SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2016

Information about the Reportable Segments

The following table presents information about the reportable segments:
(In thousands)	Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
For the quarter ended March 31, 2016:
Interest income	$	35,219	$	46,066	$	33,548	$	13,760	$	12,724	$	9,514	$	150,831
Net (charge) credit for transfer of funds		(12,924)		3,882		(6,096)		14,526		612		-		-
Interest expense		-		(6,162)		-		(15,469)		(3,689)		(863)		(26,183)
Net interest income		22,295		43,786		27,452		12,817		9,647		8,651		124,648
(Provision) release for loan and lease losses		(6,140)		(8,537)		(7,548)		-		(210)		1,382		(21,053)
Non-interest income (loss)		4,487		12,736		561		(2,401)		1,183		1,903		18,469
Direct non-interest expenses		(10,833)		(32,089)		(9,664)		(1,050)		(7,261)		(6,989)		(67,886)
Segment income	$	9,809	$	15,896	$	10,801	$	9,366	$	3,359	$	4,947	$	54,178
Average earnings assets	$	2,602,209	$	2,030,598	$	2,552,200	$	2,777,748	$	1,140,630	$	629,037	$	11,732,422
(In thousands)	Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
For the quarter ended March 31, 2015:
Interest income	$	33,876	$	49,836	$	34,803	$	13,067	$	11,231	$	9,672	$	152,485
Net (charge) credit for transfer of funds		(11,236)		3,684		(3,795)		7,754		3,593		-		-
Interest expense		-		(5,657)		-		(16,007)		(4,339)		(835)		(26,838)
Net interest income		22,640		47,863		31,008		4,814		10,485		8,837		125,647
(Provision) release for loan and lease losses		(6,963)		(16,685)		(9,093)		-		2,133		(2,362)		(32,970)
Non-interest income (loss)		3,399		12,417		524		(100)		524		2,522		19,286
Direct non-interest expenses		(8,065)		(31,559)		(7,979)		(1,339)		(7,183)		(8,580)		(64,705)
Segment income	$	11,011	$	12,036	$	14,460	$	3,375	$	5,959	$	417	$	47,258
Average earnings assets	$	2,492,247	$	2,045,277	$	3,028,358	$	2,764,058	$	971,887	$	639,162	$	11,940,989

Reconciliation of the Reportable Segment Financial Information

The following table presents a reconciliation of the reportable segment financial information to the consolidated totals:
		Quarter Ended
		March 31,
		2016		2015
Net income:
Total income for segments and other		$	54,178	$	47,258
Other non-interest gain (loss) (1)			-		13,443
Other operating expenses (2)			(25,111)		(27,023)
Income before income taxes			29,067		33,678
Income tax expense			(5,723)		(8,032)
Total consolidated net income		$	23,344	$	25,646
Average assets:
Total average earning assets for segments		$	11,732,422	$	11,940,989
Average non-earning assets			922,010		934,999
Total consolidated average assets		$	12,654,432	$	12,875,988
(1)	The bargain purchase gain on the acquisition of assets and assumption of deposits from Doral Bank in 2015 is presented as an Other non-interest gain (loss) in the table above.
(2)	Expenses pertaining to corporate administrative functions that support the operating segment but are not specifically attributable to or managed by any segment are not included in the reported financial results of the operating segments. The unallocated corporate expenses include certain general and administrative expenses and related depreciation and amortization expenses.