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

regulatory

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

conditions

in

the

geographic

areas

we

serve

and,

in

particular,

in

the

Commonwealth

of

Puerto

Rico

(the

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

portion of our business is concentrated;

●

adverse

economic conditions,

including high

levels

of

inflation, that

adversely affect

housing

prices, the

job

market,

consumer confidence

and spending

habits which

may affect

in turn,

among other

things, our

level of

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

uncertain and

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;

●

the impact of the current or any future

U.S. government shutdown;

●

changes

in

and

uncertainty

federal

funding,

tax,

trade

and

tariff

policies,

and

rulemaking,

supervision,

examination and enforcement priorities of the federal

administration;

●

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,

resulting

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:

$

377,079

$

419,638

Money market investments:

Time deposits with other banks

Total money market investments

Trading account debt securities, at fair value

33,122

32,831

Debt securities available-for-sale, at fair

value:

Pledged securities with creditors’ right to repledge

40,352

30,486

Other debt securities available-for-sale

20,646,071

18,215,417

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

Pledged securities with creditors’ right to repledge

18,525

27,405

Other debt securities held-to-maturity

7,414,610

7,730,672

Debt securities held-to-maturity (fair

value 2025 - $

; 2024 - $

)

7,433,135

7,758,077

Less – Allowance for credit losses

5,837

5,317

Debt securities held-to-maturity, net

Equity securities (realizable value 2025 -

$

219,599

; 2024 - $

208,663

)

218,993

208,166

Loans held-for-sale, at fair value

7,783

5,423

39,111,956

37,522,995

Less – Unearned income

424,798

415,343

786,220

746,024

Total loans held-in-portfolio, net

37,900,938

36,361,628

Premises and equipment, net

679,651

601,787

Other real estate

42,950

57,268

Accrued income receivable

297,347

263,389

Mortgage servicing rights, at fair value

99,523

108,103

1,744,886

1,797,759

789,954

802,954

Other intangible assets

5,460

6,826

$

$

Liabilities and Stockholders’ Equity

Liabilities:

$

$

51,639,378

49,744,790

56,853

54,833

400,000

225,000

789,954

896,293

1,189,915

1,371,846

Total liabilities

68,950,126

67,432,317

Commitments and contingencies (Refer

to Note 18)

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;

104,906,144

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,

37,946,278

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

$

702,039

$

664,731

$

2,053,299

$

1,952,200

66,867

96,061

206,565

272,893

197,743

176,656

567,655

528,403

Total interest income

966,649

937,448

2,827,519

2,753,496

Interest expense:

303,432

350,985

896,353

Short-term borrowings

4,616

1,430

11,342

3,748

Long-term debt

12,096

12,560

36,173

37,799

Total interest expense

320,144

364,975

943,868

646,505

572,473

75,125

71,448

188,147

190,840

Net interest income after provision for credit losses

571,380

501,025

1,695,504

1,500,689

Non-interest income:

39,077

38,315

116,957

113,283

Other service fees

101,376

98,748

296,406

289,883

2,771

2,670

11,332

12,753

Net gain (loss), including impairment on equity securities

2,197

(546)

3,645

Net gain on trading account debt securities

1,456

1,455

Adjustments to indemnity reserves on loans sold

Other operating income

25,340

23,270

61,608

75,173

Total non-interest income

171,195

164,082

491,733

494,206

Operating expenses:

232,988

201,856

675,056

614,657

Net occupancy expenses

26,083

28,031

82,441

83,764

Equipment expenses

5,313

9,349

16,404

28,578

Other taxes

17,967

17,757

55,324

47,465

25,808

26,708

80,741

93,370

Technology and software expenses

87,117

88,452

255,481

247,666

38,408

34,320

114,050

107,610

Communications

4,836

5,229

14,750

14,143

Business promotion

27,304

25,637

77,364

72,075

Deposit insurance

10,873

10,433

30,315

44,901

Other real estate owned (OREO) income

(3,408)

(2,674)

(10,862)

(13,745)

8,614

21,519

53,630

77,293

1,366

2,233

Goodwill impairment

13,000

13,000

Total operating expenses

495,287

467,321

247,288

197,786

728,177

574,885

35,971

42,463

128,918

138,490

Net Income

$

211,317

$

155,323

$

599,259

$

436,395

Net Income Applicable to Common Stock

$

210,964

$

154,970

$

598,200

$

435,336

Net Income per Common Share – Basic

$

3.15

$

2.16

$

8.78

$

6.06

Net Income per Common Share – Diluted

$

3.14

$

2.16

$

8.78

$

6.05

The accompanying notes are an integral part of

these Consolidated Financial Statements.

OF COMPREHENSIVE INCOME

Quarters ended,

Nine months ended,

$

211,317

$

155,323

$

599,259

$

436,395

Other comprehensive income (loss) before

tax:

Foreign currency translation adjustment

(3,240)

Amortization of net losses of pension and

2,272

3,618

6,817

10,854

Unrealized holding gains (losses) on debt securities

arising during the period

110,430

380,927

335,388

330,319

Amortization of unrealized losses of debt

securities transfer from available-for-

47,191

45,331

138,743

133,761

Other comprehensive income before tax

145,369

430,491

467,278

471,694

(25,972)

(65,203)

(82,298)

(89,157)

Total other comprehensive income, net of tax

119,397

365,288

384,980

382,537

Comprehensive income, net of tax

$

330,714

$

520,611

$

984,239

$

818,932

Tax effect allocated to each component of other comprehensive

income:

Nine months ended,

Amortization of net losses of pension and

$(

)

$(

1,357

)

$(

2,555

)

$(

4,070

)

Unrealized holding losses on debt securities

arising during the period

(15,683)

(54,779)

(51,994)

(58,334)

Amortization of unrealized losses of debt

securities transfer from available-for-

(9,438)

(9,067)

(27,749)

(26,753)

$

(25,972)

$

(65,203)

$

(82,298)

$

(89,157)

The accompanying notes are an integral

part of the Consolidated Financial Statements.

OF CHANGES IN STOCKHOLDERS’ EQUITY

other

Common

Preferred

Retained

comprehensive

stock

stock

Surplus

earnings

stock

loss

Total

Balance at June 30, 2024

$

1,048

$

22,143

$

4,852,747

$

4,385,522

$

(2,010,500)

$

(1,878,282)

$

5,372,678

155,323

155,323

1,704

1,704

[1]

(44,614)

(44,614)

(353)

(353)

[2]

(59,147)

(59,147)

(582)

(365)

365,288

365,288

$

1,048

$

22,143

$

4,853,869

$

4,495,878

$

(2,069,430)

$

$

5,790,514

Balance at June 30, 2025

$

1,049

$

22,143

$

4,919,950

$

4,861,958

$

(2,455,425)

$

(1,395,657)

$

5,954,018

211,317

211,317

1,764

1,764

[1]

(50,376)

(50,376)

(353)

(353)

[3]

(119,697)

(119,697)

(947)

(398)

119,397

119,397

$

1,049

$

22,143

$

$

$

$

$

[1]

Dividends declared per common share during the quarter

ended September 30, 2025 - $

0.75

0.62

).

[2]

Includes common

stock

repurchases of

$

58.8

million

as part

of the

2024 common

stock repurchase

program. Refer

to Note

15 for

information.

[3]

Includes common stock

repurchases of $

119.4

million as part

of the 2024

and 2025 common

stock repurchase programs

previously announced

by the Corporation. Refer to Note 15 for additional information.

OF CHANGES IN STOCKHOLDERS’ EQUITY

other

Common

Preferred

Retained

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

436,395

436,395

5,271

5,271

[1]

(134,309)

(134,309)

(1,059)

(1,059)

[2]

(65,923)

(65,923)

5,199

15,450

20,649

382,537

382,537

$

1,048

$

22,143

$

4,853,869

$

4,495,878

$

(2,069,430)

$

$

5,790,514

Balance at December 31, 2024

$

1,048

$

22,143

$

4,908,693

$

4,570,957

$

(2,228,535)

$

(1,661,240)

$

599,259

599,259

5,293

5,294

[1]

(146,611)

(146,611)

(1,059)

(1,059)

[3]

(362,752)

(362,752)

6,781

16,714

23,495

384,980

384,980

$

1,049

$

22,143

$

$

$

$

$

[1]

Dividends declared per common share during the nine months

ended September 30, 2025 - $

2.15

1.86

).

[2]

Includes common stock repurchases of $

58.8

million as part of the 2024 common stock repurchase

program. Refer to Note 15 for additional

information.

[3]

Includes common stock repurchases of $

353.7

million as part of the 2024 and 2025 common stock

repurchase programs previously announced

by the Corporation. Refer to Note 15 for additional information.

For the nine months ended

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

56,684

65,364

Balance at end of period

104,906,144

104,832,712

Treasury stock

(37,946,278)

(33,045,363)

Common Stock – Outstanding

71,787,349

The accompanying notes are an integral part of these Consolidated

OF CASH FLOWS

Cash flows from operating activities:

$

599,259

$

436,395

Adjustments to reconcile net income to net cash provided

by operating activities:

188,147

190,840

13,000

1,366

2,233

Depreciation and amortization of premises and equipment

38,901

46,720

Net accretion of discounts and amortization of premiums and

deferred fees

(203,871)

(196,221)

Interest capitalized on loans subject to the temporary payment

moratorium or loss mitigation alternatives

(4,729)

(5,933)

Share-based compensation

23,574

17,853

Fair value adjustments on mortgage servicing rights

9,359

10,280

Adjustments to indemnity reserves on loans sold

(329)

(783)

Earnings from investments under the equity method, net

of dividends or distributions

(13,760)

(12,723)

Deferred income tax expense

26,666

19,247

Gain on:

Disposition of premises and equipment and other productive

assets

(31)

(7,651)

Sale of loans, including valuation adjustments on loans

held-for-sale and mortgage banking activities

(103)

(396)

Sale of equity method investment

(1,226)

Sale of foreclosed assets, including write-downs

(8,722)

(13,590)

Acquisitions of loans held-for-sale

(4,135)

(5,810)

Proceeds from sale of loans held-for-sale

26,924

28,697

Net originations on loans held-for-sale

(22,184)

(31,284)

Net decrease (increase) in:

Trading debt securities

6,561

10,445

(4,827)

(7,337)

Accrued income receivable

(33,921)

6,032

(4,008)

15,425

Net increase (decrease) in:

Interest payable

(7,042)

(4,785)

Pension and other postretirement benefits obligation

3,372

5,937

(18,266)

(28,352)

Total adjustments

10,716

38,844

Net cash provided by operating activities

609,975

475,239

Cash flows from investing activities:

Net decrease in money market investments

1,626,969

469,042

Purchases of investment securities:

Available-for-sale

(28,253,550)

(24,469,345)

Equity

(37,006)

(2,370)

Proceeds from calls, paydowns, maturities and redemptions

of investment securities:

Available-for-sale

26,178,815

24,670,995

Held-to-maturity

456,532

508,511

Proceeds from sale of investment securities:

Equity

32,506

5,242

Net disbursements

on loans

(1,342,325)

(833,899)

Proceeds from sale of loans

61,379

18,266

Acquisition of loan portfolios

(480,793)

(510,556)

Return of capital from equity method investments

Payments to acquire equity method investments

(687)

(1,250)

Net proceeds from sale of equity method investment

1,226

Acquisition of premises and equipment and other productive

assets

(150,079)

(153,085)

Proceeds from sale of:

Premises and equipment and other productive assets

5,570

Foreclosed assets

67,911

82,986

Net cash used in investing activities

(1,838,606)

(209,614)

Cash flows from financing activities:

Net increase in:

1,626,359

46,924

2,020

(36,024)

175,000

Payments of notes payable

(113,522)

(69,570)

Principal payments of finance leases

(2,894)

(2,717)

Proceeds from issuances of notes payable

6,112

Proceeds from issuances of common stock

5,294

5,271

Dividends paid

(146,840)

(135,495)

Net payments for repurchase of common stock

(356,975)

(59,556)

Payments related to tax withholding for share-based compensation

(8,070)

(6,367)

Net cash provided by financing activities

1,186,484

(257,534)

Net (decrease) increase in cash and due from banks, and

restricted cash

(42,147)

8,091

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

$

387,259

$

435,666

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 -

Note 11 -

Goodwill and other intangible assets

Note 12 -

Note 13 -

Note 14 -

Note 15 -

Note 16 -

Other comprehensive income (loss)

Note 17 -

Guarantees

Note 18 -

Commitments and contingencies

Note 19-

Non-consolidated variable interest entities

Note 20 -

Related party transactions

Note 21 -

Fair value measurement

Note 22 -

Fair value of financial instruments

Note 23 -

Net income per common share

Note 24 -

Revenue from contracts with customers

Note 25 -

Stock-based compensation

Note 26 -

Income taxes

Note 27 -

Supplemental disclosure on the consolidated

statements of cash flows

Note 28 -

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 the

U.S. and

British Virgin

Islands. In

provides retail,

and commercial

banking services,

and auto

financing through

its principal

banking subsidiary,

Banco

Popular

de

Puerto

Rico

(“BPPR”), as

well

as

broker-dealer and

services through

specialized subsidiaries.

In

the

U.S.

mainland, the Corporation provides retail and commercial

banking services, as well as equipment

leasing and financing, through its

New

York-chartered

banking

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),

have been

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

Statements of

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 currently hold crypto-assets.

FASB ASU 2024-02,

Codification 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 currently 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

at

the time of adoption of this ASU since it

elected

to

prospectively

apply

the

standard. The Corporation will

this

for

the

initial

measurement of assets and liabilities of

joint

ventures created

after the

date of

adoption.

FASB ASU 2025-07,

Derivatives and Hedging

(Topic 815) and Revenue

from Contracts with

Customers (Topic 606) -

Derivatives Scope

Refinements and Scope

Clarification for Share-

Based Noncash

Consideration from a

Customer in a Revenue

Contract

The

FASB

issued

ASU

2025-07

in

September 2025, which refines the scope of

derivative accounting under

ASC Topic

and

the

treatment

of

noncash

under

ASC

Topic

The

update

excludes

certain

non-

exchange traded

contracts with

underlyings

based

on

the

of

one

of

the

parties from derivative accounting, aiming to

better

reflect

the

nature

of

these

arrangements

and

reduce

complexity.

It

also

confirms

that

noncash

from

a

customer

should

be

for

under

ASC

Topic

until

the right

to receive

or retain

such non-cash

becomes

unconditional,

promoting

consistency

in

revenue

recognition practices.

any

impact

that

the

of

this

will

have

on

its

and

and

FASB ASU 2025-06,

Intangibles - Goodwill and

Other - Internal-Use

Software (Subtopic 350-

40. • Targeted

Improvements to the

Accounting for Internal-

Use Software

The

FASB

issued

ASU

2025-06

in

September 2025, which seeks to modernize

the

for

internal-use

under

ASC

Subtopic

350-40,

Intangibles—

Goodwill and Other—Internal-Use Software.

The

update

replaces

the

traditional

stage-

based

model

(preliminary,

development,

post-implementation)

with

a

principles-

based framework that better

reflects current

practices,

agile and cloud-based approaches.

January 1, 2028

the

impact

that

the

of

this

will

have

on

our

for

internal

use

considering

our

practices

which

may

include

agile

and

cloud

based

approaches. Given the

recent issuance

of

this

it

is

too

early

to

tell

whether

the

impact

will

be

material

in

our

and

presentation and disclosures.

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

for

under

ASC

Topic

606,

Revenue

from

Contracts

with

Customers.

This practical

expedient establishes

that, in

developing

reasonable

and

supportable

forecasts

as

part

of

estimating

credit

losses,

assume

that

current

conditions as

of the

balance sheet

date do

not

change

for

the

remaining

life

of

the

asset.

The

does

not

expect

that

the adoption of this standard will have a

impact

on

its

statements.

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

condition

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

settlement

to

be

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.

any

impact

that

the

of

this

will

have

on

its

and

and

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

categories

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

the

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

cost

beneficial

or

relevant

were

removed

from

ASC Topic 740.

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

categories

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. If by

June 30, 2027 the

SEC has not

removed the

requirements, the

standard will not

become

effective.

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 $

2.6

billion at September 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

30,

2025,

the

held

$

million

in

assets

in

the

form

of

funds

deposited

in

money

market

accounts, debt

securities available for

sale and

equity securities (December

• $

The restricted

assets held

in

debt securities available for

sale and equity securities

consist primarily of assets

held for the Corporation’s

non-qualified retirement

plans and fund deposits guaranteeing possible liens

or encumbrances over the title of insured properties.

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 September 30, 2025 and December 31,

Gross

Gross

Fair

average

cost

gains

losses

value

yield

$

10,182,136

$

2,162

$

8,399

$

10,175,899

3.68

%

5,531,033

23,619

23,786

5,530,866

3.73

15,713,169

25,781

32,185

15,706,765

3.70

6,213

6,078

1.52

12,050

11,501

2.51

93,542

6,540

87,121

2.92

mortgage obligations - federal agencies

111,805

7,224

104,700

2.80

15,380

15,302

2.23

82,670

2,102

80,576

2.30

836,304

48,922

787,629

2.10

4,859,779

869,985

3,990,701

1.70

securities - federal agencies

5,794,133

1,162

921,087

4,874,208

1.77

Other

4.33

4.79

Total other

4.48

[1]

$

21,619,857

$

27,062

$

960,496

$

3.18

%

[1]

14.9

billion pledged to secure government and trust

deposits, credit facilities and loan servicing agreements that the

secured parties

are not permitted to sell or repledge the collateral, of which

$

13.9

billion serve as collateral for public funds.

The Corporation had unpledged

Available for Sale securities with a fair value of

$

5.7

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

maturity

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.

did not

intend to

sell and

did not

believe that

it was

more likely

than not

that it

would be

required to sell debt securities classified as

available-for-sale. There were

no

sales of debt securities classified as available-for-sale

during the nine months ended September 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

$

4,241,874

$

9,041

$

1,656,231

$

23,144

$

5,898,105

$

32,185

6,506

87,499

7,215

94,005

7,224

Mortgage-backed securities -federal agencies

18,000

4,798,315

920,607

4,816,315

921,087

available-for-sale in an unrealized loss position

$

4,266,380

$

9,530

$

6,542,045

$

950,966

$

10,808,425

$

960,496

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

30,

2025,

the

of

debt

reflects

gross

losses

of

$

1.0

billion

(December 31, 2024

• $

1.3

billion), driven mainly

by mortgage-backed securities, impacted

by the higher-interest

rate environment

and

the

portfolio’s

longer

duration.

The

of

available-for-sale debt

is

comprised

mainly

of

U.S

Treasuries

and

from

the

U.S.

its

or

sponsored

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

losses, gross

unrealized gains

and losses,

approximate fair

value, weighted

average yield

and contractual maturities

of debt

securities held-to-maturity

at September 30,

Value

Gross

Gross

Book

[1]

for Credit

Net of

Fair

average

cost

Value

Losses

gains

losses

value

yield

$

2,107,187

$

2,071,286

$

$

2,071,286

$

2,554

$

$

2,073,078

1.50

%

5,607,069

5,302,786

5,302,786

29,216

5,332,002

1.24

7,714,256

31,770

1.31

Obligations of Puerto Rico, States and

2,605

2,605

2,596

2,603

6.43

12,530

12,530

12,486

12,434

3.48

5.81

36,012

36,012

5,769

30,243

3,205

1,802

31,646

1.42

Total obligations of

Puerto Rico, States and

51,597

51,597

5,837

45,760

3,255

1,882

47,133

2.21

1,506

1,506

1,506

1,315

2.87

mortgage obligations -

federal agencies

1,506

1,506

1,506

1,315

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]

$

7,773,319

$

7,433,135

$

5,837

$

$

35,025

$

2,835

$

1.32

%

[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]

7.3

billion pledged to secure public and trust deposits that

the secured parties are not permitted to sell or repledge

the collateral.

The

Corporation had unpledged held-to-maturities securities with

a fair value of $

89.7

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

2024, the

“Obligations of

States and

political subdivisions”

held-to-maturity,

included securities

issued by

generally not

rated by

a credit

rating agency.

performs periodic

credit quality

reviews of

these securities

and internally

assigns standardized

credit risk

ratings

based on its evaluation. For the definitions of the obligor risk ratings, refer to the Credit Quality section of Note 8 to the Consolidated

This includes

$

8.7

million of

general and

special obligation

bonds issued

by three

Puerto

Rico,

of

which

$

7.9

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).

the portfolio

of “Obligations

of Puerto

Rico, States

and political

subdivisions” also

included $

issued

by

the

Puerto

Rico

Housing

Finance

Authority

(“HFA”),

a

instrumentality,

for

which

the

source of payment is second mortgage loans in Puerto Rico

residential properties (not the government), but for which HFA, provides

a guarantee

in the

event of default

and upon the

satisfaction of certain

other conditions (December

31, 2024 -

$

million). These

are

not

rated

by

a

credit

rating

agency.

Refer

to

Note

to

the

for

information on the Corporation’s exposure to the Puerto

Rico Government

The

assesses

the

credit

risk

with

these

by

the

refreshed

FICO

scores

of

a

representative sample of

the underlying

borrowers. As

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

December 31, 2024).

The loss estimates

for this portfolio

was based on

the methodology established

under CECL

for

similar

loan

The

does

not

the

when

estimating

the

credit

losses

associated with this portfolio.

A

deterioration of

Rico economy

or

of

the fiscal

health of

the

Government of

and/or

its

(including if

any of

the issuing

municipalities become

a debt

restructuring proceeding

Management and Economic Stability Act (“PROMESA”) could

adversely affect the value of these securities, resulting in losses

to the

At September 30,

2025 and December 31,

2024, the portfolio of

“Obligations of Puerto Rico,

States and political subdivisions”

also

included $

6.9

securities issued

by the

HFA for

which the

underlying source

of payment

is U.S.

Treasury securities.

The

Corporation applies a zero-credit

loss assumption for these

securities, and no ACL

has been established for

these securities given

that U.S. Treasury

securities carry an

explicit guarantee from the

U.S. Government, are

highly rated by

major rating agencies,

and

have a long history of no credit losses.

Delinquency status

At September 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

for

credit

losses

related

to

the

Obligations

of

Puerto

Rico

and

the

States

and

Political

at

September 30, 2025 was $

5.8

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

table

the

Corporation's

loan

(including

repurchases)

for

the

quarters

and

nine

months

ended

September 30, 2025 and 2024 by class of loans:

$

40,797

$

32,484

$

115,683

$

247,906

122,452

97,586

369,049

268,239

$

163,249

$

130,070

$

484,732

$

516,145

whole-loan sales for

the quarters

2024 by class of loans:

$

19,998

$

$

47,347

$

9,338

11,656

11,393

9,126

26,780

32,882

$

31,391

$

9,126

$

83,465

$

44,538

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

$

1,357

$

$

$

1,532

$

300,834

$

302,366

$

$

17,422

37,043

54,757

3,247,988

3,302,745

37,043

2,004

25,619

27,775

1,167,509

1,195,284

25,619

4,237

2,032

178,224

184,493

5,567,505

5,751,998

173,245

4,979

2,898

1,691

4,589

299,364

303,953

252,650

118,092

314,103

684,845

6,548,261

7,233,106

139,958

174,145

Leasing

23,537

5,372

7,747

36,656

1,961,995

7,747

13,556

9,917

25,625

49,098

1,176,469

25,625

1,693

1,693

19,826

11,353

18,375

49,554

1,773,594

1,823,148

18,375

Auto

107,907

21,874

49,432

179,213

3,671,740

49,432

Other

2,907

2,195

5,347

166,980

172,327

1,776

Total

$

448,301

$

171,021

$

658,537

$

1,277,859

$

25,883,932

$

27,161,791

$

453,369

$

205,168

30-59

60-89

90 days

Total

days

days

or more

Current

loans

loans

$

$

2,638

$

8,467

$

11,105

$

2,176,118

$

2,187,223

$

8,467

$

7,083

7,167

2,152,668

2,159,835

7,083

15,171

15,388

1,880,052

1,895,440

14,949

1,434

16,383

2,477,258

2,493,641

1,246

1,298

4,988

27,809

34,095

1,291,207

1,325,302

27,809

Home equity lines of

credit

3,257

3,987

73,210

77,197

3,257

1,006

2,937

74,240

77,177

Other

8,863

8,893

Total

$

32,903

$

9,168

$

49,021

$

91,092

$

11,434,275

$

11,525,367

$

48,833

$

30-59

60-89

90 days

Total

days

days

or more

Current

[2] [3]

loans

loans

$

1,357

$

2,639

$

8,641

$

12,637

$

2,476,952

$

$

8,641

$

17,506

44,126

61,924

5,400,656

44,126

17,175

25,619

43,163

3,047,561

25,619

19,186

2,032

179,658

200,876

8,044,763

174,491

5,167

2,898

1,691

4,589

1,600,023

[1]

253,948

123,080

341,912

718,940

7,839,468

167,767

174,145

Leasing

23,537

5,372

7,747

36,656

1,961,995

7,747

13,556

9,917

25,625

49,098

1,176,469

25,625

3,257

3,987

74,903

78,890

3,257

20,832

12,343

19,316

52,491

1,847,834

19,316

Auto

107,907

21,874

49,432

179,213

3,671,740

49,432

Other

2,907

2,225

5,377

175,843

181,220

1,806

Total

$

481,204

$

180,189

$

707,558

$

1,368,951

$

37,318,207

$

$

502,202

$

205,356

[1]

At September 30, 2025, mortgage loans held-in-portfolio

include $

.0 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 September 30,

The Corporation has $

million in reverse mortgage loans in Puerto Rico which

are guaranteed by FHA, but which are currently not accruing

interest at September 30, 2025.

[2]

Loans held-in-portfolio are net of $

million in unearned income and exclude $

million in loans held-for-sale.

[3]

21.9

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 $

14.4

billion at the Federal Reserve

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

30, 2025, the Corporation had an available borrowing

facility with the FHLB and

the discount window of FRB of $

4.2

11.2

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.

The following tables present the amortized cost basis

of non-accrual loans as of September 30, 2025

and December 31, 2024 by

class of loans:

BPPR

with no

with

with no

with

with no

with

$

$

$

8,137

$

$

8,137

$

34,986

2,057

6,994

41,980

2,146

16,618

9,001

16,618

9,001

6,504

166,741

1,246

6,504

167,987

62,445

77,513

1,117

26,692

63,562

104,205

Leasing

7,145

7,145

HELOCs

3,257

3,257

3,264

15,111

3,264

16,052

Auto

2,263

47,169

2,263

47,169

Other

1,413

1,443

Total

$

127,045

$

326,324

$

16,248

$

32,585

$

143,293

$

358,909

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 fair

the collateral

is based

on

appraisals,

which

may

be

adjusted

due

to

their

age,

type,

location,

and

condition

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 September 30, 2025 include $

million in collateral dependent loans (December

31,

2024 -

$

million). The

$

interest income

on non-accrual

loans during

the

ended September 30, 2025 (September 30, 2024

• $

The following tables present the amortized cost basis

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

based on the

of the

collateral less

cost to

sell, by

class of

loans and

type of

collateral as

of September

and December

31,

2024:

Real Estate

Auto

Equipment

Accounts

Receivables

Other

Total

BPPR

$

1,221

$

$

$

$

$

1,221

128,209

128,209

23,060

23,060

2,409

4,404

1,383

2,781

10,977

70,547

70,547

Leasing

1,597

1,597

3,724

3,724

Auto

16,694

16,694

Other

$

229,170

$

18,299

$

4,404

$

1,383

$

3,144

$

256,400

$

13,915

$

$

$

$

$

13,915

65,645

65,645

1,651

1,651

$

81,211

$

$

$

$

$

81,211

$

15,136

$

$

$

$

$

15,136

193,854

193,854

23,060

23,060

2,409

4,404

1,383

2,781

10,977

72,198

72,198

Leasing

1,597

1,597

3,724

3,724

Auto

16,694

16,694

Other

Inc.

$

310,381

$

18,299

$

4,404

$

1,383

$

3,144

$

337,611

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

30,

2025,

the

estimated

the

ACL

by

weighting

the

outputs

of

optimistic,

baseline,

and

scenarios. The

weightings applied are

evaluation on a

quarterly basis as

part of

the ACL’s

governance process.

During

the first quarter of 2025, the Corporation assigned equal probability weights to the baseline and pessimistic scenarios in response 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 first quarter. The net impact of these two changes in the assigned weights on the ACL

levels

for

the

nine

months

ended

30,

was

$

13.7

million

in

reserves.

There

were

no

changes

to

the

probability weights

of

2025. The

probability 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 nine

months ended September 30, 2025 and 2024.

BPPR

Ending

Balance

Balance

$

3,696

$

(177)

$

$

$

$

3,521

43,139

10,931

(13,490)

41,456

35,848

(2,211)

34,584

123,202

30,220

(2,801)

1,334

151,955

205,885

38,763

(16,291)

3,159

231,516

3,075

3,445

74,966

(585)

2,801

77,525

Leasing

20,040

1,234

(4,017)

1,963

19,220

92,306

10,212

(18,139)

2,829

87,208

(95)

92,891

13,195

(19,218)

3,533

90,401

Auto

182,274

7,581

(19,175)

7,139

177,819

Other

7,758

1,042

(759)

8,173

375,283

31,935

(57,291)

13,722

363,649

$

679,249

$

72,639

$

$

(78,184)

$

21,645

$

695,355

$

5,876

$

$

$

$

$

6,819

1,869

(127)

1,742

$

7,745

$

$

$

$

$

8,561

[1] Allowance for credit losses of unfunded commitments

is presented as part of Other Liabilities in the Consolidated

Ending

Balance

Balance

$

13,085

$

(84)

$

$

$

13,061

15,978

1,411

17,389

13,203

1,388

14,607

18,160

(148)

(722)

17,352

60,426

2,567

(722)

62,409

7,504

7,659

10,209

(789)

9,456

1,330

(253)

1,500

10,763

(1,629)

9,837

Other

(25)

12,097

(55)

(1,654)

11,341

$

90,236

$

1,878

$

(2,376)

$

1,127

$

90,865

$

1,935

$

(7)

$

$

$

1,928

3,289

(100)

3,189

$

5,308

$

(46)

$

$

$

5,262

[1]

Ending

Balance

Balance

$

16,781

$

(261)

$

$

$

$

16,582

59,117

12,342

(13,490)

58,845

49,051

(823)

49,191

141,362

30,072

(3,523)

1,396

169,307

266,311

41,330

(17,013)

3,297

293,925

10,579

11,104

85,175

(452)

(585)

2,837

86,981

Leasing

20,040

1,234

(4,017)

1,963

19,220

92,306

10,212

(18,139)

2,829

87,208

1,384

(348)

1,548

103,654

13,378

(20,847)

4,053

100,238

Auto

182,274

7,581

(19,175)

7,139

177,819

Other

7,762

1,057

(784)

8,177

387,380

31,880

(58,945)

14,675

374,990

$

769,485

$

74,517

$

$

(80,560)

$

22,772

$

786,220

$

7,811

$

$

$

$

$

8,747

5,158

(227)

4,931

$

13,053

$

$

$

$

$

13,823

[1]

BPPR

Ending

Balance

Balance

$

2,783

$

$

$

$

$

3,521

44,852

8,172

(13,576)

2,008

41,456

37,355

(5,129)

(103)

2,461

34,584

130,136

23,194

(8,579)

7,204

151,955

215,126

26,965

(22,258)

11,683

231,516

2,743

3,445

72,901

(2,533)

(1,570)

8,712

77,525

Leasing

16,419

10,863

(12,543)

4,481

19,220

99,130

37,128

(57,015)

7,965

87,208

(516)

(25)

91,296

48,904

(60,724)

10,925

90,401

Auto

165,995

43,904

(53,649)

21,569

177,819

Other

7,002

3,062

(2,339)

8,173

363,477

132,482

(173,752)

41,442

363,649

$

670,666

$

168,479

$

$

(210,123)

$

66,318

$

695,355

$

6,725

$

$

$

$

$

6,819

1,663

1,742

$

8,388

$

$

$

$

$

8,561

[1]

Ending

Balance

Balance

$

6,453

$

7,110

$

(563)

$

$

13,061

9,642

7,747

17,389

12,473

1,581

(26)

14,607

15,870

2,862

(1,918)

17,352

44,438

19,300

(2,507)

1,178

62,409

8,521

(862)

7,659

9,508

(305)

9,456

1,449

(1,188)

(46)

1,285

1,500

11,440

3,800

(7,175)

1,772

9,837

Other

(67)

12,891

2,662

(7,288)

3,076

11,341

$

75,358

$

20,795

$

(9,795)

$

4,507

$

90,865

$

1,662

$

$

$

$

1,928

5,409

(2,220)

3,189

$

7,082

$

(1,820)

$

$

$

5,262

[1]

Ending

Balance

Balance

$

9,236

$

7,838

$

$

(563)

$

$

16,582

54,494

15,919

(13,576)

2,008

58,845

49,828

(3,548)

(129)

3,040

49,191

146,006

26,056

(10,497)

7,742

169,307

259,564

46,265

(24,765)

12,861

293,925

11,264

(160)

11,104

82,409

(2,838)

(1,570)

8,965

86,981

Leasing

16,419

10,863

(12,543)

4,481

19,220

99,130

37,128

(57,015)

7,965

87,208

1,503

(1,704)

(71)

1,820

1,548

102,736

52,704

(67,899)

12,697

100,238

Auto

165,995

43,904

(53,649)

21,569

177,819

Other

7,004

3,112

(2,406)

8,177

376,368

135,144

(181,040)

44,518

374,990

$

746,024

$

189,274

$

$

(219,918)

$

70,825

$

786,220

$

8,387

$

$

$

$

$

8,747

7,072

(2,141)

4,931

$

15,470

$

(1,647)

$

$

$

$

13,823

[1]

BPPR

Ending

Balance

Balance

$

3,303

$

(417)

$

$

$

$

2,886

53,386

3,344

(69)

56,720

39,375

(2,418)

(2)

1,556

38,511

111,263

16,597

(6,190)

1,461

123,131

207,327

17,106

(6,261)

3,076

221,248

3,638

(970)

1,036

3,704

73,900

(5,221)

(208)

4,102

72,576

Leasing

14,385

3,725

(3,630)

1,374

15,854

86,313

21,238

(17,503)

2,646

92,694

(90)

(82)

94,021

20,232

(24,712)

2,526

92,067

Auto

157,449

20,765

(23,011)

6,110

161,313

Other

6,489

(728)

6,649

344,355

62,507

(66,036)

11,966

352,792

$

643,605

$

77,147

$

$

(76,135)

$

21,554

$

666,174

$

5,540

$

$

$

$

$

6,356

2,095

2,468

$

7,635

$

1,189

$

$

$

$

8,824

[1]

Ending

Balance

Balance

$

7,877

$

(1,126)

$

$

$

6,756

10,849

(54)

10,910

18,815

(4,430)

14,404

15,219

(1,617)

(613)

13,230

52,760

(7,120)

(667)

45,300

9,251

9,510

9,389

(361)

9,074

1,643

(4)

1,785

13,427

2,799

(4,442)

12,475

Other

(28)

15,072

2,844

(4,474)

14,262

$

86,472

$

(4,378)

$

(5,141)

$

1,193

$

78,146

$

2,850

$

(1,080)

$

$

$

1,770

8,399

(609)

7,790

$

11,249

$

(1,689)

$

$

$

9,560

[1]

Ending

Balance

Balance

$

11,180

$

(1,543)

$

$

$

$

9,642

64,235

3,397

(123)

67,630

58,190

(6,848)

(2)

1,575

52,915

126,482

14,980

(6,803)

1,702

136,361

260,087

9,986

(6,928)

3,403

266,548

12,889

(711)

1,036

13,214

83,289

(5,582)

(208)

4,148

81,650

Leasing

14,385

3,725

(3,630)

1,374

15,854

86,313

21,238

(17,503)

2,646

92,694

1,726

(68)

(86)

1,854

107,448

23,031

(29,154)

3,217

104,542

Auto

157,449

20,765

(23,011)

6,110

161,313

Other

6,491

(756)

6,651

359,427

65,351

(70,510)

12,786

367,054

$

730,077

$

72,769

$

$

(81,276)

$

22,747

$

744,320

$

8,390

$

(264)

$

$

$

$

8,126

10,494

(236)

10,258

$

18,884

$

(500)

$

$

$

$

18,384

[1]

BPPR

Ending

Balance

Balance

$

3,614

$

(729)

$

$

$

$

2,886

53,754

2,607

(69)

56,720

40,637

(2,567)

(2,787)

3,228

38,511

107,577

31,413

(20,931)

5,072

123,131

205,582

30,724

(23,787)

8,729

221,248

5,294

(2,626)

1,036

3,704

72,440

(11,959)

(999)

13,068

72,576

Leasing

9,708

14,787

(12,321)

3,680

15,854

80,487

54,734

(50,318)

7,791

92,694

(373)

101,181

55,987

(72,354)

7,253

92,067

Auto

157,931

44,386

(59,787)

18,783

161,313

Other

7,132

(2,072)

6,649

346,834

155,814

(184,904)

35,048

352,792

$

639,858

$

186,740

$

$

(222,011)

$

61,561

$

666,174

$

5,062

$

1,294

$

$

$

$

6,356

1,618

2,468

$

6,680

$

2,144

$

$

$

$

8,824

[1]

Ending

Balance

Balance

$

10,126

$

(2,939)

$

(441)

$

$

6,756

11,699

(903)

(54)

10,910

16,227

(1,925)

14,404

14,779

(2,372)

13,230

52,831

(5,548)

(2,867)

45,300

7,392

2,018

9,510

10,774

(1,788)

(18)

9,074

1,875

(741)

(25)

1,785

16,609

8,585

(14,750)

2,031

12,475

Other

(77)

18,486

7,890

(14,852)

2,738

14,262

$

89,483

$

2,572

$

(17,737)

$

3,828

$

78,146

$

1,851

$

(81)

$

$

$

1,770

8,446

(656)

7,790

(29)

$

10,326

$

(766)

$

$

$

9,560

[1]

Ending

Balance

Balance

$

13,740

$

(3,668)

$

$

(441)

$

$

9,642

65,453

1,704

(123)

67,630

56,864

(4,492)

(2,787)

3,330

52,915

122,356

31,632

(23,303)

5,676

136,361

258,413

25,176

(26,654)

9,613

266,548

12,686

(608)

1,136

13,214

83,214

(13,747)

(1,017)

13,174

81,650

Leasing

9,708

14,787

(12,321)

3,680

15,854

80,487

54,734

(50,318)

7,791

92,694

1,978

(706)

(398)

1,854

117,790

64,572

(87,104)

9,284

104,542

Auto

157,931

44,386

(59,787)

18,783

161,313

Other

7,134

(2,149)

6,651

365,320

163,704

(199,756)

37,786

367,054

$

729,341

$

189,312

$

$

(239,748)

$

65,389

$

744,320

$

6,913

$

1,213

$

$

$

$

8,126

10,064

10,258

(29)

$

17,006

$

1,378

$

$

$

$

18,384

[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

have been modified during the nine months ended September 30, 2025 amounted to $

million (during the year ended December

31, 2024 - $

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 nine months

ended

30,

and

Loans

to

experiencing

difficulties

that

were

fully

paid

down,

charged-off or foreclosed upon by period end are not reported.

Difficulty for the quarter ended September 30,

BPPR

$

0.01

%

$

%

$

0.01

%

0.02

%

%

0.02

%

0.04

%

%

0.04

%

Total

$

1,657

0.01

%

$

%

$

1,657

%

BPPR

$

1,670

0.05

%

$

%

$

1,670

0.03

%

13,618

1.14

%

%

13,618

0.44

%

8,172

0.14

%

0.04

%

9,097

0.11

%

15,194

0.21

%

0.04

%

15,660

0.18

%

0.01

%

0.01

%

0.01

%

Auto

%

%

%

Total

$

38,895

0.14

%

$

1,399

0.01

%

$

40,294

0.10

%

BPPR

$

22,889

1.91

%

$

%

$

22,889

0.74

%

79,734

1.39

%

%

79,734

0.97

%

%

%

%

Total

$

102,926

0.38

%

$

%

$

102,926

0.27

%

BPPR

$

0.01

%

$

%

$

0.01

%

2,739

0.05

%

%

2,739

0.03

%

2,153

0.03

%

%

2,153

0.03

%

2,925

0.16

%

0.05

%

2,964

0.16

%

Auto

%

%

%

Total

$

8,010

0.03

%

$

%

$

8,049

0.02

%

Combination -

Other-Than-Insignificant Payment Delays and Interest Rate

BPPR

$

0.01

%

$

%

$

%

2,666

0.22

%

%

2,666

0.22

%

Total

$

3,037

0.01

%

$

%

$

3,037

0.01

%

Difficulty for the nine months ended September

BPPR

$

2,692

0.05

%

$

%

$

2,692

0.03

%

%

%

%

0.05

%

%

0.05

%

2,782

0.15

%

%

2,782

0.15

%

Other

%

%

%

Total

$

6,165

0.02

%

$

%

$

6,165

0.02

%

BPPR

$

1,773

0.05

%

$

58,652

2.72

%

$

60,425

1.11

%

18,854

1.58

%

%

18,854

0.61

%

16,163

0.28

%

0.04

%

17,088

0.21

%

37,568

0.52

%

1,130

0.09

%

38,698

0.45

%

0.03

%

0.01

%

0.03

%

Auto

%

%

%

Total

$

75,167

0.28

%

$

60,715

0.53

%

$

135,882

0.35

%

BPPR

$

29,763

2.49

%

$

%

$

29,763

0.96

%

165,360

2.87

%

%

165,360

2.01

%

0.01

%

%

0.01

%

Total

$

195,844

0.72

%

$

%

$

195,844

0.51

%

BPPR

$

0.01

%

$

%

$

0.01

%

2,837

0.05

%

%

2,837

0.03

%

9,202

0.13

%

%

9,202

0.11

%

9,187

0.50

%

0.20

%

9,341

0.49

%

Auto

%

%

%

Total

$

21,435

0.08

%

$

%

$

21,589

0.06

%

Combination - Other-Than-Insignificant Payment Delays

BPPR

$

1,157

0.02

%

$

%

$

1,157

0.01

%

7,175

0.59

%

%

7,175

0.59

%

Total

$

8,332

0.03

%

$

%

$

8,332

0.02

%

Difficulty for the quarter ended September 30,

BPPR

$

0.01

%

$

%

$

%

0.01

%

%

0.01

%

0.02

%

%

0.02

%

0.05

%

%

0.04

%

Total

$

1,883

0.01

%

$

%

$

1,883

0.01

%

BPPR

$

%

$

10,570

0.50

%

$

10,570

0.44

%

13,108

0.42

%

%

13,108

0.25

%

0.05

%

%

0.02

%

20,966

0.41

%

%

20,966

0.28

%

0.40

%

%

0.07

%

11,850

0.18

%

0.03

%

12,279

0.15

%

0.01

%

%

0.01

%

Total

$

47,604

0.19

%

$

10,999

0.11

%

$

58,603

0.16

%

BPPR

$

%

$

%

$