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Segment reporting (Tables) | 3 Months Ended
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Mar. 31, 2021
Table Text Block |
Results of Operations and Total Assets |
2021
For the quarter ended March 31, 2021
|  |  |  | Banco Popular |  |  |  | Intersegment
(In thousands) |  |  |  | de Puerto Rico |  | Popular U.S. |  | Eliminations
Net interest income |  |  | $ | 410,323 | $ | 79,169 | $ | 2
Provision (reversal) for credit losses |  |  |  | (45,361) |  | (36,720) |  | -
Non-interest income |  |  |  | 135,208 |  | 5,666 |  | (138)
Amortization of intangibles |  |  |  | 861 |  | 166 |  | -
Depreciation expense |  |  |  | 12,143 |  | 2,328 |  | -
Other operating expenses |  |  |  | 306,920 |  | 53,194 |  | (136)
Income tax expense |  |  |  | 58,813 |  | 18,035 |  | -
Net income |  |  | $ | 212,155 | $ | 47,832 | $ | -
Segment assets |  |  | $ | 55,990,801 | $ | 10,557,751 | $ | (41,613)
For the quarter ended March 31, 2021
|  | Reportable |  |  |  |  |  |
(In thousands) |  | Segments |  | Corporate |  | Eliminations |  | Total Popular, Inc.
Net interest income (expense) | $ | 489,494 | $ | (10,382) | $ | - | $ | 479,112
Provision (reversal) for credit losses |  | (82,081) |  | (145) |  | - |  | (82,226)
Non-interest income |  | 140,736 |  | 13,150 |  | (233) |  | 153,653
Amortization of intangibles |  | 1,027 |  | 24 |  | - |  | 1,051
Depreciation expense |  | 14,471 |  | 267 |  | - |  | 14,738
Other operating expenses |  | 359,978 |  | 670 |  | (909) |  | 359,739
Income tax expense (benefit) |  | 76,848 |  | (333) |  | 316 |  | 76,831
Net income | $ | 259,987 | $ | 2,285 | $ | 360 | $ | 262,632
Segment assets | $ | 66,506,939 | $ | 5,193,058 | $ | (4,829,729) | $ | 66,870,268
2020
For the quarter ended March 31, 2020
|  |  |  | Banco Popular |  |  |  | Intersegment
(In thousands) |  |  |  | de Puerto Rico |  | Popular U.S. |  | Eliminations
Net interest income |  |  | $ | 409,626 | $ | 72,689 | $ | 3
Provision for credit losses |  |  |  | 113,582 |  | 75,991 |  | -
Non-interest income |  |  |  | 112,142 |  | 5,232 |  | (140)
Amortization of intangibles |  |  |  | 2,282 |  | 167 |  | -
Depreciation expense |  |  |  | 12,287 |  | 1,953 |  | -
Other operating expenses |  |  |  | 300,377 |  | 55,194 |  | (137)
Income tax expense (benefit) |  |  |  | 15,101 |  | (11,951) |  | -
Net income (loss) |  |  | $ | 78,139 | $ | (43,433) | $ | -
Segment assets |  |  | $ | 42,392,356 | $ | 10,107,045 | $ | (23,284)
For the quarter ended March 31, 2020
|  | Reportable |  |  |  |  |  |
(In thousands) |  | Segments |  | Corporate |  | Eliminations |  | Total Popular, Inc.
Net interest income (expense) | $ | 482,318 | $ | (9,223) | $ | - | $ | 473,095
Provision for credit losses |  | 189,573 |  | 158 |  | - |  | 189,731
Non-interest income |  | 117,234 |  | 9,461 |  | (52) |  | 126,643
Amortization of intangibles |  | 2,449 |  | 24 |  | - |  | 2,473
Depreciation expense |  | 14,240 |  | 246 |  | - |  | 14,486
Other operating expenses |  | 355,434 |  | 1,037 |  | (822) |  | 355,649
Income tax expense (benefit) |  | 3,150 |  | (322) |  | 269 |  | 3,097
Net income (loss) | $ | 34,706 | $ | (905) | $ | 501 | $ | 34,302
Segment assets | $ | 52,476,117 | $ | 5,241,196 | $ | (4,913,674) | $ | 52,803,639
2021
For the quarter ended March 31, 2021
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 | $ | 179,511 | $ | 229,386 | $ | 1,426 | $ | - | $ | 410,323
Provision (reversal) for credit losses |  | (27,606) |  | (17,755) |  | - |  | - |  | (45,361)
Non-interest income |  | 25,741 |  | 86,197 |  | 23,658 |  | (388) |  | 135,208
Amortization of intangibles |  | 54 |  | 694 |  | 113 |  | - |  | 861
Depreciation expense |  | 5,289 |  | 6,685 |  | 169 |  | - |  | 12,143
Other operating expenses |  | 86,828 |  | 199,316 |  | 21,268 |  | (492) |  | 306,920
Income tax expense |  | 42,108 |  | 15,582 |  | 1,123 |  | - |  | 58,813
Net income | $ | 98,579 | $ | 111,061 | $ | 2,411 | $ | 104 | $ | 212,155
Segment assets | $ | 51,622,574 | $ | 28,932,452 | $ | 2,386,006 | $ | (26,950,231) | $ | 55,990,801
| 2020
| For the quarter ended March 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 | $ | 161,534 | $ | 243,056 | $ | 5,036 | $ | - | $ | 409,626
Provision for credit losses |  | 10,313 |  | 103,269 |  | - |  | - |  | 113,582
Non-interest income |  | 24,712 |  | 63,984 |  | 23,740 |  | (294) |  | 112,142
Amortization of intangibles |  | 48 |  | 1,310 |  | 924 |  | - |  | 2,282
Depreciation expense |  | 5,150 |  | 6,978 |  | 159 |  | - |  | 12,287
Other operating expenses |  | 74,875 |  | 202,042 |  | 23,769 |  | (309) |  | 300,377
Income tax expense (benefit) |  | 25,616 |  | (12,952) |  | 2,437 |  | - |  | 15,101
Net income | $ | 70,244 | $ | 6,393 | $ | 1,487 | $ | 15 | $ | 78,139
Segment assets | $ | 33,212,687 | $ | 24,388,065 | $ | 3,080,386 | $ | (18,288,782) | $ | 42,392,356
Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area |
Geographic Information
|  |  | Quarter ended
(In thousands) |  | March 31, 2021 |  | March 31, 2020
Revenues:[1] |  |  |  |
Puerto Rico | $ | 518,709 | $ | 489,636
United States |  | 96,012 |  | 91,679
Other |  | 18,044 |  | 18,423
Total consolidated revenues | $ | 632,765 | $ | 599,738
[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 (loss) profit on trading account debt securities, net gain on sale of loans, including valuation adjustments on loans held-for-sale, indemnity reserves on loans sold and other operating income.
Selected Balance Sheet Information:
(In thousands) |  | March 31, 2021 |  | December 31, 2020
Puerto Rico |  |  |  |
| Total assets | $ | 54,832,769 | $ | 54,143,954
| Loans |  | 20,226,682 |  | 20,413,112
| Deposits |  | 49,133,585 |  | 47,586,880
United States |  |  |  |
| Total assets | $ | 11,128,729 | $ | 10,878,030
| Loans |  | 8,315,116 |  | 8,396,983
| Deposits |  | 7,987,426 |  | 7,672,549
Other |  |  |  |
| Total assets | $ | 908,770 | $ | 904,016
| Loans |  | 674,044 |  | 674,556
| Deposits[1] |  | 1,621,790 |  | 1,606,911
[1] | Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.

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