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Segment reporting (Tables) | 12 Months Ended
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Dec. 31, 2020
Table Text Block |
Results of Operations and Total Assets |
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, 2018
|  |  |  | Banco Popular |  |  |  | Intersegment
(In thousands) |  |  |  | de Puerto Rico |  | Popular U.S. |  | Eliminations
Net interest income |  |  | $ | 1,482,178 | $ | 304,576 | $ | (2)
Provision for credit losses |  |  |  | 198,442 |  | 29,881 |  | -
Non-interest income |  |  |  | 592,938 |  | 19,988 |  | (560)
Amortization of intangibles |  |  |  | 8,620 |  | 665 |  | -
Depreciation expense |  |  |  | 43,504 |  | 9,053 |  | -
Other operating expenses |  |  |  | 1,073,012 |  | 182,154 |  | (546)
Income tax expense |  |  |  | 121,195 |  | 25,294 |  | -
Net income |  |  | $ | 630,343 | $ | 77,517 | $ | (16)
Segment assets |  |  | $ | 38,037,696 | $ | 9,381,636 | $ | (114,923)
December 31, 2018
|  | Reportable |  |  |  |  |  | Total
(In thousands) |  | Segments |  | Corporate |  | Eliminations |  | Popular, Inc.
Net interest income (expense) | $ | 1,786,752 | $ | (51,875) | $ | - | $ | 1,734,877
Provision (reversal) for credit losses |  | 228,323 |  | (251) |  | - |  | 228,072
Non-interest income |  | 612,366 |  | 42,914 |  | (2,786) |  | 652,494
Amortization of intangibles |  | 9,285 |  | 41 |  | - |  | 9,326
Depreciation expense |  | 52,557 |  | 743 |  | - |  | 53,300
Loss on early extinguishment of debt |  | - |  | 12,522 |  | - |  | 12,522
Other operating expenses |  | 1,254,620 |  | 94,640 |  | (2,846) |  | 1,346,414
Income tax expense (benefit) |  | 146,489 |  | (26,947) |  | 37 |  | 119,579
Net income (loss) | $ | 707,844 | $ | (89,709) | $ | 23 | $ | 618,158
Segment assets | $ | 47,304,409 | $ | 5,099,491 | $ | (4,799,323) | $ | 47,604,577
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 |  |  |  | Total Banco
|  | Commercial |  | and Retail |  | Financial |  |  |  | Popular de
(In thousands) |  | Banking |  | Banking |  | Services |  | Eliminations |  | Puerto Rico
Net interest income | $ | 619,926 | $ | 1,009,196 | $ | 4,828 | $ | - | $ | 1,633,950
Provision (reversal) for credit losses |  | (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
December 31, 2018
Banco Popular de Puerto Rico
|  |  |  |  | Consumer |  | Other |  | Eliminations |  | Total Banco
|  |  | Commercial |  | and Retail |  | Financial |  | and Other |  | Popular de
(In thousands) |  | Banking |  | Banking |  | Services |  | Adjustments [1] |  | Puerto Rico
Net interest income | $ | 584,293 | $ | 892,735 | $ | 5,201 | $ | (51) | $ | 1,482,178
Provision for credit losses |  | 105,604 |  | 92,838 |  | - |  | - |  | 198,442
Non-interest income |  | 84,762 |  | 311,775 |  | 95,199 |  | 101,202 |  | 592,938
Amortization of intangibles |  | 208 |  | 4,275 |  | 4,137 |  | - |  | 8,620
Depreciation expense |  | 17,668 |  | 25,222 |  | 614 |  | - |  | 43,504
Other operating expenses |  | 276,158 |  | 718,990 |  | 71,344 |  | 6,520 |  | 1,073,012
Income tax expense |  | 76,255 |  | 100,925 |  | 7,903 |  | (63,888) |  | 121,195
Net income | $ | 193,162 | $ | 262,260 | $ | 16,402 | $ | 158,519 | $ | 630,343
Segment assets | $ | 27,712,852 | $ | 22,712,950 | $ | 376,992 | $ | (12,765,098) | $ | 38,037,696
[1] | Includes the impact of the Termination Agreement with the FDIC and the Tax Closing Agreement entered into in connection with the FDIC transaction. These transactions resulted in a gain of $102.8 million reported in the non-interest income line, other operating expenses of $8.1 million and a net tax benefit of $63.9 million. Refer to Note 34 to the Consolidated Financial Statements for additional information.
Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area |
(In thousands) |  | 2020 |  | 2019 |  | 2018 |
Revenues:[1] |  |  |  |  |  |  |
| Puerto Rico | $ | 1,921,207 | $ | 2,016,089 | $ | 1,953,671 |
| United States |  | 376,529 |  | 371,368 |  | 357,680 |
| Other |  | 71,189 |  | 74,120 |  | 76,020 |
Total consolidated revenues | $ | 2,368,925 | $ | 2,461,577 | $ | 2,387,371 |
[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 (loss), including impairment on equity securities, net profit (loss) on trading account debt securities, net gain on sale of loans, including valuation adjustments on loans held-for-sale, adjustments (expense) to indemnity reserves on loans sold, FDIC loss-share income and other operating income.
Selected Balance Sheet Information
(In thousands) |  | 2020 |  | 2019 |  | 2018
Puerto Rico |  |  |  |  |  |
| Total assets | $ | 54,143,954 | $ | 40,544,255 | $ | 36,863,930
| Loans |  | 20,413,112 |  | 18,989,286 |  | 18,837,742
| Deposits |  | 47,586,880 |  | 34,664,243 |  | 31,237,529
United States |  |  |  |  |  |
| Total assets | $ | 10,878,030 | $ | 10,693,536 | $ | 9,847,944
| Loans |  | 8,396,983 |  | 7,819,187 |  | 7,034,075
| Deposits |  | 7,672,549 |  | 7,664,792 |  | 6,878,599
Other |  |  |  |  |  |
| Total assets | $ | 904,016 | $ | 877,533 | $ | 892,703
| Loans |  | 674,556 |  | 657,603 |  | 687,494
| Deposits [1] |  | 1,606,911 |  | 1,429,571 |  | 1,593,911
[1] | Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.

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