BPOP 10-K Annual Report Dec. 31, 2021 | Alphaminr

BPOP 10-K Fiscal year ended Dec. 31, 2021

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. [reserved]printItem 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 InformationprintItem 9C. Disclosure Regarding Foreign Jurisdictions That Prevent InspectionsprintPart 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 121printNote 2 - Summary Of Significant Accounting Policies 122printNote 3 - New Accounting Pronouncements 132printNote 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 146printNote 9 - Allowance For Credit Losses Loans Held-in-portfolio 155printNote 10 - Mortgage Banking Activities 177printNote 11 - Transfers Of Financial Assets and Mortgage Servicing Assets 178printNote 12 - Premises and Equipment 181printNote 13 - Other Real Estate Owned 182printNote 14 - Other Assets 183printNote 15 - Goodwill and Other Intangible Assets 184printNote 16 - Deposits 188printNote 17 - Borrowings 189printNote 18 - Trust Preferred Securities 192printNote 19 - Other Liabilities 194printNote 20 - Stockholders Equity 195printNote 21 - Regulatory Capital Requirements 197printNote 22 - Other Comprehensive (loss) Income 200printNote 23 - Guarantees 202printNote 24 - Commitments and Contingencies 205printNote 25- Non-consolidated Variable Interest Entities 211printNote 26 - Derivative Instruments and Hedging Activities 213printNote 27 - Related Party Transactions 216printNote 28 - Fair Value Measurement 220printNote 29 - Fair Value Of Financial Instruments 229printNote 30 - Employee Benefits 232printNote 31 - Net Income Per Common Share 240printNote 32 - Revenue From Contracts with Customers 241printNote 33 - Leases 243printNote 34 - Stock-based Compensation 245printNote 35 - Income Taxes 248printNote 36 - Supplemental Disclosure on The Consolidated Statements Of Cash Flows 253printNote 37 - Segment Reporting 254printNote 38 - Popular, Inc. (holding Company Only) Financial Information 259printNote 39 - Subsequent Events 262printNote 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 Credit Losses Loans Held-in-portfolioprintNote 10 Mortgage Banking ActivitiesprintNote 11 Transfers Of Financial Assets and Mortgage Servicing AssetsprintNote 12 - Premises and EquipmentprintNote 13 Other Real Estate OwnedprintNote 14 Other AssetsprintNote 15 Goodwill and Other Intangible AssetsprintNote 16 DepositsprintNote 17 BorrowingsprintNote 18 Trust Preferred SecuritiesprintNote 19 Other LiabilitiesprintNote 20 Stockholders EquityprintNote 21 Regulatory Capital RequirementsprintNote 22 Other Comprehensive (loss) IncomeprintNote 23 GuaranteesprintNote 24 Commitments and ContingenciesprintNote 25 Non-consolidated Variable Interest EntitiesprintNote 26 Derivative Instruments and Hedging ActivitiesprintNote 27 Related Party TransactionsprintNote 28 Fair Value MeasurementprintNote 29 Fair Value Of Financial InstrumentsprintNote 30 Employee BenefitsprintNote 31 Net Income Per Common ShareprintNote 32 Revenue From Contracts with CustomersprintNote 33 LeasesprintNote 34 - Stock-based CompensationprintNote 35 Income TaxesprintNote 36 Supplemental Disclosure on The Consolidated Statements Of Cash FlowsprintNote 37 Segment ReportingprintNote 38 - Popular, Inc. (holding Company Only) Financial InformationprintNote 39 Subsequent Eventsprint

Exhibits

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). * 10.27 Form of Popular, Inc. 2021 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, 2021). * 10.28 Form of Director Compensation Letter, Election Form and Restricted Stock Unit Award Agreement for Betty DeVita and Jos R. Rodriguez, effective June 25, 2021 (incorporated by reference to Exhibit 10.1 of Popular, Inc.s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021). * 10.29 Asset Purchase Agreement, dated as of February 24, 2022, among Evertec, Inc. and Evertec Group, LLC, Popular, Inc. and Banco Popular de Puerto Rico (incorporated by reference to Exhibit 2.1 of Popular, Inc.s Current Report on Form 8-K dated and filed on February 24, 2022). 13.1 Popular, Inc.s Annual Report to Shareholders for the year ended December 31, 2021. (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)