SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2017

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 September 30, 2017:
Interest income	$	32,317	$	43,769	$	31,083	$	13,374	$	18,446	$	9,006	$	147,995
Net (charge) credit for transfer of funds		(11,268)		9,351		(8,748)		11,198		(533)		-		-
Interest expense		-		(6,520)		-		(12,924)		(4,932)		(787)		(25,163)
Net interest income		21,049		46,600		22,335		11,648		12,981		8,219		122,832
(Provision) release for loan and lease losses		(20,495)		(33,067)		(13,621)		-		(789)		(7,041)		(75,013)
Non-interest income		2,908		11,242		1,014		1,459		697		1,325		18,645
Direct non-interest expenses		(8,174)		(27,193)		(8,102)		(1,014)		(7,605)		(7,254)		(59,342)
Segment (loss) income	$	(4,712)	$	(2,418)	$	1,626	$	12,093	$	5,284	$	(4,751)	$	7,122
Average earning assets	$	2,434,963	$	1,758,653	$	2,477,266	$	2,228,990	$	1,581,726	$	602,366	$	11,083,964
(In thousands)	Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
For the quarter ended September 30, 2016:
Interest income	$	34,605	$	44,455	$	28,981	$	12,529	$	13,944	$	9,059	$	143,573
Net (charge) credit for transfer of funds		(12,074)		2,810		(6,700)		15,839		125		-		-
Interest expense		-		(6,323)		-		(14,487)		(3,811)		(774)		(25,395)
Net interest income		22,531		40,942		22,281		13,881		10,258		8,285		118,178
(Provision) release for loan and lease losses		(3,860)		(8,655)		(8,162)		-		2,024		(2,850)		(21,503)
Non-interest income		5,222		11,292		985		6,154		884		1,609		26,146
Direct non-interest expenses		(8,864)		(27,100)		(11,871)		(914)		(7,556)		(7,097)		(63,402)
Segment income	$	15,029	$	16,479	$	3,233	$	19,121	$	5,610	$	(53)	$	59,419
Average earning assets	$	2,549,358	$	1,973,424	$	2,410,037	$	2,565,019	$	1,252,271	$	604,150	$	11,354,259

(In thousands)	Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
Nine-Month Period Ended September 30, 2017
Interest income	$	99,361	$	130,055	$	90,858	$	41,788	$	50,910	$	27,625	$	440,597
Net (charge) credit for transfer of funds		(34,466)		20,799		(27,071)		41,858		(1,120)		-		-
Interest expense		-		(18,603)		-		(36,842)		(13,499)		(2,368)		(71,312)
Net interest income		64,895		132,251		63,787		46,804		36,291		25,257		369,285
Provision for loan and lease losses		(40,598)		(47,976)		(20,906)		-		(885)		(8,186)		(118,551)
Non-interest income (loss)		11,258		37,224		2,972		(10,273)		1,776		4,480		47,437
Direct non-interest expenses		(27,675)		(82,677)		(27,240)		(3,190)		(23,579)		(20,922)		(185,283)
Segment income	$	7,880	$	38,822	$	18,613	$	33,341	$	13,603	$	629	$	112,888
Average earning assets	$	2,469,037	$	1,771,376	$	2,500,180	$	2,176,164	$	1,492,727	$	609,765	$	11,019,249
(In thousands)	Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
Nine-Month Period Ended September 30, 2016
Interest income	$	104,865	$	135,655	$	93,915	$	39,206	$	40,091	$	27,606	$	441,338
Net (charge) credit for transfer of funds		(37,673)		10,546		(18,212)		44,226		1,113		-		-
Interest expense		-		(18,765)		-		(45,828)		(11,214)		(2,477)		(78,284)
Net interest income		67,192		127,436		75,703		37,604		29,990		25,129		363,054
(Provision) release for loan and lease losses		(21,608)		(24,451)		(17,730)		-		1,563		(1,316)		(63,542)
Non-interest income		14,381		35,318		2,459		3,815		2,799		5,621		64,393
Direct non-interest expenses		(29,828)		(87,218)		(33,194)		(3,462)		(23,070)		(20,757)		(197,529)
Segment income	$	30,137	$	51,085	$	27,238	$	37,957	$	11,282	$	8,677	$	166,376
Average earning assets	$	2,576,194	$	1,989,426	$	2,489,268	$	2,774,118	$	1,188,463	$	613,666	$	11,631,135

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				Nine-Month Period Ended
		September 30,				September 30,
		2017		2016		2017		2016
Net income :
Total segment income		$	7,122	$	59,419	$	112,888	$	166,376
Other operating expenses (1)			(26,272)		(24,901)		(77,282)		(73,315)
(Loss) income before income taxes			(19,150)		34,518		35,606		93,061
Income tax benefit (expense)			8,398		(10,444)		7,181		(23,690)
Total consolidated net (loss) income		$	(10,752)	$	24,074	$	42,787	$	69,371
Average assets:
Total average earning assets for segments		$	11,083,964	$	11,354,259	$	11,019,249	$	11,631,135
Average non-earning assets			900,334		926,043		896,071		927,732
Total consolidated average assets		$	11,984,298	$	12,280,302	$	11,915,320	$	12,558,867
(1)	Expenses pertaining to corporate administrative functions that support the operating segments 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.