SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Information about the Reportable Segments

The following table presents information about the reportable segments for the indicated periods:
(In thousands)	Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate Banking		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
For the Quarter Ended September 30, 2020:
Interest income	$	32,293	$	60,157	$	37,571	$	12,572	$	20,427	$	7,382	$	170,402
Net (charge) credit for transfer of funds		(11,627)		3,514		(1,768)		11,972		(2,091)		-		-
Interest expense		-		(9,348)		-		(5,967)		(5,418)		(973)		(21,706)
Net interest income		20,666		54,323		35,803		18,577		12,918		6,409		148,696
Provision for credit losses		(11,614)		(12,404)		(19,139)		-		(1,679)		(2,078)		(46,914)
Non-interest income (loss)		6,756		12,315		2,838		5,457		1,058		1,510		29,934
Direct non-interest expenses		(7,659)		(32,035)		(6,251)		(717)		(8,387)		(7,231)		(62,280)
Segment income (loss)	$	8,149	$	22,199	$	13,251	$	23,317	$	3,910	$	(1,390)	$	69,436
Average earnings assets	$	2,243,345	$	2,197,601	$	3,064,272	$	4,725,125	$	2,061,596	$	466,315	$	14,758,254
(In thousands)	Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate Banking		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
For the Quarter Ended September 30, 2019:
Interest income	$	30,091	$	55,772	$	39,146	$	15,671	$	24,229	$	7,386	$	172,295
Net (charge) credit for transfer of funds		(13,100)		16,557		(13,447)		11,411		(1,421)		-		-
Interest expense		-		(10,165)		-		(8,935)		(7,831)		(939)		(27,870)
Net interest income		16,991		62,164		25,699		18,147		14,977		6,447		144,425
(Provision) release for credit losses		(2,134)		(11,187)		5,677		-		(1,462)		1,708		(7,398)
Non-interest income (loss)		4,400		12,705		2,331		(433)		640		1,758		21,401
Direct non-interest expenses		(7,768)		(30,282)		(8,256)		(740)		(8,496)		(7,105)		(62,647)
Segment income	$	11,489	$	33,400	$	25,451	$	16,974	$	5,659	$	2,808	$	95,781
Average earnings assets	$	2,141,383	$	2,009,060	$	2,487,409	$	2,485,141	$	1,963,559	$	466,707	$	11,553,259

(In thousands)	Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate Banking		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
Nine-Month Period Ended September 30, 2020
Interest income	$	89,353	$	174,848	$	102,225	$	41,631	$	63,754	$	22,471	$	494,282
Net (charge) credit for transfer of funds		(34,176)		19,485		(15,594)		34,441		(4,156)		-		-
Interest expense		-		(28,724)		-		(20,523)		(19,659)		(2,821)		(71,727)
Net interest income		55,177		165,609		86,631		55,549		39,939		19,650		422,555
Provision for credit losses		(29,491)		(56,254)		(51,844)		(2,765)		(15,944)		(6,996)		(163,294)
Non-interest income		14,843		36,634		7,673		13,777		2,534		5,565		81,026
Direct non-interest expenses		(22,647)		(89,659)		(19,688)		(2,133)		(25,221)		(21,970)		(181,318)
Segment income (loss)	$	17,882	$	56,330	$	22,772	$	64,428	$	1,308	$	(3,751)	$	158,969
Average earnings assets	$	2,076,419	$	2,141,329	$	2,684,803	$	3,690,782	$	2,025,482	$	460,217	$	13,079,032
(In thousands)	Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate Banking		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
Nine-Month Period Ended September 30, 2019
Interest income	$	91,493	$	158,548	$	114,643	$	47,553	$	73,350	$	22,690	$	508,277
Net (charge) credit for transfer of funds		(39,442)		54,743		(45,472)		34,403		(4,232)		-		-
Interest expense		-		(27,377)		-		(29,152)		(21,790)		(2,806)		(81,125)
Net interest income		52,051		185,914		69,171		52,804		47,328		19,884		427,152
(Provision) release for credit losses		(9,241)		(28,982)		12,665		-		(7,764)		1,982		(31,340)
Non-interest income (loss)		12,255		39,238		7,146		(287)		1,942		5,873		66,167
Direct non-interest expenses		(25,810)		(88,533)		(26,869)		(2,031)		(25,641)		(22,090)		(190,974)
Segment income	$	29,255	$	107,637	$	62,113	$	50,486	$	15,865	$	5,649	$	271,005
Average earnings assets	$	2,182,680	$	1,914,372	$	2,509,611	$	2,429,576	$	1,935,768	$	470,236	$	11,442,243

Reconciliation of the Reportable Segment Financial Information

The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods:
	Quarter Ended				Nine-Month Period Ended
	September 30,				September 30,
	2020		2019		2020		2019
Net income :
Total income for segments	$	69,436	$	95,781	$	158,969	$	271,005
Other operating expenses (1)		(45,228)		(30,186)		(108,160)		(85,180)
Income before income taxes		24,208		65,595		50,809		185,825
Income tax (benefit) expense		(4,405)		19,268		(1,326)		54,897
Total consolidated net income	$	28,613	$	46,327	$	52,135	$	130,928
Average assets:
Total average earning assets for segments	$	14,758,254	$	11,553,259	$	13,079,032	$	11,442,243
Average non-earning assets		1,047,401		933,250		975,744		964,799
Total consolidated average assets	$	15,805,655	$	12,486,509	$	14,054,776	$	12,407,042