Segment reporting (Tables)

12 Months Ended

Dec. 31, 2020

Table Text Block

Results of Operations and Total Assets

December 31, 2020
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	1,593,599	$	302,517	$	11
Provision for credit losses				210,955		81,486		-
Non-interest income				445,893		24,285		(553)
Amortization of intangibles				5,634		665		-
Depreciation expense				47,890		9,558		-
Other operating expenses				1,169,816		228,406		(544)
Income tax expense				106,211		7,411		-
Net income (loss)			$	498,986	$	(724)	$	2
Segment assets			$	55,353,626	$	10,255,954	$	(33,935)
December 31, 2020
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	1,896,127	$	(39,514)	$	-	$	1,856,613
Provision for credit losses		292,441		95		-		292,536
Non-interest income		469,625		46,442		(3,755)		512,312
Amortization of intangibles		6,299		98		-		6,397
Depreciation expense		57,448		1,004		-		58,452
Other operating expenses		1,397,678		(1,212)		(3,486)		1,392,980
Income tax expense (benefit)		113,622		(1,560)		(124)		111,938
Net income	$	498,264	$	8,503	$	(145)	$	506,622
Segment assets	$	65,575,645	$	5,214,439	$	(4,864,084)	$	65,926,000

December 31, 2019
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	1,633,950	$	295,470	$	(51)
Provision for credit losses				135,495		30,028		-
Non-interest income				506,739		23,160		(561)
Amortization of intangibles				8,610		664		-
Depreciation expense				49,058		8,263		-
Other operating expenses				1,208,458		205,219		(547)
Income tax expense				129,145		19,164		-
Net income			$	609,923	$	55,292	$	(65)
Segment assets			$	41,756,864	$	10,056,316	$	(18,576)
December 31, 2019
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	1,929,369	$	(37,675)	$	-	$	1,891,694
Provision for credit losses		165,523		256		-		165,779
Non-interest income		529,338		43,901		(3,356)		569,883
Amortization of intangibles		9,274		96		-		9,370
Depreciation expense		57,321		746		-		58,067
Other operating expenses		1,413,130		55		(3,140)		1,410,045
Income tax expense (benefit)		148,309		(1,041)		(87)		147,181
Net income	$	665,150	$	6,114	$	(129)	$	671,135
Segment assets	$	51,794,604	$	5,228,276	$	(4,907,556)	$	52,115,324

December 31, 2018
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	1,482,178	$	304,576	$	(2)
Provision for credit losses				198,442		29,881		-
Non-interest income				592,938		19,988		(560)
Amortization of intangibles				8,620		665		-
Depreciation expense				43,504		9,053		-
Other operating expenses				1,073,012		182,154		(546)
Income tax expense				121,195		25,294		-
Net income			$	630,343	$	77,517	$	(16)
Segment assets			$	38,037,696	$	9,381,636	$	(114,923)
December 31, 2018
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	1,786,752	$	(51,875)	$	-	$	1,734,877
Provision (reversal) for credit losses		228,323		(251)		-		228,072
Non-interest income		612,366		42,914		(2,786)		652,494
Amortization of intangibles		9,285		41		-		9,326
Depreciation expense		52,557		743		-		53,300
Loss on early extinguishment of debt		-		12,522		-		12,522
Other operating expenses		1,254,620		94,640		(2,846)		1,346,414
Income tax expense (benefit)		146,489		(26,947)		37		119,579
Net income (loss)	$	707,844	$	(89,709)	$	23	$	618,158
Segment assets	$	47,304,409	$	5,099,491	$	(4,799,323)	$	47,604,577

December 31, 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	$	653,091	$	927,165	$	13,343	$	-	$	1,593,599
Provision for credit losses		47,905		163,050		-		-		210,955
Non-interest income		100,329		249,464		97,443		(1,343)		445,893
Amortization of intangibles		197		3,609		1,828		-		5,634
Depreciation expense		20,488		26,746		656		-		47,890
Other operating expenses		303,534		782,521		85,122		(1,361)		1,169,816
Income tax expense (benefit)		104,617		(5,934)		7,528		-		106,211
Net income	$	276,679	$	206,637	$	15,652	$	18	$	498,986
Segment assets	$	49,806,766	$	29,000,270	$	2,218,444	$	(25,671,854)	$	55,353,626

	December 31, 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		$	619,926	$	1,009,196	$	4,828	$	-	$	1,633,950
Provision (reversal) for credit losses			(46,099)		181,594		-		-		135,495
Non-interest income			99,758		303,268		106,218		(2,505)		506,739
Amortization of intangibles			195		4,294		4,121		-		8,610
Depreciation expense			20,024		28,411		623		-		49,058
Other operating expenses			309,762		835,582		65,631		(2,517)		1,208,458
Income tax expense			104,636		11,999		12,510		-		129,145
Net income		$	331,166	$	250,584	$	28,161	$	12	$	609,923
Segment assets		$	34,340,842	$	23,976,004	$	380,557	$	(16,940,539)	$	41,756,864

December 31, 2018
Banco Popular de Puerto Rico
					Consumer		Other		Eliminations		Total Banco
			Commercial		and Retail		Financial		and Other		Popular de
(In thousands)			Banking		Banking		Services		Adjustments [1]		Puerto Rico
Net interest income		$	584,293	$	892,735	$	5,201	$	(51)	$	1,482,178
Provision for credit losses			105,604		92,838		-		-		198,442
Non-interest income			84,762		311,775		95,199		101,202		592,938
Amortization of intangibles			208		4,275		4,137		-		8,620
Depreciation expense			17,668		25,222		614		-		43,504
Other operating expenses			276,158		718,990		71,344		6,520		1,073,012
Income tax expense			76,255		100,925		7,903		(63,888)		121,195
Net income		$	193,162	$	262,260	$	16,402	$	158,519	$	630,343
Segment assets		$	27,712,852	$	22,712,950	$	376,992	$	(12,765,098)	$	38,037,696
[1]	Includes the impact of the Termination Agreement with the FDIC and the Tax Closing Agreement entered into in connection with the FDIC transaction. These transactions resulted in a gain of $102.8 million reported in the non-interest income line, other operating expenses of $8.1 million and a net tax benefit of $63.9 million. Refer to Note 34 to the Consolidated Financial Statements for additional information.

Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area

(In thousands)			2020		2019		2018
Revenues:[1]
	Puerto Rico	$	1,921,207	$	2,016,089	$	1,953,671
	United States		376,529		371,368		357,680
	Other		71,189		74,120		76,020
Total consolidated revenues		$	2,368,925	$	2,461,577	$	2,387,371
[1]	Total revenues include net interest income, service charges on deposit accounts, other service fees, mortgage banking activities, net gain (loss) on sale of debt securities, net gain (loss), including impairment on equity securities, net profit (loss) on trading account debt securities, net gain on sale of loans, including valuation adjustments on loans held-for-sale, adjustments (expense) to indemnity reserves on loans sold, FDIC loss-share income and other operating income.

Selected Balance Sheet Information
(In thousands)			2020		2019		2018
Puerto Rico
	Total assets	$	54,143,954	$	40,544,255	$	36,863,930
	Loans		20,413,112		18,989,286		18,837,742
	Deposits		47,586,880		34,664,243		31,237,529
United States
	Total assets	$	10,878,030	$	10,693,536	$	9,847,944
	Loans		8,396,983		7,819,187		7,034,075
	Deposits		7,672,549		7,664,792		6,878,599
Other
	Total assets	$	904,016	$	877,533	$	892,703
	Loans		674,556		657,603		687,494
	Deposits [1]		1,606,911		1,429,571		1,593,911
[1]	Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.