Segment reporting (Tables)

6 Months Ended

Jun. 30, 2022

Table Text Block

Results of Operations and Total Assets

2022
For the quarter ended June 30, 2022
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	447,794	$	93,431	$	1
Provision for credit losses (benefit)				8,818		588		-
Non-interest income				144,377		4,919		(136)
Amortization of intangibles				485		310		-
Depreciation expense				11,675		1,755		-
Other operating expenses				337,979		55,911		(136)
Income tax expense				53,588		11,697		-
Net income			$	179,626	$	28,089	$	1
Segment assets			$	60,435,535	$	10,820,953	$	(172,039)
For the quarter ended June 30, 2022
		Reportable
(In thousands)		Segments		Corporate		Eliminations		Total Popular, Inc.
Net interest income (expense)	$	541,226	$	(7,364)	$	-	$	533,862
Provision for credit losses (benefit)		9,406		(44)		-		9,362
Non-interest income		149,160		11,567		(3,316)		157,411
Amortization of intangibles		795		-		-		795
Depreciation expense		13,430		294		-		13,724
Other operating expenses		393,754		(547)		(1,448)		391,759
Income tax expense (benefit)		65,285		(335)		(738)		64,212
Net income	$	207,716	$	4,835	$	(1,130)	$	211,421
Segment assets	$	71,084,449	$	5,456,518	$	(5,039,036)	$	71,501,931

For the six months ended June 30, 2022
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	862,963	$	179,951	$	2
Provision for credit losses (benefit)				(4,872)		(1,431)		-
Non-interest income				280,239		10,873		(273)
Amortization of intangibles				969		717		-
Depreciation expense				23,192		3,579		-
Other operating expenses				672,857		109,550		(272)
Income tax expense				92,904		23,289		-
Net income			$	358,152	$	55,120	$	1
Segment assets			$	60,435,535	$	10,820,953	$	(172,039)
For the six months ended June 30, 2022
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	1,042,916	$	(14,742)	$	-	$	1,028,174
Provision for credit losses (benefit)		(6,303)		165		-		(6,138)
Non-interest income		290,839		25,832		(4,568)		312,103
Amortization of intangibles		1,686		-		-		1,686
Depreciation expense		26,771		583		-		27,354
Other operating expenses		782,135		(103)		(2,455)		779,577
Income tax expense (benefit)		116,193		(667)		(835)		114,691
Net income	$	413,273	$	11,112	$	(1,278)	$	423,107
Segment assets	$	71,084,449	$	5,456,518	$	(5,039,036)	$	71,501,931

2021
For the quarter ended June 30, 2021
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	419,200	$	78,743	$	1
Provision for credit losses (benefit)				(22,042)		4,856		-
Non-interest income				136,052		5,267		(137)
Amortization of intangibles				860		167		-
Depreciation expense				11,808		1,597		-
Other operating expenses				307,663		48,533		(136)
Income tax expense				63,614		10,163		-
Net income			$	193,349	$	18,694	$	-
Segment assets			$	62,104,522	$	10,197,371	$	(23,954)
For the quarter ended June 30, 2021
		Reportable
(In thousands)		Segments		Corporate		Eliminations		Total Popular, Inc.
Net interest income (expense)	$	497,944	$	(10,142)	$	-	$	487,802
Provision for credit losses (benefit)		(17,186)		171		-		(17,015)
Non-interest income		141,182		15,274		(1,916)		154,540
Amortization of intangibles		1,027		228		-		1,255
Depreciation expense		13,405		265		-		13,670
Other operating expenses		356,060		(1,852)		(948)		353,260
Income tax expense (benefit)		73,777		(313)		(371)		73,093
Net income	$	212,043	$	6,633	$	(597)	$	218,079
Segment assets	$	72,277,939	$	5,407,659	$	(5,028,305)	$	72,657,293

For the six months ended June 30, 2021
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	829,523	$	157,912	$	3
Provision for credit losses (benefit)				(67,403)		(31,864)		-
Non-interest income				271,260		10,933		(275)
Amortization of intangibles				1,721		333		-
Depreciation expense				23,951		3,925		-
Other operating expenses				614,583		101,727		(272)
Income tax expense				122,427		28,198		-
Net income			$	405,504	$	66,526	$	-
Segment assets			$	62,104,522	$	10,197,371	$	(23,954)
For the six months ended June 30, 2021
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	987,438	$	(20,524)	$	-	$	966,914
Provision for credit losses (benefit)		(99,267)		26		-		(99,241)
Non-interest income		281,918		28,424		(2,149)		308,193
Amortization of intangibles		2,054		252		-		2,306
Depreciation expense		27,876		532		-		28,408
Other operating expenses		716,038		(1,182)		(1,857)		712,999
Income tax expense (benefit)		150,625		(646)		(55)		149,924
Net income	$	472,030	$	8,918	$	(237)	$	480,711
Segment assets	$	72,277,939	$	5,407,659	$	(5,028,305)	$	72,657,293

Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area

Geographic Information
			Quarter ended				Six months ended
(In thousands)			June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Revenues:[1]
Puerto Rico		$	560,635	$	529,143	$	1,088,308	$	1,047,852
United States			111,369		95,276		214,543		191,288
Other			19,269		17,923		37,426		35,967
Total consolidated revenues		$	691,273	$	642,342	$	1,340,277	$	1,275,107
[1]	Total revenues include net interest income, service charges on deposit accounts, other service fees, mortgage banking activities, net (loss) gain, including impairment on equity securities, net gain (loss) on trading account debt securities, net loss on sale of loans, including valuation adjustment on loans held-for-sale, adjustments (expense) to indemnity reserves on loans sold, and other operating income.

Selected Balance Sheet Information:
(In thousands)			June 30, 2022		December 31, 2021
Puerto Rico
	Total assets	$	58,506,196	$	63,221,282
	Loans		20,177,693		19,770,118
	Deposits		55,140,193		57,211,608
United States
	Total assets	$	11,651,798	$	10,986,055
	Loans		9,652,668		8,903,493
	Deposits		8,131,590		7,777,232
Other
	Total assets	$	1,343,937	$	890,562
	Loans		569,121		626,115
	Deposits[1]		2,055,881		2,016,248
[1]	Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.