Company Announcements

Popular, Inc. Announces First Quarter 2021 Financial Results

  • Net income of $262.6 million in Q1 2021, compared to net income of $176.3 million in Q4 2020.
  • Net interest margin of 3.07% in Q1 2021, compared to 3.04% in Q4 2020; net interest margin on a taxable equivalent basis of 3.39% in Q1 2021, compared to 3.35% in Q4 2020.
  • Credit Quality:
    • Non-performing loans held-in-portfolio (“NPLs”) decreased by $39.6 million from Q4 2020; NPLs to loans ratio at 2.4% vs. 2.5% in Q4 2020;
    • Net charge-offs (“NCOs”) decreased by $21.0 million from Q4 2020; NCOs at 0.29% of average loans held-in-portfolio vs. 0.58% in Q4 2020;
    • Allowance for credit losses (“ACL”) to loans held-in-portfolio at 2.75% vs. 3.05% in Q4 2020; and
    • ACL to NPLs at 114.7% vs. 121.5% in Q4 2020.
  • Common Equity Tier 1 ratio of 17.15%, Common Equity per Share of $69.63 and Tangible Book Value per Share of $61.42 at March 31, 2021.

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Apr. 28, 2021-- Popular, Inc. (the “Corporation,” “Popular,” “we,” “us,” “our”) (NASDAQ:BPOP) reported net income of $262.6 million for the quarter ended March 31, 2021, compared to net income of $176.3 million for the quarter ended December 31, 2020.

Ignacio Alvarez, President and Chief Executive Officer, said: “We got off to a strong start in 2021, earning $262.6 million in the quarter, and are optimistic about the economy and our opportunities for the remainder of the year. Our results include a benefit in the provision for credit losses of $82.2 million due to an improving macro-economic environment and lower credit losses. Even after the benefit, our allowance for credit losses stands at $800 million or 2.75% of loans-held-in-portfolio. Our capital levels remain strong, which, as evidenced by the recently announced capital actions for 2021, allows us to meet the needs of our customers as we prudently return capital to our shareholders.

Our colleagues continued to achieve impressive results under challenging circumstances. We experienced growth in our top line revenue, which benefited from PPP-related income and an increase in the value of our mortgage servicing rights. We also achieved record level of deposits and additional growth in active users of our digital platforms. Notwithstanding the demographic challenges we face in Puerto Rico, we added 12,000 new customers during the quarter. We also continue to support our small and middle market clients, approving close to 13,000 loans amounting to $478 million in PPP funding during the quarter.

I am especially proud of how we have partnered with local health authorities and community organizations by lending our facilities and personnel to help accelerate vaccination efforts in Puerto Rico. As the data has demonstrated, massive vaccination is key to controlling the virus, and we are encouraged by the pace of vaccination, particularly on the island. I am happy to report that 80% of our employees in Puerto Rico have received at least one dose of the vaccine. We still have more to do in our other markets, and we are committed to encouraging and facilitating vaccination opportunities to all our colleagues.

In alignment with our corporate values, we expanded our efforts to promote financial inclusion by making a $1.0 million investment in Greenwood, a digital banking platform designed to address the financial needs of Afro-American and Latinx consumers.”

Earnings Highlights

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

Quarters ended

(Dollars in thousands, except per share information)

31-Mar-21

 

31-Dec-20

 

31-Mar-20

Net interest income

$479,112

 

$471,616

 

$473,095

Provision (reversal) for credit losses

(82,226)

 

21,218

 

189,731

Net interest income after provision (reversal) for credit losses

561,338

 

450,398

 

283,364

Other non-interest income

153,653

 

144,847

 

126,643

Operating expenses

375,528

 

375,924

 

372,608

Income before income tax

339,463

 

219,321

 

37,399

Income tax expense

76,831

 

43,045

 

3,097

Net income

$262,632

 

$176,276

 

$34,302

Net income applicable to common stock

$262,279

 

$175,923

 

$33,602

Net income per common share - Basic

$3.13

 

$2.10

 

$0.37

Net income per common share - Diluted

$3.12

 

$2.10

 

$0.37

 

 

 

 

 

 

Significant Events

Financial Highlights

For the first quarter of 2021, the Corporation recorded net income of $262.6 million, compared to a net income of $176.3 million for the previous quarter. The results include a release of the allowance for credit losses of $82.2 million mainly due to the improved macroeconomic outlook and improving credit quality. Net Interest income was $479.1 million, an increase of $7.5 million compared to the previous quarter, driven by an increase in interest income and fees from the portfolio of loans under the U.S. Small Business Administration (“SBA”) Payment Protection Program (“PPP”). The net interest margin improved 3 basis points to 3.07%. Total assets grew by $0.9 billion from the previous quarter, mainly due to an increase in deposits across various sectors.

Capital Actions

On April 12, 2021, the Corporation announced the following capital actions:

  • an increase in the Corporation’s quarterly common stock dividend from $0.40 per share to $0.45 per share, commencing with the dividend payable in the third quarter of 2021, subject to the approval by the Corporation’s Board of Directors; and
  • common stock repurchases of up to $350 million during 2021.

The Corporation’s planned common stock repurchases may be executed in the open market or in privately negotiated transactions. The timing and exact amount of such repurchases will be subject to various factors, including market conditions and the Corporation’s capital position and financial performance.

Net interest income on a taxable equivalent basis – Non-GAAP financial measure

Net interest income, on a taxable equivalent basis, is presented with its different components in Table D for the quarters ended March 31, 2021 as compared with previous quarters. Net interest income on a taxable equivalent basis is a non-GAAP financial measure. Management believes that this presentation provides meaningful information since it facilitates the comparison of revenues arising from taxable and tax-exempt sources.

Non-GAAP financial measures used by the Corporation may not be comparable to similarly named non-GAAP financial measures used by other companies.

Net interest income for the quarter ended March 31, 2021 was $479.1 million compared to $471.6 million in the previous quarter, an increase of $7.5 million. Net interest income, on a taxable equivalent basis, for the first quarter of 2021 was $529.8 million, an increase of $9.1 million when compared to $520.7 million in the fourth quarter of 2020.

The net interest margin increased 3 basis points to 3.07% compared to 3.04% in the previous quarter. The increase in the net interest margin resulted from higher PPP fees recognized and a lower cost of deposits. On a taxable equivalent basis, net interest margin for the first quarter of 2021 was 3.39 % compared to 3.35% in the fourth quarter of 2020, an increase of 4 basis points. The main variances in net interest income on a taxable equivalent basis were:

  • interest income from loans increased by $5.0 million in the quarter due to the following main variances:

    • Higher interest income from commercial loans by $8.8 million mostly driven by the increase in SBA PPP interest income and fees of $11.6 million resulting mainly from the repayment of loans. These positive variances were partially offset by the impact of two fewer days in the quarter or $3.7 million,

    • consumer loans, including credit cards decreased $93 million on average or $2.7 million in interest income,

    • the combined balance of auto and lease financing increased $118 million but income from the portfolio was impacted negatively by two fewer days in the quarter or $1.5 million.

Changes in portfolio composition, including the above-mentioned changes, resulted in an increase in the total loan yield of 15 basis points when compared to the previous quarter. The Corporation recognized income of $23.1 million related to loans issued under the SBA PPP program, compared to $11.5 million in the previous quarter. These loans have a yield of approximately 7.21% in this quarter compared to 3.23% last quarter, including the amortization of fees received under the program that at March 31, 2021 had $50.1 million in unamortized balance; and

  • lower interest expense on deposits by $3.2 million, or 3 basis points, due to lower interest cost at Popular Bank (“PB”)

The total net impact on net interest income of the two fewer days in this quarter when compared to the fourth quarter of 2020 is estimated at $7.7 million.

The net interest income for the Banco Popular de Puerto Rico (“BPPR”) segment amounted to $410.3 million for the quarter ended March 31, 2021, compared to $402.1 million in the previous quarter. The net interest margin for the first quarter of 2021 was 3.10%, an increase of 3 basis points when compared to 3.07% for the previous quarter. As discussed above, the net interest margin was positively impacted by higher interest income and fees from the repayment of PPP loans of approximately $11.2 million. The cost of interest-bearing deposits was 0.21%, compared to 0.22% for the previous quarter. Total cost of deposits for the quarter was 0.16%, compared to 0.17% reported in the fourth quarter of 2020.

Net interest income for PB was $79.2 million for the quarter ended March 31, 2021, compared to $79.6 million during the previous quarter. Net interest margin for the quarter was 3.35%, flat quarter over quarter. The cost of interest-bearing deposits was 0.66%, compared to 0.79% in the previous quarter, decreasing for the sixth consecutive quarter. Total cost of deposits for the quarter, including demand deposits, was 0.54%, compared to 0.65% reported in the fourth quarter of 2020.

Non-interest income

Non-interest income increased by $8.8 million to $153.7 million for the quarter ended March 31, 2021, compared to $144.9 million for the quarter ended December 31, 2020. The increase in non-interest income was primarily driven by:

  • higher income from mortgage banking activities by $7.6 million mainly due to a favorable variance in fair value adjustments on mortgage servicing rights (“MSRs”) of $9.2 million principally due to a decrease in estimated prepayments driven by increases in interest rates and higher gains on closed derivative positions by $4.7 million; partially offset by lower gains on securitization transactions by $6.0 million; and
  • higher other operating income by $5.8 million mainly due to higher net earnings from the combined portfolio of investments under the equity method by $3.5 million and a higher gain on sale of daily auto rental units by $2.0 million;

partially offset by:

  • an unfavorable variance in adjustments to indemnity reserves on previously sold loans of $2.9 million mainly due to higher provision expense related to loans previously sold with credit recourse.

Refer to Table B for further details.

Operating expenses

Operating expenses for the first quarter of 2021 totaled $375.5 million, a decrease of $0.4 million from the fourth quarter of 2020. The fourth quarter reflected $23.2 million in expenses related to PB’s New York branch optimization initiative. Additionally, during the fourth quarter of last year, the Corporation also reclassified $10.0 million of the provision expense for unfunded loan commitments to the provision for credit losses caption. Excluding these two items, the net increase would have been $12.8 million. The variance in operating expenses was driven primarily by:

  • Lower net occupancy expense by $16.8 million due to $19.0 million in costs related to the termination of real property leases associated with PB’s New York branch optimization initiative, including the impairment of the right-of-use assets during the fourth quarter of 2020;
  • lower professional fees by $4.1 million mainly due to lower advisory expenses by $4.9 million related to corporate initiatives; and
  • lower business promotion expenses by $3.9 million due to lower seasonal advertising expense by $2.7 million.

Partially offset by:

  • Higher personnel cost by $17.2 million due to $13.8 million in higher commission, incentives, and other bonuses, including higher performance shares and restricted stock expenses by $7.9 million; and higher expense related to annual employee incentives tied to the Corporation’s financial performance by $7.4 million; and
  • higher other operating expenses by $9.2 million mainly due to the reclassification, during the fourth quarter of 2020, of $10.0 million in provision for unfunded commitments from the other expenses line to the provision for credit losses, partially offset by $2.1 million in impairment losses on leasehold improvements associated with PB’s New York branch optimization initiative, also recorded in the fourth quarter of 2020.

Full-time equivalent employees were 8,469 as of March 31, 2021, compared to 8,522 as of December 31, 2020.

For a breakdown of operating expenses by category refer to Table B.

Income taxes

For the quarter ended March 31, 2021, the Corporation recorded an income tax expense of $76.8 million, compared to $43.0 million for the previous quarter. The increase in income tax expense was mainly attributable to higher income before tax during the first quarter of 2021. The effective tax rate (“ETR”) for the first quarter of 2021 was of 23%, compared to 20% for the previous quarter. The ETR of the Corporation is impacted by the composition and source of its taxable income. The increase in the ETR rate for the first quarter of 2021 was primarily attributed to higher income at the Puerto Rico marginal tax rate.

Credit Quality

During the first quarter of 2021, the Corporation exhibited improved credit quality metrics and lower credit costs, driven by the improving economic environment, which reflects the impact of the unprecedented amounts of government stimulus in response to the COVID-19 pandemic. We will continue to closely monitor economic conditions, the effect of the pandemic on our loan portfolios and associated risks. However, management believes that the improvement over the last few years in the risk profile of the Corporation’s loan portfolios, along with the government stimulus, positions Popular to operate successfully under the current environment.

The following presents credit quality results for the first quarter of 2021:

  • At March 31, 2021, total non-performing loans held-in-portfolio decreased by $39.6 million from December 31, 2020. BPPR’s NPLs decreased by $34.4 million, driven by lower mortgage NPLs by $23.6 million, reflective of the resumption of consistent loan payments following the end of the COVID-19 moratorium period. Construction NPLs decreased by $6.6 million mostly due to a previously reserved loan that was partially charged-off during the quarter. PB’s NPLs decreased by $5.2 million mostly related to a commercial loan transferred to loans-held-for-sale. Excluding government guaranteed loans, at March 31, 2021, the Corporation had 122,216 loans with an aggregate book value of $6.8 billion that had completed their moratorium period, of which 114,900 loans, or 94%, with an aggregate book value of $6.5 billion were current in their payments. At March 31, 2021, the ratio of NPLs to total loans held-in-portfolio was 2.4%, compared to 2.5% in the fourth quarter of 2020.
  • Inflows of NPLs held-in-portfolio, excluding consumer loans, decreased by $29.6 million quarter-over-quarter. In BPPR, total inflows decreased by $35.7 million driven by mortgage inflows decreasing by $32.0 million, as the prior quarter was impacted by an increase in mortgage inflow due to the delinquency progression at the expiration of the moratorium period. The NPL inflows at PB increased by $6.1 million during the quarter, mostly due to higher construction inflows related to a loan that reached 90 days past due during its renewal process. As of March 31, 2021, the loan was current.
  • NCOs decreased by $21.0 million from the fourth quarter of 2020. BPPR ‘s NCOs decreased by $21.7 million, primarily driven by lower commercial NCOs by $18.6 million, as the prior quarter included impairment charge-offs from previously reserved loans. Consumer NCOs decreased $12.5 million, mainly due to recoveries of $7.6 million related to the sale of previously fully charged-off loans during the first quarter of 2021. These decreases were partially offset by higher construction NCOs by $6.5 million related to a previously reserved loan that was partially charged-off during the quarter. During the first quarter of 2021, the Corporation’s ratio of annualized net charge-offs to average loans held-in-portfolio was 0.29%, compared to 0.58% in the fourth quarter of 2020. Refer to Table M for further information on net charge-offs and related ratios.
  • At March 31, 2021, the allowance for credit losses (“ACL”) reflected a decrease of $95.5 million from the fourth quarter of 2020 to $800.8 million. The ACL incorporates an updated economic outlook for the United States and Puerto Rico. The updated economic outlook is more favorable than previous forecasts prompting substantial reductions in reserves across different portfolios. These decreases in reserve levels were partially offset with qualitative reserves aimed at addressing uncertainties in specific portfolios, mainly in U.S. commercial real estate. The allowance for the BPPR and PB segments decreased by $58.1 million and $37.4 million, respectively. The ratio of the allowance for credit losses to loans held-in-portfolio was 2.75% in the first quarter of 2021, compared to 3.05% in the previous quarter. The ratio of the allowance for credit losses to NPLs held-in-portfolio stood at 114.7%, compared to 121.5% in the previous quarter.
  • Given that any one economic outlook is inherently uncertain, the Corporation leverages multiple scenarios to estimate its ACL. The ACL is estimated by weighting the outputs of optimistic, baseline, and pessimistic scenarios. Among the three scenarios used to estimate the ACL, the baseline is assigned the highest probability, followed by the pessimistic scenario given the uncertainties in the economic outlook and downside risk. The current baseline scenario shows improvement in both 2021 GDP growth and unemployment when compared to previous estimates. The 2021 forecasted GDP growth is now at 4.9% for U.S. and 3.4% for P.R., compared to 4.1% and 2.5%, respectively, in the previous 2021 forecast. Expectations for 2022 also present an improvement over the prior forecast. The U.S. and P.R. forecasted unemployment rate average for 2021 is now 6.09% and 7.98%, respectively. This is an improvement over the previous estimate of 7.41% for the U.S. and 8.34% for P.R.
  • The provision for credit losses for the loans portfolios for the first quarter of 2021 decreased by $86.6 million to a benefit of $75.8 million, amid improved macroeconomic outlook and lower NCOs for the quarter. The provision for the BPPR segment decreased by $64.7 million, while the provision for the PB segment decreased by $21.8 million.
  • The provision for unfunded commitments for the first quarter of 2021 reflected a benefit of $6.2 million, compared to $2.6 million provision expense during the previous quarter, driven by the improvements in macroeconomic outlook and credit quality metrics. During the fourth quarter of 2020, the Corporation reclassified $10.0 million of the expense for unfunded loan commitments from other operating expenses to the provision for credit loss caption for a total provision for unfunded commitments of $12.6 million for the period. The provision for credit losses in our investment portfolio was a benefit of $0.2 million, compared to a benefit of $2.2 million in the fourth quarter of 2020. The provision for unfunded loan commitments, provision for credit losses on our loan and lease portfolios and provision for credit losses on our investment portfolio are aggregated and presented in the provision for credit losses caption in our Statement of Operations.

Non-Performing Assets

 

 

 

 

 

(Unaudited)

 

 

 

 

 

(In thousands)

31-Mar-21

 

31-Dec-20

 

31-Mar-20

Non-performing loans held-in-portfolio

$698,142

 

$737,774

 

$768,675

Non-performing loans held-for-sale

3,549

 

2,738

 

10,679

Other real estate owned (“OREO”)

72,060

 

83,146

 

123,922

Total non-performing assets

$773,751

 

$823,658

 

$903,276

Net charge-offs for the quarter

$21,030

 

$42,078

 

$62,523

 

 

 

 

 

 

 

Ratios:

 

 

 

 

 

Loans held-in-portfolio

$29,131,628

 

$29,385,196

 

$27,662,272

Non-performing loans held-in-portfolio to loans held-in-portfolio

2.40%

 

2.51%

 

2.78%

Allowance for credit losses to loans held-in-portfolio

2.75

 

3.05

 

3.32

Allowance for credit losses to non-performing loans, excluding loans held-for-sale

114.70

 

121.48

 

119.65

Refer to Table K for additional information.

 

 

 

 

 

Provision (Reversal) for Credit Losses - Loan Portfolios

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

Quarters ended

(In thousands)

 

31-Mar-21

 

31-Dec-20

 

31-Mar-20

Provision (reversal) for credit losses - loan portfolios:

 

 

 

 

 

 

BPPR

 

$(39,976)

$24,756

 

$113,004

Popular U.S.

 

(35,803)

(13,971)

75,991

Total provision (reversal) for credit losses - loan portfolios

 

$(75,779)

$10,785

 

$188,995

Credit Quality by Segment

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

(In thousands)

Quarters ended

BPPR

 

31-Mar-21

 

31-Dec-20

 

31-Mar-20

Provision (reversal) for credit losses - loan portfolios

 

$(39,976)

$24,756

 

$113,004

Net charge-offs

 

19,474

 

41,217

 

59,517

Total non-performing loans held-in-portfolio

665,978

 

700,377

 

735,683

Allowance / loans held-in-portfolio

3.20%

 

3.43%

 

3.74%

 

 

 

 

 

 

 

 

Quarters ended

Popular U.S.

 

31-Mar-21

 

31-Dec-20

 

31-Mar-20

Provision (reversal) for credit losses - loan portfolios

 

$(35,803)

$(13,971)

$75,991

Net charge-offs

 

1,556

 

861

 

3,006

Total non-performing loans held-in-portfolio

 

32,164

 

37,397

 

32,992

Allowance / loans held-in-portfolio

1.53%

 

2.00%

 

2.19%

Financial Condition Highlights

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

(In thousands)

 

 

31-Mar-21

 

31-Dec-20

 

31-Mar-20

Cash and money market investments

 

 

$12,064,592

 

$12,131,945

 

$6,387,267

Investment securities

 

 

23,076,488

 

21,864,184

 

16,114,167

Loans

 

 

29,131,628

 

29,385,196

 

27,662,272

Total assets

 

 

66,870,268

 

65,926,000

 

52,803,639

Deposits

 

 

58,742,801

 

56,866,340

 

44,797,176

Borrowings

 

 

1,311,064

 

1,346,284

 

1,336,897

Total liabilities

 

 

60,972,709

 

59,897,313

 

47,134,034

Stockholders’ equity

 

 

5,897,559

 

6,028,687

 

5,669,605

Total assets increased by $0.9 billion from the fourth quarter of 2020, driven by:

  • an increase of $1.2 billion in debt securities available-for-sale, mainly due to purchases of U.S. treasury securities and agency mortgage-backed securities, partially offset by paydowns and a decrease in unrealized gains of $0.4 billion in this portfolio;

partially offset by:

  • a decrease of $0.3 billion in loans held-in-portfolio, mainly in commercial loans at BPPR, in part due to the repayments of PPP loans.

Total liabilities increased by $1.1 billion from the fourth quarter of 2020, mainly due to:

  • an increase of $1.9 billion in deposits mainly due to higher private demand deposits by $1.6 billion at BPPR and PB and higher savings account deposits at BPPR by $0.3 billion;

partially offset by:

  • a decrease of $0.8 billion in other liabilities, mainly due to the settlement of purchases of debt securities.

Stockholders’ equity decreased by approximately $131.1 million from the fourth quarter of 2020, principally due to lower accumulated unrealized gains on debt securities available-for-sale by $369.9 million, offset by net income for the quarter of $262.6 million, less declared dividends of $33.7 million on common stock and $0.4 million in dividends on preferred stock.

Common equity tier-1 ratio (“CET1”), common equity per share and tangible book value per share were 17.15%, $69.63 and $61.42, respectively, at March 31, 2021, compared to 16.26%, $71.30 and $63.07 at December 31, 2020. Refer to Table A for capital ratios.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including without limitation those about Popular’s business, financial condition, results of operations, plans, objectives and future performance. These statements are not guarantees of future performance, are based on management’s current expectations and, by their nature, involve risks, uncertainties, estimates and assumptions. Potential factors, some of which are beyond the Corporation’s control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. Risks and uncertainties include without limitation the effect of competitive and economic factors, and our reaction to those factors, the adequacy of the allowance for loan losses, delinquency trends, market risk and the impact of interest rate changes, capital market conditions, capital adequacy and liquidity, the effect of legal and regulatory proceedings (including as a result of any participation in and execution of government programs related to the COVID-19 pandemic), new accounting standards on the Corporation’s financial condition and results of operations, the scope and duration of the COVID-19 pandemic, actions taken by governmental authorities in response thereto, and the direct and indirect impact of the pandemic on Popular, our customers, service providers and third parties. All statements contained herein that are not clearly historical in nature, are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions, and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions, are generally intended to identify forward-looking statements.

More information on the risks and important factors that could affect the Corporation’s future results and financial condition is included in our Annual Report on Form 10-K for the year ended December 31, 2020, and in our Form 10-Q for the quarter ended March 31, 2021 to be filed with the Securities and Exchange Commission. Our filings are available on the Corporation’s website (www.popular.com) and on the Securities and Exchange Commission website (www.sec.gov). The Corporation assumes no obligation to update or revise any forward-looking statements or information which speak as of their respective dates.

About Popular, Inc.

Popular, Inc. (NASDAQ: BPOP) is the leading financial institution in Puerto Rico, by both assets and deposits, and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.

Conference Call

Popular will hold a conference call to discuss its financial results today Wednesday, April 28, 2021 at 11:00 a.m. Eastern Time. The call will be open to the public and broadcasted live over the Internet and can be accessed through the Investor Relations section of the Corporation’s website: www.popular.com.

Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary audio software. The call may also be accessed through the dial-in telephone number 1-866-235-1201 or 1-412-902-4127. There is no charge to access the call.

A replay of the webcast will be archived in Popular’s website. A telephone replay will be available one hour after the end of the conference call through Friday, May 28, 2021. The replay dial-in is: 1-877-344-7529 or 1-412-317-0088. The replay passcode is 10153733.

An electronic version of this press release can be found at the Corporation’s website: www.popular.com.

Popular, Inc.

Financial Supplement to First Quarter 2021 Earnings Release

 

Table A - Selected Ratios and Other Information

 

Table B - Consolidated Statement of Operations

 

Table C - Consolidated Statement of Financial Condition

 

Table D - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - QUARTER

 

Table E - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - YEAR-TO-DATE [Left Blank]

 

Table F - Mortgage Banking Activities & Other Service Fees

 

Table G - Loans and Deposits

 

Table H - Loan Delinquency - PUERTO RICO OPERATIONS

 

Table I - Loan Delinquency - POPULAR U.S. OPERATIONS

 

Table J - Loan Delinquency - CONSOLIDATED

 

Table K - Non-Performing Assets

 

Table L - Activity in Non-Performing Loans

 

Table M - Allowance for Credit Losses, Net Charge-offs and Related Ratios

 

Table N - Allowance for Credit Losses - Loan Portfolios - CONSOLIDATED

 

Table O - Allowance for Credit Losses - Loan Portfolios - PUERTO RICO OPERATIONS

 

Table P - Allowance for Credit Losses - Loan Portfolios - POPULAR U.S. OPERATIONS

 

Table Q - Reconciliation to GAAP Financial Measures

POPULAR, INC.

Financial Supplement to First Quarter 2021 Earnings Release

Table A - Selected Ratios and Other Information

(Unaudited)

 

 

 

Quarters ended

 

31-Mar-21

31-Dec-20

31-Mar-20

Basic EPS

$3.13

$2.10

$0.37

Diluted EPS

$3.12

$2.10

$0.37

Average common shares outstanding

83,899,769

83,841,343

90,788,557

Average common shares outstanding - assuming dilution

84,051,935

83,940,412

90,892,961

Common shares outstanding at end of period

84,379,180

84,244,235

88,125,974

Market value per common share

$70.32

$56.32

$35.00

Market capitalization - (In millions)

$5,934

$4,745

$3,084

Return on average assets

1.61%

1.08%

0.27%

Return on average common equity

18.76%

12.68%

2.50%

Net interest margin (non-taxable equivalent basis)

3.07%

3.04%

3.94%

Net interest margin (taxable equivalent basis) -non-GAAP

3.39%

3.35%

4.34%

Common equity per share

$69.63

$71.30

$64.08

Tangible common book value per common share (non-GAAP) [1]

$61.42

$63.07

$56.17

Tangible common equity to tangible assets (non-GAAP) [1]

7.83%

8.14%

9.50%

Return on average tangible common equity [1]

21.37%

14.50%

2.87%

Tier 1 capital

17.22%

16.33%

15.79%

Total capital

19.70%

18.81%

18.36%

Tier 1 leverage

8.06%

7.80%

8.94%

Common Equity Tier 1 capital

17.15%

16.26%

15.79%

[1] Refer to Table Q for reconciliation to GAAP financial measures.

POPULAR, INC.

Financial Supplement to First Quarter 2021 Earnings Release

Table B - Consolidated Statement of Operations

(Unaudited)

 

 

Quarters ended

Variance

Quarter ended

Variance

 

 

 

 

Q1 2021

 

Q1 2021

(In thousands, except per share information)

31-Mar-21

31-Dec-20

vs. Q4 2020

31-Mar-20

vs. Q1 2020

Interest income:

 

 

 

 

 

 

Loans

$434,649

$430,988

$3,661

$450,446

$(15,797)

 

Money market investments

3,112

2,933

179

12,000

(8,888)

 

Investment securities

85,690

85,502

188

87,912

(2,222)

 

Total interest income

523,451

519,423

4,028

550,358

(26,907)

Interest expense:

 

 

 

 

 

 

Deposits

30,201

33,420

(3,219)

62,101

(31,900)

 

Short-term borrowings

143

348

(205)

1,048

(905)

 

Long-term debt

13,995

14,039

(44)

14,114

(119)

 

Total interest expense

44,339

47,807

(3,468)

77,263

(32,924)

Net interest income

479,112

471,616

7,496

473,095

6,017

Provision (reversal) for credit losses

(82,226)

21,218

(103,444)

189,731

(271,957)

Net interest income after provision (reversal) for credit losses

561,338

450,398

110,940

283,364

277,974

Service charges on deposit accounts

39,620

39,152

468

41,659

(2,039)

Other service fees

70,628

71,156

(528)

64,773

5,855

Mortgage banking activities

17,343

9,730

7,613

6,420

10,923

Net gain (loss), including impairment, on equity securities

421

1,410

(989)

(2,728)

3,149

Net (loss) profit on trading account debt securities

(45)

440

(485)

491

(536)

Net gain on sale of loans, including valuation adjustments on loans held-for-sale

-

253

(253)

957

(957)

Adjustments (expense) to indemnity reserves on loans sold

(698)

2,160

(2,858)

(4,793)

4,095

Other operating income

26,384

20,546

5,838

19,864

6,520

 

Total non-interest income

153,653

144,847

8,806

126,643

27,010

Operating expenses:

 

 

 

 

 

Personnel costs

 

 

 

 

 

 

Salaries

89,335

92,063

(2,728)

92,256

(2,921)

 

Commissions, incentives and other bonuses

33,218

19,399

13,819

25,258

7,960

 

Pension, postretirement and medical insurance

10,924

12,454

(1,530)

9,638

1,286

 

Other personnel costs, including payroll taxes

26,002

18,351

7,651

19,679

6,323

 

Total personnel costs

159,479

142,267

17,212

146,831

12,648

Net occupancy expenses

26,013

42,793

(16,780)

25,158

855

Equipment expenses

21,575

22,395

(820)

21,605

(30)

Other taxes

13,959

13,532

427

13,681

278

Professional fees

 

 

 

 

 

 

Collections, appraisals and other credit related fees

3,320

2,948

372

3,881

(561)

 

Programming, processing and other technology services

66,366

66,483

(117)

62,819

3,547

 

Legal fees, excluding collections

2,365

2,734

(369)

2,986

(621)

 

Other professional fees

27,897

31,865

(3,968)

31,385

(3,488)

 

Total professional fees

99,948

104,030

(4,082)

101,071

(1,123)

Communications

6,833

6,274

559

5,954

879

Business promotion

12,521

16,466

(3,945)

14,197

(1,676)

FDIC deposit insurance

5,968

6,880

(912)

5,080

888

Other real estate owned (OREO) (income) expenses

(4,533)

(4,000)

(533)

2,479

(7,012)

Credit and debit card processing, volume, interchange and other expenses

12,454

13,209

(755)

10,282

2,172

Other operating expenses

 

 

 

 

 

 

Operational losses

7,896

4,992

2,904

8,374

(478)

 

All other

12,364

6,034

6,330

15,423

(3,059)

 

Total other operating expenses

20,260

11,026

9,234

23,797

(3,537)

Amortization of intangibles

1,051

1,052

(1)

2,473

(1,422)

 

Total operating expenses

375,528

375,924

(396)

372,608

2,920

Income before income tax

339,463

219,321

120,142

37,399

302,064

Income tax expense

76,831

43,045

33,786

3,097

73,734

Net income

$262,632

$176,276

$86,356

$34,302

$228,330

Net income applicable to common stock

$262,279

$175,923

$86,356

$33,602

$228,677

Net income per common share - basic

$3.13

$2.10

$1.03

$0.37

$2.76

Net income per common share - diluted

$3.12

$2.10

$1.02

$0.37

$2.75

Dividends Declared per Common Share

$0.40

$0.40

$-

$0.40

$-

Popular, Inc.

Financial Supplement to First Quarter 2021 Earnings Release

Table C - Consolidated Statement of Financial Condition

(Unaudited)

 

 

 

 

 

 

Variance

 

 

 

 

 

 

Q1 2021 vs.

(In thousands)

31-Mar-21

31-Dec-20

31-Mar-20

Q4 2020

Assets:

 

 

 

 

Cash and due from banks

$495,915

$491,065

$445,551

$4,850

Money market investments

11,568,677

11,640,880

5,941,716

(72,203)

Trading account debt securities, at fair value

36,504

36,674

42,545

(170)

Debt securities available-for-sale, at fair value

22,771,609

21,561,152

15,813,301

1,210,457

Debt securities held-to-maturity, at amortized cost

89,725

92,621

95,263

(2,896)

 

 

Less: Allowance for credit losses

10,096

10,261

13,390

(165)

 

 

Total debt securities held-to-maturity, net

79,629

82,360

81,873

(2,731)

Equity securities

178,650

173,737

163,058

4,913

Loans held-for-sale, at lower of cost or fair value

84,214

99,455

87,855

(15,241)

Loans held-in-portfolio

29,344,620

29,588,430

27,847,840

(243,810)

 

 

Less: Unearned income

212,992

203,234

185,568

9,758

 

 

Allowance for credit losses

800,797

896,250

919,716

(95,453)

 

 

Total loans held-in-portfolio, net

28,330,831

28,488,946

26,742,556

(158,115)

Premises and equipment, net

508,023

510,241

552,007

(2,218)

Other real estate

72,060

83,146

123,922

(11,086)

Accrued income receivable

215,993

209,320

176,078

6,673

Mortgage servicing rights, at fair value

122,543

118,395

147,311

4,148

Other assets

1,713,083

1,737,041

1,788,437

(23,958)

Goodwill

671,122

671,122

671,122

-

Other intangible assets

21,415

22,466

26,307

(1,051)

Total assets

$66,870,268

$65,926,000

$52,803,639

$944,268

Liabilities and Stockholders’ Equity:

 

 

 

 

Liabilities:

 

 

 

 

 

Deposits:

 

 

 

 

 

 

Non-interest bearing

$14,263,548

$13,128,699

$9,396,449

$1,134,849

 

 

Interest bearing

44,479,253

43,737,641

35,400,727

741,612

 

 

Total deposits

58,742,801

56,866,340

44,797,176

1,876,461

Assets sold under agreements to repurchase

86,834

121,303

178,766

(34,469)

Other short-term borrowings

-

-

100,000

-

Notes payable

1,224,230

1,224,981

1,058,131

(751)

Other liabilities

918,844

1,684,689

999,961

(765,845)

Total liabilities

60,972,709

59,897,313

47,134,034

1,075,396

Stockholders’ equity:

 

 

 

 

Preferred stock

22,143

22,143

22,143

-

Common stock

1,045

1,045

1,044

-

Surplus

4,571,919

4,571,534

4,366,300

385

Retained earnings

2,489,453

2,260,928

1,940,170

228,525

Treasury stock

(1,012,263)

(1,016,954)

(870,675)

4,691

Accumulated other comprehensive (loss) income, net of tax

(174,738)

189,991

210,623

(364,729)

 

 

Total stockholders’ equity

5,897,559

6,028,687

5,669,605

(131,128)

Total liabilities and stockholders’ equity

$66,870,268

$65,926,000

$52,803,639

$944,268

Popular, Inc.

Financial Supplement to First Quarter 2021 Earnings Release

Table D - Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - QUARTER

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarters ended

 

Variance

 

 

 

 

31-Mar-21

 

31-Dec-20

 

31-Mar-20

 

Q1 2021 vs. Q4 2020

 

Q1 2021 vs. Q1 2020

 

($ amounts in millions)

Average
balance

Income /
Expense

Yield /
Rate

 

Average
balance

Income /
Expense

Yield /
Rate

 

Average
balance

Income /
Expense

Yield /
Rate

 

Average
balance

Income /
Expense

Yield /
Rate

 

Average
balance

Income /
Expense

Yield /
Rate

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest earning assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market, trading and investment securities

$33,756

$127.8

1.52

%

$32,554

$127.2

1.56

%

$20,744

$135.7

2.63

%

$1,202

$0.6

(0.04)

%

$13,012

$(7.9)

(1.11)

%

 

Loans:

 

 

Commercial

13,624

179.0

5.33

 

13,610

170.2

4.98

 

12,342

183.2

5.97

 

14

8.8

0.35

 

1,282

(4.2)

(0.64)

 

 

 

Construction

911

11.9

5.30

 

928

12.8

5.48

 

861

13.2

6.16

 

(17)

(0.9)

(0.18)

 

50

(1.3)

(0.86)

 

 

 

Mortgage

7,869

98.4

5.00

 

7,856

98.6

5.02

 

7,028

93.2

5.30

 

13

(0.2)

(0.02)

 

841

5.2

(0.30)

 

 

 

Consumer

2,513

70.4

11.36

 

2,606

73.1

11.16

 

3,110

89.4

11.56

 

(93)

(2.7)

0.20

 

(597)

(19.0)

(0.20)

 

 

 

Auto

3,203

68.2

8.63

 

3,130

68.8

8.74

 

2,992

67.7

9.10

 

73

(0.6)

(0.11)

 

211

0.5

(0.47)

 

 

 

Lease financing

1,215

18.4

6.04

 

1,170

17.8

6.07

 

1,072

16.3

6.07

 

45

0.6

(0.03)

 

143

2.1

(0.03)

 

 

Total loans

29,335

446.3

6.15

 

29,300

441.3

6.00

 

27,405

463.0

6.79

 

35

5.0

0.15

 

1,930

(16.7)

(0.64)

 

 

Total interest earning assets

$63,091

$574.1

3.67

%

$61,854

$568.5

3.66

%

$48,149

$598.7

4.99

%

$1,237

$5.6

0.01

%

$14,942

$(24.6)

(1.32)

%

 

 

Allowance for credit losses - loan portfolio

(890)

 

 

 

(930)

 

 

 

(808)

 

 

 

40

 

 

 

(82)

 

 

 

 

 

Allowance for credit losses - investment securities

(10)

 

 

 

(12)

 

 

 

(13)

 

 

 

2

 

 

 

3

 

 

 

 

 

Other non-interest earning assets

3,895

 

 

 

4,054

 

 

 

4,026

 

 

 

(159)

 

 

 

(131)

 

 

 

 

Total average assets

$66,086

 

 

 

$64,966

 

 

 

$51,354

 

 

 

$1,120

 

 

 

$14,732

 

 

 

Liabilities and Stockholders' Equity:

 

Interest bearing deposits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NOW and money market

$22,674

$8.3

0.15

%

$21,829

$8.7

0.16

%

$16,229

$25.3

0.63

%

$845

$(0.4)

(0.01)

%

$6,445

$(17.0)

(0.48)

%

 

 

Savings

14,364

7.0

0.20

 

13,890

7.5

0.22

 

10,724

11.7

0.44

 

474

(0.5)

(0.02)

 

3,640

(4.7)

(0.24)

 

 

 

Time deposits

7,265

14.9

0.83

 

7,656

17.2

0.89

 

7,691

25.1

1.31

 

(391)

(2.3)

(0.06)

 

(426)

(10.2)

(0.48)

 

 

 

Total interest-bearing deposits

44,303

30.2

0.28

 

43,375

33.4

0.31

 

34,644

62.1

0.72

 

928

(3.2)

(0.03)

 

9,659

(31.9)

(0.44)

 

 

Borrowings

1,344

14.1

4.23

 

1,354

14.4

4.26

 

1,327

15.2

4.59

 

(10)

(0.3)

(0.03)

 

17

(1.1)

(0.36)

 

 

 

Total interest-bearing liabilities

45,647

44.3

0.39

 

44,729

47.8

0.43

 

35,971

77.3

0.86

 

918

(3.5)

(0.04)

 

9,676

(33.0)

(0.47)

 

 

 

Net interest spread

 

 

3.28

%

 

 

3.23

%

 

 

4.13

%

 

 

0.05

%

 

 

(0.85)

%

 

Non-interest bearing deposits

13,394

 

 

 

13,303

 

 

 

9,005

 

 

 

91

 

 

 

4,389

 

 

 

 

Other liabilities

1,351

 

 

 

1,393

 

 

 

897

 

 

 

(42)

 

 

 

454

 

 

 

 

Stockholders' equity

5,694

 

 

 

5,541

 

 

 

5,481

 

 

 

153

 

 

 

213

 

 

 

 

 

Total average liabilities and stockholders' equity

$66,086

 

 

 

$64,966

 

 

 

$51,354

 

 

 

$1,120

 

 

 

$14,732

 

 

 

Net interest income / margin on a taxable equivalent basis (Non-GAAP)

$529.8

3.39

%

 

$520.7

3.35

%

 

$521.4

4.34

%

 

$9.1

0.04

%

 

$8.4

(0.95)

%

Taxable equivalent adjustment

50.7

 

 

 

49.1

 

 

 

48.3

 

 

 

1.6

 

 

 

2.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income / margin non-taxable equivalent basis (GAAP)

$479.1

3.07

%

 

$471.6

3.04

%

 

$473.1

3.94

%

 

$7.5

0.03

%

 

$6.0

(0.87)

%

Popular, Inc.

Financial Supplement to First Quarter 2021 Earnings Release

Table E – Analysis of Levels and Yields on a Taxable Equivalent Basis (Non-GAAP) - YEAR-TO-DATE

 

[THIS PAGE INTENTIONALLY LEFT BLANK]

 

Popular, Inc.

 

 

 

 

 

Financial Supplement to First Quarter 2021 Earnings Release

 

Table F - Mortgage Banking Activities and Other Service Fees

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Banking Activities

 

 

 

 

 

 

Quarters ended

Variance

(In thousands)

31-Mar-21

31-Dec-20

31-Mar-20

Q1 2021 vs.Q4
2020

Q1 2021 vs.Q1
2020

Mortgage servicing fees, net of fair value adjustments:

 

 

 

 

 

 

Mortgage servicing fees

$9,715

$10,242

$10,968

$(527)

$(1,253)

 

Mortgage servicing rights fair value adjustments

512

(8,695)

(5,229)

9,207

5,741

Total mortgage servicing fees, net of fair value adjustments

10,227

1,547

5,739

8,680

4,488

Net gain on sale of loans, including valuation on loans held-for-sale

4,975

10,826

3,986

(5,851)

989

Trading account profit (loss):

 

 

 

 

 

 

Unrealized gains (losses) on outstanding derivative positions

-

4

(1,695)

(4)

1,695

 

Realized gains (losses) on closed derivative positions

2,502

(2,195)

(1,610)

4,697

4,112

Total trading account profit (loss)

2,502

(2,191)

(3,305)

4,693

5,807

Losses on repurchased loans, including interest advances[1]

(361)

(452)

-

91

(361)

Total mortgage banking activities

$17,343

$9,730

$6,420

$7,613

10,923

[1]

The Corporation, from time to time, repurchases delinquent loans from its GNMA servicing portfolio, in compliance with Guarantor guidelines, and may incur in losses related to previously advanced interest on delinquent loans. Effective for the quarter ended September 30, 2020, the Corporation has determined to present these losses as part of its Mortgage Banking Activities, which were previously presented with the indemnity reserves on loans sold component of non-interest income. The amount of these losses for prior years were considered immaterial for reclassification.

 

 

 

 

 

 

 

Other Service Fees

 

 

 

 

 

 

 

 

Quarters ended

Variance

(In thousands)

 

31-Mar-21

31-Dec-20

31-Mar-20

Q1 2021 vs.Q4
2020

Q1 2021 vs.Q1
2020

Other service fees:

 

 

 

 

 

 

 

Debit card fees

 

$11,577

$11,210

$10,237

$367

$1,340

 

Insurance fees

 

12,828

13,803

12,969

(975)

(141)

 

Credit card fees

 

28,691

27,986

23,186

705

5,505

 

Sale and administration of investment products

 

5,540

5,488

6,263

52

(723)

 

Trust fees

 

5,842

5,499

5,260

343

582

 

Other fees

 

6,150

7,170

6,858

(1,020)

(708)

Total other service fees

 

$70,628

$71,156

$64,773

$(528)

$5,855

Popular, Inc.

 

 

 

 

 

Financial Supplement to First Quarter 2021 Earnings Release

Table G - Loans and Deposits

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

Loans - Ending Balances

 

 

 

 

 

 

 

 

 

Variance

(In thousands)

31-Mar-21

31-Dec-20

31-Mar-20

Q1 2021 vs.Q4
2020

Q1 2021 vs.Q1
2020

Loans held-in-portfolio:

 

 

 

 

Commercial

$13,442,486

$13,614,310

$12,508,983

$(171,824)

$933,503

Construction

907,736

926,208

912,801

(18,472)

(5,065)

Lease financing

1,244,956

1,197,661

1,088,542

47,295

156,414

Mortgage

7,808,852

7,890,680

7,094,757

(81,828)

714,095

Auto

3,203,137

3,132,228

2,954,150

70,909

248,987

Consumer

2,524,461

2,624,109

3,103,039

(99,648)

(578,578)

Total loans held-in-portfolio

$29,131,628

$29,385,196

$27,662,272

$(253,568)

$1,469,356

Loans held-for-sale:

 

 

 

 

 

Commercial

$3,549

$2,738

$10,679

$811

$(7,130)

Mortgage

80,665

96,717

77,176

(16,052)

3,489

Total loans held-for-sale

$84,214

$99,455

$87,855

$(15,241)

$(3,641)

Total loans

$29,215,842

$29,484,651

$27,750,127

$(268,809)

$1,465,715

Deposits - Ending Balances

 

 

 

 

 

 

 

 

Variance

(In thousands)

31-Mar-21

31-Dec-20

31-Mar-20

Q1 2021 vs. Q4
2020

Q1 2021 vs.Q1
2020

Demand deposits [1]

$23,450,312

$22,532,729

$17,023,170

$917,583

$6,427,142

Savings, NOW and money market deposits (non-brokered)

27,356,136

26,390,565

18,786,042

965,571

8,570,094

Savings, NOW and money market deposits (brokered)

679,832

635,198

460,140

44,634

219,692

Time deposits (non-brokered)

7,143,221

7,130,749

8,404,525

12,472

(1,261,304)

Time deposits (brokered CDs)

113,300

177,099

123,299

(63,799)

(9,999)

Total deposits

$58,742,801

$56,866,340

$44,797,176

$1,876,461

$13,945,625

[1] Includes interest and non-interest bearing demand deposits.

 

 

 

 

Popular, Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Supplement to First Quarter 2021 Earnings Release

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Table H - Loan Delinquency - Puerto Rico Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31-Mar-21

Puerto Rico

 

 

 

 

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

 

$

196

 

$

-

 

$

814

 

$

1,010

 

$

137,097

 

$

138,107

 

 

$

814

 

$

-

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-owner occupied

 

 

939

 

 

25,406

 

 

76,524

 

 

102,869

 

 

1,958,129

 

 

2,060,998

 

 

 

76,524

 

 

-

 

Owner occupied

 

 

6,749

 

 

2,114

 

 

89,752

 

 

98,615

 

 

1,413,356

 

 

1,511,971

 

 

 

89,752

 

 

-

Commercial and industrial

 

 

3,870

 

 

650

 

 

34,333

 

 

38,853

 

 

4,032,359

 

 

4,071,212

 

 

 

33,773

 

 

560

Construction

 

 

639

 

 

-

 

 

14,877

 

 

15,516

 

 

145,081

 

 

160,597

 

 

 

14,877

 

 

-

Mortgage

 

 

175,930

 

 

83,770

 

 

1,211,935

 

 

1,471,635

 

 

5,204,344

 

 

6,675,979

 

 

 

390,781

 

 

821,154

Leasing

 

 

7,564

 

 

1,408

 

 

3,040

 

 

12,012

 

 

1,232,944

 

 

1,244,956

 

 

 

3,040

 

 

-

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit cards

 

 

4,824

 

 

3,883

 

 

10,779

 

 

19,486

 

 

858,255

 

 

877,741

 

 

 

-

 

 

10,779

 

Home equity lines of credit

 

 

-

 

 

-

 

 

46

 

 

46

 

 

3,498

 

 

3,544

 

 

 

-

 

 

46

 

Personal

 

 

10,216

 

 

6,250

 

 

25,731

 

 

42,197

 

 

1,219,094

 

 

1,261,291

 

 

 

25,731

 

 

-

 

Auto

 

 

47,396

 

 

8,783

 

 

15,405

 

 

71,584

 

 

3,131,553

 

 

3,203,137

 

 

 

15,405

 

 

-

 

Other

 

 

360

 

 

375

 

 

15,489

 

 

16,224

 

 

108,508

 

 

124,732

 

 

 

15,281

 

 

208

Total

 

$

258,683

 

$

132,639

 

$

1,498,725

 

$

1,890,047

 

$

19,444,218

 

$

21,334,265

 

 

$

665,978

 

$

832,747

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31-Dec-20

Puerto Rico

 

 

 

 

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

 

$

796

 

$

-

 

$

505

 

$

1,301

 

$

150,979

 

$

152,280

 

 

$

505

 

$

-

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-owner occupied

 

 

2,189

 

 

3,503

 

 

77,137

 

 

82,829

 

 

1,924,504

 

 

2,007,333

 

 

 

77,137

 

 

-

 

Owner occupied

 

 

8,270

 

 

1,218

 

 

92,001

 

 

101,489

 

 

1,497,406

 

 

1,598,895

 

 

 

92,001

 

 

-

Commercial and industrial

 

 

10,223

 

 

775

 

 

35,012

 

 

46,010

 

 

4,183,098

 

 

4,229,108

 

 

 

34,449

 

 

563

Construction

 

 

-

 

 

-

 

 

21,497

 

 

21,497

 

 

135,609

 

 

157,106

 

 

 

21,497

 

 

-

Mortgage

 

 

195,602

 

 

87,726

 

 

1,428,824

 

 

1,712,152

 

 

5,057,991

 

 

6,770,143

 

 

 

414,343

 

 

1,014,481

Leasing

 

 

9,141

 

 

1,427

 

 

3,441

 

 

14,009

 

 

1,183,652

 

 

1,197,661

 

 

 

3,441

 

 

-

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit cards

 

 

6,550

 

 

4,619

 

 

12,798

 

 

23,967

 

 

895,968

 

 

919,935

 

 

 

-

 

 

12,798

 

Home equity lines of credit

 

 

184

 

 

-

 

 

48

 

 

232

 

 

3,947

 

 

4,179

 

 

 

-

 

 

48

 

Personal

 

 

11,255

 

 

8,097

 

 

26,387

 

 

45,739

 

 

1,232,008

 

 

1,277,747

 

 

 

26,387

 

 

-

 

Auto

 

 

53,186

 

 

12,696

 

 

15,736

 

 

81,618

 

 

3,050,610

 

 

3,132,228

 

 

 

15,736

 

 

-

 

Other

 

 

304

 

 

483

 

 

15,052

 

 

15,839

 

 

110,826

 

 

126,665

 

 

 

14,881

 

 

171

Total

 

$

297,700

 

$

120,544

 

$

1,728,438

 

$

2,146,682

 

$

19,426,598

 

$

21,573,280

 

 

$

700,377

 

$

1,028,061

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Variance

 

 

 

 

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

 

$

(600)

 

$

-

 

$

309

 

$

(291)

 

$

(13,882)

 

$

(14,173)

 

 

$

309

 

$

-

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-owner occupied

 

 

(1,250)

 

 

21,903

 

 

(613)

 

 

20,040

 

 

33,625

 

 

53,665

 

 

 

(613)

 

 

-

 

Owner occupied

 

 

(1,521)

 

 

896

 

 

(2,249)

 

 

(2,874)

 

 

(84,050)

 

 

(86,924)

 

 

 

(2,249)

 

 

-

Commercial and industrial

 

 

(6,353)

 

 

(125)

 

 

(679)

 

 

(7,157)

 

 

(150,739)

 

 

(157,896)

 

 

 

(676)

 

 

(3)

Construction

 

 

639

 

 

-

 

 

(6,620)

 

 

(5,981)

 

 

9,472

 

 

3,491

 

 

 

(6,620)

 

 

-

Mortgage

 

 

(19,672)

 

 

(3,956)

 

 

(216,889)

 

 

(240,517)

 

 

146,353

 

 

(94,164)

 

 

 

(23,562)

 

 

(193,327)

Leasing

 

 

(1,577)

 

 

(19)

 

 

(401)

 

 

(1,997)

 

 

49,292

 

 

47,295

 

 

 

(401)

 

 

-

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit cards

 

 

(1,726)

 

 

(736)

 

 

(2,019)

 

 

(4,481)

 

 

(37,713)

 

 

(42,194)

 

 

 

-

 

 

(2,019)

 

Home equity lines of credit

 

 

(184)

 

 

-

 

 

(2)

 

 

(186)

 

 

(449)

 

 

(635)

 

 

 

-

 

 

(2)

 

Personal

 

 

(1,039)

 

 

(1,847)

 

 

(656)

 

 

(3,542)

 

 

(12,914)

 

 

(16,456)

 

 

 

(656)

 

 

-

 

Auto

 

 

(5,790)

 

 

(3,913)

 

 

(331)

 

 

(10,034)

 

 

80,943

 

 

70,909

 

 

 

(331)

 

 

-

 

Other

 

 

56

 

 

(108)

 

 

437

 

 

385

 

 

(2,318)

 

 

(1,933)

 

 

 

400

 

 

37

Total

 

$

(39,017)

 

$

12,095

 

$

(229,713)

 

$

(256,635)

 

$

17,620

 

$

(239,015)

 

 

$

(34,399)

 

$

(195,314)

Popular, Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Supplement to First Quarter 2021 Earnings Release

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Table I - Loan Delinquency - Popular U.S. Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 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)

 

days

 

days

 

or more

 

past due

 

Current

 

Loans HIP

 

 

loans

 

loans

Commercial multi-family

 

$

30,185

 

$

-

 

$

-

 

$

30,185

 

$

1,724,802

 

$

1,754,987

 

 

$

-

 

$

-

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-owner occupied

 

 

8,280

 

 

-

 

 

392

 

 

8,672

 

 

2,034,383

 

 

2,043,055

 

 

 

392

 

 

-

 

Owner occupied

 

 

5,437

 

 

644

 

 

323

 

 

6,404

 

 

323,541

 

 

329,945

 

 

 

323

 

 

-

Commercial and industrial

 

 

7,226

 

 

1,321

 

 

1,201

 

 

9,748

 

 

1,522,463

 

 

1,532,211

 

 

 

1,192

 

 

9

Construction

 

 

11,110

 

 

-

 

 

7,523

 

 

18,633

 

 

728,506

 

 

747,139

 

 

 

7,523

 

 

-

Mortgage

 

 

13,032

 

 

1,762

 

 

14,793

 

 

29,587

 

 

1,103,286

 

 

1,132,873

 

 

 

14,793

 

 

-

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit cards

 

 

-

 

 

-

 

 

-

 

 

-

 

 

22

 

 

22

 

 

 

-

 

 

-

 

Home equity lines of credit

 

 

121

 

 

10

 

 

6,855

 

 

6,986

 

 

82,631

 

 

89,617

 

 

 

6,855

 

 

-

 

Personal

 

 

1,156

 

 

666

 

 

1,086

 

 

2,908

 

 

162,540

 

 

165,448

 

 

 

1,086

 

 

-

 

Other

 

 

-

 

 

-

 

 

-

 

 

-

 

 

2,066

 

 

2,066

 

 

 

-

 

 

-

Total

 

$

76,547

 

$

4,403

 

$

32,173

 

$

113,123

 

$

7,684,240

 

$

7,797,363

 

 

$

32,164

 

$

9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2020

Popular U.S.

 

 

 

 

Past due

 

 

 

 

 

 

 

Past due 90 days or more

 

 

 

30-59

 

60-89

 

90 days

 

Total

 

 

 

 

 

 

Non-accrual

 

 

Accruing

(In thousands)

 

days

 

days

 

or more

 

past due

 

Current

 

Loans HIP

 

 

loans

 

loans

Commercial multi-family

 

$

5,273

 

$

-

 

$

1,894

 

$

7,167

 

$

1,736,544

 

$

1,743,711

 

 

$

1,894

 

$

-

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-owner occupied

 

 

924

 

 

3,640

 

 

669

 

 

5,233

 

 

1,988,577

 

 

1,993,810

 

 

 

669

 

 

-

 

Owner occupied

 

 

191

 

 

650

 

 

334

 

 

1,175

 

 

343,205

 

 

344,380

 

 

 

334

 

 

-

Commercial and industrial

 

 

1,117

 

 

72

 

 

3,091

 

 

4,280

 

 

1,540,513

 

 

1,544,793

 

 

 

3,091

 

 

-

Construction

 

 

21,312

 

 

-

 

 

7,560

 

 

28,872

 

 

740,230

 

 

769,102

 

 

 

7,560

 

 

-

Mortgage

 

 

33,422

 

 

15,464

 

 

14,864

 

 

63,750

 

 

1,056,787

 

 

1,120,537

 

 

 

14,864

 

 

-

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit cards

 

 

-

 

 

-

 

 

3

 

 

3

 

 

28

 

 

31

 

 

 

-

 

 

3

 

Home equity lines of credit

 

 

236

 

 

342

 

 

7,491

 

 

8,069

 

 

86,502

 

 

94,571

 

 

 

7,491

 

 

-

 

Personal

 

 

1,486

 

 

1,342

 

 

1,474

 

 

4,302

 

 

194,936

 

 

199,238

 

 

 

1,474

 

 

-

 

Other

 

 

-

 

 

-

 

 

20

 

 

20

 

 

1,723

 

 

1,743

 

 

 

20

 

 

-

Total

 

$

63,961

 

$

21,510

 

$

37,400

 

$

122,871

 

$

7,689,045

 

$

7,811,916

 

 

$

37,397

 

$

3

Variance

 

 

 

 

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

 

$

24,912

 

$

-

 

$

(1,894)

 

$

23,018

 

$

(11,742)

 

$

11,276

 

 

$

(1,894)

 

$

-

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-owner occupied

 

 

7,356

 

 

(3,640)

 

 

(277)

 

 

3,439

 

 

45,806

 

 

49,245

 

 

 

(277)

 

 

-

 

Owner occupied

 

 

5,246

 

 

(6)

 

 

(11)

 

 

5,229

 

 

(19,664)

 

 

(14,435)

 

 

 

(11)

 

 

-

Commercial and industrial

 

 

6,109

 

 

1,249

 

 

(1,890)

 

 

5,468

 

 

(18,050)

 

 

(12,582)

 

 

 

(1,899)

 

 

9

Construction

 

 

(10,202)

 

 

-

 

 

(37)

 

 

(10,239)

 

 

(11,724)

 

 

(21,963)

 

 

 

(37)

 

 

-

Mortgage

 

 

(20,390)

 

 

(13,702)

 

 

(71)

 

 

(34,163)

 

 

46,499

 

 

12,336

 

 

 

(71)

 

 

-

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit cards

 

 

-

 

 

-

 

 

(3)

 

 

(3)

 

 

(6)

 

 

(9)

 

 

 

-

 

 

-3

 

Home equity lines of credit

 

 

(115)

 

 

(332)

 

 

(636)

 

 

(1,083)

 

 

(3,871)

 

 

(4,954)

 

 

 

(636)

 

 

-

 

Personal

 

 

(330)

 

 

(676)

 

 

(388)

 

 

(1,394)

 

 

(32,396)

 

 

(33,790)

 

 

 

(388)

 

 

-

 

Other

 

 

-

 

 

-

 

 

(20)

 

 

(20)

 

 

343

 

 

323

 

 

 

(20)

 

 

-

Total

 

$

12,586

 

$

(17,107)

 

$

(5,227)

 

$

(9,748)

 

$

(4,805)

 

$

(14,553)

 

 

$

(5,233)

 

$

6

Popular, Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Supplement to First Quarter 2021 Earnings Release

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Table J - Loan Delinquency - Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31-Mar-21

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

 

 

loans

 

loans

Commercial multi-family

$

30,381

 

$

-

 

$

814

 

$

31,195

 

$

1,861,899

 

$

1,893,094

 

 

$

814

 

$

-

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-owner occupied

 

9,219

 

 

25,406

 

 

76,916

 

 

111,541

 

 

3,992,512

 

 

4,104,053

 

 

 

76,916

 

 

-

 

Owner occupied

 

12,186

 

 

2,758

 

 

90,075

 

 

105,019

 

 

1,736,897

 

 

1,841,916

 

 

 

90,075

 

 

-

Commercial and industrial

 

11,096

 

 

1,971

 

 

35,534

 

 

48,601

 

 

5,554,822

 

 

5,603,423

 

 

 

34,965

 

 

569

Construction

 

11,749

 

 

-

 

 

22,400

 

 

34,149

 

 

873,587

 

 

907,736

 

 

 

22,400

 

 

-

Mortgage

 

188,962

 

 

85,532

 

 

1,226,728

 

 

1,501,222

 

 

6,307,630

 

 

7,808,852

 

 

 

405,574

 

 

821,154

Leasing

 

7,564

 

 

1,408

 

 

3,040

 

 

12,012

 

 

1,232,944

 

 

1,244,956

 

 

 

3,040

 

 

-

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit cards

 

4,824

 

 

3,883

 

 

10,779

 

 

19,486

 

 

858,277

 

 

877,763

 

 

 

-

 

 

10,779

 

Home equity lines of credit

 

121

 

 

10

 

 

6,901

 

 

7,032

 

 

86,129

 

 

93,161

 

 

 

6,855

 

 

46

 

Personal

 

11,372

 

 

6,916

 

 

26,817

 

 

45,105

 

 

1,381,634

 

 

1,426,739

 

 

 

26,817

 

 

-

 

Auto

 

47,396

 

 

8,783

 

 

15,405

 

 

71,584

 

 

3,131,553

 

 

3,203,137

 

 

 

15,405

 

 

-

 

Other

 

360

 

 

375

 

 

15,489

 

 

16,224

 

 

110,574

 

 

126,798

 

 

 

15,281

 

 

208

Total

$

335,230

 

$

137,042

 

$

1,530,898

 

$

2,003,170

 

$

27,128,458

 

$

29,131,628

 

 

$

698,142

 

$

832,756

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31-Dec-20

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

 

 

loans

 

loans

Commercial multi-family

$

6,069

 

$

-

 

$

2,399

 

$

8,468

 

$

1,887,523

 

$

1,895,991

 

 

$

2,399

 

$

-

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-owner occupied

 

3,113

 

 

7,143

 

 

77,806

 

 

88,062

 

 

3,913,081

 

 

4,001,143

 

 

 

77,806

 

 

-

 

Owner occupied

 

8,461

 

 

1,868

 

 

92,335

 

 

102,664

 

 

1,840,611

 

 

1,943,275

 

 

 

92,335

 

 

-

Commercial and industrial

 

11,340

 

 

847

 

 

38,103

 

 

50,290

 

 

5,723,611

 

 

5,773,901

 

 

 

37,540

 

 

563

Construction

 

21,312

 

 

-

 

 

29,057

 

 

50,369

 

 

875,839

 

 

926,208

 

 

 

29,057

 

 

-

Mortgage

 

229,024

 

 

103,190

 

 

1,443,688

 

 

1,775,902

 

 

6,114,778

 

 

7,890,680

 

 

 

429,207

 

 

1,014,481

Leasing

 

9,141

 

 

1,427

 

 

3,441

 

 

14,009

 

 

1,183,652

 

 

1,197,661

 

 

 

3,441

 

 

-

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit cards

 

6,550

 

 

4,619

 

 

12,801

 

 

23,970

 

 

895,996

 

 

919,966

 

 

 

-

 

 

12,801

 

Home equity lines of credit

 

420

 

 

342

 

 

7,539

 

 

8,301

 

 

90,449

 

 

98,750

 

 

 

7,491

 

 

48

 

Personal

 

12,741

 

 

9,439

 

 

27,861

 

 

50,041

 

 

1,426,944

 

 

1,476,985

 

 

 

27,861

 

 

-

 

Auto

 

53,186

 

 

12,696

 

 

15,736

 

 

81,618

 

 

3,050,610

 

 

3,132,228

 

 

 

15,736

 

 

-

 

Other

 

304

 

 

483

 

 

15,072

 

 

15,859

 

 

112,549

 

 

128,408

 

 

 

14,901

 

 

171

Total

$

361,661

 

$

142,054

 

$

1,765,838

 

$

2,269,553

 

$

27,115,643

 

$

29,385,196

 

 

$

737,774

 

$

1,028,064

Variance

 

 

 

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

$

24,312

 

$

-

 

$

(1,585)

 

$

22,727

 

$

(25,624)

 

$

(2,897)

 

 

$

(1,585)

 

$

-

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-owner occupied

 

6,106

 

 

18,263

 

 

(890)

 

 

23,479

 

 

79,431

 

 

102,910

 

 

 

(890)

 

 

-

 

Owner occupied

 

3,725

 

 

890

 

 

(2,260)

 

 

2,355

 

 

(103,714)

 

 

(101,359)

 

 

 

(2,260)

 

 

-

Commercial and industrial

 

(244)

 

 

1,124

 

 

(2,569)

 

 

(1,689)

 

 

(168,789)

 

 

(170,478)

 

 

 

(2,575)

 

 

6

Construction

 

(9,563)

 

 

-

 

 

(6,657)

 

 

(16,220)

 

 

(2,252)

 

 

(18,472)

 

 

 

(6,657)

 

 

-

Mortgage

 

(40,062)

 

 

(17,658)

 

 

(216,960)

 

 

(274,680)

 

 

192,852

 

 

(81,828)

 

 

 

(23,633)

 

 

(193,327)

Leasing

 

(1,577)

 

 

(19)

 

 

(401)

 

 

(1,997)

 

 

49,292

 

 

47,295

 

 

 

(401)

 

 

-

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit cards

 

(1,726)

 

 

(736)

 

 

(2,022)

 

 

(4,484)

 

 

(37,719)

 

 

(42,203)

 

 

 

-

 

 

(2,022)

 

Home equity lines of credit

 

(299)

 

 

(332)

 

 

(638)

 

 

(1,269)

 

 

(4,320)

 

 

(5,589)

 

 

 

(636)

 

 

(2)

 

Personal

 

(1,369)

 

 

(2,523)

 

 

(1,044)

 

 

(4,936)

 

 

(45,310)

 

 

(50,246)

 

 

 

(1,044)

 

 

-

 

Auto

 

(5,790)

 

 

(3,913)

 

 

(331)

 

 

(10,034)

 

 

80,943

 

 

70,909

 

 

 

(331)

 

 

-

 

Other

 

56

 

 

(108)

 

 

417

 

 

365

 

 

(1,975)

 

 

(1,610)

 

 

 

380

 

 

37

Total

$

(26,431)

 

$

(5,012)

 

$

(234,940)

 

$

(266,383)

 

$

12,815

 

$

(253,568)

 

 

$

(39,632)

 

$

(195,308)

Popular, Inc.

Financial Supplement to First Quarter 2021 Earnings Release

Table K - Non-Performing Assets

(Unaudited)

 

 

 

 

 

 

 

 

 

 

Variance

(Dollars in thousands)

31-Mar-21

As a