Company: BPOPM
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001193125-25-043848
Chunk: 3

Company: POPULAR, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1
Chunk 3
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Bank’s construction financing to permanent financing and are repaid
through the cash flow, 
sale or refinance of the properties. 

  

8 
(2) Mortgage. Mortgage
loans include residential
mortgage loans to
consumers for the
purchase or refinancing
of a
residence and 
also include residential construction loans made
to individuals for the construction of refurbishment
of their residence.
(3) Consumer.
Consumer loans
are mainly
comprised of
unsecured personal
loans, credit
cards, and
automobile loans,
and to
a 
lesser extent home equity lines of credit (“HELOCs”)
and other loans made by banks to individual
borrowers.
(4) Construction. Construction loans are CRE loans to companies,
community or homeowners’ associations, or developers used for 
the construction of a commercial or residential property for which repayment will be generated by the sale or permanent financing of 
the property.
Our construction loan
portfolio primarily consists
of retail, residential
(land and condominiums),
office and warehouse 
product types.
(5) Lease Financings. Lease financings are offered by
BPPR and are primarily comprised of automobile loans/leases made through 
automotive dealerships. 
Business Concentration 
Since our
business activities
are currently concentrated
primarily in
Puerto Rico,
our results
of operations
and financial 
condition are dependent upon the general trends of
the Puerto Rico economy and, in particular,
the residential and commercial real 
estate markets. The concentration of our
operations in Puerto Rico exposes us
to greater risk than other
banking companies with a 
wider
geographic
base.
Our
asset
and
revenue
composition
by
geographical
area
is
presented
in
Note
36
to
the
Consolidated 
Financial Statements included in this Form 10-K. 
Our loan portfolio is diversified by loan category.
However, approximately 55% of our loan portfolio at December 31, 2024 consisted 
of real estate-related
loans, including residential
mortgage loans, construction
loans and commercial
loans secured by
commercial 
real estate. The table below presents the distribution
of our loan portfolio by loan category at
December 31, 2024. 
Loan category 
(Dollars in millions) 
BPPR 
% 
PB 
% 
POPULAR 
% 
Commercial