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INTEREST AND DIVIDEND ON INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
Investment Income, Interest and Dividend [Abstract]  
Schedule of interest on investments and FHLB dividend income
Year Ended
 
December 31,
 
2021
2020
2019
(In thousands)
MBS:
 
Taxable
$
31,398
$
9,404
$
7,812
 
Exempt
(1)
18,667
30,877
29,232
50,065
40,281
37,044
Puerto Rico government obligations, U.S. Treasury securities, and U.S.
 
government agencies:
 
Taxable
5,513
1,032
165
 
Exempt
(1)
15,859
15,235
19,623
21,372
16,267
19,788
Other investment securities (including FHLB dividends)
 
 
Taxable
1,456
1,999
2,714
Total interest income on
 
investment securities
72,893
58,547
59,546
Interest on money market investments and interest-bearing cash accounts:
 
Taxable
2,661
3,386
13,205
 
Exempt
 
1
2
148
Total interest income on money market
 
investments and interest-bearing cash accounts
2,662
3,388
13,353
Total interest and
 
dividend income on investment securities, money market
 
investments, and interest-bearing cash accounts
$
75,555
$
61,935
$
72,899
(1)
Primarily MBS and government obligations held by International Banking
 
Entities (as defined in the International Baking Entity Act
 
of Puerto Rico), whose interest income and sales are
exempt from Puerto Rico income taxation under that act,
 
as well as tax-exempt Puerto Rico municipal bonds held as part
 
of the held-to-maturity investment securities portfolio.
The following table summarizes the components of interest and dividend
 
income on investments:
Year Ended
 
December 31,
2021
2020
2019
(In thousands)
Interest income on investment securities, money
 
market investments, and interest-bearing cash accounts
$
74,114
$
59,952
$
70,201
Dividends on FHLB stock
 
1,394
1,959
2,682
Dividends on other equity securities
47
24
16
Total interest income
 
and dividends on investments
$
75,555
$
61,935
$
72,899