Incorporated in the Commonwealth of Puerto Rico IRS Employer Identification No. Whenever we make loans, we expose ourselves to credit risk. This also includes a review of the applicable legal documentation. Credit unions generally provide basic consumer financial services. Popular and PNA have elected to be treated as financial holding companies. Available InformationWe maintain an Internet website at www.popular.com. Increases in FDIC insurance premiums may have a material adverse effect on our earnings. Actual values may differ significantly from these estimates. We could be required to post additional collateral under the agreements. The term of the MSA extends until September 30, 2025. During 2009, we suspended dividend payments on our 34 Common Stock and Preferred Stock. This could adversely affect the market price of our Common Stock and Preferred Stock. The branch closures were completed on January 29, 2021. Stop 22 Building, a twelve-story structure located in Santurce, Puerto Rico. The Corporation accounted for the ASR as a treasury stock transaction. This transaction increased by $2.20 the Corporation's tangible book value per share. 10.11 Compensation Agreement for John. The Corporation has several investments which it accounts for under the equity method. As of the end of the year, 97% of COVID-19 payment deferrals had expired. Non-accrual loans are those loans on which the accrual of interest is discontinued. For information on the Corporation's TDR policy, refer to Note 2. Therefore, these loans were not considered non-performing. The Corporation also provides certain health care benefits for retired employees of BPPR. The Pension Plans' assets fair value at December 31, 2020 was $878.8 million. 63 The OPEB Plan was unfunded (no assets were held by the plan) at December 31, 2020. By hedging the risk in this manner, the effective cost of these deposits is fixed. Refer to Table 8 for a breakdown of deposits by major types. In March 2020, the World Health Organization declared COVID-19 a pandemic. In the case of mortgage loans, the moratorium period was extended through August 2020. These figures were $406 million and $26 million, respectively, at December 31, 2019. CERTIFIED PUBLIC ACCOUNTANTS (OF PUERTO RICO)License No. Refer to Note 19 for additional information. [ Purchases and sales of securities are recognized on a trade date basis. Commercial unsecured loans are charged-off no later than 180 days past due. Recoveries on future losses are contemplated as part of the loss severity modeling. This assessment took into consideration factors listed as part of ASC 326-20-55-4. The modified loans are considered TDRs. As such our risk is very limited.
