SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2024

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)

Quarter ended March 31,2024:

Interest income

$

31,443

$

94,795

$

72,112

$

28,058

$

34,765

$

7,332

$

268,505

Net (charge) credit for transfer of funds

(15,620)

96,251

(57,184)

(21,472)

(1,975)

-

-

Interest expense

-

(42,099)

-

(13,118)

(14,542)

(2,226)

(71,985)

Net interest income (loss)

15,823

148,947

14,928

(6,532)

18,248

5,106

196,520

Provision for credit losses - (benefit) expense

(260)

15,418

(2,439)

(69)

82

(565)

12,167

Non-interest income 

3,019

23,406

4,501

83

901

2,073

33,983

Direct non-interest expenses

6,705

42,645

10,339

1,071

9,110

6,591

76,461

 Segment income (loss)

$

12,397

$

114,290

$

11,529

$

(7,451)

$

9,957

$

1,153

$

141,875

Average earning assets

$

2,126,465

$

3,472,998

$

4,022,173

$

5,900,314

$

2,087,816

$

413,219

$

18,022,985

Mortgage

Banking

Consumer

(Retail) Banking

Commercial and

Corporate

Banking

Treasury and

Investments

United States

Operations

Virgin Islands

Operations

Total

(In thousands)

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 earning assets

$

2,171,061

$

3,174,150

$

3,713,633

$

6,216,498

$

2,067,848

$

366,338

$

17,709,528

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,

2024

2023

(In thousands)

Net income: 

Total income for segments 

$

141,875

$

145,746

Other non-interest expenses

 (1)

44,462

43,113

Income before income taxes

97,413

102,633

Income tax expense

23,955

31,935

 Total consolidated net income

$

73,458

$

70,698

Average assets:

Total average earning assets for segments 

$

18,022,985

$

17,709,528

Average non-earning assets 

835,314

847,628

 Total consolidated average assets

$

18,858,299

$

18,557,156

(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.