BPOP 10-K Annual Report Dec. 31, 2020 | Alphaminr

BPOP 10-K Fiscal year ended Dec. 31, 2020

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 130printNote 2 - Summary Of Significant Accounting Policies 131printNote 3 - New Accounting Pronouncements 142printNote 4 - Restrictions on Cash and Due From Banks and Certain Securities 148printNote 5 - Debt Securities Available-for-sale 149printNote 6 - Debt Securities Held-to-maturity 152printNote 7 - Loans 155printNote 8 - Allowance For Credit Losses Loans Held-in-portfolio 164printNote 9 - Mortgage Banking Activities 184printNote 10 - Transfers Of Financial Assets and Mortgage Servicing Assets 185printNote 11 - Premises and Equipment 188printNote 12 - Other Real Estate Owned 189printNote 13 - Other Assets 190printNote 14 - Goodwill and Other Intangible Assets 191printNote 15 - Deposits 195printNote 16 - Borrowings 196printNote 17 - Trust Preferred Securities 198printNote 18 - Other Liabilities 199printNote 19 - Stockholders Equity 200printNote 20 - Regulatory Capital Requirements 202printNote 21 - Other Comprehensive Income (loss) 205printNote 22 - Guarantees 207printNote 23 - Commitments and Contingencies 210printNote 24- Non-consolidated Variable Interest Entities 217printNote 25 - Derivative Instruments and Hedging Activities 219printNote 26 - Related Party Transactions 223printNote 27 - Fair Value Measurement 227printNote 28 - Fair Value Of Financial Instruments 237printNote 29 - Employee Benefits 240printNote 30 - Net Income Per Common Share 248printNote 31 - Revenue From Contracts with Customers 249printNote 32 - Leases 251printNote 33 - Stock-based Compensation 253printNote 34 - Income Taxes 256printNote 35 - Supplemental Disclosure on The Consolidated Statements Of Cash Flows 262printNote 36 - Segment Reporting 263printNote 37 - Popular, Inc. (holding Company Only) Financial Information 268printNote 1 Nature Of OperationsprintNote 2 Summary Of Significant Accounting PoliciesprintNote 3 - New Accounting PronouncementsprintNote 4 - Restrictions on Cash and Due From Banks and Certain SecuritiesprintNote 5 Debt Securities Available-for-saleprintNote 6 Debt Securities Held-to-maturityprintNote 7 LoansprintNote 8 Allowance For Credit Losses Loans Held-in-portfolioprintNote 9 Mortgage Banking ActivitiesprintNote 10 Transfers Of Financial Assets and Mortgage Servicing AssetsprintNote 11 - Premises and EquipmentprintNote 12 Other Real Estate OwnedprintNote 13 Other AssetsprintNote 14 Goodwill and Other Intangible AssetsprintNote 15 DepositsprintNote 16 BorrowingsprintNote 17 Trust Preferred SecuritiesprintNote 18 Other LiabilitiesprintNote 19 Stockholders EquityprintNote 20 Regulatory Capital RequirementsprintNote 21 Other Comprehensive Income (loss)printNote 22 GuaranteesprintNote 23 Commitments and ContingenciesprintNote 24 Non-consolidated Variable Interest EntitiesprintNote 25 Derivative Instruments and Hedging ActivitiesprintNote 26 Related Party TransactionsprintNote 27 Fair Value MeasurementprintNote 28 Fair Value Of Financial InstrumentsprintNote 29 Employee BenefitsprintNote 30 Net Income Per Common ShareprintNote 31 Revenue From Contracts with CustomersprintNote 32 LeasesprintNote 33 - Stock-based CompensationprintNote 34 Income TaxesprintNote 35 Supplemental Disclosure on The Consolidated Statements Of Cash FlowsprintNote 36 Segment ReportingprintNote 37 - Popular, Inc. (holding Company Only) Financial Informationprint

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). 4.10 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). 10.4 Popular, Inc. 2020 Omnibus Incentive Plan (incorporated by reference to Exhibit 4.4 of Popular, Inc.s Form S-8 filed on May 12, 2020). * 10.7 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). * 10.8 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). * 10.9 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). * 10.10 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). * 10.11 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). * 10.12 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). * 10.13 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). * 10.14 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). * 10.15 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). * 10.16 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). * 10.17 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). * 10.18 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). * 10.19 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). * 10.20 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). * 10.21 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). * 10.22 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). * 10.25 Form of Popular, Inc. 2020 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, 2020). * 10.26 Form of Director Compensation Election Form and Restricted Stock Unit Award Agreement, effective May 12, 2020 (incorporated by reference to Exhibit 10.2 of Popular, Inc.s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020). * 13.1 Popular, Inc.s Annual Report to Shareholders for the year ended December 31, 2020. (1) 21.1 Schedule of Subsidiaries of Popular, Inc. (1) 22.1 Issuers of Guaranteed Securities (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)