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Loans (Tables) | 9 Months Ended
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Sep. 30, 2020
Accounts, Notes, Loans and Financing Receivable |
Purchased Financial Assets With Credit Deterioration | Purchased Credit Deteriorated Loans (PCD) The Corporation has purchased loans during the quarter and nine months ended, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans is as follows:
(In thousands) |  | For the quarter ended September 30, 2020 |  | For the nine months ended September 30, 2020
Purchase price of loans at acquisition | $ | 132,738 | $ | 137,477
Allowance for credit losses at acquisition |  | 4,823 |  | 5,819
Non-credit discount/premium at acquisition |  | (6,485) |  | (6,273)
Par value of acquired loans at acquisition | $ | 131,076 | $ | 137,023
ASC Subtopic 310-30 |
Accounts, Notes, Loans and Financing Receivable |
Disclosure of carrying amount of loans acquired |
Carrying amount
(In thousands) |  | December 31, 2019
Commercial real estate | $ | 670,566
Commercial and industrial |  | 104,756
Mortgage |  | 856,618
Consumer |  | 11,778
Carrying amount |  | 1,643,718
Allowance for loan losses |  | (74,039)
Carrying amount, net of allowance | $ | 1,569,679
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period | Changes in the carrying amount and the accretable yield for the loans accounted pursuant to the ASC Subtopic 310-30, for the quarter and nine months ended September 30, 2019, were as follows:
Carrying amount of acquired loans accounted for pursuant to ASC 310-30
(In thousands) |  | For the quarter ended September 30, 2019 |  |  | For the nine months ended September 30, 2019
Beginning balance | $ | 1,789,237 |  | $ | 1,883,556
Additions |  | 11,891 |  |  | 27,639
Accretion |  | 35,502 |  |  | 111,083
Collections / loan sales / charge-offs |  | (134,256) |  |  | (319,904)
Ending balance[1] | $ | 1,702,374 |  | $ | 1,702,374
Allowance for loan losses |  | (94,610) |  |  | (94,610)
Ending balance, net of ALLL | $ | 1,607,764 |  | $ | 1,607,764
[1] | At September 30, 2019, includes $1.2 billion of loans considered non-credit impaired at the acquisition date.
Accretable Yield For Acquired Loans |
Activity in the accretable yield of acquired loans accounted for pursuant to ASC 310-30
(In thousands) |  | For the quarter ended September 30, 2019 |  |  | For the nine months ended September 30, 2019
Beginning balance | $ | 1,042,407 |  | $ | 1,092,504
Additions |  | 7,711 |  |  | 19,577
Accretion |  | (35,502) |  |  | (111,083)
Change in expected cash flows |  | 5,043 |  |  | 18,661
Ending balance[1] | $ | 1,019,659 |  | $ | 1,019,659
[1] | At September 30, 2019, includes $ 0.7 billion of loans considered non-credit impaired at the acquisition date.
Loans Held in Portfolio |
Accounts, Notes, Loans and Financing Receivable |
Past due financing receivables |
September 30, 2020 |
Puerto Rico |
|  |  |  | Past due |  |  |  |  |  |  |  | Past due 90 days or more |
|  |  | 30-59 |  | 60-89 |  | 90 days | Total |  |  |  |  |  |  | Non-accrual |  |  | Accruing |
(In thousands) |  | days |  | days |  | or more[1] | past due |  | Current |  | Loans HIP |  |  | loans |  | loans |
Commercial multi-family |  | $ | 3,480 |  | $ | 129 |  | $ | 1,400 | $ | 5,009 |  | $ | 139,169 |  | $ | 144,178 |  |  | $ | 1,400 |  | $ | - |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-owner occupied |  |  | 19,523 |  |  | 2,014 |  |  | 98,811 |  | 120,348 |  |  | 1,950,794 |  |  | 2,071,142 |  |  |  | 98,811 |  |  | - |
| Owner occupied |  |  | 10,187 |  |  | 4,223 |  |  | 97,453 |  | 111,863 |  |  | 1,458,412 |  |  | 1,570,275 |  |  |  | 97,453 |  |  | - |
Commercial and industrial |  |  | 6,809 |  |  | 6,376 |  |  | 45,013 |  | 58,198 |  |  | 4,233,554 |  |  | 4,291,752 |  |  |  | 44,320 |  |  | 693 |
Construction |  |  | 4,895 |  |  | - |  |  | 21,514 |  | 26,409 |  |  | 169,656 |  |  | 196,065 |  |  |  | 21,514 |  |  | - |
Mortgage |  |  | 336,824 |  |  | 59,386 |  |  | 1,567,504 |  | 1,963,714 |  |  | 4,863,266 |  |  | 6,826,980 |  |  |  | 370,060 |  |  | 1,197,444 | [2]
Leasing |  |  | 8,254 |  |  | 2,450 |  |  | 3,217 |  | 13,921 |  |  | 1,139,187 |  |  | 1,153,108 |  |  |  | 3,217 |  |  | - |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Credit cards |  |  | 6,125 |  |  | 6,305 |  |  | 14,505 |  | 26,935 |  |  | 904,604 |  |  | 931,539 |  |  |  | - |  |  | 14,505 |
| Home equity lines of credit |  |  | 181 |  |  | - |  |  | 58 |  | 239 |  |  | 4,075 |  |  | 4,314 |  |  |  | - |  |  | 58 |
| Personal |  |  | 13,166 |  |  | 7,569 |  |  | 29,343 |  | 50,078 |  |  | 1,255,707 |  |  | 1,305,785 |  |  |  | 29,343 |  |  | - |
| Auto |  |  | 39,887 |  |  | 10,377 |  |  | 13,454 |  | 63,718 |  |  | 2,981,735 |  |  | 3,045,453 |  |  |  | 13,454 |  |  | - |
| Other |  |  | 190 |  |  | 1,224 |  |  | 14,348 |  | 15,762 |  |  | 108,290 |  |  | 124,052 |  |  |  | 14,104 |  |  | 244 |
Total |  | $ | 449,521 |  | $ | 100,053 |  | $ | 1,906,620 | $ | 2,456,194 |  | $ | 19,208,449 |  | $ | 21,664,643 |  |  | $ | 693,676 |  | $ | 1,212,944 |
[1] | Loans included as 90 days or more past due include loans that that are not delinquent in their payment terms but that are reported as non-performing due to other credit quality considerations. As part of the adoption of CECL, at January 1, 2020, the Corporation reclassified to this category $134 million of acquired loans with credit deterioration that were previously accounted for under ASC 310-30 and were excluded from non-performing status. In addition, as part of the CECL transition, an additional $125 million of loans that were 90 days or more past due previously accounted for under ASC 310-30 and excluded from non-performing status are now included as non-performing. |
[2] | It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. These include $161 million in loans rebooked under the GNMA program at September 30, 2020, in which issuers such as BPPR have the option but not the obligation to repurchase loans that are 90 days or more past due. During the third quarter the Corporation purchased $688 million in GNMA loans of which $684 million are included in the 90 days past due category including $324 million previously accounted under the repurchase option at June 30, 2020. |
September 30, 2020
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 |  | $ | - |  | $ | - |  | $ | 1,755 |  | $ | 1,755 |  | $ | 1,734,982 |  | $ | 1,736,737 |  |  | $ | 1,755 |  | $ | -
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-owner occupied |  |  | - |  |  | - |  |  | 396 |  |  | 396 |  |  | 1,938,617 |  |  | 1,939,013 |  |  |  | 396 |  |  | -
| Owner occupied |  |  | 653 |  |  | - |  |  | 342 |  |  | 995 |  |  | 360,131 |  |  | 361,126 |  |  |  | 342 |  |  | -
Commercial and industrial |  |  | 552 |  |  | 50 |  |  | 3,901 |  |  | 4,503 |  |  | 1,492,648 |  |  | 1,497,151 |  |  |  | 3,901 |  |  | -
Construction |  |  | - |  |  | - |  |  | 9,069 |  |  | 9,069 |  |  | 731,140 |  |  | 740,209 |  |  |  | 9,069 |  |  | -
Mortgage |  |  | 2,467 |  |  | 6,433 |  |  | 14,484 |  |  | 23,384 |  |  | 1,074,077 |  |  | 1,097,461 |  |  |  | 14,484 |  |  | -
Legacy |  |  | 41 |  |  | 16 |  |  | 1,360 |  |  | 1,417 |  |  | 14,751 |  |  | 16,168 |  |  |  | 1,360 |  |  | -
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Credit cards |  |  | - |  |  | 3 |  |  | 3 |  |  | 6 |  |  | 25 |  |  | 31 |  |  |  | - |  |  | 3
| Home equity lines of credit |  |  | 1,257 |  |  | 351 |  |  | 7,586 |  |  | 9,194 |  |  | 95,715 |  |  | 104,909 |  |  |  | 7,586 |  |  | -
| Personal |  |  | 1,641 |  |  | 1,597 |  |  | 1,770 |  |  | 5,008 |  |  | 228,754 |  |  | 233,762 |  |  |  | 1,770 |  |  | -
| Other |  |  | 22 |  |  | 2 |  |  | 29 |  |  | 53 |  |  | 1,247 |  |  | 1,300 |  |  |  | 29 |  |  | -
Total |  | $ | 6,633 |  | $ | 8,452 |  | $ | 40,695 |  | $ | 55,780 |  | $ | 7,672,087 |  | $ | 7,727,867 |  |  | $ | 40,692 |  | $ | 3
September 30, 2020 |
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[3] | past due |  | Current |  | Loans HIP[4] [5] |  |  | loans |  | loans |
Commercial multi-family | $ | 3,480 |  | $ | 129 |  | $ | 3,155 | $ | 6,764 |  | $ | 1,874,151 |  | $ | 1,880,915 |  |  | $ | 3,155 |  | $ | - |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-owner occupied |  | 19,523 |  |  | 2,014 |  |  | 99,207 |  | 120,744 |  |  | 3,889,411 |  |  | 4,010,155 |  |  |  | 99,207 |  |  | - |
| Owner occupied |  | 10,840 |  |  | 4,223 |  |  | 97,795 |  | 112,858 |  |  | 1,818,543 |  |  | 1,931,401 |  |  |  | 97,795 |  |  | - |
Commercial and industrial |  | 7,361 |  |  | 6,426 |  |  | 48,914 |  | 62,701 |  |  | 5,726,202 |  |  | 5,788,903 |  |  |  | 48,221 |  |  | 693 |
Construction |  | 4,895 |  |  | - |  |  | 30,583 |  | 35,478 |  |  | 900,796 |  |  | 936,274 |  |  |  | 30,583 |  |  | - |
Mortgage[1] |  | 339,291 |  |  | 65,819 |  |  | 1,581,988 |  | 1,987,098 |  |  | 5,937,343 |  |  | 7,924,441 |  |  |  | 384,544 |  |  | 1,197,444 | [6]
Leasing |  | 8,254 |  |  | 2,450 |  |  | 3,217 |  | 13,921 |  |  | 1,139,187 |  |  | 1,153,108 |  |  |  | 3,217 |  |  | - |
Legacy[2] |  | 41 |  |  | 16 |  |  | 1,360 |  | 1,417 |  |  | 14,751 |  |  | 16,168 |  |  |  | 1,360 |  |  | - |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Credit cards |  | 6,125 |  |  | 6,308 |  |  | 14,508 |  | 26,941 |  |  | 904,629 |  |  | 931,570 |  |  |  | - |  |  | 14,508 |
| Home equity lines of credit |  | 1,438 |  |  | 351 |  |  | 7,644 |  | 9,433 |  |  | 99,790 |  |  | 109,223 |  |  |  | 7,586 |  |  | 58 |
| Personal |  | 14,807 |  |  | 9,166 |  |  | 31,113 |  | 55,086 |  |  | 1,484,461 |  |  | 1,539,547 |  |  |  | 31,113 |  |  | - |
| Auto |  | 39,887 |  |  | 10,377 |  |  | 13,454 |  | 63,718 |  |  | 2,981,735 |  |  | 3,045,453 |  |  |  | 13,454 |  |  | - |
| Other |  | 212 |  |  | 1,226 |  |  | 14,377 |  | 15,815 |  |  | 109,537 |  |  | 125,352 |  |  |  | 14,133 |  |  | 244 |
Total | $ | 456,154 |  | $ | 108,505 |  | $ | 1,947,315 | $ | 2,511,974 |  | $ | 26,880,536 |  | $ | 29,392,510 |  |  | $ | 734,368 |  | $ | 1,212,947 |
[1] | It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured.
[2] | The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the Popular U.S. segment.
[3] | Loans included as 90 days or more past due include loans that that are not delinquent in their payment terms but that are reported as non-performing due to other credit quality considerations. As part of the adoption of CECL, at January 1, 2020, the Corporation reclassified to this category $134 million of acquired loans with credit deterioration that were previously accounted for under ASC 310-30 and were excluded from non-performing status. In addition, as part of the CECL transition, an additional $144 million of loans that were 90 days or more past due previously accounted for under ASC 310-30 and excluded from non-performing status are now included as non-performing.
[4] | Loans held-in-portfolio are net of $ 194 million in unearned income and exclude $ 103 million in loans held-for-sale.
[5] | Includes $6.8 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.2 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings and $2.6 billion at the Federal Reserve Bank ("FRB") for discount window borrowings.
[6] | It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. During the third quarter the Corporation purchased $688 million in GNMA loans of which $684 are included in the 90 days past due category including $324 million previously accounted under the repurchase option at June 30, 2020.These include loans rebooked, which were previously pooled into GNMA securities amounting to $161 million. Under the GNMA program, issuers such as BPPR have the option but not the obligation to repurchase loans that are 90 days or more past due. For accounting purposes, these loans subject to the repurchase option are required to be reflected (rebooked)on the financial statements of BPPR with an offsetting liability. Loans in our serviced GNMA portfolio benefit from payment forbearance programs but continue to reflect the contractual delinquency until the borrower repays deferred payments or completes a payment deferral modification or other borrower assistance alternative.
December 31, 2019
Puerto Rico
|  |  |  | 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[1]
Commercial multi-family |  | $ | 2,941 |  | $ | 129 |  | $ | 1,512 |  | $ | 4,582 |  | $ | 143,267 |  | $ | 147,849 |  |  | $ | 1,473 |  | $ | -
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-owner occupied |  |  | 10,439 |  |  | 5,244 |  |  | 43,664 |  |  | 59,347 |  |  | 2,048,871 |  |  | 2,108,218 |  |  |  | 39,968 |  |  | -
| Owner occupied |  |  | 5,704 |  |  | 3,978 |  |  | 84,537 |  |  | 94,219 |  |  | 1,492,110 |  |  | 1,586,329 |  |  |  | 69,276 |  |  | -
Commercial and industrial |  |  | 8,780 |  |  | 1,646 |  |  | 37,156 |  |  | 47,582 |  |  | 3,371,152 |  |  | 3,418,734 |  |  |  | 36,538 |  |  | 544
Construction |  |  | 1,555 |  |  | - |  |  | 119 |  |  | 1,674 |  |  | 135,796 |  |  | 137,470 |  |  |  | 119 |  |  | -
Mortgage |  |  | 285,006 |  |  | 146,197 |  |  | 837,651 |  |  | 1,268,854 |  |  | 4,897,894 |  |  | 6,166,748 |  |  |  | 283,708 |  |  | 439,662
Leasing |  |  | 12,014 |  |  | 3,053 |  |  | 3,657 |  |  | 18,724 |  |  | 1,040,783 |  |  | 1,059,507 |  |  |  | 3,657 |  |  | -
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Credit cards |  |  | 11,358 |  |  | 7,928 |  |  | 19,461 |  |  | 38,747 |  |  | 1,085,053 |  |  | 1,123,800 |  |  |  | - |  |  | 19,461
| Home equity lines of credit |  |  | - |  |  | 85 |  |  | - |  |  | 85 |  |  | 4,953 |  |  | 5,038 |  |  |  | - |  |  | -
| Personal |  |  | 13,481 |  |  | 9,352 |  |  | 20,296 |  |  | 43,129 |  |  | 1,325,021 |  |  | 1,368,150 |  |  |  | 19,529 |  |  | 61
| Auto |  |  | 81,169 |  |  | 23,182 |  |  | 31,148 |  |  | 135,499 |  |  | 2,782,023 |  |  | 2,917,522 |  |  |  | 31,148 |  |  | -
| Other |  |  | 358 |  |  | 1,418 |  |  | 14,189 |  |  | 15,965 |  |  | 124,902 |  |  | 140,867 |  |  |  | 13,784 |  |  | 405
Total |  | $ | 432,805 |  | $ | 202,212 |  | $ | 1,093,390 |  | $ | 1,728,407 |  | $ | 18,451,825 |  | $ | 20,180,232 |  |  | $ | 499,200 |  | $ | 460,133
[1] | Loans HIP of $134 million accounted for under ASC Subtopic 310-30 are excluded from the above table as they are considered to be performing due to the application of the accretion method, in which these loans would accrete interest income over the remaining life of the loans using estimated cash flow analysis.
December 31, 2019
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[1]
Commercial multi-family |  | $ | 9 |  | $ | - |  | $ | 2,097 |  | $ | 2,106 |  | $ | 1,645,204 |  | $ | 1,647,310 |  |  | $ | 2,097 |  | $ | -
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-owner occupied |  |  | 1,047 |  |  | - |  |  | 281 |  |  | 1,328 |  |  | 1,868,968 |  |  | 1,870,296 |  |  |  | 281 |  |  | -
| Owner occupied |  |  | 1,750 |  |  | - |  |  | 251 |  |  | 2,001 |  |  | 337,134 |  |  | 339,135 |  |  |  | 251 |  |  | -
Commercial and industrial |  |  | 454 |  |  | 128 |  |  | 19,945 |  |  | 20,527 |  |  | 1,174,353 |  |  | 1,194,880 |  |  |  | 876 |  |  | -
Construction |  |  | - |  |  | - |  |  | 26 |  |  | 26 |  |  | 693,596 |  |  | 693,622 |  |  |  | 26 |  |  | -
Mortgage |  |  | 15,474 |  |  | 4,024 |  |  | 11,091 |  |  | 30,589 |  |  | 986,195 |  |  | 1,016,784 |  |  |  | 11,091 |  |  | -
Legacy |  |  | 49 |  |  | 8 |  |  | 1,999 |  |  | 2,056 |  |  | 20,049 |  |  | 22,105 |  |  |  | 1,999 |  |  | -
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Credit cards |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 36 |  |  | 36 |  |  |  | - |  |  | -
| Home equity lines of credit |  |  | 404 |  |  | 267 |  |  | 9,954 |  |  | 10,625 |  |  | 106,718 |  |  | 117,343 |  |  |  | 9,954 |  |  | -
| Personal |  |  | 2,286 |  |  | 1,582 |  |  | 2,066 |  |  | 5,934 |  |  | 318,506 |  |  | 324,440 |  |  |  | 2,066 |  |  | -
| Other |  |  | 3 |  |  | - |  |  | - |  |  | 3 |  |  | 687 |  |  | 690 |  |  |  | - |  |  | -
Total |  | $ | 21,476 |  | $ | 6,009 |  | $ | 47,710 |  | $ | 75,195 |  | $ | 7,151,446 |  | $ | 7,226,641 |  |  | $ | 28,641 |  | $ | -
[1] | Loans HIP of $ 19 million accounted for under ASC Subtopic 310-30 are excluded from the above table as they are considered to be performing due to the application of the accretion method, in which these loans would accrete interest income over the remaining life of the loans using estimated cash flow analysis.
December 31, 2019
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[3] [4] |  |  | loans |  | loans[5]
Commercial multi-family | $ | 2,950 |  | $ | 129 |  | $ | 3,609 |  | $ | 6,688 |  | $ | 1,788,471 |  | $ | 1,795,159 |  |  | $ | 3,570 |  | $ | -
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-owner occupied |  | 11,486 |  |  | 5,244 |  |  | 43,945 |  |  | 60,675 |  |  | 3,917,839 |  |  | 3,978,514 |  |  |  | 40,249 |  |  | -
| Owner occupied |  | 7,454 |  |  | 3,978 |  |  | 84,788 |  |  | 96,220 |  |  | 1,829,244 |  |  | 1,925,464 |  |  |  | 69,527 |  |  | -
Commercial and industrial |  | 9,234 |  |  | 1,774 |  |  | 57,101 |  |  | 68,109 |  |  | 4,545,505 |  |  | 4,613,614 |  |  |  | 37,414 |  |  | 544
Construction |  | 1,555 |  |  | - |  |  | 145 |  |  | 1,700 |  |  | 829,392 |  |  | 831,092 |  |  |  | 145 |  |  | -
Mortgage[1] |  | 300,480 |  |  | 150,221 |  |  | 848,742 |  |  | 1,299,443 |  |  | 5,884,089 |  |  | 7,183,532 |  |  |  | 294,799 |  |  | 439,662
Leasing |  | 12,014 |  |  | 3,053 |  |  | 3,657 |  |  | 18,724 |  |  | 1,040,783 |  |  | 1,059,507 |  |  |  | 3,657 |  |  | -
Legacy[2] |  | 49 |  |  | 8 |  |  | 1,999 |  |  | 2,056 |  |  | 20,049 |  |  | 22,105 |  |  |  | 1,999 |  |  | -
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Credit cards |  | 11,358 |  |  | 7,928 |  |  | 19,461 |  |  | 38,747 |  |  | 1,085,089 |  |  | 1,123,836 |  |  |  | - |  |  | 19,461
| Home equity lines of credit |  | 404 |  |  | 352 |  |  | 9,954 |  |  | 10,710 |  |  | 111,671 |  |  | 122,381 |  |  |  | 9,954 |  |  | -
| Personal |  | 15,767 |  |  | 10,934 |  |  | 22,362 |  |  | 49,063 |  |  | 1,643,527 |  |  | 1,692,590 |  |  |  | 21,595 |  |  | 61
| Auto |  | 81,169 |  |  | 23,182 |  |  | 31,148 |  |  | 135,499 |  |  | 2,782,023 |  |  | 2,917,522 |  |  |  | 31,148 |  |  | -
| Other |  | 361 |  |  | 1,418 |  |  | 14,189 |  |  | 15,968 |  |  | 125,589 |  |  | 141,557 |  |  |  | 13,784 |  |  | 405
Total | $ | 454,281 |  | $ | 208,221 |  | $ | 1,141,100 |  | $ | 1,803,602 |  | $ | 25,603,271 |  | $ | 27,406,873 |  |  | $ | 527,841 |  | $ | 460,133
[1] | It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured.
[2] | The legacy portfolio is comprised of commercial loans, construction loans and lease financings related to certain lending products exited by the Corporation as part of restructuring efforts carried out in prior years at the Popular U.S. segment.
[3] | Loans held-in-portfolio are net of $ 181 million in unearned income and exclude $ 59 million in loans held-for-sale.
[4] | Includes $6.7 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.6 billion were pledged at the FHLB as collateral for borrowings and $2.1 billion at the FRB for discount window borrowings.
[5] | Loans HIP of $153 million accounted for under ASC Subtopic 310-30 are excluded from the above table as they are considered to be performing due to the application of the accretion method, in which these loans would accrete interest income over the remaining life of the loans using estimated cash flow analysis.
Financing receivable non accrual status |
September 30, 2020
| Puerto Rico |  | Popular U.S. |  | Popular, Inc.
(In thousands) | Non-accrual with no allowance | Non-accrual with allowance | Interest income recognized |  | Non-accrual with no allowance | Non-accrual with allowance | Interest income recognized |  | Non-accrual with no allowance | Non-accrual with allowance | Interest income recognized
Commercial multi-family | $ | - | $ | 1,400 | $ | 1 |  | $ | 1,755 | $ | - | $ | - |  | $ | 1,755 | $ | 1,400 | $ | 1
Commercial real estate non-owner occupied |  | 19,008 |  | 79,803 |  | 337 |  |  | - |  | 396 |  | - |  |  | 19,008 |  | 80,199 |  | 337
Commercial real estate owner occupied |  | 21,927 |  | 75,526 |  | 672 |  |  | - |  | 342 |  | - |  |  | 21,927 |  | 75,868 |  | 672
Commercial and industrial |  | 21,147 |  | 23,173 |  | 127 |  |  | 1,800 |  | 2,101 |  | - |  |  | 22,947 |  | 25,274 |  | 127
Construction |  | - |  | 21,514 |  | 52 |  |  | - |  | 9,069 |  | - |  |  | - |  | 30,583 |  | 52
Mortgage |  | 145,243 |  | 224,817 |  | 727 |  |  | 526 |  | 13,958 |  | 60 |  |  | 145,769 |  | 238,775 |  | 787
Leasing |  | - |  | 3,217 |  | 2 |  |  | - |  | - |  | - |  |  | - |  | 3,217 |  | 2
Legacy |  | - |  | - |  | - |  |  | - |  | 1,360 |  | - |  |  | - |  | 1,360 |  | -
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOCs |  | - |  | - |  | - |  |  | - |  | 7,586 |  | 1 |  |  | - |  | 7,586 |  | 1
Personal |  | 7,212 |  | 22,131 |  | 227 |  |  | - |  | 1,770 |  | 4 |  |  | 7,212 |  | 23,901 |  | 231
Auto |  | - |  | 13,454 |  | 34 |  |  | - |  | - |  | - |  |  | - |  | 13,454 |  | 34
Other |  | - |  | 14,104 |  | 121 |  |  | - |  | 29 |  | - |  |  | - |  | 14,133 |  | 121
Total | $ | 214,537 | $ | 479,139 | $ | 2,300 |  | $ | 4,081 | $ | 36,611 | $ | 65 |  | $ | 218,618 | $ | 515,750 | $ | 2,365
Collateral dependent financial assets |
|  | September 30, 2020
(In thousands) |  | Real Estate |  | Auto |  | Equipment |  | Taxi Medallions |  | Accounts Receivables |  | Other |  | Total
Puerto Rico |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial multi-family | $ | 2,265 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 2,265
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-owner occupied |  | 324,143 |  | - |  | - |  | - |  | - |  | - |  | 324,143
| Owner occupied |  | 83,963 |  | - |  | - |  | - |  | - |  | - |  | 83,963
Commercial and industrial |  | 8,911 |  | - |  | 996 |  | - |  | 12,934 |  | 17,538 |  | 40,379
Construction |  | 21,514 |  | - |  | - |  | - |  | - |  | - |  | 21,514
Mortgage |  | 184,300 |  | - |  | - |  | - |  | - |  | - |  | 184,300
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Personal |  | 5,480 |  | - |  | - |  | - |  | - |  | - |  | 5,480
Total Puerto Rico | $ | 630,576 | $ | - | $ | 996 | $ | - | $ | 12,934 | $ | 17,538 | $ | 662,044
Popular U.S. |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial multi-family | $ | 1,755 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 1,755
Commercial and industrial |  | - |  | - |  | - |  | 3,607 |  | - |  | - |  | 3,607
Construction |  | 9,069 |  | - |  | - |  | - |  | - |  | - |  | 9,069
Mortgage |  | 527 |  | - |  | - |  | - |  | - |  | - |  | 527
Total Popular U.S. | $ | 11,351 | $ | - | $ | - | $ | 3,607 | $ | - | $ | - | $ | 14,958
Popular, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial multi-family | $ | 4,020 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 4,020
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-owner occupied |  | 324,143 |  | - |  | - |  | - |  | - |  | - |  | 324,143
| Owner occupied |  | 83,963 |  | - |  | - |  | - |  | - |  | - |  | 83,963
Commercial and industrial |  | 8,911 |  | - |  | 996 |  | 3,607 |  | 12,934 |  | 17,538 |  | 43,986
Construction |  | 30,583 |  | - |  | - |  | - |  | - |  | - |  | 30,583
Mortgage |  | 184,827 |  | - |  | - |  | - |  | - |  | - |  | 184,827
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Personal |  | 5,480 |  | - |  | - |  | - |  | - |  | - |  | 5,480
Total Popular, Inc. | $ | 641,927 | $ | - | $ | 996 | $ | 3,607 | $ | 12,934 | $ | 17,538 | $ | 677,002

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