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LOAN and Restructuring Plan

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   The following table details the expenses recorded by the               the 2008 plan, all operational and support functions will be
Corporation that were associated with this particular restructuring       transferred to BPNA and EVERTEC.
plan.                                                                        The 2008 E-LOAN Restructuring Plan is estimated to be
                                                                          completed by mid-2009.
(In millions)                                         December 31, 2008      Refer to Note 35 to the consolidated financial statements for
Personnel costs                                                $5.3 (a)   information on the results of operations of E-LOAN, which are
Net occupancy expenses                                          8.9 (b)   part of BPNA’s reportable segment.
Total restructuring costs                                    $14.2
Impairment losses on long-lived assets                          5.5 (c)                                  For the year ended                      For the year ended
                                                             $19.7                                       December 31, 2008                       December 31, 2007
(a) Severance, retention bonuses and other benefits                                                   E-LOAN         E-LOAN                              E-LOAN
(b) Lease terminations
(c) Leasehold improvements, furniture and equipment                                                     2008           2007                                2007
                                                                                                    Restructuring Restructuring                       Restructuring
                                                                          (In millions)                 Plan           Plan                                Plan
   The following table presents the activity in the reserve for
                                                                          Personnel costs                $3.0         ($0.3)                                $4.6 (a)
restructuring costs associated with the BPNA Restructuring Plan.
                                                                          Net occupancy
                                                                            expenses               -                             0.1                                4.2 (b)
(In millions)                                         December 31, 2008   Equipment
Balance at January 1, 2008                                      -           expenses               -                               -                                0.4 (c)
Charges expensed during the year                            $14.2         Professional fees        -                               -                                0.4 (c)
Payments made during the year                                 (3.3)       Other operating
                                                                            expenses              0.1                              -                                 -
Balance as of December 31, 2008                             $10.9
                                                                          Total restructuring
                                                                            charges              $3.1                          ($0.2)                             $9.6
    The reserve balances at December 31, 2008 were mostly related         Impairment losses on
to lease terminations.                                                      long-lived assets     8.0                             -                               10.5 (d)
                                                                          Goodwill and trademark
                                                                            impairment losses    10.9                            -                              211.8 (e)
E-LOAN 2007 and 2008 Restructuring Plan
                                                                          Total                $22.0                           ($0.2)                          $231.9
As indicated in the 2007 Annual Report, in November 2007, the
                                                                           (a) Severance, retention bonuses and other benefits
Corporation approved an initial restructuring plan for E-LOAN              (b) Lease terminations
                                                                           (c) Service contract terminations
(the “E-LOAN 2007 Restructuring Plan”). This plan included a               (d) Consists mostly of leasehold improvements, equipment and intangible assets with definite lives
substantial reduction of marketing and personnel costs at E-LOAN           (e) Goodwill impairment of $164.4 million and trademark impairment of $47.4 million

and changes in E-LOAN’s business model. At that time, the
changes included concentrating marketing investment toward                   The following table presents the activity in the reserve for
the Internet and the origination of first mortgage loans that qualify     restructuring costs associated with the E-LOAN 2007 and 2008
for sale to government sponsored entities (“GSEs”). Also, as a            Restructuring Plans for the year ended December 31, 2008.
result of escalating credit costs and lower liquidity in the
secondary markets for mortgage related products, in the fourth                                                        E-LOAN 2007        E-LOAN 2008
quarter of 2007, the Corporation determined to hold back the              (In millions)                             Restructuring Plan Restructuring Plan
origination by E-LOAN of home equity lines of credit, closed-             Balance at January 1, 2008                       $8.8                 -
end second lien mortgage loans and auto loans.                            Charges expensed during
   These efforts implemented during 2007 and early 2008 proved              the year                                           (0.2)                         $3.1
not to be sufficient given the unprecedented market conditions            Payments made during
and disappointing financial results. As previously explained, the           the year                                           (6.4)                         (0.1)
Corporation’s Board of Directors approved in October 2008 a               Balance at December 31, 2008                         $2.2                          $3.0
new restructuring plan for E-LOAN (the “E-LOAN 2008
Restructuring Plan”). This plan involved E-LOAN ceasing to
operate as a direct lender, an event that occurred in late 2008. E-
LOAN will continue to market deposit accounts under its name
for the benefit of BPNA and offer loan customers the option of
being referred to a trusted consumer lending partner. As part of

				
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