Cover Page
Cover Page - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 24, 2023 | Jun. 30, 2022 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Fiscal Year Focus | 2022 | ||
Document Fiscal Period Focus | FY | ||
Entity File Number | 001-34084 | ||
Entity Registrant Name | POPULAR, INC. | ||
Entity Incorporation State Country Code | PR | ||
Entity Tax Identification Number | 66-0667416 | ||
Entity Address Address Line 1 | 209 Muñoz Rivera Avenue | ||
Entity Address City Or Town | Hato Rey | ||
Entity Address Country | PR | ||
Entity Address Postal Zip Code | 00918 | ||
City Area Code | 787 | ||
Local Phone Number | 765-9800 | ||
Well known season issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Common Stock Shares Outstanding | 71,867,263 | ||
Document Incorporated by reference | Portions of Popular, Statement”) are incorporated herein by reference in response to Items 10 through the Securities and Exchange Commission (the “SEC”) | ||
Entity Central Index Key | 0000763901 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Public Float | $ 5.8 | ||
Icfr Auditor Attestation Flag | true | ||
Common Stock | |||
Entity Listings [Line Items] | |||
Security 12b Title | Common Stock ($0.01 par value) | ||
Trading Symbol | BPOP | ||
Security Exchange Name | NASDAQ | ||
Cumulative Preferred Stock 6.125% | |||
Entity Listings [Line Items] | |||
Security 12b Title | 6.125% Cumulative Monthly Income Trust Preferred Securities | ||
Trading Symbol | BPOPM | ||
Security Exchange Name | NASDAQ |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2022 | |
Audit information [Abstract] | |
Auditor Name | PricewaterhouseCoopers LLP |
Auditor Location | San Juan, Puerto Rico |
Auditor Firm ID | 238 |
CONSOLIDATED STATEMENTS OF COND
CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Assets: | ||
Cash and due from banks | $ 469,501 | $ 428,433 |
Money market investments: | ||
Time deposits with other banks | 5,614,595 | 17,536,719 |
Total money market investments | 5,614,595 | 17,536,719 |
Trading account debt securities, at fair value: | ||
Other trading account debt securities | 27,723 | 29,711 |
Debt securities available-for-sale, at fair value: | ||
Pledged securities with creditors' right to repledge | 129,203 | 93,330 |
Other debt securities available-for-sale | 17,675,171 | 24,874,939 |
Debt securities held-to-maturity, at amortized cost (fair value 2022 - $8,440,196; 2021 - $83,368) | 8,525,366 | 79,461 |
Less - Allowance for credit losses | 6,911 | 8,096 |
Debt securities held-to-maturity, net | 8,518,455 | 71,365 |
Equity securities (realizable value 2022 - $196,665; 2021 - $192,345) | 195,854 | 189,977 |
Loans held-for-sale, at lower of cost or fair value | 5,381 | 59,168 |
Loans held-in-portfolio | 32,372,925 | 29,506,225 |
Less - Unearned income | 295,156 | 265,668 |
Allowance for credit losses | 720,302 | 695,366 |
Total loans held-in-portfolio, net | 31,357,467 | 28,545,191 |
Premises and equipment, net | 498,711 | 494,240 |
Other real estate | 89,126 | 85,077 |
Accrued income receivable | 240,195 | 203,096 |
Mortgage servicing rights, at fair value | 128,350 | 121,570 |
Other assets | 1,847,813 | 1,628,571 |
Goodwill | 827,428 | 720,293 |
Other intangible assets | 12,944 | 16,219 |
Total assets | 67,637,917 | 75,097,899 |
Deposits: | ||
Non-interest bearing | 15,960,557 | 15,684,482 |
Interest bearing | 45,266,670 | 51,320,606 |
Total deposits | 61,227,227 | 67,005,088 |
Assets sold under agreements to repurchase | 148,609 | 91,603 |
Other short-term borrowings | 365,000 | 75,000 |
Notes payable | 886,710 | 988,563 |
Other liabilities | 916,946 | 968,248 |
Total liabilities | 63,544,492 | 69,128,502 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Preferred stock, 30,000,000 shares authorized; 885,726 shares issued and outstanding (2021 - 885,726) | 22,143 | 22,143 |
Common stock, $0.01 par value; 170,000,000 shares authorized;104,657,522 shares issued (2021 - 104,579,334) and 71,853,720 shares outstanding (2021 - 79,851,169) | 1,047 | 1,046 |
Surplus | 4,790,993 | 4,650,182 |
Retained earnings | 3,834,348 | 2,973,745 |
Treasury stock - at cost, 32,803,802 shares (2021 - 24,728,165) | (2,030,178) | (1,352,650) |
Accumulated other comprehensive loss, net of tax | (2,524,928) | (325,069) |
Total stockholders' equity | 4,093,425 | 5,969,397 |
Total liabilities and stockholders' equity | $ 67,637,917 | $ 75,097,899 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF CONDITION (PARENTHETICAL) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Held to maturity securities fair value | $ 8,440,196 | $ 83,368 |
Realizable Value Of Equity Securities | $ 196,665 | $ 192,345 |
Preferred stock shares authorized | 30,000,000 | 30,000,000 |
Preferred stock, shares issued | 885,726 | 885,726 |
Preferred stock shares outstanding | 885,726 | 885,726 |
Common Stock Par Or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock Shares Authorized | 170,000,000 | 170,000,000 |
Common Stock Shares Issued | 104,657,522 | 104,579,334 |
Common Stock Shares Outstanding | 71,853,720 | 79,851,169 |
Treasury stock | 32,803,802 | 24,728,165 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Interest income: | |||
Loans | $ 1,876,166 | $ 1,747,827 | $ 1,742,390 |
Money market investments | 118,080 | 21,147 | 19,721 |
Investment securities | 471,665 | 353,663 | 329,440 |
Total interest income | 2,465,911 | 2,122,637 | 2,091,551 |
Interest expense: | |||
Deposits | 252,845 | 111,621 | 175,855 |
Short-term borrowings | 5,737 | 319 | 2,457 |
Long-term debt | 39,970 | 53,107 | 56,626 |
Total interest expense | 298,552 | 165,047 | 234,938 |
Net interest income | 2,167,359 | 1,957,590 | 1,856,613 |
Provision for credit losses (benefit) | 83,030 | (193,464) | 292,536 |
Net interest income after provision for credit losses (benefit) | 2,084,329 | 2,151,054 | 1,564,077 |
Mortgage banking activities | 42,450 | 50,133 | 10,401 |
Net gain on sale of debt securities | 0 | 23 | 41 |
Gain, including impairment on equity securities | (7,334) | 131 | 6,279 |
Net (loss) profit on trading account debt securities | (784) | (389) | 1,033 |
Net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale | 0 | (73) | 1,234 |
Adjustments to indemnity reserves on loans sold | 919 | 4,406 | 390 |
Other operating income | 370,592 | 113,951 | 87,219 |
Total non-interest income | 897,062 | 642,128 | 512,312 |
Operating expenses: | |||
Personnel costs | 719,764 | 631,802 | 564,205 |
Net occupancy expenses | 106,169 | 102,226 | 119,345 |
Equipment expenses | 35,626 | 32,919 | 32,514 |
Other taxes | 63,603 | 56,783 | 54,454 |
Professional fees | 172,043 | 126,721 | 132,414 |
Technology and software expenses | 291,902 | 277,979 | 263,886 |
Processing and transactional services | 127,145 | 121,367 | 112,039 |
Communications | 14,885 | 14,029 | 13,230 |
Business promotion | 88,918 | 72,981 | 57,608 |
FDIC deposit insurance | 26,787 | 25,579 | 23,868 |
Other real estate owned (OREO) income | (22,143) | (14,414) | (3,480) |
Other operating expenses | 109,446 | 92,169 | 81,349 |
Amortization of intangibles | 3,275 | 9,134 | 6,397 |
Goodwill impairment charge | 9,000 | 0 | 0 |
Total operating expenses | 1,746,420 | 1,549,275 | 1,457,829 |
Income before income tax | 1,234,971 | 1,243,907 | 618,560 |
Income tax expense | 132,330 | 309,018 | 111,938 |
Net Income | 1,102,641 | 934,889 | 506,622 |
Net Income Applicable to Common Stock | $ 1,101,229 | $ 933,477 | $ 504,864 |
Net Income per Common Share - Basic | $ 14.65 | $ 11.49 | $ 5.88 |
Net Income per Common Share - Diluted | $ 14.63 | $ 11.46 | $ 5.87 |
Service charges on deposit accounts | |||
Interest expense: | |||
Revenue from contract with customer | $ 157,210 | $ 162,698 | $ 147,823 |
Other services | |||
Interest expense: | |||
Revenue from contract with customer | $ 334,009 | $ 311,248 | $ 257,892 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Income and Comprehensive Income | |||
Net income | $ 1,102,641 | $ 934,889 | $ 506,622 |
Other comprehensive (loss) income before tax: | |||
Foreign currency translation adjustment | 10,572 | 3,947 | (14,471) |
Adjustment of pension and postretirement benefit plans | 7,811 | 36,950 | (9,032) |
Amortization of net losses | 15,644 | 20,749 | 21,447 |
Unrealized net holding (losses) gains on debt securities arising during the period | (2,539,421) | (619,470) | 419,993 |
Reclassification adjustment for gains included in net income | 0 | (23) | (41) |
Amortization of unrealized losses of debt securities transfer from available-for-sale to held-to-maturity | 41,642 | 0 | 0 |
Unrealized net gains (losses) on cash flow hedges | 3,719 | 539 | (8,872) |
Reclassification adjustment for net (gains) losses included in net income | (960) | 1,847 | 6,379 |
Other comprehensive (loss) income before tax | (2,460,993) | (555,461) | 415,403 |
Income tax benefit (expense) | (261,134) | (40,401) | 55,474 |
Total other comprehensive (loss) income, net of tax | (2,199,859) | (515,060) | 359,929 |
Comprehensive (loss) income, net of tax | $ (1,097,218) | $ 419,829 | $ 866,551 |
TAX EFFECT ALLOCATED TO EACH CO
TAX EFFECT ALLOCATED TO EACH COMPONENT OF OTHER COMPREHENSIVE LOSS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Income and Comprehensive Income | |||
Adjustment of pension and postretirement benefit plans | $ (2,929) | $ (13,856) | $ 3,387 |
Amortization of net losses | (5,867) | (7,781) | (8,042) |
Unrealized net holding (losses) gains on debt securities arising during the period | 278,324 | 62,468 | (51,213) |
Reclassification adjustment for gains included in net income | 0 | 5 | 6 |
Amortization of unrealized losses of debt securities transfer from available-for-sale to held-to-maturity | (8,328) | 0 | 0 |
Unrealized net gains (losses) on cash flow hedges | (612) | (172) | 2,472 |
Reclassification adjustment for net (gains) losses included in net income | 546 | (263) | (2,084) |
Income tax benefit (expense) | $ (261,134) | $ (40,401) | $ 55,474 |
TAX EFFECT ALLOCATED TO EACH _2
TAX EFFECT ALLOCATED TO EACH COMPONENT OF OTHER COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |||
Oct. 15, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Available-for-sale securities transfer to Held-to-maturity | $ 6,531,092 | $ 0 | $ 0 | |
US Treasury Securities | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Available-for-sale securities transfer to Held-to-maturity | $ 6,500,000 | |||
Available-for-sale securities transfer to Held-to-Maturity at par value | $ 7,400,000 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Cumulative effect adoption adjustment | Common Stock | Preferred Stock | Capital surplus | Retained earnings | Retained earnings Cumulative effect adoption adjustment | Treasury stock | Accumulated other comprehensive income (loss) |
Beginning balance at Dec. 31, 2019 | $ 6,016,779 | $ (205,842) | $ 1,044 | $ 50,160 | $ 4,447,412 | $ 2,147,915 | $ (205,842) | $ (459,814) | $ (169,938) |
Increase Decrease In Stockholders Equity | |||||||||
Net income | 506,622 | 506,622 | |||||||
Issuance of stock | 4,263 | 1 | 4,262 | ||||||
Dividends declared: | |||||||||
Common stock | (136,561) | (136,561) | |||||||
Preferred stock | (1,758) | (1,758) | |||||||
Common stock purchases | (504,172) | 76,335 | (580,507) | ||||||
Common stock reissuance | 4,830 | (1,192) | 6,022 | ||||||
Preferred stock redemption amount | (28,017) | (28,017) | |||||||
Stock based compensation | 12,614 | (4,731) | 17,345 | ||||||
Other comprehensive (loss) income, net of tax | 359,929 | 359,929 | |||||||
Transfer to statutory reserve | 0 | 49,448 | (49,448) | ||||||
Ending balance at Dec. 31, 2020 | 6,028,687 | 1,045 | 22,143 | 4,571,534 | 2,260,928 | (1,016,954) | 189,991 | ||
Increase Decrease In Stockholders Equity | |||||||||
Net income | 934,889 | 934,889 | |||||||
Issuance of stock | 4,674 | 1 | 4,673 | ||||||
Dividends declared: | |||||||||
Common stock | (142,290) | (142,290) | |||||||
Preferred stock | (1,412) | (1,412) | |||||||
Common stock purchases | (355,650) | (8,557) | (347,093) | ||||||
Stock based compensation | 15,559 | 4,162 | 11,397 | ||||||
Other comprehensive (loss) income, net of tax | (515,060) | (515,060) | |||||||
Transfer to statutory reserve | 0 | 78,370 | (78,370) | ||||||
Ending balance at Dec. 31, 2021 | 5,969,397 | 1,046 | 22,143 | 4,650,182 | 2,973,745 | (1,352,650) | (325,069) | ||
Increase Decrease In Stockholders Equity | |||||||||
Net income | 1,102,641 | 1,102,641 | |||||||
Issuance of stock | 5,837 | 1 | 5,836 | ||||||
Dividends declared: | |||||||||
Common stock | (163,693) | (163,693) | |||||||
Preferred stock | (1,412) | (1,412) | |||||||
Common stock purchases | (637,664) | 53,592 | (691,256) | ||||||
Stock based compensation | 18,178 | 4,450 | 13,728 | ||||||
Other comprehensive (loss) income, net of tax | (2,199,859) | (2,199,859) | |||||||
Transfer to statutory reserve | 0 | 76,933 | (76,933) | ||||||
Ending balance at Dec. 31, 2022 | $ 4,093,425 | $ 1,047 | $ 22,143 | $ 4,790,993 | $ 3,834,348 | $ (2,030,178) | $ (2,524,928) |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2022 | |
Common stock dividends per share cash paid | $ 2.20 | $ 1.75 | $ 1.60 | |
Accelerate share repurchase | ||||
Accelerated share repurchases settlement receipt | $ 631 | $ 350 | $ 500 | $ 400 |
DISCLOSURE OF CHANGES IN NUMBER
DISCLOSURE OF CHANGES IN NUMBER OF SHARES - shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Preferred Stock: | |||
Preferred stock - Balance at beginning of period | 885,726 | 885,726 | 2,006,391 |
Preferred stock shares redemption | 0 | 0 | (1,120,665) |
Preferred stock - Balance at ending of period | 885,726 | 885,726 | 885,726 |
Common Stock - Issued: | |||
Common stock - balance at beginning of period | 104,579,334 | 104,508,290 | 104,392,222 |
Issuance of stock | 78,188 | 71,044 | 116,068 |
Common stock - balance at end of period | 104,657,522 | 104,579,334 | 104,508,290 |
Treasury stock | (32,803,802) | (24,728,165) | (20,264,055) |
Common stock shares outstanding | 71,853,720 | 79,851,169 | 84,244,235 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income | $ 1,102,641,000 | $ 934,889,000 | $ 506,622,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for credit losses (benefit) | 83,030,000 | (193,464,000) | 292,536,000 |
Goodwill impairment losses | 9,000,000 | 0 | 0 |
Amortization of intangibles | 3,275,000 | 9,134,000 | 6,397,000 |
Depreciation and amortization of premises and equipment | 55,107,000 | 55,104,000 | 58,452,000 |
Net accretion of discounts and amortization of premiums and deferred fees | 29,120,000 | (21,962,000) | (63,300,000) |
Interest capitalized on loans subject to the temporary payment moratorium or loss mitigation alternatives | (11,521,000) | (15,567,000) | (95,212,000) |
Share-based compensation | 16,727,000 | 17,774,000 | 8,254,000 |
Impairment losses on right-of-use and long-lived assets | 2,233,000 | 5,320,000 | 18,004,000 |
Fair value adjustments on mortgage servicing rights | (166,000) | 10,206,000 | 42,055,000 |
Fair value adjustment for contingent consideration | (9,241,000) | 0 | 0 |
Adjustments to indemnity reserves on loans sold | (919,000) | (4,406,000) | (390,000) |
Earnings from investments under the equity method, net of dividends or distributions | (29,522,000) | (50,942,000) | (27,738,000) |
Deferred income tax (benefit) expense | (33,129,000) | 229,371,000 | 75,044,000 |
(Gain) loss on: | |||
Disposition of premises and equipment and other productive assets | (9,453,000) | (18,393,000) | (11,561,000) |
Proceeds from insurance claims | 0 | 0 | (366,000) |
Sale of debt securities | 0 | (23,000) | (41,000) |
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities | 252,000 | (21,611,000) | (32,449,000) |
Sale of equity method investment | (8,198,000) | 0 | 0 |
Disposition of stock as part of the Evertec Transactions | (240,412,000) | 0 | 0 |
Sale of foreclosed assets, including write-downs | (33,008,000) | (30,098,000) | (19,958,000) |
Acquisitions of loans held-for-sale | (122,363,000) | (251,336,000) | (227,697,000) |
Proceeds from sale of loans held-for-sale | 64,542,000 | 95,100,000 | 83,456,000 |
Net originations on loans held-for-sale | (202,913,000) | (527,585,000) | (391,537,000) |
Net decrease (increase) in: | |||
Trading debt securities | 353,301,000 | 741,465,000 | 493,993,000 |
Equity securities | 54,000 | (2,336,000) | (8,263,000) |
Accrued income receivable | (62,932,000) | 6,193,000 | (35,616,000) |
Other assets | 76,589,000 | 25,022,000 | 114,329,000 |
Net decrease in: | |||
Interest payable | 6,061,000 | (5,395,000) | (5,404,000) |
Pension and other postretirement benefits obligation | (2,893,000) | (4,104,000) | 5,898,000 |
Other liabilities | (20,724,000) | 22,802,000 | (106,736,000) |
Total adjustments | (88,103,000) | 70,269,000 | 172,150,000 |
Net cash provided by operating activities | 1,014,538,000 | 1,005,158,000 | 678,772,000 |
Cash flows from investing activities: | |||
Net decrease (increase) in money market investments | 11,922,703,000 | (5,895,789,000) | (8,378,577,000) |
Purchases of investment securities: | |||
Available-for-sale | (22,232,278,000) | (14,672,856,000) | (21,033,807,000) |
Held-to-maturity | (1,879,443,000) | 0 | 0 |
Equity | (48,921,000) | (16,196,000) | (30,794,000) |
Proceeds from calls, paydowns, maturities and redemptions of investment securities: | |||
Available-for-sale | 20,143,921,000 | 9,602,430,000 | 18,224,362,000 |
Held-to-maturity | 9,826,000 | 15,700,000 | 6,733,000 |
Proceeds from sale of investment securities: | |||
Available-for-sale | 0 | 235,992,000 | 5,103,000 |
Equity | 42,990,000 | 2,904,000 | 25,206,000 |
Net (disbursements) repayments on loans | (2,237,084,000) | 469,268,000 | (875,941,000) |
Proceeds from sale of loans | 141,314,000 | 203,179,000 | 84,385,000 |
Acquisition of loan portfolios | (753,684,000) | (348,179,000) | (1,138,276,000) |
Payments to acquire other intangible | 0 | (905,000) | (83,000) |
Payments to acquire businesses, net of cash acquired | 0 | (155,828,000) | 0 |
Return of capital from equity method investments | 681,000 | 6,362,000 | 959,000 |
Payments to acquire equity method investments | (1,625,000) | (375,000) | (1,778,000) |
Acquisition of premises and equipment | (103,789,000) | (72,781,000) | (60,073,000) |
Proceeds from insurance claims | 0 | 0 | 366,000 |
Proceeds from sale of: | |||
Premises and equipment and other productive assets | 10,305,000 | 21,482,000 | 26,548,000 |
Foreclosed assets | 107,203,000 | 86,942,000 | 77,521,000 |
Net cash provided by (used in) investing activities | 5,350,200,000 | (10,518,650,000) | (13,068,146,000) |
Net (decrease) increase in: | |||
Deposits | (5,770,261,000) | 10,138,617,000 | 13,102,028,000 |
Assets sold under agreements to repurchase | 57,006,000 | (29,700,000) | (72,076,000) |
Other short-term borrowings | 290,000,000 | 75,000,000 | 0 |
Payment of notes payable | (103,147,000) | (237,713,000) | (139,920,000) |
Principal payments of finance leases | (3,346,000) | (2,852,000) | (3,145,000) |
Proceeds from issuance of notes payable | 0 | 0 | 261,999,000 |
Proceeds from issuance of common stock | 5,837,000 | 4,674,000 | 9,093,000 |
Payments for repurchase of redeemable preferred stock | 0 | 0 | (28,017,000) |
Dividends paid | (161,516,000) | (141,466,000) | (133,645,000) |
Net payments for repurchase of common stock | (631,893,000) | (350,535,000) | (500,479,000) |
Payments related to tax witholding for share-based compensation | (5,771,000) | (5,115,000) | (3,693,000) |
Net cash (used in) provided by financing activities | (6,323,091,000) | 9,450,910,000 | 12,492,145,000 |
Net increase (decrease) in cash and due from banks, and restricted cash | 41,647,000 | (62,582,000) | 102,771,000 |
Cash and due from banks and restricted cash at beginning of period | 434,512,000 | 497,094,000 | 394,323,000 |
Cash and due from banks and restricted cash at end of period | 476,159,000 | 434,512,000 | 497,094,000 |
Other equity method investees | |||
Proceeds from sale of investment securities: | |||
Proceeds from sale of equity method investments / Evertec stock sale | 8,198,000 | 0 | 0 |
EVERTEC Assets | |||
Proceeds from sale of investment securities: | |||
Proceeds from sale of equity method investments / Evertec stock sale | $ 219,883,000 | $ 0 | $ 0 |
Nature of operations and basis
Nature of operations and basis of presentation | 12 Months Ended |
Dec. 31, 2022 | |
Nature of operation [Abstract] | |
Nature of operations and basis of presentation | Note 1 – Nature of Operations and basis of Nature of Operations Popular, and mainland United and investment subsidiaries. York-chartered and Florida, and equipment of PB based in Minnesota. Basis of Presentation Leveraging Corporation embarked 2022. important transformation will be a significant priority for the Corporation As part of this transformation, we aim to expand our digital capabilities, efficient initiative and fourth quarter of 2022, the expenses as standalone expense categories in the accompanying Consolidated statement of operations. There were no changes to the reclassified to conform to the current presentation. The following table provides the detail of 2021 2020 Financial statement line item As reported Adjustments Adjusted As reported Adjustments Adjusted Equipment expenses $ 92,097 $ (59,178) $ 32,919 $ 88,932 $ (56,418) $ 32,514 Professional services 410,865 (284,144) 126,721 394,122 (261,708) 132,414 Technology and - 277,979 277,979 - 263,886 263,886 Processing and transactional services - 121,367 121,367 - 112,039 112,039 Communications 25,234 (11,205) 14,029 23,496 (10,266) 13,230 Other expenses 136,988 (44,819) 92,169 128,882 (47,533) 81,349 Net effect on operating expenses $ 665,184 $ - $ 665,184 $ 635,432 $ - $ 635,432 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies | |
Summary of significant accounting policies | Note 2 – Summary of significant accounting The principles generally accepted in the United States The following is a description of the most significant Principles of consolidation The transactions have been Corporation therefore, it is the primary beneficiary. Assets included in the Consolidated Statements of Financial Unconsolidated investments, in generally accounted for by the equity method unless the investor’s over proportionate share of income or loss is included Statutory business trusts that are wholly-owned by the Corporation and are in the Corporation’s Consolidated Financial Statements. Business combinations Business combinations are accounted for under the acquisition method. Under this method, assets acquired, liabilities assumed and any noncontrolling acquisition classified as an asset in fair changes completed by the Corporation for the years presented. Use of estimates in the preparation of financial The preparation of financial requires management to make assets reporting period. Actual results could differ from those estimates. Fair value measurements The Corporation determines the fair values of its for minimize received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly may observable market-based inputs or unobservable inputs not corroborated values. The transactions are transactions are not not orderly should be given considered available to other transactions that are known to be orderly. Investment securities Investment securities are classified in four categories and ● maturity and reported debt securities held-to-maturity. The Corporation has established a methodology to estimate credit losses which qualitative factors, expected amount is deemed uncollectible, based on the information considered to develop expected credit losses through the life of the collateralized by nd factors are stressed, historical reverting, transfer held-to-maturity securities without calling into question its nonrecurring or unusual event that could not have ● included in non-interest income. ● amortized cost which are not related to estimated credit losses are recorded through other comprehensive income or loss, net of security, recorded through an The ACL is established for the expected credit losses over the remaining term of debt security. The Corporation’s portfolio of These agencies, and have a and no credit performance on a for-sale are written-off when to realized securities in the Consolidated Statements of Operations. ● available fair changes in Corporation (“FHLB”) stock, is included in this category, and their realizable value equals their cost. Unrealized and realized gains and losses and any impairment on equity securities are included in net gain (loss), including impairment on equity securities in the Consolidated Statements income. The method basis. Derivative financial instruments All derivatives are recognized on the Statements of Financial Condition at value arrangement nor to offset the fair value amounts recognized for the return cash collateral (a payable) arising from the For comprehensive income/(loss) and subsequently impacts earnings. For free-standing derivative instruments, Prior hedged includes forecasted transactions basis, Hedge accounting terminated, when it is unlikely that a forecasted transaction will hedge accounting is discontinued the derivative continues For non-exchange similar techniques for which the determination of The fair value of derivative instruments considers The Corporation obtains or pledges collateral in . Loans Loans future, or loan, foreseeable future may change based on changes in these conditions. When a decision is made to sell or securitize a loan that not originated or Due to changing market conditions or other change, between loans held-for-sale and held-in-portfolio Purchased discounts are included in the determination of fair Loans held-for-sale are stated unearned income, and fair value determined, generally in similar loans, assumptions deferred origination fees and costs, which are recognized in earnings related already been provided for in the ACL, an additional provision for credit losses is recorded. Subsequent to reclassification to held-for- sale, the amount, in the determination of net income (loss) for Loans held-in-portfolio deferred fees and the method over the term of the loan as an adjustment The past due status of a loan is determined in accordance with its past due when either interest or principal remains Non-accrual loans are those loans on which the previously method or expects repayment of the remaining contractual principal Recognition of interest income on commercial and construction loans is discontinued when the loans are 90 days or more in arrears on payments of principal or interest or when other factors indicate that the collection of principal and interest is of dependent generally recognized. mortgage portion of a the recognition the U.S. these loans is insured. Recognition of interest income when the consumer loans, financing is ceased when are 120 consumer overdrafts are generally charged-off no later than A loan classified loan continues payments (at least six months of sustained performance after the modification annual payments)) foreseeable future. Lease financing The method of accounting ASC Topic receivable. amounts outstanding. Finance lease origination adjustment to the interest yield. Revenue for other leases is recognized as it becomes Loans acquired with deteriorated credit quality Purchased credit quality since origination. Upon the acquisition of a PCD loan, the Corporation makes an estimate term addition to the loan purchase price. The amount of the purchased over the life of interest charge nonaccrual policies as non-PCD loans. Modifications of PCD loans that meet the definition of such following the same processes as non-PCD loans. Refer to Note 8 to the Consolidated Financial Statements credit quality. Accrued interest receivable The Corporation has elected the Corporation’s status. Allowance for credit losses – loans portfolio The Corporation establishes an ACL of the loans, adjusted for expected prepayments. An ACL is recognized for all loans including originated and purchased loans, since inception, with recorded recoveries are credited to the ACL. The estimating methodology, management procedures weights include baseline, optimistic and pessimistic scenarios. The weights applied are subject to evaluation on a quarterly basis as part adjustment framework. The judgment. portfolios and product supportable period of 2 years for PR portfolios, gradually the impacted period gradually reverting, over a 3-years horizon, The determined lending prepayments, and other loan part expectations. In information. delinquency status, risk ratings, interest rate, loan The ACL within the quantitative modeling framework, and model imprecision. In order the quantitative model. The into there are sectors qualitative adjustments qualitative adjustment mainly impacts consumer portfolios. The foreclosure is provided collateral dependent loans based on appraisals, which may be adjusted due to their market conditions to reflect the expected change in In discounting concessions is combined with the expected credit losses generated by the quantitative loss models in order to arrive at a result, the ACL related to TDRs is impacted by The Credit Cards term behaviors were revolvers and customers that have exhibited mixed transactor/revolver behavior. Transactors are defined as active accounts without any exposure at loan level default and loss severity modeling to arrive Troubled debt restructurings A restructuring agreement between the Corporation and the in the collection. amounts collateral, therefore, all factors that changed are considered to determine if a concession was granted, including the change in the fair value of the judgment. Indicators that the debtor is experiencing financial difficulties default on any of its without the modification; (ii) to process of being delisted, encompass service the and effective interest rate equal to the current market interest rate for similar debt for a non-troubled debtor. The identification of TDRs is critical in the determination of the adequacy of the ACL. A loan Note interest. Note B represents the portion of the original loan that may be considered uncollectible and charged-off, but the obligation is not forgiven accrual status are met. The modified loans are Refer determination of the ACL. Reserve for unfunded commitments The Corporation facility. reserve commitments reserve for unfunded commitments are years ended December 31, 2022 and 2021. Transfers and servicing of financial assets The transfer which the Corporation surrenders control over the assets is accounted Topic conditions that constrain it cannot maintain effective control over the derecognizing the transferred financial Rico income accounting guidance, as sales, recognizing a deferred For transfers sold; recognizes all servicing liabilities, if earnings any gain or loss on the sale. The guidance Corporation was a debtor under the bankruptcy code. A true sale legal analysis includes several legally relevant factors, such as the nature and level of recourse to the transferor, and the nature of retained interests in the loans sold. The analytical conclusion as to a true sale court, as nature derecognition of assets is warranted. The Corporation sells mortgage loans to the Government National Mortgage Association (“GNMA”) and retains the servicing rights. The GNMA programs under which the delinquent loans that meet certain criteria. At the Corporation’s option, and without GNMA’s prior authorization, the Corporation may repurchase the delinquent has the the repurchase the loan. Servicing assets The addition, undertakes an servicing servicer received are not fair value are separately presented on the Consolidated All separately recognized servicing assets are initially recognized at fair value. For subsequent Corporation method, activities in the Consolidated Statement of Operations. Contractual fair fees, which are based on a percentage of the principal balances of the collected. The fair value future net servicing cash flows, taking into consideration actual and expected loan prepayment rates, discount rates, servicing and other economic factors, which are determined Premises and equipment Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed on a line basis over the estimated useful life of each the respective which do not capitalized. When assets are gain or loss is reflected in earnings as realized The Corporation facilities incurred during the on a weighted the asset. Interest cost capitalized for the years ended The arrangements in its Consolidated Statements of Financial Condition within other assets and other liabilities, respectively. For finance leases, interest is recognized on the a single lease cost on ROU assets are evaluated under the guidance for impairment on sale and Note 33 to the Consolidated Financial Statements Impairment of long-lived assets The whenever events or changes write down for the difference between the carrying amount Other real estate Other between the carrying amount of the loan and the fair value less cost to foreclosure, any sale of these properties are credited or charged to expense in the period incurred and are included as OREO expenses. The cost of maintaining and operating such properties is expensed Updated appraisals total credit exposure. The appraisal for a commercial or construction other real estate property with a book than $1 million is updated annually and if lower Corporation requests appraisals annually. Appraisals applied are based upon can provide historical trends in the real estate market Goodwill and other intangible assets Goodwill is recognized when the purchase price the purchase events or circumstances indicate possible impairment. If the Corporation would be required to record an impairment fair comparable companies and transactions, as well as discounted cash flow analysis. Goodwill impairment of operating expenses in the Consolidated Statements Other intangible assets deemed which compares the fair value with the carrying amount of the asset. In determining Corporation could limit the intangible asset’s useful life. Other periods changes in circumstances useful life are evaluated under the guidance for Assets sold / purchased under agreements to repurchase Repurchase and resell agreements assets will be subsequently reacquired or resold as It is the such Corporation’s Consolidated Statements as compared to the related receivable, including accrued It securities continue to be carried on the Consolidated The Corporation may require counterparties to deposit Software Capitalized capitalizable application development costs associated with internally-developed software. Amortization, computed on a straight-line method, is charged to operations the Consolidated Statement of Financial Condition. Guarantees, The estimated losses to be absorbed under the credit are updated by sold” information macroeconomic expectations historical estimate the recourse liability. Expected loss rates are the amount expected to be lost losses Financial Condition. Refer to Note 23 to the Consolidated Treasury stock Treasury stock is Condition. retirement, the excess of the cost of the treasury stock over between the consideration received upon issuance and Revenues from contract with customers Refer contract with customers. Foreign exchange Assets and liabilities of foreign currency translation adjustment accumulated operating expenses. The Corporation BHD León is operations is reported in accumulated other comprehensive Refer to the disclosure of accumulated other comprehensive Income taxes The Corporation recognized in differences between financial statement and tax bases of assets and liabilities that will result in taxable or deductible future. expected to be recovered or settled. The based on the available evidence, it is more likely be Corporation appropriate consideration assessment considers, among others, reversal of existing temporary differences, the future taxable income taxable income in carryback years and tax-planning strategies. In making such that can be objectively verified. The valuation recognized in the Corporation’s financial statements or tax returns and future profitability. tax consequences represents management’s best estimate Positions taken in tax positions will be sustained upon examination by the tax authorities, assuming full knowledge of the position and all relevant facts. of unrecognized tax benefit may increase or decrease in the positions, expiration of open income tax returns due to the statute of limitations, changes in management’s judgment about the level of authorities and legislative activity. The Corporation accounts for the taxes collected from customers from revenues). Income comprehensive income, as applicable. The from cause changes in tax status, and (d) tax-deductible Employees’ retirement and other postretirement benefit Pension costs are are based during the gains or losses. The funding policy is the particular year. The cost these benefits in the future, is accrued during The guidance for compensation pension Condition. Stock-based compensation The employee share plans in ASC Subtopic 718-50. Comprehensive income Comprehensive income other events income (loss) is separately presented in the Consolidated Net income per common share Basic income per common share is computed by dividing net income adjusted for preferred stock dividends, including undeclared or unpaid dividends preferred stock, by the weighted average number of takes into consideration the weighted average common shares adjusted for the effect of stock options, restricted stock, performance shares and warrants, if any, using the treasury stock method. Statement of cash flows For purposes of reporting cash flows, cash includes |
New accounting pronouncements
New accounting pronouncements | 12 Months Ended |
Dec. 31, 2022 | |
New Accounting Pronouncements and Changes in Accounting Principles | |
New Accounting Pronouncements | Note 3 - New accounting pronouncements Recently Adopted Accounting Standards Updates Standard Description Date of adoption Effect on the financial statements FASB ASU 2022-06, Reference Rate Reform (Topic 848) - Deferral of the Sunset Date of Topic 848 The Update 2022, which defers the sunset date of 848 from 31, guidance accounting for (or recognizing the effects of) reference rate reform on financial reporting. December 21, 2022 The the the adopted Reference Rate December 2021, as disclosed in Note 2 to Statements the The LIBOR-based 2021. FASB ASU 2021-05, Leases (Topic 842), Lessors – Certain Leases with Variable Lease Payments The 2021, which amends ASC Topic lessors those that, have direct loss would have been recognized. January 1, 2022 The the the not variable lease payments. FASB ASU 2021-04, Earnings per Share (Topic 260), Debt – Modifications and Extinguishments (Subtopic 470-50), Compensation – Stock Compensation (Topic 718), and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity- Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force) The 2021, modification freestanding option that modification EPS recognized as an adjustment to equity. January 1, 2022 The the the not written call this guidance. FASB ASU 2020-06, Debt – Debt with Conversion and other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The 2020 the and contracts amends these instruments. January 1, 2022 The Corporation adopted ASU during was adoption accelerated transaction discussed in Note 17, which was and considered share calculation. FASB ASUs Financial Instruments – Credit Losses (Topic 326) The CECL sheet exposures. CECL establishes a forward-looking methodology that reflects the expected credit losses over the lives of financial assets, based on past CECL approach with amortized financial assets credit loss January 1, adequacy of the allowance for credit losses to provide As a result of the adoption, the Corporation recorded an 315 million, and 9 which is 13 related approach. Therefore, the opening 17 related to loans balance CECL 205.8 purchased credit impaired (“PCI”) loans and, as Accounting Standards Updates Not Yet Adopted Standard Description Date of adoption Effect on the financial statements FASB ASU 2022-05, Financial Services - Insurance (Topic 944) Transition for Sold Contracts The December 2022, which entity to make of (LDTI) transition guidance by-transaction been disposal significant derecognized contract. January 1, 2023 The Corporation impacted standard since Duration Contracts (LDTI). FASB ASU 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50) Disclosure of Supplier Finance Program Obligations The September 2022, which requires to disclose information finance purchase of goods and services. January 1, 2023 The Corporation impacted standard since finance programs. FASB ASU 2022-03, Fair Value Measurement (Topic 820) Fair Value Measurement of Equity Securities Subject to Contractual Sale Restriction The 2022, restriction that prohibits the sale of an equity security is account not The disclosures for equity securities contractual sale restriction. January 1, 2024 The that pronouncement effect financial operations. FASB ASU 2022-02, Financial Instruments— Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures The 2022, guidance (“TDRs”) in Troubled and refinancing determine whether a new loan. disclosure refinancing when difficulty disclosure current-period origination for financing investments in leases. January 1, 2023 The adoption of this in modified difficulties charge Corporation be loans subject to disclosure under the new standard that the prior guidance the disclosures. eliminates the effect of the concession from a modification, for used model. estimates discontinuing the use of the DCF model to measure the concession will a $45 million, loans included interest maturity resulted the Corporation modified retrospective approach adoption this will increase, beginning balance upon adoption on January 1, 2023. Accounting Standards Updates Not Yet Adopted Standard Description Date of adoption Effect on the financial statements FASB ASU 2022-01, Derivatives and Hedging (Topic 815) – Fair Value Hedging—Portfolio Layer Method The 2022, allowing also hedged This fair closed prepayable considering when measuring those assets. January 1, 2023 The Corporation impacted standard derivatives hedges. FASB ASU 2021-08, Business Combinations (Topic 805) – Accounting for Contract Assets and Contract Liabilities from Contracts with Customers The FASB 2021, requiring liabilities arising customers with ASC instead of fair value. January 1, 2023 Upon Corporation will for recognized combinations the effective date. |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2022 | |
Business Combinations [Abstract] | |
Business Combination | Note 4 – Acquisition of key customer channels and business On July Group”), Transaction”). As including Business Acquisition Transaction, BPPR to BPPR and their respective subsidiaries. Under the services. The the Consumer Price Index. As connection Agreement (“MSA”), Evertec will be entitled to receive monthly payments covered under the MSA, fall below certain agreed As consideration for the 4,589,169 stock valued at closing at $ 169.2 36.88 ). A total of $ 144.8 consideration for 28.7 Software 116.1 combination. 24.2 expense. The Corporation also recorded a credit of $ 6.9 a result of the Business Acquisition Transaction, resulting in a net 17.3 On 7,065,634 “Evertec Stock Sale”, and collectively Stock consideration expense associated with the renegotiation of the MSA, together with the Evertec Stock Sale and the related accounting adjustments of the Evertec Transactions, resulted in an aggregate after-tax gain 226.6 The following July 1, 2022. (In thousands) Fair Value Stock consideration $ 144,785 Total consideration $ 144,785 Assets: Developed technology - Software intangible assets $ 28,650 Total assets $ 28,650 Net assets acquired $ 28,650 Goodwill on acquisition $ 116,135 The fair date analysis, there may decrease. The Acquisition Transaction: Developed technology – Software intangible assets In order 820, incurred in developing the acquired technology as the assets’ fair value. In developing this historical direct costs as well as indirect costs and applied an inflation factor to arrive at what would be the current replacement cost. To technology. and acquired amortized over its current estimated remaining useful 5 Goodwill The goodwill net of Revenue Code (“IRC”) section 1033.07 over a 15 -year period. The Corporation believes operations, the historical results of Evertec are not Acquisition of K2 Capital Group LLC’s equipment leasing and financing On October completed the leasing and transaction consisted of $ 105 14 Specializing in the healthcare industry, leases, acquisition provides PB with a national equipment The assumed by PEF as of October 15, 2021. (In thousands) Fair Value Cash consideration $ 156,628 Contingent consideration 9,241 Total consideration $ 165,869 Assets: Cash and due from banks $ 800 Commercial loans 115,575 Premises and equipment 8,996 Accrued income receivable 57 Other assets 2,822 Other intangible assets 2,887 Total assets $ 131,137 Other liabilities 14,439 Total liabilities $ 14,439 Net assets acquired $ 116,698 Goodwill on acquisition $ 49,171 The fair date analysis, there may decrease. Following is a description of the K2 Transaction: Commercial Loans In determining the fair value considered. collateral, or from the residual value. Fair values for commercial working capital lines were calculated based on the present value of remaining contractual payments discounted loans were loans amounted to $ 125 1 provision for credit losses, which represents the estimate Goodwill The acquired, Internal Revenue Code (“IRC”) section 197 over 15 -year period. During the third recorded a goodwill impairment charge of $ 9.0 Contingent consideration The fair value of the contingent consideration, which related to approximately $ 29 to K2 over a three-year period, was calculated based During the contingent payment, and accordingly, recorded a positive adjustment of $ 9.2 The Corporation believes that given the to presented. |
Restrictions on cash and due fr
Restrictions on cash and due from banks and certain securities | 12 Months Ended |
Dec. 31, 2022 | |
Restricted cash and investment [Abstract] | |
Restricted On Cash And Due From Banks And Certain Securities | Note 5 - Restrictions on cash and due from BPPR is “Fed”) or 2.8 2021 2.7 reserve balances. At 80 accounts, debt 50 debt securities available for plans and fund deposits guaranteeing possible liens |
Debt securities available-for-s
Debt securities available-for-sale | 12 Months Ended |
Dec. 31, 2022 | |
Debt securities available-for-sale | |
Schedule of Available-for-sale Securities [Line Items] | |
Investments in debt and marketable equity securities | Note 6 – Debt securities available-for-sale The following tables present and contractual maturities of debt securities available-for-sale At December 31, 2022 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 4,576,127 $ 506 $ 47,156 $ 4,529,477 2.42 % After 1 to 5 years 6,793,739 - 410,858 6,382,881 1.35 After 5 to 10 years 308,854 - 40,264 268,590 1.63 Total U.S. Treasury 11,678,720 506 498,278 11,180,948 1.78 Collateralized mortgage obligations - federal agencies After 1 to 5 years 3,914 - 213 3,701 1.77 After 5 to 10 years 47,979 - 3,428 44,551 1.73 After 10 years 127,639 24 10,719 116,944 2.53 Total collateralized 179,532 24 14,360 165,196 2.30 Mortgage-backed securities After 1 to 5 years 74,328 11 3,428 70,911 2.33 After 5 to 10 years 866,757 43 58,997 807,803 2.16 After 10 years 6,762,150 932 1,184,626 5,578,456 1.61 Total mortgage-backed 7,703,235 986 1,247,051 6,457,170 1.68 Other After 1 to 5 years 1,062 - 2 1,060 3.98 Total other 1,062 - 2 1,060 3.98 Total debt securities [1] $ 19,562,549 $ 1,516 $ 1,759,691 $ 17,804,374 1.75 % [1] 11.3 servicing agreements that the secured parties are not permitted 10.3 public funds. At December 31, 2021 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 1,225,558 $ 13,556 $ 69 $ 1,239,045 2.33 % After 1 to 5 years 10,059,163 98,808 65,186 10,092,785 1.18 After 5 to 10 years 4,563,265 739 36,804 4,527,200 1.22 Total U.S. Treasury 15,847,986 113,103 102,059 15,859,030 1.27 Obligations of U.S. Government sponsored entities Within 1 year 70 - - 70 5.63 Total obligations of 70 - - 70 5.63 Collateralized mortgage obligations - federal agencies After 1 to 5 years 2,433 42 - 2,475 2.16 After 5 to 10 years 43,241 295 6 43,530 1.54 After 10 years 172,176 3,441 357 175,260 2.13 Total collateralized 217,850 3,778 363 221,265 2.01 Mortgage-backed securities Within 1 year 11 1 - 12 4.79 After 1 to 5 years 65,749 2,380 11 68,118 2.23 After 5 to 10 years 665,600 17,998 5 683,593 1.97 After 10 years 8,263,835 68,128 195,910 8,136,053 1.67 Total mortgage-backed 8,995,195 88,507 195,926 8,887,776 1.69 Other After 1 to 5 years 123 5 - 128 3.62 Total other 123 5 - 128 3.62 Total debt securities [1] $ 25,061,224 $ 205,393 $ 298,348 $ 24,968,269 1.42 % [1] Includes $ 22 .0 billion pledged to secure government and trust deposits, servicing agreements that the secured parties are not permitted 20.9 public funds. The weighted changes in fair value. Securities obligations, are classified mortgage-backed securities and certain other securities may prepayments or may be called by the issuer. The following table presents the by contractual maturity. (In thousands) Amortized cost Fair value Within 1 year $ 4,576,127 $ 4,529,477 After 1 to 5 years 6,873,043 6,458,553 After 5 to 10 years 1,223,590 1,120,944 After 10 years 6,889,789 5,695,400 Total debt securities $ 19,562,549 $ 17,804,374 There were no 31, 2021, 236 losses on the sale of debt securities available-for-sale (In thousands) 2022 2021 2020 Gross realized gains $ - $ 695 $ 41 Gross realized losses - (672) - Net realized gains (losses) on sale of debt securities available $ - $ 23 $ 41 The aggregated by investment category at December 31, 2022 and 2021. At December 31, 2022 Less than 12 months 12 months or more Total Gross Gross Gross Fair Fair Fair (In thousands) value losses value losses value losses U.S. Treasury securities $ 6,027,786 $ 288,582 $ 3,244,572 $ 209,696 $ 9,272,358 $ 498,278 Collateralized mortgage obligations - federal agencies 139,845 10,655 22,661 3,705 162,506 14,360 Mortgage-backed securities 1,740,214 138,071 4,662,195 1,108,980 6,402,409 1,247,051 Other 60 2 - - 60 2 Total debt securities $ 7,907,905 $ 437,310 $ 7,929,428 $ 1,322,381 $ 15,837,333 $ 1,759,691 At December 31, 2021 Less than 12 months 12 months or more Total Gross Gross Gross Fair Fair Fair (In thousands) value losses value losses value losses U.S. Treasury securities $ 9,590,448 $ 102,059 $ - $ - $ 9,590,448 $ 102,059 Collateralized mortgage obligations - federal agencies 35,533 334 1,084 29 36,617 363 Mortgage-backed securities 5,767,556 170,614 595,051 25,312 6,362,607 195,926 Total debt securities $ 15,393,537 $ 273,007 $ 596,135 $ 25,341 $ 15,989,672 $ 298,348 As of 1.8 billion, driven mainly by fixed-rate U.S. Treasury Securities and mortgage-backed securities, in fair value as of FHMLC and GNMA. guarantee Accordingly, the Corporation applies a zero-credit loss assumption and no ACL for In October 2022, the 6.5 7.4 its available-for-sale portfolio to its held-to-maturity portfolio. to maturity income (loss) (“AOCI”) and time of 873.0 This fair value discount is being accreted to interest income and the unrealized loss remaining in AOCI is being amortized, offsetting each other through the remaining life of the securities. |
Debt securities held-to-maturit
Debt securities held-to-maturity | 12 Months Ended |
Dec. 31, 2022 | |
Held To Maturity Debt Securities | |
Schedule of Held-to-maturity Securities [Line Items] | |
Investments in debt and marketable equity securities | Note 7 –Debt securities held-to-maturity The following value, weighted average yield and contractual At December 31, 2022 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 $ 499,034 $ 499,034 $ - $ 499,034 $ - $ 6,203 $ 492,831 2.83 % After 1 to 5 years 6,147,568 5,640,767 - 5,640,767 - 59,806 5,580,961 1.49 After 5 to 10 years 2,638,238 2,313,666 - 2,313,666 - 14,857 2,298,809 1.41 Total U.S. Treasury 9,284,840 8,453,467 - 8,453,467 - 80,866 8,372,601 1.54 Obligations of Puerto Rico, States and political subdivisions Within 1 year 4,530 4,530 8 4,522 5 - 4,527 6.08 After 1 to 5 years 19,105 19,105 234 18,871 150 82 18,939 4.24 After 5 to 10 years 1,025 1,025 34 991 34 - 1,025 5.80 After 10 years 41,261 41,261 6,635 34,626 4,729 2,229 37,126 1.40 Total obligations of political subdivisions 65,921 65,921 6,911 59,010 4,918 2,311 61,617 2.61 Collateralized mortgage obligations - federal agencies After 1 to 5 years 19 19 - 19 - - 19 6.44 Total collateralized federal agencies 19 19 - 19 - - 19 6.44 Securities in wholly owned statutory business trusts After 10 years 5,959 5,959 - 5,959 - - 5,959 6.33 Total securities business trusts 5,959 5,959 - 5,959 - - 5,959 6.33 Total debt securities $ 9,356,739 $ 8,525,366 $ 6,911 $ 8,518,455 $ 4,918 $ 83,177 $ 8,440,196 1.55 % [1] Book value includes $ 831 securities transferred from available-for-sale securities [2] Includes $ 6.9 At December 31, 2021 Allowance Gross Gross Weighted Amortized for Credit Net of unrealized unrealized Fair average (In thousands) cost Losses Allowance gains losses value yield Obligations of Puerto Rico, States and political subdivisions Within 1 year $ 4,240 $ 7 $ 4,233 $ 4 $ - $ 4,237 6.07 % After 1 to 5 years 14,395 148 14,247 149 - 14,396 6.23 After 5 to 10 years 11,280 122 11,158 104 - 11,262 2.18 After 10 years 43,561 7,819 35,742 11,746 - 47,488 1.50 Total obligations of subdivisions 73,476 8,096 65,380 12,003 - 77,383 2.79 Collateralized mortgage obligations - federal agencies After 1 to 5 years 25 - 25 - - 25 6.44 Total collateralized agencies 25 - 25 - - 25 6.44 Securities in wholly owned statutory business trusts After 10 years 5,960 - 5,960 - - 5,960 6.33 Total securities trusts 5,960 - 5,960 - - 5,960 6.33 Total debt securities $ 79,461 $ 8,096 $ 71,365 $ 12,003 $ - $ 83,368 3.06 % Securities not due final contractual maturity. The their contractual maturities because they may be The following by contractual maturity. (In thousands) Amortized cost Book Value Fair value Within 1 year $ 503,564 $ 503,564 $ 497,358 After 1 to 5 years 6,166,692 5,659,891 5,599,919 After 5 to 10 years 2,639,263 2,314,691 2,299,834 After 10 years 47,220 47,220 43,085 Total debt securities $ 9,356,739 $ 8,525,366 $ 8,440,196 Credit Quality Indicators The following describes the credit quality the allowance for credit losses for investment securities As discussed in Note 2 to the Consolidated Financial Statements, U.S. Treasury securities carry Government are applies a zero-credit loss assumption and no ACL At December 31, 2022 and December 31, 2021, the “Obligations to-maturity, includes $ 25 from 30 obligations, they required by law to levy property taxes in an amount sufficient for the payment of Corporation performs periodic credit quality on its evaluation. these Financial Statements. The aggregated by the internally assigned standardized At December 31, 2022 At December 31, 2021 (In thousands) Securities issued by Puerto Rico municipalities Watch $ 13,735 $ 16,345 Pass 10,925 13,800 Total $ 24,660 $ 30,145 At December 42 securities source of payment is second mortgage loans in Puerto Rico a guarantee 43 securities evaluating the refreshed refreshed FICO 65 % estimate was 707 64 % 704 , based on the methodology established under CECL guarantee when estimating the credit losses associated A instrumentalities (including if any of could further affect the value of these securities, resulting in losses Refer to to the for additional Rico Government. Delinquency status At December 31, 2022 and December 31, 2021, no Allowance for credit losses on debt securities held-to-maturity The following table provides the at December 31, 2022 and December 31, 2021: For the year ended December 31, 2022 2021 (In thousands) Obligations of Puerto Rico, States and political subdivisions Allowance for credit losses: Beginning balance $ 8,096 $ 10,261 Provision for credit losses (benefit) (1,185) (2,165) Securities charged-off - - Recoveries - - Ending balance $ 6,911 $ 8,096 The 0.3 securities issued by municipalities of 6.6 second mortgage loans on 0.3 7.8 31, 2021). |
Loans
Loans | 12 Months Ended |
Dec. 31, 2022 | |
Receivables | |
Loans | Note 8 – Loans For Summary of Significant Accounting Policies of this Form During the year ended December 31, 2022, the Corporation recorded purchases (including repurchases) of mortgage loans 299 million, which 4 433 loans of $ 142 393 14 PCD loans, consumer loans of $ 61 139 The Corporation performed 63 138 commercial and 145 mortgage 131 Corporation securitized 169 mortgage-backed securities 122 backed securities, compared 380 330 Corporation 9 mortgage-backed securities during the year ended December Delinquency status The following tables present the and by loan class including those that are in non-performing status or that are accruing December 31, 2022 and 2021. December 31, 2022 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 $ 425 $ - $ 242 $ 667 $ 280,706 $ 281,373 $ 242 $ - Commercial real estate: Non-owner occupied 941 428 23,662 25,031 2,732,296 2,757,327 23,662 - Owner occupied 729 245 23,990 24,964 1,563,092 1,588,056 23,990 - Commercial and industrial 3,036 941 35,777 39,754 3,756,754 3,796,508 34,277 1,500 Construction - - - - 147,041 147,041 - - Mortgage 222,926 91,881 579,993 894,800 5,215,479 6,110,279 242,391 337,602 Leasing 11,983 3,563 5,941 21,487 1,564,252 1,585,739 5,941 - Consumer: Credit cards 7,106 5,049 11,910 24,065 1,017,766 1,041,831 - 11,910 Home equity lines of credit - - - - 2,954 2,954 - - Personal 13,232 8,752 18,082 40,066 1,545,621 1,585,687 18,082 - Auto 68,868 19,243 40,978 129,089 3,383,441 3,512,530 40,978 - Other 487 87 12,682 13,256 124,324 137,580 12,446 236 Total $ 329,733 $ 130,189 $ 753,257 $ 1,213,179 $ 21,333,726 $ 22,546,905 $ 402,009 $ 351,248 December 31, 2022 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 $ 2,177 $ - $ - $ 2,177 $ 2,038,163 $ 2,040,340 $ - $ - Commercial real estate: Non-owner occupied 484 - 1,454 1,938 1,740,405 1,742,343 1,454 - Owner occupied - - 5,095 5,095 1,485,398 1,490,493 5,095 - Commercial and industrial 12,960 2,205 4,685 19,850 2,022,842 2,042,692 4,319 366 Construction - - - - 610,943 610,943 - - Mortgage 16,131 5,834 20,488 42,453 1,244,739 1,287,192 20,488 - Consumer: Credit cards - - - - 39 39 - - Home equity lines of credit 413 161 4,110 4,684 64,278 68,962 4,110 - Personal 1,808 1,467 1,958 5,233 232,659 237,892 1,958 - Other - - 8 8 9,960 9,968 8 - Total $ 33,973 $ 9,667 $ 37,798 $ 81,438 $ 9,449,426 $ 9,530,864 $ 37,432 $ 366 December 31, 2022 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 $ 2,602 $ - $ 242 $ 2,844 $ 2,318,869 $ 2,321,713 $ 242 $ - Commercial real estate: Non-owner occupied 1,425 428 25,116 26,969 4,472,701 4,499,670 25,116 - Owner occupied 729 245 29,085 30,059 3,048,490 3,078,549 29,085 - Commercial and industrial 15,996 3,146 40,462 59,604 5,779,596 5,839,200 38,596 1,866 Construction - - - - 757,984 757,984 - - Mortgage [1] 239,057 97,715 600,481 937,253 6,460,218 7,397,471 262,879 337,602 Leasing 11,983 3,563 5,941 21,487 1,564,252 1,585,739 5,941 - Consumer: Credit cards 7,106 5,049 11,910 24,065 1,017,805 1,041,870 - 11,910 Home equity lines of credit 413 161 4,110 4,684 67,232 71,916 4,110 - Personal 15,040 10,219 20,040 45,299 1,778,280 1,823,579 20,040 - Auto 68,868 19,243 40,978 129,089 3,383,441 3,512,530 40,978 - Other 487 87 12,690 13,264 134,284 147,548 12,454 236 Total $ 363,706 $ 139,856 $ 791,055 $ 1,294,617 $ 30,783,152 $ 32,077,769 $ 439,441 $ 351,614 [1] It is the Corporation’s policy to report delinquent residential the U.S. Department of Veterans Affairs repayment is insured. 14 into GNMA securities, in which the Corporation had a the obligation to repurchase loans that are 90 days or more required to be reflected (rebooked) on the financial statements 190 residential mortgage loans insured by FHA or guaranteed by the Corporation has approximately $ 42 interest. Due to the guaranteed nature of the loans, it is [2] Loans held-in-portfolio are net of $ 295 5 [3] Includes $ 7.4 of which $ 4.8 2.6 Bank ("FRB") for discount window borrowings. December 31, 2021 BPPR Past due Past due 90 days or more 30-59 60-89 90 days Total Non-accrual Accruing (In thousands) or more past due Current Loans HIP loans loans Commercial multi-family $ 314 $ - $ 272 $ 586 $ 154,183 $ 154,769 $ 272 $ - Commercial real estate: Non-owner occupied 2,399 136 20,716 23,251 2,266,672 2,289,923 20,716 - Owner occupied 3,329 278 54,335 57,942 1,365,787 1,423,729 54,335 - Commercial and industrial 3,438 1,727 45,242 50,407 3,478,041 3,528,448 44,724 518 Construction - - 485 485 86,626 87,111 485 - Mortgage 217,830 81,754 805,245 1,104,829 5,147,037 6,251,866 333,887 471,358 Leasing 9,240 2,037 3,102 14,379 1,366,940 1,381,319 3,102 - Consumer: Credit cards 5,768 3,520 8,577 17,865 901,986 919,851 - 8,577 Home equity lines of credit 46 - 23 69 3,502 3,571 - 23 Personal 10,027 6,072 21,235 37,334 1,250,726 1,288,060 21,235 - Auto 59,128 15,019 23,085 97,232 3,314,955 3,412,187 23,085 - Other 432 714 12,621 13,767 110,781 124,548 12,448 173 Total $ 311,951 $ 111,257 $ 994,938 $ 1,418,146 $ 19,447,236 $ 20,865,382 $ 514,289 $ 480,649 December 31, 2021 Popular U.S. Past due Past due 90 days or more 30-59 60-89 90 days Total Non-accrual Accruing (In thousands) or more past due Current Loans HIP loans loans Commercial multi-family $ 3,826 $ - $ - $ 3,826 $ 1,804,035 $ 1,807,861 $ - $ - Commercial real estate: Non-owner occupied 5,721 683 622 7,026 2,316,441 2,323,467 622 - Owner occupied 1,095 - 1,013 2,108 392,265 394,373 1,013 - Commercial and industrial 9,410 2,680 4,015 16,105 1,794,026 1,810,131 3,897 118 Construction - - - - 629,109 629,109 - - Mortgage 11,711 2,573 21,969 36,253 1,139,077 1,175,330 21,969 - Consumer: Credit cards - - - - 10 10 - - Home equity lines of credit 71 34 5,406 5,511 69,780 75,291 5,406 - Personal 863 574 681 2,118 152,827 154,945 681 - Other - - - - 4,658 4,658 - - Total $ 32,697 $ 6,544 $ 33,706 $ 72,947 $ 8,302,228 $ 8,375,175 $ 33,588 $ 118 December 31, 2021 Popular, Inc. Past due Past due 90 days or more 30-59 60-89 90 days Total Non-accrual Accruing (In thousands) or more past due Current Loans HIP [2] [3] loans loans Commercial multi-family $ 4,140 $ - $ 272 $ 4,412 $ 1,958,218 $ 1,962,630 $ 272 $ - Commercial real estate: Non-owner occupied 8,120 819 21,338 30,277 4,583,113 4,613,390 21,338 - Owner occupied 4,424 278 55,348 60,050 1,758,052 1,818,102 55,348 - Commercial and industrial 12,848 4,407 49,257 66,512 5,272,067 5,338,579 48,621 636 Construction - - 485 485 715,735 716,220 485 - Mortgage [1] 229,541 84,327 827,214 1,141,082 6,286,114 7,427,196 355,856 471,358 Leasing 9,240 2,037 3,102 14,379 1,366,940 1,381,319 3,102 - Consumer: Credit cards 5,768 3,520 8,577 17,865 901,996 919,861 - 8,577 Home equity lines of credit 117 34 5,429 5,580 73,282 78,862 5,406 23 Personal 10,890 6,646 21,916 39,452 1,403,553 1,443,005 21,916 - Auto 59,128 15,019 23,085 97,232 3,314,955 3,412,187 23,085 - Other 432 714 12,621 13,767 115,439 129,206 12,448 173 Total $ 344,648 $ 117,801 $ 1,028,644 $ 1,491,093 $ 27,749,464 $ 29,240,557 $ 547,877 $ 480,767 [1] It is the Corporation’s policy to report delinquent residential 90 days or more as opposed to non-performing since 13 December 31, 2021 related to the rebooking of loans Under the GNMA program, issuers such as BPPR have the For accounting purposes, these loans subject to repurchases with an offsetting liability. These 304 no longer accruing interest as of December 31, 2021. 50 which are guaranteed by FHA, but which are currently policy to exclude these balances from non-performing assets. [2] Loans held-in-portfolio are net of $ 266 59 [3] Includes $ 6.6 of which $ 3.2 1.7 1.7 billion serve as collateral for public funds. Recognition of interest income on mortgage loans is generally discontinued when loans are 90 days or more in arrears on payments of principal or interest. The Corporation discontinues the recognition of interest income on residential mortgage loans insured by the FHA or insured. At December 2.0 1.9 the FHA, 0.3 0.5 balances include 725 716 loans. 190 accruing interest 304 42 reverse mortgage loans in Puerto Rico which are guaranteed by FHA, but which are currently not accruing interest at December 31, 2022 (December 31, 2021 - $ 50 Loans with 14 GNMA securities (December 31, 2021 - 13 obligation to repurchase loans option portfolio benefit deferred payments or completes a payment deferral The components of the net financing leases, 2021 were as follows: (In thousands) 2022 2021 Total minimum lease $ 1,336,173 $ 1,190,545 Estimated residual value of leased property 605,638 518,670 Deferred origination costs, net of fees 24,909 21,474 Less - Unearned financing income 293,091 257,738 Net minimum lease payments 1,673,629 1,472,951 Less - Allowance for credit losses 22,216 18,581 Net minimum lease payments, net of allowance for credit losses $ 1,651,413 $ 1,454,370 At December 31, 2022, future minimum lease payments (In thousands) 2023 $ 111,779 2024 132,371 2025 177,836 2026 303,773 2027 402,035 2028 and thereafter 208,379 Total $ 1,336,173 The following tables present the amortized cost basis December 31, 2022 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 $ - $ 242 $ - $ - $ - $ 242 Commercial real estate non-owner occupied 15,639 8,023 1,454 - 17,093 8,023 Commercial real estate owner occupied 9,070 14,920 5,095 - 14,165 14,920 Commercial and industrial 20,227 14,050 - 4,319 20,227 18,369 Mortgage 119,027 123,364 71 20,417 119,098 143,781 Leasing 458 5,483 - - 458 5,483 Consumer: - - - 4,110 - 4,110 4,623 13,459 - 1,958 4,623 15,417 1,177 39,801 - - 1,177 39,801 263 12,183 - 8 263 12,191 Total $ 170,484 $ 231,525 $ 6,620 $ 30,812 $ 177,104 $ 262,337 December 31, 2021 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 $ - $ 272 $ - $ - $ - $ 272 Commercial real estate non-owner occupied 15,819 4,897 - 622 15,819 5,519 Commercial real estate owner occupied 13,491 40,844 - 1,013 13,491 41,857 Commercial and industrial 30,177 14,547 - 3,897 30,177 18,444 Construction - 485 - - - 485 Mortgage 169,827 164,060 29 21,940 169,856 186,000 Leasing 276 2,826 - - 276 2,826 Consumer: - - - 5,406 - 5,406 6,279 14,956 81 600 6,360 15,556 879 22,206 - - 879 22,206 - 12,448 - - - 12,448 Total $ 236,748 $ 277,541 $ 110 $ 33,478 $ 236,858 $ 311,019 Loans in non-accrual status with no 177 31, 237 4 December 31, 2022 (December 31, 2021 - $ 3 The Corporation has the collateral less sale or appraisals, which may be conditions to reflect the expected change in value between the effective date are updated every one to two years depending on The following tables present the amortized cost basis fair value of the collateral less cost to sell, by class December 31, 2022 (In thousands) Real Estate Auto Equipment Accounts Receivables Other Total BPPR Commercial multi-family $ 1,329 $ - $ - $ - $ - $ 1,329 Commercial real estate: Non-owner occupied 202,980 - - - - 202,980 Owner occupied 18,234 - - - - 18,234 Commercial and industrial 1,345 - 32 9,853 20,985 32,215 Mortgage 128,069 - - - - 128,069 Leasing - 1,020 - - - 1,020 Consumer: Personal 5,381 - - - - 5,381 Auto - 9,556 - - - 9,556 Other - - - - 263 263 Total BPPR $ 357,338 $ 10,576 $ 32 $ 9,853 $ 21,248 $ 399,047 Popular U.S. Commercial real estate: Non-owner occupied $ 1,454 $ - $ - $ - $ - $ 1,454 Owner occupied 5,095 - - - - 5,095 Commercial and industrial - - 136 - - 136 Mortgage 1,104 - - - - 1,104 Total Popular U.S. $ 7,653 $ - $ 136 $ - $ - $ 7,789 Popular, Inc. Commercial multi-family $ 1,329 $ - $ - $ - $ - $ 1,329 Commercial real estate: Non-owner occupied 204,434 - - - - 204,434 Owner occupied 23,329 - - - - 23,329 Commercial and industrial 1,345 - 168 9,853 20,985 32,351 Mortgage 129,173 - - - - 129,173 Leasing - 1,020 - - - 1,020 Consumer: Personal 5,381 - - - - 5,381 Auto - 9,556 - - - 9,556 Other - - - - 263 263 Total Popular, $ 364,991 $ 10,576 $ 168 $ 9,853 $ 21,248 $ 406,836 December 31, 2021 (In thousands) Real Estate Auto Equipment Accounts Receivables Other Total BPPR Commercial multi-family $ 1,374 $ - $ - $ - $ - $ 1,374 Commercial real estate: Non-owner occupied 211,026 - - - - 211,026 Owner occupied 47,268 - - - - 47,268 Commercial and industrial 2,650 - 680 10,675 27,893 41,898 Mortgage 179,774 - - - - 179,774 Leasing - 574 - - - 574 Consumer: Personal 6,165 - - - - 6,165 Auto - 8,983 - - - 8,983 Total BPPR $ 448,257 $ 9,557 $ 680 $ 10,675 $ 27,893 $ 497,062 Popular U.S. Mortgage $ 926 $ - $ - $ - $ - $ 926 Total Popular U.S. $ 926 $ - $ - $ - $ - $ 926 Popular, Inc. Commercial multi-family $ 1,374 $ - $ - $ - $ - $ 1,374 Commercial real estate: Non-owner occupied 211,026 - - - - 211,026 Owner occupied 47,268 - - - - 47,268 Commercial and industrial 2,650 - 680 10,675 27,893 41,898 Mortgage 180,700 - - - - 180,700 Leasing - 574 - - - 574 Consumer: Personal 6,165 - - - - 6,165 Auto - 8,983 - - - 8,983 Total Popular, $ 449,183 $ 9,557 $ 680 $ 10,675 $ 27,893 $ 497,988 Purchased Credit Deteriorated (PCD) Loans The Corporation has purchased loans during deterioration of credit quality since origination. The (In thousands) December 31, 2022 December 31, 2021 Purchase price of loans at acquisition $ 3,144 $ 10,995 Allowance for credit losses at acquisition 915 3,142 Non-credit discount / (premium) at acquisition 140 446 Par value of acquired loans at acquisition $ 4,199 $ 14,583 |
Allowance for credit losses - l
Allowance for credit losses - loans held-in-portfolio | 12 Months Ended |
Dec. 31, 2022 | |
Allowance for credit losses [Abstract] | |
Allowance for credit losses | Note 9 – Allowance for credit losses – loans The Corporation follows the current for credit losses that reflects the expected credit losses over the lives of financial addition, CECL provides that the initial ACL on purchased credit deteriorated (“PCD”) financial assets be recorded as an increase to the purchase recorded in current operations is based on this methodology. Loan losses are At scenarios. Among pessimistic evaluation on the reversion reversion 1 3 movements for 11 million in the ACL. The reasonable and supportable The baseline scenario assumes a 2023 annualized annualized expected growth the expected slowdown in the economy as a The 2023 average unemployment rate is forecasted at 7.8% and 4.0% for Puerto Rico and United States, respectively, compared to 2022 average level 6.4% for Puerto Rico and 3.7% for the United States. In 2023, weaker job growth due to the expected slowdown in the economy will contribute to an increase The December 31, 2022 and 2021. For the year ended December 31, 2022 BPPR (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 151,928 $ 1,641 $ 138,286 $ 17,578 $ 284,729 $ 594,162 Provision for credit losses (benefit) 11,475 526 (37,600) 6,832 88,311 69,544 Initial allowance for credit losses - PCD Loans - - 915 - - 915 Charge-offs (7,238) - (5,105) (7,107) (106,752) (126,202) Recoveries 18,130 811 20,848 3,315 34,022 77,126 Ending balance - loans $ 174,295 $ 2,978 $ 117,344 $ 20,618 $ 300,310 $ 615,545 Allowance for credit losses - unfunded commitments: Beginning balance $ 1,751 $ 2,388 $ - $ - $ - $ 4,139 Provision for credit losses (benefit) 2,585 (366) - - - 2,219 Ending balance - unfunded commitments [1] $ 4,336 $ 2,022 $ - $ - $ - $ 6,358 [1] Allowance for credit losses of unfunded commitments is For the year ended December 31, 2022 Popular U.S. (In thousands) Commercial Construction Mortgage Consumer Total Allowance for credit losses - loans: Beginning balance $ 63,877 $ 4,722 $ 16,192 $ 16,413 $ 101,204 Provision for credit losses (benefit) 4,597 (4,586) 1,706 12,046 13,763 Charge-offs (10,012) - (68) (8,036) (18,116) Recoveries 2,619 1,132 80 4,075 7,906 Ending balance - loans $ 61,081 $ 1,268 $ 17,910 $ 24,498 $ 104,757 Allowance for credit losses - unfunded commitments: Beginning balance $ 1,384 $ 2,337 $ - $ 37 $ 3,758 Provision for credit losses (benefit) (209) (1,153) - 51 (1,311) Ending balance - unfunded commitments [1] $ 1,175 $ 1,184 $ - $ 88 $ 2,447 [1] Allowance for credit losses of unfunded commitments is For the year ended December 31, 2022 Popular, Inc. (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 215,805 $ 6,363 $ 154,478 $ 17,578 $ 301,142 $ 695,366 Provision for credit losses (benefit) 16,072 (4,060) (35,894) 6,832 100,357 83,307 Initial allowance for credit losses - PCD Loans - - 915 - - 915 Charge-offs (17,250) - (5,173) (7,107) (114,788) (144,318) Recoveries 20,749 1,943 20,928 3,315 38,097 85,032 Ending balance - loans $ 235,376 $ 4,246 $ 135,254 $ 20,618 $ 324,808 $ 720,302 Allowance for credit losses - unfunded commitments: Beginning balance $ 3,135 $ 4,725 $ - $ - $ 37 $ 7,897 Provision for credit losses (benefit) 2,376 (1,519) - - 51 908 Ending balance - unfunded commitments [1] $ 5,511 $ 3,206 $ - $ - $ 88 $ 8,805 [1] Allowance for credit losses of unfunded commitments is For the year ended December 31, 2021 BPPR (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 225,323 $ 4,871 $ 195,557 $ 16,863 $ 297,136 $ 739,750 Provision for credit losses (benefit) (91,695) (1,533) (57,684) 2,094 19,800 (129,018) Initial allowance for credit losses - PCD Loans - - 3,142 - - 3,142 Charge-offs (17,180) (6,620) (17,656) (4,637) (78,047) (124,140) Recoveries 35,480 4,923 14,927 3,258 45,840 104,428 Ending balance - loans $ 151,928 $ 1,641 $ 138,286 $ 17,578 $ 284,729 $ 594,162 Allowance for credit losses - unfunded commitments: Beginning balance $ 4,913 $ 4,610 $ - $ - $ - $ 9,523 Provision for credit losses (benefit) (3,162) (2,222) - - - (5,384) Ending balance - unfunded commitments [1] $ 1,751 $ 2,388 $ - $ - $ - $ 4,139 [1] Allowance for credit losses of unfunded commitments is For the year ended December 31, 2021 Popular U.S. (In thousands) Commercial Construction Mortgage Consumer Total Allowance for credit losses - loans: Beginning balance $ 108,057 $ 9,366 $ 20,159 $ 18,918 $ 156,500 Provision for credit losses (benefit) (45,427) (4,764) (3,949) (187) (54,327) Charge-offs (1,177) (523) (605) (8,732) (11,037) Recoveries 2,424 643 587 6,414 10,068 Ending balance - loans $ 63,877 $ 4,722 $ 16,192 $ 16,413 $ 101,204 Allowance for credit losses - unfunded commitments: Beginning balance $ 1,753 $ 4,469 $ - $ 106 $ 6,328 Provision for credit losses (benefit) (369) (2,132) - (69) (2,570) Ending balance - unfunded commitments [1] $ 1,384 $ 2,337 $ - $ 37 $ 3,758 [1] Allowance for credit losses of unfunded commitments is For the year ended December 31, 2021 Popular, Inc. (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 333,380 $ 14,237 $ 215,716 $ 16,863 $ 316,054 $ 896,250 Provision for credit losses (benefit) (137,122) (6,297) (61,633) 2,094 19,613 (183,345) Initial allowance for credit losses - PCD Loans - - 3,142 - - 3,142 Charge-offs (18,357) (7,143) (18,261) (4,637) (86,779) (135,177) Recoveries 37,904 5,566 15,514 3,258 52,254 114,496 Ending balance - loans $ 215,805 $ 6,363 $ 154,478 $ 17,578 $ 301,142 $ 695,366 Allowance for credit losses - unfunded commitments: Beginning balance $ 6,666 $ 9,079 $ - $ - $ 106 $ 15,851 Provision for credit losses (benefit) (3,531) (4,354) - - (69) (7,954) Ending balance - unfunded commitments [1] $ 3,135 $ 4,725 $ - $ - $ 37 $ 7,897 [1] Allowance for credit losses of unfunded commitments is Modifications A modification constitutes a concession. For a summary of the accounting policy related to troubled debt restructurings (“TDRs”), refer to the Summary of Significant Accounting Policies The outstanding 1.6 1.7 billion). modified in TDRs amounted to 12 9 million). The following table presents allowance at December 31, 2022 and 2021. The Corporation has offered to clients impacted by the hurricanes Fiona and commercial credit cards, auto loans, leases, and personal loans, benefited from clients were reviewed on a cost were granted a moratorium of which 218 December 31, 2022 (In thousands) Accruing Non- Accruing Total Related Allowance Accruing Non- Accruing Total Related Allowance Loans held-in-portfolio: $ 269,784 $ 54,641 $ 324,425 $ 18,451 $ 261,344 $ 64,744 $ 326,088 $ 24,736 [1] 1,169,976 86,790 1,256,766 58,819 1,143,204 112,509 1,255,713 61,888 1,154 24 1,178 43 325 47 372 42 54,395 7,883 62,278 13,577 64,093 10,556 74,649 16,124 Loans held-in-portfolio $ 1,495,309 $ 149,338 $ 1,644,647 $ 90,890 $ 1,468,966 $ 187,856 $ 1,656,822 $ 102,790 [1] At December 31, 2022, accruing mortgage loan TDRs include 725 716 million at December 31, 2021. The December 31, 2022 and 2021. Loans modified For the year ended December 31, 2022 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial real estate non-owner occupied - 2 2 4 Commercial real estate owner occupied 3 10 1 14 Commercial and industrial 4 9 1 16 Mortgage 7 217 881 5 Leasing - 2 1 34 Consumer: 48 - - 48 - - 1 - 111 111 3 40 - 1 - 129 1 - - - Total 174 352 890 290 For the year ended December 31, 2021 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial multi-family - 1 1 - Commercial real estate non-owner occupied - 11 1 - Commercial real estate owner occupied 4 23 4 12 Commercial and industrial 5 13 - 21 Mortgage 39 140 1,590 5 Leasing - - 2 - Consumer: 134 - 1 43 - 1 1 - 183 117 1 2 - 7 3 - 7 - - 1 Total 372 313 1,604 84 During the year ended December 31, 2022, three 2.7 into multiple notes (“Note A / B split”) , five 10.2 year ended December 31, No restructured after analyzing the borrowers’ capacity The following tables present, 31, 2022 and 2021. Popular, Inc. For the year ended December 31, 2022 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for credit losses as a result of modification Commercial real estate non-owner occupied 8 $ 6,530 $ 6,527 $ 60 Commercial real estate owner occupied 28 19,192 19,165 (2,078) Commercial and industrial 30 51,139 50,929 2,120 Mortgage 1,110 128,581 125,875 4,447 Leasing 37 1,181 1,180 13 Consumer: 96 866 898 10 1 245 236 67 265 3,581 3,479 671 130 1,631 1,631 5 1 8 8 1 Total 1,706 $ 212,954 $ 209,928 $ 5,316 Popular, Inc. For the year ended December 31, 2021 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for credit losses as a result of modification Commercial multi-family 2 $ 246 $ 211 $ 26 Commercial real estate non-owner occupied 12 3,612 3,604 177 Commercial real estate owner occupied 43 95,354 90,096 1,577 Commercial and industrial 39 6,573 5,719 745 Mortgage 1,774 213,661 214,367 6,632 Leasing 2 40 38 5 Consumer: 178 2,223 2,136 42 2 176 228 54 303 4,222 4,217 899 10 199 206 65 8 305 303 124 Total 2,373 $ 326,611 $ 321,125 $ 10,346 The following tables present, twelve months preceding the default date. modified, paydowns foreclosed upon by period end are not reported.. Defaulted during the year ended December 31, 2022 (Dollars in thousands) Loan count Recorded investment as of first default date Commercial real estate owner occupied 2 $ 620 Commercial and industrial 7 6,639 Mortgage 75 9,391 Leasing 1 5 Consumer: 29 249 49 918 Total 163 $ 17,822 Defaulted during the year ended December 31, 2021 (Dollars in thousands) Loan count Recorded investment as of first default date Commercial real estate non-owner occupied 4 $ 8,421 Commercial real estate owner occupied 4 4,500 Commercial and industrial 5 317 Mortgage 104 10,543 Consumer: 81 979 27 723 Total 225 $ 25,483 Commercial, possible future default. charge-offs may be taken to further write-down the carrying Credit Quality The construction loan loan portfolio. The risk rating system provides for the borrower. The risk rating analysis process is performed at least may delinquency status at the end of the reporting period. The Corporation’s obligor risk rating scales range from rating 1 (Excellent) to rating 14 (Loss). The obligor risk rating reflects the risk of payment default of a borrower in the ordinary Pass Credit Classifications: Pass (Scales 1 through 8) risk, strong financial position, minimal operating risk, profitability, liquidity and strong Watch financial condition evidence more than average risk, requires above Officers. Special Mention (Scale 10) - close attention. the loan or of the Corporation’s credit position at Adversely Classified Classifications: Substandard current net worth well-defined weaknesses that jeopardize the liquidation of the institution will sustain some loss if the deficiencies Doubtful (Scale with the existing facts, conditions, and values, highly questionable Loss classification does desirable to defer writing off this asset even though partial Risk information about the ability of borrowers to credit documentation, public information, and The following tables present the amortized cost basis, net of unearned income, of assignment of obligor risk ratings as defined at December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total BPPR Commercial: Commercial multi-family Watch $ - $ - $ - $ 18,508 $ - $ 4,687 $ - $ - $ 23,195 Special mention - - - - - 2,692 - - 2,692 Substandard - - - - - 3,326 100 - 3,426 Pass 137,411 22,850 20,821 16,145 24,640 30,193 - - 252,060 Total commercial multi-family $ 137,411 $ 22,850 $ 20,821 $ 34,653 $ 24,640 $ 40,898 $ 100 $ - $ 281,373 Commercial real estate non-owner occupied Watch $ 173 $ 36,228 $ 14,045 $ 14,942 $ 7,777 $ 99,269 $ - $ - $ 172,434 Special Mention - 4,361 19,970 7,517 - 25,540 - - 57,388 Substandard 8,933 - 3,209 19,004 25,490 21,064 - - 77,700 Pass 855,839 585,690 294,086 94,056 35,105 568,893 16,136 - 2,449,805 Total commercial real estate non- owner occupied $ 864,945 $ 626,279 $ 331,310 $ 135,519 $ 68,372 $ 714,766 $ 16,136 $ - $ 2,757,327 Commercial real estate owner occupied Watch $ 2,296 $ 5,271 $ 9,447 $ 4,275 $ 31,649 $ 71,568 $ - $ - $ 124,506 Special Mention 10 284 1,684 6,578 1,076 61,460 - - 71,092 Substandard 16,205 6,177 802 800 770 84,205 - - 108,959 Doubtful - - - - - 505 - - 505 Pass 227,404 258,473 274,333 30,691 68,029 407,322 16,742 - 1,282,994 Total commercial real estate owner occupied $ 245,915 $ 270,205 $ 286,266 $ 42,344 $ 101,524 $ 625,060 $ 16,742 $ - $ 1,588,056 Commercial and industrial Watch $ 32,376 $ 2,185 $ 15,493 $ 18,829 $ 15,483 $ 51,602 $ 56,508 $ - $ 192,476 Special Mention 2,537 2,479 5,770 1,139 6,767 46,040 6,283 - 71,015 Substandard 789 1,276 1,600 3,138 11,536 40,636 46,226 - 105,201 Doubtful - - 29 - 75 75 - - 179 Loss - - - - - - 144 - 144 Pass 793,662 684,647 211,013 177,265 65,197 292,173 1,203,536 - 3,427,493 Total commercial and industrial $ 829,364 $ 690,587 $ 233,905 $ 200,371 $ 99,058 $ 430,526 $ 1,312,697 $ - $ 3,796,508 Construction Watch $ 35,446 $ 3,116 $ 98 $ - $ - $ - $ 141 $ - $ 38,801 Substandard - - 9,629 - - - $ - - 9,629 Pass 13,044 34,387 15,961 2,262 - - 32,957 - 98,611 Total construction $ 48,490 $ 37,503 $ 25,688 $ 2,262 $ - $ - $ 33,098 $ - $ 147,041 Mortgage Substandard $ - $ 574 $ 687 $ 3,926 $ 4,227 $ 93,959 $ - $ - $ 103,373 Pass 449,286 451,027 285,026 204,170 237,007 4,380,390 - - 6,006,906 Total mortgage $ 449,286 $ 451,601 $ 285,713 $ 208,096 $ 241,234 $ 4,474,349 $ - $ - $ 6,110,279 Leasing Substandard $ 953 $ 1,491 $ 941 $ 1,172 $ 1,127 $ 215 $ - $ - $ 5,899 Loss - - - 21 - 21 - - 42 Pass 672,294 428,889 237,939 146,231 79,451 14,994 - - 1,579,798 Total leasing $ 673,247 $ 430,380 $ 238,880 $ 147,424 $ 80,578 $ 15,230 $ - $ - $ 1,585,739 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total BPPR Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 11,907 $ - $ 11,907 Loss - - - - - - 3 - 3 Pass - - - - - - 1,029,921 - 1,029,921 Total credit cards $ - $ - $ - $ - $ - $ - $ 1,041,831 $ - $ 1,041,831 HELOCs Pass $ - $ - $ - $ - $ - $ - $ 2,954 $ - $ 2,954 Total HELOCs $ - $ - $ - $ - $ - $ - $ 2,954 $ - $ 2,954 Personal Substandard $ 1,330 $ 2,001 $ 764 $ 1,774 $ 503 $ 10,831 $ - $ 1,285 $ 18,488 Loss - - 53 20 31 10 - 1 115 Pass 841,564 320,809 103,337 117,568 46,555 109,543 - 27,708 1,567,084 Total Personal $ 842,894 $ 322,810 $ 104,154 $ 119,362 $ 47,089 $ 120,384 $ - $ 28,994 $ 1,585,687 Auto Substandard $ 6,764 $ 11,171 $ 10,466 $ 10,243 $ 4,597 $ 2,382 $ - $ - $ 45,623 Loss 23 41 48 25 7 14 - - 158 Pass 1,156,654 961,571 588,200 426,169 248,328 85,827 - - 3,466,749 Total Auto $ 1,163,441 $ 972,783 $ 598,714 $ 436,437 $ 252,932 $ 88,223 $ - $ - $ 3,512,530 Other consumer Substandard $ - $ - $ 100 $ 593 $ 543 $ 242 $ 10,902 $ - $ 12,380 Loss - - - - 263 40 - - 303 Pass 29,557 17,439 6,967 4,201 4,553 1,942 60,238 - 124,897 Total Other consumer $ 29,557 $ 17,439 $ 7,067 $ 4,794 $ 5,359 $ 2,224 $ 71,140 $ - $ 137,580 Total Puerto Rico $ 5,284,550 $ 3,842,437 $ 2,132,518 $ 1,331,262 $ 920,786 $ 6,511,660 $ 2,494,698 $ 28,994 $ 22,546,905 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular U.S. Commercial: Commercial multi-family Watch $ 750 $ 917 $ 6,218 $ 85,579 $ 9,633 $ 52,835 $ - $ - $ 155,932 Special mention - - 1,198 - 14,491 8,372 - - 24,061 Substandard - - - 9,305 7,373 2,941 - - 19,619 Pass 503,010 399,397 238,903 210,295 138,723 347,615 2,785 - 1,840,728 Total commercial multi-family $ 503,760 $ 400,314 $ 246,319 $ 305,179 $ 170,220 $ 411,763 $ 2,785 $ - $ 2,040,340 Commercial real estate non-owner occupied Watch $ - $ 2,167 $ 13,622 $ 3,355 $ 26,931 $ 29,849 $ - $ - $ 75,924 Special Mention - - - 1,353 - 75,269 - - 76,622 Substandard - 2,864 2,149 3,220 1,429 4,722 - - 14,384 Pass 552,258 209,338 211,449 109,781 100,065 383,409 9,113 - 1,575,413 Total commercial real estate non- owner occupied $ 552,258 $ 214,369 $ 227,220 $ 117,709 $ 128,425 $ 493,249 $ 9,113 $ - $ 1,742,343 Commercial real estate owner occupied Watch $ - $ - $ 1,197 $ 1,079 $ 6,095 $ 55,005 $ - $ - $ 63,376 Special Mention - - 3,886 - - 901 - - 4,787 Substandard - - - 7,403 11,165 33,586 - - 52,154 Pass 363,655 422,959 114,988 82,971 119,565 258,881 7,157 - 1,370,176 Total commercial real estate owner occupied $ 363,655 $ 422,959 $ 120,071 $ 91,453 $ 136,825 $ 348,373 $ 7,157 $ - $ 1,490,493 Commercial and industrial Watch $ 12,328 $ 2,218 $ 2,022 $ 2,049 $ 8,438 $ 532 $ 4,291 $ - $ 31,878 Special Mention 1,262 1,130 314 244 60 - 3 - 3,013 Substandard 260 935 74 4,278 315 1,829 1,408 - 9,099 Loss 292 525 1 75 192 3 - - 1,088 Pass 185,318 341,855 368,398 202,301 171,528 376,045 352,169 - 1,997,614 Total commercial and industrial $ 199,460 $ 346,663 $ 370,809 $ 208,947 $ 180,533 $ 378,409 $ 357,871 $ - $ 2,042,692 Construction Watch $ - $ 12,085 $ - $ 6,979 $ 18,310 $ 34,126 $ - $ - $ 71,500 Special Mention - 3 - - - - - - 3 Substandard - - 1,423 - 6,540 2,095 - - 10,058 Pass 164,272 146,062 91,486 93,118 10,863 23,581 - - 529,382 Total construction $ 164,272 $ 158,150 $ 92,909 $ 100,097 $ 35,713 $ 59,802 $ - $ - $ 610,943 Mortgage Substandard $ - $ 2,009 $ 3,478 $ 4,048 $ 1,156 $ 9,798 $ - $ - $ 20,489 Pass 236,595 303,204 243,468 183,846 58,026 241,564 - - 1,266,703 Total mortgage $ 236,595 $ 305,213 $ 246,946 $ 187,894 $ 59,182 $ 251,362 $ - $ - $ 1,287,192 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular U.S. Consumer: Credit cards Pass $ - $ - $ - $ - $ - $ - $ 39 $ - $ 39 Total credit cards $ - $ - $ - $ - $ - $ - $ 39 $ - $ 39 HELOCs Substandard $ - $ - $ - $ - $ - $ 2,146 $ 20 $ 1,402 $ 3,568 Loss - - - - - 4 - 538 542 Pass - - - - - 9,169 41,724 13,959 64,852 Total HELOCs $ - $ - $ - $ - $ - $ 11,319 $ 41,744 $ 15,899 $ 68,962 Personal Substandard $ 621 $ 454 $ 149 $ 238 $ 70 $ 6 $ - $ - $ 1,538 Loss - - - - - 421 - - 421 Pass 165,153 46,320 7,339 13,443 2,021 1,657 - - 235,933 Total Personal $ 165,774 $ 46,774 $ 7,488 $ 13,681 $ 2,091 $ 2,084 $ - $ - $ 237,892 Other consumer Substandard $ - $ - $ - $ - $ - $ - $ 8 $ - $ 8 Pass - - - - - - 9,960 - 9,960 Total Other consumer $ - $ - $ - $ - $ - $ - $ 9,968 $ - $ 9,968 Total Popular U.S. $ 2,185,774 $ 1,894,442 $ 1,311,762 $ 1,024,960 $ 712,989 $ 1,956,361 $ 428,677 $ 15,899 $ 9,530,864 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular, Inc. Commercial: Commercial multi-family Watch $ 750 $ 917 $ 6,218 $ 104,087 $ 9,633 $ 57,522 $ - $ - $ 179,127 Special mention - - 1,198 - 14,491 11,064 - - 26,753 Substandard - - - 9,305 7,373 6,267 100 - 23,045 Pass 640,421 422,247 259,724 226,440 163,363 377,808 2,785 - 2,092,788 Total commercial multi-family $ 641,171 $ 423,164 $ 267,140 $ 339,832 $ 194,860 $ 452,661 $ 2,885 $ - $ 2,321,713 Commercial real estate non-owner occupied Watch $ 173 $ 38,395 $ 27,667 $ 18,297 $ 34,708 $ 129,118 $ - $ - $ 248,358 Special Mention - 4,361 19,970 8,870 - 100,809 - - 134,010 Substandard 8,933 2,864 5,358 22,224 26,919 25,786 - - 92,084 Pass 1,408,097 795,028 505,535 203,837 135,170 952,302 25,249 - 4,025,218 Total commercial real estate non- owner occupied $ 1,417,203 $ 840,648 $ 558,530 $ 253,228 $ 196,797 $ 1,208,015 $ 25,249 $ - $ 4,499,670 Commercial real estate owner occupied Watch $ 2,296 $ 5,271 $ 10,644 $ 5,354 $ 37,744 $ 126,573 $ - $ - $ 187,882 Special Mention 10 284 5,570 6,578 1,076 62,361 - - 75,879 Substandard 16,205 6,177 802 8,203 11,935 117,791 - - 161,113 Doubtful - - - - - 505 - - 505 Pass 591,059 681,432 389,321 113,662 187,594 666,203 23,899 - 2,653,170 Total commercial real estate owner occupied $ 609,570 $ 693,164 $ 406,337 $ 133,797 $ 238,349 $ 973,433 $ 23,899 $ - $ 3,078,549 Commercial and industrial Watch $ 44,704 $ 4,403 $ 17,515 $ 20,878 $ 23,921 $ 52,134 $ 60,799 $ - $ 224,354 Special Mention 3,799 3,609 6,084 1,383 6,827 46,040 6,286 - 74,028 Substandard 1,049 2,211 1,674 7,416 11,851 42,465 47,634 - 114,300 Doubtful - - 29 - 75 75 - - 179 Loss 292 525 1 75 192 3 144 - 1,232 Pass 978,980 1,026,502 579,411 379,566 236,725 668,218 1,555,705 - 5,425,107 Total commercial and industrial $ 1,028,824 $ 1,037,250 $ 604,714 $ 409,318 $ 279,591 $ 808,935 $ 1,670,568 $ - $ 5,839,200 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular, Inc. Construction Watch $ 35,446 $ 15,201 $ 98 $ 6,979 $ 18,310 $ 34,126 $ 141 $ - $ 110,301 Special Mention - 3 - - - - - - 3 Substandard - - 11,052 - 6,540 2,095 - - 19,687 Pass 177,316 180,449 107,447 95,380 10,863 23,581 32,957 - 627,993 Total construction $ 212,762 $ 195,653 $ 118,597 $ 102,359 $ 35,713 $ 59,802 $ 33,098 $ - $ 757,984 Mortgage Substandard $ - $ 2,583 $ 4,165 $ 7,974 $ 5,383 $ 103,757 $ - $ - $ 123,862 Pass 685,881 754,231 528,494 388,016 295,033 4,621,954 - - 7,273,609 Total mortgage $ 685,881 $ 756,814 $ 532,659 $ 395,990 $ 300,416 $ 4,725,711 $ - $ - $ 7,397,471 Leasing Substandard $ 953 $ 1,491 $ 941 $ 1,172 $ 1,127 $ 215 $ - $ - $ 5,899 Loss - - - 21 - 21 - - 42 Pass 672,294 428,889 237,939 146,231 79,451 14,994 - - 1,579,798 Total leasing $ 673,247 $ 430,380 $ 238,880 $ 147,424 $ 80,578 $ 15,230 $ - $ - $ 1,585,739 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular, Inc. Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 11,907 $ - $ 11,907 Loss - - - - - - 3 - 3 Pass - - - - - - 1,029,960 - 1,029,960 Total credit cards $ - $ - $ - $ - $ - $ - $ 1,041,870 $ - $ 1,041,870 HELOCs Substandard $ - $ - $ - $ - $ - $ 2,146 $ 20 $ 1,402 $ 3,568 Loss - - - - - 4 - 538 542 Pass - - - - - 9,169 44,678 13,959 67,806 Total HELOCs $ - $ - $ - $ - $ - $ 11,319 $ 44,698 $ 15,899 $ 71,916 Personal Substandard $ 1,951 $ 2,455 $ 913 $ 2,012 $ 573 $ 10,837 $ - $ 1,285 $ 20,026 Loss - - 53 20 31 431 - 1 536 Pass 1,006,717 367,129 110,676 131,011 48,576 111,200 - 27,708 1,803,017 Total Personal $ 1,008,668 $ 369,584 $ 111,642 $ 133,043 $ 49,180 $ 122,468 $ - $ 28,994 $ 1,823,579 Auto Substandard $ 6,764 $ 11,171 $ 10,466 $ 10,243 $ 4,597 $ 2,382 $ - $ - $ 45,623 Loss 23 41 48 25 7 14 - - 158 Pass 1,156,654 961,571 588,200 426,169 248,328 85,827 - - 3,466,749 Total Auto $ 1,163,441 $ 972,783 $ 598,714 $ 436,437 $ 252,932 $ 88,223 $ - $ - $ 3,512,530 Other consumer Substandard $ - $ - $ 100 $ 593 $ 543 $ 242 $ 10,910 $ - $ 12,388 Loss - - - - 263 40 - - 303 Pass 29,557 17,439 6,967 4,201 4,553 1,942 70,198 - 134,857 Total Other consumer $ 29,557 $ 17,439 $ 7,067 $ 4,794 $ 5,359 $ 2,224 $ 81,108 $ - $ 147,548 Total Popular Inc. $ 7,470,324 $ 5,736,879 $ 3,444,280 $ 2,356,222 $ 1,633,775 $ 8,468,021 $ 2,923,375 $ 44,893 $ 32,077,769 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total BPPR Commercial: Commercial multi-family Watch $ - $ - $ - $ - $ - $ 4,485 $ - $ - $ 4,485 Special mention - - - - - 3,025 - - 3,025 Substandard - - 982 - - 6,257 100 - 7,339 Pass 24,936 21,288 34,840 25,311 2,066 31,468 11 - 139,920 Total commercial multi-family $ 24,936 $ 21,288 $ 35,822 $ 25,311 $ 2,066 $ 45,235 $ 111 $ - $ 154,769 Commercial real estate non-owner occupied Watch $ 100,465 $ 228,852 $ 25,443 $ 137,044 $ 2,406 $ 205,304 $ 3,237 $ - $ 702,751 Special Mention 18,509 12,563 7,271 - 4,608 24,056 - - 67,007 Substandard 30,155 27,790 24,200 25,456 2,770 72,407 - - 182,778 Pass 513,087 88,662 88,353 37,999 42,522 557,052 9,712 - 1,337,387 Total commercial real estate non- owner occupied $ 662,216 $ 357,867 $ 145,267 $ 200,499 $ 52,306 $ 858,819 $ 12,949 $ - $ 2,289,923 Commercial real estate owner occupied Watch $ 8,393 $ 8,612 $ 8,972 $ 6,958 $ 3,039 $ 121,716 $ - $ - $ 157,690 Special Mention 5,573 857 7,598 1,427 2,449 103,472 - - 121,376 Substandard 6,960 1,028 1,646 35,529 1,869 113,288 - - 160,320 Doubtful - - - - 76 612 - - 688 Pass 238,533 198,442 44,943 23,112 32,585 429,651 16,389 - 983,655 Total commercial real estate owner occupied $ 259,459 $ 208,939 $ 63,159 $ 67,026 $ 40,018 $ 768,739 $ 16,389 $ - $ 1,423,729 Commercial and industrial Watch $ 186,529 $ 12,542 $ 21,536 $ 103,835 $ 14,577 $ 90,776 $ 108,183 $ - $ 537,978 Special Mention 7,380 9,936 14,856 28,473 1,012 28,448 60,397 - 150,502 Substandard 2,190 1,091 3,041 35,826 66,771 45,168 38,003 - 192,090 Doubtful - - - - - 62 - - 62 Pass 843,661 335,369 275,357 84,084 72,580 333,869 702,896 - 2,647,816 Total commercial and industrial $ 1,039,760 $ 358,938 $ 314,790 $ 252,218 $ 154,940 $ 498,323 $ 909,479 $ - $ 3,528,448 Construction Substandard $ - $ - $ 485 $ - $ - $ - $ - $ - $ 485 Pass 21,596 41,622 1,148 - - - 22,260 - 86,626 Total construction $ 21,596 $ 41,622 $ 1,633 $ - $ - $ - $ 22,260 $ - $ 87,111 Mortgage Substandard $ - $ 954 $ 5,212 $ 5,613 $ 4,310 $ 122,690 $ - $ - $ 138,779 Pass 463,742 304,780 223,464 265,239 194,982 4,660,880 - - 6,113,087 Total mortgage $ 463,742 $ 305,734 $ 228,676 $ 270,852 $ 199,292 $ 4,783,570 $ - $ - $ 6,251,866 Leasing Substandard $ 124 $ 618 $ 880 $ 613 $ 613 $ 235 $ - $ - $ 3,083 Loss - - - 1 16 2 - - 19 Pass 613,452 328,085 222,770 133,112 62,881 17,917 - - 1,378,217 Total leasing $ 613,576 $ 328,703 $ 223,650 $ 133,726 $ 63,510 $ 18,154 $ - $ - $ 1,381,319 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total BPPR Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 8,577 $ - $ 8,577 Pass - - - - - - 911,274 - 911,274 Total credit cards $ - $ - $ - $ - $ - $ - $ 919,851 $ - $ 919,851 HELOCs Substandard $ - $ - $ - $ - $ - $ - $ 23 $ - $ 23 Pass - - - - - - 3,548 - 3,548 Total HELOCs $ - $ - $ - $ - $ - $ - $ 3,571 $ - $ 3,571 Personal Substandard $ 426 $ 610 $ 2,105 $ 866 $ 936 $ 15,680 $ - $ 1,385 $ 22,008 Loss 30 2 3 - - 3 - - 38 Pass 539,604 197,652 227,328 91,341 53,630 120,065 - 36,394 1,266,014 Total Personal $ 540,060 $ 198,264 $ 229,436 $ 92,207 $ 54,566 $ 135,748 $ - $ 37,779 $ 1,288,060 Auto Substandard $ 3,080 $ 7,520 $ 9,498 $ 4,739 $ 2,210 $ 1,422 $ - $ - $ 28,469 Loss 42 11 - - - - - - 53 Pass 1,259,800 808,339 637,300 420,293 177,104 80,829 - - 3,383,665 Total Auto $ 1,262,922 $ 815,870 $ 646,798 $ 425,032 $ 179,314 $ 82,251 $ - $ - $ 3,412,187 Other consumer Substandard $ - $ 114 $ 21 $ 487 $ - $ 135 $ 11,250 $ - $ 12,007 Loss - - - 579 - 34 - - 613 Pass 24,845 9,781 9,348 5,610 3,914 947 57,483 - 111,928 Total Other consumer $ 24,845 $ 9,895 $ 9,369 $ 6,676 $ 3,914 $ 1,116 $ 68,733 $ - $ 124,548 Total Puerto Rico $ 4,913,112 $ 2,647,120 $ 1,898,600 $ 1,473,547 $ 749,926 $ 7,191,955 $ 1,953,343 $ 37,779 $ 20,865,382 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular U.S. Commercial: Commercial multi-family Watch $ 8,600 $ 41,348 $ 56,229 $ 20,682 $ 37,343 $ 48,753 $ - $ - $ 212,955 Special mention - 3,752 9,013 30,244 11,071 28,297 - - 82,377 Substandard - - 67,149 12,748 - 18,644 - - 98,541 Pass 422,613 241,805 201,298 144,534 46,809 352,724 4,205 - 1,413,988 Total commercial multi-family $ 431,213 $ 286,905 $ 333,689 $ 208,208 $ 95,223 $ 448,418 $ 4,205 $ - $ 1,807,861 Commercial real estate non-owner occupied Watch $ 12,716 $ 22,109 $ 42,067 $ 56,576 $ 28,604 $ 154,289 $ 780 $ - $ 317,141 Special Mention 2,939 - 3,205 7,025 10,573 15,569 - - 39,311 Substandard - 756 6,405 14,544 11,384 60,323 - - 93,412 Pass 543,667 356,071 156,925 211,432 250,516 346,606 8,386 - 1,873,603 Total commercial real estate non- owner occupied $ 559,322 $ 378,936 $ 208,602 $ 289,577 $ 301,077 $ 576,787 $ 9,166 $ - $ 2,323,467 Commercial real estate owner occupied Watch $ - $ 239 $ 7,825 $ 8,150 $ 1,676 $ 17,132 $ 4,222 $ - $ 39,244 Special Mention - - - - - 1,800 - - 1,800 Substandard - - 1,148 2,878 - 20,841 - - 24,867 Pass 129,898 46,737 34,355 23,845 26,236 63,463 3,928 - 328,462 Total commercial real estate owner occupied $ 129,898 $ 46,976 $ 43,328 $ 34,873 $ 27,912 $ 103,236 $ 8,150 $ - $ 394,373 Commercial and industrial Watch $ 3,747 $ 4,667 $ 4,292 $ 9,273 $ 5 $ 1,530 $ 3,925 $ - $ 27,439 Special Mention 2,504 7,203 670 481 59 215 8,177 - 19,309 Substandard 537 97 4,559 495 168 1,890 159 - 7,905 Loss 262 58 108 17 51 191 - - 687 Pass 273,254 339,564 211,695 191,086 115,146 339,336 284,710 - 1,754,791 Total commercial and industrial $ 280,304 $ 351,589 $ 221,324 $ 201,352 $ 115,429 $ 343,162 $ 296,971 $ - $ 1,810,131 Construction Watch $ - $ 14,300 $ 23,547 $ 28,757 $ 34,205 $ - $ - $ - $ 100,809 Special Mention - - - - - 13,622 - - 13,622 Substandard - - - 15,438 10,231 - - - 25,669 Pass 130,587 136,045 165,105 13,634 36,500 7,138 - - 489,009 Total construction $ 130,587 $ 150,345 $ 188,652 $ 57,829 $ 80,936 $ 20,760 $ - $ - $ 629,109 Mortgage Substandard $ - $ 4,338 $ 3,894 $ 967 $ 217 $ 12,680 $ - $ - $ 22,096 Pass 326,641 266,212 215,071 61,986 6,376 276,948 - - 1,153,234 Total mortgage $ 326,641 $ 270,550 $ 218,965 $ 62,953 $ 6,593 $ 289,628 $ - $ - $ 1,175,330 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular U.S. Consumer: Credit cards Pass $ - $ - $ - $ - $ - $ - $ 10 $ - $ 10 Total credit cards $ - $ - $ - $ - $ - $ - $ 10 $ - $ 10 HELOCs Substandard $ - $ - $ - $ - $ - $ 3,006 $ - $ 935 $ 3,941 Loss - - - - - 207 - 1,258 1,465 Pass - - - - - 11,423 38,267 20,195 69,885 Total HELOCs $ - $ - $ - $ - $ - $ 14,636 $ 38,267 $ 22,388 $ 75,291 Personal Substandard $ 72 $ 81 $ 250 $ 73 $ 17 $ 163 $ 2 $ - $ 658 Loss - - 4 - - 19 - - 23 Pass 75,538 19,411 43,346 7,418 2,802 5,625 124 - 154,264 Total Personal $ 75,610 $ 19,492 $ 43,600 $ 7,491 $ 2,819 $ 5,807 $ 126 $ - $ 154,945 Other consumer Pass $ - $ - $ - $ - $ - $ - $ 4,658 $ - $ 4,658 Total Other consumer $ - $ - $ - $ - $ - $ - $ 4,658 $ - $ 4,658 Total Popular U.S. $ 1,933,575 $ 1,504,793 $ 1,258,160 $ 862,283 $ 629,989 $ 1,802,434 $ 361,553 $ 22,388 $ 8,375,175 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular, Inc. Commercial: Commercial multi-family Watch $ 8,600 $ 41,348 $ 56,229 $ 20,682 $ 37,343 $ 53,238 $ - $ - $ 217,440 Special mention - 3,752 9,013 30,244 11,071 31,322 - - 85,402 Substandard - - 68,131 12,748 - 24,901 100 - 105,880 Pass 447,549 263,093 236,138 169,845 48,875 384,192 4,216 - 1,553,908 Total commercial multi-family $ 456,149 $ 308,193 $ 369,511 $ 233,519 $ 97,289 $ 493,653 $ 4,316 $ - $ 1,962,630 Commercial real estate non-owner occupied Watch $ 113,181 $ 250,961 $ 67,510 $ 193,620 $ 31,010 $ 359,593 $ 4,017 $ - $ 1,019,892 Special Mention 21,448 12,563 10,476 7,025 15,181 3 |
Mortgage banking activities
Mortgage banking activities | 12 Months Ended |
Dec. 31, 2022 | |
Mortgage Banking [Abstract] | |
Mortgage Banking Activities | Note 10 – Mortgage banking activities Income mortgage residential mortgage contracts residential mortgage loans held for sale, if any, are recorded as part The following table presents the components of mortgage Years ended December (In thousands) 2022 2021 2020 Mortgage servicing fees, net of fair value adjustments: Mortgage servicing fees $ 36,487 $ 38,105 $ 43,234 Mortgage servicing rights fair value adjustments 236 (10,206) (42,055) Total mortgage 36,723 27,899 1,179 Net (loss) gain on sale of loans, including valuation on (251) 21,684 31,215 Trading account profit (loss): Realized gains (losses) on closed derivative positions 6,635 1,323 (10,586) Total trading account 6,635 1,323 (10,586) Losses on repurchased loans, including interest advances [1] (657) (773) (11,407) Total mortgage $ 42,450 $ 50,133 $ 10,401 [1] The Corporation, from time to time, repurchases delinquent may incur in losses related to previously advanced interest repurchased $ 687.9 10.5 the quarter ended September 30, 2020, the Corporation were previously presented within the indemnity reserves on loans |
Transfers of financial assets a
Transfers of financial assets and mortgage servicing assets | 12 Months Ended |
Dec. 31, 2022 | |
Transfers and Servicing of Financial Assets | |
Transfers Of Financial Assets And Mortgage Servicing Assets | Note 11 – Transfers of financial assets and mortgage servicing assets The securitization transactions has made loans Statements for a description of such arrangements. No did 1.8 18.4 million, respectively, during the years ended December 31, 2022 and 2021 The during the years ended December 31, 2022 and Proceeds Obtained During the Year (In thousands) Level 1 Level 2 Level 3 Initial fair value Assets Trading account debt securities: Mortgage-backed securities - GNMA $ - $ 169,352 $ - $ 169,352 Mortgage-backed securities - FNMA - 122,422 - 122,422 Mortgage-backed securities - FHLMC - 8,505 - 8,505 Total trading account $ - $ 300,279 $ - $ 300,279 Mortgage servicing rights $ - $ - $ 5,318 $ 5,318 Total $ - $ 300,279 $ 5,318 $ 305,597 Proceeds Obtained During the Year (In thousands) Level 1 Level 2 Level 3 Initial fair value Assets Trading account debt securities: Mortgage-backed securities - GNMA $ - $ 380,228 $ - $ 380,228 Mortgage-backed securities - FNMA - 329,617 - 329,617 Mortgage-backed securities - FHLMC - 22,688 - 22,688 Total trading account $ - $ 732,533 $ - $ 732,533 Mortgage servicing rights $ - $ - $ 11,314 $ 11,314 Total $ - $ 732,533 $ 11,314 $ 743,847 During the $ 114 144 1.8 3.2 million). All loan sales performed during the The Corporation recognizes as assets the rights to service loans for others, transfers such as sales and securitizations. These mortgage The incorporates prepayment speeds, discount rate, cost to service, escrow account earnings, contractual servicing fee income, prepayment and late fees, among other considerations. Prepayment speeds are The following table and 2021. Residential MSRs (In thousands) December 31, 2022 December 31, 2021 Fair value at beginning of period $ 121,570 $ 118,395 Additions 6,614 13,391 Changes due to payments on loans (11,063) (15,383) Reduction due to loan repurchases (779) (1,233) Changes in fair value due to changes in valuation model inputs 12,845 6,410 Other (837) (10) Fair value at end of period $ 128,350 $ 121,570 [1] Represents changes due to collection / realization [2] At December 31, 2022, PB had MSRs amounting to $ 2.0 1.6 Residential mortgage loans serviced for others were $ 11.1 12.1 Net mortgage servicing fees, a component of mortgage banking activities in the Consolidated Statements of Operations, include the changes from period to period in the fair value of the MSRs, including changes due to collection / realization of expected cash flows. The banking credited to 0.31 % (2021 – 0.30 %). Under these fees on the underlying loans serviced. The section economic assumptions used years ended December 31, 2022 and 2021 were Years ended December 31, 2022 December 31, 2021 BPPR PB BPPR PB Prepayment speed 5.4 % 8.1 % 6.8 % 19.0 % Weighted average life (in years) 9.5 7.8 8.3 20.9 Discount rate (annual rate) 10.5 % 9.9 % 10.5 % 10.7 % Key performed immediate changes in those assumptions, were as follows Originated MSRs Purchased MSRs December 31, December 31, December 31, December 31, (In thousands) 2022 2021 2022 2021 Fair value of servicing rights $ 41,548 $ 40,058 $ 86,802 $ 81,512 Weighted average life (in years) 6.8 7.1 6.9 7.5 Weighted average prepayment speed (annual 5.9 % 7.7 % 7.0 % 7.6 % Impact on fair value of 10% adverse change $ (730) $ (1,500) $ (1,602) $ (1,486) Impact on fair value of 20% adverse change $ (1,433) $ (2,359) $ (3,143) $ (3,495) Weighted average discount rate (annual rate) 11.2 % 11.2 % 11.0 % 11.0 % Impact on fair value of 10% adverse change $ (1,485) $ (2,079) $ (3,256) $ (2,731) Impact on fair value of 20% adverse change $ (2,876) $ (3,452) $ (6,304) $ (5,832) The sensitivity analyses presented in the table above for servicing rights are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10 and 20 percent variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, in the sensitivity tables included herein, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments and increased credit losses), which might magnify or counteract the sensitivities. At December 31, 2022, the Corporation serviced $ 0.6 0.7 the Corporation, from which $ 15 26 changes in the Corporation’s liability of estimated losses Under the GNMA without delinquency repurchase, the Corporation is deemed to have regained effective control over these loans if the Corporation was the pool issuer. At December 14 Condition related to this 13 forbearance programs but continue to reflect the contractual delinquency until a payment deferral modification that continue to be collateral in a GNMA guaranteed During 58 GNMA servicing portfolio (2021 - $ 94 the transaction, which results in a reduction of the servicing costs for interest advances. The loans under modification programs offered by the Corporation, and once brought back to the secondary market. |
Premises and equipment
Premises and equipment | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment | |
Premises and Equipment | Note 12 - Premises and equipment Premises and equipment are stated at cost less accumulated (In thousands) Useful life in years 2022 2021 Premises and equipment: Land $ 90,625 $ 94,246 Buildings 10 - 50 482,030 468,293 Equipment 2 - 10 388,911 374,192 Leasehold improvements 3 - 10 89,693 87,406 960,634 929,891 586,479 559,234 Subtotal 374,155 370,657 Construction in progress 33,931 29,337 Premises and equipment, net $ 498,711 $ 494,240 Depreciation and 55.1 55.1 58.4 million), of 24.8 25.2 27.2 30.3 (2021 29.8 31.2 Occupancy expense of premises and equipment 13.1 13.4 15.5 For information related to the amortization expense |
Other real estate owned
Other real estate owned | 12 Months Ended |
Dec. 31, 2022 | |
Other Real Estate [Abstract] | |
Other Real Estate Owned | Note 13 – Other real estate owned The following 2021 and 2020. For the year ended December 31, 2022 OREO OREO (In thousands) Commercial/Construction Mortgage Total Balance at beginning of period $ 15,017 $ 70,060 $ 85,077 Write-downs in value (959) (1,517) (2,476) Additions 5,787 70,069 75,856 Sales (7,453) (61,453) (68,906) Other adjustments 108 (533) (425) Ending balance $ 12,500 $ 76,626 $ 89,126 For the year ended December 31, 2021 OREO OREO (In thousands) Commercial/Construction Mortgage Total Balance at beginning of period $ 13,214 $ 69,932 $ 83,146 Write-downs in value (1,058) (2,161) (3,219) Additions 9,746 55,898 65,644 Sales (7,282) (52,666) (59,948) Other adjustments 397 (943) (546) Ending balance $ 15,017 $ 70,060 $ 85,077 For the year ended December 31, 2020 OREO OREO (In thousands) Commercial/ Construction Mortgage Total Balance at beginning of period $ 16,959 $ 105,113 $ 122,072 Write-downs in value (1,564) (3,060) (4,624) Additions 2,223 17,785 20,008 Sales (4,359) (49,797) (54,156) Other adjustments (45) (109) (154) Ending balance $ 13,214 $ 69,932 $ 83,146 |
Other assets
Other assets | 12 Months Ended |
Dec. 31, 2022 | |
Other Assets Abstract | |
Other assets | Note 14 − Other assets The caption of other assets in the consolidated (In thousands) December 31, 2022 December 31, 2021 Net deferred tax assets (net of valuation allowance) $ 953,676 $ 657,597 Investments under the equity method 210,001 298,988 Prepaid taxes 39,405 37,924 Other prepaid expenses 33,384 34,937 Capitalized software costs 81,862 44,908 Derivative assets 19,229 26,093 Trades receivable from brokers and counterparties 35,099 65,460 Receivables from investments maturities 125,000 - Principal, interest and escrow servicing advances 41,916 53,942 Guaranteed mortgage loan claims receivable 59,659 98,001 Operating ROU assets (Note 33) 125,573 141,748 Finance ROU assets (Note 33) 18,884 13,459 Others 104,125 155,514 Total other assets $ 1,847,813 $ 1,628,571 The Corporation regularly incurs in the Other Assets line item in the accompanying Consolidated Statements of Financial Condition. costs arrangements can The following arrangements: Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Value December 31, 2022 Software development costs [1] $ 63,609 $ 16,803 $ 46,806 Software license costs 37,165 14,164 23,001 Cloud computing arrangements 20,745 8,690 12,055 Total Capitalized $ 121,519 $ 39,657 $ 81,862 December 31, 2021 Software development costs $ 40,033 $ 18,972 $ 21,061 Software license costs 168,862 154,571 14,291 Cloud computing arrangements 18,346 8,790 9,556 Total Capitalized $ 227,241 $ 182,333 $ 44,908 [1] Software development costs includes $ 28.7 [2] At December 31, 2022 the table above excludes assets which Total expenses in the consolidated statement of operations, Year ended December (In thousands) 2022 2021 2020 Software development and license costs $ 55,011 $ 45,577 $ 43,259 Cloud computing arrangements 3,805 3,867 2,206 Total amortization $ 58,816 $ 49,444 $ 45,465 |
Goodwill and other intangible a
Goodwill and other intangible assets | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure | |
Goodwill And Other Intangible Assets | Note 15 – Goodwill and other intangible assets The segments, were as follows (refer to Note 37 for 2022 Balance at Goodwill on Goodwill Balance at (In thousands) January 1, 2022 impairment December 31, 2022 Banco Popular de Puerto Rico $ 320,248 $ 116,135 $ - $ 436,383 Popular U.S. 400,045 - (9,000) 391,045 Total Popular, $ 720,293 $ 116,135 $ (9,000) $ 827,428 2021 Balance at Goodwill on Goodwill Balance at (In thousands) January 1, 2021 impairment December 31, 2021 Banco Popular de Puerto Rico $ 320,248 $ - $ - $ 320,248 Popular U.S. 350,874 49,171 - 400,045 Total Popular, $ 671,122 $ 49,171 $ - $ 720,293 The goodwill recognized during $ 116.1 December 31, 49 Note business combinations, including 9 the year ended December 31, 2022 was recognized by the Corporation result of a decrease in the projected earnings At December 31, 2022 and 2021, the Corporation 0.7 The following table reflects the components of Gross Net Carrying Accumulated Carrying (In thousands) Amount Amortization Value December 31, 2022 Core deposits $ 12,810 $ 10,034 $ 2,776 Other customer relationships 14,286 4,878 9,408 Total other intangible $ 27,096 $ 14,912 $ 12,184 December 31, 2021 Core deposits $ 12,810 $ 8,754 $ 4,056 Other customer relationships 14,286 2,883 11,403 Total other intangible $ 27,096 $ 11,637 $ 15,459 During 3.3 intangible assets with definite useful lives (2021 9.1 6.4 The following periods: (In thousands) Year 2023 $ 3,179 Year 2024 2,938 Year 2025 1,750 Year 2026 1,440 Year 2027 959 Later years 1,918 Results of the Annual Goodwill Impairment Test The Corporation’s goodwill and annually and include, change in the competitive environment and a decision Management circumstances would more likely than not reduce The Corporation using July 31, 2022 as the annual evaluation date. The reporting units the business segments, as such all goodwill is assigned to the reporting In determining the fair value of each reporting unit, the Corporation generally uses a combination of methods, including market price multiples particular circumstances applied methodology to appropriate specific lines of business, and any particular The computations evaluations include: ● ● ● ● ● For purposes of the market comparable companies’ approach, valuations were determined by calculating relevant value drivers from a group of multiples considered more appropriate for each reporting unit. thus, a drivers. For purposes calculating comparable to the reporting unit being analyzed and For purposes projections financial included economic and industry conditions as well equity used to 12.51 % to 15.73 % for the 2022 analysis. The Ibbotson Build-Up Method year U.S. Treasury and a the current market conditions. The results of the BPPR annual goodwill impairment test as of July 31, 2022 valuation methodologies exceeded BPPR’s equity 3.1 245 % compared to $ 1.5 50 %, for the annual indicated that the average estimated fair value using all valuation methodologies exceeded PB’s equity value by approximately $ 670 million 41 %, 412 24 %, Accordingly, no approximately 93 % of the Corporation’s total goodwill balance as of An impairment of $ 9 a decrease in the projected earnings of this Furthermore, reporting units to the market capitalization of the Corporation concluding that the in the July 31, 2022 annual assessment were reasonable. The goodwill value impairment of goodwill that would, in turn, negatively goodwill is period of time negatively affecting forecasted cash flows could A decline in Rico continuance determination impairment of goodwill would result in a non-cash expense, net would not impact regulatory capital calculations. The following tables present the gross amount December 31, 2022 Balance at Balance at December 31, Accumulated December 31, 2022 impairment 2022 (In thousands) losses Banco Popular de Puerto Rico $ 440,184 $ 3,801 $ 436,383 Popular U.S. 564,456 173,411 391,045 Total Popular, $ 1,004,640 $ 177,212 $ 827,428 December 31, 2021 December 31, Accumulated December 31, 2021 impairment 2021 (In thousands) losses Banco Popular de Puerto Rico $ 324,049 $ 3,801 $ 320,248 Popular U.S. 564,456 164,411 400,045 Total Popular, $ 888,505 $ 168,212 $ 720,293 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2022 | |
Deposits [Abstract] | |
Deposits | Note 16 – Deposits Total interest bearing deposits as of the end of the periods presented consisted of: (In thousands) December 31, 2022 December 31, 2021 Savings accounts $ 14,746,329 $ 15,871,998 NOW, money market and other interest 23,738,940 28,736,459 Total savings, NOW, 38,485,269 44,608,457 Certificates of deposit: Under $250,000 4,235,651 4,086,059 $250,000 and over 2,545,750 2,626,090 6,781,401 6,712,149 Total interest bearing $ 45,266,670 $ 51,320,606 A summary of certificates of deposits by maturity at (In thousands) 2023 $ 3,949,235 2024 1,102,195 2025 743,799 2026 416,106 2027 486,738 2028 and thereafter 83,328 Total certificates of $ 6,781,401 At December 31, 2022, the Corporation had brokered 1.1 0.8 The aggregate amount 6.3 2022 (December 31, 2021 - $ 6.0 At 15.2 example, the receipt by could increase public be management adjustment plans approved Puerto Rico (the “Oversight Board”). |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Borrowings | Note 17 – Borrowings Assets sold under agreements to repurchase Assets sold under agreements to repurchase amounted 149 92 2021. The Corporation’s repurchase repurchase agreements. related Pursuant to the with the same counterparty. The following table that are collateralized with or which have been obtained under agreements to resell. under agreements Condition. Repurchase agreements accounted for as secured borrowings December 31, 2022 December 31, 2021 Repurchase liability Repurchase liability Repurchase Repurchase (Dollars in thousands) interest rate interest rate U.S. Treasury securities $ 410 4.40 % $ 19,538 0.30 % 30,739 3.79 30,295 0.21 17,521 4.39 29,036 0.29 Total U.S. Treasury 48,670 4.01 78,869 0.26 Mortgage-backed securities 98,984 4.27 11,733 0.26 791 3.27 - - - - 722 0.16 Total mortgage-backed 99,775 4.26 12,455 0.26 Collateralized mortgage obligations 164 4.25 279 0.25 Total collateralized 164 4.25 279 0.25 Total $ 148,609 4.18 % $ 91,603 0.26 % Repurchase agreements in this portfolio liquidity risks arising from secured securities collateral and pursuing longer durations, (Dollars in thousands) 2022 2021 Maximum aggregate balance outstanding at any month-end $ 162,450 $ 92,101 Average monthly aggregate balance outstanding $ 107,305 $ 91,394 Weighted average interest rate: For the year 2.15 % 0.35 % At December 31 4.23 % 0.26 % Other short-term borrowings At December 31, 2022 and December 31, 2021, 365 75 in FHLB Advances. The following table presents additional information the years ended December 31, 2022 and December (Dollars in thousands) 2022 2021 Maximum aggregate balance outstanding at any month-end $ 375,000 $ 75,000 Average monthly aggregate balance outstanding $ 99,083 $ 343 Weighted average interest rate: For the year 3.46 % 0.35 % At December 31 4.47 % 0.35 % Notes Payable The following table presents the composition of notes (In thousands) December 31, 2022 December 31, 2021 Advances with the FHLB with maturities ranging from 2023 2029 fixed rates ranging from 0.39 % to 3.18 % 0.39 % to 3.18 %) $ 389,282 $ 492,429 Unsecured senior debt securities maturing on September 2023 semiannually rate of 6.125 %, net of debt issuance costs of $ 891 2,158 ) 299,109 297,842 Junior subordinated deferrable interest debentures (related to 2034 6.125 % to 6.564 % (2021 - 6.125 % to 6.564 %), net of debt issuance costs of $ 315 342 ) 198,319 198,292 Total notes payable $ 886,710 $ 988,563 A breakdown of borrowings by contractual maturities Assets sold under Short-term (In thousands) agreements to repurchase borrowings Notes payable Total 2023 $ 148,609 $ 365,000 $ 342,370 $ 855,979 2024 - - 91,944 91,944 2025 - - 139,920 139,920 2026 - - 74,500 74,500 Later years - - 237,976 237,976 Total borrowings $ 148,609 $ 365,000 $ 886,710 $ 1,400,319 At borrow up to 3.3 3.0 0.8 0.6 December 31, 2022 and 0.4 1.2 FHLB credit with loans held-in-portfolio, and do not have restrictive Also, at York amounting to $ 1.4 1.3 2021. |
Trust preferred securities
Trust preferred securities | 12 Months Ended |
Dec. 31, 2022 | |
Trust preferred securities [Abstract] | |
Trust Preferred Securities | Note 18 – Trust preferred securities Statutory trusts established by the Corporation (Popular North America preferred proceeds of the related issuances of common securities of the trusts (the “common securities”), were used by the trusts to purchase junior subordinated deferrable interest debentures (the The sole receivable. These trusts are not consolidated States of America. The junior subordinated Condition, while securities of each trust are wholly-owned, or indirectly On November 1, amounting to approximately $ 187 181 approximately $ 6 The following table presents financial data pertaining (Dollars in thousands) December 31, 2022 and 2021 Popular North America Popular Issuer Capital Trust I Capital Trust Il Capital securities $ 91,651 $ 101,023 Distribution rate 6.564 % 6.125 % Common securities $ 2,835 $ 3,125 Junior subordinated debentures aggregate liquidation amount $ 94,486 $ 104,148 Stated maturity date September 2034 December 2034 Reference notes [1],[3],[5] [2],[4],[5] [1] Statutory business trust that is wholly-owned by [2] Statutory business trust that is wholly-owned by [3] The obligation of PNA under the junior subordinated guaranteed on a subordinated basis by the Corporation [4] These capital securities are fully and unconditionally guaranteed agreement. [5] The Corporation has the right, subject to any required occurrence of certain events mentioned below, accrued and unpaid interest to the date of redemption. The Corporation prior to their stated maturity dates (i) on or in part from time to time, or (ii) in whole, but not in part, an investment company event or a capital treatment event regulatory approval. At 193 treatment, but instead qualify for Tier 2 capital treatment compared 193 |
Other liabilities
Other liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Other Liabilities Disclosure [Abstract] | |
Other liabilites | Note 19 − Other liabilities The caption of other liabilities in the consolidated (In thousands) December 31, 2022 December 31, 2021 Accrued expenses $ 337,284 $ 308,594 Accrued interest payable 39,288 33,227 Accounts payable 76,456 91,804 Dividends payable 39,525 35,937 Trades payable 9,461 13,789 Liability for GNMA loans sold with an option to repurchase 14,271 12,806 Reserves for loan indemnifications 7,520 12,639 Reserve for operational losses 39,266 43,886 Operating lease liabilities (Note 33) 137,290 154,114 Finance lease liabilities (Note 33) 24,737 19,719 Pension benefit obligation 8,290 8,778 Postretirement benefit obligation 118,336 161,988 Others 65,222 70,967 Total other liabilities $ 916,946 $ 968,248 |
Stockholders' equity
Stockholders' equity | 12 Months Ended |
Dec. 31, 2022 | |
Stockholders' Equity Note | |
Stockholders' Equity | Note 20 – Stockholders’ equity The Corporation’s common stock ranks junior to all series of dissolution declare or event that the the Corporation to financial results, capital levels and liquidity of the Corporation, general Corporation’s Board of Directors. The Corporation’s Series A Preferred Stock are not listed on Nasdaq. Preferred stocks The Corporation has 30,000,000 each series shall have such rights and preferences as shall be fixed by the Board of Directors when authorizing the issuance of that particular series. The Corporation’s shares of preferred stock at ● 6.375 % non-cumulative monthly income preferred stock, 2003 Series 25 per share. Holders on record of the 2003 Series A Preferred Stock are entitled to Board of cash dividends at the 6.375 % of their 0.1328125 month. securities of the Governors 25.00 . Preferred Stock have no voting for a defined period. These the 2003 1.4 Outstanding shares of 2003 Series A Preferred Stock amounted 885,726 On February 24, 2020, the price of 25.00 0.1375 dividends for the current monthly dividend period to 25.1375 . Common stock Dividends During 2.20 1.75 ; 1.60 ) amounting to $ 163.7 142.3 136.6 39.5 common 35.9 33.7 0.55 declared to stockholders of record as of the close of business on December 7, 2022 , was paid on January 3, 2023 . On February 28, 2023, the Corporation’s Board of Directors approved a quarterly cash dividend of $ 0.55 payable on April 3, 2023 March 20, 2023 . Accelerated share repurchase transaction (“ASR”) On August 231 ASR Agreement”), which was accounted for as 2,339,241 Corporation recognized in stockholders’ equity approximately $ 185 46 surplus. The Corporation completed the transaction on December 7, 2022 and received 840,024 and 60 Corporation repurchase a total of 3,179,265 72.6583 On 400 respect to receipt 3,483,942 320 stock and 80 1,582,922 120 capital surplus. In 5,066,864 78.9443 the March ASR Agreement. On 350 accounted for as a treasury stock transaction. As a result of the receipt of the initial 3,785,831 stockholders’ equity approximately $ 280 70 completed the 828,965 61 million in treasury 4,614,796 shares at an average price of $ 75.8430 On January 500 accounted for as a treasury stock transaction. As a result of the receipt of the initial 7,055,919 stockholders’ equity 400 100 2020 (the trading price of the global markets. As a result of such early quarter received 4,763,216 11,819,135 42.3043 Statutory reserve The a minimum of 10% of BPPR’s net income transferred to stock. Any losses the Institutions. reserve fund 863 786 708 77 was transferred to the statutory reserve account (2021 - $ 78 49 reserve requirement in 2022, 2021 and 2020. |
Regulatory capital requirements
Regulatory capital requirements | 12 Months Ended |
Dec. 31, 2022 | |
Regulatory Capital Requirements | |
Regulatory Capital Requirments | Note 21 – Regulatory capital requirements The Corporation, Failure to meet minimum capital requirements can if undertaken, PB are with the standardized approach for determining The Basel III Capital to risk-weighted assets. The Basel III Capital Rules provide that a of at 5 %, a 6.5 %, a Tier 8 % and 10 %. requirements to which it is subject. The Corporation engage in certain financial activities permitted under Pursuant to the adoption of the CECL accounting standard on period provision delays for two years the estimated impact of the adoption of the CECL accounting standard on regulatory capital, followed by a three-year transition period to phase out On banking organizations to allow Coronavirus Aid, Relief the subsidiaries, are permitted to risk-based Facility”), which provides Federal Reserve Bank loans to eligible financial institutions such as the Corporation’s Bank subsidiaries to fund PPP loans, the to exclude from total average assets PPP loans that have been pledged as collateral for a the Corporation has $ 38 no At December 31, 2022 and 2021, BPPR and The following Basel III regulatory guidance. Actual Capital adequacy minimum requirement (including conservation capital buffer) [1] (Dollars in thousands) Amount Ratio Amount Ratio 2022 Total Capital (to Risk-Weighted Corporation $ 6,285,648 18.26 % $ 3,613,668 10.500 % BPPR 4,541,915 18.34 2,599,872 10.500 PB 1,463,511 15.59 985,510 10.500 Common Equity Tier I Capital (to Risk-Weighted Corporation $ 5,639,686 16.39 % $ 2,409,112 7.000 % BPPR 4,230,820 17.09 1,733,248 7.000 PB 1,395,272 14.87 657,007 7.000 Tier I Capital (to Risk-Weighted Assets): Corporation $ 5,661,829 16.45 % $ 2,925,351 8.500 % BPPR 4,230,820 17.09 2,104,658 8.500 PB 1,395,272 14.87 797,794 8.500 Tier I Capital (to Average Assets): Corporation $ 5,661,829 8.06 % $ 2,811,504 4 % BPPR 4,230,820 7.10 2,383,478 4 PB 1,395,272 13.08 426,832 4 [1] The conservation capital buffer included for these 2.5 %, except for the Tier I to Average and therefore the capital adequacy minimum of 4 % is presented. Actual Capital adequacy minimum requirement (including conservation capital buffer) (Dollars in thousands) Amount Ratio Amount Ratio 2021 Total Capital (to Risk-Weighted Corporation $ 6,084,105 19.35 % $ 3,301,329 10.500 % BPPR 4,281,930 18.92 2,376,184 10.500 PB 1,361,911 16.78 852,032 10.500 Common Equity Tier I Capital (to Risk-Weighted Corporation $ 5,476,031 17.42 % $ 2,200,886 7.000 % BPPR 3,998,102 17.67 1,584,123 7.000 PB 1,309,398 16.14 568,021 7.000 Tier I Capital (to Risk-Weighted Assets): Corporation $ 5,498,174 17.49 % $ 2,672,504 8.500 % BPPR 3,998,102 17.67 1,923,577 8.500 PB 1,309,398 16.14 689,740 8.500 Tier I Capital (to Average Assets): Corporation $ 5,498,174 7.41 % $ 2,969,535 4 % BPPR 3,998,102 6.24 2,561,003 4 PB 1,309,398 13.44 389,736 4 The following table presents the minimum amounts 2022 2021 (Dollars in thousands) Amount Ratio Amount Ratio Total Capital (to Risk-Weighted BPPR $ 2,476,068 10 % $ 2,263,032 10 % PB 938,581 10 811,459 10 Common Equity Tier I Capital (to Risk-Weighted BPPR $ 1,609,444 6.5 % $ 1,470,971 6.5 % PB 610,078 6.5 527,448 6.5 Tier I Capital (to Risk-Weighted Assets): BPPR $ 1,980,855 8 % $ 1,810,426 8 % PB 750,865 8 649,167 8 Tier I Capital (to Average Assets): BPPR $ 2,979,348 5 % $ 3,201,254 5 % PB 533,540 5 487,171 5 |
Other comprehensive (loss) inco
Other comprehensive (loss) income | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Change In Accumulated Other Comprehensive Income Loss [Abstract] | |
Other Comprehensive Income (Loss) | Note 22 – Other comprehensive (loss) income The December 31, 2022, 2021 and 2020. Changes in Accumulated Other Comprehensive (Loss) Income Years ended December (In thousands) 2022 2021 2020 Foreign currency translation Beginning Balance $ (67,307) $ (71,254) $ (56,783) Other comprehensive income (loss) 10,572 3,947 (14,471) Net change 10,572 3,947 (14,471) Ending balance $ (56,735) $ (67,307) $ (71,254) Adjustment of pension and postretirement benefit plans Beginning Balance $ (158,994) $ (195,056) $ (202,816) Other comprehensive income (loss) before reclassifications 4,882 23,094 (5,645) Amounts reclassified from accumulated other comprehensive loss amortization of net losses 9,777 12,968 13,405 Net change 14,659 36,062 7,760 Ending balance $ (144,335) $ (158,994) $ (195,056) Unrealized net holding (losses) gains on debt securities Beginning Balance $ (96,120) $ 460,900 $ 92,155 Other comprehensive (loss) income before reclassifications (2,261,097) (557,002) 368,780 Amounts reclassified from accumulated other comprehensive income for gains on securities - (18) (35) Amounts reclassified from accumulated other comprehensive income for amortization of net unrealized losses of debt securities transferred from available-for-sale to held-to-maturity 33,314 - - Net change (2,227,783) (557,020) 368,745 Ending balance $ (2,323,903) $ (96,120) $ 460,900 Unrealized net gains (losses) on cash flow hedges Beginning Balance $ (2,648) $ (4,599) $ (2,494) Other comprehensive income (loss) before reclassifications 3,107 367 (6,400) Amounts reclassified from accumulated other comprehensive income (loss) (414) 1,584 4,295 Net change 2,693 1,951 (2,105) Ending balance $ 45 $ (2,648) $ (4,599) Total $ (2,524,928) $ (325,069) $ 189,991 [1] All amounts presented are net of tax. The following table presents the amounts reclassified out of each component of accumulated other comprehensive (loss) income for the years ended December 31, 2022, 2021, and Reclassifications Out of Accumulated Other Comprehensive Affected Line Item in the Years ended December (In thousands) Consolidated Statements of Operations 2022 2021 2020 Adjustment of pension and postretirement benefit plans Amortization of net losses Other operating expenses $ (15,644) $ (20,749) $ (21,447) Total before tax (15,644) (20,749) (21,447) Income tax benefit 5,867 7,781 8,042 Total net of tax $ (9,777) $ (12,968) $ (13,405) Unrealized net holding (losses) gains on debt securities Realized gain on sale of debt securities Net gain (loss) on sale of debt securities $ - $ 23 $ 41 Amortization of unrealized net losses of debt securities transferred to held-to-maturity Investment securities [1] (41,642) - - Total before tax (41,642) 23 41 Income tax benefit (expense) 8,328 (5) (6) Total net of tax $ (33,314) $ 18 $ 35 Unrealized net gains (losses) losses on cash flow hedges Forward contracts Mortgage banking activities $ 1,458 $ (704) $ (5,559) Interest rate swaps Other operating income (498) (1,143) (820) Total before tax 960 (1,847) (6,379) Income tax (expense) benefit (546) 263 2,084 Total net of tax $ 414 $ (1,584) $ (4,295) Total reclassification $ (42,677) $ (14,534) $ (17,665) [1] In October 2022, the Corporation transferred U.S. Treasury 6.5 7.4 sale portfolio to its held-to-maturity portfolio. Refer to Note 7 to |
Guarantees
Guarantees | 12 Months Ended |
Dec. 31, 2022 | |
Guarantees | |
Guarantees | Note 23 – Guarantees The Corporation agreements as summarized below. The financial institutions, in each case to guarantee the performance of various its financial would be obligated to make the payment to the guaranteed party. At December 31, 2022, the Corporation recorded a liability of $ 0.3 million (December 0.2 guarantees under the standby fair value the obligation at for issuing such commitments. These fees are deferred and are recognized over the commitment period. The contracted amounts standby letters of of future customers. These drawn customers, the Corporation has rights to the underlying estate, receivables, and others. Management does Also, from instances, to lifetime not sold transactions, residential mortgage loans to certain representations for example, to borrower creditworthiness, loan documentation, collateral, prepayment and early payment defaults. may be required to repurchase the loans under At 0.6 0.7 subject to programs. In the event the Corporation equivalent During 2022, 7 credit recourse 19 underlying foreclosure sale plus any Corporation’s liability amounted to 7 12 The following estimated losses from years ended December 31, 2022 and 2021. Years ended December (In thousands) 2022 2021 Balance as of beginning of period $ 11,800 $ 22,484 Provision (benefit) for recourse liability (1,715) (2,948) Net charge-offs (3,188) (7,736) Balance as of end of period $ 6,897 $ 11,800 The estimated losses to be absorbed under the credit are updated by sold” information becomes available. The given and future defaults Expected loss lost on a given loan, considers the loan in the relationship aging, among others. When the the characteristics pools which are sold directly the Corporation to the loans. 1 arrangements. no December 31, 2021. ultimate losses on the loans are not deemed From representations and losses associated with indemnifications and representations and warranties related to loans sold by BPPR 0.6 (December 31, 2021 - $ 0.8 Servicing agreements serviced to principal, interest, taxes Corporation serviced 11.1 31, 2021 12.1 owner, from and advances delinquent and defaulted mortgage loans. In of December agreements 42 54 Corporation’s servicing portfolio experience increased delinquencies, the resources collection efforts. Popular, 100 % owned consolidated subsidiaries amounting to 94 In addition, at both December 31, 2022 and December 31, 2021, PIHC $ 193 applicable preferred securities. |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure | |
Commitments And Contingencies | Note 24 – Commitments and contingencies Off-balance sheet risk The Corporation financial needs of its customers. These financial instruments These instruments involve, consolidated statements of financial condition. The commitments to extend credit, standby of those instruments. The does for those reflected on the consolidated statements Financial instruments with periods presented were as follows: (In thousands) December 31, 2022 December 31, 2021 Commitments to extend credit: Credit card lines $ 5,853,990 $ 5,382,089 Commercial and construction lines of credit 4,425,825 3,830,601 Other consumer unused credit commitments 250,271 250,229 Commercial letters of credit 3,351 3,260 Standby letters of credit 27,868 27,848 Commitments to originate or fund mortgage loans 45,170 95,372 At 8.8 7.9 million, respectively, for potential losses associated with unfunded loan commitments related to credit. Other commitments At December 31, $ 4.8 1.0 Business concentration Since the Corporation’s business activities are concentrated primarily in Puerto Rico, its results of operations and financial condition are dependent markets. The concentration with a wider geographic base. Its Financial Statements. Puerto Congress enacted the things, instrumentalities and proceedings under PROMESA, restructuring proceeding under PROMESA. At December 31, 2022, the Corporation’s direct exposure to the totaled $ 374 327 367 349 outstanding, 302 25 319 30 Substantially all Rico pledged municipality 73 % securities was concentrated in the municipalities of The following table details the loans and investments representing the Corporation’s direct exposure to according to their maturities as of December 31, 2022: (In thousands) Investment Portfolio Loans Total Outstanding Total Exposure Central Government After 1 to 5 years $ 12 $ - $ 12 $ 12 After 5 to 10 years 1 - 1 1 After 10 years 29 - 29 29 Total Central 42 - 42 42 Municipalities Within 1 year 4,530 20,243 24,773 42,962 After 1 to 5 years 19,105 101,009 120,114 149,114 After 5 to 10 years 1,025 131,202 132,227 132,227 After 10 years - 49,831 49,831 49,831 Total Municipalities 24,660 302,285 326,945 374,134 Total Direct Government $ 24,702 $ 302,285 $ 326,987 $ 374,176 In 251 governmental entities 275 These 209 governmental instrumentality that 232 These mortgage loans are secured by first mortgages on Puerto Rico residential properties and the HFA the event 2022, $ 42 for which HFA conditions (December 43 directly or those serving as collateral for the HFA these loans, HFA’s obligations losses moratorium on the financial obligations of the HFA, a moratorium on BPPR’s other relationships with the government. These ongoing government furloughs or reductions in pension benefits. In 1.6 38 Protection Program (“PPP”) and 72 at December 31, 2022 (compared to $ 1.6 353 67 also had U.S. Treasury and obligations from the U.S. Government, of available-for-sale and held-to-maturity securities as described At December 31, 28 million 70 number of service their outstanding At December the COVID-19 Although approximately 214 221 December 31, 2021. Legal Proceedings The proceedings 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 quarterly basis, Popular assesses its liabilities and contingencies relating information reasonably estimated, quarterly amount of the loss cannot be reasonably estimated, In certain Management believes and may be determined, in excess of amounts accrued) 0 20.6 of involves significant judgment, given the in preliminary stages), the yet to be determined, the numerous unresolved issues in potential losses may be more or less than the current estimate. While the available liability arising from adverse effect possible that the Corporation’s consolidated financial position for that period. Set forth below is a description of the Corporation’s BANCO POPULAR DE PUERTO RICO Hazard Insurance Commission-Related Litigation Popular, captioned Pérez damages and preliminary and Insurance Company and MAPFRE-PRAICO Insurance Company (the “Defendant Popular Companies policies. They demanded 400 experience” injunctive relief seeking to and ordering them Companies Defendants’ request to review the lower court’s denial of the motion to dismiss. In December 2017, plaintiffs amended the complaint and, broadly certified the relation voluntary dismissal petitions against MAPFRE-PRAICO Insurance Company and the Popular Defendants as the sole remaining In April mortgage from BPPR Insurance, LLC Court approved in September 2020 the notice In liability, and BPPR held in September 2021 to discuss the pending motions for summary judgment, Plaintiffs notified they did not object the dismissal of the action with prejudice as to Popular, defendant in the case. In October 2021, the Court In denial of the motion for summary judgment, court’s decision failed instructions to granting Popular Insurance’s summary judgment motion. In Judgment. from the granted summary Appeals denied Puerto Rico Supreme Court seeking review of the Popular Insurance Rico entirety became final and unappealable on December Mortgage-Related Litigation BPPR was residential through provide them with such reduced loan payments, instead subjecting them to lengthy loss mitigation processes while filing foreclosure claims (“RESPA”), Act (“FDCPA”) complaint. After waiving service BPPR entered an Motion for Reconsideration in April 2019, which Popular timely opposed. In September 2019, the Court issued an Amended Opinion and Order dismissing plaintiffs’ claims against all issuing final which was denied Circuit. brief in January 2021. The appeal is now fully briefed Insufficient Funds and Overdraft Fees Class Actions In February Rico, filed before the United States District the covenant of good faith and fair dealing insufficient funds fee (“NSF Fees”) on the Fees”) on period dismiss the case. In April enrichment claim motion. In March Popular, complaint. Similar to the claims set forth in the Soto-Melendez complaint, Plaintiffs allege breach of contract, breach of the covenant of good faith and on “checks” in addition to ACH payments. During a settlement in principle on a and a agreement for the Court's preliminary the settlement agreement and scheduled the Popular was also named as before alleged breach consumer protection law not overdraw the Settle sufficient funds state a U.S. District Court for the Southern District of New York and, simultaneously, filed an identical complaint in the U.S. District Court for the Voluntary argued failure only defendant remaining in the case, was served In scheduling November 1, During a deadline to hearing held on October 14, 2022, the parties in the Golden action reached a settlement in principle on a class-wide basis subject to final proceedings while parties filed the motion for preliminary approval of On January Inc. d/b/a Banco Popular, filed before the U.S. District Court for the Southern District injunctive relief. Similar to the claims set forth in the violations of the covenant of good faith and transactions. are held for settlement. Popular Popular’s motion, Plaintiff filed a Notice of Voluntary Dismissal on On May Popular Plaintiff with a written notice of election to a conference motion, on September 8, 2022. Plaintiff opposed to such motion on On December 2022, Popular Bank filed the Appeals also scheduled a “CAMP” mediation conference, which was held the mediation. Cyber Incident Related Litigation BPPR was named captioned safeguard experienced exploitation vendor. Plaintiff PII of the plaintiff all data state or local laws, as well as on May 27, 2022 to Dismiss briefed and pending resolution. POPULAR BANK Employment-Related Litigation In 5 ) current employees (collectively, Court of the State of New York (the “AB Action”). The complaint, filed by five ( 5 ) current and former PB employees, seeks to recover damages Additionally, 6 ) current PB Supreme Court 3 ) current seeks to recover damages for the DR Defendants’ both complaints are represented by the same legal counsel, and same named sexual harassment and/or misconduct by a former PB employee as $ 100 the motions motions plaintiffs in the AB Action. In Aileen Betances against PB for retaliation, and Betances’ claim against 3 ) other AB Defendants for aiding/abetting the alleged retaliation. Also, in July Defendants, claims. Plaintiffs in both the AB Action and the DR Action filed notices of appeal of both judgments. On August 11, 2021, PB and the remaining AB Defendants in the claims. On judgments. PB principal plaintiff their claims principle subject to final documentation, to settle all claims In Action and the DR Action executed settlement agreements that disposed Stipulation of Dismissal with Prejudice with the POPULAR SECURITIES Puerto Rico Bonds and Closed-End Investment The volatility primarily in and complaints 13 proceedings with 13.4 meritorious defenses to the claims asserted in these proceedings, claims defaults and Title III and Securities concerning Puerto Rico bonds and closed-end investment companies that invest primarily in Puerto results adverse effect on Popular. In October 2021, a panel in an arbitration proceeding with claimed damages arising from trading losses of approximately $ 30 ordered 6.9 2021, United Defendants”) alleging, inter alia, and Popular Defendants caused them to to the Plaintiffs on additional investment federal fault, fault in causing losses in value of the pledge collateral, breach of contract, request for specific compliance thereof, fault in pre- contractual negotiations, emotional distress, and punitive damages. In January 2022, Plaintiffs filed an Amended Complaint, and the Popular Defendants were served with summons on that same date. Plaintiffs demand no less than $ 390 award for costs and attorney's fees. The on June 10, 2022. Popular 2022. On between February 15, 2023, the United States District Court for the District of Puerto Rico issued an order dismissing the case and stating that a judgment shall be entered accordingly. PROMESA Title III Proceedings In Oversight Board Securities requests independent investigation. In August allegation that bonds enrichment claim against the Corporation and could also serve as a basis to equitably subordinate claims filed by the Corporation in the Title III proceeding to other third-party claims. After the publication of the Final Report, the Oversight Board created a special claims committee (“SCC”) and, before the end of the applicable two-year statute of limitations for the filing of such claims pursuant Commonwealth’s third parties, including government vendors and challenged as with respect to potential claims the SCC and the UCC, the Popular Companies for the avoidance and recovery of payments and/or transfers made to the Popular Companies or as a result of any role the UCC and the Popular Companies executed a settlement agreement as to potential claims related to the avoidance and recovery of payments and/or claims tolled the approval asserted Companies in the offering of certain challenged bond |
Non-consolidated variable inter
Non-consolidated variable interest entities | 12 Months Ended |
Dec. 31, 2022 | |
Variable Interest Entity | |
Variable interest entity disclosure | Note 25 – Non-consolidated variable interest The Corporation trusts rights. The Furthermore, the Corporation trusts substance the sponsor is guaranteeing its own debt. Also, the including exposure in the entities guaranteed loan retained. The Corporation is not required to provide additional financial support to transferred Consolidated essentially, collateral, require can remove a agencies (FNMA and GNMA) have the obligation The mortgage obligations, including those securities originated by the Corporation and those acquired from Corporation holds agency mortgage-backed securities which information trading securities interests special purpose entities (“SPEs”) and transferred to those SPEs by a third-party. The following non-consolidated VIEs FNMA loans at December 31, 2022 and 2021. (In thousands) December 31, 2022 December 31, 2021 Assets Servicing assets: Mortgage servicing rights $ 99,614 $ 94,464 Total servicing $ 99,614 $ 94,464 Other assets: Servicing advances $ 6,157 $ 7,968 Total other assets $ 6,157 $ 7,968 Total assets $ 105,771 $ 102,432 Maximum exposure to loss $ 105,771 $ 102,432 The size of the total unpaid principal balance of the loans, 7.7 8.3 The Corporation servicing advances the maximum exposure to loss since they are guaranteed 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 changed therefore, these VIEs are not required to be consolidated |
Derivative instruments and hedg
Derivative instruments and hedging activities | 12 Months Ended |
Dec. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure | |
Derivative Instruments and Hedging Activities | Note 26 – Derivative instruments and hedging The significant unplanned fluctuations in manage interest so trading activities hedged fixed and appreciation or depreciation is expected to be substantially that are linked to these hedged assets and liabilities. As a matter of policy, instruments for interest rate risk management. The credit the ended December 0.5 Corporation’s credit standing adjustment. of $ 0.3 0.7 The Corporation’s derivatives are subject to agreements which allow a right of set-off with each respective counterparty. of default, each party has a right of set-off or obligation owed in respect of any Pursuant to the Corporation’s accounting policy, the agreements allow financial collateral or the obligation to return financial Financial were as follows: Notional amount Derivative assets Derivative liabilities Statement of Fair value at Statement of Fair value at At December 31, condition December 31, condition December 31, (In thousands) 2022 2021 classification 2022 2021 classification 2022 2021 Derivatives designated as Forward contracts $ 15,100 $ 87,900 Other assets $ 93 $ 18 Other liabilities $ 22 $ 125 Total derivatives designated $ 15,100 $ 87,900 $ 93 $ 18 $ 22 $ 125 Derivatives not designated Interest rate caps $ 150,000 $ 27,866 Other assets $ 1,045 $ - Other liabilities $ 1,045 $ - Indexed options on deposits 85,414 79,114 Other assets 18,091 26,075 - - - Bifurcated embedded options 78,972 72,352 - - - Interest bearing deposits 15,933 22,753 Total derivatives not $ 314,386 $ 179,332 $ 19,136 $ 26,075 $ 16,978 $ 22,753 Total derivative assets $ 329,486 $ 267,232 $ 19,229 $ 26,093 $ 17,000 $ 22,878 Cash Flow Hedges The Corporation Interest rate forwards are contracts for the delayed delivery of securities, at accounting. Changes in the fair value of the derivatives are recorded in other comprehensive (loss) accumulated other comprehensive (loss) income corresponding to these forward contracts is expected to be reclassified to earnings in the next twelve months. These contracts have 72 For cash flow hedges, income to current period the forecasted transaction impacts earnings, as Year ended December (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ 1,636 Mortgage banking activities $ 1,458 $ - Total $ 1,636 $ 1,458 $ - Year ended December (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ 456 Mortgage banking activities $ (704) $ - Total $ 456 $ (704) $ - Year ended December (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ (6,594) Mortgage banking activities $ (5,559) $ - Total $ (6,594) $ (5,559) $ - Fair Value Hedges At December 31, 2022 and 2021, there were no Non-Hedging Activities For the year ended December 31, 2022, the 7.7 2.3 of $ 3.0 Amount of Net Gain (Loss) Recognized in Income on Derivatives Year ended Year ended Year ended Classification of Net Gain (Loss) December 31, December 31, December 31, (In thousands) Recognized in Income on Derivatives 2022 2021 2020 Forward contracts Mortgage banking activities $ 8,094 $ 2,027 $ (5,027) Indexed options on deposits Interest expense (5,290) 6,824 5,462 Bifurcated embedded options Interest expense 4,942 (6,538) (3,417) Total $ 7,746 $ 2,313 $ (2,982) Forward Contracts The Corporation has forward contracts to sell in their fair value are recognized in mortgage banking Interest Rate Caps The positions under the same terms and conditions, thus Indexed and Embedded Options The Corporation offers certain customers’ deposits whose return stock performance. The accordance with purchases indexed options which market. Accordingly, the embedded options and the related indexed options are |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions | |
Related Party Transactions | Note 27 – Related party transactions The Corporation grants loans to its directors, executive officers, including the ordinary course of business. The activity and balance (In thousands) Balance at December 31, 2020 $ 124,891 New loans 3,182 Payments (28,208) Other changes, including existing loans to new related parties 2,714 Balance at December 31, 2021 $ 102,579 New loans 11,090 Payments (15,402) Other changes, including existing loans to new related parties 27,070 Balance at December 31, 2022 $ 125,337 New loans and payments include disbursements and collections The Corporation has had loan transactions with organizations, and affiliates, and same terms, including interest rates and collateral, as those prevailing for comparable loan transactions with third parties. Except as discussed present other unfavorable features. In 2010, wholly guaranteed aggregate outstanding principal 33.5 and 2014, five 19.8 with 6 % five 13.5 1 % annual interest and, thereafter, various interim Notes A 4.25 % and 1 %. In two conditions director entered into a three-year extension of rate applicable to Notes A to 5.25 % and maintained the Notes B 1 % and (ii) established a schedule for 0.7 Audit Committee in accordance with the Related Party 2022 was approximately $ 29.3 15.8 13.5 During 2022, the borrower paid approximately $ 1.4 0.7 In April 2010, in to a Executive Officer, as well as certain of his owners of an principal balance of $ 40.2 of sale, the loan had an unpaid principal balance of $ 37.9 37.9 6.0 was recognized by BPPR as a capital contribution representing the difference at the terms as August 2017, the credit loan payment moratorium offered as part of the hurricane relief efforts. As such, 0.5 million Related Party Policy, a 36 -month renewal of the loan at an interest rate of 5.75 % and a 30 -year amortization schedule. In December 2021, the Corporation refinanced the then-current $ 36.0 4.50 %, a maturity date of December 20 -year amortization schedule. Payments 1.2 $ 1.5 approximately $ 33.6 At December 31, 628 million (2020 - $ 700 From association with the into with independent third parties. For 4.8 Popular and 4.5 The Corporation also provided 2022 amounted to approximately $ 1.5 1.3 Related party transactions with Evertec, Until August 15, 2022, the Corporation had an investment in Evertec, which provides various processing and information technology services to the Corporation December 11,654,803 16.19 %. investment was 1.5 Evertec during the year ended December 31, 2022 2.3 As discussed assets from Evertec entered provide various information technology part acquiring relationship 4,589,169 169.2 $ 36.88 ). As a result of the exchange of shares, the 119.9 Additionally, on August 15, 2022, the Corporation completed the sale of its remaining 7,065,634 Inc.. discontinued accounting for its method of 137.8 million, including related accounting adjustments. The following for the years ended December 31, 2022 and 2021, Years ended December (In thousands) 2022 2021 2020 Share of Evertec income and Gain from the Evertec Transactions and related accounting adjustments $ 269,539 $ 26,096 $ 16,936 Share of other changes in Evertec's stockholders' equity 3,168 53 865 Share of Evertec's changes in equity recognized in income Gain from the Evertec Transaction and adjustments $ 272,707 $ 26,149 $ 17,801 [1] consolidated 17.3 connection with the Business Acquisition Transaction. The following tables present the and expenses to the Corporation are presented with Years ended December (In thousands) 2022 [1] 2021 2020 Category Interest expense on deposits $ (267) $ (388) $ (315) Interest expense ATH and credit cards interchange 13,955 27,384 22,406 Other service fees Rental income charged to Evertec 3,258 6,593 7,305 Net occupancy Fees on services provided by Evertec (128,681) (245,945) (223,069) Professional fees Other services provided to Evertec 420 740 1,002 Other operating expenses Total $ (111,315) $ (211,616) $ (192,671) [1] Includes activity through June 30, 2022. The Corporation continues to obtain programming, processing, and other technology services from Evertec under the amended and restated Master 242 million 6.7 acquiring relationship. Under the terms of the MSA, Evertec will be entitled to receive monthly payments from the Corporation to the extent that Evertec’s revenues, covered under the MSA, fall Centro Financiero BHD León At December 31, 2022, the Corporation had a 15.84 % equity interest in Centro Financiero BHD León, S.A. (“BHD León”), one of the largest Corporation recorded $ 31.2 27.7 carrying amount 199.8 180.3 16.0 million in dividends distributions during the $ 4.3 Investment Companies The Corporation, companies registered BPPR, calculated advisory role, the Corporation considers these investment For 2.5 (December 31, 2021 - 4.1 0.9 1.5 1.6 million (December 31, 2021 - $ 2.6 |
Fair value measurement
Fair value measurement | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures | |
Fair Value Measurement | Note 28 – Fair value measurement ASC Subtopic valuation techniques measurements and disclosures. The hierarchy is broken ● Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Corporation has the ability to access at since valuations are based on quoted prices that ● Level 2 - Quoted prices other than those included in Level 1 that are observable either directly or indirectly. include liabilities in market data for substantially the full term of the ● Level - Corporation’s own judgements about assumptions that The observable inputs be used when are curves, interest rates, that the financial instrument’s These adjustments include amounts that reflect counterparty credit quality, and unobservable parameters that are applied consistently. The estimated fair financial instruments. Changes in the underlying assumptions Fair Value on a Recurring and Nonrecurring Basis The following fair value hierarchy tables a recurring basis at December 31, 2022 and At December 31, 2022 (In thousands) Level 1 Level 2 Level 3 Measured at NAV Total RECURRING FAIR VALUE Assets Debt securities available-for-sale: U.S. Treasury securities $ 1,908,589 $ 9,272,359 $ - $ - $ 11,180,948 Collateralized mortgage obligations - federal agencies - 165,196 - - 165,196 Mortgage-backed securities - 6,456,459 711 - 6,457,170 Other - 60 1,000 - 1,060 Total debt securities $ 1,908,589 $ 15,894,074 $ 1,711 $ - $ 17,804,374 Trading account debt securities, excluding derivatives: U.S. Treasury securities $ 13,069 $ - $ - $ - $ 13,069 Obligations of Puerto Rico, States and political subdivisions - 64 - - 64 Collateralized mortgage obligations - 47 113 - 160 Mortgage-backed securities - 14,008 215 - 14,223 Other - - 207 - 207 Total trading account derivatives $ 13,069 $ 14,119 $ 535 $ - $ 27,723 Equity securities $ - $ 29,302 $ - $ 330 $ 29,632 Mortgage servicing rights - - 128,350 - 128,350 Derivatives - 19,229 - - 19,229 Total assets measured recurring basis $ 1,921,658 $ 15,956,724 $ 130,596 $ 330 $ 18,009,308 Liabilities Derivatives $ - $ (17,000) $ - $ - $ (17,000) Total liabilities measured recurring basis $ - $ (17,000) $ - $ - $ (17,000) At December 31, 2021 (In thousands) Level 1 Level 2 Level 3 Measured at NAV Total RECURRING FAIR VALUE Assets Debt securities available-for-sale: U.S. Treasury securities $ - $ 15,859,030 $ - $ - $ 15,859,030 Obligations of U.S. Government entities - 70 - - 70 Collateralized mortgage obligations - federal agencies - 221,265 - - 221,265 Mortgage-backed securities - 8,886,950 826 - 8,887,776 Other - 128 - - 128 Total debt securities $ - $ 24,967,443 $ 826 $ - $ 24,968,269 Trading account debt securities, excluding derivatives: U.S. Treasury securities $ 6,530 $ - $ - $ - $ 6,530 Obligations of Puerto Rico, States and political subdivisions - 85 - - 85 Collateralized mortgage obligations - 59 198 - 257 Mortgage-backed securities - 22,559 - - 22,559 Other - - 280 - 280 Total trading account derivatives $ 6,530 $ 22,703 $ 478 $ - $ 29,711 Equity securities $ - $ 32,429 $ - $ 77 $ 32,506 Mortgage servicing rights - - 121,570 - 121,570 Derivatives - 26,093 - - 26,093 Total assets measured recurring basis $ 6,530 $ 25,048,668 $ 122,874 $ 77 $ 25,178,149 Liabilities Derivatives $ - $ (22,878) $ - $ - $ (22,878) Contingent consideration - - (9,241) - (9,241) Total liabilities measured recurring basis $ - $ (22,878) $ (9,241) $ - $ (32,119) The fair value information included in the following was recorded during the years ended December 31, 2022, assets no longer outstanding Year ended December (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE Assets Write-downs Loans [1] $ - $ - $ 11,215 $ 11,215 $ (2,067) Other real estate owned [2] - - 3,992 3,992 (1,026) Other foreclosed assets [2] - - 13 13 (1) Long-lived assets held-for-sale [3] - - 1,178 1,178 (2,155) Total assets measured $ - $ - $ 16,398 $ 16,398 $ (5,249) [1] Relates mainly to certain impaired collateral dependent loans. derived from appraisals that take into consideration prices excluded from the reported fair value amount. [2] Represents the fair value of foreclosed real estate and excluded from the reported fair value amount. [3] Represents the fair value of long-lived assets held-for-sale Year ended December (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE Assets Write-downs Loans [1] $ - $ - $ 21,167 $ 21,167 $ (3,721) Other real estate owned [2] - - 7,727 7,727 (1,579) Other foreclosed assets [2] - - 68 68 (33) Long-lived assets held-for-sale [3] - - 9,007 9,007 (5,320) Trademark [4] - - 156 156 (5,404) Total assets measured $ - $ - $ 38,125 $ 38,125 $ (16,057) [1] Relates mainly to certain impaired collateral dependent loans. derived from appraisals that take into consideration prices excluded from the reported fair value amount. [2] Represents the fair value of foreclosed real estate and excluded from the reported fair value amount. [3] Represents the fair value of long-lived assets held-for-sale [4] Represents the fair value of a trademark due to a write-down Year ended December (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE Assets Write-downs Loans [1] $ - $ - $ 74,511 $ 74,511 $ (15,290) Loans held-for-sale [2] - - 2,738 2,738 (1,311) Other real estate owned [3] - - 20,123 20,123 (3,325) Other foreclosed assets [3] - - 116 116 (148) ROU assets [4] - - 446 446 (15,920) Leasehold improvements [4] - - 126 126 (2,084) Total assets measured $ - $ - $ 98,060 $ 98,060 $ (38,078) [1] Relates mostly to certain impaired collateral dependent loans. is derived from appraisals that take into consideration excluded from the reported fair value amount. [2] Relates to a quarterly valuation on loans held-for-sale. [3] Represents the fair value of foreclosed real estate and excluded from the reported fair value amount. [4] The impairment was measured based on the sublease Metro Branch network. The following tables present the changes in Level ended December 31, 2022, 2021, and 2020. Year ended December MBS Other classified classified CMOs MBS Other as debt as debt classified classified securities securities securities as trading as trading classified as Mortgage available- available- account debt account debt trading account servicing Total Contingent Total (In thousands) for-sale for-sale securities securities debt securities rights assets Consideration liabilities Balance at January 1, $ 826 $ - $ 198 $ - $ 280 $ 121,570 $ 122,874 $ (9,241) $ (9,241) Gains (losses) included in earnings - - (2) 4 (73) 166 95 9,241 9,241 Gains (losses) included in OCI (15) - - - - - (15) - - Additions - 1,000 5 211 - 6,614 7,830 - - Settlements (100) - (88) - - - (188) - - Balance at December 31, 2022 $ 711 $ 1,000 $ 113 $ 215 $ 207 $ 128,350 $ 130,596 $ - $ - Changes in unrealized gains (losses) included in earnings relating to assets still held at December 31, 2022 $ - $ - $ (2) $ 4 $ (23) $ 11,964 $ 11,943 $ - $ - Year ended December MBS Other classified CMOs securities as debt classified classified securities as trading as trading Mortgage available- account debt account debt servicing Total Contingent Total (In thousands) for-sale securities securities rights assets Consideration liabilities Balance at January 1, 2021 $ 1,014 $ 278 $ 381 $ 118,395 $ 120,068 $ - $ - Gains (losses) included in earnings - (1) (101) (10,216) (10,318) - - Gains (losses) included in OCI (13) - - - (13) - - Additions - 29 - 13,391 13,419 (9,241) (9,241) Settlements (175) (107) - - (282) - - Balance at December 31, 2021 $ 826 $ 198 $ 280 $ 121,570 $ 122,874 $ (9,241) $ (9,241) Changes in unrealized gains (losses) included in earnings relating to assets still held at December 31, 2021 $ - $ (1) $ (45) $ 6,410 $ 6,364 $ - $ - Year ended December MBS Other classified CMOs securities as debt classified classified securities as trading as trading Mortgage available- account debt account debt servicing Total (In thousands) for-sale securities securities rights assets Balance at January 1, $ 1,182 $ 530 $ 440 $ 150,906 $ 153,058 Gains (losses) included in earnings - (1) (59) (42,055) (42,115) Gains (losses) included in OCI (18) - - - (18) Additions - 4 - 9,544 9,548 Settlements (150) (255) - - (405) Balance at December 31, 2020 $ 1,014 $ 278 $ 381 $ 118,395 $ 120,068 Changes in unrealized gains (losses) included in earnings held at December 31, 2020 $ - $ - $ 27 $ (19,327) $ (19,300) Gains and losses (realized and 3 assets and liabilities included in the previous 2022 2021 2020 Total Changes in unrealized Total Changes in unrealized Total Changes in unrealized gains (losses) gains (losses) gains (losses) gains (losses) gains (losses) gains (losses) included relating to assets still included relating to assets still included relating to assets still (In thousands) in earnings held at reporting date in earnings held at reporting date in earnings held at reporting date Mortgage banking activities $ 166 $ 11,964 $ (10,216) $ 6,410 $ (42,055) $ (19,327) Trading account (loss) profit (71) (21) (102) (46) (60) 27 Other operating income 9,241 - - - - - Total $ 9,336 $ 11,943 $ (10,318) $ 6,364 $ (42,115) $ (19,300) The following instruments, excluding those instruments of prior transactions and/or unadjusted third-party pricing Fair value at (In thousands) 2022 Valuation technique Unobservable inputs Weighted average (range) [1] CMO's - trading $ 113 Discounted cash flow model Weighted average life 0.4 0.1 0.6 Yield 4.9 % ( 4.9 % - 5.4 %) Prepayment speed 10.2 % ( 9.1 % - 32 %) Other - trading $ 207 Discounted cash flow model Weighted average life 2.5 Yield 12.0% Prepayment speed 10.8% Loans held-in-portfolio $ 5,087 [2] External appraisal Haircut applied on external appraisals 8.3 % ( 5.0 % - 10.4 %) Other real estate owned $ 528 [3] External appraisal Haircut applied on external appraisals 18.4 % ( 5.0 % - 35 %) [1] Weighted average of significant unobservable inputs [2] Loans held-in-portfolio in which haircuts were not applied [3] Other real estate owned in which haircuts were not applied Fair value at (In thousands) 2021 Valuation technique Unobservable inputs Weighted average (range) [1] CMO's - trading $ 198 Discounted cash flow model Weighted average life 0.8 0.4 1 Yield 3.6 % ( 3.6 % - 4.1 %) Prepayment speed 11.4 % ( 10.1 % - 17.2 %) Other - trading $ 280 Discounted cash flow model Weighted average life 2.9 Yield 12.0% Prepayment speed 10.8% Loans held-in-portfolio $ 20,041 [2] External appraisal Haircut applied on external appraisals 5 .0% Other real estate owned $ 3,631 [3] External appraisal Haircut applied on external appraisals 22.3 % ( 5.0 % - 35.0 %) [1] Weighted average of significant unobservable inputs [2] Loans held-in-portfolio in which haircuts were not applied [3] Other real estate owned in which haircuts were not applied Effective the fourth quarter 2021, the mortgage Note 11 to the Consolidated Financial Statements for additional information on The significant unobservable inputs used in the fair value measurement of the Corporation’s collateralized mortgage obligations and interest-only collateralized mortgage obligation (reported as “other”), which are classified in the “trading” category, are yield, constant prepayment rate, and weighted average life. Significant increases (decreases) in any of those inputs in isolation would result in significantly lower (higher) fair value measurement. Generally, a change in the assumption used for the constant prepayment rate will generate a directionally opposite change in the weighted average life. For example, as the average life is reduced by a higher constant prepayment rate, a lower yield will be realized, and when there is a reduction in the constant prepayment rate, the average life of these collateralized mortgage obligations will extend, thus resulting in a higher yield. The significant unobservable inputs used in the fair value measurement of the Corporation’s mortgage servicing rights are constant prepayment rates and discount rates. Increases in interest rates may result in lower prepayments. Discount rates vary according to products and / or portfolios depending on the perceived risk. Increases in discount rates result in a lower fair value measurement . Following is disclosure requirements exclude certain financial instruments and all amounts of the financial instruments disclosed do Trading account debt securities and debt securities available-for-sale ● maturity treasury curve. high volume of trades and pricing based on those ● agency securities. The U.S. agency securities are classified as Level ● include inputs used in the quotes, benchmark curves including but not such bonds are classified as Level 2. ● value adjusted spread. The priced using an internally-prepared pricing matrix with quoted prices from local brokers dealers. These particular MBS are classified as Level 3. ● theoretical incorporates assumptions, CMOs, due credit information and cash flows. ● instruments, these securities are classified as Level ● corporate securities, quoted prices for these security types are obtained from broker dealers. Given that the quoted prices are for similar instruments or do not trade in highly liquid markets, fair classified as Level 3. Equity securities Equity Closed-end funds are as investors can sell their shares continually to the fund and are priced at NAV. securities that readily determinable fair value and is under an investment Mortgage servicing rights Mortgage discounted cash market assumptions, discount economic factors. nature of certain valuation inputs, the MSRs are Derivatives Interest observable interest rate benchmark, such value contracts or determined using internally-developed models that entity that probability of default. Contingent consideration liability The fair period, was This contingent consideration is classified as Level Loans held-in-portfolio that are collateral dependent The impairment is prices These collateral dependent loans are classified as Level Loans measured at fair value pursuant to lower Loans measured at fair value on a nonrecurring basis pursuant to lower prices estimates. These loans are classified as Level 3. Other real estate owned and other foreclosed assets Other assets include primarily automobiles appraisal, broker price opinion, or an internal adjustments. ROU assets and leasehold improvements The impairment was measured based on the sublease rental value of PB’s New York Metro Branch network. Long-lived assets held-for-sale The carrying amount of the fair value less cost to sell. These long-lived Trademark The write-down on impairment of a trademark was based on the classified as Level 3. |
Fair value of financial instrum
Fair value of financial instruments | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures | |
Fair Value of Financial Instruments | Note 29 – Fair value of financial instruments The fair between available, fair values have been estimated using present best judgment with respect to current economic conditions, including discount rates, estimates of future cash flows, and prepayment assumptions. Many of these in actual transactions. The December 31, 2021, as certain Corporation’s fee value as the fair values for each class of financial assets and The following tables present the the fair estimate of the underlying value of the Corporation. December 31, 2022 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Assets: Cash and due from banks $ 469,501 $ 469,501 $ - $ - $ - $ 469,501 Money market investments 5,614,595 5,607,937 6,658 - - 5,614,595 Trading account debt securities, excluding [1] 27,723 13,069 14,119 535 - 27,723 Debt securities available-for-sale [1] 17,804,374 1,908,589 15,894,074 1,711 - 17,804,374 Debt securities held-to-maturity: U.S. Treasury securities $ 8,453,467 $ - $ 8,372,601 $ - $ - $ 8,372,601 Obligations of Puerto Rico, States and political subdivisions 59,010 - - 61,617 - 61,617 Collateralized mortgage obligation-federal agency 19 - - 19 - 19 Securities in wholly owned statutory business trusts 5,959 - 5,959 - - 5,959 Total debt securities $ 8,518,455 $ - $ 8,378,560 $ 61,636 $ - $ 8,440,196 Equity securities: FHLB stock $ 65,861 $ - $ 65,861 $ - $ - $ 65,861 FRB stock 96,206 - 96,206 - - 96,206 Other investments 33,787 - 29,302 4,966 330 34,598 Total equity securities $ 195,854 $ - $ 191,369 $ 4,966 $ 330 $ 196,665 Loans held-for-sale $ 5,381 $ - $ - $ 5,404 $ - $ 5,404 Loans held-in-portfolio 31,357,467 - - 29,366,365 - 29,366,365 Mortgage servicing rights 128,350 - - 128,350 - 128,350 Derivatives 19,229 - 19,229 - - 19,229 December 31, 2022 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Liabilities: Deposits: Demand deposits $ 54,445,825 $ - $ 54,445,825 $ - $ - $ 54,445,825 Time deposits 6,781,402 - 6,464,943 - - 6,464,943 Total deposits $ 61,227,227 $ - $ 60,910,768 $ - $ - $ 60,910,768 Assets sold under agreements to repurchase $ 148,609 $ - $ 148,566 $ - $ - $ 148,566 Other short-term borrowings [2] 365,000 - 365,000 - - 365,000 Notes payable: FHLB advances $ 389,282 $ - $ 361,951 $ - $ - $ 361,951 Unsecured senior debt securities 299,109 - 300,027 - - 300,027 Junior subordinated deferrable interest debentures (related to trust preferred securities) 198,319 - 173,938 - - 173,938 Total notes payable $ 886,710 $ - $ 835,916 $ - $ - $ 835,916 Derivatives $ 17,000 $ - $ 17,000 $ - $ - $ 17,000 [1] Refer to Note 28 to the Consolidated Financial Statements [2] Refer to Note 17 to the Consolidated Financial Statements December 31, 2021 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Assets: Cash and due from banks $ 428,433 $ 428,433 $ - $ - $ - $ 428,433 Money market investments 17,536,719 17,530,640 6,079 - - 17,536,719 Trading account debt securities, excluding [1] 29,711 6,530 22,703 478 - 29,711 Debt securities available-for-sale [1] 24,968,269 - 24,967,443 826 - 24,968,269 Debt securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions $ 65,380 $ - $ - $ 77,383 $ - $ 77,383 Collateralized mortgage 25 - - 25 - 25 Securities in wholly owned statutory business trusts 5,960 - 5,960 - - 5,960 Total debt securities $ 71,365 $ - $ 5,960 $ 77,408 $ - $ 83,368 Equity securities: FHLB stock $ 59,918 $ - $ 59,918 $ - $ - $ 59,918 FRB stock 96,217 - 96,217 - - 96,217 Other investments 33,842 - 32,429 3,704 77 36,210 Total equity securities $ 189,977 $ - $ 188,564 $ 3,704 $ 77 $ 192,345 Loans held-for-sale $ 59,168 $ - $ - $ 59,885 $ - $ 59,885 Loans held-in-portfolio 28,545,191 - - 27,489,583 - 27,489,583 Mortgage servicing rights 121,570 - - 121,570 - 121,570 Derivatives 26,093 - 26,093 - - 26,093 December 31, 2021 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Liabilities: Deposits: Demand deposits $ 60,292,939 $ - $ 60,292,939 $ - $ - $ 60,292,939 Time deposits 6,712,149 - 6,647,301 - - 6,647,301 Total deposits $ 67,005,088 $ - $ 66,940,240 $ - $ - $ 66,940,240 Assets sold under agreements to repurchase $ 91,603 $ - $ 91,602 $ - $ - $ 91,602 Other short-term borrowings [2] 75,000 - 75,000 - - 75,000 Notes payable: FHLB advances $ 492,429 $ - $ 496,091 $ - $ - $ 496,091 Unsecured senior debt securities 297,842 - 319,296 - - 319,296 Junior subordinated deferrable interest debentures (related to trust preferred securities) 198,292 - 201,879 - - 201,879 Total notes payable $ 988,563 $ - $ 1,017,266 $ - $ - $ 1,017,266 Derivatives $ 22,878 $ - $ 22,878 $ - $ - $ 22,878 Contingent consideration $ 9,241 $ - $ - $ 9,241 $ - $ 9,241 [1] Refer to Note 28 to the Consolidated Financial Statements [2] Refer to Note 17 to the Consolidated Financial Statements The 10.5 9.5 billion, respectively, credit at 31 paid in fees charged to enter into those agreements, are |
Employee benefits
Employee benefits | 12 Months Ended |
Dec. 31, 2022 | |
Employee benefits | |
Pension and postretirement benefits | Note 30 – Employee benefits Certain employees of BPPR are covered by three Retirement Plan and two Restoration Plans (the and final average compensation. The Pension benefit formula retirement age under funding standards subject to restore benefits Puerto Rico arrangements. In Plan”). reach retirement age while working for BPPR. The Corporation’s funding policy is to make annual contributions to the plans, when necessary, in amounts which fully provide for all benefits as they become due under the plans. The Corporation’s pension fund investment strategy to participants. A well defined internal structure has that is targeted to meet all international equities and fixed income. Equity investments include various types of stock and index funds. Also, this category income mortgage-backed securities pension discretion, subject into derivative transactions, unless approved by the The invested or reflecting investments by asset annual basis and if market, actuarial and economic The ranges, by asset category, are summarized in the table below. Minimum allotment Maximum allotment 2022 2021 Equity 0 % 70 % 27 % 30 % Debt securities 0 % 100 % 69 % 67 % Popular related securities 0 % 5 % 2 % 2 % Cash and cash equivalents 0 % 100 % 2 % 1 % The following table sets and 2021. Investments value hierarchy, investments in certain government invest in government obligations that are measured 2022 2021 (In thousands) Level 1 Level 2 Level 3 Measured at NAV Total Level 1 Level 2 Level 3 Measured at NAV Total Obligations of the U.S. Government, its agencies, states and political subdivisions $ - $ 8,113 $ - $ 130,397 $ 138,510 $ - $ 9,259 $ - $ 188,377 $ 197,636 Corporate bonds and debentures - 268,641 - 6,291 274,932 - 375,875 - 8,485 384,360 Equity securities - Common Stock 32,906 - - - 32,906 41,414 - - - 41,414 Equity securities - ETF's 51,836 20,276 - - 72,112 111,365 25,446 - - 136,811 Foreign commingled trust funds - - - 64,630 64,630 - - - 82,912 82,912 Mutual fund - 3,471 - 22,106 25,577 - 5,262 - - 5,262 Private equity investments - - - - - - - 56 - 56 Cash and cash equivalents 7,637 - - - 7,637 7,523 - - - 7,523 Accrued investment income - - 3,581 - 3,581 - - 4,510 - 4,510 Total assets $ 92,379 $ 300,501 $ 3,581 $ 223,424 $ 619,885 $ 160,302 $ 415,842 $ 4,566 $ 279,774 $ 860,484 The closing prices reported in the active markets Following is a description of the valuation methodologies ● Government and its agencies obligations are based on securities. U.S. credit quality value. Rulemaking Board (“MSRB”) These securities are classified as Level 2, except for ● in the active market in c orporate bond funds that are measured at NAV. ● and high liquidity are classified as Level 1. ● market. Highly liquid ETF’s are classified as Level 1 while ● ● Level 2. ● recorded at its net realizable value which is affected by the changes in the fair market value of the investments held in the fund. This fund is classified as Level 3. ● since it is available on demand or due to ● Since there is a lack of observable inputs The preceding valuation methods may produce a fair value calculation that may not be indicative of net realizable value or of future fair values. Furthermore, although the plan believes its valuation methods are appropriate and consistent with other market participants, the result in a different fair value measurement at the reporting The following table presents the change in Level (In thousands) 2022 2021 Balance at beginning of year $ 4,566 $ 3,917 Purchases, sales, issuance and settlements (net) (985) 649 Balance at end of year $ 3,581 $ 4,566 There were no years ended no December 31, 2022 and 2021. Information on the shares of common stock held by (In thousands, except number of shares information) 2022 2021 Shares of Popular, Inc. common stock 171,931 167,182 Fair value of shares of Popular, Inc. common $ 11,402 $ 13,716 Dividends paid on shares of Popular, $ 355 $ 280 The following table presents the components of net Pension Plans OPEB Plan (In thousands) 2022 2021 2020 2022 2021 2020 (in thousands) Service cost $ - $ - $ - $ 485 $ 642 $ 713 Other operating expenses: Interest cost 19,199 15,993 23,389 3,931 3,573 4,913 Expected return on plan assets (35,388) (38,679) (38,104) - - - Recognized net actuarial loss 15,644 18,876 20,880 - 1,873 567 Net periodic benefit cost $ (545) $ (3,810) $ 6,165 $ 4,416 $ 6,088 $ 6,193 Other Adjustments - - - 60 - - Total benefit cost $ (545) $ (3,810) $ 6,165 $ 4,476 $ 6,088 $ 6,193 The following table sets forth the aggregate status of the plans and the amounts recognized in the consolidated financial statements at December 31, 2022 and 2021. Pension Plans OPEB Plan (In thousands) 2022 2021 2022 2021 Change in benefit obligation: Benefit obligation at beginning of year $ 851,471 $ 914,353 $ 159,958 $ 179,210 Service cost - - 485 642 Interest cost 19,199 15,993 3,931 3,573 Actuarial (gain)/loss [1] (194,473) (34,297) (39,479) (17,286) Benefits paid (48,022) (44,578) (6,619) (6,181) Other adjustments - - 60 - Benefit obligation at end of year $ 628,175 $ 851,471 $ 118,336 $ 159,958 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 860,484 $ 878,785 $ - $ - Actual return on plan assets (192,807) 26,049 - - Employer contributions 230 228 6,619 6,181 Benefits paid (48,022) (44,578) (6,619) (6,181) Fair value of plan assets at end of year $ 619,885 $ 860,484 $ - $ - Funded status of the plan: Benefit obligation at end of year $ (628,175) $ (851,471) $ (118,336) $ (159,958) Fair value of plan assets at end of year 619,885 860,484 - - Funded status at year end $ (8,290) $ 9,013 $ (118,336) $ (159,958) Amounts recognized in accumulated other comprehensive Net loss/(gain) 243,434 225,356 (26,486) 12,993 Accumulated other comprehensive loss (AOCL) $ 243,434 $ 225,356 $ (26,486) $ 12,993 Reconciliation of net (liabilities) assets: Net liabilities at beginning of year $ 9,013 $ (35,568) $ (159,958) $ (179,210) Amount recognized in AOCL at beginning of year, 225,356 265,899 12,993 32,152 Amount prepaid at beginning of year 234,369 230,331 (146,965) (147,058) Total benefit 545 3,810 (4,476) (6,088) Contributions 230 228 6,619 6,181 Amount prepaid at end of year 235,144 234,369 (144,822) (146,965) Amount recognized in AOCL (243,434) (225,356) 26,486 (12,993) Net asset/(liabilities) at end of year $ (8,290) $ 9,013 $ (118,336) $ (159,958) [1] For 2022, significant components of the Pension Plans single weighted-average discount rates partially offset the actuarial gain that change the benefit obligation end which was lower than expected partially offset the health care industry. related to an increase in the single weighted-average discount Plans significant components of the actuarial gain that change capita claim assumption at year-end which was lower than plans changed from age-based per capita cost to cost that The following table presents the change in accumulated other 31, 2022 and 2021. (In thousands) Pension Plans OPEB Plan 2022 2021 2022 2021 Accumulated other comprehensive loss at beginning of year $ 225,356 $ 265,899 $ 12,993 $ 32,152 Increase (decrease) in AOCL: Recognized during the year: Amortization of actuarial losses (15,644) (18,876) - (1,873) Occurring during the year: Net actuarial (gains)/losses 33,722 (21,667) (39,479) (17,286) Total (decrease) increase 18,078 (40,543) (39,479) (19,159) Accumulated other comprehensive loss at end of year $ 243,434 $ 225,356 $ (26,486) $ 12,993 The Corporation estimates components underlying projected cash flows. To expected cash flows for years ended December 31, 2022 The following and net periodic benefit cost for the plans: Pension Plan OPEB Plan Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31: 2022 2021 2020 2022 2021 2020 Discount rate for benefit obligation 2.79 2.83 % 2.41 2.48 % 3.22 3.27 % 2.94 % 2.65 % 3.38 % Discount rate for service cost N/A N/A N/A 3.21 % 3.09 % 3.72 % Discount rate for interest cost 2.3 0 - 2.33 % 1.76 1.8 0 % 2.81 2.83 % 2.51 % 2.03 % 2.98 % Expected return on plan assets 4.3 0 - 5.40 % 4.6 0 - 5.50 % 5 .00 - 5.8 0 % N/A N/A N/A Initial health care cost trend rate N/A N/A N/A 4.75 % 5.00 % 5.00 % Ultimate health care cost trend rate N/A N/A N/A 4.50 % 4.50 % 5.00 % Year that the ultimate trend N/A N/A N/A 2023 2023 2020 Pension Plans OPEB Plan Weighted average assumptions used to determine December 31: 2022 2021 2022 2021 Discount rate for benefit obligation 5.34 - 5.37 % 2.79 - 2.83 % 5.42 % 2.94 % Initial health care cost trend rate N/A N/A 7.50 % 4.75 % Ultimate health care cost trend rate N/A N/A 4.50 % 4.50 % Year that the ultimate trend N/A N/A 2035 2023 The following table presents information for plans with a projected benefit obligation and accumulated benefit obligation in excess of plan assets for the years ended December 31, Pension Plans OPEB Plan (In thousands) 2022 2021 2022 2021 Projected benefit obligation $ 628,175 $ 851,471 $ 118,336 $ 159,958 Accumulated benefit obligation 628,175 851,471 118,336 159,958 Fair value of plan assets 619,885 860,484 - - The Corporation expects to pay the following contributions (In thousands) 2023 Pension Plans $ 228 OPEB Plan $ 5,924 Benefit payments projected to be made from the (In thousands) Pension Plans OPEB Plan 2023 $ 48,472 $ 5,924 2024 45,590 6,149 2025 45,750 6,429 2026 45,847 6,754 2027 45,843 7,053 2028 - 2032 225,107 38,873 The table below presents a breakdown of the Pension Plans OPEB Plan (In thousands) 2022 2021 2022 2021 Non-current assets $ - $ 17,792 $ - $ - Current liabilities 222 227 5,779 5,959 Non-current liabilities 8,068 8,552 112,557 153,999 Savings plans The Revenue Corporation. Investments specific provisions providing these benefits in the year ended 18.7 13.3 14.0 The 1,246,519 1,279,982 ) shares $ 82.7 105 |
Net income per common share
Net income per common share | 12 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share | |
Net Income (Loss) Per Common Share | Note 31 – Net income per common share The December 31, 2022, 2021 and 2020: (In thousands, except per share information) 2022 2021 2020 Net income $ 1,102,641 $ 934,889 $ 506,622 Preferred stock dividends (1,412) (1,412) (1,758) Net income applicable to common stock $ 1,101,229 $ 933,477 $ 504,864 Average common shares outstanding 75,147,263 81,263,027 85,882,371 Average potential dilutive common shares 126,740 157,127 92,888 Average common shares outstanding - assuming dilution 75,274,003 81,420,154 85,975,259 Basic EPS $ 14.65 $ 11.49 $ 5.88 Diluted EPS $ 14.63 $ 11.46 $ 5.87 As 400 transaction (“ASR”) 3,483,942 quarter 1,582,922 delivered discount, during the term of the ASR, which amounted 78.94 . As of December 31, 231 2022, (the “August ASR Agreement”) and, in connection therewith, received an initial delivery of 2,339,241 during the third quarter of 2022 and 840,024 of shares net of discount, during the term of the ASR, which 72.66 . Potential common shares consist of shares of common stock issuable under the assumed exercise of stock options, restricted stock and issued and purchase shares of common stock at the exercise date. The difference between the number of potential common shares issued and the shares diluted potential common shares computation of dilutive earnings per share |
Revenue from contract with cust
Revenue from contract with customers | 12 Months Ended |
Dec. 31, 2022 | |
Revenue From Contract With Customer Abstract | |
Revenue From Contract With Customer Text Block | Note 32 – Revenue from contracts with customers The following table presents ended December 31, 2022, 2021 and 2020 Years ended December (In thousands) 2022 2021 2020 BPPR Popular U.S. BPPR Popular U.S. BPPR Popular U.S. Service charges on deposit accounts $ 146,073 $ 11,137 $ 151,453 $ 11,245 $ 136,703 $ 11,120 Other service fees: Debit card fees 49,297 876 47,681 956 38,685 967 Insurance fees, excluding reinsurance 40,545 5,018 40,929 3,798 35,799 2,484 Credit card fees, excluding late fees and membership 136,295 1,275 117,418 1,052 88,091 831 Sale and administration of investment products 23,553 - 23,634 - 21,755 - Trust fees 23,614 - 24,855 - 21,700 - Total revenue from [1] $ 419,377 $ 18,306 $ 405,970 $ 17,051 $ 342,733 $ 15,402 [1] The amounts include intersegment transactions of $ 5 4.1 4.3 2021 and 2020. Revenue from contracts with transferring the control obligation satisfied obligation satisfied at a point in time amount of revenue services. In determining the transaction price, the Corporation considers the effects of variable consideration. Variable consideration is included recognized will before they consideration to which it expects an agent if it does not control an agent, revenues are presented in the amount Following is a description of the nature and timing Service charges on deposit accounts Service nonsufficient fund time, Corporation is acting as principal in these transactions. Debit card fees Debit card fees include, but are not limited to, interchange based fees triggers Corporation is acting as principal in these transactions. Insurance fees Insurance fees when related date. commissions Corporation is acting the sale. Credit card fees Credit card foreign transaction fees, and returned payments activity or acting as principal in these transactions. Sale and administration of investment products Fees from investment products, asset management fees, underwriting Commission income from investment products is recognized on the trade date since clearing, trade execution, and custody services are satisfied when brokerage contracts have no fixed duration and transactions since it economic benefits of investment products. Asset management fee market and thus as principal. Underwriting fees are the broker-dealer subsidiary is lead principal. Mutual fund fees, of the fees to be services substantially the same and have the same pattern of as principal. In turn, when it acts as third-party dealer, it is acting Trust fees Trust fees and provision of obligation Revenues are recognized in manager, it has the obligation to provide the specified service to the customer and paid by the customer for the specified services. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Leases | Note 33 – Leases The These contracts generally do 0.1 32.0 years considers 20.0 obtain substantially all of the economic benefits from The Corporation Consolidated Statements of Financial Condition under the caption of other assets and other liabilities, respectively. Refer to Note 14 and liabilities. The Corporation uses the since it and subsidiaries, a credit spread is added to this rate The following table presents the undiscounted December 31, 2022 (In thousands) 2023 2024 2025 2026 2027 Later Years Total Lease Payments Less: Imputed Interest Total Operating Leases $ 29,836 $ 28,220 $ 25,301 $ 16,779 $ 11,633 $ 44,208 $ 155,977 $ (18,687) $ 137,290 Finance Leases 4,328 4,426 4,537 4,197 2,263 8,185 27,936 (3,199) 24,737 The following table presents the lease cost recognized Years ended December (In thousands) 2022 2021 2020 Finance lease cost: Amortization of ROU assets $ 2,938 $ 2,006 $ 2,215 Interest on lease liabilities 1,117 1,044 1,185 Operating lease cost 30,534 29,970 31,674 Short-term lease cost 505 647 214 Variable lease cost 124 93 51 Sublease income (37) (70) (113) Net gain recognized from sale and leaseback transaction [1] - (7,007) (5,550) Impairment of operating ROU assets [2] - - 14,805 Impairment of finance ROU assets [2] - - 1,115 Total lease cost [3] $ 35,181 $ 26,683 $ 45,596 [1] During the quarter ended September 30, 2021, the Corporation quarter ended June 30, 2020, the Corporation recognized the transactions were considered to be at fair value, no portion [2] Impairment loss recognized during the fourth quarter of realignment of PB’s New York [3] Total lease cost was included as part of other operating income. The leases. Years ended December (Dollars in thousands) 2022 2021 2020 Cash paid for amounts included in the measurement of Operating cash flows from operating leases [1] $ 29,985 $ 38,288 $ 41,650 Operating cash flows from finance leases 1,117 1,044 1,185 Financing cash flows from finance leases [1] 3,346 2,852 3,145 ROU assets obtained in exchange for new lease obligations: Operating leases [2] $ 14,564 $ 24,136 $ 14,975 Finance leases 556 - 4,510 Weighted-average remaining lease term: Operating leases 7.5 years 7.9 years 8.0 years Finance leases 8.2 years 8.3 years 8.9 years Weighted-average discount rate: Operating leases 3.0 % 2.7 % 3.0 % Finance leases 4.2 % 5.0 % 5.0 % [1] During the quarter ended March 31, 2021, the Corporation made 7.8 the closure of nine branches as a result of the strategic realignment [2] During the quarter ended September 30, 2021, the Corporation 16.8 the same amount as a result of the partial leaseback of As of December 31, 2022, the Corporation has additional operating and finance leases contracts that have not yet commenced with an undiscounted 4.1 2.2 10 20 years. |
Stock-based compensation
Stock-based compensation | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of compensation related costs sharebased payments [Abstract] | |
Stock-based Compensation | Note 34 - Stock-based compensation Incentive Plan the Corporation to issue several types of stock-based compensation to employees and directors of subsidiaries (the was in effect 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 The restricted with the compensation cost associated with the shares of restricted stock granted prior to 2021 was determined based on a two-prong vesting schedule. The first part is vested ratably over five or four years commencing at the date of grant (the “graduated vesting portion”) and the second part is vested at termination of employment after attaining 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 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 will vest ratably in equal annual installments over a period of 4 years or 3 years, depending in 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 common stock provided that the Corporation achieves certain goals during a three-year performance cycle. on Absolute Return The TSR metric is considered to be a market condition under ASC 718. fair value is determined as of the grant date and is not subsequently revised based on actual performance. metrics achieving the ROA or ROATCE 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 (ROA and 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 management. (Not in thousands) Shares Weighted-average grant date fair value Non-vested at January 1, 2020 345,365 $ 41.68 Granted 253,943 42.49 Performance Shares Quantity Adjustment (7) 48.79 Vested (234,421) 42.64 Forfeited (6,368) 44.26 Non-vested at December 31, 2020 358,512 $ 41.23 Granted 191,479 69.38 Performance Shares Quantity Adjustment 54,306 54.21 Vested (273,974) 55.11 Forfeited (8,440) 43.48 Non-vested at December 31, 2021 321,883 $ 47.98 Granted 194,791 84.29 Performance Shares Quantity Adjustment 6,947 78.02 Vested (240,033) 66.11 Forfeited (1,625) 78.86 Non-vested at December 31, 2022 281,963 $ 56.50 During 137,934 120,105 ; 213,511 ) 56,857 performance shares (2021 - 71,374 ; 2020 - 40,432 ) were awarded to management under the During 10.3 management incentive awards, 1.8 8.6 1.6 7.6 million, with 1.3 and performance shares vested was $ 12.2 20.7 of $ 3.1 recognized $ 4.8 0.4 5.8 $ 0.5 2.3 0.2 restricted 10.1 expected to be recognized over a weighted-average 1.86 The following table summarizes the restricted stock (Not in thousands) RSU Weighted-average date fair value Non-vested at January 1, 2020 - - Granted 43,866 $ 35.47 Vested (43,866) 35.47 Forfeited - - Non-vested at December 31, 2020 - - Granted 20,638 $ 78.20 Vested (20,638) 78.20 Forfeited - - Non-vested at December 31, 2021 - - Granted 25,321 $ 77.48 Vested (25,321) 77.48 Forfeited - - Non-vested at December 31, 2022 - - The forfeitable on the restricted common outstanding common stock, the Directors will For 2022, 2021 25,321 Directors (2021 - 20,638 ; 2020 - 43,866 ). 2.0 to these 0.4 1.9 0.4 1.6 million with 0.3 2022 for the Directors was $ 2.0 |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure | |
Income Taxes | Note 35 – Income taxes The components of income tax expense for the years (In thousands) 2022 2021 2020 Current income tax (benefit) expense: Puerto Rico $ 156,425 $ 69,415 $ 33,281 Federal and States 9,034 10,232 3,613 165,459 79,647 36,894 Deferred income tax expense (benefit): Puerto Rico (4,373) 179,688 69,300 Federal and States (28,756) 49,683 5,744 (33,129) 229,371 75,044 Total income tax $ 132,330 $ 309,018 $ 111,938 The reasons amount computed by applying the statutory tax rate 2022 2021 2020 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Amount % of pre-tax income Computed income tax at statutory rates $ 463,114 38 % $ 466,465 38 % $ 231,960 38 % Benefit of net tax exempt interest income (165,065) (13) (139,426) (12) (126,232) (20) Effect of income subject to preferential tax rate (86,797) (7) (11,981) (1) (10,141) (2) Deferred tax asset valuation allowance (21,469) (2) 20,932 2 15,276 2 NOL Adjustments (34,817) (3) - - - - Difference in tax rates due to multiple jurisdictions (26,887) (2) (30,719) (3) (1,903) - Unrecognized tax benefits (1,503) - (5,484) - (2,163) - State and local taxes 14,981 1 14,629 1 4,350 - Others (9,227) (1) (5,398) - 791 - Income tax expense $ 132,330 11 % $ 309,018 25 % $ 111,938 18 % For the year ended December 31, 2022, the Corporation 132.3 309.0 for the asset (“DTA”) valuation allowance of the U.S. operations amounting to $ 68.2 tax rates, primarily attributed to the gain from the Deferred income taxes reflect the financial reporting December 31 were as follows: December 31, 2022 PR US Total Deferred tax assets: Tax credits available $ 261 $ 2,781 $ 3,042 Net operating loss and other carryforward available 121,742 661,144 782,886 Postretirement and pension benefits 47,122 - 47,122 Allowance for credit losses 250,615 32,688 283,303 Accelerated depreciation 5,972 6,309 12,281 FDIC-assisted transaction 152,665 - 152,665 Intercompany deferred gains 1,548 - 1,548 Lease liability 28,290 23,521 51,811 Unrealized net loss on investment securities 265,955 23,913 289,868 Difference in outside basis from pass-through entities 40,602 - 40,602 Other temporary differences 29,285 7,815 37,100 Total gross deferred 944,057 758,171 1,702,228 Deferred tax liabilities: Intangibles 81,174 54,623 135,797 Right of use assets 26,015 20,262 46,277 Deferred loan origination fees/cost 1,076 2,961 4,037 Other temporary differences 24,884 - 24,884 Total gross deferred 133,149 77,846 210,995 Valuation allowance 137,863 402,333 540,196 Net deferred tax asset $ 673,045 $ 277,992 $ 951,037 PR US Total Deferred tax assets: Tax credits available $ 261 $ 2,781 $ 3,042 Net operating loss and other carryforward available 112,331 665,164 777,495 Postretirement and pension benefits 57,002 - 57,002 Deferred loan origination fees/cost 2,788 - 2,788 Allowance for credit losses 233,500 31,872 265,372 Deferred gains 1,642 - 1,642 Accelerated depreciation 5,246 7,422 12,668 FDIC-assisted transaction 152,665 - 152,665 Lease liability 31,211 23,894 55,105 Difference in outside basis from pass-through entities 54,781 - 54,781 Other temporary differences 38,512 8,418 46,930 Total gross deferred 689,939 739,551 1,429,490 Deferred tax liabilities: Intangibles 76,635 51,150 127,785 Unrealized net gain on investment securities 4,329 2,817 7,146 Right of use assets 29,025 20,282 49,307 Deferred loan origination fees/cost - 3,567 3,567 Other temporary differences 43,856 1,530 45,386 Total gross deferred 153,845 79,346 233,191 Valuation allowance 128,557 410,970 539,527 Net deferred tax asset $ 407,537 $ 249,235 $ 656,772 The net deferred condition as 1.0 0.7 “other assets” caption) and 2.6 825 tax subsidiaries of the Corporation. The deferred tax asset related to the NOLs and (In thousands) 2023 $ 1,363 2024 9,310 2025 13,516 2026 13,367 2027 15,202 2028 260,622 2029 111,307 2030 121,017 2031 122,324 2032 55,335 2033 10,565 2034 5,666 2035 43,121 2036 171 $ 782,886 At December 680.3 $ 402.3 278 by taxing jurisdiction. and 2021 were build-ups and the impairment by a strong economic recovery that resulted in ACL reserve releases, reversing the year 2020 build-up. year ended December 31, 2022, demonstrate financial stability for the of verifiable positive evidence, evaluated in expiration of the NOLs. financial Accordingly, partial release of its 68.2 $ 278 525 asset related 135 expiration dates the deferred tax asset for the remaining carryforward period, together differences. tax initiative, and other factors, including net income credit losses, charge offs, NPLs inflows and NPA balances. At December 31, 2022, the Corporation’s net deferred 673 The Corporation’s years period ended any evidence and such net deferred tax asset of the Puerto Rico The temporary differences, for future years. This that income negative evidence management concluded, as of the reporting date, that it is be able to realize any portion of the deferred maintained a full valuation allowance on the deferred 138 Under the Puerto Rico Internal Revenue Code, the not partnership deduction of 100 % 85 % received from other taxable domestic corporations. The Corporation’s taxes paid is based on tax sharing agreements The following table presents a reconciliation of (In millions) Balance at January 1, 2021 $ 14.8 Reduction as a result of lapse of statute of limitations (11.3) Balance at December 31, 2021 $ 3.5 Reduction as a result of lapse of statute of limitations (1.0) Balance at December 31, 2022 $ 2.5 At 2.6 (2021 - 2.8 268 448 due to the 892 2.9 that, as of report interest related to unrecognized tax benefits in income tax expense, while the penalties, if any, are reported in other operating expenses in the consolidated statements of operations. After consideration benefits, including U.S. approximately $ 4.3 5.5 The amount of current judgment about uncertain tax positions. The political subdivisions, and U.S. anticipates approximately $ 1.5 |
Supplemental disclosure on the
Supplemental disclosure on the consolidated statements of cash flows | 12 Months Ended |
Dec. 31, 2022 | |
Supplemental Cash Flow Information | |
Supplemental Disclosure on the Consolidated Statements of Cash Flows | Note 36 – Supplemental disclosure on the consolidated Additional disclosures on cash flow information and listed in the following table: (In thousands) 2022 2021 2020 Income taxes paid $ 178,808 $ 64,997 $ 13,045 Interest paid 292,491 170,442 240,342 Non-cash activities: 64,953 57,638 14,464 51,642 45,144 48,614 116,595 102,782 63,078 8,664 7,219 7,117 8,535 13,014 15,606 38,467 43,060 34,492 47,002 56,074 50,098 47,697 31,085 31,350 1,739 32,103 - 11,531 69,890 82,299 26,425 9,762 20,153 6,531,092 - - [1] 300,279 732,533 508,071 9,461 64,824 64,092 9,461 13,789 720,212 125,000 - - 6,614 13,391 9,544 9,799 19,798 24,244 17,932 35,683 29,692 28,650 - - 116,135 - - 144,785 - - [1] Includes loans securitized into trading securities and subsequently The following table provides a reconciliation of Statement of Financial Condition that sum to the total of Flows. (In thousands) December 31, 2022 December 31, 2021 December 31, 2020 Cash and due from banks $ 423,233 $ 411,346 $ 484,859 Restricted cash and due from banks 46,268 17,087 6,206 Restricted cash in money market investments 6,658 6,079 6,029 Total cash and due [2] $ 476,159 $ 434,512 $ 497,094 [2] Refer to Note 5 - Restrictions on cash and due from banks |
Segment reporting
Segment reporting | 12 Months Ended |
Dec. 31, 2022 | |
Segment reporting disclosure | |
Segment Reporting | Note 37 – Segment reporting The two 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. markets the segments serve, as well as on the products Banco Popular de Puerto Rico: The Banco Popular de BPPR, including Auto management services of Popular Asset the insurance agency and reinsurance businesses Popular U.S.: Popular U.S. reportable segment PEF. financing services through PEF. network. The Corporate group and certain of Centro Financiero BHD, León. The reportable segments are primarily conducted at market rates, resulting of operations. The tables that follow present the results of operations December 31, 2022 Banco Popular Intersegment (In thousands) de Puerto Rico Popular U.S. Eliminations Net interest income $ 1,823,517 $ 372,988 $ 3 Provision for credit losses 70,304 12,452 - Non-interest income 680,276 31,958 (547) Amortization of intangibles 1,937 1,338 - Goodwill impairment charge - 9,000 - Depreciation expense 47,003 6,919 - Other operating expenses 1,454,187 230,136 (543) Income tax expense 148,351 (25,205) - Net income $ 782,011 $ 170,306 $ (1) Segment assets $ 56,190,260 $ 11,558,280 $ (421,781) Reportable Total (In thousands) Corporate Eliminations Popular, Inc. Net interest income (expense) $ 2,196,508 $ (29,149) $ - $ 2,167,359 Provision for credit losses 82,756 274 - 83,030 Non-interest income 711,687 189,835 (4,460) 897,062 Amortization of intangibles 3,275 - - 3,275 Goodwill impairment charge 9,000 - - 9,000 Depreciation expense 53,922 1,185 - 55,107 Other operating expenses 1,683,780 80 (4,822) 1,679,038 Income tax expense 123,146 9,074 110 132,330 Net income $ 952,316 $ 150,073 $ 252 $ 1,102,641 Segment assets $ 67,326,759 $ 5,390,122 $ (5,078,964) $ 67,637,917 December 31, 2021 Banco Popular Intersegment (In thousands) de Puerto Rico Popular U.S. Net interest income $ 1,674,589 $ 321,154 $ 6 Provision for credit losses (benefit) (136,352) (56,897) - Non-interest income 565,310 24,518 (548) Amortization of intangibles 2,813 665 - Depreciation expense 46,539 7,415 - Other operating expenses 1,285,959 203,892 (544) Income tax expense 253,479 56,538 - Net income $ 787,461 $ 134,059 $ 2 Segment assets $ 64,336,681 $ 10,399,066 $ (31,528) Reportable Total (In thousands) Corporate Eliminations Popular, Inc. Net interest income (expense) $ 1,995,749 $ (38,159) $ - $ 1,957,590 Provision for credit losses (benefit) (193,249) (215) - (193,464) Non-interest income 589,280 56,535 (3,687) 642,128 Amortization of intangibles 3,478 5,656 - 9,134 Depreciation expense 53,954 1,150 - 55,104 Other operating expenses 1,489,307 (545) (3,725) 1,485,037 Income tax expense (benefit) 310,017 (1,085) 86 309,018 Net income $ 921,522 $ 13,415 $ (48) $ 934,889 Segment assets $ 74,704,219 $ 5,458,718 $ (5,065,038) $ 75,097,899 December 31, 2020 Banco Popular Intersegment (In thousands) de Puerto Rico Popular U.S. Net interest income $ 1,593,599 $ 302,517 $ 11 Provision for credit losses 210,955 81,486 - Non-interest income 445,893 24,285 (553) Amortization of intangibles 5,634 665 - Depreciation expense 47,890 9,558 - Other operating expenses 1,169,816 228,406 (544) Income tax expense 106,211 7,411 - Net income (loss) $ 498,986 $ (724) $ 2 Segment assets $ 55,353,626 $ 10,255,954 $ (33,935) Reportable Total (In thousands) Corporate Eliminations Popular, Inc. Net interest income (expense) $ 1,896,127 $ (39,514) $ - $ 1,856,613 Provision for credit losses 292,441 95 - 292,536 Non-interest income 469,625 46,442 (3,755) 512,312 Amortization of intangibles 6,299 98 - 6,397 Depreciation expense 57,448 1,004 - 58,452 Other operating expenses 1,397,678 (1,212) (3,486) 1,392,980 Income tax expense (benefit) 113,622 (1,560) (124) 111,938 Net income $ 498,264 $ 8,503 $ (145) $ 506,622 Segment assets $ 65,575,645 $ 5,214,439 $ (4,864,084) $ 65,926,000 Geographic Information The following information presents selected its business. The BPPR operations lending December 31, 2022, BPPR participated 184 35 total 1.2 589 During the year ended December 31, 2022, the 67.8 50.6 $ 55.3 accounts and The BPPR segment 46.6 45.4 44.2 and British Virgin Islands. (In thousands) 2022 2021 2020 Revenues: [1] Puerto Rico $ 2,505,988 $ 2,136,481 $ 1,921,207 United States 480,545 390,201 376,529 Other 77,888 73,036 71,189 Total consolidated $ 3,064,421 $ 2,599,718 $ 2,368,925 [1] Total revenues include of debt securities, net gain, including impairment on equity securities, loans, including valuation adjustments on loans held-for-sale, Selected Balance Sheet Information (In thousands) 2022 2021 2020 Puerto Rico Total assets $ 53,541,427 $ 63,221,282 $ 54,143,954 Loans 20,884,442 19,770,118 20,413,112 Deposits 51,138,790 57,211,608 47,586,880 United States Total assets $ 12,718,775 $ 10,986,055 $ 10,878,030 Loans 10,643,964 8,903,493 8,396,983 Deposits 8,182,702 7,777,232 7,672,549 Other Total assets $ 1,377,715 $ 890,562 $ 904,016 Loans 554,744 626,115 674,556 Deposits [1] 1,905,735 2,016,248 1,606,911 [1] Represents deposits from BPPR operations located in the |
Popular, Inc. (Holding company
Popular, Inc. (Holding company only) financial information | 12 Months Ended |
Dec. 31, 2022 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Popular, Inc (Holding Company Only) Financial Information | Note 38 - Popular, Inc. (holding company only) financial information The following 31, 2022 and 2021, and the results of its Condensed Statements of Condition December 31, (In thousands) 2022 2021 ASSETS Cash and due from banks (includes $ 101,753 79,660 )) $ 101,753 $ 79,660 Money market investments 77,180 205,646 Debt securities held-to-maturity, 3,125 securities from statutory trusts (2021 - $ 3,125 )) [1] 3,125 3,125 Equity securities, at lower of cost or realizable value 18,835 19,711 Investment in BPPR and subsidiaries, at equity 2,120,503 3,858,701 Investment in Popular North America and subsidiaries, at 1,879,123 1,834,931 Investment in other non-bank subsidiaries, at equity 335,552 288,736 Other loans 28,196 29,445 Less - Allowance for credit losses 370 96 Premises and equipment 6,411 5,684 Investment in equity method investees 5,350 114,955 Other assets (includes $ 6,115 6,802 )) 34,841 32,810 Total assets $ 4,610,499 $ 6,473,308 LIABILITIES AND STOCKHOLDERS' EQUITY Notes payable $ 403,257 $ 401,990 Other liabilities (includes $ 2,764 6,591 )) 113,772 101,923 Stockholders’ equity 4,093,470 5,969,395 Total liabilities and $ 4,610,499 $ 6,473,308 [1] Refer to Note 18 to the consolidated financial statements Condensed Statements of Operations Years ended December 31, (In thousands) 2022 2021 2020 Income: Dividends from subsidiaries $ 458,000 $ 792,000 $ 586,000 Interest income (includes $ 680 828 ; 2020 - $ 2,290 )) 2,846 4,303 4,949 Earnings from investments in equity method investees 15,688 29,387 17,841 Other operating income 139,191 - 1 Net (loss) gain, including impairment, on equity securities (4,446) (525) 1,494 Total income 611,279 825,165 610,285 Expenses: Interest expense 26,021 36,444 38,528 Provision for credit losses (benefit) 274 (215) 95 Operating expense (income) (includes expenses for services affiliate of $ 18,414 13,546 13,140 )), net of reimbursement by subsidiaries for services provided by parent of $ 222,935 162,019 138,729 ) 223 5,432 (921) Total expenses 26,517 41,661 37,702 Income before income taxes and equity in undistributed 584,762 783,504 572,583 Income tax expense 8,723 352 17 Income before equity in undistributed earnings (losses) of subsidiaries 576,038 783,152 572,566 Equity in undistributed earnings (losses) of subsidiaries 526,603 151,737 (65,944) Net income $ 1,102,641 $ 934,889 $ 506,622 Comprehensive (loss) income, net of tax $ (1,097,218) $ 419,829 $ 866,551 Condensed Statements of Cash Flows Years ended December 31, (In thousands) 2022 2021 2020 Cash flows from operating activities: Net income $ 1,102,641 $ 934,889 $ 506,622 Adjustments to reconcile net income to net cash provided Equity in (earnings) losses of subsidiaries, net of dividends (526,603) (151,737) 65,944 Provision for credit losses (benefit) 274 (215) 95 Amortization of intangibles - 5,656 98 Net accretion of discounts and amortization of premiums and 1,250 1,241 1,233 Share-based compensation 9,440 8,895 5,770 Earnings from investments under the equity method, net (14,170) (26,360) (15,510) (Gain) loss on: Disposition of stock as part of the Evertec Transactions (137,813) - - Sale of foreclosed assets, including write-downs - 59 - Net increase in: Equity securities (339) (3,662) (5,305) Other assets (1,952) (1,970) (8,327) Net (decrease) increase in: Interest payable - (1,042) - Other liabilities 8,257 19,095 2,470 Total adjustments (661,656) (150,040) 46,468 Net cash provided by operating activities 440,985 784,849 553,090 Cash flows from investing activities: Net decrease (increase) in money market investments 129,000 (94,000) 110,000 Proceeds from calls, paydowns, maturities and redemptions - 5,601 - Net repayments on other loans 1,267 1,879 587 Capital contribution to subsidiaries (54,188) (12,900) (10,000) Return of capital from wholly owned subsidiaries 72,000 - 12,500 Return of capital from equity method investments - - 131 Proceeds from Evertec Stock Sale 219,883 - - Acquisition of premises and equipment (2,224) (1,788) (2,667) Proceeds from sale of premises and equipment 1,678 83 285 Proceeds from sale of foreclosed assets - 87 - Net cash provided by (used in) investing activities 367,416 (101,038) 110,836 Cash flows from financing activities: Payments of notes payable - (186,664) - Proceeds from issuance of common stock 13,479 10,493 15,175 Payments for repurchase of redeemable preferred stock - - (28,017) Dividends paid (161,516) (141,466) (133,645) Net payments for repurchase of common stock (631,965) (350,656) (500,705) Payments related to tax withholding for share-based compensation (5,771) (5,107) (3,394) Net cash used in financing activities (785,773) (673,400) (650,586) Net increase in cash and due from banks, and restricted 22,628 10,411 13,340 Cash and due from banks, and restricted cash at beginning 80,305 - 69,894 56,554 Cash and due from banks, and restricted cash at end of $ 102,933 $ 80,305 $ 69,894 Popular, Inc. 1.5 year ended December 3.0 2.3 1.5 (2021 2.3 2.3 53.5 0 million; 2020 0 18.5 0 12.5 income is derived from its investment in BHD. Notes payable include junior the junior subordinated December 31, 2022: Year (In thousands) 2023 $ 299,109 2024 - 2025 - 2026 - 2027 - Later years 104,148 Total $ 403,257 |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies | |
Consolidation | Principles of consolidation The transactions have been Corporation therefore, it is the primary beneficiary. Assets included in the Consolidated Statements of Financial Unconsolidated investments, in generally accounted for by the equity method unless the investor’s over proportionate share of income or loss is included Statutory business trusts that are wholly-owned by the Corporation and are in the Corporation’s Consolidated Financial Statements. |
Business combinations | Business combinations Business combinations are accounted for under the acquisition method. Under this method, assets acquired, liabilities assumed and any noncontrolling acquisition classified as an asset in fair changes completed by the Corporation for the years presented. |
Use of estimates | Use of estimates in the preparation of financial The preparation of financial requires management to make assets reporting period. Actual results could differ from those estimates. |
Fair value measurements | Fair value measurements The Corporation determines the fair values of its for minimize received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly may observable market-based inputs or unobservable inputs not corroborated values. The transactions are transactions are not not orderly should be given considered available to other transactions that are known to be orderly. |
Investments securities | Investment securities Investment securities are classified in four categories and ● maturity and reported debt securities held-to-maturity. The Corporation has established a methodology to estimate credit losses which qualitative factors, expected amount is deemed uncollectible, based on the information considered to develop expected credit losses through the life of the collateralized by nd factors are stressed, historical reverting, transfer held-to-maturity securities without calling into question its nonrecurring or unusual event that could not have ● included in non-interest income. ● amortized cost which are not related to estimated credit losses are recorded through other comprehensive income or loss, net of security, recorded through an The ACL is established for the expected credit losses over the remaining term of debt security. The Corporation’s portfolio of These agencies, and have a and no credit performance on a for-sale are written-off when to realized securities in the Consolidated Statements of Operations. ● available fair changes in Corporation (“FHLB”) stock, is included in this category, and their realizable value equals their cost. Unrealized and realized gains and losses and any impairment on equity securities are included in net gain (loss), including impairment on equity securities in the Consolidated Statements income. The method basis. |
Derivatives financial instruments | Derivative financial instruments All derivatives are recognized on the Statements of Financial Condition at value arrangement nor to offset the fair value amounts recognized for the return cash collateral (a payable) arising from the For comprehensive income/(loss) and subsequently impacts earnings. For free-standing derivative instruments, Prior hedged includes forecasted transactions basis, Hedge accounting terminated, when it is unlikely that a forecasted transaction will hedge accounting is discontinued the derivative continues For non-exchange similar techniques for which the determination of The fair value of derivative instruments considers The Corporation obtains or pledges collateral in |
Loans | Loans Loans future, or loan, foreseeable future may change based on changes in these conditions. When a decision is made to sell or securitize a loan that not originated or Due to changing market conditions or other change, between loans held-for-sale and held-in-portfolio Purchased discounts are included in the determination of fair Loans held-for-sale are stated unearned income, and fair value determined, generally in similar loans, assumptions deferred origination fees and costs, which are recognized in earnings related already been provided for in the ACL, an additional provision for credit losses is recorded. Subsequent to reclassification to held-for- sale, the amount, in the determination of net income (loss) for Loans held-in-portfolio deferred fees and the method over the term of the loan as an adjustment The past due status of a loan is determined in accordance with its past due when either interest or principal remains Non-accrual loans are those loans on which the previously method or expects repayment of the remaining contractual principal Recognition of interest income on commercial and construction loans is discontinued when the loans are 90 days or more in arrears on payments of principal or interest or when other factors indicate that the collection of principal and interest is of dependent generally recognized. mortgage portion of a the recognition the U.S. these loans is insured. Recognition of interest income when the consumer loans, financing is ceased when are 120 consumer overdrafts are generally charged-off no later than A loan classified loan continues payments (at least six months of sustained performance after the modification annual payments)) foreseeable future. |
Lease financing | Lease financing The method of accounting ASC Topic receivable. amounts outstanding. Finance lease origination adjustment to the interest yield. Revenue for other leases is recognized as it becomes |
Loans acquired with deteriorated credit quality | Loans acquired with deteriorated credit quality Purchased credit quality since origination. Upon the acquisition of a PCD loan, the Corporation makes an estimate term addition to the loan purchase price. The amount of the purchased over the life of interest charge nonaccrual policies as non-PCD loans. Modifications of PCD loans that meet the definition of such following the same processes as non-PCD loans. Refer to Note 8 to the Consolidated Financial Statements credit quality. |
Accrued interest receivable | Accrued interest receivable The Corporation has elected the Corporation’s status. |
Allowance for credit losses - loans portfolio | Allowance for credit losses – loans portfolio The Corporation establishes an ACL of the loans, adjusted for expected prepayments. An ACL is recognized for all loans including originated and purchased loans, since inception, with recorded recoveries are credited to the ACL. The estimating methodology, management procedures weights include baseline, optimistic and pessimistic scenarios. The weights applied are subject to evaluation on a quarterly basis as part adjustment framework. The judgment. portfolios and product supportable period of 2 years for PR portfolios, gradually the impacted period gradually reverting, over a 3-years horizon, The determined lending prepayments, and other loan part expectations. In information. delinquency status, risk ratings, interest rate, loan The ACL within the quantitative modeling framework, and model imprecision. In order the quantitative model. The into there are sectors qualitative adjustments qualitative adjustment mainly impacts consumer portfolios. The foreclosure is provided collateral dependent loans based on appraisals, which may be adjusted due to their market conditions to reflect the expected change in In discounting concessions is combined with the expected credit losses generated by the quantitative loss models in order to arrive at a result, the ACL related to TDRs is impacted by The Credit Cards term behaviors were revolvers and customers that have exhibited mixed transactor/revolver behavior. Transactors are defined as active accounts without any exposure at loan level default and loss severity modeling to arrive |
Troubled debt restructuring | Troubled debt restructurings A restructuring agreement between the Corporation and the in the collection. amounts collateral, therefore, all factors that changed are considered to determine if a concession was granted, including the change in the fair value of the judgment. Indicators that the debtor is experiencing financial difficulties default on any of its without the modification; (ii) to process of being delisted, encompass service the and effective interest rate equal to the current market interest rate for similar debt for a non-troubled debtor. The identification of TDRs is critical in the determination of the adequacy of the ACL. A loan Note interest. Note B represents the portion of the original loan that may be considered uncollectible and charged-off, but the obligation is not forgiven accrual status are met. The modified loans are Refer determination of the ACL. |
Reserve for unfunded commitments | Reserve for unfunded commitments The Corporation facility. reserve commitments reserve for unfunded commitments are years ended December 31, 2022 and 2021. |
Transfers and servicing of financial assets | Transfers and servicing of financial assets The transfer which the Corporation surrenders control over the assets is accounted Topic conditions that constrain it cannot maintain effective control over the derecognizing the transferred financial Rico income accounting guidance, as sales, recognizing a deferred For transfers sold; recognizes all servicing liabilities, if earnings any gain or loss on the sale. The guidance Corporation was a debtor under the bankruptcy code. A true sale legal analysis includes several legally relevant factors, such as the nature and level of recourse to the transferor, and the nature of retained interests in the loans sold. The analytical conclusion as to a true sale court, as nature derecognition of assets is warranted. The Corporation sells mortgage loans to the Government National Mortgage Association (“GNMA”) and retains the servicing rights. The GNMA programs under which the delinquent loans that meet certain criteria. At the Corporation’s option, and without GNMA’s prior authorization, the Corporation may repurchase the delinquent has the the repurchase the loan. |
Servicing assets | Servicing assets The addition, undertakes an servicing servicer received are not fair value are separately presented on the Consolidated All separately recognized servicing assets are initially recognized at fair value. For subsequent Corporation method, activities in the Consolidated Statement of Operations. Contractual fair fees, which are based on a percentage of the principal balances of the collected. The fair value future net servicing cash flows, taking into consideration actual and expected loan prepayment rates, discount rates, servicing and other economic factors, which are determined |
Premises and equipment | Premises and equipment Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed on a line basis over the estimated useful life of each the respective which do not capitalized. When assets are gain or loss is reflected in earnings as realized The Corporation facilities incurred during the on a weighted the asset. Interest cost capitalized for the years ended The arrangements in its Consolidated Statements of Financial Condition within other assets and other liabilities, respectively. For finance leases, interest is recognized on the a single lease cost on ROU assets are evaluated under the guidance for impairment on sale and Note 33 to the Consolidated Financial Statements |
Impairment of long-lived assets | Impairment of long-lived assets The whenever events or changes write down for the difference between the carrying amount |
Other real estate | Other real estate Other between the carrying amount of the loan and the fair value less cost to foreclosure, any sale of these properties are credited or charged to expense in the period incurred and are included as OREO expenses. The cost of maintaining and operating such properties is expensed Updated appraisals total credit exposure. The appraisal for a commercial or construction other real estate property with a book than $1 million is updated annually and if lower Corporation requests appraisals annually. Appraisals applied are based upon can provide historical trends in the real estate market |
Goodwill and other intangible assets | Goodwill and other intangible assets Goodwill is recognized when the purchase price the purchase events or circumstances indicate possible impairment. If the Corporation would be required to record an impairment fair comparable companies and transactions, as well as discounted cash flow analysis. Goodwill impairment of operating expenses in the Consolidated Statements Other intangible assets deemed which compares the fair value with the carrying amount of the asset. In determining Corporation could limit the intangible asset’s useful life. Other periods changes in circumstances useful life are evaluated under the guidance for |
Repurchase And Resale Agreements Policy | Assets sold / purchased under agreements to repurchase Repurchase and resell agreements assets will be subsequently reacquired or resold as It is the such Corporation’s Consolidated Statements as compared to the related receivable, including accrued It securities continue to be carried on the Consolidated The Corporation may require counterparties to deposit |
Software | Software Capitalized capitalizable application development costs associated with internally-developed software. Amortization, computed on a straight-line method, is charged to operations the Consolidated Statement of Financial Condition. |
Gurantees, including indirect gurantees of indebtness of others | Guarantees, The estimated losses to be absorbed under the credit are updated by sold” information macroeconomic expectations historical estimate the recourse liability. Expected loss rates are the amount expected to be lost losses Financial Condition. Refer to Note 23 to the Consolidated |
Treasury stock | Treasury stock Treasury stock is Condition. retirement, the excess of the cost of the treasury stock over between the consideration received upon issuance and |
Income Recognition - Investment banking revenues and commissions | Revenues from contract with customers Refer contract with customers. |
Foreign exchange | Foreign exchange Assets and liabilities of foreign currency translation adjustment accumulated operating expenses. The Corporation BHD León is operations is reported in accumulated other comprehensive Refer to the disclosure of accumulated other comprehensive |
Income taxes | Income taxes The Corporation recognized in differences between financial statement and tax bases of assets and liabilities that will result in taxable or deductible future. expected to be recovered or settled. The based on the available evidence, it is more likely be Corporation appropriate consideration assessment considers, among others, reversal of existing temporary differences, the future taxable income taxable income in carryback years and tax-planning strategies. In making such that can be objectively verified. The valuation recognized in the Corporation’s financial statements or tax returns and future profitability. tax consequences represents management’s best estimate Positions taken in tax positions will be sustained upon examination by the tax authorities, assuming full knowledge of the position and all relevant facts. of unrecognized tax benefit may increase or decrease in the positions, expiration of open income tax returns due to the statute of limitations, changes in management’s judgment about the level of authorities and legislative activity. The Corporation accounts for the taxes collected from customers from revenues). Income comprehensive income, as applicable. The from cause changes in tax status, and (d) tax-deductible |
Employees' retirement and other postretirement benefits plans | Employees’ retirement and other postretirement benefit Pension costs are are based during the gains or losses. The funding policy is the particular year. The cost these benefits in the future, is accrued during The guidance for compensation pension Condition. |
Stock-based compensation | Stock-based compensation The employee share plans in ASC Subtopic 718-50. |
Comprehensive income (loss) | Comprehensive income Comprehensive income other events income (loss) is separately presented in the Consolidated |
Net income per common share | Net income per common share Basic income per common share is computed by dividing net income adjusted for preferred stock dividends, including undeclared or unpaid dividends preferred stock, by the weighted average number of takes into consideration the weighted average common shares adjusted for the effect of stock options, restricted stock, performance shares and warrants, if any, using the treasury stock method. |
Statement of cash flow | Statement of cash flows For purposes of reporting cash flows, cash includes |
New Accounting Pronouncements (
New Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies | |
New accounting pronouncements policies | Recently Adopted Accounting Standards Updates Standard Description Date of adoption Effect on the financial statements FASB ASU 2022-06, Reference Rate Reform (Topic 848) - Deferral of the Sunset Date of Topic 848 The Update 2022, which defers the sunset date of 848 from 31, guidance accounting for (or recognizing the effects of) reference rate reform on financial reporting. December 21, 2022 The the the adopted Reference Rate December 2021, as disclosed in Note 2 to Statements the The LIBOR-based 2021. FASB ASU 2021-05, Leases (Topic 842), Lessors – Certain Leases with Variable Lease Payments The 2021, which amends ASC Topic lessors those that, have direct loss would have been recognized. January 1, 2022 The the the not variable lease payments. FASB ASU 2021-04, Earnings per Share (Topic 260), Debt – Modifications and Extinguishments (Subtopic 470-50), Compensation – Stock Compensation (Topic 718), and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity- Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force) The 2021, modification freestanding option that modification EPS recognized as an adjustment to equity. January 1, 2022 The the the not written call this guidance. FASB ASU 2020-06, Debt – Debt with Conversion and other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The 2020 the and contracts amends these instruments. January 1, 2022 The Corporation adopted ASU during was adoption accelerated transaction discussed in Note 17, which was and considered share calculation. FASB ASUs Financial Instruments – Credit Losses (Topic 326) The CECL sheet exposures. CECL establishes a forward-looking methodology that reflects the expected credit losses over the lives of financial assets, based on past CECL approach with amortized financial assets credit loss January 1, adequacy of the allowance for credit losses to provide As a result of the adoption, the Corporation recorded an 315 million, and 9 which is 13 related approach. Therefore, the opening 17 related to loans balance CECL 205.8 purchased credit impaired (“PCI”) loans and, as Accounting Standards Updates Not Yet Adopted Standard Description Date of adoption Effect on the financial statements FASB ASU 2022-05, Financial Services - Insurance (Topic 944) Transition for Sold Contracts The December 2022, which entity to make of (LDTI) transition guidance by-transaction been disposal significant derecognized contract. January 1, 2023 The Corporation impacted standard since Duration Contracts (LDTI). FASB ASU 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50) Disclosure of Supplier Finance Program Obligations The September 2022, which requires to disclose information finance purchase of goods and services. January 1, 2023 The Corporation impacted standard since finance programs. FASB ASU 2022-03, Fair Value Measurement (Topic 820) Fair Value Measurement of Equity Securities Subject to Contractual Sale Restriction The 2022, restriction that prohibits the sale of an equity security is account not The disclosures for equity securities contractual sale restriction. January 1, 2024 The that pronouncement effect financial operations. FASB ASU 2022-02, Financial Instruments— Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures The 2022, guidance (“TDRs”) in Troubled and refinancing determine whether a new loan. disclosure refinancing when difficulty disclosure current-period origination for financing investments in leases. January 1, 2023 The adoption of this in modified difficulties charge Corporation be loans subject to disclosure under the new standard that the prior guidance the disclosures. eliminates the effect of the concession from a modification, for used model. estimates discontinuing the use of the DCF model to measure the concession will a $45 million, loans included interest maturity resulted the Corporation modified retrospective approach adoption this will increase, beginning balance upon adoption on January 1, 2023. Accounting Standards Updates Not Yet Adopted Standard Description Date of adoption Effect on the financial statements FASB ASU 2022-01, Derivatives and Hedging (Topic 815) – Fair Value Hedging—Portfolio Layer Method The 2022, allowing also hedged This fair closed prepayable considering when measuring those assets. January 1, 2023 The Corporation impacted standard derivatives hedges. FASB ASU 2021-08, Business Combinations (Topic 805) – Accounting for Contract Assets and Contract Liabilities from Contracts with Customers The FASB 2021, requiring liabilities arising customers with ASC instead of fair value. January 1, 2023 Upon Corporation will for recognized combinations the effective date. |
Derivative instruments and he_2
Derivative instruments and hedging activities (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies | |
Derivatives, Offsetting Fair Value Amounts, Policy | Pursuant to the Corporation’s accounting policy, the agreements allow financial collateral or the obligation to return financial |
Fair Value Measurement (Policie
Fair Value Measurement (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies | |
Fair value measurement policy | ASC Subtopic valuation techniques measurements and disclosures. The hierarchy is broken ● Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Corporation has the ability to access at since valuations are based on quoted prices that ● Level 2 - Quoted prices other than those included in Level 1 that are observable either directly or indirectly. include liabilities in market data for substantially the full term of the ● Level - Corporation’s own judgements about assumptions that The observable inputs be used when are curves, interest rates, that the financial instrument’s These adjustments include amounts that reflect counterparty credit quality, and unobservable parameters that are applied consistently. The estimated fair financial instruments. Changes in the underlying assumptions |
Revenue from contracts with cus
Revenue from contracts with customers (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies | |
Revenue recognition | Revenue from contracts with transferring the control obligation satisfied obligation satisfied at a point in time amount of revenue services. In determining the transaction price, the Corporation considers the effects of variable consideration. Variable consideration is included recognized will before they consideration to which it expects an agent if it does not control an agent, revenues are presented in the amount Following is a description of the nature and timing Service charges on deposit accounts Service nonsufficient fund time, Corporation is acting as principal in these transactions. Debit card fees Debit card fees include, but are not limited to, interchange based fees triggers Corporation is acting as principal in these transactions. Insurance fees Insurance fees when related date. commissions Corporation is acting the sale. Credit card fees Credit card foreign transaction fees, and returned payments activity or acting as principal in these transactions. Sale and administration of investment products Fees from investment products, asset management fees, underwriting Commission income from investment products is recognized on the trade date since clearing, trade execution, and custody services are satisfied when brokerage contracts have no fixed duration and transactions since it economic benefits of investment products. Asset management fee market and thus as principal. Underwriting fees are the broker-dealer subsidiary is lead principal. Mutual fund fees, of the fees to be services substantially the same and have the same pattern of as principal. In turn, when it acts as third-party dealer, it is acting Trust fees Trust fees and provision of obligation Revenues are recognized in manager, it has the obligation to provide the specified service to the customer and paid by the customer for the specified services. |
Nature of operations and basi_2
Nature of operations and basis of presentation (Table) | 12 Months Ended |
Dec. 31, 2022 | |
Nature of operations and basis of presentation [Abstract] | |
Reclassification of Other Operating Expenses | 2021 2020 Financial statement line item As reported Adjustments Adjusted As reported Adjustments Adjusted Equipment expenses $ 92,097 $ (59,178) $ 32,919 $ 88,932 $ (56,418) $ 32,514 Professional services 410,865 (284,144) 126,721 394,122 (261,708) 132,414 Technology and - 277,979 277,979 - 263,886 263,886 Processing and transactional services - 121,367 121,367 - 112,039 112,039 Communications 25,234 (11,205) 14,029 23,496 (10,266) 13,230 Other expenses 136,988 (44,819) 92,169 128,882 (47,533) 81,349 Net effect on operating expenses $ 665,184 $ - $ 665,184 $ 635,432 $ - $ 635,432 |
Business Combinations (Table)
Business Combinations (Table) | 12 Months Ended |
Dec. 31, 2022 | |
Business Combinations [Abstract] | |
Fair value of major classes of identifiable assets acquired and liabilities assumed | The following July 1, 2022. (In thousands) Fair Value Stock consideration $ 144,785 Total consideration $ 144,785 Assets: Developed technology - Software intangible assets $ 28,650 Total assets $ 28,650 Net assets acquired $ 28,650 Goodwill on acquisition $ 116,135 The assumed by PEF as of October 15, 2021. (In thousands) Fair Value Cash consideration $ 156,628 Contingent consideration 9,241 Total consideration $ 165,869 Assets: Cash and due from banks $ 800 Commercial loans 115,575 Premises and equipment 8,996 Accrued income receivable 57 Other assets 2,822 Other intangible assets 2,887 Total assets $ 131,137 Other liabilities 14,439 Total liabilities $ 14,439 Net assets acquired $ 116,698 Goodwill on acquisition $ 49,171 |
Debt securities available-for_2
Debt securities available-for-sale (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Investments [Abstract] | |
Debt Securities, Available-For-Sale | At December 31, 2022 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 4,576,127 $ 506 $ 47,156 $ 4,529,477 2.42 % After 1 to 5 years 6,793,739 - 410,858 6,382,881 1.35 After 5 to 10 years 308,854 - 40,264 268,590 1.63 Total U.S. Treasury 11,678,720 506 498,278 11,180,948 1.78 Collateralized mortgage obligations - federal agencies After 1 to 5 years 3,914 - 213 3,701 1.77 After 5 to 10 years 47,979 - 3,428 44,551 1.73 After 10 years 127,639 24 10,719 116,944 2.53 Total collateralized 179,532 24 14,360 165,196 2.30 Mortgage-backed securities After 1 to 5 years 74,328 11 3,428 70,911 2.33 After 5 to 10 years 866,757 43 58,997 807,803 2.16 After 10 years 6,762,150 932 1,184,626 5,578,456 1.61 Total mortgage-backed 7,703,235 986 1,247,051 6,457,170 1.68 Other After 1 to 5 years 1,062 - 2 1,060 3.98 Total other 1,062 - 2 1,060 3.98 Total debt securities [1] $ 19,562,549 $ 1,516 $ 1,759,691 $ 17,804,374 1.75 % [1] 11.3 servicing agreements that the secured parties are not permitted 10.3 public funds. At December 31, 2021 Gross Gross Weighted Amortized unrealized unrealized Fair average (In thousands) cost gains losses value yield U.S. Treasury securities Within 1 year $ 1,225,558 $ 13,556 $ 69 $ 1,239,045 2.33 % After 1 to 5 years 10,059,163 98,808 65,186 10,092,785 1.18 After 5 to 10 years 4,563,265 739 36,804 4,527,200 1.22 Total U.S. Treasury 15,847,986 113,103 102,059 15,859,030 1.27 Obligations of U.S. Government sponsored entities Within 1 year 70 - - 70 5.63 Total obligations of 70 - - 70 5.63 Collateralized mortgage obligations - federal agencies After 1 to 5 years 2,433 42 - 2,475 2.16 After 5 to 10 years 43,241 295 6 43,530 1.54 After 10 years 172,176 3,441 357 175,260 2.13 Total collateralized 217,850 3,778 363 221,265 2.01 Mortgage-backed securities Within 1 year 11 1 - 12 4.79 After 1 to 5 years 65,749 2,380 11 68,118 2.23 After 5 to 10 years 665,600 17,998 5 683,593 1.97 After 10 years 8,263,835 68,128 195,910 8,136,053 1.67 Total mortgage-backed 8,995,195 88,507 195,926 8,887,776 1.69 Other After 1 to 5 years 123 5 - 128 3.62 Total other 123 5 - 128 3.62 Total debt securities [1] $ 25,061,224 $ 205,393 $ 298,348 $ 24,968,269 1.42 % [1] Includes $ 22 .0 billion pledged to secure government and trust deposits, servicing agreements that the secured parties are not permitted 20.9 public funds. |
Schedule Of Aggregate Amortized Cost And Fair Value Of Afs By Contractual Maturity | (In thousands) Amortized cost Fair value Within 1 year $ 4,576,127 $ 4,529,477 After 1 to 5 years 6,873,043 6,458,553 After 5 to 10 years 1,223,590 1,120,944 After 10 years 6,889,789 5,695,400 Total debt securities $ 19,562,549 $ 17,804,374 |
Schedule Of Realized Gain Loss | (In thousands) 2022 2021 2020 Gross realized gains $ - $ 695 $ 41 Gross realized losses - (672) - Net realized gains (losses) on sale of debt securities available $ - $ 23 $ 41 |
Debt Securities Available For Sale Unrealized Loss Position Fair Value | At December 31, 2022 Less than 12 months 12 months or more Total Gross Gross Gross Fair Fair Fair (In thousands) value losses value losses value losses U.S. Treasury securities $ 6,027,786 $ 288,582 $ 3,244,572 $ 209,696 $ 9,272,358 $ 498,278 Collateralized mortgage obligations - federal agencies 139,845 10,655 22,661 3,705 162,506 14,360 Mortgage-backed securities 1,740,214 138,071 4,662,195 1,108,980 6,402,409 1,247,051 Other 60 2 - - 60 2 Total debt securities $ 7,907,905 $ 437,310 $ 7,929,428 $ 1,322,381 $ 15,837,333 $ 1,759,691 At December 31, 2021 Less than 12 months 12 months or more Total Gross Gross Gross Fair Fair Fair (In thousands) value losses value losses value losses U.S. Treasury securities $ 9,590,448 $ 102,059 $ - $ - $ 9,590,448 $ 102,059 Collateralized mortgage obligations - federal agencies 35,533 334 1,084 29 36,617 363 Mortgage-backed securities 5,767,556 170,614 595,051 25,312 6,362,607 195,926 Total debt securities $ 15,393,537 $ 273,007 $ 596,135 $ 25,341 $ 15,989,672 $ 298,348 |
Debt securities held-to-matur_2
Debt securities held-to-maturity (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Investments [Abstract] | |
Debt Securities, Held-to-maturity | At December 31, 2022 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 $ 499,034 $ 499,034 $ - $ 499,034 $ - $ 6,203 $ 492,831 2.83 % After 1 to 5 years 6,147,568 5,640,767 - 5,640,767 - 59,806 5,580,961 1.49 After 5 to 10 years 2,638,238 2,313,666 - 2,313,666 - 14,857 2,298,809 1.41 Total U.S. Treasury 9,284,840 8,453,467 - 8,453,467 - 80,866 8,372,601 1.54 Obligations of Puerto Rico, States and political subdivisions Within 1 year 4,530 4,530 8 4,522 5 - 4,527 6.08 After 1 to 5 years 19,105 19,105 234 18,871 150 82 18,939 4.24 After 5 to 10 years 1,025 1,025 34 991 34 - 1,025 5.80 After 10 years 41,261 41,261 6,635 34,626 4,729 2,229 37,126 1.40 Total obligations of political subdivisions 65,921 65,921 6,911 59,010 4,918 2,311 61,617 2.61 Collateralized mortgage obligations - federal agencies After 1 to 5 years 19 19 - 19 - - 19 6.44 Total collateralized federal agencies 19 19 - 19 - - 19 6.44 Securities in wholly owned statutory business trusts After 10 years 5,959 5,959 - 5,959 - - 5,959 6.33 Total securities business trusts 5,959 5,959 - 5,959 - - 5,959 6.33 Total debt securities $ 9,356,739 $ 8,525,366 $ 6,911 $ 8,518,455 $ 4,918 $ 83,177 $ 8,440,196 1.55 % [1] Book value includes $ 831 securities transferred from available-for-sale securities [2] Includes $ 6.9 At December 31, 2021 Allowance Gross Gross Weighted Amortized for Credit Net of unrealized unrealized Fair average (In thousands) cost Losses Allowance gains losses value yield Obligations of Puerto Rico, States and political subdivisions Within 1 year $ 4,240 $ 7 $ 4,233 $ 4 $ - $ 4,237 6.07 % After 1 to 5 years 14,395 148 14,247 149 - 14,396 6.23 After 5 to 10 years 11,280 122 11,158 104 - 11,262 2.18 After 10 years 43,561 7,819 35,742 11,746 - 47,488 1.50 Total obligations of subdivisions 73,476 8,096 65,380 12,003 - 77,383 2.79 Collateralized mortgage obligations - federal agencies After 1 to 5 years 25 - 25 - - 25 6.44 Total collateralized agencies 25 - 25 - - 25 6.44 Securities in wholly owned statutory business trusts After 10 years 5,960 - 5,960 - - 5,960 6.33 Total securities trusts 5,960 - 5,960 - - 5,960 6.33 Total debt securities $ 79,461 $ 8,096 $ 71,365 $ 12,003 $ - $ 83,368 3.06 % |
Schedule Of Aggregate Amortized Cost And Fair Value Of HTMs By Contractual Maturity | (In thousands) Amortized cost Book Value Fair value Within 1 year $ 503,564 $ 503,564 $ 497,358 After 1 to 5 years 6,166,692 5,659,891 5,599,919 After 5 to 10 years 2,639,263 2,314,691 2,299,834 After 10 years 47,220 47,220 43,085 Total debt securities $ 9,356,739 $ 8,525,366 $ 8,440,196 |
Debt securities held to maturity credit quality indicator | At December 31, 2022 At December 31, 2021 (In thousands) Securities issued by Puerto Rico municipalities Watch $ 13,735 $ 16,345 Pass 10,925 13,800 Total $ 24,660 $ 30,145 |
Debt securities held to maturity allowance for credit loss | For the year ended December 31, 2022 2021 (In thousands) Obligations of Puerto Rico, States and political subdivisions Allowance for credit losses: Beginning balance $ 8,096 $ 10,261 Provision for credit losses (benefit) (1,185) (2,165) Securities charged-off - - Recoveries - - Ending balance $ 6,911 $ 8,096 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Net financing leases | (In thousands) 2022 2021 Total minimum lease $ 1,336,173 $ 1,190,545 Estimated residual value of leased property 605,638 518,670 Deferred origination costs, net of fees 24,909 21,474 Less - Unearned financing income 293,091 257,738 Net minimum lease payments 1,673,629 1,472,951 Less - Allowance for credit losses 22,216 18,581 Net minimum lease payments, net of allowance for credit losses $ 1,651,413 $ 1,454,370 |
Sales type and direct financing leases, lease receivable maturity | At December 31, 2022, future minimum lease payments (In thousands) 2023 $ 111,779 2024 132,371 2025 177,836 2026 303,773 2027 402,035 2028 and thereafter 208,379 Total $ 1,336,173 |
Purchased Financial Assets With Credit Deterioration | Purchased Credit Deteriorated (PCD) Loans The Corporation has purchased loans during deterioration of credit quality since origination. The (In thousands) December 31, 2022 December 31, 2021 Purchase price of loans at acquisition $ 3,144 $ 10,995 Allowance for credit losses at acquisition 915 3,142 Non-credit discount / (premium) at acquisition 140 446 Par value of acquired loans at acquisition $ 4,199 $ 14,583 |
Loans Held in Portfolio | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Past due financing receivables | The following tables present the and by loan class including those that are in non-performing status or that are accruing December 31, 2022 and 2021. December 31, 2022 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 $ 425 $ - $ 242 $ 667 $ 280,706 $ 281,373 $ 242 $ - Commercial real estate: Non-owner occupied 941 428 23,662 25,031 2,732,296 2,757,327 23,662 - Owner occupied 729 245 23,990 24,964 1,563,092 1,588,056 23,990 - Commercial and industrial 3,036 941 35,777 39,754 3,756,754 3,796,508 34,277 1,500 Construction - - - - 147,041 147,041 - - Mortgage 222,926 91,881 579,993 894,800 5,215,479 6,110,279 242,391 337,602 Leasing 11,983 3,563 5,941 21,487 1,564,252 1,585,739 5,941 - Consumer: Credit cards 7,106 5,049 11,910 24,065 1,017,766 1,041,831 - 11,910 Home equity lines of credit - - - - 2,954 2,954 - - Personal 13,232 8,752 18,082 40,066 1,545,621 1,585,687 18,082 - Auto 68,868 19,243 40,978 129,089 3,383,441 3,512,530 40,978 - Other 487 87 12,682 13,256 124,324 137,580 12,446 236 Total $ 329,733 $ 130,189 $ 753,257 $ 1,213,179 $ 21,333,726 $ 22,546,905 $ 402,009 $ 351,248 December 31, 2022 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 $ 2,177 $ - $ - $ 2,177 $ 2,038,163 $ 2,040,340 $ - $ - Commercial real estate: Non-owner occupied 484 - 1,454 1,938 1,740,405 1,742,343 1,454 - Owner occupied - - 5,095 5,095 1,485,398 1,490,493 5,095 - Commercial and industrial 12,960 2,205 4,685 19,850 2,022,842 2,042,692 4,319 366 Construction - - - - 610,943 610,943 - - Mortgage 16,131 5,834 20,488 42,453 1,244,739 1,287,192 20,488 - Consumer: Credit cards - - - - 39 39 - - Home equity lines of credit 413 161 4,110 4,684 64,278 68,962 4,110 - Personal 1,808 1,467 1,958 5,233 232,659 237,892 1,958 - Other - - 8 8 9,960 9,968 8 - Total $ 33,973 $ 9,667 $ 37,798 $ 81,438 $ 9,449,426 $ 9,530,864 $ 37,432 $ 366 December 31, 2022 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 $ 2,602 $ - $ 242 $ 2,844 $ 2,318,869 $ 2,321,713 $ 242 $ - Commercial real estate: Non-owner occupied 1,425 428 25,116 26,969 4,472,701 4,499,670 25,116 - Owner occupied 729 245 29,085 30,059 3,048,490 3,078,549 29,085 - Commercial and industrial 15,996 3,146 40,462 59,604 5,779,596 5,839,200 38,596 1,866 Construction - - - - 757,984 757,984 - - Mortgage [1] 239,057 97,715 600,481 937,253 6,460,218 7,397,471 262,879 337,602 Leasing 11,983 3,563 5,941 21,487 1,564,252 1,585,739 5,941 - Consumer: Credit cards 7,106 5,049 11,910 24,065 1,017,805 1,041,870 - 11,910 Home equity lines of credit 413 161 4,110 4,684 67,232 71,916 4,110 - Personal 15,040 10,219 20,040 45,299 1,778,280 1,823,579 20,040 - Auto 68,868 19,243 40,978 129,089 3,383,441 3,512,530 40,978 - Other 487 87 12,690 13,264 134,284 147,548 12,454 236 Total $ 363,706 $ 139,856 $ 791,055 $ 1,294,617 $ 30,783,152 $ 32,077,769 $ 439,441 $ 351,614 [1] It is the Corporation’s policy to report delinquent residential the U.S. Department of Veterans Affairs repayment is insured. 14 into GNMA securities, in which the Corporation had a the obligation to repurchase loans that are 90 days or more required to be reflected (rebooked) on the financial statements 190 residential mortgage loans insured by FHA or guaranteed by the Corporation has approximately $ 42 interest. Due to the guaranteed nature of the loans, it is [2] Loans held-in-portfolio are net of $ 295 5 [3] Includes $ 7.4 of which $ 4.8 2.6 Bank ("FRB") for discount window borrowings. December 31, 2021 BPPR Past due Past due 90 days or more 30-59 60-89 90 days Total Non-accrual Accruing (In thousands) or more past due Current Loans HIP loans loans Commercial multi-family $ 314 $ - $ 272 $ 586 $ 154,183 $ 154,769 $ 272 $ - Commercial real estate: Non-owner occupied 2,399 136 20,716 23,251 2,266,672 2,289,923 20,716 - Owner occupied 3,329 278 54,335 57,942 1,365,787 1,423,729 54,335 - Commercial and industrial 3,438 1,727 45,242 50,407 3,478,041 3,528,448 44,724 518 Construction - - 485 485 86,626 87,111 485 - Mortgage 217,830 81,754 805,245 1,104,829 5,147,037 6,251,866 333,887 471,358 Leasing 9,240 2,037 3,102 14,379 1,366,940 1,381,319 3,102 - Consumer: Credit cards 5,768 3,520 8,577 17,865 901,986 919,851 - 8,577 Home equity lines of credit 46 - 23 69 3,502 3,571 - 23 Personal 10,027 6,072 21,235 37,334 1,250,726 1,288,060 21,235 - Auto 59,128 15,019 23,085 97,232 3,314,955 3,412,187 23,085 - Other 432 714 12,621 13,767 110,781 124,548 12,448 173 Total $ 311,951 $ 111,257 $ 994,938 $ 1,418,146 $ 19,447,236 $ 20,865,382 $ 514,289 $ 480,649 December 31, 2021 Popular U.S. Past due Past due 90 days or more 30-59 60-89 90 days Total Non-accrual Accruing (In thousands) or more past due Current Loans HIP loans loans Commercial multi-family $ 3,826 $ - $ - $ 3,826 $ 1,804,035 $ 1,807,861 $ - $ - Commercial real estate: Non-owner occupied 5,721 683 622 7,026 2,316,441 2,323,467 622 - Owner occupied 1,095 - 1,013 2,108 392,265 394,373 1,013 - Commercial and industrial 9,410 2,680 4,015 16,105 1,794,026 1,810,131 3,897 118 Construction - - - - 629,109 629,109 - - Mortgage 11,711 2,573 21,969 36,253 1,139,077 1,175,330 21,969 - Consumer: Credit cards - - - - 10 10 - - Home equity lines of credit 71 34 5,406 5,511 69,780 75,291 5,406 - Personal 863 574 681 2,118 152,827 154,945 681 - Other - - - - 4,658 4,658 - - Total $ 32,697 $ 6,544 $ 33,706 $ 72,947 $ 8,302,228 $ 8,375,175 $ 33,588 $ 118 December 31, 2021 Popular, Inc. Past due Past due 90 days or more 30-59 60-89 90 days Total Non-accrual Accruing (In thousands) or more past due Current Loans HIP [2] [3] loans loans Commercial multi-family $ 4,140 $ - $ 272 $ 4,412 $ 1,958,218 $ 1,962,630 $ 272 $ - Commercial real estate: Non-owner occupied 8,120 819 21,338 30,277 4,583,113 4,613,390 21,338 - Owner occupied 4,424 278 55,348 60,050 1,758,052 1,818,102 55,348 - Commercial and industrial 12,848 4,407 49,257 66,512 5,272,067 5,338,579 48,621 636 Construction - - 485 485 715,735 716,220 485 - Mortgage [1] 229,541 84,327 827,214 1,141,082 6,286,114 7,427,196 355,856 471,358 Leasing 9,240 2,037 3,102 14,379 1,366,940 1,381,319 3,102 - Consumer: Credit cards 5,768 3,520 8,577 17,865 901,996 919,861 - 8,577 Home equity lines of credit 117 34 5,429 5,580 73,282 78,862 5,406 23 Personal 10,890 6,646 21,916 39,452 1,403,553 1,443,005 21,916 - Auto 59,128 15,019 23,085 97,232 3,314,955 3,412,187 23,085 - Other 432 714 12,621 13,767 115,439 129,206 12,448 173 Total $ 344,648 $ 117,801 $ 1,028,644 $ 1,491,093 $ 27,749,464 $ 29,240,557 $ 547,877 $ 480,767 [1] It is the Corporation’s policy to report delinquent residential 90 days or more as opposed to non-performing since 13 December 31, 2021 related to the rebooking of loans Under the GNMA program, issuers such as BPPR have the For accounting purposes, these loans subject to repurchases with an offsetting liability. These 304 no longer accruing interest as of December 31, 2021. 50 which are guaranteed by FHA, but which are currently policy to exclude these balances from non-performing assets. [2] Loans held-in-portfolio are net of $ 266 59 [3] Includes $ 6.6 of which $ 3.2 1.7 1.7 billion serve as collateral for public funds. |
Financing receivable non accrual status | December 31, 2022 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 $ - $ 242 $ - $ - $ - $ 242 Commercial real estate non-owner occupied 15,639 8,023 1,454 - 17,093 8,023 Commercial real estate owner occupied 9,070 14,920 5,095 - 14,165 14,920 Commercial and industrial 20,227 14,050 - 4,319 20,227 18,369 Mortgage 119,027 123,364 71 20,417 119,098 143,781 Leasing 458 5,483 - - 458 5,483 Consumer: - - - 4,110 - 4,110 4,623 13,459 - 1,958 4,623 15,417 1,177 39,801 - - 1,177 39,801 263 12,183 - 8 263 12,191 Total $ 170,484 $ 231,525 $ 6,620 $ 30,812 $ 177,104 $ 262,337 December 31, 2021 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 $ - $ 272 $ - $ - $ - $ 272 Commercial real estate non-owner occupied 15,819 4,897 - 622 15,819 5,519 Commercial real estate owner occupied 13,491 40,844 - 1,013 13,491 41,857 Commercial and industrial 30,177 14,547 - 3,897 30,177 18,444 Construction - 485 - - - 485 Mortgage 169,827 164,060 29 21,940 169,856 186,000 Leasing 276 2,826 - - 276 2,826 Consumer: - - - 5,406 - 5,406 6,279 14,956 81 600 6,360 15,556 879 22,206 - - 879 22,206 - 12,448 - - - 12,448 Total $ 236,748 $ 277,541 $ 110 $ 33,478 $ 236,858 $ 311,019 |
Collateral dependent financial assets | December 31, 2022 (In thousands) Real Estate Auto Equipment Accounts Receivables Other Total BPPR Commercial multi-family $ 1,329 $ - $ - $ - $ - $ 1,329 Commercial real estate: Non-owner occupied 202,980 - - - - 202,980 Owner occupied 18,234 - - - - 18,234 Commercial and industrial 1,345 - 32 9,853 20,985 32,215 Mortgage 128,069 - - - - 128,069 Leasing - 1,020 - - - 1,020 Consumer: Personal 5,381 - - - - 5,381 Auto - 9,556 - - - 9,556 Other - - - - 263 263 Total BPPR $ 357,338 $ 10,576 $ 32 $ 9,853 $ 21,248 $ 399,047 Popular U.S. Commercial real estate: Non-owner occupied $ 1,454 $ - $ - $ - $ - $ 1,454 Owner occupied 5,095 - - - - 5,095 Commercial and industrial - - 136 - - 136 Mortgage 1,104 - - - - 1,104 Total Popular U.S. $ 7,653 $ - $ 136 $ - $ - $ 7,789 Popular, Inc. Commercial multi-family $ 1,329 $ - $ - $ - $ - $ 1,329 Commercial real estate: Non-owner occupied 204,434 - - - - 204,434 Owner occupied 23,329 - - - - 23,329 Commercial and industrial 1,345 - 168 9,853 20,985 32,351 Mortgage 129,173 - - - - 129,173 Leasing - 1,020 - - - 1,020 Consumer: Personal 5,381 - - - - 5,381 Auto - 9,556 - - - 9,556 Other - - - - 263 263 Total Popular, $ 364,991 $ 10,576 $ 168 $ 9,853 $ 21,248 $ 406,836 December 31, 2021 (In thousands) Real Estate Auto Equipment Accounts Receivables Other Total BPPR Commercial multi-family $ 1,374 $ - $ - $ - $ - $ 1,374 Commercial real estate: Non-owner occupied 211,026 - - - - 211,026 Owner occupied 47,268 - - - - 47,268 Commercial and industrial 2,650 - 680 10,675 27,893 41,898 Mortgage 179,774 - - - - 179,774 Leasing - 574 - - - 574 Consumer: Personal 6,165 - - - - 6,165 Auto - 8,983 - - - 8,983 Total BPPR $ 448,257 $ 9,557 $ 680 $ 10,675 $ 27,893 $ 497,062 Popular U.S. Mortgage $ 926 $ - $ - $ - $ - $ 926 Total Popular U.S. $ 926 $ - $ - $ - $ - $ 926 Popular, Inc. Commercial multi-family $ 1,374 $ - $ - $ - $ - $ 1,374 Commercial real estate: Non-owner occupied 211,026 - - - - 211,026 Owner occupied 47,268 - - - - 47,268 Commercial and industrial 2,650 - 680 10,675 27,893 41,898 Mortgage 180,700 - - - - 180,700 Leasing - 574 - - - 574 Consumer: Personal 6,165 - - - - 6,165 Auto - 8,983 - - - 8,983 Total Popular, $ 449,183 $ 9,557 $ 680 $ 10,675 $ 27,893 $ 497,988 |
Allowance for credit losses -_2
Allowance for credit losses - loans held-in-portfolio (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Allowance for credit losses on financing receivables | For the year ended December 31, 2022 BPPR (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 151,928 $ 1,641 $ 138,286 $ 17,578 $ 284,729 $ 594,162 Provision for credit losses (benefit) 11,475 526 (37,600) 6,832 88,311 69,544 Initial allowance for credit losses - PCD Loans - - 915 - - 915 Charge-offs (7,238) - (5,105) (7,107) (106,752) (126,202) Recoveries 18,130 811 20,848 3,315 34,022 77,126 Ending balance - loans $ 174,295 $ 2,978 $ 117,344 $ 20,618 $ 300,310 $ 615,545 Allowance for credit losses - unfunded commitments: Beginning balance $ 1,751 $ 2,388 $ - $ - $ - $ 4,139 Provision for credit losses (benefit) 2,585 (366) - - - 2,219 Ending balance - unfunded commitments [1] $ 4,336 $ 2,022 $ - $ - $ - $ 6,358 [1] Allowance for credit losses of unfunded commitments is For the year ended December 31, 2022 Popular U.S. (In thousands) Commercial Construction Mortgage Consumer Total Allowance for credit losses - loans: Beginning balance $ 63,877 $ 4,722 $ 16,192 $ 16,413 $ 101,204 Provision for credit losses (benefit) 4,597 (4,586) 1,706 12,046 13,763 Charge-offs (10,012) - (68) (8,036) (18,116) Recoveries 2,619 1,132 80 4,075 7,906 Ending balance - loans $ 61,081 $ 1,268 $ 17,910 $ 24,498 $ 104,757 Allowance for credit losses - unfunded commitments: Beginning balance $ 1,384 $ 2,337 $ - $ 37 $ 3,758 Provision for credit losses (benefit) (209) (1,153) - 51 (1,311) Ending balance - unfunded commitments [1] $ 1,175 $ 1,184 $ - $ 88 $ 2,447 [1] Allowance for credit losses of unfunded commitments is For the year ended December 31, 2022 Popular, Inc. (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 215,805 $ 6,363 $ 154,478 $ 17,578 $ 301,142 $ 695,366 Provision for credit losses (benefit) 16,072 (4,060) (35,894) 6,832 100,357 83,307 Initial allowance for credit losses - PCD Loans - - 915 - - 915 Charge-offs (17,250) - (5,173) (7,107) (114,788) (144,318) Recoveries 20,749 1,943 20,928 3,315 38,097 85,032 Ending balance - loans $ 235,376 $ 4,246 $ 135,254 $ 20,618 $ 324,808 $ 720,302 Allowance for credit losses - unfunded commitments: Beginning balance $ 3,135 $ 4,725 $ - $ - $ 37 $ 7,897 Provision for credit losses (benefit) 2,376 (1,519) - - 51 908 Ending balance - unfunded commitments [1] $ 5,511 $ 3,206 $ - $ - $ 88 $ 8,805 [1] Allowance for credit losses of unfunded commitments is For the year ended December 31, 2021 BPPR (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 225,323 $ 4,871 $ 195,557 $ 16,863 $ 297,136 $ 739,750 Provision for credit losses (benefit) (91,695) (1,533) (57,684) 2,094 19,800 (129,018) Initial allowance for credit losses - PCD Loans - - 3,142 - - 3,142 Charge-offs (17,180) (6,620) (17,656) (4,637) (78,047) (124,140) Recoveries 35,480 4,923 14,927 3,258 45,840 104,428 Ending balance - loans $ 151,928 $ 1,641 $ 138,286 $ 17,578 $ 284,729 $ 594,162 Allowance for credit losses - unfunded commitments: Beginning balance $ 4,913 $ 4,610 $ - $ - $ - $ 9,523 Provision for credit losses (benefit) (3,162) (2,222) - - - (5,384) Ending balance - unfunded commitments [1] $ 1,751 $ 2,388 $ - $ - $ - $ 4,139 [1] Allowance for credit losses of unfunded commitments is For the year ended December 31, 2021 Popular U.S. (In thousands) Commercial Construction Mortgage Consumer Total Allowance for credit losses - loans: Beginning balance $ 108,057 $ 9,366 $ 20,159 $ 18,918 $ 156,500 Provision for credit losses (benefit) (45,427) (4,764) (3,949) (187) (54,327) Charge-offs (1,177) (523) (605) (8,732) (11,037) Recoveries 2,424 643 587 6,414 10,068 Ending balance - loans $ 63,877 $ 4,722 $ 16,192 $ 16,413 $ 101,204 Allowance for credit losses - unfunded commitments: Beginning balance $ 1,753 $ 4,469 $ - $ 106 $ 6,328 Provision for credit losses (benefit) (369) (2,132) - (69) (2,570) Ending balance - unfunded commitments [1] $ 1,384 $ 2,337 $ - $ 37 $ 3,758 [1] Allowance for credit losses of unfunded commitments is For the year ended December 31, 2021 Popular, Inc. (In thousands) Commercial Construction Mortgage Leasing Consumer Total Allowance for credit losses - loans: Beginning balance $ 333,380 $ 14,237 $ 215,716 $ 16,863 $ 316,054 $ 896,250 Provision for credit losses (benefit) (137,122) (6,297) (61,633) 2,094 19,613 (183,345) Initial allowance for credit losses - PCD Loans - - 3,142 - - 3,142 Charge-offs (18,357) (7,143) (18,261) (4,637) (86,779) (135,177) Recoveries 37,904 5,566 15,514 3,258 52,254 114,496 Ending balance - loans $ 215,805 $ 6,363 $ 154,478 $ 17,578 $ 301,142 $ 695,366 Allowance for credit losses - unfunded commitments: Beginning balance $ 6,666 $ 9,079 $ - $ - $ 106 $ 15,851 Provision for credit losses (benefit) (3,531) (4,354) - - (69) (7,954) Ending balance - unfunded commitments [1] $ 3,135 $ 4,725 $ - $ - $ 37 $ 7,897 [1] Allowance for credit losses of unfunded commitments is |
Schedule of Trouble Debt Restructurings breakdown by Accrual and Nonaccrual Status | December 31, 2022 (In thousands) Accruing Non- Accruing Total Related Allowance Accruing Non- Accruing Total Related Allowance Loans held-in-portfolio: $ 269,784 $ 54,641 $ 324,425 $ 18,451 $ 261,344 $ 64,744 $ 326,088 $ 24,736 [1] 1,169,976 86,790 1,256,766 58,819 1,143,204 112,509 1,255,713 61,888 1,154 24 1,178 43 325 47 372 42 54,395 7,883 62,278 13,577 64,093 10,556 74,649 16,124 Loans held-in-portfolio $ 1,495,309 $ 149,338 $ 1,644,647 $ 90,890 $ 1,468,966 $ 187,856 $ 1,656,822 $ 102,790 [1] At December 31, 2022, accruing mortgage loan TDRs include 725 716 million at December 31, 2021. |
Troubled Debt Restructurings Loan Count By Type Of Modification | For the year ended December 31, 2022 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial real estate non-owner occupied - 2 2 4 Commercial real estate owner occupied 3 10 1 14 Commercial and industrial 4 9 1 16 Mortgage 7 217 881 5 Leasing - 2 1 34 Consumer: 48 - - 48 - - 1 - 111 111 3 40 - 1 - 129 1 - - - Total 174 352 890 290 For the year ended December 31, 2021 Reduction in interest rate Extension of maturity date Combination of reduction in interest rate and extension of maturity date Other Commercial multi-family - 1 1 - Commercial real estate non-owner occupied - 11 1 - Commercial real estate owner occupied 4 23 4 12 Commercial and industrial 5 13 - 21 Mortgage 39 140 1,590 5 Leasing - - 2 - Consumer: 134 - 1 43 - 1 1 - 183 117 1 2 - 7 3 - 7 - - 1 Total 372 313 1,604 84 |
Troubled Debt Restructurings on Financing Receivables | Popular, Inc. For the year ended December 31, 2022 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for credit losses as a result of modification Commercial real estate non-owner occupied 8 $ 6,530 $ 6,527 $ 60 Commercial real estate owner occupied 28 19,192 19,165 (2,078) Commercial and industrial 30 51,139 50,929 2,120 Mortgage 1,110 128,581 125,875 4,447 Leasing 37 1,181 1,180 13 Consumer: 96 866 898 10 1 245 236 67 265 3,581 3,479 671 130 1,631 1,631 5 1 8 8 1 Total 1,706 $ 212,954 $ 209,928 $ 5,316 Popular, Inc. For the year ended December 31, 2021 (Dollars in thousands) Loan count Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Increase (decrease) in the allowance for credit losses as a result of modification Commercial multi-family 2 $ 246 $ 211 $ 26 Commercial real estate non-owner occupied 12 3,612 3,604 177 Commercial real estate owner occupied 43 95,354 90,096 1,577 Commercial and industrial 39 6,573 5,719 745 Mortgage 1,774 213,661 214,367 6,632 Leasing 2 40 38 5 Consumer: 178 2,223 2,136 42 2 176 228 54 303 4,222 4,217 899 10 199 206 65 8 305 303 124 Total 2,373 $ 326,611 $ 321,125 $ 10,346 |
T D R Loans Subsequent Default | Defaulted during the year ended December 31, 2022 (Dollars in thousands) Loan count Recorded investment as of first default date Commercial real estate owner occupied 2 $ 620 Commercial and industrial 7 6,639 Mortgage 75 9,391 Leasing 1 5 Consumer: 29 249 49 918 Total 163 $ 17,822 Defaulted during the year ended December 31, 2021 (Dollars in thousands) Loan count Recorded investment as of first default date Commercial real estate non-owner occupied 4 $ 8,421 Commercial real estate owner occupied 4 4,500 Commercial and industrial 5 317 Mortgage 104 10,543 Consumer: 81 979 27 723 Total 225 $ 25,483 |
Financing Receivable Credit Quality Indicators | December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total BPPR Commercial: Commercial multi-family Watch $ - $ - $ - $ 18,508 $ - $ 4,687 $ - $ - $ 23,195 Special mention - - - - - 2,692 - - 2,692 Substandard - - - - - 3,326 100 - 3,426 Pass 137,411 22,850 20,821 16,145 24,640 30,193 - - 252,060 Total commercial multi-family $ 137,411 $ 22,850 $ 20,821 $ 34,653 $ 24,640 $ 40,898 $ 100 $ - $ 281,373 Commercial real estate non-owner occupied Watch $ 173 $ 36,228 $ 14,045 $ 14,942 $ 7,777 $ 99,269 $ - $ - $ 172,434 Special Mention - 4,361 19,970 7,517 - 25,540 - - 57,388 Substandard 8,933 - 3,209 19,004 25,490 21,064 - - 77,700 Pass 855,839 585,690 294,086 94,056 35,105 568,893 16,136 - 2,449,805 Total commercial real estate non- owner occupied $ 864,945 $ 626,279 $ 331,310 $ 135,519 $ 68,372 $ 714,766 $ 16,136 $ - $ 2,757,327 Commercial real estate owner occupied Watch $ 2,296 $ 5,271 $ 9,447 $ 4,275 $ 31,649 $ 71,568 $ - $ - $ 124,506 Special Mention 10 284 1,684 6,578 1,076 61,460 - - 71,092 Substandard 16,205 6,177 802 800 770 84,205 - - 108,959 Doubtful - - - - - 505 - - 505 Pass 227,404 258,473 274,333 30,691 68,029 407,322 16,742 - 1,282,994 Total commercial real estate owner occupied $ 245,915 $ 270,205 $ 286,266 $ 42,344 $ 101,524 $ 625,060 $ 16,742 $ - $ 1,588,056 Commercial and industrial Watch $ 32,376 $ 2,185 $ 15,493 $ 18,829 $ 15,483 $ 51,602 $ 56,508 $ - $ 192,476 Special Mention 2,537 2,479 5,770 1,139 6,767 46,040 6,283 - 71,015 Substandard 789 1,276 1,600 3,138 11,536 40,636 46,226 - 105,201 Doubtful - - 29 - 75 75 - - 179 Loss - - - - - - 144 - 144 Pass 793,662 684,647 211,013 177,265 65,197 292,173 1,203,536 - 3,427,493 Total commercial and industrial $ 829,364 $ 690,587 $ 233,905 $ 200,371 $ 99,058 $ 430,526 $ 1,312,697 $ - $ 3,796,508 Construction Watch $ 35,446 $ 3,116 $ 98 $ - $ - $ - $ 141 $ - $ 38,801 Substandard - - 9,629 - - - $ - - 9,629 Pass 13,044 34,387 15,961 2,262 - - 32,957 - 98,611 Total construction $ 48,490 $ 37,503 $ 25,688 $ 2,262 $ - $ - $ 33,098 $ - $ 147,041 Mortgage Substandard $ - $ 574 $ 687 $ 3,926 $ 4,227 $ 93,959 $ - $ - $ 103,373 Pass 449,286 451,027 285,026 204,170 237,007 4,380,390 - - 6,006,906 Total mortgage $ 449,286 $ 451,601 $ 285,713 $ 208,096 $ 241,234 $ 4,474,349 $ - $ - $ 6,110,279 Leasing Substandard $ 953 $ 1,491 $ 941 $ 1,172 $ 1,127 $ 215 $ - $ - $ 5,899 Loss - - - 21 - 21 - - 42 Pass 672,294 428,889 237,939 146,231 79,451 14,994 - - 1,579,798 Total leasing $ 673,247 $ 430,380 $ 238,880 $ 147,424 $ 80,578 $ 15,230 $ - $ - $ 1,585,739 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total BPPR Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 11,907 $ - $ 11,907 Loss - - - - - - 3 - 3 Pass - - - - - - 1,029,921 - 1,029,921 Total credit cards $ - $ - $ - $ - $ - $ - $ 1,041,831 $ - $ 1,041,831 HELOCs Pass $ - $ - $ - $ - $ - $ - $ 2,954 $ - $ 2,954 Total HELOCs $ - $ - $ - $ - $ - $ - $ 2,954 $ - $ 2,954 Personal Substandard $ 1,330 $ 2,001 $ 764 $ 1,774 $ 503 $ 10,831 $ - $ 1,285 $ 18,488 Loss - - 53 20 31 10 - 1 115 Pass 841,564 320,809 103,337 117,568 46,555 109,543 - 27,708 1,567,084 Total Personal $ 842,894 $ 322,810 $ 104,154 $ 119,362 $ 47,089 $ 120,384 $ - $ 28,994 $ 1,585,687 Auto Substandard $ 6,764 $ 11,171 $ 10,466 $ 10,243 $ 4,597 $ 2,382 $ - $ - $ 45,623 Loss 23 41 48 25 7 14 - - 158 Pass 1,156,654 961,571 588,200 426,169 248,328 85,827 - - 3,466,749 Total Auto $ 1,163,441 $ 972,783 $ 598,714 $ 436,437 $ 252,932 $ 88,223 $ - $ - $ 3,512,530 Other consumer Substandard $ - $ - $ 100 $ 593 $ 543 $ 242 $ 10,902 $ - $ 12,380 Loss - - - - 263 40 - - 303 Pass 29,557 17,439 6,967 4,201 4,553 1,942 60,238 - 124,897 Total Other consumer $ 29,557 $ 17,439 $ 7,067 $ 4,794 $ 5,359 $ 2,224 $ 71,140 $ - $ 137,580 Total Puerto Rico $ 5,284,550 $ 3,842,437 $ 2,132,518 $ 1,331,262 $ 920,786 $ 6,511,660 $ 2,494,698 $ 28,994 $ 22,546,905 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular U.S. Commercial: Commercial multi-family Watch $ 750 $ 917 $ 6,218 $ 85,579 $ 9,633 $ 52,835 $ - $ - $ 155,932 Special mention - - 1,198 - 14,491 8,372 - - 24,061 Substandard - - - 9,305 7,373 2,941 - - 19,619 Pass 503,010 399,397 238,903 210,295 138,723 347,615 2,785 - 1,840,728 Total commercial multi-family $ 503,760 $ 400,314 $ 246,319 $ 305,179 $ 170,220 $ 411,763 $ 2,785 $ - $ 2,040,340 Commercial real estate non-owner occupied Watch $ - $ 2,167 $ 13,622 $ 3,355 $ 26,931 $ 29,849 $ - $ - $ 75,924 Special Mention - - - 1,353 - 75,269 - - 76,622 Substandard - 2,864 2,149 3,220 1,429 4,722 - - 14,384 Pass 552,258 209,338 211,449 109,781 100,065 383,409 9,113 - 1,575,413 Total commercial real estate non- owner occupied $ 552,258 $ 214,369 $ 227,220 $ 117,709 $ 128,425 $ 493,249 $ 9,113 $ - $ 1,742,343 Commercial real estate owner occupied Watch $ - $ - $ 1,197 $ 1,079 $ 6,095 $ 55,005 $ - $ - $ 63,376 Special Mention - - 3,886 - - 901 - - 4,787 Substandard - - - 7,403 11,165 33,586 - - 52,154 Pass 363,655 422,959 114,988 82,971 119,565 258,881 7,157 - 1,370,176 Total commercial real estate owner occupied $ 363,655 $ 422,959 $ 120,071 $ 91,453 $ 136,825 $ 348,373 $ 7,157 $ - $ 1,490,493 Commercial and industrial Watch $ 12,328 $ 2,218 $ 2,022 $ 2,049 $ 8,438 $ 532 $ 4,291 $ - $ 31,878 Special Mention 1,262 1,130 314 244 60 - 3 - 3,013 Substandard 260 935 74 4,278 315 1,829 1,408 - 9,099 Loss 292 525 1 75 192 3 - - 1,088 Pass 185,318 341,855 368,398 202,301 171,528 376,045 352,169 - 1,997,614 Total commercial and industrial $ 199,460 $ 346,663 $ 370,809 $ 208,947 $ 180,533 $ 378,409 $ 357,871 $ - $ 2,042,692 Construction Watch $ - $ 12,085 $ - $ 6,979 $ 18,310 $ 34,126 $ - $ - $ 71,500 Special Mention - 3 - - - - - - 3 Substandard - - 1,423 - 6,540 2,095 - - 10,058 Pass 164,272 146,062 91,486 93,118 10,863 23,581 - - 529,382 Total construction $ 164,272 $ 158,150 $ 92,909 $ 100,097 $ 35,713 $ 59,802 $ - $ - $ 610,943 Mortgage Substandard $ - $ 2,009 $ 3,478 $ 4,048 $ 1,156 $ 9,798 $ - $ - $ 20,489 Pass 236,595 303,204 243,468 183,846 58,026 241,564 - - 1,266,703 Total mortgage $ 236,595 $ 305,213 $ 246,946 $ 187,894 $ 59,182 $ 251,362 $ - $ - $ 1,287,192 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular U.S. Consumer: Credit cards Pass $ - $ - $ - $ - $ - $ - $ 39 $ - $ 39 Total credit cards $ - $ - $ - $ - $ - $ - $ 39 $ - $ 39 HELOCs Substandard $ - $ - $ - $ - $ - $ 2,146 $ 20 $ 1,402 $ 3,568 Loss - - - - - 4 - 538 542 Pass - - - - - 9,169 41,724 13,959 64,852 Total HELOCs $ - $ - $ - $ - $ - $ 11,319 $ 41,744 $ 15,899 $ 68,962 Personal Substandard $ 621 $ 454 $ 149 $ 238 $ 70 $ 6 $ - $ - $ 1,538 Loss - - - - - 421 - - 421 Pass 165,153 46,320 7,339 13,443 2,021 1,657 - - 235,933 Total Personal $ 165,774 $ 46,774 $ 7,488 $ 13,681 $ 2,091 $ 2,084 $ - $ - $ 237,892 Other consumer Substandard $ - $ - $ - $ - $ - $ - $ 8 $ - $ 8 Pass - - - - - - 9,960 - 9,960 Total Other consumer $ - $ - $ - $ - $ - $ - $ 9,968 $ - $ 9,968 Total Popular U.S. $ 2,185,774 $ 1,894,442 $ 1,311,762 $ 1,024,960 $ 712,989 $ 1,956,361 $ 428,677 $ 15,899 $ 9,530,864 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular, Inc. Commercial: Commercial multi-family Watch $ 750 $ 917 $ 6,218 $ 104,087 $ 9,633 $ 57,522 $ - $ - $ 179,127 Special mention - - 1,198 - 14,491 11,064 - - 26,753 Substandard - - - 9,305 7,373 6,267 100 - 23,045 Pass 640,421 422,247 259,724 226,440 163,363 377,808 2,785 - 2,092,788 Total commercial multi-family $ 641,171 $ 423,164 $ 267,140 $ 339,832 $ 194,860 $ 452,661 $ 2,885 $ - $ 2,321,713 Commercial real estate non-owner occupied Watch $ 173 $ 38,395 $ 27,667 $ 18,297 $ 34,708 $ 129,118 $ - $ - $ 248,358 Special Mention - 4,361 19,970 8,870 - 100,809 - - 134,010 Substandard 8,933 2,864 5,358 22,224 26,919 25,786 - - 92,084 Pass 1,408,097 795,028 505,535 203,837 135,170 952,302 25,249 - 4,025,218 Total commercial real estate non- owner occupied $ 1,417,203 $ 840,648 $ 558,530 $ 253,228 $ 196,797 $ 1,208,015 $ 25,249 $ - $ 4,499,670 Commercial real estate owner occupied Watch $ 2,296 $ 5,271 $ 10,644 $ 5,354 $ 37,744 $ 126,573 $ - $ - $ 187,882 Special Mention 10 284 5,570 6,578 1,076 62,361 - - 75,879 Substandard 16,205 6,177 802 8,203 11,935 117,791 - - 161,113 Doubtful - - - - - 505 - - 505 Pass 591,059 681,432 389,321 113,662 187,594 666,203 23,899 - 2,653,170 Total commercial real estate owner occupied $ 609,570 $ 693,164 $ 406,337 $ 133,797 $ 238,349 $ 973,433 $ 23,899 $ - $ 3,078,549 Commercial and industrial Watch $ 44,704 $ 4,403 $ 17,515 $ 20,878 $ 23,921 $ 52,134 $ 60,799 $ - $ 224,354 Special Mention 3,799 3,609 6,084 1,383 6,827 46,040 6,286 - 74,028 Substandard 1,049 2,211 1,674 7,416 11,851 42,465 47,634 - 114,300 Doubtful - - 29 - 75 75 - - 179 Loss 292 525 1 75 192 3 144 - 1,232 Pass 978,980 1,026,502 579,411 379,566 236,725 668,218 1,555,705 - 5,425,107 Total commercial and industrial $ 1,028,824 $ 1,037,250 $ 604,714 $ 409,318 $ 279,591 $ 808,935 $ 1,670,568 $ - $ 5,839,200 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular, Inc. Construction Watch $ 35,446 $ 15,201 $ 98 $ 6,979 $ 18,310 $ 34,126 $ 141 $ - $ 110,301 Special Mention - 3 - - - - - - 3 Substandard - - 11,052 - 6,540 2,095 - - 19,687 Pass 177,316 180,449 107,447 95,380 10,863 23,581 32,957 - 627,993 Total construction $ 212,762 $ 195,653 $ 118,597 $ 102,359 $ 35,713 $ 59,802 $ 33,098 $ - $ 757,984 Mortgage Substandard $ - $ 2,583 $ 4,165 $ 7,974 $ 5,383 $ 103,757 $ - $ - $ 123,862 Pass 685,881 754,231 528,494 388,016 295,033 4,621,954 - - 7,273,609 Total mortgage $ 685,881 $ 756,814 $ 532,659 $ 395,990 $ 300,416 $ 4,725,711 $ - $ - $ 7,397,471 Leasing Substandard $ 953 $ 1,491 $ 941 $ 1,172 $ 1,127 $ 215 $ - $ - $ 5,899 Loss - - - 21 - 21 - - 42 Pass 672,294 428,889 237,939 146,231 79,451 14,994 - - 1,579,798 Total leasing $ 673,247 $ 430,380 $ 238,880 $ 147,424 $ 80,578 $ 15,230 $ - $ - $ 1,585,739 December 31, 2022 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2022 2021 2020 2019 2018 Prior Years Total Popular, Inc. Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 11,907 $ - $ 11,907 Loss - - - - - - 3 - 3 Pass - - - - - - 1,029,960 - 1,029,960 Total credit cards $ - $ - $ - $ - $ - $ - $ 1,041,870 $ - $ 1,041,870 HELOCs Substandard $ - $ - $ - $ - $ - $ 2,146 $ 20 $ 1,402 $ 3,568 Loss - - - - - 4 - 538 542 Pass - - - - - 9,169 44,678 13,959 67,806 Total HELOCs $ - $ - $ - $ - $ - $ 11,319 $ 44,698 $ 15,899 $ 71,916 Personal Substandard $ 1,951 $ 2,455 $ 913 $ 2,012 $ 573 $ 10,837 $ - $ 1,285 $ 20,026 Loss - - 53 20 31 431 - 1 536 Pass 1,006,717 367,129 110,676 131,011 48,576 111,200 - 27,708 1,803,017 Total Personal $ 1,008,668 $ 369,584 $ 111,642 $ 133,043 $ 49,180 $ 122,468 $ - $ 28,994 $ 1,823,579 Auto Substandard $ 6,764 $ 11,171 $ 10,466 $ 10,243 $ 4,597 $ 2,382 $ - $ - $ 45,623 Loss 23 41 48 25 7 14 - - 158 Pass 1,156,654 961,571 588,200 426,169 248,328 85,827 - - 3,466,749 Total Auto $ 1,163,441 $ 972,783 $ 598,714 $ 436,437 $ 252,932 $ 88,223 $ - $ - $ 3,512,530 Other consumer Substandard $ - $ - $ 100 $ 593 $ 543 $ 242 $ 10,910 $ - $ 12,388 Loss - - - - 263 40 - - 303 Pass 29,557 17,439 6,967 4,201 4,553 1,942 70,198 - 134,857 Total Other consumer $ 29,557 $ 17,439 $ 7,067 $ 4,794 $ 5,359 $ 2,224 $ 81,108 $ - $ 147,548 Total Popular Inc. $ 7,470,324 $ 5,736,879 $ 3,444,280 $ 2,356,222 $ 1,633,775 $ 8,468,021 $ 2,923,375 $ 44,893 $ 32,077,769 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total BPPR Commercial: Commercial multi-family Watch $ - $ - $ - $ - $ - $ 4,485 $ - $ - $ 4,485 Special mention - - - - - 3,025 - - 3,025 Substandard - - 982 - - 6,257 100 - 7,339 Pass 24,936 21,288 34,840 25,311 2,066 31,468 11 - 139,920 Total commercial multi-family $ 24,936 $ 21,288 $ 35,822 $ 25,311 $ 2,066 $ 45,235 $ 111 $ - $ 154,769 Commercial real estate non-owner occupied Watch $ 100,465 $ 228,852 $ 25,443 $ 137,044 $ 2,406 $ 205,304 $ 3,237 $ - $ 702,751 Special Mention 18,509 12,563 7,271 - 4,608 24,056 - - 67,007 Substandard 30,155 27,790 24,200 25,456 2,770 72,407 - - 182,778 Pass 513,087 88,662 88,353 37,999 42,522 557,052 9,712 - 1,337,387 Total commercial real estate non- owner occupied $ 662,216 $ 357,867 $ 145,267 $ 200,499 $ 52,306 $ 858,819 $ 12,949 $ - $ 2,289,923 Commercial real estate owner occupied Watch $ 8,393 $ 8,612 $ 8,972 $ 6,958 $ 3,039 $ 121,716 $ - $ - $ 157,690 Special Mention 5,573 857 7,598 1,427 2,449 103,472 - - 121,376 Substandard 6,960 1,028 1,646 35,529 1,869 113,288 - - 160,320 Doubtful - - - - 76 612 - - 688 Pass 238,533 198,442 44,943 23,112 32,585 429,651 16,389 - 983,655 Total commercial real estate owner occupied $ 259,459 $ 208,939 $ 63,159 $ 67,026 $ 40,018 $ 768,739 $ 16,389 $ - $ 1,423,729 Commercial and industrial Watch $ 186,529 $ 12,542 $ 21,536 $ 103,835 $ 14,577 $ 90,776 $ 108,183 $ - $ 537,978 Special Mention 7,380 9,936 14,856 28,473 1,012 28,448 60,397 - 150,502 Substandard 2,190 1,091 3,041 35,826 66,771 45,168 38,003 - 192,090 Doubtful - - - - - 62 - - 62 Pass 843,661 335,369 275,357 84,084 72,580 333,869 702,896 - 2,647,816 Total commercial and industrial $ 1,039,760 $ 358,938 $ 314,790 $ 252,218 $ 154,940 $ 498,323 $ 909,479 $ - $ 3,528,448 Construction Substandard $ - $ - $ 485 $ - $ - $ - $ - $ - $ 485 Pass 21,596 41,622 1,148 - - - 22,260 - 86,626 Total construction $ 21,596 $ 41,622 $ 1,633 $ - $ - $ - $ 22,260 $ - $ 87,111 Mortgage Substandard $ - $ 954 $ 5,212 $ 5,613 $ 4,310 $ 122,690 $ - $ - $ 138,779 Pass 463,742 304,780 223,464 265,239 194,982 4,660,880 - - 6,113,087 Total mortgage $ 463,742 $ 305,734 $ 228,676 $ 270,852 $ 199,292 $ 4,783,570 $ - $ - $ 6,251,866 Leasing Substandard $ 124 $ 618 $ 880 $ 613 $ 613 $ 235 $ - $ - $ 3,083 Loss - - - 1 16 2 - - 19 Pass 613,452 328,085 222,770 133,112 62,881 17,917 - - 1,378,217 Total leasing $ 613,576 $ 328,703 $ 223,650 $ 133,726 $ 63,510 $ 18,154 $ - $ - $ 1,381,319 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total BPPR Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 8,577 $ - $ 8,577 Pass - - - - - - 911,274 - 911,274 Total credit cards $ - $ - $ - $ - $ - $ - $ 919,851 $ - $ 919,851 HELOCs Substandard $ - $ - $ - $ - $ - $ - $ 23 $ - $ 23 Pass - - - - - - 3,548 - 3,548 Total HELOCs $ - $ - $ - $ - $ - $ - $ 3,571 $ - $ 3,571 Personal Substandard $ 426 $ 610 $ 2,105 $ 866 $ 936 $ 15,680 $ - $ 1,385 $ 22,008 Loss 30 2 3 - - 3 - - 38 Pass 539,604 197,652 227,328 91,341 53,630 120,065 - 36,394 1,266,014 Total Personal $ 540,060 $ 198,264 $ 229,436 $ 92,207 $ 54,566 $ 135,748 $ - $ 37,779 $ 1,288,060 Auto Substandard $ 3,080 $ 7,520 $ 9,498 $ 4,739 $ 2,210 $ 1,422 $ - $ - $ 28,469 Loss 42 11 - - - - - - 53 Pass 1,259,800 808,339 637,300 420,293 177,104 80,829 - - 3,383,665 Total Auto $ 1,262,922 $ 815,870 $ 646,798 $ 425,032 $ 179,314 $ 82,251 $ - $ - $ 3,412,187 Other consumer Substandard $ - $ 114 $ 21 $ 487 $ - $ 135 $ 11,250 $ - $ 12,007 Loss - - - 579 - 34 - - 613 Pass 24,845 9,781 9,348 5,610 3,914 947 57,483 - 111,928 Total Other consumer $ 24,845 $ 9,895 $ 9,369 $ 6,676 $ 3,914 $ 1,116 $ 68,733 $ - $ 124,548 Total Puerto Rico $ 4,913,112 $ 2,647,120 $ 1,898,600 $ 1,473,547 $ 749,926 $ 7,191,955 $ 1,953,343 $ 37,779 $ 20,865,382 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular U.S. Commercial: Commercial multi-family Watch $ 8,600 $ 41,348 $ 56,229 $ 20,682 $ 37,343 $ 48,753 $ - $ - $ 212,955 Special mention - 3,752 9,013 30,244 11,071 28,297 - - 82,377 Substandard - - 67,149 12,748 - 18,644 - - 98,541 Pass 422,613 241,805 201,298 144,534 46,809 352,724 4,205 - 1,413,988 Total commercial multi-family $ 431,213 $ 286,905 $ 333,689 $ 208,208 $ 95,223 $ 448,418 $ 4,205 $ - $ 1,807,861 Commercial real estate non-owner occupied Watch $ 12,716 $ 22,109 $ 42,067 $ 56,576 $ 28,604 $ 154,289 $ 780 $ - $ 317,141 Special Mention 2,939 - 3,205 7,025 10,573 15,569 - - 39,311 Substandard - 756 6,405 14,544 11,384 60,323 - - 93,412 Pass 543,667 356,071 156,925 211,432 250,516 346,606 8,386 - 1,873,603 Total commercial real estate non- owner occupied $ 559,322 $ 378,936 $ 208,602 $ 289,577 $ 301,077 $ 576,787 $ 9,166 $ - $ 2,323,467 Commercial real estate owner occupied Watch $ - $ 239 $ 7,825 $ 8,150 $ 1,676 $ 17,132 $ 4,222 $ - $ 39,244 Special Mention - - - - - 1,800 - - 1,800 Substandard - - 1,148 2,878 - 20,841 - - 24,867 Pass 129,898 46,737 34,355 23,845 26,236 63,463 3,928 - 328,462 Total commercial real estate owner occupied $ 129,898 $ 46,976 $ 43,328 $ 34,873 $ 27,912 $ 103,236 $ 8,150 $ - $ 394,373 Commercial and industrial Watch $ 3,747 $ 4,667 $ 4,292 $ 9,273 $ 5 $ 1,530 $ 3,925 $ - $ 27,439 Special Mention 2,504 7,203 670 481 59 215 8,177 - 19,309 Substandard 537 97 4,559 495 168 1,890 159 - 7,905 Loss 262 58 108 17 51 191 - - 687 Pass 273,254 339,564 211,695 191,086 115,146 339,336 284,710 - 1,754,791 Total commercial and industrial $ 280,304 $ 351,589 $ 221,324 $ 201,352 $ 115,429 $ 343,162 $ 296,971 $ - $ 1,810,131 Construction Watch $ - $ 14,300 $ 23,547 $ 28,757 $ 34,205 $ - $ - $ - $ 100,809 Special Mention - - - - - 13,622 - - 13,622 Substandard - - - 15,438 10,231 - - - 25,669 Pass 130,587 136,045 165,105 13,634 36,500 7,138 - - 489,009 Total construction $ 130,587 $ 150,345 $ 188,652 $ 57,829 $ 80,936 $ 20,760 $ - $ - $ 629,109 Mortgage Substandard $ - $ 4,338 $ 3,894 $ 967 $ 217 $ 12,680 $ - $ - $ 22,096 Pass 326,641 266,212 215,071 61,986 6,376 276,948 - - 1,153,234 Total mortgage $ 326,641 $ 270,550 $ 218,965 $ 62,953 $ 6,593 $ 289,628 $ - $ - $ 1,175,330 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular U.S. Consumer: Credit cards Pass $ - $ - $ - $ - $ - $ - $ 10 $ - $ 10 Total credit cards $ - $ - $ - $ - $ - $ - $ 10 $ - $ 10 HELOCs Substandard $ - $ - $ - $ - $ - $ 3,006 $ - $ 935 $ 3,941 Loss - - - - - 207 - 1,258 1,465 Pass - - - - - 11,423 38,267 20,195 69,885 Total HELOCs $ - $ - $ - $ - $ - $ 14,636 $ 38,267 $ 22,388 $ 75,291 Personal Substandard $ 72 $ 81 $ 250 $ 73 $ 17 $ 163 $ 2 $ - $ 658 Loss - - 4 - - 19 - - 23 Pass 75,538 19,411 43,346 7,418 2,802 5,625 124 - 154,264 Total Personal $ 75,610 $ 19,492 $ 43,600 $ 7,491 $ 2,819 $ 5,807 $ 126 $ - $ 154,945 Other consumer Pass $ - $ - $ - $ - $ - $ - $ 4,658 $ - $ 4,658 Total Other consumer $ - $ - $ - $ - $ - $ - $ 4,658 $ - $ 4,658 Total Popular U.S. $ 1,933,575 $ 1,504,793 $ 1,258,160 $ 862,283 $ 629,989 $ 1,802,434 $ 361,553 $ 22,388 $ 8,375,175 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular, Inc. Commercial: Commercial multi-family Watch $ 8,600 $ 41,348 $ 56,229 $ 20,682 $ 37,343 $ 53,238 $ - $ - $ 217,440 Special mention - 3,752 9,013 30,244 11,071 31,322 - - 85,402 Substandard - - 68,131 12,748 - 24,901 100 - 105,880 Pass 447,549 263,093 236,138 169,845 48,875 384,192 4,216 - 1,553,908 Total commercial multi-family $ 456,149 $ 308,193 $ 369,511 $ 233,519 $ 97,289 $ 493,653 $ 4,316 $ - $ 1,962,630 Commercial real estate non-owner occupied Watch $ 113,181 $ 250,961 $ 67,510 $ 193,620 $ 31,010 $ 359,593 $ 4,017 $ - $ 1,019,892 Special Mention 21,448 12,563 10,476 7,025 15,181 39,625 - - 106,318 Substandard 30,155 28,546 30,605 40,000 14,154 132,730 - - 276,190 Pass 1,056,754 444,733 245,278 249,431 293,038 903,658 18,098 - 3,210,990 Total commercial real estate non- owner occupied $ 1,221,538 $ 736,803 $ 353,869 $ 490,076 $ 353,383 $ 1,435,606 $ 22,115 $ - $ 4,613,390 Commercial real estate owner occupied Watch $ 8,393 $ 8,851 $ 16,797 $ 15,108 $ 4,715 $ 138,848 $ 4,222 $ - $ 196,934 Special Mention 5,573 857 7,598 1,427 2,449 105,272 - - 123,176 Substandard 6,960 1,028 2,794 38,407 1,869 134,129 - - 185,187 Doubtful - - - - 76 612 - - 688 Pass 368,431 245,179 79,298 46,957 58,821 493,114 20,317 - 1,312,117 Total commercial real estate owner occupied $ 389,357 $ 255,915 $ 106,487 $ 101,899 $ 67,930 $ 871,975 $ 24,539 $ - $ 1,818,102 Commercial and industrial Watch $ 190,276 $ 17,209 $ 25,828 $ 113,108 $ 14,582 $ 92,306 $ 112,108 $ - $ 565,417 Special Mention 9,884 17,139 15,526 28,954 1,071 28,663 68,574 - 169,811 Substandard 2,727 1,188 7,600 36,321 66,939 47,058 38,162 - 199,995 Doubtful - - - - - 62 - - 62 Loss 262 58 108 17 51 191 - - 687 Pass 1,116,915 674,933 487,052 275,170 187,726 673,205 987,606 - 4,402,607 Total commercial and industrial $ 1,320,064 $ 710,527 $ 536,114 $ 453,570 $ 270,369 $ 841,485 $ 1,206,450 $ - $ 5,338,579 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular, Inc. Construction Watch $ - $ 14,300 $ 23,547 $ 28,757 $ 34,205 $ - $ - $ - $ 100,809 Special Mention - - - - - 13,622 - - 13,622 Substandard - - 485 15,438 10,231 - - - 26,154 Pass 152,183 177,667 166,253 13,634 36,500 7,138 22,260 - 575,635 Total construction $ 152,183 $ 191,967 $ 190,285 $ 57,829 $ 80,936 $ 20,760 $ 22,260 $ - $ 716,220 Mortgage Substandard $ - $ 5,292 $ 9,106 $ 6,580 $ 4,527 $ 135,370 $ - $ - $ 160,875 Pass 790,383 570,992 438,535 327,225 201,358 4,937,828 - - 7,266,321 Total mortgage $ 790,383 $ 576,284 $ 447,641 $ 333,805 $ 205,885 $ 5,073,198 $ - $ - $ 7,427,196 Leasing Substandard $ 124 $ 618 $ 880 $ 613 $ 613 $ 235 $ - $ - $ 3,083 Loss - - - 1 16 2 - - 19 Pass 613,452 328,085 222,770 133,112 62,881 17,917 - - 1,378,217 Total leasing $ 613,576 $ 328,703 $ 223,650 $ 133,726 $ 63,510 $ 18,154 $ - $ - $ 1,381,319 December 31, 2021 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year (In thousands) 2021 2020 2019 2018 2017 Prior Years Total Popular, Inc. Consumer: Credit cards Substandard $ - $ - $ - $ - $ - $ - $ 8,577 $ - $ 8,577 Pass - - - - - - 911,284 - 911,284 Total credit cards $ - $ - $ - $ - $ - $ - $ 919,861 $ - $ 919,861 HELOCs Substandard $ - $ - $ - $ - $ - $ 3,006 $ 23 $ 935 $ 3,964 Loss - - - - - 207 - 1,258 1,465 Pass - - - - - 11,423 41,815 20,195 73,433 Total HELOCs $ - $ - $ - $ - $ - $ 14,636 $ 41,838 $ 22,388 $ 78,862 Personal Substandard $ 498 $ 691 $ 2,355 $ 939 $ 953 $ 15,843 $ 2 $ 1,385 $ 22,666 Loss 30 2 7 - - 22 - - 61 Pass 615,142 217,063 270,674 98,759 56,432 125,690 124 36,394 1,420,278 Total Personal $ 615,670 $ 217,756 $ 273,036 $ 99,698 $ 57,385 $ 141,555 $ 126 $ 37,779 $ 1,443,005 Auto Substandard $ 3,080 $ 7,520 $ 9,498 $ 4,739 $ 2,210 $ 1,422 $ - $ - $ 28,469 Loss 42 11 - - - - - - 53 Pass 1,259,800 808,339 637,300 420,293 177,104 80,829 - - 3,383,665 Total Auto $ 1,262,922 $ 815,870 $ 646,798 $ 425,032 $ 179,314 $ 82,251 $ - $ - $ 3,412,187 Other consumer Substandard $ - $ 114 $ 21 $ 487 $ - $ 135 $ 11,250 $ - $ 12,007 Loss - - - 579 - 34 - - 613 Pass 24,845 9,781 9,348 5,610 3,914 947 62,141 - 116,586 Total Other consumer $ 24,845 $ 9,895 $ 9,369 $ 6,676 $ 3,914 $ 1,116 $ 73,391 $ - $ 129,206 Total Popular Inc. $ 6,846,687 $ 4,151,913 $ 3,156,760 $ 2,335,830 $ 1,379,915 $ 8,994,389 $ 2,314,896 $ 60,167 $ 29,240,557 |
Mortgage banking activities (Ta
Mortgage banking activities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Mortgage Banking [Abstract] | |
Mortgage Banking Activities | Years ended December (In thousands) 2022 2021 2020 Mortgage servicing fees, net of fair value adjustments: Mortgage servicing fees $ 36,487 $ 38,105 $ 43,234 Mortgage servicing rights fair value adjustments 236 (10,206) (42,055) Total mortgage 36,723 27,899 1,179 Net (loss) gain on sale of loans, including valuation on (251) 21,684 31,215 Trading account profit (loss): Realized gains (losses) on closed derivative positions 6,635 1,323 (10,586) Total trading account 6,635 1,323 (10,586) Losses on repurchased loans, including interest advances [1] (657) (773) (11,407) Total mortgage $ 42,450 $ 50,133 $ 10,401 [1] The Corporation, from time to time, repurchases delinquent may incur in losses related to previously advanced interest repurchased $ 687.9 10.5 the quarter ended September 30, 2020, the Corporation were previously presented within the indemnity reserves on loans |
Transfers of financial assets_2
Transfers of financial assets and mortgage servicing assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Transfers and Servicing of Financial Assets | |
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | Proceeds Obtained During the Year (In thousands) Level 1 Level 2 Level 3 Initial fair value Assets Trading account debt securities: Mortgage-backed securities - GNMA $ - $ 169,352 $ - $ 169,352 Mortgage-backed securities - FNMA - 122,422 - 122,422 Mortgage-backed securities - FHLMC - 8,505 - 8,505 Total trading account $ - $ 300,279 $ - $ 300,279 Mortgage servicing rights $ - $ - $ 5,318 $ 5,318 Total $ - $ 300,279 $ 5,318 $ 305,597 Proceeds Obtained During the Year (In thousands) Level 1 Level 2 Level 3 Initial fair value Assets Trading account debt securities: Mortgage-backed securities - GNMA $ - $ 380,228 $ - $ 380,228 Mortgage-backed securities - FNMA - 329,617 - 329,617 Mortgage-backed securities - FHLMC - 22,688 - 22,688 Total trading account $ - $ 732,533 $ - $ 732,533 Mortgage servicing rights $ - $ - $ 11,314 $ 11,314 Total $ - $ 732,533 $ 11,314 $ 743,847 |
Changes in MSRs measured using the fair value method | Residential MSRs (In thousands) December 31, 2022 December 31, 2021 Fair value at beginning of period $ 121,570 $ 118,395 Additions 6,614 13,391 Changes due to payments on loans (11,063) (15,383) Reduction due to loan repurchases (779) (1,233) Changes in fair value due to changes in valuation model inputs 12,845 6,410 Other (837) (10) Fair value at end of period $ 128,350 $ 121,570 [1] Represents changes due to collection / realization [2] At December 31, 2022, PB had MSRs amounting to $ 2.0 1.6 |
Key economic assumptions used in measuring the servicing rights retained at the date of the residential mortgage loan securitizations and whole loan sales by the banking subsidiaries | Years ended December 31, 2022 December 31, 2021 BPPR PB BPPR PB Prepayment speed 5.4 % 8.1 % 6.8 % 19.0 % Weighted average life (in years) 9.5 7.8 8.3 20.9 Discount rate (annual rate) 10.5 % 9.9 % 10.5 % 10.7 % |
Key economic assumptions used to estimate the fair value of MSRs derived from sales and securitizations of mortgage loans performed by the banking subsidiaries and servicing rights purchased from other financial institutions | Originated MSRs Purchased MSRs December 31, December 31, December 31, December 31, (In thousands) 2022 2021 2022 2021 Fair value of servicing rights $ 41,548 $ 40,058 $ 86,802 $ 81,512 Weighted average life (in years) 6.8 7.1 6.9 7.5 Weighted average prepayment speed (annual 5.9 % 7.7 % 7.0 % 7.6 % Impact on fair value of 10% adverse change $ (730) $ (1,500) $ (1,602) $ (1,486) Impact on fair value of 20% adverse change $ (1,433) $ (2,359) $ (3,143) $ (3,495) Weighted average discount rate (annual rate) 11.2 % 11.2 % 11.0 % 11.0 % Impact on fair value of 10% adverse change $ (1,485) $ (2,079) $ (3,256) $ (2,731) Impact on fair value of 20% adverse change $ (2,876) $ (3,452) $ (6,304) $ (5,832) |
Premises and equipment (Tables)
Premises and equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment | |
Premises and equipment | (In thousands) Useful life in years 2022 2021 Premises and equipment: Land $ 90,625 $ 94,246 Buildings 10 - 50 482,030 468,293 Equipment 2 - 10 388,911 374,192 Leasehold improvements 3 - 10 89,693 87,406 960,634 929,891 586,479 559,234 Subtotal 374,155 370,657 Construction in progress 33,931 29,337 Premises and equipment, net $ 498,711 $ 494,240 |
Other real estate owned (Tables
Other real estate owned (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Real Estate [Abstract] | |
Other real estate owned | For the year ended December 31, 2022 OREO OREO (In thousands) Commercial/Construction Mortgage Total Balance at beginning of period $ 15,017 $ 70,060 $ 85,077 Write-downs in value (959) (1,517) (2,476) Additions 5,787 70,069 75,856 Sales (7,453) (61,453) (68,906) Other adjustments 108 (533) (425) Ending balance $ 12,500 $ 76,626 $ 89,126 For the year ended December 31, 2021 OREO OREO (In thousands) Commercial/Construction Mortgage Total Balance at beginning of period $ 13,214 $ 69,932 $ 83,146 Write-downs in value (1,058) (2,161) (3,219) Additions 9,746 55,898 65,644 Sales (7,282) (52,666) (59,948) Other adjustments 397 (943) (546) Ending balance $ 15,017 $ 70,060 $ 85,077 For the year ended December 31, 2020 OREO OREO (In thousands) Commercial/ Construction Mortgage Total Balance at beginning of period $ 16,959 $ 105,113 $ 122,072 Write-downs in value (1,564) (3,060) (4,624) Additions 2,223 17,785 20,008 Sales (4,359) (49,797) (54,156) Other adjustments (45) (109) (154) Ending balance $ 13,214 $ 69,932 $ 83,146 |
Other assets (Tables)
Other assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Assets Abstract | |
Other Assets by Major Categories | (In thousands) December 31, 2022 December 31, 2021 Net deferred tax assets (net of valuation allowance) $ 953,676 $ 657,597 Investments under the equity method 210,001 298,988 Prepaid taxes 39,405 37,924 Other prepaid expenses 33,384 34,937 Capitalized software costs 81,862 44,908 Derivative assets 19,229 26,093 Trades receivable from brokers and counterparties 35,099 65,460 Receivables from investments maturities 125,000 - Principal, interest and escrow servicing advances 41,916 53,942 Guaranteed mortgage loan claims receivable 59,659 98,001 Operating ROU assets (Note 33) 125,573 141,748 Finance ROU assets (Note 33) 18,884 13,459 Others 104,125 155,514 Total other assets $ 1,847,813 $ 1,628,571 |
Composition of acquired or developed software costs | The following arrangements: Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Value December 31, 2022 Software development costs [1] $ 63,609 $ 16,803 $ 46,806 Software license costs 37,165 14,164 23,001 Cloud computing arrangements 20,745 8,690 12,055 Total Capitalized $ 121,519 $ 39,657 $ 81,862 December 31, 2021 Software development costs $ 40,033 $ 18,972 $ 21,061 Software license costs 168,862 154,571 14,291 Cloud computing arrangements 18,346 8,790 9,556 Total Capitalized $ 227,241 $ 182,333 $ 44,908 [1] Software development costs includes $ 28.7 [2] At December 31, 2022 the table above excludes assets which |
Amortization expense for all capitalized software and hosting arrangement cost | Total expenses in the consolidated statement of operations, Year ended December (In thousands) 2022 2021 2020 Software development and license costs $ 55,011 $ 45,577 $ 43,259 Cloud computing arrangements 3,805 3,867 2,206 Total amortization $ 58,816 $ 49,444 $ 45,465 |
Goodwill and other intangible_2
Goodwill and other intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure | |
Components of other intangible assets subject to amortization | The following table reflects the components of Gross Net Carrying Accumulated Carrying (In thousands) Amount Amortization Value December 31, 2022 Core deposits $ 12,810 $ 10,034 $ 2,776 Other customer relationships 14,286 4,878 9,408 Total other intangible $ 27,096 $ 14,912 $ 12,184 December 31, 2021 Core deposits $ 12,810 $ 8,754 $ 4,056 Other customer relationships 14,286 2,883 11,403 Total other intangible $ 27,096 $ 11,637 $ 15,459 |
Estimated amortization of the intangible assets with definite useful lives | The following periods: (In thousands) Year 2023 $ 3,179 Year 2024 2,938 Year 2025 1,750 Year 2026 1,440 Year 2027 959 Later years 1,918 |
Goodwill and accumulated impairment losses by reportable segments | The segments, were as follows (refer to Note 37 for 2022 Balance at Goodwill on Goodwill Balance at (In thousands) January 1, 2022 impairment December 31, 2022 Banco Popular de Puerto Rico $ 320,248 $ 116,135 $ - $ 436,383 Popular U.S. 400,045 - (9,000) 391,045 Total Popular, $ 720,293 $ 116,135 $ (9,000) $ 827,428 2021 Balance at Goodwill on Goodwill Balance at (In thousands) January 1, 2021 impairment December 31, 2021 Banco Popular de Puerto Rico $ 320,248 $ - $ - $ 320,248 Popular U.S. 350,874 49,171 - 400,045 Total Popular, $ 671,122 $ 49,171 $ - $ 720,293 The following tables present the gross amount December 31, 2022 Balance at Balance at December 31, Accumulated December 31, 2022 impairment 2022 (In thousands) losses Banco Popular de Puerto Rico $ 440,184 $ 3,801 $ 436,383 Popular U.S. 564,456 173,411 391,045 Total Popular, $ 1,004,640 $ 177,212 $ 827,428 December 31, 2021 December 31, Accumulated December 31, 2021 impairment 2021 (In thousands) losses Banco Popular de Puerto Rico $ 324,049 $ 3,801 $ 320,248 Popular U.S. 564,456 164,411 400,045 Total Popular, $ 888,505 $ 168,212 $ 720,293 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Deposits [Abstract] | |
Interest bearing deposits | (In thousands) December 31, 2022 December 31, 2021 Savings accounts $ 14,746,329 $ 15,871,998 NOW, money market and other interest 23,738,940 28,736,459 Total savings, NOW, 38,485,269 44,608,457 Certificates of deposit: Under $250,000 4,235,651 4,086,059 $250,000 and over 2,545,750 2,626,090 6,781,401 6,712,149 Total interest bearing $ 45,266,670 $ 51,320,606 |
Summary of certificates of deposits by maturity | (In thousands) 2023 $ 3,949,235 2024 1,102,195 2025 743,799 2026 416,106 2027 486,738 2028 and thereafter 83,328 Total certificates of $ 6,781,401 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of repurchase agreements | Repurchase agreements accounted for as secured borrowings December 31, 2022 December 31, 2021 Repurchase liability Repurchase liability Repurchase Repurchase (Dollars in thousands) interest rate interest rate U.S. Treasury securities $ 410 4.40 % $ 19,538 0.30 % 30,739 3.79 30,295 0.21 17,521 4.39 29,036 0.29 Total U.S. Treasury 48,670 4.01 78,869 0.26 Mortgage-backed securities 98,984 4.27 11,733 0.26 791 3.27 - - - - 722 0.16 Total mortgage-backed 99,775 4.26 12,455 0.26 Collateralized mortgage obligations 164 4.25 279 0.25 Total collateralized 164 4.25 279 0.25 Total $ 148,609 4.18 % $ 91,603 0.26 % |
Schedule Of Maximum Aggregate Balance Average Aggregate Balance And Weighted Average Interest Rate [Text Block] | (Dollars in thousands) 2022 2021 Maximum aggregate balance outstanding at any month-end $ 162,450 $ 92,101 Average monthly aggregate balance outstanding $ 107,305 $ 91,394 Weighted average interest rate: For the year 2.15 % 0.35 % At December 31 4.23 % 0.26 % The following table presents additional information the years ended December 31, 2022 and December (Dollars in thousands) 2022 2021 Maximum aggregate balance outstanding at any month-end $ 375,000 $ 75,000 Average monthly aggregate balance outstanding $ 99,083 $ 343 Weighted average interest rate: For the year 3.46 % 0.35 % At December 31 4.47 % 0.35 % |
Notes payable | Notes Payable The following table presents the composition of notes (In thousands) December 31, 2022 December 31, 2021 Advances with the FHLB with maturities ranging from 2023 2029 fixed rates ranging from 0.39 % to 3.18 % 0.39 % to 3.18 %) $ 389,282 $ 492,429 Unsecured senior debt securities maturing on September 2023 semiannually rate of 6.125 %, net of debt issuance costs of $ 891 2,158 ) 299,109 297,842 Junior subordinated deferrable interest debentures (related to 2034 6.125 % to 6.564 % (2021 - 6.125 % to 6.564 %), net of debt issuance costs of $ 315 342 ) 198,319 198,292 Total notes payable $ 886,710 $ 988,563 |
Borrowings by contractual maturities | A breakdown of borrowings by contractual maturities Assets sold under Short-term (In thousands) agreements to repurchase borrowings Notes payable Total 2023 $ 148,609 $ 365,000 $ 342,370 $ 855,979 2024 - - 91,944 91,944 2025 - - 139,920 139,920 2026 - - 74,500 74,500 Later years - - 237,976 237,976 Total borrowings $ 148,609 $ 365,000 $ 886,710 $ 1,400,319 |
Trust preferred securities (Tab
Trust preferred securities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Trust preferred securities [Abstract] | |
Schedule Of Financial Data Pertaining To Different Trusts [Table Text Block] | The following table presents financial data pertaining (Dollars in thousands) December 31, 2022 and 2021 Popular North America Popular Issuer Capital Trust I Capital Trust Il Capital securities $ 91,651 $ 101,023 Distribution rate 6.564 % 6.125 % Common securities $ 2,835 $ 3,125 Junior subordinated debentures aggregate liquidation amount $ 94,486 $ 104,148 Stated maturity date September 2034 December 2034 Reference notes [1],[3],[5] [2],[4],[5] [1] Statutory business trust that is wholly-owned by [2] Statutory business trust that is wholly-owned by [3] The obligation of PNA under the junior subordinated guaranteed on a subordinated basis by the Corporation [4] These capital securities are fully and unconditionally guaranteed agreement. [5] The Corporation has the right, subject to any required occurrence of certain events mentioned below, accrued and unpaid interest to the date of redemption. The Corporation prior to their stated maturity dates (i) on or in part from time to time, or (ii) in whole, but not in part, an investment company event or a capital treatment event regulatory approval. |
Other liabilities (Tables)
Other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Liabilities Disclosure [Abstract] | |
Other Liabilities Table Text Block | (In thousands) December 31, 2022 December 31, 2021 Accrued expenses $ 337,284 $ 308,594 Accrued interest payable 39,288 33,227 Accounts payable 76,456 91,804 Dividends payable 39,525 35,937 Trades payable 9,461 13,789 Liability for GNMA loans sold with an option to repurchase 14,271 12,806 Reserves for loan indemnifications 7,520 12,639 Reserve for operational losses 39,266 43,886 Operating lease liabilities (Note 33) 137,290 154,114 Finance lease liabilities (Note 33) 24,737 19,719 Pension benefit obligation 8,290 8,778 Postretirement benefit obligation 118,336 161,988 Others 65,222 70,967 Total other liabilities $ 916,946 $ 968,248 |
Regulatory capital requiremen_2
Regulatory capital requirements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Regulatory Capital Requirements Additional Information [Abstract] | |
Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations | Actual Capital adequacy minimum requirement (including conservation capital buffer) [1] (Dollars in thousands) Amount Ratio Amount Ratio 2022 Total Capital (to Risk-Weighted Corporation $ 6,285,648 18.26 % $ 3,613,668 10.500 % BPPR 4,541,915 18.34 2,599,872 10.500 PB 1,463,511 15.59 985,510 10.500 Common Equity Tier I Capital (to Risk-Weighted Corporation $ 5,639,686 16.39 % $ 2,409,112 7.000 % BPPR 4,230,820 17.09 1,733,248 7.000 PB 1,395,272 14.87 657,007 7.000 Tier I Capital (to Risk-Weighted Assets): Corporation $ 5,661,829 16.45 % $ 2,925,351 8.500 % BPPR 4,230,820 17.09 2,104,658 8.500 PB 1,395,272 14.87 797,794 8.500 Tier I Capital (to Average Assets): Corporation $ 5,661,829 8.06 % $ 2,811,504 4 % BPPR 4,230,820 7.10 2,383,478 4 PB 1,395,272 13.08 426,832 4 [1] The conservation capital buffer included for these 2.5 %, except for the Tier I to Average and therefore the capital adequacy minimum of 4 % is presented. Actual Capital adequacy minimum requirement (including conservation capital buffer) (Dollars in thousands) Amount Ratio Amount Ratio 2021 Total Capital (to Risk-Weighted Corporation $ 6,084,105 19.35 % $ 3,301,329 10.500 % BPPR 4,281,930 18.92 2,376,184 10.500 PB 1,361,911 16.78 852,032 10.500 Common Equity Tier I Capital (to Risk-Weighted Corporation $ 5,476,031 17.42 % $ 2,200,886 7.000 % BPPR 3,998,102 17.67 1,584,123 7.000 PB 1,309,398 16.14 568,021 7.000 Tier I Capital (to Risk-Weighted Assets): Corporation $ 5,498,174 17.49 % $ 2,672,504 8.500 % BPPR 3,998,102 17.67 1,923,577 8.500 PB 1,309,398 16.14 689,740 8.500 Tier I Capital (to Average Assets): Corporation $ 5,498,174 7.41 % $ 2,969,535 4 % BPPR 3,998,102 6.24 2,561,003 4 PB 1,309,398 13.44 389,736 4 |
Schedule Of Minimum Amount And Ratios To Be Categorized As Well Capitalized | 2022 2021 (Dollars in thousands) Amount Ratio Amount Ratio Total Capital (to Risk-Weighted BPPR $ 2,476,068 10 % $ 2,263,032 10 % PB 938,581 10 811,459 10 Common Equity Tier I Capital (to Risk-Weighted BPPR $ 1,609,444 6.5 % $ 1,470,971 6.5 % PB 610,078 6.5 527,448 6.5 Tier I Capital (to Risk-Weighted Assets): BPPR $ 1,980,855 8 % $ 1,810,426 8 % PB 750,865 8 649,167 8 Tier I Capital (to Average Assets): BPPR $ 2,979,348 5 % $ 3,201,254 5 % PB 533,540 5 487,171 5 |
Other comprehensive (loss) in_2
Other comprehensive (loss) income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accumulated Other Comprehensive Income (Loss) | |
Schedule of accumulated other comprehensive income | Changes in Accumulated Other Comprehensive (Loss) Income Years ended December (In thousands) 2022 2021 2020 Foreign currency translation Beginning Balance $ (67,307) $ (71,254) $ (56,783) Other comprehensive income (loss) 10,572 3,947 (14,471) Net change 10,572 3,947 (14,471) Ending balance $ (56,735) $ (67,307) $ (71,254) Adjustment of pension and postretirement benefit plans Beginning Balance $ (158,994) $ (195,056) $ (202,816) Other comprehensive income (loss) before reclassifications 4,882 23,094 (5,645) Amounts reclassified from accumulated other comprehensive loss amortization of net losses 9,777 12,968 13,405 Net change 14,659 36,062 7,760 Ending balance $ (144,335) $ (158,994) $ (195,056) Unrealized net holding (losses) gains on debt securities Beginning Balance $ (96,120) $ 460,900 $ 92,155 Other comprehensive (loss) income before reclassifications (2,261,097) (557,002) 368,780 Amounts reclassified from accumulated other comprehensive income for gains on securities - (18) (35) Amounts reclassified from accumulated other comprehensive income for amortization of net unrealized losses of debt securities transferred from available-for-sale to held-to-maturity 33,314 - - Net change (2,227,783) (557,020) 368,745 Ending balance $ (2,323,903) $ (96,120) $ 460,900 Unrealized net gains (losses) on cash flow hedges Beginning Balance $ (2,648) $ (4,599) $ (2,494) Other comprehensive income (loss) before reclassifications 3,107 367 (6,400) Amounts reclassified from accumulated other comprehensive income (loss) (414) 1,584 4,295 Net change 2,693 1,951 (2,105) Ending balance $ 45 $ (2,648) $ (4,599) Total $ (2,524,928) $ (325,069) $ 189,991 [1] All amounts presented are net of tax. |
Reclassification out of accumulated other comprehensive income | Reclassifications Out of Accumulated Other Comprehensive Affected Line Item in the Years ended December (In thousands) Consolidated Statements of Operations 2022 2021 2020 Adjustment of pension and postretirement benefit plans Amortization of net losses Other operating expenses $ (15,644) $ (20,749) $ (21,447) Total before tax (15,644) (20,749) (21,447) Income tax benefit 5,867 7,781 8,042 Total net of tax $ (9,777) $ (12,968) $ (13,405) Unrealized net holding (losses) gains on debt securities Realized gain on sale of debt securities Net gain (loss) on sale of debt securities $ - $ 23 $ 41 Amortization of unrealized net losses of debt securities transferred to held-to-maturity Investment securities [1] (41,642) - - Total before tax (41,642) 23 41 Income tax benefit (expense) 8,328 (5) (6) Total net of tax $ (33,314) $ 18 $ 35 Unrealized net gains (losses) losses on cash flow hedges Forward contracts Mortgage banking activities $ 1,458 $ (704) $ (5,559) Interest rate swaps Other operating income (498) (1,143) (820) Total before tax 960 (1,847) (6,379) Income tax (expense) benefit (546) 263 2,084 Total net of tax $ 414 $ (1,584) $ (4,295) Total reclassification $ (42,677) $ (14,534) $ (17,665) [1] In October 2022, the Corporation transferred U.S. Treasury 6.5 7.4 sale portfolio to its held-to-maturity portfolio. Refer to Note 7 to |
Guarantees (Tables)
Guarantees (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Guarantee on loans sold or serviced with credit recourse | |
Guarantor Obligations [Line Items] | |
Credit recourse agreements reserve | The following estimated losses from years ended December 31, 2022 and 2021. Years ended December (In thousands) 2022 2021 Balance as of beginning of period $ 11,800 $ 22,484 Provision (benefit) for recourse liability (1,715) (2,948) Net charge-offs (3,188) (7,736) Balance as of end of period $ 6,897 $ 11,800 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure | |
Financial Instruments with Off-Balance Sheet Credit Risk, Whose Contract Amounts Represent Potential Credit Risk | Financial instruments with periods presented were as follows: (In thousands) December 31, 2022 December 31, 2021 Commitments to extend credit: Credit card lines $ 5,853,990 $ 5,382,089 Commercial and construction lines of credit 4,425,825 3,830,601 Other consumer unused credit commitments 250,271 250,229 Commercial letters of credit 3,351 3,260 Standby letters of credit 27,868 27,848 Commitments to originate or fund mortgage loans 45,170 95,372 |
Direct exposure to the Puerto Rico government by maturity | The following table details the loans and investments representing the Corporation’s direct exposure to according to their maturities as of December 31, 2022: (In thousands) Investment Portfolio Loans Total Outstanding Total Exposure Central Government After 1 to 5 years $ 12 $ - $ 12 $ 12 After 5 to 10 years 1 - 1 1 After 10 years 29 - 29 29 Total Central 42 - 42 42 Municipalities Within 1 year 4,530 20,243 24,773 42,962 After 1 to 5 years 19,105 101,009 120,114 149,114 After 5 to 10 years 1,025 131,202 132,227 132,227 After 10 years - 49,831 49,831 49,831 Total Municipalities 24,660 302,285 326,945 374,134 Total Direct Government $ 24,702 $ 302,285 $ 326,987 $ 374,176 |
Non-consolidated variable int_2
Non-consolidated variable interest entities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Variable Interest Entity | |
Carrying Amount and Classification of Assets Related to the Corporation's Variable Interests in Non-Consolidated VIEs and Maximum Exposure to Loss | (In thousands) December 31, 2022 December 31, 2021 Assets Servicing assets: Mortgage servicing rights $ 99,614 $ 94,464 Total servicing $ 99,614 $ 94,464 Other assets: Servicing advances $ 6,157 $ 7,968 Total other assets $ 6,157 $ 7,968 Total assets $ 105,771 $ 102,432 Maximum exposure to loss $ 105,771 $ 102,432 |
Derivative Instruments and he_3
Derivative Instruments and hedging activities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure | |
Financial instruments designated as cash flow hedges or non-hedging derivatives outstanding | Notional amount Derivative assets Derivative liabilities Statement of Fair value at Statement of Fair value at At December 31, condition December 31, condition December 31, (In thousands) 2022 2021 classification 2022 2021 classification 2022 2021 Derivatives designated as Forward contracts $ 15,100 $ 87,900 Other assets $ 93 $ 18 Other liabilities $ 22 $ 125 Total derivatives designated $ 15,100 $ 87,900 $ 93 $ 18 $ 22 $ 125 Derivatives not designated Interest rate caps $ 150,000 $ 27,866 Other assets $ 1,045 $ - Other liabilities $ 1,045 $ - Indexed options on deposits 85,414 79,114 Other assets 18,091 26,075 - - - Bifurcated embedded options 78,972 72,352 - - - Interest bearing deposits 15,933 22,753 Total derivatives not $ 314,386 $ 179,332 $ 19,136 $ 26,075 $ 16,978 $ 22,753 Total derivative assets $ 329,486 $ 267,232 $ 19,229 $ 26,093 $ 17,000 $ 22,878 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | Year ended December (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ 1,636 Mortgage banking activities $ 1,458 $ - Total $ 1,636 $ 1,458 $ - Year ended December (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ 456 Mortgage banking activities $ (704) $ - Total $ 456 $ (704) $ - Year ended December (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ (6,594) Mortgage banking activities $ (5,559) $ - Total $ (6,594) $ (5,559) $ - |
Amount of Net Gain (Loss) Recognized in Income on Derivatives | Amount of Net Gain (Loss) Recognized in Income on Derivatives Year ended Year ended Year ended Classification of Net Gain (Loss) December 31, December 31, December 31, (In thousands) Recognized in Income on Derivatives 2022 2021 2020 Forward contracts Mortgage banking activities $ 8,094 $ 2,027 $ (5,027) Indexed options on deposits Interest expense (5,290) 6,824 5,462 Bifurcated embedded options Interest expense 4,942 (6,538) (3,417) Total $ 7,746 $ 2,313 $ (2,982) |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Related party transactions | (In thousands) Balance at December 31, 2020 $ 124,891 New loans 3,182 Payments (28,208) Other changes, including existing loans to new related parties 2,714 Balance at December 31, 2021 $ 102,579 New loans 11,090 Payments (15,402) Other changes, including existing loans to new related parties 27,070 Balance at December 31, 2022 $ 125,337 New loans and payments include disbursements and collections |
EVERTEC Inc. | |
Proportionate Share Of Income Loss And Changes In Stockholders Equity | Years ended December (In thousands) 2022 2021 2020 Share of Evertec income and Gain from the Evertec Transactions and related accounting adjustments $ 269,539 $ 26,096 $ 16,936 Share of other changes in Evertec's stockholders' equity 3,168 53 865 Share of Evertec's changes in equity recognized in income Gain from the Evertec Transaction and adjustments $ 272,707 $ 26,149 $ 17,801 [1] consolidated 17.3 connection with the Business Acquisition Transaction. |
Income Statement Data Resulting From Related Party Transactions | Years ended December (In thousands) 2022 [1] 2021 2020 Category Interest expense on deposits $ (267) $ (388) $ (315) Interest expense ATH and credit cards interchange 13,955 27,384 22,406 Other service fees Rental income charged to Evertec 3,258 6,593 7,305 Net occupancy Fees on services provided by Evertec (128,681) (245,945) (223,069) Professional fees Other services provided to Evertec 420 740 1,002 Other operating expenses Total $ (111,315) $ (211,616) $ (192,671) [1] Includes activity through June 30, 2022. |
Fair value measurement (Tables)
Fair value measurement (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | At December 31, 2022 (In thousands) Level 1 Level 2 Level 3 Measured at NAV Total RECURRING FAIR VALUE Assets Debt securities available-for-sale: U.S. Treasury securities $ 1,908,589 $ 9,272,359 $ - $ - $ 11,180,948 Collateralized mortgage obligations - federal agencies - 165,196 - - 165,196 Mortgage-backed securities - 6,456,459 711 - 6,457,170 Other - 60 1,000 - 1,060 Total debt securities $ 1,908,589 $ 15,894,074 $ 1,711 $ - $ 17,804,374 Trading account debt securities, excluding derivatives: U.S. Treasury securities $ 13,069 $ - $ - $ - $ 13,069 Obligations of Puerto Rico, States and political subdivisions - 64 - - 64 Collateralized mortgage obligations - 47 113 - 160 Mortgage-backed securities - 14,008 215 - 14,223 Other - - 207 - 207 Total trading account derivatives $ 13,069 $ 14,119 $ 535 $ - $ 27,723 Equity securities $ - $ 29,302 $ - $ 330 $ 29,632 Mortgage servicing rights - - 128,350 - 128,350 Derivatives - 19,229 - - 19,229 Total assets measured recurring basis $ 1,921,658 $ 15,956,724 $ 130,596 $ 330 $ 18,009,308 Liabilities Derivatives $ - $ (17,000) $ - $ - $ (17,000) Total liabilities measured recurring basis $ - $ (17,000) $ - $ - $ (17,000) At December 31, 2021 (In thousands) Level 1 Level 2 Level 3 Measured at NAV Total RECURRING FAIR VALUE Assets Debt securities available-for-sale: U.S. Treasury securities $ - $ 15,859,030 $ - $ - $ 15,859,030 Obligations of U.S. Government entities - 70 - - 70 Collateralized mortgage obligations - federal agencies - 221,265 - - 221,265 Mortgage-backed securities - 8,886,950 826 - 8,887,776 Other - 128 - - 128 Total debt securities $ - $ 24,967,443 $ 826 $ - $ 24,968,269 Trading account debt securities, excluding derivatives: U.S. Treasury securities $ 6,530 $ - $ - $ - $ 6,530 Obligations of Puerto Rico, States and political subdivisions - 85 - - 85 Collateralized mortgage obligations - 59 198 - 257 Mortgage-backed securities - 22,559 - - 22,559 Other - - 280 - 280 Total trading account derivatives $ 6,530 $ 22,703 $ 478 $ - $ 29,711 Equity securities $ - $ 32,429 $ - $ 77 $ 32,506 Mortgage servicing rights - - 121,570 - 121,570 Derivatives - 26,093 - - 26,093 Total assets measured recurring basis $ 6,530 $ 25,048,668 $ 122,874 $ 77 $ 25,178,149 Liabilities Derivatives $ - $ (22,878) $ - $ - $ (22,878) Contingent consideration - - (9,241) - (9,241) Total liabilities measured recurring basis $ - $ (22,878) $ (9,241) $ - $ (32,119) |
Nonrecurring fair value measurements | Year ended December (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE Assets Write-downs Loans [1] $ - $ - $ 11,215 $ 11,215 $ (2,067) Other real estate owned [2] - - 3,992 3,992 (1,026) Other foreclosed assets [2] - - 13 13 (1) Long-lived assets held-for-sale [3] - - 1,178 1,178 (2,155) Total assets measured $ - $ - $ 16,398 $ 16,398 $ (5,249) [1] Relates mainly to certain impaired collateral dependent loans. derived from appraisals that take into consideration prices excluded from the reported fair value amount. [2] Represents the fair value of foreclosed real estate and excluded from the reported fair value amount. [3] Represents the fair value of long-lived assets held-for-sale Year ended December (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE Assets Write-downs Loans [1] $ - $ - $ 21,167 $ 21,167 $ (3,721) Other real estate owned [2] - - 7,727 7,727 (1,579) Other foreclosed assets [2] - - 68 68 (33) Long-lived assets held-for-sale [3] - - 9,007 9,007 (5,320) Trademark [4] - - 156 156 (5,404) Total assets measured $ - $ - $ 38,125 $ 38,125 $ (16,057) [1] Relates mainly to certain impaired collateral dependent loans. derived from appraisals that take into consideration prices excluded from the reported fair value amount. [2] Represents the fair value of foreclosed real estate and excluded from the reported fair value amount. [3] Represents the fair value of long-lived assets held-for-sale [4] Represents the fair value of a trademark due to a write-down Year ended December (In thousands) Level 1 Level 2 Level 3 Total NONRECURRING FAIR VALUE Assets Write-downs Loans [1] $ - $ - $ 74,511 $ 74,511 $ (15,290) Loans held-for-sale [2] - - 2,738 2,738 (1,311) Other real estate owned [3] - - 20,123 20,123 (3,325) Other foreclosed assets [3] - - 116 116 (148) ROU assets [4] - - 446 446 (15,920) Leasehold improvements [4] - - 126 126 (2,084) Total assets measured $ - $ - $ 98,060 $ 98,060 $ (38,078) [1] Relates mostly to certain impaired collateral dependent loans. is derived from appraisals that take into consideration excluded from the reported fair value amount. [2] Relates to a quarterly valuation on loans held-for-sale. [3] Represents the fair value of foreclosed real estate and excluded from the reported fair value amount. [4] The impairment was measured based on the sublease Metro Branch network. |
Assets measured on recurring basis, unobservable input reconciliation | Year ended December MBS Other classified classified CMOs MBS Other as debt as debt classified classified securities securities securities as trading as trading classified as Mortgage available- available- account debt account debt trading account servicing Total Contingent Total (In thousands) for-sale for-sale securities securities debt securities rights assets Consideration liabilities Balance at January 1, $ 826 $ - $ 198 $ - $ 280 $ 121,570 $ 122,874 $ (9,241) $ (9,241) Gains (losses) included in earnings - - (2) 4 (73) 166 95 9,241 9,241 Gains (losses) included in OCI (15) - - - - - (15) - - Additions - 1,000 5 211 - 6,614 7,830 - - Settlements (100) - (88) - - - (188) - - Balance at December 31, 2022 $ 711 $ 1,000 $ 113 $ 215 $ 207 $ 128,350 $ 130,596 $ - $ - Changes in unrealized gains (losses) included in earnings relating to assets still held at December 31, 2022 $ - $ - $ (2) $ 4 $ (23) $ 11,964 $ 11,943 $ - $ - Year ended December MBS Other classified CMOs securities as debt classified classified securities as trading as trading Mortgage available- account debt account debt servicing Total Contingent Total (In thousands) for-sale securities securities rights assets Consideration liabilities Balance at January 1, 2021 $ 1,014 $ 278 $ 381 $ 118,395 $ 120,068 $ - $ - Gains (losses) included in earnings - (1) (101) (10,216) (10,318) - - Gains (losses) included in OCI (13) - - - (13) - - Additions - 29 - 13,391 13,419 (9,241) (9,241) Settlements (175) (107) - - (282) - - Balance at December 31, 2021 $ 826 $ 198 $ 280 $ 121,570 $ 122,874 $ (9,241) $ (9,241) Changes in unrealized gains (losses) included in earnings relating to assets still held at December 31, 2021 $ - $ (1) $ (45) $ 6,410 $ 6,364 $ - $ - Year ended December MBS Other classified CMOs securities as debt classified classified securities as trading as trading Mortgage available- account debt account debt servicing Total (In thousands) for-sale securities securities rights assets Balance at January 1, $ 1,182 $ 530 $ 440 $ 150,906 $ 153,058 Gains (losses) included in earnings - (1) (59) (42,055) (42,115) Gains (losses) included in OCI (18) - - - (18) Additions - 4 - 9,544 9,548 Settlements (150) (255) - - (405) Balance at December 31, 2020 $ 1,014 $ 278 $ 381 $ 118,395 $ 120,068 Changes in unrealized gains (losses) included in earnings held at December 31, 2020 $ - $ - $ 27 $ (19,327) $ (19,300) |
Gain (loss) included in earnings, measured on recurring basis | 2022 2021 2020 Total Changes in unrealized Total Changes in unrealized Total Changes in unrealized gains (losses) gains (losses) gains (losses) gains (losses) gains (losses) gains (losses) included relating to assets still included relating to assets still included relating to assets still (In thousands) in earnings held at reporting date in earnings held at reporting date in earnings held at reporting date Mortgage banking activities $ 166 $ 11,964 $ (10,216) $ 6,410 $ (42,055) $ (19,327) Trading account (loss) profit (71) (21) (102) (46) (60) 27 Other operating income 9,241 - - - - - Total $ 9,336 $ 11,943 $ (10,318) $ 6,364 $ (42,115) $ (19,300) |
Fair value measurements, recurring and nonrecurring valuation techniques | Fair value at (In thousands) 2022 Valuation technique Unobservable inputs Weighted average (range) [1] CMO's - trading $ 113 Discounted cash flow model Weighted average life 0.4 0.1 0.6 Yield 4.9 % ( 4.9 % - 5.4 %) Prepayment speed 10.2 % ( 9.1 % - 32 %) Other - trading $ 207 Discounted cash flow model Weighted average life 2.5 Yield 12.0% Prepayment speed 10.8% Loans held-in-portfolio $ 5,087 [2] External appraisal Haircut applied on external appraisals 8.3 % ( 5.0 % - 10.4 %) Other real estate owned $ 528 [3] External appraisal Haircut applied on external appraisals 18.4 % ( 5.0 % - 35 %) [1] Weighted average of significant unobservable inputs [2] Loans held-in-portfolio in which haircuts were not applied [3] Other real estate owned in which haircuts were not applied Fair value at (In thousands) 2021 Valuation technique Unobservable inputs Weighted average (range) [1] CMO's - trading $ 198 Discounted cash flow model Weighted average life 0.8 0.4 1 Yield 3.6 % ( 3.6 % - 4.1 %) Prepayment speed 11.4 % ( 10.1 % - 17.2 %) Other - trading $ 280 Discounted cash flow model Weighted average life 2.9 Yield 12.0% Prepayment speed 10.8% Loans held-in-portfolio $ 20,041 [2] External appraisal Haircut applied on external appraisals 5 .0% Other real estate owned $ 3,631 [3] External appraisal Haircut applied on external appraisals 22.3 % ( 5.0 % - 35.0 %) [1] Weighted average of significant unobservable inputs [2] Loans held-in-portfolio in which haircuts were not applied [3] Other real estate owned in which haircuts were not applied |
Fair value of financial instr_2
Fair value of financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures | |
Carrying or Notional Amounts and Estimated Fair Values for Financial Instruments | The following tables present the the fair estimate of the underlying value of the Corporation. December 31, 2022 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Assets: Cash and due from banks $ 469,501 $ 469,501 $ - $ - $ - $ 469,501 Money market investments 5,614,595 5,607,937 6,658 - - 5,614,595 Trading account debt securities, excluding [1] 27,723 13,069 14,119 535 - 27,723 Debt securities available-for-sale [1] 17,804,374 1,908,589 15,894,074 1,711 - 17,804,374 Debt securities held-to-maturity: U.S. Treasury securities $ 8,453,467 $ - $ 8,372,601 $ - $ - $ 8,372,601 Obligations of Puerto Rico, States and political subdivisions 59,010 - - 61,617 - 61,617 Collateralized mortgage obligation-federal agency 19 - - 19 - 19 Securities in wholly owned statutory business trusts 5,959 - 5,959 - - 5,959 Total debt securities $ 8,518,455 $ - $ 8,378,560 $ 61,636 $ - $ 8,440,196 Equity securities: FHLB stock $ 65,861 $ - $ 65,861 $ - $ - $ 65,861 FRB stock 96,206 - 96,206 - - 96,206 Other investments 33,787 - 29,302 4,966 330 34,598 Total equity securities $ 195,854 $ - $ 191,369 $ 4,966 $ 330 $ 196,665 Loans held-for-sale $ 5,381 $ - $ - $ 5,404 $ - $ 5,404 Loans held-in-portfolio 31,357,467 - - 29,366,365 - 29,366,365 Mortgage servicing rights 128,350 - - 128,350 - 128,350 Derivatives 19,229 - 19,229 - - 19,229 December 31, 2022 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Liabilities: Deposits: Demand deposits $ 54,445,825 $ - $ 54,445,825 $ - $ - $ 54,445,825 Time deposits 6,781,402 - 6,464,943 - - 6,464,943 Total deposits $ 61,227,227 $ - $ 60,910,768 $ - $ - $ 60,910,768 Assets sold under agreements to repurchase $ 148,609 $ - $ 148,566 $ - $ - $ 148,566 Other short-term borrowings [2] 365,000 - 365,000 - - 365,000 Notes payable: FHLB advances $ 389,282 $ - $ 361,951 $ - $ - $ 361,951 Unsecured senior debt securities 299,109 - 300,027 - - 300,027 Junior subordinated deferrable interest debentures (related to trust preferred securities) 198,319 - 173,938 - - 173,938 Total notes payable $ 886,710 $ - $ 835,916 $ - $ - $ 835,916 Derivatives $ 17,000 $ - $ 17,000 $ - $ - $ 17,000 [1] Refer to Note 28 to the Consolidated Financial Statements [2] Refer to Note 17 to the Consolidated Financial Statements December 31, 2021 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Assets: Cash and due from banks $ 428,433 $ 428,433 $ - $ - $ - $ 428,433 Money market investments 17,536,719 17,530,640 6,079 - - 17,536,719 Trading account debt securities, excluding [1] 29,711 6,530 22,703 478 - 29,711 Debt securities available-for-sale [1] 24,968,269 - 24,967,443 826 - 24,968,269 Debt securities held-to-maturity: Obligations of Puerto Rico, States and political subdivisions $ 65,380 $ - $ - $ 77,383 $ - $ 77,383 Collateralized mortgage 25 - - 25 - 25 Securities in wholly owned statutory business trusts 5,960 - 5,960 - - 5,960 Total debt securities $ 71,365 $ - $ 5,960 $ 77,408 $ - $ 83,368 Equity securities: FHLB stock $ 59,918 $ - $ 59,918 $ - $ - $ 59,918 FRB stock 96,217 - 96,217 - - 96,217 Other investments 33,842 - 32,429 3,704 77 36,210 Total equity securities $ 189,977 $ - $ 188,564 $ 3,704 $ 77 $ 192,345 Loans held-for-sale $ 59,168 $ - $ - $ 59,885 $ - $ 59,885 Loans held-in-portfolio 28,545,191 - - 27,489,583 - 27,489,583 Mortgage servicing rights 121,570 - - 121,570 - 121,570 Derivatives 26,093 - 26,093 - - 26,093 December 31, 2021 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Liabilities: Deposits: Demand deposits $ 60,292,939 $ - $ 60,292,939 $ - $ - $ 60,292,939 Time deposits 6,712,149 - 6,647,301 - - 6,647,301 Total deposits $ 67,005,088 $ - $ 66,940,240 $ - $ - $ 66,940,240 Assets sold under agreements to repurchase $ 91,603 $ - $ 91,602 $ - $ - $ 91,602 Other short-term borrowings [2] 75,000 - 75,000 - - 75,000 Notes payable: FHLB advances $ 492,429 $ - $ 496,091 $ - $ - $ 496,091 Unsecured senior debt securities 297,842 - 319,296 - - 319,296 Junior subordinated deferrable interest debentures (related to trust preferred securities) 198,292 - 201,879 - - 201,879 Total notes payable $ 988,563 $ - $ 1,017,266 $ - $ - $ 1,017,266 Derivatives $ 22,878 $ - $ 22,878 $ - $ - $ 22,878 Contingent consideration $ 9,241 $ - $ - $ 9,241 $ - $ 9,241 [1] Refer to Note 28 to the Consolidated Financial Statements [2] Refer to Note 17 to the Consolidated Financial Statements |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Employee benefits | |
Schedule Of Allocation Of Plan Assets | Minimum allotment Maximum allotment 2022 2021 Equity 0 % 70 % 27 % 30 % Debt securities 0 % 100 % 69 % 67 % Popular related securities 0 % 5 % 2 % 2 % Cash and cash equivalents 0 % 100 % 2 % 1 % 2022 2021 (In thousands) Level 1 Level 2 Level 3 Measured at NAV Total Level 1 Level 2 Level 3 Measured at NAV Total Obligations of the U.S. Government, its agencies, states and political subdivisions $ - $ 8,113 $ - $ 130,397 $ 138,510 $ - $ 9,259 $ - $ 188,377 $ 197,636 Corporate bonds and debentures - 268,641 - 6,291 274,932 - 375,875 - 8,485 384,360 Equity securities - Common Stock 32,906 - - - 32,906 41,414 - - - 41,414 Equity securities - ETF's 51,836 20,276 - - 72,112 111,365 25,446 - - 136,811 Foreign commingled trust funds - - - 64,630 64,630 - - - 82,912 82,912 Mutual fund - 3,471 - 22,106 25,577 - 5,262 - - 5,262 Private equity investments - - - - - - - 56 - 56 Cash and cash equivalents 7,637 - - - 7,637 7,523 - - - 7,523 Accrued investment income - - 3,581 - 3,581 - - 4,510 - 4,510 Total assets $ 92,379 $ 300,501 $ 3,581 $ 223,424 $ 619,885 $ 160,302 $ 415,842 $ 4,566 $ 279,774 $ 860,484 |
Schedule of changes in plan assets | (In thousands) 2022 2021 Balance at beginning of year $ 4,566 $ 3,917 Purchases, sales, issuance and settlements (net) (985) 649 Balance at end of year $ 3,581 $ 4,566 |
Schedule Of Information Popular Inc Shares Of Common Stock Held By The Plans | (In thousands, except number of shares information) 2022 2021 Shares of Popular, Inc. common stock 171,931 167,182 Fair value of shares of Popular, Inc. common $ 11,402 $ 13,716 Dividends paid on shares of Popular, $ 355 $ 280 |
Components of Net Periodic Pension/Postretirement Benefit Cost | Pension Plans OPEB Plan (In thousands) 2022 2021 2020 2022 2021 2020 (in thousands) Service cost $ - $ - $ - $ 485 $ 642 $ 713 Other operating expenses: Interest cost 19,199 15,993 23,389 3,931 3,573 4,913 Expected return on plan assets (35,388) (38,679) (38,104) - - - Recognized net actuarial loss 15,644 18,876 20,880 - 1,873 567 Net periodic benefit cost $ (545) $ (3,810) $ 6,165 $ 4,416 $ 6,088 $ 6,193 Other Adjustments - - - 60 - - Total benefit cost $ (545) $ (3,810) $ 6,165 $ 4,476 $ 6,088 $ 6,193 |
Schedule Of Aggregate Status Of The Plans And The Amounts Recognized In The Consolidated Financial Statements | Pension Plans OPEB Plan (In thousands) 2022 2021 2022 2021 Change in benefit obligation: Benefit obligation at beginning of year $ 851,471 $ 914,353 $ 159,958 $ 179,210 Service cost - - 485 642 Interest cost 19,199 15,993 3,931 3,573 Actuarial (gain)/loss [1] (194,473) (34,297) (39,479) (17,286) Benefits paid (48,022) (44,578) (6,619) (6,181) Other adjustments - - 60 - Benefit obligation at end of year $ 628,175 $ 851,471 $ 118,336 $ 159,958 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 860,484 $ 878,785 $ - $ - Actual return on plan assets (192,807) 26,049 - - Employer contributions 230 228 6,619 6,181 Benefits paid (48,022) (44,578) (6,619) (6,181) Fair value of plan assets at end of year $ 619,885 $ 860,484 $ - $ - Funded status of the plan: Benefit obligation at end of year $ (628,175) $ (851,471) $ (118,336) $ (159,958) Fair value of plan assets at end of year 619,885 860,484 - - Funded status at year end $ (8,290) $ 9,013 $ (118,336) $ (159,958) Amounts recognized in accumulated other comprehensive Net loss/(gain) 243,434 225,356 (26,486) 12,993 Accumulated other comprehensive loss (AOCL) $ 243,434 $ 225,356 $ (26,486) $ 12,993 Reconciliation of net (liabilities) assets: Net liabilities at beginning of year $ 9,013 $ (35,568) $ (159,958) $ (179,210) Amount recognized in AOCL at beginning of year, 225,356 265,899 12,993 32,152 Amount prepaid at beginning of year 234,369 230,331 (146,965) (147,058) Total benefit 545 3,810 (4,476) (6,088) Contributions 230 228 6,619 6,181 Amount prepaid at end of year 235,144 234,369 (144,822) (146,965) Amount recognized in AOCL (243,434) (225,356) 26,486 (12,993) Net asset/(liabilities) at end of year $ (8,290) $ 9,013 $ (118,336) $ (159,958) [1] For 2022, significant components of the Pension Plans single weighted-average discount rates partially offset the actuarial gain that change the benefit obligation end which was lower than expected partially offset the health care industry. related to an increase in the single weighted-average discount Plans significant components of the actuarial gain that change capita claim assumption at year-end which was lower than plans changed from age-based per capita cost to cost that |
Schedule of defined benefit plan amount recognized in other comprehensive income loss | (In thousands) Pension Plans OPEB Plan 2022 2021 2022 2021 Accumulated other comprehensive loss at beginning of year $ 225,356 $ 265,899 $ 12,993 $ 32,152 Increase (decrease) in AOCL: Recognized during the year: Amortization of actuarial losses (15,644) (18,876) - (1,873) Occurring during the year: Net actuarial (gains)/losses 33,722 (21,667) (39,479) (17,286) Total (decrease) increase 18,078 (40,543) (39,479) (19,159) Accumulated other comprehensive loss at end of year $ 243,434 $ 225,356 $ (26,486) $ 12,993 |
Schedule of Assumptions Used | Pension Plan OPEB Plan Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31: 2022 2021 2020 2022 2021 2020 Discount rate for benefit obligation 2.79 2.83 % 2.41 2.48 % 3.22 3.27 % 2.94 % 2.65 % 3.38 % Discount rate for service cost N/A N/A N/A 3.21 % 3.09 % 3.72 % Discount rate for interest cost 2.3 0 - 2.33 % 1.76 1.8 0 % 2.81 2.83 % 2.51 % 2.03 % 2.98 % Expected return on plan assets 4.3 0 - 5.40 % 4.6 0 - 5.50 % 5 .00 - 5.8 0 % N/A N/A N/A Initial health care cost trend rate N/A N/A N/A 4.75 % 5.00 % 5.00 % Ultimate health care cost trend rate N/A N/A N/A 4.50 % 4.50 % 5.00 % Year that the ultimate trend N/A N/A N/A 2023 2023 2020 Pension Plans OPEB Plan Weighted average assumptions used to determine December 31: 2022 2021 2022 2021 Discount rate for benefit obligation 5.34 - 5.37 % 2.79 - 2.83 % 5.42 % 2.94 % Initial health care cost trend rate N/A N/A 7.50 % 4.75 % Ultimate health care cost trend rate N/A N/A 4.50 % 4.50 % Year that the ultimate trend N/A N/A 2035 2023 |
Schedule of Accumulated and Projected Benefit Obligations | Pension Plans OPEB Plan (In thousands) 2022 2021 2022 2021 Projected benefit obligation $ 628,175 $ 851,471 $ 118,336 $ 159,958 Accumulated benefit obligation 628,175 851,471 118,336 159,958 Fair value of plan assets 619,885 860,484 - - |
Schedule of employer contribution to benefit plan | (In thousands) 2023 Pension Plans $ 228 OPEB Plan $ 5,924 |
Schedule of expected benefit payments | (In thousands) Pension Plans OPEB Plan 2023 $ 48,472 $ 5,924 2024 45,590 6,149 2025 45,750 6,429 2026 45,847 6,754 2027 45,843 7,053 2028 - 2032 225,107 38,873 |
Schedule Of Breakdown Postretirement Health Care Benefit Plan Liabilities | Pension Plans OPEB Plan (In thousands) 2022 2021 2022 2021 Non-current assets $ - $ 17,792 $ - $ - Current liabilities 222 227 5,779 5,959 Non-current liabilities 8,068 8,552 112,557 153,999 |
Net income per common share (Ta
Net income per common share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share | |
Computation of Net Income (Loss) Per Common Share ("EPS"), Basic and Diluted | (In thousands, except per share information) 2022 2021 2020 Net income $ 1,102,641 $ 934,889 $ 506,622 Preferred stock dividends (1,412) (1,412) (1,758) Net income applicable to common stock $ 1,101,229 $ 933,477 $ 504,864 Average common shares outstanding 75,147,263 81,263,027 85,882,371 Average potential dilutive common shares 126,740 157,127 92,888 Average common shares outstanding - assuming dilution 75,274,003 81,420,154 85,975,259 Basic EPS $ 14.65 $ 11.49 $ 5.88 Diluted EPS $ 14.63 $ 11.46 $ 5.87 |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Revenue From Contract With Customer Abstract | |
Disaggregation Of Revenue [Table Text Block] | The following table presents ended December 31, 2022, 2021 and 2020 Years ended December (In thousands) 2022 2021 2020 BPPR Popular U.S. BPPR Popular U.S. BPPR Popular U.S. Service charges on deposit accounts $ 146,073 $ 11,137 $ 151,453 $ 11,245 $ 136,703 $ 11,120 Other service fees: Debit card fees 49,297 876 47,681 956 38,685 967 Insurance fees, excluding reinsurance 40,545 5,018 40,929 3,798 35,799 2,484 Credit card fees, excluding late fees and membership 136,295 1,275 117,418 1,052 88,091 831 Sale and administration of investment products 23,553 - 23,634 - 21,755 - Trust fees 23,614 - 24,855 - 21,700 - Total revenue from [1] $ 419,377 $ 18,306 $ 405,970 $ 17,051 $ 342,733 $ 15,402 [1] The amounts include intersegment transactions of $ 5 4.1 4.3 2021 and 2020. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Lease Liability Maturity | The following table presents the undiscounted December 31, 2022 (In thousands) 2023 2024 2025 2026 2027 Later Years Total Lease Payments Less: Imputed Interest Total Operating Leases $ 29,836 $ 28,220 $ 25,301 $ 16,779 $ 11,633 $ 44,208 $ 155,977 $ (18,687) $ 137,290 Finance Leases 4,328 4,426 4,537 4,197 2,263 8,185 27,936 (3,199) 24,737 |
Leases cost | The following table presents the lease cost recognized Years ended December (In thousands) 2022 2021 2020 Finance lease cost: Amortization of ROU assets $ 2,938 $ 2,006 $ 2,215 Interest on lease liabilities 1,117 1,044 1,185 Operating lease cost 30,534 29,970 31,674 Short-term lease cost 505 647 214 Variable lease cost 124 93 51 Sublease income (37) (70) (113) Net gain recognized from sale and leaseback transaction [1] - (7,007) (5,550) Impairment of operating ROU assets [2] - - 14,805 Impairment of finance ROU assets [2] - - 1,115 Total lease cost [3] $ 35,181 $ 26,683 $ 45,596 [1] During the quarter ended September 30, 2021, the Corporation quarter ended June 30, 2020, the Corporation recognized the transactions were considered to be at fair value, no portion [2] Impairment loss recognized during the fourth quarter of realignment of PB’s New York [3] Total lease cost was included as part of other operating income. |
Leases supplemental information | The leases. Years ended December (Dollars in thousands) 2022 2021 2020 Cash paid for amounts included in the measurement of Operating cash flows from operating leases [1] $ 29,985 $ 38,288 $ 41,650 Operating cash flows from finance leases 1,117 1,044 1,185 Financing cash flows from finance leases [1] 3,346 2,852 3,145 ROU assets obtained in exchange for new lease obligations: Operating leases [2] $ 14,564 $ 24,136 $ 14,975 Finance leases 556 - 4,510 Weighted-average remaining lease term: Operating leases 7.5 years 7.9 years 8.0 years Finance leases 8.2 years 8.3 years 8.9 years Weighted-average discount rate: Operating leases 3.0 % 2.7 % 3.0 % Finance leases 4.2 % 5.0 % 5.0 % [1] During the quarter ended March 31, 2021, the Corporation made 7.8 the closure of nine branches as a result of the strategic realignment [2] During the quarter ended September 30, 2021, the Corporation 16.8 the same amount as a result of the partial leaseback of |
Stock-based compensation (Table
Stock-based compensation (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Executive Officers | |
Schedule of Unvested Restricted Stock Units Roll Forward | (Not in thousands) Shares Weighted-average grant date fair value Non-vested at January 1, 2020 345,365 $ 41.68 Granted 253,943 42.49 Performance Shares Quantity Adjustment (7) 48.79 Vested (234,421) 42.64 Forfeited (6,368) 44.26 Non-vested at December 31, 2020 358,512 $ 41.23 Granted 191,479 69.38 Performance Shares Quantity Adjustment 54,306 54.21 Vested (273,974) 55.11 Forfeited (8,440) 43.48 Non-vested at December 31, 2021 321,883 $ 47.98 Granted 194,791 84.29 Performance Shares Quantity Adjustment 6,947 78.02 Vested (240,033) 66.11 Forfeited (1,625) 78.86 Non-vested at December 31, 2022 281,963 $ 56.50 |
Directors | |
Schedule of Unvested Restricted Stock Units Roll Forward | (Not in thousands) RSU Weighted-average date fair value Non-vested at January 1, 2020 - - Granted 43,866 $ 35.47 Vested (43,866) 35.47 Forfeited - - Non-vested at December 31, 2020 - - Granted 20,638 $ 78.20 Vested (20,638) 78.20 Forfeited - - Non-vested at December 31, 2021 - - Granted 25,321 $ 77.48 Vested (25,321) 77.48 Forfeited - - Non-vested at December 31, 2022 - - |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Schedule Of Components Of Income Tax Expense Benefit | (In thousands) 2022 2021 2020 Current income tax (benefit) expense: Puerto Rico $ 156,425 $ 69,415 $ 33,281 Federal and States 9,034 10,232 3,613 165,459 79,647 36,894 Deferred income tax expense (benefit): Puerto Rico (4,373) 179,688 69,300 Federal and States (28,756) 49,683 5,744 (33,129) 229,371 75,044 Total income tax $ 132,330 $ 309,018 $ 111,938 |
Components of Deferred Tax Assets and Liabilities | December 31, 2022 PR US Total Deferred tax assets: Tax credits available $ 261 $ 2,781 $ 3,042 Net operating loss and other carryforward available 121,742 661,144 782,886 Postretirement and pension benefits 47,122 - 47,122 Allowance for credit losses 250,615 32,688 283,303 Accelerated depreciation 5,972 6,309 12,281 FDIC-assisted transaction 152,665 - 152,665 Intercompany deferred gains 1,548 - 1,548 Lease liability 28,290 23,521 51,811 Unrealized net loss on investment securities 265,955 23,913 289,868 Difference in outside basis from pass-through entities 40,602 - 40,602 Other temporary differences 29,285 7,815 37,100 Total gross deferred 944,057 758,171 1,702,228 Deferred tax liabilities: Intangibles 81,174 54,623 135,797 Right of use assets 26,015 20,262 46,277 Deferred loan origination fees/cost 1,076 2,961 4,037 Other temporary differences 24,884 - 24,884 Total gross deferred 133,149 77,846 210,995 Valuation allowance 137,863 402,333 540,196 Net deferred tax asset $ 673,045 $ 277,992 $ 951,037 PR US Total Deferred tax assets: Tax credits available $ 261 $ 2,781 $ 3,042 Net operating loss and other carryforward available 112,331 665,164 777,495 Postretirement and pension benefits 57,002 - 57,002 Deferred loan origination fees/cost 2,788 - 2,788 Allowance for credit losses 233,500 31,872 265,372 Deferred gains 1,642 - 1,642 Accelerated depreciation 5,246 7,422 12,668 FDIC-assisted transaction 152,665 - 152,665 Lease liability 31,211 23,894 55,105 Difference in outside basis from pass-through entities 54,781 - 54,781 Other temporary differences 38,512 8,418 46,930 Total gross deferred 689,939 739,551 1,429,490 Deferred tax liabilities: Intangibles 76,635 51,150 127,785 Unrealized net gain on investment securities 4,329 2,817 7,146 Right of use assets 29,025 20,282 49,307 Deferred loan origination fees/cost - 3,567 3,567 Other temporary differences 43,856 1,530 45,386 Total gross deferred 153,845 79,346 233,191 Valuation allowance 128,557 410,970 539,527 Net deferred tax asset $ 407,537 $ 249,235 $ 656,772 |
Summary Of Operating Loss Carryforwards | (In thousands) 2023 $ 1,363 2024 9,310 2025 13,516 2026 13,367 2027 15,202 2028 260,622 2029 111,307 2030 121,017 2031 122,324 2032 55,335 2033 10,565 2034 5,666 2035 43,121 2036 171 $ 782,886 |
Reconciliation of Unrecognized Tax Benefits | (In millions) Balance at January 1, 2021 $ 14.8 Reduction as a result of lapse of statute of limitations (11.3) Balance at December 31, 2021 $ 3.5 Reduction as a result of lapse of statute of limitations (1.0) Balance at December 31, 2022 $ 2.5 |
PR | |
Differences Between Income Tax Expense (Benefit) Applicable to Income Before Income Taxes and Amount Computed by Applying the Statutory Tax Rate in Puerto Rico | 2022 2021 2020 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Amount % of pre-tax income Computed income tax at statutory rates $ 463,114 38 % $ 466,465 38 % $ 231,960 38 % Benefit of net tax exempt interest income (165,065) (13) (139,426) (12) (126,232) (20) Effect of income subject to preferential tax rate (86,797) (7) (11,981) (1) (10,141) (2) Deferred tax asset valuation allowance (21,469) (2) 20,932 2 15,276 2 NOL Adjustments (34,817) (3) - - - - Difference in tax rates due to multiple jurisdictions (26,887) (2) (30,719) (3) (1,903) - Unrecognized tax benefits (1,503) - (5,484) - (2,163) - State and local taxes 14,981 1 14,629 1 4,350 - Others (9,227) (1) (5,398) - 791 - Income tax expense $ 132,330 11 % $ 309,018 25 % $ 111,938 18 % |
Supplemental disclosure on th_2
Supplemental disclosure on the consolidated statements of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Supplemental Cash Flow Information | |
Additional Disclosures on Cash Flow Information and Non-Cash Activities | (In thousands) 2022 2021 2020 Income taxes paid $ 178,808 $ 64,997 $ 13,045 Interest paid 292,491 170,442 240,342 Non-cash activities: 64,953 57,638 14,464 51,642 45,144 48,614 116,595 102,782 63,078 8,664 7,219 7,117 8,535 13,014 15,606 38,467 43,060 34,492 47,002 56,074 50,098 47,697 31,085 31,350 1,739 32,103 - 11,531 69,890 82,299 26,425 9,762 20,153 6,531,092 - - [1] 300,279 732,533 508,071 9,461 64,824 64,092 9,461 13,789 720,212 125,000 - - 6,614 13,391 9,544 9,799 19,798 24,244 17,932 35,683 29,692 28,650 - - 116,135 - - 144,785 - - [1] Includes loans securitized into trading securities and subsequently |
Reconciliation Of Cash And Due From Banks And Restricted Cash | (In thousands) December 31, 2022 December 31, 2021 December 31, 2020 Cash and due from banks $ 423,233 $ 411,346 $ 484,859 Restricted cash and due from banks 46,268 17,087 6,206 Restricted cash in money market investments 6,658 6,079 6,029 Total cash and due [2] $ 476,159 $ 434,512 $ 497,094 [2] Refer to Note 5 - Restrictions on cash and due from banks |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Table Text Block | |
Results of Operations and Total Assets | December 31, 2022 Banco Popular Intersegment (In thousands) de Puerto Rico Popular U.S. Eliminations Net interest income $ 1,823,517 $ 372,988 $ 3 Provision for credit losses 70,304 12,452 - Non-interest income 680,276 31,958 (547) Amortization of intangibles 1,937 1,338 - Goodwill impairment charge - 9,000 - Depreciation expense 47,003 6,919 - Other operating expenses 1,454,187 230,136 (543) Income tax expense 148,351 (25,205) - Net income $ 782,011 $ 170,306 $ (1) Segment assets $ 56,190,260 $ 11,558,280 $ (421,781) Reportable Total (In thousands) Corporate Eliminations Popular, Inc. Net interest income (expense) $ 2,196,508 $ (29,149) $ - $ 2,167,359 Provision for credit losses 82,756 274 - 83,030 Non-interest income 711,687 189,835 (4,460) 897,062 Amortization of intangibles 3,275 - - 3,275 Goodwill impairment charge 9,000 - - 9,000 Depreciation expense 53,922 1,185 - 55,107 Other operating expenses 1,683,780 80 (4,822) 1,679,038 Income tax expense 123,146 9,074 110 132,330 Net income $ 952,316 $ 150,073 $ 252 $ 1,102,641 Segment assets $ 67,326,759 $ 5,390,122 $ (5,078,964) $ 67,637,917 December 31, 2021 Banco Popular Intersegment (In thousands) de Puerto Rico Popular U.S. Net interest income $ 1,674,589 $ 321,154 $ 6 Provision for credit losses (benefit) (136,352) (56,897) - Non-interest income 565,310 24,518 (548) Amortization of intangibles 2,813 665 - Depreciation expense 46,539 7,415 - Other operating expenses 1,285,959 203,892 (544) Income tax expense 253,479 56,538 - Net income $ 787,461 $ 134,059 $ 2 Segment assets $ 64,336,681 $ 10,399,066 $ (31,528) Reportable Total (In thousands) Corporate Eliminations Popular, Inc. Net interest income (expense) $ 1,995,749 $ (38,159) $ - $ 1,957,590 Provision for credit losses (benefit) (193,249) (215) - (193,464) Non-interest income 589,280 56,535 (3,687) 642,128 Amortization of intangibles 3,478 5,656 - 9,134 Depreciation expense 53,954 1,150 - 55,104 Other operating expenses 1,489,307 (545) (3,725) 1,485,037 Income tax expense (benefit) 310,017 (1,085) 86 309,018 Net income $ 921,522 $ 13,415 $ (48) $ 934,889 Segment assets $ 74,704,219 $ 5,458,718 $ (5,065,038) $ 75,097,899 December 31, 2020 Banco Popular Intersegment (In thousands) de Puerto Rico Popular U.S. Net interest income $ 1,593,599 $ 302,517 $ 11 Provision for credit losses 210,955 81,486 - Non-interest income 445,893 24,285 (553) Amortization of intangibles 5,634 665 - Depreciation expense 47,890 9,558 - Other operating expenses 1,169,816 228,406 (544) Income tax expense 106,211 7,411 - Net income (loss) $ 498,986 $ (724) $ 2 Segment assets $ 55,353,626 $ 10,255,954 $ (33,935) Reportable Total (In thousands) Corporate Eliminations Popular, Inc. Net interest income (expense) $ 1,896,127 $ (39,514) $ - $ 1,856,613 Provision for credit losses 292,441 95 - 292,536 Non-interest income 469,625 46,442 (3,755) 512,312 Amortization of intangibles 6,299 98 - 6,397 Depreciation expense 57,448 1,004 - 58,452 Other operating expenses 1,397,678 (1,212) (3,486) 1,392,980 Income tax expense (benefit) 113,622 (1,560) (124) 111,938 Net income $ 498,264 $ 8,503 $ (145) $ 506,622 Segment assets $ 65,575,645 $ 5,214,439 $ (4,864,084) $ 65,926,000 |
Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area | (In thousands) 2022 2021 2020 Revenues: [1] Puerto Rico $ 2,505,988 $ 2,136,481 $ 1,921,207 United States 480,545 390,201 376,529 Other 77,888 73,036 71,189 Total consolidated $ 3,064,421 $ 2,599,718 $ 2,368,925 [1] Total revenues include of debt securities, net gain, including impairment on equity securities, loans, including valuation adjustments on loans held-for-sale, Selected Balance Sheet Information (In thousands) 2022 2021 2020 Puerto Rico Total assets $ 53,541,427 $ 63,221,282 $ 54,143,954 Loans 20,884,442 19,770,118 20,413,112 Deposits 51,138,790 57,211,608 47,586,880 United States Total assets $ 12,718,775 $ 10,986,055 $ 10,878,030 Loans 10,643,964 8,903,493 8,396,983 Deposits 8,182,702 7,777,232 7,672,549 Other Total assets $ 1,377,715 $ 890,562 $ 904,016 Loans 554,744 626,115 674,556 Deposits [1] 1,905,735 2,016,248 1,606,911 [1] Represents deposits from BPPR operations located in the |
Popular, Inc. (Holding only) (T
Popular, Inc. (Holding only) (Tables) - Popular, Inc. Holding Co. | 12 Months Ended |
Dec. 31, 2022 | |
Condensed Balance Sheet | Condensed Statements of Condition December 31, (In thousands) 2022 2021 ASSETS Cash and due from banks (includes $ 101,753 79,660 )) $ 101,753 $ 79,660 Money market investments 77,180 205,646 Debt securities held-to-maturity, 3,125 securities from statutory trusts (2021 - $ 3,125 )) [1] 3,125 3,125 Equity securities, at lower of cost or realizable value 18,835 19,711 Investment in BPPR and subsidiaries, at equity 2,120,503 3,858,701 Investment in Popular North America and subsidiaries, at 1,879,123 1,834,931 Investment in other non-bank subsidiaries, at equity 335,552 288,736 Other loans 28,196 29,445 Less - Allowance for credit losses 370 96 Premises and equipment 6,411 5,684 Investment in equity method investees 5,350 114,955 Other assets (includes $ 6,115 6,802 )) 34,841 32,810 Total assets $ 4,610,499 $ 6,473,308 LIABILITIES AND STOCKHOLDERS' EQUITY Notes payable $ 403,257 $ 401,990 Other liabilities (includes $ 2,764 6,591 )) 113,772 101,923 Stockholders’ equity 4,093,470 5,969,395 Total liabilities and $ 4,610,499 $ 6,473,308 [1] Refer to Note 18 to the consolidated financial statements |
Condensed Income Statement | Condensed Statements of Operations Years ended December 31, (In thousands) 2022 2021 2020 Income: Dividends from subsidiaries $ 458,000 $ 792,000 $ 586,000 Interest income (includes $ 680 828 ; 2020 - $ 2,290 )) 2,846 4,303 4,949 Earnings from investments in equity method investees 15,688 29,387 17,841 Other operating income 139,191 - 1 Net (loss) gain, including impairment, on equity securities (4,446) (525) 1,494 Total income 611,279 825,165 610,285 Expenses: Interest expense 26,021 36,444 38,528 Provision for credit losses (benefit) 274 (215) 95 Operating expense (income) (includes expenses for services affiliate of $ 18,414 13,546 13,140 )), net of reimbursement by subsidiaries for services provided by parent of $ 222,935 162,019 138,729 ) 223 5,432 (921) Total expenses 26,517 41,661 37,702 Income before income taxes and equity in undistributed 584,762 783,504 572,583 Income tax expense 8,723 352 17 Income before equity in undistributed earnings (losses) of subsidiaries 576,038 783,152 572,566 Equity in undistributed earnings (losses) of subsidiaries 526,603 151,737 (65,944) Net income $ 1,102,641 $ 934,889 $ 506,622 Comprehensive (loss) income, net of tax $ (1,097,218) $ 419,829 $ 866,551 |
Condensed Cash Flow Statement | Condensed Statements of Cash Flows Years ended December 31, (In thousands) 2022 2021 2020 Cash flows from operating activities: Net income $ 1,102,641 $ 934,889 $ 506,622 Adjustments to reconcile net income to net cash provided Equity in (earnings) losses of subsidiaries, net of dividends (526,603) (151,737) 65,944 Provision for credit losses (benefit) 274 (215) 95 Amortization of intangibles - 5,656 98 Net accretion of discounts and amortization of premiums and 1,250 1,241 1,233 Share-based compensation 9,440 8,895 5,770 Earnings from investments under the equity method, net (14,170) (26,360) (15,510) (Gain) loss on: Disposition of stock as part of the Evertec Transactions (137,813) - - Sale of foreclosed assets, including write-downs - 59 - Net increase in: Equity securities (339) (3,662) (5,305) Other assets (1,952) (1,970) (8,327) Net (decrease) increase in: Interest payable - (1,042) - Other liabilities 8,257 19,095 2,470 Total adjustments (661,656) (150,040) 46,468 Net cash provided by operating activities 440,985 784,849 553,090 Cash flows from investing activities: Net decrease (increase) in money market investments 129,000 (94,000) 110,000 Proceeds from calls, paydowns, maturities and redemptions - 5,601 - Net repayments on other loans 1,267 1,879 587 Capital contribution to subsidiaries (54,188) (12,900) (10,000) Return of capital from wholly owned subsidiaries 72,000 - 12,500 Return of capital from equity method investments - - 131 Proceeds from Evertec Stock Sale 219,883 - - Acquisition of premises and equipment (2,224) (1,788) (2,667) Proceeds from sale of premises and equipment 1,678 83 285 Proceeds from sale of foreclosed assets - 87 - Net cash provided by (used in) investing activities 367,416 (101,038) 110,836 Cash flows from financing activities: Payments of notes payable - (186,664) - Proceeds from issuance of common stock 13,479 10,493 15,175 Payments for repurchase of redeemable preferred stock - - (28,017) Dividends paid (161,516) (141,466) (133,645) Net payments for repurchase of common stock (631,965) (350,656) (500,705) Payments related to tax withholding for share-based compensation (5,771) (5,107) (3,394) Net cash used in financing activities (785,773) (673,400) (650,586) Net increase in cash and due from banks, and restricted 22,628 10,411 13,340 Cash and due from banks, and restricted cash at beginning 80,305 - 69,894 56,554 Cash and due from banks, and restricted cash at end of $ 102,933 $ 80,305 $ 69,894 |
Borrowings by contractual maturities | Year (In thousands) 2023 $ 299,109 2024 - 2025 - 2026 - 2027 - Later years 104,148 Total $ 403,257 |
Nature of operations and basi_3
Nature of operations and basis of presentation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reclassification [Line items] | |||
Equipment expenses | $ 35,626 | $ 32,919 | $ 32,514 |
Professional fees | 172,043 | 126,721 | 132,414 |
Technology and software expenses | 291,902 | 277,979 | 263,886 |
Processing and transactional services | 127,145 | 121,367 | 112,039 |
Communications | 14,885 | 14,029 | 13,230 |
Other operating expenses | $ 109,446 | 92,169 | 81,349 |
Net effect on operating expenses | 665,184 | 635,432 | |
As Reported | |||
Reclassification [Line items] | |||
Equipment expenses | 92,097 | 88,932 | |
Professional fees | 410,865 | 394,122 | |
Technology and software expenses | 0 | 0 | |
Processing and transactional services | 0 | 0 | |
Communications | 25,234 | 23,496 | |
Other operating expenses | 136,988 | 128,882 | |
Net effect on operating expenses | 665,184 | 635,432 | |
Adjustments | |||
Reclassification [Line items] | |||
Equipment expenses | (59,178) | (56,418) | |
Professional fees | (284,144) | (261,708) | |
Technology and software expenses | 277,979 | 263,886 | |
Processing and transactional services | 121,367 | 112,039 | |
Communications | (11,205) | (10,266) | |
Other operating expenses | (44,819) | (47,533) | |
Net effect on operating expenses | $ 0 | $ 0 |
New Accounting Pronouncement -
New Accounting Pronouncement - Additional Information (Details) - USD ($) $ in Thousands | Jan. 02, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||
Stockholders' equity | $ 4,093,425 | $ 5,969,397 | $ 6,028,687 | $ 6,016,779 | |
Allowance for credit losses | $ 6,911 | $ 8,096 | |||
Cumulative effect adoption adjustment | |||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||
Stockholders' equity | $ (205,800) | $ (205,842) | |||
Unfunded loan commitment | |||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||
Allowance for credit loss, increase (decrease) | (9,000) | ||||
Loan portfolio | |||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||
Allowance for credit loss, increase (decrease) | 315,000 | ||||
Held To Maturity Debt Securities | |||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||
Allowance for credit losses | 13,000 | ||||
ASC Subtopic 310 30 | |||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||
Allowance for credit loss, increase (decrease) | $ 17,000 |
Business Combination - Fair val
Business Combination - Fair value of identifiable assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Jul. 02, 2022 | Dec. 31, 2021 | Oct. 15, 2021 | Dec. 31, 2020 |
Labilities: | |||||
Total liabilities | $ 14,439 | ||||
Net assets acquired | 116,698 | ||||
Goodwill on acquisition | $ 827,428 | $ 720,293 | 49,171 | $ 671,122 | |
EVERTEC Assets | EVERTEC Inc. | |||||
Business Acquisition [Line Items] | |||||
Stock consideration | $ 144,785 | ||||
Total consideration | 144,785 | ||||
Assets: | |||||
Developed technology - Software intangible assets | $ 28,700 | 28,650 | |||
Total assets | 28,650 | ||||
Labilities: | |||||
Net assets acquired | 28,650 | ||||
Goodwill on acquisition | $ 116,135 | ||||
K2 Capital Group LLC | |||||
Business Acquisition [Line Items] | |||||
Cash consideration | 156,628 | ||||
Contingent consideration | 9,241 | ||||
Total consideration | 165,869 | ||||
Assets: | |||||
Cash and due from banks | 800 | ||||
Commercial loans | 115,575 | ||||
Premises and equipment | 8,996 | ||||
Accrrued income receivables | 57 | ||||
Other assets | 2,822 | ||||
Developed technology - Software intangible assets | 2,887 | ||||
Total assets | 131,137 | ||||
Labilities: | |||||
Other liabilities | 14,439 | ||||
Total liabilities | 14,439 | ||||
Net assets acquired | 116,698 | ||||
Goodwill on acquisition | $ 49,171 |
Business Combinations - Narrati
Business Combinations - Narratives (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Sep. 30, 2022 | Jul. 02, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Aug. 15, 2022 | Jun. 30, 2022 | Oct. 15, 2021 | |
Business Acquisition [Line Items] | ||||||||
Gain on shares sold to acquiree | $ 8,198 | $ 0 | $ 0 | |||||
Goodwill on acquisition | 827,428 | 720,293 | 671,122 | $ 49,171 | ||||
Goodwill impairment | 9,000 | 0 | 0 | |||||
Notes Receivable Gross | 32,077,769 | 29,240,557 | ||||||
Allowance for credit losses | 720,302 | 695,366 | 896,250 | |||||
Change in true-up payment obligation | $ 9,241 | $ 0 | $ 0 | |||||
EVERTEC Assets | EVERTEC Inc. | ||||||||
Business Acquisition [Line Items] | ||||||||
Goodwill amortization period | 15 years | |||||||
Common stock shares deliver to Evertec as consideration | 4,589,169 | |||||||
Business acquisition, aggregated equity value | $ 169,200 | |||||||
Evertec stock price at period end | $ 36.88 | |||||||
Additional common stock shares deliver to Evertec as consideration | 7,065,634 | |||||||
Useful life of software acquired | 5 years | |||||||
Developed technology - Software intangible assets | 28,650 | $ 28,700 | ||||||
Goodwill on acquisition | 116,135 | |||||||
Business combination total consideration | 144,785 | |||||||
EVERTEC Assets | Service agreement | EVERTEC Inc. | ||||||||
Business Acquisition [Line Items] | ||||||||
Aggregate after-tax gain | $ 226,600 | |||||||
Business combination transaction related expense | $ 24,200 | |||||||
Net expense charged for the quarter | 17,300 | |||||||
Credit of Evertec billing under MSA | 6,900 | |||||||
K2 Capital Group LLC | ||||||||
Business Acquisition [Line Items] | ||||||||
Contingent consideration earnout payment over three year periods | 29,000 | |||||||
Commercial loans | 115,575 | |||||||
Goodwill amortization period | 15 years | |||||||
Developed technology - Software intangible assets | 2,887 | |||||||
Goodwill on acquisition | 49,171 | |||||||
Business combination total consideration | 165,869 | |||||||
Goodwill impairment | 9,000 | |||||||
Change in true-up payment obligation | $ 9,200 | |||||||
K2 Capital Group LLC | Commerical direct financing lease | ||||||||
Business Acquisition [Line Items] | ||||||||
Commercial loans | 105,000 | |||||||
K2 Capital Group LLC | Working Capital | ||||||||
Business Acquisition [Line Items] | ||||||||
Commercial loans | 14,000 | |||||||
K2 Capital Group LLC | Commercial Loans | ||||||||
Business Acquisition [Line Items] | ||||||||
Notes Receivable Gross | 125,000 | |||||||
Allowance for credit losses | $ 1,000 |
Restrictions on cash and due _2
Restrictions on cash and due from banks and certain securities - Additional Information (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure - Restrictions on Cash and Due from Banks and Certain Securities - Additional Information [Abstract] | ||
Average Reserve Required With Federal Reserve Bank | $ 2,800 | $ 2,700 |
Restricted Cash And Cash Equivalents | $ 80 | $ 50 |
Debt Securities Available for S
Debt Securities Available for Sale - Weighted average yield and contractual maturities of debt securities AFS (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Oct. 15, 2022 | Dec. 31, 2021 |
Amortized cost | |||
Amortized cost - Within 1 year | $ 4,576,127 | ||
Amortized cost - After 1 to 5 years | 6,873,043 | ||
Amortized cost - After 5 to 10 years | 1,223,590 | ||
Amortized cost - After 10 years | 6,889,789 | ||
Amortized Cost | 19,562,549 | $ 25,061,224 | |
Gross unrealized gains | |||
Gross unrealized gains | 1,516 | 205,393 | |
Gross unrealized loss | |||
Gross unrealized losses | 1,759,691 | 298,348 | |
Fair Value | |||
Fair value - Within 1 year | 4,529,477 | ||
Fair value - After 1 to 5 years | 6,458,553 | ||
Fair value - After 5 to 10 years | 1,120,944 | ||
Fair value - After 10 years | 5,695,400 | ||
Debt securities available-for-sale | $ 17,804,374 | $ 24,968,269 | |
Weighted average yield | |||
Weighted Average Yield | 1.75% | 1.42% | |
US Treasury Securities | |||
Amortized cost | |||
Amortized cost - Within 1 year | $ 4,576,127 | $ 1,225,558 | |
Amortized cost - After 1 to 5 years | 6,793,739 | 10,059,163 | |
Amortized cost - After 5 to 10 years | 308,854 | 4,563,265 | |
Amortized Cost | 11,678,720 | 15,847,986 | |
Gross unrealized gains | |||
Gross unrealized gain - Within 1 year | 506 | 13,556 | |
Gross unrealized gain - After 1 to 5 years | 0 | 98,808 | |
Gross unrealized gain - After 5 to 10 years | 0 | 739 | |
Gross unrealized gains | 506 | 113,103 | |
Gross unrealized loss | |||
Gross unrealized losses - Within 1 year | 47,156 | 69 | |
Gross unrealized losses - After 1 to 5 years | 410,858 | 65,186 | |
Gross unrealized losses - After 5 to 10 years | 40,264 | 36,804 | |
Gross unrealized losses | 498,278 | $ 873,000 | 102,059 |
Fair Value | |||
Fair value - Within 1 year | 4,529,477 | 1,239,045 | |
Fair value - After 1 to 5 years | 6,382,881 | 10,092,785 | |
Fair value - After 5 to 10 years | 268,590 | 4,527,200 | |
Debt securities available-for-sale | $ 11,180,948 | $ 15,859,030 | |
Weighted average yield | |||
Weighted average yield - Within 1 year | 2.42% | 2.33% | |
Weighted average yield - After 1 to 5 years | 1.35% | 1.18% | |
Weighted average yield - After 5 to 10 years | 1.63% | 1.22% | |
Weighted Average Yield | 1.78% | 1.27% | |
Obligations of U.S. Government sponsored entities | |||
Amortized cost | |||
Amortized cost - Within 1 year | $ 70 | ||
Amortized Cost | 70 | ||
Gross unrealized gains | |||
Gross unrealized gain - Within 1 year | 0 | ||
Gross unrealized gains | 0 | ||
Gross unrealized loss | |||
Gross unrealized losses - Within 1 year | 0 | ||
Gross unrealized losses | 0 | ||
Fair Value | |||
Fair value - Within 1 year | 70 | ||
Debt securities available-for-sale | $ 70 | ||
Weighted average yield | |||
Weighted average yield - Within 1 year | 5.63% | ||
Weighted Average Yield | 5.63% | ||
Collateralized Mortgage Obligations - Federal agencies | |||
Amortized cost | |||
Amortized cost - After 1 to 5 years | $ 3,914 | $ 2,433 | |
Amortized cost - After 5 to 10 years | 47,979 | 43,241 | |
Amortized cost - After 10 years | 127,639 | 172,176 | |
Amortized Cost | 179,532 | 217,850 | |
Gross unrealized gains | |||
Gross unrealized gain - After 1 to 5 years | 0 | 42 | |
Gross unrealized gain - After 5 to 10 years | 0 | 295 | |
Gross unrealized gain - After 10 years | 24 | 3,441 | |
Gross unrealized gains | 24 | 3,778 | |
Gross unrealized loss | |||
Gross unrealized losses - After 1 to 5 years | 213 | 0 | |
Gross unrealized losses - After 5 to 10 years | 3,428 | 6 | |
Gross unrealized losses - After 10 years | 10,719 | 357 | |
Gross unrealized losses | 14,360 | 363 | |
Fair Value | |||
Fair value - After 1 to 5 years | 3,701 | 2,475 | |
Fair value - After 5 to 10 years | 44,551 | 43,530 | |
Fair value - After 10 years | 116,944 | 175,260 | |
Debt securities available-for-sale | $ 165,196 | $ 221,265 | |
Weighted average yield | |||
Weighted average yield - After 1 to 5 years | 1.77% | 2.16% | |
Weighted average yield - After 5 to 10 years | 1.73% | 1.54% | |
Weighted average yield - After 10 years | 2.53% | 2.13% | |
Weighted Average Yield | 2.30% | 2.01% | |
Mortgage Backed Securities | |||
Amortized cost | |||
Amortized cost - Within 1 year | $ 11 | ||
Amortized cost - After 1 to 5 years | $ 74,328 | 65,749 | |
Amortized cost - After 5 to 10 years | 866,757 | 665,600 | |
Amortized cost - After 10 years | 6,762,150 | 8,263,835 | |
Amortized Cost | 7,703,235 | 8,995,195 | |
Gross unrealized gains | |||
Gross unrealized gain - Within 1 year | 1 | ||
Gross unrealized gain - After 1 to 5 years | 11 | 2,380 | |
Gross unrealized gain - After 5 to 10 years | 43 | 17,998 | |
Gross unrealized gain - After 10 years | 932 | 68,128 | |
Gross unrealized gains | 986 | 88,507 | |
Gross unrealized loss | |||
Gross unrealized losses - Within 1 year | 0 | ||
Gross unrealized losses - After 1 to 5 years | 3,428 | 11 | |
Gross unrealized losses - After 5 to 10 years | 58,997 | 5 | |
Gross unrealized losses - After 10 years | 1,184,626 | 195,910 | |
Gross unrealized losses | 1,247,051 | 195,926 | |
Fair Value | |||
Fair value - Within 1 year | 12 | ||
Fair value - After 1 to 5 years | 70,911 | 68,118 | |
Fair value - After 5 to 10 years | 807,803 | 683,593 | |
Fair value - After 10 years | 5,578,456 | 8,136,053 | |
Debt securities available-for-sale | $ 6,457,170 | $ 8,887,776 | |
Weighted average yield | |||
Weighted average yield - Within 1 year | 4.79% | ||
Weighted average yield - After 1 to 5 years | 2.33% | 2.23% | |
Weighted average yield - After 5 to 10 years | 2.16% | 1.97% | |
Weighted average yield - After 10 years | 1.61% | 1.67% | |
Weighted Average Yield | 1.68% | 1.69% | |
Other | |||
Amortized cost | |||
Amortized cost - After 1 to 5 years | $ 1,062 | $ 123 | |
Amortized Cost | 1,062 | 123 | |
Gross unrealized gains | |||
Gross unrealized gain - After 1 to 5 years | 0 | 5 | |
Gross unrealized gains | 0 | 5 | |
Gross unrealized loss | |||
Gross unrealized losses - After 1 to 5 years | 2 | 0 | |
Gross unrealized losses | 2 | 0 | |
Fair Value | |||
Fair value - After 1 to 5 years | 1,060 | 128 | |
Debt securities available-for-sale | $ 1,060 | $ 128 | |
Weighted average yield | |||
Weighted average yield - After 1 to 5 years | 3.98% | 3.62% | |
Weighted Average Yield | 3.98% | 3.62% |
Debt Securities Available for_2
Debt Securities Available for Sale - Weighted average yield and contractual maturities of debt securities AFS - Parenthetical (Details) - Debt securities available-for-sale - USD ($) $ in Billions | Dec. 31, 2022 | Dec. 31, 2021 |
Asset pledged as collateral | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt securities | $ 10.3 | $ 20.9 |
Asset Not Pledged as Collateral | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt securities | $ 11.3 | $ 22 |
Debt Securities Available for_3
Debt Securities Available for Sale - Aggregate Amortized Cost and Fair Value of AFS by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Amortized cost | ||
Amortized cost - Within 1 year | $ 4,576,127 | |
Amortized cost - After 1 to 5 years | 6,873,043 | |
Amortized cost - After 5 to 10 years | 1,223,590 | |
Amortized cost - After 10 years | 6,889,789 | |
Amortized cost | 19,562,549 | |
Fair Value | ||
Fair value - Within 1 year | 4,529,477 | |
Fair value - After 1 to 5 years | 6,458,553 | |
Fair value - After 5 to 10 years | 1,120,944 | |
Fair value - After 10 years | 5,695,400 | |
Fair Value | $ 17,804,374 | $ 24,968,269 |
Debt Securities Available for_4
Debt Securities Available for Sale - Realized gains and losses on debt securities available-for-sale (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures | |||
Gross Realized Gains | $ 0 | $ 695 | $ 41 |
Gross Realized Losses | 0 | (672) | 0 |
Net realized gains (losses) on sale of debt securities available-for-sale | $ 0 | $ 23 | $ 41 |
Debt Securities Available for_5
Debt Securities Available for Sale - AFS debt securities in a continuous unrealized loss position (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | $ 7,907,905 | $ 15,393,537 |
Less than 12 months Gross Unrealized Losses | 437,310 | 273,007 |
12 months or more Fair Value | 7,929,428 | 596,135 |
12 months or more Gross Unrealized Losses | 1,322,381 | 25,341 |
Total Fair Value | 15,837,333 | 15,989,672 |
Total Gross Unrealized Losses | 1,759,691 | 298,348 |
US Treasury Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 6,027,786 | 9,590,448 |
Less than 12 months Gross Unrealized Losses | 288,582 | 102,059 |
12 months or more Fair Value | 3,244,572 | 0 |
12 months or more Gross Unrealized Losses | 209,696 | 0 |
Total Fair Value | 9,272,358 | 9,590,448 |
Total Gross Unrealized Losses | 498,278 | 102,059 |
Collateralized Mortgage Obligations - Federal agencies | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 139,845 | 35,533 |
Less than 12 months Gross Unrealized Losses | 10,655 | 334 |
12 months or more Fair Value | 22,661 | 1,084 |
12 months or more Gross Unrealized Losses | 3,705 | 29 |
Total Fair Value | 162,506 | 36,617 |
Total Gross Unrealized Losses | 14,360 | 363 |
Mortgage Backed Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 1,740,214 | 5,767,556 |
Less than 12 months Gross Unrealized Losses | 138,071 | 170,614 |
12 months or more Fair Value | 4,662,195 | 595,051 |
12 months or more Gross Unrealized Losses | 1,108,980 | 25,312 |
Total Fair Value | 6,402,409 | 6,362,607 |
Total Gross Unrealized Losses | 1,247,051 | $ 195,926 |
Other | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 60 | |
Less than 12 months Gross Unrealized Losses | 2 | |
12 months or more Fair Value | 0 | |
12 months or more Gross Unrealized Losses | 0 | |
Total Fair Value | 60 | |
Total Gross Unrealized Losses | $ 2 |
Debt Securities Available for_6
Debt Securities Available for Sale - Debt securities available- for-sale - Additional Information (Details) - USD ($) | 12 Months Ended | |||
Oct. 15, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Securities, Available-for-sale | ||||
Proceeds from sale of debt securities available-for-sale | $ 0 | $ 235,992,000 | $ 5,103,000 | |
Available-for-sale securities transfer to Held-to-maturity | 6,531,092,000 | 0 | $ 0 | |
Gross unrealized losses | 1,759,691,000 | 298,348,000 | ||
US Treasury Securities | ||||
Debt Securities, Available-for-sale | ||||
Proceeds from sale of debt securities available-for-sale | 236,000,000 | |||
Available-for-sale securities transfer to Held-to-maturity | $ 6,500,000,000 | |||
Available-for-sale securities transfer to Held-to-Maturity at par value | 7,400,000,000 | |||
Gross unrealized losses | $ 873,000,000 | $ 498,278,000 | $ 102,059,000 |
Debt Securities Held-to-matur_3
Debt Securities Held-to-maturity - Weighted average yield and contractual maturities of debt securities HTM (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Amortized cost | |||
Amortized cost - Within 1 year | $ 503,564 | ||
Amortized cost - After 1 to 5 year | 6,166,692 | ||
Amortized cost - After 5 to 10 years | 2,639,263 | ||
Amortized cost - After 10 years | 47,220 | ||
Amortized cost | 9,356,739 | $ 79,461 | |
Book Value | |||
Book Value - within 1 year | 503,564 | ||
Book Value - Within 1 to 5 years | 5,659,891 | ||
Book Balue - After 5 to 10 years | 2,314,691 | ||
Book Value - After 10 years | 47,220 | ||
Book Value | 8,525,366 | 79,461 | |
Allowance for credit losses | |||
Allowance for credit losses | 6,911 | 8,096 | |
Net of Allowance | |||
Net of Allowance | 8,518,455 | 71,365 | |
Gross unrecognized gains | |||
Gross Unrealized Gains | 4,918 | 12,003 | |
Gross unrealized losses | |||
Gross Unrealized Losses | 83,177 | 0 | |
Fair Value | |||
Fair Value - within 1 year | 497,358 | ||
Fair Value - After 1 to 5 years | 5,599,919 | ||
Fair Value - After 5 to 10 years | 2,299,834 | ||
Fair Value - After 10 years | 43,085 | ||
Fair value | $ 8,440,196 | $ 83,368 | |
Weighted Average Yield | |||
Weighted Average Yield | 1.55% | 3.06% | |
US Treasury Securities | |||
Amortized cost | |||
Amortized cost - Within 1 year | $ 499,034 | ||
Amortized cost - After 1 to 5 year | 6,147,568 | ||
Amortized cost - After 5 to 10 years | 2,638,238 | ||
Amortized cost | 9,284,840 | ||
Book Value | |||
Book Value - within 1 year | 499,034 | ||
Book Value - Within 1 to 5 years | 5,640,767 | ||
Book Balue - After 5 to 10 years | 2,313,666 | ||
Book Value | 8,453,467 | ||
Allowance for credit losses | |||
Allowance for credit losses - Within 1 Year | 0 | ||
Allowance for credit losses - After 1 to 5 years | 0 | ||
Allowance for credit losses - After 5 to 10 years | 0 | ||
Allowance for credit losses | 0 | ||
Net of Allowance | |||
Net of Allowance - Within 1 Year | 499,034 | ||
Net of Allowance - After 1 to 5 Years | 5,640,767 | ||
Net of Allowance - After 5 to 10 Years | 2,313,666 | ||
Net of Allowance | 8,453,467 | ||
Gross unrecognized gains | |||
Gross unrealized gains - Within 1 year | 0 | ||
Gross unrealized gains - After 1 to 5 years | 0 | ||
Gross unrealized gains - After 5 to 10 years | 0 | ||
Gross Unrealized Gains | 0 | ||
Gross unrealized losses | |||
Gross unrealized losses - Within 1 year | 6,203 | ||
Gross unrealized losses - After 1 to 5 years | 59,806 | ||
Gross unrealized losses - After 5 to 10 years | 14,857 | ||
Gross Unrealized Losses | 80,866 | ||
Fair Value | |||
Fair Value - within 1 year | 492,831 | ||
Fair Value - After 1 to 5 years | 5,580,961 | ||
Fair Value - After 5 to 10 years | 2,298,809 | ||
Fair value | $ 8,372,601 | ||
Weighted Average Yield | |||
Weighted average yield - Within 1 Year | 2.83% | ||
Weighted average yield - After 1 to 5 years | 1.49% | ||
Weighted average yield - After 5 to 10 years | 1.41% | ||
Weighted Average Yield | 1.54% | ||
Obligations of Puerto Rico, States and political subdivisions | |||
Amortized cost | |||
Amortized cost - Within 1 year | $ 4,530 | $ 4,240 | |
Amortized cost - After 1 to 5 year | 19,105 | 14,395 | |
Amortized cost - After 5 to 10 years | 1,025 | 11,280 | |
Amortized cost - After 10 years | 41,261 | 43,561 | |
Amortized cost | 65,921 | 73,476 | |
Book Value | |||
Book Value - within 1 year | 4,530 | ||
Book Value - Within 1 to 5 years | 19,105 | ||
Book Balue - After 5 to 10 years | 1,025 | ||
Book Value - After 10 years | 41,261 | ||
Book Value | 65,921 | ||
Allowance for credit losses | |||
Allowance for credit losses - Within 1 Year | 8 | 7 | |
Allowance for credit losses - After 1 to 5 years | 234 | 148 | |
Allowance for credit losses - After 5 to 10 years | 34 | 122 | |
Allowance for credit losses - After 10 years | 6,635 | 7,819 | |
Allowance for credit losses | 6,911 | 8,096 | $ 10,261 |
Net of Allowance | |||
Net of Allowance - Within 1 Year | 4,522 | 4,233 | |
Net of Allowance - After 1 to 5 Years | 18,871 | 14,247 | |
Net of Allowance - After 5 to 10 Years | 991 | 11,158 | |
Net of Allowance - After 10 Years | 34,626 | 35,742 | |
Net of Allowance | 59,010 | 65,380 | |
Gross unrecognized gains | |||
Gross unrealized gains - Within 1 year | 5 | 4 | |
Gross unrealized gains - After 1 to 5 years | 150 | 149 | |
Gross unrealized gains - After 5 to 10 years | 34 | 104 | |
Gross unrealized gains - After 10 years | 4,729 | 11,746 | |
Gross Unrealized Gains | 4,918 | 12,003 | |
Gross unrealized losses | |||
Gross unrealized losses - Within 1 year | 0 | 0 | |
Gross unrealized losses - After 1 to 5 years | 82 | 0 | |
Gross unrealized losses - After 5 to 10 years | 0 | 0 | |
Gross unrealized losses - After 10 years | 2,229 | 0 | |
Gross Unrealized Losses | 2,311 | 0 | |
Fair Value | |||
Fair Value - within 1 year | 4,527 | 4,237 | |
Fair Value - After 1 to 5 years | 18,939 | 14,396 | |
Fair Value - After 5 to 10 years | 1,025 | 11,262 | |
Fair Value - After 10 years | 37,126 | 47,488 | |
Fair value | $ 61,617 | $ 77,383 | |
Weighted Average Yield | |||
Weighted average yield - Within 1 Year | 6.08% | 6.07% | |
Weighted average yield - After 1 to 5 years | 4.24% | 6.23% | |
Weighted average yield - After 5 to 10 years | 5.80% | 2.18% | |
Weighted average yield - After 10 years | 1.40% | 1.50% | |
Weighted Average Yield | 2.61% | 2.79% | |
Collateralized Mortgage Obligations - Federal agencies | |||
Amortized cost | |||
Amortized cost - After 1 to 5 year | $ 19 | $ 25 | |
Amortized cost | 19 | 25 | |
Book Value | |||
Book Value - Within 1 to 5 years | 19 | ||
Book Value | 19 | ||
Allowance for credit losses | |||
Allowance for credit losses - After 1 to 5 years | 0 | 0 | |
Allowance for credit losses | 0 | 0 | |
Net of Allowance | |||
Net of Allowance - After 1 to 5 Years | 19 | 25 | |
Net of Allowance | 19 | 25 | |
Gross unrecognized gains | |||
Gross unrealized gains - After 1 to 5 years | 0 | 0 | |
Gross Unrealized Gains | 0 | 0 | |
Gross unrealized losses | |||
Gross unrealized losses - After 1 to 5 years | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | |||
Fair Value - After 1 to 5 years | 19 | 25 | |
Fair value | $ 19 | $ 25 | |
Weighted Average Yield | |||
Weighted average yield - After 1 to 5 years | 6.44% | 6.44% | |
Weighted Average Yield | 6.44% | 6.44% | |
Securities in wholly owned statutory business trusts | |||
Amortized cost | |||
Amortized cost - After 10 years | $ 5,959 | $ 5,960 | |
Amortized cost | 5,959 | 5,960 | |
Book Value | |||
Book Value - After 10 years | 5,959 | ||
Book Value | 5,959 | ||
Allowance for credit losses | |||
Allowance for credit losses - After 10 years | 0 | 0 | |
Allowance for credit losses | 0 | 0 | |
Net of Allowance | |||
Net of Allowance - After 10 Years | 5,959 | 5,960 | |
Net of Allowance | 5,959 | 5,960 | |
Gross unrecognized gains | |||
Gross unrealized gains - After 10 years | 0 | 0 | |
Gross Unrealized Gains | 0 | 0 | |
Gross unrealized losses | |||
Gross unrealized losses - After 10 years | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | |||
Fair Value - After 10 years | 5,959 | 5,960 | |
Fair value | $ 5,959 | $ 5,960 | |
Weighted Average Yield | |||
Weighted average yield - After 10 years | 6.33% | 6.33% | |
Weighted Average Yield | 6.33% | 6.33% |
Debt Securities Held-to-matur_4
Debt Securities Held-to-maturity - Weighted average yield and contractual maturities of debt securities HTM - Parenthetical (Details) - Held To Maturity Debt Securities $ in Millions | Dec. 31, 2022 USD ($) |
Schedule of Held-to-maturity Securities [Line Items] | |
Debt securities net unrealized loss remaining in AOCI included in book value for AFS securities transferred to HTM securities | $ 831 |
Asset Not Pledged as Collateral | |
Schedule of Held-to-maturity Securities [Line Items] | |
Debt securities | $ 6.9 |
Debt Securities Held-to-matur_5
Debt Securities Held-to-maturity - Aggregate Amortized Cost and Fair Value of HTMS by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Held-to-maturity Securities, Classified [Abstract] | ||
Amortized cost - Within 1 year | $ 503,564 | |
Amortized cost - After 1 to 5 year | 6,166,692 | |
Amortized cost - After 5 to 10 years | 2,639,263 | |
Amortized cost - After 10 years | 47,220 | |
Amortized cost | 9,356,739 | $ 79,461 |
Book Value - within 1 year | 503,564 | |
Book Value - Within 1 to 5 years | 5,659,891 | |
Book Balue - After 5 to 10 years | 2,314,691 | |
Book Value - After 10 years | 47,220 | |
Book Value | 8,525,366 | 79,461 |
Fair Value - within 1 year | 497,358 | |
Fair Value - After 1 to 5 years | 5,599,919 | |
Fair Value - After 5 to 10 years | 2,299,834 | |
Fair Value - After 10 years | 43,085 | |
Fair value | $ 8,440,196 | $ 83,368 |
Debt Securities Held-to-matur_6
Debt Securities Held-to-maturity - Credit quality indicators (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Debt securities held to maturity credit quality indicator [Line Items] | ||
Held to maturity securities | $ 9,356,739 | $ 79,461 |
Obligations of Puerto Rico, States and political subdivisions | ||
Debt securities held to maturity credit quality indicator [Line Items] | ||
Held to maturity securities | 65,921 | 73,476 |
Obligations of Puerto Rico, States and political subdivisions | Munis Payable From Real and Personal Property Taxes | ||
Debt securities held to maturity credit quality indicator [Line Items] | ||
Held to maturity securities | 24,660 | 30,145 |
Watch | Obligations of Puerto Rico, States and political subdivisions | Munis Payable From Real and Personal Property Taxes | ||
Debt securities held to maturity credit quality indicator [Line Items] | ||
Held to maturity securities | 13,735 | 16,345 |
Pass | Obligations of Puerto Rico, States and political subdivisions | Munis Payable From Real and Personal Property Taxes | ||
Debt securities held to maturity credit quality indicator [Line Items] | ||
Held to maturity securities | $ 10,925 | $ 13,800 |
Debt Securities Held-to-matur_7
Debt Securities Held-to-maturity - Allowance for credit loss on held to maturity (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Debt securities held to maturity allowance for credit loss | ||
Beginning balance | $ 8,096 | |
Ending balance | 6,911 | $ 8,096 |
Obligations of Puerto Rico, States and political subdivisions | ||
Debt securities held to maturity allowance for credit loss | ||
Beginning balance | 8,096 | 10,261 |
Provision for credit losses (benefit) | (1,185) | (2,165) |
Securities charged-off | 0 | 0 |
Recoveries | 0 | 0 |
Ending balance | $ 6,911 | $ 8,096 |
Debt Securities Held-to-matur_8
Debt Securities Held-to-maturity -Additional Information (Details) | Dec. 31, 2022 USD ($) score | Dec. 31, 2021 USD ($) score | Dec. 31, 2020 USD ($) |
Schedule of Held-to-maturity Securities [Line Items] | |||
Held to maturity securities | $ 9,356,739,000 | $ 79,461,000 | |
Allowance for credit losses | 6,911,000 | 8,096,000 | |
Obligations of Puerto Rico, States and political subdivisions | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held to maturity securities | 65,921,000 | 73,476,000 | |
Allowance for credit losses | $ 6,911,000 | $ 8,096,000 | $ 10,261,000 |
Average Credit Score Fico | score | 707 | 704 | |
Percentage of nominal value | 65% | 64% | |
Obligations of Puerto Rico, States and political subdivisions | Munis Payable From Real and Personal Property Taxes | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held to maturity securities | $ 24,660,000 | $ 30,145,000 | |
Allowance for credit losses | 300,000 | 300,000 | |
Obligations of Puerto Rico, States and political subdivisions | Munis Not Guaranteed By Puerto Rico Central Government | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held to maturity securities | 42,000,000 | 43,000,000 | |
Allowance for credit losses | 6,600,000 | 7,800,000 | |
Past due | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held to maturity securities | $ 0 | $ 0 |
Loans - Loans held-in-portfolio
Loans - Loans held-in-portfolio in past due status, non-performing status and accruing loans past-due 90 days or more by loan class (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | $ 32,077,769 | $ 29,240,557 |
Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 363,706 | 344,648 |
Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 139,856 | 117,801 |
Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 791,055 | 1,028,644 |
Non-accrual loans | 439,441 | 547,877 |
Accruing loans past-due 90 days or more | 351,614 | 480,767 |
Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,294,617 | 1,491,093 |
Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 30,783,152 | 27,749,464 |
Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 757,984 | 716,220 |
Construction | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Construction | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Construction | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 485 |
Non-accrual loans | 0 | 485 |
Accruing loans past-due 90 days or more | 0 | 0 |
Construction | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 485 |
Construction | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 757,984 | 715,735 |
Mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 7,397,471 | 7,427,196 |
Mortgages | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 239,057 | 229,541 |
Mortgages | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 97,715 | 84,327 |
Mortgages | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 600,481 | 827,214 |
Non-accrual loans | 262,879 | 355,856 |
Accruing loans past-due 90 days or more | 337,602 | 471,358 |
Mortgages | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 937,253 | 1,141,082 |
Mortgages | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 6,460,218 | 6,286,114 |
Commercial | Commercial multi-family | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,321,713 | 1,962,630 |
Commercial | Commercial multi-family | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,602 | 4,140 |
Commercial | Commercial multi-family | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Commercial | Commercial multi-family | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 242 | 272 |
Non-accrual loans | 242 | 272 |
Accruing loans past-due 90 days or more | 0 | 0 |
Commercial | Commercial multi-family | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,844 | 4,412 |
Commercial | Commercial multi-family | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,318,869 | 1,958,218 |
Commercial | CRE non-owner occupied | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 4,499,670 | 4,613,390 |
Commercial | CRE non-owner occupied | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,425 | 8,120 |
Commercial | CRE non-owner occupied | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 428 | 819 |
Commercial | CRE non-owner occupied | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 25,116 | 21,338 |
Non-accrual loans | 25,116 | 21,338 |
Accruing loans past-due 90 days or more | 0 | 0 |
Commercial | CRE non-owner occupied | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 26,969 | 30,277 |
Commercial | CRE non-owner occupied | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 4,472,701 | 4,583,113 |
Commercial | CRE owner occupied | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,078,549 | 1,818,102 |
Commercial | CRE owner occupied | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 729 | 4,424 |
Commercial | CRE owner occupied | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 245 | 278 |
Commercial | CRE owner occupied | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 29,085 | 55,348 |
Non-accrual loans | 29,085 | 55,348 |
Accruing loans past-due 90 days or more | 0 | 0 |
Commercial | CRE owner occupied | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 30,059 | 60,050 |
Commercial | CRE owner occupied | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,048,490 | 1,758,052 |
Commercial | Commercial and Industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,839,200 | 5,338,579 |
Commercial | Commercial and Industrial | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 15,996 | 12,848 |
Commercial | Commercial and Industrial | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,146 | 4,407 |
Commercial | Commercial and Industrial | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 40,462 | 49,257 |
Non-accrual loans | 38,596 | 48,621 |
Accruing loans past-due 90 days or more | 1,866 | 636 |
Commercial | Commercial and Industrial | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 59,604 | 66,512 |
Commercial | Commercial and Industrial | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,779,596 | 5,272,067 |
Leasing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,585,739 | 1,381,319 |
Leasing | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 11,983 | 9,240 |
Leasing | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,563 | 2,037 |
Leasing | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,941 | 3,102 |
Non-accrual loans | 5,941 | 3,102 |
Accruing loans past-due 90 days or more | 0 | 0 |
Leasing | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 21,487 | 14,379 |
Leasing | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,564,252 | 1,366,940 |
Consumer | Credit card | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,041,870 | 919,861 |
Consumer | Credit card | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 7,106 | 5,768 |
Consumer | Credit card | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,049 | 3,520 |
Consumer | Credit card | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 11,910 | 8,577 |
Non-accrual loans | 0 | 0 |
Accruing loans past-due 90 days or more | 11,910 | 8,577 |
Consumer | Credit card | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 24,065 | 17,865 |
Consumer | Credit card | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,017,805 | 901,996 |
Consumer | Home equity lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 71,916 | 78,862 |
Consumer | Home equity lines of credit | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 413 | 117 |
Consumer | Home equity lines of credit | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 161 | 34 |
Consumer | Home equity lines of credit | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 4,110 | 5,429 |
Non-accrual loans | 4,110 | 5,406 |
Accruing loans past-due 90 days or more | 0 | 23 |
Consumer | Home equity lines of credit | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 4,684 | 5,580 |
Consumer | Home equity lines of credit | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 67,232 | 73,282 |
Consumer | Personal loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,823,579 | 1,443,005 |
Consumer | Personal loans | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 15,040 | 10,890 |
Consumer | Personal loans | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 10,219 | 6,646 |
Consumer | Personal loans | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 20,040 | 21,916 |
Non-accrual loans | 20,040 | 21,916 |
Accruing loans past-due 90 days or more | 0 | 0 |
Consumer | Personal loans | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 45,299 | 39,452 |
Consumer | Personal loans | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,778,280 | 1,403,553 |
Consumer | Auto Loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,512,530 | 3,412,187 |
Consumer | Auto Loan | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 68,868 | 59,128 |
Consumer | Auto Loan | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 19,243 | 15,019 |
Consumer | Auto Loan | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 40,978 | 23,085 |
Non-accrual loans | 40,978 | 23,085 |
Accruing loans past-due 90 days or more | 0 | 0 |
Consumer | Auto Loan | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 129,089 | 97,232 |
Consumer | Auto Loan | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,383,441 | 3,314,955 |
Consumer | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 147,548 | 129,206 |
Consumer | Other | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 487 | 432 |
Consumer | Other | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 87 | 714 |
Consumer | Other | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 12,690 | 12,621 |
Non-accrual loans | 12,454 | 12,448 |
Accruing loans past-due 90 days or more | 236 | 173 |
Consumer | Other | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 13,264 | 13,767 |
Consumer | Other | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 134,284 | 115,439 |
Puerto Rico | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 22,546,905 | 20,865,382 |
Puerto Rico | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 329,733 | 311,951 |
Puerto Rico | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 130,189 | 111,257 |
Puerto Rico | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 753,257 | 994,938 |
Non-accrual loans | 402,009 | 514,289 |
Accruing loans past-due 90 days or more | 351,248 | 480,649 |
Puerto Rico | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,213,179 | 1,418,146 |
Puerto Rico | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 21,333,726 | 19,447,236 |
Puerto Rico | Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 147,041 | 87,111 |
Puerto Rico | Construction | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Puerto Rico | Construction | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Puerto Rico | Construction | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 485 |
Non-accrual loans | 0 | 485 |
Accruing loans past-due 90 days or more | 0 | 0 |
Puerto Rico | Construction | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 485 |
Puerto Rico | Construction | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 147,041 | 86,626 |
Puerto Rico | Mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 6,110,279 | 6,251,866 |
Puerto Rico | Mortgages | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 222,926 | 217,830 |
Puerto Rico | Mortgages | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 91,881 | 81,754 |
Puerto Rico | Mortgages | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 579,993 | 805,245 |
Non-accrual loans | 242,391 | 333,887 |
Accruing loans past-due 90 days or more | 337,602 | 471,358 |
Puerto Rico | Mortgages | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 894,800 | 1,104,829 |
Puerto Rico | Mortgages | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,215,479 | 5,147,037 |
Puerto Rico | Commercial | Commercial multi-family | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 281,373 | 154,769 |
Puerto Rico | Commercial | Commercial multi-family | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 425 | 314 |
Puerto Rico | Commercial | Commercial multi-family | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Puerto Rico | Commercial | Commercial multi-family | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 242 | 272 |
Non-accrual loans | 242 | 272 |
Accruing loans past-due 90 days or more | 0 | 0 |
Puerto Rico | Commercial | Commercial multi-family | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 667 | 586 |
Puerto Rico | Commercial | Commercial multi-family | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 280,706 | 154,183 |
Puerto Rico | Commercial | CRE non-owner occupied | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,757,327 | 2,289,923 |
Puerto Rico | Commercial | CRE non-owner occupied | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 941 | 2,399 |
Puerto Rico | Commercial | CRE non-owner occupied | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 428 | 136 |
Puerto Rico | Commercial | CRE non-owner occupied | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 23,662 | 20,716 |
Non-accrual loans | 23,662 | 20,716 |
Accruing loans past-due 90 days or more | 0 | 0 |
Puerto Rico | Commercial | CRE non-owner occupied | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 25,031 | 23,251 |
Puerto Rico | Commercial | CRE non-owner occupied | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,732,296 | 2,266,672 |
Puerto Rico | Commercial | CRE owner occupied | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,588,056 | 1,423,729 |
Puerto Rico | Commercial | CRE owner occupied | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 729 | 3,329 |
Puerto Rico | Commercial | CRE owner occupied | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 245 | 278 |
Puerto Rico | Commercial | CRE owner occupied | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 23,990 | 54,335 |
Non-accrual loans | 23,990 | 54,335 |
Accruing loans past-due 90 days or more | 0 | 0 |
Puerto Rico | Commercial | CRE owner occupied | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 24,964 | 57,942 |
Puerto Rico | Commercial | CRE owner occupied | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,563,092 | 1,365,787 |
Puerto Rico | Commercial | Commercial and Industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,796,508 | 3,528,448 |
Puerto Rico | Commercial | Commercial and Industrial | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,036 | 3,438 |
Puerto Rico | Commercial | Commercial and Industrial | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 941 | 1,727 |
Puerto Rico | Commercial | Commercial and Industrial | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 35,777 | 45,242 |
Non-accrual loans | 34,277 | 44,724 |
Accruing loans past-due 90 days or more | 1,500 | 518 |
Puerto Rico | Commercial | Commercial and Industrial | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 39,754 | 50,407 |
Puerto Rico | Commercial | Commercial and Industrial | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,756,754 | 3,478,041 |
Puerto Rico | Leasing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,585,739 | 1,381,319 |
Puerto Rico | Leasing | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 11,983 | 9,240 |
Puerto Rico | Leasing | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,563 | 2,037 |
Puerto Rico | Leasing | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,941 | 3,102 |
Non-accrual loans | 5,941 | 3,102 |
Accruing loans past-due 90 days or more | 0 | 0 |
Puerto Rico | Leasing | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 21,487 | 14,379 |
Puerto Rico | Leasing | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,564,252 | 1,366,940 |
Puerto Rico | Consumer | Credit card | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,041,831 | 919,851 |
Puerto Rico | Consumer | Credit card | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 7,106 | 5,768 |
Puerto Rico | Consumer | Credit card | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,049 | 3,520 |
Puerto Rico | Consumer | Credit card | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 11,910 | 8,577 |
Non-accrual loans | 0 | 0 |
Accruing loans past-due 90 days or more | 11,910 | 8,577 |
Puerto Rico | Consumer | Credit card | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 24,065 | 17,865 |
Puerto Rico | Consumer | Credit card | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,017,766 | 901,986 |
Puerto Rico | Consumer | Home equity lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,954 | 3,571 |
Puerto Rico | Consumer | Home equity lines of credit | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 46 |
Puerto Rico | Consumer | Home equity lines of credit | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Puerto Rico | Consumer | Home equity lines of credit | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 23 |
Non-accrual loans | 0 | 0 |
Accruing loans past-due 90 days or more | 0 | 23 |
Puerto Rico | Consumer | Home equity lines of credit | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 69 |
Puerto Rico | Consumer | Home equity lines of credit | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,954 | 3,502 |
Puerto Rico | Consumer | Personal loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,585,687 | 1,288,060 |
Puerto Rico | Consumer | Personal loans | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 13,232 | 10,027 |
Puerto Rico | Consumer | Personal loans | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 8,752 | 6,072 |
Puerto Rico | Consumer | Personal loans | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 18,082 | 21,235 |
Non-accrual loans | 18,082 | 21,235 |
Accruing loans past-due 90 days or more | 0 | 0 |
Puerto Rico | Consumer | Personal loans | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 40,066 | 37,334 |
Puerto Rico | Consumer | Personal loans | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,545,621 | 1,250,726 |
Puerto Rico | Consumer | Auto Loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,512,530 | 3,412,187 |
Puerto Rico | Consumer | Auto Loan | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 68,868 | 59,128 |
Puerto Rico | Consumer | Auto Loan | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 19,243 | 15,019 |
Puerto Rico | Consumer | Auto Loan | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 40,978 | 23,085 |
Non-accrual loans | 40,978 | 23,085 |
Accruing loans past-due 90 days or more | 0 | 0 |
Puerto Rico | Consumer | Auto Loan | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 129,089 | 97,232 |
Puerto Rico | Consumer | Auto Loan | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 3,383,441 | 3,314,955 |
Puerto Rico | Consumer | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 137,580 | 124,548 |
Puerto Rico | Consumer | Other | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 487 | 432 |
Puerto Rico | Consumer | Other | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 87 | 714 |
Puerto Rico | Consumer | Other | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 12,682 | 12,621 |
Non-accrual loans | 12,446 | 12,448 |
Accruing loans past-due 90 days or more | 236 | 173 |
Puerto Rico | Consumer | Other | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 13,256 | 13,767 |
Puerto Rico | Consumer | Other | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 124,324 | 110,781 |
Popular U.S. | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 9,530,864 | 8,375,175 |
Popular U.S. | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 33,973 | 32,697 |
Popular U.S. | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 9,667 | 6,544 |
Popular U.S. | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 37,798 | 33,706 |
Non-accrual loans | 37,432 | 33,588 |
Accruing loans past-due 90 days or more | 366 | 118 |
Popular U.S. | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 81,438 | 72,947 |
Popular U.S. | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 9,449,426 | 8,302,228 |
Popular U.S. | Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 610,943 | 629,109 |
Popular U.S. | Construction | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Popular U.S. | Construction | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Popular U.S. | Construction | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Non-accrual loans | 0 | 0 |
Accruing loans past-due 90 days or more | 0 | 0 |
Popular U.S. | Construction | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Popular U.S. | Construction | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 610,943 | 629,109 |
Popular U.S. | Mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,287,192 | 1,175,330 |
Popular U.S. | Mortgages | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 16,131 | 11,711 |
Popular U.S. | Mortgages | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,834 | 2,573 |
Popular U.S. | Mortgages | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 20,488 | 21,969 |
Non-accrual loans | 20,488 | 21,969 |
Accruing loans past-due 90 days or more | 0 | 0 |
Popular U.S. | Mortgages | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 42,453 | 36,253 |
Popular U.S. | Mortgages | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,244,739 | 1,139,077 |
Popular U.S. | Commercial | Commercial multi-family | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,040,340 | 1,807,861 |
Popular U.S. | Commercial | Commercial multi-family | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,177 | 3,826 |
Popular U.S. | Commercial | Commercial multi-family | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Popular U.S. | Commercial | Commercial multi-family | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Non-accrual loans | 0 | 0 |
Accruing loans past-due 90 days or more | 0 | 0 |
Popular U.S. | Commercial | Commercial multi-family | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,177 | 3,826 |
Popular U.S. | Commercial | Commercial multi-family | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,038,163 | 1,804,035 |
Popular U.S. | Commercial | CRE non-owner occupied | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,742,343 | 2,323,467 |
Popular U.S. | Commercial | CRE non-owner occupied | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 484 | 5,721 |
Popular U.S. | Commercial | CRE non-owner occupied | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 683 |
Popular U.S. | Commercial | CRE non-owner occupied | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,454 | 622 |
Non-accrual loans | 1,454 | 622 |
Accruing loans past-due 90 days or more | 0 | 0 |
Popular U.S. | Commercial | CRE non-owner occupied | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,938 | 7,026 |
Popular U.S. | Commercial | CRE non-owner occupied | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,740,405 | 2,316,441 |
Popular U.S. | Commercial | CRE owner occupied | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,490,493 | 394,373 |
Popular U.S. | Commercial | CRE owner occupied | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 1,095 |
Popular U.S. | Commercial | CRE owner occupied | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Popular U.S. | Commercial | CRE owner occupied | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,095 | 1,013 |
Non-accrual loans | 5,095 | 1,013 |
Accruing loans past-due 90 days or more | 0 | 0 |
Popular U.S. | Commercial | CRE owner occupied | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,095 | 2,108 |
Popular U.S. | Commercial | CRE owner occupied | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,485,398 | 392,265 |
Popular U.S. | Commercial | Commercial and Industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,042,692 | 1,810,131 |
Popular U.S. | Commercial | Commercial and Industrial | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 12,960 | 9,410 |
Popular U.S. | Commercial | Commercial and Industrial | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,205 | 2,680 |
Popular U.S. | Commercial | Commercial and Industrial | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 4,685 | 4,015 |
Non-accrual loans | 4,319 | 3,897 |
Accruing loans past-due 90 days or more | 366 | 118 |
Popular U.S. | Commercial | Commercial and Industrial | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 19,850 | 16,105 |
Popular U.S. | Commercial | Commercial and Industrial | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 2,022,842 | 1,794,026 |
Popular U.S. | Consumer | Credit card | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 39 | 10 |
Popular U.S. | Consumer | Credit card | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Popular U.S. | Consumer | Credit card | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Popular U.S. | Consumer | Credit card | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Non-accrual loans | 0 | 0 |
Accruing loans past-due 90 days or more | 0 | 0 |
Popular U.S. | Consumer | Credit card | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Popular U.S. | Consumer | Credit card | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 39 | 10 |
Popular U.S. | Consumer | Home equity lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 68,962 | 75,291 |
Popular U.S. | Consumer | Home equity lines of credit | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 413 | 71 |
Popular U.S. | Consumer | Home equity lines of credit | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 161 | 34 |
Popular U.S. | Consumer | Home equity lines of credit | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 4,110 | 5,406 |
Non-accrual loans | 4,110 | 5,406 |
Accruing loans past-due 90 days or more | 0 | 0 |
Popular U.S. | Consumer | Home equity lines of credit | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 4,684 | 5,511 |
Popular U.S. | Consumer | Home equity lines of credit | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 64,278 | 69,780 |
Popular U.S. | Consumer | Personal loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 237,892 | 154,945 |
Popular U.S. | Consumer | Personal loans | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,808 | 863 |
Popular U.S. | Consumer | Personal loans | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,467 | 574 |
Popular U.S. | Consumer | Personal loans | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 1,958 | 681 |
Non-accrual loans | 1,958 | 681 |
Accruing loans past-due 90 days or more | 0 | 0 |
Popular U.S. | Consumer | Personal loans | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 5,233 | 2,118 |
Popular U.S. | Consumer | Personal loans | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 232,659 | 152,827 |
Popular U.S. | Consumer | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 9,968 | 4,658 |
Popular U.S. | Consumer | Other | Past Due 30 To 59 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Popular U.S. | Consumer | Other | Past Due 60 To 89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 0 | 0 |
Popular U.S. | Consumer | Other | Past due 90 days or more | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 8 | 0 |
Non-accrual loans | 8 | 0 |
Accruing loans past-due 90 days or more | 0 | 0 |
Popular U.S. | Consumer | Other | Past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | 8 | 0 |
Popular U.S. | Consumer | Other | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans held in portfolio | $ 9,960 | $ 4,658 |
Loans - Loans HIP in past due s
Loans - Loans HIP in past due status, non-performing status and accruing loans past-due 90 days or more by loan class (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unearned Income | $ 295,156 | $ 265,668 | |
Loans held-for-sale, at lower of cost or fair value | 5,381 | 59,168 | |
Notes Receivable Gross | 32,077,769 | 29,240,557 | |
Non-accrual with no allowance | 177,104 | 236,858 | |
Asset pledged as collateral | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes Receivable Gross | 7,400,000 | 6,600,000 | |
Federal Home Loan Bank | Asset pledged as collateral | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes Receivable Gross | 4,800,000 | 3,200,000 | |
FRB Advances | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes Receivable Gross | 2,600,000 | 1,700,000 | |
Public Funds | Asset pledged as collateral | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes Receivable Gross | 0 | 1,700,000 | |
Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes Receivable Gross | 30,783,152 | 27,749,464 | |
Past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes Receivable Gross | 1,294,617 | 1,491,093 | |
Past due 90 days or more | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment 90 Days Past Due And Still Accruing | 351,614 | 480,767 | |
Notes Receivable Gross | 791,055 | 1,028,644 | |
Buy Back Option Program | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Repurchased loans | 58,000 | 94,000 | |
GNMA | Bulk loan repurchase | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Repurchased loans | $ 687,900 | ||
Mortgages | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Purchase of Loans | 299,000 | 393,000 | |
Notes Receivable Gross | 7,397,471 | 7,427,196 | |
Non-accrual with no allowance | 119,098 | 169,856 | |
Mortgages | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes Receivable Gross | 6,460,218 | 6,286,114 | |
Mortgages | Past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes Receivable Gross | 937,253 | 1,141,082 | |
Mortgages | Past due 90 days or more | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment 90 Days Past Due And Still Accruing | 337,602 | 471,358 | |
Notes Receivable Gross | 600,481 | 827,214 | |
Mortgages | GNMA | Buy Back Option Program | Past due 90 days or more | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment 90 Days Past Due And Still Accruing | 14,000 | 13,000 | |
Reverse Mortgages | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes Receivable Gross | 42,000 | 50,000 | |
Residential mortgage loans insured By FHA | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual with no allowance | $ 190,000 | $ 304,000 |
Loans - Components of Net Finan
Loans - Components of Net Financing Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Receivables | ||
Total minimum lease payments | $ 1,336,173 | $ 1,190,545 |
Estimated residual value of leased property | 605,638 | 518,670 |
Deferred origination costs, net of fees | 24,909 | 21,474 |
Less - Unearned financing income | 293,091 | 257,738 |
Net minimum lease payments | 1,673,629 | 1,472,951 |
Less - Allowance for credit losses | 22,216 | 18,581 |
Net minimum lease payments, net of allowance for credit losses | $ 1,651,413 | $ 1,454,370 |
Loans - Future minimum lease pa
Loans - Future minimum lease payments (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Sales Type and Direct financing Leases Lease Receivable Fiscal Year Maturity [Abstract] | |
2023 | $ 111,779 |
2024 | 132,371 |
2025 | 177,836 |
2026 | 303,773 |
2027 | 402,035 |
2028 and thereafter | 208,379 |
Total | $ 1,336,173 |
Loans - Amortized cost basis an
Loans - Amortized cost basis and interest income recognized on non-accrual loans (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | $ 177,104 | $ 236,858 |
Non-accrual with allowance | 262,337 | 311,019 |
Construction | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | |
Non-accrual with allowance | 485 | |
Mortgages | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 119,098 | 169,856 |
Non-accrual with allowance | 143,781 | 186,000 |
Commercial | Commercial multi-family | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 0 |
Non-accrual with allowance | 242 | 272 |
Commercial | CRE non-owner occupied | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 17,093 | 15,819 |
Non-accrual with allowance | 8,023 | 5,519 |
Commercial | CRE owner occupied | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 14,165 | 13,491 |
Non-accrual with allowance | 14,920 | 41,857 |
Commercial | Commercial and Industrial | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 20,227 | 30,177 |
Non-accrual with allowance | 18,369 | 18,444 |
Leasing | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 458 | 276 |
Non-accrual with allowance | 5,483 | 2,826 |
Consumer | Home equity lines of credit | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 0 |
Non-accrual with allowance | 4,110 | 5,406 |
Consumer | Personal loans | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 4,623 | 6,360 |
Non-accrual with allowance | 15,417 | 15,556 |
Consumer | Auto Loan | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 1,177 | 879 |
Non-accrual with allowance | 39,801 | 22,206 |
Consumer | Other | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 263 | 0 |
Non-accrual with allowance | 12,191 | 12,448 |
Puerto Rico | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 170,484 | 236,748 |
Non-accrual with allowance | 231,525 | 277,541 |
Puerto Rico | Construction | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | |
Non-accrual with allowance | 485 | |
Puerto Rico | Mortgages | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 119,027 | 169,827 |
Non-accrual with allowance | 123,364 | 164,060 |
Puerto Rico | Commercial | Commercial multi-family | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 0 |
Non-accrual with allowance | 242 | 272 |
Puerto Rico | Commercial | CRE non-owner occupied | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 15,639 | 15,819 |
Non-accrual with allowance | 8,023 | 4,897 |
Puerto Rico | Commercial | CRE owner occupied | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 9,070 | 13,491 |
Non-accrual with allowance | 14,920 | 40,844 |
Puerto Rico | Commercial | Commercial and Industrial | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 20,227 | 30,177 |
Non-accrual with allowance | 14,050 | 14,547 |
Puerto Rico | Leasing | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 458 | 276 |
Non-accrual with allowance | 5,483 | 2,826 |
Puerto Rico | Consumer | Home equity lines of credit | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 0 |
Non-accrual with allowance | 0 | 0 |
Puerto Rico | Consumer | Personal loans | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 4,623 | 6,279 |
Non-accrual with allowance | 13,459 | 14,956 |
Puerto Rico | Consumer | Auto Loan | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 1,177 | 879 |
Non-accrual with allowance | 39,801 | 22,206 |
Puerto Rico | Consumer | Other | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 263 | 0 |
Non-accrual with allowance | 12,183 | 12,448 |
Popular U.S. | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 6,620 | 110 |
Non-accrual with allowance | 30,812 | 33,478 |
Popular U.S. | Construction | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | |
Non-accrual with allowance | 0 | |
Popular U.S. | Mortgages | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 71 | 29 |
Non-accrual with allowance | 20,417 | 21,940 |
Popular U.S. | Commercial | Commercial multi-family | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 0 |
Non-accrual with allowance | 0 | 0 |
Popular U.S. | Commercial | CRE non-owner occupied | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 1,454 | 0 |
Non-accrual with allowance | 0 | 622 |
Popular U.S. | Commercial | CRE owner occupied | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 5,095 | 0 |
Non-accrual with allowance | 0 | 1,013 |
Popular U.S. | Commercial | Commercial and Industrial | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 0 |
Non-accrual with allowance | 4,319 | 3,897 |
Popular U.S. | Leasing | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 0 |
Non-accrual with allowance | 0 | 0 |
Popular U.S. | Consumer | Home equity lines of credit | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 0 |
Non-accrual with allowance | 4,110 | 5,406 |
Popular U.S. | Consumer | Personal loans | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 81 |
Non-accrual with allowance | 1,958 | 600 |
Popular U.S. | Consumer | Auto Loan | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 0 |
Non-accrual with allowance | 0 | 0 |
Popular U.S. | Consumer | Other | ||
Financing receivable nonaccrual status [Line Items] | ||
Non-accrual with no allowance | 0 | 0 |
Non-accrual with allowance | $ 8 | $ 0 |
Loans - Amortized cost basis of
Loans - Amortized cost basis of collateral dependent loans by class (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | $ 32,077,769 | $ 29,240,557 |
Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 406,836 | 497,988 |
Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 364,991 | 449,183 |
Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 10,576 | 9,557 |
Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 168 | 680 |
Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 9,853 | 10,675 |
Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 21,248 | 27,893 |
Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 7,397,471 | 7,427,196 |
Mortgages | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 129,173 | 180,700 |
Mortgages | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 129,173 | 180,700 |
Mortgages | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Mortgages | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Mortgages | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Mortgages | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | Commercial multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 2,321,713 | 1,962,630 |
Commercial | Commercial multi-family | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,329 | 1,374 |
Commercial | Commercial multi-family | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,329 | 1,374 |
Commercial | Commercial multi-family | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | Commercial multi-family | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | Commercial multi-family | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | Commercial multi-family | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | CRE non-owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 4,499,670 | 4,613,390 |
Commercial | CRE non-owner occupied | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 204,434 | 211,026 |
Commercial | CRE non-owner occupied | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 204,434 | 211,026 |
Commercial | CRE non-owner occupied | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | CRE non-owner occupied | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | CRE non-owner occupied | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | CRE non-owner occupied | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | CRE owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 3,078,549 | 1,818,102 |
Commercial | CRE owner occupied | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 23,329 | 47,268 |
Commercial | CRE owner occupied | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 23,329 | 47,268 |
Commercial | CRE owner occupied | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | CRE owner occupied | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | CRE owner occupied | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | CRE owner occupied | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 5,839,200 | 5,338,579 |
Commercial | Commercial and Industrial | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 32,351 | 41,898 |
Commercial | Commercial and Industrial | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,345 | 2,650 |
Commercial | Commercial and Industrial | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Commercial | Commercial and Industrial | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 168 | 680 |
Commercial | Commercial and Industrial | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 9,853 | 10,675 |
Commercial | Commercial and Industrial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 20,985 | 27,893 |
Consumer | Personal loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,823,579 | 1,443,005 |
Consumer | Personal loans | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 5,381 | 6,165 |
Consumer | Personal loans | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 5,381 | 6,165 |
Consumer | Personal loans | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Consumer | Personal loans | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Consumer | Personal loans | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Consumer | Personal loans | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Consumer | Auto Loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 3,512,530 | 3,412,187 |
Consumer | Auto Loan | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 9,556 | 8,983 |
Consumer | Auto Loan | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Consumer | Auto Loan | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 9,556 | 8,983 |
Consumer | Auto Loan | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Consumer | Auto Loan | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Consumer | Auto Loan | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 147,548 | 129,206 |
Consumer | Other | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 263 | |
Consumer | Other | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Consumer | Other | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Consumer | Other | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Consumer | Other | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Consumer | Other | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 263 | |
Leasing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,585,739 | 1,381,319 |
Leasing | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,020 | 574 |
Leasing | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Leasing | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,020 | 574 |
Leasing | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Leasing | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Leasing | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 22,546,905 | 20,865,382 |
Puerto Rico | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 399,047 | 497,062 |
Puerto Rico | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 357,338 | 448,257 |
Puerto Rico | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 10,576 | 9,557 |
Puerto Rico | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 32 | 680 |
Puerto Rico | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 9,853 | 10,675 |
Puerto Rico | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 21,248 | 27,893 |
Puerto Rico | Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 6,110,279 | 6,251,866 |
Puerto Rico | Mortgages | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 128,069 | 179,774 |
Puerto Rico | Mortgages | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 128,069 | 179,774 |
Puerto Rico | Mortgages | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Mortgages | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Mortgages | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Mortgages | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | Commercial multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 281,373 | 154,769 |
Puerto Rico | Commercial | Commercial multi-family | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,329 | 1,374 |
Puerto Rico | Commercial | Commercial multi-family | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,329 | 1,374 |
Puerto Rico | Commercial | Commercial multi-family | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | Commercial multi-family | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | Commercial multi-family | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | Commercial multi-family | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | CRE non-owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 2,757,327 | 2,289,923 |
Puerto Rico | Commercial | CRE non-owner occupied | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 202,980 | 211,026 |
Puerto Rico | Commercial | CRE non-owner occupied | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 202,980 | 211,026 |
Puerto Rico | Commercial | CRE non-owner occupied | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | CRE non-owner occupied | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | CRE non-owner occupied | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | CRE non-owner occupied | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | CRE owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,588,056 | 1,423,729 |
Puerto Rico | Commercial | CRE owner occupied | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 18,234 | 47,268 |
Puerto Rico | Commercial | CRE owner occupied | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 18,234 | 47,268 |
Puerto Rico | Commercial | CRE owner occupied | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | CRE owner occupied | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | CRE owner occupied | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | CRE owner occupied | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 3,796,508 | 3,528,448 |
Puerto Rico | Commercial | Commercial and Industrial | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 32,215 | 41,898 |
Puerto Rico | Commercial | Commercial and Industrial | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,345 | 2,650 |
Puerto Rico | Commercial | Commercial and Industrial | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Commercial | Commercial and Industrial | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 32 | 680 |
Puerto Rico | Commercial | Commercial and Industrial | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 9,853 | 10,675 |
Puerto Rico | Commercial | Commercial and Industrial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 20,985 | 27,893 |
Puerto Rico | Consumer | Personal loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,585,687 | 1,288,060 |
Puerto Rico | Consumer | Personal loans | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 5,381 | 6,165 |
Puerto Rico | Consumer | Personal loans | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 5,381 | 6,165 |
Puerto Rico | Consumer | Personal loans | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Consumer | Personal loans | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Consumer | Personal loans | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Consumer | Personal loans | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Consumer | Auto Loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 3,512,530 | 3,412,187 |
Puerto Rico | Consumer | Auto Loan | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 9,556 | 8,983 |
Puerto Rico | Consumer | Auto Loan | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Consumer | Auto Loan | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 9,556 | 8,983 |
Puerto Rico | Consumer | Auto Loan | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Consumer | Auto Loan | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Consumer | Auto Loan | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 137,580 | 124,548 |
Puerto Rico | Consumer | Other | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 263 | |
Puerto Rico | Consumer | Other | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Puerto Rico | Consumer | Other | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Puerto Rico | Consumer | Other | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Puerto Rico | Consumer | Other | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Puerto Rico | Consumer | Other | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 263 | |
Puerto Rico | Leasing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,585,739 | 1,381,319 |
Puerto Rico | Leasing | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,020 | 574 |
Puerto Rico | Leasing | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Leasing | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,020 | 574 |
Puerto Rico | Leasing | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Leasing | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Puerto Rico | Leasing | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Popular U.S. | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 9,530,864 | 8,375,175 |
Popular U.S. | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 7,789 | 926 |
Popular U.S. | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 7,653 | 926 |
Popular U.S. | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Popular U.S. | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 136 | 0 |
Popular U.S. | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Popular U.S. | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Popular U.S. | Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,287,192 | 1,175,330 |
Popular U.S. | Mortgages | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,104 | 926 |
Popular U.S. | Mortgages | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,104 | 926 |
Popular U.S. | Mortgages | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Popular U.S. | Mortgages | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Popular U.S. | Mortgages | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Popular U.S. | Mortgages | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | 0 |
Popular U.S. | Commercial | Commercial multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 2,040,340 | 1,807,861 |
Popular U.S. | Commercial | CRE non-owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,742,343 | 2,323,467 |
Popular U.S. | Commercial | CRE non-owner occupied | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,454 | |
Popular U.S. | Commercial | CRE non-owner occupied | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,454 | |
Popular U.S. | Commercial | CRE non-owner occupied | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | CRE non-owner occupied | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | CRE non-owner occupied | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | CRE non-owner occupied | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | CRE owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 1,490,493 | 394,373 |
Popular U.S. | Commercial | CRE owner occupied | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 5,095 | |
Popular U.S. | Commercial | CRE owner occupied | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 5,095 | |
Popular U.S. | Commercial | CRE owner occupied | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | CRE owner occupied | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | CRE owner occupied | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | CRE owner occupied | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 2,042,692 | 1,810,131 |
Popular U.S. | Commercial | Commercial and Industrial | Collateral assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 136 | |
Popular U.S. | Commercial | Commercial and Industrial | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | Commercial and Industrial | Auto | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | Commercial and Industrial | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 136 | |
Popular U.S. | Commercial | Commercial and Industrial | Accounts receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Commercial | Commercial and Industrial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 0 | |
Popular U.S. | Consumer | Personal loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | 237,892 | 154,945 |
Popular U.S. | Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes Receivable Gross | $ 9,968 | $ 4,658 |
Loans - Purchased Credit Deteri
Loans - Purchased Credit Deteriorated Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Purchased Financial Assets With Credit Deterioration [Abstract] | ||
Purchase price of loans at acquisition | $ 3,144 | $ 10,995 |
Allowance for credit losses at acquisition | 915 | 3,142 |
Non-credit discount/(premium) at acquisition | 140 | 446 |
Par value of acquired loans at acquisition | $ 4,199 | $ 14,583 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Interest income recognized | $ 4,000 | $ 3,000 |
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 305,597 | 743,847 |
Loans held in portfolio, net of unearned income | 32,077,769 | 29,240,557 |
Non-accrual with no allowance | 177,104 | 236,858 |
Troubled debt restructurings | 1,644,647 | 1,656,822 |
Trading account debt securities | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 300,279 | 732,533 |
Accruing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructurings | 1,495,309 | 1,468,966 |
Collateral Pledged | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 406,836 | 497,988 |
Non-accrual with no allowance | 177,000 | 237,000 |
Past due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 1,294,617 | 1,491,093 |
Past due 90 days or more | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accruing loans past-due 90 days or more | 351,614 | 480,767 |
Loans held in portfolio, net of unearned income | 791,055 | 1,028,644 |
Current | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 30,783,152 | 27,749,464 |
Buy Back Option Program | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Repurchased loans | 58,000 | 94,000 |
GNMA | Trading account debt securities | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 169,352 | 380,228 |
FNMA | Trading account debt securities | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 122,422 | 329,617 |
FHLMC | Trading account debt securities | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds | 8,505 | 22,688 |
Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchase of Loans | 433,000 | 61,000 |
Residential Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage Loans Sold | 63,000 | 145,000 |
Commercial Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchase of Loans | 142,000 | 139,000 |
Purchased credit deterioration loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchase of Loans | 4,000 | 14,000 |
Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchase of Loans | 299,000 | 393,000 |
Loans held in portfolio, net of unearned income | 7,397,471 | 7,427,196 |
Non-accrual with no allowance | 119,098 | 169,856 |
Troubled debt restructurings | 1,256,766 | 1,255,713 |
Mortgages | Accruing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructurings | 1,169,976 | 1,143,204 |
Mortgages | Collateral Pledged | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 129,173 | 180,700 |
Mortgages | Past due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 937,253 | 1,141,082 |
Mortgages | Past due 90 days or more | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accruing loans past-due 90 days or more | 337,602 | 471,358 |
Loans held in portfolio, net of unearned income | 600,481 | 827,214 |
Mortgages | Current | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 6,460,218 | 6,286,114 |
Mortgages | US Government Agency Insured Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 2,000,000 | 1,900,000 |
Mortgages | US Government Agency Insured Loans | Past due 90 days or more | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 300,000 | 500,000 |
Mortgages | Guaranteed by U.S. sponsored entities | Accruing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructurings | 725,000 | 716,000 |
Mortgages | GNMA | Buy Back Option Program | Past due 90 days or more | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accruing loans past-due 90 days or more | 14,000 | 13,000 |
Reverse Mortgages | Current | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 42,000 | 50,000 |
Residential mortgage loans insured By FHA | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual with no allowance | 190,000 | 304,000 |
Commercial and construction loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Sold | 138,000 | 131,000 |
Puerto Rico | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 22,546,905 | 20,865,382 |
Non-accrual with no allowance | 170,484 | 236,748 |
Puerto Rico | Collateral Pledged | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 399,047 | 497,062 |
Puerto Rico | Past due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 1,213,179 | 1,418,146 |
Puerto Rico | Past due 90 days or more | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accruing loans past-due 90 days or more | 351,248 | 480,649 |
Loans held in portfolio, net of unearned income | 753,257 | 994,938 |
Puerto Rico | Current | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 21,333,726 | 19,447,236 |
Puerto Rico | Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 6,110,279 | 6,251,866 |
Non-accrual with no allowance | 119,027 | 169,827 |
Puerto Rico | Mortgages | Collateral Pledged | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 128,069 | 179,774 |
Puerto Rico | Mortgages | Past due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 894,800 | 1,104,829 |
Puerto Rico | Mortgages | Past due 90 days or more | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accruing loans past-due 90 days or more | 337,602 | 471,358 |
Loans held in portfolio, net of unearned income | 579,993 | 805,245 |
Puerto Rico | Mortgages | Current | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 5,215,479 | 5,147,037 |
Puerto Rico | Reverse Mortgages | Current | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held in portfolio, net of unearned income | 42,000 | 50,000 |
Puerto Rico | Residential mortgage loans insured By FHA | Past due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual with no allowance | $ 190,000 | $ 304,000 |
Allowance for credit losses - A
Allowance for credit losses - Allowance Movement (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | $ 695,366 | $ 896,250 |
Provision for credit losses (benefit) | 83,307 | (183,345) |
Initial allowance for credit losses - PCD Loans | 915 | 3,142 |
Charge-offs | (144,318) | (135,177) |
Recoveries | 85,032 | 114,496 |
Ending balance | 720,302 | 695,366 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 7,897 | 15,851 |
Provision for credit losses (benefit) | 908 | (7,954) |
Balance at end of period | 8,805 | 7,897 |
Construction | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 6,363 | 14,237 |
Provision for credit losses (benefit) | (4,060) | (6,297) |
Initial allowance for credit losses - PCD Loans | 0 | 0 |
Charge-offs | 0 | (7,143) |
Recoveries | 1,943 | 5,566 |
Ending balance | 4,246 | 6,363 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 4,725 | 9,079 |
Provision for credit losses (benefit) | (1,519) | (4,354) |
Balance at end of period | 3,206 | 4,725 |
Mortgages | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 154,478 | 215,716 |
Provision for credit losses (benefit) | (35,894) | (61,633) |
Initial allowance for credit losses - PCD Loans | 915 | 3,142 |
Charge-offs | (5,173) | (18,261) |
Recoveries | 20,928 | 15,514 |
Ending balance | 135,254 | 154,478 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 0 | 0 |
Provision for credit losses (benefit) | 0 | 0 |
Balance at end of period | 0 | 0 |
Commercial | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 215,805 | 333,380 |
Provision for credit losses (benefit) | 16,072 | (137,122) |
Initial allowance for credit losses - PCD Loans | 0 | 0 |
Charge-offs | (17,250) | (18,357) |
Recoveries | 20,749 | 37,904 |
Ending balance | 235,376 | 215,805 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 3,135 | 6,666 |
Provision for credit losses (benefit) | 2,376 | (3,531) |
Balance at end of period | 5,511 | 3,135 |
Leasing | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 17,578 | 16,863 |
Provision for credit losses (benefit) | 6,832 | 2,094 |
Initial allowance for credit losses - PCD Loans | 0 | 0 |
Charge-offs | (7,107) | (4,637) |
Recoveries | 3,315 | 3,258 |
Ending balance | 20,618 | 17,578 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 0 | 0 |
Provision for credit losses (benefit) | 0 | 0 |
Balance at end of period | 0 | 0 |
Consumer | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 301,142 | 316,054 |
Provision for credit losses (benefit) | 100,357 | 19,613 |
Initial allowance for credit losses - PCD Loans | 0 | 0 |
Charge-offs | (114,788) | (86,779) |
Recoveries | 38,097 | 52,254 |
Ending balance | 324,808 | 301,142 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 37 | 106 |
Provision for credit losses (benefit) | 51 | (69) |
Balance at end of period | 88 | 37 |
Puerto Rico | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 594,162 | 739,750 |
Provision for credit losses (benefit) | 69,544 | (129,018) |
Initial allowance for credit losses - PCD Loans | 915 | 3,142 |
Charge-offs | (126,202) | (124,140) |
Recoveries | 77,126 | 104,428 |
Ending balance | 615,545 | 594,162 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 4,139 | 9,523 |
Provision for credit losses (benefit) | 2,219 | (5,384) |
Balance at end of period | 6,358 | 4,139 |
Puerto Rico | Construction | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 1,641 | 4,871 |
Provision for credit losses (benefit) | 526 | (1,533) |
Initial allowance for credit losses - PCD Loans | 0 | 0 |
Charge-offs | 0 | (6,620) |
Recoveries | 811 | 4,923 |
Ending balance | 2,978 | 1,641 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 2,388 | 4,610 |
Provision for credit losses (benefit) | (366) | (2,222) |
Balance at end of period | 2,022 | 2,388 |
Puerto Rico | Mortgages | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 138,286 | 195,557 |
Provision for credit losses (benefit) | (37,600) | (57,684) |
Initial allowance for credit losses - PCD Loans | 915 | 3,142 |
Charge-offs | (5,105) | (17,656) |
Recoveries | 20,848 | 14,927 |
Ending balance | 117,344 | 138,286 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 0 | 0 |
Provision for credit losses (benefit) | 0 | 0 |
Balance at end of period | 0 | 0 |
Puerto Rico | Commercial | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 151,928 | 225,323 |
Provision for credit losses (benefit) | 11,475 | (91,695) |
Initial allowance for credit losses - PCD Loans | 0 | 0 |
Charge-offs | (7,238) | (17,180) |
Recoveries | 18,130 | 35,480 |
Ending balance | 174,295 | 151,928 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 1,751 | 4,913 |
Provision for credit losses (benefit) | 2,585 | (3,162) |
Balance at end of period | 4,336 | 1,751 |
Puerto Rico | Leasing | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 17,578 | 16,863 |
Provision for credit losses (benefit) | 6,832 | 2,094 |
Initial allowance for credit losses - PCD Loans | 0 | 0 |
Charge-offs | (7,107) | (4,637) |
Recoveries | 3,315 | 3,258 |
Ending balance | 20,618 | 17,578 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 0 | 0 |
Provision for credit losses (benefit) | 0 | 0 |
Balance at end of period | 0 | 0 |
Puerto Rico | Consumer | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 284,729 | 297,136 |
Provision for credit losses (benefit) | 88,311 | 19,800 |
Initial allowance for credit losses - PCD Loans | 0 | 0 |
Charge-offs | (106,752) | (78,047) |
Recoveries | 34,022 | 45,840 |
Ending balance | 300,310 | 284,729 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 0 | 0 |
Provision for credit losses (benefit) | 0 | 0 |
Balance at end of period | 0 | 0 |
Popular U.S. | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 101,204 | 156,500 |
Provision for credit losses (benefit) | 13,763 | (54,327) |
Charge-offs | (18,116) | (11,037) |
Recoveries | 7,906 | 10,068 |
Ending balance | 104,757 | 101,204 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 3,758 | 6,328 |
Provision for credit losses (benefit) | (1,311) | (2,570) |
Balance at end of period | 2,447 | 3,758 |
Popular U.S. | Construction | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 4,722 | 9,366 |
Provision for credit losses (benefit) | (4,586) | (4,764) |
Charge-offs | 0 | (523) |
Recoveries | 1,132 | 643 |
Ending balance | 1,268 | 4,722 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 2,337 | 4,469 |
Provision for credit losses (benefit) | (1,153) | (2,132) |
Balance at end of period | 1,184 | 2,337 |
Popular U.S. | Mortgages | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 16,192 | 20,159 |
Provision for credit losses (benefit) | 1,706 | (3,949) |
Charge-offs | (68) | (605) |
Recoveries | 80 | 587 |
Ending balance | 17,910 | 16,192 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 0 | 0 |
Provision for credit losses (benefit) | 0 | 0 |
Balance at end of period | 0 | 0 |
Popular U.S. | Commercial | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 63,877 | 108,057 |
Provision for credit losses (benefit) | 4,597 | (45,427) |
Charge-offs | (10,012) | (1,177) |
Recoveries | 2,619 | 2,424 |
Ending balance | 61,081 | 63,877 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 1,384 | 1,753 |
Provision for credit losses (benefit) | (209) | (369) |
Balance at end of period | 1,175 | 1,384 |
Popular U.S. | Consumer | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 16,413 | 18,918 |
Provision for credit losses (benefit) | 12,046 | (187) |
Charge-offs | (8,036) | (8,732) |
Recoveries | 4,075 | 6,414 |
Ending balance | 24,498 | 16,413 |
Allowance for credit losses - unfunded commitments: | ||
Balance at beginning of period | 37 | 106 |
Provision for credit losses (benefit) | 51 | (69) |
Balance at end of period | $ 88 | $ 37 |
Allowance for credit losses - T
Allowance for credit losses - Troubled debt restructuring according to their accruing status (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | $ 1,644,647 | $ 1,656,822 |
Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 1,495,309 | 1,468,966 |
Non-Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 149,338 | 187,856 |
Mortgages | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 1,256,766 | 1,255,713 |
Mortgages | Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 1,169,976 | 1,143,204 |
Mortgages | Non-Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 86,790 | 112,509 |
Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 324,425 | 326,088 |
Commercial | Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 269,784 | 261,344 |
Commercial | Non-Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 54,641 | 64,744 |
Leasing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 1,178 | 372 |
Leasing | Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 1,154 | 325 |
Leasing | Non-Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 24 | 47 |
Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 62,278 | 74,649 |
Consumer | Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 54,395 | 64,093 |
Consumer | Non-Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | 7,883 | 10,556 |
TDR | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 90,890 | 102,790 |
TDR | Mortgages | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 58,819 | 61,888 |
TDR | Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 18,451 | 24,736 |
TDR | Leasing | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 43 | 42 |
TDR | Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 13,577 | $ 16,124 |
Allowance for credit losses -_3
Allowance for credit losses - Troubled debt restructuring according to their accruing status - Subnote (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Recorded Investment | $ 1,644,647 | $ 1,656,822 |
Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Recorded Investment | 1,495,309 | 1,468,966 |
Mortgages | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Recorded Investment | 1,256,766 | 1,255,713 |
Mortgages | Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Recorded Investment | 1,169,976 | 1,143,204 |
Mortgages | Guaranteed by U.S. sponsored entities | Accruing | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Recorded Investment | $ 725,000 | $ 716,000 |
Allowance for credit losses -_4
Allowance for credit losses - Troubled debt restructurings loan count by type of modification (Details) - loans | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1,706 | 2,373 |
Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 174 | 372 |
Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 352 | 313 |
Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 890 | 1,604 |
Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 290 | 84 |
Mortgages | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1,110 | 1,774 |
Mortgages | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 7 | 39 |
Mortgages | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 217 | 140 |
Mortgages | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 881 | 1,590 |
Mortgages | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 5 | 5 |
Commercial | Commercial multi-family | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 2 | |
Commercial | Commercial multi-family | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | |
Commercial | Commercial multi-family | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1 | |
Commercial | Commercial multi-family | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1 | |
Commercial | Commercial multi-family | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | |
Commercial | CRE non-owner occupied | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 8 | 12 |
Commercial | CRE non-owner occupied | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 0 |
Commercial | CRE non-owner occupied | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 2 | 11 |
Commercial | CRE non-owner occupied | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 2 | 1 |
Commercial | CRE non-owner occupied | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 4 | 0 |
Commercial | CRE owner occupied | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 28 | 43 |
Commercial | CRE owner occupied | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 3 | 4 |
Commercial | CRE owner occupied | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 10 | 23 |
Commercial | CRE owner occupied | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1 | 4 |
Commercial | CRE owner occupied | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 14 | 12 |
Commercial | Commercial and Industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 30 | 39 |
Commercial | Commercial and Industrial | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 4 | 5 |
Commercial | Commercial and Industrial | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 9 | 13 |
Commercial | Commercial and Industrial | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1 | 0 |
Commercial | Commercial and Industrial | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 16 | 21 |
Consumer | Credit card | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 96 | 178 |
Consumer | Credit card | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 48 | 134 |
Consumer | Credit card | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 0 |
Consumer | Credit card | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 1 |
Consumer | Credit card | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 48 | 43 |
Consumer | Home equity lines of credit | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1 | 2 |
Consumer | Home equity lines of credit | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 0 |
Consumer | Home equity lines of credit | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 1 |
Consumer | Home equity lines of credit | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1 | 1 |
Consumer | Home equity lines of credit | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 0 |
Consumer | Personal loans | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 265 | 303 |
Consumer | Personal loans | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 111 | 183 |
Consumer | Personal loans | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 111 | 117 |
Consumer | Personal loans | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 3 | 1 |
Consumer | Personal loans | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 40 | 2 |
Consumer | Auto Loan | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 130 | 10 |
Consumer | Auto Loan | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 0 |
Consumer | Auto Loan | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1 | 7 |
Consumer | Auto Loan | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 3 |
Consumer | Auto Loan | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 129 | 0 |
Consumer | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1 | 8 |
Consumer | Other | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1 | 7 |
Consumer | Other | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 0 |
Consumer | Other | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 0 |
Consumer | Other | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 1 |
Leasing | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 37 | 2 |
Leasing | Reduction in interest rate | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 0 | 0 |
Leasing | Extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 2 | 0 |
Leasing | Combination of reduction in interest rate and extension of maturity date | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 1 | 2 |
Leasing | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | 34 | 0 |
Allowance for credit losses - Q
Allowance for credit losses - Quantitative information by loan class for loans modified as T D R (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 USD ($) loans | Dec. 31, 2021 USD ($) loans | |
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 1,706 | 2,373 |
Pre-Modification Recorded Investment | $ 212,954 | $ 326,611 |
Post Modification Recorded Investment | 209,928 | 321,125 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 5,316 | $ 10,346 |
Mortgages | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 1,110 | 1,774 |
Pre-Modification Recorded Investment | $ 128,581 | $ 213,661 |
Post Modification Recorded Investment | 125,875 | 214,367 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 4,447 | $ 6,632 |
Commercial | Commercial multi-family | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 2 | |
Pre-Modification Recorded Investment | $ 246 | |
Post Modification Recorded Investment | 211 | |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 26 | |
Commercial | CRE non-owner occupied | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 8 | 12 |
Pre-Modification Recorded Investment | $ 6,530 | $ 3,612 |
Post Modification Recorded Investment | 6,527 | 3,604 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 60 | $ 177 |
Commercial | CRE owner occupied | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 28 | 43 |
Pre-Modification Recorded Investment | $ 19,192 | $ 95,354 |
Post Modification Recorded Investment | 19,165 | 90,096 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ (2,078) | $ 1,577 |
Commercial | Commercial and Industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 30 | 39 |
Pre-Modification Recorded Investment | $ 51,139 | $ 6,573 |
Post Modification Recorded Investment | 50,929 | 5,719 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 2,120 | $ 745 |
Consumer | Credit card | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 96 | 178 |
Pre-Modification Recorded Investment | $ 866 | $ 2,223 |
Post Modification Recorded Investment | 898 | 2,136 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 10 | $ 42 |
Consumer | Home equity lines of credit | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 1 | 2 |
Pre-Modification Recorded Investment | $ 245 | $ 176 |
Post Modification Recorded Investment | 236 | 228 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 67 | $ 54 |
Consumer | Personal loans | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 265 | 303 |
Pre-Modification Recorded Investment | $ 3,581 | $ 4,222 |
Post Modification Recorded Investment | 3,479 | 4,217 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 671 | $ 899 |
Consumer | Auto Loan | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 130 | 10 |
Pre-Modification Recorded Investment | $ 1,631 | $ 199 |
Post Modification Recorded Investment | 1,631 | 206 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 5 | $ 65 |
Consumer | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 1 | 8 |
Pre-Modification Recorded Investment | $ 8 | $ 305 |
Post Modification Recorded Investment | 8 | 303 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 1 | $ 124 |
Leasing | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 37 | 2 |
Pre-Modification Recorded Investment | $ 1,181 | $ 40 |
Post Modification Recorded Investment | 1,180 | 38 |
Increase (decrease) in the allowance for loan losses as a result of modification | $ 13 | $ 5 |
Allowance for credit losses -_5
Allowance for credit losses - T D R that subsequently defaulted (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 USD ($) loans | Dec. 31, 2021 USD ($) loans | |
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 163 | 225 |
Recorded investment as of first default date | $ | $ 17,822 | $ 25,483 |
Mortgages | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 75 | 104 |
Recorded investment as of first default date | $ | $ 9,391 | $ 10,543 |
Commercial | CRE non-owner occupied | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 4 | |
Recorded investment as of first default date | $ | $ 8,421 | |
Commercial | CRE owner occupied | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 2 | 4 |
Recorded investment as of first default date | $ | $ 620 | $ 4,500 |
Commercial | Commercial and Industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 7 | 5 |
Recorded investment as of first default date | $ | $ 6,639 | $ 317 |
Leasing | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 1 | |
Recorded investment as of first default date | $ | $ 5 | |
Consumer | Credit card | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 29 | 81 |
Recorded investment as of first default date | $ | $ 249 | $ 979 |
Consumer | Personal loans | ||
Financing Receivable, Modifications [Line Items] | ||
Loan count | loans | 49 | 27 |
Recorded investment as of first default date | $ | $ 918 | $ 723 |
Allowance for credit losses - C
Allowance for credit losses - Credit quality indicators (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | $ 7,470,324 | $ 6,846,687 |
2021 / 2020 | 5,736,879 | 4,151,913 |
2020 / 2019 | 3,444,280 | 3,156,760 |
2019 / 2018 | 2,356,222 | 2,335,830 |
2018 / 2017 | 1,633,775 | 1,379,915 |
Prior Years | 8,468,021 | 8,994,389 |
Revolving Loans Amortized Cost Basis | 2,923,375 | 2,314,896 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 44,893 | 60,167 |
Total | 32,077,769 | 29,240,557 |
Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 212,762 | 152,183 |
2021 / 2020 | 195,653 | 191,967 |
2020 / 2019 | 118,597 | 190,285 |
2019 / 2018 | 102,359 | 57,829 |
2018 / 2017 | 35,713 | 80,936 |
Prior Years | 59,802 | 20,760 |
Revolving Loans Amortized Cost Basis | 33,098 | 22,260 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 757,984 | 716,220 |
Construction | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 35,446 | 0 |
2021 / 2020 | 15,201 | 14,300 |
2020 / 2019 | 98 | 23,547 |
2019 / 2018 | 6,979 | 28,757 |
2018 / 2017 | 18,310 | 34,205 |
Prior Years | 34,126 | 0 |
Revolving Loans Amortized Cost Basis | 141 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 110,301 | 100,809 |
Construction | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 3 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 13,622 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3 | 13,622 |
Construction | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 11,052 | 485 |
2019 / 2018 | 0 | 15,438 |
2018 / 2017 | 6,540 | 10,231 |
Prior Years | 2,095 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 19,687 | 26,154 |
Construction | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 177,316 | 152,183 |
2021 / 2020 | 180,449 | 177,667 |
2020 / 2019 | 107,447 | 166,253 |
2019 / 2018 | 95,380 | 13,634 |
2018 / 2017 | 10,863 | 36,500 |
Prior Years | 23,581 | 7,138 |
Revolving Loans Amortized Cost Basis | 32,957 | 22,260 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 627,993 | 575,635 |
Mortgages | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 685,881 | 790,383 |
2021 / 2020 | 756,814 | 576,284 |
2020 / 2019 | 532,659 | 447,641 |
2019 / 2018 | 395,990 | 333,805 |
2018 / 2017 | 300,416 | 205,885 |
Prior Years | 4,725,711 | 5,073,198 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 7,397,471 | 7,427,196 |
Mortgages | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 2,583 | 5,292 |
2020 / 2019 | 4,165 | 9,106 |
2019 / 2018 | 7,974 | 6,580 |
2018 / 2017 | 5,383 | 4,527 |
Prior Years | 103,757 | 135,370 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 123,862 | 160,875 |
Mortgages | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 685,881 | 790,383 |
2021 / 2020 | 754,231 | 570,992 |
2020 / 2019 | 528,494 | 438,535 |
2019 / 2018 | 388,016 | 327,225 |
2018 / 2017 | 295,033 | 201,358 |
Prior Years | 4,621,954 | 4,937,828 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 7,273,609 | 7,266,321 |
Commercial | Commercial multi-family | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 641,171 | 456,149 |
2021 / 2020 | 423,164 | 308,193 |
2020 / 2019 | 267,140 | 369,511 |
2019 / 2018 | 339,832 | 233,519 |
2018 / 2017 | 194,860 | 97,289 |
Prior Years | 452,661 | 493,653 |
Revolving Loans Amortized Cost Basis | 2,885 | 4,316 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 2,321,713 | 1,962,630 |
Commercial | Commercial multi-family | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 750 | 8,600 |
2021 / 2020 | 917 | 41,348 |
2020 / 2019 | 6,218 | 56,229 |
2019 / 2018 | 104,087 | 20,682 |
2018 / 2017 | 9,633 | 37,343 |
Prior Years | 57,522 | 53,238 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 179,127 | 217,440 |
Commercial | Commercial multi-family | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 3,752 |
2020 / 2019 | 1,198 | 9,013 |
2019 / 2018 | 0 | 30,244 |
2018 / 2017 | 14,491 | 11,071 |
Prior Years | 11,064 | 31,322 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 26,753 | 85,402 |
Commercial | Commercial multi-family | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 68,131 |
2019 / 2018 | 9,305 | 12,748 |
2018 / 2017 | 7,373 | 0 |
Prior Years | 6,267 | 24,901 |
Revolving Loans Amortized Cost Basis | 100 | 100 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 23,045 | 105,880 |
Commercial | Commercial multi-family | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 640,421 | 447,549 |
2021 / 2020 | 422,247 | 263,093 |
2020 / 2019 | 259,724 | 236,138 |
2019 / 2018 | 226,440 | 169,845 |
2018 / 2017 | 163,363 | 48,875 |
Prior Years | 377,808 | 384,192 |
Revolving Loans Amortized Cost Basis | 2,785 | 4,216 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 2,092,788 | 1,553,908 |
Commercial | CRE non-owner occupied | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,417,203 | 1,221,538 |
2021 / 2020 | 840,648 | 736,803 |
2020 / 2019 | 558,530 | 353,869 |
2019 / 2018 | 253,228 | 490,076 |
2018 / 2017 | 196,797 | 353,383 |
Prior Years | 1,208,015 | 1,435,606 |
Revolving Loans Amortized Cost Basis | 25,249 | 22,115 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 4,499,670 | 4,613,390 |
Commercial | CRE non-owner occupied | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 173 | 113,181 |
2021 / 2020 | 38,395 | 250,961 |
2020 / 2019 | 27,667 | 67,510 |
2019 / 2018 | 18,297 | 193,620 |
2018 / 2017 | 34,708 | 31,010 |
Prior Years | 129,118 | 359,593 |
Revolving Loans Amortized Cost Basis | 0 | 4,017 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 248,358 | 1,019,892 |
Commercial | CRE non-owner occupied | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 21,448 |
2021 / 2020 | 4,361 | 12,563 |
2020 / 2019 | 19,970 | 10,476 |
2019 / 2018 | 8,870 | 7,025 |
2018 / 2017 | 0 | 15,181 |
Prior Years | 100,809 | 39,625 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 134,010 | 106,318 |
Commercial | CRE non-owner occupied | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 8,933 | 30,155 |
2021 / 2020 | 2,864 | 28,546 |
2020 / 2019 | 5,358 | 30,605 |
2019 / 2018 | 22,224 | 40,000 |
2018 / 2017 | 26,919 | 14,154 |
Prior Years | 25,786 | 132,730 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 92,084 | 276,190 |
Commercial | CRE non-owner occupied | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,408,097 | 1,056,754 |
2021 / 2020 | 795,028 | 444,733 |
2020 / 2019 | 505,535 | 245,278 |
2019 / 2018 | 203,837 | 249,431 |
2018 / 2017 | 135,170 | 293,038 |
Prior Years | 952,302 | 903,658 |
Revolving Loans Amortized Cost Basis | 25,249 | 18,098 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 4,025,218 | 3,210,990 |
Commercial | CRE owner occupied | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 609,570 | 389,357 |
2021 / 2020 | 693,164 | 255,915 |
2020 / 2019 | 406,337 | 106,487 |
2019 / 2018 | 133,797 | 101,899 |
2018 / 2017 | 238,349 | 67,930 |
Prior Years | 973,433 | 871,975 |
Revolving Loans Amortized Cost Basis | 23,899 | 24,539 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3,078,549 | 1,818,102 |
Commercial | CRE owner occupied | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 2,296 | 8,393 |
2021 / 2020 | 5,271 | 8,851 |
2020 / 2019 | 10,644 | 16,797 |
2019 / 2018 | 5,354 | 15,108 |
2018 / 2017 | 37,744 | 4,715 |
Prior Years | 126,573 | 138,848 |
Revolving Loans Amortized Cost Basis | 0 | 4,222 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 187,882 | 196,934 |
Commercial | CRE owner occupied | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 10 | 5,573 |
2021 / 2020 | 284 | 857 |
2020 / 2019 | 5,570 | 7,598 |
2019 / 2018 | 6,578 | 1,427 |
2018 / 2017 | 1,076 | 2,449 |
Prior Years | 62,361 | 105,272 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 75,879 | 123,176 |
Commercial | CRE owner occupied | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 16,205 | 6,960 |
2021 / 2020 | 6,177 | 1,028 |
2020 / 2019 | 802 | 2,794 |
2019 / 2018 | 8,203 | 38,407 |
2018 / 2017 | 11,935 | 1,869 |
Prior Years | 117,791 | 134,129 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 161,113 | 185,187 |
Commercial | CRE owner occupied | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 76 |
Prior Years | 505 | 612 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 505 | 688 |
Commercial | CRE owner occupied | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 591,059 | 368,431 |
2021 / 2020 | 681,432 | 245,179 |
2020 / 2019 | 389,321 | 79,298 |
2019 / 2018 | 113,662 | 46,957 |
2018 / 2017 | 187,594 | 58,821 |
Prior Years | 666,203 | 493,114 |
Revolving Loans Amortized Cost Basis | 23,899 | 20,317 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 2,653,170 | 1,312,117 |
Commercial | Commercial and Industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,028,824 | 1,320,064 |
2021 / 2020 | 1,037,250 | 710,527 |
2020 / 2019 | 604,714 | 536,114 |
2019 / 2018 | 409,318 | 453,570 |
2018 / 2017 | 279,591 | 270,369 |
Prior Years | 808,935 | 841,485 |
Revolving Loans Amortized Cost Basis | 1,670,568 | 1,206,450 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 5,839,200 | 5,338,579 |
Commercial | Commercial and Industrial | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 44,704 | 190,276 |
2021 / 2020 | 4,403 | 17,209 |
2020 / 2019 | 17,515 | 25,828 |
2019 / 2018 | 20,878 | 113,108 |
2018 / 2017 | 23,921 | 14,582 |
Prior Years | 52,134 | 92,306 |
Revolving Loans Amortized Cost Basis | 60,799 | 112,108 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 224,354 | 565,417 |
Commercial | Commercial and Industrial | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 3,799 | 9,884 |
2021 / 2020 | 3,609 | 17,139 |
2020 / 2019 | 6,084 | 15,526 |
2019 / 2018 | 1,383 | 28,954 |
2018 / 2017 | 6,827 | 1,071 |
Prior Years | 46,040 | 28,663 |
Revolving Loans Amortized Cost Basis | 6,286 | 68,574 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 74,028 | 169,811 |
Commercial | Commercial and Industrial | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,049 | 2,727 |
2021 / 2020 | 2,211 | 1,188 |
2020 / 2019 | 1,674 | 7,600 |
2019 / 2018 | 7,416 | 36,321 |
2018 / 2017 | 11,851 | 66,939 |
Prior Years | 42,465 | 47,058 |
Revolving Loans Amortized Cost Basis | 47,634 | 38,162 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 114,300 | 199,995 |
Commercial | Commercial and Industrial | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 29 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 75 | 0 |
Prior Years | 75 | 62 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 179 | 62 |
Commercial | Commercial and Industrial | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 292 | 262 |
2021 / 2020 | 525 | 58 |
2020 / 2019 | 1 | 108 |
2019 / 2018 | 75 | 17 |
2018 / 2017 | 192 | 51 |
Prior Years | 3 | 191 |
Revolving Loans Amortized Cost Basis | 144 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,232 | 687 |
Commercial | Commercial and Industrial | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 978,980 | 1,116,915 |
2021 / 2020 | 1,026,502 | 674,933 |
2020 / 2019 | 579,411 | 487,052 |
2019 / 2018 | 379,566 | 275,170 |
2018 / 2017 | 236,725 | 187,726 |
Prior Years | 668,218 | 673,205 |
Revolving Loans Amortized Cost Basis | 1,555,705 | 987,606 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 5,425,107 | 4,402,607 |
Leasing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 673,247 | 613,576 |
2021 / 2020 | 430,380 | 328,703 |
2020 / 2019 | 238,880 | 223,650 |
2019 / 2018 | 147,424 | 133,726 |
2018 / 2017 | 80,578 | 63,510 |
Prior Years | 15,230 | 18,154 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,585,739 | 1,381,319 |
Leasing | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 953 | 124 |
2021 / 2020 | 1,491 | 618 |
2020 / 2019 | 941 | 880 |
2019 / 2018 | 1,172 | 613 |
2018 / 2017 | 1,127 | 613 |
Prior Years | 215 | 235 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 5,899 | 3,083 |
Leasing | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 21 | 1 |
2018 / 2017 | 0 | 16 |
Prior Years | 21 | 2 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 42 | 19 |
Leasing | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 672,294 | 613,452 |
2021 / 2020 | 428,889 | 328,085 |
2020 / 2019 | 237,939 | 222,770 |
2019 / 2018 | 146,231 | 133,112 |
2018 / 2017 | 79,451 | 62,881 |
Prior Years | 14,994 | 17,917 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,579,798 | 1,378,217 |
Consumer | Credit card | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 1,041,870 | 919,861 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,041,870 | 919,861 |
Consumer | Credit card | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 11,907 | 8,577 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 11,907 | 8,577 |
Consumer | Credit card | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | |
2021 / 2020 | 0 | |
2020 / 2019 | 0 | |
2019 / 2018 | 0 | |
2018 / 2017 | 0 | |
Prior Years | 0 | |
Revolving Loans Amortized Cost Basis | 3 | |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | |
Total | 3 | |
Consumer | Credit card | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 1,029,960 | 911,284 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,029,960 | 911,284 |
Consumer | Home equity lines of credit | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 11,319 | 14,636 |
Revolving Loans Amortized Cost Basis | 44,698 | 41,838 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 15,899 | 22,388 |
Total | 71,916 | 78,862 |
Consumer | Home equity lines of credit | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 2,146 | 3,006 |
Revolving Loans Amortized Cost Basis | 20 | 23 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 1,402 | 935 |
Total | 3,568 | 3,964 |
Consumer | Home equity lines of credit | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 4 | 207 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 538 | 1,258 |
Total | 542 | 1,465 |
Consumer | Home equity lines of credit | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 9,169 | 11,423 |
Revolving Loans Amortized Cost Basis | 44,678 | 41,815 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 13,959 | 20,195 |
Total | 67,806 | 73,433 |
Consumer | Personal loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,008,668 | 615,670 |
2021 / 2020 | 369,584 | 217,756 |
2020 / 2019 | 111,642 | 273,036 |
2019 / 2018 | 133,043 | 99,698 |
2018 / 2017 | 49,180 | 57,385 |
Prior Years | 122,468 | 141,555 |
Revolving Loans Amortized Cost Basis | 0 | 126 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 28,994 | 37,779 |
Total | 1,823,579 | 1,443,005 |
Consumer | Personal loans | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,951 | 498 |
2021 / 2020 | 2,455 | 691 |
2020 / 2019 | 913 | 2,355 |
2019 / 2018 | 2,012 | 939 |
2018 / 2017 | 573 | 953 |
Prior Years | 10,837 | 15,843 |
Revolving Loans Amortized Cost Basis | 0 | 2 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 1,285 | 1,385 |
Total | 20,026 | 22,666 |
Consumer | Personal loans | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 30 |
2021 / 2020 | 0 | 2 |
2020 / 2019 | 53 | 7 |
2019 / 2018 | 20 | 0 |
2018 / 2017 | 31 | 0 |
Prior Years | 431 | 22 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 1 | 0 |
Total | 536 | 61 |
Consumer | Personal loans | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,006,717 | 615,142 |
2021 / 2020 | 367,129 | 217,063 |
2020 / 2019 | 110,676 | 270,674 |
2019 / 2018 | 131,011 | 98,759 |
2018 / 2017 | 48,576 | 56,432 |
Prior Years | 111,200 | 125,690 |
Revolving Loans Amortized Cost Basis | 0 | 124 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 27,708 | 36,394 |
Total | 1,803,017 | 1,420,278 |
Consumer | Auto Loan | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,163,441 | 1,262,922 |
2021 / 2020 | 972,783 | 815,870 |
2020 / 2019 | 598,714 | 646,798 |
2019 / 2018 | 436,437 | 425,032 |
2018 / 2017 | 252,932 | 179,314 |
Prior Years | 88,223 | 82,251 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3,512,530 | 3,412,187 |
Consumer | Auto Loan | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 6,764 | 3,080 |
2021 / 2020 | 11,171 | 7,520 |
2020 / 2019 | 10,466 | 9,498 |
2019 / 2018 | 10,243 | 4,739 |
2018 / 2017 | 4,597 | 2,210 |
Prior Years | 2,382 | 1,422 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 45,623 | 28,469 |
Consumer | Auto Loan | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 23 | 42 |
2021 / 2020 | 41 | 11 |
2020 / 2019 | 48 | 0 |
2019 / 2018 | 25 | 0 |
2018 / 2017 | 7 | 0 |
Prior Years | 14 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 158 | 53 |
Consumer | Auto Loan | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,156,654 | 1,259,800 |
2021 / 2020 | 961,571 | 808,339 |
2020 / 2019 | 588,200 | 637,300 |
2019 / 2018 | 426,169 | 420,293 |
2018 / 2017 | 248,328 | 177,104 |
Prior Years | 85,827 | 80,829 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3,466,749 | 3,383,665 |
Consumer | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 29,557 | 24,845 |
2021 / 2020 | 17,439 | 9,895 |
2020 / 2019 | 7,067 | 9,369 |
2019 / 2018 | 4,794 | 6,676 |
2018 / 2017 | 5,359 | 3,914 |
Prior Years | 2,224 | 1,116 |
Revolving Loans Amortized Cost Basis | 81,108 | 73,391 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 147,548 | 129,206 |
Consumer | Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 114 |
2020 / 2019 | 100 | 21 |
2019 / 2018 | 593 | 487 |
2018 / 2017 | 543 | 0 |
Prior Years | 242 | 135 |
Revolving Loans Amortized Cost Basis | 10,910 | 11,250 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 12,388 | 12,007 |
Consumer | Other | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 579 |
2018 / 2017 | 263 | 0 |
Prior Years | 40 | 34 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 303 | 613 |
Consumer | Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 29,557 | 24,845 |
2021 / 2020 | 17,439 | 9,781 |
2020 / 2019 | 6,967 | 9,348 |
2019 / 2018 | 4,201 | 5,610 |
2018 / 2017 | 4,553 | 3,914 |
Prior Years | 1,942 | 947 |
Revolving Loans Amortized Cost Basis | 70,198 | 62,141 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 134,857 | 116,586 |
Puerto Rico | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 5,284,550 | 4,913,112 |
2021 / 2020 | 3,842,437 | 2,647,120 |
2020 / 2019 | 2,132,518 | 1,898,600 |
2019 / 2018 | 1,331,262 | 1,473,547 |
2018 / 2017 | 920,786 | 749,926 |
Prior Years | 6,511,660 | 7,191,955 |
Revolving Loans Amortized Cost Basis | 2,494,698 | 1,953,343 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 28,994 | 37,779 |
Total | 22,546,905 | 20,865,382 |
Puerto Rico | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 48,490 | 21,596 |
2021 / 2020 | 37,503 | 41,622 |
2020 / 2019 | 25,688 | 1,633 |
2019 / 2018 | 2,262 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 33,098 | 22,260 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 147,041 | 87,111 |
Puerto Rico | Construction | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 35,446 | |
2021 / 2020 | 3,116 | |
2020 / 2019 | 98 | |
2019 / 2018 | 0 | |
2018 / 2017 | 0 | |
Prior Years | 0 | |
Revolving Loans Amortized Cost Basis | 141 | |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | |
Total | 38,801 | |
Puerto Rico | Construction | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 9,629 | 485 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 9,629 | 485 |
Puerto Rico | Construction | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 13,044 | 21,596 |
2021 / 2020 | 34,387 | 41,622 |
2020 / 2019 | 15,961 | 1,148 |
2019 / 2018 | 2,262 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 32,957 | 22,260 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 98,611 | 86,626 |
Puerto Rico | Mortgages | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 449,286 | 463,742 |
2021 / 2020 | 451,601 | 305,734 |
2020 / 2019 | 285,713 | 228,676 |
2019 / 2018 | 208,096 | 270,852 |
2018 / 2017 | 241,234 | 199,292 |
Prior Years | 4,474,349 | 4,783,570 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 6,110,279 | 6,251,866 |
Puerto Rico | Mortgages | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 574 | 954 |
2020 / 2019 | 687 | 5,212 |
2019 / 2018 | 3,926 | 5,613 |
2018 / 2017 | 4,227 | 4,310 |
Prior Years | 93,959 | 122,690 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 103,373 | 138,779 |
Puerto Rico | Mortgages | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 449,286 | 463,742 |
2021 / 2020 | 451,027 | 304,780 |
2020 / 2019 | 285,026 | 223,464 |
2019 / 2018 | 204,170 | 265,239 |
2018 / 2017 | 237,007 | 194,982 |
Prior Years | 4,380,390 | 4,660,880 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 6,006,906 | 6,113,087 |
Puerto Rico | Commercial | Commercial multi-family | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 137,411 | 24,936 |
2021 / 2020 | 22,850 | 21,288 |
2020 / 2019 | 20,821 | 35,822 |
2019 / 2018 | 34,653 | 25,311 |
2018 / 2017 | 24,640 | 2,066 |
Prior Years | 40,898 | 45,235 |
Revolving Loans Amortized Cost Basis | 100 | 111 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 281,373 | 154,769 |
Puerto Rico | Commercial | Commercial multi-family | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 18,508 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 4,687 | 4,485 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 23,195 | 4,485 |
Puerto Rico | Commercial | Commercial multi-family | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 2,692 | 3,025 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 2,692 | 3,025 |
Puerto Rico | Commercial | Commercial multi-family | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 982 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 3,326 | 6,257 |
Revolving Loans Amortized Cost Basis | 100 | 100 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3,426 | 7,339 |
Puerto Rico | Commercial | Commercial multi-family | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 137,411 | 24,936 |
2021 / 2020 | 22,850 | 21,288 |
2020 / 2019 | 20,821 | 34,840 |
2019 / 2018 | 16,145 | 25,311 |
2018 / 2017 | 24,640 | 2,066 |
Prior Years | 30,193 | 31,468 |
Revolving Loans Amortized Cost Basis | 0 | 11 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 252,060 | 139,920 |
Puerto Rico | Commercial | CRE non-owner occupied | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 864,945 | 662,216 |
2021 / 2020 | 626,279 | 357,867 |
2020 / 2019 | 331,310 | 145,267 |
2019 / 2018 | 135,519 | 200,499 |
2018 / 2017 | 68,372 | 52,306 |
Prior Years | 714,766 | 858,819 |
Revolving Loans Amortized Cost Basis | 16,136 | 12,949 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 2,757,327 | 2,289,923 |
Puerto Rico | Commercial | CRE non-owner occupied | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 173 | 100,465 |
2021 / 2020 | 36,228 | 228,852 |
2020 / 2019 | 14,045 | 25,443 |
2019 / 2018 | 14,942 | 137,044 |
2018 / 2017 | 7,777 | 2,406 |
Prior Years | 99,269 | 205,304 |
Revolving Loans Amortized Cost Basis | 0 | 3,237 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 172,434 | 702,751 |
Puerto Rico | Commercial | CRE non-owner occupied | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 18,509 |
2021 / 2020 | 4,361 | 12,563 |
2020 / 2019 | 19,970 | 7,271 |
2019 / 2018 | 7,517 | 0 |
2018 / 2017 | 0 | 4,608 |
Prior Years | 25,540 | 24,056 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 57,388 | 67,007 |
Puerto Rico | Commercial | CRE non-owner occupied | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 8,933 | 30,155 |
2021 / 2020 | 0 | 27,790 |
2020 / 2019 | 3,209 | 24,200 |
2019 / 2018 | 19,004 | 25,456 |
2018 / 2017 | 25,490 | 2,770 |
Prior Years | 21,064 | 72,407 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 77,700 | 182,778 |
Puerto Rico | Commercial | CRE non-owner occupied | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 855,839 | 513,087 |
2021 / 2020 | 585,690 | 88,662 |
2020 / 2019 | 294,086 | 88,353 |
2019 / 2018 | 94,056 | 37,999 |
2018 / 2017 | 35,105 | 42,522 |
Prior Years | 568,893 | 557,052 |
Revolving Loans Amortized Cost Basis | 16,136 | 9,712 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 2,449,805 | 1,337,387 |
Puerto Rico | Commercial | CRE owner occupied | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 245,915 | 259,459 |
2021 / 2020 | 270,205 | 208,939 |
2020 / 2019 | 286,266 | 63,159 |
2019 / 2018 | 42,344 | 67,026 |
2018 / 2017 | 101,524 | 40,018 |
Prior Years | 625,060 | 768,739 |
Revolving Loans Amortized Cost Basis | 16,742 | 16,389 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,588,056 | 1,423,729 |
Puerto Rico | Commercial | CRE owner occupied | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 2,296 | 8,393 |
2021 / 2020 | 5,271 | 8,612 |
2020 / 2019 | 9,447 | 8,972 |
2019 / 2018 | 4,275 | 6,958 |
2018 / 2017 | 31,649 | 3,039 |
Prior Years | 71,568 | 121,716 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 124,506 | 157,690 |
Puerto Rico | Commercial | CRE owner occupied | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 10 | 5,573 |
2021 / 2020 | 284 | 857 |
2020 / 2019 | 1,684 | 7,598 |
2019 / 2018 | 6,578 | 1,427 |
2018 / 2017 | 1,076 | 2,449 |
Prior Years | 61,460 | 103,472 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 71,092 | 121,376 |
Puerto Rico | Commercial | CRE owner occupied | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 16,205 | 6,960 |
2021 / 2020 | 6,177 | 1,028 |
2020 / 2019 | 802 | 1,646 |
2019 / 2018 | 800 | 35,529 |
2018 / 2017 | 770 | 1,869 |
Prior Years | 84,205 | 113,288 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 108,959 | 160,320 |
Puerto Rico | Commercial | CRE owner occupied | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 76 |
Prior Years | 505 | 612 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 505 | 688 |
Puerto Rico | Commercial | CRE owner occupied | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 227,404 | 238,533 |
2021 / 2020 | 258,473 | 198,442 |
2020 / 2019 | 274,333 | 44,943 |
2019 / 2018 | 30,691 | 23,112 |
2018 / 2017 | 68,029 | 32,585 |
Prior Years | 407,322 | 429,651 |
Revolving Loans Amortized Cost Basis | 16,742 | 16,389 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,282,994 | 983,655 |
Puerto Rico | Commercial | Commercial and Industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 829,364 | 1,039,760 |
2021 / 2020 | 690,587 | 358,938 |
2020 / 2019 | 233,905 | 314,790 |
2019 / 2018 | 200,371 | 252,218 |
2018 / 2017 | 99,058 | 154,940 |
Prior Years | 430,526 | 498,323 |
Revolving Loans Amortized Cost Basis | 1,312,697 | 909,479 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3,796,508 | 3,528,448 |
Puerto Rico | Commercial | Commercial and Industrial | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 32,376 | 186,529 |
2021 / 2020 | 2,185 | 12,542 |
2020 / 2019 | 15,493 | 21,536 |
2019 / 2018 | 18,829 | 103,835 |
2018 / 2017 | 15,483 | 14,577 |
Prior Years | 51,602 | 90,776 |
Revolving Loans Amortized Cost Basis | 56,508 | 108,183 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 192,476 | 537,978 |
Puerto Rico | Commercial | Commercial and Industrial | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 2,537 | 7,380 |
2021 / 2020 | 2,479 | 9,936 |
2020 / 2019 | 5,770 | 14,856 |
2019 / 2018 | 1,139 | 28,473 |
2018 / 2017 | 6,767 | 1,012 |
Prior Years | 46,040 | 28,448 |
Revolving Loans Amortized Cost Basis | 6,283 | 60,397 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 71,015 | 150,502 |
Puerto Rico | Commercial | Commercial and Industrial | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 789 | 2,190 |
2021 / 2020 | 1,276 | 1,091 |
2020 / 2019 | 1,600 | 3,041 |
2019 / 2018 | 3,138 | 35,826 |
2018 / 2017 | 11,536 | 66,771 |
Prior Years | 40,636 | 45,168 |
Revolving Loans Amortized Cost Basis | 46,226 | 38,003 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 105,201 | 192,090 |
Puerto Rico | Commercial | Commercial and Industrial | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 29 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 75 | 0 |
Prior Years | 75 | 62 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 179 | 62 |
Puerto Rico | Commercial | Commercial and Industrial | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | |
2021 / 2020 | 0 | |
2020 / 2019 | 0 | |
2019 / 2018 | 0 | |
2018 / 2017 | 0 | |
Prior Years | 0 | |
Revolving Loans Amortized Cost Basis | 144 | |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | |
Total | 144 | |
Puerto Rico | Commercial | Commercial and Industrial | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 793,662 | 843,661 |
2021 / 2020 | 684,647 | 335,369 |
2020 / 2019 | 211,013 | 275,357 |
2019 / 2018 | 177,265 | 84,084 |
2018 / 2017 | 65,197 | 72,580 |
Prior Years | 292,173 | 333,869 |
Revolving Loans Amortized Cost Basis | 1,203,536 | 702,896 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3,427,493 | 2,647,816 |
Puerto Rico | Leasing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 673,247 | 613,576 |
2021 / 2020 | 430,380 | 328,703 |
2020 / 2019 | 238,880 | 223,650 |
2019 / 2018 | 147,424 | 133,726 |
2018 / 2017 | 80,578 | 63,510 |
Prior Years | 15,230 | 18,154 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,585,739 | 1,381,319 |
Puerto Rico | Leasing | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 953 | 124 |
2021 / 2020 | 1,491 | 618 |
2020 / 2019 | 941 | 880 |
2019 / 2018 | 1,172 | 613 |
2018 / 2017 | 1,127 | 613 |
Prior Years | 215 | 235 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 5,899 | 3,083 |
Puerto Rico | Leasing | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 21 | 1 |
2018 / 2017 | 0 | 16 |
Prior Years | 21 | 2 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 42 | 19 |
Puerto Rico | Leasing | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 672,294 | 613,452 |
2021 / 2020 | 428,889 | 328,085 |
2020 / 2019 | 237,939 | 222,770 |
2019 / 2018 | 146,231 | 133,112 |
2018 / 2017 | 79,451 | 62,881 |
Prior Years | 14,994 | 17,917 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,579,798 | 1,378,217 |
Puerto Rico | Consumer | Credit card | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 1,041,831 | 919,851 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,041,831 | 919,851 |
Puerto Rico | Consumer | Credit card | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 11,907 | 8,577 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 11,907 | 8,577 |
Puerto Rico | Consumer | Credit card | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | |
2021 / 2020 | 0 | |
2020 / 2019 | 0 | |
2019 / 2018 | 0 | |
2018 / 2017 | 0 | |
Prior Years | 0 | |
Revolving Loans Amortized Cost Basis | 3 | |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | |
Total | 3 | |
Puerto Rico | Consumer | Credit card | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 1,029,921 | 911,274 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,029,921 | 911,274 |
Puerto Rico | Consumer | Home equity lines of credit | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 2,954 | 3,571 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 2,954 | 3,571 |
Puerto Rico | Consumer | Home equity lines of credit | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | |
2021 / 2020 | 0 | |
2020 / 2019 | 0 | |
2019 / 2018 | 0 | |
2018 / 2017 | 0 | |
Prior Years | 0 | |
Revolving Loans Amortized Cost Basis | 23 | |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | |
Total | 23 | |
Puerto Rico | Consumer | Home equity lines of credit | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 2,954 | 3,548 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 2,954 | 3,548 |
Puerto Rico | Consumer | Personal loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 842,894 | 540,060 |
2021 / 2020 | 322,810 | 198,264 |
2020 / 2019 | 104,154 | 229,436 |
2019 / 2018 | 119,362 | 92,207 |
2018 / 2017 | 47,089 | 54,566 |
Prior Years | 120,384 | 135,748 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 28,994 | 37,779 |
Total | 1,585,687 | 1,288,060 |
Puerto Rico | Consumer | Personal loans | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,330 | 426 |
2021 / 2020 | 2,001 | 610 |
2020 / 2019 | 764 | 2,105 |
2019 / 2018 | 1,774 | 866 |
2018 / 2017 | 503 | 936 |
Prior Years | 10,831 | 15,680 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 1,285 | 1,385 |
Total | 18,488 | 22,008 |
Puerto Rico | Consumer | Personal loans | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 30 |
2021 / 2020 | 0 | 2 |
2020 / 2019 | 53 | 3 |
2019 / 2018 | 20 | 0 |
2018 / 2017 | 31 | 0 |
Prior Years | 10 | 3 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 1 | 0 |
Total | 115 | 38 |
Puerto Rico | Consumer | Personal loans | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 841,564 | 539,604 |
2021 / 2020 | 320,809 | 197,652 |
2020 / 2019 | 103,337 | 227,328 |
2019 / 2018 | 117,568 | 91,341 |
2018 / 2017 | 46,555 | 53,630 |
Prior Years | 109,543 | 120,065 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 27,708 | 36,394 |
Total | 1,567,084 | 1,266,014 |
Puerto Rico | Consumer | Auto Loan | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,163,441 | 1,262,922 |
2021 / 2020 | 972,783 | 815,870 |
2020 / 2019 | 598,714 | 646,798 |
2019 / 2018 | 436,437 | 425,032 |
2018 / 2017 | 252,932 | 179,314 |
Prior Years | 88,223 | 82,251 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3,512,530 | 3,412,187 |
Puerto Rico | Consumer | Auto Loan | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 6,764 | 3,080 |
2021 / 2020 | 11,171 | 7,520 |
2020 / 2019 | 10,466 | 9,498 |
2019 / 2018 | 10,243 | 4,739 |
2018 / 2017 | 4,597 | 2,210 |
Prior Years | 2,382 | 1,422 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 45,623 | 28,469 |
Puerto Rico | Consumer | Auto Loan | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 23 | 42 |
2021 / 2020 | 41 | 11 |
2020 / 2019 | 48 | 0 |
2019 / 2018 | 25 | 0 |
2018 / 2017 | 7 | 0 |
Prior Years | 14 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 158 | 53 |
Puerto Rico | Consumer | Auto Loan | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,156,654 | 1,259,800 |
2021 / 2020 | 961,571 | 808,339 |
2020 / 2019 | 588,200 | 637,300 |
2019 / 2018 | 426,169 | 420,293 |
2018 / 2017 | 248,328 | 177,104 |
Prior Years | 85,827 | 80,829 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3,466,749 | 3,383,665 |
Puerto Rico | Consumer | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 29,557 | 24,845 |
2021 / 2020 | 17,439 | 9,895 |
2020 / 2019 | 7,067 | 9,369 |
2019 / 2018 | 4,794 | 6,676 |
2018 / 2017 | 5,359 | 3,914 |
Prior Years | 2,224 | 1,116 |
Revolving Loans Amortized Cost Basis | 71,140 | 68,733 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 137,580 | 124,548 |
Puerto Rico | Consumer | Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 114 |
2020 / 2019 | 100 | 21 |
2019 / 2018 | 593 | 487 |
2018 / 2017 | 543 | 0 |
Prior Years | 242 | 135 |
Revolving Loans Amortized Cost Basis | 10,902 | 11,250 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 12,380 | 12,007 |
Puerto Rico | Consumer | Other | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 579 |
2018 / 2017 | 263 | 0 |
Prior Years | 40 | 34 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 303 | 613 |
Puerto Rico | Consumer | Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 29,557 | 24,845 |
2021 / 2020 | 17,439 | 9,781 |
2020 / 2019 | 6,967 | 9,348 |
2019 / 2018 | 4,201 | 5,610 |
2018 / 2017 | 4,553 | 3,914 |
Prior Years | 1,942 | 947 |
Revolving Loans Amortized Cost Basis | 60,238 | 57,483 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 124,897 | 111,928 |
Popular U.S. | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 2,185,774 | 1,933,575 |
2021 / 2020 | 1,894,442 | 1,504,793 |
2020 / 2019 | 1,311,762 | 1,258,160 |
2019 / 2018 | 1,024,960 | 862,283 |
2018 / 2017 | 712,989 | 629,989 |
Prior Years | 1,956,361 | 1,802,434 |
Revolving Loans Amortized Cost Basis | 428,677 | 361,553 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 15,899 | 22,388 |
Total | 9,530,864 | 8,375,175 |
Popular U.S. | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 164,272 | 130,587 |
2021 / 2020 | 158,150 | 150,345 |
2020 / 2019 | 92,909 | 188,652 |
2019 / 2018 | 100,097 | 57,829 |
2018 / 2017 | 35,713 | 80,936 |
Prior Years | 59,802 | 20,760 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 610,943 | 629,109 |
Popular U.S. | Construction | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 12,085 | 14,300 |
2020 / 2019 | 0 | 23,547 |
2019 / 2018 | 6,979 | 28,757 |
2018 / 2017 | 18,310 | 34,205 |
Prior Years | 34,126 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 71,500 | 100,809 |
Popular U.S. | Construction | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 3 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 13,622 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3 | 13,622 |
Popular U.S. | Construction | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 1,423 | 0 |
2019 / 2018 | 0 | 15,438 |
2018 / 2017 | 6,540 | 10,231 |
Prior Years | 2,095 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 10,058 | 25,669 |
Popular U.S. | Construction | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 164,272 | 130,587 |
2021 / 2020 | 146,062 | 136,045 |
2020 / 2019 | 91,486 | 165,105 |
2019 / 2018 | 93,118 | 13,634 |
2018 / 2017 | 10,863 | 36,500 |
Prior Years | 23,581 | 7,138 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 529,382 | 489,009 |
Popular U.S. | Mortgages | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 236,595 | 326,641 |
2021 / 2020 | 305,213 | 270,550 |
2020 / 2019 | 246,946 | 218,965 |
2019 / 2018 | 187,894 | 62,953 |
2018 / 2017 | 59,182 | 6,593 |
Prior Years | 251,362 | 289,628 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,287,192 | 1,175,330 |
Popular U.S. | Mortgages | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 2,009 | 4,338 |
2020 / 2019 | 3,478 | 3,894 |
2019 / 2018 | 4,048 | 967 |
2018 / 2017 | 1,156 | 217 |
Prior Years | 9,798 | 12,680 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 20,489 | 22,096 |
Popular U.S. | Mortgages | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 236,595 | 326,641 |
2021 / 2020 | 303,204 | 266,212 |
2020 / 2019 | 243,468 | 215,071 |
2019 / 2018 | 183,846 | 61,986 |
2018 / 2017 | 58,026 | 6,376 |
Prior Years | 241,564 | 276,948 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,266,703 | 1,153,234 |
Popular U.S. | Commercial | Commercial multi-family | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 503,760 | 431,213 |
2021 / 2020 | 400,314 | 286,905 |
2020 / 2019 | 246,319 | 333,689 |
2019 / 2018 | 305,179 | 208,208 |
2018 / 2017 | 170,220 | 95,223 |
Prior Years | 411,763 | 448,418 |
Revolving Loans Amortized Cost Basis | 2,785 | 4,205 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 2,040,340 | 1,807,861 |
Popular U.S. | Commercial | Commercial multi-family | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 750 | 8,600 |
2021 / 2020 | 917 | 41,348 |
2020 / 2019 | 6,218 | 56,229 |
2019 / 2018 | 85,579 | 20,682 |
2018 / 2017 | 9,633 | 37,343 |
Prior Years | 52,835 | 48,753 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 155,932 | 212,955 |
Popular U.S. | Commercial | Commercial multi-family | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 3,752 |
2020 / 2019 | 1,198 | 9,013 |
2019 / 2018 | 0 | 30,244 |
2018 / 2017 | 14,491 | 11,071 |
Prior Years | 8,372 | 28,297 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 24,061 | 82,377 |
Popular U.S. | Commercial | Commercial multi-family | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 67,149 |
2019 / 2018 | 9,305 | 12,748 |
2018 / 2017 | 7,373 | 0 |
Prior Years | 2,941 | 18,644 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 19,619 | 98,541 |
Popular U.S. | Commercial | Commercial multi-family | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 503,010 | 422,613 |
2021 / 2020 | 399,397 | 241,805 |
2020 / 2019 | 238,903 | 201,298 |
2019 / 2018 | 210,295 | 144,534 |
2018 / 2017 | 138,723 | 46,809 |
Prior Years | 347,615 | 352,724 |
Revolving Loans Amortized Cost Basis | 2,785 | 4,205 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,840,728 | 1,413,988 |
Popular U.S. | Commercial | CRE non-owner occupied | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 552,258 | 559,322 |
2021 / 2020 | 214,369 | 378,936 |
2020 / 2019 | 227,220 | 208,602 |
2019 / 2018 | 117,709 | 289,577 |
2018 / 2017 | 128,425 | 301,077 |
Prior Years | 493,249 | 576,787 |
Revolving Loans Amortized Cost Basis | 9,113 | 9,166 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,742,343 | 2,323,467 |
Popular U.S. | Commercial | CRE non-owner occupied | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 12,716 |
2021 / 2020 | 2,167 | 22,109 |
2020 / 2019 | 13,622 | 42,067 |
2019 / 2018 | 3,355 | 56,576 |
2018 / 2017 | 26,931 | 28,604 |
Prior Years | 29,849 | 154,289 |
Revolving Loans Amortized Cost Basis | 0 | 780 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 75,924 | 317,141 |
Popular U.S. | Commercial | CRE non-owner occupied | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 2,939 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 3,205 |
2019 / 2018 | 1,353 | 7,025 |
2018 / 2017 | 0 | 10,573 |
Prior Years | 75,269 | 15,569 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 76,622 | 39,311 |
Popular U.S. | Commercial | CRE non-owner occupied | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 2,864 | 756 |
2020 / 2019 | 2,149 | 6,405 |
2019 / 2018 | 3,220 | 14,544 |
2018 / 2017 | 1,429 | 11,384 |
Prior Years | 4,722 | 60,323 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 14,384 | 93,412 |
Popular U.S. | Commercial | CRE non-owner occupied | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 552,258 | 543,667 |
2021 / 2020 | 209,338 | 356,071 |
2020 / 2019 | 211,449 | 156,925 |
2019 / 2018 | 109,781 | 211,432 |
2018 / 2017 | 100,065 | 250,516 |
Prior Years | 383,409 | 346,606 |
Revolving Loans Amortized Cost Basis | 9,113 | 8,386 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,575,413 | 1,873,603 |
Popular U.S. | Commercial | CRE owner occupied | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 363,655 | 129,898 |
2021 / 2020 | 422,959 | 46,976 |
2020 / 2019 | 120,071 | 43,328 |
2019 / 2018 | 91,453 | 34,873 |
2018 / 2017 | 136,825 | 27,912 |
Prior Years | 348,373 | 103,236 |
Revolving Loans Amortized Cost Basis | 7,157 | 8,150 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,490,493 | 394,373 |
Popular U.S. | Commercial | CRE owner occupied | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 239 |
2020 / 2019 | 1,197 | 7,825 |
2019 / 2018 | 1,079 | 8,150 |
2018 / 2017 | 6,095 | 1,676 |
Prior Years | 55,005 | 17,132 |
Revolving Loans Amortized Cost Basis | 0 | 4,222 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 63,376 | 39,244 |
Popular U.S. | Commercial | CRE owner occupied | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 3,886 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 901 | 1,800 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 4,787 | 1,800 |
Popular U.S. | Commercial | CRE owner occupied | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 1,148 |
2019 / 2018 | 7,403 | 2,878 |
2018 / 2017 | 11,165 | 0 |
Prior Years | 33,586 | 20,841 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 52,154 | 24,867 |
Popular U.S. | Commercial | CRE owner occupied | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 363,655 | 129,898 |
2021 / 2020 | 422,959 | 46,737 |
2020 / 2019 | 114,988 | 34,355 |
2019 / 2018 | 82,971 | 23,845 |
2018 / 2017 | 119,565 | 26,236 |
Prior Years | 258,881 | 63,463 |
Revolving Loans Amortized Cost Basis | 7,157 | 3,928 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,370,176 | 328,462 |
Popular U.S. | Commercial | Commercial and Industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 199,460 | 280,304 |
2021 / 2020 | 346,663 | 351,589 |
2020 / 2019 | 370,809 | 221,324 |
2019 / 2018 | 208,947 | 201,352 |
2018 / 2017 | 180,533 | 115,429 |
Prior Years | 378,409 | 343,162 |
Revolving Loans Amortized Cost Basis | 357,871 | 296,971 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 2,042,692 | 1,810,131 |
Popular U.S. | Commercial | Commercial and Industrial | Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 12,328 | 3,747 |
2021 / 2020 | 2,218 | 4,667 |
2020 / 2019 | 2,022 | 4,292 |
2019 / 2018 | 2,049 | 9,273 |
2018 / 2017 | 8,438 | 5 |
Prior Years | 532 | 1,530 |
Revolving Loans Amortized Cost Basis | 4,291 | 3,925 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 31,878 | 27,439 |
Popular U.S. | Commercial | Commercial and Industrial | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 1,262 | 2,504 |
2021 / 2020 | 1,130 | 7,203 |
2020 / 2019 | 314 | 670 |
2019 / 2018 | 244 | 481 |
2018 / 2017 | 60 | 59 |
Prior Years | 0 | 215 |
Revolving Loans Amortized Cost Basis | 3 | 8,177 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 3,013 | 19,309 |
Popular U.S. | Commercial | Commercial and Industrial | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 260 | 537 |
2021 / 2020 | 935 | 97 |
2020 / 2019 | 74 | 4,559 |
2019 / 2018 | 4,278 | 495 |
2018 / 2017 | 315 | 168 |
Prior Years | 1,829 | 1,890 |
Revolving Loans Amortized Cost Basis | 1,408 | 159 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 9,099 | 7,905 |
Popular U.S. | Commercial | Commercial and Industrial | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 292 | 262 |
2021 / 2020 | 525 | 58 |
2020 / 2019 | 1 | 108 |
2019 / 2018 | 75 | 17 |
2018 / 2017 | 192 | 51 |
Prior Years | 3 | 191 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,088 | 687 |
Popular U.S. | Commercial | Commercial and Industrial | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 185,318 | 273,254 |
2021 / 2020 | 341,855 | 339,564 |
2020 / 2019 | 368,398 | 211,695 |
2019 / 2018 | 202,301 | 191,086 |
2018 / 2017 | 171,528 | 115,146 |
Prior Years | 376,045 | 339,336 |
Revolving Loans Amortized Cost Basis | 352,169 | 284,710 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,997,614 | 1,754,791 |
Popular U.S. | Consumer | Credit card | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 39 | 10 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 39 | 10 |
Popular U.S. | Consumer | Credit card | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 39 | 10 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 39 | 10 |
Popular U.S. | Consumer | Home equity lines of credit | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 11,319 | 14,636 |
Revolving Loans Amortized Cost Basis | 41,744 | 38,267 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 15,899 | 22,388 |
Total | 68,962 | 75,291 |
Popular U.S. | Consumer | Home equity lines of credit | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 2,146 | 3,006 |
Revolving Loans Amortized Cost Basis | 20 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 1,402 | 935 |
Total | 3,568 | 3,941 |
Popular U.S. | Consumer | Home equity lines of credit | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 4 | 207 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 538 | 1,258 |
Total | 542 | 1,465 |
Popular U.S. | Consumer | Home equity lines of credit | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 9,169 | 11,423 |
Revolving Loans Amortized Cost Basis | 41,724 | 38,267 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 13,959 | 20,195 |
Total | 64,852 | 69,885 |
Popular U.S. | Consumer | Personal loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 165,774 | 75,610 |
2021 / 2020 | 46,774 | 19,492 |
2020 / 2019 | 7,488 | 43,600 |
2019 / 2018 | 13,681 | 7,491 |
2018 / 2017 | 2,091 | 2,819 |
Prior Years | 2,084 | 5,807 |
Revolving Loans Amortized Cost Basis | 0 | 126 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 237,892 | 154,945 |
Popular U.S. | Consumer | Personal loans | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 621 | 72 |
2021 / 2020 | 454 | 81 |
2020 / 2019 | 149 | 250 |
2019 / 2018 | 238 | 73 |
2018 / 2017 | 70 | 17 |
Prior Years | 6 | 163 |
Revolving Loans Amortized Cost Basis | 0 | 2 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 1,538 | 658 |
Popular U.S. | Consumer | Personal loans | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 4 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 421 | 19 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 421 | 23 |
Popular U.S. | Consumer | Personal loans | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 165,153 | 75,538 |
2021 / 2020 | 46,320 | 19,411 |
2020 / 2019 | 7,339 | 43,346 |
2019 / 2018 | 13,443 | 7,418 |
2018 / 2017 | 2,021 | 2,802 |
Prior Years | 1,657 | 5,625 |
Revolving Loans Amortized Cost Basis | 0 | 124 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 235,933 | 154,264 |
Popular U.S. | Consumer | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 9,968 | 4,658 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | 9,968 | 4,658 |
Popular U.S. | Consumer | Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | |
2021 / 2020 | 0 | |
2020 / 2019 | 0 | |
2019 / 2018 | 0 | |
2018 / 2017 | 0 | |
Prior Years | 0 | |
Revolving Loans Amortized Cost Basis | 8 | |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | |
Total | 8 | |
Popular U.S. | Consumer | Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2022 / 2021 | 0 | 0 |
2021 / 2020 | 0 | 0 |
2020 / 2019 | 0 | 0 |
2019 / 2018 | 0 | 0 |
2018 / 2017 | 0 | 0 |
Prior Years | 0 | 0 |
Revolving Loans Amortized Cost Basis | 9,960 | 4,658 |
Revolving Loans Converted to Term Loans Amortized Cost Basis | 0 | 0 |
Total | $ 9,960 | $ 4,658 |
Allowance for credit losses -_6
Allowance for credit losses - Allowance for loan losses - Additional Information (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructurings | $ 1,644,647,000 | $ 1,644,647,000 | $ 1,656,822,000 | ||
Allowance for loan and leases losses reduction | (11,000,000) | ||||
Reversion window | 3 years | 1 year | |||
Commercial Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Outstanding commitments to lend additional funds to debtors owing receivables whose terms have been modified in troubled debt restructurings | 12,000,000 | 12,000,000 | 9,000,000 | ||
Note A / B Split | |||||
Financing Receivable, Modifications [Line Items] | |||||
Aggregated unpaid principal balance | $ 2,700,000 | 2,700,000 | 10,200,000 | ||
Loans restructuring charge offs | $ 0 | $ 0 | |||
Number of loans | 3 | 5 |
Mortgage banking activities (De
Mortgage banking activities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Mortgage servicing rights fair value adjustments | $ 166 | $ (10,206) | $ (42,055) |
Net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale | 0 | (73) | 1,234 |
Total trading account (loss) profit | (784) | (389) | 1,033 |
Total mortgage banking activities | 42,450 | 50,133 | 10,401 |
Mortgage banking activities | |||
Mortgage servicing fees | 36,487 | 38,105 | 43,234 |
Mortgage servicing rights fair value adjustments | 236 | (10,206) | (42,055) |
Total mortgage servicing fees, net of fair value adjustments | 36,723 | 27,899 | 1,179 |
Net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale | (251) | 21,684 | 31,215 |
Realized gains (losses) on closed derivative positions | 6,635 | 1,323 | (10,586) |
Total trading account (loss) profit | 6,635 | 1,323 | (10,586) |
Losses on repurchased loans, including interest advances | (657) | (773) | (11,407) |
Total mortgage banking activities | $ 42,450 | $ 50,133 | $ 10,401 |
Mortgage banking activities -su
Mortgage banking activities -subnote (Details) - GNMA $ in Millions | 3 Months Ended |
Sep. 30, 2020 USD ($) | |
Mortgage banking [Line Items] | |
Loss for previously advanced interest on delinquent loans | $ (10.5) |
Bulk loan repurchase | |
Mortgage banking [Line Items] | |
Repurchased loans | $ 687.9 |
Transfers of financial assets_3
Transfers of financial assets and servicing assets - Initial fair value of assets obtained as proceeds from residential mortgage loans securitized (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | $ 305,597 | $ 743,847 |
Level 1 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Level 2 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 300,279 | 732,533 |
Level 3 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 5,318 | 11,314 |
Trading account debt securities | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 300,279 | 732,533 |
Trading account debt securities | Level 1 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Trading account debt securities | Level 2 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 300,279 | 732,533 |
Trading account debt securities | Level 3 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Trading account debt securities | GNMA | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 169,352 | 380,228 |
Trading account debt securities | GNMA | Level 1 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Trading account debt securities | GNMA | Level 2 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 169,352 | 380,228 |
Trading account debt securities | GNMA | Level 3 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Trading account debt securities | FNMA | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 122,422 | 329,617 |
Trading account debt securities | FNMA | Level 1 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Trading account debt securities | FNMA | Level 2 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 122,422 | 329,617 |
Trading account debt securities | FNMA | Level 3 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Trading account debt securities | FHLMC | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 8,505 | 22,688 |
Trading account debt securities | FHLMC | Level 1 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Trading account debt securities | FHLMC | Level 2 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 8,505 | 22,688 |
Trading account debt securities | FHLMC | Level 3 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Mortgage Servicing Rights | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 5,318 | 11,314 |
Mortgage Servicing Rights | Level 1 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Mortgage Servicing Rights | Level 2 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | 0 | 0 |
Mortgage Servicing Rights | Level 3 | ||
Assets | ||
Initial fair value of the assets obtained as proceeds from residential mortgage loans securitized | $ 5,318 | $ 11,314 |
Transfers of financial assets_4
Transfers of financial assets and servicing assets - Changes in MSRs measured using the fair value method (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Transfers and Servicing of Financial Assets | ||
Fair value at beginning of period | $ 121,570 | $ 118,395 |
Additions | 6,614 | 13,391 |
Changes due to payments of loans | (11,063) | (15,383) |
Reduction due to loan repurchases | (779) | (1,233) |
Changes in fair value due to changes in valuation model inputs or assumptions | 12,845 | 6,410 |
Other disposals | (837) | (10) |
Fair value at end of period | $ 128,350 | $ 121,570 |
Transfers of financial assets_5
Transfers of financial assets and servicing assets - Changes in MSRs measured using the fair value method - Parenthetical (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Servicing Assets at Fair Value [Line Items] | |||
Servicing asset at fair value amount | $ 128,350 | $ 121,570 | $ 118,395 |
PB | |||
Servicing Assets at Fair Value [Line Items] | |||
Servicing asset at fair value amount | $ 2,000 | $ 1,600 |
Transfers of financial assets_6
Transfers of financial assets and servicing assets - Key economic assumptions used (Details) - Residential Mortgage | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
BPPR | ||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||
Weighted average prepayment speed (annual rate) | 5.40% | 6.80% |
Weighted average life (in years) | 9 years 6 months | 8 years 3 months 18 days |
Discount rate (annual rate) | 10.50% | 10.50% |
PB | ||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||
Weighted average prepayment speed (annual rate) | 8.10% | 19% |
Weighted average life (in years) | 7 years 9 months 18 days | 20 years 10 months 24 days |
Discount rate (annual rate) | 9.90% | 10.70% |
Transfers of financial assets_7
Transfers of financial assets and servicing assets - Fair value of purchased and originated MSRs, valuation assumptions and sensitivity (Details) - Residential Mortgage - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Originated MSRs | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||
Fair value of servicing rights | $ 41,548 | $ 40,058 |
Weighted average life (in years) | 6 years 9 months 18 days | 6 years 10 months 24 days |
Weighted average prepayment speed (annual rate) | 5.90% | 7.70% |
Impact on fair value of 10% adverse change | $ (730) | $ (1,500) |
Impact on fair value of 20% adverse change | $ (1,433) | $ (2,359) |
Weighted average discount rate (annual rate) | 11.20% | 11.20% |
Impact on fair value of 10% adverse change | $ (1,485) | $ (2,079) |
Impact on fair value of 20% adverse change | (2,876) | (3,452) |
Purchased MSRs | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||
Fair value of servicing rights | $ 86,802 | $ 81,512 |
Weighted average life (in years) | 7 years 1 month 6 days | 7 years 6 months |
Weighted average prepayment speed (annual rate) | 7% | 7.60% |
Impact on fair value of 10% adverse change | $ (1,602) | $ (1,486) |
Impact on fair value of 20% adverse change | $ (3,143) | $ (3,495) |
Weighted average discount rate (annual rate) | 11% | 11% |
Impact on fair value of 10% adverse change | $ (3,256) | $ (2,731) |
Impact on fair value of 20% adverse change | $ (6,304) | $ (5,832) |
Transfers of financial assets_8
Transfers of financial assets and servicing assets - Additional Information (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | ||
Servicing rights on whole loan sales, principal balance | $ 114,000,000 | $ 144,000,000 |
Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale | $ 1,800,000 | $ 3,200,000 |
Weighted average mortgage servicing fees | 0.31% | 0.30% |
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Liabilities Incurred | $ 0 | $ 0 |
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transfer or Servicing Assets Or Liabilities Description Of Objectives Methodology And Limitations | The sensitivity analyses presented in the table above for servicing rights are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10 and 20 percent variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, in the sensitivity tables included herein, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments and increased credit losses), which might magnify or counteract the sensitivities. | |
Mortgage loans related to buy-back option program | $ 32,372,925,000 | 29,506,225,000 |
Buy Back Option Program | ||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | ||
Repurchased loans | 58,000,000 | 94,000,000 |
Mortgage loans related to buy-back option program | 14,000,000 | 13,000,000 |
Loans with recourse | ||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | ||
Loans serviced | 600,000,000 | 700,000,000 |
Principal amount 60 days or more past due | 15,000,000 | 26,000,000 |
Residential Mortgage | ||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | ||
Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale | (1,800,000) | 18,400,000 |
Mortgage loans related to buy-back option program | 1,600,000,000 | 1,600,000,000 |
Serviced mortgage loans | ||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | ||
Loans serviced | 11,100,000,000 | 12,100,000,000 |
Serviced mortgage loans | Loans with recourse | ||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | ||
Repurchased loans | $ 7,000,000 | $ 19,000,000 |
Premises and equipment (Detail)
Premises and equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 960,634 | $ 929,891 |
Less - Accumulated depreciation and amortization | 586,479 | 559,234 |
Subtotal | 374,155 | 370,657 |
Construction in progress | 33,931 | 29,337 |
Premises and equipment, net | 498,711 | 494,240 |
Land | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 90,625 | 94,246 |
Building | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 482,030 | 468,293 |
Building | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 50 years | |
Building | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 10 years | |
Equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 388,911 | 374,192 |
Equipment | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 10 years | |
Equipment | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 2 years | |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 89,693 | $ 87,406 |
Leasehold improvements | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 10 years | |
Leasehold improvements | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 3 years |
Premises and equipment - Additi
Premises and equipment - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Premises And Equipmen Additional Information [Abstract] | |||
Depreciation, Depletion and Amortization | $ 55.1 | $ 55.1 | $ 58.4 |
Occupancy Expense | 24.8 | 25.2 | 27.2 |
Equipment technology and software and other operating expenses | 30.3 | 29.8 | 31.2 |
Rental Income | $ 13.1 | $ 13.4 | $ 15.5 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Real Estate Owned Rollforward [Line Items] | |||
Balance at beginning of the period | $ 85,077 | $ 83,146 | $ 122,072 |
Write-downs in value | (2,476) | (3,219) | (4,624) |
Additions | 75,856 | 65,644 | 20,008 |
Sales | (68,906) | (59,948) | (54,156) |
Other adjustments | (425) | (546) | (154) |
Ending balance | 89,126 | 85,077 | 83,146 |
Mortgages | |||
Other Real Estate Owned Rollforward [Line Items] | |||
Balance at beginning of the period | 70,060 | 69,932 | 105,113 |
Write-downs in value | (1,517) | (2,161) | (3,060) |
Additions | 70,069 | 55,898 | 17,785 |
Sales | (61,453) | (52,666) | (49,797) |
Other adjustments | (533) | (943) | (109) |
Ending balance | 76,626 | 70,060 | 69,932 |
Commercial / Construction | |||
Other Real Estate Owned Rollforward [Line Items] | |||
Balance at beginning of the period | 15,017 | 13,214 | 16,959 |
Write-downs in value | (959) | (1,058) | (1,564) |
Additions | 5,787 | 9,746 | 2,223 |
Sales | (7,453) | (7,282) | (4,359) |
Other adjustments | 108 | 397 | (45) |
Ending balance | $ 12,500 | $ 15,017 | $ 13,214 |
Other assets (Details)
Other assets (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other Assets Disclosure [Abstract] | ||
Net deferred tax assets (net of valuation allowance) | $ 953,676 | $ 657,597 |
Investments in equity method investees | 210,001 | 298,988 |
Prepaid taxes | 39,405 | 37,924 |
Other prepaid expenses | 33,384 | 34,937 |
Capitalized computer software costs | 81,862 | 44,908 |
Derivative assets | 19,229 | 26,093 |
Trades receivables from brokers and counterparties | 35,099 | 65,460 |
Receivables from investment maturities | 125,000 | 0 |
Principal, interest and escrow servicing advances | 41,916 | 53,942 |
Guaranteed mortgage loan claims receivable | 59,659 | 98,001 |
Operating ROU assets | 125,573 | 141,748 |
Finance ROU assets | 18,884 | 13,459 |
Others | 104,125 | 155,514 |
Total other assets | $ 1,847,813 | $ 1,628,571 |
Operating Lease Right Of Use Asset Statement Of Financial Position | Other assets | Other assets |
Finance Lease Right Of Use Asset Statement Of Financial Position | Other assets | Other assets |
Other Assets (Software package
Other Assets (Software package amortization) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other assets acquired [Line Items] | ||
Gross Carrying Amount | $ 81,862 | $ 44,908 |
Software Intangible assets | ||
Other assets acquired [Line Items] | ||
Gross Carrying Amount | 121,519 | 227,241 |
Accumulated Amortization | 39,657 | 182,333 |
Net Carrying Value | 81,862 | 44,908 |
Software Intangible assets | Software development costs | ||
Other assets acquired [Line Items] | ||
Gross Carrying Amount | 63,609 | 40,033 |
Accumulated Amortization | 16,803 | 18,972 |
Net Carrying Value | 46,806 | 21,061 |
Software Intangible assets | Software license costs | ||
Other assets acquired [Line Items] | ||
Gross Carrying Amount | 37,165 | 168,862 |
Accumulated Amortization | 14,164 | 154,571 |
Net Carrying Value | 23,001 | 14,291 |
Software Intangible assets | Cloud computing arrangements | ||
Other assets acquired [Line Items] | ||
Gross Carrying Amount | 20,745 | 18,346 |
Accumulated Amortization | 8,690 | 8,790 |
Net Carrying Value | $ 12,055 | $ 9,556 |
Other Assets (Software packag_2
Other Assets (Software package amortization) - subnote (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Jul. 02, 2022 |
EVERTEC Assets | EVERTEC Inc. | ||
Other assets acquired [Line Items] | ||
Developed technology - Software intangible assets | $ 28,700 | $ 28,650 |
Other Assets (Sotware Amortizat
Other Assets (Sotware Amortization Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other assets acquired [Line Items] | |||
Amortization of intangibles | $ 3,275 | $ 9,134 | $ 6,397 |
Software Intangible assets | |||
Other assets acquired [Line Items] | |||
Amortization of intangibles | 58,816 | 49,444 | 45,465 |
Software development and license cost | Software Intangible assets | |||
Other assets acquired [Line Items] | |||
Amortization of intangibles | 55,011 | 45,577 | 43,259 |
Cloud computing arrangements | Software Intangible assets | |||
Other assets acquired [Line Items] | |||
Amortization of intangibles | $ 3,805 | $ 3,867 | $ 2,206 |
Goodwill and other intangible_3
Goodwill and other intangible assets - Change in the carrying amount of goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill [Rollforward] | |||
Beginning Balance | $ 720,293 | $ 671,122 | |
Goodwill on acquisition | 116,135 | 49,171 | |
Goodwill impairment charge | (9,000) | 0 | $ 0 |
Ending Balance | 827,428 | 720,293 | 671,122 |
Banco Popular de Puerto Rico | |||
Goodwill [Rollforward] | |||
Beginning Balance | 320,248 | 320,248 | |
Goodwill on acquisition | 116,135 | 0 | |
Goodwill impairment charge | 0 | 0 | |
Ending Balance | 436,383 | 320,248 | 320,248 |
Popular U.S. | |||
Goodwill [Rollforward] | |||
Beginning Balance | 400,045 | 350,874 | |
Goodwill on acquisition | 0 | 49,171 | |
Goodwill impairment charge | (9,000) | 0 | |
Ending Balance | $ 391,045 | $ 400,045 | $ 350,874 |
Goodwill and other intangible_4
Goodwill and other intangible assets - Components of other intangible assets subject to amortization (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 27,096 | $ 27,096 |
Accumulated Amortization | 14,912 | 11,637 |
Net Carrying Value | 12,184 | 15,459 |
Core deposits | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 12,810 | 12,810 |
Accumulated Amortization | 10,034 | 8,754 |
Net Carrying Value | 2,776 | 4,056 |
Other customer relationship | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 14,286 | 14,286 |
Accumulated Amortization | 4,878 | 2,883 |
Net Carrying Value | $ 9,408 | $ 11,403 |
Goodwill and other intangible_5
Goodwill and other intangible assets - Estimated amortization of the intangible assets with definite useful lives (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Goodwill and Intangible Assets Disclosure | |
Year 2023 | $ 3,179 |
Year 2024 | 2,938 |
Year 2025 | 1,750 |
Year 2026 | 1,440 |
Year 2027 | 959 |
Later years | $ 1,918 |
Goodwill and other intangible_6
Goodwill and other intangible assets - Gross amount of goodwill and accumulated impairment losses (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Oct. 15, 2021 | Dec. 31, 2020 |
Goodwill [Line Items] | ||||
Goodwill Gross | $ 1,004,640 | $ 888,505 | ||
Accumulated impairment losses | 177,212 | 168,212 | ||
Goodwill (net amounts) | 827,428 | 720,293 | $ 49,171 | $ 671,122 |
Banco Popular de Puerto Rico | ||||
Goodwill [Line Items] | ||||
Goodwill Gross | 440,184 | 324,049 | ||
Accumulated impairment losses | 3,801 | 3,801 | ||
Goodwill (net amounts) | 436,383 | 320,248 | 320,248 | |
Popular U.S. | ||||
Goodwill [Line Items] | ||||
Goodwill Gross | 564,456 | 564,456 | ||
Accumulated impairment losses | 173,411 | 164,411 | ||
Goodwill (net amounts) | $ 391,045 | $ 400,045 | $ 350,874 |
Goodwill and other intangible_7
Goodwill and other intangible assets - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Jul. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Oct. 15, 2021 | Jul. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Amortization Of Intangible Assets | $ 3,275,000 | $ 9,134,000 | $ 6,397,000 | ||||
Goodwill on acquisition | 116,135,000 | 49,171,000 | |||||
Goodwill impairment charge | 9,000,000 | 0 | $ 0 | ||||
Popular Equipment Finance | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Goodwill impairment charge | $ 9,000,000 | $ 9,000,000 | |||||
K2 Capital Group LLC | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Identifiable intangible assets | $ 2,887,000 | ||||||
Goodwill impairment charge | $ 9,000,000 | ||||||
Discounted cash flow approach | Minimum | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Cost of equity discount rate | 12.51% | ||||||
Discounted cash flow approach | Maximum | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Cost of equity discount rate | 15.73% | ||||||
Trademarks | E-Loan | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Identifiable intangible assets | $ 700,000 | 700,000 | |||||
Banco Popular de Puerto Rico | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Step 1 Fair Value Excess Over Carrying Amount | $ 3,100,000,000 | $ 1,500,000,000 | |||||
Percentage excess of fair value of reporting unit over equity value | 245% | 50% | |||||
Goodwill on acquisition | 116,135,000 | 0 | |||||
Goodwill impairment charge | 0 | 0 | |||||
Banco Popular de Puerto Rico | EVERTEC Assets | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Goodwill on acquisition | 116,100,000 | ||||||
Popular U.S. | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Step 1 Fair Value Excess Over Carrying Amount | $ 670,000,000 | $ 412,000,000 | |||||
Percentage excess of fair value of reporting unit over equity value | 41% | 24% | |||||
Goodwill on acquisition | 0 | 49,171,000 | |||||
Goodwill impairment charge | $ 9,000,000 | 0 | |||||
Popular U.S. | K2 Capital Group LLC | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Goodwill on acquisition | $ 49,000,000 | ||||||
Banco Popular de Puerto Rico and Popular Bank | |||||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||||
Percentage Of Goodwill | 93% |
Deposits - Total interest beari
Deposits - Total interest bearing deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deposits [Abstract] | ||
Savings accounts | $ 14,746,329 | $ 15,871,998 |
NOW, money market and other interest bearing demand deposits | 23,738,940 | 28,736,459 |
Total savings, NOW, money market and other interest bearing demand deposits | 38,485,269 | 44,608,457 |
Certificates of deposit: | ||
Under $250,000 | 4,235,651 | 4,086,059 |
$250,000 and over | 2,545,750 | 2,626,090 |
Total certificates of deposit | 6,781,401 | 6,712,149 |
Total interest bearing deposits | $ 45,266,670 | $ 51,320,606 |
Deposits - Summary of certifica
Deposits - Summary of certificates of deposit by maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deposits [Abstract] | ||
2023 | $ 3,949,235 | |
2024 | 1,102,195 | |
2025 | 743,799 | |
2026 | 416,106 | |
2027 | 486,738 | |
2028 and thereafter | 83,328 | |
Total certificates of deposit | $ 6,781,401 | $ 6,712,149 |
Deposits - Additional Informati
Deposits - Additional Information (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deposits [Abstract] | ||
Brokered deposits | $ 1,100,000 | $ 800,000 |
Overdrafts in demand deposit accounts reclassified to loans | 6,300 | 6,000 |
Deposit Liability [Line Items] | ||
Deposits | 61,227,227 | $ 67,005,088 |
Public sector | ||
Deposit Liability [Line Items] | ||
Deposits | $ 15,200,000 |
Borrowings - Repurchase agreeme
Borrowings - Repurchase agreements accounted for as secured borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 148,609 | $ 91,603 |
Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 148,609 | $ 91,603 |
Repurchase liability weighted average interest rate | 4.18% | 0.26% |
US Treasury Securities | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 48,670 | $ 78,869 |
Repurchase liability weighted average interest rate | 4.01% | 0.26% |
US Treasury Securities | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 410 | $ 19,538 |
Repurchase liability weighted average interest rate | 4.40% | 0.30% |
US Treasury Securities | After 30 to 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 30,739 | $ 30,295 |
Repurchase liability weighted average interest rate | 3.79% | 0.21% |
US Treasury Securities | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 17,521 | $ 29,036 |
Repurchase liability weighted average interest rate | 4.39% | 0.29% |
Mortgage Backed Securities | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 99,775 | $ 12,455 |
Repurchase liability weighted average interest rate | 4.26% | 0.26% |
Mortgage Backed Securities | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 98,984 | $ 11,733 |
Repurchase liability weighted average interest rate | 4.27% | 0.26% |
Mortgage Backed Securities | After 30 to 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 791 | $ 0 |
Repurchase liability weighted average interest rate | 3.27% | 0% |
Mortgage Backed Securities | After 90 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 0 | $ 722 |
Repurchase liability weighted average interest rate | 0% | 0.16% |
CMO | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 164 | $ 279 |
Repurchase liability weighted average interest rate | 4.25% | 0.25% |
CMO | Within 30 days | Secured Debt | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase liability | $ 164 | $ 279 |
Repurchase liability weighted average interest rate | 4.25% | 0.25% |
Borrowings - Maximum aggregate
Borrowings - Maximum aggregate balance of federal funds purchased and repurchase agreements (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Disclosure [Abstract] | ||
Maximum aggregate balance outstanding at any month-end | $ 162,450 | $ 92,101 |
Average montly aggregate balance outstanding | $ 107,305 | $ 91,394 |
Weighted average interest rate for the year | 2.15% | 0.35% |
Weighted average interest rate at December 31 | 4.23% | 0.26% |
Borrowings - Other short-term b
Borrowings - Other short-term borrowings - (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Short-term Debt [Line Items] | ||
Maximum aggregate balance outstanding at any month-end | $ 375,000 | $ 75,000 |
Average monthly aggregate balance outstanding | $ 99,083 | $ 343 |
Weighted average interest rate for the year | 3.46% | 0.35% |
Weighted average interest rate at December 31 | 4.47% | 0.35% |
Borrowings - Notes payable (Det
Borrowings - Notes payable (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Notes payable | $ 886,710 | $ 988,563 |
Advances with FHLB with maturities ranging from 2023 Through 2029 | ||
Debt Instrument [Line Items] | ||
FHLB advances | 389,282 | 492,429 |
Unsecured senior debt | Fixed Rate with maturities on 2023 paying interest semiannually | ||
Debt Instrument [Line Items] | ||
Notes payable | 299,109 | 297,842 |
Junior subordinated debt | Fixed Rate with maturities on 2034 | ||
Debt Instrument [Line Items] | ||
Notes payable | $ 198,319 | $ 198,292 |
Borrowings - Notes payable -Par
Borrowings - Notes payable -Parenthetical (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Advances with FHLB with maturities ranging from 2023 Through 2029 | ||
Debt Instrument [Line Items] | ||
Notes Payable Maturity Year Range Start | 2023 | |
Notes Payable Maturity Year | 2029 | |
Advances with FHLB with maturities ranging from 2023 Through 2029 | Minimum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 0.39% | 0.39% |
Advances with FHLB with maturities ranging from 2023 Through 2029 | Maximum | ||
Debt Instrument [Line Items] | ||
Advances with the FHLB, interest rate | 3.18% | 3.18% |
Unsecured senior debt | Fixed Rate with maturities on 2023 paying interest semiannually | ||
Debt Instrument [Line Items] | ||
Fixed interest rate percentage | 6.125% | |
Debt instrument maturity year | 2023 | |
Debt issuance costs | $ 891 | $ 2,158 |
Debt Instrument Frequency Of Periodic Payment | semiannually | |
Junior subordinated debt | Fixed Rate with maturities on 2034 | ||
Debt Instrument [Line Items] | ||
Notes Payable Maturity Year | 2034 | |
Debt issuance costs | $ 315 | $ 342 |
Junior subordinated debt | Fixed Rate with maturities on 2034 | Minimum | ||
Debt Instrument [Line Items] | ||
Fixed interest rate percentage | 6.125% | 6.125% |
Junior subordinated debt | Fixed Rate with maturities on 2034 | Maximum | ||
Debt Instrument [Line Items] | ||
Fixed interest rate percentage | 6.564% | 6.564% |
Borrowings - Borrowings by cont
Borrowings - Borrowings by contractual maturities (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Debt Instrument [Line Items] | |
2023 | $ 855,979 |
2024 | 91,944 |
2025 | 139,920 |
2026 | 74,500 |
Later years | 237,976 |
Total borrowings | 1,400,319 |
Assets sold under agreements to repurchase | |
Debt Instrument [Line Items] | |
2023 | 148,609 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
Later years | 0 |
Total borrowings | 148,609 |
Short term borrowings | |
Debt Instrument [Line Items] | |
2023 | 365,000 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
Later years | 0 |
Total borrowings | 365,000 |
Notes payable | |
Debt Instrument [Line Items] | |
2023 | 342,370 |
2024 | 91,944 |
2025 | 139,920 |
2026 | 74,500 |
Later years | 237,976 |
Total borrowings | $ 886,710 |
Borrowings - Additional Informa
Borrowings - Additional Information (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Nov. 01, 2021 |
Debt Instrument [Line Items] | |||
FHLB advances maximum amount available | $ 3,300,000 | $ 3,000,000 | |
Federal Home Loan Bank Advances And Letters Of Credit Amount Used | 800,000 | 600,000 | |
Assets sold under agreements to repurchase | 148,609 | 91,603 | |
Other short-term borrowings | 365,000 | 75,000 | |
Popular Capital Trust I | Trust preferred securities redemption | 6.70% Cumulative Monthly Income Trust Preferred Securities | |||
Debt Instrument [Line Items] | |||
Capital securities | $ 181,000 | ||
Common securities | 6,000 | ||
Cumulative monthly income trust preferred securities outstanding | $ 187,000 | ||
Advances with FRB | |||
Debt Instrument [Line Items] | |||
Line Of Credit Facility Current Borrowing Capacity | 1,400,000 | 1,300,000 | |
Federal Home Loan Bank | |||
Debt Instrument [Line Items] | |||
Line Of Credit Facility Capacity Available For Specific Purpose Other Than For Trade Purchases | 400,000 | 1,200,000 | |
Other short-term borrowings | $ 365,000 | $ 75,000 |
Trust preferred securities - Fi
Trust preferred securities - Financial data pertaining to different trust (Details) - Trust preferred securities redemption $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Popular North America Capital Trust I | |
Debt Instrument [Line Items] | |
Capital securities | $ 91,651 |
Distribution rate | 6.564% |
Common securities | $ 2,835 |
Junior subordinated debentures aggregate liquidation amount | $ 94,486 |
Stated maturity date | September 2034 |
Popular Capital Trust II | |
Debt Instrument [Line Items] | |
Capital securities | $ 101,023 |
Distribution rate | 6.125% |
Common securities | $ 3,125 |
Junior subordinated debentures aggregate liquidation amount | $ 104,148 |
Stated maturity date | December 2034 |
Trust preferred securities - Tr
Trust preferred securities - Trust preferred securities - Additional Information (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Nov. 01, 2021 |
Debt Instrument [Line Items] | |||
Trust Preferred Securities Subject To Phase Out Provision Of Dodd Frank Act | $ 193 | $ 193 | |
Popular Capital Trust I | Trust preferred securities redemption | 6.70% Cumulative Monthly Income Trust Preferred Securities | |||
Debt Instrument [Line Items] | |||
Cumulative monthly income trust preferred securities outstanding | $ 187 | ||
Capital securities | 181 | ||
Common securities | $ 6 |
Other Liabilities (Details)
Other Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Other Liabilities Disclosure [Abstract] | |||
Accrued expenses | $ 337,284 | $ 308,594 | |
Accrued interest payable | 39,288 | 33,227 | |
Accounts payable | 76,456 | 91,804 | |
Dividends payable | 39,525 | 35,937 | $ 33,700 |
Trades payable | 9,461 | 13,789 | |
Liability for GNMA loans sold with an option to repurchase | 14,271 | 12,806 | |
Reserves for loan indemnifications | 7,520 | 12,639 | |
Reserve for operational losses | 39,266 | 43,886 | |
Operating lease liabilities | 137,290 | 154,114 | |
Finance lease liabilities | 24,737 | 19,719 | |
Pension benefit obligation | 8,290 | 8,778 | |
Postretirement benefit obligation | 118,336 | 161,988 | |
Other liabilities | 65,222 | 70,967 | |
Total other liabilities | $ 916,946 | $ 968,248 | |
Operating Lease Liability Statement Of Financial Position | Other liabilities | Other liabilities | |
Finance Lease Liability Statement Of Financial Position | Other liabilities | Other liabilities |
Stockholders' equity - Preferre
Stockholders' equity - Preferred stock - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | 2 Months Ended | 12 Months Ended | |||
Feb. 24, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stockholders Equity Note [Line Items] | |||||
Preferred stock shares authorized | 30,000,000 | 30,000,000 | |||
Preferred stock shares outstanding | 885,726 | 885,726 | 885,726 | 2,006,391 | |
Preferred Stock | 2003 Series A Preferred Stock | |||||
Stockholders Equity Note [Line Items] | |||||
Preferred Stock Redemption Price Per Share | $ 25 | ||||
Preferred stock liquidation preference | 25 | ||||
Preferred stock dividends per share cash paid | $ 0.1328125 | ||||
Preferred stock dividend rate percentage | 6.375% | ||||
Dividend preferred stock cash paid | $ 1.4 | $ 1.4 | $ 1.4 | ||
Preferred Stock | 2008 Series B Preferred Stock | |||||
Stockholders Equity Note [Line Items] | |||||
Preferred Stock Redemption Price Per Share | $ 25 | ||||
Accrued and unpaid dividends on each share | 0.1375 | ||||
Dividends perferred stock per share | $ 25.1375 |
Stockholders' equity - Common s
Stockholders' equity - Common stock - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 2 Months Ended | 3 Months Ended | 12 Months Ended | ||
Feb. 28, 2023 | Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Stockholders Equity Note [Line Items] | |||||
Cash dividends | $ 163,693 | $ 142,290 | $ 136,561 | ||
Common stock dividends per share cash paid | $ 2.20 | $ 1.75 | $ 1.60 | ||
Dividends Declared per Common Share | $ 0.55 | ||||
Dividend payable, to be paid date | Jan. 03, 2023 | ||||
Dividends payable, record date | Dec. 07, 2022 | ||||
Dividends payable | $ 39,525 | $ 39,525 | $ 35,937 | $ 33,700 | |
Subsequent event | |||||
Stockholders Equity Note [Line Items] | |||||
Dividends Declared per Common Share | $ 0.55 | ||||
Dividend payable, to be paid date | Apr. 03, 2023 | ||||
Dividends payable, record date | Mar. 20, 2023 |
Stockholders' equity - ASR - Ad
Stockholders' equity - ASR - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Dec. 07, 2022 | Sep. 09, 2021 | May 03, 2021 | Aug. 24, 2022 | May 27, 2020 | Jan. 30, 2020 | Mar. 02, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Mar. 31, 2022 | Jul. 12, 2022 | Dec. 31, 2022 | Feb. 28, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accelerate share repurchase | |||||||||||||||
Stockholders Equity Note [Line Items] | |||||||||||||||
Stock repurchased (Shares) | 4,614,796 | 5,066,864 | |||||||||||||
Stock repurchase program authorized amount | $ 350 | $ 500 | $ 400 | ||||||||||||
Accelerated share repurchases price paid per share | $ 75.8430 | $ 78.94 | $ 78.9443 | ||||||||||||
Accelerated share repurchases settlement payment | $ (631) | $ (400) | $ (631) | $ (350) | $ (500) | ||||||||||
Initial shares received as part of an accelerated share repurchase program | 3,785,831 | 7,055,919 | 3,483,942 | 3,483,942 | |||||||||||
Additional common shares repurchased | 828,965 | 1,582,922 | 1,582,922 | ||||||||||||
Accelerate share repurchase | Treasury stock | |||||||||||||||
Stockholders Equity Note [Line Items] | |||||||||||||||
Accelerated share repurchase adjustments | $ 61 | $ 280 | $ 400 | $ 320 | $ 120 | ||||||||||
Accelerate share repurchase | Capital surplus | |||||||||||||||
Stockholders Equity Note [Line Items] | |||||||||||||||
Accelerated share repurchase adjustments | $ 61 | $ (70) | $ (100) | $ (80) | $ 120 | ||||||||||
Accelerate share repurchase | COVID 19 | |||||||||||||||
Stockholders Equity Note [Line Items] | |||||||||||||||
Stock repurchased (Shares) | 11,819,135 | ||||||||||||||
Accelerated share repurchases price paid per share | $ 42.3043 | ||||||||||||||
Additional common shares repurchased | 4,763,216 | ||||||||||||||
August ASR | |||||||||||||||
Stockholders Equity Note [Line Items] | |||||||||||||||
Stock repurchased (Shares) | 3,179,265 | ||||||||||||||
Stock repurchase program authorized amount | $ 231 | ||||||||||||||
Accelerated share repurchases price paid per share | $ 72.6583 | $ 72.66 | |||||||||||||
Accelerated share repurchases settlement payment | $ (231) | $ (231) | |||||||||||||
Initial shares received as part of an accelerated share repurchase program | 2,339,241 | 2,339,241 | |||||||||||||
Additional common shares repurchased | 840,024 | 840,024 | |||||||||||||
August ASR | Treasury stock | |||||||||||||||
Stockholders Equity Note [Line Items] | |||||||||||||||
Accelerated share repurchase adjustments | $ 60 | $ 185 | |||||||||||||
August ASR | Capital surplus | |||||||||||||||
Stockholders Equity Note [Line Items] | |||||||||||||||
Accelerated share repurchase adjustments | $ 60 | $ (46) |
Stockholders' equity - Statutor
Stockholders' equity - Statutory reserve - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Stockholders Equity Note [Line Items] | |||
Puerto Rico Laws Restrictions on Banks Net Income | a minimum of 10% of BPPR’s net income | ||
Statutory reserve balance | $ 863,000 | $ 786,000 | $ 708,000 |
Transfer to statutory reserve | 0 | 0 | 0 |
Capital surplus | |||
Stockholders Equity Note [Line Items] | |||
Transfer to statutory reserve | $ 76,933 | $ 78,370 | $ 49,448 |
Regulatory capital requiremen_3
Regulatory capital requirements - Corporation's risk-based capital and leverage ratios (Details) $ in Thousands | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Capital Adequacy Minimum Requirement Plus Capital Conservation Buffer/Basel III | ||
Regulatory Capital Requirements under Banking Regulations | ||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 0.04 | |
Corporate | ||
Regulatory Capital Requirements under Banking Regulations | ||
Capital | $ 6,285,648 | $ 6,084,105 |
Capital to Risk Weighted Assets | 0.1826 | 0.1935 |
Common Equity Tier One Capital | $ 5,639,686 | $ 5,476,031 |
Common Equity Tier One Capital Ratio | 0.1639 | 0.1742 |
Tier One Risk Based Capital | $ 5,661,829 | $ 5,498,174 |
Tier One Risk Based Capital to Risk Weighted Assets | 0.1645 | 0.1749 |
Tier One Leverage Capital | $ 5,661,829 | $ 5,498,174 |
Tier One Leverage Capital to Average Assets | 0.0806 | 0.0741 |
Corporate | Capital Adequacy Minimum Requirement Plus Capital Conservation Buffer/Basel III | ||
Regulatory Capital Requirements under Banking Regulations | ||
Capital Required for Capital Adequacy | $ 3,613,668 | $ 3,301,329 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 0.10500 | 0.10500 |
Common Equity Tier One Capital Required For Capital Adequacy | $ 2,409,112 | $ 2,200,886 |
Common Equity Tier 1 Based Capital Minimum Requirement Ratio | 0.07000 | 0.07000 |
Tier One Risk Based Capital Required for Capital Adequacy | $ 2,925,351 | $ 2,672,504 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 0.08500 | 0.08500 |
Tier One Leverage Capital Required for Capital Adequacy | $ 2,811,504 | $ 2,969,535 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 0.04 | 0.04 |
BPPR | ||
Regulatory Capital Requirements under Banking Regulations | ||
Capital | $ 4,541,915 | $ 4,281,930 |
Capital to Risk Weighted Assets | 0.1834 | 0.1892 |
Common Equity Tier One Capital | $ 4,230,820 | $ 3,998,102 |
Common Equity Tier One Capital Ratio | 0.1709 | 0.1767 |
Tier One Risk Based Capital | $ 4,230,820 | $ 3,998,102 |
Tier One Risk Based Capital to Risk Weighted Assets | 0.1709 | 0.1767 |
Tier One Leverage Capital | $ 4,230,820 | $ 3,998,102 |
Tier One Leverage Capital to Average Assets | 0.0710 | 0.0624 |
BPPR | Capital Adequacy Minimum Requirement Plus Capital Conservation Buffer/Basel III | ||
Regulatory Capital Requirements under Banking Regulations | ||
Capital Required for Capital Adequacy | $ 2,599,872 | $ 2,376,184 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 0.10500 | 0.10500 |
Common Equity Tier One Capital Required For Capital Adequacy | $ 1,733,248 | $ 1,584,123 |
Common Equity Tier 1 Based Capital Minimum Requirement Ratio | 0.07000 | 0.07000 |
Tier One Risk Based Capital Required for Capital Adequacy | $ 2,104,658 | $ 1,923,577 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 0.08500 | 0.08500 |
Tier One Leverage Capital Required for Capital Adequacy | $ 2,383,478 | $ 2,561,003 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 0.04 | 0.04 |
PB | ||
Regulatory Capital Requirements under Banking Regulations | ||
Capital | $ 1,463,511 | $ 1,361,911 |
Capital to Risk Weighted Assets | 0.1559 | 0.1678 |
Common Equity Tier One Capital | $ 1,395,272 | $ 1,309,398 |
Common Equity Tier One Capital Ratio | 0.1487 | 0.1614 |
Tier One Risk Based Capital | $ 1,395,272 | $ 1,309,398 |
Tier One Risk Based Capital to Risk Weighted Assets | 0.1487 | 0.1614 |
Tier One Leverage Capital | $ 1,395,272 | $ 1,309,398 |
Tier One Leverage Capital to Average Assets | 0.1308 | 0.1344 |
PB | Capital Adequacy Minimum Requirement Plus Capital Conservation Buffer/Basel III | ||
Regulatory Capital Requirements under Banking Regulations | ||
Capital Required for Capital Adequacy | $ 985,510 | $ 852,032 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 0.10500 | 0.10500 |
Common Equity Tier One Capital Required For Capital Adequacy | $ 657,007 | $ 568,021 |
Common Equity Tier 1 Based Capital Minimum Requirement Ratio | 0.07000 | 0.07000 |
Tier One Risk Based Capital Required for Capital Adequacy | $ 797,794 | $ 689,740 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 0.08500 | 0.08500 |
Tier One Leverage Capital Required for Capital Adequacy | $ 426,832 | $ 389,736 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 0.04 | 0.04 |
Regulatory capital requiremen_4
Regulatory capital requirements - Corporation's risk-based capital and leverage ratios - subnote (Details) - Capital Adequacy Minimum Requirement Plus Capital Conservation Buffer/Basel III | Dec. 31, 2022 |
Regulatory Capital Requirements under Banking Regulations | |
Capital conservation buffer | 0.025 |
Leverage ratio for capital adequacy ratio | 0.04 |
Regulatory capital requiremen_5
Regulatory capital requirements - Minimum amounts and ratios to be categorized as well-capitalized (Details) - Basel III $ in Thousands | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) |
BPPR | ||
Regulatory Capital Requirements under Banking Regulations | ||
Capital Required to be Well Capitalized | $ 2,476,068 | $ 2,263,032 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 0.10 | 0.10 |
Common Equity Tier 1 Based Capital Amount To Be Well Capitalized | $ 1,609,444 | $ 1,470,971 |
Common Equity Tier 1 Based Capital Ratio To Be Well Capitalized | 0.065 | 0.065 |
Tier One Risk Based Capital Required to be Well Capitalized | $ 1,980,855 | $ 1,810,426 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 0.08 | 0.08 |
Tier One Leverage Capital Required to be Well Capitalized | $ 2,979,348 | $ 3,201,254 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 0.05 | 0.05 |
PB | ||
Regulatory Capital Requirements under Banking Regulations | ||
Capital Required to be Well Capitalized | $ 938,581 | $ 811,459 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 0.10 | 0.10 |
Common Equity Tier 1 Based Capital Amount To Be Well Capitalized | $ 610,078 | $ 527,448 |
Common Equity Tier 1 Based Capital Ratio To Be Well Capitalized | 0.065 | 0.065 |
Tier One Risk Based Capital Required to be Well Capitalized | $ 750,865 | $ 649,167 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 0.08 | 0.08 |
Tier One Leverage Capital Required to be Well Capitalized | $ 533,540 | $ 487,171 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 0.05 | 0.05 |
Regulatory capital requiremen_6
Regulatory capital requirements - Additional Information (Details) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Regulatory Capital Requirements under Banking Regulations | ||
Notes Receivable Gross | $ 32,077,769,000 | $ 29,240,557,000 |
Loans held-in-portfolio | 32,372,925,000 | 29,506,225,000 |
Asset pledged as collateral | ||
Regulatory Capital Requirements under Banking Regulations | ||
Notes Receivable Gross | 7,400,000,000 | 6,600,000,000 |
PPP | ||
Regulatory Capital Requirements under Banking Regulations | ||
Loans held-in-portfolio | 38,000,000 | $ 353,000,000 |
PPPL | Asset pledged as collateral | ||
Regulatory Capital Requirements under Banking Regulations | ||
Notes Receivable Gross | $ 0 | |
Standardized approach | Basel III | ||
Regulatory Capital Requirements under Banking Regulations | ||
CET 1 minimum ratio required ratio | 0.065 | |
Tier one risk based capital required for capital adequacy ratio | 0.08 | |
Capital required for capital adequacy ratio | 0.10 | |
Leverage ratio required | 0.05 |
Other comprehensive income (los
Other comprehensive income (loss) - Change in accumulated other comprehensive income (loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Foreign Currency Translation | ||||
Beginning Balance | $ (67,307) | $ (71,254) | $ (56,783) | |
Other comprehensive income | 10,572 | 3,947 | (14,471) | |
Net change | 10,572 | 3,947 | (14,471) | |
Ending Balance | (56,735) | (67,307) | (71,254) | |
Adjustment of pension and postretirement benefit plans | ||||
Beginning Balance | (158,994) | (195,056) | (202,816) | |
Other comprehensive income (loss) before reclassification | 4,882 | 23,094 | (5,645) | |
Amounts reclassified from accumulated other comprehensive loss for amortization of net losses | 9,777 | 12,968 | 13,405 | |
Net change | 14,659 | 36,062 | 7,760 | |
Ending Balance | (144,335) | (158,994) | (195,056) | |
Unrealized net holding (losses) gains on debt securities | ||||
Beginning Balance | (96,120) | 460,900 | 92,155 | |
Other comprehensive (loss) income | (2,261,097) | (557,002) | 368,780 | |
Amounts reclassified from accumulated other comprehensive (loss) income for gains on securities | 0 | (18) | (35) | |
Amounts reclassified from accumulated other comprehensive (loss) income for amortization of net unrealized losses of debt securities transferred from available-for-sale to held-to-maturity | 33,314 | 0 | 0 | |
Net change | (2,227,783) | (557,020) | 368,745 | |
Ending Balance | (2,323,903) | (96,120) | 460,900 | |
Unrealized net gains (losses) on cash flow hedges | ||||
Beginning Balance | (2,648) | (4,599) | (2,494) | |
Other comprehensive income (loss) before reclassifications | 3,107 | 367 | (6,400) | |
Amounts reclassified from accumulated other comprehensive income (loss) | (414) | 1,584 | 4,295 | |
Net change | 2,693 | 1,951 | (2,105) | |
Ending Balance | 45 | (2,648) | (4,599) | |
Accumulated other comprehensive loss, net of tax | $ (2,524,928) | $ (325,069) | $ 189,991 | $ 189,991 |
Other comprehensive income (l_2
Other comprehensive income (loss) - Reclassification out of accumulated other comprehensive income (Details) - Reclassification out of accumulated other comprehensive income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Net of tax | $ (42,677) | $ (14,534) | $ (17,665) |
Pension and postretirement benefit plan | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Before Tax | (15,644) | (20,749) | (21,447) |
Income tax benefit | 5,867 | 7,781 | 8,042 |
Net of tax | (9,777) | (12,968) | (13,405) |
Pension and postretirement benefit plan | Other operating expenses | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Before Tax | (15,644) | (20,749) | (21,447) |
Gains (losses) on debt securities | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Before Tax | (41,642) | 23 | 41 |
Income tax benefit | 8,328 | (5) | (6) |
Net of tax | (33,314) | 18 | 35 |
Gains (losses) on debt securities | Investment securities | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Before Tax | (41,642) | 0 | 0 |
Gains (losses) on debt securities | Net gain (loss) on sale of debt securities | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Before Tax | 0 | 23 | 41 |
Cash flow hedge | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Before Tax | 960 | (1,847) | (6,379) |
Income tax benefit | (546) | 263 | 2,084 |
Net of tax | 414 | (1,584) | (4,295) |
Cash flow hedge | Forward contracts | Mortgage banking activities | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Before Tax | 1,458 | (704) | (5,559) |
Cash flow hedge | Interest rate swap | Other operating expenses | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Before Tax | $ (498) | $ (1,143) | $ (820) |
Other comprehensive income (l_3
Other comprehensive income (loss) - Reclassification out of accumulated other comprehensive income - Parenthetical (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Oct. 15, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Available-for-sale securities transfer to Held-to-maturity | $ 6,531,092 | $ 0 | $ 0 | |
US Treasury Securities | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Available-for-sale securities transfer to Held-to-maturity | $ 6,500,000 | |||
Available-for-sale securities transfer to Held-to-Maturity at par value | $ 7,400,000 |
Guarantees - Changes from credi
Guarantees - Changes from credit recourses agreements (Details) - Guarantee on loans sold or serviced with credit recourse - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Guarantor Obligations [Line Items] | ||
Balance as of beginning of period | $ 11,800 | $ 22,484 |
Provision (benefit) for recourse liability | (1,715) | (2,948) |
Net charge-offs | (3,188) | (7,736) |
Balance as of end of period | $ 6,897 | $ 11,800 |
Guarantees - Credit recourse -
Guarantees - Credit recourse - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Guarantee on loans sold or serviced with credit recourse | |||
Guarantor Obligations [Line Items] | |||
Valuation allowances and reserves balance | $ 6,897,000 | $ 11,800,000 | $ 22,484,000 |
Serviced mortgage loans | |||
Guarantor Obligations [Line Items] | |||
Loans serviced | 11,100,000,000 | 12,100,000,000 | |
Loans with recourse | |||
Guarantor Obligations [Line Items] | |||
Loans serviced | 600,000,000 | 700,000,000 | |
Loans with recourse | Serviced mortgage loans | |||
Guarantor Obligations [Line Items] | |||
Repurchased loans | 7,000,000 | 19,000,000 | |
Securitization | Guarantee on loans sold or serviced with representation and warranties | |||
Guarantor Obligations [Line Items] | |||
Repurchased loans | $ 1,000,000 | $ 0 |
Guarantees - Other Guarantees -
Guarantees - Other Guarantees - Additional Information (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Guarantor Obligations [Line Items] | ||
Funds Advanced To Investors Under Servicing Agreements | $ 41,916 | $ 53,942 |
Popular, Inc. Holding Co. | ||
Guarantor Obligations [Line Items] | ||
Wholly-owned subsidiary percentage | 100% | 100% |
Popular, Inc. Holding Co. | Debt Securities Payable | ||
Guarantor Obligations [Line Items] | ||
Guarantees, unamortized balance of the obligations | $ 94,000 | $ 94,000 |
Financial Standby Letter Of Credit | ||
Guarantor Obligations [Line Items] | ||
Guarantees, unamortized balance of the obligations | 300 | 200 |
Guarantee Type, Other | Popular, Inc. Holding Co. | Capital securities (trust preferred securities) | ||
Guarantor Obligations [Line Items] | ||
Guarantees, unamortized balance of the obligations | 193,000 | 193,000 |
Indemnification Guarantee | Banco Popular de Puerto Rico | ||
Guarantor Obligations [Line Items] | ||
Liability for estimated credit loss related to loans sold or serviced | $ 600 | $ 800 |
Commitments and Contingencies -
Commitments and Contingencies - Financial instruments with off-Balance Sheet credit risk (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Commitments to extend credit | Credit card lines | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused commitments to extend credit | $ 5,853,990 | $ 5,382,089 |
Commitments to extend credit | Commercial and construction lines of credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused commitments to extend credit | 4,425,825 | 3,830,601 |
Commitments to extend credit | Other consumer unused credit commitments | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused commitments to extend credit | 250,271 | 250,229 |
Commercial letters of credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused commitments to extend credit | 3,351 | 3,260 |
Standby letters of credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused commitments to extend credit | 27,868 | 27,848 |
Commitments to originate or fund mortgage loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Unused commitments to extend credit | $ 45,170 | $ 95,372 |
Commitments and Contingencies_2
Commitments and Contingencies - Schedule of Direct Exposure to Puerto Rico Government by Maturity (Details) - PR Government direct exposure - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | $ 326,987 | $ 349,000 |
Total concentration of risk | 374,176 | 367,000 |
Investment Portfolio | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 24,702 | 30,000 |
Loans | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 302,285 | $ 319,000 |
From PR Central Government | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 42 | |
Total concentration of risk | 42 | |
From PR Central Government | Investment Portfolio | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 42 | |
From PR Central Government | Loans | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
From PR Central Government | After 1 to 5 years | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 12 | |
Total concentration of risk | 12 | |
From PR Central Government | After 1 to 5 years | Investment Portfolio | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 12 | |
From PR Central Government | After 1 to 5 years | Loans | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
From PR Central Government | After 5 to 10 years | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 1 | |
Total concentration of risk | 1 | |
From PR Central Government | After 5 to 10 years | Investment Portfolio | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 1 | |
From PR Central Government | After 5 to 10 years | Loans | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
From PR Central Government | After 10 years | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 29 | |
Total concentration of risk | 29 | |
From PR Central Government | After 10 years | Investment Portfolio | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 29 | |
From PR Central Government | After 10 years | Loans | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
From Municipalities | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 326,945 | |
Total concentration of risk | 374,134 | |
From Municipalities | Investment Portfolio | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 24,660 | |
From Municipalities | Loans | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 302,285 | |
From Municipalities | Within 1 year | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 24,773 | |
Total concentration of risk | 42,962 | |
From Municipalities | Within 1 year | Investment Portfolio | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 4,530 | |
From Municipalities | Within 1 year | Loans | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 20,243 | |
From Municipalities | After 1 to 5 years | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 120,114 | |
Total concentration of risk | 149,114 | |
From Municipalities | After 1 to 5 years | Investment Portfolio | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 19,105 | |
From Municipalities | After 1 to 5 years | Loans | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 101,009 | |
From Municipalities | After 5 to 10 years | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 132,227 | |
Total concentration of risk | 132,227 | |
From Municipalities | After 5 to 10 years | Investment Portfolio | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 1,025 | |
From Municipalities | After 5 to 10 years | Loans | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 131,202 | |
From Municipalities | After 10 years | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 49,831 | |
Total concentration of risk | 49,831 | |
From Municipalities | After 10 years | Investment Portfolio | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | 0 | |
From Municipalities | After 10 years | Loans | ||
Direct Exposure To The Puerto Rico Government By Maturity [Line Items] | ||
Outstanding concentration of risk | $ 49,831 |
Commitments and contingencies_3
Commitments and contingencies - Commitments - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Line Items] | ||
Loans And Leases Receivable Gross Carrying Amount | $ 32,372,925 | $ 29,506,225 |
Commitments to extend credit | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Reserve of potential losses associated with unfunded loan commitments | 8,800 | 7,900 |
Noncredit commitment | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Investments | 4,800 | 1,000 |
Residential mortgage loans | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Loans And Leases Receivable Gross Carrying Amount | 1,600,000 | 1,600,000 |
Paycheck Protection Program | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Loans And Leases Receivable Gross Carrying Amount | 38,000 | 353,000 |
BVI | Retail and commerical loans | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Loans And Leases Receivable Gross Carrying Amount | 214,000 | 221,000 |
Insured or guaranteed by the U.S. Government or its agencies | Commercial Loans | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Loans And Leases Receivable Gross Carrying Amount | 72,000 | 67,000 |
PR Government direct exposure | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Outstanding concentration of risk | 326,987 | 349,000 |
Total concentration of risk | $ 374,176 | 367,000 |
Exposure Municipal Loans And Securities | 73% | |
PR Government direct exposure | Loans | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Outstanding concentration of risk | $ 302,285 | 319,000 |
PR Government direct exposure | Securities Investment | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Outstanding concentration of risk | 24,702 | 30,000 |
PR Government Indirect Exposure | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Outstanding concentration of risk | 251,000 | 275,000 |
Loans and Leases Receivable, Consumer, Mortgage with PRHA | 209,000 | 232,000 |
PR Government Indirect Exposure | PR Housing Bonds backed by second mortgage loans | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Outstanding concentration of risk | 42,000 | 43,000 |
USVI Government Direct Exposure | From USVI Government And Public Corporations | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Total concentration of risk | $ 28,000 | $ 70,000 |
Commitments and contingencies_4
Commitments and contingencies - Legal Proceedings - Additional Information (Details) $ in Millions | 1 Months Ended | 12 Months Ended | |||
Oct. 28, 2021 USD ($) | Jun. 28, 2021 Defendant | Jul. 30, 2019 Defendant Plaintiff | Dec. 31, 2022 USD ($) claims | Jan. 27, 2022 USD ($) | |
Hazard Insurance Commision Related Litigation | |||||
Legal Matters And Contingencies [Line Items] | |||||
Loss Contingency Damages Sought Value | $ 400 | ||||
PB | Aileen Betances, et al. v. Popular Bank, et al | |||||
Legal Matters And Contingencies [Line Items] | |||||
Number of plaintiffs | Plaintiff | 5 | ||||
Loss Contingency Number Of Defendants | Defendant | 3 | 5 | |||
PB | Damian Reyes, et al. v. Popular Bank, et al | |||||
Legal Matters And Contingencies [Line Items] | |||||
Number of plaintiffs | Plaintiff | 3 | ||||
Loss Contingency Number Of Defendants | Defendant | 6 | ||||
Aggregate Arbitrations with Claimed Damages | Popular Securities | |||||
Legal Matters And Contingencies [Line Items] | |||||
Loss Contingency Pending Claims Number | claims | 13 | ||||
Loss Contingency Damages Sought Value | $ 13.4 | ||||
One arbitration with Claimed damages | Popular Securities | Trinidad Garcia v. Popular Inc et. al. | |||||
Legal Matters And Contingencies [Line Items] | |||||
Loss Contingency Damages Sought Value | $ 30 | ||||
Litigation settlement amount awarded | $ 6.9 | ||||
Damages sought amended | $ 390 | ||||
Minimum | |||||
Legal Matters And Contingencies [Line Items] | |||||
Loss Contingency Range Of Possible Loss Portion Not Accrued | 0 | ||||
Minimum | PB | PB Employment Related Litigation | |||||
Legal Matters And Contingencies [Line Items] | |||||
Loss Contingency Damages Sought Value | 100 | ||||
Maximum | |||||
Legal Matters And Contingencies [Line Items] | |||||
Loss Contingency Range Of Possible Loss Portion Not Accrued | $ 20.6 |
Non-consolidated VIEs - Corpora
Non-consolidated VIEs - Corporation's VI in non-consolidated VIEs and max exposure to loss (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Variable Interest Entity [Line Items] | |||
Assets | $ 67,637,917 | $ 75,097,899 | $ 65,926,000 |
Variable Interest Entity Not Primary Beneficiary | |||
Variable Interest Entity [Line Items] | |||
Assets | 105,771 | 102,432 | |
Maximum exposure to loss | 105,771 | 102,432 | |
Variable Interest Entity Not Primary Beneficiary | Servicing assets | |||
Variable Interest Entity [Line Items] | |||
Assets | 99,614 | 94,464 | |
Variable Interest Entity Not Primary Beneficiary | Mortgage servicing rights | |||
Variable Interest Entity [Line Items] | |||
Assets | 99,614 | 94,464 | |
Variable Interest Entity Not Primary Beneficiary | Other assets | |||
Variable Interest Entity [Line Items] | |||
Assets | 6,157 | 7,968 | |
Variable Interest Entity Not Primary Beneficiary | Servicing advances | |||
Variable Interest Entity [Line Items] | |||
Assets | $ 6,157 | $ 7,968 |
Non-consolidated variable int_3
Non-consolidated variable interest entities - Additional Information (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Variable Interest Entity [Line Items] | ||
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement | $ 114 | $ 144 |
Variable Interest Entity Not Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement | $ 7,700 | $ 8,300 |
Derivative instruments and he_4
Derivative instruments and hedging activities - Cash flow hedges and non-hedging derivatives outstanding (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Notional Amount Of Derivatives | ||
Derivative, Notional Amount | $ 329,486 | $ 267,232 |
Derivative Asset Fair Value Net | ||
Deivatives assets | 19,229 | 26,093 |
Derivative Liability Fair Value Net | ||
Derivatives liabilities | 17,000 | 22,878 |
Designated As Hedging Instrument Member | ||
Notional Amount Of Derivatives | ||
Derivative, Notional Amount | 15,100 | 87,900 |
Derivative Asset Fair Value Net | ||
Deivatives assets | 93 | 18 |
Derivative Liability Fair Value Net | ||
Derivatives liabilities | 22 | 125 |
Non designated as hedging instrument | ||
Notional Amount Of Derivatives | ||
Derivative, Notional Amount | 314,386 | 179,332 |
Derivative Asset Fair Value Net | ||
Deivatives assets | 19,136 | 26,075 |
Derivative Liability Fair Value Net | ||
Derivatives liabilities | 16,978 | 22,753 |
Forward contracts | Designated As Hedging Instrument Member | ||
Notional Amount Of Derivatives | ||
Derivative, Notional Amount | 15,100 | 87,900 |
Forward contracts | Designated As Hedging Instrument Member | Other assets | ||
Derivative Asset Fair Value Net | ||
Deivatives assets | $ 93 | $ 18 |
Derivative assets statement of financial position | Other assets | Other assets |
Forward contracts | Designated As Hedging Instrument Member | Other liabilities | ||
Derivative Liability Fair Value Net | ||
Derivatives liabilities | $ 22 | $ 125 |
Derivative liability statement of financial position | Other liabilities (includes $2,764 due to subsidiaries and affiliate (2021 - $6,591)) | Other liabilities (includes $2,764 due to subsidiaries and affiliate (2021 - $6,591)) |
Interest rate cap | Non designated as hedging instrument | ||
Notional Amount Of Derivatives | ||
Derivative, Notional Amount | $ 150,000 | $ 27,866 |
Interest rate cap | Non designated as hedging instrument | Other assets | ||
Derivative Asset Fair Value Net | ||
Deivatives assets | 1,045 | 0 |
Interest rate cap | Non designated as hedging instrument | Other liabilities | ||
Derivative Liability Fair Value Net | ||
Derivatives liabilities | 1,045 | 0 |
Indexed options on deposits | Non designated as hedging instrument | ||
Notional Amount Of Derivatives | ||
Derivative, Notional Amount | 85,414 | 79,114 |
Indexed options on deposits | Non designated as hedging instrument | Other assets | ||
Derivative Asset Fair Value Net | ||
Deivatives assets | 18,091 | 26,075 |
Bifurcated embedded options | Non designated as hedging instrument | ||
Notional Amount Of Derivatives | ||
Derivative, Notional Amount | 78,972 | 72,352 |
Bifurcated embedded options | Non designated as hedging instrument | Interest-bearing deposits | ||
Derivative Liability Fair Value Net | ||
Derivatives liabilities | $ 15,933 | $ 22,753 |
Derivative instruments and he_5
Derivative instruments and hedging activities (Cash flow hedges) (Detail) - Cash flow hedging - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of net gain (loss) recognized in OCI on derivatives (effective portion) | $ 1,636 | $ 456 | $ (6,594) |
Amount of net gain (loss) reclassified from AOCI into income (effective portion) | 1,458 | (704) | (5,559) |
Amount of net gain (loss) recognized in income on derivatives (ineffective portion) | 0 | 0 | 0 |
Forward contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of net gain (loss) recognized in OCI on derivatives (effective portion) | $ 1,636 | $ 456 | $ (6,594) |
Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) | Mortgage banking activities | Mortgage banking activities | Mortgage banking activities |
Amount of net gain (loss) reclassified from AOCI into income (effective portion) | $ 1,458 | $ (704) | $ (5,559) |
Amount of net gain (loss) recognized in income on derivatives (ineffective portion) | $ 0 | $ 0 | $ 0 |
Derivative instruments and he_6
Derivative instruments and hedging activities - Non-hedging activities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of net gain (loss) recognized in income on derivatives | $ 7,746 | $ 2,313 | $ (2,982) |
Forward contracts | Mortgage banking activities | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of net gain (loss) recognized in income on derivatives | 8,094 | 2,027 | (5,027) |
Indexed options on deposits | Interest Expense | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of net gain (loss) recognized in income on derivatives | (5,290) | 6,824 | 5,462 |
Bifurcated embedded options | Interest Expense | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of net gain (loss) recognized in income on derivatives | $ 4,942 | $ (6,538) | $ (3,417) |
Derivative instruments and he_7
Derivative instruments and hedging activities - Derivative instruments and hedging activities- Additional Information (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative [Line Items] | |||
Fair Value Hedges, Net | $ 0 | $ 0 | |
Amount of net gain (loss) recognized in income on derivatives | 7,746,000 | 2,313,000 | $ (2,982,000) |
Derivative liabilities credit risk gain losses | $ (500,000) | $ (300,000) | $ 700,000 |
Derivative remaining maturity days | 72 days |
Related party transactions - Re
Related party transactions - Related party transactions table (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Related Party Transaction [Line Items] | ||
Beginning of period | $ 102,579 | $ 124,891 |
New loans | 11,090 | 3,182 |
Payments | (15,402) | (28,208) |
Other Changes | 27,070 | 2,714 |
End of period | $ 125,337 | $ 102,579 |
Related party transactions - Pr
Related party transactions - Proportionate share of income (loss) and changes in stockholder's equity from EVERTEC (Details) - EVERTEC Inc. - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | |||
Share of income from investment | $ 269,539 | $ 26,096 | $ 16,936 |
Share of other changes in stockholders equity | 3,168 | 53 | 865 |
Share of changes in equity recognized in income | $ 272,707 | $ 26,149 | $ 17,801 |
Related party transactions - Fi
Related party transactions - Financial Condition accounts outstanding with EVERTEC - Parenthetical (Details) $ in Millions | 3 Months Ended |
Sep. 30, 2022 USD ($) | |
EVERTEC Inc. | EVERTEC Assets | Master service agreement | |
Related Party Transaction [Line Items] | |
Net expense charged for the quarter | $ 17.3 |
Related party transactions - Im
Related party transactions - Impact on the results of operations of transactions between the Corporation and EVERTEC (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | |||
Related Party Transaction, Amounts of Transaction | $ (11,090) | $ (3,182) | |
EVERTEC Inc. | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Amounts of Transaction | (111,315) | (211,616) | $ (192,671) |
EVERTEC Inc. | Interest Expense | |||
Related Party Transaction [Line Items] | |||
Interest Expense Related Party | (267) | (388) | (315) |
EVERTEC Inc. | ATH and credit cards interchange income from services | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction Revenues From Transactions With Related Party | 13,955 | 27,384 | 22,406 |
EVERTEC Inc. | Rental income charged | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction Revenues From Transactions With Related Party | 3,258 | 6,593 | 7,305 |
EVERTEC Inc. | Processing fees on services provided | |||
Related Party Transaction [Line Items] | |||
Expenses from Transactions with related party | (128,681) | (245,945) | (223,069) |
EVERTEC Inc. | Other services provided | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction Revenues From Transactions With Related Party | $ 420 | $ 740 | $ 1,002 |
Related party transactions - _2
Related party transactions - Related party transactions with affiliated company - Equity Method - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Sep. 30, 2022 | Jul. 02, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Aug. 15, 2022 | Jun. 30, 2022 | Oct. 15, 2021 | |
Related Party Transaction [Line Items] | ||||||||
Equity investment | $ 210,001 | $ 298,988 | ||||||
Gain on shares sold to acquiree | 8,198 | 0 | $ 0 | |||||
Goodwill on acquisition | 827,428 | 720,293 | 671,122 | $ 49,171 | ||||
Return of capital from equity method investments | 681 | 6,362 | 959 | |||||
Information technology and data processing | 291,902 | 277,979 | 263,886 | |||||
EVERTEC Inc. | ||||||||
Related Party Transaction [Line Items] | ||||||||
Earnings from investments in equity method investees | 272,707 | 26,149 | $ 17,801 | |||||
Dividends distribution | 1,500 | $ 2,300 | ||||||
EVERTEC Inc. | EVERTEC Assets | ||||||||
Related Party Transaction [Line Items] | ||||||||
Ownership interest | 16.19% | |||||||
EVERTEC Inc. | EVERTEC Assets | ||||||||
Related Party Transaction [Line Items] | ||||||||
Number of shares held | 11,654,803 | |||||||
Business acquisition, aggregated equity value | $ 169,200 | |||||||
Evertec stock price at period end | $ 36.88 | |||||||
Common stock shares deliver to Evertec as consideration | 4,589,169 | |||||||
Goodwill on acquisition | $ 116,135 | |||||||
Additional common stock shares deliver to Evertec as consideration | 7,065,634 | |||||||
Developed technology - Software intangible assets | 28,650 | 28,700 | ||||||
Business combination total consideration | 144,785 | |||||||
Information technology and data processing | 242,000 | |||||||
Merchant acquiring relationship | 6,700 | |||||||
Pre-tax gain on sale of shares | $ 137,800 | $ 119,900 | ||||||
BHD LEON | ||||||||
Related Party Transaction [Line Items] | ||||||||
Equity investment | 199,800 | $ 180,300 | ||||||
Earnings from investments in equity method investees | 31,200 | 27,700 | ||||||
Dividends distribution | $ 16,000 | $ 4,300 | ||||||
BHD LEON | BHD LEON | ||||||||
Related Party Transaction [Line Items] | ||||||||
Ownership interest | 15.84% |
Related party transactions - _3
Related party transactions - Related party transactions with affiliated company - Additional Information 1 (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Related Party Transaction [Line Items] | ||
Related Party Transaction, Amounts of Transaction | $ 11,090 | $ 3,182 |
Related Party With Investment Companies | ||
Related Party Transaction [Line Items] | ||
Administrative Fees | 2,500 | 4,100 |
Waived Fees | 900 | 1,500 |
Net fees | 1,600 | 2,600 |
Banco Popular Foundation | ||
Related Party Transaction [Line Items] | ||
Donations Expenses | 1,500 | 1,300 |
Related party exclude Evertec | ||
Related Party Transaction [Line Items] | ||
Deposits | 628,000 | 700,000 |
Banco Popular Foundation and Popular Bank Foundation | ||
Related Party Transaction [Line Items] | ||
Donations Expenses | $ 4,800 | $ 4,500 |
Related party transactions - _4
Related party transactions - Related party transactions with affiliated company - Additional Information 2 (Details) $ in Thousands | 1 Months Ended | 2 Months Ended | 12 Months Ended | 48 Months Ended | ||||
May 31, 2017 USD ($) | Feb. 15, 2019 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2014 USD ($) loans | Nov. 07, 2022 USD ($) | Feb. 28, 2019 | Apr. 01, 2010 USD ($) | |
Related Party Transaction [Line Items] | ||||||||
New loans | $ 11,090 | $ 3,182 | ||||||
Family member of management / director | Commercial Loans | ||||||||
Related Party Transaction [Line Items] | ||||||||
Aggregated unpaid principal balance | 29,300 | $ 33,500 | ||||||
Proceeds from interest received | 700 | |||||||
Principal payments received | 1,400 | |||||||
Family member of management / director | Commercial Loans | Note A | ||||||||
Related Party Transaction [Line Items] | ||||||||
Aggregated unpaid principal balance | 15,800 | $ 19,800 | ||||||
Loan Count | loans | 5 | |||||||
Annual Interest Rate | 6% | 5.25% | 4.25% | |||||
Mandatory principal repayment due on delinquent mortgage loan | $ 700 | |||||||
Family member of management / director | Commercial Loans | Note B | ||||||||
Related Party Transaction [Line Items] | ||||||||
Aggregated unpaid principal balance | 13,500 | $ 13,500 | ||||||
Loan Count | loans | 5 | |||||||
Annual Interest Rate | 1% | 1% | 1% | |||||
Related party transaction loan sold between BPPR and Popular Inc | Commercial Loans | ||||||||
Related Party Transaction [Line Items] | ||||||||
Aggregated unpaid principal balance | $ 37,900 | 33,600 | $ 40,200 | |||||
Principal amount balance | $ 36,000 | |||||||
Other Additional Capital | 6,000 | |||||||
Interest Payment | $ 500 | |||||||
Loan amortization term | 30 years | 20 years | ||||||
Loan renewal term | 36 months | |||||||
Annual Interest Rate | 5.75% | 4.50% | ||||||
New loans | $ 37,900 | |||||||
Proceeds from interest received | 1,500 | |||||||
Principal payments received | $ 1,200 |
Fair value measurement - Assets
Fair value measurement - Assets and liabilities measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Assets | |||
Debt securities available-for-sale | $ 17,804,374 | $ 24,968,269 | |
Mortgage servicing rights | 128,350 | 121,570 | $ 118,395 |
Liabilities | |||
Derivatives | (17,000) | (22,878) | |
US Treasury Securities | |||
Assets | |||
Debt securities available-for-sale | 11,180,948 | 15,859,030 | |
Obligations of U.S. Government sponsored entities | |||
Assets | |||
Debt securities available-for-sale | 70 | ||
Collateralized Mortgage Obligations - Federal agencies | |||
Assets | |||
Debt securities available-for-sale | 165,196 | 221,265 | |
Mortgage Backed Securities | |||
Assets | |||
Debt securities available-for-sale | 6,457,170 | 8,887,776 | |
Other | |||
Assets | |||
Debt securities available-for-sale | 1,060 | 128 | |
Recurring | |||
Assets | |||
Debt securities available-for-sale | 17,804,374 | 24,968,269 | |
Trading account debt securities, excluding derivatives | 27,723 | 29,711 | |
Equity securities at fair value | 29,632 | 32,506 | |
Mortgage servicing rights | 128,350 | 121,570 | |
Derivatives | 19,229 | 26,093 | |
Total assets measured at fair value on recurring /nonrecurring basis | 18,009,308 | 25,178,149 | |
Liabilities | |||
Derivatives | (17,000) | (22,878) | |
Contingent consideration | (9,241) | ||
Total | (17,000) | (32,119) | |
Recurring | US Treasury Securities | |||
Assets | |||
Debt securities available-for-sale | 11,180,948 | 15,859,030 | |
Trading account debt securities, excluding derivatives | 13,069 | 6,530 | |
Recurring | Obligations of U.S. Government sponsored entities | |||
Assets | |||
Debt securities available-for-sale | 70 | ||
Recurring | Obligations of Puerto Rico, States and political subdivisions | |||
Assets | |||
Trading account debt securities, excluding derivatives | 64 | 85 | |
Recurring | Collateralized Mortgage Obligations - Federal agencies | |||
Assets | |||
Debt securities available-for-sale | 165,196 | 221,265 | |
Recurring | CMO | |||
Assets | |||
Trading account debt securities, excluding derivatives | 160 | 257 | |
Recurring | Mortgage Backed Securities | |||
Assets | |||
Debt securities available-for-sale | 6,457,170 | 8,887,776 | |
Trading account debt securities, excluding derivatives | 14,223 | 22,559 | |
Recurring | Other | |||
Assets | |||
Debt securities available-for-sale | 1,060 | 128 | |
Trading account debt securities, excluding derivatives | 207 | 280 | |
Recurring | Level 1 | |||
Assets | |||
Debt securities available-for-sale | 1,908,589 | 0 | |
Trading account debt securities, excluding derivatives | 13,069 | 6,530 | |
Equity securities at fair value | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Derivatives | 0 | 0 | |
Total assets measured at fair value on recurring /nonrecurring basis | 1,921,658 | 6,530 | |
Liabilities | |||
Derivatives | 0 | 0 | |
Contingent consideration | 0 | ||
Total | 0 | 0 | |
Recurring | Level 1 | US Treasury Securities | |||
Assets | |||
Debt securities available-for-sale | 1,908,589 | 0 | |
Trading account debt securities, excluding derivatives | 13,069 | 6,530 | |
Recurring | Level 1 | Obligations of U.S. Government sponsored entities | |||
Assets | |||
Debt securities available-for-sale | 0 | ||
Recurring | Level 1 | Obligations of Puerto Rico, States and political subdivisions | |||
Assets | |||
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | Level 1 | Collateralized Mortgage Obligations - Federal agencies | |||
Assets | |||
Debt securities available-for-sale | 0 | 0 | |
Recurring | Level 1 | CMO | |||
Assets | |||
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | Level 1 | Mortgage Backed Securities | |||
Assets | |||
Debt securities available-for-sale | 0 | 0 | |
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | Level 1 | Other | |||
Assets | |||
Debt securities available-for-sale | 0 | 0 | |
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | Level 2 | |||
Assets | |||
Debt securities available-for-sale | 15,894,074 | 24,967,443 | |
Trading account debt securities, excluding derivatives | 14,119 | 22,703 | |
Equity securities at fair value | 29,302 | 32,429 | |
Mortgage servicing rights | 0 | 0 | |
Derivatives | 19,229 | 26,093 | |
Total assets measured at fair value on recurring /nonrecurring basis | 15,956,724 | 25,048,668 | |
Liabilities | |||
Derivatives | (17,000) | (22,878) | |
Contingent consideration | 0 | ||
Total | (17,000) | (22,878) | |
Recurring | Level 2 | US Treasury Securities | |||
Assets | |||
Debt securities available-for-sale | 9,272,359 | 15,859,030 | |
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | Level 2 | Obligations of U.S. Government sponsored entities | |||
Assets | |||
Debt securities available-for-sale | 70 | ||
Recurring | Level 2 | Obligations of Puerto Rico, States and political subdivisions | |||
Assets | |||
Trading account debt securities, excluding derivatives | 64 | 85 | |
Recurring | Level 2 | Collateralized Mortgage Obligations - Federal agencies | |||
Assets | |||
Debt securities available-for-sale | 165,196 | 221,265 | |
Recurring | Level 2 | CMO | |||
Assets | |||
Trading account debt securities, excluding derivatives | 47 | 59 | |
Recurring | Level 2 | Mortgage Backed Securities | |||
Assets | |||
Debt securities available-for-sale | 6,456,459 | 8,886,950 | |
Trading account debt securities, excluding derivatives | 14,008 | 22,559 | |
Recurring | Level 2 | Other | |||
Assets | |||
Debt securities available-for-sale | 60 | 128 | |
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | Level 3 | |||
Assets | |||
Debt securities available-for-sale | 1,711 | 826 | |
Trading account debt securities, excluding derivatives | 535 | 478 | |
Equity securities at fair value | 0 | 0 | |
Mortgage servicing rights | 128,350 | 121,570 | |
Derivatives | 0 | 0 | |
Total assets measured at fair value on recurring /nonrecurring basis | 130,596 | 122,874 | |
Liabilities | |||
Derivatives | 0 | 0 | |
Contingent consideration | (9,241) | ||
Total | 0 | (9,241) | |
Recurring | Level 3 | US Treasury Securities | |||
Assets | |||
Debt securities available-for-sale | 0 | 0 | |
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | Level 3 | Obligations of U.S. Government sponsored entities | |||
Assets | |||
Debt securities available-for-sale | 0 | ||
Recurring | Level 3 | Obligations of Puerto Rico, States and political subdivisions | |||
Assets | |||
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | Level 3 | Collateralized Mortgage Obligations - Federal agencies | |||
Assets | |||
Debt securities available-for-sale | 0 | 0 | |
Recurring | Level 3 | CMO | |||
Assets | |||
Trading account debt securities, excluding derivatives | 113 | 198 | |
Recurring | Level 3 | Mortgage Backed Securities | |||
Assets | |||
Debt securities available-for-sale | 711 | 826 | |
Trading account debt securities, excluding derivatives | 215 | 0 | |
Recurring | Level 3 | Other | |||
Assets | |||
Debt securities available-for-sale | 1,000 | 0 | |
Trading account debt securities, excluding derivatives | 207 | 280 | |
Recurring | NAV | |||
Assets | |||
Debt securities available-for-sale | 0 | 0 | |
Trading account debt securities, excluding derivatives | 0 | 0 | |
Equity securities at fair value | 330 | 77 | |
Mortgage servicing rights | 0 | 0 | |
Derivatives | 0 | 0 | |
Total assets measured at fair value on recurring /nonrecurring basis | 330 | 77 | |
Liabilities | |||
Derivatives | 0 | 0 | |
Contingent consideration | 0 | ||
Total | 0 | 0 | |
Recurring | NAV | US Treasury Securities | |||
Assets | |||
Debt securities available-for-sale | 0 | 0 | |
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | NAV | Obligations of U.S. Government sponsored entities | |||
Assets | |||
Debt securities available-for-sale | 0 | ||
Recurring | NAV | Obligations of Puerto Rico, States and political subdivisions | |||
Assets | |||
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | NAV | Collateralized Mortgage Obligations - Federal agencies | |||
Assets | |||
Debt securities available-for-sale | 0 | 0 | |
Recurring | NAV | CMO | |||
Assets | |||
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | NAV | Mortgage Backed Securities | |||
Assets | |||
Debt securities available-for-sale | 0 | 0 | |
Trading account debt securities, excluding derivatives | 0 | 0 | |
Recurring | NAV | Other | |||
Assets | |||
Debt securities available-for-sale | 0 | 0 | |
Trading account debt securities, excluding derivatives | $ 0 | $ 0 |
Fair value measurement - Asse_2
Fair value measurement - Assets measured at fair value on nonrecurring basis (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other real estate | $ 89,126 | $ 85,077 | |
ROU assets | 125,573 | 141,748 | |
Nonrecurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | 11,215 | 21,167 | $ 74,511 |
Loans held-for-sale | 2,738 | ||
Other real estate | 3,992 | 7,727 | 20,123 |
Other foreclosed assets | 13 | 68 | 116 |
ROU assets | 446 | ||
Leasehold improvements | 126 | ||
Long-lived asset held-for-sale | 1,178 | 9,007 | |
Trademark | 156 | ||
Total assets measured at fair value on recurring /nonrecurring basis | 16,398 | 38,125 | 98,060 |
Loans - write-down | (2,067) | (3,721) | (15,290) |
Loans held-for-sale - write-down | (1,311) | ||
Other real estate owned - write down | (1,026) | (1,579) | (3,325) |
Other foreclosed assets - write down | (1) | (33) | (148) |
ROU Assets - write down | (15,920) | ||
Leasehold improvements - write down | (2,084) | ||
Long-lived asset held-for-sale - write down | (2,155) | (5,320) | |
Trademark - write down | (5,404) | ||
Total assets measured - write down | (5,249) | (16,057) | (38,078) |
Nonrecurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | 0 | 0 | 0 |
Loans held-for-sale | 0 | ||
Other real estate | 0 | 0 | 0 |
Other foreclosed assets | 0 | 0 | 0 |
ROU assets | 0 | ||
Leasehold improvements | 0 | ||
Long-lived asset held-for-sale | 0 | 0 | |
Trademark | 0 | ||
Total assets measured at fair value on recurring /nonrecurring basis | 0 | 0 | 0 |
Nonrecurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | 0 | 0 | 0 |
Loans held-for-sale | 0 | ||
Other real estate | 0 | 0 | 0 |
Other foreclosed assets | 0 | 0 | 0 |
ROU assets | 0 | ||
Leasehold improvements | 0 | ||
Long-lived asset held-for-sale | 0 | 0 | |
Trademark | 0 | ||
Total assets measured at fair value on recurring /nonrecurring basis | 0 | 0 | 0 |
Nonrecurring | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | 11,215 | 21,167 | 74,511 |
Loans held-for-sale | 2,738 | ||
Other real estate | 3,992 | 7,727 | 20,123 |
Other foreclosed assets | 13 | 68 | 116 |
ROU assets | 446 | ||
Leasehold improvements | 126 | ||
Long-lived asset held-for-sale | 1,178 | 9,007 | |
Trademark | 156 | ||
Total assets measured at fair value on recurring /nonrecurring basis | $ 16,398 | $ 38,125 | $ 98,060 |
Fair value measurement - Change
Fair value measurement - Changes in level 3 assets and liabilities measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Assets, Fair Value Disclosure [Abstract] | |||
Beginning Balance | $ 122,874 | $ 120,068 | $ 153,058 |
Gains (Losses) included in earnings | 95 | (10,318) | (42,115) |
Gains (losses) included in OCI | (15) | (13) | (18) |
Additions | 7,830 | 13,419 | 9,548 |
Settlements | (188) | (282) | (405) |
Ending Balance | 130,596 | 122,874 | 120,068 |
Changes in unrealized gains (losses) included in earnings relating to assets still held | 11,943 | 6,364 | (19,300) |
Liabilities, Fair Value Disclosure [Abstract] | |||
Beginning Balance | (9,241) | 0 | |
Gains (Losses) included in earnings | 9,241 | 0 | |
Gains (losses) included in OCI | 0 | 0 | |
Additions | 0 | (9,241) | |
Settlements | 0 | 0 | |
Ending Balance | 0 | (9,241) | 0 |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | 0 | 0 | |
Contingent consideration | |||
Liabilities, Fair Value Disclosure [Abstract] | |||
Beginning Balance | (9,241) | 0 | |
Gains (Losses) included in earnings | 9,241 | 0 | |
Gains (losses) included in OCI | 0 | 0 | |
Additions | 0 | (9,241) | |
Settlements | 0 | 0 | |
Ending Balance | 0 | (9,241) | 0 |
Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss | 0 | 0 | |
Debt securities available-for-sale | Mortgage Backed Securities | |||
Assets, Fair Value Disclosure [Abstract] | |||
Beginning Balance | 826 | 1,014 | 1,182 |
Gains (Losses) included in earnings | 0 | 0 | 0 |
Gains (losses) included in OCI | (15) | (13) | (18) |
Additions | 0 | 0 | 0 |
Settlements | (100) | (175) | (150) |
Ending Balance | 711 | 826 | 1,014 |
Changes in unrealized gains (losses) included in earnings relating to assets still held | 0 | 0 | 0 |
Debt securities available-for-sale | Other | |||
Assets, Fair Value Disclosure [Abstract] | |||
Beginning Balance | 0 | ||
Gains (Losses) included in earnings | 0 | ||
Gains (losses) included in OCI | 0 | ||
Additions | 1,000 | ||
Settlements | 0 | ||
Ending Balance | 1,000 | 0 | |
Changes in unrealized gains (losses) included in earnings relating to assets still held | 0 | ||
Trading account debt securities | Mortgage Backed Securities | |||
Assets, Fair Value Disclosure [Abstract] | |||
Beginning Balance | 0 | ||
Gains (Losses) included in earnings | 4 | ||
Gains (losses) included in OCI | 0 | ||
Additions | 211 | ||
Settlements | 0 | ||
Ending Balance | 215 | 0 | |
Changes in unrealized gains (losses) included in earnings relating to assets still held | 4 | ||
Trading account debt securities | CMO | |||
Assets, Fair Value Disclosure [Abstract] | |||
Beginning Balance | 198 | 278 | 530 |
Gains (Losses) included in earnings | (2) | (1) | (1) |
Gains (losses) included in OCI | 0 | 0 | 0 |
Additions | 5 | 29 | 4 |
Settlements | (88) | (107) | (255) |
Ending Balance | 113 | 198 | 278 |
Changes in unrealized gains (losses) included in earnings relating to assets still held | (2) | (1) | 0 |
Trading account debt securities | Other | |||
Assets, Fair Value Disclosure [Abstract] | |||
Beginning Balance | 280 | 381 | 440 |
Gains (Losses) included in earnings | (73) | (101) | (59) |
Gains (losses) included in OCI | 0 | 0 | 0 |
Additions | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 |
Ending Balance | 207 | 280 | 381 |
Changes in unrealized gains (losses) included in earnings relating to assets still held | (23) | (45) | 27 |
Mortgage Servicing Rights | |||
Assets, Fair Value Disclosure [Abstract] | |||
Beginning Balance | 121,570 | 118,395 | 150,906 |
Gains (Losses) included in earnings | 166 | (10,216) | (42,055) |
Gains (losses) included in OCI | 0 | 0 | 0 |
Additions | 6,614 | 13,391 | 9,544 |
Settlements | 0 | 0 | 0 |
Ending Balance | 128,350 | 121,570 | 118,395 |
Changes in unrealized gains (losses) included in earnings relating to assets still held | $ 11,964 | $ 6,410 | $ (19,327) |
Fair value measurement - Gains
Fair value measurement - Gains and losses (realized and unrealized) included in earnings for level 3 assets and liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Abstract | |||
Gain (loss) included in earnings | $ 9,336 | $ (10,318) | $ (42,115) |
Changes in unrealized gains (losses) included in earnings relating to assets still held | 11,943 | 6,364 | (19,300) |
Mortgage banking activities | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Abstract | |||
Gain (loss) included in earnings | 166 | (10,216) | (42,055) |
Changes in unrealized gains (losses) included in earnings relating to assets still held | 11,964 | 6,410 | (19,327) |
Trading account (loss) profit | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Abstract | |||
Gain (loss) included in earnings | (71) | (102) | (60) |
Changes in unrealized gains (losses) included in earnings relating to assets still held | (21) | (46) | 27 |
Other operating income | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Abstract | |||
Gain (loss) included in earnings | 9,241 | 0 | 0 |
Changes in unrealized gains (losses) included in earnings relating to assets still held | $ 0 | $ 0 | $ 0 |
Fair value measurement - Quanti
Fair value measurement - Quantitative inputs level 3 (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Assets | |||
Mortgage servicing rights | $ 128,350 | $ 121,570 | $ 118,395 |
Other real estate | 89,126 | 85,077 | |
Recurring | |||
Assets | |||
Trading Securities Debt | 27,723 | 29,711 | |
Mortgage servicing rights | 128,350 | 121,570 | |
Contingent consideration | (9,241) | ||
Recurring | CMO | |||
Assets | |||
Trading Securities Debt | 160 | 257 | |
Recurring | Other | |||
Assets | |||
Trading Securities Debt | 207 | 280 | |
Recurring | Level 3 | |||
Assets | |||
Trading Securities Debt | 535 | 478 | |
Mortgage servicing rights | 128,350 | 121,570 | |
Contingent consideration | (9,241) | ||
Recurring | Level 3 | CMO | |||
Assets | |||
Trading Securities Debt | $ 113 | $ 198 | |
Recurring | Level 3 | CMO | Trading account debt securities | Discounted cash flow approach | Minimum | |||
Unobservable inputs | |||
Weighted average life (in years) | 1 month 6 days | 4 months 24 days | |
Yield | 4.90% | 3.60% | |
Weighted average prepayment speed (annual rate) | 9.10% | 10.10% | |
Recurring | Level 3 | CMO | Trading account debt securities | Discounted cash flow approach | Maximum | |||
Unobservable inputs | |||
Weighted average life (in years) | 7 months 6 days | 1 year | |
Yield | 5.40% | 4.10% | |
Weighted average prepayment speed (annual rate) | 32% | 17.20% | |
Recurring | Level 3 | CMO | Trading account debt securities | Discounted cash flow approach | Weighted Average | |||
Unobservable inputs | |||
Weighted average life (in years) | 4 months 24 days | 9 months 18 days | |
Yield | 4.90% | 3.60% | |
Weighted average prepayment speed (annual rate) | 10.20% | 11.40% | |
Recurring | Level 3 | Other | |||
Assets | |||
Trading Securities Debt | $ 207 | $ 280 | |
Recurring | Level 3 | Other | Trading account debt securities | Discounted cash flow approach | |||
Unobservable inputs | |||
Weighted average life (in years) | 2 years 6 months | 2 years 10 months 24 days | |
Yield | 12% | 12% | |
Weighted average prepayment speed (annual rate) | 0.108% | 10.80% | |
Nonrecurring | |||
Assets | |||
Loans | $ 11,215 | $ 21,167 | 74,511 |
Other real estate | 3,992 | 7,727 | 20,123 |
Nonrecurring | Level 3 | |||
Assets | |||
Loans | 11,215 | 21,167 | 74,511 |
Other real estate | 3,992 | 7,727 | $ 20,123 |
Nonrecurring | Level 3 | Loan | |||
Assets | |||
Loans | $ 5,087 | $ 20,041 | |
Nonrecurring | Level 3 | Loan | Valuation Technique External Appraisal | Minimum | |||
Unobservable inputs | |||
Haircut applied on external appraisal | 5% | ||
Nonrecurring | Level 3 | Loan | Valuation Technique External Appraisal | Maximum | |||
Unobservable inputs | |||
Haircut applied on external appraisal | 10.40% | ||
Nonrecurring | Level 3 | Loan | Valuation Technique External Appraisal | Weighted Average | |||
Unobservable inputs | |||
Haircut applied on external appraisal | 8.30% | 5% | |
Nonrecurring | Level 3 | Other real estate owned | |||
Assets | |||
Other real estate | $ 528 | $ 3,631 | |
Nonrecurring | Level 3 | Other real estate owned | Valuation Technique External Appraisal | Minimum | |||
Unobservable inputs | |||
Haircut applied on external appraisal | 5% | 5% | |
Nonrecurring | Level 3 | Other real estate owned | Valuation Technique External Appraisal | Maximum | |||
Unobservable inputs | |||
Haircut applied on external appraisal | 35% | 35% | |
Nonrecurring | Level 3 | Other real estate owned | Valuation Technique External Appraisal | Weighted Average | |||
Unobservable inputs | |||
Haircut applied on external appraisal | 18.40% | 22.30% |
Fair value measurement - Additi
Fair value measurement - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Trading account debt securities | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Fair Value Measurements, Sensitivity Analysis, Description | The significant unobservable inputs used in the fair value measurement of the Corporation’s collateralized mortgage obligations and interest-only collateralized mortgage obligation (reported as “other”), which are classified in the “trading” category, are yield, constant prepayment rate, and weighted average life. Significant increases (decreases) in any of those inputs in isolation would result in significantly lower (higher) fair value measurement. Generally, a change in the assumption used for the constant prepayment rate will generate a directionally opposite change in the weighted average life. For example, as the average life is reduced by a higher constant prepayment rate, a lower yield will be realized, and when there is a reduction in the constant prepayment rate, the average life of these collateralized mortgage obligations will extend, thus resulting in a higher yield. |
Mortgage Servicing Rights | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Fair Value Measurements, Sensitivity Analysis, Description | The significant unobservable inputs used in the fair value measurement of the Corporation’s mortgage servicing rights are constant prepayment rates and discount rates. Increases in interest rates may result in lower prepayments. Discount rates vary according to products and / or portfolios depending on the perceived risk. Increases in discount rates result in a lower fair value measurement |
Fair value of financial instr_3
Fair value of financial instruments - Carrying or notional amounts and estimated fair values for financial instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Financial Assets: | |||
Cash and due from banks | $ 469,501 | $ 428,433 | |
Money market investments | 5,614,595 | 17,536,719 | |
Debt securities available-for-sale | 17,804,374 | 24,968,269 | |
Debt securities held-to-maturity | 8,518,455 | 71,365 | |
Equity securities: | |||
Equity securities, at lower of cost or realizable value | 195,854 | 189,977 | |
Loans held in portfolio | 31,357,467 | 28,545,191 | |
Mortgage servicing rights | 128,350 | 121,570 | $ 118,395 |
Deposits | |||
Time deposits | 6,781,401 | 6,712,149 | |
Deposits | 61,227,227 | 67,005,088 | |
Assets sold under agreements to repurchase | 148,609 | 91,603 | |
Other short-term borrowings | 365,000 | 75,000 | |
Notes payable: | |||
Notes payable | 886,710 | 988,563 | |
Derivatives | 17,000 | 22,878 | |
US Treasury Securities | |||
Financial Assets: | |||
Debt securities available-for-sale | 11,180,948 | 15,859,030 | |
Debt securities held-to-maturity | 8,453,467 | ||
Obligations of Puerto Rico, States and political subdivisions | |||
Financial Assets: | |||
Debt securities held-to-maturity | 59,010 | 65,380 | |
Collateralized Mortgage Obligations - Federal agencies | |||
Financial Assets: | |||
Debt securities available-for-sale | 165,196 | 221,265 | |
Debt securities held-to-maturity | 19 | 25 | |
Securities in wholly owned statutory business trusts | |||
Financial Assets: | |||
Debt securities held-to-maturity | 5,959 | 5,960 | |
Other | |||
Financial Assets: | |||
Debt securities available-for-sale | 1,060 | 128 | |
Carrying amount | |||
Financial Assets: | |||
Cash and due from banks | 469,501 | 428,433 | |
Money market investments | 5,614,595 | 17,536,719 | |
Trading account debt securities, excluding derivatives | 27,723 | 29,711 | |
Debt securities available-for-sale | 17,804,374 | 24,968,269 | |
Debt securities held-to-maturity | 8,518,455 | 71,365 | |
Equity securities: | |||
FHLB stock | 65,861 | 59,918 | |
FRB stock | 96,206 | 96,217 | |
Other investments | 33,787 | 33,842 | |
Equity securities, at lower of cost or realizable value | 195,854 | 189,977 | |
Loans held-for-sale | 5,381 | 59,168 | |
Loans held in portfolio | 31,357,467 | 28,545,191 | |
Mortgage servicing rights | 128,350 | 121,570 | |
Derivatives | 19,229 | 26,093 | |
Deposits | |||
Demand deposits | 54,445,825 | 60,292,939 | |
Time deposits | 6,781,402 | 6,712,149 | |
Deposits | 61,227,227 | 67,005,088 | |
Assets sold under agreements to repurchase | 148,609 | 91,603 | |
Other short-term borrowings | 365,000 | 75,000 | |
Notes payable: | |||
FHLB advances | 389,282 | 492,429 | |
Unsecured senior debt securities | 299,109 | 297,842 | |
Junior subordinated deferrable interest debentures (related to trust preferred securities) | 198,319 | 198,292 | |
Notes payable | 886,710 | 988,563 | |
Derivatives | 17,000 | 22,878 | |
Contingent consideration | 9,241 | ||
Carrying amount | US Treasury Securities | |||
Financial Assets: | |||
Debt securities held-to-maturity | 8,453,467 | ||
Carrying amount | Obligations of Puerto Rico, States and political subdivisions | |||
Financial Assets: | |||
Debt securities held-to-maturity | 59,010 | 65,380 | |
Carrying amount | Collateralized Mortgage Obligations - Federal agencies | |||
Financial Assets: | |||
Debt securities held-to-maturity | 19 | 25 | |
Carrying amount | Securities in wholly owned statutory business trusts | |||
Financial Assets: | |||
Debt securities held-to-maturity | 5,959 | 5,960 | |
Fair Value | |||
Financial Assets: | |||
Cash and due from banks | 469,501 | 428,433 | |
Money market investments | 5,614,595 | 17,536,719 | |
Trading account debt securities, excluding derivatives | 27,723 | 29,711 | |
Debt securities available-for-sale | 17,804,374 | 24,968,269 | |
Debt securities held-to-maturity | 8,440,196 | 83,368 | |
Equity securities: | |||
FHLB stock | 65,861 | 59,918 | |
FRB stock | 96,206 | 96,217 | |
Other investments | 34,598 | 36,210 | |
Equity securities, at lower of cost or realizable value | 196,665 | 192,345 | |
Loans held-for-sale | 5,404 | 59,885 | |
Loans held in portfolio | 29,366,365 | 27,489,583 | |
Mortgage servicing rights | 128,350 | 121,570 | |
Derivatives | 19,229 | 26,093 | |
Deposits | |||
Demand deposits | 54,445,825 | 60,292,939 | |
Time deposits | 6,464,943 | 6,647,301 | |
Deposits | 60,910,768 | 66,940,240 | |
Assets sold under agreements to repurchase | 148,566 | 91,602 | |
Other short-term borrowings | 365,000 | 75,000 | |
Notes payable: | |||
FHLB advances | 361,951 | 496,091 | |
Unsecured senior debt securities | 300,027 | 319,296 | |
Junior subordinated deferrable interest debentures (related to trust preferred securities) | 173,938 | 201,879 | |
Notes payable | 835,916 | 1,017,266 | |
Derivatives | 17,000 | 22,878 | |
Contingent consideration | 9,241 | ||
Fair Value | US Treasury Securities | |||
Financial Assets: | |||
Debt securities held-to-maturity | 8,372,601 | ||
Fair Value | Obligations of Puerto Rico, States and political subdivisions | |||
Financial Assets: | |||
Debt securities held-to-maturity | 61,617 | 77,383 | |
Fair Value | Collateralized Mortgage Obligations - Federal agencies | |||
Financial Assets: | |||
Debt securities held-to-maturity | 19 | 25 | |
Fair Value | Securities in wholly owned statutory business trusts | |||
Financial Assets: | |||
Debt securities held-to-maturity | 5,959 | 5,960 | |
Fair Value | Level 1 | |||
Financial Assets: | |||
Cash and due from banks | 469,501 | 428,433 | |
Money market investments | 5,607,937 | 17,530,640 | |
Trading account debt securities, excluding derivatives | 13,069 | 6,530 | |
Debt securities available-for-sale | 1,908,589 | 0 | |
Debt securities held-to-maturity | 0 | 0 | |
Equity securities: | |||
FHLB stock | 0 | 0 | |
FRB stock | 0 | 0 | |
Other investments | 0 | 0 | |
Equity securities, at lower of cost or realizable value | 0 | 0 | |
Loans held-for-sale | 0 | 0 | |
Loans held in portfolio | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Derivatives | 0 | 0 | |
Deposits | |||
Demand deposits | 0 | 0 | |
Time deposits | 0 | 0 | |
Deposits | 0 | 0 | |
Assets sold under agreements to repurchase | 0 | 0 | |
Other short-term borrowings | 0 | 0 | |
Notes payable: | |||
FHLB advances | 0 | 0 | |
Unsecured senior debt securities | 0 | 0 | |
Junior subordinated deferrable interest debentures (related to trust preferred securities) | 0 | 0 | |
Notes payable | 0 | 0 | |
Derivatives | 0 | 0 | |
Contingent consideration | 0 | ||
Fair Value | Level 1 | US Treasury Securities | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | ||
Fair Value | Level 1 | Obligations of Puerto Rico, States and political subdivisions | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | 0 | |
Fair Value | Level 1 | Collateralized Mortgage Obligations - Federal agencies | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | 0 | |
Fair Value | Level 1 | Securities in wholly owned statutory business trusts | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | 0 | |
Fair Value | Level 2 | |||
Financial Assets: | |||
Cash and due from banks | 0 | 0 | |
Money market investments | 6,658 | 6,079 | |
Trading account debt securities, excluding derivatives | 14,119 | 22,703 | |
Debt securities available-for-sale | 15,894,074 | 24,967,443 | |
Debt securities held-to-maturity | 8,378,560 | 5,960 | |
Equity securities: | |||
FHLB stock | 65,861 | 59,918 | |
FRB stock | 96,206 | 96,217 | |
Other investments | 29,302 | 32,429 | |
Equity securities, at lower of cost or realizable value | 191,369 | 188,564 | |
Loans held-for-sale | 0 | 0 | |
Loans held in portfolio | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Derivatives | 19,229 | 26,093 | |
Deposits | |||
Demand deposits | 54,445,825 | 60,292,939 | |
Time deposits | 6,464,943 | 6,647,301 | |
Deposits | 60,910,768 | 66,940,240 | |
Assets sold under agreements to repurchase | 148,566 | 91,602 | |
Other short-term borrowings | 365,000 | 75,000 | |
Notes payable: | |||
FHLB advances | 361,951 | 496,091 | |
Unsecured senior debt securities | 300,027 | 319,296 | |
Junior subordinated deferrable interest debentures (related to trust preferred securities) | 173,938 | 201,879 | |
Notes payable | 835,916 | 1,017,266 | |
Derivatives | 17,000 | 22,878 | |
Contingent consideration | 0 | ||
Fair Value | Level 2 | US Treasury Securities | |||
Financial Assets: | |||
Debt securities held-to-maturity | 8,372,601 | ||
Fair Value | Level 2 | Obligations of Puerto Rico, States and political subdivisions | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | 0 | |
Fair Value | Level 2 | Collateralized Mortgage Obligations - Federal agencies | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | 0 | |
Fair Value | Level 2 | Securities in wholly owned statutory business trusts | |||
Financial Assets: | |||
Debt securities held-to-maturity | 5,959 | 5,960 | |
Fair Value | Level 3 | |||
Financial Assets: | |||
Cash and due from banks | 0 | 0 | |
Money market investments | 0 | 0 | |
Trading account debt securities, excluding derivatives | 535 | 478 | |
Debt securities available-for-sale | 1,711 | 826 | |
Debt securities held-to-maturity | 61,636 | 77,408 | |
Equity securities: | |||
FHLB stock | 0 | 0 | |
FRB stock | 0 | 0 | |
Other investments | 4,966 | 3,704 | |
Equity securities, at lower of cost or realizable value | 4,966 | 3,704 | |
Loans held-for-sale | 5,404 | 59,885 | |
Loans held in portfolio | 29,366,365 | 27,489,583 | |
Mortgage servicing rights | 128,350 | 121,570 | |
Derivatives | 0 | 0 | |
Deposits | |||
Demand deposits | 0 | 0 | |
Time deposits | 0 | 0 | |
Deposits | 0 | 0 | |
Assets sold under agreements to repurchase | 0 | 0 | |
Other short-term borrowings | 0 | 0 | |
Notes payable: | |||
FHLB advances | 0 | 0 | |
Unsecured senior debt securities | 0 | 0 | |
Junior subordinated deferrable interest debentures (related to trust preferred securities) | 0 | 0 | |
Notes payable | 0 | 0 | |
Derivatives | 0 | 0 | |
Contingent consideration | 9,241 | ||
Fair Value | Level 3 | US Treasury Securities | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | ||
Fair Value | Level 3 | Obligations of Puerto Rico, States and political subdivisions | |||
Financial Assets: | |||
Debt securities held-to-maturity | 61,617 | 77,383 | |
Fair Value | Level 3 | Collateralized Mortgage Obligations - Federal agencies | |||
Financial Assets: | |||
Debt securities held-to-maturity | 19 | 25 | |
Fair Value | Level 3 | Securities in wholly owned statutory business trusts | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | 0 | |
Fair Value | NAV | |||
Financial Assets: | |||
Cash and due from banks | 0 | 0 | |
Money market investments | 0 | 0 | |
Trading account debt securities, excluding derivatives | 0 | 0 | |
Debt securities available-for-sale | 0 | 0 | |
Debt securities held-to-maturity | 0 | 0 | |
Equity securities: | |||
FHLB stock | 0 | 0 | |
FRB stock | 0 | 0 | |
Other investments | 330 | 77 | |
Equity securities, at lower of cost or realizable value | 330 | 77 | |
Loans held-for-sale | 0 | 0 | |
Loans held in portfolio | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Derivatives | 0 | 0 | |
Deposits | |||
Demand deposits | 0 | 0 | |
Time deposits | 0 | 0 | |
Deposits | 0 | 0 | |
Assets sold under agreements to repurchase | 0 | 0 | |
Other short-term borrowings | 0 | 0 | |
Notes payable: | |||
FHLB advances | 0 | 0 | |
Unsecured senior debt securities | 0 | 0 | |
Junior subordinated deferrable interest debentures (related to trust preferred securities) | 0 | 0 | |
Notes payable | 0 | 0 | |
Derivatives | 0 | 0 | |
Contingent consideration | 0 | ||
Fair Value | NAV | US Treasury Securities | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | ||
Fair Value | NAV | Obligations of Puerto Rico, States and political subdivisions | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | 0 | |
Fair Value | NAV | Collateralized Mortgage Obligations - Federal agencies | |||
Financial Assets: | |||
Debt securities held-to-maturity | 0 | 0 | |
Fair Value | NAV | Securities in wholly owned statutory business trusts | |||
Financial Assets: | |||
Debt securities held-to-maturity | $ 0 | $ 0 |
Fair Value of financial instr_4
Fair Value of financial instruments- Additional Information (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Letter Of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fair Value Disclosure Off balance Sheet Risks Face Amount Asset | $ 31 | $ 31 |
Commitments to extend credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fair Value Disclosure Off balance Sheet Risks Face Amount Asset | $ 10,500 | $ 9,500 |
Employee benefits - Plans targe
Employee benefits - Plans target allocation by asset category (Details) | Dec. 31, 2022 | Dec. 31, 2021 |
Popular Related Securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Define benefit plan actual asset allocations | 2% | 2% |
Popular Related Securities | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan assets target allocation | 5% | |
Popular Related Securities | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan assets target allocation | 0% | |
Equity | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Define benefit plan actual asset allocations | 27% | 30% |
Equity | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan assets target allocation | 70% | |
Equity | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan assets target allocation | 0% | |
Debt Securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Define benefit plan actual asset allocations | 69% | 67% |
Debt Securities | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan assets target allocation | 100% | |
Debt Securities | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan assets target allocation | 0% | |
Cash and Cash Equivalents | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Define benefit plan actual asset allocations | 2% | 1% |
Cash and Cash Equivalents | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan assets target allocation | 100% | |
Cash and Cash Equivalents | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan assets target allocation | 0% |
Employee benefits - Plan assets
Employee benefits - Plan assets by fair value hierarchy (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 619,885 | $ 860,484 | |
Obligations of U.S. Government sponsored entities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 138,510 | 197,636 | |
Corporate bonds and debentures | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 274,932 | 384,360 | |
Equity securities - Common stocks | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 32,906 | 41,414 | |
Equity securities - ETF's | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 72,112 | 136,811 | |
Foreign Commingled Trust Fund | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 64,630 | 82,912 | |
Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 25,577 | 5,262 | |
Private Equity investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 56 | |
Cash and Cash Equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7,637 | 7,523 | |
Accrued Income Receivable | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,581 | 4,510 | |
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 92,379 | 160,302 | |
Level 1 | Obligations of U.S. Government sponsored entities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 1 | Corporate bonds and debentures | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 1 | Equity securities - Common stocks | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 32,906 | 41,414 | |
Level 1 | Equity securities - ETF's | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 51,836 | 111,365 | |
Level 1 | Foreign Commingled Trust Fund | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 1 | Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 1 | Private Equity investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 1 | Cash and Cash Equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7,637 | 7,523 | |
Level 1 | Accrued Income Receivable | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 300,501 | 415,842 | |
Level 2 | Obligations of U.S. Government sponsored entities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 8,113 | 9,259 | |
Level 2 | Corporate bonds and debentures | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 268,641 | 375,875 | |
Level 2 | Equity securities - Common stocks | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 2 | Equity securities - ETF's | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 20,276 | 25,446 | |
Level 2 | Foreign Commingled Trust Fund | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 2 | Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,471 | 5,262 | |
Level 2 | Private Equity investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 2 | Cash and Cash Equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 2 | Accrued Income Receivable | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,581 | 4,566 | $ 3,917 |
Level 3 | Obligations of U.S. Government sponsored entities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 3 | Corporate bonds and debentures | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 3 | Equity securities - Common stocks | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 3 | Equity securities - ETF's | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 3 | Foreign Commingled Trust Fund | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 3 | Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 3 | Private Equity investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 56 | |
Level 3 | Cash and Cash Equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 3 | Accrued Income Receivable | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,581 | 4,510 | |
NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 223,424 | 279,774 | |
NAV | Obligations of U.S. Government sponsored entities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 130,397 | 188,377 | |
NAV | Corporate bonds and debentures | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 6,291 | 8,485 | |
NAV | Equity securities - Common stocks | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
NAV | Equity securities - ETF's | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
NAV | Foreign Commingled Trust Fund | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 64,630 | 82,912 | |
NAV | Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 22,106 | 0 | |
NAV | Private Equity investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
NAV | Cash and Cash Equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
NAV | Accrued Income Receivable | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 0 | $ 0 |
Employee benefits - Changes in
Employee benefits - Changes in level 3 assets measured at fair value (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation | ||
Fair value of plan assets at beginning of year | $ 860,484 | |
Fair value of plan assets at end of year | 619,885 | $ 860,484 |
Level 3 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation | ||
Fair value of plan assets at beginning of year | 4,566 | 3,917 |
Purchases, sales, issuance, settlements, paydowns and maturities (net) | (985) | 649 |
Fair value of plan assets at end of year | $ 3,581 | $ 4,566 |
Employee benefits - Information
Employee benefits - Information Popular Inc. shares of common stock held by the plans (Details) - Commom stock held by pension plan - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Shares of Popular, Inc. common stock | 171,931 | 167,182 |
Fair value of shares of Popular, Inc. common stock | $ 11,402 | $ 13,716 |
Dividends paid on shares of Popular, Inc. common stock held by the plan | $ 355 | $ 280 |
Employee benefits - Components
Employee benefits - Components of net periodic benefit cost (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension Plans | |||
Personnel costs: | |||
Service cost | $ 0 | $ 0 | $ 0 |
Other operating expenses | |||
Interest cost | 19,199 | 15,993 | 23,389 |
Expected return on plan assets | (35,388) | (38,679) | (38,104) |
Recognized net actuarial loss | 15,644 | 18,876 | 20,880 |
Net periodic benefit cost | 545 | 3,810 | (6,165) |
Other Adjustments | 0 | 0 | 0 |
Total net periodic pension cost | (545) | (3,810) | 6,165 |
OPEB Plan | |||
Personnel costs: | |||
Service cost | 485 | 642 | 713 |
Other operating expenses | |||
Interest cost | 3,931 | 3,573 | 4,913 |
Expected return on plan assets | 0 | 0 | 0 |
Recognized net actuarial loss | 0 | 1,873 | 567 |
Net periodic benefit cost | (4,416) | (6,088) | (6,193) |
Other Adjustments | 60 | 0 | 0 |
Total net periodic pension cost | $ 4,476 | $ 6,088 | $ 6,193 |
Employee benefits - Aggregate s
Employee benefits - Aggregate status of the plans and the amounts recognized in the consolidated financial statements (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Change in fair value of plan assets: | |||
Fair value of plan assets at beginning of year | $ 860,484 | ||
Fair value of plan assets at end of year | 619,885 | $ 860,484 | |
Pension Plans | |||
Change in benefit obligation: | |||
Benefit obligation at beginning of year | 851,471 | 914,353 | |
Service cost | 0 | 0 | $ 0 |
Interest cost | 19,199 | 15,993 | 23,389 |
Actuarial loss (gain) | (194,473) | (34,297) | |
Benefits paid | (48,022) | (44,578) | |
Other Adjustments | 0 | 0 | 0 |
Benefit obligation at end of year | 628,175 | 851,471 | 914,353 |
Change in fair value of plan assets: | |||
Fair value of plan assets at beginning of year | 860,484 | 878,785 | |
Actual return on plan assets | (192,807) | 26,049 | |
Employer contribution | 230 | 228 | |
Benefits paid | (48,022) | (44,578) | |
Fair value of plan assets at end of year | 619,885 | 860,484 | 878,785 |
OPEB Plan | |||
Change in benefit obligation: | |||
Benefit obligation at beginning of year | 159,958 | 179,210 | |
Service cost | 485 | 642 | 713 |
Interest cost | 3,931 | 3,573 | 4,913 |
Actuarial loss (gain) | (39,479) | (17,286) | |
Benefits paid | (6,619) | (6,181) | |
Other Adjustments | 60 | 0 | 0 |
Benefit obligation at end of year | 118,336 | 159,958 | 179,210 |
Change in fair value of plan assets: | |||
Fair value of plan assets at beginning of year | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Employer contribution | 6,619 | 6,181 | |
Benefits paid | (6,619) | (6,181) | |
Fair value of plan assets at end of year | $ 0 | $ 0 | $ 0 |
Employee benefits - Funded Stat
Employee benefits - Funded Status of the plan (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Funded status of the plan: | |||
Fair value of plan assets at end of year | $ 619,885 | $ 860,484 | |
Pension Plans | |||
Funded status of the plan: | |||
Benefit obligation at end of year | (628,175) | (851,471) | $ (914,353) |
Fair value of plan assets at end of year | 619,885 | 860,484 | 878,785 |
Funded status at year end | (8,290) | 9,013 | (35,568) |
OPEB Plan | |||
Funded status of the plan: | |||
Benefit obligation at end of year | (118,336) | (159,958) | (179,210) |
Fair value of plan assets at end of year | 0 | 0 | 0 |
Funded status at year end | $ (118,336) | $ (159,958) | $ (179,210) |
Employee benefits - Accumulated
Employee benefits - Accumulated other comprehensive losses (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pension Plans | |||
Amounts recognized in accumulated other comprehensive losss: | |||
Net loss | $ 243,434 | $ 225,356 | |
Accumulated other comprehensive loss | 243,434 | 225,356 | $ 265,899 |
OPEB Plan | |||
Amounts recognized in accumulated other comprehensive losss: | |||
Net loss | (26,486) | 12,993 | |
Accumulated other comprehensive loss | $ (26,486) | $ 12,993 | $ 32,152 |
Employee benefits - Reconciliat
Employee benefits - Reconciliation of net (liabilities) assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension Plans | |||
Reconciliation of net (liabilities) assets: | |||
Net (liabilities) assets at beginning of year | $ 9,013 | $ (35,568) | |
Accumulated other comprehensive loss at beginning of year | 225,356 | 265,899 | |
Amount prepaid (accrued) at beginning of year | 234,369 | 230,331 | |
Net periodic benefit cost | 545 | 3,810 | $ (6,165) |
Amount prepaid (accrued) at end of year | 235,144 | 234,369 | 230,331 |
Accumulated other comprehensive loss | (243,434) | (225,356) | (265,899) |
Net (liabilities) assets at end of year | (8,290) | 9,013 | (35,568) |
Contributions | 230 | 228 | |
OPEB Plan | |||
Reconciliation of net (liabilities) assets: | |||
Net (liabilities) assets at beginning of year | (159,958) | (179,210) | |
Accumulated other comprehensive loss at beginning of year | 12,993 | 32,152 | |
Amount prepaid (accrued) at beginning of year | (146,965) | (147,058) | |
Net periodic benefit cost | (4,416) | (6,088) | (6,193) |
Amount prepaid (accrued) at end of year | (144,822) | (146,965) | (147,058) |
Accumulated other comprehensive loss | 26,486 | (12,993) | (32,152) |
Net (liabilities) assets at end of year | (118,336) | (159,958) | $ (179,210) |
Contributions | $ 6,619 | $ 6,181 |
Employee benefits - Change in a
Employee benefits - Change in accumulated other comprehensive income loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated other comprehensive loss at beginning of year | $ 225,356 | $ 265,899 | |
Recognized during the year: | |||
Amortization of actuarial losses | (15,644) | (18,876) | $ (20,880) |
Ocurring during the year: | |||
Net actuarial (gains) / losses | 33,722 | (21,667) | |
Total (decrease) increase in AOCL | 18,078 | (40,543) | |
Accumulated other comprehensive loss at end of year | 243,434 | 225,356 | 265,899 |
OPEB Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated other comprehensive loss at beginning of year | 12,993 | 32,152 | |
Recognized during the year: | |||
Amortization of actuarial losses | 0 | (1,873) | (567) |
Ocurring during the year: | |||
Net actuarial (gains) / losses | (39,479) | (17,286) | |
Total (decrease) increase in AOCL | (39,479) | (19,159) | |
Accumulated other comprehensive loss at end of year | $ (26,486) | $ 12,993 | $ 32,152 |
Employee benefits - Discount ra
Employee benefits - Discount rate and assumed health care cost trend rates (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension Plans | Minimum | |||
Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31: | |||
Discount rate for benefit obligation | 2.79% | 2.41% | 3.22% |
Discount rate for interest cost | 2.30% | 1.76% | 2.81% |
Expected return on plan asset | 4.30% | 4.60% | 5% |
Weighted average assumptions used to determine benefit obligation at December 31: | |||
Discount rate for benefit obligation | 5.34% | 2.79% | |
Pension Plans | Maximum | |||
Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31: | |||
Discount rate for benefit obligation | 2.83% | 2.48% | 3.27% |
Discount rate for interest cost | 2.33% | 1.80% | 2.83% |
Expected return on plan asset | 5.40% | 5.50% | 5.80% |
Weighted average assumptions used to determine benefit obligation at December 31: | |||
Discount rate for benefit obligation | 5.37% | 2.83% | |
OPEB Plan | |||
Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31: | |||
Discount rate for benefit obligation | 2.94% | 2.65% | 3.38% |
Discount rate for service cost | 3.21% | 3.09% | 3.72% |
Discount rate for interest cost | 2.51% | 2.03% | 2.98% |
Initial health care cost trend rates | 4.75% | 5% | 5% |
Ultimate health care cost trend rate | 4.50% | 4.50% | 5% |
Year that the ultimate trend rate is reached | 2023 | 2023 | 2020 |
Weighted average assumptions used to determine benefit obligation at December 31: | |||
Discount rate for benefit obligation | 5.42% | 2.94% | |
Initial health care cost trend rates | 7.50% | 4.75% | |
Ultimate health care cost trend rate | 4.50% | 4.50% | |
Year that the ultimate trend rate is reached | 2035 | 2023 |
Employee benefits - Accumulat_2
Employee benefits - Accumulated benefit obligation in excess of plan assets (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Pension Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | $ 628,175 | $ 851,471 |
Accumulated benefit obligation | 628,175 | 851,471 |
Fair value of plan assets | 619,885 | 860,484 |
OPEB Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 118,336 | 159,958 |
Accumulated benefit obligation | 118,336 | 159,958 |
Fair value of plan assets | $ 0 | $ 0 |
Employee benefits - Contributio
Employee benefits - Contributions to the benefit plans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Pension Plans | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Employer contribution | $ 230 | $ 228 |
Expected employer contributions to the benefit plans during the next year | 228 | |
OPEB Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Employer contribution | 6,619 | $ 6,181 |
Expected employer contributions to the benefit plans during the next year | $ 5,924 |
Employee benefits - Projected b
Employee benefits - Projected benefit payments (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Pension Plans | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
2023 | $ 48,472 |
2024 | 45,590 |
2025 | 45,750 |
2026 | 45,847 |
2027 | 45,843 |
2028- 2032 | 225,107 |
OPEB Plan | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
2023 | 5,924 |
2024 | 6,149 |
2025 | 6,429 |
2026 | 6,754 |
2027 | 7,053 |
2028- 2032 | $ 38,873 |
Employee benefits - Breakdown o
Employee benefits - Breakdown of pension and OPEB plans assets and liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Pension Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Non-current assets | $ 0 | $ 17,792 |
Current liabilities | 222 | 227 |
Non-current liabilities | 8,068 | 8,552 |
OPEB Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Non-current assets | 0 | 0 |
Current liabilities | 5,779 | 5,959 |
Non-current liabilities | $ 112,557 | $ 153,999 |
Employee benefits - Additional
Employee benefits - Additional information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Level 3 | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Transfers in or out between levels | $ 0 | $ 0 | |
Level 1 and Level 2 | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Transfers in or out between levels | 0 | 0 | |
Savings Plans | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Savings Plans | 82,700,000 | 105,000,000 | |
Savings Plans Contributions | $ 18,700,000 | $ 13,300,000 | $ 14,000,000 |
Savings Plans Stocks Held | 1,246,519 | 1,279,982 |
Net income per common share - C
Net income per common share - Computation of net income (loss) per common share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings Per Share | |||
Net income | $ 1,102,641 | $ 934,889 | $ 506,622 |
Preferred stock dividends | (1,412) | (1,412) | (1,758) |
Net income applicable to common stock | $ 1,101,229 | $ 933,477 | $ 504,864 |
Average common shares outstanding | 75,147,263 | 81,263,027 | 85,882,371 |
Average potential dilutive common shares | 126,740 | 157,127 | 92,888 |
Average common shares outstanding - assuming dilution | 75,274,003 | 81,420,154 | 85,975,259 |
Basic EPS | $ 14.65 | $ 11.49 | $ 5.88 |
Diluted EPS | $ 14.63 | $ 11.46 | $ 5.87 |
Net income per common share - A
Net income per common share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||
Dec. 07, 2022 | Sep. 09, 2021 | May 03, 2021 | Aug. 24, 2022 | Jan. 30, 2020 | Mar. 02, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Mar. 31, 2022 | Jul. 12, 2022 | Dec. 31, 2022 | Feb. 28, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accelerate share repurchase | ||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||||||||||
Initial shares received as part of an accelerated share repurchase program | 3,785,831 | 7,055,919 | 3,483,942 | 3,483,942 | ||||||||||
Stock repurchase program authorized amount | $ 350 | $ 500 | $ 400 | |||||||||||
Additional common shares repurchased | 828,965 | 1,582,922 | 1,582,922 | |||||||||||
Accelerated share repurchases price paid per share | $ 75.8430 | $ 78.94 | $ 78.9443 | |||||||||||
Accelerated share repurchases settlement receipt | $ 631 | $ 400 | $ 631 | $ 350 | $ 500 | |||||||||
August ASR | ||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||||||||||
Initial shares received as part of an accelerated share repurchase program | 2,339,241 | 2,339,241 | ||||||||||||
Stock repurchase program authorized amount | $ 231 | |||||||||||||
Additional common shares repurchased | 840,024 | 840,024 | ||||||||||||
Accelerated share repurchases price paid per share | $ 72.6583 | $ 72.66 | ||||||||||||
Accelerated share repurchases settlement receipt | $ 231 | $ 231 |
Revenue from contracts with c_3
Revenue from contracts with customers - Revenue streams (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Service charges on deposit accounts | |||
Revenue from contract with customer | $ 157,210 | $ 162,698 | $ 147,823 |
BPPR | |||
Revenue from contract with customer | 419,377 | 405,970 | 342,733 |
BPPR | Service charges on deposit accounts | |||
Revenue from contract with customer | 146,073 | 151,453 | 136,703 |
BPPR | Debit card fees | |||
Revenue from contract with customer | 49,297 | 47,681 | 38,685 |
BPPR | Insurance fees, excluding reinsurance | |||
Revenue from contract with customer | 40,545 | 40,929 | 35,799 |
BPPR | Credit card fees excluding late fees and membership fees | |||
Revenue from contract with customer | 136,295 | 117,418 | 88,091 |
BPPR | Sale and administration of investment products | |||
Revenue from contract with customer | 23,553 | 23,634 | 21,755 |
BPPR | Trust fees | |||
Revenue from contract with customer | 23,614 | 24,855 | 21,700 |
Popular U.S. | |||
Revenue from contract with customer | 18,306 | 17,051 | 15,402 |
Popular U.S. | Service charges on deposit accounts | |||
Revenue from contract with customer | 11,137 | 11,245 | 11,120 |
Popular U.S. | Debit card fees | |||
Revenue from contract with customer | 876 | 956 | 967 |
Popular U.S. | Insurance fees, excluding reinsurance | |||
Revenue from contract with customer | 5,018 | 3,798 | 2,484 |
Popular U.S. | Credit card fees excluding late fees and membership fees | |||
Revenue from contract with customer | 1,275 | 1,052 | 831 |
Popular U.S. | Sale and administration of investment products | |||
Revenue from contract with customer | 0 | 0 | 0 |
Popular U.S. | Trust fees | |||
Revenue from contract with customer | $ 0 | $ 0 | $ 0 |
Revenue from contracts with c_4
Revenue from contracts with customers - Revenue streams - Parenthetical (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Intersegment Transaction | |||
Revenue From Contract With Customer Excluding Assessed Tax | $ 5 | $ 4.1 | $ 4.3 |
Leases - Future minimum payment
Leases - Future minimum payments (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Operating lease liabilities under Topic 842 | ||
Operating leases - 2023 | $ 29,836 | |
Operating leases - 2024 | 28,220 | |
Operating leases - 2025 | 25,301 | |
Operating leases - 2026 | 16,779 | |
Operating leases - 2027 | 11,633 | |
Operating leases - later years | 44,208 | |
Operating leases - Total | 155,977 | |
Less: Imputed interest | (18,687) | |
Operating lease liabilities | $ 137,290 | $ 154,114 |
Operating Lease Liability Statement Of Financial Position Extensible List | Other liabilities | Other liabilities |
Finance lease liabilities under Topic 842 | ||
Finance leases - 2023 | $ 4,328 | |
Finance leases - 2024 | 4,426 | |
Finance leases - 2025 | 4,537 | |
Finance leases - 2026 | 4,197 | |
Finance leases - 2027 | 2,263 | |
Finance leases - later years | 8,185 | |
Finance leases - Total | 27,936 | |
Less: imputed interest | (3,199) | |
Finance lease liabilities | $ 24,737 | $ 19,719 |
Finance Lease Liability Statement Of Financial Position Extensible List | Other liabilities | Other liabilities |
Leases - Lease cost (Details)
Leases - Lease cost (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lease Cost [Abstract] | |||
Amortization of ROU assets | $ 2,938 | $ 2,006 | $ 2,215 |
Interest on lease liabilities | 1,117 | 1,044 | 1,185 |
Operating lease cost | 30,534 | 29,970 | 31,674 |
Short-term lease cost | 505 | 647 | 214 |
Variable lease cost | 124 | 93 | 51 |
Sublease Income | (37) | (70) | (113) |
Net gain recognized from sale and lease back transaction | 0 | (7,007) | (5,550) |
Impairment of operating ROU assets | 0 | 0 | 14,805 |
Impairment of finance ROU assets | 0 | 0 | 1,115 |
Total lease cost | $ 35,181 | $ 26,683 | $ 45,596 |
Leases - Supplemental cash flow
Leases - Supplemental cash flow information and other related information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | |||
Operating cash flows from operating leases | $ 29,985 | $ 38,288 | $ 41,650 |
Operating cash flows from finance leases | 1,117 | 1,044 | 1,185 |
Financing cash flows from finance leases | 3,346 | 2,852 | 3,145 |
ROU assets obtained in exchange for new lease obligations - Operating leases | 14,564 | 24,136 | 14,975 |
ROU assets obtained in exchange for new lease obligations - Finance leases | $ 556 | $ 0 | $ 4,510 |
Weighted average remaining lease term - Operating leases | 7 years 6 months | 7 years 10 months 24 days | 8 years |
Weighted average remaining lease term - Finance leases | 8 years 2 months 12 days | 8 years 3 months 18 days | 8 years 10 months 24 days |
Weighted average discount rate - Operating leases | 3% | 2.70% | 3% |
Weighted average discount rate - Finance leases | 4.20% | 5% | 5% |
Leases - Supplemental cash fl_2
Leases - Supplemental cash flow information and other related information - Subnote (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | |
Operating Leased Assets [line items] | ||||
Operating lease liabilities | $ 137,290 | $ 154,114 | ||
ROU assets | $ 125,573 | $ 141,748 | ||
Branches closure | PB | ||||
Operating Leased Assets [line items] | ||||
Lease termination payment | $ 7,800 | |||
Corporate Office Buildings | ||||
Operating Leased Assets [line items] | ||||
Operating lease liabilities | $ 16,800 | |||
ROU assets | $ 16,800 |
Leases - Additional Information
Leases - Additional Information (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Leases [Abstract] | |
Undiscounted contract amount operating leases not yet commenced | $ 4.1 |
Undiscounted contract amount finance leases not yet commenced | $ 2.2 |
Minimum | |
Lessee Lease Description [Line Items] | |
Remaining lease term of contract | 1 month 6 days |
Operating lease contract not yet commenced | 10 years |
Finance lease contract not yet commenced | 10 years |
Maximum | |
Lessee Lease Description [Line Items] | |
Remaining lease term of contract | 32 years |
Lessee remaining lease renewal term | 20 years |
Operating lease contract not yet commenced | 20 years |
Finance lease contract not yet commenced | 20 years |
Stock-based compensation - Summ
Stock-based compensation - Summary of incentive plan for members of management (Details) - Performance Based Shares - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Restricted Stock | |||
Non-vested at beginning of period | 321,883 | 358,512 | 345,365 |
Granted | 194,791 | 191,479 | 253,943 |
Performance Shares Quantity Adjustment | 6,947 | 54,306 | (7) |
Vested | (240,033) | (273,974) | (234,421) |
Forfeited | (1,625) | (8,440) | (6,368) |
Non-vested at end of period | 281,963 | 321,883 | 358,512 |
Weighted-Average Grant Date Fair Value | |||
Non-vested at beginning of period | $ 47.98 | $ 41.23 | $ 41.68 |
Granted | 84.29 | 69.38 | 42.49 |
Performance Shares Quantity Adjustment | 78.02 | 54.21 | 48.79 |
Vested | 66.11 | 55.11 | 42.64 |
Forfeited | 78.86 | 43.48 | 44.26 |
Non-vested at end of period | $ 56.50 | $ 47.98 | $ 41.23 |
Stock-based compensation - Su_2
Stock-based compensation - Summary of incentive plan for members of the Board of Directors (Details) - Restricted Stock Units (RSUs) - Directors - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Roll Forward | |||
Non-vested at beginning of period | 0 | 0 | 0 |
Granted | 25,321 | 20,638 | 43,866 |
Vested | (25,321) | (20,638) | (43,866) |
Forfeited | 0 | 0 | 0 |
Non-vested at end of period | 0 | 0 | 0 |
Weighted-Average Grant Date Fair Value | |||
Non-vested at beginning of period | $ 0 | $ 0 | $ 0 |
Granted | 77.48 | 78.20 | 35.47 |
Vested | 77.48 | 78.20 | 35.47 |
Forfeited | 0 | 0 | 0 |
Non-vested at end of period | $ 0 | $ 0 | $ 0 |
Stock-based compensation - Addi
Stock-based compensation - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Employee Stock Option | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Total unrecognized compensation cost related to non-vested restricted stock awards and performance shares to members of management | $ 10.1 | ||
Total unrecognized compensation cost related to non-vested restricted stock awards and performance shares to members of management, period of recognition (in years) | 1 year 10 months 9 days | ||
Restricted Stock Units (RSUs) | Executive Officers | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Stock granted | 137,934 | 120,105 | 213,511 |
Restricted Stock Expense | $ 10.3 | $ 8.6 | $ 7.6 |
Incentive award, tax benefit | 1.8 | $ 1.6 | $ 1.3 |
Fair Market Value of stock vested at vesting date | $ 20.7 | ||
Stock-Based Compensation, vesting rights | the compensation cost associated with the shares of restricted stock granted prior to 2021 was determined based on a two-prong vesting schedule. The first part is vested ratably over five or four years commencing at the date of grant (the “graduated vesting portion”) and the second part is vested at termination of employment after attaining 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 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 will vest ratably in equal annual installments over a period of 4 years or 3 years, depending in 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. | ||
Windfall Net Of Shortfall | $ 3.1 | ||
Restricted Stock Units (RSUs) | Executive Officers | Share Vesting On Grant Date | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Fair value of stocks vested at grant date | $ 12.2 | ||
Restricted Stock Units (RSUs) | Directors | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Stock granted | 25,321 | 20,638 | 43,866 |
Restricted Stock Expense | $ 2 | $ 1.9 | $ 1.6 |
Incentive award, tax benefit | 0.4 | $ 0.4 | $ 0.3 |
Fair value of stocks vested at grant date | $ 2 | ||
Performance Based Shares | Minimum | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Vested and expected to vest range based on shareholder return | 50% | ||
Performance Based Shares | Maximum | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Vested and expected to vest range based on shareholder return | 150% | ||
Performance Based Shares | Executive Officers | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Stock granted | 56,857 | 71,374 | 40,432 |
Restricted Stock Expense | $ 4.8 | $ 5.8 | $ 2.3 |
Incentive award, tax benefit | $ 0.4 | $ 0.5 | $ 0.2 |
Stock-Based Compensation, vesting rights | The number of shares that will ultimately vest ranges from 50% to a 150% of target based on both market (TSR) and performance (ROA and 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. |
Income taxes - Components of in
Income taxes - Components of income tax expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current income tax expense | |||
Puerto Rico | $ 156,425 | $ 69,415 | $ 33,281 |
Federal and States | 9,034 | 10,232 | 3,613 |
Subtotal current income tax expense | 165,459 | 79,647 | 36,894 |
Deferred income tax expense (benefit) | |||
Puerto Rico | (4,373) | 179,688 | 69,300 |
Federal and States | (28,756) | 49,683 | 5,744 |
Subtotal deferred income tax expense (benefit) | (33,129) | 229,371 | 75,044 |
Income tax expense | $ 132,330 | $ 309,018 | $ 111,938 |
Income taxes - Differences betw
Income taxes - Differences between income tax expense (benefit) in Puerto Rico (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount | |||
Income tax expense | $ 132,330 | $ 309,018 | $ 111,938 |
PR | |||
Amount | |||
Computed income tax at statutory rates | 463,114 | 466,465 | 231,960 |
Benefit of net tax exempt interest income | (165,065) | (139,426) | (126,232) |
Effect of income subject to preferential tax rate | (86,797) | (11,981) | (10,141) |
Deferred tax asset valuation allowance | (21,469) | 20,932 | 15,276 |
NOL Adjustments | (34,817) | 0 | 0 |
Difference in tax rates due to multiple jurisdictions | (26,887) | (30,719) | (1,903) |
Unrecognized tax benefits | (1,503) | (5,484) | (2,163) |
State and local taxes | 14,981 | 14,629 | 4,350 |
Other | (9,227) | (5,398) | 791 |
Income tax expense | $ 132,330 | $ 309,018 | $ 111,938 |
% of pre-tax income | |||
Computed income tax at statutory rates | 38% | 38% | 38% |
Benefit of net tax exempt interest income | (13.00%) | (12.00%) | (20.00%) |
Effect of income subject to preferential tax rate | (7.00%) | (1.00%) | (2.00%) |
Deferred tax asset valuation allowance | (2.00%) | 2% | 2% |
NOL Adjustments | (3.00%) | 0% | 0% |
Difference in tax rates due to multiple jurisdictions | (2.00%) | (3.00%) | 0% |
Unrecognized tax benefits | 0% | 0% | 0% |
State and local taxes | 1% | 1% | 0% |
Others | (1.00%) | 0% | 0% |
Income tax expense | 11% | 25% | 18% |
Income taxes - Components of de
Income taxes - Components of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred tax assets: | ||
Tax credits available for carryforward | $ 3,042 | $ 3,042 |
Net operating loss and other carryforward available | 782,886 | 777,495 |
Postretirement and pension benefits | 47,122 | 57,002 |
Deferred loan origination fees/cost | 2,788 | |
Allowance for credit losses | 283,303 | 265,372 |
Deferred gains | 1,642 | |
Accelerated depreciation | 12,281 | 12,668 |
FDIC-assisted transaction | 152,665 | 152,665 |
Intercompany deferred gains | 1,548 | |
Lease liability | 51,811 | 55,105 |
Unrealized net loss on investment securities | 289,868 | |
Difference in outside basis from pass-through entities | 40,602 | 54,781 |
Other temporary differences | 37,100 | 46,930 |
Total gross deferred tax assets | 1,702,228 | 1,429,490 |
Deferred tax liabilities: | ||
Intangibles | 135,797 | 127,785 |
Unrealized net gain on investment securities | 7,146 | |
Right of use assets | 46,277 | 49,307 |
Deferred loan origination fees/cost | 4,037 | 3,567 |
Other temporary differences | 24,884 | 45,386 |
Total gross deferred tax liabilities | 210,995 | 233,191 |
Valuation allowance | 540,196 | 539,527 |
Net deferred tax asset | 951,037 | 656,772 |
PR | ||
Deferred tax assets: | ||
Tax credits available for carryforward | 261 | 261 |
Net operating loss and other carryforward available | 121,742 | 112,331 |
Postretirement and pension benefits | 47,122 | 57,002 |
Deferred loan origination fees/cost | 2,788 | |
Allowance for credit losses | 250,615 | 233,500 |
Deferred gains | 1,642 | |
Accelerated depreciation | 5,972 | 5,246 |
FDIC-assisted transaction | 152,665 | 152,665 |
Intercompany deferred gains | 1,548 | |
Lease liability | 28,290 | 31,211 |
Unrealized net loss on investment securities | 265,955 | |
Difference in outside basis from pass-through entities | 40,602 | 54,781 |
Other temporary differences | 29,285 | 38,512 |
Total gross deferred tax assets | 944,057 | 689,939 |
Deferred tax liabilities: | ||
Intangibles | 81,174 | 76,635 |
Unrealized net gain on investment securities | 4,329 | |
Right of use assets | 26,015 | 29,025 |
Deferred loan origination fees/cost | 1,076 | 0 |
Other temporary differences | 24,884 | 43,856 |
Total gross deferred tax liabilities | 133,149 | 153,845 |
Valuation allowance | 137,863 | 128,557 |
Net deferred tax asset | 673,045 | 407,537 |
US | ||
Deferred tax assets: | ||
Tax credits available for carryforward | 2,781 | 2,781 |
Net operating loss and other carryforward available | 661,144 | 665,164 |
Postretirement and pension benefits | 0 | 0 |
Deferred loan origination fees/cost | 0 | |
Allowance for credit losses | 32,688 | 31,872 |
Deferred gains | 0 | |
Accelerated depreciation | 6,309 | 7,422 |
FDIC-assisted transaction | 0 | 0 |
Intercompany deferred gains | 0 | |
Lease liability | 23,521 | 23,894 |
Unrealized net loss on investment securities | 23,913 | |
Difference in outside basis from pass-through entities | 0 | 0 |
Other temporary differences | 7,815 | 8,418 |
Total gross deferred tax assets | 758,171 | 739,551 |
Deferred tax liabilities: | ||
Intangibles | 54,623 | 51,150 |
Unrealized net gain on investment securities | 2,817 | |
Right of use assets | 20,262 | 20,282 |
Deferred loan origination fees/cost | 2,961 | 3,567 |
Other temporary differences | 0 | 1,530 |
Total gross deferred tax liabilities | 77,846 | 79,346 |
Valuation allowance | 402,333 | 410,970 |
Net deferred tax asset | $ 277,992 | $ 249,235 |
Income taxes - Net operating lo
Income taxes - Net operating loss carryfowards (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | $ 782,886 |
Tax Year 2023 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 1,363 |
Tax Year 2024 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 9,310 |
Tax Year 2025 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 13,516 |
Tax Year 2026 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 13,367 |
Tax Year 2027 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 15,202 |
Tax Year 2028 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 260,622 |
Tax Year 2029 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 111,307 |
Tax Year 2030 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 121,017 |
Tax Year 2031 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 122,324 |
Tax Year 2032 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 55,335 |
Tax Year 2033 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 10,565 |
Tax Year 2034 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 5,666 |
Tax Year 2035 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | 43,121 |
Tax Year 2036 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss and other carryforward available | $ 171 |
Income taxes - Reconciliation o
Income taxes - Reconciliation of unrecognized tax benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax Disclosure | ||
Beginning Balance | $ 3.5 | $ 14.8 |
Reduction as a result of lapse of statute of limitations | (1) | (11.3) |
Ending Balance | $ 2.5 | $ 3.5 |
Income taxes - Additional Infor
Income taxes - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Taxes | ||||
Valuation allowance | $ 540,196 | $ 540,196 | $ 539,527 | |
Net deferred tax assets (net of valuation allowance) | 953,676 | 953,676 | 657,597 | |
Net deferred tax asset | 951,037 | 951,037 | 656,772 | |
Unrecognized tax benefits, accrued interest | 2,600 | 2,600 | 2,800 | |
Recognized Tax Benefits Current Interest On Income Taxes Accrued | 268 | 892 | ||
Total amount of unrecognized tax benefits, that if recognized, would affect effective tax rate | 4,300 | 4,300 | 5,500 | |
Unrecognized Tax Benefits Expected Decreases Resulting From Settlements With Taxing Authorities | 1,500 | 1,500 | ||
Income tax expense | 132,330 | 309,018 | $ 111,938 | |
Interest Expense Reduction Due To Expiration Of The Statue Of Limitations | 448 | 2,900 | ||
Reduction as a result of lapse of statute of limitations | 1,000 | 11,300 | ||
Net operating loss and other carryforward available | 782,886 | 782,886 | ||
Other liabilities | ||||
Income Taxes | ||||
Net deferred tax liabilities | 2,600 | 2,600 | 825 | |
PR | ||||
Income Taxes | ||||
Valuation allowance | 137,863 | 137,863 | 128,557 | |
Net deferred tax asset | $ 673,045 | $ 673,045 | 407,537 | |
Dividends Received Deduction From Controlled Subsidiary Percentage | 100% | 100% | ||
Dividends Received Deductions From Other Taxable Domestic Corporations Percentage | 85% | 85% | ||
Income tax expense | $ 132,330 | 309,018 | $ 111,938 | |
US | ||||
Income Taxes | ||||
Valuation allowance | $ 402,333 | 402,333 | 410,970 | |
Net deferred tax asset | 277,992 | 277,992 | $ 249,235 | |
Deferred Tax Assets | 680,300 | 680,300 | ||
Valuation allowance deferred tax asset | 68,200 | 68,200 | ||
US | Federal taxes | ||||
Income Taxes | ||||
Net operating loss and other carryforward available | 525,000 | 525,000 | ||
US | State taxes | ||||
Income Taxes | ||||
Net operating loss and other carryforward available | $ 135,000 | $ 135,000 |
Supplemental disclosure on th_3
Supplemental disclosure on the consolidated statments of cash flows - Non-cash activities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Supplemental Cash Flow Information | |||
Income taxes paid | $ 178,808 | $ 64,997 | $ 13,045 |
Interest Paid | 292,491 | 170,442 | 240,342 |
Non-cash activities: | |||
Loans transferred to other real estate | 64,953 | 57,638 | 14,464 |
Loans transferred to other property | 51,642 | 45,144 | 48,614 |
Total loans transferred to foreclosed assets | 116,595 | 102,782 | 63,078 |
Loans transfered to other assets | 8,664 | 7,219 | 7,117 |
Financed sales of other real estate assets | 8,535 | 13,014 | 15,606 |
Financed sales of other foreclosed assets | 38,467 | 43,060 | 34,492 |
Total financed sales of foreclosed assets | 47,002 | 56,074 | 50,098 |
Financed sale of premises and equipment | 47,697 | 31,085 | 31,350 |
Transfers from premises and equipment to long-lived assets held-for-sale | 1,739 | 32,103 | 0 |
Transfers from loans held-in-portfolio to loans held-for-sale | 11,531 | 69,890 | 82,299 |
Transfers from loans held-for-sale to loans held-in-portfolio | 26,425 | 9,762 | 20,153 |
Transfers from available-for-sale to held-to-maturity debt securities | 6,531,092 | 0 | 0 |
Loans securitized into investment securities | 300,279 | 732,533 | 508,071 |
Trades receivables from brokers and counterparties | 9,461 | 64,824 | 64,092 |
Trades payable to brokers and counterparties | 9,461 | 13,789 | 720,212 |
Receivables from investments maturities | 125,000 | 0 | 0 |
Recognition of mortgage servicing rights on securitizations or asset transfers | 6,614 | 13,391 | 9,544 |
Loans booked under the GNMA buy-back option | 9,799 | 19,798 | 24,244 |
Capitalization of right of use asset | 17,932 | 35,683 | 29,692 |
Acquisition of software intangible assets | 28,650 | 0 | 0 |
Goodwill on acquisition | 116,135 | 0 | 0 |
Total stock consideration related to Evertec transaction | $ 144,785 | $ 0 | $ 0 |
Supplemental disclosure on th_4
Supplemental disclosure on the consolidated statments of cash flows - Cash and due from banks, and restricted cash (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Supplemental Cash Flow Information | ||||
Cash and due from banks | $ 423,233 | $ 411,346 | $ 484,859 | |
Restricted cash and due from banks | 46,268 | 17,087 | 6,206 | |
Restricted cash in money market investments | 6,658 | 6,079 | 6,029 | |
Total cash and due from banks, and restricted cash | $ 476,159 | $ 434,512 | $ 497,094 | $ 394,323 |
Segment reporting - Results of
Segment reporting - Results of Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | $ 2,167,359 | $ 1,957,590 | $ 1,856,613 |
Provision for credit losses (benefit) | 83,030 | (193,464) | 292,536 |
Non-interest Income | 897,062 | 642,128 | 512,312 |
Amortization of intangibles | 3,275 | 9,134 | 6,397 |
Goodwill impairment charge | 9,000 | 0 | 0 |
Depreciation expense | 55,107 | 55,104 | 58,452 |
Other operating expenses | 1,679,038 | 1,485,037 | 1,392,980 |
Income tax expense (benefit) | 132,330 | 309,018 | 111,938 |
Net income (loss) | 1,102,641 | 934,889 | 506,622 |
Segment assets | 67,637,917 | 75,097,899 | 65,926,000 |
Reportable Segment | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 2,196,508 | 1,995,749 | 1,896,127 |
Provision for credit losses (benefit) | 82,756 | (193,249) | 292,441 |
Non-interest Income | 711,687 | 589,280 | 469,625 |
Amortization of intangibles | 3,275 | 3,478 | 6,299 |
Goodwill impairment charge | 9,000 | ||
Depreciation expense | 53,922 | 53,954 | 57,448 |
Other operating expenses | 1,683,780 | 1,489,307 | 1,397,678 |
Income tax expense (benefit) | 123,146 | 310,017 | 113,622 |
Net income (loss) | 952,316 | 921,522 | 498,264 |
Segment assets | 67,326,759 | 74,704,219 | 65,575,645 |
Intersegment Elimination | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 3 | 6 | 11 |
Provision for credit losses (benefit) | 0 | 0 | 0 |
Non-interest Income | (547) | (548) | (553) |
Amortization of intangibles | 0 | 0 | 0 |
Goodwill impairment charge | 0 | ||
Depreciation expense | 0 | 0 | 0 |
Other operating expenses | (543) | (544) | (544) |
Income tax expense (benefit) | 0 | 0 | 0 |
Net income (loss) | (1) | 2 | 2 |
Segment assets | (421,781) | (31,528) | (33,935) |
Corporate | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | (29,149) | (38,159) | (39,514) |
Provision for credit losses (benefit) | 274 | (215) | 95 |
Non-interest Income | 189,835 | 56,535 | 46,442 |
Amortization of intangibles | 0 | 5,656 | 98 |
Goodwill impairment charge | 0 | ||
Depreciation expense | 1,185 | 1,150 | 1,004 |
Other operating expenses | 80 | (545) | (1,212) |
Income tax expense (benefit) | 9,074 | (1,085) | (1,560) |
Net income (loss) | 150,073 | 13,415 | 8,503 |
Segment assets | 5,390,122 | 5,458,718 | 5,214,439 |
Eliminations | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 0 | 0 | 0 |
Provision for credit losses (benefit) | 0 | 0 | 0 |
Non-interest Income | (4,460) | (3,687) | (3,755) |
Amortization of intangibles | 0 | 0 | 0 |
Goodwill impairment charge | 0 | ||
Depreciation expense | 0 | 0 | 0 |
Other operating expenses | (4,822) | (3,725) | (3,486) |
Income tax expense (benefit) | 110 | 86 | (124) |
Net income (loss) | 252 | (48) | (145) |
Segment assets | (5,078,964) | (5,065,038) | (4,864,084) |
Banco Popular de Puerto Rico | |||
Segment Reporting Information [Line Items] | |||
Goodwill impairment charge | 0 | 0 | |
Banco Popular de Puerto Rico | Reportable Segment | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 1,823,517 | 1,674,589 | 1,593,599 |
Provision for credit losses (benefit) | 70,304 | (136,352) | 210,955 |
Non-interest Income | 680,276 | 565,310 | 445,893 |
Amortization of intangibles | 1,937 | 2,813 | 5,634 |
Goodwill impairment charge | 0 | ||
Depreciation expense | 47,003 | 46,539 | 47,890 |
Other operating expenses | 1,454,187 | 1,285,959 | 1,169,816 |
Income tax expense (benefit) | 148,351 | 253,479 | 106,211 |
Net income (loss) | 782,011 | 787,461 | 498,986 |
Segment assets | 56,190,260 | 64,336,681 | 55,353,626 |
PB | |||
Segment Reporting Information [Line Items] | |||
Goodwill impairment charge | 9,000 | 0 | |
PB | Reportable Segment | |||
Segment Reporting Information [Line Items] | |||
Net Interest income (expense) | 372,988 | 321,154 | 302,517 |
Provision for credit losses (benefit) | 12,452 | (56,897) | 81,486 |
Non-interest Income | 31,958 | 24,518 | 24,285 |
Amortization of intangibles | 1,338 | 665 | 665 |
Goodwill impairment charge | 9,000 | ||
Depreciation expense | 6,919 | 7,415 | 9,558 |
Other operating expenses | 230,136 | 203,892 | 228,406 |
Income tax expense (benefit) | (25,205) | 56,538 | 7,411 |
Net income (loss) | 170,306 | 134,059 | (724) |
Segment assets | $ 11,558,280 | $ 10,399,066 | $ 10,255,954 |
Segment reporting - Geographic
Segment reporting - Geographic information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||
Net Revenue | $ 3,064,421 | $ 2,599,718 | $ 2,368,925 |
PR | |||
Segment Reporting Information [Line Items] | |||
Net Revenue | 2,505,988 | 2,136,481 | 1,921,207 |
US | |||
Segment Reporting Information [Line Items] | |||
Net Revenue | 480,545 | 390,201 | 376,529 |
Other | |||
Segment Reporting Information [Line Items] | |||
Net Revenue | $ 77,888 | $ 73,036 | $ 71,189 |
Segment reporting - Selected Ba
Segment reporting - Selected Balance Sheet information (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Segment Reporting Information [Line Items] | |||
Assets | $ 67,637,917 | $ 75,097,899 | $ 65,926,000 |
Deposits | 61,227,227 | 67,005,088 | |
Puerto Rico | |||
Segment Reporting Information [Line Items] | |||
Assets | 53,541,427 | 63,221,282 | 54,143,954 |
Loans | 20,884,442 | 19,770,118 | 20,413,112 |
Deposits | 51,138,790 | 57,211,608 | 47,586,880 |
Popular U.S. | |||
Segment Reporting Information [Line Items] | |||
Assets | 12,718,775 | 10,986,055 | 10,878,030 |
Loans | 10,643,964 | 8,903,493 | 8,396,983 |
Deposits | 8,182,702 | 7,777,232 | 7,672,549 |
Other | |||
Segment Reporting Information [Line Items] | |||
Assets | 1,377,715 | 890,562 | 904,016 |
Loans | 554,744 | 626,115 | 674,556 |
Deposits | $ 1,905,735 | $ 2,016,248 | $ 1,606,911 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) units | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Segment Reporting Information [Line Items] | |||
Number Of Operating Segments | units | 2 | ||
Factors Used To Identify Entitys 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. | ||
Net Revenue | $ 3,064,421 | $ 2,599,718 | $ 2,368,925 |
Assets | 67,637,917 | 75,097,899 | 65,926,000 |
US | |||
Segment Reporting Information [Line Items] | |||
Net Revenue | 480,545 | 390,201 | 376,529 |
Assets | 12,718,775 | 10,986,055 | 10,878,030 |
Other | |||
Segment Reporting Information [Line Items] | |||
Net Revenue | 77,888 | 73,036 | 71,189 |
Assets | 1,377,715 | 890,562 | 904,016 |
Banco Popular de Puerto Rico | |||
Segment Reporting Information [Line Items] | |||
Bank loan origination | 184,000 | 35,000 | |
Banco Popular de Puerto Rico | US | |||
Segment Reporting Information [Line Items] | |||
Net Revenue | 67,800 | 50,600 | 55,300 |
Assets | 1,200 | 589,000 | |
Banco Popular de Puerto Rico | Other | |||
Segment Reporting Information [Line Items] | |||
Net Revenue | $ 46,600 | $ 45,400 | $ 44,200 |
Popular, Inc. (Holding compan_2
Popular, Inc. (Holding company only) financial information (Statement of Condition) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||||
Cash and due from banks (includes $101,753 due from bank subsidiary (2021 - $79,660)) | $ 469,501 | $ 428,433 | ||
Money market investments | 5,614,595 | 17,536,719 | ||
Debt securities held-to-maturity, at amortized cost (includes $3,125 in common securities from statutory trusts (2021 - $3,125)) | 9,356,739 | 79,461 | ||
Equity securities, at lower of cost or realizable value | 195,854 | 189,977 | ||
Less - Allowance for credit losses | 720,302 | 695,366 | $ 896,250 | |
Premises and equipment | 498,711 | 494,240 | ||
Investments in equity method investees | 210,001 | 298,988 | ||
Assets | 67,637,917 | 75,097,899 | 65,926,000 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Notes payable | 886,710 | 988,563 | ||
Other liabilities (includes $2,764 due to subsidiaries and affiliate (2021 - $6,591)) | 65,222 | 70,967 | ||
Stockholders' equity | 4,093,425 | 5,969,397 | $ 6,028,687 | $ 6,016,779 |
Liabilities and stockholders equity | 67,637,917 | 75,097,899 | ||
Popular, Inc. Holding Co. | ||||
ASSETS | ||||
Cash and due from banks (includes $101,753 due from bank subsidiary (2021 - $79,660)) | 101,753 | 79,660 | ||
Money market investments | 77,180 | 205,646 | ||
Debt securities held-to-maturity, at amortized cost (includes $3,125 in common securities from statutory trusts (2021 - $3,125)) | 3,125 | 3,125 | ||
Equity securities, at lower of cost or realizable value | 18,835 | 19,711 | ||
Other loans | 28,196 | 29,445 | ||
Less - Allowance for credit losses | 370 | 96 | ||
Premises and equipment | 6,411 | 5,684 | ||
Investments in equity method investees | 5,350 | 114,955 | ||
Other assets (includes $6,115 due from subsidiaries and affiliate (2021 - $6,802)) | 34,841 | 32,810 | ||
Assets | 4,610,499 | 6,473,308 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Notes payable | 403,257 | 401,990 | ||
Other liabilities (includes $2,764 due to subsidiaries and affiliate (2021 - $6,591)) | 113,772 | 101,923 | ||
Stockholders' equity | 4,093,470 | 5,969,395 | ||
Liabilities and stockholders equity | 4,610,499 | 6,473,308 | ||
Popular, Inc. Holding Co. | BPPR and subsidiaries | ||||
ASSETS | ||||
Investment in BPPR / Popular North America and subsidiaries and other non-bank subsidiaries, at equity | 2,120,503 | 3,858,701 | ||
Popular, Inc. Holding Co. | Popular North America and subsidiaries | ||||
ASSETS | ||||
Investment in BPPR / Popular North America and subsidiaries and other non-bank subsidiaries, at equity | 1,879,123 | 1,834,931 | ||
Popular, Inc. Holding Co. | Other non-bank subsidiaries | ||||
ASSETS | ||||
Investment in BPPR / Popular North America and subsidiaries and other non-bank subsidiaries, at equity | $ 335,552 | $ 288,736 |
Popular, Inc. (Holding compan_3
Popular, Inc. (Holding company only) financial information (Statement of Condition) (Parenthetical) (Details) - Popular, Inc. Holding Co. - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Assets: | ||
Cash and due from bank subsidiary | $ 101,753 | $ 79,660 |
Common securities from statutory trusts | 3,125 | 3,125 |
Other assets due from subsidiaries and affiliate | 6,115 | 6,802 |
Other liabilities due to subsidiaries and affiliate | $ 2,764 | $ 6,591 |
Popular, Inc. (Holding compan_4
Popular, Inc. (Holding company only) financial information (Statement of Operations) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income: | |||
Net (loss) gain, including impairment on equity securities | $ (7,334) | $ 131 | $ 6,279 |
Expenses | |||
Interest expense | 298,552 | 165,047 | 234,938 |
Provision for credit losses (benefit) | 83,030 | (193,464) | 292,536 |
Income before income taxes and equity in undistributed (losses) earnings of subsidiaries | 1,234,971 | 1,243,907 | 618,560 |
Income tax expense | 132,330 | 309,018 | 111,938 |
Net income | 1,102,641 | 934,889 | 506,622 |
Comprehensive (loss) income, net of tax | (1,097,218) | 419,829 | 866,551 |
Popular, Inc. Holding Co. | |||
Income: | |||
Dividends from subsidiaries | 458,000 | 792,000 | 586,000 |
Interest income (includes $680 due from subsidiaries and affiliates (2021 - $828; 2020 - $2,290)) | 2,846 | 4,303 | 4,949 |
Earnings from investments in equity method investees | 15,688 | 29,387 | 17,841 |
Other operating income | 139,191 | 0 | 1 |
Net (loss) gain, including impairment on equity securities | (4,446) | (525) | 1,494 |
Total income | 611,279 | 825,165 | 610,285 |
Expenses | |||
Interest expense | 26,021 | 36,444 | 38,528 |
Provision for credit losses (benefit) | 274 | (215) | 95 |
Operating expense (income) (includes expenses for services provided by subsidiaries and affiliate of $18,414 (2021 - $13,546 ; 2020 - $13,140)), net of reimbursement by subsidiaries for services provided by parent of $222,935 (2021 - $162,019 ; 2020 - $138,729) | 223 | 5,432 | (921) |
Total expense | 26,517 | 41,661 | 37,702 |
Income before income taxes and equity in undistributed (losses) earnings of subsidiaries | 584,762 | 783,504 | 572,583 |
Income tax expense | 8,723 | 352 | 17 |
Income before equity in undistributed earnings (losses) of subsidiaries | 576,038 | 783,152 | 572,566 |
Equity in undistributed earnings (losses) of subsidiaries | 526,603 | 151,737 | (65,944) |
Net income | 1,102,641 | 934,889 | 506,622 |
Comprehensive (loss) income, net of tax | $ (1,097,218) | $ 419,829 | $ 866,551 |
Popular, Inc. (Holding compan_5
Popular, Inc. (Holding company only) financial information (Statement of Operations) (Parenthetical) (Details) - Popular, Inc. Holding Co. - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues | |||
Interest income from subsidiaries and affiliate | $ 680 | $ 828 | $ 2,290 |
Expenses | |||
Operating expenses for services by subsidiaries and affiliates | 18,414 | 13,546 | 13,140 |
Expense reimbursement by subsidiaries for services provided by parent | $ 222,935 | $ 162,019 | $ 138,729 |
Popular, Inc. (Holding compan_6
Popular, Inc. (Holding company only) financial information (Statement of Cash Flows) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income | $ 1,102,641 | $ 934,889 | $ 506,622 |
Net (decrease) increase in: | |||
Provision for credit losses (benefit) | 83,030 | (193,464) | 292,536 |
Amortization of intangibles | 3,275 | 9,134 | 6,397 |
Net accretion of discounts and amortization of premiums and deferred fees | 29,120 | (21,962) | (63,300) |
Share-based compensation | 16,727 | 17,774 | 8,254 |
Earnings from investments under the equity method, net of dividends or distributions | (29,522) | (50,942) | (27,738) |
Disposition of stock as part of the Evertec Transactions | (240,412) | 0 | 0 |
Sale of foreclosed assets, including write-downs | (33,008) | (30,098) | (19,958) |
Net (increase) decrease in: | |||
Equity securities | (54) | 2,336 | 8,263 |
Interest payable | 6,061 | (5,395) | (5,404) |
Other liabilities | (20,724) | 22,802 | (106,736) |
Total adjustments | (88,103) | 70,269 | 172,150 |
Net cash provided by operating activities | 1,014,538 | 1,005,158 | 678,772 |
Cash flows from investing activities: | |||
Net decrease (increase) in money market investments | 11,922,703 | (5,895,789) | (8,378,577) |
Proceeds from calls, paydowns, maturities and redemptions of investment securities held-to-maturity | 9,826 | 15,700 | 6,733 |
Return of capital from equity method investments | 681 | 6,362 | 959 |
Acquisition of premises and equipment | 103,789 | 72,781 | 60,073 |
Proceeds from sale of premises and equipment | 10,305 | 21,482 | 26,548 |
Proceeds from sale of foreclosed assets | 107,203 | 86,942 | 77,521 |
Net cash provided by (used in) investing activities | 5,350,200 | (10,518,650) | (13,068,146) |
Cash flows from financing activities: | |||
Repayments Of Notes Payable | 103,147 | 237,713 | 139,920 |
Proceeds from issuance of common stock | 5,837 | 4,674 | 9,093 |
Payments for repurchase of redeemable preferred stock | 0 | 0 | (28,017) |
Dividends paid | (161,516) | (141,466) | (133,645) |
Net payments for repurchase of common stock | (631,893) | (350,535) | (500,479) |
Payments related to tax witholding for share-based compensation | 5,771 | 5,115 | 3,693 |
Net cash used in financing activities | (6,323,091) | 9,450,910 | 12,492,145 |
Net increase in cash and due from banks, and restricted cash | 41,647 | (62,582) | 102,771 |
Cash and due from banks and restricted cash at beginning of period | 434,512 | 497,094 | 394,323 |
Cash and due from banks and restricted cash at end of period | 476,159 | 434,512 | 497,094 |
Popular, Inc. Holding Co. | |||
Cash flows from operating activities: | |||
Net income | 1,102,641 | 934,889 | 506,622 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Equity in (earnings) losses of subsidiaries, net of dividends or distributions | (526,603) | (151,737) | 65,944 |
Net (decrease) increase in: | |||
Provision for credit losses (benefit) | 274 | (215) | 95 |
Amortization of intangibles | 0 | 5,656 | 98 |
Net accretion of discounts and amortization of premiums and deferred fees | 1,250 | 1,241 | 1,233 |
Share-based compensation | 9,440 | 8,895 | 5,770 |
Earnings from investments under the equity method, net of dividends or distributions | (14,170) | (26,360) | (15,510) |
Disposition of stock as part of the Evertec Transactions | (137,813) | 0 | 0 |
Sale of foreclosed assets, including write-downs | 0 | 59 | 0 |
Net (increase) decrease in: | |||
Equity securities | (339) | (3,662) | (5,305) |
Other assets | (1,952) | (1,970) | (8,327) |
Interest payable | 0 | (1,042) | 0 |
Other liabilities | 8,257 | 19,095 | 2,470 |
Total adjustments | (661,656) | (150,040) | 46,468 |
Net cash provided by operating activities | 440,985 | 784,849 | 553,090 |
Cash flows from investing activities: | |||
Net decrease (increase) in money market investments | 129,000 | (94,000) | 110,000 |
Proceeds from calls, paydowns, maturities and redemptions of investment securities held-to-maturity | 0 | 5,601 | 0 |
Net repayments on other loans | 1,267 | 1,879 | 587 |
Capital contribution to subsidiaries | (54,188) | (12,900) | (10,000) |
Return of capital from wholly owned subsidiaries | 72,000 | 0 | 12,500 |
Return of capital from equity method investments | 0 | 0 | 131 |
Proceeds from Everte Stock Sale | 219,883 | 0 | 0 |
Acquisition of premises and equipment | (2,224) | (1,788) | (2,667) |
Proceeds from sale of premises and equipment | 1,678 | 83 | 285 |
Proceeds from sale of foreclosed assets | 0 | 87 | 0 |
Net cash provided by (used in) investing activities | 367,416 | (101,038) | 110,836 |
Cash flows from financing activities: | |||
Repayments Of Notes Payable | 0 | (186,664) | 0 |
Proceeds from issuance of common stock | 13,479 | 10,493 | 15,175 |
Payments for repurchase of redeemable preferred stock | 0 | 0 | (28,017) |
Dividends paid | (161,516) | (141,466) | (133,645) |
Net payments for repurchase of common stock | (631,965) | (350,656) | (500,705) |
Payments related to tax witholding for share-based compensation | (5,771) | (5,107) | (3,394) |
Net cash used in financing activities | (785,773) | (673,400) | (650,586) |
Net increase in cash and due from banks, and restricted cash | 22,628 | 10,411 | 13,340 |
Cash and due from banks and restricted cash at beginning of period | 80,305 | 69,894 | 56,554 |
Cash and due from banks and restricted cash at end of period | $ 102,933 | $ 80,305 | $ 69,894 |
Popular, Inc. (Holding compan_7
Popular, Inc. (Holding company only) financial information (Notes payable by contractual maturities) (Details) - Notes payable - Popular, Inc. Holding Co. $ in Thousands | Dec. 31, 2022 USD ($) |
Debt Disclosure | |
2023 | $ 299,109 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
2027 | 0 |
Later years | 104,148 |
Total | $ 403,257 |
Popular, Inc. (Holding compan_8
Popular, Inc. (Holding company only) financial information - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
BHD LEON | |||
Dividends distribution | $ 16 | $ 4.3 | |
Popular, Inc. Holding Co. | Equity Method Investee | |||
Dividends and others received | 1.5 | 3 | $ 2.3 |
Dividends distribution | 1.5 | 2.3 | 2.3 |
Popular, Inc. Holding Co. | BHD LEON | |||
Dividends distribution | 18.5 | 0 | 12.5 |
Popular, Inc. Holding Co. | PNA | |||
Dividends distribution | $ 53.5 | $ 0 | $ 0 |