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Loans (Tables)

12 Months Ended

Dec. 31, 2021

Accounts, Notes, Loans and Financing Receivable

Purchased Financial Assets With Credit Deterioration

Purchased Credit Deteriorated (PCD) Loans

The Corporation has purchased loans during the year 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)		December 31, 2021		December 31, 2020
Purchase price of loans at acquisition	$	10,995	$	152,667
Allowance for credit losses at acquisition		3,142		7,512
Non-credit discount / (premium) at acquisition		446		(6,542)
Par value of acquired loans at acquisition	$	14,583	$	153,637

Net Financing Leases [Table Text Block]

(In thousands)			2021		2020
Total minimum lease payments		$	1,190,545	$	957,367
Estimated residual value of leased property			518,670		419,024
Deferred origination costs, net of fees			21,474		18,141
	Less - Unearned financing income		257,738		196,788
Net minimum lease payments			1,472,951		1,197,744
	Less - Allowance for credit losses		18,581		16,863
Net minimum lease payments, net of allowance for credit losses		$	1,454,370	$	1,180,881

Sales-type and Direct Financing Leases, Lease Receivable, Maturity [Table Text Block]

At December 31, 2021, future minimum lease payments are expected to be received as follows:

(In thousands)
2022	$	106,927
2023		123,654
2024		181,405
2025		216,577
2026		369,592
2027 and thereafter		192,390
Total	$	1,190,545

Loans Held in Portfolio

Accounts, Notes, Loans and Financing Receivable

Past due financing receivables

The following tables present the amortized cost basis of loans held-in-portfolio (“HIP”), net of unearned income, by past due status, and by loan class including those that are in non-performing status or that are accruing interest but are past due 90 days or more at December 31, 2021 and 2020.

December 31, 2021
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
Commercial multi-family		$	314		$	-		$	272	$	586		$	154,183		$	154,769			$	272		$	-
Commercial real estate:
	Non-owner occupied		2,399			136			20,716		23,251			2,266,672			2,289,923				20,716			-
	Owner occupied		3,329			278			54,335		57,942			1,365,787			1,423,729				54,335			-
Commercial and industrial			3,438			1,727			45,242		50,407			3,478,041			3,528,448				44,724			518
Construction			-			-			485		485			86,626			87,111				485			-
Mortgage			217,830			81,754			805,245		1,104,829			5,147,037			6,251,866				333,887			471,358
Leasing			9,240			2,037			3,102		14,379			1,366,940			1,381,319				3,102			-
Consumer:
	Credit cards		5,768			3,520			8,577		17,865			901,986			919,851				-			8,577
	Home equity lines of credit		46			-			23		69			3,502			3,571				-			23
	Personal		10,027			6,072			21,235		37,334			1,250,726			1,288,060				21,235			-
	Auto		59,128			15,019			23,085		97,232			3,314,955			3,412,187				23,085			-
	Other		432			714			12,621		13,767			110,781			124,548				12,448			173
Total		$	311,951		$	111,257		$	994,938	$	1,418,146		$	19,447,236		$	20,865,382			$	514,289		$	480,649

December 31, 2021
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			$	3,826		$	-		$	-		$	3,826		$	1,804,035		$	1,807,861			$	-		$	-
Commercial real estate:
	Non-owner occupied			5,721			683			622			7,026			2,316,441			2,323,467				622			-
	Owner occupied			1,095			-			1,013			2,108			392,265			394,373				1,013			-
Commercial and industrial				9,410			2,680			4,015			16,105			1,794,026			1,810,131				3,897			118
Construction				-			-			-			-			629,109			629,109				-			-
Mortgage				11,711			2,573			21,969			36,253			1,139,077			1,175,330				21,969			-
Consumer:
	Credit cards			-			-			-			-			10			10				-			-
	Home equity lines of credit			71			34			5,406			5,511			69,780			75,291				5,406			-
	Personal			863			574			681			2,118			152,827			154,945				681			-
	Other			-			-			-			-			4,658			4,658				-			-
Total			$	32,697		$	6,544		$	33,706		$	72,947		$	8,302,228		$	8,375,175			$	33,588		$	118

December 31, 2021
Popular, Inc.

			Past due																	Past due 90 days or more
		30-59			60-89			90 days		Total										Non-accrual				Accruing
(In thousands)		days			days			or more		past due			Current			Loans HIP^{[2] [3]}				loans			loans
Commercial multi-family		$	4,140		$	-		$	272	$	4,412		$	1,958,218		$	1,962,630			$	272		$	-
Commercial real estate:
	Non-owner occupied		8,120			819			21,338		30,277			4,583,113			4,613,390				21,338			-
	Owner occupied		4,424			278			55,348		60,050			1,758,052			1,818,102				55,348			-
Commercial and industrial			12,848			4,407			49,257		66,512			5,272,067			5,338,579				48,621			636
Construction			-			-			485		485			715,735			716,220				485			-
Mortgage^[1]			229,541			84,327			827,214		1,141,082			6,286,114			7,427,196				355,856			471,358
Leasing			9,240			2,037			3,102		14,379			1,366,940			1,381,319				3,102			-
Consumer:
	Credit cards		5,768			3,520			8,577		17,865			901,996			919,861				-			8,577
	Home equity lines of credit		117			34			5,429		5,580			73,282			78,862				5,406			23
	Personal		10,890			6,646			21,916		39,452			1,403,553			1,443,005				21,916			-
	Auto		59,128			15,019			23,085		97,232			3,314,955			3,412,187				23,085			-
	Other		432			714			12,621		13,767			115,439			129,206				12,448			173
Total		$	344,648		$	117,801		$	1,028,644	$	1,491,093		$	27,749,464		$	29,240,557			$	547,877		$	480,767

[1]	It is the Corporation’s policy to report delinquent residential mortgage loans insured by Federal Housing Administration (“FHA”) or guaranteed by the U.S. Department of Veterans Affairs (“VA”) as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. The balance of these loans includes $13 million at December 31, 2021 related to the rebooking of loans previously pooled into GNMA securities, in which the Corporation had a buy-back option as further described below. 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 repurchases option are required to be reflected (rebooked) on the financial statements of BPPR with an offsetting liability. These balances include $304 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of December 31, 2021. Furthermore, the Corporation has approximately $50 million in reverse mortgage loans which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets.
[2]	Loans held-in-portfolio are net of $266 million in unearned income and exclude $59 million in loans held-for-sale.
[3]	Includes $6.6 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $3.2 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings and $1.7 billion at the Federal Reserve Bank ("FRB") for discount window borrowings and $1.7 billion serve as collateral for public funds.

December 31, 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		past due		Current			Loans HIP				loans			loans
Commercial multi-family		$	796		$	-		$	505		$	1,301	$	150,979		$	152,280			$	505		$	-
Commercial real estate:
	Non-owner occupied		2,189			3,503			77,137			82,829		1,924,504			2,007,333				77,137			-
	Owner occupied		8,270			1,218			92,001			101,489		1,497,406			1,598,895				92,001			-
Commercial and industrial			10,223			775			35,012			46,010		4,183,098			4,229,108				34,449			563
Construction			-			-			21,497			21,497		135,609			157,106				21,497			-
Mortgage^[1]			195,602			87,726			1,428,824			1,712,152		5,057,991			6,770,143				414,343			1,014,481
Leasing			9,141			1,427			3,441			14,009		1,183,652			1,197,661				3,441			-
Consumer:
	Credit cards		6,550			4,619			12,798			23,967		895,968			919,935				-			12,798
	Home equity lines of credit		184			-			48			232		3,947			4,179				-			48
	Personal		11,255			8,097			26,387			45,739		1,232,008			1,277,747				26,387			-
	Auto		53,186			12,696			15,736			81,618		3,050,610			3,132,228				15,736			-
	Other		304			483			15,052			15,839		110,826			126,665				14,881			171
Total		$	297,700		$	120,544		$	1,728,438		$	2,146,682	$	19,426,598		$	21,573,280			$	700,377		$	1,028,061
[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. These include $57 million in loans rebooked under the GNMA program at December 31, 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.

December 31, 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			$	5,273		$	-		$	1,894		$	7,167		$	1,736,544		$	1,743,711			$	1,894		$	-
Commercial real estate:
	Non-owner occupied			924			3,640			669			5,233			1,988,577			1,993,810				669			-
	Owner occupied			191			650			334			1,175			343,205			344,380				334			-
Commercial and industrial				1,117			72			3,091			4,280			1,540,513			1,544,793				3,091			-
Construction				21,312			-			7,560			28,872			740,230			769,102				7,560			-
Mortgage				33,422			15,464			14,864			63,750			1,056,787			1,120,537				14,864			-
Consumer:
	Credit cards			-			-			3			3			28			31				-			3
	Home equity lines of credit			236			342			7,491			8,069			86,502			94,571				7,491			-
	Personal			1,486			1,342			1,474			4,302			194,936			199,238				1,474			-
	Other			-			-			20			20			1,723			1,743				20			-
Total			$	63,961		$	21,510		$	37,400		$	122,871		$	7,689,045		$	7,811,916			$	37,397		$	3

December 31, 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		past due		Current			Loans HIP^{[2] [3]}				loans			loans
Commercial multi-family		$	6,069		$	-		$	2,399	$	8,468		$	1,887,523		$	1,895,991			$	2,399		$	-
Commercial real estate:
	Non-owner occupied		3,113			7,143			77,806		88,062			3,913,081			4,001,143				77,806			-
	Owner occupied		8,461			1,868			92,335		102,664			1,840,611			1,943,275				92,335			-
Commercial and industrial			11,340			847			38,103		50,290			5,723,611			5,773,901				37,540			563
Construction			21,312			-			29,057		50,369			875,839			926,208				29,057			-
Mortgage^[1]			229,024			103,190			1,443,688		1,775,902			6,114,778			7,890,680				429,207			1,014,481
Leasing			9,141			1,427			3,441		14,009			1,183,652			1,197,661				3,441			-
Consumer:
	Credit cards		6,550			4,619			12,801		23,970			895,996			919,966				-			12,801
	Home equity lines of credit		420			342			7,539		8,301			90,449			98,750				7,491			48
	Personal		12,741			9,439			27,861		50,041			1,426,944			1,476,985				27,861			-
	Auto		53,186			12,696			15,736		81,618			3,050,610			3,132,228				15,736			-
	Other		304			483			15,072		15,859			112,549			128,408				14,901			171
Total		$	361,661		$	142,054		$	1,765,838	$	2,269,553		$	27,115,643		$	29,385,196			$	737,774		$	1,028,064

[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. The balance of these loans includes $57 million at December 31, 2020 related to the rebooking of loans previously pooled into GNMA securities, in which the Corporation had a buy-back option as further described below. 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 repurchases option are required to be reflected (rebooked) on the financial statements of BPPR with an offsetting liability. These balances include $329 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of December 31, 2020. Furthermore, the Corporation has approximately $60 million in reverse mortgage loans which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets.
[2]	Loans held-in-portfolio are net of $203 million in unearned income and exclude $99 million in loans held-for-sale.
[3]	Includes $6.5 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $4.1 billion were pledged at the FHLB as collateral for borrowings and $2.4 billion at the FRB for discount window borrowings.

Financing receivable non accrual status

December 31, 2021
	Puerto Rico					Popular U.S.					Popular, Inc.
(In thousands)	Non-accrual with no allowance		Non-accrual with allowance			Non-accrual with no allowance		Non-accrual with allowance			Non-accrual with no allowance		Non-accrual with allowance
Commercial multi-family	$	-	$	272		$	-	$	-		$	-	$	272
Commercial real estate non-owner occupied		15,819		4,897			-		622			15,819		5,519
Commercial real estate owner occupied		13,491		40,844			-		1,013			13,491		41,857
Commercial and industrial		30,177		14,547			-		3,897			30,177		18,444
Construction		-		485			-		-			-		485
Mortgage		169,827		164,060			29		21,940			169,856		186,000
Leasing		276		2,826			-		-			276		2,826
Consumer:
HELOCs		-		-			-		5,406			-		5,406
Personal		6,279		14,956			81		600			6,360		15,556
Auto		879		22,206			-		-			879		22,206
Other		-		12,448			-		-			-		12,448
Total	$	236,748	$	277,541		$	110	$	33,478		$	236,858	$	311,019

December 31, 2020
	Puerto Rico					Popular U.S.					Popular, Inc.
(In thousands)	Non-accrual with no allowance		Non-accrual with allowance			Non-accrual with no allowance		Non-accrual with allowance			Non-accrual with no allowance		Non-accrual with allowance
Commercial multi-family	$	-	$	505		$	-	$	1,894		$	-	$	2,399
Commercial real estate non-owner occupied		35,968		41,169			-		669			35,968		41,838
Commercial real estate owner occupied		14,825		77,176			-		334			14,825		77,510
Commercial and industrial		1,148		33,301			-		3,091			1,148		36,392
Construction		-		21,497			-		7,560			-		29,057
Mortgage		141,737		272,606			517		14,347			142,254		286,953
Leasing		-		3,441			-		-			-		3,441
Consumer:
HELOCs		-		-			-		7,491			-		7,491
Personal		9,265		17,122			-		1,474			9,265		18,596
Auto		-		15,736			-		-			-		15,736
Other		-		14,881			-		20			-		14,901
Total	$	202,943	$	497,434		$	517	$	36,880		$	203,460	$	534,314

Collateral dependent financial assets

		December 31, 2021
(In thousands)			Real Estate		Auto		Equipment		Accounts Receivables		Other		Total
Puerto Rico
Commercial multi-family		$	1,374	$	-	$	-	$	-	$	-	$	1,374
Commercial real estate:
	Non-owner occupied		211,026		-		-		-		-		211,026
	Owner occupied		47,268		-		-		-		-		47,268
Commercial and industrial			2,650		-		680		10,675		27,893		41,898
Mortgage			179,774		-		-		-		-		179,774
Leasing			-		574		-		-		-		574
Consumer:
	Personal		6,165		-		-		-		-		6,165
	Auto		-		8,983		-		-		-		8,983
Total Puerto Rico		$	448,257	$	9,557	$	680	$	10,675	$	27,893	$	497,062
Popular U.S.
Mortgage			926		-		-		-		-		926
Total Popular U.S.		$	926	$	-	$	-	$	-	$	-	$	926
Popular, Inc.
Commercial multi-family		$	1,374	$	-	$	-	$	-	$	-	$	1,374
Commercial real estate:
	Non-owner occupied		211,026		-		-		-		-		211,026
	Owner occupied		47,268		-		-		-		-		47,268
Commercial and industrial			2,650		-		680		10,675		27,893		41,898
Mortgage			180,700		-		-		-		-		180,700
Leasing			-		574		-		-		-		574
Consumer:
	Personal		6,165		-		-		-		-		6,165
	Auto		-		8,983		-		-		-		8,983
Total Popular, Inc.		$	449,183	$	9,557	$	680	$	10,675	$	27,893	$	497,988

		December 31, 2020
(In thousands)			Real Estate		Auto		Equipment		Taxi Medallions		Accounts Receivables		Other		Total
Puerto Rico
Commercial multi-family		$	1,301	$	-	$	-	$	-	$	-	$	-	$	1,301
Commercial real estate:
	Non-owner occupied		299,223		-		-		-		-		-		299,223
	Owner occupied		79,769		-		-		-		-		-		79,769
Commercial and industrial			7,577		-		1,438		-		10,989		12,046		32,050
Construction			21,497		-		-		-		-		-		21,497
Mortgage			181,648		-		-		-		-		-		181,648
Consumer:
	Personal		7,414		-		-		-		-		-		7,414
	Auto		-		4		-		-		-		-		4
Total Puerto Rico		$	598,429	$	4	$	1,438	$	-	$	10,989	$	12,046	$	622,906
Popular U.S.
Commercial multi-family		$	1,755	$	-	$	-	$	-	$	-	$	-	$	1,755
Commercial and industrial			-		-		-		1,545		-		-		1,545
Construction			7,560		-		-		-		-		-		7,560
Mortgage			855		-		-		-		-		-		855
Total Popular U.S.		$	10,170	$	-	$	-	$	1,545	$	-	$	-	$	11,715
Popular, Inc.
Commercial multi-family		$	3,056	$	-	$	-	$	-	$	-	$	-	$	3,056
Commercial real estate:
	Non-owner occupied		299,223		-		-		-		-		-		299,223
	Owner occupied		79,769		-		-		-		-		-		79,769
Commercial and industrial			7,577		-		1,438		1,545		10,989		12,046		33,595
Construction			29,057		-		-		-		-		-		29,057
Mortgage			182,503		-		-		-		-		-		182,503
Consumer:
	Personal		7,414		-		-		-		-		-		7,414
	Auto		-		4		-		-		-		-		4
Total Popular, Inc.		$	608,599	$	4	$	1,438	$	1,545	$	10,989	$	12,046	$	634,621