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v3.22.2.2

Debt securities held-to-maturity (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Investments [Abstract] |
Debt Securities, Held-to-maturity |
|  | At September 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 | $ | 348,053 | $ | - | $ | 348,053 | $ | - | $ | 3,262 | $ | 344,791 | 3.00 | %
| After 1 to 5 years |  | 1,533,494 |  | - |  | 1,533,494 |  | - |  | 48,605 |  | 1,484,889 | 2.75 |
Total U.S. Treasury securities |  | 1,881,547 |  | - |  | 1,881,547 |  | - |  | 51,867 |  | 1,829,680 | 2.80 |
Obligations of Puerto Rico, States and political subdivisions |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Within 1 year |  | 4,530 |  | 11 |  | 4,519 |  | 7 |  | - |  | 4,526 | 6.10 |
| After 1 to 5 years |  | 19,105 |  | 215 |  | 18,890 |  | 149 |  | 81 |  | 18,958 | 4.24 |
| After 5 to 10 years |  | 1,025 |  | 33 |  | 992 |  | 33 |  | - |  | 1,025 | 5.80 |
| After 10 years |  | 41,519 |  | 6,951 |  | 34,568 |  | 4,947 |  | 2,130 |  | 37,385 | 1.41 |
Total obligations of Puerto Rico, States and political subdivisions |  | 66,179 |  | 7,210 |  | 58,969 |  | 5,136 |  | 2,211 |  | 61,894 | 2.62 |
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 | $ | 1,953,710 | $ | 7,210 | $ | 1,946,500 | $ | 5,136 | $ | 54,078 | $ | 1,897,558 | 2.80 | %
|  | 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 September 30, 2022 | At December 31, 2021
(In thousands) | Securities issued by Puerto Rico municipalities
Watch | $ | 13,735 | $ | 16,345
Pass |  | 10,925 |  | 13,800
Total | $ | 24,660 | $ | 30,145
Debt securities held to maturity allowance for credit loss |
|  | For the quarters ended September 30,
|  |  | 2022 |  | 2021
(In thousands) | Obligations of Puerto Rico, States and political subdivisions
Allowance for credit losses: |  |  |  |
Beginning balance |  | $ | 7,495 | $ | 10,214
Provision for credit losses (benefit) |  |  | (285) |  | (992)
Securities charged-off |  |  | - |  | -
Recoveries |  |  | - |  | -
Ending balance | $ | 7,210 | $ | 9,222
|  | For the nine months ended September 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) |  |  | (886) |  | (1,039)
Securities charged-off |  |  | - |  | -
Recoveries |  |  | - |  | -
Ending balance | $ | 7,210 | $ | 9,222

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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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