Segment reporting (Tables)

9 Months Ended

Sep. 30, 2022

Table Text Block

Results of Operations and Total Assets

2022
For the quarter ended September 30, 2022
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	488,123	$	98,874	$	1
Provision for credit losses				29,813		10,011		-
Non-interest income				262,587		15,203		(137)
Amortization of intangibles				484		311		-
Goodwill impairment charge				-		9,000		-
Depreciation expense				11,862		1,693		-
Other operating expenses				396,655		57,127		(135)
Income tax expense				48,209		10,628		-
Net income			$	263,687	$	25,307	$	(1)
Segment assets			$	59,640,784	$	11,106,409	$	(319,999)
For the quarter ended September 30, 2022
		Reportable
(In thousands)		Segments		Corporate		Eliminations		Total Popular, Inc.
Net interest income (expense)	$	586,998	$	(7,379)	$	-	$	579,619
Provision for credit losses (benefit)		39,824		(187)		-		39,637
Non-interest income		277,653		148,228		613		426,494
Amortization of intangibles		795		-		-		795
Goodwill impairment charge		9,000		-		-		9,000
Depreciation expense		13,555		298		-		13,853
Other operating expenses		453,647		(46)		(1,154)		452,447
Income tax expense		58,837		8,469		680		67,986
Net income	$	288,993	$	132,315	$	1,087	$	422,395
Segment assets	$	70,427,194	$	5,341,051	$	(5,038,570)	$	70,729,675

For the nine months ended September 30, 2022
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	1,351,086	$	278,825	$	3
Provision for credit losses				24,941		8,580		-
Non-interest income				542,826		26,076		(410)
Amortization of intangibles				1,453		1,028		-
Goodwill impairment charge				-		9,000		-
Depreciation expense				35,054		5,272		-
Other operating expenses				1,069,512		166,677		(407)
Income tax expense				141,113		33,917		-
Net income			$	621,839	$	80,427	$	-
Segment assets			$	59,640,784	$	11,106,409	$	(319,999)
For the nine months ended September 30, 2022
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	1,629,914	$	(22,121)	$	-	$	1,607,793
Provision for credit losses (benefit)		33,521		(22)		-		33,499
Non-interest income		568,492		174,060		(3,955)		738,597
Amortization of intangibles		2,481		-		-		2,481
Goodwill impairment charge		9,000		-		-		9,000
Depreciation expense		40,326		881		-		41,207
Other operating expenses		1,235,782		(149)		(3,609)		1,232,024
Income tax expense		175,030		7,802		(155)		182,677
Net income	$	702,266	$	143,427	$	(191)	$	845,502
Segment assets	$	70,427,194	$	5,341,051	$	(5,038,570)	$	70,729,675

2021
For the quarter ended September 30, 2021
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	419,166	$	80,038	$	2
Provision for credit losses (benefit)				(37,022)		(23,937)		-
Non-interest income				146,139		6,150		(136)
Amortization of intangibles				617		166		-
Depreciation expense				11,164		1,516		-
Other operating expenses				324,171		50,694		(136)
Income tax expense				65,357		18,139		-
Net income			$	201,018	$	39,610	$	2
Segment assets			$	63,476,269	$	10,338,333	$	(23,074)
For the quarter ended September 30, 2021
		Reportable
(In thousands)		Segments		Corporate		Eliminations		Total Popular, Inc.
Net interest income (expense)	$	499,206	$	(9,813)	$	-	$	489,393
Provision for credit losses (benefit)		(60,959)		(214)		-		(61,173)
Non-interest income		152,153		17,251		(146)		169,258
Amortization of intangibles		783		-		-		783
Depreciation expense		12,680		328		-		13,008
Other operating expenses		374,729		615		(967)		374,377
Income tax expense (benefit)		83,496		(279)		325		83,542
Net income	$	240,630	$	6,988	$	496	$	248,114
Segment assets	$	73,791,528	$	5,378,819	$	(4,981,184)	$	74,189,163

For the nine months ended September 30, 2021
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	1,248,689	$	237,950	$	5
Provision for credit losses (benefit)				(104,425)		(55,801)		-
Non-interest income				417,399		17,083		(411)
Amortization of intangibles				2,338		499		-
Depreciation expense				35,115		5,441		-
Other operating expenses				938,754		152,421		(408)
Income tax expense				187,784		46,337		-
Net income			$	606,522	$	106,136	$	2
Segment assets			$	63,476,269	$	10,338,333	$	(23,074)
For the nine months ended September 30, 2021
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	1,486,644	$	(30,337)	$	-	$	1,456,307
Provision for credit losses (benefit)		(160,226)		(188)		-		(160,414)
Non-interest income		434,071		45,675		(2,295)		477,451
Amortization of intangibles		2,837		252		-		3,089
Depreciation expense		40,556		860		-		41,416
Other operating expenses		1,090,767		(567)		(2,824)		1,087,376
Income tax expense (benefit)		234,121		(925)		270		233,466
Net income	$	712,660	$	15,906	$	259	$	728,825
Segment assets	$	73,791,528	$	5,378,819	$	(4,981,184)	$	74,189,163

Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area

Geographic Information
			Quarter ended				Nine months ended
(In thousands)			September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Revenues:[1]
Puerto Rico		$	852,149	$	542,178	$	1,940,457	$	1,590,030
United States			133,071		97,331		347,614		288,619
Other			20,893		19,142		58,319		55,109
Total consolidated revenues		$	1,006,113	$	658,651	$	2,346,390	$	1,933,758
[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 (loss) gain on trading account debt securities, net loss on sale of loans, including valuation adjustment on loans held-for-sale, adjustments to indemnity reserves on loans sold, and other operating income.

Selected Balance Sheet Information:
(In thousands)			September 30, 2022		December 31, 2021
Puerto Rico
	Total assets	$	57,192,527	$	63,221,282
	Loans		20,760,831		19,770,118
	Deposits		54,769,845		57,211,608
United States
	Total assets	$	12,153,357	$	10,986,055
	Loans		10,204,303		8,903,493
	Deposits		8,016,775		7,777,232
Other
	Total assets	$	1,383,791	$	890,562
	Loans		566,119		626,115
	Deposits[1]		2,032,707		2,016,248
[1]	Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.