POPULAR, INC.

Signatures

Forward-Looking Statements

This

Form 10-Q

contains “forward-looking

statements” within

the meaning

of the

U.S. Private

Securities Litigation

Reform Act

of

1995,

including,

without

limitation,

about

Inc.’s

(the

“Corporation,”

“Popular,”

“we,”

“us,”

“our”)

business,

financial condition, results

of operations, plans,

objectives and future

performance. These statements

are not

guarantees of future

performance,

are

based

on

current

expectations

and,

by

their

nature,

involve

risks,

uncertainties,

and

assumptions. Potential

factors, some

of which

are beyond

control, could

cause actual

results to

differ materially

from those expressed in, or implied by, such forward-looking statements. Risks and uncertainties include without limitation the effect

of competitive and

economic factors, and our

reaction to those factors,

the adequacy of

the allowance for loan

losses, delinquency

trends, market

risk and

the impact

of interest

rate changes

(including on

our cost

of deposits),

capital markets

conditions, capital

adequacy

and

liquidity,

and

the

effect

of

legal

and

and

new

standards

on

the

financial condition

and results

of operations.

All statements

contained herein

that

are not

clearly

historical in

nature are

forward-

looking, and the words “anticipate,” “believe,” “continues,”

“expect,” “estimate,” “intend,” “project” and similar expressions

and future

or conditional verbs

such as

“will,” “would,” “should,”

“could,” “might,” “can,”

“may” or similar

expressions are

generally intended to

identify forward-looking statements.

Various factors, some of which

are beyond Popular’s control, could cause actual results to differ materially from those expressed in,

or implied by, such forward-looking statements. Factors that might cause such a

difference include, but are not limited to:

●

the

rate

of

growth

or

decline

in

the

economy

and

employment

levels,

as

well

as

general

and

in

the

geographic

areas

we

serve

and,

in

particular,

in

the

Commonwealth

of

Puerto

Rico

(the

“Commonwealth” or “Puerto Rico”), where a significant

portion of our business is concentrated;

●

adverse

economic conditions,

including high

levels

of

inflation, that

adversely affect

housing

prices, the

job

market,

consumer confidence

and spending

habits which

may affect

in turn,

among other

things, our

level of

non-performing

assets, charge-offs and provision expense;

●

changes in interest rates and market liquidity,

which may reduce interest margins, impact funding sources, reduce loan

originations, affect

our ability

to originate

and distribute

financial products

in the

primary and

secondary markets

and

impact the value of our investment portfolio and

our ability to return capital to our stockholders;

●

the

impact

of

bank

failures

or

adverse

developments

at

other

banks

and

related

media

coverage

of

the

banking industry in general on investor and depositor

sentiment regarding the stability and liquidity of

banks;

●

the impact of the current fiscal and economic challenges of Puerto Rico and the measures

taken and to be taken by the

Puerto

Rico

and

the

Federally-appointed

oversight

board

on

the

economy,

our

customers

and

our

business;

●

the

public sector

deposits held

at

the Corporation,

whose future

balances are

difficult

to

predict

and

may

be

by

factors

such

as

the

amount

of

Federal

funds

received

by

the

P.R.

and

the

rate

of

expenditure

of

such

funds,

as

well

as

the

condition,

and

cash

management practices of the Puerto Rico Government

and its instrumentalities;

●

unforeseen or

catastrophic events,

including extreme

weather events

such as

hurricanes and

other natural

disasters,

man-made disasters, acts of violence or war or

pandemics, epidemics and other health-related

crises, or the fear of any

such event

occurring, any of

which could cause

adverse consequences for

our business, including,

but not

limited to,

disruptions in our operations;

●

our ability to

achieve the expected

benefits from our

transformation initiative, including

our ability to

achieve projected

earnings, efficiencies and

return on tangible

common equity and

accurately anticipate costs

and expenses associated

therewith;

●

the fiscal and monetary policies of the federal government

and its agencies;

●

federal

bank regulatory

and supervisory

policies, including

required levels

of

capital, liquidity,

resolution-

related requirements and the impact of other proposed

capital standards on our capital ratios;

●

changes

in

and

uncertainty

federal

funding,

tax,

trade

and

tariff

policies,

and

rulemaking,

supervision,

examination and enforcement priorities of the federal

administration;

●

increases

to

or

Federal

Deposit

Insurance

(“FDIC”)

assessments,

such

as

the

special

assessment implemented

by the

FDIC to

recover the

losses to

the deposit

insurance fund

(“DIF”) resulting

receiverships of Silicon Valley Bank and Signature Bank;

●

regulatory approvals

that may

be necessary

to undertake

certain actions

or consummate

strategic transactions,

such

as acquisitions and dispositions;

●

the

relative strength

or

weakness

of

the

consumer and

commercial credit

sectors

and

of

the

real

estate markets

in

Puerto Rico and the other markets in which

our borrowers are located;

●

a deterioration in the credit quality of our

clients, customers and counterparties;

●

the performance of the stock and bond markets;

●

competition in the financial services industry;

●

possible legislative, tax or regulatory changes;

●

a failure

in or

breach of

our operational

or security

systems or

infrastructure or

those of

Evertec, Inc.,

our provider

of

core financial

transaction processing and

information technology services,

or of

third parties

providing services

to us,

as

a

result

of

cyberattacks,

e-fraud,

denial-of-services

and

computer

intrusion,

in,

among

other

things, loss or breach of customer data, disruption

of services, reputational damage or additional

costs to Popular;

●

changes in market rates and prices which may

adversely impact the value of financial assets

and liabilities;

●

potential judgments,

claims, damages,

penalties, fines,

enforcement actions

and

reputational damage

resulting from

pending or future litigation and regulatory or government

investigations or actions;

●

changes in accounting standards, rules and interpretations;

●

our ability to grow our core businesses;

●

decisions to downsize, sell or close branches or business

units or otherwise change our business mix;

and

●

management’s ability to identify and manage these and

other risks.

Moreover, the

outcome of any

legal and

regulatory proceedings, as

discussed in “Part

II, Item

1. Legal Proceedings,”

is inherently

uncertain and depends on judicial interpretations of law and the findings of regulators, judges and/or juries. Investors should refer to

the Corporation’s Annual

Report on Form

10-K for the

year ended December 31,

2024 (the “2024

Form 10-K”), as

well as “Part

II,

Item 1A” of our Quarterly

Report on this Form 10-Q for

a discussion of such factors and

certain risks and uncertainties to which the

Corporation is subject.

All forward-looking

statements included

in this

Form 10-Q

are based

upon information

available to

Popular as

of the

date of

this

Form 10-Q, and other than as

required by law, including the

requirements of applicable securities laws, we assume no

obligation to

update or revise any such forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date

of such statements.

OF FINANCIAL CONDITION

[UNAUDITED]

(In thousands, except share information)

Assets:

$

400,631

$

419,638

Money market investments:

Time deposits with other banks

Total money market investments

Trading account debt securities, at fair value

29,643

32,831

Debt securities available-for-sale, at fair

value:

Pledged securities with creditors’ right to repledge

31,022

30,486

Other debt securities available-for-sale

20,459,190

18,215,417

Debt securities held-to-maturity, at amortized cost:

Pledged securities with creditors’ right to repledge

27,560

27,405

Other debt securities held-to-maturity

7,514,164

7,730,672

Debt securities held-to-maturity (fair

value 2025 - $

; 2024 - $

)

7,541,724

7,758,077

Less – Allowance for credit losses

5,999

5,317

Debt securities held-to-maturity, net

Equity securities (realizable value 2025 -

$

222,907

; 2024 - $

208,663

)

222,391

208,166

Loans held-for-sale, at fair value

2,898

5,423

38,611,834

37,522,995

Less – Unearned income

426,656

415,343

769,485

746,024

Total loans held-in-portfolio, net

37,415,693

36,361,628

Premises and equipment, net

649,191

601,787

Other real estate

46,126

57,268

Accrued income receivable

274,867

263,389

Mortgage servicing rights, at fair value

103,077

108,103

1,745,052

1,797,759

802,954

802,954

Other intangible assets

5,844

6,826

$

$

Liabilities and Stockholders’ Equity

Liabilities:

$

$

52,102,877

49,744,790

56,043

54,833

550,000

225,000

808,451

896,293

1,479,087

1,371,846

Total liabilities

70,111,072

67,432,317

Commitments and contingencies (Refer

to Note 20)

Stockholders’ equity:

Preferred stock,

30,000,000

shares authorized;

885,726

shares issued and outstanding (2024 -

885,726

)

22,143

22,143

Common stock, $

0.01

par value;

170,000,000

shares authorized;

104,889,180

shares issued (2024 -

104,849,460

) and

shares outstanding (2024 -

70,141,291

)

1,049

1,048

Surplus

4,908,693

Retained earnings

4,570,957

Treasury stock - at cost,

36,951,712

shares (2024 -

34,708,169

)

(2,228,535)

Accumulated other comprehensive loss, net

of tax

(1,661,240)

Total stockholders’ equity

Total liabilities and stockholders’ equity

$

$

The accompanying notes are an integral part of

these Consolidated Financial Statements.

OF OPERATIONS

Interest income:

Loans

$

684,587

$

648,739

$

1,351,260

$

1,287,469

69,532

88,316

139,698

176,832

189,753

184,852

369,912

351,747

Total interest income

943,872

921,907

1,860,870

1,816,048

Interest expense:

295,058

339,939

592,921

669,435

Short-term borrowings

5,300

1,126

6,726

2,318

Long-term debt

11,965

12,530

24,077

25,239

Total interest expense

312,323

353,595

623,724

696,992

631,549

568,312

48,941

46,794

113,022

119,392

Net interest income after provision for credit losses

582,608

521,518

1,124,124

999,664

Non-interest income:

38,826

37,526

77,880

74,968

Other service fees

100,522

96,863

195,030

191,135

Mortgage banking activities (Refer to Note 9)

4,872

5,723

8,561

10,083

Net gain, including impairment on equity securities

1,862

1,448

1,422

Net gain on trading account debt securities

1,058

Adjustments to indemnity reserves on loans sold

(25)

Other operating income

21,737

25,386

36,268

51,903

Total non-interest income

168,477

166,306

320,538

330,124

Operating expenses:

229,355

197,424

442,068

412,801

Net occupancy expenses

29,140

27,692

56,358

55,733

Equipment expenses

5,789

9,662

11,091

19,229

Other taxes

18,632

15,333

37,357

29,708

28,108

37,744

54,933

66,662

Technology and software expenses

84,696

79,752

168,364

159,214

37,861

39,096

75,642

73,290

Communications

5,010

4,357

9,914

8,914

Business promotion

26,385

25,449

50,060

46,438

Deposit insurance

9,407

10,581

19,442

34,468

Other real estate owned (OREO) income

(4,124)

(5,750)

(7,454)

(11,071)

22,117

27,502

45,016

55,774

1,529

Total operating expenses

492,761

469,576

963,773

952,689

258,324

218,248

480,889

377,099

47,884

40,459

92,947

96,027

Net Income

$

210,440

$

177,789

$

387,942

$

281,072

Net Income Applicable to Common Stock

$

210,087

$

177,436

$

387,236

$

280,366

Net Income per Common Share – Basic

$

3.09

$

2.47

$

5.64

$

3.90

Net Income per Common Share – Diluted

$

3.09

$

2.46

$

5.64

$

3.90

The accompanying notes are an integral part of

these Consolidated Financial Statements.

OF COMPREHENSIVE INCOME

Quarters ended,

Six months ended,

$

210,440

$

177,789

$

387,942

$

281,072

Other comprehensive income (loss) before

tax:

Foreign currency translation adjustment

7,499

(3,855)

Amortization of net losses of pension and

2,272

3,618

4,545

7,236

Unrealized holding gains (losses) on debt securities

arising during the period

58,972

22,422

224,957

(50,608)

Amortization of unrealized losses of debt

securities transfer from available-for-

46,242

44,421

91,552

88,430

Other comprehensive income before tax

114,985

70,626

321,908

41,203

(20,655)

(15,722)

(56,325)

(23,954)

Total other comprehensive income, net of tax

94,330

54,904

265,583

17,249

Comprehensive income, net of tax

$

304,770

$

232,693

$

653,525

$

298,321

Tax effect allocated to each component of other comprehensive

income:

Six months ended,

Amortization of net losses of pension and

$(

)

$(

1,357

)

$(

1,704

)

$(

2,714

)

Unrealized holding losses on debt securities

arising during the period

(10,555)

(5,481)

(36,311)

(3,555)

Amortization of unrealized losses of debt

securities transfer from available-for-

(9,248)

(8,884)

(18,310)

(17,685)

$

(20,655)

$

(15,722)

$

(56,325)

$

(23,954)

The accompanying notes are an integral

part of the Consolidated Financial Statements.

OF CHANGES IN STOCKHOLDERS’ EQUITY

other

Common

Preferred

Retained

Treasury

comprehensive

stock

stock

Surplus

earnings

stock

loss

Total

Balance at March 31, 2024

$

1,048

$

22,143

$

4,847,466

$

4,253,030

$

(2,013,187)

$

(1,933,186)

$

5,177,314

177,789

177,789

1,768

1,768

[1]

(44,944)

(44,944)

(353)

(353)

(3,200)

(3,200)

3,513

5,887

9,400

54,904

54,904

$

1,048

$

22,143

$

4,852,747

$

4,385,522

$

(2,010,500)

$

$

5,372,678

Balance at March 31, 2025

$

1,049

$

22,143

$

4,912,886

$

4,699,697

$

(2,346,093)

$

(1,489,987)

$

5,799,695

210,440

210,440

1,760

1,760

[1]

(47,826)

(47,826)

(353)

(353)

[2]

(117,075)

(117,075)

5,304

7,743

13,047

94,330

94,330

$

1,049

$

22,143

$

$

$

$

$

[1]

Dividends declared per common share during the quarter

ended June 30, 2025 - $

0.7

0 (2024 - $

0.62

).

[2]

Includes common stock repurchases

of $

.0 million as part of

a repurchase authorization up

to $

million announced by the

Corporation on

July 24, 2024 (the "2024 Repurchase Program"). Refer to Note

17 for additional information.

OF CHANGES IN STOCKHOLDERS’ EQUITY

other

Common

Preferred

Retained

Treasury

comprehensive

stock

stock

Surplus

earnings

stock

loss

Total

Balance at December 31, 2023

$

1,048

$

22,143

$

4,843,399

$

4,194,851

$

(2,018,957)

$

(1,895,531)

$

5,146,953

281,072

281,072

3,567

3,567

[1]

(89,695)

(89,695)

(706)

(706)

(6,776)

(6,776)

5,781

15,233

21,014

17,249

17,249

$

1,048

$

22,143

$

4,852,747

$

4,385,522

$

(2,010,500)

$

$

5,372,678

Balance at December 31, 2024

$

1,048

$

22,143

$

4,908,693

$

4,570,957

$

(2,228,535)

$

(1,661,240)

$

387,942

387,942

3,529

3,530

[1]

(96,235)

(96,235)

(706)

(706)

[2]

(243,055)

(243,055)

7,728

16,165

23,893

265,583

265,583

$

1,049

$

22,143

$

$

$

$

$

[1]

Dividends declared per common share during the six months

ended June 30, 2025 - $

1.40

(2024 - $

1.24

).

[2]

Includes common stock repurchases of $

234.3

million as part of the 2024 Repurchase Program. Refer

to Note 17 for additional information.

Disclosure of changes in number of shares:

Preferred Stock:

Balance at beginning and end of period

885,726

885,726

Common Stock – Issued:

104,849,460

104,767,348

39,720

44,623

Balance at end of period

104,889,180

104,811,971

Treasury stock

(36,951,712)

(32,446,045)

Common Stock – Outstanding

72,365,926

The accompanying notes are an integral part of these Consolidated

OF CASH FLOWS

Cash flows from operating activities:

$

387,942

$

281,072

Adjustments to reconcile net income to net cash provided

by operating activities:

113,022

119,392

1,529

Depreciation and amortization of premises and equipment

25,319

31,249

Net accretion of discounts and amortization of premiums and

deferred fees

(136,208)

(127,770)

Interest capitalized on loans subject to the temporary payment

moratorium or loss mitigation alternatives

(2,822)

(4,047)

Share-based compensation

21,930

16,391

Fair value adjustments on mortgage servicing rights

5,523

5,384

Adjustments to indemnity reserves on loans sold

(293)

Earnings from investments under the equity method, net

of dividends or distributions

(2,871)

Deferred income tax expense

20,832

19,702

Gain on:

Disposition of premises and equipment and other productive

assets

(91)

(6,295)

Sale of loans, including valuation adjustments on loans

held-for-sale and mortgage banking activities

(156)

(76)

Sale of equity method investment

(1,226)

Sale of foreclosed assets, including write-downs

(5,076)

(10,575)

Acquisitions of loans held-for-sale

(2,332)

(1,767)

Proceeds from sale of loans held-for-sale

15,584

19,358

Net originations on loans held-for-sale

(12,137)

(22,580)

Net decrease (increase) in:

Trading debt securities

10,040

6,735

(1,411)

(4,445)

Accrued income receivable

(11,419)

(17,340)

(19,371)

(8,463)

Net increase (decrease) in:

Interest payable

2,584

3,145

Pension and other postretirement benefits obligation

2,191

3,732

1,434

(59,481)

Total adjustments

27,051

(39,068)

Net cash provided by operating activities

414,993

242,004

Cash flows from investing activities:

Net decrease in money market investments

40,765

147,650

Purchases of investment securities:

Available-for-sale

(18,905,199)

(17,231,900)

Equity

(25,811)

(1,667)

Proceeds from calls, paydowns, maturities and redemptions

of investment securities:

Available-for-sale

17,145,332

15,375,714

Held-to-maturity

303,212

304,653

Proceeds from sale of investment securities:

Equity

14,497

4,046

Net disbursements

on loans

(912,037)

(287,684)

Proceeds from sale of loans

40,983

17,640

Acquisition of loan portfolios

(319,297)

(384,479)

Return of capital from equity method investments

Net proceeds from sale of equity method investment

1,226

Acquisition of premises and equipment and other productive

assets

(96,200)

(95,412)

Proceeds from sale of:

Premises and equipment and other productive assets

4,409

Foreclosed assets

47,590

58,979

Net cash used in investing activities

(2,664,595)

(2,087,772)

Cash flows from financing activities:

Net increase in:

2,334,656

1,912,286

1,210

14,300

325,000

Payments of notes payable

(88,522)

(46,000)

Principal payments of finance leases

(1,829)

(1,774)

Proceeds from issuances of common stock

3,530

3,567

Dividends paid

(98,661)

(90,151)

Net payments for repurchase of common stock

(236,203)

(452)

Payments related to tax withholding for share-based compensation

(7,983)

(6,324)

Net cash provided by financing activities

2,231,198

1,785,452

Net decrease in cash and due from banks, and restricted

cash

(18,404)

(60,316)

Cash and due from banks, and restricted cash at beginning

of period

429,406

427,575

Cash and due from banks, and restricted cash at the end of

the period

$

411,002

$

367,259

The accompanying notes are an integral part of these Consolidated

Notes to Consolidated Financial

(Unaudited)

Note 1 -

Nature of operations

Note 2 -

Basis of presentation

Note 3 -

New accounting pronouncements

Note 4 -

Restrictions on cash and due from banks and

certain securities

Note 5 -

Note 6 -

Debt securities held-to-maturity

Note 7 -

Loans

Note 8 -

Allowance for credit losses – loans held-in-

Note 9 -

Note 10 -

Transfers of financial assets and mortgage

servicing assets

Note 11 -

Note 12 -

Note 13 -

Goodwill and other intangible assets

Note 14 -

Note 15 -

Note 16 -

Note 17 -

Note 18 -

Other comprehensive income

Note 19 -

Guarantees

Note 20 -

Commitments and contingencies

Note 21-

Non-consolidated variable interest entities

Note 22 -

Related party transactions

Note 23 -

Fair value measurement

Note 24 -

Fair value of financial instruments

Note 25 -

Net income per common share

Note 26 -

Revenue from contracts with customers

Note 27 -

Leases

Note 28 -

Pension and postretirement benefits

Note 29 -

Stock-based compensation

Note 30 -

Income taxes

Note 31 -

Supplemental disclosure on the consolidated

statements of cash flows

Note 32 -

Segment reporting

Note 1 – Nature of Operations

Inc. (the

“Corporation” or

“Popular”) is

a diversified,

publicly owned

financial holding

company subject

to the

supervision

and

regulation

of

the

Board

of

Governors

of

the

Federal

Reserve

System.

The

has

in

Puerto

Rico,

the

mainland United

States (“U.S.”)

and U.S.

and British

Virgin Islands.

In Puerto

Corporation provides retail,

mortgage and

commercial banking services and auto and equipment leasing and financing through its principal banking subsidiary, Banco Popular

de Puerto

Rico (“BPPR”),

as well

as broker-dealer

and insurance

services through

specialized subsidiaries. In

mainland,

the

Corporation provides

retail, mortgage,

commercial banking

services, as

well as

equipment leasing

and

financing, through

its

New

York-chartered

banking

subsidiary,

Popular

Bank

(“PB”

or

“Popular U.S.”),

which

has

branches

located

in

New

York,

New

Jersey, and Florida.

Note 2 – Basis of Presentation

Basis of Presentation

The (unaudited) interim Consolidated Financial Statements are, in the opinion of management, a fair statement of the results

for the

periods reported.

The consolidated statement

of financial condition

presented as

of December 31,

2024 was

derived from

audited

Consolidated Financial Statements of the Corporation

for the year ended December 31, 2024.

Certain

and

notes

to

the

which

would

normally

be

in

prepared in

accordance with

Accounting Principles

Generally Accepted

in the

of America

(U.S. GAAP),

condensed or omitted from the unaudited financial statements pursuant

to the rules and regulations of the

Securities and Exchange

Commission.

Accordingly,

these

should

be

read

in

conjunction

with

the

audited

for the

year ended

2024,

the 2024

Form 10-K.

Operating results

for the

interim periods disclosed herein are not necessarily

indicative of the results that may be expected

for a full year or any future period.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial

statements in conformity with

accounting principles generally accepted in

the United States

of America

requires management to make

estimates and assumptions that

affect the reported

amounts of assets and

liabilities and contingent

assets

and

liabilities

at

the

date

of

the

statements,

and

the

reported

amounts

of

revenues

and

during

the

reporting period. Actual results could differ from those estimates.

Note 3 - New accounting pronouncements

Recently Adopted Accounting Standards Updates

FASB ASU 2025-02,

Liabilities (Topic 405) -

Amendments to SEC

Paragraphs Pursuant to

SEC Staff Accounting

Bulletin No. 122

The

Financial Accounting

Standards Board

("FASB")

issued

Accounting

Update

("ASU")

2025-02

in

March

2025,

which

amends

the

in

Accounting

Standards

("ASC")

450-10-

S99-1

by

removing

the

interpretative

of

Section

FF

of

Topic

in

the

Staff Accounting Bulletin Series ("SAB") text

that

addressed

the

for

obligations to

safeguard crypto-assets

held

by platform

users to

align the

ASC with

the

latest

SAB

directive,

ensuring

consistency and clarity.

March 18, 2025

The

was

not

by

the

adoption of

this

ASU

since

it does

not hold crypto-assets.

FASB ASU 2024-02,

Improvements—

Amendments to Remove

References to the

Concepts Statements

The

FASB

issued

ASU

2024-02

in

March

2024, which

removes various

references to

concept statements from the ASC. The ASU

intends

to

simplify

the

and

distinguish

between

nonauthoritative

and

authoritative guidance.

The

was

not

by

the adoption of this ASU since it did not

provide for

accounting changes

or new

or

requirements.

The

ASU

eliminated

references

within

the

ASC

to

the

concept

statements,

which

is

considered non-authoritative guidance.

FASB ASU 2024-01,

Compensation - Stock

Compensation (Topic 718)

• Scope Application of

Profits Interest and Similar

Awards

The

FASB

issued

ASU

2024-01

in

March

2024,

which

amends

ASC

Topic

by

an

illustrative

example

to

demonstrate how

an entity

would apply

the

scope

in

paragraph

718-10-15-3

to determine whether profits interest awards

should be accounted

for in accordance

with

ASC

Topic

The

ASU

is

intended

to

reduce complexity and diversity in practice.

The

was

not

by

the

of

this

ASU

since

the

share

awards

of

the

continue

to

meet

the

requirements of ASC 718-10-15-3.

FASB ASU 2023-08,

Intangibles - Goodwill and

Other - Crypto Assets

(Subtopic 350-60) -

Accounting for and

Disclosure of Crypto

Assets

The

FASB

issued

ASU

2023-08

in

2023,

which

amends

ASC

Subtopic

350-60

by

that

crypto

assets

are

measured

at

fair

value

in

the

statement

of

each

period

with

changes

from

remeasurement

being

in

net

income.

The

ASU

also

requires

enhanced

for

both

annual

and

interim

periods

to

provide

investors

with

relevant information

to

analyze and

assess

the

and

risk

of

individual crypto asset holdings.

The

was

not

by

the

adoption of

this

ASU

since

it does

not hold crypto-assets.

Recently Adopted Accounting Standards Updates

FASB ASU 2023-05,

Business Combinations -

Joint Venture Formations

(Subtopic 805-60) -

Recognition and initial

measurement

The

FASB

issued

ASU

2023-05

in

August

2023, which

amends ASC

Subtopic 805-60

to include specific

guidance about how

joint

ventures

should

recognize

and

initially

measure

assets

contributed

and

liabilities

assumed.

The

amendments

require

that

a

joint venture, upon formation, recognize and

initially

measure its

liabilities at

fair value.

The

was

not

by

the

of

this

ASU

but

it

will

this

for

the

initial

measurement of assets and liabilities of

newly

created

joint

ventures

prospectively.

Accounting Standards Updates Not Yet Adopted

FASB ASU 2025-05,

Financial Instruments -

Credit Losses (Topic 326)

• Measurement of Credit

Losses for Accounts

Receivables and Contract

Assets

The

FASB

issued

ASU

2025-05

in

July

2025,

which

permits

to

elect

a

practical

expedient

when

for

current

accounts

receivable

and

current

contract

assets

arising

from

accounted

for

under

Topic

606,

Revenue

from

Contracts

with

Customers.

This

practical

expedient

establishes

that,

in

developing

reasonable

and

supportable

forecasts

as

part

of

credit

losses,

assume

that

current

conditions as

of the

balance sheet

date do

not

change

for

the

remaining

life

of

the

asset.

January 1, 2026

any

impact

that

the

of

this

will

have

on

its

and

and

FASB ASU 2025-04,

Compensation—Stock

Compensation (Topic 718)

and Revenue from

Contracts with Customers

(Topic 606) - Clarifications

to Share-Based

Consideration Payable to

a Customer

The

FASB

issued

ASU

2025-04

in

May

2025,

which

the

for

awards

granted

as

payable

to

a

customer.

The

ASU expands

the definition

of performance

for

under ASC 718 and eliminates the forfeiture

policy election for

service conditions. It

also

confirms

that

the

constraint

in

ASC

does

not

apply

to

such awards.

expect to

be

by

the

of

this

ASU

since

it

does

not

grant

payment awards to customers.

FASB ASU 2025-03,

Business Combinations

(Topic 805) and

Consolidation (Topic 810)

• Determining the

Accounting Acquirer in the

Acquisition of a Variable

Interest Entity

The

FASB

issued

ASU

2025-03

in

May

2025 which

requires that

an entity

the

factors

in

paragraphs

805-10-55-12

through

55-15

when

it

is

involved

in

an

acquisition transaction

effected primarily

by

exchanging

equity

interests when

the

legal

acquiree is

a variable

interest entity

("VIE")

that

meets

the

definition

of

a

to

determine

which

entity

is

the

acquirer.

This

replaces

the

requirement

that

the

primary

beneficiary

always is the acquirer.

any

impact

that

the

of

this

will

have

on

its

and

and

FASB ASU 2024-04,

Debt—Debt with

Conversion and Other

Options (Subtopic 470-

20. • Induced Conversions

of Convertible Debt

Instruments

The

FASB

issued

ASU

2024-04

in

November

2024,

which

the

for

determining

whether

certain

settlements

of

convertible

debt

instruments should

be accounted

for as

an

induced

conversion.

Also

it

makes

clarifications

to

assist

stakeholders in

applying the

guidance. The

ASU

that

the

incorporation,

elimination,

or

modification

of

a

volume-

average

price

("VWAP")

formula

does

not

automatically

cause

a

to

be

accounted

for

as

an

extinguishment

and

that

the

induced

conversion

applies to a convertible

debt instrument that

is not currently

convertible as long as

it had

a substantive

conversion feature

as of

both

its

issuance

date

and

the

date

the

inducement offer is accepted.

January 1, 2026

any

impact

that

the

of

this

will

have

on

its

and

and

Accounting Standards Updates Not Yet Adopted

FASB ASU 2024-03,

Income Statement—

Reporting Comprehensive

Income—Expense

Disaggregation

Disclosures (Subtopic

220-40) - Disaggregation

of Income Statement

Expenses (As updated by

ASU 2025-01)

The

FASB

issued

ASU

2024-03

in

November

2024,

which

requires

public

to

disclose

about

specific

expense

in

the

notes to

financial statements

at interim

and

annual

periods

to

improve

financial transparency.

For fiscal years

beginning on

For interim periods

within fiscal years

beginning after

January 1, 2028

any

impact

that

the

of

this

will

have

on

its

and

and

FASB ASU 2023-09,

Income Tax (Topic

Improvements to Income

Tax Disclosures

The

FASB

issued

ASU

2023-09

in

December 2023,

which amends

ASC Topic

by

enhancing

rate

reconciliation

and

the

disclosure of

income taxes paid, income (or

loss)

before

income

tax

expense

and

income

tax

expense

disaggregated

by

national, state and foreign level. Disclosures

that

no

longer

were

considered

cost

beneficial

or

relevant

were

removed

from

ASC Topic 740.

For fiscal years

beginning on

The

will

prospectively

adopt

ASU

2023-09

for

it's

in

the

Form

10-K.

The

of

this standard

will result

in the

inclusion

of

certain

new

in

the

effective

income

tax

rate

and

income

tax expense tabular disclosures, as well

as the

disclosure of income

taxes paid,

within the income taxes note.

FASB ASU 2023-06,

Disclosure Improvements -

Codification Amendments

in Response to the SEC’s

Disclosure Update and

Simplification Initiative

The FASB

issued ASU

2023-06 in

October

which

modifies

the

or

of

various

subtopics

in

the

with

the

purpose

of

aligning

U.S.

GAAP

with

those

of

the

SEC

under

Regulation S-X and S-K.

The date on which

the SEC removes

related disclosure

requirements from

Regulation S-X or

Regulation S-K. If by

June 30, 2027, the

SEC has not

removed the

requirements from

Regulation S-X or

Regulation S-K, the

pending content of

the related

amendment will be

removed from the

Codification and will

not become

effective for any

entity.

expect to

be

by

the

of

this

ASU

since

it

is

subject

to

SEC's

current

and

requirements under Regulation S-X and

S-K.

Note 4 - Restrictions on cash and due

from banks and certain securities

BPPR is

required by

regulatory agencies

to maintain

average reserve

balances with

the Federal

Reserve Bank

of New

York

(the

“Fed”) or other banks. Required average reserve

balances in BPPR amounted to $

2.7

billion at June 30, 2025 (December 31, 2024 -

$

2.6

billion). Cash and

due from banks,

as well

as other highly

liquid securities, are

used to cover

these required average

reserve

balances.

At June

held $

restricted assets

in the

form of

funds deposited

in money

market accounts,

debt

for

sale

and

equity

31,

$

The

assets

held

in

debt

securities available for sale and equity securities consist primarily of assets

held for the Corporation’s non-qualified retirement plans

and fund deposits guaranteeing possible liens or encumbrances

over the title of insured properties.

Note 5 – Debt securities available-for-sale

The

tables

present

the

amortized

cost,

gross

gains

and

losses,

fair

value,

average

yield

and

contractual maturities of debt securities available-for-sale

at June 30, 2025 and December 31,

Gross

Gross

Fair

average

cost

gains

losses

value

yield

$

11,617,164

$

$

23,332

$

11,593,913

3.66

%

3,823,444

20,739

25,300

3,818,883

3.80

15,440,608

20,820

48,632

15,412,796

3.69

7,520

7,321

1.52

13,024

12,398

2.52

97,807

7,193

90,713

2.90

mortgage obligations - federal agencies

118,351

8,018

110,432

2.77

15,394

15,246

2.54

83,070

2,438

80,639

2.28

696,835

31,836

665,289

2.38

5,174,509

970,159

4,205,060

1.67

securities - federal agencies

5,969,808

1,008

1,004,582

4,966,234

1.77

Other

4.38

4.84

Total other

4.53

[1]

$

21,529,517

$

21,927

$

1,061,232

$

3.15

%

[1]

15.5

billion pledged to secure government and trust

deposits, assets sold under agreements to repurchase, credit

facilities and loan

servicing agreements that the secured parties are not permitted

to sell or repledge the collateral, of which $

14.3

billion serve as collateral for

public funds.

The Corporation had unpledged Available

for Sale securities with a fair value of $

.0 billion that could be used to increase its

borrowing facilities.

Gross

Gross

Fair

average

cost

gains

losses

value

yield

$

10,555,397

$

1,282

$

46,275

$

10,510,404

3.33

%

2,547,936

63,381

2,484,706

3.07

13,103,333

1,433

109,656

12,995,110

3.28

10,538

10,193

1.53

15,334

14,430

2.24

104,168

8,639

95,661

2.76

mortgage obligations - federal agencies

130,040

9,888

120,284

2.60

1.65

79,542

2,700

76,850

2.35

733,506

45,078

688,510

2.37

5,468,448

1,106,657

4,362,128

1.67

securities - federal agencies

6,282,272

1,154,440

5,128,259

1.75

Other

5.00

1,750

1,750

5.50

Total other

2,250

2,250

5.39

[1]

$

19,517,895

$

1,992

$

1,273,984

$

2.78

%

[1]

13.9

billion pledged to secure government and trust deposits,

assets sold under agreements to repurchase, credit facilities

and loan

servicing agreements that the secured parties are not permitted

to sell or repledge the collateral, of which $

12.9

billion serve as collateral for

public funds. The Corporation had unpledged Available

for Sale securities with a fair value of

$

4.3

billion that could be used to increase its

borrowing facilities.

The weighted

average yield

on debt

securities available-for-sale

is based

on amortized

cost; therefore,

it

give

effect to

changes in fair value.

Securities

not

due

on

a

single

date,

such

as

and

obligations,

are

based

on

the

period

of

final

maturity.

The

of

obligations, mortgage-backed securities

and certain

other securities

may differ

from their

contractual maturities

because they

may

be subject to prepayments or may be called

by the issuer.

2025, the Corporation did not

intend to sell or

believed it was more

likely than not that

it would be required

to sell debt

securities classified

as available-for-sale. There

were

no

available-for-sale sold during

the six

months

ended June 30, 2025 and 2024.

The

tables

present

the

fair

value

and

gross

losses

of

debt

available-for-sale,

aggregated by investment category and length of

time that individual securities have been in a continuous

unrealized loss position at

Less than 12 months

12 months or more

Total

Gross

Gross

Gross

Fair

Fair

Fair

value

losses

value

losses

value

losses

$

8,477,646

$

11,934

$

2,097,347

$

36,698

$

10,574,993

$

48,632

6,592

92,871

7,997

99,463

8,018

Mortgage-backed securities -federal agencies

50,680

2,594

4,863,122

1,001,988

4,913,802

1,004,582

available-for-sale in an unrealized loss position

$

8,534,918

$

14,549

$

7,053,340

$

1,046,683

$

15,588,258

$

1,061,232

Less than 12 months

12 months or more

Total

Gross

Gross

Gross

Fair

Fair

Fair

value

losses

value

losses

value

losses

$

2,309,894

$

24,646

$

3,638,092

$

85,010

$

5,947,986

$

109,656

4,878

102,160

9,861

107,038

9,888

70,777

3,175

5,031,414

1,151,265

5,102,191

1,154,440

available-for-sale in an unrealized loss position

$

2,385,549

$

27,848

$

8,771,666

$

1,246,136

$

11,157,215

$

1,273,984

As of June 30,

2025, the portfolio of

available-for-sale debt securities reflects gross unrealized losses

of $

1.1

billion (December 31,

2024 -

$

1.3

billion), driven mainly

by mortgage-backed securities,

which have

been impacted by

the-interest rate environment

and

the

portfolio’s

longer

duration.

The

of

debt

is

comprised

mainly

of

U.S

Treasuries

and

from

the

U.S.

its

or

entities,

Federal

National

Association

(“FNMA”),

Federal

Home

Loan

(“FHLMC”)

and

National

Association

(“GNMA”).

These

carry

an

explicit

or

implicit

from

the

U.S.

are

highly

rated

by

major

rating

agencies, and have a long history of no credit

losses. Accordingly, the Corporation applies a zero-credit loss assumption.

Note 6 –Debt securities held-to-maturity

tables present

the amortized

cost, allowance

for credit

losses, gross

unrealized gains

and losses,

approximate fair

value,

weighted average

yield

and contractual

maturities of

held-to-maturity at

and

Value

Gross

Gross

Book

[1]

for Credit

Net of

Fair

average

cost

Value

Losses

gains

losses

value

yield

$

1,504,543

$

1,481,291

$

$

1,481,291

$

$

2,667

$

1,478,624

1.86

%

6,362,489

5,998,366

5,998,366

22,074

6,020,440

1.22

7,867,032

22,074

2,667

1.34

Obligations of Puerto Rico, States and

2,540

2,540

2,533

2,539

6.41

14,777

14,777

14,717

14,650

3.40

5.81

36,625

36,625

5,911

30,714

2,740

2,117

31,337

1.42

Total obligations of

Puerto Rico, States and

54,597

54,597

5,999

48,598

2,798

2,215

49,181

2.24

1,510

1,510

1,510

1,312

2.87

mortgage obligations -

federal agencies

1,510

1,510

1,510

1,312

2.87

Securities in wholly owned statutory business

trusts

5,960

5,960

5,960

5,960

6.33

Total securities

in wholly owned statutory

business trusts

5,960

5,960

5,960

5,960

6.33

held-to-maturity [2]

$

7,929,099

$

7,541,724

$

5,999

$

$

24,872

$

5,080

$

1.35

%

[1]

Book value includes $

million of unrealized loss which remains in Accumulated

other comprehensive (loss) income (AOCI) related

to certain

securities previously transferred from available-for-sale securities

portfolio to the held-to-maturity securities portfolio.

[2]

7.4

billion pledged to secure public and trust deposits that

the secured parties are not permitted to sell or repledge

the collateral.

The

Corporation had unpledged held-to-maturities securities with

a fair value of $

138.6

million that could be used to increase its borrowing

facilities.

Value

Gross

Gross

Book

[1]

for Credit

Net of

Fair

average

cost

Value

Losses

gains

losses

value

yield

$

599,910

$

599,910

$

$

599,910

$

$

4,498

$

595,412

2.76

%

7,572,435

7,093,508

7,093,508

65,096

7,028,412

1.28

8,172,345

69,594

1.39

Obligations of Puerto Rico, States and

`

2,440

2,440

2,435

2,438

6.39

16,454

16,454

16,374

16,341

3.69

5.81

37,633

37,633

5,210

32,423

2,318

2,596

32,145

1.42

Total obligations of

Puerto Rico, States and

57,182

57,182

5,317

51,865

2,388

2,676

51,577

2.34

1,518

1,518

1,518

1,304

2.87

mortgage obligations -

federal agencies

1,518

1,518

1,518

1,304

2.87

Securities in wholly owned statutory business

trusts

5,959

5,959

5,959

5,959

6.33

Total securities

in wholly owned statutory

business trusts

5,959

5,959

5,959

5,959

6.33

held-to-maturity [2]

$

8,237,004

$

7,758,077

$

5,317

$

$

2,388

$

72,484

$

1.40

%

[1]

Book value includes $

million of unrealized loss which remains in Accumulated

other comprehensive (loss) income (AOCI) related

to certain

securities transferred from available-for-sale securities

portfolio to the held-to-maturity securities portfolio.

[2]

7.6

billion pledged to secure public and trust deposits that

the secured parties are not permitted to sell or repledge

the collateral. The

Corporation had unpledged held-to-maturities securities with

a fair value of $

139.9

million that could be used to increase its borrowing

facilities.

Debt securities not due on a single contractual maturity date,

such as collateralized mortgage obligations, are classified in the period

of final

contractual maturity.

The expected

maturities of

collateralized mortgage

obligations and

certain other

securities may

differ

from their contractual maturities because they may be

subject to prepayments or may be called

by the issuer.

Credit Quality Indicators

The following describes the credit quality indicators by major security

type that the Corporation considers to develop the

estimate of

the allowance for credit losses for investment securities

held-to-maturity.

As discussed in

Note 2 of

the 2024 Form

10-K, U.S. Treasury

securities carry an explicit

guarantee from the U.S.

Government are

highly rated by major rating

agencies and have a long

history of no credit losses. Accordingly,

the Corporation applies a zero-credit

loss assumption and no allowance for credit losses

(“ACL”) for these securities has been established.

At June

2024, the “Obligations

of Puerto

Rico, States and

political subdivisions” classified

as held-to-

maturity,

issued

by

of

Puerto

Rico

that

are

generally

not

rated

by

a

credit

rating

agency.

The

Corporation performs periodic credit quality

reviews of these securities and internally

assigns standardized credit risk ratings based

on

its

evaluation. For

the

definitions

of

the

obligor

risk

ratings, refer

to

the

Credit

Quality section

of

Note

to

the

This

$

million

of

general and

special

obligation bonds

issued

by three

municipalities of

Puerto

Rico,

of

which

$

9.5

million

have

a

“Pass”

rating,

that

are

payable

from

certain

taxes

imposed

by

the

issuing

municipality (compared to $

11.1

million, respectively, at December 31, 2024).

At June 30, 2025, the portfolio of “Obligations of Puerto Rico, States

and political subdivisions” also includes $

million in securities

issued

by

the

Puerto

Rico

Housing Finance

Authority

a

instrumentality,

for

which the

source

of

payment

is

second

loans

in

Puerto

Rico

properties

(not

the

government),

but

for

which

HFA,

a

guarantee in

of default

and upon

the satisfaction

of certain

other conditions

2024 -

$

million). These

securities are not rated by a credit rating agency.

The

assesses

the

credit

risk

with

these

by

the

refreshed

FICO

scores

of

a

representative

sample

of

the

borrowers.

As

of

June

30,

2025,

the

average

refreshed

FICO

score

for

the

sample,

comprised

of

%

of

the

nominal

value

of

the

used

for

the

loss

was

of

(compared

to

%

and

,

respectively, at

The loss estimates

for this portfolio

was based on

the methodology established

under CECL

for

similar

loan

obligations.

The

does

not

the

when

the

credit

losses

associated with this portfolio.

A

deterioration of

the Puerto

Rico economy

or

of

the fiscal

health of

the

Government of

and/or

its

(including if

any of

the issuing

municipalities become

subject to

a debt

restructuring proceeding

Management and Economic Stability Act (“PROMESA”) could

adversely affect the value of these securities, resulting in losses

to the

Note 20

to the

for additional

the Puerto

Rico Government.

Delinquency status

At June 30, 2025 and December 31, 2024, there were

no

securities held-to-maturity in past due or non-performing

status.

Allowance for credit losses on debt securities held-to-maturity

The allowance for credit losses related to

the Obligations of Puerto Rico and the States

and Political subdivisions securities at June

30, 2025 was $

6.0

5.3

Note 7 – Loans

For

a summary

of

the accounting

policies related

to

loans, interest

recognition and

allowance for

credit

losses

refer to

Note

–

Summary of Significant Accounting Policies of the 2024

Form 10-K.

the Corporation's loan

purchases for

the quarters

and six

months ended June

and 2024

by

class of loans:

$

67,726

$

159,258

$

74,886

$

215,422

125,690

84,849

246,597

170,653

$

193,416

$

244,107

$

321,483

$

386,075

The following table presents

the Corporation’s loan sales for the quarters and six months ended June 30, 2025 and 2024 by class of

loans:

$

1,000

$

$

27,349

$

9,338

11,656

8,450

12,752

15,387

23,756

$

9,450

$

12,752

$

52,074

$

35,412

June

30,

2025,

the

Corporation securitized

$

million

of

loans

into

FNMA

securities, compared to $

million during the quarter ended June 30, 2024. The Corporation securitized $

million of mortgage loans

into GNMA

mortgage-backed securities

2025. There

were

no

GNMA securitizations

quarter ended June 30, 2024.

During the six months

ended June 30, 2025,

the Corporation securitized $

million of mortgage loans into

FNMA mortgage-backed

securities, compared to

$

million during the

six months ended

June 30, 2024.

The Corporation securitized

$

million of mortgage

loans into

GNMA mortgage-backed

securities during

the six

to $

million during

the six

months ended June 30, 2024.

Delinquency status

The following tables present the

amortized cost basis of loans

held-in-portfolio (“HIP”), net of unearned

income, by past due status,

and by loan class including those that are in non-performing status or that are accruing

interest but are past due 90 days or more at

BPPR

30-59

60-89

90 days

Total

days

days

or more

Current

loans

loans

$

6,337

$

$

$

6,511

$

299,852

$

306,363

$

$

1,679

6,084

7,876

3,322,108

3,329,984

6,084

1,087

2,098

27,320

30,505

1,171,601

1,202,106

27,320

4,657

2,449

12,652

19,758

5,574,966

5,594,724

8,588

4,064

3,720

3,720

249,579

253,299

262,525

109,530

324,140

696,195

6,407,811

7,104,006

147,464

176,676

Leasing

23,109

5,629

7,976

36,714

1,946,354

7,976

14,184

9,360

25,201

48,745

1,166,545

25,201

1,809

1,809

19,022

11,917

17,499

48,438

1,743,772

1,792,210

17,499

Auto

102,643

22,404

40,595

165,642

3,696,060

40,595

Other

2,500

2,212

4,872

155,550

160,422

1,948

Total

$

439,897

$

165,226

$

463,853

$

1,068,976

$

25,736,007

$

26,804,983

$

257,648

$

206,205

30-59

60-89

90 days

Total

days

days

or more

Current

loans

loans

$

$

4,675

$

10,751

$

15,426

$

2,199,000

$

2,214,426

$

10,751

$

1,503

7,893

9,396

2,181,994

2,191,390

7,893

10,677

10,908

1,790,841

1,801,749

9,235

5,195

3,025

17,455

2,431,573

2,449,028

2,836

3,329

28,052

32,058

1,308,363

1,340,421

28,052

Home equity lines of

credit

3,120

4,682

70,988

75,670

3,120

1,045

1,094

2,671

81,582

84,253

1,094

Other

7,658

8,353

Total

$

24,676

$

14,449

$

54,166

$

93,291

$

11,286,904

$

11,380,195

$

53,977

$

30-59

60-89

90 days

Total

days

days

or more

Current

[2] [3]

loans

loans

$

6,337

$

4,675

$

10,925

$

21,937

$

2,498,852

$

$

10,925

$

1,616

1,679

13,977

17,272

5,504,102

13,977

11,764

2,098

27,551

41,413

2,962,442

27,551

13,892

7,644

15,677

37,213

8,006,539

11,424

4,253

3,720

3,720

1,464,481

[1]

263,202

112,859

352,192

728,253

7,716,174

175,516

176,676

Leasing

23,109

5,629

7,976

36,714

1,946,354

7,976

14,184

9,360

25,201

48,745

1,166,548

25,201

3,120

4,682

72,797

77,479

3,120

20,067

12,449

18,593

51,109

1,825,354

18,593

Auto

102,643

22,404

40,595

165,642

3,696,060

40,595

Other

3,194

2,212

5,567

163,208

168,775

1,948

Total

$

464,573

$

179,675

$

518,019

$

1,162,267

$

37,022,911

$

$

311,625

$

206,394

[1]

At June 30, 2025, mortgage loans held-in-portfolio include

$

2.9

billion of loans that carry certain guarantees from

the FHA or the VA, for which

the

Corporation’s policy is to exclude them from non-performing

status, of which $

million are 90 days or more past due. The portfolio of

guaranteed loans includes $

million of residential mortgage loans in Puerto Rico that

are no longer accruing interest as of June 30, 2025. The

Corporation has $

million in reverse mortgage loans in Puerto Rico which

are guaranteed by FHA, but which are currently

not accruing interest

at June 30, 2025.

[2]

Loans held-in-portfolio are net of $

million in unearned income and exclude $

million in loans held-for-sale.

[3]

21.4

billion pledged to secure credit facilities and public funds

that the secured parties are not permitted to sell or repledge

the collateral,

7.5

billion were pledged at the Federal Home Loan Bank

("FHLB") as collateral for borrowings and $

13.9

billion at the Federal Reserve

Bank ("FRB") for discount window borrowings. As of June

30, 2025, the Corporation had an available borrowing

facility with the FHLB and the

discount window of FRB of $

.0 billion and $

10.8

billion, respectively.

BPPR

30-59

60-89

90 days

Total

days

days

or more

Current

loans

loans

$

1,491

$

$

$

1,683

$

306,318

$

308,001

$

$

3,103

6,429

10,118

3,236,385

3,246,503

6,429

11,054

25,258

37,120

1,338,791

1,375,911

25,258

5,738

2,712

23,895

32,345

5,314,549

5,346,894

19,335

4,560

1,039

1,039

211,251

212,290

262,222

116,694

365,759

744,675

6,065,206

6,809,881

158,442

207,317

Leasing

23,991

6,062

9,588

39,641

1,885,764

9,588

17,399

11,719

29,960

59,078

1,158,975

29,960

1,895

2,040

19,503

13,005

20,269

52,777

1,697,600

1,750,377

20,269

Auto

111,358

27,858

51,792

191,008

3,632,429

51,792

Other

1,816

1,312

3,405

156,824

160,229

Total

$

458,730

$

179,963

$

534,341

$

1,173,034

$

25,005,987

$

26,179,021

$

292,091

$

242,250

30-59

60-89

90 days

Total

days

days

or more

Current

loans

loans

$

$

5,443

$

8,700

$

14,143

$

2,077,476

$

2,091,619

$

8,700

$

6,792

8,015

14,807

2,101,925

2,116,732

8,015

5,191

5,191

1,776,644

1,781,835

5,191

10,336

5,323

1,938

17,597

2,377,071

2,394,668

1,748

18,148

5,417

29,890

53,455

1,250,847

1,304,302

29,890

3,393

4,909

66,622

71,531

3,393

1,808

1,509

1,741

5,058

99,809

104,867

1,741

Other

11,024

11,549

Total

$

38,128

$

18,678

$

58,879

$

115,685

$

10,812,946

$

10,928,631

$

58,689

$

30-59

60-89

90 days

Total

days

days

or more

Current

[2]

[3]

loans

loans

$

1,491

$

5,556

$

8,779

$

15,826

$

2,383,794

$

$

8,779

$

9,895

14,444

24,925

5,338,310

14,444

11,054

30,449

42,311

3,115,435

30,449

16,074

8,035

25,833

49,942

7,691,620

21,083

4,750

1,039

1,039

1,262,753

[1]

280,370

122,111

395,649

798,130

7,316,053

188,332

207,317

Leasing

23,991

6,062

9,588

39,641

1,885,764

9,588

17,399

11,719

29,960

59,078

1,159,001

29,960

1,115

3,393

5,054

68,517

73,571

3,393

21,311

14,514

22,010

57,835

1,797,409

22,010

Auto

111,358

27,858

51,792

191,008

3,632,429

51,792

Other

2,330

1,323

3,930

167,848

171,778

Total

$

496,858

$

198,641

$

593,220

$

1,288,719

$

35,818,933

$

$

350,780

$

242,440

[1]

At December 31, 2024 mortgage loans held-in-portfolio include

$

2.6

billion of loans that carry certain guarantees from the FHA

or the VA, for

which the Corporation’s policy is to exclude them

from non-performing status, of which $

million are 90 days or more past due. The portfolio

of

guaranteed loans includes $

million of residential mortgage loans in Puerto Rico that

are no longer accruing interest as of December 31,

The Corporation has $

million in reverse mortgage loans in Puerto Rico which

are guaranteed by FHA, but which are currently not accruing

interest at December 31, 2024.

[2]

Loans held-in-portfolio are net of $

million in unearned income and exclude $

million in loans held-for-sale.

[3]

16.8

billion pledged to secure credit facilities and public funds

that the secured parties are not permitted to sell or repledge

the collateral,

7.3

billion were pledged at the FHLB as collateral for borrowings

and $

9.5

billion at the FRB for discount window borrowings. As

of

December 31, 2024, the Corporation had an available borrowing

facility with the FHLB and the discount window

of FRB of $

3.8

.0

billion, respectively.

Recognition of interest income on mortgage loans is generally discontinued when loans are 90 days or more in arrears on payments

of principal or interest. The Corporation discontinues the recognition of interest income on residential mortgage loans insured by the

FHA or guaranteed by the VA when 15 months

delinquent as to principal or interest, since the principal repayment on these loans is

insured.

Loans with a

delinquency status of 90

days past due

as of June

30, 2025 include

$

million in loans

previously pooled into

GNMA

securities (December 31, 2024 - $

million). Under the GNMA program, issuers such as BPPR have

the option but not the obligation

to repurchase loans that

are 90 days or

more past due. For

accounting purposes, these loans subject to

the repurchase option are

required to be reflected on the financial statements of BPPR with an offsetting liability.

Loans in our serviced GNMA portfolio benefit

from payment forbearance programs but continue to reflect the

contractual delinquency until the borrower repays deferred payments

or completes a payment deferral modification or other

borrower assistance alternative.

The following tables present the amortized cost basis

of non-accrual loans as of June 30, 2025 and

December 31, 2024 by class of

loans:

BPPR

with no

with

with no

with

with no

with

$

$

$

10,751

$

$

10,751

$

3,168

2,916

7,016

10,184

3,793

17,795

9,525

17,795

9,756

8,588

2,836

11,424

63,464

84,000

27,147

64,369

111,147

Leasing

7,497

7,497

HELOCs

3,120

3,120

3,460

14,039

1,094

3,460

15,133

Auto

1,973

38,622

1,973

38,622

Other

1,948

1,948

Total

$

90,339

$

167,309

$

18,672

$

35,305

$

109,011

$

202,614

BPPR

with no

with

with no

with

with no

with

$

$

$

8,700

$

$

8,700

$

3,450

2,979

7,115

10,565

3,879

17,767

7,491

4,957

22,724

7,725

9,020

10,315

1,748

9,020

12,063

66,176

92,266

1,069

28,821

67,245

121,087

Leasing

9,088

9,088

HELOCs

3,393

3,393

2,960

17,309

1,741

2,960

19,050

Auto

1,992

49,800

1,992

49,800

Other

Total

$

101,865

$

190,226

$

21,841

$

36,848

$

123,706

$

227,074

The Corporation has

designated loans classified as

collateral dependent for

which the ACL

is measured based

on the fair

the collateral less

cost to sell,

when foreclosure is

probable or when

the repayment is

expected to be

provided substantially by the

sale or

operation of

the collateral

and the

borrower is

experiencing financial

difficulty.

the collateral

is based

on

appraisals,

which

may

be

due

to

their

age,

type,

location,

and

of

the

or

area

or

general

market

conditions to reflect the expected change in value between the effective date

of the appraisal and the measurement date. Appraisals

are updated every one to two years depending on

the type of loan and the total exposure of

the borrower.

Loans in

non-accrual status with

no allowance

at June

30, 2025 include

$

collateral dependent loans

2024 -

$

million). The

Corporation recognized $

interest income

on non-accrual

loans during

the six

June 30, 2025 (June 30, 2024 - $

The following tables present the amortized cost basis

of collateral-dependent loans, for which the ACL was measured

based on the

fair value of the collateral less cost to sell, by

class of loans and type of collateral as of June

30, 2025 and December 31, 2024:

Real Estate

Auto

Equipment

Accounts

Receivables

Other

Total

BPPR

$

1,250

$

$

$

$

$

1,250

143,152

143,152

24,596

24,596

2,436

2,248

4,808

71,234

71,234

Leasing

1,393

1,393

3,572

3,572

Auto

16,545

16,545

Other

$

246,240

$

17,950

$

$

$

2,248

$

266,562

$

16,542

$

$

$

$

$

16,542

65,668

65,668

1,408

1,408

$

83,618

$

$

$

$

$

83,631

$

17,792

$

$

$

$

$

17,792

208,820

208,820

24,596

24,596

2,436

2,248

4,821

72,642

72,642

Leasing

1,393

1,393

3,572

3,572

Auto

16,545

16,545

Other

Inc.

$

329,858

$

17,950

$

$

$

2,248

$

350,193

Real Estate

Auto

Equipment

Other

Total

BPPR

$

1,278

$

$

$

$

1,278

145,974

145,974

23,361

23,361

2,754

11,593

14,347

77,910

77,910

Leasing

1,437

1,438

3,347

3,347

Auto

15,782

15,782

Other

$

255,200

$

17,219

$

$

11,609

$

284,029

$

14,517

$

$

$

$

14,517

7,116

7,116

4,956

4,956

1,154

1,172

1,430

1,430

$

28,019

$

$

$

1,154

$

29,191

$

15,795

$

$

$

$

15,795

153,090

153,090

28,317

28,317

2,754

12,747

15,519

79,340

79,340

Leasing

1,437

1,438

3,347

3,347

Auto

15,782

15,782

Other

Inc.

$

283,219

$

17,219

$

$

12,763

$

313,220

Note 8 – Allowance for credit losses – loans

The

Corporation follows

the current

expected credit

loss

(“CECL”) model

to

establish and

evaluate the

adequacy of

the ACL

to

provide for

expected losses

in the

loan portfolio.

This model

establishes a forward-looking

methodology that

reflects the

credit losses over the lives

of financial assets starting when such

assets are first acquired or originated.

In addition, CECL provides

that

the

initial ACL

on PCD

assets be

recorded as

an

increase to

the

purchase price,

with subsequent

changes to

the

as

a

credit

loss

expense.

The

for

credit

losses

in

current

is

based

on

this

methodology.

Loan losses

are charged

and

recoveries are

credited to

the ACL.

The

Corporation’s modeling

framework includes

competing risk

models that

generate lifetime

default and

prepayment estimates as

well as

other loan

level techniques

to estimate

loss

severity.

These

models

combine

credit

risk

factors

which

include

the

impact

of

loan

modifications,

with

macroeconomic

expectations to derive the lifetime expected loss.

At June

estimated the

ACL by

weighting the

outputs of

optimistic, baseline,

and pessimistic

The

weightings applied

are subject

to

evaluation on

a

quarterly basis

as

part

of

the ACL’s

governance process.

first

quarter

of

2025,

the

equal

weights

to

the

baseline

and

scenarios

in

to

economic uncertainty,

the optimistic scenario

being the lowest

of probabilities. During

quarter of 2025,

moderately

reduced

the

weight

for

the

based

on

changes

in

the

outlook

and

a

reassessment of uncertainty compared to the previous quarter. The net impact of these two changes in the

assigned weights on the

ACL

levels

for

the

six

months

ended

June

30,

was

$

13.7

million

in

reserves.

The

weight

for

the

pessimistic scenario remains above the levels observed

in 2024, given the ongoing economic uncertainty.

The following tables

present the changes

in the ACL

of loans

held-in-portfolio and unfunded

commitments for the

quarters and six

months ended June 30, 2025 and 2024.

BPPR

Ending

Balance

Balance

$

3,420

$

$

$

$

3,696

42,848

(160)

(21)

43,139

36,019

(1,176)

(14)

1,019

35,848

131,407

(6,769)

(2,466)

1,030

123,202

213,694

(7,835)

(2,501)

2,527

205,885

2,719

3,075

74,289

(1,752)

(550)

2,979

74,966

Leasing

20,206

2,570

(3,982)

1,246

20,040

96,523

13,094

(20,011)

2,700

92,306

(313)

89,786

18,881

(19,553)

3,777

92,891

Auto

171,979

16,852

(13,418)

6,861

182,274

Other

7,007

1,297

(700)

7,758

365,355

49,811

(53,682)

13,799

375,283

$

676,263

$

43,150

$

(60,715)

$

20,551

$

679,249

$

7,445

$

(1,569)

$

$

$

5,876

1,560

1,869

$

9,005

$

(1,260)

$

$

$

7,745

[1] Allowance for credit losses of unfunded commitments

is presented as part of Other Liabilities in the Consolidated

Ending

Balance

Balance

$

10,081

$

3,567

$

(563)

$

$

13,085

15,453

15,978

14,193

(1,016)

(14)

13,203

16,422

1,533

(49)

18,160

56,149

4,609

(626)

60,426

6,793

7,504

9,740

10,209

1,550

(799)

(16)

1,330

11,651

1,417

(2,920)

10,763

Other

(13)

13,203

(2,949)

1,211

12,097

$

85,885

$

6,389

$

(3,575)

$

1,537

$

90,236

$

1,630

$

$

$

$

1,935

3,492

(203)

3,289

$

5,164

$

$

$

$

5,308

[1]

Ending

Balance

Balance

$

13,501

$

3,837

$

(563)

$

$

16,781

58,301

(21)

59,117

50,212

(2,192)

(28)

1,059

49,051

147,829

(5,236)

(2,515)

1,284

141,362

269,843

(3,226)

(3,127)

2,821

266,311

9,512

1,067

10,579

84,029

(1,315)

(550)

3,011

85,175

Leasing

20,206

2,570

(3,982)

1,246

20,040

96,523

13,094

(20,011)

2,700

92,306

1,610

(1,112)

(16)

1,384

101,437

20,298

(22,473)

4,392

103,654

Auto

171,979

16,852

(13,418)

6,861

182,274

Other

7,009

1,311

(713)

7,762

378,558

50,443

(56,631)

15,010

387,380

$

762,148

$

49,539

$

(64,290)

$

22,088

$

769,485

$

9,075

$

(1,264)

$

$

$

7,811

5,052

5,158

$

14,169

$

(1,116)

$

$

$

13,053

[1]

BPPR

Ending

Balance

Balance

$

2,783

$

$

$

$

$

3,696

44,852

(2,759)

(86)

1,132

43,139

37,355

(2,918)

(103)

1,514

35,848

130,136

(7,026)

(5,778)

5,870

123,202

215,126

(11,798)

(5,967)

8,524

205,885

2,743

3,075

72,901

(2,870)

(985)

5,911

74,966

Leasing

16,419

9,629

(8,526)

2,518

20,040

99,130

26,916

(38,876)

5,136

92,306

(421)

(25)

91,296

35,709

(41,506)

7,392

92,891

Auto

165,995

36,323

(34,474)

14,430

182,274

Other

7,002

2,020

(1,580)

7,758

363,477

100,547

(116,461)

27,720

375,283

$

670,666

$

95,840

$

$

(131,939)

$

44,673

$

679,249

$

6,725

$

(849)

$

$

$

$

5,876

1,663

1,869

$

8,388

$

(643)

$

$

$

$

7,745

[1]

Ending

Balance

Balance

$

6,453

$

7,194

$

(563)

$

$

13,085

9,642

6,336

15,978

12,473

(26)

13,203

15,870

3,010

(1,196)

18,160

44,438

16,733

(1,785)

1,040

60,426

8,521

(1,017)

7,504

9,508

10,209

1,449

(935)

(46)

1,330

11,440

3,617

(5,546)

1,252

10,763

Other

(42)

12,891

2,717

(5,634)

2,123

12,097

$

75,358

$

18,917

$

(7,419)

$

3,380

$

90,236

$

1,662

$

$

$

$

1,935

5,409

(2,120)

3,289

$

7,082

$

(1,774)

$

$

$

5,308

[1]

Ending

Balance

Balance

$

9,236

$

8,099

$

$

(563)

$

$

16,781

54,494

3,577

(86)

1,132

59,117

49,828

(2,725)

(129)

2,077

49,051

146,006

(4,016)

(6,974)

6,346

141,362

259,564

4,935

(7,752)

9,564

266,311

11,264

(685)

10,579

82,409

(2,386)

(985)

6,128

85,175

Leasing

16,419

9,629

(8,526)

2,518

20,040

99,130

26,916

(38,876)

5,136

92,306

1,503

(1,356)

(71)

1,308

1,384

102,736

39,326

(47,052)

8,644

103,654

Auto

165,995

36,323

(34,474)

14,430

182,274

Other

7,004

2,055

(1,622)

7,762

376,368

103,264

(122,095)

29,843

387,380

$

746,024

$

114,757

$

$

(139,358)

$

48,053

$

769,485

$

8,387

$

(576)

$

$

$

$

7,811

7,072

(1,914)

5,158

$

15,470

$

(2,417)

$

$

$

$

13,053

[1]

BPPR

Ending

Balance

Balance

$

3,567

$

(264)

$

$

$

$

3,303

53,666

(324)

53,386

43,537

(5,296)

1,134

39,375

102,844

14,440

(8,072)

2,051

111,263

203,614

8,556

(8,072)

3,229

207,327

3,114

3,638

76,564

(6,419)

(26)

3,775

73,900

Leasing

8,991

8,094

(3,841)

1,141

14,385

88,169

11,856

(16,419)

2,707

86,313

(94)

99,504

15,492

(23,293)

2,318

94,021

Auto

157,456

10,250

(16,609)

6,352

157,449

Other

6,808

(680)

6,489

352,039

37,830

(57,095)

11,581

344,355

$

644,322

$

48,585

$

$

(69,034)

$

19,726

$

643,605

$

4,942

$

$

$

$

$

5,540

1,441

2,095

$

6,383

$

1,252

$

$

$

$

7,635

[1]

Ending

Balance

Balance

$

9,176

$

(1,303)

$

$

$

7,877

11,958

(1,151)

10,849

20,270

(1,514)

18,815

17,574

(1,367)

(1,195)

15,219

58,978

(5,335)

(1,195)

52,760

8,025

1,126

9,251

9,874

(502)

(18)

9,389

1,770

(510)

(14)

1,643

16,573

(4,596)

13,427

Other

(2)

(18)

18,345

(4,628)

1,072

15,072

$

95,222

$

(4,428)

$

(5,841)

$

1,519

$

86,472

$

2,542

$

$

$

$

2,850

7,837

8,399

(5)

$

10,384

$

$

$

$

11,249

[1]

Ending

Balance

Balance

$

12,743

$

(1,567)

$

$

$

$

11,180

65,624

(1,475)

64,235

63,807

(6,810)

1,193

58,190

120,418

13,073

(9,267)

2,258

126,482

262,592

3,221

(9,267)

3,541

260,087

11,139

1,650

12,889

86,438

(6,921)

(44)

3,810

83,289

Leasing

8,991

8,094

(3,841)

1,141

14,385

88,169

11,856

(16,419)

2,707

86,313

1,872

(488)

(108)

1,726

116,077

16,287

(27,889)

2,973

107,448

Auto

157,456

10,250

(16,609)

6,352

157,449

Other

6,810

(698)

6,491

370,384

38,113

(61,723)

12,653

359,427

$

739,544

$

44,157

$

$

(74,875)

$

21,245

$

730,077

$

7,484

$

$

$

$

$

8,390

9,278

1,216

10,494

(5)

$

16,767

$

2,117

$

$

$

$

18,884

[1]

BPPR

Ending

Balance

Balance

$

3,614

$

(312)

$

$

$

$

3,303

53,754

(737)

53,386

40,637

(149)

(2,785)

1,672

39,375

107,577

14,816

(14,741)

3,611

111,263

205,582

13,618

(17,526)

5,653

207,327

5,294

(1,656)

3,638

72,440

(6,738)

(791)

8,966

73,900

Leasing

9,708

11,062

(8,691)

2,306

14,385

80,487

33,496

(32,815)

5,145

86,313

(291)

101,181

35,755

(47,642)

4,727

94,021

Auto

157,931

23,621

(36,776)

12,673

157,449

Other

7,132

(1,344)

6,489

346,834

93,307

(118,868)

23,082

344,355

$

639,858

$

109,593

$

$

(145,876)

$

40,007

$

643,605

$

5,062

$

$

$

$

$

5,540

1,618

2,095

$

6,680

$

$

$

$

$

7,635

[1]

Ending

Balance

Balance

$

10,126

$

(1,813)

$

(441)

$

$

7,877

11,699

(956)

10,849

16,227

2,505

18,815

14,779

1,836

(1,759)

15,219

52,831

1,572

(2,200)

52,760

7,392

1,759

9,251

10,774

(1,427)

(18)

9,389

1,875

(763)

(21)

1,643

16,609

5,786

(10,308)

1,340

13,427

Other

(49)

18,486

5,046

(10,378)

1,918

15,072

$

89,483

$

6,950

$

(12,596)

$

2,635

$

86,472

$

1,851

$

$

$

$

2,850

8,446

(47)

8,399

(29)

$

10,326

$

$

$

$

11,249

[1]

Ending

Balance

Balance

$

13,740

$

(2,125)

$

$

(441)

$

$

11,180

65,453

(1,693)

64,235

56,864

2,356

(2,785)

1,755

58,190

122,356

16,652

(16,500)

3,974

126,482

258,413

15,190

(19,726)

6,210

260,087

12,686

12,889

83,214

(8,165)

(809)

9,026

83,289

Leasing

9,708

11,062

(8,691)

2,306

14,385

80,487

33,496

(32,815)

5,145

86,313

1,978

(638)

(312)

1,726

117,790

41,541

(57,950)

6,067

107,448

Auto

157,931

23,621

(36,776)

12,673

157,449

Other

7,134

(1,393)

6,491

365,320

98,353

(129,246)

25,000

359,427

$

729,341

$

116,543

$

$

(158,472)

$

42,642

$

730,077

$

6,913

$

1,477

$

$

$

$

8,390

10,064

10,494

(29)

$

17,006

$

1,878

$

$

$

$

18,884

[1]

Statements of Financial

Condition.

Modifications

A

modification

constitutes

a

change

in

loan

terms

in

the

form

of

forgiveness,

an

rate

reduction,

other

than-

insignificant payment delay, term extension or combination of the above made

to a borrower experiencing financial difficulty.

The amount of outstanding commitments to lend additional funds to debtors with financial difficulties owing receivables whose terms

modified during

the six

2025 amounted

to $

million (During

the year

ended December

31,

million), related to the commercial loan portfolios.

The following tables show the amortized cost basis of the loans modified to borrowers experiencing financial difficulties at the end of

the reporting period disaggregated by

class of financing receivable and

type of concession granted

for the quarters and

ended June 30, 2025 and 2024. Loans modified

to borrowers experiencing financial difficulties that were fully paid down,

charged-off

or foreclosed upon by period end are not reported.

Difficulty for the quarter ended June 30, 2025

BPPR

$

0.01

%

$

%

$

0.01

%

%

%

%

0.03

%

%

0.03

%

1,159

0.06

%

%

1,159

0.06

%

Total

$

2,460

0.01

%

$

%

$

2,460

0.01

%

BPPR

$

%

$

58,652

2.68

%

$

58,760

1.06

%

5,308

0.44

%

%

5,308

0.18

%

5,693

0.10

%

%

5,693

0.07

%

12,983

0.18

%

0.05

%

13,648

0.16

%

0.01

%

0.02

%

0.01

%

Auto

%

%

%

Total

$

24,401

0.09

%

$

59,338

0.52

%

$

83,739

0.22

%

BPPR

$

4,436

0.13

%

$

%

$

4,436

0.08

%

8,827

0.73

%

%

8,827

0.29

%

166,870

2.98

%

%

166,870

2.07

%

0.01

%

%

%

Total

$

180,553

0.67

%

$

%

$

180,553

0.47

%

BPPR

$

%

$

%

$

%

3,936

0.06

%

%

3,936

0.05

%

3,429

0.19

%

0.09

%

3,502

0.19

%

Auto

%

%

%

Total

$

7,481

0.03

%

$

%

$

7,554

0.02

%

Combination -

Other-Than-Insignificant Payment Delays and Interest Rate

$

0.01

%

$

%

$

%

2,293

0.19

%

%

2,293

0.19

%

Total

$

2,603

0.01

%

$

%

$

2,603

0.01

%

Difficulty for the six months ended June 30,

BPPR

$

2,048

0.04

%

$

%

$

2,048

0.03

%

%

%

%

0.04

%

%

0.04

%

2,280

0.13

%

%

2,280

0.12

%

Other

%

%

%

Total

$

4,944

0.02

%

$

%

$

4,944

0.01

%

BPPR

$

%

$

58,652

2.68

%

$

58,760

1.06

%

5,308

0.44

%

%

5,308

0.18

%

11,271

0.20

%

%

11,271

0.14

%

22,922

0.32

%

0.05

%

23,587

0.28

%

0.03

%

0.02

%

0.03

%

Auto

%

%

%

Total

$

40,191

0.15

%

$

59,338

0.52

%

$

99,529

0.26

%

BPPR

$

4,436

0.13

%

$

%

$

4,436

0.08

%

20,980

1.75

%

%

20,980

0.70

%

177,506

3.17

%

%

177,506

2.21

%

0.01

%

%

%

Total

$

203,342

0.76

%

$

%

$

203,342

0.53

%

BPPR

$

%

$

%

$

%

7,061

0.10

%

%

7,061

0.08

%

6,534

0.36

%

0.14

%

6,648

0.35

%

Auto

%

%

%

Total

$

13,711

0.05

%

$

%

$

13,825

0.04

%

Combination - Other-Than-Insignificant Payment Delays

$

0.02

%

$

%

$

0.01

%

4,867

0.40

%

%

4,867

0.40

%

Total

$

5,728

0.02

%

$

%

$

5,728

0.02

%

Difficulty for the quarter ended June 30, 2024

BPPR

$

%

$

%

$

%

1,747

0.03

%

%

1,747

0.02

%

%

%

%

0.04

%

%

0.04

%

0.05

%

%

0.05

%

Other

0.02

%

%

0.02

%

Total

$

3,117

0.01

%

$

%

$

3,117

0.01

%

BPPR

$

3,084

0.10

%

$

%

$

3,084

0.06

%

1,134

0.08

%

6,071

0.35

%

7,205

0.23

%

23,059

0.46

%

%

23,059

0.32

%

16,933

0.26

%

0.05

%

17,575

0.22

%

0.01

%

0.10

%

0.02

%

Auto

%

%

%

Total

$

44,504

0.18

%

$

6,849

0.07

%

$

51,353

0.14

%

BPPR

$

57,071

1.92

%

$

%

$

57,071

1.14

%

6,230

0.44

%

%

6,230

0.20

%

52,124

1.04

%

%

52,124

0.72

%

%

%

%

Total

$

115,552

0.46

%

$

%

$

115,552

0.32

%

BPPR

$

0.01

%

$

%

$

0.01

%

5,246

0.08

%

%

5,277

0.07

%

2,190

0.13

%

%

2,190

0.12

%

Total

$

7,926

0.03

%

$

%

$

7,957

0.02

%

Combination -

Other-Than-Insignificant Payment Delays and Interest Rate

$

%

$

%

$

%

0.02

%

%

0.02

%

Total

$

%

$

%

$

%

Difficulty for the six months ended June 30,

BPPR

$

%

$

%

$

%

2,122

0.04

%

%

2,122

0.03

%

%

%

%

0.05

%

%

0.05

%

1,085

0.06

%

%

1,085

0.06

%

Other

0.02

%

%