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Loans | 12 Months Ended
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Dec. 31, 2021
Borrowings [abstract] |
Loans | 10. Loans The following table presents the loan portfolio according to its classification and subsequent measurement:
| December 31, 2021 |  | December 31, 2020
Loans, outstanding balance | 5,734,605 |  |  | 4,911,397 |
Interest receivable | 23,308 |  |  | 27,350 |
Loss allowances | (41,476) |  |  | (41,165) |
Unearned interest and deferred fees | (8,728) |  |  | (5,884) |
Loans at amortized cost | 5,707,709 |  |  | 4,891,698 |
Loans at FVTPL (1) | 5,313 |  |  | 4,949 |
Loans, net | 5,713,022 |  |  | 4,896,647 |
(1)The Bank realized the sale of debt instruments measured at FVTPL for $5.8 million. As a result, the Bank recognized a loan and classified it at FVTPL with a carrying amount of $5.3 million and $4.9 million as of December 31, 2021 and 2020, respectively. The fixed and floating interest rate distribution of the loan portfolio is as follows:
| December 31, 2021 |  | December 31, 2020
Fixed interest rate | 3,327,310 |  |  | 2,544,544 |
Floating interest rates | 2,412,608 |  |  | 2,371,802 |
Total | 5,739,918 |  |  | 4,916,346 |
As of December 31, 2021, and 2020, 71% and 41% of the loan portfolio at fixed interest rates has remaining maturities of less than 180 days. Interest rates on loans ranges from 0.53% to 10.23% (December 31, 2020 0.43% to 9.70%). The following table details information relating to loans granted to class A and B shareholders:
| December 31, 2021 |  | December 31, 2020
Class A and B shareholder loans | 467,000 |  |  | 522,316 |
% Loans to class A and B shareholders over total loan portfolio | 8 | % |  | 11 | %
% Class A and B stockholders with loans over number of class A and B stockholders | 10 | % |  | 12 | %
10. Loans (continued) Modified financial assets The following table refers to modified financial assets during the period, where modification does not result in de-recognition:
| December 31, 2021 |  | December 31. 2020
Gross carrying amount before modification | 65,000 |  |  | 8,829 |
Allowance loss before modification (1) | (12,739) |  |  | (1,796) |
Net amortized cost before modification | 52,261 |  |  | 7,033 |
Gross carrying amount after modification | 65,000 |  |  | 8,829 |
Allowance loss after modification (2) | (12,699) |  |  | (1,802) |
Net amortized cost after modification | 52,301 |  |  | 7,027 |
(1)Expected credit loss for 12 months. (2)Expected credit loss within the life of the financial asset. Recognition and derecognition of financial assets During the year ended December 31, 2020, a Stage 3 impaired loan was sold for $11.6 million and a Stage 2 loan with a significant increase in credit risk was sold for $13.2 million, both classified at amortized cost. This resulted in a write-off against reserves of $56.1 million. These sales were made based on compliance with the Bank's strategy to optimize credit risk of its loan portfolio.

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