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Loans (Tables) | 3 Months Ended
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Mar. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items] |
Loan purchases by classes of loans | The following table presents the Corporation's loan purchases (including repurchases) for the quarters ended March 31, 2025 and 2024 by class of loans: For the quarters ended March 31, (In thousands) 2025 2024 Commercial $ 7,160 $ 56,164 Mortgage 120,907 85,804 Ending balance $ 128,067 $ 141,968
Loan sales by classes of loans | The following table presents the Corporation’s whole-loan sales for the quarters ended March 31, 2025 and 2024 by class of loans: For the quarters ended March 31, (In thousands) 2025 2024 Commercial $ 26,349 $ - Construction 9,338 11,656 Mortgage 6,937 11,004 Ending balance $ 42,624 $ 22,660
Purchased Financial Assets With Credit Deterioration | The Corporation has purchased loans during the quarters ended March 31, 2025 and 2024 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) March 31, 2025 March 31, 2024 Purchase price of loans at acquisition $ 259 $ 426 Allowance for credit losses at acquisition 9 17 Par value of acquired loans at acquisition $ 268 $ 443
Loans Held in Portfolio |
Accounts, Notes, Loans and Financing Receivable [Line Items] |
Past due financing receivables | March 31, 2025 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 $ 3,387 $ 112 $ 73 $ 3,572 $ 304,739 $ 308,311 $ 73 $ - Commercial real estate: Non-owner occupied 3,045 74 6,306 9,425 3,304,377 3,313,802 6,306 - Owner occupied 7,512 141 26,891 34,544 1,168,868 1,203,412 26,891 - Commercial and industrial 4,637 2,871 13,089 20,597 5,227,961 5,248,558 9,327 3,762 Construction 6,498 - - 6,498 223,705 230,203 - - Mortgage 249,712 105,166 333,557 688,435 6,257,507 6,945,942 148,506 185,051 Leasing 19,178 5,192 8,895 33,265 1,916,440 1,949,705 8,895 - Consumer: Credit cards 13,365 10,555 30,506 54,426 1,133,352 1,187,778 - 30,506 Home equity lines of credit - - 18 18 2,039 2,057 - 18 Personal 19,246 11,174 18,251 48,671 1,707,204 1,755,875 18,251 - Auto 78,743 15,893 41,784 136,420 3,683,822 3,820,242 41,784 - Other 2,686 144 2,307 5,137 153,586 158,723 1,973 334 Total $ 408,009 $ 151,322 $ 481,677 $ 1,041,008 $ 25,083,600 $ 26,124,608 $ 262,006 $ 219,671 March 31, 2025 Popular U.S. Past due Past due 90 days or more 30-59 60-89 90 days Total Non-accrual Accruing (In thousands) days days or more past due Current Loans HIP loans loans Commercial multi-family $ 1,858 $ - $ 8,700 $ 10,558 $ 2,056,046 $ 2,066,604 $ 8,700 $ - Commercial real estate: Non-owner occupied 768 - 7,886 8,654 2,218,147 2,226,801 7,886 - Owner occupied - - 231 231 1,752,916 1,753,147 231 - Commercial and industrial 7,724 733 879 9,336 2,435,629 2,444,965 690 189 Construction - - - - 1,128,776 1,128,776 - - Mortgage 29,944 1,604 29,087 60,635 1,267,176 1,327,811 29,087 - Consumer: Credit cards - - - - (1) (1) - - Home equity lines of credit 1,851 973 3,430 6,254 68,798 75,052 3,430 - Personal 1,381 781 2,034 4,196 89,952 94,148 2,034 - Other 1 - 5 6 12,115 12,121 5 - Total $ 43,527 $ 4,091 $ 52,252 $ 99,870 $ 11,029,554 $ 11,129,424 $ 52,063 $ 189 March 31, 2025 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 $ 5,245 $ 112 $ 8,773 $ 14,130 $ 2,360,785 $ 2,374,915 $ 8,773 $ - Commercial real estate: Non-owner occupied 3,813 74 14,192 18,079 5,522,524 5,540,603 14,192 - Owner occupied 7,512 141 27,122 34,775 2,921,784 2,956,559 27,122 - Commercial and industrial 12,361 3,604 13,968 29,933 7,663,590 7,693,523 10,017 3,951 Construction 6,498 - - 6,498 1,352,481 1,358,979 - - Mortgage [1] 279,656 106,770 362,644 749,070 7,524,683 8,273,753 177,593 185,051 Leasing 19,178 5,192 8,895 33,265 1,916,440 1,949,705 8,895 - Consumer: Credit cards 13,365 10,555 30,506 54,426 1,133,351 1,187,777 - 30,506 Home equity lines of credit 1,851 973 3,448 6,272 70,837 77,109 3,430 18 Personal 20,627 11,955 20,285 52,867 1,797,156 1,850,023 20,285 - Auto 78,743 15,893 41,784 136,420 3,683,822 3,820,242 41,784 - Other 2,687 144 2,312 5,143 165,701 170,844 1,978 334 Total $ 451,536 $ 155,413 $ 533,929 $ 1,140,878 $ 36,113,154 $ 37,254,032 $ 314,069 $ 219,860 [1] At March 31, 2025, mortgage loans held-in-portfolio include $ 2.8 billion of loans that carry certain guarantees from the FHA or the VA, for which the Corporation’s policy is to exclude them from non-performing status, of which $ 185 million are 90 days or more past due. The portfolio of guaranteed loans includes $ 57 million of residential mortgage loans in Puerto Rico that are no longer accruing interest as of March 31, 2025. The Corporation has approximately $ 30 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest at March 31, 2025. [2] Loans held-in-portfolio are net of $ 421 million in unearned income and exclude $ 5 million in loans held-for-sale. [3] Includes $ 16.3 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $ 7.3 billion were pledged at the Federal Home Loan Bank ("FHLB") as collateral for borrowings and $ 9 .0 billion at the Federal Reserve Bank ("FRB") for discount window borrowings. As of March 31, 2025, the Corporation had an available borrowing facility with the FHLB and the discount window of Federal Reserve Bank of New York of $ 4.1 billion and $ 7.2 billion, respectively. December 31, 2024 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 $ 1,491 $ 113 $ 79 $ 1,683 $ 306,318 $ 308,001 $ 79 $ - Commercial real estate: Non-owner occupied 3,103 586 6,429 10,118 3,236,385 3,246,503 6,429 - Owner occupied 11,054 808 25,258 37,120 1,338,791 1,375,911 25,258 - Commercial and industrial 5,738 2,712 23,895 32,345 5,314,549 5,346,894 19,335 4,560 Construction 1,039 - - 1,039 211,251 212,290 - - Mortgage 262,222 116,694 365,759 744,675 6,065,206 6,809,881 158,442 207,317 Leasing 23,991 6,062 9,588 39,641 1,885,764 1,925,405 9,588 - Consumer: Credit cards 17,399 11,719 29,960 59,078 1,158,975 1,218,053 - 29,960 Home equity lines of credit 16 129 - 145 1,895 2,040 - - Personal 19,503 13,005 20,269 52,777 1,697,600 1,750,377 20,269 - Auto 111,358 27,858 51,792 191,008 3,632,429 3,823,437 51,792 - Other 1,816 277 1,312 3,405 156,824 160,229 899 413 Total $ 458,730 $ 179,963 $ 534,341 $ 1,173,034 $ 25,005,987 $ 26,179,021 $ 292,091 $ 242,250 December 31, 2024 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 $ - $ 5,443 $ 8,700 $ 14,143 $ 2,077,476 $ 2,091,619 $ 8,700 $ - Commercial real estate: Non-owner occupied 6,792 - 8,015 14,807 2,101,925 2,116,732 8,015 - Owner occupied - - 5,191 5,191 1,776,644 1,781,835 5,191 - Commercial and industrial 10,336 5,323 1,938 17,597 2,377,071 2,394,668 1,748 190 Construction - - - - 1,051,502 1,051,502 - - Mortgage 18,148 5,417 29,890 53,455 1,250,847 1,304,302 29,890 - Consumer: Credit cards - - - - 26 26 - - Home equity lines of credit 530 986 3,393 4,909 66,622 71,531 3,393 - Personal 1,808 1,509 1,741 5,058 99,809 104,867 1,741 - Other 514 - 11 525 11,024 11,549 11 - Total $ 38,128 $ 18,678 $ 58,879 $ 115,685 $ 10,812,946 $ 10,928,631 $ 58,689 $ 190 December 31, 2024 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 $ 1,491 $ 5,556 $ 8,779 $ 15,826 $ 2,383,794 $ 2,399,620 $ 8,779 $ - Commercial real estate: Non-owner occupied 9,895 586 14,444 24,925 5,338,310 5,363,235 14,444 - Owner occupied 11,054 808 30,449 42,311 3,115,435 3,157,746 30,449 - Commercial and industrial 16,074 8,035 25,833 49,942 7,691,620 7,741,562 21,083 4,750 Construction 1,039 - - 1,039 1,262,753 1,263,792 - - Mortgage [1] 280,370 122,111 395,649 798,130 7,316,053 8,114,183 188,332 207,317 Leasing 23,991 6,062 9,588 39,641 1,885,764 1,925,405 9,588 - Consumer: Credit cards 17,399 11,719 29,960 59,078 1,159,001 1,218,079 - 29,960 Home equity lines of credit 546 1,115 3,393 5,054 68,517 73,571 3,393 - Personal 21,311 14,514 22,010 57,835 1,797,409 1,855,244 22,010 - Auto 111,358 27,858 51,792 191,008 3,632,429 3,823,437 51,792 - Other 2,330 277 1,323 3,930 167,848 171,778 910 413 Total $ 496,858 $ 198,641 $ 593,220 $ 1,288,719 $ 35,818,933 $ 37,107,652 $ 350,780 $ 242,440 [1] At December 31, 2024 mortgage loans held-in-portfolio include $ 2.6 billion of loans that carry certain guarantees from the FHA or the VA, for which the Corporation’s policy is to exclude them from non-performing status, of which $ 207 million are 90 days or more past due. The portfolio of guaranteed loans includes $ 65 million of residential mortgage loans in Puerto Rico that are no longer accruing interest as of December 31, 2024. The Corporation has approximately $ 31 million in reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest at December 31, 2024. [2] Loans held-in-portfolio are net of $ 415 million in unearned income and exclude $ 5 million in loans held-for-sale. [3] Includes $ 16.8 billion pledged to secure credit facilities and public funds that the secured parties are not permitted to sell or repledge the collateral, of which $ 7.3 billion were pledged at the FHLB as collateral for borrowings and $ 9.5 billion at the FRB for discount window borrowings. As of December 31, 2024, the Corporation had an available borrowing facility with the FHLB and the discount window of FRB of $ 3.8 billion and $ 7 .0 billion, respectively.
Financing receivable non accrual status | The following tables present the amortized cost basis of non-accrual loans as of March 31, 2025 and December 31, 2024 by class of loans: March 31, 2025 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 $ - $ 73 $ 8,700 $ - $ 8,700 $ 73 Commercial real estate non-owner occupied 3,163 3,143 7,053 833 10,216 3,976 Commercial real estate owner occupied 18,822 8,069 - 231 18,822 8,300 Commercial and industrial - 9,327 - 690 - 10,017 Mortgage 64,573 83,933 1,475 27,612 66,048 111,545 Leasing 1,374 7,521 - - 1,374 7,521 Consumer: HELOCs - - - 3,430 - 3,430 Personal 3,222 15,029 - 2,034 3,222 17,063 Auto 1,805 39,979 - - 1,805 39,979 Other - 1,973 - 5 - 1,978 Total $ 92,959 $ 169,047 $ 17,228 $ 34,835 $ 110,187 $ 203,882 December 31, 2024 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 $ - $ 79 $ 8,700 $ - $ 8,700 $ 79 Commercial real estate non-owner occupied 3,450 2,979 7,115 900 10,565 3,879 Commercial real estate owner occupied 17,767 7,491 4,957 234 22,724 7,725 Commercial and industrial 9,020 10,315 - 1,748 9,020 12,063 Mortgage 66,176 92,266 1,069 28,821 67,245 121,087 Leasing 500 9,088 - - 500 9,088 Consumer: HELOCs - - - 3,393 - 3,393 Personal 2,960 17,309 - 1,741 2,960 19,050 Auto 1,992 49,800 - - 1,992 49,800 Other - 899 - 11 - 910 Total $ 101,865 $ 190,226 $ 21,841 $ 36,848 $ 123,706 $ 227,074
Collateral dependent financial assets | 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 March 31, 2025 and December 31, 2024: March 31, 2025 (In thousands) Real Estate Auto Equipment Accounts Receivables Other Total BPPR Commercial multi-family $ 1,262 $ - $ - $ - $ - $ 1,262 Commercial real estate: Non-owner occupied 148,090 - - - - 148,090 Owner occupied 24,202 - - - - 24,202 Commercial and industrial 2,584 - 84 130 2,248 5,046 Mortgage 64,013 - - - - 64,013 Leasing - 2,194 - - - 2,194 Consumer: Personal 3,114 - - - - 3,114 Auto - 16,045 - - - 16,045 Other - - - - 14 14 Total BPPR $ 243,265 $ 18,239 $ 84 $ 130 $ 2,262 $ 263,980 Popular U.S. Commercial multi-family $ 8,700 $ - $ - $ - $ - $ 8,700 Commercial real estate: Non-owner occupied 12,857 - - - - 12,857 Commercial and industrial - - 18 - - 18 Mortgage 2,008 - - - - 2,008 Total Popular U.S. $ 23,565 $ - $ 18 $ - $ - $ 23,583 Popular, Inc. Commercial multi-family $ 9,962 $ - $ - $ - $ - $ 9,962 Commercial real estate: Non-owner occupied 160,947 - - - - 160,947 Owner occupied 24,202 - - - - 24,202 Commercial and industrial 2,584 - 102 130 2,248 5,064 Mortgage 66,021 - - - - 66,021 Leasing - 2,194 - - - 2,194 Consumer: Personal 3,114 - - - - 3,114 Auto - 16,045 - - - 16,045 Other - - - - 14 14 Total Popular, Inc. $ 266,830 $ 18,239 $ 102 $ 130 $ 2,262 $ 287,563 December 31, 2024 (In thousands) Real Estate Auto Equipment Other Total BPPR Commercial multi-family $ 1,278 $ - $ - $ - $ 1,278 Commercial real estate: Non-owner occupied 145,974 - - - 145,974 Owner occupied 23,361 - - - 23,361 Commercial and industrial 2,754 - - 11,593 14,347 Construction 576 - - - 576 Mortgage 77,910 - - - 77,910 Leasing - 1,437 1 - 1,438 Consumer: Personal 3,347 - - - 3,347 Auto - 15,782 - - 15,782 Other - - - 16 16 Total BPPR $ 255,200 $ 17,219 $ 1 $ 11,609 $ 284,029 Popular U.S. Commercial multi-family $ 14,517 $ - $ - $ - $ 14,517 Commercial real estate: Non-owner occupied 7,116 - - - 7,116 Owner occupied 4,956 - - - 4,956 Commercial and industrial - - 18 1,154 1,172 Mortgage 1,430 - - - 1,430 Total Popular U.S. $ 28,019 $ - $ 18 $ 1,154 $ 29,191 Popular, Inc. Commercial multi-family $ 15,795 $ - $ - $ - $ 15,795 Commercial real estate: Non-owner occupied 153,090 - - - 153,090 Owner occupied 28,317 - - - 28,317 Commercial and industrial 2,754 - 18 12,747 15,519 Construction 576 - - - 576 Mortgage 79,340 - - - 79,340 Leasing - 1,437 1 - 1,438 Consumer: Personal 3,347 - - - 3,347 Auto - 15,782 - - 15,782 Other - - - 16 16 Total Popular, Inc. $ 283,219 $ 17,219 $ 19 $ 12,763 $ 313,220

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