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Segment reporting (Tables) | 6 Months Ended
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Jun. 30, 2022
Table Text Block |
Results of Operations and Total Assets |
2022
For the quarter ended June 30, 2022
|  |  |  | Banco Popular |  |  |  | Intersegment
(In thousands) |  |  |  | de Puerto Rico |  | Popular U.S. |  | Eliminations
Net interest income |  |  | $ | 447,794 | $ | 93,431 | $ | 1
Provision for credit losses (benefit) |  |  |  | 8,818 |  | 588 |  | -
Non-interest income |  |  |  | 144,377 |  | 4,919 |  | (136)
Amortization of intangibles |  |  |  | 485 |  | 310 |  | -
Depreciation expense |  |  |  | 11,675 |  | 1,755 |  | -
Other operating expenses |  |  |  | 337,979 |  | 55,911 |  | (136)
Income tax expense |  |  |  | 53,588 |  | 11,697 |  | -
Net income |  |  | $ | 179,626 | $ | 28,089 | $ | 1
Segment assets |  |  | $ | 60,435,535 | $ | 10,820,953 | $ | (172,039)
For the quarter ended June 30, 2022
|  | Reportable |  |  |  |  |  |
(In thousands) |  | Segments |  | Corporate |  | Eliminations |  | Total Popular, Inc.
Net interest income (expense) | $ | 541,226 | $ | (7,364) | $ | - | $ | 533,862
Provision for credit losses (benefit) |  | 9,406 |  | (44) |  | - |  | 9,362
Non-interest income |  | 149,160 |  | 11,567 |  | (3,316) |  | 157,411
Amortization of intangibles |  | 795 |  | - |  | - |  | 795
Depreciation expense |  | 13,430 |  | 294 |  | - |  | 13,724
Other operating expenses |  | 393,754 |  | (547) |  | (1,448) |  | 391,759
Income tax expense (benefit) |  | 65,285 |  | (335) |  | (738) |  | 64,212
Net income | $ | 207,716 | $ | 4,835 | $ | (1,130) | $ | 211,421
Segment assets | $ | 71,084,449 | $ | 5,456,518 | $ | (5,039,036) | $ | 71,501,931
For the six months ended June 30, 2022
|  |  |  | Banco Popular |  |  |  | Intersegment
(In thousands) |  |  |  | de Puerto Rico |  | Popular U.S. |  | Eliminations
Net interest income |  |  | $ | 862,963 | $ | 179,951 | $ | 2
Provision for credit losses (benefit) |  |  |  | (4,872) |  | (1,431) |  | -
Non-interest income |  |  |  | 280,239 |  | 10,873 |  | (273)
Amortization of intangibles |  |  |  | 969 |  | 717 |  | -
Depreciation expense |  |  |  | 23,192 |  | 3,579 |  | -
Other operating expenses |  |  |  | 672,857 |  | 109,550 |  | (272)
Income tax expense |  |  |  | 92,904 |  | 23,289 |  | -
Net income |  |  | $ | 358,152 | $ | 55,120 | $ | 1
Segment assets |  |  | $ | 60,435,535 | $ | 10,820,953 | $ | (172,039)
For the six months ended June 30, 2022
|  | Reportable |  |  |  |  |  | Total
(In thousands) |  | Segments |  | Corporate |  | Eliminations |  | Popular, Inc.
Net interest income (expense) | $ | 1,042,916 | $ | (14,742) | $ | - | $ | 1,028,174
Provision for credit losses (benefit) |  | (6,303) |  | 165 |  | - |  | (6,138)
Non-interest income |  | 290,839 |  | 25,832 |  | (4,568) |  | 312,103
Amortization of intangibles |  | 1,686 |  | - |  | - |  | 1,686
Depreciation expense |  | 26,771 |  | 583 |  | - |  | 27,354
Other operating expenses |  | 782,135 |  | (103) |  | (2,455) |  | 779,577
Income tax expense (benefit) |  | 116,193 |  | (667) |  | (835) |  | 114,691
Net income | $ | 413,273 | $ | 11,112 | $ | (1,278) | $ | 423,107
Segment assets | $ | 71,084,449 | $ | 5,456,518 | $ | (5,039,036) | $ | 71,501,931
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
Schedule Of Revenues And Selected Balance Sheet Information By Geographic Area |
Geographic Information |  |  |  |
|  |  | Quarter ended |  | Six months ended
(In thousands) |  | June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021
Revenues:[1] |  |  |  |  |  |  |  |
Puerto Rico | $ | 560,635 | $ | 529,143 | $ | 1,088,308 | $ | 1,047,852
United States |  | 111,369 |  | 95,276 |  | 214,543 |  | 191,288
Other |  | 19,269 |  | 17,923 |  | 37,426 |  | 35,967
Total consolidated revenues | $ | 691,273 | $ | 642,342 | $ | 1,340,277 | $ | 1,275,107
[1] | Total revenues include net interest income, service charges on deposit accounts, other service fees, mortgage banking activities, net (loss) gain, including impairment on equity securities, net gain (loss) on trading account debt securities, net loss 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, 2022 |  | December 31, 2021
Puerto Rico |  |  |  |
| Total assets | $ | 58,506,196 | $ | 63,221,282
| Loans |  | 20,177,693 |  | 19,770,118
| Deposits |  | 55,140,193 |  | 57,211,608
United States |  |  |  |
| Total assets | $ | 11,651,798 | $ | 10,986,055
| Loans |  | 9,652,668 |  | 8,903,493
| Deposits |  | 8,131,590 |  | 7,777,232
Other |  |  |  |
| Total assets | $ | 1,343,937 | $ | 890,562
| Loans |  | 569,121 |  | 626,115
| Deposits[1] |  | 2,055,881 |  | 2,016,248
[1] | Represents deposits from BPPR operations located in the U.S. and British Virgin Islands.

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