REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

Year ended December 31, 2021:

Mortgage

Banking

Consumer

(Retail)

Banking

Commercial and

Corporate

Treasury and

Investments

United States

Operations

Virgin Islands

Operations

Total

(In thousands)

Net interest income

(1)

$

104,638

$

281,703

$

191,917

$

59,331

$

65,967

$

26,373

$

729,929

Service charges and fees on deposit accounts

-

20,083

11,807

-

555

2,839

35,284

Insurance commissions

-

11,166

-

-

114

665

11,945

Merchant-related income

-

6,279

1,079

-

51

1,055

8,464

Credit and debit card fees

-

26,360

83

-

19

1,602

28,064

Other service charges and fees

771

4,185

2,640

-

1,825

556

9,977

Not in scope of ASC Topic 606

 (1)

23,507

1,701

423

227

1,399

173

27,430

 Total non-interest income

24,278

69,774

16,032

227

3,963

6,890

121,164

Total Revenue

$

128,916

$

351,477

$

207,949

$

59,558

$

69,930

$

33,263

$

851,093

Year ended December 31, 2020: 

Mortgage

Banking

Consumer

(Retail)

Banking

Commercial and

Corporate

Treasury and

Investments

United States

Operations

Virgin Islands

Operations

Total

(In thousands)

Net interest income

 (1)

$

76,025

$

220,678

$

135,591

$

87,879

$

54,025

$

26,124

$

600,322

Service charges and fees on deposit accounts

-

13,286

8,026

-

553

2,747

24,612

Insurance commissions

-

8,754

-

-

52

558

9,364

Merchant-related income

-

4,516

478

-

41

809

5,844

Credit and debit card fees

-

18,218

62

-

16

1,469

19,765

Other service charges and fees

342

2,900

2,260

184

1,800

1,508

8,994

Not in scope of Topic 606

 (1)(2)

21,727

3,288

1,780

13,524

2,168

160

42,647

 Total non-interest income

22,069

50,962

12,606

13,708

4,630

7,251

111,226

Total Revenue

$

98,094

$

271,640

$

148,197

$

101,587

$

58,655

$

33,375

$

711,548

Year ended December 31, 2019: 

Mortgage

Banking

Consumer

(Retail)

Banking

Commercial and

Corporate

Treasury and

Investments

United States

Operations

Virgin Islands

Operations

Total

(In thousands)

Net interest income

(1)

$

68,803

$

244,535

$

91,266

$

73,626

$

62,539

$

26,312

$

567,081

Service charges and fees on deposit accounts

-

14,534

5,811

-

631

2,940

23,916

Insurance commissions

-

9,621

-

-

67

498

10,186

Merchant-related income

-

4,120

466

-

-

1,049

5,635

Credit and debit card fees

-

19,014

104

-

43

1,744

20,905

Other service charges and fees

216

3,012

2,690

-

1,558

1,313

8,789

Not in scope of Topic 606 (1)

16,609

1,428

2,643

(225)

508

178

21,141

 Total non-interest income

16,825

51,729

11,714

(225)

2,807

7,722

90,572

Total Revenue

$

85,628

$

296,264

$

102,980

$

73,401

$

65,346

$

34,034

$

657,653

(1)

Most of the Corporation’s revenue is not within the scope of ASC Topic 606. The guidance explicitly excludes net interest income from financial assets and

liabilities, as well as other non-interest income from loans, leases, investment securities and derivative financial instruments.

(2)

For the year ended December 31, 2020, includes a $

5.0

 million benefit resulting from the final settlement of the Corporation’s business interruption insurance

claim related to lost profits caused by Hurricanes Irma and Maria in 2017. This insurance recovery is presented as part of other non-interest income in the

consolidated statements of income.

Activity of Contract Liabilities [Table Text Block]

(In thousands)

2021

2020

2019

Beginning Balance

$

2,151

$

2,476

$

2,071

Plus:

Additions

-

-

730

Less:

Revenue recognized

(708)

(325)

(325)

Ending balance

$

1,443

$

2,151

$

2,476