Segment reporting (Tables)

6 Months Ended

Jun. 30, 2020

Table Text Block

Results of Operations and Total Assets

2020
For the quarter ended June 30, 2020
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	387,164	$	73,704	$	4
Provision for credit losses				59,789		2,681		-
Non-interest income				95,803		6,413		(136)
Amortization of intangibles				1,605		166		-
Depreciation expense				12,074		2,105		-
Other operating expenses				283,533		50,876		(135)
Income tax expense				18,105		7,267		-
Net income			$	107,861	$	17,022	$	3
Segment assets			$	51,967,412	$	10,594,628	$	(35,439)
For the quarter ended June 30, 2020
		Reportable
(In thousands)		Segments		Corporate		Eliminations		Total Popular, Inc.
Net interest income (expense)	$	460,872	$	(9,991)	$	-	$	450,881
Provision (reversal) for credit losses		62,470		(21)		-		62,449
Non-interest income		102,080		11,954		(1,979)		112,055
Amortization of intangibles		1,771		25		-		1,796
Depreciation expense		14,179		236		-		14,415
Other operating expenses		334,274		(1,345)		(909)		332,020
Income tax expense (benefit)		25,372		(330)		(414)		24,628
Net income	$	124,886	$	3,398	$	(656)	$	127,628
Segment assets	$	62,526,601	$	5,219,408	$	(4,900,657)	$	62,845,352

For the six months ended June 30, 2020
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	796,790	$	146,393	$	7
Provision for credit losses				173,371		78,672		-
Non-interest income				207,945		11,645		(276)
Amortization of intangibles				3,887		333		-
Depreciation expense				24,361		4,058		-
Other operating expenses				583,910		106,070		(272)
Income tax expense (benefit)				33,206		(4,684)		-
Net income (loss)			$	186,000	$	(26,411)	$	3
Segment assets			$	51,967,412	$	10,594,628	$	(35,439)
For the six months ended June 30, 2020
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	943,190	$	(19,214)	$	-	$	923,976
Provision for credit losses		252,043		137		-		252,180
Non-interest income		219,314		21,415		(2,031)		238,698
Amortization of intangibles		4,220		49		-		4,269
Depreciation expense		28,419		482		-		28,901
Other operating expenses		689,708		(308)		(1,731)		687,669
Income tax expense (benefit)		28,522		(652)		(145)		27,725
Net income	$	159,592	$	2,493	$	(155)	$	161,930
Segment assets	$	62,526,601	$	5,219,408	$	(4,900,657)	$	62,845,352

2019
For the quarter ended June 30, 2019
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	411,549	$	74,637	$	(61)
Provision for credit losses				28,821		11,216		-
Non-interest income				123,388		5,492		(140)
Amortization of intangibles				2,180		166		-
Depreciation expense				12,243		2,001		-
Other operating expenses				297,428		51,741		(137)
Income tax expense				36,751		4,097		-
Net income			$	157,514	$	10,908	$	(64)
Segment assets			$	40,698,293	$	9,723,815	$	(114,605)
For the quarter ended June 30, 2019
		Reportable
(In thousands)		Segments		Corporate		Eliminations		Total Popular, Inc.
Net interest income (expense)	$	486,125	$	(9,809)	$	-	$	476,316
Provision for credit losses		40,037		154		-		40,191
Non-interest income		128,740		11,339		(1,753)		138,326
Amortization of intangibles		2,346		25		-		2,371
Depreciation expense		14,244		185		-		14,429
Other operating expenses		349,032		(1,944)		(873)		346,215
Income tax expense (benefit)		40,848		(180)		(338)		40,330
Net income	$	168,358	$	3,290	$	(542)	$	171,106
Segment assets	$	50,307,503	$	5,062,632	$	(4,752,914)	$	50,617,221

For the six months ended June 30, 2019
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	818,906	$	147,465	$	(57)
Provision for credit losses				60,170		21,587		-
Non-interest income				244,158		11,356		(281)
Amortization of intangibles				4,302		332		-
Depreciation expense				24,182		4,169		-
Other operating expenses				578,126		100,350		(273)
Income tax expense				82,127		9,312		-
Net income			$	314,157	$	23,071	$	(65)
Segment assets			$	40,698,293	$	9,723,815	$	(114,605)
For the six months ended June 30, 2019
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	966,314	$	(19,035)	$	-	$	947,279
Provision for credit losses		81,757		259		-		82,016
Non-interest income		255,233		21,400		(1,877)		274,756
Amortization of intangibles		4,634		49		-		4,683
Depreciation expense		28,351		373		-		28,724
Other operating expenses		678,203		414		(1,589)		677,028
Income tax expense (benefit)		91,439		(766)		(120)		90,553
Net income	$	337,163	$	2,036	$	(168)	$	339,031
Segment assets	$	50,307,503	$	5,062,632	$	(4,752,914)	$	50,617,221

2020
For the quarter ended June 30, 2020
Banco Popular de Puerto Rico
				Consumer		Other				Total Banco
		Commercial		and Retail		Financial				Popular de
(In thousands)		Banking		Banking		Services		Eliminations		Puerto Rico
Net interest income	$	159,725	$	223,634	$	3,805	$	-	$	387,164
Provision for credit losses		8,870		50,919		-		-		59,789
Non-interest income		25,255		47,266		23,525		(243)		95,803
Amortization of intangibles		50		902		653		-		1,605
Depreciation expense		5,077		6,836		161		-		12,074
Other operating expenses		73,451		189,631		20,705		(254)		283,533
Income tax expense (benefit)		24,324		(8,235)		2,016		-		18,105
Net income	$	73,208	$	30,847	$	3,795	$	11	$	107,861
Segment assets	$	44,866,934	$	27,443,801	$	2,524,764	$	(22,868,087)	$	51,967,412

For the six months ended June 30, 2020
Banco Popular de Puerto Rico
				Consumer		Other				Total Banco
		Commercial		and Retail		Financial				Popular de
(In thousands)		Banking		Banking		Services		Eliminations		Puerto Rico
Net interest income	$	321,259	$	466,690	$	8,841	$	-	$	796,790
Provision for credit losses		19,183		154,188		-		-		173,371
Non-interest income		49,967		111,250		47,265		(537)		207,945
Amortization of intangibles		98		2,212		1,577		-		3,887
Depreciation expense		10,227		13,814		320		-		24,361
Other operating expenses		148,326		391,673		44,474		(563)		583,910
Income tax expense (benefit)		49,940		(21,187)		4,453		-		33,206
Net income	$	143,452	$	37,240	$	5,282	$	26	$	186,000
Segment assets	$	44,866,934	$	27,443,801	$	2,524,764	$	(22,868,087)	$	51,967,412

	2019
	For the quarter ended June 30, 2019
	Banco Popular de Puerto Rico
					Consumer		Other				Total Banco
			Commercial		and Retail		Financial				Popular de
(In thousands)			Banking		Banking		Services		Eliminations		Puerto Rico
Net interest income		$	152,943	$	257,301	$	1,327	$	(22)	$	411,549
Provision for credit losses			2,855		25,966		-		-		28,821
Non-interest income			25,696		68,806		29,654		(768)		123,388
Amortization of intangibles			48		1,074		1,058		-		2,180
Depreciation expense			4,897		7,191		155		-		12,243
Other operating expenses			74,021		207,925		16,263		(781)		297,428
Income tax expense			27,819		5,486		3,446		-		36,751
Net income		$	68,999	$	78,465	$	10,059	$	(9)	$	157,514
Segment assets		$	32,240,745	$	23,582,849	$	381,020	$	(15,506,321)	$	40,698,293

	For the six months ended June 30, 2019
	Banco Popular de Puerto Rico
					Consumer		Other				Total Banco
			Commercial		and Retail		Financial				Popular de
(In thousands)			Banking		Banking		Services		Eliminations		Puerto Rico
Net interest income		$	304,403	$	511,969	$	2,645	$	(111)	$	818,906
Provision for credit losses			863		59,307		-		-		60,170
Non-interest income			49,285		144,210		52,188		(1,525)		244,158
Amortization of intangibles			97		2,146		2,059		-		4,302
Depreciation expense			9,551		14,318		313		-		24,182
Other operating expenses			146,950		400,595		32,090		(1,509)		578,126
Income tax expense			59,013		17,229		5,885		-		82,127
Net income		$	137,214	$	162,584	$	14,486	$	(127)	$	314,157
Segment assets		$	32,240,745	$	23,582,849	$	381,020	$	(15,506,321)	$	40,698,293

Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area

Geographic Information
			Quarter ended				Six months ended
(In thousands)			June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Revenues:[1]
Puerto Rico		$	451,744	$	501,640	$	941,380	$	1,001,778
United States			92,422		93,964		184,101		183,820
Other			18,770		19,038		37,193		36,437
Total consolidated revenues		$	562,936	$	614,642	$	1,162,674	$	1,222,035
[1]	Total revenues include net interest income, service charges on deposit accounts, other service fees, mortgage banking activities, net gain (loss), including impairment on equity securities, net profit on trading account debt securities, net gain on sale of loans, including valuation adjustment on loans helt-for-sale, adjustments (expense) to indemnity reserves on loans sold, and other operating income.

Selected Balance Sheet Information:
(In thousands)			June 30, 2020		December 31, 2019
Puerto Rico
	Total assets	$	50,760,153	$	40,544,255
	Loans		20,262,910		18,989,286
	Deposits		44,095,385		34,664,243
United States
	Total assets	$	11,202,062	$	10,693,536
	Loans		8,205,839		7,819,187
	Deposits		8,168,697		7,664,792
Other
	Total assets	$	883,137	$	877,533
	Loans		670,529		657,603
	Deposits[1]		1,580,218		1,429,571
[1]	Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.