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Segment reporting (Tables) | 12 Months Ended
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Dec. 31, 2021
Table Text Block |
Results of Operations and Total Assets |
December 31, 2021
|  |  |  | Banco Popular |  |  |  | Intersegment
(In thousands) |  |  |  | de Puerto Rico |  | Popular U.S. |  | Eliminations
Net interest income |  |  | $ | 1,674,589 | $ | 321,154 | $ | 6
Provision for credit losses (benefit) |  |  |  | (136,352) |  | (56,897) |  | -
Non-interest income |  |  |  | 565,310 |  | 24,518 |  | (548)
Amortization of intangibles |  |  |  | 2,813 |  | 665 |  | -
Depreciation expense |  |  |  | 46,539 |  | 7,415 |  | -
Other operating expenses |  |  |  | 1,285,959 |  | 203,892 |  | (544)
Income tax expense |  |  |  | 253,479 |  | 56,538 |  | -
Net income |  |  | $ | 787,461 | $ | 134,059 | $ | 2
Segment assets |  |  | $ | 64,336,681 | $ | 10,399,066 | $ | (31,528)
December 31, 2021
|  | Reportable |  |  |  |  |  | Total
(In thousands) |  | Segments |  | Corporate |  | Eliminations |  | Popular, Inc.
Net interest income (expense) | $ | 1,995,749 | $ | (38,159) | $ | - | $ | 1,957,590
Provision for credit losses (benefit) |  | (193,249) |  | (215) |  | - |  | (193,464)
Non-interest income |  | 589,280 |  | 56,535 |  | (3,687) |  | 642,128
Amortization of intangibles |  | 3,478 |  | 5,656 |  | - |  | 9,134
Depreciation expense |  | 53,954 |  | 1,150 |  | - |  | 55,104
Other operating expenses |  | 1,489,307 |  | (545) |  | (3,725) |  | 1,485,037
Income tax expense (benefit) |  | 310,017 |  | (1,085) |  | 86 |  | 309,018
Net income | $ | 921,522 | $ | 13,415 | $ | (48) | $ | 934,889
Segment assets | $ | 74,704,219 | $ | 5,458,718 | $ | (5,065,038) | $ | 75,097,899
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, 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 | $ | 734,501 | $ | 934,611 | $ | 5,477 | $ | - | $ | 1,674,589
Provision for credit losses (benefit) |  | (85,990) |  | (50,362) |  | - |  | - |  | (136,352)
Non-interest income |  | 118,126 |  | 343,125 |  | 109,018 |  | (4,959) |  | 565,310
Amortization of intangibles |  | 290 |  | 2,110 |  | 609 |  | (196) |  | 2,813
Depreciation expense |  | 20,512 |  | 25,386 |  | 641 |  | - |  | 46,539
Other operating expenses |  | 377,563 |  | 818,503 |  | 91,652 |  | (1,759) |  | 1,285,959
Income tax expense |  | 180,874 |  | 66,616 |  | 5,989 |  | - |  | 253,479
Net income | $ | 359,378 | $ | 415,483 | $ | 15,604 | $ | (3,004) | $ | 787,461
Segment assets | $ | 64,994,081 | $ | 31,313,708 | $ | 2,038,402 | $ | (34,009,510) | $ | 64,336,681
| 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 |  | Eliminations |  | Total Banco
|  |  | Commercial |  | and Retail |  | Financial |  | and Other |  | Popular de
(In thousands) |  | Banking |  | Banking |  | Services |  | Adjustments |  | Puerto Rico
Net interest income | $ | 619,926 | $ | 1,009,196 | $ | 4,828 | $ | - | $ | 1,633,950
Provision for credit losses (benefit) |  | (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
Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area |
(In thousands) |  | 2021 |  | 2020 |  | 2019 |
Revenues:[1] |  |  |  |  |  |  |
| Puerto Rico | $ | 2,136,481 | $ | 1,921,207 | $ | 2,016,089 |
| United States |  | 390,201 |  | 376,529 |  | 371,368 |
| Other |  | 73,036 |  | 71,189 |  | 74,120 |
Total consolidated revenues | $ | 2,599,718 | $ | 2,368,925 | $ | 2,461,577 |
[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, including impairment on equity securities, net (loss) profit on trading account debt securities, net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale, adjustments (expense) to indemnity reserves on loans sold, and other operating income.
Selected Balance Sheet Information
(In thousands) |  | 2021 |  | 2020 |  | 2019
Puerto Rico |  |  |  |  |  |
| Total assets | $ | 63,221,282 | $ | 54,143,954 | $ | 40,544,255
| Loans |  | 19,770,118 |  | 20,413,112 |  | 18,989,286
| Deposits |  | 57,211,608 |  | 47,586,880 |  | 34,664,243
United States |  |  |  |  |  |
| Total assets | $ | 10,986,055 | $ | 10,878,030 | $ | 10,693,536
| Loans |  | 8,903,493 |  | 8,396,983 |  | 7,819,187
| Deposits |  | 7,777,232 |  | 7,672,549 |  | 7,664,792
Other |  |  |  |  |  |
| Total assets | $ | 890,562 | $ | 904,016 | $ | 877,533
| Loans |  | 626,115 |  | 674,556 |  | 657,603
| Deposits [1] |  | 2,016,248 |  | 1,606,911 |  | 1,429,571
[1] | Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.

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