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Debt securities held-to-maturity (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Investments [Abstract] |
Debt Securities, Held-to-maturity |
|  | At June 30, 2022 |
|  |  |  |  | Allowance |  |  | Gross | Gross |  |  | Weighted |
|  | Amortized |  | for Credit |  | Net of | unrealized | unrealized | Fair | average |
(In thousands) | cost |  | Losses |  | Allowance | gains | losses | value | yield |
U.S. Treasury securities |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Within 1 year | $ | 98,743 | $ | - | $ | 98,743 | $ | 116 | $ | - | $ | 98,859 | 3.03 | %
| After 1 to 5 years |  | 1,490,003 |  | - |  | 1,490,003 |  | - |  | 11,276 |  | 1,478,727 | 2.64 |
Total U.S. Treasury securities |  | 1,588,746 |  | - |  | 1,588,746 |  | 116 |  | 11,276 |  | 1,577,586 | 2.67 |
Obligations of Puerto Rico, States and political subdivisions |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Within 1 year |  | 4,440 |  | 7 |  | 4,433 |  | 7 |  | 1 |  | 4,439 | 6.10 |
| After 1 to 5 years |  | 13,045 |  | 168 |  | 12,877 |  | 168 |  | - |  | 13,045 | 6.28 |
| After 5 to 10 years |  | 9,530 |  | 110 |  | 9,420 |  | 27 |  | 112 |  | 9,335 | 1.40 |
| After 10 years |  | 42,270 |  | 7,210 |  | 35,060 |  | 5,762 |  | 1,650 |  | 39,172 | 1.46 |
Total obligations of Puerto Rico, States and political subdivisions |  | 69,285 |  | 7,495 |  | 61,790 |  | 5,964 |  | 1,763 |  | 65,991 | 2.66 |
Collateralized mortgage obligations - federal agencies |  |  |  |  |  |  |  |  |  |  |  |  |  |
| After 1 to 5 years |  | 24 |  | - |  | 24 |  | - |  | - |  | 24 | 6.44 |
Total collateralized mortgage obligations - federal agencies |  | 24 |  | - |  | 24 |  | - |  | - |  | 24 | 6.44 |
Securities in wholly owned statutory business trusts |  |  |  |  |  |  |  |  |  |  |  |  |  |
| After 10 years |  | 5,960 |  | - |  | 5,960 |  | - |  | - |  | 5,960 | 6.33 |
Total securities in wholly owned statutory business trusts |  | 5,960 |  | - |  | 5,960 |  | - |  | - |  | 5,960 | 6.33 |
Total debt securities held-to-maturity | $ | 1,664,015 | $ | 7,495 | $ | 1,656,520 | $ | 6,080 | $ | 13,039 | $ | 1,649,561 | 2.68 | %
|  | At December 31, 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 | $ | 7 | $ | 4,233 | $ | 4 | $ | - | $ | 4,237 | 6.07 | %
| After 1 to 5 years |  | 14,395 |  | 148 |  | 14,247 |  | 149 |  | - |  | 14,396 | 6.23 |
| After 5 to 10 years |  | 11,280 |  | 122 |  | 11,158 |  | 104 |  | - |  | 11,262 | 2.18 |
| After 10 years |  | 43,561 |  | 7,819 |  | 35,742 |  | 11,746 |  | - |  | 47,488 | 1.50 |
Total obligations of Puerto Rico, States and political subdivisions |  | 73,476 |  | 8,096 |  | 65,380 |  | 12,003 |  | - |  | 77,383 | 2.79 |
Collateralized mortgage obligations - federal agencies |  |  |  |  |  |  |  |  |  |  |  |  |  |
| After 1 to 5 years |  | 25 |  | - |  | 25 |  | - |  | - |  | 25 | 6.44 |
Total collateralized mortgage obligations - federal agencies |  | 25 |  | - |  | 25 |  | - |  | - |  | 25 | 6.44 |
Securities in wholly owned statutory business trusts |  |  |  |  |  |  |  |  |  |  |  |  |  |
| After 10 years |  | 5,960 |  | - |  | 5,960 |  | - |  | - |  | 5,960 | 6.33 |
Total securities in wholly owned statutory business trusts |  | 5,960 |  | - |  | 5,960 |  | - |  | - |  | 5,960 | 6.33 |
Total debt securities held-to-maturity | $ | 79,461 | $ | 8,096 | $ | 71,365 | $ | 12,003 | $ | - | $ | 83,368 | 3.06 | %
Debt securities held to maturity credit quality indicator |
|  | At June 30, 2022 | At December 31, 2021
(In thousands) | Securities issued by Puerto Rico municipalities
Watch | $ | 15,075 | $ | 16,345
Pass |  | 12,170 |  | 13,800
Total | $ | 27,245 | $ | 30,145
Debt securities held to maturity allowance for credit loss |
|  | For the quarters ended June 30,
|  |  | 2022 |  | 2021
(In thousands) | Obligations of Puerto Rico, States and political subdivisions
Allowance for credit losses: |  |  |  |
Beginning balance |  | $ | 7,844 | $ | 10,096
Provision for credit losses (benefit) |  |  | (349) |  | 118
Securities charged-off |  |  | - |  | -
Recoveries |  |  | - |  | -
Ending balance | $ | 7,495 | $ | 10,214
|  | For the six months ended June 30,
|  |  | 2022 |  | 2021
(In thousands) |  | Obligations of Puerto Rico, States and political subdivisions
Allowance for credit losses: |  |  |  |
Beginning balance |  | $ | 8,096 | $ | 10,261
Provision for credit losses (benefit) |  |  | (601) |  | (47)
Securities charged-off |  |  | - |  | -
Recoveries |  |  | - |  | -
Ending balance | $ | 7,495 | $ | 10,214

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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=123581744&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=123581744&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=123581744&loc=d3e27232-111563 + Details
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