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, IncItem 1. BusinessItem 1A. Risk FactorsItem 1B. Unresolved Staff CommentsItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Mine Safety DisclosurePart IIItem 5. Market For Registrant S Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity SecuritiesItem 6. [reserved]Item 7. Management S Discussion and Analysis Of Financial Condition and Results Of OperationsItem 7A. Quantitative and Qualitative Disclosures About Market RiskItem 8. Financial Statements and Supplementary DataItem 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresItem 9B. Other InformationItem 9C. Disclosure Regarding Foreign Jurisdictions That Prevent InspectionsPart IIIItem 10. Directors, Executive Officers and Corporate GovernanceItem 11. Executive CompensationItem 12. Security Ownership Of Certain Beneficial Owners and Management and Related Stockholders MattersItem 13. Certain Relationships and Related Transactions, and Director IndependenceItem 14. Principal Accountant Fees and ServicesPart IVItem 15. Exhibits and Financial Statement SchedulesItem 16. Form 10-k SummaryNote 1 - Nature Of Operations 121Note 2 - Summary Of Significant Accounting Policies 122Note 3 - New Accounting Pronouncements 132Note 4 - Business Combination 136Note 5 - Restrictions on Cash and Due From Banks and Certain Securities 138Note 6 - Debt Securities Available-for-sale 139Note 7 - Debt Securities Held-to-maturity 143Note 8 - Loans 146Note 9 - Allowance For Credit Losses Loans Held-in-portfolio 155Note 10 - Mortgage Banking Activities 177Note 11 - Transfers Of Financial Assets and Mortgage Servicing Assets 178Note 12 - Premises and Equipment 181Note 13 - Other Real Estate Owned 182Note 14 - Other Assets 183Note 15 - Goodwill and Other Intangible Assets 184Note 16 - Deposits 188Note 17 - Borrowings 189Note 18 - Trust Preferred Securities 192Note 19 - Other Liabilities 194Note 20 - Stockholders Equity 195Note 21 - Regulatory Capital Requirements 197Note 22 - Other Comprehensive (loss) Income 200Note 23 - Guarantees 202Note 24 - Commitments and Contingencies 205Note 25- Non-consolidated Variable Interest Entities 211Note 26 - Derivative Instruments and Hedging Activities 213Note 27 - Related Party Transactions 216Note 28 - Fair Value Measurement 220Note 29 - Fair Value Of Financial Instruments 229Note 30 - Employee Benefits 232Note 31 - Net Income Per Common Share 240Note 32 - Revenue From Contracts with Customers 241Note 33 - Leases 243Note 34 - Stock-based Compensation 245Note 35 - Income Taxes 248Note 36 - Supplemental Disclosure on The Consolidated Statements Of Cash Flows 253Note 37 - Segment Reporting 254Note 38 - Popular, Inc. (holding Company Only) Financial Information 259Note 39 - Subsequent Events 262Note 1 Nature Of OperationsNote 2 Summary Of Significant Accounting PoliciesNote 3 - New Accounting PronouncementsNote 4 Business CombinationNote 5 - Restrictions on Cash and Due From Banks and Certain SecuritiesNote 6 Debt Securities Available-for-saleNote 7 Debt Securities Held-to-maturityNote 8 LoansNote 9 Allowance For Credit Losses Loans Held-in-portfolioNote 10 Mortgage Banking ActivitiesNote 11 Transfers Of Financial Assets and Mortgage Servicing AssetsNote 12 - Premises and EquipmentNote 13 Other Real Estate OwnedNote 14 Other AssetsNote 15 Goodwill and Other Intangible AssetsNote 16 DepositsNote 17 BorrowingsNote 18 Trust Preferred SecuritiesNote 19 Other LiabilitiesNote 20 Stockholders EquityNote 21 Regulatory Capital RequirementsNote 22 Other Comprehensive (loss) IncomeNote 23 GuaranteesNote 24 Commitments and ContingenciesNote 25 Non-consolidated Variable Interest EntitiesNote 26 Derivative Instruments and Hedging ActivitiesNote 27 Related Party TransactionsNote 28 Fair Value MeasurementNote 29 Fair Value Of Financial InstrumentsNote 30 Employee BenefitsNote 31 Net Income Per Common ShareNote 32 Revenue From Contracts with CustomersNote 33 LeasesNote 34 - Stock-based CompensationNote 35 Income TaxesNote 36 Supplemental Disclosure on The Consolidated Statements Of Cash FlowsNote 37 Segment ReportingNote 38 - Popular, Inc. (holding Company Only) Financial InformationNote 39 Subsequent Events

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)