XML 29 R14.htm IDEA: XBRL DOCUMENT v3.22.4
PREMISES AND EQUIPMENT
12 Months Ended
Dec. 31, 2022
PREMISES AND EQUIPMENT [Abstract]  
PREMISES AND EQUIPMENT [Text Block]
NOTE 6 – PREMISES AND EQUIPMENT
Premises and equipment comprise:
Useful Life Range In Years
As of December 31,
Minimum
Maximum
2022
2021
(Dollars in thousands)
Buildings and improvements
10
35
$
135,802
$
138,524
Leasehold improvements
1
10
76,390
79,419
Furniture, equipment and software
2
10
155,567
148,171
367,759
366,114
Accumulated depreciation and amortization
(264,233)
(251,659)
103,526
114,455
Land
24,485
23,873
Projects in progress
14,924
8,089
 
Total premises and equipment,
 
net
$
142,935
$
146,417
Depreciation and
 
amortization expense
 
amounted to
 
$
22.3
 
million, $
25.0
 
million, and
 
$
20.1
 
million for
 
the years ended
 
December
31, 2022, 2021, and 2020, respectively.
During
 
the year
 
ended December
 
31, 2021,
 
the Corporation
 
received insurance
 
proceeds of
 
$
0.6
 
million related
 
to the
 
settlement
and collection of an
 
insurance claim associated with a
 
damaged property.
 
This amount is included as
 
part of other non-interest
 
income
in the consolidated statements of income.
 
During
 
the year
 
ended December
 
31,
 
2020, the
 
Corporation
 
received
 
insurance proceeds
 
of $
5.0
 
million
 
resulting
 
from
 
the final
settlement
 
of
 
the
 
business
 
interruption
 
insurance
 
claim related
 
to
 
lost profits
 
caused
 
by Hurricanes
 
Irma
 
and
 
Maria. This
 
amount
 
is
included
 
as
 
part
 
of
 
other
 
non-interest
 
income
 
in
 
the
 
consolidated
 
statements
 
of
 
income.
 
In
 
addition,
 
during
 
2020,
 
the
 
Corporation
received insurance
 
proceeds of
 
$
1.2
 
million related
 
to hurricane-related
 
expenses claims
 
recorded as
 
a contra-account
 
of non-interest
expenses, primarily consisting of occupancy and equipment costs.
 
See Note 25 - Fair Value
 
for information on write-downs recorded on long-lived assets held for
 
sale as of December 31, 2022. Also,
see Note
 
20 –
 
Other
 
Non-Interest
 
Income
 
for
 
gains on
 
sales of
 
fixed
 
assets recognized
 
during
 
the years
 
ended December
 
31,
 
2022,
2021, and 2020.