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SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Schedule Of Segment Reporting Information By Segment [Text Block]

The following tables present information about the reportable segments for the indicated periods:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Banking

 

Consumer (Retail) Banking

 

Commercial and Corporate Banking

 

Treasury and Investments

 

United States Operations

 

Virgin Islands Operations

 

Total

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

$

128,043

 

$

240,725

 

$

155,254

 

$

55,003

 

$

84,169

 

$

29,788

 

$

692,982

Net (charge) credit for transfer of funds

 

(52,018)

 

 

18,771

 

 

(19,663)

 

 

59,074

 

 

(6,164)

 

 

-

 

 

-

Interest expense

 

-

 

 

(38,818)

 

 

-

 

 

(26,198)

 

 

(23,980)

 

 

(3,664)

 

 

(92,660)

Net interest income

 

76,025

 

 

220,678

 

 

135,591

 

 

87,879

 

 

54,025

 

 

26,124

 

 

600,322

Provision for credit losses

 

(22,518)

 

 

(54,094)

 

 

(74,607)

 

 

(2,774)

 

 

(12,592)

 

 

(4,400)

 

 

(170,985)

Non-interest income

 

22,069

 

 

50,962

 

 

12,606

 

 

13,708

 

 

4,630

 

 

7,251

 

 

111,226

Direct non-interest expenses

 

(33,054)

 

 

(131,133)

 

 

(28,631)

 

 

(3,449)

 

 

(33,782)

 

 

(28,815)

 

 

(258,864)

Segment income

$

42,522

 

$

86,413

 

$

44,959

 

$

95,364

 

$

12,281

 

$

160

 

$

281,699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average earnings assets

$

2,241,753

 

$

2,202,595

 

$

3,039,786

 

$

4,232,144

 

$

2,026,619

 

$

458,608

 

$

14,201,505

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Banking

 

Consumer (Retail) Banking

 

Commercial and Corporate Banking

 

Treasury and Investments

 

United States Operations

 

Virgin Islands Operations

 

Total

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

$

120,981

 

$

216,066

 

$

148,224

 

$

63,175

 

$

97,406

 

$

30,045

 

$

675,897

Net (charge) credit for transfer of funds

 

(52,178)

 

 

66,675

 

 

(56,958)

 

 

47,477

 

 

(5,016)

 

 

-

 

 

-

Interest expense

 

-

 

 

(38,206)

 

 

-

 

 

(37,026)

 

 

(29,851)

 

 

(3,733)

 

 

(108,816)

Net interest income

 

68,803

 

 

244,535

 

 

91,266

 

 

73,626

 

 

62,539

 

 

26,312

 

 

567,081

(Provision) release for credit losses

 

(13,499)

 

 

(41,043)

 

 

17,977

 

 

-

 

 

(7,296)

 

 

4,048

 

 

(39,813)

Non-interest income (loss)

 

16,825

 

 

51,729

 

 

11,714

 

 

(225)

 

 

2,807

 

 

7,722

 

 

90,572

Direct non-interest expenses

 

(34,825)

 

 

(116,854)

 

 

(35,130)

 

 

(2,729)

 

 

(34,070)

 

 

(28,995)

 

 

(252,603)

Segment income

$

37,304

 

$

138,367

 

$

85,827

 

$

70,672

 

$

23,980

 

$

9,087

 

$

365,237

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average earnings assets

$

2,161,772

 

$

1,960,352

 

$

2,489,933

 

$

2,487,084

 

$

1,931,015

 

$

467,252

 

$

11,497,408

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Banking

 

Consumer (Retail) Banking

 

Commercial and Corporate Banking

 

Treasury and Investments

 

United States Operations

 

Virgin Islands Operations

 

Total

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

$

127,042

 

$

181,166

 

$

138,706

 

$

61,913

 

$

83,971

 

$

32,169

 

$

624,967

Net (charge) credit for transfer of funds

 

(47,653)

 

 

65,092

 

 

(60,031)

 

 

44,540

 

 

(1,948)

 

 

-

 

 

-

Interest expense

 

-

 

 

(28,325)

 

 

-

 

 

(44,825)

 

 

(22,967)

 

 

(3,467)

 

 

(99,584)

Net interest income

 

79,389

 

 

217,933

 

 

78,675

 

 

61,628

 

 

59,056

 

 

28,702

 

 

525,383

Provision for credit losses

 

(13,083)

 

 

(23,516)

 

 

(4,540)

 

 

-

 

 

(11,882)

 

 

(5,968)

 

 

(58,989)

Non-interest income

 

17,073

 

 

47,706

 

 

5,158

 

 

2,505

 

 

3,020

 

 

6,848

 

 

82,310

Direct non-interest expenses

 

(38,213)

 

 

(112,176)

 

 

(32,635)

 

 

(2,966)

 

 

(33,566)

 

 

(30,963)

 

 

(250,519)

Segment income (loss)

$

45,166

 

$

129,947

 

$

46,658

 

$

61,167

 

$

16,628

 

$

(1,381)

 

$

298,185

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average earnings assets

$

2,258,974

 

$

1,636,002

 

$

2,530,635

 

$

2,552,130

 

$

1,750,155

 

$

537,574

 

$

11,265,470
Reconciliation of the Reportable Segment Financial Information [Table Text Block]

 

The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods:

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2020

 

2019

 

2018

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income:

 

 

 

 

 

 

 

 

 

Total income for segments and other

$

281,699

 

$

365,237

 

$

298,185

 

Other operating expenses (1)

 

(165,376)

 

 

(125,865)

 

 

(107,547)

 

Income before income taxes

 

116,323

 

 

239,372

 

 

190,638

 

Income tax expense (benefit)

 

14,050

 

 

71,995

 

 

(10,970)

 

Total consolidated net income

$

102,273

 

$

167,377

 

$

201,608

 

Average assets:

 

 

 

 

 

 

 

 

 

Total average earning assets for segments

$

14,201,505

 

$

11,497,408

 

$

11,265,470

 

Average non-earning assets

 

1,031,141

 

 

954,726

 

 

940,731

 

Total consolidated average assets

$

15,232,646

 

$

12,452,134

 

$

12,206,201

 

 
Schedule of revenues and selected balance sheet data by geography [Table Text Block]

 

The following table presents revenues (interest income plus non-interest income) and selected balance sheet data by geography based on the location in which the transaction was originated as of indicated dates:

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

2019

 

2018

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

Puerto Rico

$

678,370

 

$

628,489

 

$

581,269

 

United States

 

88,799

 

 

100,213

 

 

86,991

 

Virgin Islands

 

37,039

 

 

37,767

 

 

39,017

 

Total consolidated revenues

$

804,208

 

$

766,469

 

$

707,277

 

 

 

 

 

 

 

 

 

 

 

Selected Balance Sheet Information:

 

 

 

 

 

 

 

 

 

Total assets:

 

 

 

 

 

 

 

 

 

Puerto Rico

$

16,091,112

 

$

10,059,890

 

$

9,797,267

 

United States

 

2,117,966

 

 

2,048,260

 

 

1,940,633

 

Virgin Islands

 

583,993

 

 

503,116

 

 

505,661

 

Loans:

 

 

 

 

 

 

 

 

 

Puerto Rico

$

9,367,032

 

$

6,695,953

 

$

6,586,033

 

United States

 

1,993,797

 

 

1,879,346

 

 

1,834,088

 

Virgin Islands

 

466,749

 

 

466,383

 

 

481,188

 

Deposits:

 

 

 

 

 

 

 

 

 

Puerto Rico (1)

$

12,338,934

 

$

6,422,864

 

$

6,208,531

 

United States (2)

 

1,622,481

 

 

1,661,657

 

 

1,519,362

 

Virgin Islands

 

1,355,968

 

 

1,263,908

 

 

1,266,821