INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2023
INCOME TAXES [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The components of income tax expense are summarized below for the indicated periods: Year Ended December 31, 2023 2022 2021 (In thousands) Current income tax expense $ 88,467 $ 88,296 $ 28,469 Deferred income tax expense 6,105 54,216 118,323 Total income tax expense $ 94,572 $ 142,512 $ 146,792
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The Corporation maintains an effective tax rate lower than the Puerto Rico maximum statutory tax rate of 37.5 %. The differences between the income tax expense applicable to income before the provision for income taxes and the amount computed by applying the statutory tax rate in Puerto Rico were as follows for the indicated periods: Year Ended December 31, 2023 2022 2021 Amount % of Pretax Income Amount % of Pretax Income Amount % of Pretax Income (Dollars in thousands) Computed income tax at statutory rate $ 149,038 37.5 % $ 167,844 37.5 % $ 160,431 37.5 % Federal and state taxes 10,008 2.4 % 10,268 2.2 % 7,014 1.6 % Benefit of net exempt income (35,153) (8.8) % (31,266) (7.0) % (20,717) (4.8) % Disallowed NOL carryforward resulting from net exempt income (1) - - % 14,221 3.2 % 8,791 2.0 % Deferred tax valuation allowance (1) - - % (8,410) (1.9) % (13,572) (3.2) % Share-based compensation windfall (2,134) (0.5) % (1,492) (0.3) % (1,044) (0.2) % Preferential tax treatment on qualified investing and lending activities (19,125) (4.8) % (4,500) (1.0) % - - % Other permanent differences (5,138) (1.3) % (3,147) (0.7) % (1,185) (0.3) % Tax return to provision adjustments (1,709) (0.4) % (519) (0.1) % (406) (0.1) % Other-net (1,215) (0.3) % (487) (0.1) % 7,480 1.7 % Total income tax expense $ 94,572 23.8 % $ 142,512 31.8 % $ 146,792 34.2 % (1) During 2022 the Corporation fully utilized certain NOLs which under the PR Tax Code were disallowed for carryforward purposes; therefore, there was no adjustment in 2023 in the amount of disallowed NOL carryforward and any related deferred tax valuation allowance.
Schedule of significant components Deferred Tax Assets and Liabilities [Table Text Block]	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases. Significant components of the Corporation's deferred tax assets and liabilities as of December 31, 2023 and 2022 were as follows: As of December 31, 2023 2022 (In thousands) Deferred tax asset: NOL and capital loss carryforwards $ 48,633 $ 72,485 Allowance for credit losses 102,005 104,014 Alternative Minimum Tax credits available for carryforward 39,898 40,823 Unrealized loss on OREO valuation 6,360 6,462 Settlement payment-closing agreement - 7,031 Legal and other reserves 4,059 6,345 Reserve for insurance premium cancellations 824 781 Differences between the assigned values and tax bases of assets and liabilities recognized in purchase business combinations 6,690 5,665 Unrealized loss on available-for-sale debt securities, net 82,944 100,776 Other 7,833 7,722 Total gross deferred tax assets $ 299,246 $ 352,104 Deferred tax liabilities: Servicing assets 9,002 9,786 Pension Plan assets 832 719 Other 97 509 Total gross deferred tax liabilities 9,931 11,014 Valuation allowance (139,188) (185,506) Net deferred tax asset $ 150,127 $ 155,584