Loans	12 Months Ended
Dec. 31, 2023
Receivables
Loans	Note 8 – Loans For a summary of the accounting policies related to loans, interest recognition and allowance for credit losses refer to Note 2 to the Consolidated Financial Statement . During the year ended December 31, 2023, the Corporation recorded purchases (including repurchases) of mortgage loans of $ 385 million, which include $ 1 million in Purchased Credit Deteriorated (“PCD”) loans, consumer loans of $ 127 million and commercial loans of $ 266 million; compared to purchases (including repurchases) of mortgage loans of $ 299 million, which include $ 4 million in PCD loans, consumer loans of $ 433 million, and commercial loans of $ 142 million during the year ended December 31, 2022. The Corporation performed whole-loan sales involving approximately $ 49 million of residential mortgage loans, $ 45 million of consumer loans, and $ 82 million of commercial and construction loans during the year ended December 31, 2023 (December 31, 2022 - $ 63 million of residential mortgage loans and $ 138 million of commercial and construction loans). Also, during the year ended December 31, 2023, the Corporation securitized approximately $ 2 million of mortgage loans into Government National Mortgage Association (“GNMA”) mortgage-backed securities and $ 35 million of mortgage loans into Federal National Mortgage Association (“FNMA”) mortgage-backed securities, compared to $ 169 million and $ 122 million, respectively, during the year ended December 31, 2022. Also, the Corporation securitized approximately $ 9 million of mortgage loans into Federal Home Loan Mortgage Corporation (“FHLMC”) mortgage-backed securities during the year ended December 31, 2022. Delinquency status 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, 2023 and December 31, 2022. December 31, 2023 BPPR 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 $ 524 $ - $ 1,991 $ 2,515 $ 289,427 $ 291,942 $ 1,991 $ - Commercial real estate: Non-owner occupied 5,510 77 8,745 14,332 2,990,922 3,005,254 8,745 - Owner occupied 2,726 249 29,430 32,405 1,365,978 1,398,383 29,430 - Commercial and industrial 6,998 3,352 36,210 46,560 4,749,666 4,796,226 32,826 3,384 Construction - - 6,378 6,378 163,479 169,857 6,378 - Mortgage 260,897 114,282 416,528 791,707 5,600,117 6,391,824 175,106 241,422 Leasing 20,140 6,719 8,632 35,491 1,696,318 1,731,809 8,632 - Consumer: Credit cards 13,243 9,912 23,281 46,436 1,089,292 1,135,728 - 23,281 Home equity lines of credit 230 - 26 256 2,392 2,648 - 26 Personal 19,065 14,611 19,031 52,707 1,723,603 1,776,310 19,031 - Auto 100,061 27,443 45,615 173,119 3,487,661 3,660,780 45,615 - Other 1,641 204 1,213 3,058 147,104 150,162 964 249 Total $ 431,035 $ 176,849 $ 597,080 $ 1,204,964 $ 23,305,959 $ 24,510,923 $ 328,718 $ 268,362 December 31, 2023 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 $ 9,141 $ 2,001 $ - $ 11,142 $ 2,112,536 $ 2,123,678 $ - $ - Commercial real estate: Non-owner occupied 566 1,036 1,117 2,719 2,079,448 2,082,167 1,117 - Owner occupied 30,560 - 6,274 36,834 1,645,418 1,682,252 6,274 - Commercial and industrial 7,815 697 3,881 12,393 2,317,502 2,329,895 3,772 109 Construction - - - - 789,423 789,423 - - Mortgage 48,818 7,821 11,191 67,830 1,236,263 1,304,093 11,191 - Consumer: Credit cards - - - - 19 19 - - Home equity lines of credit 1,472 4 3,733 5,209 58,096 63,305 3,733 - Personal 2,222 1,948 2,805 6,975 161,962 168,937 2,805 - Other 4 - 1 5 10,274 10,279 1 - Total $ 100,598 $ 13,507 $ 29,002 $ 143,107 $ 10,410,941 $ 10,554,048 $ 28,893 $ 109 December 31, 2023 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 $ 9,665 $ 2,001 $ 1,991 $ 13,657 $ 2,401,963 $ 2,415,620 $ 1,991 $ - Commercial real estate: Non-owner occupied 6,076 1,113 9,862 17,051 5,070,370 5,087,421 9,862 - Owner occupied 33,286 249 35,704 69,239 3,011,396 3,080,635 35,704 - Commercial and industrial 14,813 4,049 40,091 58,953 7,067,168 7,126,121 36,598 3,493 Construction - - 6,378 6,378 952,902 959,280 6,378 - Mortgage [1] 309,715 122,103 427,719 859,537 6,836,380 7,695,917 186,297 241,422 Leasing 20,140 6,719 8,632 35,491 1,696,318 1,731,809 8,632 - Consumer: Credit cards 13,243 9,912 23,281 46,436 1,089,311 1,135,747 - 23,281 Home equity lines of credit 1,702 4 3,759 5,465 60,488 65,953 3,733 26 Personal 21,287 16,559 21,836 59,682 1,885,565 1,945,247 21,836 - Auto 100,061 27,443 45,615 173,119 3,487,661 3,660,780 45,615 - Other 1,645 204 1,214 3,063 157,378 160,441 965 249 Total $ 531,633 $ 190,356 $ 626,082 $ 1,348,071 $ 33,716,900 $ 35,064,971 $ 357,611 $ 268,471 [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. These balances include $ 106 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of December 31, 2023. Furthermore, as of December 31, 2023, the Corporation had approximately $ 38 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 $ 356 million in unearned income and exclude $ 4 million in loans held-for-sale. [3] Includes $ 14.2 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $ 7.0 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings and $ 7.2 billion at the Federal Reserve Bank ("FRB") for discount window borrowings. As of December 31, 2023, the Corporation had an available borrowing facility with the FHLB and the discount window of Federal Reserve Bank of New York of $ 3.5 billion and $ 4.4 billion, respectively. December 31, 2022 BPPR 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 $ 425 $ - $ 242 $ 667 $ 280,706 $ 281,373 $ 242 $ - Commercial real estate: Non-owner occupied 941 428 23,662 25,031 2,732,296 2,757,327 23,662 - Owner occupied 729 245 23,990 24,964 1,563,092 1,588,056 23,990 - Commercial and industrial 3,036 941 35,777 39,754 3,756,754 3,796,508 34,277 1,500 Construction - - - - 147,041 147,041 - - Mortgage 222,926 91,881 579,993 894,800 5,215,479 6,110,279 242,391 337,602 Leasing 11,983 3,563 5,941 21,487 1,564,252 1,585,739 5,941 - Consumer: Credit cards 7,106 5,049 11,910 24,065 1,017,766 1,041,831 - 11,910 Home equity lines of credit - - - - 2,954 2,954 - - Personal 13,232 8,752 18,082 40,066 1,545,621 1,585,687 18,082 - Auto 68,868 19,243 40,978 129,089 3,383,441 3,512,530 40,978 - Other 487 87 12,682 13,256 124,324 137,580 12,446 236 Total $ 329,733 $ 130,189 $ 753,257 $ 1,213,179 $ 21,333,726 $ 22,546,905 $ 402,009 $ 351,248 December 31, 2022 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 $ 2,177 $ - $ - $ 2,177 $ 2,038,163 $ 2,040,340 $ - $ - Commercial real estate: Non-owner occupied 484 - 1,454 1,938 1,740,405 1,742,343 1,454 - Owner occupied - - 5,095 5,095 1,485,398 1,490,493 5,095 - Commercial and industrial 12,960 2,205 4,685 19,850 2,022,842 2,042,692 4,319 366 Construction - - - - 610,943 610,943 - - Mortgage 16,131 5,834 20,488 42,453 1,244,739 1,287,192 20,488 - Consumer: Credit cards - - - - 39 39 - - Home equity lines of credit 413 161 4,110 4,684 64,278 68,962 4,110 - Personal 1,808 1,467 1,958 5,233 232,659 237,892 1,958 - Other - - 8 8 9,960 9,968 8 - Total $ 33,973 $ 9,667 $ 37,798 $ 81,438 $ 9,449,426 $ 9,530,864 $ 37,432 $ 366 December 31, 2022 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 $ 2,602 $ - $ 242 $ 2,844 $ 2,318,869 $ 2,321,713 $ 242 $ - Commercial real estate: Non-owner occupied 1,425 428 25,116 26,969 4,472,701 4,499,670 25,116 - Owner occupied 729 245 29,085 30,059 3,048,490 3,078,549 29,085 - Commercial and industrial 15,996 3,146 40,462 59,604 5,779,596 5,839,200 38,596 1,866 Construction - - - - 757,984 757,984 - - Mortgage [1] 239,057 97,715 600,481 937,253 6,460,218 7,397,471 262,879 337,602 Leasing 11,983 3,563 5,941 21,487 1,564,252 1,585,739 5,941 - Consumer: Credit cards 7,106 5,049 11,910 24,065 1,017,805 1,041,870 - 11,910 Home equity lines of credit 413 161 4,110 4,684 67,232 71,916 4,110 - Personal 15,040 10,219 20,040 45,299 1,778,280 1,823,579 20,040 - Auto 68,868 19,243 40,978 129,089 3,383,441 3,512,530 40,978 - Other 487 87 12,690 13,264 134,284 147,548 12,454 236 Total $ 363,706 $ 139,856 $ 791,055 $ 1,294,617 $ 30,783,152 $ 32,077,769 $ 439,441 $ 351,614 [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 balances also include $ 190 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of December 31, 2022. Furthermore, as of December 31,2022, the Corporation had approximately $ 42 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 $ 295 million in unearned income and exclude $ 5 million in loans held-for-sale. [3] Includes $ 7.4 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $ 4.8 billion were pledged at the Federal Home Loan Bank (FHLB) as collateral for borrowings and $ 2.6 billion at the Federal Reserve Bank (FRB) for discount window borrowings. As of December 31, 2022, the Corporation had an available borrowing facility with the FHLB and the discount window of Federal Reserve Bank of New York of $ 2.1 billion and $ 1.4 billion, respectively. Recognition of interest income on mortgage loans is generally discontinued when loans are 90 days or more in arrears on payments of principal or interest. The Corporation discontinues the recognition of interest income on residential mortgage loans insured by the FHA or guaranteed by VA when 15 months delinquent as to principal or interest, since the principal repayment on these loans is insured. At December 31, 2023, mortgage loans held-in-portfolio include $ 2.2 billion (December 31, 2022 - $ 2.0 billion) of loans insured by the FHA, or guaranteed by the VA of which $ 241.6 million (December 31, 2022 - $ 337.8 million) are 90 days or more past due. The portfolio of guaranteed loans includes $ 106 million of residential mortgage loans in Puerto Rico that are no longer accruing interest as of December 31, 2023 (December 31, 2022 - $ 190 million). The Corporation has approximately $ 38 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest at December 31, 2023 (December 31, 2022 - $ 42 million). Loans with a delinquency status of 90 days past due as of December 31, 2023 include $ 11 million in loans previously pooled into GNMA securities (December 31, 2022 - $ 14 million). Under the GNMA program, issuers such as BPPR have the option but not the obligation to repurchase loans that are 90 days or more past due. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements of BPPR with an offsetting liability. Loans in our serviced GNMA portfolio benefit from payment forbearance programs but continue to reflect the contractual delinquency until the borrower repays deferred payments or completes a payment deferral modification or other borrower assistance alternative. The components of the net financing leases, including finance leases within the C&I category, receivable at December 31, 2023 and 2022 were as follows: (In thousands) 2023 2022 Total minimum lease payments $ 1,499,230 $ 1,336,173 Estimated residual value of leased property 685,757 605,638 Deferred origination costs, net of fees 25,634 24,909 Less - Unearned financing income 351,026 293,091 Net minimum lease payments 1,859,595 1,673,629 Less - Allowance for credit losses 10,920 22,216 Net minimum lease payments, net of allowance for credit losses $ 1,848,675 $ 1,651,413 At December 31, 2023, future minimum lease payments are expected to be received as follows: (In thousands) 2024 $ 69,188 2025 92,293 2026 138,254 2027 249,775 2028 339,962 2029 and thereafter 609,758 Total $ 1,499,230 The following tables present the amortized cost basis of non-accrual loans as of December 31, 2023 and December 31, 2022 by class of loans: December 31, 2023 BPPR 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 $ - $ 1,991 $ - $ - $ - $ 1,991 Commercial real estate non-owner occupied 3,695 5,050 - 1,117 3,695 6,167 Commercial real estate owner occupied 20,432 8,998 3,877 2,397 24,309 11,395 Commercial and industrial 6,991 25,835 - 3,772 6,991 29,607 Construction - 6,378 - - - 6,378 Mortgage 84,677 90,429 120 11,071 84,797 101,500 Leasing 481 8,151 - - 481 8,151 Consumer: HELOCs - - - 3,733 - 3,733 Personal 3,589 15,442 - 2,805 3,589 18,247 Auto 1,833 43,782 - - 1,833 43,782 Other 263 701 - 1 263 702 Total $ 121,961 $ 206,757 $ 3,997 $ 24,896 $ 125,958 $ 231,653 December 31, 2022 BPPR 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 $ - $ 242 $ - $ - $ - $ 242 Commercial real estate non-owner occupied 15,639 8,023 1,454 - 17,093 8,023 Commercial real estate owner occupied 9,070 14,920 5,095 - 14,165 14,920 Commercial and industrial 20,227 14,050 - 4,319 20,227 18,369 Mortgage 119,027 123,364 71 20,417 119,098 143,781 Leasing 458 5,483 - - 458 5,483 Consumer: HELOCs - - - 4,110 - 4,110 Personal 4,623 13,459 - 1,958 4,623 15,417 Auto 1,177 39,801 - - 1,177 39,801 Other 263 12,183 - 8 263 12,191 Total $ 170,484 $ 231,525 $ 6,620 $ 30,812 $ 177,104 $ 262,337 Loans in non-accrual status with no allowance at December 31, 2023 include $ 126 million in collateral dependent loans (December 31, 2022 - $ 177 million). The Corporation recognized $ 4 million in interest income on non-accrual loans during the year ended December 31, 2023 (December 31, 2022 - $ 4 million). The Corporation has designated loans classified as collateral dependent for which the ACL is measured based on the fair value of the collateral less cost to sell, when foreclosure is probable or when the repayment is expected to be provided substantially by the sale or operation of the collateral and the borrower is experiencing financial difficulty. The fair value of the collateral is based on appraisals, which may be adjusted due to their age, and the type, location, and condition of the property or area or general market conditions to reflect the expected change in value between the effective date of the appraisal and the measurement date. Appraisals are updated every one to two years depending on the type of loan and the total exposure of the borrower. The following tables present the amortized cost basis of collateral-dependent loans, for which the ACL was measured based on the fair value of the collateral less cost to sell, by class of loans and type of collateral as of December 31, 2023 and December 31, 2022: December 31, 2023 (In thousands) Real Estate Auto Equipment Other Total BPPR Commercial multi-family $ 1,339 $ - $ - $ - $ 1,339 Commercial real estate: Non-owner occupied 160,555 - - - 160,555 Owner occupied 25,848 - - - 25,848 Commercial and industrial 1,103 - - 30,287 31,390 Construction 6,378 - - - 6,378 Mortgage 85,113 - - - 85,113 Leasing - 1,373 - - 1,373 Consumer: Personal 4,338 - - - 4,338 Auto - 12,965 - - 12,965 Other - - - 305 305 Total BPPR $ 284,674 $ 14,338 $ - $ 30,592 $ 329,604 Popular U.S. Commercial real estate: Owner occupied $ 3,877 $ - $ - $ - $ 3,877 Commercial and industrial - - 105 400 505 Construction 5,990 - - - 5,990 Mortgage 1,303 - - - 1,303 Total Popular U.S. $ 11,170 $ - $ 105 $ 400 $ 11,675 Popular, Inc. Commercial multi-family $ 1,339 $ - $ - $ - $ 1,339 Commercial real estate: Non-owner occupied 160,555 - - - 160,555 Owner occupied 29,725 - - - 29,725 Commercial and industrial 1,103 - 105 30,687 31,895 Construction 12,368 - - - 12,368 Mortgage 86,416 - - - 86,416 Leasing - 1,373 - - 1,373 Consumer: Personal 4,338 - - - 4,338 Auto - 12,965 - - 12,965 Other - - - 305 305 Total Popular, Inc. $ 295,844 $ 14,338 $ 105 $ 30,992 $ 341,279 December 31, 2022 (In thousands) Real Estate Auto Equipment Accounts Receivables Other Total BPPR Commercial multi-family $ 1,329 $ - $ - $ - $ - $ 1,329 Commercial real estate: Non-owner occupied 202,980 - - - - 202,980 Owner occupied 18,234 - - - - 18,234 Commercial and industrial 1,345 - 32 9,853 20,985 32,215 Mortgage 128,069 - - - - 128,069 Leasing - 1,020 - - - 1,020 Consumer: Personal 5,381 - - - - 5,381 Auto - 9,556 - - - 9,556 Other - - - - 263 263 Total BPPR $ 357,338 $ 10,576 $ 32 $ 9,853 $ 21,248 $ 399,047 Popular U.S. Commercial real estate: Non-owner occupied $ 1,454 $ - $ - $ - $ - $ 1,454 Owner occupied 5,095 - - - - 5,095 Commercial and industrial - - 136 - - 136 Mortgage 1,104 - - - - 1,104 Total Popular U.S. $ 7,653 $ - $ 136 $ - $ - $ 7,789 Popular, Inc. Commercial multi-family $ 1,329 $ - $ - $ - $ - $ 1,329 Commercial real estate: Non-owner occupied 204,434 - - - - 204,434 Owner occupied 23,329 - - - - 23,329 Commercial and industrial 1,345 - 168 9,853 20,985 32,351 Mortgage 129,173 - - - - 129,173 Leasing - 1,020 - - - 1,020 Consumer: Personal 5,381 - - - - 5,381 Auto - 9,556 - - - 9,556 Other - - - - 263 263 Total Popular, Inc. $ 364,991 $ 10,576 $ 168 $ 9,853 $ 21,248 $ 406,836 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, 2023 December 31, 2022 Purchase price of loans at acquisition $ 819 $ 3,144 Allowance for credit losses at acquisition 89 915 Non-credit discount / (premium) at acquisition 9 140 Par value of acquired loans at acquisition $ 917 $ 4,199

For a summary of the

accounting policies related to loans, interest recognition

and allowance for credit losses refer to

Note 2 to the

Consolidated Financial Statement .

During the year ended December 31, 2023, the Corporation recorded purchases (including repurchases) of mortgage loans

of $

385

million, which

include $

million in

Purchased Credit

Deteriorated (“PCD”)

loans, consumer

loans of

127

million and

commercial

loans of $

266

million; compared to purchases (including repurchases) of mortgage loans of

299

million, which include $

million in

PCD loans, consumer loans of $

433

million, and commercial loans of $

142

million during the year ended December 31, 2022.

The

Corporation

performed

whole-loan

sales

involving

approximately

million

residential

mortgage

loans,

million

consumer loans,

and $

million of

commercial and construction

loans during

the year

ended December 31,

2023 (December

31,

2022

million

residential mortgage

loans

and

138

million of

commercial and

construction loans).

Also,

during the

year

ended

December

31,

2023,

the

Corporation

securitized

approximately

million

mortgage

loans

into

Government

National

Mortgage

Association

(“GNMA”) mortgage-backed

securities

and $

million

mortgage

loans

into

Federal

National Mortgage

Association (“FNMA”) mortgage-backed securities, compared to $

169

million and $

122

million, respectively, during the year ended

December

31,

2022.

Also,

the

Corporation

securitized

approximately

million

mortgage

loans

into

Federal

Home

Loan

Mortgage Corporation (“FHLMC”) mortgage-backed securities

during the year ended December 31, 2022.

Delinquency status

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, 2023 and December 31, 2022.

December 31, 2023

BPPR

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

524

1,991

2,515

289,427

291,942

1,991

Commercial real estate:

Non-owner occupied

5,510

8,745

14,332

2,990,922

3,005,254

8,745

Owner occupied

2,726

249

29,430

32,405

1,365,978

1,398,383

29,430

Commercial and industrial

6,998

3,352

36,210

46,560

4,749,666

4,796,226

32,826

3,384

Construction

6,378

163,479

169,857

6,378

Mortgage

260,897

114,282

416,528

791,707

5,600,117

6,391,824

175,106

241,422

Leasing

20,140

6,719

8,632

35,491

1,696,318

1,731,809

8,632

Consumer:

Credit cards

13,243

9,912

23,281

46,436

1,089,292

1,135,728

23,281

Home equity lines of credit

230

256

2,392

2,648

Personal

19,065

14,611

19,031

52,707

1,723,603

1,776,310

19,031

Auto

100,061

27,443

45,615

173,119

3,487,661

3,660,780

45,615

Other

1,641

204

1,213

3,058

147,104

150,162

964

249

Total

431,035

176,849

597,080

1,204,964

23,305,959

24,510,923

328,718

268,362

December 31, 2023

Popular U.S.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

9,141

2,001

11,142

2,112,536

2,123,678

Commercial real estate:

Non-owner occupied

566

1,036

1,117

2,719

2,079,448

2,082,167

1,117

Owner occupied

30,560

6,274

36,834

1,645,418

1,682,252

6,274

Commercial and industrial

7,815

697

3,881

12,393

2,317,502

2,329,895

3,772

109

Construction

789,423

Mortgage

48,818

7,821

11,191

67,830

1,236,263

1,304,093

11,191

Consumer:

Credit cards

Home equity lines of

credit

1,472

3,733

5,209

58,096

63,305

3,733

Personal

2,222

1,948

2,805

6,975

161,962

168,937

2,805

Other

10,274

10,279

Total

100,598

13,507

29,002

143,107

10,410,941

10,554,048

28,893

109

December 31, 2023

Popular, Inc.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

[2] [3]

loans

Commercial multi-family

9,665

2,001

1,991

13,657

2,401,963

2,415,620

1,991

Commercial real estate:

Non-owner occupied

6,076

1,113

9,862

17,051

5,070,370

5,087,421

9,862

Owner occupied

33,286

249

35,704

69,239

3,011,396

3,080,635

35,704

Commercial and industrial

14,813

4,049

40,091

58,953

7,067,168

7,126,121

36,598

3,493

Construction

6,378

952,902

959,280

6,378

Mortgage

[1]

309,715

122,103

427,719

859,537

6,836,380

7,695,917

186,297

241,422

Leasing

20,140

6,719

8,632

35,491

1,696,318

1,731,809

8,632

Consumer:

Credit cards

13,243

9,912

23,281

46,436

1,089,311

1,135,747

23,281

Home equity lines of credit

1,702

3,759

5,465

60,488

65,953

3,733

Personal

21,287

16,559

21,836

59,682

1,885,565

1,945,247

21,836

Auto

100,061

27,443

45,615

173,119

3,487,661

3,660,780

45,615

Other

1,645

204

1,214

3,063

157,378

160,441

965

249

Total

531,633

190,356

626,082

1,348,071

33,716,900

35,064,971

357,611

268,471

[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.

These balances include $

106

million of residential mortgage loans insured by

FHA or guaranteed by the VA

that are no

longer accruing interest as of December 31, 2023. Furthermore,

as of December 31, 2023, the Corporation had approximately

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 $

356

million in unearned income and exclude $

million in loans held-for-sale.

[3]

Includes $

14.2

billion pledged to secure credit facilities and public funds

that the secured parties are not permitted to sell or repledge

the collateral,

of which $

7.0

billion were pledged at the Federal Home Loan Bank

("FHLB") as collateral for borrowings and $

7.2

billion at the Federal Reserve

Bank ("FRB") for discount window borrowings. As of December

31, 2023, the Corporation had an available borrowing

facility with the FHLB and

the discount window of Federal Reserve Bank of New York

of $

3.5

billion and $

4.4

billion, respectively.

December 31, 2022

BPPR

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

425

242

667

280,706

281,373

242

Commercial real estate:

Non-owner occupied

941

428

23,662

25,031

2,732,296

2,757,327

23,662

Owner occupied

729

245

23,990

24,964

1,563,092

1,588,056

23,990

Commercial and industrial

3,036

941

35,777

39,754

3,756,754

3,796,508

34,277

1,500

Construction

147,041

Mortgage

222,926

91,881

579,993

894,800

5,215,479

6,110,279

242,391

337,602

Leasing

11,983

3,563

5,941

21,487

1,564,252

1,585,739

5,941

Consumer:

Credit cards

7,106

5,049

11,910

24,065

1,017,766

1,041,831

11,910

Home equity lines of credit

2,954

Personal

13,232

8,752

18,082

40,066

1,545,621

1,585,687

18,082

Auto

68,868

19,243

40,978

129,089

3,383,441

3,512,530

40,978

Other

487

12,682

13,256

124,324

137,580

12,446

236

Total

329,733

130,189

753,257

1,213,179

21,333,726

22,546,905

402,009

351,248

December 31, 2022

Popular U.S.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

loans

Commercial multi-family

2,177

2,038,163

2,040,340

Commercial real estate:

Non-owner occupied

484

1,454

1,938

1,740,405

1,742,343

1,454

Owner occupied

5,095

1,485,398

1,490,493

5,095

Commercial and industrial

12,960

2,205

4,685

19,850

2,022,842

2,042,692

4,319

366

Construction

610,943

Mortgage

16,131

5,834

20,488

42,453

1,244,739

1,287,192

20,488

Consumer:

Credit cards

Home equity lines of credit

413

161

4,110

4,684

64,278

68,962

4,110

Personal

1,808

1,467

1,958

5,233

232,659

237,892

1,958

Other

9,960

9,968

Total

33,973

9,667

37,798

81,438

9,449,426

9,530,864

37,432

366

December 31, 2022

Popular, Inc.

Past due

Past due 90 days or more

30-59

60-89

90 days

Total

Non-accrual

Accruing

(In thousands)

days

or more

past due

Current

Loans HIP

[2]

[3]

loans

Commercial multi-family

2,602

242

2,844

2,318,869

2,321,713

242

Commercial real estate:

Non-owner occupied

1,425

428

25,116

26,969

4,472,701

4,499,670

25,116

Owner occupied

729

245

29,085

30,059

3,048,490

3,078,549

29,085

Commercial and industrial

15,996

3,146

40,462

59,604

5,779,596

5,839,200

38,596

1,866

Construction

757,984

Mortgage

[1]

239,057

97,715

600,481

937,253

6,460,218

7,397,471

262,879

337,602

Leasing

11,983

3,563

5,941

21,487

1,564,252

1,585,739

5,941

Consumer:

Credit cards

7,106

5,049

11,910

24,065

1,017,805

1,041,870

11,910

Home equity lines of credit

413

161

4,110

4,684

67,232

71,916

4,110

Personal

15,040

10,219

20,040

45,299

1,778,280

1,823,579

20,040

Auto

68,868

19,243

40,978

129,089

3,383,441

3,512,530

40,978

Other

487

12,690

13,264

134,284

147,548

12,454

236

Total

363,706

139,856

791,055

1,294,617

30,783,152

32,077,769

439,441

351,614

[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 balances also include $

190

million of residential

mortgage loans insured by FHA or guaranteed by the VA

that are no longer accruing interest as of December

31, 2022. Furthermore, as of

December 31,2022, the Corporation had approximately $

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 $

295

million in unearned income and exclude $

million in loans held-for-sale.

[3]

Includes $

7.4

billion pledged to secure credit facilities and public funds

that the secured parties are not permitted to sell or

repledge the collateral,

of which $

4.8

billion were pledged at the Federal Home Loan Bank

(FHLB) as collateral for borrowings and $

2.6

billion at the Federal Reserve

Bank (FRB) for discount window borrowings. As of December

31, 2022, the Corporation had an available borrowing

facility with the FHLB and the

discount window of Federal Reserve Bank of New York

of $

2.1

billion and $

1.4

billion, respectively.

Recognition of interest income on mortgage loans is generally discontinued when loans are 90 days or more in arrears on payments

of principal or interest. The Corporation discontinues the recognition of interest income on residential mortgage loans insured by the

FHA or

guaranteed by

when 15

months delinquent

as to

principal or

interest, since

the principal

repayment on

these loans

insured.

At December

31, 2023, mortgage

loans held-in-portfolio include

2.2

billion (December 31,

2022 -

2.0

billion) of loans

insured by

the FHA, or guaranteed by the VA

of which $

241.6

million (December 31, 2022 - $

337.8

million) are 90 days or more past

due. The

portfolio of guaranteed loans includes

106

million of residential mortgage loans

in Puerto Rico that

are no longer accruing

interest

as of December

31, 2023 (December 31,

2022 - $

190

million). The Corporation has

approximately $

million in reverse mortgage

loans in Puerto Rico which

are guaranteed by FHA, but which

are currently not accruing interest at

December 31, 2023 (December

31, 2022 - $

million).

Loans with

a delinquency status

of 90

days past due

as of

December 31, 2023

include $

million in loans

previously pooled into

GNMA securities (December 31, 2022 -

million). Under the GNMA program, issuers

such as BPPR have the

option but not the

obligation to repurchase loans

that are 90

days or more

past due. For

accounting purposes, these loans

subject to the

repurchase

option

are

required to

reflected on

the

financial statements

of BPPR

with

offsetting

liability.

Loans

our

serviced

GNMA

portfolio benefit

from payment

forbearance programs

but continue

to reflect

the contractual

delinquency until

the borrower

repays

deferred payments or completes a payment deferral

modification or other borrower assistance alternative.

(In thousands)

2023

2022

Total minimum lease

payments

1,499,230

1,336,173

Estimated residual value of leased property

685,757

605,638

Deferred origination costs, net of fees

25,634

24,909

Less - Unearned financing income

351,026

293,091

Net minimum lease payments

1,859,595

1,673,629

Less - Allowance for credit losses

10,920

22,216

Net minimum lease payments, net of allowance for credit losses

1,848,675

1,651,413

December 31, 2023

BPPR

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

1,991

Commercial real estate non-owner occupied

3,695

5,050

1,117

3,695

6,167

Commercial real estate owner occupied

20,432

8,998

3,877

2,397

24,309

11,395

Commercial and industrial

6,991

25,835

3,772

6,991

29,607

Construction

6,378

Mortgage

84,677

90,429

120

11,071

84,797

101,500

Leasing

481

8,151

481

8,151

Consumer:

HELOCs

3,733

Personal

3,589

15,442

2,805

3,589

18,247

Auto

1,833

43,782

1,833

43,782

Other

263

701

263

702

Total

121,961

206,757

3,997

24,896

125,958

231,653

December 31, 2022

BPPR

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

242

Commercial real estate non-owner occupied

15,639

8,023

1,454

17,093

8,023

Commercial real estate owner occupied

9,070

14,920

5,095

14,165

14,920

Commercial and industrial

20,227

14,050

4,319

20,227

18,369

Mortgage

119,027

123,364

20,417

119,098

143,781

Leasing

458

5,483

458

5,483

Consumer:

HELOCs

4,110

Personal

4,623

13,459

1,958

4,623

15,417

Auto

1,177

39,801

1,177

39,801

Other

263

12,183

263

12,191

Total

170,484

231,525

6,620

30,812

177,104

262,337

Loans in non-accrual status with no

allowance at December 31, 2023 include

126

million in collateral dependent loans (December

31,

2022

177

million).

The

Corporation recognized

million

interest

income

non-accrual loans

during

the

year

ended

December 31, 2023 (December 31, 2022 - $

million).

The Corporation has

designated loans classified as

collateral dependent for

which the ACL

is measured based

on the fair

value of

the collateral less

cost to sell,

when foreclosure is

probable or when

the repayment is

expected to be

provided substantially by the

sale or

operation of

the collateral

and the

borrower is

experiencing financial

difficulty.

The fair

value of

the collateral

is based

appraisals, which may be

adjusted due to their

age, and the

type, location, and condition

of the property

or area or general

market

conditions to reflect the expected change in value between the effective date

of the appraisal and the measurement date. Appraisals

are updated every one to two years depending on

the type of loan and the total exposure of

the borrower.

The following tables present the amortized cost basis

of collateral-dependent loans, for which the ACL was measured

based on the

fair value of the collateral less cost to sell, by class

of loans and type of collateral as of December

31, 2023 and December 31, 2022:

December 31, 2023

(In thousands)

Real Estate

Auto

Equipment

Other

Total

BPPR

Commercial multi-family

1,339

Commercial real estate:

Non-owner occupied

160,555

Owner occupied

25,848

Commercial and industrial

1,103

30,287

31,390

Construction

6,378

Mortgage

85,113

Leasing

1,373

Consumer:

Personal

4,338

Auto

12,965

Other

305

Total BPPR

284,674

14,338

30,592

329,604

Popular U.S.

Commercial real estate:

Owner occupied

3,877

Commercial and industrial

105

400

505

Construction

5,990

Mortgage

1,303

Total Popular U.S.

11,170

105

400

11,675

Popular, Inc.

Commercial multi-family

1,339

Commercial real estate:

Non-owner occupied

160,555

Owner occupied

29,725

Commercial and industrial

1,103

105

30,687

31,895

Construction

12,368

Mortgage

86,416

Leasing

1,373

Consumer:

Personal

4,338

Auto

12,965

Other

305

Total Popular,

Inc.

295,844

14,338

105

30,992

341,279

December 31, 2022

(In thousands)

Real Estate

Auto

Equipment

Accounts

Receivables

Other

Total

BPPR

Commercial multi-family

1,329

Commercial real estate:

Non-owner occupied

202,980

Owner occupied

18,234

Commercial and industrial

1,345

9,853

20,985

32,215

Mortgage

128,069

Leasing

1,020

Consumer:

Personal

5,381

Auto

9,556

Other

263

Total BPPR

357,338

10,576

9,853

21,248

399,047

Popular U.S.

Commercial real estate:

Non-owner occupied

1,454

Owner occupied

5,095

Commercial and industrial

136

Mortgage

1,104

Total Popular U.S.

7,653

136

7,789

Popular, Inc.

Commercial multi-family

1,329

Commercial real estate:

Non-owner occupied

204,434

Owner occupied

23,329

Commercial and industrial

1,345

168

9,853

20,985

32,351

Mortgage

129,173

Leasing

1,020

Consumer:

Personal

5,381

Auto

9,556

Other

263

Total Popular,

Inc.

364,991

10,576

168

9,853

21,248

406,836