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v3.21.2

Guarantees (Tables) | 9 Months Ended
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Sep. 30, 2021
Guarantee on loans sold or serviced with credit recourse |
Guarantor Obligations |
Credit recourse agreements reserve |
| Quarters ended September 30, |  |  | Nine months ended September 30, |  |
(In thousands) | 2021 |  |  | 2020 |  |  | 2021 |  | 2020 |  |
Balance as of beginning of period | $ | 15,662 |  |  | $ | 31,305 |  |  | $ | 22,484 |  | $ | 34,862 |  |
Impact of adopting CECL |  | - |  |  |  | - |  |  |  | - |  |  | (3,831) |  |
Provision (benefit) for recourse liability |  | (1,959) |  |  |  | (4,058) |  | [1] |  | (2,710) |  |  | 1,356 |  | [1]
Net charge-offs |  | (1,052) |  |  |  | (362) |  |  |  | (7,123) |  |  | (5,502) |  |
Balance as of end of period | $ | 12,651 |  |  | $ | 26,885 |  |  | $ | 12,651 |  | $ | 26,885 |  |
[1] Includes a release of $5.1 million recorded in connection with the bulk loan repurchase of $120 million loans from FNMA and FHLMC completed during the quarter ended September 30, 2020.
Banco Popular de Puerto Rico | Guarantee on loans sold or serviced with representation and warranties |
Guarantor Obligations |
Estimated losses associated with indemnifications and representations and warranties related to loans sold |
|  | Quarters ended September 30, |  | Nine months ended September 30,
(In thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Balance as of beginning of period | $ | 2,078 | $ | 3,122 | $ | 2,297 | $ | 3,212
Provision (benefit) for representation and warranties |  | (79) |  | (125) |  | (298) |  | (215)
Balance as of end of period | $ | 1,999 | $ | 2,997 | $ | 1,999 | $ | 2,997

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