Various loans secured by first mortgages were assigned as collateral for term notes, certificates of deposit, advances from the Federal Home Loan Bank, and unused lines of credit. The mortgage loans pledged as collateral amounted to $195,267,091 and $104,739,882 at December 31, 2001 and 2000, respectively. At December 31, 2001, $10.7 million ($13.1 million at December 31, 2000) in commercial and real estate loans over $1,000,000 was considered impaired with an allowance of $3.7 million ($7.8 million at December 31, 2000), of which $2 million was established based on the fair value of the collateral (2000-$392,000) and $1.7 million was established based on the present value of expected future cash flows (2000-$7.4 million). There were no consumer loans over $1,000,000 considered impaired at December 31, 2001 and 2000. The average recorded investment in impaired loans amounted to $11.9 million for 2001 (2000 - $8.8 million). Interest income in the amount of approximately $376,900 was recognized on impaired loans in 2001 (2000 - approximately $227,000; 1999 - approx- imately $428,000). First BanCorp.> 2001 0 66 Note 14 - Allowance for Loan Losses >. The changes in the allowance for loan losses were as follows: Year ended December 31, 2001 2000 1999 (In thousands) Balance at beginning of period $76,919 $71,784 $67,854 Provision charged to income 61,030 45,719 47,961  Losses charged against the allowance (54,380 (51,831 (53,665 Recoveries credited to the allowance 7,391 9,807 9,048  Other adjustments 100 1,440 586  Balance at end of period $91,060 $76,919 $71,784 ) ) )