Segment reporting (Tables)

12 Months Ended

Dec. 31, 2021

Table Text Block

Results of Operations and Total Assets

December 31, 2021
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	1,674,589	$	321,154	$	6
Provision for credit losses (benefit)				(136,352)		(56,897)		-
Non-interest income				565,310		24,518		(548)
Amortization of intangibles				2,813		665		-
Depreciation expense				46,539		7,415		-
Other operating expenses				1,285,959		203,892		(544)
Income tax expense				253,479		56,538		-
Net income			$	787,461	$	134,059	$	2
Segment assets			$	64,336,681	$	10,399,066	$	(31,528)
December 31, 2021
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	1,995,749	$	(38,159)	$	-	$	1,957,590
Provision for credit losses (benefit)		(193,249)		(215)		-		(193,464)
Non-interest income		589,280		56,535		(3,687)		642,128
Amortization of intangibles		3,478		5,656		-		9,134
Depreciation expense		53,954		1,150		-		55,104
Other operating expenses		1,489,307		(545)		(3,725)		1,485,037
Income tax expense (benefit)		310,017		(1,085)		86		309,018
Net income	$	921,522	$	13,415	$	(48)	$	934,889
Segment assets	$	74,704,219	$	5,458,718	$	(5,065,038)	$	75,097,899

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, 2021
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	$	734,501	$	934,611	$	5,477	$	-	$	1,674,589
Provision for credit losses (benefit)		(85,990)		(50,362)		-		-		(136,352)
Non-interest income		118,126		343,125		109,018		(4,959)		565,310
Amortization of intangibles		290		2,110		609		(196)		2,813
Depreciation expense		20,512		25,386		641		-		46,539
Other operating expenses		377,563		818,503		91,652		(1,759)		1,285,959
Income tax expense		180,874		66,616		5,989		-		253,479
Net income	$	359,378	$	415,483	$	15,604	$	(3,004)	$	787,461
Segment assets	$	64,994,081	$	31,313,708	$	2,038,402	$	(34,009,510)	$	64,336,681

	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		Eliminations		Total Banco
		Commercial		and Retail		Financial		and Other		Popular de
(In thousands)		Banking		Banking		Services		Adjustments		Puerto Rico
Net interest income	$	619,926	$	1,009,196	$	4,828	$	-	$	1,633,950
Provision for credit losses (benefit)		(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

Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area

(In thousands)			2021		2020		2019
Revenues:[1]
	Puerto Rico	$	2,136,481	$	1,921,207	$	2,016,089
	United States		390,201		376,529		371,368
	Other		73,036		71,189		74,120
Total consolidated revenues		$	2,599,718	$	2,368,925	$	2,461,577
[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, including impairment on equity securities, net (loss) profit on trading account debt securities, net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale, adjustments (expense) to indemnity reserves on loans sold, and other operating income.

Selected Balance Sheet Information
(In thousands)			2021		2020		2019
Puerto Rico
	Total assets	$	63,221,282	$	54,143,954	$	40,544,255
	Loans		19,770,118		20,413,112		18,989,286
	Deposits		57,211,608		47,586,880		34,664,243
United States
	Total assets	$	10,986,055	$	10,878,030	$	10,693,536
	Loans		8,903,493		8,396,983		7,819,187
	Deposits		7,777,232		7,672,549		7,664,792
Other
	Total assets	$	890,562	$	904,016	$	877,533
	Loans		626,115		674,556		657,603
	Deposits [1]		2,016,248		1,606,911		1,429,571
[1]	Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.