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Segment reporting (Tables)

6 Months Ended

Jun. 30, 2021

Table Text Block

Results of Operations and Total Assets

2021
For the quarter ended June 30, 2021
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	419,200	$	78,743	$	1
Provision for credit losses (benefit)				(22,042)		4,856		-
Non-interest income				136,052		5,267		(137)
Amortization of intangibles				860		167		-
Depreciation expense				11,808		1,597		-
Other operating expenses				307,663		48,533		(136)
Income tax expense				63,614		10,163		-
Net income			$	193,349	$	18,694	$	-
Segment assets			$	62,104,522	$	10,197,371	$	(23,954)
For the quarter ended June 30, 2021
		Reportable
(In thousands)		Segments		Corporate		Eliminations		Total Popular, Inc.
Net interest income (expense)	$	497,944	$	(10,142)	$	-	$	487,802
Provision for credit losses (benefit)		(17,186)		171		-		(17,015)
Non-interest income		141,182		15,274		(1,916)		154,540
Amortization of intangibles		1,027		228		-		1,255
Depreciation expense		13,405		265		-		13,670
Other operating expenses		356,060		(1,852)		(948)		353,260
Income tax expense (benefit)		73,777		(313)		(371)		73,093
Net income	$	212,043	$	6,633	$	(597)	$	218,079
Segment assets	$	72,277,939	$	5,407,659	$	(5,028,305)	$	72,657,293

For the six months ended June 30, 2021
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	829,523	$	157,912	$	3
Provision for credit losses (benefit)				(67,403)		(31,864)		-
Non-interest income				271,260		10,933		(275)
Amortization of intangibles				1,721		333		-
Depreciation expense				23,951		3,925		-
Other operating expenses				614,583		101,727		(272)
Income tax expense				122,427		28,198		-
Net income			$	405,504	$	66,526	$	-
Segment assets			$	62,104,522	$	10,197,371	$	(23,954)
For the six months ended June 30, 2021
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	987,438	$	(20,524)	$	-	$	966,914
Provision for credit losses (benefit)		(99,267)		26		-		(99,241)
Non-interest income		281,918		28,424		(2,149)		308,193
Amortization of intangibles		2,054		252		-		2,306
Depreciation expense		27,876		532		-		28,408
Other operating expenses		716,038		(1,182)		(1,857)		712,999
Income tax expense (benefit)		150,625		(646)		(55)		149,924
Net income	$	472,030	$	8,918	$	(237)	$	480,711
Segment assets	$	72,277,939	$	5,407,659	$	(5,028,305)	$	72,657,293

2020
For the quarter ended June 30, 2020
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	387,164	$	73,704	$	4
Provision for credit losses				59,789		2,681		-
Non-interest income				95,803		6,413		(136)
Amortization of intangibles				1,605		166		-
Depreciation expense				12,074		2,105		-
Other operating expenses				283,533		50,876		(135)
Income tax expense				18,105		7,267		-
Net income			$	107,861	$	17,022	$	3
Segment assets			$	51,967,412	$	10,594,628	$	(35,439)
For the quarter ended June 30, 2020
		Reportable
(In thousands)		Segments		Corporate		Eliminations		Total Popular, Inc.
Net interest income (expense)	$	460,872	$	(9,991)	$	-	$	450,881
Provision for credit losses (benefit)		62,470		(21)		-		62,449
Non-interest income		102,080		11,954		(1,979)		112,055
Amortization of intangibles		1,771		25		-		1,796
Depreciation expense		14,179		236		-		14,415
Other operating expenses		334,274		(1,345)		(909)		332,020
Income tax expense (benefit)		25,372		(330)		(414)		24,628
Net income	$	124,886	$	3,398	$	(656)	$	127,628
Segment assets	$	62,526,601	$	5,219,408	$	(4,900,657)	$	62,845,352

For the six months ended June 30, 2020
				Banco Popular				Intersegment
(In thousands)				de Puerto Rico		Popular U.S.		Eliminations
Net interest income			$	796,790	$	146,393	$	7
Provision for credit losses				173,371		78,672		-
Non-interest income				207,945		11,645		(276)
Amortization of intangibles				3,887		333		-
Depreciation expense				24,361		4,058		-
Other operating expenses				583,910		106,070		(272)
Income tax expense (benefit)				33,206		(4,684)		-
Net income (loss)			$	186,000	$	(26,411)	$	3
Segment assets			$	51,967,412	$	10,594,628	$	(35,439)
For the six months ended June 30, 2020
		Reportable						Total
(In thousands)		Segments		Corporate		Eliminations		Popular, Inc.
Net interest income (expense)	$	943,190	$	(19,214)	$	-	$	923,976
Provision for credit losses		252,043		137		-		252,180
Non-interest income		219,314		21,415		(2,031)		238,698
Amortization of intangibles		4,220		49		-		4,269
Depreciation expense		28,419		482		-		28,901
Other operating expenses		689,708		(308)		(1,731)		687,669
Income tax expense (benefit)		28,522		(652)		(145)		27,725
Net income	$	159,592	$	2,493	$	(155)	$	161,930
Segment assets	$	62,526,601	$	5,219,408	$	(4,900,657)	$	62,845,352

2021
For the quarter ended June 30, 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	$	180,840	$	237,155	$	1,205	$	-	$	419,200
Provision for credit losses (benefit)		(17,751)		(4,291)		-		-		(22,042)
Non-interest income		28,832		81,294		26,329		(403)		136,052
Amortization of intangibles		53		694		113		-		860
Depreciation expense		5,231		6,413		164		-		11,808
Other operating expenses		90,132		193,716		24,238		(423)		307,663
Income tax expense		44,341		18,113		1,160		-		63,614
Net income	$	87,666	$	103,804	$	1,859	$	20	$	193,349
Segment assets	$	61,313,631	$	30,633,318	$	2,313,470	$	(32,155,897)	$	62,104,522

For the six months ended June 30, 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	$	360,351	$	466,541	$	2,631	$	-	$	829,523
Provision for credit losses (benefit)		(45,357)		(22,046)		-		-		(67,403)
Non-interest income		54,573		167,491		49,987		(791)		271,260
Amortization of intangibles		107		1,388		226		-		1,721
Depreciation expense		10,520		13,098		333		-		23,951
Other operating expenses		176,960		393,032		45,506		(915)		614,583
Income tax expense		86,449		33,695		2,283		-		122,427
Net income	$	186,245	$	214,865	$	4,270	$	124	$	405,504
Segment assets	$	61,313,631	$	30,633,318	$	2,313,470	$	(32,155,897)	$	62,104,522

	2020
	For the quarter ended June 30, 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		$	159,725	$	223,634	$	3,805	$	-	$	387,164
Provision for credit losses			8,870		50,919		-		-		59,789
Non-interest income			25,255		47,266		23,525		(243)		95,803
Amortization of intangibles			50		902		653		-		1,605
Depreciation expense			5,077		6,836		161		-		12,074
Other operating expenses			73,451		189,631		20,705		(254)		283,533
Income tax expense (benefit)			24,324		(8,235)		2,016		-		18,105
Net income		$	73,208	$	30,847	$	3,795	$	11	$	107,861
Segment assets		$	44,866,934	$	27,443,801	$	2,524,764	$	(22,868,087)	$	51,967,412

	For the six months ended June 30, 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		$	321,259	$	466,690	$	8,841	$	-	$	796,790
Provision for credit losses			19,183		154,188		-		-		173,371
Non-interest income			49,967		111,250		47,265		(537)		207,945
Amortization of intangibles			98		2,212		1,577		-		3,887
Depreciation expense			10,227		13,814		320		-		24,361
Other operating expenses			148,326		391,673		44,474		(563)		583,910
Income tax expense (benefit)			49,940		(21,187)		4,453		-		33,206
Net income		$	143,452	$	37,240	$	5,282	$	26	$	186,000
Segment assets		$	44,866,934	$	27,443,801	$	2,524,764	$	(22,868,087)	$	51,967,412

Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area

Geographic Information
			Quarter ended				Six months ended
(In thousands)			June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Revenues:[1]
Puerto Rico		$	529,143	$	451,744	$	1,047,852	$	941,380
United States			95,276		92,422		191,288		184,101
Other			17,923		18,770		35,967		37,193
Total consolidated revenues		$	642,342	$	562,936	$	1,275,107	$	1,162,674
[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 (loss) gain on sale of loans, including valuation adjustment on loans held-for-sale, adjustments (expense) to indemnity reserves on loans sold, and other operating income.

Selected Balance Sheet Information:
(In thousands)			June 30, 2021		December 31, 2020
Puerto Rico
	Total assets	$	60,973,387	$	54,143,954
	Loans		20,030,055		20,413,112
	Deposits		55,220,372		47,586,880
United States
	Total assets	$	10,788,871	$	10,878,030
	Loans		8,466,962		8,396,983
	Deposits		7,651,800		7,672,549
Other
	Total assets	$	895,035	$	904,016
	Loans		650,915		674,556
	Deposits[1]		1,769,604		1,606,911
[1]	Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.

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- Definition

Tabular disclosure of revenues and selected balance sheet information from external customers by geographic areas.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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