SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2023

SEGMENT INFORMATION [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 quarter ended March 31, 2023:

Interest income

$

31,907

$

83,174

$

62,343

$

27,466

$

31,114

$

6,392

$

242,396

Net (charge) credit for transfer of funds

(10,119)

77,735

(47,403)

(19,539)

(674)

-

-

Interest expense

-

(23,165)

-

(8,585)

(9,510)

(251)

(41,511)

Net interest income (loss)

21,788

137,744

14,940

(658)

20,930

6,141

200,885

Provision for credit losses - (benefit) expense

(506)

15,224

(2,536)

(9)

4,655

(1,326)

15,502

Non-interest income

3,074

22,034

4,175

160

847

2,228

32,518

Direct non-interest expenses

5,087

41,627

9,365

947

8,304

6,825

72,155

 Segment income (loss)

$

20,281

$

102,927

$

12,286

$

(1,436)

$

8,818

$

2,870

$

145,746

Average earnings assets

$

2,171,061

$

3,174,150

$

3,713,633

$

6,216,498

$

2,067,848

$

366,338

$

17,709,528

Mortgage

Banking

Consumer

(Retail) Banking

Commercial and

Corporate

Banking

Treasury and

Investments

United States

Operations

Virgin Islands

Operations

Total

(In thousands)

For the quarter ended March 31, 2022:

Interest income

$

33,071

$

70,437

$

47,027

$

22,184

$

18,857

$

6,278

$

197,854

Net (charge) credit for transfer of funds

(7,292)

24,282

(6,612)

(9,949)

(429)

-

-

Interest expense

-

(5,173)

-

(4,826)

(1,946)

(285)

(12,230)

Net interest income 

25,779

89,546

40,415

7,409

16,482

5,993

185,624

Provision for credit losses - (benefit) expense

(3,703)

11,144

(16,622)

(388)

(3,547)

(686)

(13,802)

Non-interest income (loss)

5,252

20,463

4,554

(112)

744

1,957

32,858

Direct non-interest expenses

6,906

39,271

8,859

885

8,479

6,973

71,373

 Segment income

$

27,828

$

59,594

$

52,732

$

6,800

$

12,294

$

1,663

$

160,911

Average earnings assets

$

2,293,648

$

2,759,482

$

3,664,104

$

8,145,949

$

2,065,638

$

378,169

$

19,306,990

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:

Quarter Ended March 31,

2023

2022

(In thousands)

Net income: 

Total income for segments 

$

145,746

$

160,911

Other operating expenses

 (1)

43,113

35,286

Income before income taxes

102,633

125,625

Income tax expense

31,935

43,025

 Total consolidated net income

$

70,698

$

82,600

Average assets:

Total average earning assets for segments 

$

17,709,528

$

19,306,990

Average non-earning assets 

847,628

947,011

 Total consolidated average assets

$

18,557,156

$

20,254,001

(1)

Expenses pertaining to corporate administrative functions that support the operating segment, but are not specifically attributable to or managed by any segment, are not included in the

reported financial results of the operating segments. The unallocated corporate expenses include certain general and administrative expenses and related depreciation and amortization

expenses.