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Allowance for credit losses - loans held-in-portfolio | 12 Months Ended
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Dec. 31, 2022
Allowance for credit losses [Abstract] |
Allowance for credit losses | Note 9 – 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 be recorded as an increase to the purchase price, with subsequent changes to the allowance recorded as a credit loss expense. The provision for credit losses recorded in current operations is based on this methodology. Loan losses are charged and recoveries are credited to the ACL. At December 31, 2022, the Corporation estimated the ACL by weighting the outputs of optimistic, baseline, and pessimistic scenarios. Among the three scenarios used to estimate the ACL, the baseline is assigned the highest probability, followed by the pessimistic scenario given the uncertainties in the economic outlook and downside risk. The weightings applied are subject to evaluation on a quarterly basis as part of the ACL’s governance process. The Corporation evaluates, at least on an annual basis, the assumptions tied to the CECL accounting framework. These include the reasonable and supportable period as well as the reversion window. During the third quarter of 2022, as part of its evaluation procedures, the Corporation decided to extend the reversion window from 1 year to 3 years. The extension in the reversion window results in a better representation of historical movements for key macroeconomic variables that impact the ACL. This change in assumptions contributed to a reduction of $ 11 million in the ACL. The reasonable and supportable period assumptions remained unchanged at 2- years. The baseline scenario assumes a 2023 annualized GDP growth for Puerto Rico and the United States of 1.3% and 0.7%. For 2022 annualized expected growth was 2.6% and 1.8% for Puerto Rico and United States, respectively. The reduction in 2023 is due to the expected slowdown in the economy as a result of tight monetary policy, weaker job growth and persistent inflation. The 2023 average unemployment rate is forecasted at 7.8% and 4.0% for Puerto Rico and United States, respectively, compared to 2022 average level 6.4% for Puerto Rico and 3.7% for the United States. In 2023, weaker job growth due to the expected slowdown in the economy will contribute to an increase in the unemployment rate. The following tables present the changes in the ACL of loans held-in-portfolio and unfunded commitments for the years ended December 31, 2022 and 2021. For the year ended December 31, 2022 BPPR (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 151,928 $ 1,641 $ 138,286 $ 17,578 $ 284,729 $ 594,162 Provision for credit losses (benefit) 11,475 526 (37,600) 6,832 88,311 69,544 Initial allowance for credit losses - PCD Loans - - 915 - - 915 Charge-offs (7,238) - (5,105) (7,107) (106,752) (126,202) Recoveries 18,130 811 20,848 3,315 34,022 77,126 Ending balance - loans $ 174,295 $ 2,978 $ 117,344 $ 20,618 $ 300,310 $ 615,545 Allowance for credit losses - unfunded commitments: Beginning balance $ 1,751 $ 2,388 $ - $ - $ - $ 4,139 Provision for credit losses (benefit) 2,585 (366) - - - 2,219 Ending balance - unfunded commitments [1] $ 4,336 $ 2,022 $ - $ - $ - $ 6,358 [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, 2022 Popular U.S. (In thousands) Commercial Construction Mortgage Consumer Total Allowance for credit losses - loans: Beginning balance $ 63,877 $ 4,722 $ 16,192 $ 16,413 $ 101,204 Provision for credit losses (benefit) 4,597 (4,586) 1,706 12,046 13,763 Charge-offs (10,012) - (68) (8,036) (18,116) Recoveries 2,619 1,132 80 4,075 7,906 Ending balance - loans $ 61,081 $ 1,268 $ 17,910 $ 24,498 $ 104,757 Allowance for credit losses - unfunded commitments: Beginning balance $ 1,384 $ 2,337 $ - $ 37 $ 3,758 Provision for credit losses (benefit) (209) (1,153) - 51 (1,311) Ending balance - unfunded commitments [1] $ 1,175 $ 1,184 $ - $ 88 $ 2,447 [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, 2022 Popular, Inc. (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 215,805 $ 6,363 $ 154,478 $ 17,578 $ 301,142 $ 695,366 Provision for credit losses (benefit) 16,072 (4,060) (35,894) 6,832 100,357 83,307 Initial allowance for credit losses - PCD Loans - - 915 - - 915 Charge-offs (17,250) - (5,173) (7,107) (114,788) (144,318) Recoveries 20,749 1,943 20,928 3,315 38,097 85,032 Ending balance - loans $ 235,376 $ 4,246 $ 135,254 $ 20,618 $ 324,808 $ 720,302 Allowance for credit losses - unfunded commitments: Beginning balance $ 3,135 $ 4,725 $ - $ - $ 37 $ 7,897 Provision for credit losses (benefit) 2,376 (1,519) - - 51 908 Ending balance - unfunded commitments [1] $ 5,511 $ 3,206 $ - $ - $ 88 $ 8,805 [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, 2021 BPPR (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 225,323 $ 4,871 $ 195,557 $ 16,863 $ 297,136 $ 739,750 Provision for credit losses (benefit) (91,695) (1,533) (57,684) 2,094 19,800 (129,018) Initial allowance for credit losses - PCD Loans - - 3,142 - - 3,142 Charge-offs (17,180) (6,620) (17,656) (4,637) (78,047) (124,140) Recoveries 35,480 4,923 14,927 3,258 45,840 104,428 Ending balance - loans $ 151,928 $ 1,641 $ 138,286 $ 17,578 $ 284,729 $ 594,162 Allowance for credit losses - unfunded commitments: Beginning balance $ 4,913 $ 4,610 $ - $ - $ - $ 9,523 Provision for credit losses (benefit) (3,162) (2,222) - - - (5,384) Ending balance - unfunded commitments [1] $ 1,751 $ 2,388 $ - $ - $ - $ 4,139 [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, 2021 Popular U.S. (In thousands) Commercial Construction Mortgage Consumer Total Allowance for credit losses - loans: Beginning balance $ 108,057 $ 9,366 $ 20,159 $ 18,918 $ 156,500 Provision for credit losses (benefit) (45,427) (4,764) (3,949) (187) (54,327) Charge-offs (1,177) (523) (605) (8,732) (11,037) Recoveries 2,424 643 587 6,414 10,068 Ending balance - loans $ 63,877 $ 4,722 $ 16,192 $ 16,413 $ 101,204 Allowance for credit losses - unfunded commitments: Beginning balance $ 1,753 $ 4,469 $ - $ 106 $ 6,328 Provision for credit losses (benefit) (369) (2,132) - (69) (2,570) Ending balance - unfunded commitments [1] $ 1,384 $ 2,337 $ - $ 37 $ 3,758 [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, 2021 Popular, Inc. (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 333,380 $ 14,237 $ 215,716 $ 16,863 $ 316,054 $ 896,250 Provision for credit losses (benefit) (137,122) (6,297) (61,633) 2,094 19,613 (183,345) Initial allowance for credit losses - PCD Loans - - 3,142 - - 3,142 Charge-offs (18,357) (7,143) (18,261) (4,637) (86,779) (135,177) Recoveries 37,904 5,566 15,514 3,258 52,254 114,496 Ending balance - loans $ 215,805 $ 6,363 $ 154,478 $ 17,578 $ 301,142 $ 695,366 Allowance for credit losses - unfunded commitments: Beginning balance $ 6,666 $ 9,079 $ - $ - $ 106 $ 15,851 Provision for credit losses (benefit) (3,531) (4,354) - - (69) (7,954) Ending balance - unfunded commitments [1] $ 3,135 $ 4,725 $ - $ - $ 37 $ 7,897 [1] Allowance for credit losses of unfunded commitments is presented as part of Other Liabilities in the Consolidated Statements of Financial Condition. Modifications A modification 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 $ 1.6 billion at December 31, 2022 (December 31, 2021 - $ 1.7 billion). The amount of outstanding commitments to lend additional funds to debtors owing receivables whose terms have been modified in TDRs amounted to $ 12 million related to the commercial loan portfolio at December 31, 2022 (December 31, 2021 - $ 9 million). The following table presents the outstanding balance of loans classified as TDRs according to their accruing status and the related allowance at December 31, 2022 and 2021. The Corporation has offered to clients impacted by the hurricanes Fiona a moratorium of up to three monthly payments on personal and commercial credit cards, auto loans, leases, and personal loans, subject to certain eligibility requirements. Mortgage clients also benefited from different payment relief alternatives available, depending on their type of loan. Loan relief options for commercial clients were reviewed on a case-by-case basis. As of December 31, 2022, approximately 2,428 loans with a $94.8 loans amortized cost were granted a moratorium of which 218 loans with a $7.7 million amortized cost have been classified as TDR. December 31, 2022 December 31, 2021 (In thousands) Accruing Non- Accruing Total Related Allowance Accruing Non- Accruing Total Related Allowance Loans held-in-portfolio: Commercial $ 269,784 $ 54,641 $ 324,425 $ 18,451 $ 261,344 $ 64,744 $ 326,088 $ 24,736 Mortgage [1] 1,169,976 86,790 1,256,766 58,819 1,143,204 112,509 1,255,713 61,888 Leasing 1,154 24 1,178 43 325 47 372 42 Consumer 54,395 7,883 62,278 13,577 64,093 10,556 74,649 16,124 Loans held-in-portfolio $ 1,495,309 $ 149,338 $ 1,644,647 $ 90,890 $ 1,468,966 $ 187,856 $ 1,656,822 $ 102,790 [1] At December 31, 2022, accruing mortgage loan TDRs include $ 725 million guaranteed by U.S. sponsored entities at BPPR, compared to $ 716 million at December 31, 2021. The following tables present the loan count by type of modification for those loans modified in a TDR during the years ended December 31, 2022 and 2021. Loans modified as TDRs for the U.S. operations are considered insignificant to the Corporation. For the year ended December 31, 2022 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial real estate non-owner occupied - 2 2 4 Commercial real estate owner occupied 3 10 1 14 Commercial and industrial 4 9 1 16 Mortgage 7 217 881 5 Leasing - 2 1 34 Consumer: Credit cards 48 - - 48 HELOCs - - 1 - Personal 111 111 3 40 Auto - 1 - 129 Other 1 - - - Total 174 352 890 290 For the year ended December 31, 2021 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial multi-family - 1 1 - Commercial real estate non-owner occupied - 11 1 - Commercial real estate owner occupied 4 23 4 12 Commercial and industrial 5 13 - 21 Mortgage 39 140 1,590 5 Leasing - - 2 - Consumer: Credit cards 134 - 1 43 HELOCs - 1 1 - Personal 183 117 1 2 Auto - 7 3 - Other 7 - - 1 Total 372 313 1,604 84 During the year ended December 31, 2022, three loans with an aggregate unpaid principal balance of $ 2.7 million were restructured into multiple notes (“Note A / B split”) , compared to five loans with an aggregate unpaid principal balance of $ 10.2 million during the year ended December 31, 2021. No charge-offs were recorded as part of Note A / B splits during 2022 and 2021. 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, quantitative information related to loans modified as TDRs during the years ended December 31, 2022 and 2021. Popular, Inc. For the year ended December 31, 2022 (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 real estate non-owner occupied 8 $ 6,530 $ 6,527 $ 60 Commercial real estate owner occupied 28 19,192 19,165 (2,078) Commercial and industrial 30 51,139 50,929 2,120 Mortgage 1,110 128,581 125,875 4,447 Leasing 37 1,181 1,180 13 Consumer: Credit cards 96 866 898 10 HELOCs 1 245 236 67 Personal 265 3,581 3,479 671 Auto 130 1,631 1,631 5 Other 1 8 8 1 Total 1,706 $ 212,954 $ 209,928 $ 5,316 Popular, Inc. For the year ended December 31, 2021 (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 $ 246 $ 211 $ 26 Commercial real estate non-owner occupied 12 3,612 3,604 177 Commercial real estate owner occupied 43 95,354 90,096 1,577 Commercial and industrial 39 6,573 5,719 745 Mortgage 1,774 213,661 214,367 6,632 Leasing 2 40 38 5 Consumer: Credit cards 178 2,223 2,136 42 HELOCs 2 176 228 54 Personal 303 4,222 4,217 899 Auto 10 199 206 65 Other 8 305 303 124 Total 2,373 $ 326,611 $ 321,125 $ 10,346 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, 2022 (Dollars in thousands) Loan count Recorded investment as of first default date Commercial real estate owner occupied 2 $ 620 Commercial and industrial 7 6,639 Mortgage 75 9,391 Leasing 1 5 Consumer: Credit cards 29 249 Personal 49 918 Total 163 $ 17,822 Defaulted during the year ended December 31, 2021 (Dollars in thousands) Loan count Recorded investment as of first default date Commercial real estate non-owner occupied 4 $ 8,421 Commercial real estate owner occupied 4 4,500 Commercial and industrial 5 317 Mortgage 104 10,543 Consumer: Credit cards 81 979 Personal 27 723 Total 225 $ 25,483 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 tables present the amortized cost basis, net of unearned income, of loans held-in-portfolio based on the Corporation’s assignment of obligor risk ratings as defined at December 31, 2022 and 2021 by vintage year. December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total BPPR Commercial: Commercial multi-family Watch $ - $ - $ - $ 18,508 $ - $ 4,687 $ - $ - $ 23,195 Special mention - - - - - 2,692 - - 2,692 Substandard - - - - - 3,326 100 - 3,426 Pass 137,411 22,850 20,821 16,145 24,640 30,193 - - 252,060 Total commercial multi-family $ 137,411 $ 22,850 $ 20,821 $ 34,653 $ 24,640 $ 40,898 $ 100 $ - $ 281,373 Commercial real estate non-owner occupied Watch $ 173 $ 36,228 $ 14,045 $ 14,942 $ 7,777 $ 99,269 $ - $ - $ 172,434 Special Mention - 4,361 19,970 7,517 - 25,540 - - 57,388 Substandard 8,933 - 3,209 19,004 25,490 21,064 - - 77,700 Pass 855,839 585,690 294,086 94,056 35,105 568,893 16,136 - 2,449,805 Total commercial real estate non- owner occupied $ 864,945 $ 626,279 $ 331,310 $ 135,519 $ 68,372 $ 714,766 $ 16,136 $ - $ 2,757,327 Commercial real estate owner occupied Watch $ 2,296 $ 5,271 $ 9,447 $ 4,275 $ 31,649 $ 71,568 $ - $ - $ 124,506 Special Mention 10 284 1,684 6,578 1,076 61,460 - - 71,092 Substandard 16,205 6,177 802 800 770 84,205 - - 108,959 Doubtful - - - - - 505 - - 505 Pass 227,404 258,473 274,333 30,691 68,029 407,322 16,742 - 1,282,994 Total commercial real estate owner occupied $ 245,915 $ 270,205 $ 286,266 $ 42,344 $ 101,524 $ 625,060 $ 16,742 $ - $ 1,588,056 Commercial and industrial Watch $ 32,376 $ 2,185 $ 15,493 $ 18,829 $ 15,483 $ 51,602 $ 56,508 $ - $ 192,476 Special Mention 2,537 2,479 5,770 1,139 6,767 46,040 6,283 - 71,015 Substandard 789 1,276 1,600 3,138 11,536 40,636 46,226 - 105,201 Doubtful - - 29 - 75 75 - - 179 Loss - - - - - - 144 - 144 Pass 793,662 684,647 211,013 177,265 65,197 292,173 1,203,536 - 3,427,493 Total commercial and industrial $ 829,364 $ 690,587 $ 233,905 $ 200,371 $ 99,058 $ 430,526 $ 1,312,697 $ - $ 3,796,508 Construction Watch $ 35,446 $ 3,116 $ 98 $ - $ - $ - $ 141 $ - $ 38,801 Substandard - - 9,629 - - - $ - - 9,629 Pass 13,044 34,387 15,961 2,262 - - 32,957 - 98,611 Total construction $ 48,490 $ 37,503 $ 25,688 $ 2,262 $ - $ - $ 33,098 $ - $ 147,041 Mortgage Substandard $ - $ 574 $ 687 $ 3,926 $ 4,227 $ 93,959 $ - $ - $ 103,373 Pass 449,286 451,027 285,026 204,170 237,007 4,380,390 - - 6,006,906 Total mortgage $ 449,286 $ 451,601 $ 285,713 $ 208,096 $ 241,234 $ 4,474,349 $ - $ - $ 6,110,279 Leasing Substandard $ 953 $ 1,491 $ 941 $ 1,172 $ 1,127 $ 215 $ - $ - $ 5,899 Loss - - - 21 - 21 - - 42 Pass 672,294 428,889 237,939 146,231 79,451 14,994 - - 1,579,798 Total leasing $ 673,247 $ 430,380 $ 238,880 $ 147,424 $ 80,578 $ 15,230 $ - $ - $ 1,585,739 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total BPPR Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 11,907 $ - $ 11,907 Loss - - - - - - 3 - 3 Pass - - - - - - 1,029,921 - 1,029,921 Total credit cards $ - $ - $ - $ - $ - $ - $ 1,041,831 $ - $ 1,041,831 HELOCs Pass $ - $ - $ - $ - $ - $ - $ 2,954 $ - $ 2,954 Total HELOCs $ - $ - $ - $ - $ - $ - $ 2,954 $ - $ 2,954 Personal Substandard $ 1,330 $ 2,001 $ 764 $ 1,774 $ 503 $ 10,831 $ - $ 1,285 $ 18,488 Loss - - 53 20 31 10 - 1 115 Pass 841,564 320,809 103,337 117,568 46,555 109,543 - 27,708 1,567,084 Total Personal $ 842,894 $ 322,810 $ 104,154 $ 119,362 $ 47,089 $ 120,384 $ - $ 28,994 $ 1,585,687 Auto Substandard $ 6,764 $ 11,171 $ 10,466 $ 10,243 $ 4,597 $ 2,382 $ - $ - $ 45,623 Loss 23 41 48 25 7 14 - - 158 Pass 1,156,654 961,571 588,200 426,169 248,328 85,827 - - 3,466,749 Total Auto $ 1,163,441 $ 972,783 $ 598,714 $ 436,437 $ 252,932 $ 88,223 $ - $ - $ 3,512,530 Other consumer Substandard $ - $ - $ 100 $ 593 $ 543 $ 242 $ 10,902 $ - $ 12,380 Loss - - - - 263 40 - - 303 Pass 29,557 17,439 6,967 4,201 4,553 1,942 60,238 - 124,897 Total Other consumer $ 29,557 $ 17,439 $ 7,067 $ 4,794 $ 5,359 $ 2,224 $ 71,140 $ - $ 137,580 Total Puerto Rico $ 5,284,550 $ 3,842,437 $ 2,132,518 $ 1,331,262 $ 920,786 $ 6,511,660 $ 2,494,698 $ 28,994 $ 22,546,905 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular U.S. Commercial: Commercial multi-family Watch $ 750 $ 917 $ 6,218 $ 85,579 $ 9,633 $ 52,835 $ - $ - $ 155,932 Special mention - - 1,198 - 14,491 8,372 - - 24,061 Substandard - - - 9,305 7,373 2,941 - - 19,619 Pass 503,010 399,397 238,903 210,295 138,723 347,615 2,785 - 1,840,728 Total commercial multi-family $ 503,760 $ 400,314 $ 246,319 $ 305,179 $ 170,220 $ 411,763 $ 2,785 $ - $ 2,040,340 Commercial real estate non-owner occupied Watch $ - $ 2,167 $ 13,622 $ 3,355 $ 26,931 $ 29,849 $ - $ - $ 75,924 Special Mention - - - 1,353 - 75,269 - - 76,622 Substandard - 2,864 2,149 3,220 1,429 4,722 - - 14,384 Pass 552,258 209,338 211,449 109,781 100,065 383,409 9,113 - 1,575,413 Total commercial real estate non- owner occupied $ 552,258 $ 214,369 $ 227,220 $ 117,709 $ 128,425 $ 493,249 $ 9,113 $ - $ 1,742,343 Commercial real estate owner occupied Watch $ - $ - $ 1,197 $ 1,079 $ 6,095 $ 55,005 $ - $ - $ 63,376 Special Mention - - 3,886 - - 901 - - 4,787 Substandard - - - 7,403 11,165 33,586 - - 52,154 Pass 363,655 422,959 114,988 82,971 119,565 258,881 7,157 - 1,370,176 Total commercial real estate owner occupied $ 363,655 $ 422,959 $ 120,071 $ 91,453 $ 136,825 $ 348,373 $ 7,157 $ - $ 1,490,493 Commercial and industrial Watch $ 12,328 $ 2,218 $ 2,022 $ 2,049 $ 8,438 $ 532 $ 4,291 $ - $ 31,878 Special Mention 1,262 1,130 314 244 60 - 3 - 3,013 Substandard 260 935 74 4,278 315 1,829 1,408 - 9,099 Loss 292 525 1 75 192 3 - - 1,088 Pass 185,318 341,855 368,398 202,301 171,528 376,045 352,169 - 1,997,614 Total commercial and industrial $ 199,460 $ 346,663 $ 370,809 $ 208,947 $ 180,533 $ 378,409 $ 357,871 $ - $ 2,042,692 Construction Watch $ - $ 12,085 $ - $ 6,979 $ 18,310 $ 34,126 $ - $ - $ 71,500 Special Mention - 3 - - - - - - 3 Substandard - - 1,423 - 6,540 2,095 - - 10,058 Pass 164,272 146,062 91,486 93,118 10,863 23,581 - - 529,382 Total construction $ 164,272 $ 158,150 $ 92,909 $ 100,097 $ 35,713 $ 59,802 $ - $ - $ 610,943 Mortgage Substandard $ - $ 2,009 $ 3,478 $ 4,048 $ 1,156 $ 9,798 $ - $ - $ 20,489 Pass 236,595 303,204 243,468 183,846 58,026 241,564 - - 1,266,703 Total mortgage $ 236,595 $ 305,213 $ 246,946 $ 187,894 $ 59,182 $ 251,362 $ - $ - $ 1,287,192 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular U.S. Consumer: Credit cards Pass $ - $ - $ - $ - $ - $ - $ 39 $ - $ 39 Total credit cards $ - $ - $ - $ - $ - $ - $ 39 $ - $ 39 HELOCs Substandard $ - $ - $ - $ - $ - $ 2,146 $ 20 $ 1,402 $ 3,568 Loss - - - - - 4 - 538 542 Pass - - - - - 9,169 41,724 13,959 64,852 Total HELOCs $ - $ - $ - $ - $ - $ 11,319 $ 41,744 $ 15,899 $ 68,962 Personal Substandard $ 621 $ 454 $ 149 $ 238 $ 70 $ 6 $ - $ - $ 1,538 Loss - - - - - 421 - - 421 Pass 165,153 46,320 7,339 13,443 2,021 1,657 - - 235,933 Total Personal $ 165,774 $ 46,774 $ 7,488 $ 13,681 $ 2,091 $ 2,084 $ - $ - $ 237,892 Other consumer Substandard $ - $ - $ - $ - $ - $ - $ 8 $ - $ 8 Pass - - - - - - 9,960 - 9,960 Total Other consumer $ - $ - $ - $ - $ - $ - $ 9,968 $ - $ 9,968 Total Popular U.S. $ 2,185,774 $ 1,894,442 $ 1,311,762 $ 1,024,960 $ 712,989 $ 1,956,361 $ 428,677 $ 15,899 $ 9,530,864 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular, Inc. Commercial: Commercial multi-family Watch $ 750 $ 917 $ 6,218 $ 104,087 $ 9,633 $ 57,522 $ - $ - $ 179,127 Special mention - - 1,198 - 14,491 11,064 - - 26,753 Substandard - - - 9,305 7,373 6,267 100 - 23,045 Pass 640,421 422,247 259,724 226,440 163,363 377,808 2,785 - 2,092,788 Total commercial multi-family $ 641,171 $ 423,164 $ 267,140 $ 339,832 $ 194,860 $ 452,661 $ 2,885 $ - $ 2,321,713 Commercial real estate non-owner occupied Watch $ 173 $ 38,395 $ 27,667 $ 18,297 $ 34,708 $ 129,118 $ - $ - $ 248,358 Special Mention - 4,361 19,970 8,870 - 100,809 - - 134,010 Substandard 8,933 2,864 5,358 22,224 26,919 25,786 - - 92,084 Pass 1,408,097 795,028 505,535 203,837 135,170 952,302 25,249 - 4,025,218 Total commercial real estate non- owner occupied $ 1,417,203 $ 840,648 $ 558,530 $ 253,228 $ 196,797 $ 1,208,015 $ 25,249 $ - $ 4,499,670 Commercial real estate owner occupied Watch $ 2,296 $ 5,271 $ 10,644 $ 5,354 $ 37,744 $ 126,573 $ - $ - $ 187,882 Special Mention 10 284 5,570 6,578 1,076 62,361 - - 75,879 Substandard 16,205 6,177 802 8,203 11,935 117,791 - - 161,113 Doubtful - - - - - 505 - - 505 Pass 591,059 681,432 389,321 113,662 187,594 666,203 23,899 - 2,653,170 Total commercial real estate owner occupied $ 609,570 $ 693,164 $ 406,337 $ 133,797 $ 238,349 $ 973,433 $ 23,899 $ - $ 3,078,549 Commercial and industrial Watch $ 44,704 $ 4,403 $ 17,515 $ 20,878 $ 23,921 $ 52,134 $ 60,799 $ - $ 224,354 Special Mention 3,799 3,609 6,084 1,383 6,827 46,040 6,286 - 74,028 Substandard 1,049 2,211 1,674 7,416 11,851 42,465 47,634 - 114,300 Doubtful - - 29 - 75 75 - - 179 Loss 292 525 1 75 192 3 144 - 1,232 Pass 978,980 1,026,502 579,411 379,566 236,725 668,218 1,555,705 - 5,425,107 Total commercial and industrial $ 1,028,824 $ 1,037,250 $ 604,714 $ 409,318 $ 279,591 $ 808,935 $ 1,670,568 $ - $ 5,839,200 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular, Inc. Construction Watch $ 35,446 $ 15,201 $ 98 $ 6,979 $ 18,310 $ 34,126 $ 141 $ - $ 110,301 Special Mention - 3 - - - - - - 3 Substandard - - 11,052 - 6,540 2,095 - - 19,687 Pass 177,316 180,449 107,447 95,380 10,863 23,581 32,957 - 627,993 Total construction $ 212,762 $ 195,653 $ 118,597 $ 102,359 $ 35,713 $ 59,802 $ 33,098 $ - $ 757,984 Mortgage Substandard $ - $ 2,583 $ 4,165 $ 7,974 $ 5,383 $ 103,757 $ - $ - $ 123,862 Pass 685,881 754,231 528,494 388,016 295,033 4,621,954 - - 7,273,609 Total mortgage $ 685,881 $ 756,814 $ 532,659 $ 395,990 $ 300,416 $ 4,725,711 $ - $ - $ 7,397,471 Leasing Substandard $ 953 $ 1,491 $ 941 $ 1,172 $ 1,127 $ 215 $ - $ - $ 5,899 Loss - - - 21 - 21 - - 42 Pass 672,294 428,889 237,939 146,231 79,451 14,994 - - 1,579,798 Total leasing $ 673,247 $ 430,380 $ 238,880 $ 147,424 $ 80,578 $ 15,230 $ - $ - $ 1,585,739 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular, Inc. Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 11,907 $ - $ 11,907 Loss - - - - - - 3 - 3 Pass - - - - - - 1,029,960 - 1,029,960 Total credit cards $ - $ - $ - $ - $ - $ - $ 1,041,870 $ - $ 1,041,870 HELOCs Substandard $ - $ - $ - $ - $ - $ 2,146 $ 20 $ 1,402 $ 3,568 Loss - - - - - 4 - 538 542 Pass - - - - - 9,169 44,678 13,959 67,806 Total HELOCs $ - $ - $ - $ - $ - $ 11,319 $ 44,698 $ 15,899 $ 71,916 Personal Substandard $ 1,951 $ 2,455 $ 913 $ 2,012 $ 573 $ 10,837 $ - $ 1,285 $ 20,026 Loss - - 53 20 31 431 - 1 536 Pass 1,006,717 367,129 110,676 131,011 48,576 111,200 - 27,708 1,803,017 Total Personal $ 1,008,668 $ 369,584 $ 111,642 $ 133,043 $ 49,180 $ 122,468 $ - $ 28,994 $ 1,823,579 Auto Substandard $ 6,764 $ 11,171 $ 10,466 $ 10,243 $ 4,597 $ 2,382 $ - $ - $ 45,623 Loss 23 41 48 25 7 14 - - 158 Pass 1,156,654 961,571 588,200 426,169 248,328 85,827 - - 3,466,749 Total Auto $ 1,163,441 $ 972,783 $ 598,714 $ 436,437 $ 252,932 $ 88,223 $ - $ - $ 3,512,530 Other consumer Substandard $ - $ - $ 100 $ 593 $ 543 $ 242 $ 10,910 $ - $ 12,388 Loss - - - - 263 40 - - 303 Pass 29,557 17,439 6,967 4,201 4,553 1,942 70,198 - 134,857 Total Other consumer $ 29,557 $ 17,439 $ 7,067 $ 4,794 $ 5,359 $ 2,224 $ 81,108 $ - $ 147,548 Total Popular Inc. $ 7,470,324 $ 5,736,879 $ 3,444,280 $ 2,356,222 $ 1,633,775 $ 8,468,021 $ 2,923,375 $ 44,893 $ 32,077,769 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total BPPR Commercial: Commercial multi-family Watch $ - $ - $ - $ - $ - $ 4,485 $ - $ - $ 4,485 Special mention - - - - - 3,025 - - 3,025 Substandard - - 982 - - 6,257 100 - 7,339 Pass 24,936 21,288 34,840 25,311 2,066 31,468 11 - 139,920 Total commercial multi-family $ 24,936 $ 21,288 $ 35,822 $ 25,311 $ 2,066 $ 45,235 $ 111 $ - $ 154,769 Commercial real estate non-owner occupied Watch $ 100,465 $ 228,852 $ 25,443 $ 137,044 $ 2,406 $ 205,304 $ 3,237 $ - $ 702,751 Special Mention 18,509 12,563 7,271 - 4,608 24,056 - - 67,007 Substandard 30,155 27,790 24,200 25,456 2,770 72,407 - - 182,778 Pass 513,087 88,662 88,353 37,999 42,522 557,052 9,712 - 1,337,387 Total commercial real estate non- owner occupied $ 662,216 $ 357,867 $ 145,267 $ 200,499 $ 52,306 $ 858,819 $ 12,949 $ - $ 2,289,923 Commercial real estate owner occupied Watch $ 8,393 $ 8,612 $ 8,972 $ 6,958 $ 3,039 $ 121,716 $ - $ - $ 157,690 Special Mention 5,573 857 7,598 1,427 2,449 103,472 - - 121,376 Substandard 6,960 1,028 1,646 35,529 1,869 113,288 - - 160,320 Doubtful - - - - 76 612 - - 688 Pass 238,533 198,442 44,943 23,112 32,585 429,651 16,389 - 983,655 Total commercial real estate owner occupied $ 259,459 $ 208,939 $ 63,159 $ 67,026 $ 40,018 $ 768,739 $ 16,389 $ - $ 1,423,729 Commercial and industrial Watch $ 186,529 $ 12,542 $ 21,536 $ 103,835 $ 14,577 $ 90,776 $ 108,183 $ - $ 537,978 Special Mention 7,380 9,936 14,856 28,473 1,012 28,448 60,397 - 150,502 Substandard 2,190 1,091 3,041 35,826 66,771 45,168 38,003 - 192,090 Doubtful - - - - - 62 - - 62 Pass 843,661 335,369 275,357 84,084 72,580 333,869 702,896 - 2,647,816 Total commercial and industrial $ 1,039,760 $ 358,938 $ 314,790 $ 252,218 $ 154,940 $ 498,323 $ 909,479 $ - $ 3,528,448 Construction Substandard $ - $ - $ 485 $ - $ - $ - $ - $ - $ 485 Pass 21,596 41,622 1,148 - - - 22,260 - 86,626 Total construction $ 21,596 $ 41,622 $ 1,633 $ - $ - $ - $ 22,260 $ - $ 87,111 Mortgage Substandard $ - $ 954 $ 5,212 $ 5,613 $ 4,310 $ 122,690 $ - $ - $ 138,779 Pass 463,742 304,780 223,464 265,239 194,982 4,660,880 - - 6,113,087 Total mortgage $ 463,742 $ 305,734 $ 228,676 $ 270,852 $ 199,292 $ 4,783,570 $ - $ - $ 6,251,866 Leasing Substandard $ 124 $ 618 $ 880 $ 613 $ 613 $ 235 $ - $ - $ 3,083 Loss - - - 1 16 2 - - 19 Pass 613,452 328,085 222,770 133,112 62,881 17,917 - - 1,378,217 Total leasing $ 613,576 $ 328,703 $ 223,650 $ 133,726 $ 63,510 $ 18,154 $ - $ - $ 1,381,319 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total BPPR Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 8,577 $ - $ 8,577 Pass - - - - - - 911,274 - 911,274 Total credit cards $ - $ - $ - $ - $ - $ - $ 919,851 $ - $ 919,851 HELOCs Substandard $ - $ - $ - $ - $ - $ - $ 23 $ - $ 23 Pass - - - - - - 3,548 - 3,548 Total HELOCs $ - $ - $ - $ - $ - $ - $ 3,571 $ - $ 3,571 Personal Substandard $ 426 $ 610 $ 2,105 $ 866 $ 936 $ 15,680 $ - $ 1,385 $ 22,008 Loss 30 2 3 - - 3 - - 38 Pass 539,604 197,652 227,328 91,341 53,630 120,065 - 36,394 1,266,014 Total Personal $ 540,060 $ 198,264 $ 229,436 $ 92,207 $ 54,566 $ 135,748 $ - $ 37,779 $ 1,288,060 Auto Substandard $ 3,080 $ 7,520 $ 9,498 $ 4,739 $ 2,210 $ 1,422 $ - $ - $ 28,469 Loss 42 11 - - - - - - 53 Pass 1,259,800 808,339 637,300 420,293 177,104 80,829 - - 3,383,665 Total Auto $ 1,262,922 $ 815,870 $ 646,798 $ 425,032 $ 179,314 $ 82,251 $ - $ - $ 3,412,187 Other consumer Substandard $ - $ 114 $ 21 $ 487 $ - $ 135 $ 11,250 $ - $ 12,007 Loss - - - 579 - 34 - - 613 Pass 24,845 9,781 9,348 5,610 3,914 947 57,483 - 111,928 Total Other consumer $ 24,845 $ 9,895 $ 9,369 $ 6,676 $ 3,914 $ 1,116 $ 68,733 $ - $ 124,548 Total Puerto Rico $ 4,913,112 $ 2,647,120 $ 1,898,600 $ 1,473,547 $ 749,926 $ 7,191,955 $ 1,953,343 $ 37,779 $ 20,865,382 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular U.S. Commercial: Commercial multi-family Watch $ 8,600 $ 41,348 $ 56,229 $ 20,682 $ 37,343 $ 48,753 $ - $ - $ 212,955 Special mention - 3,752 9,013 30,244 11,071 28,297 - - 82,377 Substandard - - 67,149 12,748 - 18,644 - - 98,541 Pass 422,613 241,805 201,298 144,534 46,809 352,724 4,205 - 1,413,988 Total commercial multi-family $ 431,213 $ 286,905 $ 333,689 $ 208,208 $ 95,223 $ 448,418 $ 4,205 $ - $ 1,807,861 Commercial real estate non-owner occupied Watch $ 12,716 $ 22,109 $ 42,067 $ 56,576 $ 28,604 $ 154,289 $ 780 $ - $ 317,141 Special Mention 2,939 - 3,205 7,025 10,573 15,569 - - 39,311 Substandard - 756 6,405 14,544 11,384 60,323 - - 93,412 Pass 543,667 356,071 156,925 211,432 250,516 346,606 8,386 - 1,873,603 Total commercial real estate non- owner occupied $ 559,322 $ 378,936 $ 208,602 $ 289,577 $ 301,077 $ 576,787 $ 9,166 $ - $ 2,323,467 Commercial real estate owner occupied Watch $ - $ 239 $ 7,825 $ 8,150 $ 1,676 $ 17,132 $ 4,222 $ - $ 39,244 Special Mention - - - - - 1,800 - - 1,800 Substandard - - 1,148 2,878 - 20,841 - - 24,867 Pass 129,898 46,737 34,355 23,845 26,236 63,463 3,928 - 328,462 Total commercial real estate owner occupied $ 129,898 $ 46,976 $ 43,328 $ 34,873 $ 27,912 $ 103,236 $ 8,150 $ - $ 394,373 Commercial and industrial Watch $ 3,747 $ 4,667 $ 4,292 $ 9,273 $ 5 $ 1,530 $ 3,925 $ - $ 27,439 Special Mention 2,504 7,203 670 481 59 215 8,177 - 19,309 Substandard 537 97 4,559 495 168 1,890 159 - 7,905 Loss 262 58 108 17 51 191 - - 687 Pass 273,254 339,564 211,695 191,086 115,146 339,336 284,710 - 1,754,791 Total commercial and industrial $ 280,304 $ 351,589 $ 221,324 $ 201,352 $ 115,429 $ 343,162 $ 296,971 $ - $ 1,810,131 Construction Watch $ - $ 14,300 $ 23,547 $ 28,757 $ 34,205 $ - $ - $ - $ 100,809 Special Mention - - - - - 13,622 - - 13,622 Substandard - - - 15,438 10,231 - - - 25,669 Pass 130,587 136,045 165,105 13,634 36,500 7,138 - - 489,009 Total construction $ 130,587 $ 150,345 $ 188,652 $ 57,829 $ 80,936 $ 20,760 $ - $ - $ 629,109 Mortgage Substandard $ - $ 4,338 $ 3,894 $ 967 $ 217 $ 12,680 $ - $ - $ 22,096 Pass 326,641 266,212 215,071 61,986 6,376 276,948 - - 1,153,234 Total mortgage $ 326,641 $ 270,550 $ 218,965 $ 62,953 $ 6,593 $ 289,628 $ - $ - $ 1,175,330 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular U.S. Consumer: Credit cards Pass $ - $ - $ - $ - $ - $ - $ 10 $ - $ 10 Total credit cards $ - $ - $ - $ - $ - $ - $ 10 $ - $ 10 HELOCs Substandard $ - $ - $ - $ - $ - $ 3,006 $ - $ 935 $ 3,941 Loss - - - - - 207 - 1,258 1,465 Pass - - - - - 11,423 38,267 20,195 69,885 Total HELOCs $ - $ - $ - $ - $ - $ 14,636 $ 38,267 $ 22,388 $ 75,291 Personal Substandard $ 72 $ 81 $ 250 $ 73 $ 17 $ 163 $ 2 $ - $ 658 Loss - - 4 - - 19 - - 23 Pass 75,538 19,411 43,346 7,418 2,802 5,625 124 - 154,264 Total Personal $ 75,610 $ 19,492 $ 43,600 $ 7,491 $ 2,819 $ 5,807 $ 126 $ - $ 154,945 Other consumer Pass $ - $ - $ - $ - $ - $ - $ 4,658 $ - $ 4,658 Total Other consumer $ - $ - $ - $ - $ - $ - $ 4,658 $ - $ 4,658 Total Popular U.S. $ 1,933,575 $ 1,504,793 $ 1,258,160 $ 862,283 $ 629,989 $ 1,802,434 $ 361,553 $ 22,388 $ 8,375,175 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular, Inc. Commercial: Commercial multi-family Watch $ 8,600 $ 41,348 $ 56,229 $ 20,682 $ 37,343 $ 53,238 $ - $ - $ 217,440 Special mention - 3,752 9,013 30,244 11,071 31,322 - - 85,402 Substandard - - 68,131 12,748 - 24,901 100 - 105,880 Pass 447,549 263,093 236,138 169,845 48,875 384,192 4,216 - 1,553,908 Total commercial multi-family $ 456,149 $ 308,193 $ 369,511 $ 233,519 $ 97,289 $ 493,653 $ 4,316 $ - $ 1,962,630 Commercial real estate non-owner occupied Watch $ 113,181 $ 250,961 $ 67,510 $ 193,620 $ 31,010 $ 359,593 $ 4,017 $ - $ 1,019,892 Special Mention 21,448 12,563 10,476 7,025 15,181 39,625 - - 106,318 Substandard 30,155 28,546 30,605 40,000 14,154 132,730 - - 276,190 Pass 1,056,754 444,733 245,278 249,431 293,038 903,658 18,098 - 3,210,990 Total commercial real estate non- owner occupied $ 1,221,538 $ 736,803 $ 353,869 $ 490,076 $ 353,383 $ 1,435,606 $ 22,115 $ - $ 4,613,390 Commercial real estate owner occupied Watch $ 8,393 $ 8,851 $ 16,797 $ 15,108 $ 4,715 $ 138,848 $ 4,222 $ - $ 196,934 Special Mention 5,573 857 7,598 1,427 2,449 105,272 - - 123,176 Substandard 6,960 1,028 2,794 38,407 1,869 134,129 - - 185,187 Doubtful - - - - 76 612 - - 688 Pass 368,431 245,179 79,298 46,957 58,821 493,114 20,317 - 1,312,117 Total commercial real estate owner occupied $ 389,357 $ 255,915 $ 106,487 $ 101,899 $ 67,930 $ 871,975 $ 24,539 $ - $ 1,818,102 Commercial and industrial Watch $ 190,276 $ 17,209 $ 25,828 $ 113,108 $ 14,582 $ 92,306 $ 112,108 $ - $ 565,417 Special Mention 9,884 17,139 15,526 28,954 1,071 28,663 68,574 - 169,811 Substandard 2,727 1,188 7,600 36,321 66,939 47,058 38,162 - 199,995 Doubtful - - - - - 62 - - 62 Loss 262 58 108 17 51 191 - - 687 Pass 1,116,915 674,933 487,052 275,170 187,726 673,205 987,606 - 4,402,607 Total commercial and industrial $ 1,320,064 $ 710,527 $ 536,114 $ 453,570 $ 270,369 $ 841,485 $ 1,206,450 $ - $ 5,338,579 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular, Inc. Construction Watch $ - $ 14,300 $ 23,547 $ 28,757 $ 34,205 $ - $ - $ - $ 100,809 Special Mention - - - - - 13,622 - - 13,622 Substandard - - 485 15,438 10,231 - - - 26,154 Pass 152,183 177,667 166,253 13,634 36,500 7,138 22,260 - 575,635 Total construction $ 152,183 $ 191,967 $ 190,285 $ 57,829 $ 80,936 $ 20,760 $ 22,260 $ - $ 716,220 Mortgage Substandard $ - $ 5,292 $ 9,106 $ 6,580 $ 4,527 $ 135,370 $ - $ - $ 160,875 Pass 790,383 570,992 438,535 327,225 201,358 4,937,828 - - 7,266,321 Total mortgage $ 790,383 $ 576,284 $ 447,641 $ 333,805 $ 205,885 $ 5,073,198 $ - $ - $ 7,427,196 Leasing Substandard $ 124 $ 618 $ 880 $ 613 $ 613 $ 235 $ - $ - $ 3,083 Loss - - - 1 16 2 - - 19 Pass 613,452 328,085 222,770 133,112 62,881 17,917 - - 1,378,217 Total leasing $ 613,576 $ 328,703 $ 223,650 $ 133,726 $ 63,510 $ 18,154 $ - $ - $ 1,381,319 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular, Inc. Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 8,577 $ - $ 8,577 Pass - - - - - - 911,284 - 911,284 Total credit cards $ - $ - $ - $ - $ - $ - $ 919,861 $ - $ 919,861 HELOCs Substandard $ - $ - $ - $ - $ - $ 3,006 $ 23 $ 935 $ 3,964 Loss - - - - - 207 - 1,258 1,465 Pass - - - - - 11,423 41,815 20,195 73,433 Total HELOCs $ - $ - $ - $ - $ - $ 14,636 $ 41,838 $ 22,388 $ 78,862 Personal Substandard $ 498 $ 691 $ 2,355 $ 939 $ 953 $ 15,843 $ 2 $ 1,385 $ 22,666 Loss 30 2 7 - - 22 - - 61 Pass 615,142 217,063 270,674 98,759 56,432 125,690 124 36,394 1,420,278 Total Personal $ 615,670 $ 217,756 $ 273,036 $ 99,698 $ 57,385 $ 141,555 $ 126 $ 37,779 $ 1,443,005 Auto Substandard $ 3,080 $ 7,520 $ 9,498 $ 4,739 $ 2,210 $ 1,422 $ - $ - $ 28,469 Loss 42 11 - - - - - - 53 Pass 1,259,800 808,339 637,300 420,293 177,104 80,829 - - 3,383,665 Total Auto $ 1,262,922 $ 815,870 $ 646,798 $ 425,032 $ 179,314 $ 82,251 $ - $ - $ 3,412,187 Other consumer Substandard $ - $ 114 $ 21 $ 487 $ - $ 135 $ 11,250 $ - $ 12,007 Loss - - - 579 - 34 - - 613 Pass 24,845 9,781 9,348 5,610 3,914 947 62,141 - 116,586 Total Other consumer $ 24,845 $ 9,895 $ 9,369 $ 6,676 $ 3,914 $ 1,116 $ 73,391 $ - $ 129,206 Total Popular Inc. $ 6,846,687 $ 4,151,913 $ 3,156,760 $ 2,335,830 $ 1,379,915 $ 8,994,389 $ 2,314,896 $ 60,167 $ 29,240,557

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