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LOANS HELD FOR INVESTMENT | 3 Months Ended
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Mar. 31, 2025
LOANS HELD FOR INVESTMENT [Abstract] |
LOANS HELD FOR INVESTMENT | NOTE 3 – LOANS HELD FOR INVESTMENT The following table provides information about the loan portfolio held for investment by portfolio segment and disaggregated by geographic locations as of the indicated dates: As of March 31, As of December 31, 2025 2024 (In thousands) Puerto Rico and Virgin Islands region: Residential mortgage loans, mainly secured by first mortgages $ 2,334,653 $ 2,323,205 Construction loans 193,791 184,427 Commercial mortgage loans 1,781,402 1,867,894 Commercial and Industrial (“C&I”) loans 2,289,278 2,325,875 Consumer loans 3,736,076 3,750,205 Loans held for investment $ 10,335,200 $ 10,451,606 Florida region: Residential mortgage loans, mainly secured by first mortgages $ 503,193 $ 505,226 Construction loans 40,650 43,969 Commercial mortgage loans 720,287 698,090 C&I loans 1,070,590 1,040,163 Consumer loans 5,478 7,502 Loans held for investment $ 2,340,198 $ 2,294,950 Total: Residential mortgage loans, mainly secured by first mortgages $ 2,837,846 $ 2,828,431 Construction loans 234,441 228,396 Commercial mortgage loans 2,501,689 2,565,984 C&I loans (1) 3,359,868 3,366,038 Consumer loans 3,741,554 3,757,707 Loans held for investment (2) 12,675,398 12,746,556 ACL on loans and finance leases (247,269) (243,942) Loans held for investment, net $ 12,428,129 $ 12,502,614 (1) As of March 31, 2025 and December 31, 2024, includes $ 830.8 million and $ 780.9 million, respectively, of commercial loans that were secured by real estate and for which the primary source of repayment at origination was not dependent upon such real estate. (2) Includes accretable fair value net purchase discounts of $ 22.8 million and $ 23.6 million as of March 31, 2025 and December 31, 2024, respectively. Various loans were assigned as collateral for borrowings, government deposits, time deposits accounts, and related unused commitments. The carrying value of loans pledged as collateral amounted to $ 5.5 billion and $ 5.4 billion as of March 31, 2025 and December 31, 2024, respectively. As of March 31, 2025 and December 31, 2024, loans pledged as collateral include $ 1.8 billion and $ 1.7 billion respectively, that were pledged at the FHLB as collateral for borrowings and letters of credit; $ 3.4 billion pledged as collateral to secure borrowing capacity at the FED Discount Window as of each of March 31, 2025 and December 31, 2024; $ 162.7 million pledged to secure as collateral for the uninsured portion of government deposits, compared to $ 163.5 million as of December 31, 2024; and $ 120.2 million pledged to secure time deposits accounts, compared to $ 123.0 million as of December 31, 2024 The Corporation’s aging of the loan portfolio held for investment, as well as information about nonaccrual loans with no ACL, by portfolio classes as of March 31, 2025 and December 31, 2024 are as follows: As of March 31, 2025 Days Past Due and Accruing Current (1) 30-59 60-89 90+ (2) (3) (4) Nonaccrual (5) Total loans held for investment Nonaccrual Loans with no ACL (6) (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (1) (2) (4) $ 71,785 $ - $ 2,529 $ 17,569 $ - $ 91,883 $ - Conventional residential mortgage loans (1) (3) (5) 2,681,724 - 26,393 7,053 30,793 2,745,963 - Commercial loans: Construction loans 233,027 - 58 - 1,356 234,441 956 Commercial mortgage loans (1) (3) (5) (6) 2,476,055 292 1,142 1,045 23,155 2,501,689 14,602 C&I loans 3,333,347 2,169 115 3,893 20,344 3,359,868 845 Consumer loans: Auto loans 1,961,832 49,747 9,490 - 15,088 2,036,157 1,875 Finance leases 881,101 15,854 3,571 - 4,509 905,035 898 Personal loans 339,289 5,464 2,744 - 1,952 349,449 - Credit cards 290,313 4,587 3,438 7,488 - 305,826 - Other consumer loans 140,200 2,221 1,402 - 1,264 145,087 - Total loans held for investment $ 12,408,673 $ 80,334 $ 50,882 $ 37,048 $ 98,461 $ 12,675,398 $ 19,176 (1) According to the Corporation’s delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, and commercial mortgage loans past due 30-59 days, but less than two payments in arrears, as of March 31, 2025 amounted to $ 7.1 million, $ 57.3 million, and $ 1.3 million, respectively. (2) It is the Corporation’s policy to report delinquent Federal Housing Authority (“FHA”)/U.S. Department of Veterans Affairs (“VA”) government-guaranteed residential mortgage loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans. The Corporation continues accruing interest on these loans until they have passed the 15-month delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $ 6.8 million of residential mortgage loans guaranteed by the FHA that were over 15 months delinquent as of March 31, 2025. (3) Includes purchased credit deteriorated (“PCD”) loans previously accounted for under ASC Subtopic 310-30 for which the Corporation elected to treat pools of these loans as single assets both at the time of adoption of current expected credit loss (“CECL”) methodology on January 1, 2020 and on an ongoing basis for credit loss measurement. These loans will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The portion of such loans contractually past due 90 days or more, amounting to $ 5.7 million as of March 31, 2025 ($ 4.8 million conventional residential mortgage loans and $ 0.9 million commercial mortgage loans), is presented in the loans past due 90 days or more and still accruing category in the table above. (4) Included rebooked loans, which were previously pooled into GNMA securities, amounting to $ 6.4 million as of March 31, 2025. Under the GNMA program, the Corporation has the option but not the obligation to repurchase loans that meet GNMA’s specified delinquency criteria. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements with an offsetting liability. (5) Nonaccrual loans in the Florida region amounted to $ 21.4 million as of March 31, 2025, of which $ 12.5 million was a commercial mortgage loan and $ 8.9 million were residential mortgage loans. (6) Includes $ 12.5 million related to a nonaccrual commercial mortgage loan with no ACL in the Florida region as of March 31, 2025. As of December 31, 2024 Days Past Due and Accruing Current (1) 30-59 60-89 90+ (2) (3) (4) Nonaccrual (5) Total loans held for investment Nonaccrual Loans with no ACL (6) (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (1) (2) (4) $ 70,529 $ - $ 2,907 $ 18,816 $ - $ 92,252 $ - Conventional residential mortgage loans (1) (3) (5) 2,666,959 - 29,867 7,404 31,949 2,736,179 - Commercial loans: Construction loans 227,031 - - - 1,365 228,396 968 Commercial mortgage loans (1) (3) 2,554,226 - - 907 10,851 2,565,984 6,732 C&I loans 3,336,465 1,589 575 6,895 20,514 3,366,038 1,189 Consumer loans: Auto loans 1,935,995 61,524 13,354 - 15,305 2,026,178 1,032 Finance leases 875,663 15,879 4,092 - 3,812 899,446 275 Personal loans 349,588 6,591 3,593 - 2,136 361,908 3 Credit cards 303,311 5,366 3,969 8,368 - 321,014 - Other consumer loans 143,957 2,222 1,447 - 1,535 149,161 - Total loans held for investment $ 12,463,724 $ 93,171 $ 59,804 $ 42,390 $ 87,467 $ 12,746,556 $ 10,199 (1) According to the Corporation’s delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, and commercial mortgage loans past due 30-59 days, but less than two payments in arrears, as of December 31, 2024 amounted to $ 8.8 million, $ 65.6 million, and $ 1.0 million, respectively. (2) It is the Corporation’s policy to report delinquent FHA/VA government-guaranteed residential mortgage loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans. The Corporation continues accruing interest on these loans until they have passed the 15-month delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $ 8.0 million of residential mortgage loans guaranteed by the FHA that were over 15 months delinquent as of December 31, 2024. (3) Includes PCD loans previously accounted for under ASC Subtopic 310-30 for which the Corporation elected to treat pools of these loans as single assets both at the time of adoption of CECL on January 1, 2020 and on an ongoing basis for credit loss measurement. These loans will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The portion of such loans contractually past due 90 days or more, amounting to $ 6.2 million as of December 31, 2024 ($ 5.3 million conventional residential mortgage loans, and $ 0.9 million commercial mortgage loans), is presented in the loans past due 90 days or more and still accruing category in the table above. (4) Include rebooked loans, which were previously pooled into GNMA securities, amounting to $ 5.7 million as of December 31, 2024. Under the GNMA program, the Corporation has the option but not the obligation to repurchase loans that meet GNMA’s specified delinquency criteria. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements with an offsetting liability. (5) Nonaccrual loans in the Florida region amounted to $ 8.6 million as of December 31, 2024, of which $ 8.5 million were residential mortgage loans. (6) There were no nonaccrual loans with no ACL in the Florida region as of December 31, 2024. When a loan is placed in nonaccrual status, any accrued but uncollected interest income is reversed and charged against interest income and the amortization of any net deferred fees is suspended. The amount of accrued interest reversed against interest income totaled $ 0.9 million and $ 0.8 million for the quarters ended March 31, 2025 and 2024, respectively. For the quarters ended March 31, 2025 and 2024, interest income recognized on nonaccrual loans amounted to $ 0.4 million and $ 0.6 million, respectively. As of March 31, 2025, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $ 27.6 million, including $ 8.8 million of FHA/VA government-guaranteed mortgage loans, and $ 3.9 million of PCD loans acquired prior to the adoption, on January 1, 2020, of CECL. The Corporation commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent. Foreclosure procedures and timelines vary depending on whether the property is located in a judicial or non-judicial state. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediations, bankruptcy, court delays, and title issues. Credit Quality Indicators: The Corporation categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes non-homogeneous loans, such as commercial mortgage, C&I, and construction loans individually to classify the loans’ credit risk. The Corporation periodically reviews its commercial and construction loans to evaluate if they are properly classified. The frequency of these reviews will depend on the amount of the aggregate outstanding debt, and the risk rating classification of the obligor. In addition, during the renewal and annual review process of applicable credit facilities, the Corporation evaluates the corresponding loan grades. The Corporation uses the same definition for risk ratings as those described for Puerto Rico municipal bonds accounted for as held-to-maturity debt securities, as discussed in Note 3 – “Debt Securities,” to the audited consolidated financial statements included in the 2024 Annual Report on Form 10-K. For residential mortgage and consumer loans, the Corporation evaluates credit quality based on its interest accrual status. Based on the most recent analysis performed, the amortized cost of commercial and construction loans by portfolio classes and by origination year based on the internal credit-risk category as of March 31, 2025, the gross charge -offs for the quarter ended March 31, 2025 by portfolio classes and by origination year, and the amortized cost of commercial and construction loans by portfolio classes based on the internal credit-risk category as of December 31, 2024, were as follows: As of March 31, 2025 As of December 31, 2024 Puerto Rico and Virgin Islands Region Term Loans Amortized Cost Basis by Origination Year (1) 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) CONSTRUCTION Risk Ratings: Pass $ 7,459 $ 65,179 $ 99,812 $ 9,823 $ 2,564 $ 3,465 $ - $ 188,302 $ 179,755 Criticized: Special Mention - - - - - - - - - Substandard - - 4,133 - - 1,356 - 5,489 4,672 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 7,459 $ 65,179 $ 103,945 $ 9,823 $ 2,564 $ 4,821 $ - $ 193,791 $ 184,427 Charge-offs on construction loans $ - $ - $ - $ - $ - $ - $ - $ - COMMERCIAL MORTGAGE Risk Ratings: Pass $ 12,201 $ 320,262 $ 168,300 $ 348,207 $ 137,398 $ 731,644 $ 5,645 $ 1,723,657 $ 1,804,876 Criticized: Special Mention - - 3,694 3,127 - 30,167 - 36,988 37,035 Substandard - - - - - 20,757 - 20,757 25,983 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 12,201 $ 320,262 $ 171,994 $ 351,334 $ 137,398 $ 782,568 $ 5,645 $ 1,781,402 $ 1,867,894 Charge-offs on commercial mortgage loans $ - $ - $ - $ - $ - $ - $ - $ - C&I Risk Ratings: Pass $ 69,210 $ 240,936 $ 371,992 $ 273,170 $ 122,396 $ 415,175 $ 712,273 $ 2,205,152 $ 2,249,680 Criticized: Special Mention - - 3,072 - 10,004 - 39,512 52,588 44,900 Substandard - 84 191 3,225 13,824 6,305 7,909 31,538 31,295 Doubtful - - - - - - - - - Loss - - - - - - - - - Total C&I loans $ 69,210 $ 241,020 $ 375,255 $ 276,395 $ 146,224 $ 421,480 $ 759,694 $ 2,289,278 $ 2,325,875 Charge-offs on C&I loans $ - $ - $ - $ - $ - $ 47 $ 30 $ 77 (1) Excludes accrued interest receivable. As of March 31, 2025 As of December 31, 2024 Term Loans Florida Region Amortized Cost Basis by Origination Year (1) 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) CONSTRUCTION Risk Ratings: Pass $ - $ 17,919 $ 17,098 $ - $ - $ - $ 5,633 $ 40,650 $ 43,969 Criticized: Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ - $ 17,919 $ 17,098 $ - $ - $ - $ 5,633 $ 40,650 $ 43,969 Charge-offs on construction loans $ - $ - $ - $ - $ - $ - $ - $ - COMMERCIAL MORTGAGE Risk Ratings: Pass $ 41,522 $ 80,763 $ 28,567 $ 219,070 $ 100,836 $ 177,266 $ 29,137 $ 677,161 $ 672,736 Criticized: Special Mention - - - - - - - - - Substandard - - - 17,798 - 25,328 - 43,126 25,354 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 41,522 $ 80,763 $ 28,567 $ 236,868 $ 100,836 $ 202,594 $ 29,137 $ 720,287 $ 698,090 Charge-offs on commercial mortgage loans $ - $ - $ - $ - $ - $ - $ - $ - C&I Risk Ratings: Pass $ 15,080 $ 294,989 $ 177,258 $ 174,614 $ 125,880 $ 109,327 $ 162,432 $ 1,059,580 $ 1,029,100 Criticized: Special Mention - - - - - 11,010 - 11,010 11,063 Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total C&I loans $ 15,080 $ 294,989 $ 177,258 $ 174,614 $ 125,880 $ 120,337 $ 162,432 $ 1,070,590 $ 1,040,163 Charge-offs on C&I loans $ - $ - $ - $ - $ - $ - $ - $ - (1) Excludes accrued interest receivable. As of March 31, 2025 As of December 31, 2024 Term Loans Total Amortized Cost Basis by Origination Year (1) 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) CONSTRUCTION Risk Ratings: Pass $ 7,459 $ 83,098 $ 116,910 $ 9,823 $ 2,564 $ 3,465 $ 5,633 $ 228,952 $ 223,724 Criticized: Special Mention - - - - - - - - - Substandard - - 4,133 - - 1,356 - 5,489 4,672 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 7,459 $ 83,098 $ 121,043 $ 9,823 $ 2,564 $ 4,821 $ 5,633 $ 234,441 $ 228,396 Charge-offs on construction loans $ - $ - $ - $ - $ - $ - $ - $ - COMMERCIAL MORTGAGE Risk Ratings: Pass $ 53,723 $ 401,025 $ 196,867 $ 567,277 $ 238,234 $ 908,910 $ 34,782 $ 2,400,818 $ 2,477,612 Criticized: Special Mention - - 3,694 3,127 - 30,167 - 36,988 37,035 Substandard - - - 17,798 - 46,085 - 63,883 51,337 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 53,723 $ 401,025 $ 200,561 $ 588,202 $ 238,234 $ 985,162 $ 34,782 $ 2,501,689 $ 2,565,984 Charge-offs on commercial mortgage loans $ - $ - $ - $ - $ - $ - $ - $ - C&I Risk Ratings: Pass $ 84,290 $ 535,925 $ 549,250 $ 447,784 $ 248,276 $ 524,502 $ 874,705 $ 3,264,732 $ 3,278,780 Criticized: Special Mention - - 3,072 - 10,004 11,010 39,512 63,598 55,963 Substandard - 84 191 3,225 13,824 6,305 7,909 31,538 31,295 Doubtful - - - - - - - - - Loss - - - - - - - - - Total C&I loans $ 84,290 $ 536,009 $ 552,513 $ 451,009 $ 272,104 $ 541,817 $ 922,126 $ 3,359,868 $ 3,366,038 Charge-offs on C&I loans $ - $ - $ - $ - $ - $ 47 $ 30 $ 77 (1) Excludes accrued interest receivable. The following tables present the amortized cost of residential mortgage loans by portfolio classes and by origination year based on accrual status as of March 31, 2025 , the gross charge-offs for the quarter ended March 31, 2025 by origination year, and the amortized cost of residential mortgage loans by portfolio classes based on accrual status as of December 31, 2024: As of March 31, 2025 As of December 31, 2024 Term Loans Amortized Cost Basis by Origination Year (1) 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) Puerto Rico and Virgin Islands Region: FHA/VA government-guaranteed loans Accrual Status: Performing $ - $ - $ 1,140 $ 1,041 $ 1,575 $ 87,007 $ - $ 90,763 $ 91,124 Non-Performing - - - - - - - - - Total FHA/VA government-guaranteed loans $ - $ - $ 1,140 $ 1,041 $ 1,575 $ 87,007 $ - $ 90,763 $ 91,124 Conventional residential mortgage loans Accrual Status: Performing $ 52,444 $ 187,942 $ 163,584 $ 149,257 $ 61,696 $ 1,607,066 $ - $ 2,221,989 $ 2,208,672 Non-Performing - - - 67 - 21,834 - 21,901 23,409 Total conventional residential mortgage loans $ 52,444 $ 187,942 $ 163,584 $ 149,324 $ 61,696 $ 1,628,900 $ - $ 2,243,890 $ 2,232,081 Total Accrual Status: Performing $ 52,444 $ 187,942 $ 164,724 $ 150,298 $ 63,271 $ 1,694,073 $ - $ 2,312,752 $ 2,299,796 Non-Performing - - - 67 - 21,834 - 21,901 23,409 Total residential mortgage loans $ 52,444 $ 187,942 $ 164,724 $ 150,365 $ 63,271 $ 1,715,907 $ - $ 2,334,653 $ 2,323,205 Charge-offs on residential mortgage loans $ - $ - $ - $ - $ 1 $ 234 $ - $ 235 (1) Excludes accrued interest receivable. As of March 31, 2025 As of December 31, 2024 Term Loans Amortized Cost Basis by Origination Year (1) 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) Florida Region: FHA/VA government-guaranteed loans Accrual Status: Performing $ - $ - $ - $ - $ - $ 1,120 $ - $ 1,120 $ 1,128 Non-Performing - - - - - - - - - Total FHA/VA government-guaranteed loans $ - $ - $ - $ - $ - $ 1,120 $ - $ 1,120 $ 1,128 Conventional residential mortgage loans Accrual Status: Performing $ 11,054 $ 88,123 $ 83,245 $ 67,541 $ 40,570 $ 202,648 $ - $ 493,181 $ 495,558 Non-Performing - - 1,158 1,224 - 6,510 - 8,892 8,540 Total conventional residential mortgage loans $ 11,054 $ 88,123 $ 84,403 $ 68,765 $ 40,570 $ 209,158 $ - $ 502,073 $ 504,098 Total Accrual Status: Performing $ 11,054 $ 88,123 $ 83,245 $ 67,541 $ 40,570 $ 203,768 $ - $ 494,301 $ 496,686 Non-Performing - - 1,158 1,224 - 6,510 - 8,892 8,540 Total residential mortgage loans $ 11,054 $ 88,123 $ 84,403 $ 68,765 $ 40,570 $ 210,278 $ - $ 503,193 $ 505,226 Charge-offs on residential mortgage loans $ - $ - $ - $ - $ - $ - $ - $ - (1) Excludes accrued interest receivable. As of March 31, 2025 As of December 31, 2024 Term Loans Amortized Cost Basis by Origination Year (1) 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) Total: FHA/VA government-guaranteed loans Accrual Status: Performing $ - $ - $ 1,140 $ 1,041 $ 1,575 $ 88,127 $ - $ 91,883 $ 92,252 Non-Performing - - - - - - - - - Total FHA/VA government-guaranteed loans $ - $ - $ 1,140 $ 1,041 $ 1,575 $ 88,127 $ - $ 91,883 $ 92,252 Conventional residential mortgage loans Accrual Status: Performing $ 63,498 $ 276,065 $ 246,829 $ 216,798 $ 102,266 $ 1,809,714 $ - $ 2,715,170 $ 2,704,230 Non-Performing - - 1,158 1,291 - 28,344 - 30,793 31,949 Total conventional residential mortgage loans $ 63,498 $ 276,065 $ 247,987 $ 218,089 $ 102,266 $ 1,838,058 $ - $ 2,745,963 $ 2,736,179 Total Accrual Status: Performing $ 63,498 $ 276,065 $ 247,969 $ 217,839 $ 103,841 $ 1,897,841 $ - $ 2,807,053 $ 2,796,482 Non-Performing - - 1,158 1,291 - 28,344 - 30,793 31,949 Total residential mortgage loans $ 63,498 $ 276,065 $ 249,127 $ 219,130 $ 103,841 $ 1,926,185 $ - $ 2,837,846 $ 2,828,431 Charge-offs on residential mortgage loans $ - $ - $ - $ - $ 1 $ 234 $ - $ 235 (1) Excludes accrued interest receivable. The following tables present the amortized cost of consumer loans by portfolio classes and by origination year based on accrual status as of March 31, 2025, the gross charge-offs for the quarter ended March 31, 2025 by portfolio classes and by origination year, and the amortized cost of consumer loans by portfolio classes based on accrual status as of December 31, 2024: As of March 31, 2025 As of December 31, 2024 Term Loans Amortized Cost Basis by Origination Year (1) 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) Puerto Rico and Virgin Islands Region: Auto loans Accrual Status: Performing $ 162,352 $ 601,698 $ 473,335 $ 368,843 $ 245,610 $ 169,131 $ - $ 2,020,969 $ 2,010,690 Non-Performing - 1,712 3,941 3,254 2,493 3,687 - 15,087 15,295 Total auto loans $ 162,352 $ 603,410 $ 477,276 $ 372,097 $ 248,103 $ 172,818 $ - $ 2,036,056 $ 2,025,985 Charge-offs on auto loans $ 10 $ 1,442 $ 3,257 $ 1,997 $ 1,027 $ 981 $ - $ 8,714 Finance leases Accrual Status: Performing $ 65,078 $ 243,748 $ 252,129 $ 180,652 $ 103,616 $ 55,303 $ - $ 900,526 $ 895,634 Non-Performing - 194 1,790 1,348 329 848 - 4,509 3,812 Total finance leases $ 65,078 $ 243,942 $ 253,919 $ 182,000 $ 103,945 $ 56,151 $ - $ 905,035 $ 899,446 Charge-offs on finance leases $ - $ 260 $ 1,205 $ 872 $ 370 $ 333 $ - $ 3,040 Personal loans Accrual Status: Performing $ 28,490 $ 117,519 $ 102,811 $ 64,734 $ 14,920 $ 18,842 $ - $ 347,316 $ 358,033 Non-Performing - 432 725 530 69 196 - 1,952 2,136 Total personal loans $ 28,490 $ 117,951 $ 103,536 $ 65,264 $ 14,989 $ 19,038 $ - $ 349,268 $ 360,169 Charge-offs on personal loans $ - $ 924 $ 2,634 $ 1,675 $ 357 $ 408 $ - $ 5,998 Credit cards Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ 305,826 $ 305,826 $ 321,014 Non-Performing - - - - - - - - - Total credit cards $ - $ - $ - $ - $ - $ - $ 305,826 $ 305,826 $ 321,014 Charge-offs on credit cards $ - $ - $ - $ - $ - $ - $ 6,074 $ 6,074 Other consumer loans Accrual Status: Performing $ 17,156 $ 57,023 $ 31,352 $ 14,606 $ 4,138 $ 5,791 $ 8,578 $ 138,644 $ 142,091 Non-Performing - 478 328 125 37 153 126 1,247 1,500 Total other consumer loans $ 17,156 $ 57,501 $ 31,680 $ 14,731 $ 4,175 $ 5,944 $ 8,704 $ 139,891 $ 143,591 Charge-offs on other consumer loans $ 8 $ 1,628 $ 1,456 $ 579 $ 149 $ 71 $ 165 $ 4,056 Total Accrual Status: Performing $ 273,076 $ 1,019,988 $ 859,627 $ 628,835 $ 368,284 $ 249,067 $ 314,404 $ 3,713,281 $ 3,727,462 Non-Performing - 2,816 6,784 5,257 2,928 4,884 126 22,795 22,743 Total consumer loans $ 273,076 $ 1,022,804 $ 866,411 $ 634,092 $ 371,212 $ 253,951 $ 314,530 $ 3,736,076 $ 3,750,205 Charge-offs on total consumer loans $ 18 $ 4,254 $ 8,552 $ 5,123 $ 1,903 $ 1,793 $ 6,239 $ 27,882 (1) Excludes accrued interest receivable. As of March 31, 2025 As of December 31, 2024 Term Loans Amortized Cost Basis by Origination Year (1) 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) Florida Region: Auto loans Accrual Status: Performing $ - $ - $ - $ - $ - $ 100 $ - $ 100 $ 183 Non-Performing - - - - - 1 - 1 10 Total auto loans $ - $ - $ - $ - $ - $ 101 $ - $ 101 $ 193 Charge-offs on auto loans $ - $ - $ - $ - $ - $ 16 $ - $ 16 Finance leases Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ - $ - $ - Non-Performing - - - - - - - - - Total finance leases $ - $ - $ - $ - $ - $ - $ - $ - $ - Charge-offs on finance leases $ - $ - $ - $ - $ - $ - $ - $ - Personal loans Accrual Status: Performing $ - $ 138 $ 43 $ - $ - $ - $ - $ 181 $ 1,739 Non-Performing - - - - - - - - - Total personal loans $ - $ 138 $ 43 $ - $ - $ - $ - $ 181 $ 1,739 Charge-offs on personal loans $ - $ - $ - $ - $ - $ - $ - $ - Credit cards Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ - $ - $ - Non-Performing - - - - - - - - - Total credit cards $ - $ - $ - $ - $ - $ - $ - $ - $ - Charge-offs on credit cards $ - $ - $ - $ - $ - $ - $ - $ - Other consumer loans Accrual Status: Performing $ 128 $ 1,184 $ - $ - $ 213 $ 2,125 $ 1,529 $ 5,179 $ 5,535 Non-Performing - - - - - 15 2 17 35 Total other consumer loans $ 128 $ 1,184 $ - $ - $ 213 $ 2,140 $ 1,531 $ 5,196 $ 5,570 Charge-offs on other consumer loans $ - $ - $ - $ - $ - $ - $ - $ - Total Accrual Status: Performing $ 128 $ 1,322 $ 43 $ - $ 213 $ 2,225 $ 1,529 $ 5,460 $ 7,457 Non-Performing - - - - - 16 2 18 45 Total consumer loans $ 128 $ 1,322 $ 43 $ - $ 213 $ 2,241 $ 1,531 $ 5,478 $ 7,502 Charge-offs on total consumer loans $ - $ - $ - $ - $ - $ 16 $ - $ 16 (1) Excludes accrued interest receivable. As of March 31, 2025 As of December 31, 2024 Term Loans Amortized Cost Basis by Origination Year (1) 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) Total: Auto loans Accrual Status: Performing $ 162,352 $ 601,698 $ 473,335 $ 368,843 $ 245,610 $ 169,231 $ - $ 2,021,069 $ 2,010,873 Non-Performing - 1,712 3,941 3,254 2,493 3,688 - 15,088 15,305 Total auto loans $ 162,352 $ 603,410 $ 477,276 $ 372,097 $ 248,103 $ 172,919 $ - $ 2,036,157 $ 2,026,178 Charge-offs on auto loans $ 10 $ 1,442 $ 3,257 $ 1,997 $ 1,027 $ 997 $ - $ 8,730 Finance leases Accrual Status: Performing $ 65,078 $ 243,748 $ 252,129 $ 180,652 $ 103,616 $ 55,303 $ - $ 900,526 $ 895,634 Non-Performing - 194 1,790 1,348 329 848 - 4,509 3,812 Total finance leases $ 65,078 $ 243,942 $ 253,919 $ 182,000 $ 103,945 $ 56,151 $ - $ 905,035 $ 899,446 Charge-offs on finance leases $ - $ 260 $ 1,205 $ 872 $ 370 $ 333 $ - $ 3,040 Personal loans Accrual Status: Performing $ 28,490 $ 117,657 $ 102,854 $ 64,734 $ 14,920 $ 18,842 $ - $ 347,497 $ 359,772 Non-Performing - 432 725 530 69 196 - 1,952 2,136 Total personal loans $ 28,490 $ 118,089 $ 103,579 $ 65,264 $ 14,989 $ 19,038 $ - $ 349,449 $ 361,908 Charge-offs on personal loans $ - $ 924 $ 2,634 $ 1,675 $ 357 $ 408 $ - $ 5,998 Credit cards Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ 305,826 $ 305,826 $ 321,014 Non-Performing - - - - - - - - - Total credit cards $ - $ - $ - $ - $ - $ - $ 305,826 $ 305,826 $ 321,014 Charge-offs on credit cards $ - $ - $ - $ - $ - $ - $ 6,074 $ 6,074 Other consumer loans Accrual Status: Performing $ 17,284 $ 58,207 $ 31,352 $ 14,606 $ 4,351 $ 7,916 $ 10,107 $ 143,823 $ 147,626 Non-Performing - 478 328 125 37 168 128 1,264 1,535 Total other consumer loans $ 17,284 $ 58,685 $ 31,680 $ 14,731 $ 4,388 $ 8,084 $ 10,235 $ 145,087 $ 149,161 Charge-offs on other consumer loans $ 8 $ 1,628 $ 1,456 $ 579 $ 149 $ 71 $ 165 $ 4,056 Total Accrual Status: Performing $ 273,204 $ 1,021,310 $ 859,670 $ 628,835 $ 368,497 $ 251,292 $ 315,933 $ 3,718,741 $ 3,734,919 Non-Performing - 2,816 6,784 5,257 2,928 4,900 128 22,813 22,788 Total consumer loans $ 273,204 $ 1,024,126 $ 866,454 $ 634,092 $ 371,425 $ 256,192 $ 316,061 $ 3,741,554 $ 3,757,707 Charge-offs on total consumer loans $ 18 $ 4,254 $ 8,552 $ 5,123 $ 1,903 $ 1,809 $ 6,239 $ 27,898 (1) Excludes accrued interest receivable. As of March 31, 2025 and December 31, 2024, the balance of revolving loans converted to term loans was no t material. Accrued interest receivable on loans totaled $ 52.5 million as of March 31, 2025 ($ 58.2 million as of December 31, 2024), was reported as part of accrued interest receivable on loans and investment securities in the consolidated statements of financial condition, and is excluded from the estimate of credit losses. The following tables present information about collateral dependent loans that were individually evaluated for purposes of determining the ACL as of March 31, 2025 and December 31, 2024 As of March 31, 2025 Collateral Dependent Loans - With Allowance Collateral Dependent Loans - With No Related Allowance Collateral Dependent Loans - Total Amortized Cost Related Allowance Amortized Cost Amortized Cost Related Allowance (In thousands) Residential mortgage loans: Conventional residential mortgage loans $ 22,951 $ 1,222 $ - $ 22,951 $ 1,222 Commercial loans: Construction loans - - 956 956 - Commercial mortgage loans 9,395 134 49,466 58,861 134 C&I loans 15,359 266 5,761 21,120 266 Consumer loans: Personal loans 28 1 - 28 1 Other consumer loans 123 9 - 123 9 $ 47,856 $ 1,632 $ 56,183 $ 104,039 $ 1,632 As of December 31, 2024 Collateral Dependent Loans - With Allowance Collateral Dependent Loans - With No Related Allowance Collateral Dependent Loans - Total Amortized Cost Related Allowance Amortized Cost Amortized Cost Related Allowance (In thousands) Residential mortgage loans: Conventional residential mortgage loans $ 24,163 $ 1,285 $ 80 $ 24,243 $ 1,285 Commercial loans: Construction loans - - 956 956 - Commercial mortgage loans 4,981 44 41,784 46,765 44 C&I loans 15,684 552 6,120 21,804 552 Consumer loans: Personal loans 28 1 - 28 1 Other consumer loans 123 10 - 123 10 $ 44,979 $ 1,892 $ 48,940 $ 93,919 $ 1,892 The underlying collateral for residential mortgage and consumer collateral dependent loans consisted of single-family residential properties, and for commercial and construction loans consisted primarily of office buildings, multifamily residential properties, and retail establishments. The weighted-average loan-to-value coverage for collateral dependent loans as of March 31, 2025 was 66 %, compared to 68 % as of December 31, 2024, driven by the aforementioned $ 12.5 million nonaccrual commercial mortgage loan in the Florida region with a loan-to-value ratio of 42 %. Purchases and Sales of Loans In the ordinary course of business, the Corporation enters into securitization transactions and whole loan sales with GNMA and GSEs, such as FNMA and FHLMC. During the quarters ended March 31, 2025 and 2024, loans pooled into GNMA MBS amounted to approximately $ 42.2 million and $ 24.7 million, respectively, for which the Corporation recognized a net gain on sale of $ 1.1 million and $ 0.9 million, respectively. Also, during the quarters ended March 31, 2025 and 2024, the Corporation sold approximately $ 4.1 million and $ 6.8 million, respectively, of performing residential mortgage loans to GSEs, for which the Corporation recognized a net gain on sale of $ 0.2 million for each of those quarters. The Corporation’s continuing involvement with the loans that it sells consists primarily of servicing the loans. In addition, the Corporation agrees to repurchase loans if it breaches any of the representations and warranties included in the sale agreement. These representations and warranties are consistent with the GSEs’ selling and servicing guidelines ( i.e. , ensuring that the mortgage was properly underwritten according to established guidelines). For loans pooled into GNMA MBS, the Corporation, as servicer, holds an option to repurchase individual delinquent loans issued on or after January 1, 2003, when certain delinquency criteria are met. This option gives the Corporation the unilateral ability, but not the obligation, to repurchase the delinquent loans at par without prior authorization from GNMA. Since the Corporation is considered to have regained effective control over the loans, it is required to recognize the loans and a corresponding repurchase liability regardless of its intent to repurchase the loans. As of March 31, 2025 and December 31, 2024, rebooked GNMA delinquent loans that were included in the residential mortgage loan portfolio amounted to $ 6.4 million and $ 5.7 million, respectively. During each of the quarters ended March 31, 2025 and 2024, the Corporation repurchased, pursuant to the aforementioned repurchase option, $ 0.2 million of loans previously pooled into GNMA MBS. The principal balance of these loans is fully guaranteed, and the risk of loss related to the repurchased loans is generally limited to the difference between the delinquent interest payment advanced to GNMA, which is computed at the loan’s interest rate, and the interest payments reimbursed by FHA, which are computed at a pre-determined debenture rate. Repurchases of GNMA loans allow the Corporation, among other things, to maintain acceptable delinquency rates on outstanding GNMA pools and remain as a seller and servicer in good standing with GNMA. Historically, losses on these repurchases of GNMA delinquent loans have been immaterial and no provision has been made at the time of sale. Loan sales to FNMA and FHLMC are without recourse in relation to the future performance of the loans. The Corporation’s risk of loss with respect to these loans is also minimal as these repurchased loans are generally performing loans with documentation deficiencies. During the quarter ended March 31, 2025, the Corporation purchased C&I loan participations in the Florida region totaling $ 15.0 million. Meanwhile, during the quarter ended March 31, 2024, the Corporation purchased commercial loan participations in the Florida region totaling $ 23.2 million, which consisted of approximately $ 13.7 million in the commercial mortgage portfolio and $ 9.5 million in the C&I portfolio. During the quarters ended March 31, 2025 and 2024, the Corporation recognized recoveries of $ 2.4 million and $ 9.5 million, respectively, from the bulk sales of fully charged-off consumer loans and finance leases. These recoveries are net of a repurchase liability of $ 0.1 million and $ 0.5 million, respectively, during such periods. Loan Portfolio Concentration The Corporation’s primary lending area is Puerto Rico. The Corporation’s banking subsidiary, FirstBank, also lends in the USVI and the BVI markets and in the United States (principally in the state of Florida). Of the total gross loans held for investment portfolio of $ 12.7 billion as of March 31, 2025, credit risk concentration was approximately 78 % in Puerto Rico, 18 % in the U.S., and 4 % in the USVI and the BVI. As of March 31, 2025, the Corporation had $ 192.7 million outstanding in loans extended to the Puerto Rico government, its municipalities and public corporations, compared to $ 193.3 million as of December 31, 2024. As of March 31, 2025, approximately $ 132.2 million consisted of loans extended to municipalities in Puerto Rico that are general obligations supported by assigned property tax revenues, and $ 22.2 million of loans which are supported by one or more specific sources of municipal revenues. The vast majority of revenues of the municipalities included in the Corporation’s loan portfolio are independent of budgetary subsidies provided by the Puerto Rico central government. These municipalities are required by law to levy special property taxes in such amounts as are required to satisfy the payment of all of their respective general obligation bonds and notes. In addition to loans extended to municipalities, the Corporation’s exposure to the Puerto Rico government as of March 31, 2025 included $ 8.8 million in a loan granted to an affiliate of the Puerto Rico Electric Power Authority (“PREPA”) and $ 29.5 million in loans to a public corporation of the Puerto Rico government. Moreover, as of March 31, 2025, the outstanding balance of construction loans funded through conduit financing structures to support the federal programs of Low-Income Housing Tax Credit (“LIHTC”) combined with Community Development Block Grant- Disaster Recovery (“CDBG-DR”) funding amounted to $ 62.6 million, compared to $ 59.2 million as of December 31, 2024. The main objective of these programs is to spur development in new or rehabilitated and affordable rental housing. PRHFA, as program subrecipient and conduit issuer, issues tax-exempt obligations which are acquired by private financial institutions and are required to co-underwrite with PRHFA a mirror construction loan agreement for the specific project loan to which the Corporation will serve as ultimate lender but where the PRHFA will be the lender of record. In addition, as of March 31, 2025, the Corporation had $ 71.5 million in exposure to residential mortgage loans that are guaranteed by the PRHFA, a government instrumentality that has been designated as a covered entity under PROMESA, compared to $ 72.5 million as of December 31, 2024. Residential mortgage loans guaranteed by the PRHFA are secured by the underlying properties and the guarantees serve to cover shortfalls in collateral in the event of a borrower default. The Corporation also has credit exposure to USVI government entities. As of March 31, 2025, the Corporation had $ 116.0 million in loans to USVI government public corporations, compared to $ 100.4 million as of December 31, 2024. As of March 31, 2025, all loans were currently performing and up to date on principal and interest payments. Loss Mitigation Program for Borrowers Experiencing Financial Difficulty The Corporation provides assistance to its customers through a loss mitigation program. Depending upon the nature of a borrower’s financial condition, restructurings or loan modifications through this program are provided, as well as other restructurings of individual C&I, commercial mortgage, construction, and residential mortgage loans. The Corporation may also modify contractual terms to comply with regulations regarding the treatment of certain bankruptcy filings and discharge situations. The loan modifications granted to borrowers experiencing financial difficulty that are associated with payment delays typically include the following: - Forbearance plans – Payments of either interest and/or principal are deferred for a pre-established period of time, generally not exceeding six months in any given year. The deferred interest and/or principal is repaid as either a lump sum payment at maturity date or by extending the loan’s maturity date by the number of forbearance months granted. - Payment plans – Borrowers are allowed to pay the regular monthly payment plus the pre-established delinquent amounts during a period generally not exceeding six months. At the end of the payment plan, the borrower is required to resume making its regularly scheduled loan payments. - Trial modifications – These types of loan modifications are granted for residential mortgage loans. Borrower s continue making reduced monthly payments during the trial period, which is generally up to six months. The reduced payments that are made by the borrower during the trial period will result in a payment delay with respect to the original contractual terms of the loan since the loan has not yet been contractually modified. After successful completion of the trial period, the mortgage loan is contractually modified. Modifications in the form of a reduction in interest rate, term extension, an other-than-insignificant payment delay, or any combination of these types of loan modifications that have occurred in the current reporting period for a borrower experiencing financial difficulty are disclosed in the tables below. Many factors are considered when evaluating whether there is an other-than- insignificant payment delay, such as the significance of the restructured payment amount relative to the unpaid principal balance or collateral value of the loan or the relative significance of the delay to the original loan terms. The below disclosures relate to loan modifications granted to borrowers experiencing financial difficulty in which there was a change in the timing and/or amount of contractual cash flows in the form of any of the aforementioned types of modifications, including restructurings that resulted in a more-than-insignificant payment delay. These disclosures exclude $ 1.4 million in restructured residential mortgage loans that are government -guaranteed (e.g., FHA/VA loans) and were modified during the quarter ended March 31, 2025, compared to $ 1.1 million for the comparable period in 2024. The following tables present the amortized cost basis as of March 31, 2025 and 2024 of loans modified to borrowers experiencing financial difficulty during the quarters ended March 31, 2025 and 2024, by portfolio classes and type of modification granted, and the percentage of these modified loans relative to the total period-end amortized cost basis of receivables in the portfolio class: Quarter Ended March 31, 2025 Payment Delay Only Forbearance Trial Modification Change in Amortization term Interest Rate Reduction Term Extension Combination of Interest Rate Reduction and Term Extension Other Total Percentage of Total by Portfolio Classes (In thousands) Conventional residential mortgage loans $ - $ 95 $ - $ - $ 117 $ - $ - $ 212 0.01% Construction loans - - - - - - - - - Commercial mortgage loans - - - - - - - - - C&I loans 201 (1) - - 21 (3) 331 - - 553 0.02% Consumer loans: Auto loans - - - - 205 55 796 (2) 1,056 0.05% Personal loans - - - - 7 91 - 98 0.03% Credit cards - - - 965 (3) - - - 965 0.32% Other consumer loans - - - - 76 57 - 133 0.09% Total modifications $ 201 $ 95 $ - $ 986 $ 736 $ 203 $ 796 $ 3,017 Quarter Ended March 31, 2024 Payment Delay Only Forbearance Trial Modification Change in Amortization Term Interest Rate Reduction Term Extension Combination of Interest Rate Reduction and Term Extension Other Total Percentage of Total by Portfolio Classes (In thousands) Conventional residential mortgage loans $ - $ 464 $ - $ - $ - $ - $ - $ 464 0.02% Construction loans - - - - - - - - - Commercial mortgage loans - - - - - - - - - C&I loans - - - 13 (3) - - - 13 0.00% Consumer loans: Auto loans - - - - 174 125 1,036 (2) 1,335 0.07% Personal loans - - - 9 14 5 - 28 0.01% Credit cards - - - 548 (3) - - - 548 0.17% Other consumer loans - - - - 140 7 24 (2) 171 0.11% Total modifications $ - $ 464 $ - $ 570 $ 328 $ 137 $ 1,060 $ 2,559 (1) Modification consists of a six-month deferral of principal and interest to be repaid on or before the end of the forbearance plan. (2) Modification consists of court mandated reduction to 0% interest rate for remaining loan term to borrowers in bankruptcy proceedings unless dismissal occurs. (3) Modification consists of reduction in interest rate and revocation of revolving line privileges. The following tables present by portfolio classes the financial effects of the modifications granted to borrowers experiencing financial difficulty, other than those associated to payment delay, during the quarters ended March 31, 2025 and 2024. The financial effects of the modifications associated to payment delay were discussed above and, as such, were excluded from the tables below: Quarter Ended March 31, 2025 Combination of Interest Rate Reduction and Term Extension Weighted-Average Interest Rate Reduction (%) Weighted-Average Term Extension (in months) Weighted-Average Interest Rate Reduction (%) Weighted-Average Term Extension (in months) Conventional residential mortgage loans - % 66 - % - Construction loans - % - - % - Commercial mortgage loans - % - - % - C&I loans 14.23 % 120 - % - Consumer loans: Auto loans - % 25 1.88 % 16 Personal loans - % 36 3.65 % 23 Credit cards 16.01 % - - % - Other consumer loans - % 27 3.14 % 21 Quarter Ended March 31, 2024 Combination of Interest Rate Reduction and Term Extension Weighted-Average Interest Rate Reduction (%) Weighted-Average Term Extension (in months) Weighted-Average Interest Rate Reduction (%) Weighted-Average Term Extension (in months) Conventional residential mortgage loans - % - - % - Construction loans - % - - % - Commercial mortgage loans - % - - % - C&I loans 13.00 % - - % - Consumer loans: Auto loans - % 30 2.68 % 25 Personal loans 8.49 % 25 1.79 % 14 Credit cards 16.55 % - - % - Other consumer loans - % 23 2.81 % 19 The following tables present by portfolio classes the performance of loans modified during the last twelve months ended March 31, 2025 and 2024 that were granted to borrowers experiencing financial difficulty: Last Twelve Months Ended March 31, 2025 30-59 60-89 90+ Total Delinquency Current Total (In thousands) Conventional residential mortgage loans $ - $ - $ - $ - $ 981 $ 981 Construction loans - - - - 119 119 Commercial mortgage loans - - - - 126,974 126,974 C&I loans 6 4 - 10 10,519 10,529 Consumer loans: Auto loans 78 99 152 329 3,313 3,642 Personal loans - - - - 267 267 Credit cards 218 117 99 434 2,651 3,085 Other consumer loans 18 23 10 51 488 539 Total modifications $ 320 $ 243 $ 261 $ 824 $ 145,312 $ 146,136 Last Twelve Months Ended March 31, 2024 30-59 60-89 90+ Total Delinquency Current Total (In thousands) Conventional residential mortgage loans $ 37 $ - $ - $ 37 $ 1,642 $ 1,679 Construction loans - - - - - - Commercial mortgage loans - - - - 32,384 32,384 C&I loans 13 - - 13 362 375 Consumer loans: Auto loans 19 3 65 87 3,184 3,271 Personal loans 11 - - 11 329 340 Credit cards 217 92 147 456 1,097 1,553 Other consumer loans 31 14 31 76 457 533 Total modifications $ 328 $ 109 $ 243 $ 680 $ 39,455 $ 40,135

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