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Debt securities held-to-maturity (Tables) | 9 Months Ended
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Sep. 30, 2021
Investments [Abstract] |
Debt Securities, Held-to-maturity |
|  | At September 30, 2021 |
|  |  |  |  | Allowance |  |  | Gross | Gross |  |  | Weighted |
|  | Amortized |  | for Credit |  | Net of | unrealized | unrealized | Fair | average |
(In thousands) | cost |  | Losses |  | Allowance | gains | losses | value | yield |
Obligations of Puerto Rico, States and political subdivisions |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Within 1 year | $ | 4,240 | $ | 46 | $ | 4,194 | $ | 47 | $ | - | $ | 4,241 | 6.09 | %
| After 1 to 5 years |  | 14,395 |  | 555 |  | 13,840 |  | 555 |  | - |  | 14,395 | 6.23 |
| After 5 to 10 years |  | 11,280 |  | 347 |  | 10,933 |  | 194 |  | - |  | 11,127 | 2.18 |
| After 10 years |  | 44,149 |  | 8,274 |  | 35,875 |  | 12,545 |  | - |  | 48,420 | 1.52 |
Total obligations of Puerto Rico, States and political subdivisions |  | 74,064 |  | 9,222 |  | 64,842 |  | 13,341 |  | - |  | 78,183 | 2.80 |
Collateralized mortgage obligations - federal agencies |  |  |  |  |  |  |  |  |  |  |  |  |  |
| After 1 to 5 years |  | 30 |  | - |  | 30 |  | 1 |  | - |  | 31 | 6.44 |
Total collateralized mortgage obligations - federal agencies |  | 30 |  | - |  | 30 |  | 1 |  | - |  | 31 | 6.44 |
Securities in wholly owned statutory business trusts |  |  |  |  |  |  |  |  |  |  |  |  |  |
| After 10 years |  | 11,561 |  | - |  | 11,561 |  | - |  | - |  | 11,561 | 6.51 |
Total securities in wholly owned statutory business trusts |  | 11,561 |  | - |  | 11,561 |  | - |  | - |  | 11,561 | 6.51 |
Total debt securities held-to-maturity | $ | 85,655 | $ | 9,222 | $ | 76,433 | $ | 13,342 | $ | - | $ | 89,775 | 3.30 | %
|  | At December 31, 2020 |
|  |  |  |  | Allowance |  |  | Gross | Gross |  |  | Weighted |
|  | Amortized |  | for Credit |  | Net of | unrealized | unrealized | Fair | average |
(In thousands) | cost |  | Losses |  | Allowance | gains | losses | value | yield |
Obligations of Puerto Rico, States and political subdivisions |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Within 1 year | $ | 3,990 | $ | 50 | $ | 3,940 | $ | 47 | $ | - | $ | 3,987 | 6.05 | %
| After 1 to 5 years |  | 16,030 |  | 710 |  | 15,320 |  | 710 |  | - |  | 16,030 | 6.16 |
| After 5 to 10 years |  | 14,845 |  | 573 |  | 14,272 |  | 295 |  | 23 |  | 14,544 | 2.77 |
| After 10 years |  | 46,164 |  | 8,928 |  | 37,236 |  | 11,501 |  | - |  | 48,737 | 1.58 |
Total obligations of Puerto Rico, States and political subdivisions |  | 81,029 |  | 10,261 |  | 70,768 |  | 12,553 |  | 23 |  | 83,298 | 2.93 |
Collateralized mortgage obligations - federal agencies |  |  |  |  |  |  |  |  |  |  |  |  |  |
| After 1 to 5 years |  | 31 |  | - |  | 31 |  | 1 |  | - |  | 32 | 6.44 |
Total collateralized mortgage obligations - federal agencies |  | 31 |  | - |  | 31 |  | 1 |  | - |  | 32 | 6.44 |
Securities in wholly owned statutory business trusts |  |  |  |  |  |  |  |  |  |  |  |  |  |
| After 10 years |  | 11,561 |  | - |  | 11,561 |  | - |  | - |  | 11,561 | 6.51 |
Total securities in wholly owned statutory business trusts |  | 11,561 |  | - |  | 11,561 |  | - |  | - |  | 11,561 | 6.51 |
Total debt securities held-to-maturity | $ | 92,621 | $ | 10,261 | $ | 82,360 | $ | 12,554 | $ | 23 | $ | 94,891 | 3.38 | %
Debt securities held to maturity credit quality indicator |
|  | At September 30, 2021 | At December 31, 2020
(In thousands) | Securities issued by Puerto Rico municipalities
Watch | $ | 16,345 | $ | 35,315
Pass |  | 13,800 |  | -
Total | $ | 30,145 | $ | 35,315
Debt securities held to maturity allowance for credit loss |
|  | For the quarters ended September 30,
|  |  | 2021 |  | 2020
(In thousands) | Obligations of Puerto Rico, States and political subdivisions
Allowance for credit losses: |  |  |  |
Beginning balance |  | $ | 10,214 | $ | 12,735
Provision for credit losses (benefit) |  |  | (992) |  | (314)
Securities charged-off |  |  | - |  | -
Recoveries |  |  | - |  | -
Ending balance | $ | 9,222 | $ | 12,421
|  | For the nine months ended September 30,
|  |  | 2021 |  | 2020
(In thousands) |  | Obligations of Puerto Rico, States and political subdivisions
Allowance for credit losses: |  |  |  |
Beginning balance |  | $ | 10,261 | $ | -
Impact of adopting CECL |  |  | - |  | 12,654
Provision for credit losses (benefit) |  |  | (1,039) |  | (233)
Securities charged-off |  |  | - |  | -
Recoveries |  |  | - |  | -
Ending balance | $ | 9,222 | $ | 12,421

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- Definition Tabular disclosure of credit quality indicator for investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447 + Details
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- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=121645371&loc=SL120269825-111563 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=121645371&loc=SL120269820-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27232-111563 + Details
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