REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table summarizes the Corporation’s revenue, which includes net interest income on financial instruments and non-interest income, disaggregated by type of service and business segment for the quarters and six-month periods ended June 30, 2022 and 2021:

(In thousands)		Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
Quarter Ended June 30, 2022:
Net interest income (1)		$	26,335	$	102,397	$	31,379	$	11,466	$	18,688	$	5,921	$	196,186
Service charges and fees on deposit accounts			-		5,495		3,069		-		157		745		9,466
Insurance commissions (2)			-		2,724		-		-		20		202		2,946
Merchant-related income			-		1,711		381		-		17		327		2,436
Credit and debit card fees			-		7,391		21		-		3		449		7,864
Other service charges and fees			59		2,066		876		-		485		157		3,643
Not in scope of ASC Topic 606 (1)			4,108		396		101		(51)		(4)		36		4,586
	Total non-interest income		4,167		19,783		4,448		(51)		678		1,916		30,941
Total Revenue		$	30,502	$	122,180	$	35,827	$	11,415	$	19,366	$	7,837	$	227,127
(In thousands)		Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
Quarter Ended June 30, 2021:
Net interest income (1)		$	26,331	$	64,751	$	51,498	$	19,039	$	16,406	$	6,758	$	184,783
Service charges and fees on deposit accounts			-		4,966		2,987		-		135		700		8,788
Insurance commissions (2)			-		1,987		-		-		28		200		2,215
Merchant-related income			-		1,910		257		-		12		283		2,462
Credit and debit card fees			-		6,621		21		-		11		404		7,057
Other service charges and fees			177		846		693		-		431		147		2,294
Not in scope of ASC Topic 606 (1)			5,960		396		181		85		451		(5)		7,068
	Total non-interest income		6,137		16,726		4,139		85		1,068		1,729		29,884
Total Revenue		$	32,468	$	81,477	$	55,637	$	19,124	$	17,474	$	8,487	$	214,667

(In thousands)		Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
Six-Month Period Ended June 30, 2022:
Net interest income (1)		$	52,114	$	191,943	$	71,794	$	18,875	$	35,170	$	11,914	$	381,810
Service charges and fees on deposit accounts			-		11,034		6,045		-		295		1,455		18,829
Insurance commissions (2)			-		7,691		-		-		49		481		8,221
Merchant-related income			-		3,533		754		-		22		716		5,025
Credit and debit card fees			-		14,062		37		-		(4)		859		14,954
Other service charges and fees			202		3,176		1,989		-		984		314		6,665
Not in scope of ASC Topic 606 (1)			9,217		750		177		(163)		76		48		10,105
	Total non-interest income		9,419		40,246		9,002		(163)		1,422		3,873		63,799
Total Revenue		$	61,533	$	232,189	$	80,796	$	18,712	$	36,592	$	15,787	$	445,609
(In thousands)		Mortgage Banking		Consumer (Retail) Banking		Commercial and Corporate		Treasury and Investments		United States Operations		Virgin Islands Operations		Total
Six-Month Period Ended June 30, 2021:
Net interest income (1)		$	51,571	$	123,234	$	100,479	$	40,622	$	31,429	$	13,713	$	361,048
Service charges and fees on deposit accounts			-		9,442		5,958		-		284		1,408		17,092
Insurance commissions (2)			-		6,954		-		-		57		445		7,456
Merchant-related income			-		2,832		513		-		25		487		3,857
Credit and debit card fees			-		12,266		40		-		14		774		13,094
Other service charges and fees			350		1,711		1,212		-		889		288		4,450
Not in scope of ASC Topic 606 (1)			12,903		764		313		141		774		(4)		14,891
Total non-interest income			13,253		33,969		8,036		141		2,043		3,398		60,840
Total Revenue		$	64,824	$	157,203	$	108,515	$	40,763	$	33,472	$	17,111	$	421,888
(1)	Most of the Corporation’s revenue is not within the scope of ASC Topic 606. The guidance explicitly excludes net interest income from financial assets and liabilities, as well as other non-interest income from loans, leases, investment securities and derivative financial instruments.
(2)	Contingent commission income is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur or payments are received. For the quarter and six-month period ended June 30, 2022, the Corporation recognized revenue at the time that payments were confirmed and constraints were released of $265 thousand and $3.2 million, respectively, compared to $16 thousand and $3.3 million for the quarter and six-month period ended June 30, 2021.

	Quarter Ended				Six-Month Period Ended
	June 30,				June 30,
(In thousands)	2022		2021		2022		2021
Beginning Balance	$	1,154	$	2,070	$	1,443	$	2,151
Less:
Revenue recognized		(105)		(81)		(394)		(162)
Ending balance	$	1,049	$	1,989	$	1,049	$	1,989