)--
Other liabilities8,0593,230(3,854)
Total adjustments(204,789)74,374(156,356)
Net cash provided by operating activities413,369182,05560,335
Cash flows from investing activities:
Net decrease in money market investments70,0006,00010,008
Capital contribution to subsidiaries(87,000)(5,955)-
Net repayments on other loans53618135
Return of capital from equity method investments--315
Return of capital from wholly owned subsidiaries13,00022,40014,000
Acquisition of loans portfolio-(31,909)-
Acquisition of trademark-(5,560)-
Acquisition of premises and equipment(1,099)(965)(953)
Proceeds from sale of:
Premises and equipment2932356
Foreclosed assets-38434
Net cash (used in) provided by investing activities(4,270)(15,747)23,895
Cash flows from financing activities:
Payments of notes payable(448,518)--
Payments of debt extinguishment(12,522)--
Proceeds from issuance of notes payable293,819--
Proceeds from issuance of common stock11,6537,0167,437
Dividends paid(105,441)(95,910)(65,932)
Net payments for repurchase of common stock(125,731)(75,668)(475)
Payments related to tax withholding for
share-based compensation(2,201)(1,756)(1,623)
Net cash used in financing activities(388,941)(166,318)(60,593)
Net increase (decrease) in cash and due from banks, and restricted cash 20,158(10)23,637
Cash and due from banks, and restricted cash at beginning of period48,12048,13024,493
Cash and due from banks, and restricted cash at end of period$68,278$48,120$48,130
Maturity Distribution Of Debt Securities [Text Block]
Year(In thousands)
2019$-
2020-
2021-
2022-
2023294,039
Later years290,812
No stated maturity-
Total $584,851