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Allowance for credit losses | 12 Months Ended
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Dec. 31, 2020
Allowance for Credit Loss |
Allowance for credit losses | Note 8 – Allowance for credit losses – loans held-in-portfolio The Corporation follows the current expected credit loss (“CECL”) model, to establish and evaluate the adequacy of the allowance for credit losses (“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 purchased credit deteriorated (“PCD”) financial assets will 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 charged to current operations is based on this methodology. Loan losses are charged and recoveries are credited to the ACL. Refer to Note 2 - Summary of significant accounting policies, for a description of the Corporation’s methodology to estimate the ACL. At December 31, 2020, the Corporation applied probability weights to the outcomes of simulations using Moody’s Analytics’ Baseline, S3 (pessimistic) and S1 (optimistic) scenarios. The Baseline scenario carried the highest weight. The remaining weights were assigned based on the evaluation of risks to the Baseline scenario. The S3 (pessimistic) scenario had the second highest probability given the uncertainties in the economic outlook and downside risk. The following tables present the changes in the ACL of loans held-in-portfolio and unfunded commitments for the years ended December 31, 2020 and 2019.
For the year ended December 31, 2020
Puerto Rico
(In thousands) | Commercial |  | Construction |  | Mortgage |  | Leasing |  | Consumer |  | Total
Allowance for credit losses - loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 131,063 |  | $ | 574 |  | $ | 116,281 |  | $ | 10,768 |  | $ | 173,965 |  | $ | 432,651
| Impact of adopting CECL |  | 62,393 |  |  | 115 |  |  | 86,081 |  |  | (713) |  |  | 122,492 |  |  | 270,368
| Provision |  | 48,756 |  |  | 3,228 |  |  | 5,318 |  |  | 14,172 |  |  | 134,391 |  |  | 205,865
| Initial allowance for credit losses - PCD Loans |  | - |  |  | - |  |  | 7,512 |  |  | - |  |  | - |  |  | 7,512
| Charge-offs |  | (27,731) |  |  | - |  |  | (30,080) |  |  | (10,447) |  |  | (170,023) |  |  | (238,281)
| Recoveries |  | 10,842 |  |  | 954 |  |  | 10,445 |  |  | 3,083 |  |  | 36,311 |  |  | 61,635
Ending balance - loans | $ | 225,323 |  | $ | 4,871 |  | $ | 195,557 |  | $ | 16,863 |  | $ | 297,136 |  | $ | 739,750
Allowance for credit losses - unfunded commitments:
Beginning balance | $ | 678 |  | $ | 294 |  | $ | - |  | $ | - |  | $ | 7,467 |  | $ | 8,439
| Impact of adopting CECL |  | 1,158 |  |  | (185) |  |  | - |  |  | - |  |  | (7,467) |  |  | (6,494)
| Provision (reversal of provision) |  | 3,077 |  |  | 4,501 |  |  | - |  |  | - |  |  | - |  |  | 7,578
Ending balance - unfunded commitments [1] | $ | 4,913 |  | $ | 4,610 |  | $ | - |  | $ | - |  | $ | - |  | $ | 9,523
[1] | Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.
For the year ended December 31, 2020
Popular U.S.
(In thousands) | Commercial |  | Construction |  | Mortgage |  | Legacy |  | Consumer |  | Total
Allowance for credit losses - loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 15,989 |  | $ | 4,204 |  | $ | 4,827 |  | $ | 630 |  | $ | 19,407 |  | $ | 45,057
| Impact of adopting CECL |  | 29,103 |  |  | (2,986) |  |  | 10,431 |  |  | 382 |  |  | 7,809 |  |  | 44,739
| Provision |  | 59,711 |  |  | 8,155 |  |  | 4,891 |  |  | 309 |  |  | 3,405 |  |  | 76,471
| Charge-offs |  | (1,976) |  |  | (1,509) |  |  | (59) |  |  | (102) |  |  | (17,404) |  |  | (21,050)
| Recoveries |  | 4,119 |  |  | 1,220 |  |  | 69 |  |  | 174 |  |  | 5,701 |  |  | 11,283
Ending balance - loans | $ | 106,946 |  | $ | 9,084 |  | $ | 20,159 |  | $ | 1,393 |  | $ | 18,918 |  | $ | 156,500
Allowance for credit losses - unfunded commitments:
Beginning balance | $ | 152 |  | $ | 119 |  | $ | - |  | $ | 6 |  | $ | 1 |  | $ | 278
| Impact of adopting CECL |  | 453 |  |  | 584 |  |  | - |  |  | (2) |  |  | (1) |  |  | 1,034
| Provision (reversal of provision) |  | 1,148 |  |  | 3,765 |  |  | - |  |  | (4) |  |  | 106 |  |  | 5,015
Ending balance - unfunded commitments [1] | $ | 1,753 |  | $ | 4,468 |  | $ | - |  | $ | - |  | $ | 106 |  | $ | 6,327
[1] | Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.
For the year ended December 31, 2020
Popular, Inc.
(In thousands) | Commercial |  | Construction |  | Mortgage |  | Legacy | Leasing |  | Consumer |  | Total
Allowance for credit losses - loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 147,052 |  | $ | 4,778 |  | $ | 121,108 |  | $ | 630 | $ | 10,768 |  | $ | 193,372 |  | $ | 477,708
| Impact of adopting CECL |  | 91,496 |  |  | (2,871) |  |  | 96,512 |  |  | 382 |  | (713) |  |  | 130,301 |  |  | 315,107
| Provision |  | 108,467 |  |  | 11,383 |  |  | 10,209 |  |  | 309 |  | 14,172 |  |  | 137,796 |  |  | 282,336
| Initial allowance for credit losses - PCD Loans |  | - |  |  | - |  |  | 7,512 |  |  | - |  | - |  |  | - |  |  | 7,512
| Charge-offs |  | (29,707) |  |  | (1,509) |  |  | (30,139) |  |  | (102) |  | (10,447) |  |  | (187,427) |  |  | (259,331)
| Recoveries |  | 14,961 |  |  | 2,174 |  |  | 10,514 |  |  | 174 |  | 3,083 |  |  | 42,012 |  |  | 72,918
Ending balance - loans | $ | 332,269 |  | $ | 13,955 |  | $ | 215,716 |  | $ | 1,393 | $ | 16,863 |  | $ | 316,054 |  | $ | 896,250
Allowance for credit losses - unfunded commitments:
Beginning balance | $ | 830 |  | $ | 413 |  | $ | - |  | $ | 6 | $ | - |  | $ | 7,468 |  | $ | 8,717
| Impact of adopting CECL |  | 1,611 |  |  | 399 |  |  | - |  |  | (2) |  | - |  |  | (7,468) |  |  | (5,460)
| Provision (reversal of provision) |  | 4,225 |  |  | 8,266 |  |  | - |  |  | (4) |  | - |  |  | 106 |  |  | 12,593
Ending balance - unfunded commitments [1] | $ | 6,666 |  | $ | 9,078 |  | $ | - |  | $ | - | $ | - |  | $ | 106 |  | $ | 15,850
[1] | Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.
For the year ended December 31, 2019
Puerto Rico
(In thousands) | Commercial |  | Construction |  | Mortgage |  | Leasing |  | Consumer |  | Total
Allowance for credit losses - loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 207,214 |  | $ | 886 |  | $ | 142,978 |  | $ | 11,486 |  | $ | 144,594 |  | $ | 507,158
| Provision (reversal of provision) |  | (41,440) |  |  | (3,417) |  |  | 14,658 |  |  | 8,619 |  |  | 157,331 |  |  | 135,751
| Charge-offs |  | (53,852) |  |  | (109) |  |  | (47,577) |  |  | (11,834) |  |  | (167,983) |  |  | (281,355)
| Recoveries |  | 19,141 |  |  | 3,214 |  |  | 6,222 |  |  | 2,497 |  |  | 40,023 |  |  | 71,097
Ending balance - loans | $ | 131,063 |  | $ | 574 |  | $ | 116,281 |  | $ | 10,768 |  | $ | 173,965 |  | $ | 432,651
Specific ACL | $ | 20,533 |  | $ | 6 |  | $ | 40,596 |  | $ | 61 |  | $ | 20,259 |  | $ | 81,455
General ACL | $ | 110,530 |  | $ | 568 |  | $ | 75,685 |  | $ | 10,707 |  | $ | 153,706 |  | $ | 351,196
Allowance for credit losses - unfunded commitments:
Beginning balance | $ | 742 |  | $ | 42 |  | $ | - |  | $ | - |  | $ | 7,199 |  | $ | 7,983
| Provision (reversal of provision) |  | (64) |  |  | 252 |  |  | - |  |  | - |  |  | 268 |  |  | 456
Ending balance - unfunded commitments [1] | $ | 678 |  | $ | 294 |  | $ | - |  | $ | - |  | $ | 7,467 |  | $ | 8,439
Loans held-in-portfolio: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans | $ | 397,452 |  | $ | 119 |  | $ | 522,469 |  | $ | 507 |  | $ | 91,157 |  | $ | 1,011,704
Loans held-in-portfolio excluding impaired loans |  | 6,863,678 |  |  | 137,351 |  |  | 5,644,279 |  |  | 1,059,000 |  |  | 5,464,220 |  |  | 19,168,528
Total loans held-in-portfolio | $ | 7,261,130 |  | $ | 137,470 |  | $ | 6,166,748 |  | $ | 1,059,507 |  | $ | 5,555,377 |  | $ | 20,180,232
[1] | Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.
For the year ended December 31, 2019
Popular U.S.
(In thousands) | Commercial |  | Construction |  | Mortgage |  | Legacy |  | Consumer |  | Total
Allowance for credit losses - loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 31,901 |  | $ | 6,538 |  | $ | 4,434 |  | $ | 969 |  | $ | 18,348 |  | $ | 62,190
| Provision (reversal of provision) |  | 15,496 |  |  | (127) |  |  | 828 |  |  | (1,738) |  |  | 15,569 |  |  | 30,028
| Charge-offs |  | (40,329) |  |  | (2,215) |  |  | (605) |  |  | 105 |  |  | (21,280) |  |  | (64,324)
| Recoveries |  | 8,921 |  |  | 8 |  |  | 170 |  |  | 1,294 |  |  | 6,770 |  |  | 17,163
Ending balance - loans | $ | 15,989 |  | $ | 4,204 |  | $ | 4,827 |  | $ | 630 |  | $ | 19,407 |  | $ | 45,057
Specific ACL | $ | - |  | $ | - |  | $ | 2,208 |  | $ | - |  | $ | 1,563 |  | $ | 3,771
General ACL | $ | 15,989 |  | $ | 4,204 |  | $ | 2,619 |  | $ | 630 |  | $ | 17,844 |  | $ | 41,286
Allowance for credit losses - unfunded commitments:
Beginning balance | $ | 132 |  | $ | 101 |  | $ | - |  | $ | - |  | $ | - |  | $ | 233
| Provision (reversal of provision) |  | 20 |  |  | 18 |  |  | - |  |  | 6 |  |  | 1 |  |  | 45
Ending balance - unfunded commitments [1] | $ | 152 |  | $ | 119 |  | $ | - |  | $ | 6 |  | $ | 1 |  | $ | 278
Loans held-in-portfolio: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans | $ | 2,097 |  | $ | - |  | $ | 9,386 |  | $ | - |  | $ | 9,634 |  | $ | 21,117
Loans held-in-portfolio excluding impaired loans |  | 5,049,524 |  |  | 693,622 |  |  | 1,007,398 |  |  | 22,105 |  |  | 432,875 |  |  | 7,205,524
Total loans held-in-portfolio | $ | 5,051,621 |  | $ | 693,622 |  | $ | 1,016,784 |  | $ | 22,105 |  | $ | 442,509 |  | $ | 7,226,641
[1] | Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.
For the year ended December 31, 2019
Popular, Inc.
(In thousands) | Commercial | Construction | Mortgage | Legacy | Leasing | Consumer | Total
Allowance for credit losses - loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 239,115 | $ | 7,424 | $ | 147,412 | $ | 969 | $ | 11,486 | $ | 162,942 | $ | 569,348
| Provision (reversal of provision) |  | (25,944) |  | (3,544) |  | 15,486 |  | (1,738) |  | 8,619 |  | 172,900 |  | 165,779
| Charge-offs |  | (94,181) |  | (2,324) |  | (48,182) |  | 105 |  | (11,834) |  | (189,263) |  | (345,679)
| Recoveries |  | 28,062 |  | 3,222 |  | 6,392 |  | 1,294 |  | 2,497 |  | 46,793 |  | 88,260
Ending balance - loans | $ | 147,052 | $ | 4,778 | $ | 121,108 | $ | 630 | $ | 10,768 | $ | 193,372 | $ | 477,708
Specific ACL | $ | 20,533 | $ | 6 | $ | 42,804 | $ | - | $ | 61 | $ | 21,822 | $ | 85,226
General ACL | $ | 126,519 | $ | 4,772 | $ | 78,304 | $ | 630 | $ | 10,707 | $ | 171,550 | $ | 392,482
Allowance for credit losses - unfunded commitments:
Beginning balance | $ | 874 | $ | 143 | $ | - | $ | - | $ | - | $ | 7,199 | $ | 8,216
| Provision (reversal of provision) |  | (44) |  | 270 |  | - |  | 6 |  | - |  | 269 |  | 501
Ending balance - unfunded commitments [1] | $ | 830 | $ | 413 | $ | - | $ | 6 | $ | - | $ | 7,468 | $ | 8,717
Loans held-in-portfolio: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans | $ | 399,549 | $ | 119 | $ | 531,855 | $ | - | $ | 507 | $ | 100,791 | $ | 1,032,821
Loans held-in-portfolio excluding impaired loans |  | 11,913,202 |  | 830,973 |  | 6,651,677 |  | 22,105 |  | 1,059,000 |  | 5,897,095 |  | 26,374,052
Total loans held-in-portfolio | $ | 12,312,751 | $ | 831,092 | $ | 7,183,532 | $ | 22,105 | $ | 1,059,507 | $ | 5,997,886 | $ | 27,406,873
[1] | Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition.
The following table provides the activity in the allowance for credit losses related to loans accounted for pursuant to ASC Subtopic 310-30.
| ASC 310-30
(In thousands) | For the year ended December 31, 2019
Balance at beginning of period | $ | 122,135
Provision |  | 1,119
Net charge-offs |  | (49,215)
Balance at end of period | $ | 74,039
Modifications A modification of a loan constitutes a troubled debt restructuring when a borrower is experiencing financial difficulty and the modification constitutes a concession. For a summary of the accounting policy related to troubled debt restructurings (“TDRs”), refer to the Summary of Significant Accounting Policies included in Note 2 to these Consolidated Financial Statements. The outstanding balance of loans classified as TDRs amounted to $ 1.7 billion at December 31, 2020 (December 31, 2019 - $ 1.6 billion). The amount of outstanding commitments to lend additional funds to debtors owing receivables whose terms have been modified in TDRs amounted to $14 million related to the commercial loan portfolio at December 31, 2020 (December 31, 2019 - $14 million). In response to the COVID-19 pandemic, the Corporation has entered into loan modifications with eligible customers in mortgage, personal loans, credit cards, auto loans and leases and certain commercial credit facilities, comprised mainly of payment deferrals of up to six months, subject to certain terms and conditions. These loan modifications do not affect the asset quality measures as the deferred payments are not deemed to be delinquent and the Corporation continues to accrue interest on these loans. The Puerto Rico Legislative Assembly enacted legislation in April 2020 that required financial institutions to offer through June 2020 moratoriums on consumer financial products to clients impacted by the COVID-19 pandemic and extended relief with respect to mortgage products through August 2020. Additionally, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), signed by the President of the United States as part of an economic stimulus package, provides relief related to U.S. GAAP requirements for loan modifications related to COVID-19 relief measures. This relief was subsequently extended until the earlier of January 1, 2022 or 60 days after the national COVID-19 emergency ends. In addition, the Federal Reserve, along with other U.S. banking regulators, also issued interagency guidance to financial institutions that offers some practical expedients for evaluating whether loan modifications that occur in response to the COVID-19 pandemic are TDRs. According to the interagency guidance, COVID-19 related short-term modifications (i.e., six months or less) granted to consumer or commercial loans that were current as of the date of the loan modification are not TDRs, since the lender can conclude that the borrower is current on their loan and thus not experiencing financial difficulties and furthermore the period of the deferral granted does not represent a more than insignificant concession on the part of the lender. In addition, a modification or deferral program that is mandated by the federal government or a state government (e.g., a state program that requires all institutions within that state to suspend mortgage payments for a specified period) does not represent a TDR. The Corporation implemented a relief program to work with customers affected by the COVID-19 pandemic in March 2020. As of December 31, 2020, the Corporation had granted loan payment moratoriums under the program to 127,117 eligible retail customers with an aggregate book value of $4.4 billion, and to 5,099 eligible commercial clients with an aggregate book value of $3.9 billion. In addition, certain participating clients impacted by the seismic activity in the Southern region of the island also benefitted from other loan payment moratoriums offered by the Corporation since mid-January 2020. As of December 31, 2020, 127,857 loans in the COVID-19 relief program with an aggregate book value of $7.8 billion had already completed their payment moratorium period, while 4,359 loans with an aggregate book value of $0.5 billion are still under the moratorium. Out of the approximately $8.3 billion in loans modified under this program, approximately $35 million have been classified as TDRs. In making this determination, the Corporation considered the criteria of whether the borrower was in financial difficulty at the time of the deferral and whether the deferral period was more than insignificant, as discussed above. At December 31, 2020, 97% of COVID-19 payment deferrals had expired. After excluding government guaranteed loans, 115,079 of remaining loans, or 94%, with an aggregate book value of $6.9 billion were current on their payments as of December 31, 2020. Loans considered current exclude those loans for which the COVID-19 related modification has expired but have subsequently been subject to other loss mitigation alternatives. The Corporation will continue to monitor and assess the post-moratorium payment behavior of these borrowers to recognize any deterioration in these loans, and potential loss exposure, in a timely manner. The following table presents the outstanding balance of loans classified as TDRs according to their accruing status and the related allowance at December 31, 2020 and 2019.
| December 31, 2020 |  |  | December 31, 2019
(In thousands) |  | Accruing |  | Non-Accruing |  | Total |  | Related Allowance |  |  |  | Accruing |  | Non-Accruing |  | Total |  | Related Allowance
Loans held-in-portfolio: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 259,246 | $ | 103,551 | $ | 362,797 | $ | 15,236 |  |  | $ | 237,861 | $ | 111,587 | $ | 349,448 | $ | 16,443
Construction |  | - |  | 21,497 |  | 21,497 |  | 4,397 |  |  |  | - |  | 119 |  | 119 |  | 6
Mortgage[1] |  | 1,060,193 |  | 135,772 |  | 1,195,965 |  | 71,018 |  |  |  | 1,013,561 |  | 126,036 |  | 1,139,597 |  | 42,012
Leases |  | 392 |  | 218 |  | 610 |  | 150 |  |  |  | 264 |  | 243 |  | 507 |  | 61
Consumer |  | 74,707 |  | 12,792 |  | 87,499 |  | 22,508 |  |  |  | 82,205 |  | 15,808 |  | 98,013 |  | 21,404
Loans held-in-portfolio | $ | 1,394,538 | $ | 273,830 | $ | 1,668,368 | $ | 113,309 |  |  | $ | 1,333,891 | $ | 253,793 | $ | 1,587,684 | $ | 79,926
[1] At December 31, 2020, accruing mortgage loan TDRs include $655 million guaranteed by U.S. sponsored entities at BPPR, compared to $625 million at December 31, 2019.
The following tables present the loan count by type of modification for those loans modified in a TDR during the years ended December 31, 2020 and 2019. Loans modified as TDRs for the U.S. operations are considered insignificant to the Corporation.
For the year ended December 31, 2020
| Reduction in interest rate |  | Extension of maturity date |  | Combination of reduction in interest rate and extension of maturity date |  | Other
Commercial multi-family | - |  | 2 |  | - |  | -
Commercial real estate non-owner occupied | 2 |  | 10 |  | - |  | 1
Commercial real estate owner occupied | - |  | 37 |  | - |  | -
Commercial and industrial | 3 |  | 50 |  | - |  | -
Construction | - |  | 1 |  | - |  | -
Mortgage | 3 |  | 68 |  | 331 |  | 411
Leasing | - |  | - |  | 5 |  | 17
Consumer: |  |  |  |  |  |  |
Credit cards | 659 |  | - |  | - |  | 93
HELOCs | - |  | 2 |  | 1 |  | -
Personal | 355 |  | 5 |  | 1 |  | 1
Auto | - |  | 2 |  | 2 |  | 38
Other | 3 |  | - |  | - |  | -
Total | 1,025 |  | 177 |  | 340 |  | 561
For the year ended December 31, 2019
| Reduction in interest rate |  | Extension of maturity date |  | Combination of reduction in interest rate and extension of maturity date |  | Other
Commercial multi-family | - |  | 3 |  | - |  | -
Commercial real estate non-owner occupied | - |  | 13 |  | - |  | -
Commercial real estate owner occupied | 1 |  | 29 |  | - |  | -
Commercial and industrial | 2 |  | 67 |  | - |  | -
Mortgage | 37 |  | 130 |  | 672 |  | 6
Leasing | - |  | 1 |  | 2 |  | -
Consumer: |  |  |  |  |  |  |
Credit cards | 515 |  | - |  | 2 |  | 189
HELOCs | - |  | 16 |  | 12 |  | -
Personal | 668 |  | 4 |  | - |  | 3
Auto | - |  | 6 |  | 2 |  | -
Other | 31 |  | - |  | - |  | -
Total | 1,254 |  | 269 |  | 690 |  | 198
The following tables present, by class, quantitative information related to loans modified as TDRs during the years ended December 31, 2020 and 2019.
Popular, Inc.
For the year ended December 31, 2020
(Dollars in thousands) | Loan count | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | Increase (decrease) in the allowance for credit losses as a result of modification
Commercial multi-family | 2 | $ | 1,133 | $ | 1,115 | $ | (18)
Commercial real estate non-owner occupied | 13 |  | 25,217 |  | 22,065 |  | (969)
Commercial real estate owner occupied | 37 |  | 10,955 |  | 10,914 |  | 137
Commercial and industrial | 53 |  | 3,140 |  | 3,178 |  | 34
Construction | 1 |  | 21,514 |  | 21,514 |  | 4,370
Mortgage | 813 |  | 102,559 |  | 85,394 |  | 6,875
Leasing | 22 |  | 720 |  | 732 |  | 65
Consumer: |  |  |  |  |  |  |
Credit cards | 752 |  | 7,048 |  | 7,097 |  | 286
HELOCs | 3 |  | 510 |  | 396 |  | 33
Personal | 362 |  | 6,194 |  | 6,188 |  | 1,043
Auto | 42 |  | 836 |  | 838 |  | 131
Other | 3 |  | 25 |  | 25 |  | 6
Total | 2,103 | $ | 179,851 | $ | 159,456 | $ | 11,993
Popular, Inc.
For the year ended December 31, 2019
(Dollars in thousands) | Loan count | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | Increase (decrease) in the allowance for credit losses as a result of modification
Commercial multi-family | 3 | $ | 346 | $ | 295 | $ | (40)
Commercial real estate non-owner occupied | 13 |  | 58,142 |  | 58,116 |  | 2,811
Commercial real estate owner occupied | 30 |  | 7,533 |  | 7,249 |  | 81
Commercial and industrial | 69 |  | 14,991 |  | 15,435 |  | 1,368
Mortgage | 845 |  | 83,833 |  | 77,308 |  | 2,814
Leasing | 3 |  | 264 |  | 266 |  | 7
Consumer: |  |  |  |  |  |  |
Credit cards | 706 |  | 5,702 |  | 5,867 |  | 554
HELOCs | 28 |  | 2,725 |  | 2,423 |  | 364
Personal | 675 |  | 10,831 |  | 10,835 |  | 3,023
Auto | 8 |  | 121 |  | 128 |  | 21
Other | 31 |  | 206 |  | 206 |  | 30
Total | 2,411 | $ | 184,694 | $ | 178,128 | $ | 11,033
During the year ended December 31, 2020, ten loans with an aggregate unpaid principal balance of $ 35.1 million were restructured into multiple notes (“Note A / B split”), of which a discounted payoff for one loan with an aggregate unpaid principal balance of $1.7 million was completed after the restructuring, compared to four loans with an aggregate unpaid principal balance of $9.1 million during the year ended December 31, 2019. The Corporation recorded $0.3 million in charge-offs as part of Note A / B restructurings during 2020, compared to $0 million in charge-offs during 2019. The recorded investment on these commercial TDRs amounted to approximately $32.9 million at December 31, 2020, compared to $9.0 million at December 31, 2019. These loans were restructured after analyzing the borrowers’ capacity to repay the debt, collateral and ability to perform under the modified terms.The following tables present, by class, TDRs that were subject to payment default and that had been modified as a TDR during the twelve months preceding the default date. 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 as a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported.
Defaulted during the year ended December 31, 2020
(Dollars in thousands) | Loan count | Recorded investment as of first default date
Commercial real estate non-owner occupied | 1 | $ | 1,700
Commercial real estate owner occupied | 6 |  | 933
Commercial and industrial | 4 |  | 141
Construction | 1 |  | 21,497
Mortgage | 249 |  | 26,925
Consumer: |  |  |
Credit cards | 317 |  | 2,560
Personal | 99 |  | 1,660
Other | 2 |  | 1
Total | 679 | $ | 55,417
Defaulted during the year ended December 31, 2019
(Dollars in thousands) | Loan count | Recorded investment as of first default date
Commercial real estate non-owner occupied | 1 | $ | 47
Commercial real estate owner occupied | 3 |  | 495
Commercial and industrial | 9 |  | 7,281
Mortgage | 63 |  | 4,424
Leasing | 1 |  | 22
Consumer: |  |  |
Credit cards | 302 |  | 2,808
HELOCs | 1 |  | 135
Personal | 197 |  | 5,640
Auto | 2 |  | 24
Other | 3 |  | 8
Total | 582 | $ | 20,884
Commercial, consumer and mortgage loans modified in a TDR are closely monitored for delinquency as an early indicator of possible future default. If loans modified in a TDR subsequently default, the allowance for credit losses may be increased or partial charge-offs may be taken to further write-down the carrying value of the loan. Credit Quality The Corporation has defined a risk rating system to assign a rating to all credit exposures, particularly for the commercial and construction loan portfolios. Risk ratings in the aggregate provide the Corporation’s management the asset quality profile for the loan portfolio. The risk rating system provides for the assignment of ratings at the obligor level based on the financial condition of the borrower. The risk rating analysis process is performed at least once a year or more frequently if events or conditions change which may deteriorate the credit quality. In the case of consumer and mortgage loans, these loans are classified considering their delinquency status at the end of the reporting period. The Corporation’s obligor risk rating scales range from rating 1 (Excellent) to rating 14 (Loss). The obligor risk rating reflects the risk of payment default of a borrower in the ordinary course of business. Pass Credit Classifications: Pass (Scales 1 through 8) – Loans classified as pass have a well defined primary source of repayment, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and strong capitalization. Watch (Scale 9) – Loans classified as watch have acceptable business credit, but borrower’s operations, cash flow or financial condition evidence more than average risk, requires above average levels of supervision and attention from Loan Officers. Special Mention (Scale 10) - Loans classified as special mention have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Corporation’s credit position at some future date. Adversely Classified Classifications: Substandard (Scales 11 and 12) - Loans classified as substandard are deemed to be inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans classified as such have well-defined weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful (Scale 13) - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the additional characteristic that the weaknesses make the collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loss (Scale 14) - Uncollectible and of such little value that continuance as a bankable asset is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this asset even though partial recovery may be effected in the future. Risk ratings scales 10 through 14 conform to regulatory ratings. The assignment of the obligor risk rating is based on relevant information about the ability of borrowers to service their debts such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The following table presents the amortized cost basis, net of unearned income, of loans held-in-portfolio based on the Corporation’s assignment of obligor risk ratings as defined at December 31, 2020 by vintage year.
December 31, 2020
|  |  |  | Term Loans |  | Revolving Loans Amortized Cost Basis |  | Revolving Loans Converted to Term Loans Amortized Cost Basis |  |
|  |  |  | Amortized Cost Basis by Origination Year |  |  |  |
(In thousands) |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior Years |  |  |  | Total
Puerto Rico |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial multi-family
|  |  | Watch | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 460 | $ | - | $ | - | $ | 460
|  |  | Special mention |  | - |  | - |  | - |  | - |  | - |  | 4,160 |  | - |  | - |  | 4,160
|  |  | Substandard |  | - |  | - |  | - |  | - |  | - |  | 400 |  | 100 |  | - |  | 500
|  |  | Pass |  | 5,216 |  | 36,433 |  | 26,051 |  | 2,106 |  | 2,563 |  | 74,791 |  | - |  | - |  | 147,160
|  | Total commercial multi-family | $ | 5,216 | $ | 36,433 | $ | 26,051 | $ | 2,106 | $ | 2,563 | $ | 79,811 | $ | 100 | $ | - | $ | 152,280
|  | Commercial real estate non-owner occupied
|  |  | Watch | $ | 160,960 | $ | 73,561 | $ | 27,592 | $ | 40,654 | $ | 33,277 | $ | 197,912 | $ | 2,100 | $ | - | $ | 536,056
|  |  | Special Mention |  | - |  | 26,331 |  | 124,560 |  | 29,711 |  | 19,895 |  | 62,839 |  | 836 |  | - |  | 264,172
|  |  | Substandard |  | 43,399 |  | 74,303 |  | 26,799 |  | 4,932 |  | 29,974 |  | 130,218 |  | 95 |  | - |  | 309,720
|  |  | Pass |  | 88,324 |  | 53,385 |  | 39,814 |  | 60,585 |  | 124,643 |  | 527,282 |  | 3,352 |  | - |  | 897,385
|  | Total commercial real estate non-owner occupied | $ | 292,683 | $ | 227,580 | $ | 218,765 | $ | 135,882 | $ | 207,789 | $ | 918,251 | $ | 6,383 | $ | - | $ | 2,007,333
|  | Commercial real estate owner occupied
|  |  | Watch | $ | 96,046 | $ | 10,319 | $ | 14,412 | $ | 9,760 | $ | 9,584 | $ | 146,445 | $ | 2,627 | $ | - | $ | 289,193
|  |  | Special Mention |  | 850 |  | 6,638 |  | 249 |  | 6,571 |  | 282 |  | 172,078 |  | - |  | - |  | 186,668
|  |  | Substandard |  | 1,774 |  | 2,181 |  | 37,686 |  | 1,878 |  | 27,094 |  | 145,193 |  | - |  | - |  | 215,806
|  |  | Doubtful |  | - |  | - |  | - |  | - |  | - |  | 1,714 |  | - |  | - |  | 1,714
|  |  | Pass |  | 204,840 |  | 54,274 |  | 31,917 |  | 57,854 |  | 128,392 |  | 417,376 |  | 10,861 |  | - |  | 905,514
|  | Total commercial real estate owner occupied | $ | 303,510 | $ | 73,412 | $ | 84,264 | $ | 76,063 | $ | 165,352 | $ | 882,806 | $ | 13,488 | $ | - | $ | 1,598,895
|  | Commercial and industrial
|  |  | Watch | $ | 131,556 | $ | 77,821 | $ | 182,776 | $ | 40,318 | $ | 63,968 | $ | 267,856 | $ | 243,335 | $ | - | $ | 1,007,630
|  |  | Special Mention |  | 28,310 |  | 10,297 |  | 19,220 |  | 45,861 |  | 910 |  | 28,507 |  | 86,263 |  | - |  | 219,368
|  |  | Substandard |  | 32,941 |  | 2,180 |  | 26,921 |  | 26,769 |  | 1,824 |  | 55,220 |  | 49,036 |  | - |  | 194,891
|  |  | Doubtful |  | - |  | 67 |  | - |  | 1 |  | - |  | 54 |  | 1 |  | - |  | 123
|  |  | Loss |  | - |  | - |  | - |  | - |  | - |  | - |  | 13 |  | - |  | 13
|  |  | Pass |  | 1,181,399 |  | 492,778 |  | 119,709 |  | 168,174 |  | 105,442 |  | 218,716 |  | 520,865 |  | - |  | 2,807,083
|  | Total commercial and industrial | $ | 1,374,206 | $ | 583,143 | $ | 348,626 | $ | 281,123 | $ | 172,144 | $ | 570,353 | $ | 899,513 | $ | - | $ | 4,229,108
| Construction
|  |  | Watch | $ | - | $ | 105 | $ | 4,895 | $ | - | $ | - | $ | - | $ | 960 | $ | - | $ | 5,960
|  |  | Substandard |  | - |  | - |  | - |  | 21,497 |  | - |  | - |  | - |  | - |  | 21,497
|  |  | Pass |  | 15,723 |  | 22,408 |  | 3,423 |  | 63,582 |  | - |  | - |  | 24,513 |  | - |  | 129,649
| Total construction | $ | 15,723 | $ | 22,513 | $ | 8,318 | $ | 85,079 | $ | - | $ | - | $ | 25,473 | $ | - | $ | 157,106
| Mortgage
|  |  | Substandard | $ | 754 | $ | 903 | $ | 1,172 | $ | 3,129 | $ | 4,374 | $ | 159,359 | $ | - | $ | - | $ | 169,691
|  |  | Pass |  | 263,473 |  | 224,390 |  | 177,537 |  | 212,650 |  | 225,824 |  | 5,496,578 |  | - |  | - |  | 6,600,452
| Total mortgage | $ | 264,227 | $ | 225,293 | $ | 178,709 | $ | 215,779 | $ | 230,198 | $ | 5,655,937 | $ | - | $ | - | $ | 6,770,143
| Leasing
|  |  | Substandard | $ | 200 | $ | 822 | $ | 748 | $ | 913 | $ | 617 | $ | 136 | $ | - | $ | - | $ | 3,436
|  |  | Pass |  | 480,964 |  | 315,022 |  | 209,340 |  | 109,708 |  | 63,955 |  | 15,236 |  | - |  | - |  | 1,194,225
| Total leasing | $ | 481,164 | $ | 315,844 | $ | 210,088 | $ | 110,621 | $ | 64,572 | $ | 15,372 | $ | - | $ | - | $ | 1,197,661
December 31, 2020
|  |  |  | Term Loans |  | Revolving Loans Amortized Cost Basis |  | Revolving Loans Converted to Term Loans Amortized Cost Basis |  |
|  |  |  | Amortized Cost Basis by Origination Year |  |  |  |
(In thousands) |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior Years |  |  |  | Total
Puerto Rico |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Consumer:
|  | Credit cards
|  |  | Substandard | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 12,798 | $ | - | $ | 12,798
|  |  | Pass |  | - |  | - |  | - |  | - |  | - |  | - |  | 907,137 |  | - |  | 907,137
| Total credit cards | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 919,935 | $ | - | $ | 919,935
|  | HELOCs
|  |  | Pass | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 540 | $ | 3,639 | $ | - | $ | 4,179
| Total HELOCs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 540 | $ | 3,639 | $ | - | $ | 4,179
|  | Personal
|  |  | Substandard | $ | 1,288 | $ | 4,782 | $ | 1,741 | $ | 1,022 | $ | 971 | $ | 18,647 | $ | 152 | $ | 1,545 | $ | 30,148
|  |  | Pass |  | 323,170 |  | 413,973 |  | 168,142 |  | 99,768 |  | 57,319 |  | 137,693 |  | 2,144 |  | 45,390 |  | 1,247,599
| Total Personal | $ | 324,458 | $ | 418,755 | $ | 169,883 | $ | 100,790 | $ | 58,290 | $ | 156,340 | $ | 2,296 | $ | 46,935 | $ | 1,277,747
|  | Auto
|  |  | Substandard | $ | 1,975 | $ | 6,029 | $ | 3,612 | $ | 1,760 | $ | 1,369 | $ | 990 | $ | - | $ | - | $ | 15,735
|  |  | Pass |  | 1,064,082 |  | 881,343 |  | 628,657 |  | 299,677 |  | 168,157 |  | 74,577 |  | - |  | - |  | 3,116,493
| Total Auto | $ | 1,066,057 | $ | 887,372 | $ | 632,269 | $ | 301,437 | $ | 169,526 | $ | 75,567 | $ | - | $ | - | $ | 3,132,228
|  | Other consumer
|  |  | Substandard | $ | - | $ | 16 | $ | 1,376 | $ | 240 | $ | 174 | $ | 13,075 | $ | - | $ | - | $ | 14,881
|  |  | Pass |  | 16,912 |  | 15,698 |  | 13,158 |  | 4,966 |  | 2,828 |  | 3,785 |  | 54,437 |  | - |  | 111,784
| Total Other consumer | $ | 16,912 | $ | 15,714 | $ | 14,534 | $ | 5,206 | $ | 3,002 | $ | 16,860 | $ | 54,437 | $ | - | $ | 126,665
Total Puerto Rico | $ | 4,144,156 | $ | 2,806,059 | $ | 1,891,507 | $ | 1,314,086 | $ | 1,073,436 | $ | 8,371,837 | $ | 1,925,264 | $ | 46,935 | $ | 21,573,280
December 31, 2020
|  |  |  | Term Loans |  | Revolving Loans Amortized Cost Basis |  | Revolving Loans Converted to Term Loans Amortized Cost Basis |  |
|  |  |  | Amortized Cost Basis by Origination Year |  |  |  |
(In thousands) |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior Years |  |  |  | Total
Popular U.S. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial multi-family
|  |  | Watch | $ | 1,643 | $ | 16,787 | $ | 39,980 | $ | 39,713 | $ | 52,989 | $ | 61,369 | $ | - | $ | - | $ | 212,481
|  |  | Special mention |  | 3,122 |  | 30,708 |  | 4,380 |  | 19,593 |  | 37,745 |  | 20,463 |  | - |  | - |  | 116,011
|  |  | Substandard |  | - |  | 17,376 |  | 21,771 |  | 1,755 |  | 20,085 |  | 6,247 |  | - |  | - |  | 67,234
|  |  | Pass |  | 326,008 |  | 289,652 |  | 163,812 |  | 100,555 |  | 132,400 |  | 332,709 |  | 2,849 |  | - |  | 1,347,985
|  | Total commercial multi-family | $ | 330,773 | $ | 354,523 | $ | 229,943 | $ | 161,616 | $ | 243,219 | $ | 420,788 | $ | 2,849 | $ | - | $ | 1,743,711
|  | Commercial real estate non-owner occupied
|  |  | Watch | $ | 10,057 | $ | 23,877 | $ | 76,629 | $ | 56,112 | $ | 49,166 | $ | 62,766 | $ | 1,055 | $ | - | $ | 279,662
|  |  | Special Mention |  | - |  | 4,760 |  | 15,304 |  | 14,623 |  | 70,224 |  | 20,028 |  | 350 |  | - |  | 125,289
|  |  | Substandard |  | 771 |  | 18,642 |  | 36,495 |  | 11,007 |  | 40,528 |  | 28,984 |  | - |  | - |  | 136,427
|  |  | Pass |  | 397,686 |  | 231,904 |  | 224,256 |  | 236,008 |  | 142,432 |  | 214,495 |  | 5,651 |  | - |  | 1,452,432
|  | Total commercial real estate non-owner occupied | $ | 408,514 | $ | 279,183 | $ | 352,684 | $ | 317,750 | $ | 302,350 | $ | 326,273 | $ | 7,056 | $ | - | $ | 1,993,810
|  | Commercial real estate owner occupied
|  |  | Watch | $ | 393 | $ | 8,266 | $ | 7,941 | $ | 4,060 | $ | 16,689 | $ | 16,108 | $ | 4,222 | $ | - | $ | 57,679
|  |  | Special Mention |  | - |  | - |  | 192 |  | - |  | - |  | 1,467 |  | - |  | - |  | 1,659
|  |  | Substandard |  | - |  | 1,152 |  | 2,361 |  | - |  | 1,348 |  | 20,305 |  | - |  | - |  | 25,166
|  |  | Pass |  | 48,684 |  | 47,484 |  | 47,451 |  | 28,761 |  | 18,296 |  | 68,739 |  | 461 |  | - |  | 259,876
|  | Total commercial real estate owner occupied | $ | 49,077 | $ | 56,902 | $ | 57,945 | $ | 32,821 | $ | 36,333 | $ | 106,619 | $ | 4,683 | $ | - | $ | 344,380
|  | Commercial and industrial
|  |  | Watch | $ | 16,126 | $ | 1,973 | $ | 30 | $ | 3,621 | $ | 1,196 | $ | 7,557 | $ | 3,972 | $ | - | $ | 34,475
|  |  | Special Mention |  | 14,056 |  | - |  | - |  | 1,634 |  | 4,807 |  | 4,577 |  | 1,637 |  | - |  | 26,711
|  |  | Substandard |  | 2,029 |  | 6,568 |  | - |  | - |  | - |  | 2,232 |  | 2,394 |  | - |  | 13,223
|  |  | Pass |  | 410,265 |  | 196,958 |  | 198,249 |  | 132,993 |  | 123,762 |  | 298,877 |  | 101,250 |  | - |  | 1,462,354
|  | Total commercial and industrial | $ | 442,476 | $ | 205,499 | $ | 198,279 | $ | 138,248 | $ | 129,765 | $ | 313,243 | $ | 109,253 | $ | - | $ | 1,536,763
| Construction
|  |  | Watch | $ | 8,451 | $ | - | $ | - | $ | 37,015 | $ | - | $ | - | $ | - | $ | - | $ | 45,466
|  |  | Special Mention |  | - |  | - |  | - |  | 3,089 |  | - |  | 30,083 |  | - |  | - |  | 33,172
|  |  | Substandard |  | - |  | - |  | 20,655 |  | 9,372 |  | 7,560 |  | - |  | - |  | - |  | 37,587
|  |  | Pass |  | 79,489 |  | 288,865 |  | 168,411 |  | 99,814 |  | 8,392 |  | 463 |  | - |  | - |  | 645,434
| Total construction | $ | 87,940 | $ | 288,865 | $ | 189,066 | $ | 149,290 | $ | 15,952 | $ | 30,546 | $ | - | $ | - | $ | 761,659
| Mortgage
|  |  | Substandard | $ | 29 | $ | - | $ | 1,221 | $ | - | $ | 328 | $ | 13,287 | $ | - | $ | - | $ | 14,865
|  |  | Pass |  | 356,839 |  | 275,289 |  | 103,160 |  | 9,337 |  | 9,530 |  | 351,517 |  | - |  | - |  | 1,105,672
| Total mortgage | $ | 356,868 | $ | 275,289 | $ | 104,381 | $ | 9,337 | $ | 9,858 | $ | 364,804 | $ | - | $ | - | $ | 1,120,537
| Legacy
|  |  | Watch | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 2,996 | $ | - | $ | - | $ | 2,996
|  |  | Special Mention |  | - |  | - |  | - |  | - |  | - |  | 179 |  | - |  | - |  | 179
|  |  | Substandard |  | - |  | - |  | - |  | - |  | - |  | 3,748 |  | - |  | - |  | 3,748
|  |  | Pass |  | 84 |  | - |  | - |  | - |  | - |  | 7,347 |  | 1,119 |  | - |  | 8,550
| Total legacy | $ | 84 | $ | - | $ | - | $ | - | $ | - | $ | 14,270 | $ | 1,119 | $ | - | $ | 15,473
December 31, 2020
|  |  |  | Term Loans |  | Revolving Loans Amortized Cost Basis |  | Revolving Loans Converted to Term Loans Amortized Cost Basis |  |
|  |  |  | Amortized Cost Basis by Origination Year |  |  |  |
(In thousands) |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior Years |  |  |  | Total
Popular U.S. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Consumer:
|  | Credit cards
|  |  | Pass | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 31 | $ | - | $ | 31
| Total credit cards | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 31 | $ | - | $ | 31
|  | HELOCs
|  |  | Substandard | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 112 | $ | - | $ | 357 | $ | 469
|  |  | Loss |  | - |  | - |  | - |  | - |  | - |  | 156 |  | - |  | 6,867 |  | 7,023
|  |  | Pass |  | - |  | - |  | - |  | - |  | - |  | 11,907 |  | 39,366 |  | 35,806 |  | 87,079
| Total HELOCs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 12,175 | $ | 39,366 | $ | 43,030 | $ | 94,571
|  | Personal
|  |  | Substandard | $ | 83 | $ | 784 | $ | 165 | $ | 74 | $ | 18 | $ | 6 | $ | - | $ | - | $ | 1,130
|  |  | Loss |  | - |  | 17 |  | 63 |  | 12 |  | 6 |  | 244 |  | 2 |  | - |  | 344
|  |  | Pass |  | 40,539 |  | 109,606 |  | 27,693 |  | 9,623 |  | 1,855 |  | 8,256 |  | 192 |  | - |  | 197,764
| Total Personal | $ | 40,622 | $ | 110,407 | $ | 27,921 | $ | 9,709 | $ | 1,879 | $ | 8,506 | $ | 194 | $ | - | $ | 199,238
|  | Other consumer
|  |  | Substandard | $ | - |  | - |  | - |  | - |  | - |  | - |  | 20 |  | - |  | 20
|  |  | Pass | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 1,723 | $ | - | $ | 1,723
| Total Other consumer | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 1,743 | $ | - | $ | 1,743
Total Popular U.S. | $ | 1,716,354 | $ | 1,570,668 | $ | 1,160,219 | $ | 818,771 | $ | 739,356 | $ | 1,597,224 | $ | 166,294 | $ | 43,030 | $ | 7,811,916
December 31, 2020
|  |  |  | Term Loans |  | Revolving Loans Amortized Cost Basis |  | Revolving Loans Converted to Term Loans Amortized Cost Basis |  |
|  |  |  | Amortized Cost Basis by Origination Year |  |  |  |
(In thousands) |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior Years |  |  |  | Total
Popular, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial multi-family
|  |  | Watch | $ | 1,643 | $ | 16,787 | $ | 39,980 | $ | 39,713 | $ | 52,989 | $ | 61,829 | $ | - | $ | - | $ | 212,941
|  |  | Special mention |  | 3,122 |  | 30,708 |  | 4,380 |  | 19,593 |  | 37,745 |  | 24,623 |  | - |  | - |  | 120,171
|  |  | Substandard |  | - |  | 17,376 |  | 21,771 |  | 1,755 |  | 20,085 |  | 6,647 |  | 100 |  | - |  | 67,734
|  |  | Pass |  | 331,224 |  | 326,085 |  | 189,863 |  | 102,661 |  | 134,963 |  | 407,500 |  | 2,849 |  | - |  | 1,495,145
|  | Total commercial multi-family | $ | 335,989 | $ | 390,956 | $ | 255,994 | $ | 163,722 | $ | 245,782 | $ | 500,599 | $ | 2,949 | $ | - | $ | 1,895,991
|  | Commercial real estate non-owner occupied
|  |  | Watch | $ | 171,017 | $ | 97,438 | $ | 104,221 | $ | 96,766 | $ | 82,443 | $ | 260,678 | $ | 3,155 | $ | - | $ | 815,718
|  |  | Special Mention |  | - |  | 31,091 |  | 139,864 |  | 44,334 |  | 90,119 |  | 82,867 |  | 1,186 |  | - |  | 389,461
|  |  | Substandard |  | 44,170 |  | 92,945 |  | 63,294 |  | 15,939 |  | 70,502 |  | 159,202 |  | 95 |  | - |  | 446,147
|  |  | Pass |  | 486,010 |  | 285,289 |  | 264,070 |  | 296,593 |  | 267,075 |  | 741,777 |  | 9,003 |  | - |  | 2,349,817
|  | Total commercial real estate non-owner occupied | $ | 701,197 | $ | 506,763 | $ | 571,449 | $ | 453,632 | $ | 510,139 | $ | 1,244,524 | $ | 13,439 | $ | - | $ | 4,001,143
|  | Commercial real estate owner occupied
|  |  | Watch | $ | 96,439 | $ | 18,585 | $ | 22,353 | $ | 13,820 | $ | 26,273 | $ | 162,553 | $ | 6,849 | $ | - | $ | 346,872
|  |  | Special Mention |  | 850 |  | 6,638 |  | 441 |  | 6,571 |  | 282 |  | 173,545 |  | - |  | - |  | 188,327
|  |  | Substandard |  | 1,774 |  | 3,333 |  | 40,047 |  | 1,878 |  | 28,442 |  | 165,498 |  | - |  | - |  | 240,972
|  |  | Doubtful |  | - |  | - |  | - |  | - |  | - |  | 1,714 |  | - |  | - |  | 1,714
|  |  | Pass |  | 253,524 |  | 101,758 |  | 79,368 |  | 86,615 |  | 146,688 |  | 486,115 |  | 11,322 |  | - |  | 1,165,390
|  | Total commercial real estate owner occupied | $ | 352,587 | $ | 130,314 | $ | 142,209 | $ | 108,884 | $ | 201,685 | $ | 989,425 | $ | 18,171 | $ | - | $ | 1,943,275
|  | Commercial and industrial
|  |  | Watch | $ | 147,682 | $ | 79,794 | $ | 182,806 | $ | 43,939 | $ | 65,164 | $ | 275,413 | $ | 247,307 | $ | - | $ | 1,042,105
|  |  | Special Mention |  | 42,366 |  | 10,297 |  | 19,220 |  | 47,495 |  | 5,717 |  | 33,084 |  | 87,900 |  | - |  | 246,079
|  |  | Substandard |  | 34,970 |  | 8,748 |  | 26,921 |  | 26,769 |  | 1,824 |  | 57,452 |  | 51,430 |  | - |  | 208,114
|  |  | Doubtful |  | - |  | 67 |  | - |  | 1 |  | - |  | 54 |  | 1 |  | - |  | 123
|  |  | Loss |  | - |  | - |  | - |  | - |  | - |  | - |  | 13 |  | - |  | 13
|  |  | Pass |  | 1,591,664 |  | 689,736 |  | 317,958 |  | 301,167 |  | 229,204 |  | 517,593 |  | 622,115 |  | - |  | 4,269,437
|  | Total commercial and industrial | $ | 1,816,682 | $ | 788,642 | $ | 546,905 | $ | 419,371 | $ | 301,909 | $ | 883,596 | $ | 1,008,766 | $ | - | $ | 5,765,871
December 31, 2020
|  |  |  | Term Loans |  | Revolving Loans Amortized Cost Basis |  | Revolving Loans Converted to Term Loans Amortized Cost Basis |  |
|  |  |  | Amortized Cost Basis by Origination Year |  |  |  |
(In thousands) |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior Years |  |  |  | Total
Popular, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Construction
|  |  | Watch | $ | 8,451 | $ | 105 | $ | 4,895 | $ | 37,015 | $ | - | $ | - | $ | 960 | $ | - | $ | 51,426
|  |  | Special Mention |  | - |  | - |  | - |  | 3,089 |  | - |  | 30,083 |  | - |  | - |  | 33,172
|  |  | Substandard |  | - |  | - |  | 20,655 |  | 30,869 |  | 7,560 |  | - |  | - |  | - |  | 59,084
|  |  | Pass |  | 95,212 |  | 311,273 |  | 171,834 |  | 163,396 |  | 8,392 |  | 463 |  | 24,513 |  | - |  | 775,083
| Total construction | $ | 103,663 | $ | 311,378 | $ | 197,384 | $ | 234,369 | $ | 15,952 | $ | 30,546 | $ | 25,473 | $ | - | $ | 918,765
| Mortgage
|  |  | Substandard | $ | 783 | $ | 903 | $ | 2,393 | $ | 3,129 | $ | 4,702 | $ | 172,646 | $ | - | $ | - | $ | 184,556
|  |  | Pass |  | 620,312 |  | 499,679 |  | 280,697 |  | 221,987 |  | 235,354 |  | 5,848,095 |  | - |  | - |  | 7,706,124
| Total mortgage | $ | 621,095 | $ | 500,582 | $ | 283,090 | $ | 225,116 | $ | 240,056 | $ | 6,020,741 | $ | - | $ | - | $ | 7,890,680
| Legacy
|  |  | Watch | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 2,996 | $ | - | $ | - | $ | 2,996
|  |  | Special Mention |  | - |  | - |  | - |  | - |  | - |  | 179 |  | - |  | - |  | 179
|  |  | Substandard |  | - |  | - |  | - |  | - |  | - |  | 3,748 |  | - |  | - |  | 3,748
|  |  | Pass |  | 84 |  | - |  | - |  | - |  | - |  | 7,347 |  | 1,119 |  | - |  | 8,550
| Total legacy | $ | 84 | $ | - | $ | - | $ | - | $ | - | $ | 14,270 | $ | 1,119 | $ | - | $ | 15,473
| Leasing
|  |  | Substandard | $ | 200 | $ | 822 | $ | 748 | $ | 913 | $ | 617 | $ | 136 | $ | - | $ | - | $ | 3,436
|  |  | Pass |  | 480,964 |  | 315,022 |  | 209,340 |  | 109,708 |  | 63,955 |  | 15,236 |  | - |  | - |  | 1,194,225
| Total leasing | $ | 481,164 | $ | 315,844 | $ | 210,088 | $ | 110,621 | $ | 64,572 | $ | 15,372 | $ | - | $ | - | $ | 1,197,661
December 31, 2020
|  |  |  | Term Loans |  | Revolving Loans Amortized Cost Basis |  | Revolving Loans Converted to Term Loans Amortized Cost Basis |  |
|  |  |  | Amortized Cost Basis by Origination Year |  |  |  |
(In thousands) |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior Years |  |  |  | Total
Popular, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Consumer:
|  | Credit cards
|  |  | Substandard | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 12,798 | $ | - | $ | 12,798
|  |  | Pass |  | - |  | - |  | - |  | - |  | - |  | - |  | 907,168 |  | - |  | 907,168
| Total credit cards | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 919,966 | $ | - | $ | 919,966
|  | HELOCs
|  |  | Substandard | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 112 | $ | - | $ | 357 | $ | 469
|  |  | Loss |  | - |  | - |  | - |  | - |  | - |  | 156 |  | - |  | 6,867 |  | 7,023
|  |  | Pass |  | - |  | - |  | - |  | - |  | - |  | 12,447 |  | 43,005 |  | 35,806 |  | 91,258
| Total HELOCs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 12,715 | $ | 43,005 | $ | 43,030 | $ | 98,750
|  | Personal
|  |  | Substandard | $ | 1,371 | $ | 5,566 | $ | 1,906 | $ | 1,096 | $ | 989 | $ | 18,653 | $ | 152 | $ | 1,545 | $ | 31,278
|  |  | Loss |  | - |  | 17 |  | 63 |  | 12 |  | 6 |  | 244 |  | 2 |  | - |  | 344
|  |  | Pass |  | 363,709 |  | 523,579 |  | 195,835 |  | 109,391 |  | 59,174 |  | 145,949 |  | 2,336 |  | 45,390 |  | 1,445,363
| Total Personal | $ | 365,080 | $ | 529,162 | $ | 197,804 | $ | 110,499 | $ | 60,169 | $ | 164,846 | $ | 2,490 | $ | 46,935 | $ | 1,476,985
|  | Auto
|  |  | Substandard | $ | 1,975 | $ | 6,029 | $ | 3,612 | $ | 1,760 | $ | 1,369 | $ | 990 | $ | - | $ | - | $ | 15,735
|  |  | Pass |  | 1,064,082 |  | 881,343 |  | 628,657 |  | 299,677 |  | 168,157 |  | 74,577 |  | - |  | - |  | 3,116,493
| Total Auto | $ | 1,066,057 | $ | 887,372 | $ | 632,269 | $ | 301,437 | $ | 169,526 | $ | 75,567 | $ | - | $ | - | $ | 3,132,228
|  | Other consumer
|  |  | Substandard | $ | - | $ | 16 | $ | 1,376 | $ | 240 | $ | 174 | $ | 13,075 | $ | 20 | $ | - | $ | 14,901
|  |  | Pass |  | 16,912 |  | 15,698 |  | 13,158 |  | 4,966 |  | 2,828 |  | 3,785 |  | 56,160 |  | - |  | 113,507
| Total Other consumer | $ | 16,912 | $ | 15,714 | $ | 14,534 | $ | 5,206 | $ | 3,002 | $ | 16,860 | $ | 56,180 | $ | - | $ | 128,408
Total Popular Inc. | $ | 5,860,510 | $ | 4,376,727 | $ | 3,051,726 | $ | 2,132,857 | $ | 1,812,792 | $ | 9,969,061 | $ | 2,091,558 | $ | 89,965 | $ | 29,385,196
The following table presents the outstanding balance, net of unearned income, of loans held-in-portfolio based on the Corporation’s assignment of obligor risk ratings as defined at December 31, 2019.
December 31, 2019
|  |  |  | Special |  |  |  |  |  |  |  |  |  |  |
(In thousands) | Watch | Mention | Substandard | Doubtful | Loss | Sub-total | Pass | Total
Puerto Rico |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial multi-family | $ | 1,341 | $ | 3,870 | $ | 1,793 | $ | - | $ | - | $ | 7,004 | $ | 140,845 | $ | 147,849
Commercial real estate non-owner occupied |  | 492,357 |  | 166,810 |  | 239,448 |  | 3,290 |  | - |  | 901,905 |  | 1,206,313 |  | 2,108,218
Commercial real estate owner occupied |  | 192,895 |  | 184,678 |  | 183,377 |  | 1,629 |  | - |  | 562,579 |  | 1,023,750 |  | 1,586,329
Commercial and industrial |  | 592,861 |  | 170,183 |  | 130,872 |  | 148 |  | 16 |  | 894,080 |  | 2,524,654 |  | 3,418,734
| Total Commercial |  | 1,279,454 |  | 525,541 |  | 555,490 |  | 5,067 |  | 16 |  | 2,365,568 |  | 4,895,562 |  | 7,261,130
Construction |  | 340 |  | 649 |  | 20,771 |  | - |  | - |  | 21,760 |  | 115,710 |  | 137,470
Mortgage |  | 2,187 |  | 2,218 |  | 127,621 |  | - |  | - |  | 132,026 |  | 6,034,722 |  | 6,166,748
Leasing |  | - |  | - |  | 3,590 |  | - |  | 68 |  | 3,658 |  | 1,055,849 |  | 1,059,507
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Credit cards |  | - |  | - |  | 19,461 |  | - |  | - |  | 19,461 |  | 1,104,339 |  | 1,123,800
| HELOCs |  | - |  | - |  | - |  | - |  | - |  | - |  | 5,038 |  | 5,038
| Personal |  | 77 |  | - |  | 19,558 |  | - |  | - |  | 19,635 |  | 1,348,515 |  | 1,368,150
| Auto |  | - |  | - |  | 30,775 |  | - |  | 372 |  | 31,147 |  | 2,886,375 |  | 2,917,522
| Other |  | 459 |  | 11 |  | 15,020 |  | - |  | 53 |  | 15,543 |  | 125,324 |  | 140,867
| Total Consumer |  | 536 |  | 11 |  | 84,814 |  | - |  | 425 |  | 85,786 |  | 5,469,591 |  | 5,555,377
Total Puerto Rico | $ | 1,282,517 | $ | 528,419 | $ | 792,286 | $ | 5,067 | $ | 509 | $ | 2,608,798 | $ | 17,571,434 | $ | 20,180,232
Popular U.S. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial multi-family | $ | 48,359 | $ | 13,827 | $ | 8,433 | $ | - | $ | - | $ | 70,619 | $ | 1,576,691 | $ | 1,647,310
Commercial real estate non-owner occupied |  | 80,608 |  | 24,383 |  | 100,658 |  | - |  | - |  | 205,649 |  | 1,664,647 |  | 1,870,296
Commercial real estate owner occupied |  | 27,298 |  | 5,709 |  | 13,826 |  | - |  | - |  | 46,833 |  | 292,302 |  | 339,135
Commercial and industrial |  | 25,679 |  | 1,460 |  | 20,386 |  | - |  | - |  | 47,525 |  | 1,147,355 |  | 1,194,880
| Total Commercial |  | 181,944 |  | 45,379 |  | 143,303 |  | - |  | - |  | 370,626 |  | 4,680,995 |  | 5,051,621
Construction |  | 46,644 |  | 17,291 |  | 44,798 |  | - |  | - |  | 108,733 |  | 584,889 |  | 693,622
Mortgage |  | - |  | - |  | 11,091 |  | - |  | - |  | 11,091 |  | 1,005,693 |  | 1,016,784
Legacy |  | 388 |  | 202 |  | 1,528 |  | - |  | - |  | 2,118 |  | 19,987 |  | 22,105
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Credit cards |  | - |  | - |  | - |  | - |  | - |  | - |  | 36 |  | 36
| HELOCs |  | - |  | - |  | 2,024 |  | - |  | 7,930 |  | 9,954 |  | 107,389 |  | 117,343
| Personal |  | - |  | - |  | 1,664 |  | - |  | 403 |  | 2,067 |  | 322,373 |  | 324,440
| Other |  | - |  | - |  | - |  | - |  | - |  | - |  | 690 |  | 690
| Total Consumer |  | - |  | - |  | 3,688 |  | - |  | 8,333 |  | 12,021 |  | 430,488 |  | 442,509
Total Popular U.S. | $ | 228,976 | $ | 62,872 | $ | 204,408 | $ | - | $ | 8,333 | $ | 504,589 | $ | 6,722,052 | $ | 7,226,641
Popular, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial multi-family | $ | 49,700 | $ | 17,697 | $ | 10,226 | $ | - | $ | - | $ | 77,623 | $ | 1,717,536 | $ | 1,795,159
Commercial real estate non-owner occupied |  | 572,965 |  | 191,193 |  | 340,106 |  | 3,290 |  | - |  | 1,107,554 |  | 2,870,960 |  | 3,978,514
Commercial real estate owner occupied |  | 220,193 |  | 190,387 |  | 197,203 |  | 1,629 |  | - |  | 609,412 |  | 1,316,052 |  | 1,925,464
Commercial and industrial |  | 618,540 |  | 171,643 |  | 151,258 |  | 148 |  | 16 |  | 941,605 |  | 3,672,009 |  | 4,613,614
| Total Commercial |  | 1,461,398 |  | 570,920 |  | 698,793 |  | 5,067 |  | 16 |  | 2,736,194 |  | 9,576,557 |  | 12,312,751
Construction |  | 46,984 |  | 17,940 |  | 65,569 |  | - |  | - |  | 130,493 |  | 700,599 |  | 831,092
Mortgage |  | 2,187 |  | 2,218 |  | 138,712 |  | - |  | - |  | 143,117 |  | 7,040,415 |  | 7,183,532
Legacy |  | 388 |  | 202 |  | 1,528 |  | - |  | - |  | 2,118 |  | 19,987 |  | 22,105
Leasing |  | - |  | - |  | 3,590 |  | - |  | 68 |  | 3,658 |  | 1,055,849 |  | 1,059,507
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Credit cards |  | - |  | - |  | 19,461 |  | - |  | - |  | 19,461 |  | 1,104,375 |  | 1,123,836
| HELOCs |  | - |  | - |  | 2,024 |  | - |  | 7,930 |  | 9,954 |  | 112,427 |  | 122,381
| Personal |  | 77 |  | - |  | 21,222 |  | - |  | 403 |  | 21,702 |  | 1,670,888 |  | 1,692,590
| Auto |  | - |  | - |  | 30,775 |  | - |  | 372 |  | 31,147 |  | 2,886,375 |  | 2,917,522
| Other |  | 459 |  | 11 |  | 15,020 |  | - |  | 53 |  | 15,543 |  | 126,014 |  | 141,557
| Total Consumer |  | 536 |  | 11 |  | 88,502 |  | - |  | 8,758 |  | 97,807 |  | 5,900,079 |  | 5,997,886
Total Popular, Inc. | $ | 1,511,493 | $ | 591,291 | $ | 996,694 | $ | 5,067 | $ | 8,842 | $ | 3,113,387 | $ | 24,293,486 | $ | 27,406,873
The following table presents the weighted average obligor risk rating at December 31, 2019 for those classifications that consider a range of rating scales.
Weighted average obligor risk rating | (Scales 11 and 12) |  |  |  | (Scales 1 through 8)
Puerto Rico: |  |  |  |  | Substandard |  |  |  |  |  |  | Pass |  |
Commercial multi-family |  |  |  |  |  | 11.82 |  |  |  |  |  |  |  | 6.02 |  |
Commercial real estate non-owner occupied |  |  |  |  |  | 11.17 |  |  |  |  |  |  |  | 6.77 |  |
Commercial real estate owner occupied |  |  |  |  |  | 11.36 |  |  |  |  |  |  |  | 7.30 |  |
Commercial and industrial |  |  |  |  |  | 11.26 |  |  |  |  |  |  |  | 7.20 |  |
| Total Commercial |  |  |  |  |  | 11.25 |  |  |  |  |  |  |  | 7.10 |  |
Construction |  |  |  |  |  | 11.01 |  |  |  |  |  |  |  | 7.85 |  |
Popular U.S.: |  |  |  |  | Substandard |  |  |  |  |  |  | Pass |  |
Commercial multi-family |  |  |  |  |  | 11.25 |  |  |  |  |  |  |  | 7.37 |  |
Commercial real estate non-owner occupied |  |  |  |  |  | 11.00 |  |  |  |  |  |  |  | 6.94 |  |
Commercial real estate owner occupied |  |  |  |  |  | 11.02 |  |  |  |  |  |  |  | 7.48 |  |
Commercial and industrial |  |  |  |  |  | 11.01 |  |  |  |  |  |  |  | 6.63 |  |
| Total Commercial |  |  |  |  |  | 11.02 |  |  |  |  |  |  |  | 7.04 |  |
Construction |  |  |  |  |  | 11.00 |  |  |  |  |  |  |  | 7.74 |  |
Legacy |  |  |  |  |  | 11.25 |  |  |  |  |  |  |  | 7.95 |  |
For changes in the allowance for credit losses, loan ending balances and whether such loans and the allowance pertained to loans individually or collectively evaluated for impairment for the year ended December 31, 2019, refer to the allowance activity section of this note. Impaired loans The following tables present loans individually evaluated for impairment at December 31, 2019.
December 31, 2019
Puerto Rico
| Impaired Loans – With an | Impaired Loans |  |  |  |  |  |
| Allowance | With No Allowance | Impaired Loans - Total
|  |  | Unpaid |  |  |  |  | Unpaid |  |  | Unpaid |  |
| Recorded | principal | Related | Recorded | principal | Recorded | principal |  | Related
(In thousands) | investment | balance | allowance | investment | balance | investment | balance |  | allowance
Commercial multi-family | $ | 1,196 | $ | 1,229 | $ | 4 | $ | 1,017 | $ | 1,247 | $ | 2,213 | $ | 2,476 | $ | 4
Commercial real estate non-owner occupied |  | 44,975 |  | 45,803 |  | 12,281 |  | 149,587 |  | 173,124 |  | 194,562 |  | 218,927 |  | 12,281
Commercial real estate owner occupied |  | 105,841 |  | 122,814 |  | 5,077 |  | 26,365 |  | 58,540 |  | 132,206 |  | 181,354 |  | 5,077
Commercial and industrial |  | 43,640 |  | 47,611 |  | 3,171 |  | 24,831 |  | 44,255 |  | 68,471 |  | 91,866 |  | 3,171
Construction |  | 119 |  | 119 |  | 6 |  | - |  | - |  | 119 |  | 119 |  | 6
Mortgage |  | 420,949 |  | 479,936 |  | 40,596 |  | 101,520 |  | 134,331 |  | 522,469 |  | 614,267 |  | 40,596
Leasing |  | 507 |  | 507 |  | 61 |  | - |  | - |  | 507 |  | 507 |  | 61
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit cards |  | 24,475 |  | 24,475 |  | 2,957 |  | - |  | - |  | 24,475 |  | 24,475 |  | 2,957
Personal |  | 65,521 |  | 65,521 |  | 17,142 |  | - |  | - |  | 65,521 |  | 65,521 |  | 17,142
Auto |  | 310 |  | 310 |  | 51 |  | - |  | - |  | 310 |  | 310 |  | 51
Other |  | 851 |  | 851 |  | 109 |  | - |  | - |  | 851 |  | 851 |  | 109
Total Puerto Rico | $ | 708,384 | $ | 789,176 | $ | 81,455 | $ | 303,320 | $ | 411,497 | $ | 1,011,704 | $ | 1,200,673 | $ | 81,455
December 31, 2019
Popular U.S.
| Impaired Loans – With an | Impaired Loans |  |  |  |  |  |
| Allowance | With No Allowance | Impaired Loans - Total
|  |  | Unpaid |  |  |  |  | Unpaid |  |  | Unpaid |  |
| Recorded | principal | Related | Recorded | principal | Recorded | principal | Related
(In thousands) | investment | balance | allowance | investment | balance | investment | balance | allowance
Commercial multi-family | $ | - | $ | - | $ | - | $ | 2,097 | $ | 2,539 | $ | 2,097 | $ | 2,539 | $ | -
Mortgage |  | 6,906 |  | 7,257 |  | 2,208 |  | 2,480 |  | 2,844 |  | 9,386 |  | 10,101 |  | 2,208
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOCs |  | 6,691 |  | 6,691 |  | 1,560 |  | 2,829 |  | 3,087 |  | 9,520 |  | 9,778 |  | 1,560
Personal |  | 26 |  | 26 |  | 3 |  | 88 |  | 88 |  | 114 |  | 114 |  | 3
Total Popular U.S. | $ | 13,623 | $ | 13,974 | $ | 3,771 | $ | 7,494 | $ | 8,558 | $ | 21,117 | $ | 22,532 | $ | 3,771
December 31, 2019
Popular, Inc.
| Impaired Loans – With an | Impaired Loans |  |  |  |  |  |
| Allowance | With No Allowance | Impaired Loans - Total
|  |  | Unpaid |  |  |  |  | Unpaid |  |  | Unpaid |  |
| Recorded | principal | Related | Recorded | principal | Recorded | principal | Related
(In thousands) | investment | balance | allowance | investment | balance | investment | balance | allowance
Commercial multi-family | $ | 1,196 | $ | 1,229 | $ | 4 | $ | 3,114 | $ | 3,786 | $ | 4,310 | $ | 5,015 | $ | 4
Commercial real estate non-owner occupied |  | 44,975 |  | 45,803 |  | 12,281 |  | 149,587 |  | 173,124 |  | 194,562 |  | 218,927 |  | 12,281
Commercial real estate owner occupied |  | 105,841 |  | 122,814 |  | 5,077 |  | 26,365 |  | 58,540 |  | 132,206 |  | 181,354 |  | 5,077
Commercial and industrial |  | 43,640 |  | 47,611 |  | 3,171 |  | 24,831 |  | 44,255 |  | 68,471 |  | 91,866 |  | 3,171
Construction |  | 119 |  | 119 |  | 6 |  | - |  | - |  | 119 |  | 119 |  | 6
Mortgage |  | 427,855 |  | 487,193 |  | 42,804 |  | 104,000 |  | 137,175 |  | 531,855 |  | 624,368 |  | 42,804
Leasing |  | 507 |  | 507 |  | 61 |  | - |  | - |  | 507 |  | 507 |  | 61
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit cards |  | 24,475 |  | 24,475 |  | 2,957 |  | - |  | - |  | 24,475 |  | 24,475 |  | 2,957
HELOCs |  | 6,691 |  | 6,691 |  | 1,560 |  | 2,829 |  | 3,087 |  | 9,520 |  | 9,778 |  | 1,560
Personal |  | 65,547 |  | 65,547 |  | 17,145 |  | 88 |  | 88 |  | 65,635 |  | 65,635 |  | 17,145
Auto |  | 310 |  | 310 |  | 51 |  | - |  | - |  | 310 |  | 310 |  | 51
Other |  | 851 |  | 851 |  | 109 |  | - |  | - |  | 851 |  | 851 |  | 109
Total Popular, Inc. | $ | 722,007 | $ | 803,150 | $ | 85,226 | $ | 310,814 | $ | 420,055 | $ | 1,032,821 | $ | 1,223,205 | $ | 85,226
The following table presents the average recorded investment and interest income recognized on impaired loans for the year ended December 31, 2019.
For the year ended December 31, 2019
| Puerto Rico |  | Popular U.S. |  | Popular, Inc.
| Average |  | Interest |  | Average |  | Interest |  | Average |  | Interest
| recorded |  | income |  | recorded |  | income |  | recorded |  | income
(In thousands) | investment |  | recognized |  | investment |  | recognized |  | investment |  | recognized
Commercial multi-family | $ | 1,470 |  | $ | 50 |  | $ | 1,343 |  | $ | - |  | $ | 2,813 |  | $ | 50
Commercial real estate non-owner occupied |  | 183,233 |  |  | 5,742 |  |  | - |  |  | - |  |  | 183,233 |  |  | 5,742
Commercial real estate owner occupied |  | 137,710 |  |  | 6,528 |  |  | 626 |  |  | - |  |  | 138,336 |  |  | 6,528
Commercial and industrial |  | 71,828 |  |  | 4,097 |  |  | - |  |  | - |  |  | 71,828 |  |  | 4,097
Construction |  | 1,151 |  |  | 25 |  |  | 9,248 |  |  | - |  |  | 10,399 |  |  | 25
Mortgage |  | 518,487 |  |  | 16,810 |  |  | 9,416 |  |  | 153 |  |  | 527,903 |  |  | 16,963
Leasing |  | 823 |  |  | - |  |  | - |  |  | - |  |  | 823 |  |  | -
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit cards |  | 26,775 |  |  | - |  |  | - |  |  | - |  |  | 26,775 |  |  | -
HELOCs |  | - |  |  | - |  |  | 8,988 |  |  | - |  |  | 8,988 |  |  | -
Personal |  | 69,664 |  |  | 282 |  |  | 380 |  |  | - |  |  | 70,044 |  |  | 282
Auto |  | 823 |  |  | - |  |  | - |  |  | - |  |  | 823 |  |  | -
Other |  | 1,044 |  |  | - |  |  | - |  |  | - |  |  | 1,044 |  |  | -
Total Popular, Inc. | $ | 1,013,008 |  | $ | 33,534 |  | $ | 30,001 |  | $ | 153 |  | $ | 1,043,009 |  | $ | 33,687

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