BPOP 10-K Annual Report Dec. 31, 2019 | Alphaminr
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BPOP 10-K Fiscal year ended Dec. 31, 2019

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POPULAR INC
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TABLE OF CONTENTS
Part I Popular, IncprintItem 1. BusinessprintItem 1A. Risk FactorsprintItem 1B. Unresolved Staff CommentsprintItem 2. PropertiesprintItem 3. Legal ProceedingsprintItem 4. Mine Safety DisclosureprintPart IIprintItem 5. Market For Registrant S Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity SecuritiesprintItem 6. Selected Financial DataprintItem 7. Management S Discussion and Analysis Of Financial Condition and Results Of OperationsprintItem 7A. Quantitative and Qualitative Disclosures About Market RiskprintItem 8. Financial Statements and Supplementary DataprintItem 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureprintItem 9A. Controls and ProceduresprintItem 9B. Other InformationprintPart IIIprintItem 10. Directors, Executive Officers and Corporate GovernanceprintItem 11. Executive CompensationprintItem 12. Security Ownership Of Certain Beneficial Owners and Management and Related Stockholders MattersprintItem 13. Certain Relationships and Related Transactions, and Director IndependenceprintItem 14. Principal Accountant Fees and ServicesprintPart IVprintItem 15. Exhibits and Financial Statement SchedulesprintItem 16. Form 10-k SummaryprintNote 1 - Nature Of Operations 118printNote 2 - Summary Of Significant Accounting Policies 119printNote 3 - New Accounting Pronouncements 129printNote 4 - Business Combination 136printNote 5 - Restrictions on Cash and Due From Banks and Certain Securities 138printNote 6 - Debt Securities Available-for-sale 139printNote 7 - Debt Securities Held-to-maturity 143printNote 8 - Loans 145printNote 9 - Allowance For Loan Losses 151printNote 10 - Fdic Loss Share Asset and True-up Payment Obligation 168printNote 11 - Mortgage Banking Activities 169printNote 12 - Transfers Of Financial Assets and Mortgage Servicing Assets 170printNote 13 - Premises and Equipment 174printNote 14 - Other Real Estate Owned 175printNote 15 - Other Assets 176printNote 16 - Investment in Equity Investees 177printNote 17 - Goodwill and Other Intangible Assets 178printNote 18 - Deposits 182printNote 19 - Borrowings 183printNote 20 - Trust Preferred Securities 186printNote 21 - Other Liabilities 187printNote 22 - Stockholders Equity 188printNote 23 - Regulatory Capital Requirements 190printNote 24 - Other Comprehensive Loss 192printNote 25 - Guarantees 194printNote 26 - Commitments and Contingencies 197printNote 27- Non-consolidated Variable Interest Entities 204printNote 28 - Derivative Instruments and Hedging Activities 206printNote 29 - Related Party Transactions 210printNote 30 - Fair Value Measurement 215printNote 31 - Fair Value Of Financial Instruments 223printNote 32 - Employee Benefits 226printNote 33 - Net Income Per Common Share 233printNote 34 - Revenue From Contracts with Customers 234printNote 35 - Leases 236printNote 36 - Fdic Loss Share Income (expense) 238printNote 37 - Stock-based Compensation 239printNote 38 - Income Taxes 242printNote 39 - Supplemental Disclosure on The Consolidated Statements Of Cash Flows 247printNote 40 - Segment Reporting 248printNote 41 - Popular, Inc. (holding Company Only) Financial Information 254printNote 42 - Condensed Consolidating Financial Information Of Guarantor and Issuers Of Registered Guaranteed Securities 257printNote 43 - Subsequent Events 272printNote 1 Nature Of OperationsprintNote 2 Summary Of Significant Accounting PoliciesprintNote 3 - New Accounting PronouncementsprintNote 4 Business CombinationprintNote 5 - Restrictions on Cash and Due From Banks and Certain SecuritiesprintNote 6 Debt Securities Available-for-saleprintNote 7 Debt Securities Held-to-maturityprintNote 8 LoansprintNote 9 Allowance For Loan LossesprintNote 10 Fdic Loss-share Asset and True-up Payment ObligationprintNote 11 Mortgage Banking ActivitiesprintNote 12 Transfers Of Financial Assets and Mortgage Servicing AssetsprintNote 13 - Premises and EquipmentprintNote 14 Other Real Estate OwnedprintNote 15 Other AssetsprintNote 16 - Investments in Equity InvesteesprintNote 17 Goodwill and Other Intangible AssetsprintNote 18 DepositsprintNote 19 BorrowingsprintNote 20 Trust Preferred SecuritiesprintNote 21 Other LiabilitiesprintNote 22 Stockholders EquityprintNote 23 Regulatory Capital RequirementsprintNote 24 Other Comprehensive LossprintNote 25 GuaranteesprintNote 26 Commitments and ContingenciesprintNote 27 Non-consolidated Variable Interest EntitiesprintNote 28 Derivative Instruments and Hedging ActivitiesprintNote 29 Related Party TransactionsprintNote 30 Fair Value MeasurementprintNote 31 Fair Value Of Financial InstrumentsprintNote 32 Employee BenefitsprintNote 33 Net Income Per Common ShareprintNote 34 Revenue From Contracts with CustomersprintNote 35 LeasesprintNote 36 Fdic Loss Share Income (expense)printNote 37 - Stock-based CompensationprintNote 38 Income TaxesprintNote 39 Supplemental Disclosure on The Consolidated Statements Of Cash FlowsprintNote 40 Segment ReportingprintNote 41 - Popular, Inc. (holding Company Only) Financial InformationprintNote 42 Condensed Consolidating Financial Information Of Guarantor and Issuers Of Registered Guaranteed SecuritiesprintNote 43 Subsequent Eventsprint

Exhibits

2.1 Agreement and Plan of Merger dated as of June 30, 2010, among Popular, Inc., AP Carib Holdings Ltd., Carib Acquisition, Inc. and EVERTEC, Inc. (incorporated by reference to Exhibit 2.1 of Popular, Inc.s Current Report on Form 8-K dated July 1, 2010 and filed on July 8, 2010). 2.2 Second Amendment to the Agreement and Plan of Merger, dated as of August 8, 2010, among Popular, Inc., EVERTEC, Inc., AP Carib Holdings, Ltd. and Carib Acquisition, Inc. (incorporated by reference to Exhibit 2.1 of Popular, Inc.s Current Report on Form 8-K dated August 8, 2010 and filed on August 12, 2010). 2.3 Third Amendment to the Agreement and Plan of Merger, dated as of September 15, 2010, among Popular, Inc., EVERTEC, Inc., AP Carib Holdings, Ltd. And Carib Acquisition, Inc. (incorporated by reference to Exhibit 2.1 of Popular, Inc.s Current Report on Form 8- K dated September 15, 2010 and filed on September 21, 2010). 2.4 Fourth Amendment to the Agreement and Plan of Merger, dated as of September 30, 2010, among Popular, Inc., EVERTEC, Inc., AP Carib Holdings, Ltd. and Carib Acquisition, Inc. (incorporated by reference to Exhibit 2.1 of Popular, Inc.s Current Report on Form 8- K dated September 30, 2010 and filed on October 6, 2010). 3.1 Restated Certificate of Incorporation of Popular, Inc. (incorporated by reference to Exhibit 3.1 of the Corporations Quarterly Report on Form 10-Q for the quarter ended June 30, 2018). 3.2 Amended and Restated Bylaws of Popular, Inc. (incorporated by reference to Exhibit 3.1 of Popular, Inc.s Current Report on Form 8-K dated and filed on January 2, 2020). 4.1 Specimen of Physical Common Stock Certificate of Popular, Inc. (incorporated by reference to Exhibit 4.1 of Popular, Inc.s Current Report on Form 8-K dated May 29, 2012 and filed on May 30, 2012). 4.4 Certificate of Designation of Popular, Inc.s 8.25% Non-Cumulative Monthly Income Preferred Stock, Series B (incorporated by reference to Exhibit 3 of Popular, Inc.s Form 8-A filed on May 28, 2008). 4.5 Form of certificate representing the Popular, Inc.s 8.25% Non-Cumulative Monthly Income Preferred Stock, Series B (incorporated by reference to Exhibit 4 of Popular, Inc.s Form 8-A filed on May 28, 2008). 4.12 Description of Popular, Inc.s securities registered pursuant to Section 12 of the Securities Exchange Act. (1) 10.1 Amended and Restated Master Services Agreement, dated as of September 30, 2010, among Popular, Banco Popular de Puerto Rico and EVERTEC, Inc. (incorporated by reference to Exhibit 99.1 of Popular, Inc.s Current Report on Form 8-K dated and filed on October 14, 2011). 10.2 Technology Agreement, dated as of September 30, 2010, between Popular, Inc. and EVERTEC, Inc. (incorporated by reference to Exhibit 99.4 of Popular, Inc.s Current Report on Form 8-K dated September 30, 2010 and filed on October 6, 2010). 10.3 Stockholder Agreement, dated as of April 17, 2012, among Carib Latam Holdings, Inc., and each of the holders of Carib Latam Holdings, Inc. (incorporated by reference to Exhibit 99.1 of Popular, Inc.s Current Report on Form 8-K dated April 17, 2012 and filed on April 23, 2012). 10.9 Compensation Agreement for Alejandro M. Ballester as director of Popular, Inc., dated January 28, 2010 (incorporated by reference to Exhibit 10.9 of Popular, Inc.s Annual Report on Form 10-K for the year ended December 31, 2009). * 10.10 Compensation Agreement for Carlos A. Unanue as director of Popular, Inc., dated January 28, 2010 (incorporated by reference to Exhibit 10.10 of Popular, Inc.s Annual Report on Form 10-K for the year ended December 31, 2009). * 10.11 Compensation Agreement for C. Kim Goodwin as director of Popular, Inc., dated May 10, 2011 (incorporated by reference to Exhibit 10.1 of Popular, Inc.s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011). * 10.12 Compensation Agreement for Joaquin E. Bacardi, III as director of Popular, Inc., dated April 30, 2013 (incorporated by reference to Exhibit 10.2 of Popular, Inc.s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013). * 10.13 Compensation Agreement for John. W. Diercksen as director of Popular, Inc., dated October 18, 2013 (incorporated by reference to Exhibit 10.13 of Popular, Inc.s Annual Report on 10-K for the year ended December 31, 2013). * 10.14 Form of 2015 Long-Term Equity Incentive Award and Agreement (incorporated by reference to Exhibit 10.1 of Popular, Inc.s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015). * 10.15 Form of 2016 Long-Term Equity Incentive Award and Agreement (incorporated by reference to Exhibit 10.27 of Popular, Inc.s Annual Report on Form 10-K for the year ended December 31, 2015). * 10.16 Form of Director Compensation Letter, Election Form and Restricted Stock Agreement, effective April 26, 2016 (incorporated by reference to Exhibit 10.1 of Popular, Inc.s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016). * 10.17 Form of 2017 Long-Term Equity Incentive Award and Agreement (incorporated by reference to Exhibit 10.1 of Popular, Inc.s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017). * 10.18 Long-Term Equity Incentive Award and Agreement for Ignacio Alvarez, dated as of June 22, 2017 (incorporated by reference to Exhibit 10.1 of Popular, Inc.s Quarterly report on Form 10-Q for the quarter ended June 30, 2017). * 10.19 Form of Popular, Inc. 2018 Long-Term Equity Incentive Award and Agreement (incorporated by reference to Exhibit 10.1 of Popular, Inc.s Quarterly Report on Form 10-Q for the quarter ended March 31, 2018). * 10.20 Director Compensation Letter, Election Form and Restricted Stock Agreement for Myrna M. Soto, dated June 22, 2018 (incorporated by reference to Exhibit 10.1 of Popular, Inc.s Quarterly Report on Form 10-Q for the quarter ended June 30, 2018). * 10.21 Director Compensation Letter, Election Form and Restricted Stock Agreement for Robert Carrady, dated December 29, 2018 (incorporated by reference to Exhibit 10.25 of Popular, Inc.s Annual Report on Form 10-K for the year ended December 31, 2018). * 10.22 Form of Director Compensation Letter, Election Form and Restricted Stock Unit Award Agreement, effective May 7, 2019 (incorporated by reference to Exhibit 10.26 of Popular, Inc.s Annual Report on Form 10-K for the year ended December 31, 2018). * 10.23 Form of Popular, Inc. 2019 Long-Term Equity Incentive Award and Agreement (incorporated by reference to Exhibit 10.1 of Popular, Inc.s Quarterly Report on Form 10-Q for the quarter ended March 31, 2019). * 10.24 Director Compensation Letter, Election Form and Restricted Stock Unit Award Agreement for Richard L. Carrin, dated July 1, 2019 (incorporated by reference to Exhibit 10.1 of Popular, Inc.s Annual Report on Form 10-Q for the quarter ended September 30, 2019). * 13.1 Popular, Inc.s Annual Report to Shareholders for the year ended December 31, 2019. (1) 21.1 Schedule of Subsidiaries of Popular, Inc. (1) 23.1 Consent of Independent Registered Public Accounting Firm. (1) 31.1 Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. (1) 31.2 Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. (1) 32.1 Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (1) 32.2 Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (1)