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Debt securities held-to-maturity (Tables) | 12 Months Ended
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Dec. 31, 2022
Investments [Abstract] |
Debt Securities, Held-to-maturity | At December 31, 2022 Allowance Carrying Value Gross Gross Weighted Amortized Book [1] for Credit Net of unrealized unrealized Fair average (In thousands) cost Value Losses Allowance gains losses value yield U.S. Treasury securities Within 1 year $ 499,034 $ 499,034 $ - $ 499,034 $ - $ 6,203 $ 492,831 2.83 % After 1 to 5 years 6,147,568 5,640,767 - 5,640,767 - 59,806 5,580,961 1.49 After 5 to 10 years 2,638,238 2,313,666 - 2,313,666 - 14,857 2,298,809 1.41 Total U.S. Treasury securities 9,284,840 8,453,467 - 8,453,467 - 80,866 8,372,601 1.54 Obligations of Puerto Rico, States and political subdivisions Within 1 year 4,530 4,530 8 4,522 5 - 4,527 6.08 After 1 to 5 years 19,105 19,105 234 18,871 150 82 18,939 4.24 After 5 to 10 years 1,025 1,025 34 991 34 - 1,025 5.80 After 10 years 41,261 41,261 6,635 34,626 4,729 2,229 37,126 1.40 Total obligations of Puerto Rico, States and political subdivisions 65,921 65,921 6,911 59,010 4,918 2,311 61,617 2.61 Collateralized mortgage obligations - federal agencies After 1 to 5 years 19 19 - 19 - - 19 6.44 Total collateralized mortgage obligations - federal agencies 19 19 - 19 - - 19 6.44 Securities in wholly owned statutory business trusts After 10 years 5,959 5,959 - 5,959 - - 5,959 6.33 Total securities in wholly owned statutory business trusts 5,959 5,959 - 5,959 - - 5,959 6.33 Total debt securities held-to-maturity [2] $ 9,356,739 $ 8,525,366 $ 6,911 $ 8,518,455 $ 4,918 $ 83,177 $ 8,440,196 1.55 % [1] Book value includes $ 831 million of net unrealized loss which remains in Accumulated other comprehensive income (AOCI) related to certain securities transferred from available-for-sale securities portfolio to the held-to-maturity securities portfolio as discussed in Note 6. [2] Includes $ 6.9 million pledged to secure public and trust deposits that the secured parties are not permitted to sell or repledge the collateral. 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 %
Schedule Of Aggregate Amortized Cost And Fair Value Of HTMs By Contractual Maturity | (In thousands) Amortized cost Book Value Fair value Within 1 year $ 503,564 $ 503,564 $ 497,358 After 1 to 5 years 6,166,692 5,659,891 5,599,919 After 5 to 10 years 2,639,263 2,314,691 2,299,834 After 10 years 47,220 47,220 43,085 Total debt securities held-to-maturity $ 9,356,739 $ 8,525,366 $ 8,440,196
Debt securities held to maturity credit quality indicator | At December 31, 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 year ended December 31, 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) (1,185) (2,165) Securities charged-off - - Recoveries - - Ending balance $ 6,911 $ 8,096

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