Segment reporting (Tables)

3 Months Ended

Mar. 31, 2023

Table Text Block

Results of Operations and Total Assets

2023

For the quarter ended March 31, 2023

Banco Popular 

Intersegment 

(In thousands)

de Puerto Rico

Popular U.S.

Eliminations

Net interest income

$

449,820

$

90,086

$

1

Provision for credit losses

45,708

2,065

-

Non-interest income 

147,471

6,384

(136)

Amortization of intangibles

484

311

-

Depreciation expense

11,669

1,814

-

Other operating expenses

363,715

63,317

(136)

Income tax expense

42,832

3,976

-

Net income

$

132,883

$

24,987

$

1

Segment assets

$

55,770,442

$

12,147,556

$

(541,534)

For the quarter ended March 31, 2023

Reportable 

(In thousands)

Segments

Corporate

Eliminations

Total Popular, Inc.

Net interest income (expense)

$

539,907

$

(8,251)

$

-

$

531,656

Provision for credit losses (benefit)

47,773

(136)

-

47,637

Non-interest income

153,719

9,714

(1,472)

161,961

Amortization of intangibles

795

-

-

795

Depreciation expense

13,483

359

-

13,842

Other operating expenses

426,896

230

(1,076)

426,050

Income tax expense (benefit)

46,808

(321)

(173)

46,314

Net income

$

157,871

$

1,331

$

(223)

$

158,979

Segment assets

$

67,376,464

$

5,803,751

$

(5,504,456)

$

67,675,759

2022

For the quarter ended March 31, 2022

Banco Popular 

Intersegment 

(In thousands)

de Puerto Rico

 Popular U.S.

Eliminations

Net interest income

$

415,169

$

86,520

$

1

Provision for credit losses (benefit)

(13,690)

(2,019)

-

Non-interest income 

135,862

5,954

(137)

Amortization of intangibles

484

407

-

Depreciation expense

11,517

1,824

-

Other operating expenses

334,878

53,639

(136)

Income tax expense

39,316

11,592

-

Net income

$

178,526

$

27,031

$

-

Segment assets

$

58,708,519

$

10,579,410

$

(167,754)

For the quarter ended March 31, 2022

Reportable 

(In thousands)

Segments

Corporate

Eliminations

Total Popular, Inc.

Net interest income (expense)

$

501,690

$

(7,378)

$

-

$

494,312

Provision for credit losses (benefit)

(15,709)

209

-

(15,500)

Non-interest income

141,679

14,265

(1,252)

154,692

Amortization of intangibles

891

-

-

891

Depreciation expense

13,341

289

-

13,630

Other operating expenses

388,381

444

(1,007)

387,818

Income tax expense (benefit)

50,908

(332)

(97)

50,479

Net income

$

205,557

$

6,277

$

(148)

$

211,686

Segment assets

$

69,120,175

$

5,490,318

$

(5,085,411)

$

69,525,082

Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area

Geographic Information 

Quarter ended

(In thousands)

March 31, 2023

March 31, 2022

Revenues:

[1]

 Puerto Rico 

$

547,903

$

527,673

 United States

125,045

103,174

 Other

20,669

18,157

Total consolidated revenues 

$

693,617

$

649,004

[1]

Total revenues include net interest income, service charges on deposit accounts, other service fees, mortgage banking activities, net gain

(loss), including impairment on equity securities, net gain (loss) on trading account debt securities, adjustments to indemnity reserves on loans

sold and other operating income.

Selected Balance Sheet Information:

(In thousands)

March 31, 2023

December 31, 2022

Puerto Rico

Total assets

$

52,973,724

$

53,541,427

Loans

20,970,708

20,884,442

Deposits

50,589,328

51,138,790

United States

Total assets

$

13,506,272

$

12,718,775

Loans

10,825,221

10,643,964

Deposits

8,630,394

8,182,702

Other

Total assets

$

1,195,763

$

1,377,715

Loans

553,625

554,744

Deposits

[1]

1,734,166

1,905,735

[1]

Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.