SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

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 year ended December 31, 2022:

Interest income

$

130,185

$

302,631

$

205,888

$

104,215

$

94,782

$

24,913

$

862,614

Net (charge) credit for transfer of funds

(31,265)

173,917

(96,066)

(43,838)

(2,748)

-

-

Interest expense

-

(33,924)

-

(20,777)

(11,549)

(1,071)

(67,321)

Net interest income 

98,920

442,624

109,822

39,600

80,485

23,842

795,293

Provision for credit losses - (benefit) expense

(7,643)

57,123

(20,241)

(434)

(3,073)

1,964

27,696

Non-interest income (loss)

15,950

78,457

18,189

(74)

2,860

7,710

123,092

Direct non-interest expenses

23,049

162,663

37,131

3,702

33,365

27,911

287,821

 Segment income

$

99,464

$

301,295

$

111,121

$

36,258

$

53,053

$

1,677

$

602,868

Average earnings assets

$

2,233,245

$

2,918,800

$

3,626,107

$

7,300,208

$

2,069,030

$

369,504

$

18,516,894

Mortgage

Banking

Consumer (Retail)

Banking

Commercial

and Corporate

Banking

Treasury and

Investments

United States

Operations

Virgin Islands

Operations

Total

(In thousands)

For the year ended December 31, 2021:

Interest income

$

144,203

$

271,127

$

201,684

$

67,841

$

82,194

$

27,659

$

794,708

Net (charge) credit for transfer of funds

(39,565)

38,859

(9,767)

14,687

(4,214)

-

-

Interest expense

-

(28,283)

-

(23,197)

(12,013)

(1,286)

(64,779)

Net interest income

104,638

281,703

191,917

59,331

65,967

26,373

729,929

Provision for credit losses - (benefit) expense

(16,030)

20,322

(67,544)

(136)

(975)

(1,335)

(65,698)

Non-interest income

24,278

69,774

16,032

227

3,963

6,890

121,164

Direct non-interest expenses

29,125

165,357

36,219

4,093

33,902

28,084

296,780

 Segment income

$

115,821

$

165,798

$

239,274

$

55,601

$

37,003

$

6,514

$

620,011

Average earnings assets

$

2,506,365

$

2,551,278

$

3,793,945

$

7,827,326

$

2,126,528

$

430,499

$

19,235,941

Mortgage

Banking

Consumer (Retail)

Banking

Commercial

and Corporate

Banking

Treasury and

Investments

United States

Operations

Virgin Islands

Operations

Total

(In thousands)

For the year ended December 31, 2020:

Interest income

$

128,043

$

240,725

$

155,254

$

55,003

$

84,169

$

29,788

$

692,982

Net (charge) credit for transfer of funds

(52,018)

18,771

(19,663)

59,074

(6,164)

-

-

Interest expense

-

(38,818)

-

(26,198)

(23,980)

(3,664)

(92,660)

Net interest income

76,025

220,678

135,591

87,879

54,025

26,124

600,322

Provision for credit losses - expense

22,518

54,094

74,607

2,774

12,592

4,400

170,985

Non-interest income

22,069

50,962

12,606

13,708

4,630

7,251

111,226

Direct non-interest expenses

33,054

131,133

28,631

3,449

33,782

28,815

258,864

 Segment income

$

42,522

$

86,413

$

44,959

$

95,364

$

12,281

$

160

$

281,699

Average earnings assets

$

2,241,753

$

2,202,595

$

3,039,786

$

4,232,144

$

2,026,619

$

458,608

$

14,201,505

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:

Year Ended December 31,

2022

2021

2020

(In thousands)

Net income: 

Total income for segments 

$

602,868

$

620,011

$

281,699

Other operating expenses

 (1)

155,284

192,194

165,376

Income before income taxes

447,584

427,817

116,323

Income tax expense

142,512

146,792

14,050

 Total consolidated net income

$

305,072

$

281,025

$

102,273

Average assets:

Total average earning assets for segments 

$

18,516,894

$

19,235,941

$

14,201,505

Average non-earning assets 

861,755

1,067,092

1,031,141

 Total consolidated average assets

$

19,378,649

$

20,303,033

$

15,232,646

(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.

Schedule of revenues and selected balance sheet data by geography [Table Text Block]

The following table presents revenues (interest income plus non-interest income) and selected balance sheet data by geography based on the

location in which the transaction was originated as of indicated dates:

2022

2021

2020

(In thousands)

Revenues:

 Puerto Rico

$

855,441

$

795,166

$

678,370

 United States

97,642

86,157

88,799

 Virgin Islands

32,623

34,549

37,039

 Total consolidated revenues

$

985,706

$

915,872

$

804,208

Selected Balance Sheet Information:

Total assets:

 Puerto Rico

$

16,020,987

$

18,175,910

$

16,091,112

 United States

2,213,333

2,189,440

2,117,966

 Virgin Islands

400,164

419,925

583,993

Loans:

 Puerto Rico

$

9,097,013

$

8,755,434

$

9,367,032

 United States

2,088,351

1,948,716

1,993,797

 Virgin Islands

379,767

391,663

466,749

Deposits:

 Puerto Rico

(1)

$

12,933,570

$

14,113,874

$

12,338,934

 United States

(2)

1,623,725

1,928,749

1,622,481

 Virgin Islands

1,586,172

1,742,271

1,355,968

(1)

For 2022, 2021, and 2020, includes $

1.4

 million, $

34.2

 million, and $

109.0

 million, respectively, of brokered CDs allocated to Puerto Rico operations.

(2)

For 2022, 2021, and 2020 includes $

104.4

 million, $

66.2

 million, and $

107.1

 million, respectively, of brokered CDs allocated to United States operations.