Loans	3 Months Ended
Mar. 31, 2025
Receivables, Loans
Loans	Note 7 – Loans For a summary of the accounting policies related to loans, interest recognition and allowance for credit losses refer to Note 2 – Summary of Significant Accounting Policies of the 2024 Form 10-K. 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 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 During the quarter ended March 31, 2025, the Corporation securitized approximately $ 2 million of mortgage loans into FNMA mortgage-backed securities, compared to $ 1 million during the quarter ended March 31, 2024. The Corporation did no t securitize mortgage loans into GNMA mortgage-backed securities during the quarter ended March 31, 2025, compared to $ 1 million during the quarter ended March 31, 2024. 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 March 31, 2025 and December 31, 2024. 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. 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 the VA when 15 months delinquent as to principal or interest, since the principal repayment on these loans is insured. Loans with a delinquency status of 90 days past due as of March 31, 2025 include $ 7 million in loans previously pooled into GNMA securities (December 31, 2024 - $ 9 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 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 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, 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. Loans in non-accrual status with no allowance at March 31, 2025 include $ 110 million in collateral dependent loans (December 31, 2024 - $ 124 million). The Corporation recognized $ 3 million in interest income on non-accrual loans in each of the quarters ended March 31, 2025 and March 31, 2024. 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 Purchased Credit Deteriorated (PCD) Loans 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

For a

summary

the

accounting

policies

loans,

interest

recognition

and

allowance

for

credit

losses

refer to

Note

–

Summary of Significant Accounting Policies of the 2024 Form 10-K.

The following

table presents

the Corporation's

loan purchases

(including repurchases)

for the

quarters ended

March 31,

2025 and

2024 by class of loans:

During

the

quarter

ended

March

31,

2025,

the

Corporation

securitized

approximately

million

mortgage

loans

into

FNMA

mortgage-backed securities,

compared to

million during

the quarter

ended March

31, 2024.

The Corporation

did

t securitize

mortgage loans into GNMA mortgage-backed securities during the quarter ended

March 31, 2025, compared to $

million during the

quarter ended March 31, 2024.

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

March 31, 2025 and December 31, 2024.

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

or more

past due

Current

Loans HIP

loans

Commercial multi-family

3,387

112

3,572

304,739

308,311

Commercial real estate:

Non-owner occupied

3,045

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

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

2,039

2,057

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

or more

past due

Current

Loans HIP

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

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

Mortgage

29,944

1,604

29,087

60,635

1,267,176

1,327,811

29,087

Consumer:

Credit cards

(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

12,115

12,121

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

or more

past due

Current

Loans HIP

[2] [3]

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

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

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

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 $

million of residential mortgage loans in Puerto Rico that are no longer accruing

interest as of March 31, 2025. 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 March 31, 2025.

[2]

Loans held-in-portfolio are net of $

421

million in unearned income and exclude $

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 $

.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

or more

past due

Current

Loans HIP

loans

Commercial multi-family

1,491

113

1,683

306,318

308,001

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

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

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

or more

past due

Current

Loans HIP

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

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

Mortgage

18,148

5,417

29,890

53,455

1,250,847

1,304,302

29,890

Consumer:

Credit cards

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

525

11,024

11,549

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

or more

past due

Current

Loans HIP

[2]

[3]

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

1,262,753

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 $

million of residential mortgage loans in Puerto Rico that are no longer accruing

interest as of December 31, 2024.

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, 2024.

[2]

Loans held-in-portfolio are net of $

415

million in unearned income and exclude $

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 $

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 the VA

when 15 months delinquent as

to principal or interest, since the

principal repayment on these loans is

insured.

Loans with a delinquency

status of 90 days

past due as of

March 31, 2025 include

million in loans previously

pooled into GNMA

securities (December 31, 2024 - $

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.

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

8,700

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

Personal

3,222

15,029

2,034

3,222

17,063

Auto

1,805

39,979

1,805

39,979

Other

1,973

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

8,700

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

Personal

2,960

17,309

1,741

2,960

19,050

Auto

1,992

49,800

1,992

49,800

Other

899

910

Total

101,865

190,226

21,841

36,848

123,706

227,074

The Corporation

has designated

loans classified

as collateral dependent

for which

the ACL is

measured based on

the fair value

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

adjusted

due

their

age,

type,

location,

and

condition

the

property

area

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.

Loans in non-accrual

status with no

allowance at March

31, 2025 include

110

million in collateral

dependent loans (December

31,

2024 -

124

million). The

Corporation recognized

million in

interest income

on non-accrual

loans in

each of

the quarters

ended

March 31, 2025 and March 31, 2024.

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

Commercial real estate:

Non-owner occupied

148,090

Owner occupied

24,202

Commercial and industrial

2,584

130

2,248

5,046

Mortgage

64,013

Leasing

2,194

Consumer:

Personal

3,114

Auto

16,045

Other

Total BPPR

243,265

18,239

130

2,262

263,980

Popular U.S.

Commercial multi-family

8,700

Commercial real estate:

Non-owner occupied

12,857

Commercial and industrial

Mortgage

2,008

Total Popular U.S.

23,565

23,583

Popular, Inc.

Commercial multi-family

9,962

Commercial real estate:

Non-owner occupied

160,947

Owner occupied

24,202

Commercial and industrial

2,584

102

130

2,248

5,064

Mortgage

66,021

Leasing

2,194

Consumer:

Personal

3,114

Auto

16,045

Other

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

Commercial real estate:

Non-owner occupied

145,974

Owner occupied

23,361

Commercial and industrial

2,754

11,593

14,347

Construction

576

Mortgage

77,910

Leasing

1,437

1,438

Consumer:

Personal

3,347

Auto

15,782

Other

Total BPPR

255,200

17,219

11,609

284,029

Popular U.S.

Commercial multi-family

14,517

Commercial real estate:

Non-owner occupied

7,116

Owner occupied

4,956

Commercial and industrial

1,154

1,172

Mortgage

1,430

Total Popular U.S.

28,019

1,154

29,191

Popular, Inc.

Commercial multi-family

15,795

Commercial real estate:

Non-owner occupied

153,090

Owner occupied

28,317

Commercial and industrial

2,754

12,747

15,519

Construction

576

Mortgage

79,340

Leasing

1,437

1,438

Consumer:

Personal

3,347

Auto

15,782

Other

Total Popular,

Inc.

283,219

17,219

12,763

313,220

Purchased Credit Deteriorated (PCD) Loans

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: