Commitments and contingencies (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure

Financial Instruments with Off-Balance Sheet Credit Risk, Whose Contract Amounts Represent Potential Credit Risk

Financial instruments with off-balance sheet credit risk, whose contract amounts represent potential credit risk as of the end of the

periods presented were as follows:

(In thousands)

March 31, 2024

December 31, 2023

Commitments to extend credit:

Credit card lines

$

6,130,148

$

6,108,939

Commercial lines of credit

3,661,556

3,626,269

Construction lines of credit

1,212,596

1,287,679

Other consumer unused credit commitments 

257,059

256,610

Commercial letters of credit

1,234

1,404

Standby letters of credit

115,808

80,889

Commitments to originate or fund mortgage loans

29,524

32,968

Direct exposure to the Puerto Rico government by maturity

The following table details the loans and investments representing the Corporation’s direct exposure to the Puerto Rico government

according to their maturities as of March 31, 2024:

(In thousands)

Investment

Portfolio

Loans

Total Outstanding

Total Exposure

Central Government

After 1 to 5 years

$

3

$

-

$

3

$

3

After 5 to 10 years

1

-

1

1

After 10 years

42

-

42

42

Total Central Government

46

-

46

46

Municipalities

Within 1 year

3,055

13,218

16,273

41,273

After 1 to 5 years

11,620

141,519

153,139

153,139

After 5 to 10 years

845

145,965

146,810

146,810

After 10 years

-

46,823

46,823

46,823

Total Municipalities

15,520

347,525

363,045

388,045

Total Direct Government Exposure

$

15,566

$

347,525

$

363,091

$

388,091