Financing Receivables [Text Block] | NOTE 8 – LOANS HELD FOR INVESTMENT The following As of December 31, As of December 31, 2021 2020 (In thousands) Residential mortgage loans, mainly secured by first mortgages $ 2,978,895 $ 3,521,954 Construction loans 138,999 212,500 Commercial mortgage loans 2,167,469 2,230,602 C&I loans (1) (2) 2,887,251 3,202,590 Consumer loans 2,888,044 2,609,643 (3) 11,060,658 11,777,289 ACL on loans and finance leases (269,030) (385,887) Loans held for investment, net $ 10,791,628 $ 11,391,402 (1) As of December 31, 2021 and 2020, includes $ 145.0 406.0 (2) As of each December 31, 2021 and 2020, includes 1.0 estate for repayment. (3) Includes accretable fair value net purchase discounts of $ 35.3 48.0 As 4.3 million 4.6 79.0 65.8 December 31, 2021 and 2020, respectively. As of $ 4.0 4.2 383.5 of December 31, 2021 (2020 — $ 422.0 Various from 2.1 2.5 respectively. The following past nonaccrual loans for the years ended December 31, 2021 and 2020: As of December 31, 2021 Year Ended December 31, 2021 Year Ended December 31, 2020 Puerto Rico and Virgin Islands region Nonaccrual Loans with No ACL Nonaccrual Loans with ACL Total Nonaccrual Loans (2) Loans Past Due 90 days or more and Still Accruing (2)(3) Interest Income Recognized on Nonaccrual Loans Interest Income Recognized on Nonaccrual Loans (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government $ - $ - $ - $ 65,394 $ - - Conventional residential mortgage loans 3,689 44,286 47,975 28,433 1,406 1,050 Construction loans 1,000 1,664 2,664 - 61 80 Commercial mortgage loans 8,289 17,048 25,337 9,919 201 194 C&I loans 10,925 5,259 16,184 7,766 113 86 Consumer Loans: Auto loans 3,146 3,538 6,684 - 99 164 Finance leases 196 670 866 - 2 25 Personal loans - 1,208 1,208 - 92 49 Credit cards - - - 2,985 - - Other consumer loans 20 1,543 1,563 - 5 5 Total loans held for investment (1) $ 27,265 $ 75,216 $ 102,481 $ 114,497 $ 1,979 $ 1,653 (1) Nonaccrual loans exclude $ 357.7 (2) Nonaccrual loans exclude PCD loans previously accounted maintaining pools of loans an ongoing basis for credit loss of adoption amount of cash flows expected 117.5 of such loans 20.6 million as of 19.1 loans and $ 1.5 million commercial mortgage loans), is presented in the (3) These include rebooked 7.2 program, purposes, the loans subject December 31, 2021, the Corporation repurchased, pursuant 1.1 As of December 31, 2021 Year Ended December 31, 2021 Year Ended December 31, 2020 Florida region Nonaccrual Loans with No ACL Nonaccrual Loans with ACL Total Nonaccrual Loans Loans Past Due 90 days or more and Still Accruing Interest Income Recognized on Nonaccrual Loans Interest Income Recognized on Nonaccrual Loans (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government $ - $ - $ - $ 121 $ - $ - Conventional residential mortgage loans - 7,152 7,152 - 211 285 Construction loans - - - - - - Commercial mortgage loans - - - - - - C&I loans 468 483 951 61 70 71 Consumer Loans: Auto loans - - - - - 12 Finance leases - - - - - - Personal loans - - - - - - Credit cards - - - - - - Other consumer loans - 133 133 - 10 8 Total loans held for investment (1) $ 468 $ 7,768 $ 8,236 $ 182 $ 291 $ 376 (1) Nonaccrual loans exclude $ 5.7 As of December 31, 2021 Year Ended December 31, 2021 Year Ended December 31, 2020 Total Nonaccrual Loans with No ACL Nonaccrual Loans with ACL Total Nonaccrual Loans Loans Past Due 90 days or more and Still Accruing (2)(3) Interest Income Recognized on Nonaccrual Loans Interest Income Recognized on Nonaccrual Loans (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government $ - $ - $ - $ 65,515 $ - $ - Conventional residential mortgage loans 3,689 51,438 55,127 28,433 1,617 1,335 Construction loans 1,000 1,664 2,664 - 61 80 Commercial mortgage loans 8,289 17,048 25,337 9,919 201 194 C&I loans 11,393 5,742 17,135 7,827 183 157 Consumer Loans: Auto loans 3,146 3,538 6,684 - 99 176 Finance leases 196 670 866 - 2 25 Personal loans - 1,208 1,208 - 92 49 Credit cards - - - 2,985 - - Other consumer loans 20 1,676 1,696 - 15 13 Total loans held for investment (1) $ 27,733 $ 82,984 $ 110,717 $ 114,679 $ 2,270 $ 2,029 (1) Nonaccrual loans exclude $ 363.4 (2) Nonaccrual loans excludes PCD loans previously accounted of maintaining pools of loans accounted for under on an ongoing basis for credit time of adoption and amount of 117.5 portion of such loans contractually 20.6 million as of December 31, 19.1 " million conventional residential mortgage loans 1.5 above. (3) These 7.2 GNMA accounting purposes, these loans the year ended December 31, 2021, the Corporation 1.1 GNMA. When a income totaled $ 2.0 1.9 As of that were in 85.4 43.4 by 13.9 Corporation made of account.” The Corporation 120 delinquent, property is located in a judicial or (i.e., be processed i.e., Foreclosure timelines to, among other reasons, mandatory mediations, bankruptcy, The Corporation’s aging of the loan portfolio As of December 31, 2021 Puerto Rico and Virgin Islands region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1)(2)(3) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: (2) (3) (4) $ - $ 2,355 $ 65,394 $ 67,749 $ 56,903 $ 124,652 (4) - 29,724 76,408 106,132 2,318,789 2,424,921 Commercial loans: 18 - 2,664 2,682 40,451 43,133 (4) 2,402 436 35,256 38,094 1,664,137 1,702,231 2,007 1,782 23,950 27,739 1,918,858 1,946,597 Consumer loans: 26,020 4,828 6,684 37,532 1,525,249 1,562,781 4,820 713 866 6,399 568,606 575,005 3,299 1,285 1,208 5,792 310,283 316,075 3,158 1,904 2,985 8,047 282,179 290,226 1,985 811 1,563 4,359 123,938 128,297 $ 43,709 $ 43,838 $ 216,978 $ 304,525 $ 8,809,393 $ 9,113,918 (1) Includes nonaccrual loans accrue finance charges and fees until charged-off (2) It is the Corporation's days and still the 15 months delinquency mark, taking into 46.6 FHA that were over 15 months delinquent. (3) As of December 7.2 to repurchase the defaulted loans. (4) According to the (FR Y-9C) two or than two payments in arrears, as of December 31, 2021 amounted 6.1 63.1 0.7 As of December 31, 2021 Florida region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: (2) $ - $ - $ 121 $ 121 $ 619 $ 740 (3) - 2,108 7,152 9,260 419,322 428,582 Commercial loans: - - - - 95,866 95,866 - - - - 465,238 465,238 40 63 1,012 1,115 939,539 940,654 Consumer loans: 442 121 - 563 8,196 8,759 - - - - - - - - - - 107 107 - - - - - - 11 - 133 144 6,650 6,794 $ 493 $ 2,292 $ 8,418 $ 11,203 $ 1,935,537 $ 1,946,740 (1) Includes nonaccrual loans and accruing loans that were contractually (2) It is loans 90 days they have passed the 15 months No Florida region were over 15 months delinquent as of December (3) According Companies borrower December 31, 2021 amounted to $ 2.9 As of December 31, 2021 Total 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1)(2)(3) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: (2) (3) (4) $ - $ 2,355 $ 65,515 $ 67,870 $ 57,522 $ 125,392 (4) - 31,832 83,560 115,392 2,738,111 2,853,503 Commercial loans: 18 - 2,664 2,682 136,317 138,999 (4) 2,402 436 35,256 38,094 2,129,375 2,167,469 2,047 1,845 24,962 28,854 2,858,397 2,887,251 Consumer loans: 26,462 4,949 6,684 38,095 1,533,445 1,571,540 4,820 713 866 6,399 568,606 575,005 3,299 1,285 1,208 5,792 310,390 316,182 3,158 1,904 2,985 8,047 282,179 290,226 1,996 811 1,696 4,503 130,588 135,091 $ 44,202 $ 46,130 $ 225,396 $ 315,728 $ 10,744,930 $ 11,060,658 (1) Includes nonaccrual loans accrue finance charges and fees until charged-off (2) It is the Corporation's days and still the 15 months delinquency mark, 46.6 FHA that were over 15 months delinquent. (3) As of December 7.2 to repurchase the defaulted loans. (4) According to the (FR Y-9C) two or than two payments in arrears, as of December 31, 2021 amounted 6.1 66.0 0.7 The Corporation’s aging of the loan portfolio follows: As of December 31, 2020 Puerto Rico and Virgin Islands region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1)(2)(3) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: (2) (3) (4) $ - $ 2,223 $ 98,993 $ 101,216 $ 48,348 $ 149,564 - 61,040 149,779 210,819 2,641,820 2,852,639 Commercial loans: (4) - 19 12,971 12,990 72,026 85,016 (4) 5,071 6,588 32,863 44,522 1,808,702 1,853,224 3,283 10,692 22,566 36,541 2,228,190 2,264,731 Consumer loans: 24,025 5,992 8,664 38,681 1,239,445 1,278,126 5,059 1,086 1,466 7,611 465,378 472,989 4,034 1,981 1,623 7,638 364,373 372,011 3,528 5,842 1,518 10,888 308,936 319,824 2,143 993 3,684 6,820 133,162 139,982 $ 47,143 $ 96,456 $ 334,127 $ 477,726 $ 9,310,380 $ 9,788,106 (1) Includes continue to accrue finance charges and fees until charged (2) It is loans 90 days they have 57.9 mortgage loans insured by the FHA that were over 15 months delinquent. (3) As of 10.7 obligation) to repurchase the defaulted loans. (4) According Companies borrower is in arrears on two or more monthly payments. FHA/VA construction loans 5.9 105.2 5.0 0.1 million, respectively. As of December 31, 2020 Florida region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: (2) (3) $ - $ - $ 250 $ 250 $ 920 $ 1,170 (3) - 3,237 14,422 17,659 500,922 518,581 Commercial loans: - - - - 127,484 127,484 - - - - 377,378 377,378 218 - 561 779 937,080 937,859 Consumer loans: 710 297 223 1,230 17,068 18,298 - - - - - - - - - - 157 157 - - - - - - 58 - 601 659 7,597 8,256 $ 986 $ 3,534 $ 16,057 $ 20,577 $ 1,968,606 $ 1,989,183 (1) Includes nonaccrual loans and accruing loans that were contractually i.e ., FHA/VA (2) It is loans 90 days they have passed the 15 months Florida region were over 15 months delinquent as of December (3) According Companies borrower is in arrears on than two payments in arrears, as of December 31, 2020 amounted 0.2 6.6 As of December 31, 2020 Total 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1)(2)(3) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: $ - $ 2,223 $ 99,243 $ 101,466 $ 49,268 $ 150,734 - 64,277 164,201 228,478 3,142,742 3,371,220 Commercial loans: (4) - 19 12,971 12,990 199,510 212,500 (4) 5,071 6,588 32,863 44,522 2,186,080 2,230,602 3,501 10,692 23,127 37,320 3,165,270 3,202,590 Consumer loans: 24,735 6,289 8,887 39,911 1,256,513 1,296,424 5,059 1,086 1,466 7,611 465,378 472,989 4,034 1,981 1,623 7,638 364,530 372,168 3,528 5,842 1,518 10,888 308,936 319,824 2,201 993 4,285 7,479 140,759 148,238 $ 48,129 $ 99,990 $ 350,184 $ 498,303 $ 11,278,986 $ 11,777,289 (1) Includes nonaccrual loans to accrue finance charges and fees until charged (2) It is the Corporation's 90 days and passed the 57.9 insured by the FHA that were over 15 months delinquent. (3) As 10.7 obligation) to repurchase the defaulted loans. (4) According Companies (FR Y-9C) is in arrears on two or more loans 6.1 111.8 5.0 0.1 respectively. Credit Quality Indicators: The Corporation their debt such economic trends, among other and industrial, reviews its commercial will depend renewal Corporation maturity securities, For residential mortgage and consumer loans, the Corporation also evaluates Based origination construction loans by portfolio classes based on the internal credit-risk As of December 31, Puerto Rico and Virgin Islands region Term Loans As of December 31, 2020 Amortized Cost Basis by Origination Year (1) (In thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Total CONSTRUCTION $ 1,401 $ 12,596 $ 19,001 $ - $ 193 $ 4,875 $ - $ 38,066 $ 68,836 - - 765 - - - - 765 776 - - - 841 - 3,461 - 4,302 15,404 - - - - - - - - - - - - - - - - - - $ 1,401 $ 12,596 $ 19,766 $ 841 $ 193 $ 8,336 $ - $ 43,133 $ 85,016 COMMERCIAL MORTGAGE $ 159,093 $ 364,911 $ 216,942 $ 223,817 $ 73,668 $ 356,908 $ 230 $ 1,395,569 $ 1,511,827 - 10,621 89,409 19,167 118,122 21,944 - 259,263 292,736 2,224 - - 782 2,227 42,166 - 47,399 48,661 - - - - - - - - - - - - - - - - - - $ 161,317 $ 375,532 $ 306,351 $ 243,766 $ 194,017 $ 421,018 $ 230 $ 1,702,231 $ 1,853,224 COMMERCIAL AND INDUSTRIAL $ 307,431 $ 206,560 $ 346,746 $ 180,601 $ 160,389 $ 201,785 $ 449,040 $ 1,852,552 $ 2,155,226 9,549 1,372 836 - - 11,641 9,252 32,650 59,421 633 1,470 14,534 2,109 17,170 20,010 5,469 61,395 50,084 - - - - - - - - - - - - - - - - - - $ 317,613 $ 209,402 $ 362,116 $ 182,710 $ 177,559 $ 233,436 $ 463,761 $ 1,946,597 $ 2,264,731 (1) Excludes accrued interest receivable. As of December 31, Term Loans As of December 31, 2020 Florida region Amortized Cost Basis by Origination Year (1) (In thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Total CONSTRUCTION $ 31,802 $ 26,209 $ 83 $ 37,772 $ - $ - $ - $ 95,866 $ 127,484 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - $ 31,802 $ 26,209 $ 83 $ 37,772 $ - $ - $ - $ 95,866 $ 127,484 COMMERCIAL MORTGAGE $ 97,215 $ 77,086 $ 87,332 $ 61,379 $ 30,054 $ 33,078 $ 18,160 $ 404,304 $ 291,627 - 7,126 13,601 6,782 5,353 27,756 - 60,618 85,427 - - - - - 316 - 316 324 - - - - - - - - - - - - - - - - - - $ 97,215 $ 84,212 $ 100,933 $ 68,161 $ 35,407 $ 61,150 $ 18,160 $ 465,238 $ 377,378 COMMERCIAL AND INDUSTRIAL $ 239,017 $ 121,815 $ 207,483 $ 74,440 $ 59,182 $ 21,138 $ 103,748 $ 826,823 $ 823,124 - - 27,207 - - 4,770 17,969 49,946 73,974 - 24,444 34,476 - - 4,630 335 63,885 40,761 - - - - - - - - - - - - - - - - - - $ 239,017 $ 146,259 $ 269,166 $ 74,440 $ 59,182 $ 30,538 $ 122,052 $ 940,654 $ 937,859 (1) Excludes accrued interest receivable. As of December 31, Total Term Loans As of December 31, 2020 Amortized Cost Basis by Origination Year (1) (In thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Total CONSTRUCTION $ 33,203 $ 38,805 $ 19,084 $ 37,772 $ 193 $ 4,875 $ - $ 133,932 $ 196,320 - - 765 - - - - 765 776 - - - 841 - 3,461 - 4,302 15,404 - - - - - - - - - - - - - - - - - - $ 33,203 $ 38,805 $ 19,849 $ 38,613 $ 193 $ 8,336 $ - $ 138,999 $ 212,500 COMMERCIAL MORTGAGE $ 256,308 $ 441,997 $ 304,274 $ 285,196 $ 103,722 $ 389,986 $ 18,390 $ 1,799,873 $ 1,803,454 - 17,747 103,010 25,949 123,475 49,700 - 319,881 378,163 2,224 - - 782 2,227 42,482 - 47,715 48,985 - - - - - - - - - - - - - - - - - - $ 258,532 $ 459,744 $ 407,284 $ 311,927 $ 229,424 $ 482,168 $ 18,390 $ 2,167,469 $ 2,230,602 COMMERCIAL AND INDUSTRIAL $ 546,448 $ 328,375 $ 554,229 $ 255,041 $ 219,571 $ 222,923 $ 552,788 $ 2,679,375 $ 2,978,350 9,549 1,372 28,043 - - 16,411 27,221 82,596 133,395 633 25,914 49,010 2,109 17,170 24,640 5,804 125,280 90,845 - - - - - - - - - - - - - - - - - - $ 556,630 $ 355,661 $ 631,282 $ 257,150 $ 236,741 $ 263,974 $ 585,813 $ 2,887,251 $ 3,202,590 (1) Excludes accrued interest receivable. The following tables present information about collateral dependent loans determining the ACL as of QtrEndCYYear As of December 31, 2021 Collateral Dependent Loans - With Allowance Collateral Dependent Loans - With No Related Allowance Collateral Dependent Loans - Total Puerto Rico and Virgin Islands region Amortized Cost Related Allowance Amortized Cost Amortized Cost Related Allowance (In thousands) Residential mortgage loans: FHA/VA government $ - $ - $ - $ - $ - Conventional residential mortgage loans 48,398 3,731 781 49,179 3,731 Commercial loans: Construction loans - - 1,797 1,797 - Commercial mortgage loans 9,908 1,152 54,096 64,004 1,152 C&I loans 5,781 670 33,575 39,356 670 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans 78 1 - 78 1 Credit cards - - - - - Other consumer loans 782 98 - 782 98 $ 64,947 $ 5,652 $ 90,249 $ 155,196 $ 5,652 Accrued interest 48.1 57.2 is condition, and is excluded from the estimate of credit losses. As of December 31, 2021 Collateral Dependent Loans - With Allowance Collateral Dependent Loans - With No Related Allowance Collateral Dependent Loans - Total Florida region Amortized Cost Related Allowance Amortized Cost Amortized Cost Related Allowance (In thousands) Residential mortgage loans: FHA/VA government $ - $ - $ - $ - $ - Conventional residential mortgage loans 3,373 235 - 3,373 235 Commercial loans: Construction loans - - - - - Commercial mortgage loans - - 2,265 2,265 - C&I loans - - 468 468 - Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans - - - - - Credit cards - - - - - Other consumer loans - - - - - $ 3,373 $ 235 $ 2,733 $ 6,106 $ 235 As of December 31, 2021 Collateral Dependent Loans - With Allowance Collateral Dependent Loans - With No Related Allowance Collateral Dependent Loans - Total Total Amortized Cost Related Allowance Amortized Cost Amortized Cost Related Allowance (In thousands) Residential mortgage loans: FHA/VA government $ - $ - $ - $ - $ - Conventional residential mortgage loans 51,771 3,966 781 52,552 3,966 Commercial loans: Construction loans - - 1,797 1,797 - Commercial mortgage loans 9,908 1,152 56,361 66,269 1,152 C&I loans 5,781 670 34,043 39,824 670 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans 78 1 - 78 1 Credit cards - - - - - Other consumer loans 782 98 - 782 98 $ 68,320 $ 5,887 $ 92,982 $ 161,302 $ 5,887 The properties, retail establishments. 78 % compared 80 % Corporation’s collateral dependent PCD and PCI Loans Prior to ASC between origination and collected. Following the adoption of ASC 326 on January 1, 2020, the deterioration in credit see Corporation’s accounting Prior to PCI loans exceeded the estimated representing loan. whereby any purchase yield. Upon the the purchase price of the loans (or initial fair value) discount, and any resulting premium or discount related to factors other Purchases and Sales of Loans During the years 174.7 $ 40.0 20.0 $ 0.8 in 18.8 conforming residential retain or strategies. When the Corporation sells such loans, it generally keeps the right In the ordinary such 2021, the Corporation sold 191.4 of $ 221.5 235.3 328.2 million of 254.7 138.7 the consists representations selling and servicing guidelines ( i.e. , ensuring that the mortgage was properly underwritten according to established For loans 2003 when not the obligation, to repurchase the delinquent loans at par without prior Under ASC Topic it is considered liability rebooked 7.2 10.7 million, respectively. During repurchase 1.1 55.0 33.5 balance between the reimbursed among other things, to standing with GNMA. 19 pandemic, from automatically accounting report, July Historically, been immaterial and no provision has been made at the time of sale. Loan repurchased at par 0.3 42 0.3 the years minimal as these repurchased loans are generally performing loans with documentation The amended, COVID-19 pandemic. program, including requirements as special purpose including the 23 184.4 million in principal amount and sold participation interests totaling $ 175.1 During 43.1 million were sold. In addition, the Corporation sold a $ 3.1 In addition, 52.5 related 2.0 31.5 58 % $ 54.5 20.9 the loans 23.1 2.1 recorded as charge to the provision for credit losses in the third Loan Portfolio Concentration The Corporation’s and BVI markets $ 11.1 79 % in 18 % in 3 % in the USVI and BVI. As of 178.4 municipalities 201.3 approximately 100.3 assigned 32.2 municipalities included in the government. payment Rico (“GDB”) Puerto Rico Fiscal deposits and financial government as of December 31, 2021 included $ 12.5 33.4 agency of the Puerto Rico central government. In 92.8 guaranteed 31, 106.5 guarantees serve million financial aggregate reserves to information is available, the mortgage loan insurance program. The Corporation’s uncertainty Court government and the PROMESA oversight board in response to such fiscal situation. The $ 39.2 million in 61.8 2021, number of fiscal debt obligations. Troubled Debt The Rico. well as other restructurings a difficulties, the extension of the held 414.7 258.6 70.4 68.8 million of 2.3 14.6 2021 and 2020, the Corporation has committed to lend up to an additional 21 5.0 The Corporation’s the following: reduction certain cases, the restructuring to the loan their loans reasonably assured that the borrower will comply with its contractual commitment, Prior modifications modified payment borrower modification borrower 0.7 residential mortgage loans that were participating in or had been offered For Corporation borrower’s financial difficulty. are considered borrower Corporation both commercial mortgage, accelerated reduction of non-performing assets through note sales, short In facilities are structured may be completion restructurings are done in the normal course of business performing. Under the provisions 27, 2020, 2022 without loan 342.4 million, or 3.10 % of These mostly adjustments established in 2020 under such programs have completed their deferral period. Selected information on the Corporation’s type is summarized in the following tables as of the indicated dates: As of December 31, Puerto Rico and Virgin Islands region Interest rate below market Maturity or term extension Combination of reduction in interest rate and extension of maturity Forgiveness of principal and/or interest Forbearance Agreement Other (1) Total (In thousands) TDRs: Conventional residential mortgage loans $ 15,800 $ 10,265 $ 176,615 $ - $ 220 $ 51,616 $ 254,516 Construction loans 16 869 1,374 - - 44 2,303 Commercial mortgage loans 1,421 718 41,480 - 16,041 6,908 66,568 C&I loans 218 2,401 17,319 - 16,765 33,302 70,005 Consumer loans: Auto loans - 186 2,561 - - 4,503 7,250 Finance leases - 2 258 - - 715 975 Personal loans 43 6 329 - - 596 974 Credit cards - - 2,574 9 - - 2,583 Other consumer loans 892 816 282 122 - 274 2,386 Total TDRs in Puerto Rico and Virgin Islands region $ 18,390 $ 15,263 $ 242,792 $ 131 $ 33,026 $ 97,958 $ 407,560 (1) Other concessions granted by the Corporation include deferral stipulation, or a combination of two or more of the concessions in the column for such individual concessions. As of December 31, Florida region Interest rate below market Maturity or term extension Combination of reduction in interest rate and extension of maturity Forgiveness of principal and/or interest Forbearance Agreement Other (1) Total (In thousands) TDRs: Conventional residential mortgage loans $ 603 $ 897 $ 2,557 $ - $ - $ - $ 4,057 Construction loans - - - - - - - Commercial mortgage loans - 812 1,453 - - - 2,265 C&I loans - 282 - - - 133 415 Consumer loans: Auto loans - 31 3 - - - 34 Finance leases - - - - - - - Personal loans - - - - - - - Credit cards - - - - - - - Other consumer loans - - 75 - - 332 407 $ 603 $ 2,022 $ 4,088 $ - $ - $ 465 $ 7,178 (1) Other concessions granted by the Corporation include deferral stipulation, or a combination of two or more of the concessions in the column for such individual concessions. As of December 31, Total Interest rate below market Maturity or term extension Combination of reduction in interest rate and extension of maturity Forgiveness of principal and/or interest Forbearance Agreement Other (1) Total (In thousands) TDRs: Conventional residential mortgage loans $ 16,403 $ 11,162 $ 179,172 $ - $ 220 $ 51,616 $ 258,573 Construction loans 16 869 1,374 - - 44 2,303 Commercial mortgage loans 1,421 1,530 42,933 - 16,041 6,908 68,833 C&I loans 218 2,683 17,319 - 16,765 33,435 70,420 Consumer loans: Auto loans - 217 2,564 - - 4,503 7,284 Finance leases - 2 258 - - 715 975 Personal loans 43 6 329 - - 596 974 Credit cards - - 2,574 9 - - 2,583 Other consumer loans 892 816 357 122 - 606 2,793 $ 18,993 $ 17,285 $ 246,880 $ 131 $ 33,026 $ 98,423 $ 414,738 (1) Other concessions granted by the stipulation, or a combination of two or more in the column for such individual concessions. As of December 31, Puerto Rico and Virgin Islands region Interest rate below market Maturity or term extension Combination of reduction in interest rate and extension of maturity Forgiveness of principal and/or interest Forbearance Agreement Other (1) Total (In thousands) TDRs: Conventional residential mortgage loans $ 17,740 $ 11,125 $ 211,155 $ - $ 223 $ 66,694 $ 306,937 Construction loans 21 1,700 1,516 - - 186 3,423 Commercial mortgage loans 1,491 1,380 35,714 - 16,473 6,765 61,823 C&I loans 238 12,267 14,119 - 17,890 35,744 80,258 Consumer loans: Auto loans - 474 4,863 - - 6,112 11,449 Finance leases - 15 588 - - 541 1,144 Personal loans 58 9 571 - - 286 924 Credit cards - - 2,342 16 - - 2,358 Other consumer loans 1,602 991 572 193 - 343 3,701 Total TDRs in Puerto Rico and Virgin Islands region $ 21,150 $ 27,961 $ 271,440 $ 209 $ 34,586 $ 116,671 $ 472,017 (1) Other concessions granted by the stipulation, or a combination of two or more in the column for such individual concessions. As of December 31, Florida region Interest rate below market Maturity or term extension Combination of reduction in interest rate and extension of maturity Forgiveness of principal and/or interest Forbearance Agreement Other (1) Total (In thousands) TDRs: Conventional residential mortgage loans $ 989 $ 401 $ 2,257 $ - $ - $ 22 $ 3,669 Construction loans - - - - - - - Commercial mortgage loans - 834 1,781 - - - 2,615 C&I loans - - - - - 224 224 Consumer loans: Auto loans - 55 15 - - - 70 Finance leases - - - - - - - Personal loans - - - - - - - Credit cards - - - - - - - Other consumer loans 37 - 172 - - 392 601 $ 1,026 $ 1,290 $ 4,225 $ - $ - $ 638 $ 7,179 (1) Other concessions granted by the Corporation include deferral stipulation, or a combination of two or more of the concessions in the column for such individual concessions. As of December 31, Total Interest rate below market Maturity or term extension Combination of reduction in interest rate and extension of maturity Forgiveness of principal and/or interest Forbearance Agreement Other (1) Total (In thousands) TDRs: Conventional residential mortgage loans $ 18,729 $ 11,526 $ 213,412 $ - $ 223 $ 66,716 $ 310,606 Construction loans 21 1,700 1,516 - - 186 3,423 Commercial mortgage loans 1,491 2,214 37,495 - 16,473 6,765 64,438 C&I loans 238 12,267 14,119 - 17,890 35,968 80,482 Consumer loans: Auto loans - 529 4,878 - - 6,112 11,519 Finance leases - 15 588 - - 541 1,144 Personal loans 58 9 571 - - 286 924 Credit cards - - 2,342 16 - - 2,358 Other consumer loans 1,639 991 744 193 - 735 4,302 $ 22,176 $ 29,251 $ 275,665 $ 209 $ 34,586 $ 117,309 $ 479,196 (1) Other concessions granted by the Corporation include deferral stipulation, or a combination of two or more of the concessions in the column for such individual concessions. The following table presents the Corporation’s Year Year Year December 31, December 31, December 31, 2019 (In thousands) Beginning balance of TDRs $ 479,196 $ 487,997 $ 582,647 New TDRs 34,216 36,319 63,433 Increases to existing TDRs 94 6,009 1,840 Charge-offs post-modification (1) (17,434) (11,122) (10,342) Sales, net of charge-offs (17,492) - - Foreclosures (3,117) (2,015) (12,872) Removed from the TDR classification (8,001) - - Paid-off, partial payments and other (2) (52,724) (37,992) (136,709) $ 414,738 $ 479,196 $ 487,997 (1) For the year ended December 12.5 29.9 52.5 of nonaccrual residential mortgage loans. (2) For the year ended December 31, 2019, includes the payoff 92.4 TDR contractual terms full nonaccrual six months , and there significant events that coincide with the restructuring, result borrower’s modifications cash flows that specifies an interest for a new loan with compliance with 8.0 the TDR classification as the borrower was no longer experiencing did not and 2019. The following tables provide a breakdown of the TDR loans held for investment portfolio of the indicated dates: December 31, 2021 Puerto Rico and Virgin Islands region Florida region Total Accrual Nonaccrual Total TDRs Accrual Nonaccrual Total TDRs Accrual Nonaccrual (1) Total TDRs (In thousands) Conventional residential mortgage loans $ 234,597 $ 19,919 $ 254,516 $ 3,030 $ 1,027 $ 4,057 $ 237,627 $ 20,946 $ 258,573 Construction loans 1,845 458 2,303 - - - 1,845 458 2,303 Commercial mortgage loans 50,608 15,960 66,568 2,265 - 2,265 52,873 15,960 68,833 C&I loans 59,792 10,213 70,005 - 415 415 59,792 10,628 70,420 Consumer loans: 4,174 3,076 7,250 34 - 34 4,208 3,076 7,284 975 - 975 - - - 975 - 975 973 1 974 - - - 973 1 974 2,583 - 2,583 - - - 2,583 - 2,583 2,111 275 2,386 407 - 407 2,518 275 2,793 $ 357,658 $ 49,902 $ 407,560 $ 5,736 $ 1,442 $ 7,178 $ 363,394 $ 51,344 $ 414,738 (1) Included in nonaccrual loans 13.5 the criteria of sustained payment performance under the revised December 31, 2020 Puerto Rico and Virgin Islands region Florida region Total Accrual Nonaccrual Total TDRs Accrual Nonaccrual Total TDRs Accrual Nonaccrual (1) Total TDRs (In thousands) Conventional residential mortgage loans $ 253,421 $ 53,516 $ 306,937 $ 3,358 $ 311 $ 3,669 $ 256,779 $ 53,827 $ 310,606 Construction loans 2,480 943 3,423 - - - 2,480 943 3,423 Commercial mortgage loans 43,012 18,811 61,823 2,615 - 2,615 45,627 18,811 64,438 C&I loans 73,649 6,609 80,258 - 224 224 73,649 6,833 80,482 Consumer loans: 6,481 4,968 11,449 70 - 70 6,551 4,968 11,519 1,125 19 1,144 - - - 1,125 19 1,144 920 4 924 - - - 920 4 924 2,358 - 2,358 - - - 2,358 - 2,358 3,274 427 3,701 564 37 601 3,838 464 4,302 $ 386,720 $ 85,297 $ 472,017 $ 6,607 $ 572 $ 7,179 $ 393,327 $ 85,869 $ 479,196 (1) Included in nonaccrual 5.9 the criteria of sustained payment performance under the revised TDR e.g. , 57.6 million 58.7 guaranteed loans the specified debenture rate) are guaranteed by the U.S. government. Loan modifications that are considered TDR loans completed during 2021, 2020 Year Ended December 31, 2021 Puerto Rico and Virgin Islands region Florida region Total Number of contracts Pre- modification Amortized Cost Post- modification Amortized Cost Number of contracts Pre- modification Amortized Cost Post- modification Amortized Cost Number of contracts Pre- modification Amortized Cost Post- modification Amortized Cost (Dollars in thousands) TDRs: Conventional residential mortgage loans 61 $ 6,221 $ 6,128 5 $ 1,466 $ 1,466 66 $ 7,687 $ 7,594 Construction loans - - - - - - - - - Commercial mortgage loans 7 11,285 11,223 - - - 7 11,285 11,223 C&I loans 5 9,732 9,609 1 299 299 6 10,031 9,908 Consumer loans: 134 2,601 2,598 - - - 134 2,601 2,598 42 692 697 - - - 42 692 697 46 497 504 - - - 46 497 504 246 1,426 1,426 - - - 246 1,426 1,426 65 266 266 - - - 65 266 266 606 $ 32,720 $ 32,451 6 $ 1,765 $ 1,765 612 $ 34,485 $ 34,216 Year Ended December 31, 2020 Puerto Rico and Virgin Islands region Florida region Total Number of contracts Pre- modification Amortized Cost Post- modification Amortized Cost Number of contracts Pre- modification Amortized Cost Post- modification Amortized Cost Number of contracts Pre- modification Amortized Cost Post- modification Amortized Cost (Dollars in thousands) TDRs: Conventional residential mortgage loans 103 $ 9,027 $ 8,307 - $ - $ - 103 $ 9,027 $ 8,307 Construction loans - - - - - - - - - Commercial mortgage loans 5 824 824 - - - 5 824 824 C&I loans 14 22,544 22,524 - - - 14 22,544 22,524 Consumer loans: 163 2,635 2,623 - - - 163 2,635 2,623 29 408 408 - - - 29 408 408 30 306 305 - - - 30 306 305 159 783 783 - - - 159 783 783 144 590 522 1 23 23 145 613 545 647 $ 37,117 $ 36,296 1 $ 23 $ 23 648 $ 37,140 $ 36,319 Year Ended December 31, 2019 Puerto Rico and Virgin Islands region Florida region Total Number of contracts Pre- modification Amortized Cost Post- modification Amortized Cost Number of contracts Pre- modification Amortized Cost Post- modification Amortized Cost Number of contracts Pre- modification Amortized Cost Post- modification Amortized Cost (Dollars in thousands) TDRs: Conventional residential mortgage loans 118 $ 14,606 $ 14,084 - $ - $ - 118 $ 14,606 $ 14,084 Construction loans 4 118 117 - - - 4 118 117 Commercial mortgage loans 13 40,988 38,750 - - - 13 40,988 38,750 C&I loans 14 1,754 1,750 - - - 14 1,754 1,750 Consumer loans: 253 4,168 4,121 3 33 33 256 4,201 4,154 42 804 801 - - - 42 804 801 53 502 499 - - - 53 502 499 153 800 800 - - - 153 800 800 656 2,411 2,478 - - - 656 2,411 2,478 1,306 $ 66,151 $ 63,400 3 $ 33 $ 33 1,309 $ 66,184 $ 63,433 Recidivism, nonaccrual loan. Recidivism loans present has failed to make payments of either pr |