Please wait
170000000 0.01 Q1 False --12-31 0000763901 - - - - - - - - - - 30000000 11.3 NASDAQ NASDAQ Large Accelerated Filer - http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#AccruedLiabilitiesAndOtherLiabilities http://fasb.org/us-gaap/2024#AccruedLiabilitiesAndOtherLiabilities http://fasb.org/us-gaap/2024#AccruedLiabilitiesAndOtherLiabilities http://fasb.org/us-gaap/2024#AccruedLiabilitiesAndOtherLiabilities 0000763901 2026-03-31 0000763901 2025-12-31 0000763901 2025-03-31 0000763901 2026-01-01 2026-03-31 0000763901 us-gaap:GovernmentSectorMember 2026-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2026-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember bpop:SoftwareLicenseCostsMember 2026-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember bpop:CloudComputingArrangementsMember 2026-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember 2026-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2025-12-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember bpop:SoftwareLicenseCostsMember 2025-12-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember bpop:CloudComputingArrangementsMember 2025-12-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember 2025-12-31 0000763901 bpop:BancoPopularDePuertoRicoMember 2026-03-31 0000763901 bpop:PopularBankMember 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember 2025-12-31 0000763901 bpop:PopularBankMember 2025-12-31 0000763901 bpop:CommercialOrConstructionMember 2024-12-31 0000763901 us-gaap:MortgageReceivablesMember 2024-12-31 0000763901 2024-12-31 0000763901 bpop:CommercialOrConstructionMember 2025-01-01 2025-03-31 0000763901 us-gaap:MortgageReceivablesMember 2025-01-01 2025-03-31 0000763901 bpop:CommercialOrConstructionMember 2026-01-01 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember 2026-01-01 2026-03-31 0000763901 2025-01-01 2025-03-31 0000763901 srt:ManagementMember 2026-01-01 2026-03-31 0000763901 srt:DirectorMember 2026-01-01 2026-03-31 0000763901 bpop:LoansHeldForInvestmentMember 2026-01-01 2026-03-31 0000763901 country:PR 2026-03-31 0000763901 country:US 2026-03-31 0000763901 2026-05-05 0000763901 us-gaap:USTreasurySecuritiesMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember 2025-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember 2026-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember 2025-12-31 0000763901 us-gaap:MortgageBackedSecuritiesMember 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember 2026-03-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember 2026-03-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember 2025-12-31 0000763901 us-gaap:HeldtomaturitySecuritiesMember 2025-12-31 0000763901 us-gaap:HeldtomaturitySecuritiesMember 2026-03-31 0000763901 us-gaap:HeldtomaturitySecuritiesMember us-gaap:AssetNotPledgedAsCollateralAndAssetPledgedAsCollateralWithoutRightMember 2026-03-31 0000763901 us-gaap:HeldtomaturitySecuritiesMember us-gaap:AssetPledgedAsCollateralMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember bpop:MunisPayableFromRealAndPersonalPropertyTaxesMember us-gaap:PassMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember bpop:MunisNotGuaranteedByPuertoRicoCentralGovernmentMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember bpop:MunisNotGuaranteedByPuertoRicoCentralGovernmentMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 country:US us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 country:US us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:US us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 country:PR 2025-12-31 0000763901 country:US 2025-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:RealEstateMember 2025-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:EquipmentMember 2025-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:RealEstateMember 2025-12-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:EquipmentMember 2025-12-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:RealEstateMember 2026-03-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:EquipmentMember 2026-03-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember bpop:OtherCollateralMember 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:RealEstateMember 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:EquipmentMember 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember bpop:OtherCollateralMember 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember bpop:OtherCollateralMember 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:RealEstateMember 2025-12-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:EquipmentMember 2025-12-31 0000763901 us-gaap:MortgageReceivablesMember bpop:OtherCollateralMember 2025-12-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:RealEstateMember 2025-12-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:EquipmentMember 2025-12-31 0000763901 country:US us-gaap:MortgageReceivablesMember bpop:OtherCollateralMember 2025-12-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:RealEstateMember 2025-12-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:EquipmentMember 2025-12-31 0000763901 country:PR us-gaap:MortgageReceivablesMember bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:RealEstateMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:EquipmentMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:RealEstateMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:EquipmentMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember bpop:OtherCollateralMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:RealEstateMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:EquipmentMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember bpop:OtherCollateralMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:RealEstateMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:EquipmentMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:RealEstateMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:EquipmentMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember bpop:OtherCollateralMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:RealEstateMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:EquipmentMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember bpop:OtherCollateralMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:RealEstateMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:EquipmentMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:OtherCollateralMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:RealEstateMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:EquipmentMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:OtherCollateralMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:RealEstateMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:EquipmentMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember bpop:OtherCollateralMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:RealEstateMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:EquipmentMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:RealEstateMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:RealEstateMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:RealEstateMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:RealEstateMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:EquipmentMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:EquipmentMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:EquipmentMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:EquipmentMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:OtherCollateralMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:OtherCollateralMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember bpop:OtherCollateralMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:OtherCollateralMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:RealEstateMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:EquipmentMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:RealEstateMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:RealEstateMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:RealEstateMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:RealEstateMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:EquipmentMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:EquipmentMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:EquipmentMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:EquipmentMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:RealEstateMember 2025-12-31 0000763901 us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 us-gaap:EquipmentMember 2025-12-31 0000763901 bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:US us-gaap:RealEstateMember 2025-12-31 0000763901 country:US us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:US us-gaap:EquipmentMember 2025-12-31 0000763901 country:US bpop:OtherCollateralMember 2025-12-31 0000763901 country:US us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:CollateralPledgedMember 2025-12-31 0000763901 country:PR us-gaap:RealEstateMember 2025-12-31 0000763901 country:PR us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 country:PR us-gaap:EquipmentMember 2025-12-31 0000763901 country:PR bpop:OtherCollateralMember 2025-12-31 0000763901 us-gaap:CollateralPledgedMember 2026-03-31 0000763901 us-gaap:RealEstateMember 2026-03-31 0000763901 us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 us-gaap:EquipmentMember 2026-03-31 0000763901 bpop:OtherCollateralMember 2026-03-31 0000763901 country:US us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:US us-gaap:RealEstateMember 2026-03-31 0000763901 country:US us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:US us-gaap:EquipmentMember 2026-03-31 0000763901 country:US bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:PR us-gaap:RealEstateMember 2026-03-31 0000763901 country:PR us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:PR us-gaap:EquipmentMember 2026-03-31 0000763901 country:PR bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember 2025-01-01 2025-03-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConstructionLoansMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConstructionLoansMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConstructionLoansMember 2025-01-01 2025-03-31 0000763901 us-gaap:MortgageReceivablesMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember 2025-01-01 2025-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member bpop:TradingAccountDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:WeightedAverageMember 2025-01-01 2025-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member bpop:TradingAccountDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:ValuationTechniqueDiscountedCashFlowMember srt:WeightedAverageMember 2026-01-01 2026-03-31 0000763901 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:LoansReceivableMember 2025-03-31 0000763901 us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:LoansReceivableMember bpop:ValuationTechniqueExternalAppraisalMember 2025-01-01 2025-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2025-03-31 0000763901 bpop:ServicingAssetAtFairValueAmountMember 2025-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2025-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2025-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2025-03-31 0000763901 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember 2025-01-01 2025-03-31 0000763901 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember 2025-01-01 2025-03-31 0000763901 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2025-01-01 2025-03-31 0000763901 us-gaap:FairValueMeasurementsNonrecurringMember 2025-01-01 2025-03-31 0000763901 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember 2026-01-01 2026-03-31 0000763901 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember 2026-01-01 2026-03-31 0000763901 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2026-01-01 2026-03-31 0000763901 us-gaap:FairValueMeasurementsNonrecurringMember 2026-01-01 2026-03-31 0000763901 us-gaap:FairValueInputsLevel2Member 2026-03-31 0000763901 us-gaap:PerformanceSharesMember 2026-03-31 0000763901 bpop:ResidentialMortgageLoansInsuredByFhaMember 2026-03-31 0000763901 bpop:ResidentialMortgageLoansInsuredByFhaMember 2025-12-31 0000763901 us-gaap:FinancialAssetNotPastDueMember bpop:ReverseMortgagesMember 2026-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember bpop:ReverseMortgagesMember 2025-12-31 0000763901 us-gaap:AssetPledgedAsCollateralMember 2025-12-31 0000763901 us-gaap:AssetPledgedAsCollateralMember us-gaap:FederalHomeLoanBankAdvancesMember 2025-12-31 0000763901 us-gaap:AssetPledgedAsCollateralMember us-gaap:FederalReserveBankAdvancesMember 2025-12-31 0000763901 us-gaap:AssetPledgedAsCollateralMember 2026-03-31 0000763901 us-gaap:AssetPledgedAsCollateralMember us-gaap:FederalHomeLoanBankAdvancesMember 2026-03-31 0000763901 us-gaap:AssetPledgedAsCollateralMember us-gaap:FederalReserveBankAdvancesMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 country:PR 2025-03-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-03-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-03-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember 2025-03-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 country:US 2025-03-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:WatchMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:US us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:WatchMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:WatchMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:WatchMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:WatchMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember bpop:WatchMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:WatchMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:WatchMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:WatchMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:WatchMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:WatchMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:WatchMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember bpop:WatchMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:DoubtfulMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-01-01 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember bpop:WatchMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember bpop:WatchMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:DoubtfulMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember bpop:WatchMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:DoubtfulMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember bpop:WatchMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:DoubtfulMember 2026-03-31 0000763901 country:US us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember bpop:WatchMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:WatchMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:WatchMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:US us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:WatchMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:WatchMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:DoubtfulMember 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:WatchMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:DoubtfulMember 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:WatchMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:US us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:US us-gaap:ConstructionLoansMember bpop:WatchMember 2025-12-31 0000763901 country:US us-gaap:ConstructionLoansMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 country:US us-gaap:ConstructionLoansMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:ConstructionLoansMember 2025-12-31 0000763901 us-gaap:PassMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 us-gaap:ConstructionLoansMember bpop:WatchMember 2025-12-31 0000763901 us-gaap:ConstructionLoansMember us-gaap:SpecialMentionMember 2025-12-31 0000763901 us-gaap:ConstructionLoansMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:PassMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:MortgageReceivablesMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConstructionLoansMember 2025-12-31 0000763901 country:PR us-gaap:ConstructionLoansMember bpop:WatchMember 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:PR us-gaap:MortgageReceivablesMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConstructionLoansMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 us-gaap:ConstructionLoansMember bpop:WatchMember 2026-03-31 0000763901 us-gaap:ConstructionLoansMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 us-gaap:ConstructionLoansMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:PR us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:US us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:US us-gaap:PassMember us-gaap:ConstructionLoansMember 2026-03-31 0000763901 country:US us-gaap:ConstructionLoansMember bpop:WatchMember 2026-03-31 0000763901 country:US us-gaap:ConstructionLoansMember us-gaap:SpecialMentionMember 2026-03-31 0000763901 country:US us-gaap:ConstructionLoansMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:US us-gaap:PassMember us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:FinanceLeasesPortfolioSegmentMember 2026-03-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember 2026-01-01 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US 2025-12-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US bpop:CommercialMultiFamilyMember 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US bpop:CommercialMultiFamilyMember 2025-12-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US bpop:CommercialRealEstateLoanMember 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US bpop:CommercialRealEstateLoanMember 2025-12-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US bpop:CommercialAndIndustrialLoansMember 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US bpop:CommercialAndIndustrialLoansMember 2025-12-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US bpop:UnsecuredPersonalLoansMember 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US bpop:UnsecuredPersonalLoansMember 2025-12-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US 2026-01-01 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember country:US 2025-01-01 2025-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:OtherCountriesMember 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:OtherCountriesMember 2025-12-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:OtherCountriesMember 2026-01-01 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:OtherCountriesMember 2025-01-01 2025-03-31 0000763901 us-gaap:RestrictedStockUnitsRSUMember 2026-01-01 2026-03-31 0000763901 bpop:BhdLeonMember 2026-03-31 0000763901 bpop:BhdLeonMember 2025-12-31 0000763901 bpop:BhdLeonMember 2026-01-01 2026-03-31 0000763901 bpop:BhdLeonMember 2025-01-01 2025-03-31 0000763901 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2026-03-31 0000763901 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2025-12-31 0000763901 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember bpop:MortgageServicingRightsMember 2026-03-31 0000763901 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember bpop:MortgageServicingRightsMember 2025-12-31 0000763901 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember bpop:ServicingAssetAtFairValueAmountMember 2026-03-31 0000763901 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember bpop:ServicingAssetAtFairValueAmountMember 2025-12-31 0000763901 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember bpop:OtherAdvancesMember 2026-03-31 0000763901 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember bpop:OtherAdvancesMember 2025-12-31 0000763901 us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2026-03-31 0000763901 us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2025-12-31 0000763901 us-gaap:CommitmentsToExtendCreditMember us-gaap:CreditCardMember 2026-03-31 0000763901 us-gaap:CommitmentsToExtendCreditMember us-gaap:CreditCardMember 2025-12-31 0000763901 us-gaap:CommitmentsToExtendCreditMember bpop:CommercialLinesOfCreditMember 2026-03-31 0000763901 us-gaap:CommitmentsToExtendCreditMember bpop:CommercialLinesOfCreditMember 2025-12-31 0000763901 us-gaap:CommitmentsToExtendCreditMember bpop:ConstructionLinesOfCreditMember 2026-03-31 0000763901 us-gaap:CommitmentsToExtendCreditMember bpop:ConstructionLinesOfCreditMember 2025-12-31 0000763901 us-gaap:CommitmentsToExtendCreditMember bpop:OtherLoanCommitmentsMember 2026-03-31 0000763901 us-gaap:CommitmentsToExtendCreditMember bpop:OtherLoanCommitmentsMember 2025-12-31 0000763901 bpop:CommercialLettersOfCreditMember 2026-03-31 0000763901 bpop:CommercialLettersOfCreditMember 2025-12-31 0000763901 us-gaap:StandbyLettersOfCreditMember 2026-03-31 0000763901 us-gaap:StandbyLettersOfCreditMember 2025-12-31 0000763901 bpop:MortgageLoanCommitmentsMember 2026-03-31 0000763901 bpop:MortgageLoanCommitmentsMember 2025-12-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember us-gaap:SecuritiesInvestmentMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember us-gaap:LoansMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember 2026-01-01 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromPrCentralGovernmentMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember us-gaap:SecuritiesInvestmentMember bpop:FromPrCentralGovernmentMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember us-gaap:LoansMember bpop:FromPrCentralGovernmentMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromPrCentralGovernmentMember 2026-01-01 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromPrCentralGovernmentMember bpop:WithinOneYearFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember us-gaap:SecuritiesInvestmentMember bpop:FromPrCentralGovernmentMember bpop:WithinOneYearFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember us-gaap:LoansMember bpop:FromPrCentralGovernmentMember bpop:WithinOneYearFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromPrCentralGovernmentMember bpop:WithinOneYearFromBalanceSheetDateMember 2026-01-01 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember bpop:WithinOneYearFromBalanceSheetDateMember 2026-01-01 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember bpop:MoreThanOneAndWithinFiveYearsFromBalanceSheetDateMember 2026-01-01 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember bpop:MoreThanFiveAndWithinTenYearsFromBalanceSheetDateMember 2026-01-01 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember bpop:MoreThanTenYearsFromBalanceSheetDateMember 2026-01-01 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember bpop:WithinOneYearFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember bpop:MoreThanOneAndWithinFiveYearsFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember bpop:MoreThanFiveAndWithinTenYearsFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember bpop:MoreThanTenYearsFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember us-gaap:SecuritiesInvestmentMember bpop:WithinOneYearFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember us-gaap:LoansMember bpop:WithinOneYearFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember us-gaap:SecuritiesInvestmentMember bpop:MoreThanOneAndWithinFiveYearsFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember us-gaap:LoansMember bpop:MoreThanOneAndWithinFiveYearsFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember us-gaap:SecuritiesInvestmentMember bpop:MoreThanFiveAndWithinTenYearsFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember us-gaap:LoansMember bpop:MoreThanFiveAndWithinTenYearsFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember us-gaap:SecuritiesInvestmentMember bpop:MoreThanTenYearsFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromMunicipalitiesMember us-gaap:LoansMember bpop:MoreThanTenYearsFromBalanceSheetDateMember 2026-03-31 0000763901 us-gaap:CommitmentsToExtendCreditMember 2026-03-31 0000763901 us-gaap:CommitmentsToExtendCreditMember 2025-12-31 0000763901 bpop:PrGovernmentDirectExposureMember us-gaap:SecuritiesInvestmentMember 2025-12-31 0000763901 bpop:PrGovernmentDirectExposureMember 2026-03-31 0000763901 bpop:PrGovernmentIndirectExposureMember 2026-03-31 0000763901 bpop:PrGovernmentIndirectExposureMember us-gaap:BondsMember 2026-03-31 0000763901 us-gaap:CommercialLoanMember bpop:InsuredOrGuaranteedByTheUsGovernmentOrItsAgenciesMember 2026-03-31 0000763901 bpop:UsviGovernmentDirectExposureMember bpop:FromUsviGovernmentAndPublicCorporationsMember 2026-01-01 2026-03-31 0000763901 country:VG bpop:RetailAndCommericalLoansMember 2026-03-31 0000763901 srt:MinimumMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-01-01 2026-03-31 0000763901 us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:SubstandardMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 us-gaap:UnsecuredDebtMember bpop:FixedRateWithMaturitiesOn2028Member 2026-03-31 0000763901 us-gaap:UnsecuredDebtMember bpop:FixedRateWithMaturitiesOn2028Member 2025-12-31 0000763901 us-gaap:JuniorSubordinatedDebtMember bpop:FixedRateJuniorSubordinatedDeferrableInterestDebenturesMaturitiesOn2034Member 2026-03-31 0000763901 us-gaap:JuniorSubordinatedDebtMember bpop:FixedRateJuniorSubordinatedDeferrableInterestDebenturesMaturitiesOn2034Member 2025-12-31 0000763901 bpop:FixedRateAdvancesDueTo2029Member 2026-01-01 2026-03-31 0000763901 us-gaap:JuniorSubordinatedDebtMember bpop:FixedRateJuniorSubordinatedDeferrableInterestDebenturesMaturitiesOn2034Member 2026-01-01 2026-03-31 0000763901 us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember 2026-03-31 0000763901 us-gaap:LongTermDebtMember 2026-03-31 0000763901 us-gaap:FederalReserveBankAdvancesMember 2026-03-31 0000763901 us-gaap:FederalReserveBankAdvancesMember 2025-12-31 0000763901 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2025-12-31 0000763901 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2026-03-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2025-12-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 bpop:SecuritiesInWhollyOwnedStatutoryBusinessTrustsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2026-03-31 0000763901 us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember 2025-12-31 0000763901 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2025-12-31 0000763901 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 bpop:CollateralizedMortgageObligationsIssuedByUSGovernmentSponsoredEnterprisesAndUSGovernmentMember us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember 2026-03-31 0000763901 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember 2026-03-31 0000763901 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember 2026-03-31 0000763901 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2026-03-31 0000763901 us-gaap:FairValueInputsLevel2Member 2025-12-31 0000763901 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember 2026-01-01 2026-03-31 0000763901 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember us-gaap:OtherAggregatedInvestmentsMember 2026-01-01 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember 2026-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember 2026-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2026-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-12-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-12-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-12-31 0000763901 us-gaap:FinancialAssetNotPastDueMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 country:PR 2025-01-01 2025-03-31 0000763901 country:US 2025-01-01 2025-03-31 0000763901 srt:DirectorMember 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 country:US us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 country:US us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:SubstandardMember 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 country:PR us-gaap:PassMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:SubstandardMember 2025-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 us-gaap:PassMember us-gaap:FinanceLeasesPortfolioSegmentMember 2025-12-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:SubstandardMember 2025-12-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-03-31 0000763901 us-gaap:FinancialAssetPastDueMember 2025-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 country:PR bpop:PaymentDeferralAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 country:US bpop:PaymentDeferralAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 bpop:PaymentDeferralAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember bpop:PaymentDeferralAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember bpop:PaymentDeferralAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember bpop:PaymentDeferralAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember bpop:PaymentDeferralAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember bpop:PaymentDeferralAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember bpop:PaymentDeferralAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 us-gaap:FederalHomeLoanBankAdvancesMember 2025-12-31 0000763901 us-gaap:FederalReserveBankAdvancesMember 2025-12-31 0000763901 us-gaap:FederalHomeLoanBankAdvancesMember 2026-03-31 0000763901 us-gaap:FederalReserveBankAdvancesMember 2026-03-31 0000763901 us-gaap:UnsecuredDebtMember bpop:FixedRateWithMaturitiesOn2028Member 2026-01-01 2026-03-31 0000763901 bpop:GuaranteesFromFhaOrVaMember 2026-03-31 0000763901 bpop:GuaranteesFromFhaOrVaMember 2025-12-31 0000763901 us-gaap:AvailableforsaleSecuritiesMember us-gaap:AssetPledgedAsCollateralMember 2025-12-31 0000763901 us-gaap:AvailableforsaleSecuritiesMember us-gaap:AssetNotPledgedAsCollateralAndAssetPledgedAsCollateralWithoutRightMember 2025-12-31 0000763901 us-gaap:AvailableforsaleSecuritiesMember us-gaap:AssetNotPledgedAsCollateralAndAssetPledgedAsCollateralWithoutRightMember 2026-03-31 0000763901 us-gaap:AvailableforsaleSecuritiesMember us-gaap:AssetPledgedAsCollateralMember 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-03-31 0000763901 us-gaap:PerformanceSharesMember 2024-12-31 0000763901 srt:DirectorMember 2024-12-31 0000763901 us-gaap:ShortTermDebtMember 2026-03-31 0000763901 us-gaap:CommonStockMember 2024-12-31 0000763901 us-gaap:PreferredStockMember 2024-12-31 0000763901 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0000763901 us-gaap:RetainedEarningsMember 2024-12-31 0000763901 us-gaap:TreasuryStockCommonMember 2024-12-31 0000763901 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-31 0000763901 bpop:ServicingAssetAtFairValueAmountMember 2024-12-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2024-12-31 0000763901 us-gaap:MortgageBackedSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2024-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2024-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2024-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 bpop:BancoPopularDePuertoRicoMember us-gaap:OperatingSegmentsMember 2025-01-01 2025-03-31 0000763901 bpop:PopularBankMember us-gaap:OperatingSegmentsMember 2025-01-01 2025-03-31 0000763901 us-gaap:IntersegmentEliminationMember 2025-01-01 2025-03-31 0000763901 us-gaap:OperatingSegmentsMember 2025-01-01 2025-03-31 0000763901 us-gaap:CorporateNonSegmentMember 2025-01-01 2025-03-31 0000763901 us-gaap:MaterialReconcilingItemsMember 2025-01-01 2025-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember bpop:CommercialMultiFamilyMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 country:PR us-gaap:ConstructionLoansMember bpop:WatchMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:MortgageReceivablesMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:SubstandardMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-01-01 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-01-01 2026-03-31 0000763901 us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:SubstandardMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:SubstandardMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-01-01 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-01-01 2025-12-31 0000763901 country:US us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:SubstandardMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-01-01 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-01-01 2025-12-31 0000763901 us-gaap:MortgageReceivablesMember 2025-01-01 2025-12-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember 2025-01-01 2025-12-31 0000763901 us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:SubstandardMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-01-01 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2025-01-01 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-01-01 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-01-01 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-01-01 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-01-01 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2025-01-01 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2024-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialLoanMember 2026-01-01 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember 2026-01-01 2026-03-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:RealEstateMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CollateralizedAutoLoansMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:EquipmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember bpop:OtherCollateralMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CollateralPledgedMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CollateralPledgedMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:RealEstateMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CollateralizedAutoLoansMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:EquipmentMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember bpop:OtherCollateralMember us-gaap:ConsumerOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CollateralPledgedMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:RealEstateMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CollateralizedAutoLoansMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:EquipmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember bpop:OtherCollateralMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CollateralPledgedMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:RealEstateMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CollateralizedAutoLoansMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:EquipmentMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember bpop:OtherCollateralMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2025-12-31 0000763901 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember 2025-01-01 2025-12-31 0000763901 bpop:UsviGovernmentDirectExposureMember bpop:FromUsviGovernmentAndPublicCorporationsMember 2025-01-01 2025-12-31 0000763901 bpop:PrGovernmentDirectExposureMember us-gaap:LoansMember 2025-12-31 0000763901 us-gaap:AvailableforsaleSecuritiesMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommonStockMember 2026-01-01 2026-03-31 0000763901 bpop:CumulativePreferredStockSixPointOneTwoFivePercentMember 2026-01-01 2026-03-31 0000763901 us-gaap:PerformanceSharesMember 2026-01-01 2026-03-31 0000763901 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommonStockMember 2026-03-31 0000763901 us-gaap:PreferredStockMember 2026-03-31 0000763901 us-gaap:AdditionalPaidInCapitalMember 2026-03-31 0000763901 us-gaap:RetainedEarningsMember 2026-03-31 0000763901 us-gaap:TreasuryStockCommonMember 2026-03-31 0000763901 bpop:CommercialOrConstructionMember 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2026-03-31 0000763901 bpop:ServicingAssetAtFairValueAmountMember 2026-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2026-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2026-03-31 0000763901 bpop:OtherCountriesMember 2026-03-31 0000763901 us-gaap:OtherAssetsMember 2026-03-31 0000763901 srt:ParentCompanyMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:SecuredDebtMember us-gaap:MaturityUpTo30DaysMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:SecuredDebtMember us-gaap:Maturity30To90DaysMember 2026-03-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:SecuredDebtMember 2026-03-31 0000763901 us-gaap:SecuredDebtMember 2026-03-31 0000763901 bpop:FixedRateAdvancesDueTo2029Member 2026-03-31 0000763901 srt:MinimumMember bpop:FixedRateAdvancesDueTo2029Member 2026-03-31 0000763901 srt:MaximumMember bpop:FixedRateAdvancesDueTo2029Member 2026-03-31 0000763901 srt:MinimumMember us-gaap:JuniorSubordinatedDebtMember bpop:FixedRateJuniorSubordinatedDeferrableInterestDebenturesMaturitiesOn2034Member 2026-03-31 0000763901 srt:MaximumMember us-gaap:JuniorSubordinatedDebtMember bpop:FixedRateJuniorSubordinatedDeferrableInterestDebenturesMaturitiesOn2034Member 2026-03-31 0000763901 us-gaap:FinancialGuaranteeMember 2026-03-31 0000763901 us-gaap:RetainedEarningsMember 2026-01-01 2026-03-31 0000763901 us-gaap:AdditionalPaidInCapitalMember 2026-01-01 2026-03-31 0000763901 us-gaap:TreasuryStockCommonMember 2026-01-01 2026-03-31 0000763901 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2026-01-01 2026-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember bpop:SoftwareDevelopmentAndLicenseCostMember 2026-01-01 2026-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember bpop:CloudComputingArrangementsMember 2026-01-01 2026-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember 2026-01-01 2026-03-31 0000763901 country:PR 2026-01-01 2026-03-31 0000763901 country:US 2026-01-01 2026-03-31 0000763901 bpop:OtherCountriesMember 2026-01-01 2026-03-31 0000763901 bpop:MortgageBankingActivitiesMember 2026-01-01 2026-03-31 0000763901 bpop:TradingGainsLossesMember 2026-01-01 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2025-01-01 2025-03-31 0000763901 bpop:ServicingAssetAtFairValueAmountMember 2025-01-01 2025-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2025-01-01 2025-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2025-01-01 2025-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2025-01-01 2025-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:ServiceChargesOnDepositAccountsMember 2026-01-01 2026-03-31 0000763901 bpop:ServiceChargesOnDepositAccountsMember bpop:BpnaMember 2026-01-01 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:DebitCardFeesMember 2026-01-01 2026-03-31 0000763901 bpop:BpnaMember bpop:DebitCardFeesMember 2026-01-01 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:InsuranceFeesMember 2026-01-01 2026-03-31 0000763901 bpop:BpnaMember bpop:InsuranceFeesMember 2026-01-01 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:CreditCardFeesExcludingLateFeesAndMembershipFeesMember 2026-01-01 2026-03-31 0000763901 bpop:BpnaMember bpop:CreditCardFeesExcludingLateFeesAndMembershipFeesMember 2026-01-01 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:SalesAndAdministrationOfInvestmentProductsMember 2026-01-01 2026-03-31 0000763901 bpop:BpnaMember bpop:SalesAndAdministrationOfInvestmentProductsMember 2026-01-01 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:TrustfeesMember 2026-01-01 2026-03-31 0000763901 bpop:BpnaMember bpop:TrustfeesMember 2026-01-01 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember 2026-01-01 2026-03-31 0000763901 bpop:BpnaMember 2026-01-01 2026-03-31 0000763901 srt:DirectorMember us-gaap:RestrictedStockUnitsRSUMember 2026-01-01 2026-03-31 0000763901 srt:ManagementMember us-gaap:RestrictedStockUnitsRSUMember 2026-01-01 2026-03-31 0000763901 srt:ManagementMember us-gaap:PerformanceSharesMember 2026-01-01 2026-03-31 0000763901 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2026-01-01 2026-03-31 0000763901 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember us-gaap:OtherOperatingIncomeExpenseMember 2026-01-01 2026-03-31 0000763901 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2026-01-01 2026-03-31 0000763901 us-gaap:RetainedEarningsMember 2025-01-01 2025-03-31 0000763901 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-03-31 0000763901 us-gaap:TreasuryStockCommonMember 2025-01-01 2025-03-31 0000763901 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-01-01 2025-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember bpop:MunisPayableFromRealAndPersonalPropertyTaxesMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedMortgageObligationsMember 2025-12-31 0000763901 bpop:PrGovernmentDirectExposureMember 2025-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2025-03-31 0000763901 srt:ManagementMember us-gaap:PerformanceSharesMember 2026-03-31 0000763901 srt:ManagementMember us-gaap:PerformanceSharesMember srt:WeightedAverageMember 2026-01-01 2026-03-31 0000763901 bpop:ServicedMortgageLoansMember bpop:LoansWithRecourseMember us-gaap:FinancialGuaranteeMember 2026-01-01 2026-03-31 0000763901 srt:ParentCompanyMember us-gaap:DebtSecuritiesPayableMember 2026-03-31 0000763901 srt:ParentCompanyMember us-gaap:UnderlyingOtherMember us-gaap:GuaranteeTypeOtherMember 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember country:US 2025-03-31 0000763901 bpop:ServicedMortgageLoansMember us-gaap:FinancialGuaranteeMember 2025-12-31 0000763901 bpop:ServicedMortgageLoansMember us-gaap:FinancialGuaranteeMember 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember 2025-01-01 2025-12-31 0000763901 bpop:CommercialMultiFamilyMember country:US us-gaap:CommercialPortfolioSegmentMember 2025-01-01 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:AccountsReceivableMember 2026-03-31 0000763901 bpop:CommercialMultiFamilyMember country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 bpop:CommercialRealEstateNonOwnerOccupiedMember country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CollateralPledgedMember 2025-12-31 0000763901 bpop:CommercialMultiFamilyMember country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateMember 2025-12-31 0000763901 bpop:CommercialMultiFamilyMember country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 bpop:CommercialMultiFamilyMember country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:EquipmentMember 2025-12-31 0000763901 bpop:CommercialMultiFamilyMember bpop:OtherCollateralMember country:US us-gaap:CommercialPortfolioSegmentMember 2025-12-31 0000763901 bpop:CommercialRealEstateNonOwnerOccupiedMember country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateMember 2025-12-31 0000763901 bpop:CommercialRealEstateNonOwnerOccupiedMember country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CollateralizedAutoLoansMember 2025-12-31 0000763901 bpop:CommercialRealEstateNonOwnerOccupiedMember country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:EquipmentMember 2025-12-31 0000763901 bpop:CommercialRealEstateNonOwnerOccupiedMember bpop:OtherCollateralMember country:US us-gaap:CommercialPortfolioSegmentMember 2025-12-31 0000763901 bpop:InsuredOrGuaranteedByTheUsGovernmentOrItsAgenciesMember us-gaap:CommercialLoanMember 2025-12-31 0000763901 bpop:InsuredOrGuaranteedByTheUsGovernmentOrItsAgenciesMember us-gaap:ResidentialMortgageMember 2025-12-31 0000763901 bpop:InsuredOrGuaranteedByTheUsGovernmentOrItsAgenciesMember us-gaap:ResidentialMortgageMember 2026-03-31 0000763901 bpop:RetailAndCommericalLoansMember country:VG 2025-12-31 0000763901 bpop:PrGovernmentIndirectExposureMember 2025-12-31 0000763901 bpop:IntersegmentTransactionMember 2026-01-01 2026-03-31 0000763901 bpop:PrGovernmentIndirectExposureMember us-gaap:BondsMember 2025-12-31 0000763901 us-gaap:ConstructionLoansMember 2026-01-01 2026-03-31 0000763901 bpop:LoansWithRecourseMember us-gaap:FinancialGuaranteeMember us-gaap:ResidentialMortgageMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 bpop:CommercialMultiFamilyMember us-gaap:CommercialPortfolioSegmentMember 2025-01-01 2025-12-31 0000763901 bpop:PrGovernmentDirectExposureMember us-gaap:SecuritiesInvestmentMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember us-gaap:LoansMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember 2025-03-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember 2025-03-31 0000763901 country:PR us-gaap:ConstructionLoansMember 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember 2025-03-31 0000763901 country:US us-gaap:ConstructionLoansMember 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember 2025-03-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember 2025-03-31 0000763901 us-gaap:ConstructionLoansMember 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2024-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2024-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2024-12-31 0000763901 country:PR us-gaap:ConstructionLoansMember 2024-12-31 0000763901 country:PR us-gaap:MortgageReceivablesMember 2024-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2024-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2024-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2024-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2024-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember 2024-12-31 0000763901 country:PR 2024-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember 2024-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2024-12-31 0000763901 country:PR us-gaap:FinanceLeasesPortfolioSegmentMember 2024-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2024-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2024-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2024-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2024-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2024-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember 2024-12-31 0000763901 country:US us-gaap:ConstructionLoansMember 2024-12-31 0000763901 country:US us-gaap:MortgageReceivablesMember 2024-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2024-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2024-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember 2024-12-31 0000763901 country:US 2024-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerOtherMember 2024-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2024-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2024-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2024-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2024-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember 2024-12-31 0000763901 us-gaap:FinanceLeasesPortfolioSegmentMember 2024-12-31 0000763901 us-gaap:ConstructionLoansMember 2024-12-31 0000763901 us-gaap:MortgageReceivablesMember 2024-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2024-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2024-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2024-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember 2024-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember 2024-12-31 0000763901 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromPrCentralGovernmentMember bpop:MoreThanTenYearsFromBalanceSheetDateMember us-gaap:SecuritiesInvestmentMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromPrCentralGovernmentMember bpop:MoreThanTenYearsFromBalanceSheetDateMember us-gaap:LoansMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromPrCentralGovernmentMember bpop:MoreThanTenYearsFromBalanceSheetDateMember 2026-03-31 0000763901 bpop:PrGovernmentDirectExposureMember bpop:FromPrCentralGovernmentMember bpop:MoreThanTenYearsFromBalanceSheetDateMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 bpop:BhdLeonMember us-gaap:CashDistributionMember 2025-01-01 2025-03-31 0000763901 bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:CommercialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 bpop:PaymentDeferralAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:InterestRateBelowMarketReductionMember us-gaap:CommercialAndIndustrialSectorMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityMember us-gaap:CommercialAndIndustrialSectorMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:PaymentDeferralMember us-gaap:CommercialAndIndustrialSectorMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember us-gaap:CommercialAndIndustrialSectorMember 2026-01-01 2026-03-31 0000763901 bpop:PaymentDeferralAndInterestRateReductionMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-01-01 2025-03-31 0000763901 bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:CommercialPortfolioSegmentMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2025-01-01 2025-03-31 0000763901 bpop:CommercialRealEstateOwnerOccupiedMember bpop:PaymentDeferralAndInterestRateReductionMember us-gaap:CommercialPortfolioSegmentMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:InterestRateBelowMarketReductionMember us-gaap:CommercialAndIndustrialSectorMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityMember us-gaap:CommercialAndIndustrialSectorMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:PaymentDeferralMember us-gaap:CommercialAndIndustrialSectorMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember us-gaap:CommercialAndIndustrialSectorMember 2025-01-01 2025-03-31 0000763901 bpop:PaymentDeferralAndInterestRateReductionMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-01-01 2025-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:InterestRateBelowMarketReductionMember 2025-01-01 2025-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 bpop:PaymentDeferralAndInterestRateReductionMember us-gaap:MortgageReceivablesMember 2025-01-01 2025-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 bpop:PaymentDeferralAndInterestRateReductionMember us-gaap:MortgageReceivablesMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:InterestRateBelowMarketReductionMember us-gaap:CreditCardReceivablesMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ExtendedMaturityMember us-gaap:CreditCardReceivablesMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:PaymentDeferralMember us-gaap:CreditCardReceivablesMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember us-gaap:CreditCardReceivablesMember 2026-01-01 2026-03-31 0000763901 bpop:PaymentDeferralAndInterestRateReductionMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 bpop:PaymentDeferralAndInterestRateReductionMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ExtendedMaturityMember us-gaap:CreditCardReceivablesMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember us-gaap:CreditCardReceivablesMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 bpop:PaymentDeferralAndInterestRateReductionMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember us-gaap:AutomobileLoanMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember us-gaap:AutomobileLoanMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember us-gaap:AutomobileLoanMember 2026-01-01 2026-03-31 0000763901 bpop:CommercialRealEstateNonOwnerOccupiedMember country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 bpop:CommercialRealEstateNonOwnerOccupiedMember country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:PaymentDeferralMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:InterestRateBelowMarketReductionMember us-gaap:AutomobileLoanMember 2026-01-01 2026-03-31 0000763901 country:VG 2026-01-01 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember bpop:MunisPayableFromRealAndPersonalPropertyTaxesMember us-gaap:PassMember 2026-03-31 0000763901 bpop:PuertoRicoStatesAndPoliticalSubdivisionsDebtSecuritiesMember bpop:MunisPayableFromRealAndPersonalPropertyTaxesMember 2026-03-31 0000763901 bpop:ValuationTechniqueExternalAppraisalMember us-gaap:FairValueInputsLevel3Member srt:MinimumMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:LoansReceivableMember 2025-01-01 2025-03-31 0000763901 bpop:ValuationTechniqueExternalAppraisalMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:LoansReceivableMember srt:MaximumMember 2025-01-01 2025-03-31 0000763901 bpop:CommercialMultiFamilyMember us-gaap:CommercialPortfolioSegmentMember country:US us-gaap:FinancialAssetNotPastDueMember 2025-03-31 0000763901 bpop:CommercialMultiFamilyMember us-gaap:CommercialPortfolioSegmentMember country:US us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-03-31 0000763901 bpop:CommercialMultiFamilyMember us-gaap:CommercialPortfolioSegmentMember country:US us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-03-31 0000763901 bpop:CommercialMultiFamilyMember us-gaap:CommercialPortfolioSegmentMember country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2025-03-31 0000763901 bpop:CommercialMultiFamilyMember us-gaap:CommercialPortfolioSegmentMember country:US us-gaap:FinancialAssetPastDueMember 2025-03-31 0000763901 bpop:CommonStockRepurchaseProgramMember 2026-01-01 2026-03-31 0000763901 bpop:CommonStockRepurchaseProgramMember 2026-03-31 0000763901 us-gaap:HeldtomaturitySecuritiesMember 2026-01-01 2026-03-31 0000763901 bpop:OtherCountriesMember 2025-12-31 0000763901 us-gaap:OtherLiabilitiesMember 2025-12-31 0000763901 srt:ParentCompanyMember us-gaap:DebtSecuritiesPayableMember 2025-12-31 0000763901 srt:ParentCompanyMember us-gaap:UnderlyingOtherMember us-gaap:GuaranteeTypeOtherMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:SecuredDebtMember us-gaap:MaturityUpTo30DaysMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:SecuredDebtMember us-gaap:Maturity30To90DaysMember 2025-12-31 0000763901 us-gaap:USTreasurySecuritiesMember us-gaap:SecuredDebtMember 2025-12-31 0000763901 bpop:FixedRateAdvancesDueTo2029Member 2025-12-31 0000763901 us-gaap:PerformanceSharesMember 2025-12-31 0000763901 srt:DirectorMember 2025-12-31 0000763901 bpop:LoansWithRecourseMember us-gaap:FinancialGuaranteeMember us-gaap:ResidentialMortgageMember 2025-12-31 0000763901 us-gaap:OtherAssetsMember 2025-12-31 0000763901 us-gaap:SecuredDebtMember 2025-12-31 0000763901 us-gaap:FinancialGuaranteeMember 2025-12-31 0000763901 bpop:PopularBankMember us-gaap:OperatingSegmentsMember 2026-03-31 0000763901 us-gaap:OperatingSegmentsMember 2026-03-31 0000763901 us-gaap:MaterialReconcilingItemsMember 2026-03-31 0000763901 us-gaap:IntersegmentEliminationMember 2026-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember us-gaap:OperatingSegmentsMember 2026-03-31 0000763901 us-gaap:CorporateNonSegmentMember 2026-03-31 0000763901 us-gaap:CommonStockMember 2025-03-31 0000763901 us-gaap:PreferredStockMember 2025-03-31 0000763901 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0000763901 us-gaap:RetainedEarningsMember 2025-03-31 0000763901 us-gaap:TreasuryStockCommonMember 2025-03-31 0000763901 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-03-31 0000763901 us-gaap:CommonStockMember 2025-12-31 0000763901 us-gaap:PreferredStockMember 2025-12-31 0000763901 us-gaap:AdditionalPaidInCapitalMember 2025-12-31 0000763901 us-gaap:RetainedEarningsMember 2025-12-31 0000763901 us-gaap:TreasuryStockCommonMember 2025-12-31 0000763901 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-12-31 0000763901 bpop:CommercialOrConstructionMember 2025-12-31 0000763901 us-gaap:MortgageReceivablesMember 2025-12-31 0000763901 bpop:CommercialOrConstructionMember 2025-03-31 0000763901 us-gaap:MortgageReceivablesMember 2025-03-31 0000763901 us-gaap:OperatingSegmentsMember 2025-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember us-gaap:OperatingSegmentsMember 2025-03-31 0000763901 bpop:PopularBankMember us-gaap:OperatingSegmentsMember 2025-03-31 0000763901 us-gaap:IntersegmentEliminationMember 2025-03-31 0000763901 us-gaap:CorporateNonSegmentMember 2025-03-31 0000763901 us-gaap:MaterialReconcilingItemsMember 2025-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2026-01-01 2026-03-31 0000763901 bpop:ServicingAssetAtFairValueAmountMember 2026-01-01 2026-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2026-01-01 2026-03-31 0000763901 us-gaap:OtherDebtSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2026-01-01 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2026-01-01 2026-03-31 0000763901 us-gaap:MortgageBackedSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2025-12-31 0000763901 us-gaap:MortgageBackedSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2025-12-31 0000763901 bpop:ServicingAssetAtFairValueAmountMember 2025-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember us-gaap:AvailableforsaleSecuritiesMember 2025-12-31 0000763901 us-gaap:OtherDebtSecuritiesMember bpop:TradingAccountDebtSecuritiesMember 2025-12-31 0000763901 bpop:MortgageBankingActivitiesMember 2025-01-01 2025-03-31 0000763901 bpop:TradingGainsLossesMember 2025-01-01 2025-03-31 0000763901 us-gaap:CommercialLoanMember 2025-01-01 2025-03-31 0000763901 us-gaap:MortgageReceivablesMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember 2025-12-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember 2025-12-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConstructionLoansMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConstructionLoansMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2025-12-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialMultiFamilyMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConstructionLoansMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:HomeEquityMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 country:PR bpop:PaymentDeferralAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 country:US bpop:PaymentDeferralAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateNonOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialRealEstateOwnerOccupiedMember us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember us-gaap:PaymentDeferralMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember bpop:PaymentDeferralAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember bpop:PaymentDeferralAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember bpop:CommercialAndIndustrialLoansMember bpop:PaymentDeferralAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember bpop:PaymentDeferralAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember bpop:PaymentDeferralAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 bpop:CommercialAndIndustrialLoansMember country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 bpop:CommercialAndIndustrialLoansMember country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 bpop:CommercialAndIndustrialLoansMember us-gaap:CommercialPortfolioSegmentMember us-gaap:ExtendedMaturityAndInterestRateReductionMember 2026-01-01 2026-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember bpop:SoftwareDevelopmentAndLicenseCostMember 2025-01-01 2025-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember bpop:CloudComputingArrangementsMember 2025-01-01 2025-03-31 0000763901 us-gaap:ComputerSoftwareIntangibleAssetMember 2025-01-01 2025-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:ServiceChargesOnDepositAccountsMember 2025-01-01 2025-03-31 0000763901 bpop:ServiceChargesOnDepositAccountsMember bpop:BpnaMember 2025-01-01 2025-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:DebitCardFeesMember 2025-01-01 2025-03-31 0000763901 bpop:BpnaMember bpop:DebitCardFeesMember 2025-01-01 2025-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:InsuranceFeesMember 2025-01-01 2025-03-31 0000763901 bpop:BpnaMember bpop:InsuranceFeesMember 2025-01-01 2025-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:CreditCardFeesExcludingLateFeesAndMembershipFeesMember 2025-01-01 2025-03-31 0000763901 bpop:BpnaMember bpop:CreditCardFeesExcludingLateFeesAndMembershipFeesMember 2025-01-01 2025-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:SalesAndAdministrationOfInvestmentProductsMember 2025-01-01 2025-03-31 0000763901 bpop:BpnaMember bpop:SalesAndAdministrationOfInvestmentProductsMember 2025-01-01 2025-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember bpop:TrustfeesMember 2025-01-01 2025-03-31 0000763901 bpop:BpnaMember bpop:TrustfeesMember 2025-01-01 2025-03-31 0000763901 bpop:BancoPopularDePuertoRicoMember 2025-01-01 2025-03-31 0000763901 bpop:BpnaMember 2025-01-01 2025-03-31 0000763901 bpop:IntersegmentTransactionMember 2025-01-01 2025-03-31 0000763901 us-gaap:PerformanceSharesMember 2025-01-01 2025-12-31 0000763901 bpop:BancoPopularDePuertoRicoMember us-gaap:OperatingSegmentsMember 2026-01-01 2026-03-31 0000763901 bpop:PopularBankMember us-gaap:OperatingSegmentsMember 2026-01-01 2026-03-31 0000763901 us-gaap:IntersegmentEliminationMember 2026-01-01 2026-03-31 0000763901 us-gaap:OperatingSegmentsMember 2026-01-01 2026-03-31 0000763901 us-gaap:CorporateNonSegmentMember 2026-01-01 2026-03-31 0000763901 us-gaap:MaterialReconcilingItemsMember 2026-01-01 2026-03-31 0000763901 bpop:OtherCountriesMember 2025-01-01 2025-03-31 0000763901 srt:DirectorMember 2025-01-01 2025-12-31 0000763901 srt:ManagementMember us-gaap:RestrictedStockUnitsRSUMember 2025-01-01 2025-03-31 0000763901 srt:ManagementMember us-gaap:PerformanceSharesMember 2025-01-01 2025-03-31 0000763901 srt:DirectorMember us-gaap:RestrictedStockUnitsRSUMember 2025-01-01 2025-03-31 0000763901 bpop:ServicedMortgageLoansMember bpop:LoansWithRecourseMember us-gaap:FinancialGuaranteeMember 2025-01-01 2025-03-31 0000763901 us-gaap:OtherLiabilitiesMember 2026-03-31 0000763901 us-gaap:CommonStockMember 2025-01-01 2025-03-31 0000763901 us-gaap:CashDistributionMember bpop:BhdLeonMember 2026-01-01 2026-03-31 0000763901 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember 2025-01-01 2025-03-31 0000763901 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember us-gaap:OtherAggregatedInvestmentsMember 2025-01-01 2025-03-31 0000763901 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2025-01-01 2025-03-31 0000763901 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember us-gaap:OtherOperatingIncomeExpenseMember 2025-01-01 2025-03-31 0000763901 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2025-01-01 2025-03-31 0000763901 bpop:CommonStockRepurchaseProgramMember 2025-01-01 2025-03-31 0000763901 us-gaap:ConstructionLoansMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:US us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:US us-gaap:FinancialAssetNotPastDueMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralPledgedMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:RealEstateMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:CollateralizedAutoLoansMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:EquipmentMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember bpop:OtherCollateralMember 2026-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2025-12-31 0000763901 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:LoansReceivableMember 2026-03-31 0000763901 bpop:MunisPayableFromUsTreasureSecuritiesProceedsMember 2025-12-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 bpop:NoncreditCommitmentMember 2026-03-31 0000763901 bpop:NoncreditCommitmentMember 2025-12-31 0000763901 srt:MaximumMember 2026-03-31 0000763901 us-gaap:FairValueInputsLevel3Member srt:MinimumMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:LoansReceivableMember bpop:ValuationTechniqueExternalAppraisalMember 2026-01-01 2026-03-31 0000763901 us-gaap:FairValueInputsLevel3Member srt:MaximumMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:LoansReceivableMember bpop:ValuationTechniqueExternalAppraisalMember 2026-01-01 2026-03-31 0000763901 us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:LoansReceivableMember bpop:ValuationTechniqueExternalAppraisalMember 2026-01-01 2026-03-31 0000763901 country:PR us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:SpecialMentionMember bpop:CommercialRealEstateNonOwnerOccupiedMember 2026-03-31 0000763901 us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember 2026-03-31 0000763901 us-gaap:CommercialLoanMember bpop:BancoPopularDePuertoRicoMember bpop:PrGovernmentIndirectExposureMember 2026-03-31 0000763901 us-gaap:CommercialLoanMember bpop:BancoPopularDePuertoRicoMember bpop:PrGovernmentIndirectExposureMember 2025-12-31 0000763901 bpop:MunisPayableFromUsTreasureSecuritiesProceedsMember 2026-03-31 0000763901 country:PR us-gaap:MortgageReceivablesMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 country:US us-gaap:MortgageReceivablesMember us-gaap:InterestRateBelowMarketReductionMember 2026-01-01 2026-03-31 0000763901 us-gaap:ConsumerPortfolioSegmentMember us-gaap:InterestRateBelowMarketReductionMember us-gaap:ConsumerOtherMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:InterestRateBelowMarketReductionMember us-gaap:ConsumerOtherMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:InterestRateBelowMarketReductionMember us-gaap:ConsumerOtherMember 2025-01-01 2025-03-31 0000763901 country:PR us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:AutomobileLoanMember us-gaap:ExtendedMaturityMember 2025-01-01 2025-03-31 0000763901 country:US us-gaap:PassMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:CreditCardReceivablesMember 2026-03-31 0000763901 us-gaap:HeldtomaturitySecuritiesMember us-gaap:AssetPledgedAsCollateralMember 2025-12-31 0000763901 us-gaap:HeldtomaturitySecuritiesMember us-gaap:AssetNotPledgedAsCollateralAndAssetPledgedAsCollateralWithoutRightMember 2025-12-31 0000763901 country:US us-gaap:ConsumerPortfolioSegmentMember us-gaap:UnlikelyToBeCollectedFinancingReceivableMember us-gaap:ConsumerOtherMember 2025-12-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 country:US us-gaap:FinancialAssetPastDueMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:CommercialAndIndustrialSectorMember 2025-03-31 0000763901 country:US us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialAndIndustrialSectorMember us-gaap:FinancialAssetNotPastDueMember 2025-03-31 iso4217:USD xbrli:pure xbrli:shares iso4217:USD xbrli:shares bpop:units bpop:NumberOfVIE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
10-Q
[X]
 
Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended
 
March 31, 2026
or
[ ]
 
Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Commission File Number:
 
001-34084
POPULAR, INC.
(Exact name of registrant as specified in its charter)
Puerto Rico
66-0667416
(State or other jurisdiction of Incorporation or
(IRS Employer Identification Number)
organization)
Popular Center Building
209 Muñoz Rivera Avenue
Hato Rey
,
Puerto Rico
00918
(Address of principal executive offices)
(Zip code)
(
787
)
765-9800
(Registrant’s telephone number, including area code)
NOT APPLICABLE
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which
registered
Common Stock ($0.01 par value)
BPOP
The
NASDAQ Stock Market
6.125% Cumulative Monthly Income Trust
Preferred Securities
BPOPM
The
NASDAQ Stock Market
Indicate by check mark whether the registrant (1) has filed all reports
 
required to be filed by Section 13 or 15(d) of the
Securities Exchange
 
Act of
 
1934 during
 
the preceding
 
12 months
 
(or for
 
such shorter
 
period that
 
the registrant
 
was
required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
[X]
 
Yes
[
 
]
 
No
Indicate by
 
check mark
 
whether the registrant
 
has submitted
 
electronically every
 
Interactive Data
 
File required to
 
be
submitted pursuant to
 
Rule 405 of
 
Regulation S-T (§
 
232.405 of this
 
chapter) during the
 
preceding 12 months
 
(or for
such shorter period that the registrant was required to submit such files).
[X]
 
Yes
[
 
]
 
No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,
smaller reporting company, or an emerging growth company.
 
See definitions of “large accelerated filer”, “accelerated
filer,” “smaller reporting company,”
 
and “emerging growth company” in Rule 12b-2 of the Exchange Act:
Large accelerated filer
 
[X]
Accelerated filer [
 
]
Non-accelerated filer [
 
]
Smaller reporting company
[ ]
Emerging growth company
[ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended
transition period for complying with any new or revised financial accounting standards provided pursuant to Section
13(a) of the Exchange Act.
 
[
 
]
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
[
 
]
 
Yes
[X]
 
No
Indicate
 
the
 
number
 
of
 
shares
 
outstanding
 
of
 
each
 
of
 
the
 
issuer’s
 
classes
 
of
 
common
 
stock,
 
as
 
of
 
the
 
latest
practicable date:
 
Common Stock, $0.01 par value,
64,537,709
 
shares outstanding as of May 5, 2026.
 
 
 
2
POPULAR, INC.
INDEX
Part I – Financial Information
Page
Item 1. Financial Statements
Unaudited Consolidated Statements of Financial Condition
 
at March 31, 2026 and
December 31, 2025
6
Unaudited Consolidated Statements of Operations for
 
the quarters
 
ended March 31, 2026 and 2025
7
Unaudited Consolidated Statements of Comprehensive
 
Income for the
quarters
 
ended March 31, 2026 and 2025
8
Unaudited Consolidated Statements of Changes in
 
Stockholders’ Equity for the
quarters ended March 31, 2026 and 2025
9
Unaudited Consolidated Statements of Cash Flows for
 
the quarters
ended March 31, 2026 and 2025
11
Notes to Unaudited Consolidated Financial Statements
13
Item 2. Management’s Discussion and Analysis of Financial
 
Condition and
 
 
Results of Operations
105
Item 3. Quantitative and Qualitative Disclosures about
 
Market Risk
 
143
Item 4. Controls and Procedures
143
Part II – Other Information
Item 1. Legal Proceedings
144
Item 1A. Risk Factors
144
Item 2. Unregistered Sales of Equity Securities and
 
Use of Proceeds
 
145
 
Item 3. Defaults Upon Senior Securities
145
Item 4. Mine Safety Disclosures
145
Item 5. Other information
 
145
Item 6. Exhibits
161
Signatures
 
162
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3
Forward-Looking Statements
This
 
Form 10-Q
 
contains “forward-looking
 
statements” within
 
the meaning
 
of the
 
U.S. Private
 
Securities Litigation
 
Reform Act
 
of
1995,
 
including,
 
without
 
limitation,
 
statements
 
about
 
Popular,
 
Inc.’s
 
(the
 
“Corporation,”
 
“Popular,”
 
“we,”
 
“us,”
 
“our”)
 
business,
financial condition, results
 
of operations, plans,
 
objectives and future
 
performance. These statements
 
are not
 
guarantees of future
performance,
 
are
 
based
 
on
 
management’s
 
current
 
expectations
 
and,
 
by
 
their
 
nature,
 
involve
 
risks,
 
uncertainties,
 
estimates
 
and
assumptions. Potential
 
factors, some
 
of which
 
are beyond
 
the Corporation’s
 
control, could
 
cause actual
 
results to
 
differ materially
from those expressed in, or implied by, such forward-looking statements. Risks and uncertainties include without limitation the effect
of competitive and
 
economic factors, and our
 
reaction to those factors,
 
the adequacy of
 
the allowance for loan
 
losses, delinquency
trends, market
 
risk and
 
the impact
 
of interest
 
rate changes
 
(including on
 
our cost
 
of deposits),
 
capital markets
 
conditions, capital
adequacy
 
and
 
liquidity,
 
and
 
the
 
effect
 
of
 
legal
 
and
 
regulatory
 
proceedings
 
and
 
new
 
accounting
 
standards
 
on
 
the
 
Corporation’s
financial condition
 
and results
 
of operations.
 
All statements
 
contained herein
 
that
 
are not
 
clearly
 
historical in
 
nature are
 
forward-
looking, and the words “anticipate,” “believe,” “continues,”
 
“expect,” “estimate,” “intend,” “project” and similar expressions
 
and future
or conditional verbs
 
such as
 
“will,” “would,” “should,”
 
“could,” “might,” “can,”
 
“may” or similar
 
expressions are
 
generally intended to
identify forward-looking statements.
 
Various factors, some of which
 
are beyond Popular’s control, could cause actual results to differ materially from those expressed in,
or implied by, such forward-looking statements. Factors that might cause such a
 
difference include, but are not limited to:
 
●
 
the
 
rate
 
of
 
growth
 
or
 
decline
 
in
 
the
 
economy
 
and
 
employment
 
levels,
 
as
 
well
 
as
 
general
 
business
 
and
 
economic
conditions
 
in
 
the
 
geographic
 
areas
 
we
 
serve
 
and,
 
in
 
particular,
 
in
 
the
 
Commonwealth
 
of
 
Puerto
 
Rico
 
(the
“Commonwealth” or “Puerto Rico”), where a significant
 
portion of our business is concentrated;
●
 
adverse economic conditions, including high levels of inflation, and geopolitical conditions, including wars and conflicts,
that
 
adversely affect
 
housing prices,
 
the
 
job market,
 
consumer confidence
 
and spending
 
habits which
 
may
 
affect
 
in
turn, among other things, our level of non-performing
 
assets, charge-offs and provision expense;
●
 
changes in interest rates and market liquidity,
 
which may reduce interest margins, impact funding sources, reduce loan
originations, affect
 
our ability
 
to originate
 
and distribute
 
financial products
 
in the
 
primary and
 
secondary markets
 
and
impact the value of our investment portfolio and
 
our ability to return capital to our shareholders;
●
 
the
 
impact
 
of
 
bank
 
failures
 
or
 
adverse
 
developments
 
at
 
other
 
banks
 
and
 
related
 
negative
 
media
 
coverage
 
of
 
the
banking industry in general on investor and depositor
 
sentiment regarding the stability and liquidity of
 
banks;
●
 
the impact of the current fiscal and economic challenges of Puerto Rico and
 
the measures taken and to be taken by the
Puerto
 
Rico
 
Government
 
and
 
the
 
Federally-appointed
 
oversight
 
board
 
on
 
the
 
economy,
 
our
 
customers
 
and
 
our
business;
●
 
the
 
amount of
 
Puerto Rico
 
public sector
 
deposits held
 
at
 
the Corporation,
 
whose future
 
balances are
 
uncertain and
difficult
 
to
 
predict
 
and
 
may
 
be
 
impacted
 
by
 
factors
 
such
 
as
 
the
 
amount
 
of
 
Federal
 
funds
 
received
 
by
 
the
 
P.R.
Government
 
and
 
the
 
rate
 
of
 
expenditure
 
of
 
such
 
funds,
 
as
 
well
 
as
 
the
 
financial
 
condition,
 
liquidity
 
and
 
cash
management practices of the Puerto Rico Government
 
and its instrumentalities;
●
 
unforeseen or
 
catastrophic events,
 
including extreme
 
weather events
 
such as
 
hurricanes and
 
other natural
 
disasters,
man-made disasters, acts of violence, war
 
or conflicts,
 
or pandemics, epidemics and other health-related crises, or
 
the
fear of any such
 
event occurring, any of
 
which could cause adverse consequences for
 
our business, including, but
 
not
limited to, disruptions in our operations;
●
 
our ability to achieve the
 
expected benefits from our transformation initiatives, including our
 
ability to achieve projected
earnings, efficiencies and
 
return on tangible
 
common equity and
 
accurately anticipate costs
 
and expenses associated
therewith;
●
our ability to execute capital actions, including with
 
respect to share repurchases and dividends;
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4
●
 
the fiscal and monetary policies of the federal government
 
and its agencies;
●
 
changes in
 
federal
 
bank regulatory
 
and supervisory
 
policies, including
 
required levels
 
of
 
capital, liquidity,
 
resolution-
related requirements and the impact of other proposed
 
capital standards on our capital ratios;
●
 
the impact of any future U.S. government
 
shutdown;
●
 
changes
 
in
 
and
 
uncertainty
 
regarding
 
federal
 
funding,
 
tax
 
and
 
trade
 
policies,
 
and
 
federal
 
rulemaking,
 
supervision,
examination and enforcement priorities;
●
 
adjustments to or additional Federal Deposit Insurance
 
Corporation (“FDIC”) assessments;
●
 
regulatory approvals
 
that may
 
be necessary
 
to undertake
 
certain actions
 
or consummate
 
strategic transactions,
 
such
as acquisitions and dispositions;
●
 
the
 
relative strength
 
or
 
weakness
 
of
 
the
 
consumer and
 
commercial credit
 
sectors
 
and
 
of
 
the
 
real
 
estate markets
 
in
Puerto Rico and the other markets in which
 
our borrowers are located;
●
 
a deterioration in the credit quality of our
 
clients, customers and counterparties;
●
 
the performance of the stock and bond markets;
●
 
competition in the financial services industry;
●
 
possible legislative, tax or regulatory changes;
●
 
a failure
 
in or
 
breach of
 
our operational
 
or security
 
systems or
 
infrastructure or
 
those of
 
Evertec, Inc.,
 
our provider
 
of
core financial
 
transaction processing and
 
information technology services,
 
or of
 
third parties
 
providing services
 
to us,
including
 
as
 
a
 
result
 
of
 
cyberattacks, e-fraud,
 
denial-of-services and
 
computer intrusion,
 
that
 
might result
 
in,
 
among
other
 
things,
 
loss
 
or
 
breach
 
of
 
customer
 
data,
 
disruption
 
of
 
services,
 
reputational
 
damage
 
or
 
additional
 
costs
 
to
Popular;
●
 
changes in market rates and prices which may
 
adversely impact the value of financial assets
 
and liabilities;
●
 
potential judgments,
 
claims, damages,
 
penalties, fines,
 
enforcement actions
 
and
 
reputational damage
 
resulting from
pending or future litigation and regulatory or government
 
investigations or actions;
●
 
changes in accounting standards, rules and interpretations;
●
 
our ability to grow our core businesses;
●
 
decisions to downsize, sell or close branches or business
 
units or otherwise change our business mix;
 
and
●
 
management’s ability to identify and manage these and
 
other risks.
Moreover, the
 
outcome of any
 
legal and
 
regulatory proceedings, as
 
discussed in “Part
 
II, Item
 
1. Legal Proceedings,”
 
is inherently
uncertain and depends on judicial interpretations of law and the findings of regulators, judges and/or juries. Investors should refer to
the Corporation’s Annual
 
Report on Form
 
10-K for the
 
year ended December 31,
 
2025 (the “2025
 
Form 10-K”), as
 
well as “Part
 
II,
Item 1A” of our Quarterly
 
Report on this Form 10-Q for
 
a discussion of such factors and
 
certain risks and uncertainties to which the
Corporation is subject.
All forward-looking
 
statements included
 
in this
 
Form 10-Q
 
are based
 
upon information
 
available to
 
Popular as
 
of the
 
date of
 
this
Form 10-Q, and other than as
 
required by law, including the
 
requirements of applicable securities laws, we assume no
 
obligation to
5
update or revise any such forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date
of such statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6
POPULAR, INC.
CONSOLIDATED STATEMENTS
 
OF FINANCIAL CONDITION
(UNAUDITED)
[UNAUDITED]
March 31,
December 31,
(In thousands, except share information)
2026
2025
Assets:
Cash and due from banks
$
384,922
$
402,755
Money market investments:
 
Time deposits with other banks
 
4,655,699
4,626,506
Total money market investments
4,655,699
4,626,506
Trading account debt securities, at fair value
30,449
36,569
Debt securities available-for-sale, at fair
 
value:
Pledged securities with creditors’ right to repledge
 
30,289
30,687
Other debt securities available-for-sale
21,702,980
20,544,285
Debt securities available-for-sale
21,733,269
20,574,972
Debt securities held-to-maturity, at amortized cost:
Pledged securities with creditors’ right to repledge
 
4,705
9,298
Other debt securities held-to-maturity
6,957,954
7,318,231
Debt securities held-to-maturity (fair
 
value 2026 - $
6,963,223
; 2025 - $
7,363,587
)
6,962,659
7,327,529
Less – Allowance for credit losses
5,900
5,812
Debt securities held-to-maturity, net
6,956,759
7,321,717
Equity securities (realizable value 2026 -
 
$
217,696
; 2025 - $
230,388
)
217,167
229,848
Loans held-for-sale, at fair value
5,603
9,998
Loans held-in-portfolio
39,703,844
39,749,142
Less – Unearned income
414,142
421,624
 
Allowance for credit losses
823,729
808,056
Total loans held-in-portfolio, net
38,465,973
38,519,462
Premises and equipment, net
706,233
685,820
Other real estate
45,680
42,433
Accrued income receivable
308,617
300,824
Mortgage servicing rights, at fair value
94,232
96,356
Other assets
1,731,769
1,705,977
Goodwill
789,954
789,954
Other intangible assets
4,692
5,076
Total assets
$
76,131,018
$
75,348,267
Liabilities and Stockholders’ Equity
Liabilities:
 
Deposits:
Non-interest bearing
$
15,785,788
$
15,304,209
Interest bearing
51,825,528
50,885,884
Total deposits
67,611,316
66,190,093
Assets sold under agreements to repurchase
34,576
39,001
Other short-term borrowings
350,000
650,000
Notes payable
734,981
759,577
Other liabilities
1,089,059
1,460,517
Total liabilities
69,819,932
69,099,188
Commitments and contingencies (Refer
 
to Note 18)
 
 
Stockholders’ equity:
 
Preferred stock,
30,000,000
 
shares authorized;
885,726
 
shares issued and outstanding (2025
-
885,726
)
22,143
22,143
Common stock, $
0.01
 
par value;
170,000,000
 
shares authorized;
104,936,510
 
shares issued (2025 -
104,921,229
) and
64,654,788
 
shares outstanding (2025 -
65,719,385
)
1,049
1,049
Surplus
4,928,636
4,924,296
Retained earnings
5,403,176
5,206,497
Treasury stock - at cost,
40,281,722
 
shares (2025 -
39,201,844
)
 
(2,875,230)
(2,722,819)
Accumulated other comprehensive loss, net
 
of tax
 
(1,168,688)
(1,182,087)
Total stockholders’ equity
 
6,311,086
6,249,079
Total liabilities and stockholders’ equity
$
76,131,018
$
75,348,267
The accompanying notes are an integral part of
 
these Consolidated Financial Statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
7
POPULAR, INC.
CONSOLIDATED STATEMENTS
 
OF OPERATIONS
(UNAUDITED)
Quarters ended March 31,
(In thousands, except per share information)
2026
2025
Interest income:
Loans
$
702,149
$
666,673
Money market investments
44,240
70,166
Investment securities
200,827
180,159
Total interest income
947,216
916,998
Interest expense:
 
Deposits
259,418
297,863
Short-term borrowings
5,703
1,426
Long-term debt
11,915
12,112
Total interest expense
277,036
311,401
Net interest income
 
670,180
605,597
Provision for credit losses
75,886
64,081
Net interest income after provision for credit losses
594,294
541,516
Non-interest income:
 
Service charges on deposit accounts
38,766
39,054
Other service fees
102,921
94,508
Mortgage banking activities
 
4,213
3,689
Net gain (loss), including impairment on equity securities
1,029
(414)
Net gain on trading account debt securities
261
520
Adjustments to indemnity reserves on loans sold
 
35
173
Other operating income
18,401
14,531
Total non-interest income
165,626
152,061
Operating expenses:
 
Personnel costs
216,069
212,713
Net occupancy expenses
27,299
27,218
Equipment expenses
5,229
5,302
Other taxes
17,677
18,725
Professional fees
25,553
26,825
Technology and software expenses
89,139
83,668
Processing and transactional services
39,087
37,781
Communications
4,509
4,904
Business promotion
22,860
23,675
Deposit insurance
9,917
10,035
Other real estate owned (OREO) expense (income)
(4,618)
(3,330)
Other operating expenses
14,205
22,899
Amortization of intangibles
384
597
Total operating expenses
467,310
471,012
Income before income tax
292,610
222,565
Income tax expense
46,936
45,063
Net Income
$
245,674
$
177,502
Net Income Applicable to Common Stock
 
$
245,321
$
177,149
Net Income per Common Share - Basic
$
3.78
$
2.56
Net Income per Common Share - Diluted
$
3.78
$
2.56
The accompanying notes are an integral part of
 
these Consolidated Financial Statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8
POPULAR, INC.
CONSOLIDATED STATEMENTS
 
OF COMPREHENSIVE INCOME
(UNAUDITED)
Quarters ended March 31,
(In thousands)
2026
2025
Net income
 
$
245,674
$
177,502
Other comprehensive income before tax:
Foreign currency translation adjustment
(256)
(6,646)
Amortization of net losses of pension and
 
postretirement benefit plans
2,258
2,273
Unrealized holding (losses) gains on debt securities arising
 
during the period
 
(33,096)
165,984
Amortization of unrealized losses of debt securities transfer
 
from available-for-sale to held-to-
maturity
46,876
45,311
Other comprehensive income before tax
15,782
206,922
Income tax expense
(2,383)
(35,669)
Total other comprehensive income, net of tax
13,399
171,253
Comprehensive income, net of tax
$
259,073
$
348,755
Tax effect allocated to each component of other comprehensive income:
Quarters ended March 31,
(In thousands)
2026
2025
Amortization of net losses of pension and postretirement
 
benefit plans
(847)
(852)
Unrealized holding (losses) gains on debt securities arising
 
during the period
 
7,839
(25,755)
Amortization of unrealized losses of debt securities
 
transfer from available-for-sale to held-to-
maturity
(9,375)
(9,062)
Income tax expense
$
(2,383)
$
(35,669)
The accompanying notes are an integral part of
 
these Consolidated Financial Statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9
POPULAR, INC.
CONSOLIDATED STATEMENTS
 
OF CHANGES IN STOCKHOLDERS’ EQUITY
(UNAUDITED)
Accumulated
 
other
Common
Preferred
 
Retained
Treasury
comprehensive
(In thousands)
stock
stock
Surplus
earnings
stock
loss
Total
Balance at December 31, 2024
$
1,048
$
22,143
$
4,908,693
$
4,570,957
$
(2,228,535)
$
(1,661,240)
$
5,613,066
Net income
177,502
177,502
Issuances of common stock
1
1,769
1,770
Dividends declared:
Common stock
[1]
(48,409)
(48,409)
Preferred stock
(353)
(353)
Common stock purchases
[2]
(125,980)
(125,980)
Stock based compensation
2,424
8,422
10,846
Other comprehensive income, net of tax
171,253
171,253
Balance at March 31, 2025
 
$
1,049
$
22,143
$
4,912,886
$
4,699,697
$
(2,346,093)
$
(1,489,987)
$
5,799,695
Balance at December 31, 2025
$
1,049
$
22,143
$
4,924,296
$
5,206,497
$
(2,722,819)
$
(1,182,087)
$
6,249,079
Net income
245,674
245,674
Issuances of common stock
1,824
1,824
Dividends declared:
Common stock
[1]
(48,665)
(48,665)
Preferred stock
(353)
(353)
Common stock purchases
[3]
(160,228)
(160,228)
Stock based compensation
2,516
7,817
10,333
Other comprehensive income, net of tax
13,399
13,399
Other adjustments
23
23
Balance at March 31, 2026
$
1,049
$
22,143
$
4,928,636
$
5,403,176
$
(2,875,230)
$
(1,168,688)
$
6,311,086
[1]
Dividends declared per common share during the quarter
 
ended March 31, 2026 - $
0.75
 
(2025 - $
0.70
).
[2]
Includes common
 
stock repurchases
 
of $
122.3
 
million as
 
part of
 
the 2024
 
common stock
 
repurchase program.
 
Refer to
 
Note 15
 
for additional
information.
[3]
Includes common
 
stock repurchases
 
of $
155.2
 
million as
 
part of
 
the 2025
 
common stock
 
repurchase program.
 
Refer to
 
Note 15
 
for additional
information.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10
POPULAR, INC.
CONSOLIDATED STATEMENTS
 
OF CHANGES IN STOCKHOLDERS’ EQUITY
(UNAUDITED)
For the period ended
March 31,
March 31,
Disclosure of changes in number of shares:
2026
2025
Preferred Stock:
Balance at beginning and end of period
885,726
885,726
Common Stock – Issued:
Balance at beginning of period
104,921,229
104,849,460
Issuances of common stock
15,281
19,729
Balance at end of period
104,936,510
104,869,189
Treasury stock
(40,281,722)
(35,885,041)
Common Stock – Outstanding
64,654,788
68,984,148
The accompanying notes are an integral part of these Consolidated
 
Financial Statements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11
POPULAR, INC.
CONSOLIDATED STATEMENTS
 
OF CASH FLOWS
(UNAUDITED)
Quarters ended March 31,
(In thousands)
2026
2025
Cash flows from operating activities:
Net income
$
245,674
$
177,502
Adjustments to reconcile net income to net cash provided
 
by operating activities:
Provision for credit losses
75,886
64,081
Amortization of intangibles
384
597
Depreciation and amortization of premises and equipment
13,538
12,280
Net accretion of discounts and amortization of premiums and
 
deferred fees
 
(57,477)
(68,861)
Interest capitalized on loans subject to the temporary payment
 
moratorium or loss mitigation alternatives
(1,238)
(1,357)
Share-based compensation
16,228
11,028
Fair value adjustments on mortgage servicing rights
2,640
3,570
Adjustments to indemnity reserves on loans sold
(35)
(173)
Earnings from investments under the equity method, net
 
of dividends or distributions
(12,968)
(8,621)
Deferred income tax (benefit) expense
 
(564)
8,109
Loss (gain) on:
Disposition of premises and equipment and other productive
 
assets
59
(42)
Sale of loans, including valuation adjustments on loans
 
held-for-sale and mortgage banking activities
(317)
(194)
Sale of foreclosed assets, including write-downs
(2,309)
(1,033)
Acquisitions of loans held-for-sale
(3,583)
(810)
Proceeds from sale of loans held-for-sale
11,057
7,098
Net originations on loans held-for-sale
(10,194)
(6,741)
Net decrease (increase) in:
Trading debt securities
17,573
6,071
Equity securities
(849)
508
Accrued income receivable
 
(7,770)
725
Other assets
(2,087)
12,864
Net (decrease) increase in:
Interest payable
(7,280)
(7,370)
Pension and other postretirement benefits obligation
1,306
1,079
Other liabilities
(86,060)
(38,252)
Total adjustments
(54,060)
(5,444)
Net cash provided by operating activities
191,614
172,058
Cash flows from investing activities:
 
Net (increase) decrease in money market investments
(29,624)
186,609
Purchases of investment securities:
Available-for-sale
(10,385,670)
(9,425,086)
Equity
(10,139)
(9,224)
Proceeds from calls, paydowns, maturities and redemptions
 
of investment securities:
Available-for-sale
8,954,537
8,429,813
Held-to-maturity
409,096
152,441
Proceeds from sale of investment securities:
 
 
Equity
23,670
13,361
Net repayments (disbursements)
 
on loans
107,425
(118,418)
Proceeds from sale of loans
14,706
39,055
Acquisition of loan portfolios
(160,670)
(127,291)
Payments to acquire equity method investments
(1,000)
-
Acquisition of premises and equipment and other productive
 
assets
(36,680)
(51,526)
Proceeds from sale of:
Premises and equipment and other productive assets
277
197
Foreclosed assets
17,602
23,155
Net cash used in investing activities
(1,096,470)
(886,914)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12
Cash flows from financing activities:
 
Net increase (decrease) in:
Deposits
1,425,562
939,913
Assets sold under agreements to repurchase
 
(4,424)
2,435
Other short-term borrowings
(300,000)
(25,000)
Payments of notes payable
(25,000)
(63,522)
Principal payments of finance leases
(2,030)
(908)
Proceeds from issuances of common stock
1,823
1,770
Dividends paid
(49,949)
(49,899)
Net payments for repurchase of common stock
(154,742)
(125,341)
Payments related to tax withholding for share-based compensation
(4,648)
(3,376)
Net cash provided by financing activities
886,592
676,072
Net decrease in cash and due from banks, and restricted
 
cash
(18,264)
(38,784)
Cash and due from banks, and restricted cash at beginning
 
of period
412,989
429,406
Cash and due from banks, and restricted cash at the end of
 
the period
$
394,725
$
390,622
The accompanying notes are an integral part of these Consolidated
 
Financial Statements.
13
Notes to Consolidated Financial
 
Statements
 
(Unaudited)
Note 1 -
Nature of operations
14
Note 2 -
Basis of presentation
15
Note 3 -
New accounting pronouncements
16
Note 4 -
Restrictions on cash and due from banks and
certain securities
20
Note 5 -
Debt securities available-for-sale
21
Note 6 -
Debt securities held-to-maturity
24
Note 7 -
Loans
27
Note 8
Allowance for credit losses – loans held-in-
portfolio
35
Note 9 -
Other real estate owned
65
Note 10 -
Other assets
66
Note 11 -
Goodwill and other intangible assets
 
68
Note 12 -
Deposits
69
Note 13 -
Borrowings
70
Note 14 -
Other liabilities
72
Note 15 -
Stockholders’ equity
73
Note 16 -
Other comprehensive income (loss)
 
74
Note 17 -
Guarantees
76
Note 18 -
Commitments and contingencies
77
Note 19-
Non-consolidated variable interest entities
80
Note 20 -
Related party transactions
82
Note 21 -
Fair value measurement
83
Note 22 -
Fair value of financial instruments
89
Note 23 -
Net income per common share
92
Note 24 -
Revenue from contracts with customers
93
Note 25 -
Stock-based compensation
94
Note 26 -
Income taxes
97
Note 27 -
Supplemental disclosure on the consolidated
statements of cash flows
100
Note 28 -
Segment reporting
101
14
Note 1 – Nature of Operations
Popular,
 
Inc. (the
 
“Corporation” or
 
“Popular”) is
 
a diversified,
 
publicly owned
 
financial holding
 
company subject
 
to the
 
supervision
and
 
regulation
 
of
 
the
 
Board
 
of
 
Governors
 
of
 
the
 
Federal
 
Reserve
 
System.
 
The
 
Corporation
 
has
 
operations
 
in
 
Puerto
 
Rico,
 
the
mainland United
 
States (“U.S.”)
 
and the
 
U.S. and
 
British Virgin
 
Islands. In
 
Puerto Rico,
 
the Corporation
 
provides retail,
 
mortgage,
and
 
commercial banking
 
services,
 
as well
 
as
 
auto and
 
equipment leasing
 
and financing
 
through its
 
principal banking
 
subsidiary,
Banco Popular
 
de Puerto
 
Rico (“BPPR”),
 
as well
 
as broker-dealer
 
and insurance
 
services through
 
specialized subsidiaries.
 
In the
U.S.
 
mainland,
 
the
 
Corporation
 
provides
 
retail
 
and
 
commercial
 
banking
 
services,
 
as
 
well
 
as
 
equipment
 
leasing
 
and
 
financing,
through
 
its
 
New
 
York-chartered
 
banking subsidiary,
 
Popular
 
Bank
 
(“PB”
 
or
 
“Popular
 
U.S.”),
 
which
 
has
 
branches
 
located
 
in
 
New
York, New Jersey, and Florida.
 
15
Note 2 – Basis of Presentation
 
Basis of Presentation
The (unaudited) interim Consolidated Financial Statements are, in the opinion of management, a fair statement of the results
 
for the
periods reported.
 
The consolidated statement
 
of financial condition
 
presented as
 
of December 31,
 
2025 was
 
derived from
 
audited
Consolidated Financial Statements of the Corporation
 
for the year ended December 31, 2025.
Certain
 
information
 
and
 
notes
 
to
 
the
 
financial
 
statements
 
disclosures
 
which
 
would
 
normally
 
be
 
included
 
in
 
financial
 
statements
prepared in
 
accordance with
 
Accounting Principles
 
Generally Accepted
 
in the
 
United States
 
of America
 
(U.S. GAAP),
 
have been
condensed or omitted from the unaudited financial statements pursuant
 
to the rules and regulations of the
 
Securities and Exchange
Commission.
 
Accordingly,
 
these
 
financial
 
statements
 
should
 
be
 
read
 
in
 
conjunction
 
with
 
the
 
audited
 
Consolidated
 
Financial
Statements of
 
the Corporation
 
for the
 
year ended
 
December 31,
 
2025,
 
included in
 
the 2025
 
Form 10-K.
 
Operating results
 
for the
interim periods disclosed herein are not necessarily
 
indicative of the results that may be expected
 
for a full year or any future period.
 
Use of Estimates in the Preparation of Financial Statements
The preparation of financial
 
statements in conformity with
 
accounting principles generally accepted in
 
the United States
 
of America
requires management to make
 
estimates and assumptions that
 
affect the reported
 
amounts of assets and
 
liabilities and contingent
assets
 
and
 
liabilities
 
at
 
the
 
date
 
of
 
the
 
financial
 
statements,
 
and
 
the
 
reported
 
amounts
 
of
 
revenues
 
and
 
expenses
 
during
 
the
reporting period. Actual results could differ from those estimates.
16
Note 3 - New accounting pronouncements
 
 
 
 
 
 
 
 
 
Recently Adopted Accounting Standards Updates
Standard
Description
Date of adoption
Effect on the financial statements
 
FASB ASU 2025-05,
Financial Instruments -
Credit Losses (Topic 326)
- Measurement of Credit
Losses for Accounts
Receivables and Contract
Assets
The
 
Financial Accounting
 
Standards Board
("FASB")
 
issued
 
Accounting
 
Standards
Update
 
("ASU")
 
2025-05
 
in
 
July
 
2025,
which
 
permits
 
entities
 
to
 
elect
 
a
 
practical
expedient
 
when
 
accounting
 
for
 
current
accounts
 
receivable
 
and
 
current
 
contract
assets
 
arising from
 
transactions accounted
for under Accounting Standards Codification
("ASC") Topic
 
606, Revenue from Contracts
with
 
Customers.
 
This
 
practical
 
expedient
establishes
 
that,
 
in
 
developing
 
reasonable
and
 
supportable
 
forecasts
 
as
 
part
 
of
estimating
 
expected
 
credit
 
losses,
 
entities
assume
 
that
 
current
 
conditions
 
as
 
of
 
the
balance
 
sheet
 
date
 
do
 
not
 
change
 
for
 
the
remaining life of the asset.
January 1, 2026
The
 
Corporation
 
was
 
not
 
impacted
 
by
the
 
adoption
 
of
 
this
 
ASU
 
since
 
the
update
 
does
 
not
 
require
 
accounting
changes
 
or
 
new
 
presentation
 
or
disclosure
 
requirements.
 
The
 
practical
expedient was not applied.
FASB ASU 2024-04, Debt
- Debt with Conversion
and Other Options
(Subtopic 470- 20) -
Induced Conversions of
Convertible Debt
Instruments
The
 
FASB
 
issued
 
ASU
 
2024-04
 
in
November
 
2024,
 
which
 
clarifies
 
the
requirements
 
for
 
determining
 
whether
certain
 
settlements
 
of
 
convertible
 
debt
instruments should
 
be accounted
 
for as
 
an
induced
 
conversion.
 
Also
 
it
 
makes
additional
 
clarifications
 
to
 
assist
stakeholders in
 
applying the
 
guidance. The
ASU
 
clarifies
 
that
 
the
 
incorporation,
elimination,
 
or
 
modification
 
of
 
a
 
volume-
weighted
 
average
 
price
 
("VWAP")
 
formula
does
 
not
 
automatically
 
cause
 
a
 
settlement
to
 
be
 
accounted
 
for
 
as
 
an
 
extinguishment
and
 
that
 
the
 
induced
 
conversion
 
guidance
applies to a convertible debt
 
instrument that
is not currently convertible
 
as long as
 
it had
a substantive
 
conversion feature as
 
of both
its
 
issuance
 
date
 
and
 
the
 
date
 
the
inducement offer is accepted.
January 1, 2026
The
 
Corporation
 
was
 
not
 
impacted
 
by
the
 
adoption
 
of
 
this
 
ASU,
 
but
 
it
 
will
prospectively consider this guidance for
any
 
future
 
transactions
 
involving
induced conversions.
17
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounting Standards Updates Not Yet Adopted
Standard
Description
Date of adoption
Effect on the financial statements
 
FASB ASU 2026-01,
Equity (Topic 505) - Initial
Measurement of Paid-in-
Kind Dividends
 
on Equity-Classified
Preferred Stock
The
 
FASB
 
issued
 
ASU
 
2026
‑
01
 
in
 
April
2026,
 
which
 
establishes
 
authoritative
guidance
 
on
 
the
 
initial
 
measurement
 
of
paid
‑
in
‑
kind
 
(PIK)
 
dividends
 
on
equity
‑
classified
 
preferred
 
stock.
 
The
update
 
establishes
 
a
 
consistent
measurement requirement for PIK dividends
but does
 
not address
 
when such
 
dividends
should
 
be
 
recognized.
 
It
 
requires
 
PIK
dividends to
 
be initially
 
measured using
 
the
stated
 
PIK
 
dividend
 
rate
 
in
 
the
 
preferred
stock
 
agreement,
 
generally
 
applied
 
to
 
the
liquidation preference of the preferred stock.
January 1, 2027
The Corporation
 
is currently
 
evaluating
any
 
impact
 
that
 
the
 
adoption
 
of
 
this
guidance
 
will
 
have
 
on
 
its
 
financial
statements
 
and
 
presentation
 
and
disclosures.
 
This
 
ASU
 
is
 
not
 
expected
to have a material impact.
FASB ASU 2025-10,
Government Grants (Topic
832) - Accounting for
Government Grants
Received by Business
Entities
The
 
FASB
 
issued
 
ASU
 
2025-10
 
in
December
 
2025,
 
which
 
establishes
 
the
accounting
 
for
 
government
 
grants
 
received
by
 
a
 
business
 
entity.
 
The
 
update
establishes
 
recognition,
 
measurement,
 
and
disclosure
 
requirements
 
for
 
government
grants.
 
It
 
allows
 
asset
 
related
 
grants to
 
be
recognized either
 
as deferred
 
income or
 
as
an adjustment
 
to the
 
cost basis
 
of an
 
asset
and
 
income-related
 
grants
 
as
 
deferred
income.
January 1, 2029
The Corporation
 
is currently
 
evaluating
any
 
impact
 
that
 
the
 
adoption
 
of
 
this
guidance
 
will
 
have
 
on
 
its
 
financial
statements
 
and
 
presentation
 
and
disclosures.
FASB ASU 2025-09,
Derivatives and Hedging
(Topic 815) - Hedge
Accounting Improvements
The
 
FASB
 
issued
 
ASU
 
2025-09
 
in
November 2025, which aims to improve and
broaden
 
hedge
 
accounting
 
under
 
ASC
Topic
 
815
 
by
 
allowing
 
entities
 
to
 
group
forecasted
 
transaction
 
with
 
similar
 
risk
exposures,
 
provides
 
a
 
model
 
for
 
hedging
choose-your
 
rate
 
debt,
 
expands
 
hedge
accounting
 
for
 
forecasted
 
purchases
 
and
sales of non
 
financial assets, eliminates net
written
 
option
 
limitations
 
for
 
certain
compound
 
derivatives,
 
and
 
resolves
recognition
 
mismatches
 
in
 
dual
 
hedging
strategies
 
involving
foreign
‑
currency
‑
denominated debt.
January 1, 2027
The Corporation
 
is currently
 
evaluating
any
 
impact
 
that
 
the
 
adoption
 
of
 
this
guidance
 
will
 
have
 
on
 
its
 
financial
statements
 
and
 
presentation
 
and
disclosures.
FASB ASU 2025-08,
Financial Instruments -
Credit Losses (Topic 326)
- Purchased Loans
The
 
FASB
 
issued
 
ASU
 
2025-08
 
in
November 2025, which aims
 
to simplify and
reduce the
 
complexity of
 
the accounting
 
for
purchased loans under ASC Topic
 
326. The
update
 
expands
 
the
 
population
 
of
 
loans
subject to
 
the gross-up
 
approach to
 
include
purchased
 
seasoned
 
loans,
 
regardless
whether they had credit deterioration.
January 1, 2027
The Corporation
 
is currently
 
evaluating
any
 
impact
 
that
 
the
 
adoption
 
of
 
this
guidance
 
will
 
have
 
on
 
its
 
financial
statements
 
and
 
presentation
 
and
disclosures.
18
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounting Standards Updates Not Yet Adopted
Standard
Description
Date of adoption
Effect on the financial statements
 
FASB ASU 2025-07,
Derivatives and Hedging
(Topic 815) and Revenue
from Contracts with
Customers (Topic 606) -
Derivatives Scope
Refinements and Scope
Clarification for Share-
Based Noncash
Consideration from a
Customer in a Revenue
Contract
The
 
FASB
 
issued
 
ASU
 
2025-07
 
in
September 2025, which refines the scope of
derivative accounting under
 
ASC Topic
 
815
and
 
clarifies
 
the
 
treatment
 
of
 
share-based
noncash
 
consideration
 
under
 
ASC
 
Topic
606.
 
The
 
update
 
reduces
 
complexity
 
and
diversity
 
in
 
application.
 
Narrows
 
the
 
scope
of derivative
 
accounting under
 
ASC 815
 
for
certain
 
contracts
 
whose
 
underlyings
 
are
based
 
on
 
a
 
party’s
 
own
 
operations
 
or
activities;
 
and
 
clarifies
 
that
 
ASC
 
606
governs
 
share
‑
based
 
noncash
consideration
 
received
 
from
 
a
 
customer
until
 
the
 
entity’s
 
right
 
becomes
unconditional.
 
January 1, 2027
The Corporation
 
is currently
 
evaluating
any
 
impact
 
that
 
the
 
adoption
 
of
 
this
guidance
 
will
 
have
 
on
 
its
 
financial
statements
 
and
 
presentation
 
and
disclosures.
FASB ASU 2025-06,
Intangibles - Goodwill and
Other - Internal-Use
Software (Subtopic 350-
40) - Targeted
Improvements to the
Accounting for Internal-
Use Software
The
 
FASB
 
issued
 
ASU
 
2025-06
 
in
September 2025, which seeks to modernize
the
 
accounting
 
for
 
internal-use
 
software
under
 
ASC
 
Subtopic
 
350-40,
 
Intangibles—
Goodwill and Other—Internal-Use Software.
The
 
update
 
replaces
 
the
 
traditional
 
stage-
based
 
model
 
(preliminary,
 
development,
post-implementation)
 
with
 
a
 
principles-
based framework that better
 
reflects current
software
 
development
 
practices,
 
including
agile and cloud-based approaches.
January 1, 2028
The Corporation
 
is currently
 
evaluating
the
 
impact
 
that
 
the
 
adoption
 
of
 
this
guidance
 
will
 
have
 
on
 
our
 
accounting
for
 
internal
 
use
 
software
 
considering
our
 
development
 
practices
 
which
 
may
include
 
agile
 
and
 
cloud-based
approaches.
FASB ASU 2025-04,
Compensation - Stock
Compensation (Topic 718)
and Revenue from
Contracts with Customers
(Topic 606) - Clarifications
to Share-Based
Consideration Payable to
a Customer
The
 
FASB
 
issued
 
ASU
 
2025-04
 
in
 
May
2025,
 
which
 
clarifies
 
the
 
accounting
 
for
share-based
 
awards
 
granted
 
as
consideration
 
payable
 
to
 
a
 
customer.
 
The
ASU expands
 
the definition
 
of performance
condition
 
for
 
share-based
 
consideration
under ASC 718 and eliminates the forfeiture
policy election for
 
service conditions. It
 
also
confirms
 
that
 
the
 
variable
 
consideration
constraint
 
in
 
ASC
 
606
 
does
 
not
 
apply
 
to
such awards.
January 1, 2027
The Corporation
 
does not
 
expect to
 
be
impacted
 
by
 
the
 
adoption
 
of
 
this
 
ASU
since
 
it
 
does
 
not
 
grant
 
share-based
payment awards to customers.
FASB ASU 2025-03,
Business Combinations
(Topic 805) and
Consolidation (Topic 810)
- Determining the
Accounting Acquirer in the
Acquisition of a Variable
Interest Entity
The
 
FASB
 
issued
 
ASU
 
2025-03
 
in
 
May
2025 which
 
requires that
 
an entity
 
consider
the
 
factors
 
in
 
paragraphs
 
805-10-55-12
through
 
55-15
 
when
 
it
 
is
 
involved
 
in
 
an
acquisition transaction
 
effected primarily
 
by
exchanging
 
equity
 
interests when
 
the
 
legal
acquiree is
 
a variable
 
interest entity
 
("VIE")
that
 
meets
 
the
 
definition
 
of
 
a
 
business
 
to
determine
 
which
 
entity
 
is
 
the
 
accounting
acquirer.
 
This
 
replaces
 
the
 
previous
requirement
 
that
 
the
 
primary
 
beneficiary
always is the acquirer.
January 1, 2027
The Corporation
 
is currently
 
evaluating
any
 
impact
 
that
 
the
 
adoption
 
of
 
this
guidance
 
will
 
have
 
on
 
its
 
financial
statements
 
and
 
presentation
 
and
disclosures.
19
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounting Standards Updates Not Yet Adopted
Standard
Description
Date of adoption
Effect on the financial statements
 
FASB ASU 2024-03,
Income Statement -
Reporting Comprehensive
Income - Expense
Disaggregation
Disclosures (Subtopic
220-40) - Disaggregation
of Income Statement
Expenses (As updated by
ASU 2025-01)
The
 
FASB
 
issued
 
ASU
 
2024-03
 
in
November
 
2024,
 
which
 
requires
 
public
entities
 
to
 
disclose
 
additional
 
information
about
 
specific
 
expense
 
categories
 
in
 
the
notes to
 
financial statements
 
at interim
 
and
annual
 
reporting
 
periods
 
to
 
improve
financial transparency.
For fiscal years
beginning on
January 1, 2027
For interim periods
within fiscal years
beginning after
January 1, 2028
The Corporation
 
is currently
 
evaluating
the
 
impact
 
that
 
the
 
adoption
 
of
 
this
guidance
 
will
 
have
 
on
 
its
 
financial
statements
 
and
 
presentation
 
and
disclosures.
20
Note 4 - Restrictions on cash and due
 
from banks and certain securities
BPPR is
 
required by
 
regulatory agencies
 
to maintain
 
average reserve
 
balances with
 
the Federal
 
Reserve Bank
 
of New
 
York
 
(the
“Fed”) or other banks. Required average reserve balances
 
in BPPR amounted to $
2.8
 
billion at March 31, 2026 (December 31, 2025
-
 
$
2.7
 
billion).
 
Cash
 
and
 
due
 
from
 
banks,
 
as
 
well
 
as
 
other
 
highly
 
liquid
 
securities,
 
are
 
used
 
to
 
cover
 
these
 
required
 
average
reserves.
 
At March 31,
 
2026, the Corporation
 
held $
65
 
million in restricted
 
assets in the
 
form of funds
 
deposited in money
 
market accounts,
debt
 
securities
 
available
 
for
 
sale
 
and
 
equity
 
securities
 
(December
 
31,
 
2025
 
-
 
$
64
 
million).
 
The
 
restricted
 
assets
 
held
 
in
 
debt
securities available for sale and equity securities consist primarily of assets
 
held for the Corporation’s non-qualified retirement plans
and fund deposits guaranteeing possible liens or encumbrances
 
over the title of insured properties.
 
21
Note 5 – Debt securities available-for-sale
The
 
following
 
tables
 
present
 
the
 
amortized
 
cost,
 
gross
 
unrealized
 
gains
 
and
 
losses,
 
fair
 
value,
 
weighted
 
average
 
yield
 
and
contractual maturities of debt securities available-for-sale
 
at March 31, 2026 and December 31,
 
2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At March 31, 2026
Gross
Gross
Weighted
Amortized
unrealized
unrealized
Fair
 
average
(In thousands)
cost
gains
 
losses
value
yield
U.S. Treasury securities
Within 1 year
$
10,459,758
$
1,286
$
1,727
$
10,459,317
3.52
%
After 1 to 5 years
6,603,717
10,645
35,638
6,578,724
3.69
Total U.S. Treasury
 
securities
17,063,475
11,931
37,365
17,038,041
3.59
Collateralized mortgage obligations - federal agencies
Within 1 year
93
-
-
93
1.71
After 1 to 5 years
3,866
-
69
3,797
1.48
After 5 to 10 years
10,575
-
481
10,094
2.46
After 10 years
87,224
125
6,211
81,138
2.93
Total collateralized
 
mortgage obligations - federal agencies
101,758
125
6,761
95,122
2.82
Mortgage-backed securities - federal agencies
Within 1 year
869
-
7
862
2.04
After 1 to 5 years
87,724
15
2,689
85,050
2.22
After 5 to 10 years
1,093,830
162
83,023
1,010,969
1.75
After 10 years
4,289,433
708
787,666
3,502,475
1.77
Total mortgage-backed
 
securities - federal agencies
5,471,856
885
873,385
4,599,356
1.77
Other
Within 1 year
750
-
-
750
4.39
Total other
 
750
-
-
750
4.39
Total debt securities
 
available-for-sale
[1]
$
22,637,839
$
12,941
$
917,511
$
21,733,269
3.15
%
[1]
 
Includes $
15.1
 
billion pledged to secure government and trust
 
deposits, credit facilities and loan servicing agreements that
 
the secured parties
are not permitted to sell or repledge the collateral, of which
 
$
13.9
 
billion serve as collateral for public funds.
 
The Corporation had unpledged
Available for Sale securities with a fair value of
 
$
6.6
 
billion that could be used to increase its borrowing
 
facilities.
 
22
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2025
Gross
 
Gross
 
Weighted
 
Amortized
 
unrealized
unrealized
Fair
 
average
 
(In thousands)
cost
gains
 
losses
value
yield
U.S. Treasury securities
 
Within 1 year
$
10,154,698
$
4,716
$
1,528
$
10,157,886
3.44
%
After 1 to 5 years
5,555,079
29,795
19,306
5,565,568
3.70
Total U.S. Treasury
 
securities
15,709,777
34,511
20,834
15,723,454
3.53
Collateralized mortgage obligations - federal agencies
Within 1 year
152
-
1
151
1.97
After 1 to 5 years
4,879
-
88
4,791
1.49
After 5 to 10 years
11,524
-
482
11,042
2.45
After 10 years
90,018
180
5,941
84,257
2.92
Total collateralized
 
mortgage obligations - federal agencies
106,573
180
6,512
100,241
2.80
Mortgage-backed securities - federal agencies
Within 1 year
963
1
9
955
2.08
After 1 to 5 years
65,843
11
1,530
64,324
2.35
After 5 to 10 years
1,030,661
256
67,116
963,801
1.85
After 10 years
4,527,032
881
806,466
3,721,447
1.75
Total mortgage-backed
 
securities - federal agencies
5,624,499
1,149
875,121
4,750,527
1.78
Other
Within 1 year
750
-
-
750
4.43
Total other
 
750
-
-
750
4.43
Total debt securities
 
available-for-sale
[1]
$
21,441,599
$
35,840
$
902,467
$
20,574,972
3.07
%
[1]
Includes $
14.3
 
billion pledged to secure government and trust deposits,
 
assets sold under agreements to repurchase, credit facilities
 
and loan
servicing agreements that the secured parties are not permitted
 
to sell or repledge the collateral, of which $
13.2
 
billion serve as collateral for public
funds. The Corporation had unpledged Available for Sale
 
securities with a fair value of $
6.3
 
billion that could be used to increase its borrowing
facilities.
The weighted
 
average yield
 
on debt
 
securities available-for-sale
 
is based
 
on amortized
 
cost; therefore,
 
it
 
does not
 
give
 
effect to
changes in fair value.
Debt
 
securities
 
not
 
due
 
on
 
a
 
single
 
contractual
 
maturity
 
date,
 
such
 
as
 
mortgage-backed
 
securities
 
and
 
collateralized
 
mortgage
obligations, are classified
 
in the period
 
of final contractual
 
maturity. The
 
expected maturities of
 
collateralized mortgage obligations,
mortgage-backed securities and certain other securities may
 
differ from their contractual maturities
 
because they may be subject to
prepayments or may be called by the issuer.
At March 31, 2026, the Corporation did not intend
 
to sell or believed it was more
 
likely than not that it would be
 
required to sell debt
securities classified as available-for-sale. There were
 
no debt securities sold during the quarters ended
 
March 31, 2026 and 2025.
 
 
 
23
The
 
following
 
tables
 
present
 
the
 
Corporation’s
 
fair
 
value
 
and
 
gross
 
unrealized
 
losses
 
of
 
debt
 
securities
 
available-for-sale,
aggregated by investment category and length of
 
time that individual securities have been in a continuous
 
unrealized loss position at
March 31, 2026 and December 31, 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At March 31, 2026
Less than 12 months
12 months or more
Total
Gross
Gross
Gross
Fair
 
 
unrealized
Fair
 
 
unrealized
Fair
 
 
unrealized
(In thousands)
value
 
losses
value
 
losses
value
 
losses
U.S. Treasury securities
$
11,616,601
$
17,111
$
442,317
$
20,254
$
12,058,918
$
37,365
Collateralized mortgage obligations - federal agencies
 
4,568
45
75,409
6,716
79,977
6,761
Mortgage-backed securities -federal agencies
212,099
9,678
4,335,138
863,707
4,547,237
873,385
Total debt securities
 
available-for-sale in an unrealized loss position
 
$
11,833,268
$
26,834
$
4,852,864
$
890,677
$
16,686,132
$
917,511
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2025
Less than 12 months
12 months or more
Total
Gross
Gross
Gross
Fair
 
 
unrealized
Fair
 
 
unrealized
Fair
 
 
unrealized
(In thousands)
value
 
losses
value
 
losses
value
 
losses
U.S. Treasury securities
$
992,083
$
82
$
943,699
$
20,752
$
1,935,782
$
20,834
Collateralized mortgage obligations - federal agencies
 
1,481
3
83,266
6,509
84,747
6,512
Mortgage-backed securities - federal agencies
222,333
9,975
4,469,097
865,146
4,691,430
875,121
Total debt securities
 
available-for-sale in an unrealized loss position
 
$
1,215,897
$
10,060
$
5,496,062
$
892,407
$
6,711,959
$
902,467
Debt securities available-for-sale
 
in a continuous
 
unrealized loss position
 
for
 
less than twelve
 
months of $
11.8
 
billion as of
 
March
31, 2026, compared to $
1.2
 
billion on December 31, 2025, primarily driven by an increase market rates, which resulted in a
 
decline
in the fair value of fixed-rate securities including U.S.
 
Treasury securities and mortgage-backed securities.
 
As of March 31, 2026, the portfolio of available-for-sale debt securities reflects gross unrealized losses of $
0.9
 
billion (December 31,
2025
 
-
 
$
0.9
 
billion),
 
driven
 
mainly
 
by
 
mortgage-backed
 
securities,
 
impacted
 
by
 
the
 
higher-interest
 
rate
 
environment
 
and
 
the
portfolio’s longer
 
duration. The
 
portfolio of
 
available-for-sale debt securities
 
is comprised mainly
 
of U.S
 
Treasuries and
 
obligations
from
 
the
 
U.S.
 
Government,
 
its
 
agencies
 
or
 
government
 
sponsored
 
entities,
 
including
 
Federal
 
National
 
Mortgage
 
Association
(“FNMA”), Federal Home Loan Mortgage Corporation (“FHLMC”) and Government National Mortgage Association (“GNMA”). These
securities carry
 
an explicit
 
or implicit
 
guarantee from the
 
U.S. Government,
 
are highly
 
rated by
 
major rating
 
agencies, and
 
have a
long history of no credit losses. Accordingly, the Corporation applies a zero-credit
 
loss assumption.
 
 
24
Note 6 –Debt securities held-to-maturity
The following
 
tables present
 
the amortized
 
cost, allowance
 
for credit
 
losses, gross
 
unrealized gains
 
and losses,
 
approximate fair
value, weighted
 
average yield
 
and contractual
 
maturities of
 
debt securities
 
held-to-maturity at
 
March 31,
 
2026 and
 
December 31,
2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At March 31, 2026
Allowance
Carrying
Value
 
Gross
 
Gross
 
Weighted
Amortized
 
Book
[1]
for Credit
Net of
 
unrealized
unrealized
Fair
 
average
(In thousands)
cost
Value
Losses
Allowance
gains
 
losses
value
yield
U.S. Treasury securities
 
Within 1 year
$
2,755,510
$
2,717,438
$
-
$
2,717,438
$
1,757
$
139
$
2,719,056
1.15
%
After 1 to 5 years
4,403,161
4,195,564
-
4,195,564
4,137
-
4,199,701
1.30
Total U.S. Treasury
 
securities
7,158,671
6,913,002
-
6,913,002
5,894
139
6,918,757
1.24
Obligations of Puerto Rico, States and
political subdivisions
Within 1 year
2,720
2,720
13
2,707
11
-
2,718
6.45
After 1 to 5 years
3,910
3,910
27
3,883
12
8
3,887
1.84
After 5 to 10 years
450
450
14
436
7
-
443
5.81
After 10 years
35,126
35,126
5,846
29,280
2,672
1,795
30,157
1.43
Total obligations of
 
Puerto Rico, States and
political subdivisions
42,206
42,206
5,900
36,306
2,702
1,803
37,205
1.83
Collateralized mortgage obligations - federal
agencies
After 10 years
1,491
1,491
-
1,491
-
190
1,301
2.87
Total collateralized
 
mortgage obligations -
federal agencies
1,491
1,491
-
1,491
-
190
1,301
2.87
Securities in wholly owned statutory business
trusts
After 5 to 10 years
5,960
5,960
-
5,960
-
-
5,960
6.33
Total securities
 
in wholly owned statutory
business trusts
5,960
5,960
-
5,960
-
-
5,960
6.33
Total debt securities
 
held-to-maturity [2]
$
7,208,328
$
6,962,659
$
5,900
$
6,956,759
$
8,596
$
2,132
$
6,963,223
1.25
%
[1]
Book value includes $
245
 
million of unrealized loss which remains in Accumulated
 
other comprehensive (loss) income (AOCI) related
 
to certain
securities previously transferred from available-for-sale securities
 
portfolio to the held-to-maturity securities portfolio.
[2]
Includes $
6.9
 
billion pledged to secure public and trust deposits that
 
the secured parties are not permitted to sell or repledge
 
the collateral.
 
The
Corporation had unpledged held-to-maturities securities with
 
a fair value of $
94.9
 
million that could be used to increase its borrowing facilities.
 
25
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2025
Allowance
 
Carrying
Value
 
Gross
 
Gross
 
Weighted
 
Amortized
 
Book
[1]
for Credit
Net of
unrealized
unrealized
Fair
 
average
 
(In thousands)
cost
Value
Losses
Allowance
gains
 
losses
value
yield
U.S. Treasury securities
 
Within 1 year
$
2,558,293
 
$
 
2,519,071
 
$
 
-
 
$
 
2,519,071
 
$
 
5,224
 
$
 
110
 
$
 
2,524,185
1.31
%
After 1 to 5 years
5,003,219
4,749,896
-
4,749,896
35,910
-
4,785,806
1.27
Total U.S. Treasury
 
securities
7,561,512
7,268,967
-
7,268,967
41,134
110
7,309,991
1.28
Obligations of Puerto Rico, States and
political subdivisions
`
Within 1 year
2,605
2,605
5
2,600
4
-
2,604
6.43
After 1 to 5 years
12,508
12,508
39
12,469
24
87
12,406
3.49
After 5 to 10 years
450
450
15
435
15
-
450
5.81
After 10 years
35,544
35,544
5,753
29,791
2,908
1,829
30,870
1.43
Total obligations of
 
Puerto Rico, States and
political subdivisions
51,107
51,107
5,812
45,295
2,951
1,916
46,330
2.22
Collateralized mortgage obligations - federal
agencies
After 10 years
1,495
1,495
-
1,495
-
189
1,306
2.87
Total collateralized
 
mortgage obligations -
federal agencies
1,495
1,495
-
1,495
-
189
1,306
2.87
Securities in wholly owned statutory business
trusts
After 5 to 10 years
5,960
5,960
-
5,960
-
-
5,960
6.33
Total securities
 
in wholly owned statutory
business trusts
5,960
5,960
-
5,960
-
-
5,960
6.33
Total debt securities
 
held-to-maturity [2]
$
7,620,074
 
$
 
7,327,529
 
$
 
5,812
 
$
 
7,321,717
 
$
 
44,085
 
$
 
2,215
 
$
 
7,363,587
1.29
%
[1]
Book value includes $
293
 
million of unrealized loss which remains in Accumulated
 
other comprehensive (loss) income (AOCI) related
 
to certain securities
previously transferred from available-for-sale securities portfolio
 
to the held-to-maturity securities portfolio.
[2]
Includes $
7.3
 
billion pledged to secure public and trust deposits that
 
the secured parties are not permitted to sell or repledge
 
the collateral. The
Corporation had unpledged held-to-maturities securities with
 
a fair value of $
98.8
 
million that could be used to increase its borrowing facilities.
Debt securities not due on a single contractual maturity date,
 
such as collateralized mortgage obligations, are classified in the period
of final
 
contractual maturity.
 
The expected
 
maturities of
 
collateralized mortgage
 
obligations and
 
certain other
 
securities may
 
differ
from their contractual maturities because they may be
 
subject to prepayments or may be called
 
by the issuer.
Credit Quality Indicators
The following
 
describes the
 
credit quality
 
indicators by
 
major security
 
type that
 
the Corporation
 
takes into
 
account to
 
develop the
estimate of the allowance for credit losses for investment
 
securities held-to-maturity.
As discussed in
 
Note 2 of
 
the 2025 Form
 
10-K, U.S. Treasury
 
securities carry an explicit
 
guarantee from the U.S.
 
Government are
highly rated by major rating
 
agencies and have a long
 
history of no credit losses. Accordingly,
 
the Corporation applies a zero-credit
loss assumption and no allowance for credit losses
 
(“ACL”) for these securities has been established.
At March 31, 2026
 
and December 31, 2025, the
 
“Obligations of Puerto Rico, States and
 
political subdivisions” classified as held-to-
maturity,
 
included
 
securities
 
issued
 
by
 
municipalities
 
of
 
Puerto
 
Rico
 
that
 
are
 
generally
 
not
 
rated
 
by
 
a
 
credit
 
rating
 
agency.
 
The
Corporation performs periodic credit quality
 
reviews of these securities and internally
 
assigns standardized credit risk ratings based
on
 
its
 
evaluation. For
 
the
 
definitions
 
of
 
the
 
obligor
 
risk
 
ratings, refer
 
to
 
the
 
Credit
 
Quality section
 
of
 
Note
 
8
 
to
 
the
 
Consolidated
Financial
 
Statements.
 
This
 
includes
 
an
 
amortized
 
cost
 
of
 
$
7.1
 
million
 
of
 
general
 
and
 
special
 
obligation
 
bonds
 
issued
 
by
 
three
municipalities
 
of
 
Puerto
 
Rico,
 
of
 
which
 
$
6.3
 
million
 
have
 
a
 
“Pass”
 
rating,
 
that
 
are
 
payable
 
primarily
 
from
 
certain
 
property
 
taxes
imposed by the issuing municipality (compared to $
8.7
 
million and $
7.9
 
million, respectively, at December 31, 2025).
At
 
March
 
31,
 
2026,
 
the
 
portfolio
 
of
 
“Obligations
 
of
 
Puerto
 
Rico,
 
States
 
and
 
political
 
subdivisions”
 
also
 
included
 
$
35.1
 
million
 
in
securities
 
issued
 
by
 
the
 
Puerto
 
Rico
 
Housing
 
Finance
 
Authority
 
(“HFA”),
 
a
 
government
 
instrumentality,
 
for
 
which
 
the
 
underlying
source of payment is second mortgage loans in Puerto Rico
 
residential properties (not the government), but for which HFA, provides
a guarantee
 
in the
 
event of default
 
and upon the
 
satisfaction of certain
 
other conditions (December
 
31, 2025 -
 
$
36
 
million). These
26
securities
 
are
 
not
 
rated
 
by
 
a
 
credit
 
rating
 
agency.
 
Refer
 
to
 
Note
 
18
to
 
the
 
Consolidated
 
Financial
 
Statements
for
 
additional
information on the Corporation’s exposure to the Puerto
 
Rico Government.
A
deterioration of
 
the Puerto
 
Rico economy
 
or
 
of
 
the fiscal
 
health of
 
the
 
Government of
 
Puerto Rico
 
and/or
 
its
 
instrumentalities
(including if
 
any of
 
the issuing
 
municipalities become
 
subject to
 
a debt
 
restructuring proceeding
 
under the
 
Puerto Rico
 
Oversight
Management and Economic Stability Act (“PROMESA”) could
 
adversely affect the value of these securities, resulting in losses
 
to the
Corporation.
 
At March
 
31, 2026,
 
the portfolio
 
of “Obligations
 
of Puerto
 
Rico, States
 
and political
 
subdivisions” had
no
 
securities issued
 
by the
HFA
 
for which
 
the underlying
 
source of
 
payment is
 
U.S. Treasury
 
securities (December
 
31, 2025
 
- $
6.8
 
million). These
 
securities
were fully redeemed during this quarter. The Corporation applies a zero-credit loss assumption for these securities, and no ACL has
been established for these securities
 
given that U.S. Treasury
 
securities carry an explicit guarantee from
 
the U.S. Government, are
highly rated by major rating agencies, and have
 
a long history of no credit losses.
 
Delinquency status
At March 31, 2026 and December 31, 2025, there were
no
 
securities held-to-maturity in past due or non-performing
 
status.
Allowance for credit losses on debt securities held-to-maturity
The
 
allowance
 
for
 
credit
 
losses
 
related
 
to
 
the
 
Obligations
 
of
 
Puerto
 
Rico
 
and
 
the
 
States
 
and
 
Political
 
subdivisions
 
securities
 
at
March 31, 2026 was $
5.9
 
million (December 31, 2025 - $
5.8
 
million).
 
 
 
 
27
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 2025
 
Form 10-K.
The following table
 
presents the Corporation's
 
loan purchases (including
 
repurchases) for the
 
quarters ended March
 
31, 2026
 
and
2025 by class of loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarters ended March 31,
 
(In thousands)
2026
2025
Commercial
$
55,006
$
7,160
Mortgage
109,208
120,907
Ending balance
$
164,214
$
128,067
The following table presents the Corporation’s whole-loan
 
sales for the quarters ended March 31, 2026 and
 
2025 by class of loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarters ended March 31,
 
(In thousands)
2026
2025
Commercial
$
14,191
$
26,349
Construction
-
9,338
Mortgage
11,035
6,937
Ending balance
$
25,226
$
42,624
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, 2026 and December 31, 2025.
 
 
28
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
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
$
2,717
$
7,927
$
-
$
10,644
$
332,447
$
343,091
$
-
$
-
Commercial real estate:
Non-owner occupied
3,123
-
26,457
29,580
3,362,611
3,392,191
26,457
-
Owner occupied
2,114
664
14,192
16,970
1,131,241
1,148,211
14,192
-
Commercial and industrial
5,792
2,240
190,205
198,237
5,742,028
5,940,265
185,993
4,212
Construction
13,635
-
-
13,635
399,144
412,779
-
-
Mortgage
218,044
102,818
325,321
646,183
6,789,562
7,435,745
129,367
195,954
Leasing
21,261
3,938
8,892
34,091
1,952,074
1,986,165
8,892
-
Consumer:
Credit cards
12,351
8,721
25,395
46,467
1,167,725
1,214,192
-
25,395
Home equity lines of credit
-
120
-
120
1,778
1,898
-
-
Personal
18,601
11,212
15,976
45,789
1,805,275
1,851,064
15,755
221
Auto
81,112
13,038
35,390
129,540
3,654,364
3,783,904
35,390
-
Other
574
135
4,663
5,372
162,036
167,408
4,227
436
Total
$
379,324
$
150,813
$
646,491
$
1,176,628
$
26,500,285
$
27,676,913
$
420,273
$
226,218
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
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
$
5,733
$
-
$
10,962
$
16,695
$
2,067,509
$
2,084,204
$
10,962
$
-
Commercial real estate:
Non-owner occupied
10,282
1,930
6,987
19,199
2,132,061
2,151,260
6,987
-
Owner occupied
21,202
1,610
-
22,812
2,041,333
2,064,145
-
-
Commercial and industrial
11,660
4,404
6,693
22,757
2,602,537
2,625,294
6,524
169
Construction
6,903
-
-
6,903
1,254,511
1,261,414
-
-
Mortgage
25,877
1,552
9,700
37,129
1,239,487
1,276,616
9,700
-
Consumer:
Credit cards
-
-
-
-
7
7
-
-
Home equity lines of
credit
660
252
2,766
3,678
74,188
77,866
2,766
-
Personal
1,062
523
905
2,490
59,727
62,217
905
-
Other
2
-
-
2
9,764
9,766
-
-
Total
$
83,381
$
10,271
$
38,013
$
131,665
$
11,481,124
$
11,612,789
$
37,844
$
169
 
 
29
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
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
$
8,450
$
7,927
$
10,962
$
27,339
$
2,399,956
$
2,427,295
$
10,962
$
-
Commercial real estate:
Non-owner occupied
13,405
1,930
33,444
48,779
5,494,672
5,543,451
33,444
-
Owner occupied
23,316
2,274
14,192
39,782
3,172,574
3,212,356
14,192
-
Commercial and industrial
17,452
6,644
196,898
220,994
8,344,565
8,565,559
192,517
4,381
Construction
20,538
-
-
20,538
1,653,655
1,674,193
-
-
Mortgage
[1]
243,921
104,370
335,021
683,312
8,029,049
8,712,361
139,067
195,954
Leasing
21,261
3,938
8,892
34,091
1,952,074
1,986,165
8,892
-
Consumer:
Credit cards
12,351
8,721
25,395
46,467
1,167,732
1,214,199
-
25,395
Home equity lines of credit
660
372
2,766
3,798
75,966
79,764
2,766
-
Personal
19,663
11,735
16,881
48,279
1,865,002
1,913,281
16,660
221
Auto
81,112
13,038
35,390
129,540
3,654,364
3,783,904
35,390
-
Other
576
135
4,663
5,374
171,800
177,174
4,227
436
Total
$
462,705
$
161,084
$
684,504
$
1,308,293
$
37,981,409
$
39,289,702
$
458,117
$
226,387
[1]
At March 31, 2026, mortgage loans held-in-portfolio include
 
$
3.3
 
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 $
196
 
million are 90 days or more past due. The portfolio of
guaranteed loans includes $
43
 
million of residential mortgage loans in Puerto Rico that
 
are no longer accruing interest as of March 31, 2026.
 
The
Corporation has $
26
 
million in reverse mortgage loans in Puerto Rico which
 
are guaranteed by FHA, but which are currently not
 
accruing interest
at March 31, 2026.
[2]
Loans held-in-portfolio are net of $
414
 
million in unearned income and exclude $
6
 
million in loans held-for-sale.
[3]
Includes $
22.9
 
billion pledged to secure credit facilities and public funds
 
that the secured parties are not permitted to sell or repledge
 
the collateral,
of which $
7.4
 
billion were pledged at the Federal Home Loan Bank
 
("FHLB") as collateral for borrowings and $
15.5
 
billion at the Federal Reserve
Bank ("FRB") for discount window borrowings. As of
 
March 31, 2026, the Corporation had an available borrowing
 
facility with the FHLB and the
discount window of FRB of $
4.2
 
billion and $
12.2
 
billion, respectively.
 
 
30
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 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
$
6,579
$
155
$
112
$
6,846
$
296,502
$
303,348
$
112
$
-
Commercial real estate:
Non-owner occupied
2,457
299
35,692
38,448
3,356,682
3,395,130
35,692
-
Owner occupied
2,760
681
24,567
28,008
1,168,585
1,196,593
24,567
-
Commercial and industrial
8,864
3,760
187,222
199,846
5,770,227
5,970,073
183,914
3,308
Construction
17,283
-
-
17,283
340,258
357,541
-
-
Mortgage
261,145
133,124
329,613
723,882
6,624,085
7,347,967
132,373
197,240
Leasing
23,748
4,640
9,179
37,567
1,963,798
2,001,365
9,179
-
Consumer:
Credit cards
13,700
10,617
27,529
51,846
1,204,885
1,256,731
-
27,529
Home equity lines of credit
-
-
-
-
1,908
1,908
-
-
Personal
19,608
11,894
19,082
50,584
1,785,818
1,836,402
18,863
219
Auto
109,103
25,495
52,200
186,798
3,633,014
3,819,812
52,200
-
Other
927
2,688
2,285
5,900
165,858
171,758
1,809
476
Total
$
466,174
$
193,353
$
687,481
$
1,347,008
$
26,311,620
$
27,658,628
$
458,709
$
228,772
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 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
$
9,500
$
-
$
8,636
$
18,136
$
2,134,306
$
2,152,442
$
8,636
$
-
Commercial real estate:
Non-owner occupied
-
1,600
7,020
8,620
2,139,534
2,148,154
7,020
-
Owner occupied
-
-
-
-
1,956,487
1,956,487
-
-
Commercial and industrial
7,608
928
6,686
15,222
2,622,117
2,637,339
6,498
188
Construction
-
-
-
-
1,317,358
1,317,358
-
-
Mortgage
15,596
6,400
13,422
35,418
1,266,055
1,301,473
13,422
-
Consumer:
Credit cards
-
-
-
-
(14)
(14)
-
-
Home equity lines of credit
1,282
82
2,796
4,160
72,624
76,784
2,796
-
Personal
 
983
832
1,233
3,048
66,778
69,826
1,233
-
Other
-
-
29
29
9,012
9,041
29
-
Total
$
34,969
$
9,842
$
39,822
$
84,633
$
11,584,257
$
11,668,890
$
39,634
$
188
 
 
31
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 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
$
16,079
$
155
$
8,748
$
24,982
$
2,430,808
$
2,455,790
$
8,748
$
-
Commercial real estate:
Non-owner occupied
2,457
1,899
42,712
47,068
5,496,216
5,543,284
42,712
-
Owner occupied
2,760
681
24,567
28,008
3,125,072
3,153,080
24,567
-
Commercial and industrial
16,472
4,688
193,908
215,068
8,392,344
8,607,412
190,412
3,496
Construction
17,283
-
-
17,283
1,657,616
1,674,899
-
-
Mortgage
[1]
276,741
139,524
343,035
759,300
7,890,140
8,649,440
145,795
197,240
Leasing
23,748
4,640
9,179
37,567
1,963,798
2,001,365
9,179
-
Consumer:
Credit cards
13,700
10,617
27,529
51,846
1,204,871
1,256,717
-
27,529
Home equity lines of credit
1,282
82
2,796
4,160
74,532
78,692
2,796
-
Personal
20,591
12,726
20,315
53,632
1,852,596
1,906,228
20,096
219
Auto
109,103
25,495
52,200
186,798
3,633,014
3,819,812
52,200
-
Other
927
2,688
2,314
5,929
174,870
180,799
1,838
476
Total
$
501,143
$
203,195
$
727,303
$
1,431,641
$
37,895,877
$
39,327,518
$
498,343
$
228,960
[1]
At December 31, 2025 mortgage loans held-in-portfolio include
 
$
3.2
 
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 $
197
 
million are 90 days or more past due. The portfolio
 
of
guaranteed loans includes $
47
 
million of residential mortgage loans in Puerto Rico that
 
are no longer accruing interest as of December 31,
 
2025.
The Corporation has $
27
 
million in reverse mortgage loans in Puerto Rico which
 
are guaranteed by FHA, but which are currently not accruing
interest at December 31, 2025.
[2]
Loans held-in-portfolio are net of $
422
 
million in unearned income and exclude $
10
 
million in loans held-for-sale.
[3]
Includes $
22.7
 
billion pledged to secure credit facilities and public funds
 
that the secured parties are not permitted to sell or repledge
 
the collateral,
of which $
7.5
 
billion were pledged at the FHLB as collateral for borrowings
 
and $
15.2
 
billion at the FRB for discount window borrowings.
 
As of
December 31, 2025, the Corporation had an available borrowing
 
facility with the FHLB and the discount window
 
of FRB of $
4
.0 billion and $
12.1
billion, respectively.
The following tables present the amortized cost basis
 
of non-accrual loans as of March 31, 2026
 
and December 31, 2025 by class of
loans:
 
 
32
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
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
$
-
$
-
$
10,632
$
330
$
10,632
$
330
Commercial real estate non-owner occupied
22,240
4,217
6,957
30
29,197
4,247
Commercial real estate owner occupied
6,617
7,575
-
-
6,617
7,575
Commercial and industrial
6,203
179,790
5,975
549
12,178
180,339
Mortgage
59,937
69,430
760
8,940
60,697
78,370
Leasing
542
8,350
-
-
542
8,350
Consumer:
 
HELOCs
-
-
-
2,766
-
2,766
 
Personal
 
3,484
12,271
-
905
3,484
13,176
 
Auto
 
2,313
33,077
-
-
2,313
33,077
 
Other
363
3,864
-
-
363
3,864
Total
$
101,699
$
318,574
$
24,324
$
13,520
$
126,023
$
332,094
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 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
$
-
$
112
$
8,137
$
499
$
8,137
$
611
Commercial real estate non-owner occupied
31,408
4,284
6,979
41
38,387
4,325
Commercial real estate owner occupied
16,576
7,991
-
-
16,576
7,991
Commercial and industrial
6,245
177,669
5,985
513
12,230
178,182
Mortgage
59,302
73,071
732
12,690
60,034
85,761
Leasing
771
8,408
-
-
771
8,408
Consumer:
 
HELOCs
-
-
-
2,796
-
2,796
 
Personal
 
3,314
15,549
-
1,233
3,314
16,782
 
Auto
 
2,252
49,948
-
-
2,252
49,948
 
Other
378
1,431
-
29
378
1,460
Total
$
120,246
$
338,463
$
21,833
$
17,801
$
142,079
$
356,264
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,
 
2026 include $
126
 
million in collateral dependent loans
 
(December 31,
2025 - $
142
 
million). The Corporation recognized $
7
 
million in interest income on non-accrual loans during the quarter ended March
31, 2026 (March 31, 2025 - $
3
 
million).
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, 2026 and December 31, 2025:
 
33
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
(In thousands)
Real Estate
Auto
Equipment
Other
Total
BPPR
Commercial multi-family
$
1,189
$
-
$
-
$
-
$
1,189
Commercial real estate:
Non-owner occupied
97,743
-
-
-
97,743
Owner occupied
12,891
-
-
-
12,891
Commercial and industrial
2,355
-
4,433
2,578
9,366
Mortgage
50,344
-
-
-
50,344
Leasing
-
1,652
-
-
1,652
Consumer:
Personal
3,316
-
-
-
3,316
Auto
-
16,905
-
-
16,905
Other
-
14
-
363
377
Total BPPR
$
167,838
$
18,571
$
4,433
$
2,941
$
193,783
Popular U.S.
Commercial multi-family
$
16,379
$
-
$
-
$
-
$
16,379
Commercial real estate:
Non-owner occupied
65,608
-
-
-
65,608
Commercial and industrial
4,177
-
-
1,798
5,975
Mortgage
1,082
-
-
-
1,082
Total Popular U.S.
$
87,246
$
-
$
-
$
1,798
$
89,044
Popular, Inc.
Commercial multi-family
$
17,568
$
-
$
-
$
-
$
17,568
Commercial real estate:
Non-owner occupied
163,351
-
-
-
163,351
Owner occupied
12,891
-
-
-
12,891
Commercial and industrial
6,532
-
4,433
4,376
15,341
Mortgage
51,426
-
-
-
51,426
Leasing
-
1,652
-
-
1,652
Consumer:
Personal
3,316
-
-
-
3,316
Auto
-
16,905
-
-
16,905
Other
-
14
-
363
377
Total Popular,
 
Inc.
$
255,084
$
18,571
$
4,433
$
4,739
$
282,827
 
34
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
(In thousands)
Real Estate
Auto
Equipment
Other
Total
BPPR
Commercial multi-family
$
1,206
$
-
$
-
$
-
$
1,206
Commercial real estate:
Non-owner occupied
127,031
-
-
-
127,031
Owner occupied
23,014
-
-
-
23,014
Commercial and industrial
2,378
-
4,476
297
7,151
Mortgage
67,380
-
-
-
67,380
Leasing
-
1,925
-
-
1,925
Consumer:
Personal
3,402
-
-
-
3,402
Auto
-
16,512
-
-
16,512
Other
-
31
-
363
394
Total BPPR
$
224,411
$
18,468
$
4,476
$
660
$
248,015
Popular U.S.
Commercial multi-family
$
16,395
$
-
$
-
$
-
$
16,395
Commercial real estate:
Non-owner occupied
65,630
-
-
-
65,630
Commercial and industrial
4,187
-
-
1,798
5,985
Mortgage
1,398
-
-
-
1,398
Total Popular U.S.
$
87,610
$
-
$
-
$
1,798
$
89,408
Popular, Inc.
Commercial multi-family
$
17,601
$
-
$
-
$
-
$
17,601
Commercial real estate:
Non-owner occupied
192,661
-
-
-
192,661
Owner occupied
23,014
-
-
-
23,014
Commercial and industrial
6,565
-
4,476
2,095
13,136
Mortgage
68,778
-
-
-
68,778
Leasing
-
1,925
-
-
1,925
Consumer:
Personal
3,402
-
-
-
3,402
Auto
-
16,512
-
-
16,512
Other
-
31
-
363
394
Total Popular,
 
Inc.
$
312,021
$
18,468
$
4,476
$
2,458
$
337,423
35
Note 8 – Allowance for credit losses – loans
 
held-in-portfolio
The
Corporation follows
 
the current
 
expected credit
 
loss
 
(“CECL”) model
 
to
 
establish and
 
evaluate the
 
adequacy of
 
the ACL
 
to
provide for
 
expected losses
 
in the
 
loan portfolio.
 
This model
 
establishes a forward-looking
 
methodology that
 
reflects the
 
expected
credit losses over the lives
 
of financial assets starting when such
 
assets are first acquired or originated.
 
In addition, CECL provides
that
 
the
 
initial ACL
 
on PCD
 
financial
 
assets be
 
recorded as
 
an
 
increase to
 
the
 
purchase price,
 
with subsequent
 
changes to
 
the
allowance
 
recorded
 
as
 
a
 
credit
 
loss
 
expense.
 
The
 
provision
 
for
 
credit
 
losses
 
recorded
 
in
 
current
 
operations
 
is
 
based
 
on
 
this
methodology.
 
Loan losses
 
are charged
 
and
 
recoveries are
 
credited to
 
the ACL.
 
The
 
Corporation’s modeling
 
framework includes
internally
 
developed
 
quantitative
 
models
 
that
 
generate
 
lifetime
 
default
 
and
 
prepayment
 
estimates
 
as
 
well
 
as
 
other
 
loan
 
level
techniques to estimate
 
loss severity.
 
These models combine credit
 
risk factors which
 
include the impact
 
of loan modifications,
 
with
macroeconomic expectations to derive the lifetime
 
expected loss.
 
At March
 
31, 2026, the
 
Corporation estimated
 
the ACL by
 
weighting the outputs
 
of optimistic, baseline,
 
and pessimistic scenarios.
The
 
weightings applied
 
are subject
 
to
 
evaluation on
 
a
 
quarterly basis
 
as
 
part
 
of
 
the ACL’s
 
governance process.
 
During the
 
first
quarter
 
of
 
2026,
 
among
 
the
 
three
 
scenarios
 
evaluated
 
to
 
estimate
 
the
 
ACL,
 
the
 
baseline
 
scenario
 
was
 
assigned
 
the
 
highest
probability, followed by the pessimistic scenario,
 
where weight was increased during 2025 in response
 
to ongoing uncertainties.
At March 31,2026, the ACL increased by $
15.6
 
million from December 31, 2025 to $
823.7
 
million.
The following
 
tables present
 
the changes
 
in the
 
ACL of
 
loans held-in-portfolio
 
and unfunded
 
commitments for
 
the quarters
 
ended
March 31, 2026 and 2025.
 
36
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarter ended March 31, 2026
BPPR
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
 
Commercial multi-family
$
3,871
$
831
$
-
$
-
$
2
$
4,704
 
Commercial real estate non-owner occupied
44,149
15,847
-
(11,131)
16
48,881
 
Commercial real estate owner occupied
34,722
326
-
(91)
446
35,403
 
Commercial and industrial
163,877
16,834
-
(2,618)
1,887
179,980
 
Total Commercial
246,619
33,838
-
(13,840)
2,351
268,968
Construction
4,488
1,268
-
-
11
5,767
Mortgage
70,674
764
7
(483)
2,799
73,761
Leasing
18,620
2,537
-
(4,085)
1,516
18,588
Consumer
 
Credit cards
91,124
14,305
-
(19,235)
3,182
89,376
 
Home equity lines of credit
58
(82)
-
-
91
67
 
Personal
97,804
17,602
-
(20,744)
2,795
97,457
 
Auto
180,364
3,006
-
(21,150)
8,324
170,544
 
Other
8,169
60
-
(747)
225
7,707
 
Total Consumer
377,519
34,891
-
(61,876)
14,617
365,151
Total - Loans
$
717,920
$
73,298
$
7
$
(80,284)
$
21,294
$
732,235
Allowance for credit losses - unfunded commitments:
Commercial
$
5,993
$
(603)
$
-
$
-
$
-
$
5,390
Construction
2,570
721
-
-
-
3,291
Ending balance - unfunded commitments [1]
$
8,563
$
118
$
-
$
-
$
-
$
8,681
[1] Allowance for credit losses of unfunded commitments
 
is presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
 
37
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarter ended March 31, 2026
Popular U.S.
Provision for
 
Beginning
credit losses
Ending
(In thousands)
Balance
(benefit)
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
15,474
$
(109)
$
-
$
-
$
15,365
Commercial real estate non-owner occupied
14,568
697
-
-
15,265
Commercial real estate owner occupied
13,729
1,869
-
115
15,713
Commercial and industrial
17,057
424
(29)
44
17,496
Total Commercial
60,828
2,881
(29)
159
63,839
Construction
9,338
55
-
-
9,393
Mortgage
9,880
(45)
(19)
47
9,863
Consumer
Home equity lines of credit
1,277
(400)
-
234
1,111
Personal
8,808
(104)
(1,818)
396
7,282
Other
5
4
(13)
10
6
Total Consumer
10,090
(500)
(1,831)
640
8,399
Total - Loans
$
90,136
$
2,391
$
(1,879)
$
846
$
91,494
Allowance for credit losses - unfunded commitments:
Commercial
$
1,570
$
232
$
-
$
-
$
1,802
Construction
4,161
(222)
-
-
3,939
Consumer
144
(19)
-
-
125
Ending balance - unfunded commitments [1]
$
5,875
$
(9)
$
-
$
-
$
5,866
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
 
38
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarter ended March 31, 2026
Popular Inc.
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
19,345
$
722
$
-
$
-
$
2
$
20,069
Commercial real estate non-owner occupied
58,717
16,544
-
(11,131)
16
64,146
Commercial real estate owner occupied
48,451
2,195
-
(91)
561
51,116
Commercial and industrial
180,934
17,258
-
(2,647)
1,931
197,476
Total Commercial
307,447
36,719
-
(13,869)
2,510
332,807
Construction
13,826
1,323
-
-
11
15,160
Mortgage
80,554
719
7
(502)
2,846
83,624
Leasing
18,620
2,537
-
(4,085)
1,516
18,588
Consumer
Credit cards
91,124
14,305
-
(19,235)
3,182
89,376
Home equity lines of credit
1,335
(482)
-
-
325
1,178
Personal
106,612
17,498
-
(22,562)
3,191
104,739
Auto
180,364
3,006
-
(21,150)
8,324
170,544
Other
8,174
64
-
(760)
235
7,713
Total Consumer
387,609
34,391
-
(63,707)
15,257
373,550
Total - Loans
$
808,056
$
75,689
$
7
$
(82,163)
$
22,140
$
823,729
Allowance for credit losses - unfunded commitments:
Commercial
$
7,563
$
(371)
$
-
$
-
$
-
$
7,192
Construction
6,731
499
-
-
-
7,230
Consumer
144
(19)
-
-
-
125
Ending balance - unfunded commitments [1]
$
14,438
$
109
$
-
$
-
$
-
$
14,547
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
 
39
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarter ended March 31, 2025
BPPR
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
2,783
$
635
$
-
$
-
$
2
$
3,420
Commercial real estate non-owner occupied
44,852
(2,599)
-
(65)
660
42,848
Commercial real estate owner occupied
37,355
(1,742)
-
(89)
495
36,019
Commercial and industrial
130,136
(257)
-
(3,312)
4,840
131,407
Total Commercial
215,126
(3,963)
-
(3,466)
5,997
213,694
Construction
2,743
(24)
-
-
-
2,719
Mortgage
72,901
(1,118)
9
(435)
2,932
74,289
Leasing
16,419
7,059
-
(4,544)
1,272
20,206
Consumer
Credit cards
99,130
13,822
-
(18,865)
2,436
96,523
Home equity lines of credit
54
(108)
-
(25)
139
60
Personal
91,296
16,828
-
(21,953)
3,615
89,786
Auto
165,995
19,471
-
(21,056)
7,569
171,979
Other
7,002
723
-
(880)
162
7,007
Total Consumer
363,477
50,736
-
(62,779)
13,921
365,355
Total - Loans
$
670,666
$
52,690
$
9
$
(71,224)
$
24,122
$
676,263
Allowance for credit losses - unfunded commitments:
Commercial
$
6,725
$
720
$
-
$
-
$
-
$
7,445
Construction
1,663
(103)
-
-
-
1,560
Ending balance - unfunded commitments [1]
$
8,388
$
617
$
-
$
-
$
-
$
9,005
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
 
40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarter ended March 31, 2025
Popular U.S.
Provision for
Beginning
credit losses
Ending
(In thousands)
Balance
(benefit)
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
6,453
$
3,627
$
-
$
1
$
10,081
Commercial real estate non-owner occupied
9,642
5,811
-
-
15,453
Commercial real estate owner occupied
12,473
1,209
(12)
523
14,193
Commercial and industrial
15,870
1,477
(1,147)
222
16,422
Total Commercial
44,438
12,124
(1,159)
746
56,149
Construction
8,521
(1,728)
-
-
6,793
Mortgage
9,508
47
-
185
9,740
Consumer
Home equity lines of credit
1,449
(136)
(30)
267
1,550
Personal
11,440
2,200
(2,626)
637
11,651
Other
2
21
(29)
8
2
Total Consumer
12,891
2,085
(2,685)
912
13,203
Total - Loans
$
75,358
$
12,528
$
(3,844)
$
1,843
$
85,885
Allowance for credit losses - unfunded commitments:
Commercial
$
1,662
$
(32)
$
-
$
-
$
1,630
Construction
5,409
(1,917)
-
-
3,492
Consumer
11
31
-
-
42
Ending balance - unfunded commitments [1]
$
7,082
$
(1,918)
$
-
$
-
$
5,164
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
 
41
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarter ended March 31, 2025
Popular Inc.
Provision for
Allowance for
Beginning
credit losses
credit losses -
Ending
(In thousands)
Balance
(benefit)
PCD Loans
Charge-offs
Recoveries
Balance
Allowance for credit losses - loans:
Commercial
Commercial multi-family
$
9,236
$
4,262
$
-
$
-
$
3
$
13,501
Commercial real estate non-owner occupied
54,494
3,212
-
(65)
660
58,301
Commercial real estate owner occupied
49,828
(533)
-
(101)
1,018
50,212
Commercial and industrial
146,006
1,220
-
(4,459)
5,062
147,829
Total Commercial
259,564
8,161
-
(4,625)
6,743
269,843
Construction
11,264
(1,752)
-
-
-
9,512
Mortgage
82,409
(1,071)
9
(435)
3,117
84,029
Leasing
16,419
7,059
-
(4,544)
1,272
20,206
Consumer
Credit cards
99,130
13,822
-
(18,865)
2,436
96,523
Home equity lines of credit
1,503
(244)
-
(55)
406
1,610
Personal
102,736
19,028
-
(24,579)
4,252
101,437
Auto
165,995
19,471
-
(21,056)
7,569
171,979
Other
7,004
744
-
(909)
170
7,009
Total Consumer
376,368
52,821
-
(65,464)
14,833
378,558
Total - Loans
$
746,024
$
65,218
$
9
$
(75,068)
$
25,965
$
762,148
Allowance for credit losses - unfunded commitments:
Commercial
$
8,387
$
688
$
-
$
-
$
-
$
9,075
Construction
7,072
(2,020)
-
-
-
5,052
Consumer
11
31
-
-
-
42
Ending balance - unfunded commitments [1]
$
15,470
$
(1,301)
$
-
$
-
$
-
$
14,169
[1]
Allowance for credit losses of unfunded commitments is
 
presented as part of Other Liabilities in the Consolidated
 
Statements of Financial Condition.
42
 
Modifications
A
 
modification
 
constitutes
 
a
 
change
 
in
 
loan
 
terms
 
in
 
the
 
form
 
of
 
principal
 
forgiveness,
 
an
 
interest
 
rate
 
reduction,
 
other
 
than-
insignificant payment delay, term extension or combination of the above made
 
to a borrower experiencing financial difficulty.
The amount of outstanding commitments to lend additional funds to debtors with financial difficulties owing receivables whose terms
have been modified during the quarter ended March 31, 2026 amounted to $
69
 
million (during the year ended December 31, 2025 -
$
159
 
million), related to the commercial loan portfolios.
The following tables show the amortized cost basis of the loans modified to borrowers experiencing financial difficulties at the end of
the reporting period disaggregated by class of financing receivable
 
and type of concession granted for the quarters ended March
 
31,
2026 and 2025.
 
Loans modified to
 
borrowers experiencing financial
 
difficulties that
 
were fully paid
 
down, charged-off or
 
foreclosed
upon by period end are not reported.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loan Modifications Made to Borrowers Experiencing Financial
 
Difficulty for the quarter ended March 31,
 
2026
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at March
31, 2026
% of total class
of Financing
Receivable
Amortized Cost
Basis at March
31, 2026
% of total class of
Financing
Receivable
Amortized Cost
Basis at March
31, 2026
% of total class of
Financing
Receivable
Commercial and industrial
$
743
0.01
%
$
-
-
%
$
743
0.01
%
Mortgage
74
-
%
-
-
%
74
-
%
Consumer:
 
Credit cards
79
0.01
%
-
-
%
79
0.01
%
 
Personal
517
0.03
%
-
-
%
517
0.03
%
Total
$
1,413
0.01
%
$
-
-
%
$
1,413
-
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at March
31, 2026
% of total class
of Financing
Receivable
Amortized Cost
Basis at March
31, 2026
% of total class of
Financing
Receivable
Amortized Cost
Basis at March
31, 2026
% of total class of
Financing
Receivable
CRE non-owner occupied
$
1,856
0.05
%
$
-
-
%
$
1,856
0.03
%
CRE owner occupied
1,321
0.12
%
-
-
%
1,321
0.04
%
Commercial and industrial
56,240
0.95
%
-
-
%
56,240
0.66
%
Mortgage
6,309
0.08
%
-
-
%
6,309
0.07
%
Consumer:
-
 
Personal
104
0.01
%
11
0.02
%
115
0.01
%
 
Auto
51
-
%
-
-
%
51
-
%
Total
$
65,881
0.24
%
$
11
-
%
$
65,892
0.17
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at March
31, 2026
% of total class
of Financing
Receivable
Amortized Cost
Basis at March
31, 2026
% of total class of
Financing
Receivable
Amortized Cost
Basis at March
31, 2026
% of total class of
Financing
Receivable
CRE owner occupied
$
17,425
1.52
%
$
-
-
%
$
17,425
0.54
%
Commercial and industrial
155,817
2.62
%
-
-
%
155,817
1.82
%
Total
$
173,242
0.63
%
$
-
-
%
$
173,242
0.44
%
 
43
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Combination - Term Extension
 
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at March
31, 2026
% of total class
of Financing
Receivable
Amortized Cost
Basis at March
31, 2026
% of total class of
Financing
Receivable
Amortized Cost
Basis at March
31, 2026
% of total class of
Financing
Receivable
Commercial and industrial
$
109
-
%
$
-
-
%
$
109
-
%
Mortgage
2,195
0.03
%
-
-
%
2,195
0.03
%
Consumer:
 
Personal
2,838
0.15
%
-
-
%
2,838
0.15
%
 
Auto
96
-
%
-
-
%
96
-
%
Total
$
5,238
0.02
%
$
-
-
%
$
5,238
0.01
%
Combination -
 
Other-Than-Insignificant Payment Delays and Interest Rate
 
Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at March
31, 2026
% of total class
of Financing
Receivable
Amortized Cost
Basis at March
31, 2026
% of total class of
Financing
Receivable
Amortized Cost
Basis at March
31, 2026
% of total class of
Financing
Receivable
Commercial and industrial
$
188
-
%
$
-
-
%
$
188
-
%
Consumer:
 
Credit cards
2,447
0.20
%
-
-
%
2,447
0.20
%
Total
$
2,635
0.01
%
$
-
-
%
$
2,635
0.01
%
 
44
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loan Modifications Made to Borrowers Experiencing Financial
 
Difficulty for the quarter ended March 31,
 
2025
Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at March 31,
2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at March 31,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at March 31,
2025
% of total class of
Financing
Receivable
Commercial and industrial
$
1,272
0.02
%
$
-
-
%
$
1,272
0.02
%
Consumer:
 
Credit cards
235
0.02
%
-
-
%
235
0.02
%
 
Personal
1,215
0.07
%
-
-
%
1,215
0.07
%
 
Other
5
-
%
-
-
%
5
-
%
Total
$
2,727
0.01
%
$
-
-
%
$
2,727
0.01
%
Term Extension
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at March 31,
2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at March 31,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at March 31,
2025
% of total class of
Financing
Receivable
CRE non-owner occupied
$
1,005
0.03
%
$
-
-
%
$
1,005
0.02
%
CRE owner occupied
512
0.04
%
-
-
%
512
0.02
%
Commercial and industrial
9,372
0.18
%
-
-
%
9,372
0.12
%
Mortgage
9,971
0.14
%
-
-
%
9,971
0.12
%
Consumer:
 
Personal
239
0.01
%
2
-
%
241
0.01
%
 
Auto
40
-
%
-
-
%
40
-
%
Total
$
21,139
0.08
%
$
2
-
%
$
21,141
0.06
%
Other-Than-Insignificant Payment Delays
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at March 31,
2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at March 31,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at March 31,
2025
% of total class of
Financing
Receivable
CRE non-owner occupied
$
4,454
0.13
%
$
-
-
%
$
4,454
0.08
%
CRE owner occupied
24,686
2.05
%
-
-
%
24,686
0.83
%
Commercial and industrial
96,529
1.84
%
-
-
%
96,529
1.25
%
Total
$
125,669
0.48
%
$
-
-
%
$
125,669
0.34
%
Combination - Term Extension
 
and Interest Rate Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at March 31,
2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at March 31,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at March 31,
2025
% of total class of
Financing
Receivable
Mortgage
$
3,132
0.05
%
$
-
-
%
$
3,132
0.04
%
Consumer:
 
Personal
3,209
0.18
%
43
0.05
%
3,252
0.18
%
Total
$
6,341
0.02
%
$
43
0.05
%
$
6,384
0.02
%
Combination -
 
Other-Than-Insignificant Payment Delays and Interest Rate
 
Reduction
BPPR
Popular U.S.
Popular, Inc.
(Dollars in thousands)
Amortized Cost
Basis at March 31,
2025
% of total class
of Financing
Receivable
Amortized Cost
Basis at March 31,
2025
% of total class of
Financing
Receivable
Amortized Cost
Basis at March 31,
2025
% of total class of
Financing
Receivable
Commercial and industrial
$
567
0.01
%
$
-
-
%
$
567
0.01
%
Consumer:
 
Credit cards
2,751
0.23
%
-
-
%
2,751
0.23
%
Total
$
3,318
0.01
%
$
-
-
%
$
3,318
0.01
%
45
The following tables describe the financial effect of the
 
modifications made to borrowers experiencing
 
financial difficulties:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarter ended March 31, 2026
Interest rate reduction
Loan Type
Financial Effect
Commercial and industrial
Reduced weighted-average contractual interest rate from
22.6
% to
9.9
%.
Mortgage
Reduced weighted-average contractual interest rate from
7.3
% to
5.4
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
21.2
% to
8.8
%.
Personal
Reduced weighted-average contractual interest rate from
19.9
% to
12.1
%.
Auto
Reduced weighted-average contractual interest rate from
8.9
% to
8.7
%.
Term extension
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
16
 
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
4
 
years to the life of loans.
Commercial and industrial
Added a weighted-average of
5
 
months to the life of loans.
Mortgage
Added a weighted-average of
13
 
years to the life of loans.
Consumer:
Personal
Added a weighted-average of
4
 
years to the life of loans.
Auto
Added a weighted-average of
19
 
months to the life of loans.
Other than insignificant payment delays
Loan Type
Financial Effect
CRE Owner occupied
Added a weighted-average of
10
 
months to the life of loans.
Commercial and industrial
Added a weighted-average of
10
 
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
17
 
months to the life of loans.
 
46
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarter ended March 31, 2025
Interest rate reduction
Loan Type
Financial Effect
Commercial and industrial
Reduced weighted-average contractual interest rate from
25.4
% to
9.6
%.
Mortgage
Reduced weighted-average contractual interest rate from
6.5
% to
5.6
%.
Consumer:
Credit cards
Reduced weighted-average contractual interest rate from
21.3
% to
8.2
%.
Personal
Reduced weighted-average contractual interest rate from
21.6
% to
11.7
%.
Other
Reduced weighted-average contractual interest rate from
18
.0% to
0
.0%.
Term extension
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
6
 
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
3
 
months to the life of loans.
Commercial and industrial
Added a weighted-average of
1
 
year to the life of loans.
Mortgage
Added a weighted-average of
15
 
years to the life of loans.
Consumer:
Personal
Added a weighted-average of
5
 
years to the life of loans.
Auto
Added a weighted-average of
3
 
years to the life of loans.
Other than insignificant payment delay
Loan Type
Financial Effect
CRE Non-owner occupied
Added a weighted-average of
10
 
months to the life of loans.
CRE Owner occupied
Added a weighted-average of
9
 
months to the life of loans.
Commercial and industrial
Added a weighted-average of
13
 
months to the life of loans.
Consumer:
Credit cards
Added a weighted-average of
19
 
months to the life of loans.
The following tables present, by class, the performance of loans that have been modified during the twelve months preceding March
31,
 
2026.
 
The
 
past
 
due
 
90
 
days
 
or
 
more
 
categories
 
include
 
all
 
loans
 
modified
 
classified
 
as
 
non-accruing
 
at
 
the
 
time
 
of
 
the
modification. These
 
loans will
 
continue in
 
non-accrual status,
 
and presented
 
as past
 
due 90
 
days or
 
more, until
 
the borrower
 
has
demonstrated a willingness and
 
ability to make
 
the restructured loan payments
 
(at least six
 
months of sustained
 
performance after
the modification
 
or one
 
year for
 
loans providing
 
for quarterly
 
or semi-annual
 
payments) and
 
management has
 
concluded that
 
it is
probable that the borrower would not be in payment
 
default in the foreseeable future.
 
47
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BPPR
 
March 31, 2026
Past Due 90 days or more [1]
(In thousands)
30-59 days
60-89 days
Past due 90
days or more
Total past
due
Current
Total
With Payment
Default
Without
Payment Default
CRE non-owner occupied
$
-
$
-
$
2,115
$
2,115
$
1,726
$
3,841
$
-
$
2,115
CRE owner occupied
485
-
2,741
3,226
58,227
61,453
-
2,741
Commercial and industrial
809
76
4,369
5,254
304,683
309,937
341
4,028
Mortgage
4,082
1,615
20,668
26,365
24,524
50,889
7,338
13,330
Consumer:
 
Credit cards
751
454
1,139
2,344
6,755
9,099
869
270
 
Personal
695
197
1,328
2,220
12,195
14,415
60
1,268
 
Auto
-
-
-
-
458
458
-
Total
$
6,822
$
2,342
$
32,360
$
41,524
$
408,568
$
450,092
$
8,608
$
23,752
[1] Loans that were in non-accrual status at the time
 
of modification are presented as past due until the borrower
 
has demonstrated a willingness and ability
to make the restructured loan payments. Payment default
 
is defined as a restructured loan becoming 90 days past
 
due after being modified, foreclosed or
charged-off, whichever occurs first. The recorded investment
 
as of period end is inclusive of all partial paydowns
 
and charge-offs since the modification
date. Loans modified with financial difficulty that
 
were fully paid down, charged-off or foreclosed upon
 
by period end are not reported.
Popular U.S.
 
March 31, 2026
Past Due 90 days or more [1]
(In thousands)
30-59 days
60-89 days
Past due 90
days or more
Total past
due
Current
Total
With Payment
Default
Without
Payment Default
CRE non-owner occupied
$
-
$
-
$
-
$
-
$
58,652
$
58,652
$
-
$
-
Commercial and industrial
-
-
-
-
914
914
-
-
Mortgage
-
-
-
-
1,120
1,120
-
-
Consumer:
 
Personal
-
-
33
33
75
108
33
-
Total
$
-
$
-
$
33
$
33
$
60,761
$
60,794
$
33
$
-
[1] Loans that were in non-accrual status at the time
 
of modification are presented as past due until the borrower
 
has demonstrated a willingness and ability
to make the restructured loan payments. Payment default
 
is defined as a restructured loan becoming 90 days past
 
due after being modified, foreclosed or
charged-off, whichever occurs first. The recorded investment
 
as of period end is inclusive of all partial paydowns
 
and charge-offs since the modification
date. Loans modified with financial difficulty that
 
were fully paid down, charged-off or foreclosed upon
 
by period end are not reported.
Popular Inc.
 
March 31, 2026
Past Due 90 days or more [1]
(In thousands)
30-59 days
60-89 days
Past due 90
days or more
Total past
due
Current
Total
With Payment
Default
Without
Payment Default
CRE non-owner occupied
$
-
$
-
$
2,115
$
2,115
$
60,378
$
62,493
$
-
$
2,115
CRE owner occupied
485
-
2,741
3,226
58,227
61,453
-
2,741
Commercial and industrial
809
76
4,369
5,254
305,597
310,851
341
4,028
Mortgage
4,082
1,615
20,668
26,365
25,644
52,009
7,338
13,330
Consumer:
 
Credit cards
751
454
1,139
2,344
6,755
9,099
869
270
 
Personal
695
197
1,361
2,253
12,270
14,523
93
1,268
 
Auto
-
-
-
-
458
458
-
-
Total
$
6,822
$
2,342
$
32,393
$
41,557
$
469,329
$
510,886
$
8,641
$
23,752
[1] Loans that were in non-accrual status at the time
 
of modification are presented as past due until the borrower
 
has demonstrated a willingness and ability
to make the restructured loan payments.
 
Payment default is defined as a restructured loan becoming
 
90 days past due after being modified, foreclosed
 
or
charged-off, whichever occurs first. The recorded investment
 
as of period end is inclusive of all partial paydowns
 
and charge-offs since the modification
date. Loans modified with financial difficulty that
 
were fully paid down, charged-off or foreclosed upon
 
by period end are not reported.
48
The following tables present, by class, the performance of loans that have been modified during the twelve months preceding March
31, 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BPPR
 
March 31, 2025
Past Due 90 days or more [1]
(In thousands)
30-59 days
60-89 days
Past due 90
days or more
Total past
due
Current
Total
With Payment
Default
Without
Payment Default
CRE non-owner occupied
$
-
$
-
$
451
$
451
$
8,571
$
9,022
$
-
$
451
CRE owner occupied
85
113
2,137
2,335
45,631
47,966
257
1,880
Commercial and industrial
290
177
4,856
5,323
167,950
173,273
273
4,583
Mortgage
5,072
2,767
17,345
25,184
37,456
62,640
3,256
14,089
Consumer:
 
Credit cards
699
536
845
2,080
4,690
6,770
503
342
 
Personal
391
129
1,887
2,407
12,584
14,991
136
1,751
 
Auto
-
-
-
-
119
119
-
-
 
Other
-
-
-
-
27
27
-
-
Total
$
6,537
$
3,722
$
27,521
$
37,780
$
277,028
$
314,808
$
4,425
$
23,096
[1] Loans that were in non-accrual status at the time
 
of modification are presented as past due until the borrower
 
has demonstrated a willingness and ability
to make the restructured loan payments. Payment default
 
is defined as a restructured loan becoming 90 days past
 
due after being modified, foreclosed or
charged-off, whichever occurs first. The recorded investment
 
as of period end is inclusive of all partial paydowns
 
and charge-offs since the modification
date. Loans modified with financial difficulty that
 
were fully paid down, charged-off or foreclosed upon
 
by period end are not reported.
Popular U.S.
 
March 31, 2025
Past Due 90 days or more [1]
(In thousands)
30-59 days
60-89 days
Past due 90
days or more
Total past
due
Current
Total
With Payment
Default
Without
Payment Default
Commercial multi-family
$
-
$
-
$
-
$
-
$
5,804
$
5,804
$
-
$
-
CRE owner occupied
-
-
-
-
5,953
5,953
-
-
Commercial and industrial
-
-
-
-
684
684
-
-
Mortgage
-
-
699
699
796
1,495
645
54
Consumer:
 
Personal
14
-
-
14
221
235
-
-
Total
$
14
$
-
$
699
$
713
$
13,458
$
14,171
$
645
$
54
[1] Loans that were in non-accrual status at the time
 
of modification are presented as past due until the borrower
 
has demonstrated a willingness and ability
to make the restructured loan payments. Payment default
 
is defined as a restructured loan becoming 90 days past
 
due after being modified, foreclosed or
charged-off, whichever occurs first. The recorded investment
 
as of period end is inclusive of all partial paydowns
 
and charge-offs since the modification
date. Loans modified with financial difficulty that
 
were fully paid down, charged-off or foreclosed upon
 
by period end are not reported.
Popular Inc.
 
March 31, 2025
Past Due 90 days or more [1]
(In thousands)
30-59 days
60-89 days
Past due 90
days or more
Total past
due
Current
Total
With Payment
Default
Without
Payment Default
Commercial multi-family
$
-
$
-
$
-
$
-
$
5,804
$
5,804
$
-
$
-
CRE non-owner occupied
-
-
451
451
8,571
9,022
-
451
CRE owner occupied
85
113
2,137
2,335
51,584
53,919
257
1,880
Commercial and industrial
290
177
4,856
5,323
168,634
173,957
273
4,583
Mortgage
5,072
2,767
18,044
25,883
38,252
64,135
3,901
14,143
Consumer:
 
Credit cards
699
536
845
2,080
4,690
6,770
503
342
 
Personal
405
129
1,887
2,421
12,805
15,226
136
1,751
 
Auto
-
-
-
-
119
119
-
-
 
Other
-
-
-
-
27
27
-
-
Total
$
6,551
$
3,722
$
28,220
$
38,493
$
290,486
$
328,979
$
5,070
$
23,150
[1] Loans that were in non-accrual status at the time
 
of modification are presented as past due until the borrower
 
has demonstrated a willingness and ability
to make the restructured loan payments.
 
Payment default is defined as a restructured loan becoming
 
90 days past due after being modified, foreclosed
 
or
charged-off, whichever occurs first. The recorded investment
 
as of period end is inclusive of all partial paydowns
 
and charge-offs since the modification
date. Loans modified with financial difficulty that
 
were fully paid down, charged-off or foreclosed upon
 
by period end are not reported.
 
 
49
Payment
 
default
 
is
 
defined
 
as
 
a
 
restructured
 
loan
 
becoming
 
90
 
days
 
past
 
due
 
after
 
being
 
modified,
 
foreclosed
 
or
 
charged-off,
whichever
 
occurs
 
first.
The
 
following
 
tables
 
provide
 
the
 
outstanding
 
balance
 
of
 
loans
 
modified
 
for
 
borrowers
 
under
 
financial
difficulties that were subject to payment default and that
 
had been modified during the twelve months prior
 
to default.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortized Cost Basis of Modified Financing Receivables That
 
Subsequently Defaulted During the Quarter Ended
 
March 31, 2026
(In thousands)
Interest Rate
Reduction
Term Extension
Other-Than-
Insignificant
Payment Delays
Combination - Term
Extension and Interest
Rate Reduction
Combination - Other-
Than-Insignificant
Payment Delays and
Interest Rate
Reduction
Total
Commercial and industrial
$
152
$
40
$
14
$
96
$
140
$
442
Mortgage
-
7,741
109
736
-
8,586
Consumer:
 
Credit cards
69
-
-
-
1,133
1,202
 
Personal
50
-
-
288
-
338
Total
$
271
$
7,781
$
123
$
1,120
$
1,273
$
10,568
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortized Cost Basis of Modified Financing Receivables That
 
Subsequently Defaulted During the Quarter Ended
 
March 31, 2025
(In thousands)
Interest Rate
Reduction
Term Extension
Other-Than-
Insignificant
Payment Delays
Combination - Term
Extension and Interest
Rate Reduction
Combination - Other-
Than-Insignificant
Payment Delays and
Interest Rate
Reduction
Total
CRE owner occupied
$
-
$
89
$
257
$
-
$
-
$
346
Commercial and industrial
81
64
84
-
132
361
Mortgage
-
4,820
-
415
-
5,235
Consumer:
 
Credit cards
178
-
-
-
454
632
 
Personal
85
11
-
67
-
163
Total
$
344
$
4,984
$
341
$
482
$
586
$
6,737
Credit Quality
The risk
 
rating system
 
provides for
 
the assignment
 
of ratings
 
at the
 
obligor level
 
based on
 
the financial
 
condition of
 
the borrower.
The
 
risk rating
 
analysis process
 
is
 
performed at
 
least
 
once a
 
year
 
or more
 
frequently if
 
events or
 
conditions change
 
which may
deteriorate the credit quality.
 
In the case of
 
consumer and mortgage loans, these
 
loans are classified considering their
 
delinquency
status at the end of the reporting period.
The following tables present the amortized cost basis, net of unearned income, of
 
loans held-in-portfolio based on the Corporation’s
assignment of
 
obligor risk
 
ratings as
 
defined at
 
March 31,
 
2026 and
 
December 31,
 
2025 and
 
the gross
 
charge-offs
 
recorded by
vintage year. For
 
the definitions of the obligor risk ratings,
 
refer to the Credit Quality section of
 
Note 8 to the Consolidated Financial
Statements included in the 2025 Form 10-K:
 
 
 
50
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2026
2025
2024
2023
2022
Prior
 
Years
Total
BPPR
Commercial:
Commercial multi-family
Pass
$
42,608
$
11,093
$
32,748
$
36,284
$
130,510
$
65,455
$
303
$
-
$
319,001
Watch
-
-
15,710
-
518
3,654
-
-
19,882
Special Mention
-
220
-
-
-
193
-
-
413
Substandard
-
-
-
-
-
3,795
-
-
3,795
Total commercial
multi-family
$
42,608
$
11,313
$
48,458
$
36,284
$
131,028
$
73,097
$
303
$
-
$
343,091
Commercial real estate non-owner occupied
Pass
$
82,203
$
441,363
$
401,447
$
263,210
$
782,917
$
1,136,854
$
5,267
$
-
$
3,113,261
Watch
-
22,316
11,821
42,798
4,973
97,718
598
-
180,224
Special Mention
-
1,814
-
868
141
41,114
-
-
43,937
Substandard
-
-
723
8,367
17,435
28,244
-
-
54,769
Total commercial
real estate non-
owner occupied
$
82,203
$
465,493
$
413,991
$
315,243
$
805,466
$
1,303,930
$
5,865
$
-
$
3,392,191
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
11,131
$
-
$
-
$
-
$
11,131
Commercial real estate owner occupied
Pass
$
17,596
$
153,564
$
111,506
$
48,190
$
69,723
$
422,574
$
22,830
$
-
$
845,983
Watch
-
6,194
26,562
6,166
34,427
93,078
1,049
-
167,476
Special Mention
190
-
-
1,484
2,935
17,345
1,500
-
23,454
Substandard
987
9,312
1,894
1,804
18,232
76,798
1,827
-
110,854
Doubtful
-
73
-
-
220
151
-
-
444
Total commercial
real estate owner
occupied
$
18,773
$
169,143
$
139,962
$
57,644
$
125,537
$
609,946
$
27,206
$
-
$
1,148,211
Year-to-Date gross
write-offs
$
1
$
-
$
-
$
-
$
-
$
90
$
-
$
-
$
91
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
Pass
$
68,303
$
1,310,651
$
599,285
$
642,805
$
424,285
$
518,898
$
1,366,545
$
-
$
4,930,772
Watch
7,479
34,152
93,292
18,274
32,820
17,092
204,257
-
407,366
Special Mention
1,342
20,675
25,617
9,852
1,791
4,476
22,278
-
86,031
Substandard
8,539
36,138
14,964
46,521
94,276
170,270
145,363
-
516,071
Loss
-
-
-
-
-
-
25
-
25
Total commercial
and industrial
$
85,663
$
1,401,616
$
733,158
$
717,452
$
553,172
$
710,736
$
1,738,468
$
-
$
5,940,265
Year-to-Date gross
write-offs
$
322
$
257
$
161
$
60
$
14
$
14
$
1,790
$
-
$
2,618
Construction
Pass
$
8,389
$
34,849
$
114,149
$
77,267
$
-
$
11,792
$
71,895
$
-
$
318,341
Watch
-
-
45,773
43,224
5,688
-
(247)
-
94,438
Total construction
$
8,389
$
34,849
$
159,922
$
120,491
$
5,688
$
11,792
$
71,648
$
-
$
412,779
Mortgage
Pass
$
191,448
$
1,006,090
$
855,964
$
668,642
$
382,160
$
4,262,955
$
-
$
-
$
7,367,259
Substandard
-
183
727
2,872
1,922
62,782
-
-
68,486
Total mortgage
$
191,448
$
1,006,273
$
856,691
$
671,514
$
384,082
$
4,325,737
$
-
$
-
$
7,435,745
Year-to-Date gross
write-offs
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
483
$
-
$
-
$
483
51
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2026
2025
2024
2023
2022
Prior
 
Years
Total
BPPR
Leasing
Pass
$
202,295
$
598,503
$
498,463
$
324,408
$
225,282
$
128,323
$
-
$
-
$
1,977,274
Substandard
1
653
1,825
2,632
2,242
1,538
-
-
8,891
Total leasing
$
202,296
$
599,156
$
500,288
$
327,040
$
227,524
$
129,861
$
-
$
-
$
1,986,165
Year-to-Date gross
write-offs
$
21
$
1,064
$
1,026
$
1,082
$
693
$
199
$
-
$
-
$
4,085
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,188,797
$
-
$
1,188,797
Substandard
-
-
-
-
-
-
25,392
-
25,392
Loss
-
-
-
-
-
-
3
-
3
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,214,192
$
-
$
1,214,192
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
19,235
$
-
$
19,235
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,898
$
-
$
1,898
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
-
$
1,898
$
-
$
1,898
Personal
Pass
$
238,029
$
755,971
$
361,303
$
223,153
$
111,867
$
113,321
$
-
$
31,028
$
1,834,672
Substandard
-
1,644
2,772
2,475
1,246
6,432
-
1,800
16,369
Loss
-
-
9
1
-
13
-
-
23
Total Personal
$
238,029
$
757,615
$
364,084
$
225,629
$
113,113
$
119,766
$
-
$
32,828
$
1,851,064
Year-to-Date gross
write-offs
$
-
$
2,534
$
3,780
$
4,636
$
1,937
$
7,205
$
-
$
652
$
20,744
Auto
Pass
$
286,874
$
1,082,045
$
930,739
$
647,257
$
420,503
$
372,300
$
-
$
-
$
3,739,718
Substandard
20
4,671
12,133
10,915
8,074
8,326
-
-
44,139
Loss
-
29
16
-
-
2
-
-
47
Total Auto
$
286,894
$
1,086,745
$
942,888
$
658,172
$
428,577
$
380,628
$
-
$
-
$
3,783,904
Year-to-Date gross
write-offs
$
82
$
5,175
$
7,130
$
5,400
$
2,516
$
847
$
-
$
-
$
21,150
Other consumer
Pass
$
5,899
$
32,313
$
23,730
$
15,510
$
14,353
$
7,189
$
63,737
$
-
$
162,731
Substandard
-
-
10
2,242
128
45
436
-
2,861
Loss
-
-
-
-
1,025
791
-
-
1,816
Total Other
consumer
$
5,899
$
32,313
$
23,740
$
17,752
$
15,506
$
8,025
$
64,173
$
-
$
167,408
Year-to-Date gross
write-offs
$
-
$
94
$
34
$
57
$
94
$
468
$
-
$
-
$
747
Total BPPR
$
1,162,202
$
5,564,516
$
4,183,182
$
3,147,221
$
2,789,693
$
7,673,518
$
3,123,753
$
32,828
$
27,676,913
 
 
52
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2026
2025
2024
2023
2022
Prior
Years
Total
Popular U.S.
Commercial:
Commercial multi-family
Pass
$
87,872
$
350,606
$
136,836
$
118,464
$
380,415
$
736,267
$
8,422
$
-
$
1,818,882
Watch
-
-
2,460
20,354
71,147
137,773
-
-
231,734
Special Mention
-
-
-
2,702
-
2,053
-
-
4,755
Substandard
-
-
-
1,769
2,720
24,344
-
-
28,833
Total commercial
multi-family
$
87,872
$
350,606
$
139,296
$
143,289
$
454,282
$
900,437
$
8,422
$
-
$
2,084,204
Commercial real estate non-owner occupied
Pass
$
23,820
$
216,348
$
163,271
$
321,723
$
460,793
$
722,441
$
7,065
$
-
$
1,915,461
Watch
-
10,300
9,757
11,387
15,032
59,839
-
-
106,315
Special Mention
-
-
2,067
-
-
1,888
-
-
3,955
Substandard
-
-
-
-
6,854
118,675
-
-
125,529
Total commercial
real estate non-
owner occupied
$
23,820
$
226,648
$
175,095
$
333,110
$
482,679
$
902,843
$
7,065
$
-
$
2,151,260
Commercial real estate owner occupied
Pass
$
257,819
$
562,643
$
219,711
$
155,809
$
192,366
$
399,096
$
10,052
$
-
$
1,797,496
Watch
-
-
35,238
55,274
25,253
32,158
1,600
-
149,523
Special Mention
-
-
17,890
-
-
10,816
-
-
28,706
Substandard
-
-
2,700
-
1,922
83,798
-
-
88,420
Total commercial
real estate owner
occupied
$
257,819
$
562,643
$
275,539
$
211,083
$
219,541
$
525,868
$
11,652
$
-
$
2,064,145
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
Pass
$
7,653
$
296,812
$
363,946
$
225,175
$
273,167
$
764,098
$
338,795
$
-
$
2,269,646
Watch
-
33,073
7,034
42,309
62,586
177,179
11,200
-
333,381
Special Mention
-
-
-
4,649
-
411
738
-
5,798
Substandard
-
-
5,441
1,070
3,906
1,506
4,546
-
16,469
Total commercial
and industrial
$
7,653
$
329,885
$
376,421
$
273,203
$
339,659
$
943,194
$
355,279
$
-
$
2,625,294
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
2
$
27
$
-
$
29
Construction
Pass
$
70,527
$
356,131
$
404,477
$
214,892
$
60,026
$
-
$
12,491
$
-
$
1,118,544
Watch
-
12,983
10,814
60,772
28,524
6,903
-
-
119,996
Special Mention
-
-
-
3,833
-
-
-
-
3,833
Substandard
-
-
7,526
2,912
8,603
-
-
-
19,041
Total construction
$
70,527
$
369,114
$
422,817
$
282,409
$
97,153
$
6,903
$
12,491
$
-
$
1,261,414
Mortgage
Pass
$
2,484
$
96,739
$
72,630
$
77,522
$
204,371
$
813,170
$
-
$
-
$
1,266,916
Substandard
-
-
-
644
-
9,056
-
-
9,700
Total mortgage
$
2,484
$
96,739
$
72,630
$
78,166
$
204,371
$
822,226
$
-
$
-
$
1,276,616
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
19
$
-
$
-
$
19
53
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2026
2025
2024
2023
2022
Prior
Years
Total
Popular U.S.
Consumer:
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
7
$
-
$
7
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
7
$
-
$
7
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
4,994
$
61,077
$
9,029
$
75,100
Substandard
-
-
-
-
-
1,219
11
880
2,110
Loss
-
-
-
-
-
39
-
617
656
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
6,252
$
61,088
$
10,526
$
77,866
Personal
Pass
$
3,471
$
16,383
$
15,929
$
10,265
$
12,048
$
3,216
$
-
$
-
$
61,312
Substandard
-
77
149
182
165
273
-
-
846
Loss
-
-
11
-
-
48
-
-
59
Total Personal
$
3,471
$
16,460
$
16,089
$
10,447
$
12,213
$
3,537
$
-
$
-
$
62,217
Year-to-Date gross
write-offs
$
30
$
276
$
554
$
454
$
300
$
204
$
-
$
-
$
1,818
Other consumer
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
9,766
$
-
$
9,766
Total Other
consumer
$
-
$
-
$
-
$
-
$
-
$
-
$
9,766
$
-
$
9,766
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
13
$
-
$
13
Total Popular U.S.
$
453,646
$
1,952,095
$
1,477,887
$
1,331,707
$
1,809,898
$
4,111,260
$
465,770
$
10,526
$
11,612,789
 
54
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2026
2025
2024
2023
2022
Prior
Years
Total
Popular, Inc.
Commercial:
Commercial multi-family
Pass
$
130,480
$
361,699
$
169,584
$
154,748
$
510,925
$
801,722
$
8,725
$
-
$
2,137,883
Watch
-
-
18,170
20,354
71,665
141,427
-
-
251,616
Special Mention
-
220
-
2,702
-
2,246
-
-
5,168
Substandard
-
-
-
1,769
2,720
28,139
-
-
32,628
Total commercial
multi-family
$
130,480
$
361,919
$
187,754
$
179,573
$
585,310
$
973,534
$
8,725
$
-
$
2,427,295
Commercial real estate non-owner occupied
Pass
$
106,023
$
657,711
$
564,718
$
584,933
$
1,243,710
$
1,859,295
$
12,332
$
-
$
5,028,722
Watch
-
32,616
21,578
54,185
20,005
157,557
598
-
286,539
Special Mention
-
1,814
2,067
868
141
43,002
-
-
47,892
Substandard
-
-
723
8,367
24,289
146,919
-
-
180,298
Total commercial
real estate non-
owner occupied
$
106,023
$
692,141
$
589,086
$
648,353
$
1,288,145
$
2,206,773
$
12,930
$
-
$
5,543,451
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
11,131
$
-
$
-
$
-
$
11,131
Commercial real estate owner occupied
Pass
$
275,415
$
716,207
$
331,217
$
203,999
$
262,089
$
821,670
$
32,882
$
-
$
2,643,479
Watch
-
6,194
61,800
61,440
59,680
125,236
2,649
-
316,999
Special Mention
190
-
17,890
1,484
2,935
28,161
1,500
-
52,160
Substandard
987
9,312
4,594
1,804
20,154
160,596
1,827
-
199,274
Doubtful
-
73
-
-
220
151
-
-
444
Total commercial
real estate owner
occupied
$
276,592
$
731,786
$
415,501
$
268,727
$
345,078
$
1,135,814
$
38,858
$
-
$
3,212,356
Year-to-Date gross
write-offs
$
1
$
-
$
-
$
-
$
-
$
90
$
-
$
-
$
91
Commercial and industrial
Pass
$
75,956
$
1,607,463
$
963,231
$
867,980
$
697,452
$
1,282,996
$
1,705,340
$
-
$
7,200,418
Watch
7,479
67,225
100,326
60,583
95,406
194,271
215,457
-
740,747
Special Mention
1,342
20,675
25,617
14,501
1,791
4,887
23,016
-
91,829
Substandard
8,539
36,138
20,405
47,591
98,182
171,776
149,909
-
532,540
Loss
-
-
-
-
-
-
25
-
25
Total commercial
and industrial
$
93,316
$
1,731,501
$
1,109,579
$
990,655
$
892,831
$
1,653,930
$
2,093,747
$
-
$
8,565,559
Year-to-Date gross
write-offs
$
322
$
257
$
161
$
60
$
14
$
16
$
1,817
$
-
$
2,647
 
55
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2026
2025
2024
2023
2022
Prior
Years
Total
Popular, Inc.
Construction
Pass
$
78,916
$
390,980
$
518,626
$
292,159
$
60,026
$
11,792
$
84,386
$
-
$
1,436,885
Watch
-
12,983
56,587
103,996
34,212
6,903
(247)
-
214,434
Special Mention
-
-
-
3,833
-
-
-
-
3,833
Substandard
-
-
7,526
2,912
8,603
-
-
-
19,041
Total construction
$
78,916
$
403,963
$
582,739
$
402,900
$
102,841
$
18,695
$
84,139
$
-
$
1,674,193
Mortgage
Pass
$
193,932
$
1,102,829
$
928,594
$
746,164
$
586,531
$
5,076,125
$
-
$
-
$
8,634,175
Substandard
-
183
727
3,516
1,922
71,838
-
-
78,186
Total mortgage
$
193,932
$
1,103,012
$
929,321
$
749,680
$
588,453
$
5,147,963
$
-
$
-
$
8,712,361
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
502
$
-
$
-
$
502
Leasing
Pass
$
202,295
$
598,503
$
498,463
$
324,408
$
225,282
$
128,323
$
-
$
-
$
1,977,274
Substandard
1
653
1,825
2,632
2,242
1,538
-
-
8,891
Total leasing
$
202,296
$
599,156
$
500,288
$
327,040
$
227,524
$
129,861
$
-
$
-
$
1,986,165
Year-to-Date gross
write-offs
$
21
$
1,064
$
1,026
$
1,082
$
693
$
199
$
-
$
-
$
4,085
56
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2026
2025
2024
2023
2022
Prior
Years
Total
Popular, Inc.
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,188,804
$
-
$
1,188,804
Substandard
-
-
-
-
-
-
25,392
-
25,392
Loss
-
-
-
-
-
-
3
-
3
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,214,199
$
-
$
1,214,199
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
19,235
$
-
$
19,235
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
4,994
$
62,975
$
9,029
$
76,998
Substandard
-
-
-
-
-
1,219
11
880
2,110
Loss
-
-
-
-
-
39
-
617
656
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
6,252
$
62,986
$
10,526
$
79,764
Personal
Pass
$
241,500
$
772,354
$
377,232
$
233,418
$
123,915
$
116,537
$
-
$
31,028
$
1,895,984
Substandard
-
1,721
2,921
2,657
1,411
6,705
-
1,800
17,215
Loss
-
-
20
1
-
61
-
-
82
Total Personal
$
241,500
$
774,075
$
380,173
$
236,076
$
125,326
$
123,303
$
-
$
32,828
$
1,913,281
Year-to-Date gross
write-offs
$
30
$
2,810
$
4,334
$
5,090
$
2,237
$
7,409
$
-
$
652
$
22,562
Auto
Pass
$
286,874
$
1,082,045
$
930,739
$
647,257
$
420,503
$
372,300
$
-
$
-
$
3,739,718
Substandard
20
4,671
12,133
10,915
8,074
8,326
-
-
44,139
Loss
-
29
16
-
-
2
-
-
47
Total Auto
$
286,894
$
1,086,745
$
942,888
$
658,172
$
428,577
$
380,628
$
-
$
-
$
3,783,904
Year-to-Date gross
write-offs
$
82
$
5,175
$
7,130
$
5,400
$
2,516
$
847
$
-
$
-
$
21,150
Other consumer
Pass
$
5,899
$
32,313
$
23,730
$
15,510
$
14,353
$
7,189
$
73,503
$
-
$
172,497
Substandard
-
-
10
2,242
128
45
436
-
2,861
Loss
-
-
-
-
1,025
791
-
-
1,816
Total Other
consumer
$
5,899
$
32,313
$
23,740
$
17,752
$
15,506
$
8,025
$
73,939
$
-
$
177,174
Year-to-Date gross
write-offs
$
-
$
94
$
34
$
57
$
94
$
468
$
13
$
-
$
760
Total Popular Inc.
$
1,615,848
$
7,516,611
$
5,661,069
$
4,478,928
$
4,599,591
$
11,784,778
$
3,589,523
$
43,354
$
39,289,702
 
 
 
57
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
 
Years
Total
BPPR
Commercial:
Commercial multi-family
Pass
$
12,328
$
32,906
$
 
36,473
$
131,276
$
20,536
$
47,303
$
 
107
$
-
$
280,929
Watch
-
15,795
-
523
-
1,742
-
-
18,060
Special Mention
222
-
-
-
73
127
-
-
422
Substandard
-
-
-
-
-
3,937
-
-
3,937
Total commercial
multi-family
$
12,550
$
48,701
$
 
36,473
$
131,799
$
20,609
$
53,109
$
 
107
$
-
$
303,348
Commercial real estate non-owner occupied
Pass
$
435,616
$
447,234
$
 
265,238
$
786,465
$
484,427
$
671,455
$
 
8,480
$
-
$
3,098,915
Watch
23,801
11,965
43,001
5,140
34,140
69,153
-
-
187,200
Special Mention
933
-
872
144
23,724
18,398
-
-
44,071
Substandard
-
726
8,406
28,490
1,438
25,884
-
-
64,944
Total commercial
real estate non-
owner occupied
$
460,350
$
459,925
$
 
317,517
$
820,239
$
543,729
$
784,890
$
 
8,480
$
-
$
3,395,130
Year-to-Date gross
write-offs
$
-
$
13,356
$
 
-
$
134
$
-
$
86
$
 
-
$
-
$
13,576
Commercial real estate owner occupied
Pass
$
157,288
$
113,778
$
 
71,288
$
55,715
$
169,037
$
278,495
$
 
20,468
$
-
$
866,069
Watch
6,255
26,923
6,348
35,565
29,409
78,046
2,191
-
184,737
Special Mention
-
-
1,494
18,063
726
12,637
1,500
-
34,420
Substandard
9,405
1,879
1,839
19,190
7,386
71,358
-
-
111,057
Doubtful
75
-
-
-
62
173
-
-
310
Total commercial
real estate owner
occupied
$
173,023
$
142,580
$
 
80,969
$
128,533
$
206,620
$
440,709
$
 
24,159
$
-
$
1,196,593
Year-to-Date gross
write-offs
$
-
$
-
$
 
-
$
-
$
-
$
363
$
 
-
$
-
$
363
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
Pass
$
1,357,401
$
 
598,521
$
 
649,249
$
 
442,753
$
 
193,173
$
 
346,563
$
 
1,376,855
$
 
-
$
 
4,964,515
Watch
11,706
92,478
19,194
43,529
6,909
19,218
223,490
-
416,524
Special Mention
4,991
26,356
10,178
6,857
454
4,338
14,957
-
68,131
Substandard
38,422
12,526
48,230
89,771
156,970
15,079
159,854
-
520,852
Doubtful
21
-
-
24
-
6
-
-
51
Total commercial
and industrial
$
1,412,541
$
 
729,881
$
 
726,851
$
 
582,934
$
 
357,506
$
 
385,204
$
 
1,775,156
$
 
-
$
 
5,970,073
Year-to-Date gross
write-offs
$
1,587
$
 
716
$
 
1,643
$
 
655
$
 
21
$
 
803
$
 
9,320
$
 
-
$
 
14,745
Construction
Pass
$
28,575
$
99,963
$
 
70,674
$
-
$
3,608
$
9,692
$
 
52,758
$
-
$
265,270
Watch
-
43,202
40,231
8,129
-
-
709
-
92,271
Total construction
$
28,575
$
143,165
$
 
110,905
$
8,129
$
3,608
$
9,692
$
 
53,467
$
-
$
357,541
Mortgage
Pass
$
986,795
$
872,826
$
 
683,325
$
386,318
$
373,153
$
3,977,979
$
 
-
$
-
$
7,280,396
Substandard
-
151
3,115
1,915
764
61,626
-
-
67,571
Total mortgage
$
986,795
$
872,977
$
 
686,440
$
388,233
$
373,917
$
4,039,605
$
 
-
$
-
$
7,347,967
Year-to-Date gross
write-offs
$
31
 
$
 
-
 
$
 
1
 
$
 
-
 
$
 
-
 
$
 
1,404
$
 
-
$
 
-
$
 
1,436
58
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
 
Years
Total
BPPR
Leasing
Pass
$
682,378
$
535,227
$
 
354,748
$
251,520
$
135,973
$
32,270
$
 
-
$
-
$
1,992,116
Substandard
601
1,891
2,424
2,249
1,302
585
-
-
9,052
Loss
175
-
22
-
-
-
-
-
197
Total leasing
$
683,154
$
537,118
$
 
357,194
$
253,769
$
137,275
$
32,855
$
 
-
$
-
$
2,001,365
Year-to-Date gross
write-offs
$
990
$
4,449
$
 
5,041
$
4,541
$
1,807
$
28
$
 
-
$
-
$
16,856
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,229,201
$
-
$
1,229,201
Substandard
-
-
-
-
-
-
27,526
-
27,526
Loss
-
-
-
-
-
-
4
-
4
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,256,731
$
-
$
1,256,731
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
75,428
$
-
$
75,428
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,908
$
-
$
1,908
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
-
$
1,908
$
-
$
1,908
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
25
$
-
$
25
Personal
Pass
$
842,532
$
422,156
$
 
261,441
$
132,551
$
51,320
$
77,214
$
 
-
$
29,700
$
1,816,914
Substandard
1,452
3,310
3,509
1,632
618
6,654
-
2,278
19,453
Loss
-
4
7
12
-
12
-
-
35
Total Personal
$
843,984
$
425,470
$
 
264,957
$
134,195
$
51,938
$
83,880
$
 
-
$
31,978
$
1,836,402
Year-to-Date gross
write-offs
$
2,597
$
 
19,480
$
 
33,310
$
 
17,825
$
 
4,576
$
 
2,160
$
 
-
$
 
3,031
$
82,979
Auto
Pass
$
1,139,411
$
995,283
$
 
702,884
$
464,005
$
314,721
$
142,456
$
 
-
$
-
$
3,758,760
Substandard
3,992
17,559
14,881
11,699
7,590
5,306
-
-
61,027
Loss
-
-
-
-
19
6
-
-
25
Total Auto
$
1,143,403
$
1,012,842
$
717,765
$
475,704
$
322,330
$
147,768
$
-
$
-
$
3,819,812
Year-to-Date gross
write-offs
$
6,682
$
 
29,448
$
 
20,777
$
 
12,602
$
 
5,203
$
 
1,572
$
 
-
$
 
-
$
76,284
Other consumer
Pass
$
35,716
$
25,008
$
 
20,233
$
15,243
$
7,179
$
1,756
$
 
64,322
$
-
$
169,457
Substandard
-
45
211
114
20
47
476
-
913
Loss
-
-
-
1,025
363
-
-
-
1,388
Total Other
consumer
$
35,716
$
25,053
$
 
20,444
$
16,382
$
7,562
$
1,803
$
 
64,798
$
-
$
171,758
Year-to-Date gross
write-offs
$
64
$
226
$
 
286
$
254
$
358
$
1,960
$
 
-
$
-
$
3,148
Total BPPR
$
5,780,091
$
4,397,712
$
3,319,515
$
2,939,917
$
2,025,094
$
5,979,515
$
3,184,806
$
31,978
$
27,658,628
 
59
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular U.S.
Commercial:
Commercial multi-family
Pass
$
349,850
$
138,662
$
 
118,143
$
380,479
$
274,195
$
534,623
$
 
4,394
$
-
$
1,800,346
Watch
-
2,468
21,142
94,135
39,881
151,526
1,249
-
310,401
Special Mention
-
-
2,711
7,840
-
4,560
-
-
15,111
Substandard
-
-
1,775
2,729
-
22,080
-
-
26,584
Total commercial
multi-family
$
349,850
$
141,130
$
 
143,771
$
485,183
$
314,076
$
712,789
$
5,643
$
-
$
2,152,442
Year-to-Date gross
write-offs
$
-
$
 
-
$
 
-
$
 
-
$
 
-
$
 
563
$
 
-
$
 
-
$
 
563
Commercial real estate non-owner occupied
Pass
$
216,537
$
162,382
$
 
296,653
$
467,811
$
163,984
$
582,004
$
 
6,024
$
-
$
1,895,395
Watch
10,300
11,369
11,441
15,141
9,333
65,750
500
-
123,834
Special Mention
-
2,069
-
-
-
1,902
-
-
3,971
Substandard
-
-
-
5,973
4,726
114,255
-
-
124,954
Total commercial
real estate non-
owner occupied
$
226,837
$
175,820
$
 
308,094
$
488,925
$
178,043
$
763,911
$
6,524
$
-
$
2,148,154
Commercial real estate owner occupied
Pass
$
561,716
$
198,946
$
 
192,174
$
188,536
$
180,981
$
288,439
$
 
8,803
$
-
$
1,619,595
Watch
-
48,837
39,519
30,764
12,813
52,010
3,179
-
187,122
Special Mention
-
17,946
-
-
-
10,944
-
-
28,890
Substandard
-
2,705
-
39,474
1,571
77,130
-
-
120,880
Total commercial
real estate owner
occupied
$
561,716
$
268,434
$
 
231,693
$
258,774
$
195,365
$
428,523
$
11,982
$
-
$
1,956,487
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
27
$
-
$
-
$
27
60
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular U.S.
Commercial and industrial
Pass
$
247,703
$
357,722
$
 
230,702
$
278,950
$
249,467
$
545,331
$
 
338,026
$
-
$
2,247,901
Watch
34,700
5,196
47,136
70,767
42,072
151,368
15,650
-
366,889
Special Mention
-
-
4,649
63
284
198
738
-
5,932
Substandard
-
5,546
838
4,145
112
1,393
4,583
-
16,617
Total commercial
and industrial
$
282,403
$
368,464
$
 
283,325
$
353,925
$
291,935
$
698,290
$
 
358,997
$
-
$
2,637,339
Year-to-Date gross
write-offs
$
100
$
 
1,106
$
 
483
$
 
-
$
 
599
$
 
25
$
 
132
$
 
-
$
 
2,445
Construction
Pass
$
358,475
$
427,221
$
 
291,714
$
85,385
$
-
$
6,030
$
 
12,491
$
-
$
1,181,316
Watch
1,366
15,771
72,580
27,870
-
6,941
-
-
124,528
Special Mention
-
-
2,912
-
-
-
-
-
2,912
Substandard
-
-
-
8,602
-
-
-
-
8,602
Total construction
$
359,841
$
442,992
$
 
367,206
$
121,857
$
-
$
12,971
$
 
12,491
$
-
$
1,317,358
Mortgage
Pass
$
100,210
$
78,166
$
 
79,367
$
205,446
$
259,877
$
564,985
$
 
-
$
-
$
1,288,051
Substandard
-
-
644
495
217
12,066
-
-
13,422
Total mortgage
$
100,210
$
78,166
$
 
80,011
$
205,941
$
260,094
$
577,051
$
 
-
$
-
$
1,301,473
61
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular U.S.
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
(14)
$
-
$
(14)
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
(14)
$
-
$
(14)
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
5,201
$
59,363
$
9,422
$
73,986
Substandard
-
-
-
-
-
1,276
12
543
1,831
Loss
-
-
-
-
-
139
-
828
967
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
6,616
$
59,375
$
10,793
$
76,784
Year-to-Date gross
write-offs
$
-
$
 
-
$
 
-
$
 
-
$
 
-
$
 
-
$
 
84
$
 
-
$
 
84
Personal
Pass
$
18,658
$
17,906
$
12,102
$
15,593
$
3,061
$
1,272
$
-
$
-
$
68,592
Substandard
74
329
309
153
55
256
-
-
1,176
Loss
10
-
-
-
-
48
-
-
58
Total Personal
$
18,742
$
18,235
$
12,411
$
15,746
$
3,116
$
1,576
$
-
$
-
$
69,826
Year-to-Date gross
write-offs
$
37
$
 
1,787
$
 
2,212
$
 
3,420
$
 
638
$
 
46
$
 
-
$
 
-
$
 
8,140
Other consumer
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
9,012
$
-
$
9,012
Substandard
-
-
-
-
-
-
1
-
1
Loss
-
-
-
-
-
-
28
-
28
Total Other
consumer
$
-
$
-
$
-
$
-
$
-
$
-
$
9,041
$
-
$
9,041
Year-to-Date gross
write-offs
$
-
$
 
-
$
 
-
$
 
-
$
 
-
$
 
-
$
 
924
$
 
-
$
 
924
Total Popular U.S.
$
1,899,599
$
1,493,241
$
1,426,511
$
1,930,351
$
1,242,629
$
3,201,727
$
464,039
$
10,793
$
11,668,890
 
62
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular, Inc.
Commercial:
Commercial multi-family
Pass
$
362,178
$
171,568
$
154,616
$
511,755
$
294,731
$
581,926
$
 
4,501
$
-
$
2,081,275
Watch
-
18,263
21,142
94,658
39,881
153,268
1,249
-
328,461
Special Mention
222
-
2,711
7,840
73
4,687
-
-
15,533
Substandard
-
-
1,775
2,729
-
26,017
-
-
30,521
Total commercial
multi-family
$
362,400
$
189,831
$
180,244
$
616,982
$
334,685
$
765,898
$
 
5,750
$
 
-
 
$
2,455,790
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
563
$
 
-
$
-
$
563
Commercial real estate non-owner occupied
Pass
$
652,153
$
609,616
$
561,891
$
1,254,276
$
648,411
$
1,253,459
$
 
14,504
$
-
$
4,994,310
Watch
34,101
23,334
54,442
20,281
43,473
134,903
500
-
311,034
Special Mention
933
2,069
872
144
23,724
20,300
-
-
48,042
Substandard
-
726
8,406
34,463
6,164
140,139
-
-
189,898
Total commercial
real estate non-
owner occupied
$
687,187
$
635,745
$
625,611
$
1,309,164
$
721,772
$
1,548,801
$
 
15,004
$
 
-
 
$
5,543,284
Year-to-Date gross
write-offs
$
-
$
13,356
$
-
$
134
$
-
$
86
$
 
-
$
-
$
13,576
Commercial real estate owner occupied
Pass
$
719,004
$
312,724
$
263,462
$
244,251
$
350,018
$
566,934
$
 
29,271
$
-
$
2,485,664
Watch
6,255
75,760
45,867
66,329
42,222
130,056
5,370
-
371,859
Special Mention
-
17,946
1,494
18,063
726
23,581
1,500
-
63,310
Substandard
9,405
4,584
1,839
58,664
8,957
148,488
-
-
231,937
Doubtful
75
-
-
-
62
173
-
-
310
Total commercial
real estate owner
occupied
$
734,739
$
411,014
$
312,662
$
387,307
$
401,985
$
869,232
$
 
36,141
$
-
$
3,153,080
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
390
$
 
-
$
-
$
390
Commercial and industrial
Pass
$
1,605,104
$
956,243
$
879,951
$
721,703
$
442,640
$
891,894
$
 
1,714,881
$
-
$
7,212,416
Watch
46,406
97,674
66,330
114,296
48,981
170,586
239,140
-
783,413
Special Mention
4,991
26,356
14,827
6,920
738
4,536
15,695
-
74,063
Substandard
38,422
18,072
49,068
93,916
157,082
16,472
164,437
-
537,469
Doubtful
21
-
-
24
-
6
-
-
51
Total commercial
and industrial
$
1,694,944
$
1,098,345
$
1,010,176
$
936,859
$
649,441
$
1,083,494
$
 
2,134,153
$
-
$
8,607,412
Year-to-Date gross
write-offs
$
1,687
$
1,822
$
2,126
$
655
$
620
$
828
$
 
9,452
$
-
$
17,190
 
63
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular, Inc.
Construction
Pass
$
387,050
$
527,184
$
 
362,388
$
85,385
$
3,608
$
15,722
$
 
65,249
$
-
$
1,446,586
Watch
1,366
58,973
112,811
35,999
-
6,941
709
-
216,799
Special Mention
-
-
2,912
-
-
-
-
-
2,912
Substandard
-
-
-
8,602
-
-
-
-
8,602
Total construction
$
388,416
$
586,157
$
 
478,111
$
129,986
$
3,608
$
22,663
$
 
65,958
$
-
$
1,674,899
Mortgage
Pass
$
1,087,005
$
950,992
$
 
762,692
$
591,764
$
633,030
$
4,542,964
$
 
-
$
-
$
8,568,447
Substandard
-
151
3,759
2,410
981
73,692
-
-
80,993
Total mortgage
$
1,087,005
$
951,143
$
 
766,451
$
594,174
$
634,011
$
4,616,656
$
 
-
$
-
$
8,649,440
Year-to-Date gross
write-offs
$
31
$
-
$
 
1
$
-
$
-
$
1,404
$
 
-
$
-
$
1,436
Leasing
Pass
$
682,378
$
535,227
$
 
354,748
$
251,520
$
135,973
$
32,270
$
 
-
$
-
$
1,992,116
Substandard
601
1,891
2,424
2,249
1,302
585
-
-
9,052
Loss
175
-
22
-
-
-
-
-
197
Total leasing
$
683,154
$
537,118
$
 
357,194
$
253,769
$
137,275
$
32,855
$
 
-
$
-
$
2,001,365
Year-to-Date gross
write-offs
$
990
$
4,449
$
 
5,041
$
4,541
$
1,807
$
28
$
 
-
$
-
$
16,856
64
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
Term Loans
Revolving
Loans
Amortized
Cost Basis
Revolving
Loans
Converted to
Term Loans
Amortized
Cost Basis
Amortized Cost Basis by Origination Year
(In thousands)
2025
2024
2023
2022
2021
Prior
Years
Total
Popular, Inc.
Consumer:
Credit cards
Pass
$
-
$
-
$
-
$
-
$
-
$
-
$
1,229,187
$
-
$
1,229,187
Substandard
-
-
-
-
-
-
27,526
-
27,526
Loss
-
-
-
-
-
-
4
-
4
Total credit cards
$
-
$
-
$
-
$
-
$
-
$
-
$
1,256,717
$
-
$
1,256,717
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
75,428
$
-
$
75,428
HELOCs
Pass
$
-
$
-
$
-
$
-
$
-
$
5,201
$
61,271
$
9,422
$
75,894
Substandard
-
-
-
-
-
1,276
12
543
1,831
Loss
-
-
-
-
-
139
-
828
967
Total HELOCs
$
-
$
-
$
-
$
-
$
-
$
6,616
$
61,283
$
10,793
$
78,692
Year-to-Date gross
write-offs
$
-
$
-
$
-
$
-
$
-
$
-
$
109
$
-
$
109
Personal
Pass
$
861,190
$
440,062
$
273,543
$
148,144
$
54,381
$
78,486
$
-
$
29,700
$
1,885,506
Substandard
1,526
3,639
3,818
1,785
673
6,910
-
2,278
20,629
Loss
10
4
7
12
-
60
-
-
93
Total Personal
$
862,726
$
443,705
$
277,368
$
149,941
$
55,054
$
85,456
$
-
$
31,978
$
1,906,228
Year-to-Date gross
write-offs
$
2,634
$
21,267
$
35,522
$
21,245
$
5,214
$
2,206
$
-
$
3,031
$
91,119
Auto
Pass
$
1,139,411
$
995,283
$
 
702,884
$
464,005
$
314,721
$
142,456
$
-
$
-
$
3,758,760
Substandard
3,992
17,559
14,881
11,699
7,590
5,306
-
-
61,027
Loss
-
-
-
-
19
6
-
-
25
Total Auto
$
1,143,403
$
1,012,842
$
 
717,765
$
475,704
$
322,330
$
147,768
$
-
$
-
$
3,819,812
Year-to-Date gross
write-offs
$
6,682
$
29,448
$
20,777
$
12,602
$
5,203
$
1,572
$
-
$
-
$
76,284
Other consumer
Pass
$
35,716
$
25,008
$
20,233
$
15,243
$
7,179
$
1,756
$
73,334
$
-
$
178,469
Substandard
-
45
211
114
20
47
477
-
914
Loss
-
-
-
1,025
363
-
28
-
1,416
Total Other
consumer
$
35,716
$
25,053
$
20,444
$
16,382
$
7,562
$
1,803
$
73,839
$
-
$
180,799
Year-to-Date gross
write-offs
$
64
$
226
$
286
$
254
$
358
$
1,960
$
924
$
-
$
4,072
Total Popular Inc.
$
7,679,690
$
5,890,953
$
4,746,026
$
4,870,268
$
3,267,723
$
9,181,242
$
3,648,845
$
42,771
$
39,327,518
 
 
65
Note 9 – Other real estate owned
The following tables present the
 
activity related to Other Real Estate
 
Owned (“OREO”),
 
for the quarters ended
 
March 31, 2026 and
2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarter ended March 31, 2026
OREO
OREO
(In thousands)
Commercial/Construction
Mortgage
Total
Balance at beginning of period
$
4,911
$
37,522
$
42,433
Write-downs in value
(190)
(535)
(725)
Additions
974
11,394
12,368
Sales
(558)
(7,542)
(8,100)
Other adjustments
-
(296)
(296)
Ending balance
$
5,137
$
40,543
$
45,680
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the quarter ended March 31, 2025
OREO
OREO
(In thousands)
Commercial/Construction
Mortgage
Total
Balance at beginning of period
$
8,424
$
48,844
$
57,268
Write-downs in value
(29)
(1,199)
(1,228)
Additions
257
8,789
9,046
Sales
(1,541)
(11,229)
(12,770)
Other adjustments
-
(202)
(202)
Ending balance
$
7,111
$
45,003
$
52,114
 
 
66
Note 10 − Other assets
The caption of other assets in the Consolidated
 
Statements of Financial Condition consists of the
 
following major categories:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2026
December 31, 2025
Net deferred tax assets (net of valuation allowance)
$
811,150
$
814,265
Investments under the equity method
280,246
261,687
Prepaid taxes
33,621
42,762
Other prepaid expenses
24,984
25,542
Capitalized software costs
193,973
183,381
Derivative assets
23,917
27,913
Trades receivable from brokers and counterparties
551
245
Principal, interest and escrow servicing advances
27,678
30,252
Guaranteed mortgage loan claims receivable
7,093
9,184
Operating ROU assets
97,803
95,234
Finance ROU assets
 
24,383
23,686
Assets for pension benefit
39,497
38,157
Others
166,873
153,669
Total other assets
$
1,731,769
$
1,705,977
The Corporation regularly incurs in
 
capitalizable costs associated with software development or
 
licensing which are recorded within
the Other Assets line
 
item in the accompanying Consolidated Statements
 
of Financial Condition.
 
In addition, the Corporation incurs
costs
 
associated
 
with
 
hosting
 
arrangements
 
that
 
are
 
service
 
contracts
 
that
 
are
 
also
 
recorded
 
within
 
Other
 
Assets.
 
The
 
hosting
arrangements can
 
include capitalizable
 
implementation costs
 
that are
 
amortized during
 
the term
 
of the
 
hosting arrangement.
The
following
 
table
 
summarizes
 
the
 
composition
 
of
 
acquired
 
or
 
developed
 
software
 
costs
 
as
 
well
 
as
 
costs
 
related
 
to
 
hosting
arrangements:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Carrying
Accumulated
Net Carrying
(In thousands)
Amount
Amortization
Value
March 31, 2026
Software development costs
$
104,516
$
37,735
$
66,781
Software license costs
73,116
39,149
33,967
Cloud computing arrangements
111,549
18,324
93,225
Total Capitalized
 
software costs [1] [2]
$
289,181
$
95,208
$
193,973
December 31, 2025
Software development costs
$
103,628
$
34,170
$
69,458
Software license costs
46,538
24,475
22,063
Cloud computing arrangements
106,410
14,550
91,860
Total Capitalized
 
software costs [1] [2]
$
256,576
$
73,195
$
183,381
[1]
Software intangible assets are presented as part of Other
 
Assets in the Consolidated Statements of Financial Condition.
[2]
The tables above exclude assets that have been fully
 
amortized.
Total
 
amortization expense for
 
all capitalized software
 
and hosting arrangement
 
cost, reflected as
 
part of
 
technology and software
expenses in the consolidated statement of operations,
 
is as follows:
67
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarters ended March 31,
(In thousands)
2026
2025
Software development and license costs
$
23,956
$
21,728
Cloud computing arrangements
3,601
1,366
Total amortization
 
expense
$
27,557
$
23,094
 
 
68
Note 11 – Goodwill and other intangible assets
 
Goodwill
There were
no
 
changes in the carrying amount of goodwill
 
for the quarters ended March 31, 2026 and
 
2025.
The following tables present the gross amount
 
of goodwill and accumulated impairment losses
 
by reportable segment (refer to Note
28 for the definition of the Corporation’s reportable segments):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
Balance at
Balance at
March 31,
Accumulated
March 31,
2026
impairment
2026
(In thousands)
 
(gross amounts)
losses
 
(net amounts)
Banco Popular de Puerto Rico
$
438,710
$
3,801
$
434,909
Popular U.S.
564,456
209,411
355,045
Total Popular,
 
Inc.
 
$
1,003,166
$
213,212
$
789,954
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
 
Balance at
 
 
Balance at
 
December 31,
Accumulated
December 31,
2025
impairment
2025
(In thousands)
 
(gross amounts)
losses
 
(net amounts)
Banco Popular de Puerto Rico
$
438,710
$
3,801
$
434,909
Popular U.S.
564,456
209,411
355,045
Total Popular,
 
Inc.
 
$
1,003,166
$
213,212
$
789,954
 
Other Intangible Assets
At March
 
31, 2026,
 
the Corporation
 
had intangible
 
assets subject
 
to amortization
 
amounting to
 
$
3.9
 
million (December
 
31, 2025-
$
4.3
 
million), which will be amortized through the
 
year 2029
.
 
69
Note 12 – Deposits
Total deposits as of the end of the periods presented consisted of:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2026
December 31, 2025
Savings accounts
$
14,632,435
$
14,368,599
NOW, money market and other interest
 
-bearing demand deposits
27,447,163
27,037,924
Total savings, NOW,
 
money market and other interest-bearing demand deposits
42,079,598
41,406,523
Certificates of deposit:
Under $250,000
5,616,700
5,564,615
$250,000 and over
4,129,230
3,914,746
 
Total certificates
 
of deposit
9,745,930
9,479,361
Total interest-bearing
 
deposits
$
51,825,528
$
50,885,884
Non- interest-bearing deposits
$
15,785,788
$
15,304,209
Total deposits
$
67,611,316
$
66,190,093
A summary of certificates of deposits by maturity at
 
March 31, 2026 follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
2026
$
6,098,880
2027
1,807,034
2028
775,731
2029
453,492
2030
420,618
2031 and thereafter
190,175
Total certificates of
 
deposit
$
9,745,930
At March 31, 2026, the Corporation had brokered
 
deposits amounting to $
1.0
 
billion (December 31, 2025 - $
1.0
 
billion).
The aggregate amount of overdrafts in demand
 
deposit accounts that were reclassified to loans was
 
$
9.2
 
million at March 31, 2026
(December 31, 2025 - $
10.7
 
million).
At
 
March
 
31,
 
2026,
 
Puerto
 
Rico
 
government
 
deposits
 
amounted
 
to
 
$
19.7
 
billion.
 
Puerto
 
Rico
 
government
 
deposits
 
are
 
interest
bearing accounts, which are indexed to short-term market
 
rates and fluctuate in cost with changes in those rates, in accordance
 
with
contractual terms.
 
70
Note 13 – Borrowings
Assets sold under agreements to repurchase
Assets sold under agreements to repurchase amounted
 
to $
35
 
million at March 31, 2026 and $
39
 
million at December 31, 2025.
The Corporation’s
 
repurchase transactions are
 
overcollateralized with the
 
securities detailed in
 
the table
 
below.
 
The Corporation’s
repurchase
 
agreements
 
have
 
a
 
right
 
of
 
set-off
 
with
 
the
 
respective
 
counterparty
 
under
 
the
 
supplemental
 
terms
 
of
 
the
 
master
repurchase agreements.
 
In an
 
event of
 
default,
 
each party
 
has a
 
right of
 
set-off
 
against the
 
other party
 
for amounts
 
owed in
 
the
related
 
agreement
 
and
 
any
 
other
 
amount
 
or
 
obligation
 
owed
 
in
 
respect
 
of
 
any
 
other
 
agreement
 
or
 
transaction
 
between
 
them.
Pursuant to the
 
Corporation’s accounting policy,
 
the repurchase agreements
 
are not offset
 
with other repurchase
 
agreements held
with the same counterparty.
The following table
 
presents information related to
 
the Corporation’s repurchase
 
transactions accounted for as
 
secured borrowings
that
 
are
 
collateralized
 
with
 
debt
 
securities
 
available-for-sale,
 
debt
 
securities
 
held-to-maturity,
 
and
 
other
 
assets
 
held-for-trading
purposes or
 
which have
 
been obtained
 
under agreements
 
to resell.
 
It is
 
the Corporation’s
 
policy to
 
maintain effective
 
control over
assets sold under agreements to repurchase; accordingly, such
 
securities continue to be carried on the Consolidated Statements of
Financial Condition.
Repurchase agreements accounted for as secured borrowings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
December 31, 2025
Repurchase
Repurchase
(In thousands)
 
liability
 
liability
U.S. Treasury securities
Within 30 days
$
15,083
$
29,356
After 30 to 90 days
19,493
9,645
Total U.S. Treasury
 
securities
34,576
39,001
Total
$
34,576
$
39,001
Repurchase agreements in this portfolio
 
are generally short-term, often overnight.
 
As such our risk
 
is very limited.
 
We manage the
liquidity risks arising from secured
 
funding by sourcing funding globally from
 
a diverse group of counterparties, providing
 
a range of
securities collateral and pursuing longer durations,
 
when appropriate.
Other short-term borrowings
At March 31, 2026 and December 31, 2025,
 
other short-term borrowings consisted of $
350
 
million and $
650
 
million, respectively, in
FHLB Advances.
 
 
71
Notes Payable
The following table presents the composition of notes
 
payable at March 31, 2026 and December
 
31, 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2026
December 31, 2025
Advances with the FHLB with maturities ranging from
2026
 
through
2029
 
paying interest at
monthly
fixed rates ranging from
0.69
% to
4.17
%
$
139,620
$
164,620
Unsecured senior debt securities maturing on
2028
 
paying interest
semi-annually
 
at a fixed rate of
7.25
%, net of debt issuance costs of $
3,045
396,955
396,558
Junior subordinated deferrable interest debentures (related to
 
trust preferred securities) maturing on
2034
 
with fixed interest rates ranging from
6.125
% to
6.564
%, net of debt issuance costs of $
227
198,406
198,399
Total notes payable
$
734,981
$
759,577
Note: Refer to the 2025 Form 10-K for rates information
 
at December 31, 2025.
A breakdown of borrowings by contractual maturities
 
at March 31, 2026 is included in the table
 
below.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets sold under
 
Short-term
(In thousands)
agreements to
repurchase
borrowings
Notes payable
Total
2026
34,576
350,000
49,500
434,076
2027
-
-
6,113
6,113
2028
-
-
441,305
441,305
2029
-
-
39,657
39,657
Later years
-
-
198,406
198,406
Total borrowings
$
34,576
$
350,000
$
734,981
$
1,119,557
At March
 
31, 2026
 
and December 31,
 
2025, the
 
Corporation had FHLB
 
borrowing facilities whereby
 
the Corporation could
 
borrow
up to
 
$
4.7
 
billion and $
4.8
 
billion, respectively,
 
of which $
0.5
 
billion and $
0.8
 
billion, respectively,
 
were used. The
 
FHLB borrowing
facilities are collateralized with securities and loans
 
held-in-portfolio, and do not have restrictive covenants
 
or callable features.
 
Also, at March 31,
 
2026, the Corporation had borrowing
 
facilities at the discount
 
window of the Federal Reserve
 
Bank of New York
amounting to $
12.2
 
billion (December 31, 2025 - $
12.1
 
billion), which remained unused at March 31, 2026 and December 31, 2025.
 
The facilities are a collateralized source of credit that
 
is highly dependable even under difficult market
 
conditions.
 
72
Note 14 − Other liabilities
The caption of other liabilities in the Consolidated
 
Statements of Financial Condition consists of the
 
following major categories:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2026
December 31, 2025
Accrued expenses
$
232,452
$
321,203
Accrued interest payable
58,961
66,240
Accounts payable
98,568
78,998
Dividends payable
48,665
49,596
Trades payable
297,657
595,911
Liability for GNMA loans sold with an option to repurchase
8,225
8,734
Reserves for loan indemnifications
2,624
2,704
Reserve for operational losses
21,344
20,723
Operating lease liabilities
107,396
104,958
Finance lease liabilities
 
27,525
27,389
Pension benefit obligation
4,624
4,739
Postretirement benefit obligation
104,477
103,974
Others
76,541
75,348
Total other liabilities
$
1,089,059
$
1,460,517
73
Note 15 – Stockholders’ equity
 
As of March 31,
 
2026, stockholders’ equity totaled $
6.3
 
billion. During the quarter
 
ended March 31, 2026, the
 
Corporation declared
cash dividends of $
0.75
 
(2025 - $
0.70
) per common share amounting to
 
$
48.7
 
million (2025 - $
48.4
 
million). The quarterly dividend
of $
0.75
 
per share declared to stockholders of record as
 
of the close of business on
March 18, 2026
 
was paid on
April 1, 2026
.
During the
 
quarter ended
 
March 31,
 
2026, the
 
Corporation completed
 
the
 
repurchase of
1,155,398
 
shares of
 
common stock
 
for
$
155.2
 
million at an average price of
 
$
134.31
 
per share under the 2025 common stock
 
repurchase program. As of March 31, 2026,
$
126.0
 
million
 
remained
 
available
 
for
 
stock
 
repurchase
 
under
 
the
 
2025
 
common
 
stock
 
repurchase
 
program.
 
During
 
the
 
quarter
ended March
 
31, 2025,
 
the Corporation
 
completed the
 
repurchase of
1,270,569
 
shares of
 
common stock
 
for $
122.3
 
million at
 
an
average price of $
96.24
 
per share, as part of the 2024 common stock
 
repurchase program.
74
Note 16 – Other comprehensive income (loss)
The
 
following
 
table
 
presents
 
changes
 
in
 
accumulated
 
other
 
comprehensive
 
income
 
(loss)
 
by
 
component
 
for
 
the
 
quarters
 
ended
March 31, 2026 and 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Changes in Accumulated Other Comprehensive Income
 
(Loss) by Component [1]
Quarters ended March 31,
(In thousands)
2026
2025
Foreign currency translation
Beginning Balance
$
(85,282)
$
(71,365)
Other comprehensive loss
(256)
(6,646)
Net change
(256)
(6,646)
Ending balance
$
(85,538)
$
(78,011)
Adjustment of pension and
postretirement benefit plans
Beginning Balance
$
(91,155)
$
(94,692)
Amounts reclassified from accumulated other comprehensive loss
 
for
amortization of net losses
1,411
1,421
Net change
1,411
1,421
Ending balance
$
(89,744)
$
(93,271)
Unrealized net holding losses on
debt securities
Beginning Balance
$
(1,005,650)
$
(1,495,183)
Other comprehensive (loss) income before reclassifications
(25,257)
140,229
Amounts reclassified from accumulated other comprehensive loss
 
for
amortization of net unrealized losses of debt securities
 
transferred from
available-for-sale to held-to-maturity
37,501
36,249
Net change
12,244
176,478
Ending balance
$
(993,406)
$
(1,318,705)
Total accumulated
 
other comprehensive loss
$
(1,168,688)
$
(1,489,987)
[1] All amounts presented are net of tax.
 
75
The following table
 
presents the amounts
 
reclassified out of
 
each component of
 
accumulated other comprehensive loss
 
during the
quarters ended March 31, 2026 and 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reclassifications Out of Accumulated Other Comprehensive
 
Loss
Affected Line Item in the
 
Quarters ended March 31,
(In thousands)
Consolidated Statements of Operations
2026
2025
Adjustment of pension and postretirement benefit plans
Amortization of net losses
Other operating expenses
$
(2,258)
$
(2,273)
Total before tax
(2,258)
(2,273)
Income tax benefit
847
852
Total net of tax
$
(1,411)
$
(1,421)
Unrealized holding losses on debts securities
Amortization of unrealized net losses of debt
securities transferred to held-to-maturity
Investment securities
$
(46,876)
$
(45,311)
Total before tax
(46,876)
(45,311)
Income tax benefit
9,375
9,062
Total net of tax
$
(37,501)
$
(36,249)
Total reclassification
 
adjustments, net of tax
$
(38,912)
$
(37,670)
76
Note 17 – Guarantees
The Corporation
 
has obligations
 
upon the
 
occurrence of
 
certain events
 
under financial
 
guarantees provided
 
in certain
 
contractual
agreements.
 
Also,
 
from
 
time
 
to
 
time,
 
the
 
Corporation
 
securitized
 
mortgage
 
loans
 
into
 
guaranteed
 
mortgage-backed
 
securities
subject in certain instances, to
 
lifetime credit recourse on the
 
loans that serve as collateral
 
for the mortgage-backed securities. The
Corporation has
 
not sold
 
any mortgage
 
loans subject
 
to credit
 
recourse since
 
2009. Also,
 
from time
 
to time,
 
the Corporation
 
may
sell, in
 
bulk sale
 
transactions, residential
 
mortgage loans
 
and Small
 
Business Administration
 
(“SBA”) commercial
 
loans subject
 
to
credit
 
recourse
 
or
 
to
 
certain
 
representations
 
and
 
warranties
 
from
 
the
 
Corporation
 
to
 
the
 
purchaser.
 
These
 
representations
 
and
warranties may
 
relate, for
 
example, to
 
borrower creditworthiness,
 
loan documentation,
 
collateral,
 
prepayment and
 
early payment
defaults. The
 
Corporation may
 
be required
 
to
 
repurchase the
 
loans under
 
the credit
 
recourse agreements
 
or
 
representation and
warranties.
At March 31, 2026,
 
the Corporation serviced $
414
 
million (December 31, 2025
 
- $
429
 
million) in residential mortgage loans
 
subject
to credit recourse provisions, principally loans associated
 
with FNMA and FHLMC residential mortgage
 
loan securitization programs.
 
In the event of any customer default,
 
pursuant to the credit recourse provided, the Corporation is required
 
to repurchase the loan or
reimburse
 
the
 
third
 
party
 
investor
 
for
 
the
 
incurred loss.
 
The maximum
 
potential amount
 
of
 
future payments
 
that
 
the
 
Corporation
would be required
 
to make under
 
the recourse arrangements in
 
the event of
 
nonperformance by the
 
borrowers is equivalent to
 
the
total outstanding balance of the
 
residential mortgage loans serviced with recourse
 
and the interest, if applicable.
 
During the quarter
ended
 
March
 
31,
 
2026,
 
the
 
Corporation
 
repurchased
 
approximately
 
$
0.2
 
million
 
of
 
unpaid
 
principal
 
balance
 
in
 
mortgage
 
loans
subject
 
to
 
the
 
credit
 
recourse
 
provisions
 
(March
 
31,
 
2025
 
-
 
$
0.3
 
million).
 
In
 
the
 
event
 
of
 
nonperformance
 
by
 
the
 
borrower,
 
the
Corporation has
 
rights to
 
the
 
underlying collateral
 
securing the
 
mortgage loan.
 
The
 
Corporation suffers
 
ultimate losses
 
on these
loans when the proceeds from a foreclosure sale of the property underlying a defaulted mortgage loan are less than the outstanding
principal balance of the loan plus any uncollected interest advanced and the
 
costs of holding and disposing the related property.
 
At
March 31, 2026,
 
the Corporation’s liability
 
established to cover the
 
estimated credit loss
 
exposure related to loans
 
sold or serviced
with credit recourse amounted to $
2
 
million (December 31, 2025 - $
3
 
million).
From
 
time
 
to
 
time, the
 
Corporation sells
 
loans and
 
agrees to
 
indemnify the
 
purchaser for
 
credit
 
losses
 
or
 
any
 
breach
 
of
 
certain
representations and warranties made in connection
 
with the sale.
 
Servicing agreements
 
relating to
 
the mortgage-backed
 
securities programs
 
of FNMA,
 
FHLMC and
 
GNMA, and
 
to mortgage
 
loans
sold or serviced to certain other investors, including FHLMC,
 
require the Corporation to advance funds to
 
make scheduled payments
of principal,
 
interest, taxes
 
and insurance,
 
if such
 
payments have
 
not been
 
received from
 
the borrowers.
 
At March
 
31, 2026,
 
the
Corporation serviced $
8.0
 
billion in mortgage loans for third parties, including the loans serviced with credit recourse (December 31,
2025 - $
8.2
 
billion). The Corporation generally recovers funds advanced pursuant to these arrangements from
 
the mortgage owner,
from liquidation proceeds when the mortgage
 
loan is foreclosed or,
 
in the case of FHA/VA
 
loans, under the applicable FHA
 
and
VA
insurance
 
and guarantees
 
programs. However,
 
in the
 
meantime, the
 
Corporation must
 
absorb the
 
cost
 
of the
 
funds
 
it
 
advances
during the
 
time the
 
advance is
 
outstanding. The
 
Corporation must
 
also bear
 
the costs
 
of attempting
 
to collect
 
on delinquent
 
and
defaulted
 
mortgage
 
loans.
 
In
 
addition,
 
if
 
a
 
defaulted
 
loan
 
is
 
not
 
cured,
 
the
 
mortgage
 
loan
 
would
 
be
 
canceled
 
as
 
part
 
of
 
the
foreclosure proceedings and the
 
Corporation would not
 
receive any future servicing
 
income with respect
 
to that loan.
 
At March 31,
2026,
 
the
 
outstanding balance
 
of
 
funds
 
advanced
 
by
 
the
 
Corporation under
 
such
 
mortgage
 
loan servicing
 
agreements was
 
$
28
million
 
(December
 
31,
 
2025
 
-
 
$
30
 
million).
 
To
 
the
 
extent
 
the
 
mortgage
 
loans
 
underlying
 
the
 
Corporation’s
 
servicing
 
portfolio
experience
 
increased delinquencies,
 
the
 
Corporation would
 
be
 
required to
 
dedicate
 
additional cash
 
resources to
 
comply
 
with its
obligation to advance funds as well as incur additional
 
administrative costs related to increases in collection
 
efforts.
Popular,
 
Inc. Holding
 
Company (“PIHC”) fully
 
and unconditionally guarantees
 
certain borrowing
 
obligations issued by
 
certain of
 
its
100
%
 
owned
 
consolidated
 
subsidiaries
 
amounting
 
to
 
$
94
 
million
 
at
 
March
 
31,
 
2026
 
and
 
December
 
31,
 
2025,
 
respectively.
 
In
addition, at both March 31, 2026 and
 
December 31, 2025, PIHC fully and unconditionally guaranteed on
 
a subordinated basis $
193
million
 
of
 
capital
 
securities
 
(trust
 
preferred
 
securities)
 
issued
 
by
 
wholly-owned issuing
 
trust
 
entities to
 
the
 
extent
 
set
 
forth
 
in
 
the
applicable
 
guarantee
 
agreement.
 
Refer
 
to
 
Note
 
17
 
to
 
the
 
Consolidated Financial
 
Statements
 
in
 
the
 
2025
 
Form
 
10-K
 
for
 
further
information on the trust preferred securities.
77
Note 18 – Commitments and contingencies
Off-balance sheet risk
The Corporation
 
is a
 
party to
 
financial instruments
 
with off-balance
 
sheet credit
 
risk in
 
the normal
 
course of
 
business to
 
meet the
financial needs of its customers. These financial instruments
 
include loan commitments, letters of credit and standby
 
letters of credit.
These instruments involve,
 
to varying
 
degrees, elements of
 
credit and
 
interest rate
 
risk in
 
excess of
 
the amount
 
recognized in
 
the
Consolidated Statements of Financial Condition.
The
 
Corporation’s
 
exposure
 
to
 
credit
 
loss
 
in
 
the
 
event
 
of
 
nonperformance
 
by
 
the
 
other
 
party
 
to
 
the
 
financial
 
instrument
 
for
commitments to extend credit, standby
 
letters of credit and financial
 
guarantees is represented by the
 
contractual notional amounts
of those instruments. The
 
Corporation uses the same
 
credit policies in
 
making these commitments and conditional
 
obligations as it
does for those reflected on the Consolidated Statements
 
of Financial Condition.
Financial instruments with
 
off-balance sheet credit
 
risk, whose contract
 
amounts represent potential credit
 
risk as of
 
the end of
 
the
periods presented were as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2026
December 31, 2025
Commitments to extend credit:
Credit card lines
$
6,514,524
$
6,415,208
Commercial lines of credit
4,260,637
4,257,505
Construction lines of credit
1,139,056
1,197,319
Other consumer unused credit commitments
 
283,742
277,635
Commercial letters of credit
6,838
21,248
Standby letters of credit
97,235
111,554
Commitments to originate or fund mortgage loans
20,457
20,099
At March
 
31, 2026
 
and December 31,
 
2025, the
 
Corporation maintained a
 
reserve of
 
$
15
 
million and
 
$
14
 
million, respectively,
 
for
potential losses associated with unfunded loan commitments
 
related to commercial and construction lines of
 
credit.
Other commitments
At March
 
31, 2026
 
and December
 
31, 2025,
 
the Corporation
 
also maintained
 
other non-credit
 
commitments for
 
$
5
 
million and
 
$
7
million, respectively, primarily for the acquisition of other investments.
 
Business concentration
Since the Corporation’s business activities are concentrated primarily in Puerto Rico, its results of operations and financial condition
are dependent
 
upon the
 
general trends
 
of the
 
Puerto Rico
 
economy and,
 
in particular,
 
the residential
 
and commercial
 
real estate
markets. The concentration
 
of the Corporation’s
 
operations in Puerto Rico
 
exposes it to
 
greater risk than other
 
banking companies
with a wider geographic base. Its
 
asset and revenue composition by geographical area
 
is presented in Note 28
 
to the Consolidated
Financial Statements.
 
Puerto
 
Rico
 
has
 
faced
 
significant
 
fiscal
 
and
 
economic
 
challenges
 
for
 
over
 
a
 
decade.
 
In
 
response
 
to
 
such
 
challenges,
 
the
 
U.S.
Congress
 
enacted
 
PROMESA
 
in
 
2016,
 
which,
 
among
 
other
 
things,
 
established
 
the
 
Oversight
 
Board
 
and
 
a
 
framework
 
for
 
the
restructuring
 
of
 
the
 
debts
 
of
 
the
 
Commonwealth,
 
its
 
instrumentalities
 
and
 
municipalities.
 
The
 
Commonwealth
 
and
 
several
 
of
 
its
instrumentalities have
 
availed themselves
 
of debt
 
restructuring proceedings
 
under PROMESA.
 
As of
 
the date
 
of this
 
report, while
municipalities have been designated as covered entities under PROMESA, no municipality has commenced or has been authorized
by the Oversight Board to commence, any such debt
 
restructuring proceeding under PROMESA.
At
 
March 31,
 
2026, the
 
Corporation’s direct
 
exposure to
 
the Puerto
 
Rico
 
government and
 
its
 
instrumentalities and
 
municipalities
totaled
 
$
390
 
million,
 
of
 
which
 
$
340
 
million
 
were
 
outstanding
 
($
391
 
million
 
and
 
$
342
 
million
 
at
 
December
 
31,
 
2025).
 
Of
 
the
outstanding amount, $
333
 
million consists of loans and $
7
 
million are securities ($
333
 
million and $
9
 
million at December 31, 2025).
Substantially all
 
of the
 
amount outstanding
 
at March
 
31, 2026
 
and December
 
31, 2025
 
were obligations from
 
various Puerto
 
Rico
municipalities. In most cases, these were “general obligations” of a municipality, to which
 
the applicable municipality has pledged its
good
 
faith,
 
credit
 
and
 
unlimited taxing
 
power,
 
or
 
“special
 
obligations”
 
of
 
a
 
municipality,
 
to
 
which
 
the
 
applicable
 
municipality
 
has
pledged other revenues. At March 31, 2026, approximately
77
% of the Corporation’s exposure to municipal loans and securities
 
was
concentrated in
 
the municipalities
 
of San
 
Juan, Guaynabo,
 
Carolina and
 
Caguas. The
 
Corporation’s exposure
 
at March
 
31, 2026,
 
 
78
included
 
approximately $
47.4
 
million
 
in
 
Automated
 
Clearing House
 
(“ACH”) transaction
 
settlement exposure,
 
none
 
of
 
which was
outstanding.
The following table details the loans and investments representing the Corporation’s direct exposure to
 
the Puerto Rico government
according to their maturities as of March 31, 2026
:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Investment
Portfolio
Loans
Total Outstanding
Total Exposure
Central Government
Within 1 year
$
-
$
-
$
-
$
47,400
After 10 years
41
-
41
41
Total Central
 
Government
41
-
41
47,441
Municipalities
Within 1 year
2,720
11,574
14,294
16,294
After 1 to 5 years
3,910
166,515
170,425
170,425
After 5 to 10 years
450
124,087
124,537
124,537
After 10 years
-
30,991
30,991
30,991
Total Municipalities
7,080
333,167
340,247
342,247
Total Direct Government
 
Exposure
$
7,121
$
333,167
$
340,288
$
389,688
 
 
 
 
 
 
 
 
 
 
 
 
 
In addition, at March
 
31, 2026, the Corporation had
 
$
201
 
million in loans insured
 
or securities issued by
 
Puerto Rico governmental
entities but for
 
which the principal
 
source of
 
repayment is non-governmental
 
($
209
 
million at December
 
31, 2025). These
 
included
$
166
 
million
 
in
 
residential
 
mortgage
 
loans
 
insured
 
by
 
the
 
Puerto
 
Rico
 
Housing
 
Finance
 
Authority
 
(“HFA”),
 
a
 
governmental
instrumentality
 
that
 
has
 
been
 
designated
 
as
 
a
 
covered
 
entity
 
under
 
PROMESA
 
(December
 
31,
 
2025
 
-
 
$
167
 
million).
 
These
mortgage loans
 
are secured
 
by first
 
mortgages on
 
Puerto Rico
 
residential properties
 
and the
 
HFA
 
insurance covers
 
losses in
 
the
event of a
 
borrower default and upon the
 
satisfaction of certain other
 
conditions. The Corporation also
 
had at March
 
31, 2026, $
35
million in
 
bonds issued by
 
HFA which
 
are secured by
 
second mortgage loans
 
on Puerto Rico
 
residential properties, and
 
for which
HFA also provides
 
insurance to cover losses in the
 
event of a borrower default and
 
upon the satisfaction of certain other
 
conditions
(December 31,
 
2025 -
 
$
36
 
million). In
 
the event
 
that the
 
mortgage loans
 
insured by
 
HFA
 
and held
 
by the
 
Corporation directly
 
or
those serving
 
as collateral
 
for the
 
HFA
 
bonds default
 
and the
 
collateral is
 
insufficient to
 
satisfy the
 
outstanding balance
 
of these
loans,
 
HFA’s
 
ability
 
to
 
honor
 
its
 
insurance
 
will
 
depend, among
 
other factors,
 
on
 
the
 
financial
 
condition
 
of
 
HFA
 
at
 
the
 
time
 
such
obligations
 
become
 
due
 
and
 
payable. The
 
Corporation does
 
not consider
 
the
 
government guarantee
 
when
 
estimating the
 
credit
losses
 
associated
 
with
 
this
 
portfolio.
 
Although
 
the
 
Governor
 
is
 
currently
 
authorized
 
by
 
local
 
legislation
 
to
 
impose
 
a
 
temporary
moratorium on the financial obligations of the HFA, a moratorium on
 
such obligations has not been imposed as of
 
the date hereof.
 
BPPR’s
 
commercial loan
 
portfolio also
 
includes loans
 
to
 
private borrowers
 
who
 
are service
 
providers, lessors,
 
suppliers or
 
have
other relationships with the government. For example, at March 31, 2026 BPPR had
 
$
178.4
 
million ($
178.6
 
million at December 31,
2025) in
 
exposure
 
to
 
borrowers
 
that
 
are
 
independent
 
power
 
producers
 
that
 
generate
 
and
 
sell
 
energy
 
under
 
Power
 
Purchase
Agreements to the Puerto Rico
 
Electric Power Authority (“PREPA”),
 
which is undergoing a debt
 
restructuring process under Title
 
III
of PROMESA.
 
Borrowers with
 
exposure to
 
the government
 
could be
 
negatively affected
 
by the
 
Commonwealth’s fiscal
 
crisis and
the
 
ongoing
 
Title
 
III
 
proceedings
 
under
 
PROMESA.
 
Similarly,
 
BPPR’s
 
mortgage
 
and
 
consumer
 
loan
 
portfolios
 
include
 
loans
 
to
government
 
employees
 
and
 
retirees,
 
which
 
could
 
also
 
be
 
negatively
 
affected
 
by
 
fiscal
 
measures
 
such
 
as
 
employee
 
layoffs
 
or
furloughs or reductions in pension benefits.
 
In
 
addition,
 
$
2.6
 
billion
 
of
 
residential
 
mortgages
 
and
 
$
84.8
 
million
 
commercial
 
loans
 
were
 
insured
 
or
 
guaranteed
 
by
 
the
 
U.S.
Government or
 
its agencies
 
at March
 
31, 2026
 
(compared to
 
$
2.5
 
billion and
 
$
80.5
 
million, respectively,
 
at December
 
31, 2025).
The Corporation also had
 
U.S. Treasury and
 
obligations from the U.S.
 
Government, its agencies or
 
government sponsored entities
within the
 
portfolio of
 
available-for-sale and
 
held-to-maturity securities as
 
described in
 
Note 5
 
and 6
 
to the
 
Consolidated Financial
Statements.
At March
 
31, 2026,
 
the Corporation
 
had operations
 
in the
 
United States
 
Virgin Islands
 
(the “USVI”)
 
and had
 
$
28
 
million in
 
direct
exposure to USVI government
 
entities (December 31, 2025
 
- $
28
 
million). The USVI has
 
been experiencing a number of
 
fiscal and
economic challenges that could adversely affect the ability
 
of its public corporations and instrumentalities
 
to service their outstanding
79
debt
 
obligations.
 
PROMESA
 
does
 
not
 
apply
 
to
 
the
 
USVI
 
and,
 
as
 
such,
 
there
 
is
 
currently
 
no
 
federal
 
legislation
 
permitting
 
the
restructuring of the debts of the USVI and
 
its public corporations and instrumentalities.
At March 31, 2026, the Corporation had
 
operations in the British Virgin Islands (“BVI”)
 
and it had a loan portfolio amounting to
 
$
197
million comprised
 
of various
 
retail and
 
commercial clients,
 
compared to
 
a loan
 
portfolio of
 
$
195
 
million at
 
December 31,
 
2025. At
March 31, 2026, the Corporation had
no
 
significant exposure to a single borrower
 
in the BVI.
 
Legal Proceedings
The nature of Popular’s
 
business ordinarily generates claims, litigation, arbitration,
 
regulatory and governmental investigations, and
legal
 
and
 
administrative
 
cases
 
and
 
proceedings
 
(collectively,
 
“Legal
 
Proceedings”).
 
Popular’s
 
Legal
 
Proceedings
 
may
 
involve
various lines
 
of business
 
and include
 
claims relating
 
to contract,
 
torts, consumer
 
protection, securities,
 
antitrust, employment,
 
tax
and
 
other
 
laws.
 
The
 
recovery
 
sought
 
in
 
Legal
 
Proceedings
 
may
 
include
 
substantial
 
or
 
indeterminate
 
compensatory
 
damages,
punitive
 
damages,
 
injunctive
 
relief,
 
or
 
recovery
 
on
 
a
 
class-wide
 
basis.
 
When
 
the
 
Corporation
 
determines
 
that
 
it
 
has
 
meritorious
defenses to the claims
 
asserted, it vigorously defends
 
itself. The Corporation will
 
consider the settlement of
 
cases (including cases
where it has meritorious defenses) when, in management’s judgment,
 
it is in the best interest of the Corporation and
 
its stockholders
to do so.
 
On at least
 
a quarterly basis,
 
Popular assesses its
 
liabilities and contingencies
 
relating to outstanding Legal
 
Proceedings
utilizing the most current information available. For
 
matters where it is probable that the Corporation will
 
incur a material loss and the
amount can be reasonably estimated, the Corporation establishes an accrual for
 
the loss. Once established, the accrual is
 
adjusted
on at least a quarterly basis to reflect any relevant
 
developments, as appropriate. For matters where a material loss is not probable,
or the amount of the loss cannot be reasonably
 
estimated, no accrual is established.
In certain cases,
 
exposure to loss
 
exists in
 
excess of any
 
accrual to the
 
extent such loss
 
is reasonably possible,
 
but not
 
probable.
Management believes and
 
estimates that the
 
range of reasonably
 
possible losses (with
 
respect to those
 
matters where such
 
limits
may be determined in excess of amounts accrued) for current Legal Proceedings ranged from $
0
 
to approximately $
6.3
 
million as of
March 31,
 
2026. In
 
certain cases,
 
management cannot
 
reasonably estimate
 
the possible
 
loss at
 
this time.
 
Any estimate
 
involves
significant
 
judgment,
 
given
 
the
 
varying
 
stages
 
of
 
the
 
Legal
 
Proceedings
 
(including
 
the
 
fact
 
that
 
many
 
of
 
them
 
are
 
currently
 
in
preliminary stages), the existence of multiple defendants in several of the current Legal Proceedings whose share of liability has yet
to be
 
determined, the
 
numerous unresolved issues
 
in many
 
of the
 
Legal Proceedings,
 
and the
 
inherent uncertainty
 
of the
 
various
potential
 
outcomes
 
of
 
such
 
Legal
 
Proceedings.
 
Accordingly,
 
management’s
 
estimate
 
will
 
change
 
from
 
time-to-time,
 
and
 
actual
losses may be more or less than the current estimate.
While the
 
outcome of
 
Legal Proceedings
 
is inherently
 
uncertain, based
 
on information
 
currently available,
 
advice of
 
counsel, and
available
 
insurance
 
coverage,
 
management
 
believes
 
that
 
the
 
amount
 
it
 
has
 
already
 
accrued
 
is
 
adequate
 
and
 
any
 
incremental
liability arising from
 
the Legal Proceedings
 
in matters in
 
which a loss
 
amount can be
 
reasonably estimated will not
 
have a material
adverse effect
 
on the Corporation’s
 
consolidated financial position.
 
However, in
 
the event
 
of unexpected future
 
developments, it is
possible that
 
the ultimate
 
resolution of
 
these matters
 
in a
 
reporting period, if
 
unfavorable, could have
 
a material
 
adverse effect
 
on
the Corporation’s consolidated financial position for that period.
80
Note 19 – Non-consolidated variable interest
 
entities
 
 
 
The Corporation is involved with
two
 
statutory trusts which it created to issue trust preferred securities to the public. These
 
trusts are
deemed to
 
be variable
 
interest entities
 
(“VIEs”) since
 
the equity
 
investors at
 
risk have
 
no substantial
 
decision-making rights.
 
The
Corporation does not
 
hold any variable
 
interest in the
 
trusts, and therefore,
 
cannot be the
 
trusts’ primary beneficiary.
 
Furthermore,
the
 
Corporation concluded
 
that
 
it did
 
not
 
hold
 
a
 
controlling financial
 
interest
 
in
 
these
 
trusts
 
since the
 
decisions
 
of
 
the
 
trusts
 
are
predetermined through
 
the trust
 
documents and the
 
guarantee of
 
the trust
 
preferred securities is
 
irrelevant since
 
in substance
 
the
sponsor is guaranteeing its own debt.
Also, the
 
Corporation is
 
involved with
 
various special
 
purpose entities
 
mainly in
 
guaranteed mortgage
 
securitization transactions,
including
 
GNMA
 
and
 
FNMA.
The
 
Corporation
 
has
 
also
 
engaged
 
in
 
securitization
 
transactions
 
with
 
FHLMC,
 
but
 
considers
 
its
exposure
 
in
 
the
 
form
 
of
 
servicing
 
fees
 
and
 
servicing
 
advances
 
not
 
to
 
be
 
significant
at
 
March
 
31,
 
2026
.
These
 
special
 
purpose
entities
 
are
 
deemed
 
to
 
be
 
VIEs
 
since
 
they
 
lack
 
equity
 
investments
 
at
 
risk.
 
The
 
Corporation’s
 
continuing
 
involvement
 
in
 
these
guaranteed loan
 
securitizations includes
 
owning certain
 
beneficial interests in
 
the form
 
of securities as
 
well as
 
the servicing
 
rights
retained. The Corporation is not required to provide additional financial support to
 
any of the variable interest entities to which it has
transferred
 
the
 
financial
 
assets.
 
The
 
mortgage-backed
 
securities,
 
to
 
the
 
extent
 
retained,
 
are
 
classified
 
in
 
the
 
Consolidated
Statements
 
of
 
Financial
 
Condition
 
as
 
available-for-sale
 
or
 
trading
 
securities.
 
The
 
Corporation
 
concluded
 
that,
 
essentially,
 
these
entities (FNMA
 
and GNMA)
 
control the
 
design of
 
their respective
 
VIEs, dictate
 
the quality
 
and nature
 
of the
 
collateral, require
 
the
underlying insurance, set
 
the servicing standards
 
via the servicing
 
guides and can
 
change them at
 
will, and can
 
remove a primary
servicer with cause,
 
and without cause
 
in the
 
case of
 
FNMA. Moreover,
 
through their guarantee
 
obligations, agencies (FNMA
 
and
GNMA) have the obligation to absorb losses that
 
could be potentially significant to the VIE.
The
 
Corporation
 
holds
 
variable
 
interests
 
in
 
these
 
VIEs
 
in
 
the
 
form
 
of
 
agency
 
mortgage-backed
 
securities
 
and
 
collateralized
mortgage obligations, including those securities originated by the Corporation and those acquired from
 
third parties. Additionally, the
Corporation holds agency mortgage-backed securities
 
and agency collateralized mortgage obligations
 
issued by third party
 
VIEs in
which
 
it
 
has
 
no
 
other
 
form
 
of
 
continuing
 
involvement. Refer
 
to
 
Note
 
21
 
to
 
the
 
Consolidated
 
Financial
 
Statements
 
for
 
additional
information on the debt securities outstanding at March 31,
 
2026 and December 31, 2025, which are classified
 
as available-for-sale
and trading securities in
 
the Consolidated Statements of Financial Condition.
 
In addition, the Corporation holds
 
variable interests in
the form of servicing
 
fees, since it retains
 
the right to service
 
the transferred loans in
 
those government-sponsored special purpose
entities (“SPEs”)
 
and may
 
also purchase
 
the right
 
to service
 
loans in
 
other government-sponsored
 
SPEs that
 
were transferred
 
to
those SPEs by a third-party.
 
The following
 
table presents
 
the carrying
 
amount and
 
classification of
 
the assets
 
related to
 
the Corporation’s
 
variable interests
 
in
non-consolidated VIEs
 
and the
 
maximum exposure
 
to loss
 
as a
 
result of
 
the Corporation’s
 
involvement as
 
servicer of
 
GNMA and
FNMA loans at March 31, 2026 and December
 
31, 2025.
 
81
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2026
December 31, 2025
Assets
Servicing assets:
Mortgage servicing rights
$
73,947
$
74,236
Total servicing
 
assets
 
$
73,947
$
74,236
Other assets:
Servicing advances
$
3,456
$
3,385
Total other assets
$
3,456
$
3,385
Total assets
$
77,403
$
77,621
Maximum exposure to loss
$
77,403
$
77,621
The size of
 
the non-consolidated VIEs,
 
in which the
 
Corporation has a
 
variable interest in
 
the form
 
of servicing fees,
 
measured as
the total unpaid principal balance of the loans, amounted
 
to $
5.9
 
billion at March 31, 2026 (December 31, 2025 - $
6.0
 
billion).
The Corporation
 
determined that
 
the maximum
 
exposure to
 
loss includes
 
the fair
 
value of
 
the MSRs
 
and the
 
assumption that
 
the
servicing advances at March
 
31, 2026 and December
 
31, 2025, will not
 
be recovered. The agency
 
debt securities are not
 
included
as part of the maximum exposure to loss since
 
they are guaranteed by the related agencies.
ASU 2009-17 requires that an ongoing primary beneficiary assessment should be made to determine whether the Corporation is the
primary beneficiary of any of the VIEs it is
 
involved with. The conclusion on the assessment of these non-consolidated VIEs has not
changed
 
since
 
their
 
initial
 
evaluation.
 
The
 
Corporation
 
concluded
 
that
 
it
 
is
 
still
 
not
 
the
 
primary
 
beneficiary
 
of
 
these
 
VIEs,
 
and
therefore, these VIEs are not required to be consolidated
 
in the Corporation’s financial statements at March 31,
 
2026.
82
Note 20 – Related party transactions
 
Centro Financiero BHD, S.A.
At March 31, 2026, the Corporation had a
15.63
% equity interest in Centro Financiero BHD, S.A. (“BHD”),
 
one of the largest banking
and financial services groups in the Dominican Republic. During the quarter ended March 31, 2026, the Corporation recorded $
17.6
million in equity pickup (March 31, 2025 - $
1.0
 
million), including the net impact of $
13.0
 
million from net earnings (March 31, 2025 -
$
8.7
 
million), coupled
 
with $
4.6
 
million recorded
 
through other
 
comprehensive income
 
(March 31,
 
2025 -
 
($
9.7
) million)
 
related to
foreign
 
currency
 
translation
 
adjustments
 
and
 
changes
 
in
 
the
 
fair
 
value
 
of
 
available
 
for
 
sale
 
securities.
 
At
 
March
 
31,
 
2026,
 
the
investment
 
in BHD
 
had
 
a
 
carrying amount
 
of
 
$
267.0
 
million
 
(December 31,
 
2025
 
-
 
$
249.4
 
million)
 
and
 
there
 
were
no
 
dividends
received by the Corporation during the quarters ended
 
March 31, 2026 and 2025.
83
Note 21 – Fair value measurement
 
ASC Subtopic
 
820-10 “Fair
 
Value
 
Measurements and
 
Disclosures” establishes
 
a fair
 
value hierarchy
 
that prioritizes
 
the inputs
 
to
valuation techniques
 
used to
 
measure fair
 
value into
 
three levels
 
in order
 
to increase
 
consistency and
 
comparability in
 
fair value
measurements and disclosures. The hierarchy is broken
 
down into three levels based on the reliability
 
of inputs as follows:
●
Level 1
- Unadjusted quoted prices in active markets for identical assets or liabilities that the Corporation has the ability to
access at
 
the measurement date.
 
Valuation
 
on these
 
instruments does not
 
necessitate a
 
significant degree of
 
judgment
since valuations are based on quoted prices that
 
are readily available in an active market.
●
Level 2
- Quoted prices other than those included in Level 1 that are observable either directly or indirectly.
 
Level 2 inputs
include
 
quoted
 
prices
 
for
 
similar
 
assets
 
or
 
liabilities
 
in
 
active
 
markets,
 
quoted
 
prices
 
for
 
identical
 
or
 
similar
 
assets
 
or
liabilities in
 
markets that
 
are
 
not active,
 
or other
 
inputs that
 
are
 
observable or
 
that can
 
be corroborated
 
by
 
observable
market data for substantially the full term of the
 
financial instrument.
●
Level
 
3
-
 
Inputs
 
are
 
unobservable
 
and
 
significant
 
to
 
the
 
fair
 
value
 
measurement.
 
Unobservable
 
inputs
 
reflect
 
the
Corporation’s own judgements about assumptions that
 
market participants would use in pricing the asset
 
or liability.
The
 
Corporation
 
maximizes
 
the
 
use
 
of
 
observable
 
inputs
 
and
 
minimizes
 
the
 
use
 
of
 
unobservable
 
inputs
 
by
 
requiring
 
that
 
the
observable inputs be used when
 
available. Fair value is
 
based upon quoted market prices
 
when available. If listed prices
 
or quotes
are
 
not
 
available,
 
the
 
Corporation
 
employs
 
internally-developed
 
models
 
that
 
primarily
 
use
 
market-based
 
inputs
 
including
 
yield
curves, interest rates,
 
volatilities, and credit
 
curves, among others.
 
Valuation
 
adjustments are limited
 
to those necessary
 
to ensure
that the financial instrument’s
 
fair value is adequately representative of
 
the price that would
 
be received or paid
 
in the marketplace.
These adjustments include amounts that reflect counterparty credit quality,
 
the Corporation’s credit standing, constraints on liquidity
and unobservable parameters that are applied consistently.
 
There have been no changes in the
 
Corporation’s methodologies used
to estimate the fair value of assets and liabilities from
 
those disclosed in the 2025 Form 10-K.
The estimated fair
 
value may
 
be subjective in
 
nature and may
 
involve uncertainties and
 
matters of
 
significant judgment for
 
certain
financial instruments. Changes in the underlying assumptions
 
used in calculating fair value could significantly
 
affect the results.
Fair Value on a Recurring and Nonrecurring Basis
The following fair value hierarchy tables
 
present information about the Corporation’s assets
 
and liabilities measured at fair value
 
on
a recurring basis at March 31, 2026 and December
 
31, 2025:
 
 
84
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At March 31, 2026
(In thousands)
Level 1
Level 2
Level 3
Measured at NAV
Total
RECURRING FAIR VALUE
 
MEASUREMENTS
Assets
 
 
 
 
 
 
Debt securities available-for-sale:
U.S. Treasury securities
$
6,996,073
$
10,041,968
$
-
$
-
$
17,038,041
Collateralized mortgage obligations - federal
agencies
-
95,122
-
-
95,122
Mortgage-backed securities
-
4,598,973
383
-
4,599,356
Other
-
-
750
-
750
Total debt securities
 
available-for-sale
$
6,996,073
$
14,736,063
$
1,133
$
-
$
21,733,269
Trading account debt securities, excluding
derivatives:
U.S. Treasury securities
$
3,790
$
350
$
-
$
-
$
4,140
Obligations of Puerto Rico, States and political
subdivisions
-
44
-
-
44
Collateralized mortgage obligations
-
550
-
-
550
Mortgage-backed securities
-
25,496
85
-
25,581
Other
-
-
95
-
95
Total trading account
 
debt securities, excluding
derivatives
$
3,790
$
26,440
$
180
$
-
$
30,410
Equity securities
$
-
$
51,198
$
-
$
1,135
$
52,333
Mortgage servicing rights
-
-
94,232
-
94,232
Loans held-for-sale
-
5,603
-
-
5,603
Derivatives
 
-
23,956
-
-
23,956
Total assets measured
 
at fair value on a
recurring basis
$
6,999,863
$
14,843,260
$
95,545
$
1,135
$
21,939,803
Liabilities
Derivatives
$
-
$
(22,820)
$
-
$
-
$
(22,820)
Total liabilities measured
 
at fair value on a
recurring basis
$
-
$
(22,820)
$
-
$
-
$
(22,820)
 
 
 
85
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2025
(In thousands)
Level 1
Level 2
Level 3
Measured at NAV
Total
RECURRING FAIR VALUE
 
MEASUREMENTS
Assets
 
 
 
 
 
Debt securities available-for-sale:
U.S. Treasury securities
$
6,576,313
$
9,147,141
$
-
$
-
$
15,723,454
Collateralized mortgage obligations - federal
agencies
-
100,241
-
-
100,241
Mortgage-backed securities
-
4,750,122
405
-
4,750,527
Other
-
-
750
-
750
Total debt securities
 
available-for-sale
$
6,576,313
$
13,997,504
$
1,155
$
-
$
20,574,972
Trading account debt securities, excluding
derivatives:
U.S. Treasury securities
$
12,450
$
10
$
-
$
-
$
12,460
Obligations of Puerto Rico, States and political
subdivisions
-
45
-
-
45
Collateralized mortgage obligations
-
567
-
-
567
Mortgage-backed securities
-
23,314
84
-
23,398
Other
-
-
99
-
99
Total trading account
 
debt securities, excluding
derivatives
$
12,450
$
23,936
$
183
$
-
$
36,569
Equity securities
$
-
$
50,632
$
-
$
852
$
51,484
Mortgage servicing rights
-
-
96,356
-
96,356
Loans held-for-sale
-
9,998
-
-
9,998
Derivatives
 
-
27,913
-
-
27,913
Total assets measured
 
at fair value on a
recurring basis
$
6,588,763
$
14,109,983
$
97,694
$
852
$
20,797,292
Liabilities
 
 
 
Derivatives
$
-
$
(25,740)
$
-
$
-
$
(25,740)
Total liabilities measured
 
at fair value on a
recurring basis
$
-
$
(25,740)
$
-
$
-
$
(25,740)
Loans held-for-sale measured at fair value
 
Loans held-for-sale measured at fair value were priced
 
based on secondary market prices. These loans
 
are classified as Level 2.
The
 
following
 
tables summarize
 
the difference
 
between the
 
aggregate fair
 
value
 
and the
 
aggregate unpaid
 
principal
 
balance
 
for
mortgage loans originated as held-for-sale measured
 
at fair value as of March 31, 2026 and December
 
31, 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2026
Aggregate Unpaid
Fair Value
Principal Balance
Difference
Loans held for sale
$
5,603
$
5,586
$
17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
December 31, 2025
Aggregate Unpaid
Fair Value
Principal Balance
Difference
Loans held for sale
$
9,998
$
9,839
$
159
No
 
loans held-for-sale were 90 or more days past
 
due or on nonaccrual status as of March 31,
 
2026 and December 31, 2025.
 
 
86
The fair value information included in the following
 
tables is not as of period end, but as
 
of the date that the fair value measurement
was recorded during the quarters ended March 31,
 
2026 and 2025 and excludes nonrecurring
 
fair value measurements of assets no
longer outstanding as of the reporting date.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended March 31, 2026
(In thousands)
Level 1
Level 2
Level 3
Total
NONRECURRING FAIR VALUE
 
MEASUREMENTS
Assets
 
 
 
 
 
Write-downs
Loans
[1]
-
-
23,568
23,568
(541)
Other real estate owned
[2]
$
-
$
-
$
2,052
$
2,052
$
(258)
Other foreclosed assets
[2]
-
-
228
228
(60)
Total assets measured
 
at fair value on a nonrecurring basis
$
-
$
-
$
25,848
$
25,848
$
(859)
[1] Relates mainly to certain impaired collateral dependent loans.
 
The impairment was measured based on the fair value
 
of the collateral, which is
derived from appraisals that take into consideration prices
 
in observed transactions involving similar assets in similar
 
locations. Costs to sell are
excluded from the reported fair value amount.
[2] Represents the fair value of foreclosed real estate and
 
other collateral owned that were written down to their fair
 
value. Costs to sell are
excluded from the reported fair value amount.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended March 31, 2025
(In thousands)
Level 1
Level 2
Level 3
Total
NONRECURRING FAIR VALUE
 
MEASUREMENTS
Assets
 
 
 
 
 
Write-downs
Loans
[1]
$
-
$
-
$
4,167
$
4,167
$
(362)
Other real estate owned
[2]
-
-
2,018
2,018
(485)
Other foreclosed assets
[2]
-
-
133
133
(76)
Total assets measured
 
at fair value on a nonrecurring basis
$
-
$
-
$
6,318
$
6,318
$
(923)
[1] Relates mainly to certain impaired collateral dependent loans.
 
The impairment was measured based on the fair value
 
of the collateral, which is
derived from appraisals that take into consideration prices
 
in observed transactions involving similar assets in similar
 
locations. Costs to sell are
excluded from the reported fair value amount.
[2] Represents the fair value of foreclosed real estate and
 
other collateral owned that were written down to their fair
 
value. Costs to sell are
excluded from the reported fair value amount.
The following tables present the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarters
ended March 31, 2026 and 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended March 31, 2026
MBS
Other
MBS
Other
classified
securities
classified
securities
as debt
classified as
 
as trading
classified
securities
 
debt securities
account
as trading
Mortgage
available-
available-
 
debt
account debt
servicing
Total
(In thousands)
for-sale
for-sale
securities
securities
rights
assets
Balance at December 31, 2025
$
405
$
750
$
84
$
99
$
96,356
$
97,694
Gains (losses) included in earnings
-
-
1
(4)
(2,639)
(2,642)
Gains (losses) included in OCI
3
-
-
-
-
3
Additions
-
-
-
-
515
515
Settlements
(25)
-
-
-
-
(25)
Balance at March 31, 2026
$
383
$
750
$
85
$
95
$
94,232
$
95,545
Changes in unrealized gains (losses) included in
earnings relating to assets still held at March 31,
2026
$
-
$
-
$
-
$
-
$
(472)
$
(472)
 
 
87
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended March 31, 2025
MBS
Other
Other
classified
securities
MBS
securities
as debt
classified as
classified
classified
securities
debt securities
as trading
as trading
Mortgage
available-
available-
account debt
account debt
servicing
Total
(In thousands)
for-sale
for-sale
securities
securities
rights
assets
Balance at December 31, 2024
$
484
$
2,250
$
84
$
133
$
108,103
$
111,054
Gains (losses) included in earnings
-
-
-
(6)
(3,570)
(3,576)
Gains (losses) included in OCI
(2)
-
-
-
-
(2)
Additions
-
-
-
-
210
210
Settlements
(25)
-
-
-
-
(25)
Transfers out of Level 3
-
(1,500)
-
-
-
(1,500)
Balance at March 31, 2025
$
457
$
750
$
84
$
127
$
104,743
$
106,161
Changes in unrealized gains (losses) included in
earnings relating to assets still held at March 31,
2025
$
-
$
-
$
-
$
9
$
(1,325)
$
(1,316)
Gains and losses (realized and unrealized) included in earnings for the quarters ended March 31, 2026 and 2025
 
for Level 3 assets
and liabilities included in the previous tables
 
are reported in the consolidated statements of
 
operations as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended March 31, 2026
Quarter ended March 31, 2025
Changes in unrealized
Changes in unrealized
Total gains
gains (losses) relating to
Total gains
gains (losses) relating to
(losses) included
assets still held at
(losses) included
assets still held at
(In thousands)
in earnings
reporting date
in earnings
reporting date
Mortgage banking activities
$
(2,639)
$
(472)
$
(3,570)
$
(1,325)
Trading account (loss) profit
(3)
-
(6)
9
Total
 
$
(2,642)
$
(472)
$
(3,576)
$
(1,316)
The following
 
tables include
 
quantitative information
 
about significant
 
unobservable inputs
 
used to
 
derive the
 
fair value
 
of Level
 
3
instruments, excluding those instruments
 
for which the
 
unobservable inputs were not
 
developed by the
 
Corporation such as
 
prices
of prior transactions and/or unadjusted third-party pricing
 
sources at March 31, 2026 and 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value at
 
March 31,
(In thousands)
2026
Valuation technique
Unobservable inputs
Weighted average (range) [1]
Other - trading
$
95
Discounted cash flow model
Weighted average life
2
 
years
Yield
12
.0%
Prepayment speed
10.8
%
Loans held-in-portfolio
$
23,568
[2]
External appraisal
Haircut applied on
external appraisals
35.4
% (
5.0
 
-
5.0
%)
[1]
 
Weighted average of significant unobservable inputs
 
used to develop Level 3 fair value measurements
 
were calculated by relative fair value.
[2]
Loans held-in-portfolio in which haircuts were not applied
 
to external appraisals were excluded from this table.
 
 
88
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value at
 
March 31,
(In thousands)
2025
Valuation technique
Unobservable inputs
Weighted average (range) [1]
Other - trading
$
127
Discounted cash flow model
Weighted average life
2
 
years
Yield
12
.0%
Prepayment speed
10.8
%
Loans held-in-portfolio
$
4,167
[2]
External appraisal
Haircut applied on
external appraisals
7.5
% (
5.0
.0% -
10.0
.0%)
[1]
 
Weighted average of significant unobservable inputs
 
used to develop Level 3 fair value measurements
 
were calculated by relative fair value.
[2]
Loans held-in-portfolio in which haircuts were not applied
 
to external appraisals were excluded from this table.
 
89
Note 22 – Fair value of financial instruments
The fair
 
value of
 
financial instruments
 
is the
 
amount at
 
which an
 
asset or
 
obligation could
 
be exchanged
 
in a
 
current transaction
between
 
willing
 
parties,
 
other
 
than
 
in
 
a
 
forced
 
or
 
liquidation
 
sale.
 
For
 
those
 
financial
 
instruments
 
with
 
no
 
quoted
 
market
 
prices
available, fair values have been estimated using present
 
value calculations or other valuation techniques, as well
 
as management’s
best judgment with respect to current economic conditions, including discount rates, estimates of future cash flows, and prepayment
assumptions. Many of these
 
estimates involve various assumptions and
 
may vary significantly from
 
amounts that could be
 
realized
in actual transactions.
The fair values
 
reflected herein have been
 
determined based on the
 
prevailing rate environment at
 
March 31, 2026
 
and December
31, 2025, as applicable. In different interest rate environments,
 
fair value estimates can differ significantly, especially for certain fixed
rate
 
financial
 
instruments.
 
In
 
addition,
 
the
 
fair
 
values
 
presented
 
do
 
not
 
attempt
 
to
 
estimate
 
the
 
value
 
of
 
the
 
Corporation’s
 
fee
generating businesses
 
and anticipated
 
future business
 
activities, that
 
is, they
 
do not
 
represent the
 
Corporation’s value
 
as a
 
going
concern. There have been
 
no changes in the
 
Corporation’s valuation methodologies and inputs
 
used to estimate the
 
fair values for
each class of financial assets and liabilities not measured
 
at fair value.
The following tables present the
 
carrying amount and estimated fair
 
values of financial instruments with their
 
corresponding level in
the fair
 
value hierarchy.
 
The aggregate
 
fair value
 
amounts of
 
the financial
 
instruments disclosed
 
do not
 
represent management’s
estimate of the underlying value of the Corporation.
 
90
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
Carrying
 
Measured
(In thousands)
amount
Level 1
Level 2
Level 3
at NAV
Fair value
 
Financial Assets:
Cash and due from banks
$
384,922
$
384,922
$
-
$
-
$
-
$
384,922
Money market investments
4,655,699
4,645,897
9,802
-
-
4,655,699
Trading account debt securities, excluding
 
derivatives
[1]
30,410
3,790
26,440
180
-
30,410
Debt securities available-for-sale
[1]
21,733,269
6,996,073
14,736,063
1,133
-
21,733,269
Debt securities held-to-maturity:
U.S. Treasury securities
$
6,913,002
$
-
$
6,918,757
$
-
$
-
$
6,918,757
Obligations of Puerto Rico, States and political
subdivisions
36,306
-
-
37,205
-
37,205
Collateralized mortgage obligation-federal agency
1,491
-
1,301
-
-
1,301
Securities in wholly owned statutory business trusts
5,960
-
5,960
-
-
5,960
Total debt securities
 
held-to-maturity
$
6,956,759
$
-
$
6,926,018
$
37,205
$
-
$
6,963,223
Equity securities:
FHLB stock
$
53,796
$
-
$
53,796
$
-
$
-
$
53,796
FRB stock
103,759
-
103,759
-
-
103,759
Other investments
59,611
-
51,198
7,808
1,135
60,141
Total equity securities
$
217,166
$
-
$
208,753
$
7,808
$
1,135
$
217,696
Loans held-for-sale
$
5,603
$
-
$
5,603
$
-
$
-
$
5,603
Loans held-in-portfolio
38,465,973
-
-
37,793,368
-
37,793,368
Mortgage servicing rights
94,232
-
-
94,232
-
94,232
Derivatives
23,956
-
23,956
-
-
23,956
March 31, 2026
Carrying
 
Measured
(In thousands)
amount
Level 1
Level 2
Level 3
at NAV
Fair value
 
Financial Liabilities:
Deposits:
Demand deposits
$
57,865,386
$
-
$
57,865,386
$
-
$
-
$
57,865,386
Time deposits
9,745,930
-
9,528,676
-
-
9,528,676
Total deposits
$
67,611,316
$
-
$
67,394,062
$
-
$
-
$
67,394,062
Assets sold under agreements to repurchase
$
34,576
$
-
$
34,580
$
-
$
-
$
34,580
Other short-term borrowings
[2]
350,000
-
350,000
-
-
350,000
Notes payable:
FHLB advances
$
139,620
$
-
$
138,189
$
-
$
-
$
138,189
Unsecured senior debt securities
396,955
-
418,624
-
-
418,624
Junior subordinated deferrable interest debentures
(related to trust preferred securities)
198,406
-
199,020
-
-
199,020
Total notes payable
$
734,981
$
-
$
755,833
$
-
$
-
$
755,833
Derivatives
$
22,820
$
-
$
22,820
$
-
$
-
$
22,820
[1]
Refer to Note 21 to the Consolidated Financial Statements
 
for the fair value by class of financial asset and its hierarchy
 
level.
[2]
Refer to Note 13 to the Consolidated Financial Statements
 
for the composition of other short-term borrowings.
 
 
91
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2025
Carrying
 
Measured
(In thousands)
amount
Level 1
Level 2
Level 3
at NAV
Fair value
 
Financial Assets:
Cash and due from banks
$
402,755
$
402,755
$
-
$
-
$
-
$
402,755
Money market investments
4,626,506
4,616,272
10,234
-
-
4,626,506
Trading account debt securities, excluding
 
derivatives
[1]
36,569
12,450
23,936
183
-
36,569
Debt securities available-for-sale
[1]
20,574,972
6,576,313
13,997,504
1,155
-
20,574,972
Debt securities held-to-maturity:
U.S. Treasury securities
$
7,268,967
$
-
$
7,309,991
$
-
$
-
$
7,309,991
Obligations of Puerto Rico, States and political
subdivisions
45,295
-
6,766
39,564
-
46,330
Collateralized mortgage obligation-federal agency
1,495
-
1,306
-
-
1,306
Securities in wholly owned statutory business trusts
5,960
-
5,960
-
-
5,960
Total debt securities
 
held-to-maturity
$
7,321,717
$
-
$
7,324,023
$
39,564
$
-
$
7,363,587
Equity securities:
FHLB stock
$
68,422
$
-
$
68,422
$
-
$
-
$
68,422
FRB stock
102,665
-
102,665
-
-
102,665
Other investments
58,761
-
50,632
7,817
852
59,301
Total equity securities
$
229,848
$
-
$
221,719
$
7,817
$
852
$
230,388
Loans held-for-sale
$
9,998
$
-
$
9,998
$
-
$
-
$
9,998
Loans held-in-portfolio
38,519,462
-
-
37,858,044
-
37,858,044
Mortgage servicing rights
96,356
-
-
96,356
-
96,356
Derivatives
27,913
-
27,913
-
-
27,913
December 31, 2025
Carrying
 
Measured
(In thousands)
amount
Level 1
Level 2
Level 3
at NAV
Fair value
 
Financial Liabilities:
Deposits:
Demand deposits
$
56,710,732
$
-
$
56,710,732
$
-
$
-
$
56,710,732
Time deposits
9,479,361
-
9,305,980
-
-
9,305,980
Total deposits
$
66,190,093
$
-
$
66,016,712
$
-
$
-
$
66,016,712
Assets sold under agreements to repurchase
$
39,001
$
-
$
39,004
$
-
$
-
$
39,004
Other short-term borrowings
[2]
650,000
-
650,000
-
-
650,000
Notes payable:
FHLB advances
$
164,620
$
-
$
163,417
$
-
$
-
$
163,417
Unsecured senior debt securities
396,558
-
419,300
-
-
419,300
Junior subordinated deferrable interest debentures
(related to trust preferred securities)
198,399
-
191,909
-
-
191,909
Total notes payable
$
759,577
$
-
$
774,626
$
-
$
-
$
774,626
Derivatives
$
25,740
$
-
$
25,740
$
-
$
-
$
25,740
[1]
Refer to Note 21 to the Consolidated Financial Statements
 
for the fair value by class of financial asset and its hierarchy
 
level.
 
[2]
Refer to Note 13 to the Consolidated Financial Statements
 
for the composition of other short-term borrowings.
 
Refer
 
to
 
Note
 
18
 
to
 
the
 
Consolidated
 
Financial
 
Statements
 
for
 
the
 
notional
 
amount
 
of
 
commitments
 
to
 
extend
 
credit,
 
which
represents the unused portion of
 
credit facilities granted to customers,
 
and letters of credit,
 
which represent the contractual amount
that
 
is
 
required
 
to
 
be
 
paid
 
in
 
the
 
event
 
of
 
nonperformance,
 
at
 
March
 
31,
 
2026
 
and
 
December
 
31,
 
2025.
 
The
 
fair
 
value
 
of
commitments to
 
extend credit
 
and letters
 
of credit,
 
which are
 
based on
 
the fees
 
charged to
 
enter into
 
those agreements,
 
are not
material to Popular’s financial statements.
 
 
92
Note 23 – Net income per common share
The following table
 
sets forth the
 
computation of net
 
income per common
 
share (“EPS”), basic
 
and diluted, for
 
the quarters
 
ended
March 31, 2026 and 2025:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarters ended March 31,
(In thousands, except per share information)
2026
2025
Net income
$
245,674
$
177,502
Preferred stock dividends
(353)
(353)
Net income applicable to common stock
$
245,321
$
177,149
Average common shares outstanding
64,818,440
69,280,137
Average potential dilutive common shares
 
39,168
27,544
Average common shares outstanding - assuming dilution
64,857,608
69,307,681
Basic EPS
$
3.78
$
2.56
Diluted EPS
$
3.78
$
2.56
For the quarters
 
ended March 31, 2026 and
 
2025, the Corporation calculated the impact
 
of potential dilutive common shares under
the
 
treasury
 
stock
 
method,
 
consistent
 
with
 
the
 
method
 
used
 
for
 
the
 
preparation
 
of
 
the
 
financial
 
statements
 
for
 
the
 
year
 
ended
December
 
31,
 
2025.
 
For
 
a
 
discussion
 
of
 
the
 
calculation
 
under
 
the
 
treasury
 
stock
 
method,
 
refer
 
to
 
Note
 
30
 
of
 
the
 
Consolidated
Financial Statements included in the 2025 Form 10-K.
93
Note 24 – Revenue from contracts with customers
The
 
following
 
table
 
presents
 
the
 
Corporation’s
 
revenue
 
streams
 
from
 
contracts
 
with
 
customers
 
by
 
reportable
 
segment
 
for
 
the
quarters ended March 31, 2026 and 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarters ended March 31,
(In thousands)
2026
2025
BPPR
Popular U.S.
BPPR
Popular U.S.
Service charges on deposit accounts
$
36,061
$
2,705
$
36,456
$
2,598
Other service fees:
Debit card fees
 
29,785
224
26,234
198
Insurance fees, excluding reinsurance
7,920
2,691
7,681
1,687
Credit card fees, excluding late fees and membership
 
fees
 
27,186
347
25,385
405
Sale and administration of investment products
10,187
-
8,973
-
Trust fees
7,748
-
6,631
-
Total revenue from
 
contracts with customers
[1]
$
118,887
$
5,967
$
111,360
$
4,888
[1] The amounts include intersegment transactions of $
0.5
 
million and $
0.6
 
million, respectively, for the
 
quarters ended March 31, 2026 and 2025.
Revenue from contracts with
 
customers is recognized when,
 
or as, the performance
 
obligations are satisfied by
 
the Corporation by
transferring the promised services to the customers based on ASC 606 Revenue
 
from Contracts with Customers. Revenue streams
identified from contracts with customers, as
 
listed above, will have certain timing for
 
recognition based on the nature of
 
the contract
including when
 
the obligation is
 
satisfied and/or services
 
are rendered. Service
 
charges on
 
deposit accounts, debit
 
card fees,
 
and
credit card
 
fees are
 
recognized at
 
a point
 
in time,
 
upon the
 
occurrence of
 
an activity
 
or an
 
event. Interchange
 
fees on
 
debit and
credit
 
card
 
transactions
 
are
 
recognized upon
 
settlement
 
of
 
the
 
payment
 
transaction. For
 
more
 
details
 
over
 
nature
 
and
 
timing
 
of
revenue streams from contracts with customers refer to Note 31 on the
 
2025 Form 10-K for a complete description of the nature and
timing of revenue streams from contracts with customers.
94
Note 25 - Stock-based compensation
On May 12,
 
2020, the stockholders of
 
the Corporation approved the
 
Popular, Inc.
 
2020 Omnibus Incentive Plan,
 
which permits the
Corporation to
 
issue several
 
types of
 
stock-based compensation
 
to employees
 
and directors
 
of the
 
Corporation and/or
 
any of
 
its
subsidiaries (the
 
“2020 Incentive
 
Plan”). The
 
2020 Incentive
 
Plan replaced
 
the Popular,
 
Inc. 2004
 
Omnibus Incentive
 
Plan, which
was in effect
 
prior to the adoption of
 
the 2020 Incentive Plan (the
 
“2004 Incentive Plan” and, together
 
with the 2020 Incentive
 
Plan,
the “Incentive Plan”). Participants under the Incentive Plan are designated by the Talent and Compensation Committee of the Board
of Directors (or its delegate, as determined by the Board). Under the Incentive Plan, the Corporation has issued restricted stock and
performance shares to its employees and restricted
 
stock and restricted stock units (“RSUs”)
 
to its directors.
 
The restricted
 
stock granted
 
under the
 
Incentive Plan
 
to employees
 
becomes vested
 
based on
 
the employees’
 
continued service
with
 
Popular.
Unless otherwise stated in an agreement, the compensation cost associated with the shares of restricted stock
granted prior to 2021 was determined based on a two-prong vesting schedule. These grants include ratable vesting over five or four
years commencing at the date of grant (the “graduated vesting portion”) with a portion vested at termination of employment after
attainment of 55 years of age and 10 years of service or 60 years of age and 5 years of service (“the retirement vesting portion”).
The graduated vesting portion is accelerated at termination of employment after attaining the earlier of 55 years of age and 10 years
of service or 60 years of age and 5 years of service. Restricted stock granted on or after 2021 have ratable vesting in equal annual
installments over a period of 4 years or 3 years, depending on the classification of the employee. The vesting schedule is
accelerated at termination of employment after attaining the earlier of 55 years of age and 10 years of service or 60 years of age
and 5 years of service.
 
The
 
performance share
 
awards
 
granted
 
under
 
the
 
Incentive
 
Plan
 
consist
 
of
 
the
 
opportunity
 
to
 
receive
 
shares
 
of
 
Popular,
 
Inc.’s
common stock provided that the Corporation achieves certain goals during a three-year performance cycle.
 
The goals will be based
on
 
two
 
metrics
 
weighted
 
equally:
 
the
 
Relative
 
Total
 
Shareholder
 
Return
 
(“TSR”)
 
and
 
the
 
Absolute
 
Return
 
on
 
Average
 
Tangible
Common Equity
 
(“ROATCE”).
 
The TSR metric
 
is considered to
 
be a
 
market condition under
 
ASC 718.
 
For equity settled
 
awards
based
 
on a
 
market condition,
 
the
 
fair value
 
is
 
determined as
 
of the
 
grant date
 
and
 
is not
 
subsequently revised
 
based on
 
actual
performance.
 
The ROATCE
 
metric is considered to
 
be a performance condition
 
under ASC 718.
 
For equity settled
 
awards based
on
 
a
 
performance
 
condition,
 
the
 
fair
 
value
 
is
 
determined
 
based
 
on
 
the
 
probability
 
of
 
achieving
 
the
 
ROATCE
 
goal
 
as
 
of
 
each
reporting period.
 
The TSR
 
and ROATCE
 
metrics are
 
equally weighted
 
and work
 
independently.
 
The number of shares that will
ultimately vest ranges from 50% to a 150% of target based on both market (TSR) and performance (ROATCE) conditions. The
performance shares vest at the end of the three-year performance cycle. If a participant terminates employment after attaining the
earlier of 55 years of age and 10 years of service or 60 years of age and 5 years of service, the performance shares shall continue
outstanding and vest at the end of the performance cycle.
The
 
following
 
table
 
summarizes
 
the
 
restricted
 
stock
 
and
 
performance
 
shares
 
activity
 
under
 
the
 
Incentive
 
Plan
 
for
 
members
 
of
management and employees.
 
 
95
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Not in thousands)
Shares
Weighted-Average
Grant Date Fair
Value
Non-vested at December 31, 2024
247,908
$
66.86
Granted
226,259
100.35
Performance Shares Quantity Adjustment
55,517
91.18
Vested
 
(293,939)
90.00
Forfeited
(8,787)
66.53
Non-vested at December 31, 2025
226,958
$
76.13
Granted
78,215
144.93
Performance Shares Quantity Adjustment
12,282
117.41
Vested
 
(90,475)
120.95
Forfeited
(788)
88.87
Non-vested at March 31, 2026
226,192
$
87.80
During the
 
quarter ended
 
March 31,
 
2026,
42,395
 
shares of
 
restricted stock
 
(March 31,
 
2025 -
72,619
) and
35,820
 
performance
shares (March 31, 2025 -
47,494
) were awarded to employees under the Incentive
 
Plan.
 
During the quarter
 
ended March 31,
 
2026, the Corporation recognized
 
$
5.9
 
million of restricted stock
 
expense related to
 
employee
incentive awards, with a tax
 
benefit of $
0.6
 
million (March 31, 2025 -
 
$
7.5
 
million, with a tax
 
benefit of $
0.6
 
million). For the quarter
ended March 31,
 
2026, the fair
 
market value of
 
the restricted stock
 
and performance shares
 
vested was
 
$
8.3
 
million at
 
grant date
and $
17.3
 
million at vesting date. This excess requires the recognition of a windfall tax benefit of $
3.3
 
million that was recorded as a
reduction in
 
income tax
 
expense. For
 
the quarter
 
ended March
 
31, 2026,
 
the Corporation
 
recognized $
3.9
 
million of
 
performance
shares
 
expense,
 
with
 
a
 
tax
 
benefit
 
of
 
$
0.2
 
million
 
(March
 
31,
 
2025
 
-
 
$
3.4
 
million,
 
with
 
a
 
tax
 
benefit
 
of
 
$
0.4
 
million).
 
The
 
total
unrecognized compensation cost related to non-vested restricted stock awards
 
and performance shares to employees at March
 
31,
2026 was $
13.5
 
million and is expected to be recognized over
 
a weighted-average period of
1.56
 
years.
The following table summarizes the restricted stock
 
activity under the Incentive Plan for members of
 
the Board of Directors:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Not in thousands)
RSUs / Restricted stock
Weighted-Average Grant
Date Fair Value per Unit
Non-vested at December 31, 2024
-
$
-
Granted
24,476
101.33
Vested
 
(5,363)
104.33
Forfeited
-
-
Non-vested at December 31, 2025
19,113
$
100.49
Granted
1,166
125.96
Vested
 
(1,166)
125.96
Forfeited
-
-
Non-vested at March 31, 2026
19,113
$
100.49
The
 
equity
 
awards
 
granted to
 
members of
 
the Board
 
of
 
Directors of
 
Popular,
 
Inc.
 
(the
 
“Directors”) after
 
May
 
2025
 
will
 
vest
 
and
become non-forfeitable on the first anniversary of the grant date
 
of such award. Equity awards granted to the Directors may
 
be paid
in either restricted stock or RSUs, at each Director’s election. If RSUs are elected the Directors may
 
defer the delivery of the shares
of
 
common
 
stock
 
underlying
 
the
 
RSUs
 
award
 
until
 
after
 
their
 
retirement.
 
To
 
the
 
extent
 
that
 
cash
 
dividends
 
are
 
paid
 
on
 
the
Corporation’s outstanding
 
common stock,
 
the Directors
 
will receive
 
an additional
 
number of
 
RSUs
 
that reflect
 
reinvested dividend
equivalent.
 
During the quarter ended March 31,
 
2026,
1,166
 
RSUs were granted to the
 
Directors (March 31, 2025 -
1,546
).
 
During this period,
the Corporation recognized $
0.6
 
million of restricted stock
 
expense related to these
 
RSUs, with a tax
 
benefit of $
0.1
 
million (March
96
31, 2025
 
- $
0.3
 
million, with
 
a tax
 
benefit of
 
$
48
 
thousand). The
 
fair value
 
at vesting
 
date of
 
the RSUs
 
vested during
 
the quarter
ended March 31, 2026 for the Directors was $
0.1
 
million.
97
Note 26 – Income taxes
 
For the quarter ended March 31, 2026, the
 
Corporation recorded an income tax expense of $
46.9
 
million with an effective tax rate
(“ETR”) of
16.0
%, compared to $
45.1
 
million with an ETR of
20.2
% for the same period of year 2025. Lower
 
ETR when compared to
the first quarter of 2025 is driven by higher net
 
exempt income. The Puerto Rico statutory tax
 
rate is
37.5
% for both periods.
Deferred income taxes reflect the
 
net tax effects
 
of temporary differences between the
 
carrying amounts of assets and
 
liabilities for
financial reporting
 
purposes and
 
their tax
 
bases. Significant
 
components of
 
the Corporation’s
 
deferred tax
 
assets and
 
liabilities at
March 31, 2026, and December 31, 2025,
 
were as follows:
 
98
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2026
 
(In thousands)
PR
US
Total
Deferred tax assets:
Tax credits available
 
for carryforward
$
7,318
$
54,154
$
61,472
Net operating loss and other carryforward available
 
63,350
554,936
618,286
Postretirement and pension benefits
30,200
-
30,200
Allowance for credit losses
337,923
29,096
367,019
Depreciation
8,528
7,996
16,524
FDIC-assisted transaction
152,665
-
152,665
Lease liability
31,943
18,607
50,550
Unrealized net loss on investment securities
158,885
14,038
172,923
Mortgage Servicing Rights
15,413
-
15,413
Other temporary differences
33,150
7,515
40,665
Total gross deferred
 
tax assets
839,375
686,342
1,525,717
Deferred tax liabilities:
Intangibles
96,278
56,545
152,823
Right of use assets
29,162
16,922
46,084
Deferred loan origination fees/cost
18,941
2,278
21,219
Loans acquired
17,132
-
17,132
Other temporary differences
9,241
429
9,670
 
Total gross deferred
 
tax liabilities
170,754
76,174
246,928
Valuation allowance
81,702
386,586
468,288
Net deferred tax asset
$
586,919
$
223,582
$
810,501
 
December 31, 2025
 
(In thousands)
PR
US
Total
Deferred tax assets:
Tax credits available
 
for carryforward
$
7,318
$
46,632
$
53,950
Net operating loss and other carryforward available
 
59,578
568,156
627,734
Postretirement and pension benefits
29,453
-
29,453
Allowance for credit losses
255,017
28,465
283,482
Deferred loan origination fees/cost
7,205
(2,474)
4,731
Depreciation
8,422
7,899
16,321
FDIC-assisted transaction
152,665
-
152,665
Lease liability
27,382
17,758
45,140
Unrealized net loss on investment securities
160,809
12,850
173,659
Difference in outside basis from pass-through entities
54,457
-
54,457
Mortgage Servicing Rights
15,375
-
15,375
Other temporary differences
26,347
7,586
33,933
Total gross deferred
 
tax assets
804,028
686,872
1,490,900
Deferred tax liabilities:
Intangibles
92,797
55,760
148,557
Right of use assets
24,846
15,875
40,721
Loans acquired
17,053
-
17,053
Other temporary differences
7,082
429
7,511
 
Total gross deferred
 
tax liabilities
141,778
72,064
213,842
Valuation allowance
78,153
386,587
464,740
Net deferred tax asset
$
584,097
$
228,221
$
812,318
99
The net
 
deferred tax
 
assets shown
 
in the
 
table above
 
at March
 
31, 2026,
 
is reflected
 
in the
 
Consolidated Statements of
 
Financial
Condition as $
811.2
 
million in net deferred tax
 
assets in the “Other assets”
 
caption (December 31, 2025 -
 
$
814.2
 
million) and $
649
thousand
 
in
 
deferred
 
tax
 
liabilities
 
in
 
the
 
“Other
 
liabilities”
 
caption
 
(December
 
31,
 
2025
 
-
 
$
1.9
 
million),
 
reflecting
 
the
 
aggregate
deferred tax
 
assets or
 
liabilities of
 
individual tax-paying
 
subsidiaries
 
of the
 
Corporation in
 
their
 
respective tax
 
jurisdiction, Puerto
Rico or the United States.
 
At
 
March 31,
 
2026, the
 
net deferred
 
tax assets
 
of the
 
U.S. operations
 
amounted to
 
$
610.2
 
million with
 
a valuation
 
allowance of
approximately $
386.6
 
million, for net deferred
 
tax assets after valuation
 
allowance of $
223.6
 
million. The Corporation evaluates the
realization of the deferred tax asset by taxing jurisdiction on a quarterly basis.
 
The U.S. Operations have generated taxable income
each of the last three
 
years. The financial results for
 
the first quarter of 2026
 
continue to show an
 
upward trend similar to 2024
 
and
2025.
 
These
 
financial
 
results
 
are
 
objectively
 
verifiable
 
positive
 
evidence.
 
Additionally,
 
the
 
Corporation
 
considered
 
as negative
evidence
 
inconsistency
 
in
 
performance
 
trends,
 
including lower
 
than
 
anticipated
 
results
 
in
 
recent
 
periods.
 
Also,
 
management
considered
 
the
 
uncertainty
 
in
 
predicting
 
future
 
taxable
 
income,
 
as
 
given
 
the
 
impact
 
of
 
external
 
factors
 
such
 
as
 
changes
 
in
macroeconomic
 
conditions,
 
geopolitical
 
issues,
 
and
 
shifts
 
in
 
monetary
 
policy.
 
In
 
addition,
 
management
 
evaluated
 
the
 
expiration
period of the NOLs carried forward which begin
 
to expire in 2028
As of
 
March 31,
 
2026, after
 
weighting all
 
positive and
 
negative evidence, the
 
Corporation concluded that
 
it is
 
more likely
 
than not
that $
223.6
 
million of
 
the deferred
 
tax assets
 
from the
 
U.S. operations, comprised
 
mainly of
 
net operating losses,
 
will be
 
realized.
The
 
Corporation
 
based
 
this
 
determination
 
on
 
its
 
estimated
 
taxable
 
income
 
available
 
to
 
realize
 
the
 
deferred
 
tax
 
assets
 
for
 
the
remaining carryforward
 
periods, together
 
with the
 
historical level
 
of
 
book income
 
adjusted by
 
permanent differences
 
and taxable
income.
 
Management
 
will
 
continue
 
to
 
monitor
 
and
 
review
 
the
 
U.S.
 
operation’s
 
results,
 
including
 
recent
 
earnings
 
trends,
 
pre-tax
earnings forecasts,
 
new tax
 
initiatives, and
 
performance indicators, such
 
as net
 
income versus
 
forecast, targeted
 
loan growth,
 
net
interest
 
income
 
margin,
 
changes
 
in
 
deposit
 
costs,
 
allowance
 
for
 
credit
 
losses,
 
charge-offs,
 
NPLs
 
inflows,
 
and
 
NPA
 
balances.
Significant changes,
 
or
 
a combination
 
of changes,
 
could
 
positively or
 
negatively impact
 
the amount
 
of
 
deferred tax
 
assets to
 
be
realized in the future.
At March 31, 2026, the
 
Corporation’s net deferred tax assets related to
 
its Puerto Rico operations amounted to $
668.6
 
million.
 
The
Corporation’s Puerto Rico Banking operation has a historical record of profitability. This is considered as strong objectively verifiable
positive
 
evidence
 
that
 
outweighs
 
any
 
negative
 
evidence
 
considered
 
by
 
management
 
in
 
the
 
evaluation
 
of
 
the
 
realization
 
of
 
the
deferred tax assets.
 
Based on this evidence
 
and management’s estimate of
 
future taxable income, the
 
Corporation has concluded
that it is more likely than not that such net deferred
 
tax assets
 
of the Puerto Rico Banking operations will
 
be realized.
The Holding Company operation has been in a cumulative loss position in recent years. Management expects these losses will be a
trend
 
in
 
future
 
years.
 
This
 
objectively
 
verifiable
 
negative
 
evidence is
 
considered
 
by
 
management strong
 
negative
 
evidence that
suggests that
 
income in
 
future years
 
will be
 
insufficient to
 
support the
 
realization of
 
all deferred
 
tax assets.
 
After weighting
 
of all
positive
 
and
 
negative evidence
 
Management concluded,
 
as
 
of
 
the reporting
 
date,
 
that
 
it
 
is
 
more
 
likely
 
than
 
not that
 
the
 
Holding
Company will not be
 
able to realize any
 
portion of the deferred tax
 
assets. Accordingly, the
 
Corporation has maintained a valuation
allowance on the deferred tax assets of $
81.7
 
million as of March 31, 2026.
The
 
Corporation and
 
its subsidiaries
 
file
 
income tax
 
returns in
 
Puerto
 
Rico, the
 
U.S. federal
 
jurisdiction, various
 
U.S. states
 
and
political subdivisions,
 
and foreign
 
jurisdictions. At
 
March 31,
 
2026, the
 
following years
 
remain subject
 
to
 
examination in
 
the U.S.
Federal jurisdiction, 2022 and thereafter; and in
 
the Puerto Rico jurisdiction, 2019 and thereafter.
 
100
Note 27 – Supplemental disclosure on the consolidated
 
statements of cash flows
Additional disclosures on cash flow information and
 
non-cash activities for the quarters ended March
 
31, 2026 and March 31, 2025
are listed in the following table:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2026
March 31, 2025
Non-cash activities:
 
Loans transferred to other real estate
$
10,427
$
7,067
 
Loans transferred to other property
21,752
24,673
 
Total loans transferred
 
to foreclosed assets
32,179
31,740
 
Loans transferred to other assets
11,852
13,992
 
Financed sales of other real estate assets
783
1,932
 
Financed sales of other foreclosed assets
13,461
14,979
 
Total financed sales
 
of foreclosed assets
14,244
16,911
 
Financed sale of premises and equipment
14,372
15,329
 
Transfers from loans held-in-portfolio to
 
loans held-for-sale
9,094
-
 
Transfers from loans held-for-sale to loans
 
held-in-portfolio
409
776
 
Loans securitized into investment securities
[1]
11,453
1,718
 
Trades receivable from brokers and counterparties
51
936
 
Trades payable to brokers and counterparties
297,657
495,397
 
Net change in receivables from investments maturities
-
14,589
 
Recognition of mortgage servicing rights on securitizations
 
or asset transfers
515
210
 
Loans booked under the GNMA buy-back option
3,483
1,921
 
Capitalization of lease right of use asset
10,396
7,288
[1]
Includes loans securitized into trading securities and subsequently
 
sold before quarter end.
The following table provides a reconciliation of
 
cash and due from banks, and restricted cash
 
reported within the Consolidated
Statements of Financial Condition that sum to
 
the total of the same such amounts shown
 
in the Consolidated Statements of Cash
Flows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
March 31, 2026
March 31, 2025
Cash and due from banks
$
378,866
$
373,718
Restricted cash and due from banks
6,056
6,447
Restricted cash in money market investments
9,803
10,457
Total cash and due
 
from banks, and restricted cash
[2]
$
394,725
$
390,622
[2]
 
Refer to Note 4 - Restrictions on cash and due from banks
 
and certain securities for nature of restrictions.
101
Note 28 – Segment reporting
The
 
Corporation’s
 
corporate
 
structure
 
consists
 
of
two
 
reportable
 
segments
 
–
Banco Popular de Puerto Rico and Popular U.S.
Management determined the reportable segments based on the internal reporting used to evaluate performance and to assess
where to allocate resources.
 
The segments were
 
determined based on the
 
organizational structure, which focuses
 
primarily on the
markets the segments serve, as well as on the products
 
and services offered by the segments.
The chief operating
 
decision maker (“CODM”) of
 
the Corporation is
 
the Chief Executive
 
Officer (“CEO”) who
 
utilizes net income
 
as
one of
 
the segment
 
profitability measures,
 
to evaluate
 
the performance
 
of each
 
reportable segment and
 
assess where
 
to allocate
resources effectively.
 
The CEO
 
receives
 
profitability reports
 
that
 
include net
 
income
 
per segment,
 
net
 
interest income
 
and
 
other
income
 
and expense
 
categories. The
 
CODM uses
 
the segment’s
 
net income
 
and components
 
of net
 
income, including
 
segment
revenues and
 
expenses to
 
assess performance
 
and to
 
manage important
 
aspects by
 
each reportable
 
segments,
 
such as
 
human
capital, investment in technology, making budget allocations,
 
as well as other strategic decisions.
Banco Popular de Puerto Rico:
 
The Banco
 
Popular de
 
Puerto Rico
 
reportable segment
 
includes commercial,
 
consumer and
 
retail banking
 
operations, as
 
well as
mortgage and auto lending operations conducted
 
at BPPR, including U.S. based activities conducted
 
through its New York
 
Branch.
Other financial
 
services within the
 
BPPR segment
 
include the trust
 
service units
 
of BPPR,
 
asset management services
 
of Popular
Asset Management and
 
the brokerage operations
 
of Popular Securities,
 
and the insurance
 
agency and reinsurance
 
businesses of
Popular Insurance, Popular Risk Services, Popular Life
 
Re, and Popular Re.
Popular U.S.:
 
Popular U.S. reportable segment
 
consists of the
 
banking operations of Popular
 
Bank (PB), Popular Insurance
 
Agency, U.S.A.,
 
and
PEF.
 
PB
 
operates through
 
a retail
 
branch network
 
in the
 
U.S. mainland
 
under the
 
name of
 
Popular,
 
and equipment
 
leasing and
financing services through PEF.
 
Popular Insurance Agency,
 
U.S.A. offers investment and insurance
 
services across the PB
 
branch
network.
 
The Corporate group
 
consists primarily of
 
the holding companies
 
Popular, Inc.,
 
Popular North America,
 
Popular International Bank
and certain of the Corporation’s investments accounted for under
 
the equity method, including BHD.
 
The
 
accounting
 
policies
 
of
 
the
 
individual
 
operating
 
segments
 
are
 
the
 
same
 
as
 
those
 
of
 
the
 
Corporation.
 
Transactions
 
between
reportable segments are primarily conducted at market rates, resulting
 
in profits that are eliminated for reporting consolidated results
of
 
operations. Assets
 
representing transactions
 
between reportable
 
segments
 
or
 
the
 
Corporate
 
group
 
are
 
also
 
eliminated in
 
the
tables presented below.
The tables that follow present the results of operations
 
and total assets by reportable segments:
102
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2026
For the quarter ended March 31, 2026
Intersegment
 
(In thousands)
BPPR
Popular U.S.
Eliminations
Interest income
$
748,501
$
198,248
$
-
Interest expense
180,555
86,541
-
Net interest income
567,946
111,707
-
Provision for credit losses
73,533
2,383
-
Non-interest income
 
144,777
7,952
(21)
Personnel costs
152,634
25,147
(21)
Professional fees
11,966
2,649
-
Technology and
 
software expenses
65,721
9,534
-
Processing and transactional services
38,457
607
-
Amortization of intangibles
240
144
-
Depreciation expense
10,966
2,189
-
Other operating expenses
[1]
122,325
25,289
-
Total operating
 
expenses
402,309
65,559
(21)
Income before income tax
236,881
51,717
-
Income tax expense
32,511
14,752
-
Net income
$
204,370
$
36,965
$
-
Segment assets
$
60,785,767
$
14,953,476
$
(49,214)
For the quarter ended March 31, 2026
Reportable
 
(In thousands)
Segments
Corporate
Eliminations
Total Popular,
 
Inc.
Interest income
$
946,749
$
1,326
$
(859)
$
947,216
Interest expense
267,096
10,799
(859)
277,036
Net interest income (expense)
679,653
(9,473)
-
670,180
Provision for credit losses (benefit)
75,916
(30)
-
75,886
Non-interest income
152,708
13,844
(926)
165,626
Personnel costs
177,760
38,338
(29)
216,069
Professional fees
14,615
11,347
(409)
25,553
Technology and
 
software expenses
75,255
13,884
-
89,139
Processing and transactional services
39,064
23
-
39,087
Amortization of intangibles
384
-
-
384
Depreciation expense
13,155
383
-
13,538
Other operating expenses
[1]
147,614
(63,662)
(412)
83,540
Total operating
 
expenses
467,847
313
(850)
467,310
Income before income tax
288,598
4,088
(76)
292,610
Income tax expense
47,263
(327)
-
46,936
Net income
$
241,335
$
4,415
$
(76)
$
245,674
Segment assets
$
75,690,029
$
5,797,656
$
(5,356,667)
$
76,131,018
[1]
Other operating expenses includes net occupancy expenses,
 
equipment expense, excluding depreciation, other operating taxes,
communications expense, business promotion expenses, deposit
 
insurance costs and OREO expenses.
103
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2025
For the quarter ended March 31, 2025
Intersegment
 
(In thousands)
BPPR
 
Popular U.S.
Eliminations
Interest income
$
731,888
$
186,392
$
(1,681)
Interest expense
209,996
93,450
(1,681)
Net interest income
521,892
92,942
-
Provision for credit losses (benefit)
53,512
10,610
-
Non-interest income
 
137,505
6,143
-
Personnel costs
151,284
25,442
-
Professional fees
13,059
2,739
-
Technology and
 
software expenses
64,151
10,088
-
Processing and transactional services
37,179
597
-
Amortization of intangibles
342
255
-
Depreciation expense
9,694
2,197
-
Other operating expenses
[1]
128,754
25,619
-
Total operating
 
expenses
404,463
66,937
-
Income before income tax
201,422
21,538
-
Income tax expense
35,443
6,722
-
Net income
$
165,979
$
14,816
$
-
Segment assets
$
59,288,907
$
14,529,602
$
(166,540)
For the quarter ended March 31, 2025
Reportable
 
(In thousands)
Segments
Corporate
Eliminations
Total Popular,
 
Inc.
Interest income
916,599
1,536
(1,137)
916,998
Interest expense
301,765
10,773
(1,137)
311,401
Net interest income (expense)
$
614,834
$
(9,237)
$
-
$
605,597
Provision for credit losses (benefit)
64,122
(41)
-
64,081
Non-interest income
 
143,648
9,029
(616)
152,061
Personnel costs
176,726
35,987
-
212,713
Professional fees
15,798
11,357
(330)
26,825
Technology and
 
software expenses
74,239
9,429
-
83,668
Processing and transactional services
37,776
5
-
37,781
Amortization of intangibles
597
-
-
597
Depreciation expense
11,891
389
-
12,280
Other operating expenses
[1]
154,373
(56,402)
(823)
97,148
Total operating
 
expenses
471,400
765
(1,153)
471,012
Income before income tax
222,960
(932)
537
222,565
Income tax expense (benefit)
42,165
2,675
223
45,063
Net income
$
180,795
$
(3,607)
$
314
$
177,502
Segment assets
$
73,651,969
$
5,906,249
$
(5,519,612)
$
74,038,606
[1]
Other operating expenses includes net occupancy expenses,
 
equipment expense, excluding depreciation, other operating taxes,
communications expense, business promotion expenses, deposit
 
insurance costs and OREO expenses.
 
104
Geographic Information
The following information presents selected
 
financial information based on the
 
geographic location where the Corporation conducts
its business. The
 
banking operations of BPPR
 
are primarily based in
 
Puerto Rico, where it
 
has the largest retail
 
banking franchise.
BPPR
 
also
 
conducts
 
banking
 
operations
 
in
 
the
 
U.S.
 
Virgin
 
Islands,
 
the
 
British
 
Virgin
 
Islands
 
and
 
New
 
York.
 
BPPR’s
 
banking
operations in
 
the mainland
 
United States
 
include commercial
 
lending activities
 
in addition
 
to
 
periodic loan
 
participations with
 
PB.
During the first
 
quarter of 2026,
 
BPPR did
no
t participate in
 
loans originated by
 
PB (2025 -
 
$
6
 
million). Total
 
assets for the
 
BPPR
segment related
 
to its
 
operations in
 
the United
 
States amounted
 
to $
1.4
 
billion (December 31,
 
2025 -
 
$
1.4
 
billion), including
 
$
102
million in multifamily loans
 
(December 31, 2025 -
 
$
102
 
million), $
413
 
million in commercial
 
real estate loans (December
 
31, 2025 -
$
435
 
million), $
735
 
million in C&I loans (December 31, 2025 - $
714
 
million), and $
31
 
million in unsecured personal loans (December
31, 2025
 
- $
41
 
million). During
 
the quarter
 
ended March
 
31, 2026,
 
the BPPR
 
segment generated
 
$
21.5
 
million (March
 
31, 2025
 
-
$
26.3
 
million) in revenues from its
 
operations in the United States,
 
mainly from net interest income.
 
In the Virgin Islands,
 
the BPPR
segment offers
 
banking products, including
 
loans and deposits.
 
Total
 
assets for the
 
BPPR segment related
 
to its
 
operations in the
U.S. and
 
British Virgin
 
Islands amounted
 
to $
1.1
 
billion (December
 
31, 2025
 
- $
1.0
 
billion). The
 
BPPR segment
 
generated $
13.6
million in revenues during the
 
first quarter of 2026 (March 31,
 
2025 - $
11.8
 
million) from its operations in
 
the U.S. and British Virgin
Islands.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Geographic Information
 
Quarter ended
(In thousands)
March 31, 2026
March 31, 2025
Revenues:
[1]
 
Puerto Rico
 
$
668,071
$
609,961
 
United States
139,663
127,216
 
Other
28,072
20,481
Total consolidated
 
revenues
 
$
835,806
$
757,658
[1]
Total revenues include
 
net interest income, service charges on deposit accounts,
 
other service fees, mortgage banking activities, net
 
(loss)
gain, including impairment on equity securities, net gain
 
on trading account debt securities, adjustments to indemnity
 
reserves on loans sold
and other operating income.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Selected Balance Sheet Information:
(In thousands)
March 31, 2026
December 31, 2025
Puerto Rico
 
Total assets
$
58,510,727
$
57,955,465
 
Loans
25,884,571
25,853,231
 
Deposits
53,602,880
52,451,498
United States
 
Total assets
$
16,278,568
$
16,101,705
 
Loans
12,894,276
12,966,468
 
Deposits
12,185,414
11,987,581
Other
 
Total assets
$
1,341,723
$
1,291,097
 
Loans
516,458
517,817
 
Deposits
[1]
1,823,022
1,751,014
[1]
Represents deposits from BPPR operations located in the
 
U.S. and British Virgin Islands.
 
 
105
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
 
AND RESULTS OF OPERATIONS
This
 
report
 
includes
 
management’s
 
discussion
 
and
 
analysis
 
(“MD&A”)
 
of
 
the
 
consolidated
 
financial
 
position
 
and
 
financial
performance
 
of
 
Popular,
 
Inc.
 
(the
 
“Corporation”
 
or
 
“Popular”). All
 
accompanying
 
tables,
 
financial
 
statements
 
and
 
notes
 
included
elsewhere in this report should be considered an
 
integral part of this analysis.
 
The Corporation is a
 
diversified, publicly owned financial holding company subject
 
to the supervision and regulation
 
of the Board of
Governors of the Federal Reserve System. The Corporation has
 
operations in Puerto Rico, the United States (“U.S.”) mainland and
the U.S. and British Virgin Islands. In Puerto Rico, the
 
Corporation provides retail, mortgage,
 
commercial banking services and auto
and equipment
 
leasing and
 
financing through its
 
principal banking subsidiary,
 
Banco Popular de
 
Puerto Rico
 
(“BPPR”), as
 
well as
broker-dealer and
 
insurance services
 
through specialized
 
subsidiaries. In
 
the
 
U.S. mainland,
 
the
 
Corporation provides
 
retail and
commercial
 
banking
 
services,
 
as
 
well
 
as
 
equipment
 
leasing
 
and
 
financing,
 
through
 
its
 
New
 
York-chartered
 
banking
 
subsidiary,
Popular
 
Bank
 
(“PB”
 
or
 
“Popular
 
U.S.”),
 
which
 
has
 
branches
 
located
 
in
 
New
 
York,
 
New
 
Jersey
 
and
 
Florida.
 
Note
 
28
 
to
 
the
Consolidated Financial Statements presents information
 
about the Corporation’s business segments.
As a financial services company,
 
the Corporation’s earnings are significantly affected
 
by general business and economic conditions
in the
 
markets which
 
we serve.
 
Lending and
 
deposit activities
 
and fee
 
income generation
 
are influenced
 
by the
 
level of
 
business
spending and
 
investment, consumer
 
income, spending
 
and savings,
 
capital market
 
activities, competition,
 
customer preferences,
interest rate conditions and prevailing market rates
 
on competing products.
The Corporation
 
operates in
 
a highly
 
regulated environment
 
and may
 
be adversely
 
affected by
 
changes in
 
federal and
 
local laws
and
 
regulations.
 
Also,
 
competition
 
with
 
other
 
financial
 
institutions,
 
as
 
well
 
as
 
with
 
non-traditional financial
 
service
 
providers
 
and
technology
 
companies
 
that
 
provide
 
electronic
 
and
 
internet-based
 
financial
 
solutions
 
and
 
services,
 
could
 
adversely
 
affect
 
its
profitability.
The
 
Corporation
 
continuously
 
monitors
 
general
 
business
 
and
 
economic
 
conditions,
 
industry-related
 
indicators
 
and
 
trends,
competition, interest rate volatility, credit quality indicators, loan, and deposit demand, operational and systems efficiencies, revenue
enhancements and changes in the regulation of financial
 
services companies.
 
The description of the Corporation’s business contained in
 
Item 1 of the 2025 Form 10-K, while not all inclusive,
 
discusses additional
information about the business of the Corporation. Readers should also refer to “Part I - Item 1A” of the 2025 Form 10-K and “Part II
- Item 1A” of this Form 10-Q for a discussion of certain risks and uncertainties to which the Corporation is subject, many beyond the
Corporation’s control that, in addition to the other information in
 
this Form 10-Q, readers should consider.
The Corporation’s common stock is traded on the NASDAQ
 
Global Select Market under the symbol BPOP.
OVERVIEW
Financial highlights for the quarter ended March 31, 2026
The Corporation’s net income
 
for the quarter ended March
 
31, 2026 amounted to $245.7
 
million, an increase of
 
$68.2 million when
compared to a
 
net income of
 
$177.5 million for the
 
quarter ended March
 
31, 2025. Higher net
 
income was mainly
 
driven by higher
net interest income of $64.6 million and lower
 
operating expenses
 
by $3.7 million.
 
Financial highlights for the quarter ended March 31, 2026
 
include:
●
 
Net interest income amounted to $670.2
 
million, an increase of $64.6 million
 
when compared to the quarter ended March
31, 2025, driven
 
by loan growth
 
and investments in
 
U.S. Treasury securities
 
at higher yields,
 
and lower cost
 
of deposits,
mainly
 
P.R.
 
public
 
deposits,
 
partially
 
offset
 
by
 
lower
 
money
 
market
 
investments.
 
Net
 
interest
 
income
 
on
 
a
 
taxable
equivalent
 
basis
 
for
 
the
 
first
 
quarter
 
of
 
2026
 
was
 
$757.8
 
million,
 
an
 
increase
 
of
 
$93.9
 
million.
 
Net
 
interest
 
margin
expanded by 26 basis points to 3.66%. On
 
a taxable equivalent basis, net interest margin expanded by
 
41 basis points to
4.14%.
 
106
●
 
The
 
provision for
 
credit
 
losses amounted
 
to
 
$75.9 million
 
for the
 
quarter ended
 
March 31,
 
2026, an
 
increase of
 
$11.8
million when compared to the quarter ended March 31, 2025, driven by a higher provision at BPPR in the commercial and
mortgage
 
loans
 
portfolio,
 
partially
 
offset
 
by
 
a
 
lower
 
provision
 
for
 
the
 
leases
 
and
 
consumer
 
loans
 
portfolio
 
due
 
to
improvements in credit
 
quality metrics. Provision
 
for credit losses
 
decreased at PB
 
primarily due to
 
the higher qualitative
reserves
 
established
 
during
 
the
 
first
 
quarter
 
of
 
2025
 
to
 
maintain
 
adequate
 
ACL
 
coverage,
 
for
 
certain
 
portfolios,
 
and
improvements in overall credit quality.
 
●
 
Non-interest income amounted to $165.6 million, an increase of $13.6 million when compared to the quarter ended March
31, 2025, mainly driven by
 
higher credit and debit card fee income,
 
higher asset management fees, and higher insurance
fees.
●
 
Operating expenses
 
amounted to
 
$467.3
 
million for
 
the quarter,
 
reflecting a
 
decrease of
 
$3.7 million
 
when compared
 
to
the
 
quarter
 
ended
 
March
 
31,
 
2025.
 
The
 
decrease
 
was
 
mainly
 
driven
 
by
 
lower
 
operational
 
loss
 
reserves
 
and
 
lower
professional services
 
expense, partially
 
offset by
 
higher technology
 
and software
 
expenses as
 
a result
 
of our
 
continued
investment in technology and higher personnel costs, mainly related to salaries, as well as
 
the valuation of securities held
for deferred benefit plans.
 
●
 
Income tax expense of $46.9 million with an effective tax rate (“ETR”) of 16.0%
 
during the quarter ended March 31, 2026,
compared to an income
 
tax expense of $45.1
 
million with an ETR
 
of 20.2% for the
 
quarter ended March 31,
 
2025 due to
higher income before tax, partially offset by higher exempt
 
income.
●
 
At March
 
31, 2026,
 
the Corporation’s
 
total assets
 
amounted to
 
$76.1 billion, compared
 
to $75.3
 
billion at
 
December 31,
2025.
 
The
 
increase
 
of
 
$782.8
 
million
 
was
 
primarily
 
due
 
to
 
higher
 
balance
 
in
 
the
 
available-for-sale
 
(“AFS”)
 
securities
portfolio,
 
driven
 
by
 
reinvestment in
 
U.S.
 
Treasury
 
securities,
 
and
 
an
 
increase
 
in
 
money market
 
investments and
 
other
assets, partially
 
offset
 
by a
 
decrease in
 
held-to-maturity (“HTM”)
 
investment securities
 
and a
 
decrease in
 
loan portfolio
balances, mainly at PB.
●
 
Deposits
 
amounted
 
to
 
$67.6
 
billion
 
at
 
March
 
31,
 
2026,
 
an
 
increase
 
of
 
$1.4
 
billion
 
from
 
December 31,
 
2025,
 
primarily
driven by growth at BPPR across retail, corporate,
 
and P.R. public deposits.
●
 
Stockholders’ equity
 
amounted to
 
$6.3 billion
 
at March
 
31, 2026,
 
compared to
 
$6.2 billion
 
at December
 
31, 2025.
 
The
Corporation and its banking subsidiaries continue
 
to be well capitalized. As
 
of March 31, 2026, the
 
Corporation’s tangible
book value
 
per common
 
share was
 
$84.98, an
 
increase of
 
$2.33 from
 
December 31,
 
2025. The
 
Common Equity
 
Tier
 
1
Capital ratio at March 31, 2026 was 15.92%,
 
compared to 15.72% at December 31, 2025.
Refer to Table 1 for selected financial data for the quarters ended March 31, 2026 and March
 
31, 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
107
Table 1 - Financial highlights
Financial Condition Highlights
Ending Balances at
Average for the quarter ended
(In thousands)
March 31, 2026
 
December 31,
2025
Variance
March 31, 2026
March 31,
2025
Variance
Money market investments
$
4,655,699
$
4,626,506
$
29,193
$
4,850,141
$
6,379,085
$
(1,528,944)
Investment securities
28,943,544
28,168,918
774,626
29,008,686
28,446,090
562,596
Loans
 
[1]
39,295,305
39,337,516
(42,211)
39,270,501
37,006,149
2,264,352
Earning assets
72,894,548
72,132,940
761,608
73,129,328
71,831,324
1,298,004
Total assets
76,131,018
75,348,267
782,751
77,089,305
74,951,813
2,137,492
Deposits
67,611,316
66,190,093
1,421,223
67,364,627
65,858,092
1,506,535
Borrowings
1,119,557
1,448,578
(329,021)
1,335,239
959,211
376,028
Total liabilities
69,819,932
69,099,188
720,744
69,688,807
67,795,911
1,892,896
Stockholders’ equity
6,311,086
6,249,079
62,007
6,289,337
7,155,902
(866,565)
Note: Average balances, for balances prior to the period ended March 31, 2026, exclude unrealized gains or losses on debt securities available-for-sale and the unrealized loss related to
certain securities transferred from available-for-sale to held-to-maturity.
Operating Highlights
Quarter ended March 31,
(In thousands, except per share information)
2026
2025
 
Variance
Net interest income
$
670,180
$
605,597
$
64,583
Provision for credit losses
75,886
64,081
11,805
Non-interest income
165,626
152,061
13,565
Operating expenses
467,310
471,012
(3,702)
Income before income tax
292,610
222,565
70,045
Income tax expense
46,936
45,063
1,873
Net income
$
245,674
$
177,502
$
68,172
Net income applicable to common stock
$
245,321
$
177,149
$
68,172
Net income per common share - basic
$
3.78
$
2.56
$
1.22
Net income per common share - diluted
$
3.78
$
2.56
$
1.22
Dividends declared per common share
$
0.75
$
0.70
$
0.05
Quarter ended March 31,
Selected Statistical Information
2026
2025
Common Stock Data
 
End market price
$
134.17
$
92.37
 
Book value per common share at period end
97.27
83.75
Profitability Ratios
 
Return on average assets
1.29
%
0.96
%
 
Return on average common equity
13.76
10.07
 
Net interest spread (non-taxable equivalent basis)
3.09
2.74
 
Net interest spread (taxable equivalent basis) -non-GAAP
3.57
3.07
 
Net interest margin (non-taxable equivalent basis)
3.66
3.40
 
Net interest margin (taxable equivalent basis) -non-GAAP
4.14
3.73
Capitalization Ratios
 
Average equity to average assets
9.41
%
8.99
%
 
Common equity Tier 1 capital
15.92
16.11
 
Tangible common
 
book value per common share (non-GAAP)
 
[2]
84.98
72.02
 
Return on average tangible common equity
 
[2]
15.46
11.36
 
Tier 1 capital
15.98
16.17
 
Total capital
17.71
17.92
 
Tier 1 leverage
8.60
8.50
[1] Includes loans held-for-sale.
108
[2] Refer to Table 10 for reconciliation to GAAP financial measures.
Non-GAAP Financial Measures
This Form 10-Q
 
contains financial information
 
prepared under accounting
 
principles generally accepted in
 
the United States
 
(“U.S.
GAAP”) and
 
non-GAAP financial
 
measures. Management
 
uses non-GAAP
 
financial measures
 
when it
 
has determined
 
that these
measures provide
 
meaningful information
 
about the
 
underlying performance
 
of the
 
Corporation’s ongoing
 
operations. Non-GAAP
financial measures used by the Corporation may not be comparable to similarly named non-GAAP financial measures used by
 
other
companies.
Adjusted net income - Non-GAAP Financial Measure
In
 
addition to
 
analyzing the
 
Corporation’s results
 
on
 
a reported
 
basis, management
 
monitors whether
 
the
 
impact of
 
certain non-
recurring or
 
infrequent transactions
 
need to
 
be excluded
 
from the
 
results of
 
operations to
 
present what
 
is then
 
considered to
 
be
“adjusted
 
net
 
income”
 
of
 
the
 
Corporation.
 
Management believes
 
that
 
the
 
“adjusted
 
net
 
income”
 
provides
 
meaningful
 
information
about
 
the
 
underlying
 
performance of
 
the
 
Corporation’s
 
ongoing
 
operations.
 
The
 
“adjusted
 
net
 
income”
 
is
 
a
 
non-GAAP
 
financial
measure.
There were no non-GAAP adjustments to net income
 
for the quarters ended March 31, 2026
 
and March 31, 2025.
109
Net interest income on a taxable equivalent basis
 
– Non-GAAP Financial Measure
Net interest income, on a taxable equivalent basis, is presented with
 
its different components in Table 2 for the quarter ended March
31, 2026, as compared with the same period in 2025,
 
segregated by major categories of interest earning
 
assets and interest-bearing
liabilities.
The
 
main
 
sources
 
of
 
tax-exempt
 
interest
 
income
 
are
 
certain
 
loans
 
and
 
investments
 
in
 
obligations
 
of
 
the
 
U.S.
 
Government,
 
its
agencies and sponsored entities, and
 
certain obligations of the
 
Commonwealth of Puerto Rico and
 
its agencies and assets
 
held by
the Corporation’s
 
international banking entities.
 
On Table
 
2, the interest
 
income has been
 
converted to a
 
taxable equivalent basis,
using the
 
applicable statutory income
 
tax rates
 
for each
 
period net
 
of interest
 
expense that the
 
Puerto Rico
 
tax law
 
requires to be
disallowed, based
 
on an
 
equal proportion
 
of tax-exempt
 
assets to
 
total assets,
 
and by
 
an allocation
 
of general
 
and administrative
expenses attributable to exempt income, reducing the benefit of
 
the tax-exempt income. The effective yield, on a
 
taxable equivalent
basis, will
 
vary depending on
 
the level
 
of these
 
expenses that are
 
attributable to
 
the available exempt
 
income. Under Puerto
 
Rico
tax
 
law,
 
the
 
exempt
 
interest
 
can
 
be
 
deducted
 
up
 
to
 
the
 
amount
 
of
 
taxable
 
income.
 
Management believes
 
that
 
this
 
presentation
provides meaningful information since it facilitates the comparison
 
of revenues arising from taxable and exempt
 
sources.
Tangible Common Equity and Tangible Assets
Tangible
 
common equity,
 
tangible common equity ratio, tangible
 
assets and tangible book
 
value per common share
 
are non-GAAP
financial measures.
 
Tangible
 
common equity
 
ratio and
 
tangible book
 
value per
 
common share
 
should be
 
used in
 
conjunction with
more
 
traditional
 
bank
 
capital
 
ratios
 
commonly
 
used
 
by
 
banks
 
and
 
analysts
 
to
 
compare
 
the
 
capital
 
adequacy
 
of
 
banking
organizations
 
with
 
significant
 
amounts
 
of
 
goodwill
 
or
 
other
 
intangible
 
assets,
 
typically
 
stemming
 
from
 
the
 
use
 
of
 
the
 
purchase
accounting method for
 
mergers and acquisitions.
 
Tangible
 
common equity,
 
tangible assets
 
and other related
 
measures should not
be
 
used
 
in
 
isolation
 
or
 
as
 
a substitute
 
for
 
stockholders' equity,
 
total
 
assets
 
or
 
any
 
other
 
measure calculated
 
in
 
accordance
 
with
GAAP.
 
Moreover, the
 
way the Corporation
 
calculates its tangible
 
common equity,
 
tangible assets and
 
other related measures
 
may
differ from that of other companies reporting measures
 
with similar names.
Table
 
8 provides
 
a reconciliation
 
of total
 
stockholders’ equity
 
to tangible
 
common equity
 
and total
 
assets to
 
tangible assets
 
as of
March 31, 2026 and December 31, 2025.
 
 
 
 
110
CRITICAL ACCOUNTING POLICIES / ESTIMATES
 
The accounting and reporting policies followed by the Corporation
 
and its subsidiaries conform to U.S. GAAP and
 
general practices
within
 
the
 
financial
 
services
 
industry.
 
Various
 
elements
 
of
 
the
 
Corporation’s
 
accounting
 
policies,
 
by
 
their
 
nature,
 
are
 
inherently
subject to estimation techniques, valuation assumptions
 
and other subjective assessments.
Management
 
has
 
discussed
 
the
 
development
 
and
 
selection
 
of
 
the
 
critical
 
accounting
 
estimates
 
with
 
the
 
Corporation’s
 
Audit
Committee. The Corporation has identified as critical accounting estimates those related to: (i) Fair Value
 
Measurement of Financial
Instruments;
 
(ii)
 
Loans
 
and
 
Allowance
 
for
 
Credit
 
Losses;
 
(iii)
 
Income
 
Taxes;
 
(iv)
 
Goodwill
 
and
 
Other
 
Intangible
 
Assets;
 
and
 
(v)
Pension and Postretirement
 
Benefit Obligations. For
 
a summary of
 
these critical accounting
 
estimates, refer to
 
the MD&A included
in
 
the
 
2025
 
Form
 
10-K.
 
Also,
 
refer
 
to
 
Note
 
2
 
to
 
the
 
Consolidated
 
Financial
 
Statements
 
included
 
in
 
the
 
2025
 
Form
 
10-K
 
for
 
a
summary of the Corporation’s significant accounting policies and to Note 3 to the Consolidated Financial Statements included in this
Form 10-Q for information on recently adopted accounting
 
standard updates.
STATEMENT
 
OF OPERATIONS ANALYSIS
NET INTEREST INCOME
Net interest income (“NII”) for the quarter ended March 31, 2026 was $670.2 million an increase of
 
$64.6 million, when compared to
the
 
same
 
quarter
 
in
 
2025.
 
NII
 
growth
 
was
 
attributable
 
to
 
lower
 
cost
 
of
 
deposits
 
by
 
$38.4
 
million,
 
primarily
 
due
 
to
 
P.R.
 
public
deposits, loan growth
 
and higher income
 
from investments in
 
U.S Treasury
 
securities. Net interest
 
income on a
 
taxable equivalent
basis for the first quarter of 2026 was $757.8
 
million, an increase of $94.0 million.
Net interest margin (“NIM”) for the first quarter of 2026 was 3.66%,
 
an increase of 26 basis points when compared
 
to the first quarter
of 2025. On
 
a taxable equivalent basis,
 
net interest margin for
 
the first quarter of
 
2026 was 4.14%, higher
 
by 41 basis
 
points when
compared to the first quarter of 2025, mainly due to higher level
 
of tax-exempt securities and loans. NIM expansion, when
 
compared
to the same quarter of the previous year,
 
was primarily due to lower deposit costs resulting from the
 
repricing of market-linked high-
cost deposits, mainly P.R.
 
public deposits, and higher yields on
 
U.S. Treasury securities. Total
 
cost of deposits decreased 27 basis
points
 
to
 
1.56%.
 
Excluding
 
P.R.
 
public
 
deposits,
 
total
 
deposit
 
costs
 
decreased
 
8
 
basis
 
points
 
to
 
1.09%
 
compared
 
to
 
the
 
same
quarter in 2025.
On a taxable equivalent basis, the main drivers of
 
the increase for the first quarter of 2026 were:
●
 
higher income from
 
U.S. Treasury
 
securities by $42.4
 
million or 44
 
basis points, attributable
 
to higher investment
 
activity
at higher yields with average balances increasing by $2.0 billion supported by deposit growth and purchases completed in
the
 
third
 
quarter
 
of
 
2025
 
of
 
approximately
 
$2.5
 
billion
 
of
 
U.S.
 
Treasury
 
notes
 
with
 
an
 
average
 
duration
 
of
 
1.4
 
years
through a
 
combination of
 
approximately $1.0
 
billion in
 
maturing U.S.
 
Treasuries
 
and a
 
reduction of
 
approximately $1.5
billion in overnight Fed funds;
●
 
higher income from loans
 
by $47.0 million or
 
5 basis points, mostly due
 
to loan growth, average loan
 
balances increased
by $2.2 billion when
 
compared to the same
 
period in the previous year
 
driven by commercial, construction and
 
mortgage
portfolio, along
 
with higher
 
yields from
 
auto, leases
 
and mortgage
 
portfolios.
 
Loan portfolio
 
yields increased
 
five basis
points to 7.53%; and
●
 
lower interest expense on deposits
 
by $38.4 million or 27
 
basis points, when compared to the
 
same quarter in 2025. The
cost of
 
interest-bearing deposits decreased
 
by 35
 
basis points,
 
driven by
 
repricing of
 
market-linked P.R.
 
public deposits
which
 
decreased
 
by
 
66
 
basis
 
points
 
to
 
2.66%,
 
coupled
 
with
 
a
 
decrease
 
in
 
Popular
 
U.S.
 
deposit
 
costs
 
attributable
 
to
repricing across most deposit products, mainly online
 
savings and time deposits;
 
partially offset by:
●
 
lower income from money
 
market investments by $26.0 million
 
or 76 basis points,
 
as a result of
 
lower average balances,
driven by higher
 
re-investment activity in
 
U.S. Treasuries
 
and loan growth
 
as described above, coupled
 
with lower yields
resulting from declining short-term market rates during
 
2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
111
Table 2 - Analysis of Levels & Yields
 
on a Taxable Equivalent Basis
 
(Non-GAAP)
Quarter ended March 31,
Variance
Average Volume
Average Yields / Costs
Interest
Attributable to
2026
2025
Variance
2026
2025
 
Variance
2026
2025
Variance
Rate
Volume
(In millions)
(In thousands)
$
4,850
$
6,379
$
(1,529)
3.70
%
4.46
%
(0.76)
%
Money market
investments
$
44,240
$
70,166
$
(25,926)
$
(10,784)
$
(15,142)
29,810
28,415
1,395
3.52
3.14
0.38
Investment securities [1]
258,897
220,435
38,462
24,348
14,114
34
31
3
5.56
5.82
(0.26)
Trading securities
 
463
440
23
(20)
43
Total money market,
 
investment and
trading
34,694
34,825
(131)
3.54
3.38
0.16
securities
303,600
291,041
12,559
13,544
(985)
Loans:
19,723
18,489
1,234
6.71
6.71
-
Commercial
326,387
305,968
20,419
3
20,416
1,697
1,309
388
8.14
8.11
0.03
Construction
34,068
26,190
7,878
102
7,776
1,985
1,930
55
7.35
7.14
0.21
Leasing
36,459
34,444
2,015
1,015
1,000
8,664
8,168
496
6.08
5.82
0.26
Mortgage
131,679
118,917
12,762
5,360
7,402
3,309
3,203
106
13.86
14.04
(0.18)
Consumer
113,129
110,859
2,270
(1,351)
3,621
3,892
3,907
(15)
9.33
9.12
0.21
Auto
89,496
87,850
1,646
1,980
(334)
39,270
37,006
2,264
7.53
7.48
0.05
Total loans
731,218
684,228
46,990
7,109
39,881
$
73,964
$
71,831
$
2,133
5.66
%
5.49
%
0.17
%
Total earning assets
$
1,034,818
$
975,269
$
59,549
$
20,653
$
38,896
Interest bearing
deposits:
$
8,554
$
7,983
$
571
1.62
%
1.73
%
(0.11)
%
NOW and money
market
$
34,159
$
34,002
$
157
$
(4,227)
$
4,384
14,633
14,507
126
0.77
0.87
(0.10)
Savings
 
27,714
31,280
(3,566)
(2,118)
(1,448)
8,714
8,400
314
2.99
3.22
(0.23)
Time deposits
64,243
66,681
(2,438)
(4,969)
2,531
20,362
20,286
76
2.66
3.32
(0.66)
P.R. public
 
deposits
133,302
165,900
(32,598)
(33,046)
448
52,263
51,176
1,087
2.01
2.36
(0.35)
Total interest bearing
deposits
259,418
297,863
(38,445)
(44,360)
5,915
15,101
14,682
419
Non-interest bearing
demand deposits
67,364
65,858
1,506
1.56
1.83
(0.27)
Total deposits
259,418
297,863
(38,445)
(44,360)
5,915
597
121
476
3.88
4.77
(0.89)
Short-term borrowings
5,703
1,426
4,277
(284)
4,561
Other medium and
 
772
862
(90)
6.26
5.66
0.60
long-term debt
11,915
12,112
(197)
1,223
(1,420)
Total interest bearing
53,632
52,159
1,473
2.09
2.42
(0.33)
liabilities (excluding
demand deposits)
277,036
311,401
(34,365)
(43,421)
9,056
Other sources of funds
5,231
4,990
241
$
73,964
$
71,831
$
2,133
1.52
%
1.76
%
(0.24)
%
Total source of funds
$
277,036
$
311,401
$
(34,365)
$
(43,421)
$
9,056
Net interest margin/
income on a taxable
equivalent basis (Non-
GAAP)
4.14
%
3.73
%
0.41
%
$
757,782
$
663,868
$
93,914
$
64,074
$
29,840
3.57
%
3.07
%
0.50
%
 
Net interest spread
Taxable equivalent
adjustment
87,602
58,271
29,331
Net interest margin/
income non-taxable
equivalent basis (GAAP)
3.66
%
3.40
%
0.26
%
$
670,180
$
605,597
$
64,583
Note: The changes that are not due solely to volume or
 
rate are allocated to volume and rate based on the
 
proportion of the change in each category.
 
112
[1] Average balances exclude unrealized gains or losses
 
on debt securities available-for-sale and the unrealized
 
loss related to certain securities transferred from
available-for-sale to held-to-maturity.
 
 
113
Provision for Credit Losses - Loans Held-in-Portfolio
 
and Unfunded Commitments
For the quarter ended
 
March 31, 2026, the
 
Corporation recorded a provision for
 
credit losses of $75.8
 
million, an increase of
 
$11.9
million
 
when compared
 
to
 
the same
 
quarter of
 
the previous
 
year.
 
The
 
provision for
 
loan
 
and lease
 
losses
 
was $75.7
 
million, an
increase of
 
$10.5 million,
 
and the
 
provision for
 
unfunded commitments
 
was $0.1
 
million, an
 
unfavorable variance
 
of $1.4
 
million,
mainly driven by higher unfunded commitments in the
 
Popular Bank.
 
As discussed
 
in Note
 
8 to
 
the Consolidated
 
Financial Statements,
 
the Corporation
 
estimates the
 
ACL by
 
weighting the
 
outputs of
optimistic, baseline, and pessimistic scenarios. During the first quarter of 2026, among the three scenarios evaluated
 
to estimate the
ACL, the baseline scenario
 
was assigned the highest probability,
 
followed by the pessimistic scenario,
 
which weight was increased
during 2025 in response to ongoing uncertainty.
The major
 
drivers of
 
the changes
 
in the
 
provision for
 
loan losses
 
during the
 
quarter by
 
business segment
 
when compared
 
to the
same quarter in 2025, were as follows:
 
●
 
In the BPPR segment, the provision for
 
loan losses was $73.3 million, an increase of
 
$20.6 million when compared to the
same quarter
 
in 2025,
 
driven by
 
higher provision
 
expense for
 
the commercial
 
portfolio by
 
$39.1 million,
 
primarily due
 
to
loan modifications, an
 
additional specific reserve to
 
a single borrower
 
in the telecommunications
 
industry,
 
and higher net
charge-offs due to an impairment recorded during the quarter of $11.1 million mainly due to a commercial real
 
estate loan.
Both
 
the
 
borrower
 
with
 
the
 
specific
 
reserve
 
and
 
the
 
commercial
 
real
 
estate
 
loan
 
were
 
classified
 
as
 
NPLs
 
in
 
the
 
third
quarter of
 
2025. Higher
 
provisions were
 
partially offset
 
by decreases
 
of $15.8
 
million and
 
$4.5 million
 
in the
 
consumer
loan and leases portfolios,
 
respectively, showing improvement in credit quality.
●
 
In the Popular U.S. segment, the
 
provision for loans losses was
 
$2.4 million, a decrease of
 
$10.1 million when compared
to the
 
same quarter
 
in 2025. The
 
decrease was primarily
 
driven by lower
 
provision expense in
 
both the commercial
 
and
consumer loan
 
portfolio, with
 
reductions of
 
$7.5 million
 
and $2.6
 
million, respectively.
 
The reduction
 
in the
 
commercial
loan
 
segment
 
was mainly
 
driven by
 
higher qualitative
 
reserves established
 
during the
 
first
 
quarter of
 
2025 to
 
maintain
adequate ACL coverage. The
 
decrease in the consumer
 
loan portfolio was mainly
 
attributable to improvements in overall
credit quality and lower ending balances.
At March 31,
 
2026, the total allowance
 
for credit losses for
 
loans held-in-portfolio amounted to $823.7
 
million, an increase of
 
$15.6
million when
 
compared to
 
December 31, 2025.
 
The ratio
 
of the
 
allowance for credit
 
losses to
 
loans held-in-portfolio was
 
2.10% at
March 31,
 
2026 versus
 
to 2.05%
 
at December
 
31, 2025.
 
Refer to
 
Note 8
 
to the
 
Consolidated Financial
 
Statements for
 
additional
information
 
on
 
the
 
Corporation’s methodology
 
to
 
estimate its
 
ACL.
 
Refer
 
to
 
the
 
Credit
 
Risk
 
section
 
of
 
this
 
MD&A
 
for
 
a
 
detailed
analysis of net charge-offs, non-performing assets, the allowance
 
for credit losses and selected loan losses statistics.
Non-Interest Income
Non-interest income amounted
 
to $165.6 million
 
for the
 
first quarter of
 
2026, an increase
 
of $13.6 million
 
when compared with
 
the
same quarter for the previous year. The variance was primarily
 
due to:
●
 
higher other services fees
 
by $8.4 million mainly
 
due to $5.4 million
 
in higher debit
 
and credit card fees
 
and higher asset
management commissions by $1.2 million; and
●
 
higher other operating income by
 
$3.9 million mainly due
 
to a $4.4 million increase
 
in earnings from an
 
investment under
equity method.
Operating Expenses
Operating expenses for the first quarter of 2026 totaled $467.3 million, a decrease of $3.7 million when compared to the first quarter
of 2025, mainly driven by:
 
 
 
●
 
lower other
 
operating expenses
 
by $8.7
 
million mainly
 
driven by
 
lower reserves
 
for operational
 
losses and
 
lower
pension plan costs due to changes in actuarial assumptions;
 
 
 
 
114
●
 
lower professional fees by $1.3 million due to lower
 
costs associated with regulatory compliance activities;
 
and
●
 
net gains in other
 
real estate owned (OREO) by
 
$1.3 million due to fair
 
value increases as well
 
as higher gains on
sale;
 
 
partially offset by:
 
●
 
higher technology and
 
software expenses, including
 
software amortization, by
 
$5.5 million mainly
 
due to continuing
investments in technology and transformation initiatives;
 
and
●
 
higher personnel costs
 
of $3.4 million
 
mainly due to
 
increase in salaries
 
expenses of $3.9
 
million driven
 
by exempt
employees as well higher valuation of securities held
 
for deferred benefit plans.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
115
Table 3 - Operating Expenses
Quarters ended March 31,
(In thousands)
2026
2025
Variance
Personnel costs:
Salaries
$
134,813
$
130,950
$
3,863
Commissions, incentives and other bonuses
40,185
37,986
2,199
Profit sharing
(1,203)
-
(1,203)
Pension, postretirement and medical insurance
14,896
14,566
330
Other personnel costs, including payroll taxes
27,378
29,211
(1,833)
Total personnel
 
costs
216,069
212,713
3,356
Net occupancy expenses
27,299
27,218
81
Equipment expenses
5,229
5,302
(73)
Other taxes
17,677
18,725
(1,048)
Professional fees
25,553
26,825
(1,272)
Technology and
 
software expenses
89,139
83,668
5,471
Processing and transactional services:
Credit and debit cards
14,206
12,926
1,280
Other processing and transactional services
24,881
24,855
26
Total processing
 
and transactional services
39,087
37,781
1,306
Communications
4,509
4,904
(395)
Business promotion:
Rewards and customer loyalty programs
15,393
16,365
(972)
Other business promotion
7,467
7,310
157
Total business
 
promotion
22,860
23,675
(815)
Deposit insurance
9,917
10,035
(118)
Other real estate owned (OREO) expense (income)
(4,618)
(3,330)
(1,288)
Other operating expenses:
Operational losses
3,975
6,138
(2,163)
All other
10,230
16,761
(6,531)
Total other operating
 
expenses
14,205
22,899
(8,694)
Amortization of intangibles
384
597
(213)
Total operating
 
expenses
$
467,310
$
471,012
$
(3,702)
Income Taxes
For the
 
quarter ended
 
March 31,
 
2026, the
 
Corporation recorded
 
an income
 
tax expense
 
of $46.9
 
million with
 
an ETR
 
of 16.0%,
compared to $45.1 million with
 
an ETR of 20.2% for
 
the same period of
 
year 2025.
 
Lower ETR when compared to
 
the first quarter
of 2025 is driven by higher net exempt income.
At March 31, 2026, the Corporation had a net deferred tax asset amounting to $810.5 million, net of a valuation allowance of $468.3
million. The net deferred tax asset related to the U.S.
 
operations was $223.6 million, net of a valuation
 
allowance of $386.6
 
million.
Refer to Note 26 to the Consolidated Financial
 
Statements for additional information on deferred
 
tax asset balances.
REPORTABLE SEGMENT RESULTS
The Corporation’s
 
reportable segments
 
for managerial
 
reporting purposes
 
consist of
 
Banco Popular
 
de Puerto
 
Rico and
 
Popular
U.S. A Corporate group
 
has also been defined to support the reportable
 
segments.
 
 
For
 
a
 
description
 
and
 
definition
 
of
 
the
 
Corporation’s
 
reportable
 
segments,
 
including
 
additional
 
financial
 
information
 
and
 
the
underlying management accounting process, refer
 
to Note 28 to the Consolidated Financial Statements.
 
 
 
116
The corporate group reported
 
a net income
 
of $4.4 million for
 
the quarter ended March
 
31, 2026, compared with
 
a net loss
 
of $3.6
million
 
for
 
the same
 
quarter of
 
the previous
 
year,
 
mainly
 
due
 
to
 
higher income
 
from
 
equity
 
method investments.
 
There
 
were no
intercompany distributions between the U.S. subsidiaries
 
and the bank holding companies during the
 
first quarters of 2026 or 2025.
Highlights on the earnings results for the reportable
 
segments are discussed below:
Banco Popular de Puerto Rico
 
The Banco
 
Popular de
 
Puerto Rico
 
(“BPPR”) reportable
 
segment’s net
 
income amounted
 
to $204.4
 
million for
 
the quarter
 
ended
March 31,
 
2026, higher
 
by $38.4
 
million when
 
compared to
 
the same
 
quarter of
 
the previous
 
year.
 
The main
 
drivers for
 
a higher
income included:
 
●
 
net interest income of
 
$567.9 million, an increase of
 
$46.1 million, mainly driven by
 
lower deposit cost by $29.4
 
million or
32 basis points.
 
P.R.
 
public deposits costs, which are market linked,
 
decreased by $32.6 million or 66
 
basis points as the
cost was favorably impacted by declines in short-term market rates during
 
2025. Additionally, higher income from loans by
$20.1
 
million
 
attributable
 
to
 
loan
 
growth
 
led
 
by
 
commercial,
 
construction
 
and
 
mortgage
 
portfolios
 
during
 
2025,
 
which
resulted in higher average balances by
 
$1.6 billion when compared to the first
 
quarter of 2025. In addition, higher
 
income
from
 
investment securities
 
by $16.7
 
million or
 
16
 
basis points
 
contributed to
 
higher net
 
interest income,
 
due in
 
part to
higher investment activity in higher yielding U.S.
 
Treasury securities. This was partially offset by lower income from money
market investments by
 
$20.2 million driven
 
by lower average
 
balances by $1.2
 
billion driven by
 
the deployment of
 
funds
for loan growth and investments activity,
 
and lower yields by 78 basis points due to declining short-term market rates. Net
interest margin
 
expanded 22
 
basis points
 
to 3.85%
 
when compared
 
to the
 
same quarter
 
of 2025
 
drive by
 
lower deposit
costs;
 
●
 
higher non-interest income by $7.3 million mainly due to higher service fees by $7.0 million mainly due to higher debit and
credit card fees due to higher transaction volume, and
 
higher asset management fees;
 
●
 
lower
 
operating
 
expenses
 
by
 
$2.2
 
million
 
mostly
 
due
 
to
 
lower
 
operational losses
 
by
 
$2.0
 
million
 
mainly
 
related
 
to
 
the
mortgage servicing loss
 
reserves and higher gains
 
on repossessed unit
 
sales by $1.3
 
million, lower professional
 
fees by
$1.1 million, partially
 
offset by higher
 
technology and software expenses
 
by $1.6 million due
 
to continuing investments in
technology
 
and
 
transformation initiatives,
 
higher
 
personnel costs
 
by
 
$1.4
 
million
 
mainly
 
due
 
to
 
an
 
increase
 
in
 
salaries
expenses driven by exempt employees,
 
and higher processing and transactional fees
 
expenses by $1.3 million; and
●
 
lower income tax expense by $2.9 million due
 
mainly to higher exempt income;
 
partially offset by:
●
 
provision for credit
 
losses increased by
 
$20.6 million to
 
$73.3 million.
 
Refer to section
 
Provision for Credit
 
Losses-Loans
Held-in-Portfolio and Unfunded Commitments in this MD&A for more discussion over the drivers
 
of the provision for credit
losses by business segment.
 
Popular U.S.
For the quarter ended March 31, 2026, the
 
reportable segment of Popular U.S. reported a
 
net income of $37.0 million, compared
with a net income of $14.8 million for the
 
same quarter of the previous year. The main drivers for higher net
 
income are the
following:
●
 
net interest income of $111.7 million, an increase of $18.8 million, driven by higher interest income
 
from loans by $15.4
million or 22 basis points, primarily attributable
 
to loan growth coupled with lower deposit cost driven
 
by repricing in most
deposit products, most notably in online savings
 
and time deposits. Additionally, higher income from investment securities
by $3.9 million in part due to higher investment
 
activity in U.S. Treasury securities. This was partially offset by
 
lower
income from money market investments by $7.4
 
million due to lower average balances and an
 
increase in short-term
 
 
117
borrowings expense by $4.3 million resulting from
 
higher FHLB advances when compared
 
to the same period of 2025.
Net interest margin at 3.15% expanded 41
 
basis points, driven by the earning assets
 
mix and lower deposit costs;
 
and
●
 
provision for loan losses was $2.4 million, a decrease
 
of $10.1 million when compared to the same quarter
 
in 2025. Refer
to section Provision for Credit Losses-Loans Held-in-Portfolio
 
and Unfunded Commitments in this MD&A for
 
more
discussion over the drivers of the provision for
 
credit losses by business segment;
partially offset by:
●
 
higher income tax expense by $8.0 million due
 
to higher income before tax.
STATEMENT
 
OF FINANCIAL CONDITION ANALYSIS
 
Assets
The Corporation’s total
 
assets were $76.1
 
billion at March
 
31, 2026, compared
 
to $75.3 billion
 
at December 31,
 
2025. Higher total
assets by $782.8
 
million was driven
 
by an increase
 
in AFS securities
 
at both BPPR
 
and PB segments,
 
money market investments
and
 
other
 
assets,
 
partially
 
offset
 
by
 
a
 
decrease
 
in
 
HTM
 
securities
 
and
 
lower
 
loan
 
balances
 
at
 
PB.
 
Refer
 
to
 
the
 
Consolidated
Statements of Financial Condition included in this
 
report and to the following narrative for
 
additional information.
Money market investments and investment securities
Money market investments increased by $29.2
 
million as of March 31,
 
2026, when compared to December 31,
 
2025, mainly driven
by
 
higher deposit
 
balances.
 
AFS securities
 
increased $1.2
 
billion,
 
driven by
 
investment in
 
U.S. treasury
 
securities of
 
$1.3 billion,
partially offset by
 
maturities and principal paydowns, mainly
 
in mortgage-backed securities (“MBS”) and higher
 
unrealized losses in
AFS securities
 
of $37.9
 
million. HTM
 
securities decreased by
 
$365.0 million
 
driven by
 
maturities and
 
principal paydowns,
 
partially
offset by
 
the accretion of
 
$46.9 million of the
 
discount related to
 
U.S. Treasury securities
 
previously reclassified from AFS
 
to HTM.
Refer to Note
 
5 and to
 
Note 6 to
 
the Consolidated Financial Statements
 
for additional information with
 
respect to the
 
Corporation’s
debt securities available-for-sale and held-to-maturity.
Loans
Refer to Table
 
4 for a
 
breakdown of the Corporation’s
 
loan portfolio. Also, refer
 
to Note 7 in
 
the Consolidated Financial Statements
for detailed information about the Corporation’s loan portfolio
 
composition and loan purchases and sales.
 
Loans held-in-portfolio
 
were $39.3
 
billion at
 
March 31,
 
2026, a
 
slight decrease
 
of $37.8
 
million when
 
compared to
 
December 31,
2025.
 
In
 
the PB
 
segment loan
 
balances decreased
 
by
 
$56.1 million
 
across the
 
construction, mortgage
 
and
 
consumer portfolios,
mainly
 
due
 
to
 
paydowns
 
in
 
the
 
construction
 
segment
 
and
 
runoff
 
from
 
the
 
exited
 
residential
 
mortgage
 
business.
 
In
 
the
 
BPPR
segment, loan
 
balances increased by
 
$18.3 million with
 
modest growth in
 
the mortgage
 
and commercial segments,
 
partially offset
by lower auto loans and leases lending activities.
At
 
March
 
31,
 
2026,
 
the
 
Corporation’s
 
loans
 
to
 
non-depository
 
financial
 
institutions
 
(‘’NDFIs’’)
 
amounted
 
to
 
$540.8
 
million,
 
an
decrease of $4.2 million, compared to December 31, 2025. At March 31, 2026, the Corporation’s exposure to NDFIs was composed
of approximately $266.1 million to insurance companies
 
for general corporate purposes unrelated to lending activities,
 
$105.5 million
related to mortgage
 
credit intermediaries, and $169.3
 
million to consumer and
 
commercial credit intermediaries. All
 
loans to NDFIs
are current in their contractual payments and carry a
 
‘pass’ rating.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
118
Table 4 - Loans Ending Balances
(In thousands)
March 31, 2026
December 31, 2025
Variance
Loans held-in-portfolio:
Commercial
 
 
Commercial multi-family
$
2,427,295
$
2,455,790
$
(28,495)
 
Commercial real estate non-owner occupied
5,543,451
5,543,284
167
 
Commercial real estate owner occupied
3,212,356
3,153,080
59,276
 
Commercial and industrial
8,565,559
8,607,412
(41,853)
Total Commercial
19,748,661
19,759,566
(10,905)
Construction
1,674,193
1,674,899
(706)
Mortgage
8,712,361
8,649,440
62,921
Leasing
1,986,165
2,001,365
(15,200)
Consumer
 
Credit cards
 
1,214,199
1,256,717
(42,518)
 
Home equity lines of credit
79,764
78,692
1,072
 
Personal
 
1,913,281
1,906,228
7,053
 
Auto
3,783,904
3,819,812
(35,908)
 
Other
177,174
180,799
(3,625)
Total Consumer
 
7,168,322
7,242,248
(73,926)
Total loans held-in
 
-portfolio
$
39,289,702
$
39,327,518
$
(37,816)
Loans held-for-sale:
 
Mortgage
$
5,603
$
9,998
$
(4,395)
Total loans held-for-sale
$
5,603
$
9,998
$
(4,395)
Total loans
$
39,295,305
$
39,337,516
$
(42,211)
 
 
119
Other assets
Other assets amounted to
 
$1.7
 
billion at March 31,
 
2026, an increase of
 
$25.8 million when compared to
 
December 31, 2025. The
variance
 
was
 
mainly
 
driven
 
by
 
an
 
increase
 
of
 
$18.6
 
million
 
in
 
investments under
 
the
 
equity
 
method,
 
primarily due
 
to
 
the
 
equity
pickup
 
from
 
our
 
investment
 
in
 
BHD,
 
and
 
an
 
increase
 
in
 
capitalized
 
software
 
costs
 
of
 
$10.6
 
million
 
related
 
to
 
technology
modernization, partially offset by lower prepaid taxes of $9.1 million.
 
Refer to Note 10 to the Consolidated Financial Statements for a
breakdown
 
of
 
the
 
principal
 
categories
 
that
 
comprise
 
the
 
caption
 
of
 
“Other
 
Assets”
 
in
 
the
 
Consolidated
 
Statements
 
of
 
Financial
Condition at March 31, 2026 and December 31,
 
2025.
 
Liabilities
The Corporation’s total
 
liabilities were $69.8 billion
 
at March 31,
 
2026, an increase of
 
$720.7 million, when compared to
 
December
31, 2025. The following is a discussion of
 
the significant changes in liabilities.
Deposits and Borrowings
Total Deposits
The Corporation’s deposits
 
totaled $67.6 billion as
 
of March 31,
 
2026, compared to $66.2
 
billion as of
 
December 31, 2025. Ending
deposit balances
 
increased by
 
$1.4 billion
 
mainly from
 
higher retail and
 
commercial deposits
 
in BPPR
 
in part
 
due to
 
seasonal tax
refunds. Excluding P.R.
 
public deposits, customer deposits increased by
 
$1.2 billion. Average deposits increased
 
by $1.1 billion, or
$383.5 million when excluding P.R. public deposits.
At the
 
end of
 
the first
 
quarter of
 
2026, Puerto
 
Rico public
 
deposits were
 
$19.7 billion,
 
representing 30%
 
of total
 
deposits and
 
are
expected
 
to
 
continue
 
to
 
range
 
in
 
the
 
short
 
term
 
between
 
$18
 
billion
 
and
 
$20
 
billion.
 
However,
 
the
 
rate
 
at
 
which
 
public
 
deposit
balances may change is uncertain and difficult to predict. The amount
 
and timing of any such change is likely to be impacted
 
by, for
example,
 
the level
 
of
 
federal assistance
 
and speed
 
at
 
which it
 
is distributed,
 
the
 
use
 
of
 
local funds
 
to
 
cover
 
federal
 
assistance
programs during the U.S. government shutdown, the financial condition, liquidity and cash management practices
 
of the Puerto Rico
Government and its instrumentalities,
 
and the implementation of fiscal and
 
debt adjustment plans approved pursuant to
 
PROMESA
or other actions mandated by the Fiscal Oversight and Management Board for Puerto Rico (the “Oversight Board”). Additionally,
 
the
Trump Administration is conducting a review of federal funding, which could entail a reduction in federal funding available for Puerto
Rico. P.R
 
public deposits costs
 
are generally indexed
 
to changes in
 
short-term market rates
 
with a
 
one-quarter lag, in
 
accordance
with contractual terms. As
 
a result, these deposits’ costs
 
have typically lagged variable
 
asset repricing. These deposits require
 
that
the bank pledge high credit quality securities as
 
collateral; therefore, liquidity risks arising from
 
deposit outflows are lower.
 
The volume and cost of P.R.
 
public deposits and the proportion of high-cost deposits in the U.S, directly impact the balance and mix
of earning assets and therefore represent a key
 
factor in the Corporation’s ability to expand its net
 
interest margin.
 
Refer to Table 5 for a breakdown of the Corporation’s deposits at March 31, 2026 and December
 
31, 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
120
Table 5 - Deposits Ending Balances
(In thousands)
March 31, 2026
December 31, 2025
Variance
Deposits excluding P.R.
 
public deposits:
 
Demand deposits
$
15,778,435
$
15,298,712
$
479,723
 
Savings, NOW and money market deposits (non-brokered)
23,208,340
22,655,936
552,404
 
Savings, NOW and money market deposits (brokered)
82,417
87,566
(5,149)
 
Time deposits (non-brokered)
7,958,260
7,861,848
96,412
 
Time deposits (brokered CDs)
914,526
866,772
47,754
Sub-total deposits excluding P.R.
 
public deposits
47,941,978
46,770,834
1,171,144
P.R. public
 
deposits:
 
Demand deposits
 
[1]
11,967,888
11,534,301
433,587
 
Savings, NOW and money market deposits (non-brokered)
6,828,306
7,134,217
(305,911)
 
Time deposits (non-brokered)
873,144
750,741
122,403
Sub-total P.R.
 
public deposits
19,669,338
19,419,259
250,079
Total deposits
$
67,611,316
$
66,190,093
$
1,421,223
[1] Includes interest bearing demand deposits.
 
Borrowings
The Corporation’s borrowings totaled $1.1 billion at
 
March 31, 2026, a decrease of $329.0 million
 
when compared to December 31,
2025.
 
The
 
decrease
 
was
 
mainly
 
related
 
to
 
lower
 
FHLB
 
advances
 
by
 
$325.0
 
million,
 
mainly
 
at
 
PB.
 
Refer
 
to
 
Note
 
13
 
to
 
the
Consolidated Financial
 
Statements for
 
detailed information
 
on the
 
Corporation’s borrowings.
 
Also, refer
 
to the
 
Liquidity section
 
in
this MD&A for additional information on the Corporation’s
 
funding sources.
Stockholders’ Equity
Stockholders’ equity totaled $6.3 billion at March 31, 2026, an increase of $62.0 million when compared to December 31, 2025. The
increase was principally due to
 
net income for the
 
quarter ended March 31, 2026
 
of $245.7 million, coupled with
 
the after-tax effect
of the amortization of unrealized losses from securities previously reclassified to HTM of $37.5 million, partially offset by an increase
in
 
treasury stock
 
of
 
$152.4
 
million, mainly
 
due
 
to
 
common
 
stock
 
repurchases, the
 
common
 
and
 
preferred dividends
 
declared
 
of
$48.9 million, and
 
an increase in net
 
unrealized losses in the
 
portfolio of AFS
 
securities of $25.3
 
million. Refer to
 
the Consolidated
Statements of Financial Condition, Comprehensive Income and Changes in
 
Stockholders’ Equity for information on the composition
of stockholders’ equity.
 
During the quarter ended March 31, 2026, Popular repurchased 1,555,398 shares of common stock for $155.2 million at an average
price of $134.31 per share. As of March
 
31, 2026, $126.0 million remained available for stock repurchase under the currently active
authorization.
The composition of the Corporation’s financing to total assets
 
at March 31, 2026 and December 31, 2025
 
is included in Table 6.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
121
Table 6 - Financing to Total
 
Assets
March 31,
December 31,
 
% (decrease) increase
% of total assets
(Dollars in millions)
2026
2025
from 2025 to 2026
2026
2025
Non-interest-bearing core deposits
$
15,785
$
15,304
3.1
%
20.7
%
20.3
%
Interest-bearing core deposits
45,872
46,017
(0.3)
60.3
61.1
Interest-bearing other deposits
5,954
4,869
22.3
7.8
6.4
Repurchase agreements
35
39
(10.3)
-
0.1
Other short-term borrowings
350
650
(46.2)
0.5
0.9
Notes payable
735
760
(3.3)
1.0
1.0
Other liabilities
1,089
1,460
(25.4)
1.4
1.9
Stockholders’ equity
6,311
6,249
1.0
8.3
8.3
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
122
CAPITAL
Regulatory Capital
The Corporation, BPPR and PB
 
are subject to regulatory capital
 
requirements established by the Federal Reserve Board.
 
The risk-
based
 
capital
 
standards
 
applicable
 
to
 
the
 
Corporation,
 
BPPR
 
and
 
PB
 
(“Basel
 
III
 
capital
 
rules”)
 
are
 
based
 
on
 
the
 
final
 
capital
framework for strengthening international capital standards, known
 
as Basel III, of the Basel Committee on Banking Supervision.
 
As
of March 31, 2026, the Corporation’s, BPPR’s and
 
PB’s capital ratios continue to exceed the minimum requirements for being
 
“well-
capitalized”.
 
The risk-based
 
capital ratios
 
presented in
 
Table
 
7,
 
which include
 
common equity
 
tier 1,
 
Tier
 
1 capital,
 
total capital
 
and leverage
capital as of March 31, 2026 and December 31,
 
2025.
Table 7 - Capital Adequacy
 
Data
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
 
March 31, 2026
 
 
December 31, 2025
 
Common equity tier 1 capital:
 
 
 
 
 
 
Common stockholders' equity - U.S. GAAP basis
$
6,288,943
$
6,226,936
AOCI related adjustments due to opt-out election
1,083,150
1,096,805
Goodwill, net of associated deferred tax liability (DTL)
(637,705)
(639,734)
Intangible assets, net of associated DTLs
(4,692)
(5,076)
Deferred tax assets and other deductions
 
(209,380)
(215,404)
Common equity tier 1 capital
$
6,520,316
$
6,463,527
Additional tier 1 capital:
Preferred stock
22,143
22,143
Additional tier 1 capital
$
22,143
 
$
22,143
Tier 1 capital
$
6,542,459
 
$
6,485,670
 
Tier 2 capital:
Trust preferred securities subject to phase in as
 
tier 2
192,674
192,674
Other inclusions (deductions), net
515,782
517,723
Tier 2 capital
$
708,456
$
710,397
Total risk-based capital
 
$
7,250,915
 
$
7,196,067
 
Minimum total capital requirement to be well capitalized
$
4,095,067
 
$
4,112,375
 
Excess total capital over minimum well capitalized
$
3,155,848
 
$
3,083,692
 
Total risk-weighted
 
assets
$
40,950,669
 
$
41,123,753
 
Total assets for leverage
 
ratio
$
76,104,777
 
$
74,661,894
 
Risk-based capital ratios:
 
 
 
 
 
 
Common equity tier 1 capital
15.92
%
15.72
%
 
Tier 1 capital
 
 
15.98
 
15.77
 
Total capital
 
17.71
 
 
17.50
 
 
Tier 1 leverage
 
8.60
 
 
8.69
 
123
The Basel
 
III capital rules
 
provide that a
 
depository institution is
 
deemed to be
 
well capitalized if
 
it maintains a
 
leverage ratio of
 
at
least 5%,
 
a common equity
 
Tier 1
 
ratio of
 
at least 6.5%,
 
a Tier
 
1 capital ratio
 
of at least
 
8% and a
 
total risk-based
 
ratio of at
 
least
10%. The
 
Corporation, BPPR and
 
PB leverage
 
ratio, common equity
 
Tier 1
 
ratio and
 
Tier 1
 
capital ratio,
 
respectively as of
 
March
31, 2026, continue to exceed the minimum requirements
 
for being “well-capitalized” under the Basel III
 
capital rules.
 
The increase in the common equity Tier I capital ratio, Tier I capital ratio, and total capital ratio as of March
 
31, 2026 as compared to
December 31, 2025 was mainly due to
 
the quarter’s earnings,
 
and lower risk weighted assets driven by
 
the decrease in loans held-
in-portfolio and lower non-performing
 
loans held-in-portfolio, partially offset
 
by the repurchase of
 
common stock and
 
common stock
dividends. The decrease in the leverage ratio was driven
 
by higher total assets which are impacted
 
by zero-risk weighted assets that
did not have a significant impact on the risk
 
weighted assets, partially offset by the quarter’s earnings.
 
Reconciliation to Tangible Common Equity and Tangible Assets
Table
 
8 provides
 
a reconciliation
 
of total
 
stockholders’ equity
 
to tangible
 
common equity
 
and total
 
assets to
 
tangible assets
 
as of
March 31, 2026, and December 31, 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
124
Table 8 - Reconciliation of Tangible
 
Common Equity and Tangible
 
Assets
(In thousands, except share or per share information)
March 31, 2026
December 31, 2025
Total stockholders’
 
equity
$
6,311,086
$
6,249,079
Less: Preferred stock
(22,143)
(22,143)
Less: Goodwill
(789,954)
(789,954)
Less: Other intangibles
(4,692)
(5,076)
Total tangible common
 
equity
$
5,494,297
$
5,431,906
Total assets
 
$
76,131,018
$
75,348,267
Less: Goodwill
(789,954)
(789,954)
Less: Other intangibles
(4,692)
(5,076)
Total tangible assets
$
75,336,372
$
74,553,237
Tangible common
 
equity to tangible assets
7.29
%
7.29
%
Common shares outstanding at end of period
64,654,788
65,719,385
Tangible book value
 
per common share
$
84.98
$
82.65
Quarterly average
Total stockholders’
 
equity
 
$
6,289,337
$
6,938,571
[1]
Less: Preferred Stock
(22,143)
(22,143)
Less: Goodwill
(789,954)
(789,954)
Less: Other intangibles
(4,944)
(5,328)
Total tangible equity
 
before adjusting for the impact of unrealized losses
on AFS securities including those transferred to HTM
$
5,472,296
$
6,121,146
Return on average tangible common equity before adjusting
 
for the
impact of unrealized losses on AFS securities including
 
those transferred
to HTM
18.18
%
15.14
%
Add: Average unrealized losses on AFS securities
743,809
56,761
Add: Average unrealized losses on AFS securities
 
transferred to HTM
221,114
259,058
Total tangible equity
 
after add back of impact of unrealized losses on AFS
securities, including those transferred to HTM
$
6,437,219
$
6,436,965
Return on average tangible common equity after add back
 
of impact of
unrealized losses on AFS securities including those transferred
 
to HTM
(''ROTCE'')
15.46
%
14.39
%
 
[1] Average balances exclude certain unrealized
 
gains or losses on debt securities available-for-sale.
 
125
RISK MANAGEMENT
Market / Interest Rate Risk
The Corporation’s assets that are mainly subject to market valuation risk are debt securities classified as available-for-sale. Refer to
Notes 5 and 6 to
 
the Consolidated Financial Statements for further information on
 
the debt securities available-for-sale and held-to-
maturity portfolios.
 
Debt securities
 
classified as
 
available-for-sale and
 
held-to-maturity amounted
 
to
 
$21.7 billion
 
and
 
$7.0 billion,
respectively, as
 
of March 31, 2026.
 
Other assets subject to market risk
 
include mortgage servicing rights ("MSRs") with
 
a fair value
of $94.2 million as of March 31, 2026.
 
Interest Rate Risk (“IRR”)
The Corporation’s net interest income is subject
 
to various categories of interest rate risk,
 
including repricing, basis, yield curve and
option risks.
 
In managing
 
interest rate
 
risk, management may
 
alter the
 
mix of
 
floating and
 
fixed rate
 
assets and
 
liabilities, change
pricing
 
schedules,
 
adjust
 
maturities
 
through
 
sales
 
and
 
purchases
 
of
 
investment
 
securities,
 
and
 
enter
 
into
 
derivative
 
contracts,
among other alternatives.
 
Management utilizes various tools to assess IRR, including Net Interest
 
Income (“NII”) simulation modeling, static gap analysis, and
Economic Value of Equity (“EVE”) to monitor the risk arising from the dynamic characteristics of assets and liabilities subject to
 
IRR.
The
 
three
 
methodologies complement
 
each
 
other
 
and
 
are
 
used jointly
 
in
 
the
 
evaluation of
 
the
 
Corporation’s IRR.
 
NII simulation
modeling, by legal entity and on a consolidated basis, is prepared for a five-year period, which in conjunction
 
with the EVE analysis,
provides management a better view of long-term
 
IRR.
The Corporation processes NII
 
simulations under interest rate
 
scenarios in which the
 
yield curve is assumed
 
to rise and
 
decline by
the same magnitude
 
(parallel shifts). The
 
rate scenarios considered in
 
these market risk
 
simulations include instantaneous parallel
changes of
 
-100,
 
-200, +100,
 
and +200
 
basis points
 
during the
 
succeeding twelve-month
 
period. Assumptions
 
included in
 
these
analyses
 
include
 
that
 
the
 
balance
 
sheet
 
remains
 
flat,
 
relative
 
levels
 
of
 
market
 
interest
 
rates
 
across
 
all
 
yield
 
curve
 
points
 
and
indexes, interest rate spreads, loan
 
prepayments and deposit elasticity.
 
Thus, they should not be
 
relied upon as indicative of
 
actual
results
 
and
 
do
 
not
 
contemplate
 
actions
 
that
 
management
 
may
 
engage
 
in
 
as
 
a
 
response
 
to
 
future
 
changes
 
in
 
interest
 
rates.
Additionally,
 
the Corporation
 
is also
 
subject to
 
the risk
 
inherent in
 
the use
 
of different
 
rate indexes
 
for the
 
repricing of
 
assets and
liabilities, as well as
 
the risk of pricing lags
 
due to contractual or timing
 
differences between the market and
 
management response
to
 
changes in
 
the
 
rate environment.
 
These forward-looking
 
computations are
 
management’s best
 
estimate based
 
on known
 
and
available information and actual results may differ.
 
The following
 
table presents
 
the results
 
of the
 
simulations at
 
March 31,
 
2026 and
 
December 31,
 
2025, assuming
 
a static
 
balance
sheet and parallel changes over flat spot rates over
 
a one-year time horizon:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
126
Table 9 - Net Interest Income Sensitivity
 
(One Year Projection)
March 31, 2026
December 31, 2025
(Dollars in thousands)
Amount Change
Percent Change
Amount Change
Percent Change
Change in interest rate
+200 basis points
17,583
0.61
(7,520)
(0.27)
+100 basis points
8,316
0.29
(4,379)
(0.16)
-100 basis points
(10,053)
(0.35)
2,691
0.10
-200 basis points
(17,168)
(0.60)
7,488
0.27
As
 
of
 
March
 
31,
 
2026,
 
NII
 
simulations
 
showed
 
that
 
the
 
Corporation’s
 
sensitivity
 
position
 
was
 
asset
 
sensitive.
 
Compared
 
to
 
the
results as of December 31, 2025, the variation in sensitivity and the resulting profile was
 
mainly due to an increase in U.S. Treasury
Bills as a result
 
of a rise in
 
non-interest bearing and low-cost interest-bearing deposits in
 
Puerto Rico offset in
 
part by the purchase
of
 
two-to-three-year
 
U.S.
 
Treasury
 
Notes.
 
The
 
profile
 
reflects
 
that
 
in
 
rising
 
rate
 
scenarios,
 
Popular’s
 
net
 
interest
 
income
 
would
increase
 
during
 
the
 
one-year
 
horizon
 
due
 
to
 
the
 
larger
 
volume
 
of
 
assets
 
repricing
 
and
 
generating
 
more
 
interest
 
income,
 
while
interest expense increases modestly due to the high
 
proportion of low-cost deposits.
The
 
Corporation’s
 
loan
 
and
 
investment
 
portfolios
 
are
 
subject
 
to
 
prepayment
 
risk.
 
Prepayment
 
risk
 
also
 
could
 
have
 
a
 
significant
impact on the duration of mortgage-backed securities
 
and collateralized mortgage obligations.
Trading
 
The Corporation
 
engages in
 
trading activities
 
in the
 
ordinary course
 
of business
 
at its
 
subsidiaries, BPPR
 
and Popular
 
Securities.
Popular Securities’
 
trading activities
 
consist primarily
 
of market-making
 
activities to
 
meet expected
 
customers’ needs
 
related to
 
its
retail brokerage business, and purchases and sales of
 
U.S. Government and government sponsored securities with the objective of
realizing gains
 
from expected
 
short-term price
 
movements. BPPR’s
 
trading activities consist
 
primarily of
 
holding U.S.
 
Government
sponsored
 
mortgage-backed
 
securities
 
and
 
economic
 
hedges
 
of
 
the
 
related
 
market
 
risk
 
with
 
“TBA”
 
(to-be-announced)
 
market
transactions. In
 
addition, BPPR
 
uses forward
 
contracts or
 
TBAs that
 
have characteristics
 
similar to
 
that of
 
the forecasted
 
security
and its conversion timeline to hedge its securitization
 
pipeline.
At March 31, 2026, the Corporation held trading securities with a fair value of $30.4 million,
 
representing 0.04% of the Corporation’s
total assets, compared with $36.6 million and 0.05%,
 
respectively, at December 31, 2025.
The Corporation’s trading activities are
 
limited by internal policies. For each
 
of the two subsidiaries, the
 
market risk assumed under
trading
 
activities
 
is
 
measured
 
by
 
the
 
5-day
 
net
 
value-at-risk
 
(“VAR”),
 
with
 
a
 
confidence
 
level
 
of
 
99%.
 
The
 
VAR
 
measures
 
the
maximum estimated loss that may occur over a
 
5-day holding period, given a 99% probability. .
 
In the opinion of management, the size and composition
 
of the trading portfolio does not represent
 
a significant source of market risk
for the Corporation.
Liquidity
Liquidity Risk Management Process
The Corporation
 
has adopted
 
policies and
 
limits to
 
monitor the
 
Corporation’s liquidity
 
position and
 
that of
 
its banking
 
subsidiaries.
Refer to
 
the Enterprise
 
Risk Management
 
section of
 
Management’s Discussion
 
and Analysis
 
included in
 
the 2025
 
Form 10-K
 
for
information on the framework
 
in place to monitor,
 
review, and approve
 
policies to measure, limit and
 
manage funding activities and
strategies
 
impacting
 
liquidity
 
risk.
 
Additionally,
 
contingency
 
funding
 
plans
 
are
 
used
 
to
 
model
 
various
 
stress
 
events
 
of
 
different
magnitudes that
 
affect different
 
time horizons,
 
to assist
 
management in
 
evaluating the
 
size of
 
the liquidity
 
buffers needed
 
if those
events occur. However,
 
such models may not predict
 
accurately how the market and customers
 
might react to every
 
event and are
dependent on
 
many assumptions.
 
The objective
 
of effective
 
liquidity management
 
is to
 
ensure that
 
the Corporation
 
has sufficient
 
 
127
liquidity
 
to
 
meet
 
all
 
its
 
financial
 
obligations,
 
finance
 
expected
 
future
 
growth,
 
fund
 
planned
 
capital
 
distributions
 
and
 
maintain
 
a
reasonable safety margin for cash needs under both
 
normal and stressed market conditions.
Sources of Liquidity
Deposits, including
 
customer deposits,
 
brokered deposits
 
and public
 
funds deposits,
 
continue to
 
be the
 
most significant
 
source of
funds for the Corporation, representing
 
89% and 88% of funding of the Corporation’s total assets at March 31, 2026 and December
31, 2025,
 
respectively. The
 
ratio of
 
total ending
 
loans to
 
deposits was 58%
 
and 59%
 
at March
 
31, 2026
 
and December
 
31, 2025,
respectively.
 
In addition to
 
traditional deposits, the
 
Corporation maintains borrowing arrangements, which
 
amounted to $1.1
 
billion
in
 
outstanding
 
balances
 
at
 
March
 
31,
 
2026
 
(December
 
31,
 
2025
 
-
 
$1.4
 
billion).
 
A
 
detailed
 
description
 
of
 
the
 
Corporation’s
borrowings,
 
including
 
their
 
terms,
 
is
 
included
 
in
 
Note
 
13
 
to
 
the
 
Consolidated
 
Financial
 
Statements.
 
Also,
 
the
 
Consolidated
Statements of
 
Cash Flows
 
in the
 
accompanying Consolidated Financial
 
Statements provide information
 
on the
 
Corporation’s cash
inflows and outflows.
 
The
 
following
 
sections
 
provide
 
further
 
information
 
on
 
the
 
Corporation’s
 
major
 
funding
 
activities
 
and
 
needs,
 
as
 
well
 
as
 
the
 
risks
involved in these activities.
Banking Subsidiaries
Primary
 
sources of
 
funding
 
for the
 
Corporation’s
 
banking subsidiaries
 
(BPPR and
 
PB
 
or,
 
collectively,
 
“the banking
 
subsidiaries”)
include
 
retail,
 
commercial
 
and
 
public
 
sector
 
deposits,
 
brokered
 
deposits,
 
unpledged
 
investment
 
securities,
 
mortgage
 
loan
securitization and, to a lesser extent, loan sales. In
 
addition, the Corporation maintains borrowing facilities with the FHLB and at the
discount window
 
of the
 
Federal Reserve
 
Bank of
 
New York
 
(the “FRB”)
 
and has
 
a considerable
 
amount of
 
collateral pledged
 
that
can be used to raise funds under these facilities.
At March 31,
 
2026, the Corporation’s
 
available liquidity increased to
 
$27.7 billion from
 
$27.0 billion on
 
December 31, 2025.
 
During
the first
 
quarter of 2026,
 
the Corporation had
 
no material incremental
 
use of
 
its available liquidity
 
sources. The liquidity
 
sources of
the Corporation at March 31, 2026 are presented
 
in Table 10 below:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
128
Table 10 - Liquidity Sources
March 31, 2026
December 31, 2025
(In thousands)
BPPR
Popular U.S.
Total
BPPR
Popular U.S.
Total
Unpledged securities and unused funding
sources:
Money market (excess funds at the
Federal Reserve Bank)
$
3,635,635
$
1,010,262
$
4,645,897
$
3,595,806
$
1,020,478
$
4,616,284
Unpledged securities
5,617,332
1,051,193
6,668,525
5,215,981
1,057,129
6,273,110
FHLB borrowing capacity
3,315,007
927,693
4,242,700
3,291,672
692,744
3,984,416
Discount window of the Federal Reserve
Bank borrowing capacity
8,365,380
3,788,737
12,154,117
8,472,866
3,644,486
12,117,352
Total available liquidity
$
20,933,354
$
6,777,885
$
27,711,239
$
20,576,325
$
6,414,837
$
26,991,162
Refer
 
to
 
Note
 
13
 
to
 
the
 
Consolidated
 
Financial
 
Statements
 
for
 
additional
 
information
 
of
 
the
 
Corporation’s
 
borrowing
 
facilities
available through its banking subsidiaries.
 
The principal
 
uses of
 
funds for
 
the banking
 
subsidiaries include
 
loan originations,
 
investment portfolio
 
purchases, loan
 
purchases
and repurchases, repayment of outstanding obligations (including deposits), advances on certain serviced portfolios and operational
expenses. Also, the
 
banking subsidiaries assume liquidity
 
risk related to collateral
 
posting requirements for certain
 
activities mainly
in
 
connection
 
with
 
contractual
 
commitments,
 
recourse
 
provisions,
 
servicing
 
advances,
 
derivatives
 
and
 
credit
 
card
 
licensing
agreements.
 
The banking
 
subsidiaries maintain
 
sufficient funding
 
capacity to
 
address large
 
increases in
 
funding requirements
 
such as
 
deposit
outflows.
 
The
 
Corporation has
 
established
 
liquidity
 
guidelines
 
that
 
require
 
the
 
banking
 
subsidiaries
 
to
 
have
 
sufficient
 
liquidity
 
to
cover all short-term borrowings and a portion of deposits.
 
Deposits are
 
a key
 
source of
 
funding. Refer
 
to Table
 
5 for
 
a breakdown
 
of deposits
 
by major
 
types. Core
 
deposits are
 
generated
from a large base of consumer, corporate and public sector customers. Core deposits
 
include certificates of deposit under $250,000,
all
 
interest-bearing
 
transactional
 
deposit
 
accounts,
 
non-interest-bearing
 
deposits,
 
and
 
savings
 
deposits.
 
Core
 
deposits
 
exclude
brokered
 
deposits
 
and
 
certificates
 
of
 
deposit
 
over
 
$250,000.
 
Core
 
deposits,
 
excluding
 
P.R.
 
public
 
deposits,
 
which
 
are
 
fully
collateralized, have
 
historically provided
 
the Corporation
 
with a
 
sizable source
 
of relatively
 
stable and
 
low-cost funds.
 
P.R.
 
public
deposits, while linked to market interest rates,
 
provide a stable source of funding with
 
an attractive earning spread. As of March
 
31,
2026, total Puerto Rico public sector deposits were
 
$19.7 billion, compared to $19.4 billion at
 
December 31, 2025.
Core deposits
 
represent 91%
 
of total
 
deposits at
 
$61.7 million,
 
as of
 
March 31,
 
2026, compared
 
with 92%
 
at
 
$60.9 billion
 
as
 
of
December
 
31,
 
2025.
 
Core
 
deposits
 
financed
 
85%
 
of
 
the
 
Corporation’s
 
earning
 
assets
 
at
 
March
 
31,
 
2026,
 
compared
 
to
 
85%
 
at
December 31, 2025.
The
 
Corporation
 
had
 
$1.0
 
billion
 
in
 
brokered
 
deposits
 
at
 
March
 
31,
 
2026,
 
which
 
financed
 
approximately
 
1%
 
of
 
its
 
total
 
assets
(December 31, 2025 - $1.0 billion and 1%,
 
respectively).
The distribution by maturity of certificates of deposit with denominations of $250,000 and over at March 31, 2026 is presented in the
table that follows:
 
 
 
 
 
 
 
 
 
 
129
Table 11
 
- Distribution by Maturity of Certificates of Deposit
 
of $250,000 and Over
(In thousands)
3 months or less
$
2,600,756
Over 3 to 12 months
1,109,024
Over 1 year to 3 years
299,828
Over 3 years
119,622
Total
$
4,129,230
As of March
 
31, 2026, the
 
banking subsidiaries had sufficient
 
current and projected
 
liquidity sources to meet
 
their anticipated cash
flow obligations, as well as special needs and off-balance sheet commitments,
 
in the ordinary course of business and have sufficient
liquidity
 
resources
 
to
 
address
 
stress
 
events.
 
Although
 
the
 
banking
 
subsidiaries
 
have
 
historically
 
been
 
able
 
to
 
replace
 
maturing
deposits and advances, no assurance can
 
be given that they would
 
be able to replace those
 
funds in the future if
 
the Corporation’s
financial
 
condition
 
or
 
general
 
market
 
conditions
 
were
 
to
 
deteriorate.
 
The
 
Corporation’s
 
financial
 
flexibility
 
would
 
be
 
severely
constrained
 
if
 
the
 
banking
 
subsidiaries
 
are
 
unable
 
to
 
maintain
 
access
 
to
 
funding
 
or
 
if
 
adequate
 
funding
 
is
 
not
 
available
 
to
accommodate future
 
financing needs
 
at
 
acceptable interest
 
rates. The
 
banking subsidiaries
 
also
 
are required
 
to
 
deposit cash
 
or
qualifying
 
securities
 
to
 
meet
 
margin
 
requirements
 
on
 
repurchase
 
agreements,
 
deposit
 
agreements
 
and
 
other
 
collateralized
borrowing facilities. To
 
the extent that
 
the value of
 
securities previously pledged as
 
collateral declines because of
 
market changes,
the Corporation will be required to deposit additional cash or securities to meet its margin or collateral requirements and would need
to
 
rely
 
more
 
heavily
 
on
 
alternative
 
funding
 
sources.
 
In
 
these
 
scenarios,
 
the
 
Corporation’s
 
financial
 
flexibility
 
and
 
ability
 
to
 
grow
revenues may not increase proportionately to cover costs and
 
profitability would be adversely affected.
The Corporation considers balances in
 
excess of $250,000 to have a
 
higher potential liquidity risk.
 
Table
 
12 reflects the aggregate
balance in
 
deposit accounts
 
in excess
 
of $250,000,
 
including collateralized
 
public funds
 
and deposits
 
outside of
 
the U.S.
 
and its
territories.
 
Collateralized public funds, as presented in Table 12, represent public deposit balances from governmental
 
entities in the
U.S.
 
and
 
its
 
territories,
 
including
 
Puerto
 
Rico
 
and
 
the
 
United
 
States
 
Virgin
 
Islands,
 
collateralized
 
based
 
on
 
such
 
jurisdictions’
applicable collateral requirements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
130
Table 12 - Deposits
31-Mar-26
Popular, Inc.
(Dollars in thousands)
BPPR
% of Total
Popular U.S.
% of Total
(Consolidated)
% of Total
Deposits:
Deposits balances under $250,000 [1]
$
24,374,849
44
%
$
8,292,411
68
%
$
32,667,260
48
%
Transactional deposits balances over
$250,000
8,431,271
15
%
2,845,596
23
%
11,276,867
17
%
Time deposits balances over $250,000
2,386,858
4
%
521,619
4
%
2,908,477
4
%
Uninsured foreign deposits
444,415
1
%
-
-
%
444,415
1
%
Collateralized public funds
20,048,501
36
%
265,796
2
%
20,314,297
30
%
Intercompany deposits
200,890
-
%
305,233
3
%
-
-
%
Total deposits
$
55,886,784
100
%
$
12,230,655
100
%
$
67,611,316
100
%
[1] Includes the first $250,000 in balances of transactional
 
and time deposit accounts with balances in excess
 
of $250,000.
31-Dec-25
Popular, Inc.
(Dollars in thousands)
BPPR
% of Total
Popular U.S.
% of Total
(Consolidated)
% of Total
Deposits
Deposits balances under $250,000 [1]
$
23,873,328
44
%
$
8,283,967
69
%
$
32,157,295
49
%
Transactional deposits balances over
$250,000
8,254,961
15
%
2,341,365
19
%
10,596,326
16
%
Time deposits balances over $250,000
2,182,301
4
%
794,183
7
%
2,976,484
4
%
Uninsured foreign deposits
446,360
1
%
-
-
%
446,360
1
%
Collateralized public funds
19,748,934
36
%
264,694
2
%
20,013,628
30
%
Intercompany deposits
235,251
-
%
349,483
3
%
-
-
%
Total deposits
$
54,741,135
100
%
$
12,033,692
100
%
$
66,190,093
100
%
[1] Includes the first $250,000 in balances of transactional
 
and time deposit accounts with balances in excess
 
of $250,000.
Bank Holding Companies
The principal
 
sources of
 
funding for
 
the BHCs,
 
which are
 
Popular,
 
Inc.
 
(holding company
 
only) and
 
PNA, include
 
cash on
 
hand,
investment
 
securities,
 
dividends
 
received from
 
banking
 
and
 
non-banking subsidiaries,
 
asset sales,
 
credit
 
facilities
 
available from
affiliate banking subsidiaries and proceeds from potential securities offerings.
 
Dividends from banking and non-banking subsidiaries
are subject
 
to various
 
regulatory limits
 
and authorization
 
requirements imposed
 
by banking
 
regulators, including
 
the FED
 
and the
NYDFS, that may limit the ability of those subsidiaries
 
to act as a source of funding to the BHCs.
The principal uses of these funds include the repayment of debt, interest payments to holders of senior debt and junior subordinated
deferrable interest debentures (related to trust preferred securities), the payment of dividends to common stockholders,
 
repurchases
of the Corporation’s securities and capitalizing its subsidiaries.
 
The outstanding balance of notes
 
payable at the BHCs
 
amounted to $595 million at
 
March 31, 2026 and
 
$595 million at December
31, 2025.
The contractual maturities of the BHCs notes payable
 
at March 31, 2026 are presented in Table 13.
Table 13
 
- Distribution of BHC's Notes Payable by Contractual
 
Maturity
Year
(In thousands)
2028
$
396,955
Later years
198,406
Total
$
595,361
 
 
 
 
131
As of
 
March 31,
 
2026, the
 
BHCs had
 
cash and
 
money markets
 
investments totaling
 
$1.6 million
 
and borrowing
 
potential of
 
$165
million
 
from
 
its
 
secured
 
facility
 
with
 
BPPR.
 
The
 
BHCs’
 
liquidity
 
position
 
continues
 
to
 
be
 
adequate
 
with
 
sufficient
 
cash
 
on
 
hand,
investments and
 
other sources of
 
liquidity that are
 
expected to be
 
sufficient to
 
meet all
 
interest payments and
 
dividend obligations
for the
 
foreseeable future.
 
Additionally,
 
the Corporation’s
 
latest quarterly
 
paid dividend
 
was $0.75
 
per share
 
or approximately
 
$48
million per quarter.
The BHCs have in
 
the past borrowed in the
 
corporate debt market primarily to finance
 
their non-banking subsidiaries and refinance
debt
 
obligations.
 
These
 
sources
 
of
 
funding
 
are
 
more
 
costly
 
given
 
that
 
two
 
out
 
of
 
three
 
principal
 
credit
 
rating
 
agencies
 
rate
 
the
Corporation’s debt
 
securities below
 
“investment grade”.
 
The Corporation
 
has a
 
shelf registration
 
statement filed
 
and effective
 
with
the
 
Securities
 
and
 
Exchange
 
Commission,
 
which
 
permits
 
the
 
Corporation
 
to
 
issue
 
an
 
unspecified
 
amount
 
of
 
debt
 
or
 
equity
securities.
Non-Banking Subsidiaries
The
 
principal
 
sources
 
of
 
funding
 
for
 
the
 
non-banking
 
subsidiaries
 
include
 
internally
 
generated
 
cash
 
flows
 
from
 
operations,
 
loan
sales, repurchase agreements, capital
 
injections and borrowed funds
 
from their direct
 
parent companies or the
 
holding companies.
The principal uses of funds for the non-banking
 
subsidiaries include repayment of maturing debt,
 
operational expenses and payment
of dividends to the BHCs.
 
Dividends
During the
 
quarter ended March
 
31, 2026,
 
the Corporation
 
declared cash
 
dividends of
 
$0.75 per
 
common share
 
outstanding ($49
million in the aggregate). The dividends for the Corporation’s
 
Series A preferred stock amounted to $0.4 million.
During the quarter ended March 31, 2026, the
 
BHCs received dividends and distributions amounting
 
to $175 million from BPPR, and
$12 million
 
from its
 
other non-banking
 
subsidiaries. Dividends
 
from BPPR
 
constitute Popular,
 
Inc.’s primary
 
source of
 
liquidity.
 
In
addition, during the quarter ended March 31, 2026,
 
PIBI, a wholly owned subsidiary of Popular, Inc., had no dividends.
 
In
 
addition to
 
regulatory
 
limits previously
 
discussed, the
 
ability
 
of a
 
bank
 
subsidiary to
 
up-stream dividends
 
to
 
its
 
BHC could
 
be
impacted by
 
its financial
 
performance and
 
capital, including
 
tangible and
 
regulatory capital,
 
thus potentially
 
limiting the
 
amount of
cash up
 
streamed to
 
the BHCs
 
from the
 
banking subsidiaries.
 
This could,
 
in turn,
 
affect BHC’s
 
ability to
 
declare dividends
 
on its
outstanding common
 
and preferred
 
stock, repurchase
 
its securities
 
or meet
 
its debt
 
obligations. At
 
March 31,
 
2026, BPPR
 
could
declare
 
a
 
dividend
 
of
 
up
 
to
 
approximately
 
$13
 
million
 
without
 
prior
 
approval
 
of
 
the
 
Federal
 
Reserve
 
Board
 
due
 
to
 
its
 
retained
income, declared dividend activity and transfers to statutory reserves
 
over the measurement period. In addition, pursuant to the FRB
requirements, PB may not declare or pay a dividend
 
without the prior approval of the Federal Reserve
 
Board and the NYSDFS.
Other Funding Sources and Capital
In addition to cash reserves held at
 
the FRB that totaled $4.7 billion at March
 
31, 2026, debt securities provide an additional source
of
 
liquidity,
 
which
 
may
 
be
 
realized
 
through
 
either
 
securities
 
sales,
 
collateralized
 
borrowings
 
or
 
repurchase
 
agreements.
 
The
Corporation’s debt
 
securities portfolio consists
 
primarily of liquid
 
U.S. government debt
 
securities and U.S.
 
government sponsored
agency mortgage-backed securities that can
 
be used to raise
 
funds in the repo
 
markets. The availability of repurchase
 
agreements
would be
 
subject to
 
having sufficient
 
unpledged collateral
 
available at
 
the time
 
the transactions
 
are consummated,
 
in addition
 
to
overall liquidity
 
and risk
 
appetite of
 
the various
 
counterparties. Refer
 
to
 
Table
 
10 for
 
details of
 
the Corporation’s
 
unpledged debt
securities and available credit facilities with the FHLB and
 
the discount window of the Federal Reserve Bank.
 
A substantial portion of
these
 
debt
 
securities
 
could
 
be
 
used
 
to
 
raise
 
financing
 
in
 
the
 
U.S.
 
money
 
markets
 
or
 
from
 
secured
 
lending
 
sources,
 
subject
 
to
changes in their fair market value and customary adjustments
 
(haircuts).
 
Additional
 
liquidity
 
may
 
be
 
provided
 
through
 
loan
 
maturities,
 
prepayments
 
and
 
sales.
 
The
 
loan
 
portfolio
 
provides
 
a
 
source
 
of
collateral to
 
secure the
 
available credit
 
facilities with
 
the FHLB
 
and the
 
discount window
 
of the
 
Federal Reserve
 
Bank. The
 
loan
portfolio
 
can
 
also
 
be
 
used
 
to
 
obtain
 
funding
 
in
 
the
 
capital
 
markets.
 
Mortgage
 
loans
 
and
 
some
 
types
 
of
 
consumer
 
loans,
 
have
secondary markets which the Corporation could
 
use.
Off-Balance Sheet Arrangements and Other Commitments
 
132
In the ordinary course
 
of business, the Corporation
 
engages in financial transactions that
 
are not recorded on
 
the balance sheet or
may be recorded on the balance sheet in amounts that are different than the full contract or notional amount of the transaction. As a
provider of
 
financial services,
 
the Corporation
 
routinely enters
 
into commitments
 
with off-balance
 
sheet risk
 
to meet
 
the financial
needs
 
of
 
its
 
customers.
 
Refer
 
to
 
Note
 
18
 
to
 
the
 
Consolidated
 
Financial
 
Statements
 
for
 
information
 
on
 
the
 
Corporation’s
commitments to extent credit and other non-credit commitments.
 
Other types
 
of off-balance
 
sheet arrangements
 
that the
 
Corporation enters
 
in the
 
ordinary course
 
of business
 
include derivatives,
operating
 
leases
 
and
 
provision
 
of
 
guarantees,
 
indemnifications,
 
and
 
representation
 
and
 
warranties.
 
Refer
 
to
 
Note
 
17
 
to
 
the
Consolidated Financial
 
Statements for
 
a detailed
 
discussion related
 
to the
 
Corporation’s guarantees,
 
indemnifications obligations,
and representation and warranties arrangements.
 
The Corporation monitors its cash requirements, including
 
its contractual obligations and debt commitments.
 
Financial Information of Guarantor and Issuers of Registered
 
Guaranteed Securities
The principal sources of funding for Popular, Inc. Holding Company (“PIHC”) and Popular North America, Inc. (“PNA”) have included
dividends received
 
from their
 
banking and
 
non-banking subsidiaries subject
 
to statutory
 
provisions that
 
limit dividends
 
paid by
 
the
banking subsidiary without regulatory approval,
 
asset sales and proceeds from the issuance
 
of debt and equity.
 
The Corporation ("PIHC") is
 
the parent holding company
 
of Popular North America (“PNA”)
 
and operates financial services through
its subsidiaries. PNA, a wholly owned subsidiary of Popular, Inc., manages entities such as Equity One, Inc., and PB, including PB’s
subsidiaries: Popular Equipment Finance, LLC,
 
Popular Insurance Agency, U.S.A., and E-LOAN, Inc.
PNA has issued junior subordinated debentures guaranteed by PIHC (the “obligor group”), purchased by statutory
 
trusts established
by the Corporation using proceeds from trust preferred
 
securities (“capital securities”) and common securities
 
of the trusts.
PIHC guarantees
 
the junior
 
subordinated debentures
 
issued by
 
PNA. If
 
PIHC fails
 
to make
 
interest payments
 
on the
 
debentures
held by the trust,
 
the trust will not
 
distribute payments on the
 
capital securities. The guarantee
 
ranks subordinate and junior
 
in right
of
 
payment to
 
all
 
other liabilities
 
of
 
PIHC and
 
equally with
 
all
 
other PIHC-issued
 
guarantees, allowing
 
direct
 
legal
 
action against
PIHC without involving other entities.
Funding
 
for
 
PIHC
 
and
 
PNA
 
includes
 
dividends
 
from
 
subsidiaries,
 
asset
 
sales,
 
and
 
proceeds
 
from
 
debt
 
and
 
equity
 
issuance.
Statutory provisions limit the dividends an insured
 
depository institution can pay to its holding
 
company without regulatory approval.
The summarized financial
 
information below shows
 
the combined financial
 
position of the
 
obligor group as
 
of March
 
31, 2026
 
and
December 31, 2025,
 
and the results
 
of their operations
 
for the
 
quarters ended March
 
31, 2026 and
 
March 31,
 
2025. Excluded are
investments and equity in earnings from subsidiaries
 
and affiliates outside the obligor group.
Intercompany balances
 
and transactions
 
within the
 
obligor group
 
have been
 
eliminated. Material
 
amounts due
 
from, due
 
to, and
transactions with subsidiaries and affiliates are shown separately. Related party transactions
 
are also presented separately.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
133
Table 14 - Summarized Statement
 
of Condition
(In thousands)
March 31, 2026
December 31, 2025
Assets
Cash and money market investments
$
468,987
$
524,882
Investment securities
39,780
38,656
Accounts receivables from non-obligor subsidiaries
15,521
12,798
Other loans (net of allowance for credit losses of $102 (2025
 
- $132))
23,844
24,169
Investment in equity method investees
5,145
5,145
Other assets
103,289
91,618
Total assets
$
656,566
$
697,268
Liabilities and Stockholders' deficit
Accounts payable to non-obligor subsidiaries
$
11,998
$
7,669
Notes payable
595,362
594,958
Other liabilities
108,959
135,785
Stockholders' deficit
(59,753)
(41,144)
Total liabilities and
 
stockholders' deficit
$
656,566
$
697,268
Table 15 - Summarized Statement
 
of Operations
For the quarters ended
(In thousands)
March 31, 2026
March 31, 2025
Income:
Dividends from non-obligor subsidiaries
$
187,000
$
206,000
Interest income from non-obligor subsidiaries and affiliates
904
1,181
Other operating income
1,281
838
Total income
$
189,185
$
208,019
Expenses:
Services provided by non-obligor subsidiaries and affiliates
 
(net of
reimbursement by subsidiaries for services provided by parent
 
of
$69,903 (2025 - $61,777))
$
5,126
$
3,903
Other expenses
5,694
7,339
Income tax (benefit) expense
(323)
2,679
Total expenses
$
10,497
$
13,921
Net income
$
178,688
$
194,098
 
 
 
 
 
134
Risk to Liquidity
The
 
Corporation’s
 
liquidity
 
may
 
come
 
under
 
pressure
 
if
 
it
 
experiences
 
significant
 
unexpected
 
cash
 
outflows
 
due
 
to
 
deposit
withdrawals, which could arise
 
from various factors like
 
economic conditions, loss of
 
depositor confidence, competition, exogenous
events, regulatory requirements or changes, a
 
downgrade in credit rating, or other events
 
causing counterparties to avoid exposure.
Investors should refer to Liquidity Risks section of “Part I, Item 1A”
 
of 2025 Form 10-K for an additional discussion of liquidity
 
risks to
which the Corporation is subject.
Credit Risk
Geographic and Government Risk
 
The Corporation is exposed to geographic and government risk.
 
The Corporation’s assets and revenue composition by geographical
area and by
 
business segment reporting are
 
presented in Note
 
32 to the
 
Consolidated Financial Statements. Readers should
 
refer
to
 
Economic
 
and
 
Market
 
Risk
 
section
 
and
 
Business
 
Risk
 
Section
 
of
 
“Part
 
I,
 
Item
 
1A”
 
of
 
the
 
2025
 
Form
 
10-K
 
for
 
an
 
additional
discussion
 
on
 
how
 
the
 
Corporation is
 
impacted
 
by
 
global
 
and
 
local
 
economic
 
and
 
market
 
conditions, including
 
weakness
 
in
 
the
economy,
 
particularly in Puerto
 
Rico, where a
 
significant portion of
 
our business is
 
concentrated. This section
 
also addresses how
our credit risk and credit
 
losses can increase to the extent
 
our loans are concentrated on borrowers engaged in
 
the same or similar
activities or in borrowers who as a group
 
may be uniquely or disproportionately affected by certain
 
economic or market conditions.
Commonwealth of Puerto Rico
A
 
significant portion
 
of
 
our financial
 
activities and
 
credit
 
exposure is
 
concentrated in
 
the
 
Commonwealth of
 
Puerto Rico
 
(“Puerto
Rico”) which has faced severe economic and fiscal
 
challenges in the past and may face additional
 
challenges in the future.
Economic Performance
 
The latest estimates from the
 
Puerto Rico Planning Board (the
 
“Planning Board”) indicate that real
 
GNP grew by 2.1%
 
during fiscal
year
 
2024
 
(July 2023-June
 
2024) and
 
by
 
1.1% in
 
fiscal
 
year
 
2025 (July
 
2024-June 2025).
 
For fiscal
 
year 2026
 
(July
 
2025-June
2026),
 
the
 
Planning
 
Board
 
forecasts
 
more
 
modest
 
GNP
 
growth
 
of
 
0.5%.
 
Meanwhile,
 
the
 
Puerto
 
Rico
 
Economic
 
Activity
 
Index
reflected a 1.1% year-over-year increase in December 2025, with no change on a month-over-month basis. While this index is not a
direct measure of real GNP, it serves as an indicator of ongoing economic activity.
In 2021
 
and 2022,
 
inflation rose
 
sharply in
 
the U.S.
 
and Puerto
 
Rico due
 
to post-pandemic
 
demand and supply
 
chain disruptions.
Inflation
 
began
 
to
 
decrease
 
by
 
mid-2022
 
as
 
the
 
Federal
 
Reserve
 
raised
 
interest
 
rates,
 
largely
 
stabilizing
 
by
 
September
 
2024,
leading to a
 
series of rate
 
reductions by the Federal
 
Reserve for the
 
first time in
 
four years. As
 
of March 2026, the
 
U.S. Consumer
Price Index
 
reflected a
 
3.3% year-over-year increase,
 
which, while below
 
peak 2022
 
levels, remains above
 
the Federal
 
Reserve’s
2% target. The year-over-year
 
increase accelerated from 2.4%
 
in February 2026 to
 
3.3% in March
 
2026, primarily driven by
 
higher
energy and
 
gasoline prices
 
resulting from
 
the recent
 
geopolitical conflict involving
 
Iran. In
 
Puerto Rico,
 
the Consumer
 
Price Index
reflected a year-over-year
 
increase of 2.5%
 
in March 2026,
 
up from 2.3%
 
in February 2026.
 
It is still
 
too early to
 
determine the full
extent to which the conflict involving Iran and its
 
indirect impacts may impact the global and Puerto
 
Rico economies.
 
Fiscal Challenges of Puerto Rico and its Municipalities
As
 
Puerto Rico’s
 
economy contracted
 
in the
 
2000s, public
 
debt
 
increased rapidly
 
due to
 
borrowing to
 
cover
 
deficits to
 
pay
 
debt
service, pension benefits,
 
and other expenditures.
 
By 2016, the
 
government had over
 
$120 billion in
 
combined debt and
 
unfunded
pension liabilities, lost access to capital markets, and
 
faced a fiscal crisis.
 
In
 
response,
 
the
 
U.S.
 
Congress
 
enacted
 
PROMESA
 
in
 
June
 
2016.
 
PROMESA
 
established
 
an
 
Oversight
 
Board
 
with
 
significant
control over Puerto Rico’s
 
fiscal and economic affairs,
 
including those of its public
 
corporations, instrumentalities and municipalities
(collectively, “PR Government Entities”).
 
In August 2025, President Donald J. Trump dismissed six of the seven members of
 
the Oversight Board, reportedly due to inefficient
leadership and excessive spending. Three of the dismissed members subsequently filed suit in federal
 
court challenging the legality
 
 
135
of their dismissal. On October 3, 2025, the court issued a preliminary injunction that effectively reinstated such members and barred
the seating of
 
replacement members while the case
 
proceeds. Such ruling was
 
appealed to the
 
United States Court of
 
Appeals for
the First Circuit
 
on December 3, 2025,
 
and the appeal remains
 
pending as of March
 
31, 2026. It is
 
still too early to
 
determine what
impact these developments may have on Puerto Rico’s fiscal
 
and economic affairs.
Under PROMESA, the Oversight
 
Board will remain
 
in place until market
 
access is restored and
 
balanced budgets are achieved for
at
 
least
 
four
 
consecutive
 
years.
 
PROMESA
 
also
 
established
 
two
 
mechanisms
 
for
 
the
 
restructuring
 
of
 
the
 
obligations
 
of
 
PR
Government Entities:
 
(a) Title
 
III, an
 
in-court process
 
akin to
 
that of
 
the U.S.
 
Bankruptcy Code
 
and which
 
permits adjustment
 
of a
broad range
 
of
 
obligations, and
 
(b) Title
 
VI,
 
a largely
 
out-of-court process
 
through which
 
a supermajority
 
of creditors
 
can
 
accept
modifications to debt and bind holdouts.
Since
 
2017,
 
Puerto
 
Rico
 
and
 
several
 
of
 
its
 
instrumentalities
 
have
 
availed
 
themselves
 
of
 
these
 
mechanisms.
 
The
 
Puerto
 
Rico
government exited Title III in March 2022, and several instrumentalities, such as the Government Development Bank and the Puerto
Rico Highways and Transportation
 
Authority have also completed
 
debt restructurings under Titles
 
III or VI
 
of PROMESA. However,
the Puerto Rico Electric Power Authority is still undergoing
 
its debt restructuring.
Puerto
 
Rico's economic
 
difficulties
 
have also
 
impacted its
 
municipalities. Historically,
 
the central
 
government provided
 
significant
municipal subsidies. However, these have decreased pursuant to fiscal measures required by the Oversight Board. This decline has
been partly
 
offset by
 
federal disaster
 
and COVID-relief
 
funding received
 
by municipalities
 
in recent
 
years. The
 
latest Puerto
 
Rico
fiscal plan proposes a
 
restructured grant system to enhance
 
municipal services and encourage accountability through
 
performance
metrics.
Municipalities
 
are
 
subject
 
to
 
PROMESA,
 
and
 
the
 
Oversight
 
Board
 
has
 
required
 
certain
 
municipalities
 
to
 
submit
 
fiscal
 
plans
 
and
annual budgets
 
for review
 
and approval.
 
Municipalities are
 
also required
 
to seek
 
Oversight Board
 
approval to
 
issue, guarantee
 
or
modify
 
their
 
debts
 
and
 
to
 
enter
 
into
 
significant
 
contracts.
 
To
 
date
 
no
 
municipality
 
has
 
availed
 
itself
 
of
 
the
 
debt
 
restructuring
mechanisms available to them under PROMESA.
Exposure of the Corporation
 
The credit quality of BPPR’s
 
loan portfolio is closely tied to the
 
economic conditions in Puerto Rico. Deterioration in the Puerto
 
Rico
economy
 
could
 
potentially
 
increase
 
delinquencies
 
and
 
charge-offs,
 
thereby
 
impacting
 
the
 
Corporation’s
 
financial
 
health.
 
The
Corporation has direct exposure to P.R. Government Entities, which are mainly concentrated in obligations from various Puerto Rico
municipalities. Additionally,
 
the Corporation
 
holds loans
 
and securities
 
insured by
 
P.R.
 
Government Entities,
 
such as
 
the Housing
Finance
 
Authority,
 
whose
 
ability
 
to
 
honor
 
guarantees
 
depends
 
on
 
its
 
financial
 
condition.
 
BPPR’s
 
commercial,
 
mortgage,
 
and
consumer loan portfolios are also exposed to risks from private borrowers who are service providers or have other relationships with
the Puerto
 
Rico government
 
and government employees
 
who could
 
be negatively
 
affected by
 
Puerto Rico’s
 
fiscal challenges.
 
For
further
 
discussion
 
of
 
the
 
Corporation’s
 
direct
 
and
 
indirect
 
exposure
 
to
 
the
 
Puerto
 
Rico
 
government and
 
its
 
instrumentalities and
municipalities, please refer to Note 18 – Commitments
 
and Contingencies to the Consolidated
 
Financial Statements.
The
 
Corporation
 
also
 
maintains
 
significant
 
deposits
 
from
 
P.R.
 
Government
 
Entities,
 
with
 
future
 
balances
 
subject
 
to
 
various
uncertainties.
 
Further
 
information
 
on
 
Puerto
 
Rico
 
Government
 
deposits
 
is
 
included
 
in
 
Note
 
12
 
–
 
Deposits
 
to
 
the
 
Consolidated
Financial Statements.
United States Virgin Islands
The Corporation has
 
operations in the
 
United States Virgin
 
Islands (“USVI”) and
 
has credit exposure
 
to USVI
 
government entities.
For
 
further
 
discussion
 
of
 
the
 
Corporation’s
 
direct
 
and
 
indirect
 
exposure to
 
USVI
 
government
 
entities,
 
please
 
refer
 
to
 
Note
 
18
 
–
Commitments and Contingencies to the Consolidated
 
Financial Statements.
Non-Performing Assets
Non-performing assets (“NPAs”)
 
include primarily past-due
 
loans that
 
are no
 
longer accruing interest,
 
renegotiated loans, and
 
real
estate property acquired through foreclosure. A summary, including certain credit
 
quality metrics, is presented in Table 16.
During
 
the
 
first
 
quarter
 
of
 
2026,
 
the
 
Corporation’s
 
credit
 
quality
 
metrics
 
remained
 
stable.
 
The
 
Corporation
 
continues
 
to
 
closely
monitor
 
the
 
economic
 
landscape and
 
borrower performance,
 
as
 
macro-economic uncertainty
 
and
 
increased volatility
 
remain key
136
considerations. Management believes that the
 
improvements in risk management practices over
 
recent years and the
 
overall credit
risk profile of the loan portfolio position the Corporation
 
to continue to operate successfully in the current environment.
Total
 
NPAs
 
of $503.8 million
 
as of
 
March 31,
 
2026 decreased by
 
$37.0 million when
 
compared with December
 
31, 2025. BPPR’s
NPLs
 
decreased
 
by
 
$38.4
 
million,
 
primarily driven
 
by
 
reductions in
 
commercial, consumer
 
and
 
mortgage
 
NPLs
 
of
 
$17.6 million,
$17.5 million
 
and $3.0
 
million, respectively.
 
The decrease
 
in commercial
 
NPLs was
 
mainly driven
 
by
 
an
 
$11.1
 
million charge-off
related to a
 
commercial real estate
 
facility classified as
 
NPL in the
 
third quarter of
 
2025. The improvement
 
in consumer NPLs
 
was
primarily due to a $16.8 million
 
reduction in auto NPLs driven by increased
 
payment activity. Popular U.S.
 
NPLs decreased by $1.8
million, mostly driven by a decrease of $3.7
 
million in the mortgage NPLs.
 
On March 31, 2026,
 
the ratio of NPLs
 
to total loans held-in-portfolio was
 
1.17%, compared to 1.27% on
 
December 31, 2025. Other
real estate owned loans (“OREOs”) totaled $45.7
 
million, an increase of $3.2 million from December
 
31, 2025.
 
The Corporation’s commercial loan
 
portfolio secured by real
 
estate (“CRE”) amounted to
 
$11.2 billion
 
on March 31,
 
2026, of which
$3.2 billion was secured with owner occupied properties,
 
compared with $11.2 billion and $3.2 billion, respectively, on December 31,
2025.
CRE NPLs
 
amounted to $58.6
 
million at March
 
31, 2026, compared
 
with $76.0 million
 
at December 31,
 
2025, driven by
 
the $11.
 
1
million net
 
charge off
 
on the
 
CRE facility
 
discussed above.
 
The CRE
 
NPL ratios
 
for the
 
BPPR and
 
Popular U.S.
 
segments were
0.83% and 0.28%, respectively, on March 31, 2026, compared with 1.23% and
 
0.25%, respectively, on December 31, 2025.
The non-owner
 
occupied CRE
 
portfolio was
 
$5.5 billion
 
at March
 
31, 2026,
 
split between
 
$3.4 billion
 
in BPPR
 
and $2.2
 
billion in
Popular U.S. This portfolio is diversified across sectors: retail (33%), hotels (19%), and office space (12%),
 
which together represent
two-thirds of
 
total non-owner
 
occupied CRE
 
exposure. Specifically,
 
office space
 
leasing accounts
 
for just
 
1.7% ($673.6
 
million) of
the total loan portfolio, mainly comprising mid-rise properties with an average loan size of $3 million, and is well diversified by tenant
type.
 
Within CRE, the
 
commercial multi-family portfolio is
 
$2.4 billion (approximately 6%
 
of total loans),
 
concentrated in New
 
York
 
Metro
($1.4 billion), South Florida ($664.6
 
million) and Puerto Rico ($238.5 million) regions. In the New
 
York Metro, there is no exposure to
rent-controlled buildings,
 
and rent-stabilized units make up less than
 
40% of total units, with most originated after 2019.
In addition to
 
the NPLs included in
 
Table
 
16, on March
 
31, 2026 there were
 
$593.2 million of
 
performing loans, mostly commercial
loans, which in management’s opinion, are currently subject to potential future classification as non-performing (December 31, 2025
- $499.6 million).
The following table presents the Corporation’s NPAs as of March 31, 2026 and December
 
31, 2025:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
137
Table 16 - Non-Performing
 
Assets
March 31, 2026
December 31, 2025
(Dollars in thousands)
BPPR
Popular
U.S.
Popular,
Inc.
As a % of
loans HIP
by
category
BPPR
Popular
U.S.
Popular,
Inc.
As a % of
loans HIP
by
category
Commercial
Commercial multi-family
$
-
$
10,962
$
10,962
0.5
%
$
112
$
8,636
$
8,748
0.4
%
Commercial real estate non-owner
occupied
26,457
6,987
33,444
0.6
35,692
7,020
42,712
0.8
Commercial real estate owner
occupied
14,192
-
14,192
0.4
24,567
-
24,567
0.8
Commercial and industrial
 
185,993
6,524
192,517
2.2
183,914
6,498
190,412
2.2
Total Commercial
 
226,642
24,473
251,115
1.3
244,285
22,154
266,439
1.3
Mortgage
129,367
9,700
139,067
1.6
132,373
13,422
145,795
1.7
Leasing
8,892
-
8,892
0.4
9,179
-
9,179
0.5
Consumer
 
 
Home equity lines of credit
-
2,766
2,766
3.5
-
2,796
2,796
3.6
 
Personal
 
15,755
905
16,660
0.9
18,863
1,233
20,096
1.1
 
Auto
35,390
-
35,390
0.9
52,200
-
52,200
1.4
 
Other
4,227
-
4,227
2.4
1,809
29
1,838
1.0
Total Consumer
 
55,372
3,671
59,043
0.8
72,872
4,058
76,930
1.1
Total non-performing
 
loans held-in-
portfolio
420,273
37,844
458,117
1.2
%
458,709
39,634
498,343
1.3
%
Other real estate owned (“OREO”)
45,176
504
45,680
41,929
504
42,433
Total non-performing
 
assets
[1]
$
465,449
$
38,348
$
503,797
$
500,638
$
40,138
$
540,776
Accruing loans past due 90 days or
more
[2]
$
226,218
$
169
$
226,387
$
228,772
$
188
$
228,960
Ratios:
Non-performing assets to total assets
0.78
%
0.24
%
0.66
%
0.85
%
0.25
%
0.72
%
Non-performing loans held-in-portfolio
to loans held-in-portfolio
 
1.52
0.33
1.17
1.66
0.34
1.27
Allowance for credit losses to loans
held-in-portfolio
2.65
0.79
2.10
2.60
0.77
2.05
Allowance for credit losses to non-
performing loans, excluding held-for-
sale
174.23
241.77
179.81
156.51
227.42
162.15
[1] There were no non-performing loans held-for-sale
 
as of March 31, 2026 and December 31, 2025.
[2] It is the Corporation’s policy to report delinquent
 
residential mortgage loans insured by FHA or guaranteed
 
by the VA as accruing
 
loans past due 90
days or
 
more
 
as
 
opposed
 
to
 
non-performing
 
since
 
the principal
 
repayment
 
is insured.
 
These
 
balances
 
include
 
$43 million
 
of residential
 
mortgage
loans
 
insured
 
by
 
FHA
 
or
 
guaranteed
 
by
 
the
 
VA
 
that
 
are
 
no
 
longer
 
accruing
 
interest
 
as
 
of
 
March
 
31,
 
2026
 
(December
 
31,
 
2025
 
-
 
$47
 
million).
Furthermore, the Corporation
 
has $26 million
 
in reverse mortgage
 
loans which are
 
guaranteed by
 
FHA, but which
 
are currently
 
not accruing interest.
Due to the guaranteed
 
nature of the loans,
 
it is the Corporation’s
 
policy to exclude these
 
balances from non-performing
 
assets (December 31,
 
2025 -
$27 million).
For the quarter ended
 
March 31, 2026, total
 
inflows of NPLs held-in-portfolio,
 
excluding consumer loans, increased by
 
$4.2 million,
compared to the
 
same period in
 
2025. Inflows of
 
NPLs held-in-portfolio at the
 
BPPR segment increased by
 
$6.4 million, compared
to the same period in 2025, mainly driven by higher mortgage inflows
 
by $7.2 million. Inflows of NPLs held-in-portfolio at the Popular
U.S. segment decreased by $2.3 million from the
 
same period in 2025, mainly driven by lower
 
commercial inflows by $2.1 million.
Tables 17 to 22 present the Corporation’s inflows to NPLs for the quarters ended March 31,
 
2026 and 2025.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
138
Table 17 - Activity in Non
 
-Performing Loans Held-in-Portfolio (Excluding Consumer
 
Loans)
For the quarter ended March 31, 2026
(Dollars in thousands)
BPPR
Popular U.S.
Popular, Inc.
Beginning balance - NPLs
$
376,658
$
35,576
$
412,234
Plus:
New non-performing loans
43,461
5,733
49,194
Advances on existing non-performing loans
-
181
181
Less:
Non-performing loans transferred to OREO
(3,111)
-
(3,111)
Non-performing loans charged-off
(12,201)
(24)
(12,225)
Loans returned to accrual status / loan collections
(48,798)
(7,293)
(56,091)
Ending balance -
 
NPLs
$
356,009
$
34,173
$
390,182
Table 18 - Activity in Non
 
-Performing Loans Held-in-Portfolio (Excluding Consumer
 
Loans)
For the quarter ended March 31, 2025
(Dollars in thousands)
BPPR
Popular U.S.
Popular, Inc.
Beginning balance - NPLs
$
209,543
$
53,544
$
263,087
Plus:
New non-performing loans
37,023
8,158
45,181
Advances on existing non-performing loans
-
18
18
Less:
Non-performing loans transferred to OREO
(2,555)
-
(2,555)
Non-performing loans charged-off
(927)
(1,130)
(2,057)
Loans returned to accrual status / loan collections
(51,981)
(13,996)
(65,977)
Ending balance -
 
NPLs
$
191,103
$
46,594
$
237,697
Table 19 - Activity in Non
 
-Performing Commercial Loans Held-In-Portfolio
For the quarter ended March 31, 2026
(In thousands)
BPPR
Popular U.S.
Popular, Inc.
Beginning balance - NPLs
$
244,285
$
22,154
$
266,439
Plus:
New non-performing loans
5,004
3,205
8,209
Advances on existing non-performing loans
-
170
170
Less:
Non-performing loans transferred to OREO
(650)
-
(650)
Non-performing loans charged-off
(11,661)
(3)
(11,664)
Loans returned to accrual status / loan collections
(10,336)
(1,053)
(11,389)
Ending balance - NPLs
$
226,642
$
24,473
$
251,115
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
139
Table 20 - Activity in Non
 
-Performing Commercial Loans Held-In-Portfolio
For the quarter ended March 31, 2025
(In thousands)
BPPR
Popular U.S.
Popular, Inc.
Beginning balance - NPLs
$
51,101
$
23,654
$
74,755
Plus:
New non-performing loans
5,781
5,413
11,194
Advances on existing non-performing loans
-
17
17
Less:
Non-performing loans transferred to OREO
(120)
-
(120)
Non-performing loans charged-off
(739)
(1,130)
(1,869)
Loans returned to accrual status / loan collections
(13,426)
(10,447)
(23,873)
Ending balance - NPLs
$
42,597
$
17,507
$
60,104
Table 21 - Activity in Non
 
-Performing Mortgage Loans Held-in-Portfolio
For the quarter ended March 31, 2026
(Dollars in thousands)
BPPR
Popular U.S.
Popular, Inc.
Beginning balance - NPLs
$
132,373
$
13,422
$
145,795
Plus:
New non-performing loans
38,457
2,528
40,985
Advances on existing non-performing loans
-
11
11
Less:
Non-performing loans transferred to OREO
(2,461)
-
(2,461)
Non-performing loans charged-off
(540)
(21)
(561)
Loans returned to accrual status / loan collections
(38,462)
(6,240)
(44,702)
Ending balance - NPLs
$
129,367
$
9,700
$
139,067
Table 22 - Activity in Non
 
-Performing Mortgage Loans Held-in-Portfolio
For the quarter ended March 31, 2025
(Dollars in thousands)
BPPR
Popular U.S.
Popular, Inc.
Beginning balance - NPLs
$
158,442
$
29,890
$
188,332
Plus:
New non-performing loans
31,242
2,745
33,987
Advances on existing non-performing loans
-
1
1
Less:
Non-performing loans transferred to OREO
(2,435)
-
(2,435)
Non-performing loans charged-off
(188)
-
(188)
Loans returned to accrual status / loan collections
(38,555)
(3,549)
(42,104)
Ending balance - NPLs
$
148,506
$
29,087
$
177,593
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
140
Loan Delinquencies
Another key measure used to evaluate and
 
monitor the Corporation’s asset quality is loan
 
delinquencies. Loans delinquent 30 days
or more, as a percentage of their related portfolio
 
category on March 31, 2026 and December 31, 2025,
 
are presented below.
Table 23 - Loan Delinquencies
(Dollars in thousands)
March 31, 2026
December 31, 2025
Loans delinquent
30 days or more
Total loans
Total delinquencies
 
as a percentage
 
of total loans
Loans delinquent
30 days or more
Total loans
Total delinquencies
 
as a percentage
 
of total loans
Commercial
 
Commercial multi-family
$
27,339
$
2,427,295
1.13
%
$
24,982
$
2,455,790
1.02
%
Commercial real estate
non-owner occupied
48,779
5,543,451
0.88
47,068
5,543,284
0.85
Commercial real estate
owner occupied
39,782
3,212,356
1.24
28,008
3,153,080
0.89
Commercial and industrial
220,994
8,565,559
2.58
215,068
8,607,412
2.50
Total Commercial
 
336,894
19,748,661
1.71
315,126
19,759,566
1.59
Construction
 
20,538
1,674,193
1.23
17,283
1,674,899
1.03
Mortgage
 
Mortgage insured
[1]
395,379
3,281,279
12.05
429,796
3,166,679
13.57
Mortgage uninsured
287,933
5,431,082
5.30
329,504
5,482,761
6.01
Total Mortgage
683,312
8,712,361
7.84
759,300
8,649,440
8.78
Leasing
34,091
1,986,165
1.72
37,567
2,001,365
1.88
Consumer
 
Credit cards
 
46,467
1,214,199
3.83
51,846
1,256,717
4.13
Home equity lines of credit
3,798
79,764
4.76
4,160
78,692
5.29
Personal
 
48,279
1,913,281
2.52
53,632
1,906,228
2.81
Auto
 
129,540
3,783,904
3.42
186,798
3,819,812
4.89
Other
5,374
177,174
3.03
5,929
180,799
3.28
Total Consumer
 
233,458
7,168,322
3.26
302,365
7,242,248
4.18
Loans held-for-sale
-
5,603
-
-
9,998
-
Total
 
$
1,308,293
$
39,295,305
3.33
%
$
1,431,641
$
39,337,516
3.64
%
[1]
 
Loans that carry certain guarantees from FHA or the
 
VA. Refer to Note 7 to
 
the Consolidated Financial Statements for additional
 
information of
guaranteed loans.
Allowance for Credit Losses Loans Held-in-Portfolio
The ACL
 
represents management’s
 
estimate of
 
expected credit
 
losses through
 
the remaining
 
contractual life
 
of the
 
different loan
segments, impacted by expected prepayments. The ACL
 
is maintained at a sufficient
 
level to provide for estimated credit
 
losses on
collateral dependent loans as well as loans modified
 
for borrowers with financial difficulties separately from the remainder
 
of the loan
portfolio. The Corporation’s
 
management evaluates the adequacy
 
of the ACL
 
on a quarterly
 
basis. In this
 
evaluation, management
considers current
 
conditions, macroeconomic
 
economic expectations through
 
a reasonable
 
and supportable
 
period, historical
 
loss
experience,
 
portfolio composition
 
by
 
loan
 
type
 
and
 
risk
 
characteristics,
 
results
 
of
 
periodic credit
 
reviews
 
of
 
individual loans,
 
and
regulatory requirements, amongst other factors.
The Corporation must rely on
 
estimates and exercise judgment regarding matters where
 
the ultimate outcome is unknown, such
 
as
economic developments affecting specific
 
customers, industries, or markets.
 
Other factors that can
 
affect management’s estimates
are
 
recalibration
 
of
 
statistical
 
models
 
used
 
to
 
calculate
 
lifetime
 
expected
 
losses,
 
changes
 
in
 
underwriting
 
standards,
 
financial
accounting standards and loan impairment measurements,
 
among others. Changes in the financial condition
 
of individual borrowers,
in economic
 
conditions, and
 
in the
 
condition of
 
the various
 
markets in
 
which collateral
 
may be
 
sold, may
 
also affect
 
the required
141
level of
 
the allowance
 
for credit
 
losses. Consequently,
 
the business
 
financial condition,
 
liquidity,
 
capital, and
 
results of
 
operations
could also be affected.
At March 31, 2026, the
 
ACL increased by $15.6 million from December 31,
 
2025 to $823.7 million. The increase in
 
ACL was driven
by
 
a combination
 
of changes
 
in
 
the economic
 
scenario,
 
loan volumes
 
and increases
 
in
 
qualitative reserves.
 
The
 
ACL for
 
BPPR
increased by $14.3 million
 
when compared to December 31,
 
2025 due to a
 
$22.3 million increase in reserves for
 
commercial loans
driven
 
by
 
higher
 
specific
 
reserves
 
for
 
a
 
single-borrower
 
exposure
 
in
 
non-accrual,
 
a
 
$11.1
 
million
 
net
 
charge
 
off
 
related
 
to
 
a
commercial real
 
estate facility
 
classified as
 
NPL in
 
the third
 
quarter of
 
2025, and
 
other loan
 
modifications. The
 
ACL for
 
mortgage
loans increased by $3.1 million, mostly
 
due to changes in the
 
macroeconomic scenarios. These increases were partially offset
 
by a
$12.4 million decrease
 
in the ACL
 
for consumer loans,
 
mainly in the
 
auto portfolio, reflecting
 
improvements in credit
 
quality. In
 
the
PB segment, the ACL remained stable, increasing by
 
$1.4 million from the previous quarter.
The
 
Corporation’s
 
ratio
 
of
 
the
 
allowance
 
for
 
credit
 
losses
 
to
 
loans held-in-portfolio
 
was
 
2.10%
 
on
 
March
 
31,
 
2026
 
compared
 
to
2.05% on December 31, 2025.
 
The ratio of the allowance for
 
credit losses to NPLs held-in-portfolio stood at
 
179.81%, compared to
162.15% on December 31, 2025.
Refer to Note 8 – Allowance for credit losses – loans
 
held-in-portfolio to the Consolidated Financial
 
Statements, and to the Provision
for Credit Losses section of this MD&A for additional
 
information.
Tables
 
24 and
 
25 detail
 
the allowance
 
for credit
 
losses by
 
loan categories
 
and the
 
percentage it
 
represents of
 
total loans
 
held-in-
portfolio and
 
NPLs. The
 
breakdown is
 
made for
 
analytical purposes,
 
and it
 
is not
 
necessarily indicative
 
of the
 
categories in
 
which
future loan losses may occur.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
142
Table 24 - Allowance for Credit
 
Losses - Loan Portfolios
March 31, 2026
(Dollars in thousands)
Total ACL
Total loans held-
in-portfolio
ACL to loans held-
in-portfolio
Total non-
performing loans
held-in-portfolio
ACL to non-
performing loans
held-in-portfolio
Commercial
 
Commercial multi-family
$
20,069
$
2,427,295
0.83
%
$
10,962
183.08
%
 
Commercial real estate non-owner occupied
64,146
5,543,451
1.16
%
33,444
191.80
%
 
Commercial real estate owner occupied
51,116
3,212,356
1.59
%
14,192
360.17
%
 
Commercial and industrial
 
197,476
8,565,559
2.31
%
192,517
102.58
%
Total Commercial
 
$
332,807
$
19,748,661
1.69
%
$
251,115
132.53
%
Construction
15,160
1,674,193
0.91
%
-
-
Mortgage
83,624
8,712,361
0.96
%
139,067
60.13
%
Leasing
18,588
1,986,165
0.94
%
8,892
209.04
%
Consumer
 
 
Credit cards
89,376
1,214,199
7.36
%
-
-
 
Home equity lines of credit
1,178
79,764
1.48
%
2,766
42.59
%
 
Personal
 
104,739
1,913,281
5.47
%
16,660
628.69
%
 
Auto
170,544
3,783,904
4.51
%
35,390
481.90
%
 
Other
7,713
177,174
4.35
%
4,227
182.47
%
Total Consumer
 
$
373,550
$
7,168,322
5.21
%
$
59,043
632.67
%
Total
$
823,729
$
39,289,702
2.10
%
$
458,117
179.81
%
Table 25 - Allowance for Credit
 
Losses - Loan Portfolios
December 31, 2025
(Dollars in thousands)
Total ACL
Total loans held-
in-portfolio
ACL to loans held-
in-portfolio
Total non-
performing loans
held-in-portfolio
ACL to non-
performing loans
held-in-portfolio
Commercial
 
Commercial multi-family
$
19,345
$
2,455,790
0.79
%
 
$
8,748
221.14
%
 
Commercial real estate non-owner occupied
58,717
5,543,284
1.06
%
 
42,712
137.47
%
 
Commercial real estate owner occupied
48,451
3,153,080
1.54
%
 
24,567
197.22
%
 
Commercial and industrial
 
180,934
8,607,412
2.10
%
 
190,412
95.02
%
Total Commercial
 
$
307,447
$
19,759,566
1.56
%
 
$
266,439
115.39
%
Construction
13,826
1,674,899
0.83
%
 
 
-
 
 
-
 
Mortgage
80,554
8,649,440
0.93
%
 
145,795
55.25
%
Leasing
18,620
2,001,365
0.93
%
 
9,179
202.85
%
Consumer
 
 
Credit cards
91,124
1,256,717
7.25
%
 
 
-
 
 
-
 
 
Home equity lines of credit
1,335
78,692
1.70
%
 
2,796
47.75
%
 
Personal
 
106,612
1,906,228
5.59
%
 
20,096
530.51
%
 
Auto
180,364
3,819,812
4.72
%
 
52,200
345.52
%
 
Other
8,174
180,799
4.52
%
1,838
444.72
%
Total Consumer
 
$
387,609
$
7,242,248
5.35
%
 
$
76,930
503.85
%
Total
$
808,056
$
39,327,518
2.05
%
$
498,343
162.15
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
143
Annualized net charge-offs (recoveries)
The
 
following
 
table
 
presents
 
annualized
 
net
 
charge-offs
 
(recoveries)
 
(“NCOs“)
 
to
 
average
 
loans
 
held-in-portfolio
 
(“HIP”)
 
by
 
loan
category for the quarters ended March 31, 2026
 
and 2025.
Table 26
 
- Annualized Net Charge-offs (Recoveries) to
 
Average Loans Held-in-Portfolio
Quarter ended March 31, 2026
Quarter ended March 31, 2025
BPPR
Popular U.S.
Popular, Inc.
BPPR
Popular U.S.
Popular, Inc.
Commercial
 
0.42
%
(0.01)
%
0.23
%
(0.10)
%
0.02
%
(0.05)
%
Construction
(0.01)
―
―
―
―
―
Mortgage
(0.13)
(0.01)
(0.11)
(0.15)
(0.06)
(0.13)
Leasing
0.52
―
0.52
0.68
―
0.68
Consumer
2.68
3.09
2.69
2.82
3.90
2.85
Total annualized
 
net charge-offs to
average loans held-in-portfolio
0.85
%
0.04
%
0.61
%
0.72
%
0.07
%
0.53
%
NCOs for
 
the quarter
 
ended March
 
31, 2026
 
amounted to
 
$60.0 million,
 
increasing by
 
$10.9 million
 
when compared
 
to the
 
same
period in 2025.
 
The BPPR segment increased
 
by $11.9
 
million mainly driven by
 
higher commercial NCOs by
 
$14.0 million, mostly
due to the above referenced $11.1 million NCO.
 
The PB segment NCOs decreased by $1.0 million.
Loan Modifications
For the
 
quarter ended
 
March
 
31, 2026,
 
modified loans
 
to
 
borrowers with
 
financial difficulty
 
amounted to
 
$248.4 million,
 
of
 
which
$240.0
 
million
 
were
 
in
 
accruing
 
status.
 
The
 
BPPR
 
segment’s
 
modifications
 
to
 
borrowers
 
with
 
financial
 
difficulty
 
amounted
 
to
approximately $248.4 million, mainly
 
comprised of commercial
 
and mortgage loans of
 
$233.7 million and $8.6
 
million, respectively.
A total of $3.5 million of the mortgage modifications
 
were related to government guaranteed loans.
Refer
 
to
 
Note
 
8
 
to
 
the
 
Consolidated
 
Financial
 
Statements
 
for
 
additional
 
information
 
on
 
modifications
 
made
 
to
 
borrowers
experiencing financial difficulties.
ADOPTION OF NEW ACCOUNTING STANDARDS AND ISSUED BUT NOT
 
YET EFFECTIVE ACCOUNTING STANDARDS
Refer to Note 3, “New Accounting Pronouncements”
 
to the Consolidated Financial Statements.
Item 3. Quantitative and Qualitative Disclosures About
 
Market Risk
Quantitative and qualitative disclosures for the current
 
period can be found in the Market Risk
 
section of this report, which includes
changes in market risk exposures from disclosures presented
 
in the 2025 Form 10-K.
Item 4. Controls and Procedures
Disclosure Controls and Procedures
The Corporation’s management,
 
with the
 
participation of the
 
Corporation’s Chief Executive
 
Officer and Chief
 
Financial Officer,
 
has
evaluated the effectiveness of the Corporation’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and
15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”) as of the end of the period covered by this report. Based
on such evaluation, the Corporation’s Chief Executive Officer and Chief Financial Officer have concluded that,
 
as of the end of such
 
 
144
period, the Corporation’s disclosure controls and procedures are effective in recording, processing, summarizing and reporting, on a
timely basis,
 
information required to
 
be disclosed
 
by the
 
Corporation in
 
the reports
 
that it
 
files or
 
submits under
 
the Exchange Act
and
 
such
 
information
 
is
 
accumulated
 
and
 
communicated
 
to
 
management,
 
as
 
appropriate,
 
to
 
allow
 
timely
 
decisions
 
regarding
required disclosures.
Internal Control Over Financial Reporting
 
The
 
Company
 
continues
 
to
 
implement
 
new
 
business
 
systems
 
and
 
solutions,
 
including
 
an
 
enterprise
 
resource
 
planning
 
(“ERP”)
system, which are expected to improve the efficiency of
 
certain financial and related business processes.
On January
 
1, 2026,
 
the Corporation
 
implemented a
 
new ERP
 
system, replacing
 
our previous
 
ERP system
 
that had
 
supported a
significant portion
 
of our
 
transactional records
 
and general
 
ledger. As
 
a result
 
of this
 
implementation, we modified
 
certain existing
controls
 
and
 
implemented
 
new
 
controls
 
and
 
procedures to
 
maintain
 
appropriate
 
internal
 
control
 
over
 
financial
 
reporting
 
and
 
will
continue to evaluate the design and operating effectiveness
 
of these controls.
Except as described above, there have
 
been no changes in the
 
Corporation’s internal control over financial reporting
 
(as such term
is defined
 
in Rules
 
13a-15(f) and
 
15d-15(f) under
 
the Exchange
 
Act) that
 
occurred during
 
the quarter
 
ended March
 
31, 2026
 
that
have materially affected, or are reasonably likely to
 
materially affect, the Corporation’s internal control over financial
 
reporting.
Part II - Other Information
Item 1. Legal Proceedings
 
For a discussion of Legal Proceedings, see Note 18
 
to the Consolidated Financial Statements.
Item 1A. Risk Factors
In addition to the other information set forth in
 
this report, you should carefully consider the risk
 
factors discussed under “Part I - Item
1A - Risk Factors” in our 2025 Form
 
10-K. These factors could materially adversely affect our business, financial condition, liquidity,
results of
 
operations and
 
capital position,
 
and could
 
cause our
 
actual results
 
to
 
differ
 
materially from
 
our historical
 
results or
 
the
results contemplated
 
by the
 
forward-looking statements
 
contained in
 
this report.
 
Also refer
 
to the
 
discussion in
 
“Part I
 
- Item
 
2 –
Management’s Discussion
 
and Analysis
 
of Financial
 
Condition and
 
Results of
 
Operations” in
 
this report
 
for additional
 
information
that may supplement or update the discussion
 
of risk factors below and in our 2025 Form 10-K.
There have been no material changes to the risk
 
factors previously disclosed under Item 1A of the
 
Corporation’s 2025 Form 10-K.
The risks described
 
in our 2025
 
Form 10-K and in
 
this report are not
 
the only risks
 
facing us. Additional risks
 
and uncertainties not
currently
 
known
 
to
 
us
 
or
 
that
 
we
 
currently
 
deem
 
to
 
be
 
immaterial
 
also
 
may
 
materially
 
adversely
 
affect
 
our
 
business,
 
financial
condition, liquidity, results of operations and capital position.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
145
Item 2.
 
Unregistered Sales of Equity Securities and
 
Use of Proceeds
 
The Corporation did not have any unregistered
 
sales of equity securities during the quarter ended March
 
31, 2026.
Issuer Purchases of Equity Securities
The following table
 
sets forth the
 
details of
 
purchases of common
 
stock by
 
the Corporation and
 
its affiliated
 
purchasers during the
quarter ended March 31, 2026:
Issuer Purchases of Equity Securities
Not in thousands
Period
Total Number of
Shares Purchased [1]
Average Price Paid per
Share
Total Number of Shares
Purchased as Part of Publicly
Announced Plans or Programs [2]
Approximate Dollar Value of
Shares that May Yet be
Purchased Under the Plans or
Programs [2]
January 1 - January 31
306,003
$
127.73
301,380
$242,576,163
February 1 - February 28
345,242
143.58
344,075
$193,162,299
March 1 - March 31
540,114
132.49
509,943
$125,867,052
Total
 
1,191,359
$
134.48
1,155,398
$125,867,052
[1] Includes
 
4,623,
 
1,167, and
 
30,171
 
shares of
 
the Corporation’s
 
common stock
 
acquired
 
by the
 
Corporation
 
during
 
January,
 
February,
 
and March
2026, respectively, in
 
connection with the satisfaction of tax
 
withholding obligations on vested awards
 
of restricted stock or restricted stock
 
units granted
to
 
directors
 
and
 
certain
 
employees
 
under
 
the
 
Corporation’s
 
Omnibus
 
Incentive
 
Plan.
 
The
 
acquired
 
shares
 
of
 
common
 
stock
 
were
 
added
 
back
 
to
treasury stock.
 
[2] As part of
 
its capital plan,
 
in July 2025, the
 
Corporation announced plans
 
to repurchase up
 
to $500 million
 
in common stock,
 
in addition to
 
the $500
million in common
 
stock repurchase program
 
announced in July
 
2024. As of
 
March 31, 2026,
 
and since the
 
first authorization in
 
2024, the Corporation
had repurchased 8,071,942
 
shares of common
 
stock for $874
 
million at an
 
average price of
 
$108.27 per share,
 
as part of the
 
2024 and 2025
 
common
stock repurchase programs.
Item 3.
 
Defaults Upon Senior Securities
None.
Item 4.
 
Mine Safety Disclosures
Not applicable.
Item 5. Other Information
Rule 10b5-1 Trading Plans or Other Preplanned Trading Arrangements
Certain of
 
our officers
 
or directors have
 
made and
 
may from time
 
to time
 
make elections to
 
participate in, and
 
are
participating in
,
our dividend reinvestment and purchase plan, the
 
Company stock fund associated with our 401(k)
 
plans and/or the Company stock
fund associated with
 
our non-qualified deferred compensation
 
plans and have shares
 
withheld to cover
 
withholding taxes upon
 
the
vesting of
 
equity awards, which
 
may be
 
designed to satisfy
 
the affirmative defense
 
conditions of Rule
 
10b5-1 under the
 
Exchange
Act or may constitute non-Rule 10b5–1
trading arrangements
 
(as defined in Item 408(c) of Regulation
 
S-K).
 
 
146
Item 6.
 
Exhibits
 
Exhibit Index
Exhibit No
Exhibit Description
10.1
22.1
31.1
31.2
32.1
32.2
101. INS
XBRL Instance Document – the instance document
 
does not appear in the Interactive Data File because
its XBRL tags are embedded within the Inline Document.
101.SCH
Inline Taxonomy Extension Schema Document
(1)
101.CAL
Inline XBRL Taxonomy Extension Calculation Linkbase Document
(1)
101.DEF
Inline XBRL Taxonomy Extension Definitions Linkbase Document
(1)
101.LAB
Inline XBRL Taxonomy Extension Label Linkbase Document
(1)
101.PRE
Inline XBRL Taxonomy Extension Presentation Linkbase Document
(1)
104
The cover page of Popular, Inc. Quarterly Report on Form 10-Q for the
 
quarter ended March 31, 2026,
formatted in Inline XBRL (included within the Exhibit
 
101 attachments)
(1)
(1)
 
Included herewith
* This exhibit is a management contract or compensatory
 
plan or arrangement.
Popular, Inc. has not filed as exhibits certain instruments defining
 
the rights of holders of debt of Popular, Inc. not
exceeding 10% of the total assets of Popular, Inc. and its consolidated
 
subsidiaries. Popular, Inc. hereby agrees to
furnish upon request to the Commission a copy of
 
each instrument defining the rights of holders
 
of senior and
subordinated debt of Popular, Inc., or of any of its consolidated
 
subsidiaries.
 
 
 
147
SIGNATURES
Pursuant to the
 
requirements of the Securities Exchange
 
Act of 1934, the
 
registrant has duly caused
 
this report to
 
be signed on its
behalf by the undersigned thereunto duly authorized.
POPULAR, INC.
(Registrant)
Date: May 8, 2026
By: /s/ Jorge J. García
Jorge J. García
Executive Vice President &
Chief Financial Officer
Date: May 8, 2026
By: /s/ Denissa M. Rodríguez
Denissa M. Rodríguez
Senior Vice President & Corporate Comptroller