Guarantees (Tables)

9 Months Ended

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