XML 87 R66.htm IDEA: XBRL DOCUMENT
v3.25.2

Fair value of financial instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Fair Value Disclosures |
Carrying amount and estimated fair value of financial instruments with corresponding level in the fair value hierarchy | June 30, 2025 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Assets: Cash and due from banks $ 400,631 $ 400,631 $ - $ - $ - $ 400,631 Money market investments 6,340,786 6,330,415 10,371 - - 6,340,786 Trading account debt securities, excluding derivatives [1] 29,643 5,813 23,624 206 - 29,643 Debt securities available-for-sale [1] 20,490,212 7,908,859 12,580,171 1,182 - 20,490,212 Debt securities held-to-maturity: U.S. Treasury securities $ 7,479,657 $ - $ 7,499,064 $ - $ - $ 7,499,064 Obligations of Puerto Rico, States and political subdivisions 48,598 - 6,820 42,361 - 49,181 Collateralized mortgage obligation-federal agency 1,510 - 1,312 - - 1,312 Securities in wholly owned statutory business trusts 5,960 - 5,960 - - 5,960 Total debt securities held-to-maturity $ 7,535,725 $ - $ 7,513,156 $ 42,361 $ - $ 7,555,517 Equity securities: FHLB stock $ 66,152 $ - $ 66,152 $ - $ - $ 66,152 FRB stock 101,252 - 101,252 - - 101,252 Other investments 54,987 - 47,009 8,047 447 55,503 Total equity securities $ 222,391 $ - $ 214,413 $ 8,047 $ 447 $ 222,907 Loans held-for-sale $ 2,898 $ - $ 2,898 $ - $ - $ 2,898 Loans held-in-portfolio 37,415,693 - - 36,611,781 - 36,611,781 Mortgage servicing rights 103,077 - - 103,077 - 103,077 Derivatives 24,792 - 24,792 - - 24,792 June 30, 2025 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Liabilities: Deposits: Demand deposits $ 57,618,705 $ - $ 57,618,705 $ - $ - $ 57,618,705 Time deposits 9,598,786 - 9,378,576 - - 9,378,576 Total deposits $ 67,217,491 $ - $ 66,997,281 $ - $ - $ 66,997,281 Assets sold under agreements to repurchase $ 56,043 $ - $ 56,049 $ - $ - $ 56,049 Other short-term borrowings [2] 550,000 - 550,000 - - 550,000 Notes payable: FHLB advances $ 214,200 $ - $ 211,087 $ - $ - $ 211,087 Unsecured senior debt securities 395,865 - 416,044 - - 416,044 Junior subordinated deferrable interest debentures (related to trust preferred securities) 198,386 - 187,515 - - 187,515 Total notes payable $ 808,451 $ - $ 814,646 $ - $ - $ 814,646 Derivatives $ 23,349 $ - $ 23,349 $ - $ - $ 23,349 [1] Refer to Note 23 to the Consolidated Financial Statements for the fair value by class of financial asset and its hierarchy level. [2] Refer to Note 15 to the Consolidated Financial Statements for the composition of other short-term borrowings. December 31, 2024 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Assets: Cash and due from banks $ 419,638 $ 419,638 $ - $ - $ - $ 419,638 Money market investments 6,380,948 6,371,180 9,768 - - 6,380,948 Trading account debt securities, excluding derivatives [1] 32,783 2,814 29,752 217 - 32,783 Debt securities available-for-sale [1] 18,245,903 7,512,171 10,730,998 2,734 - 18,245,903 Debt securities held-to-maturity: U.S. Treasury securities $ 7,693,418 $ - $ 7,623,824 $ - $ - $ 7,623,824 Obligations of Puerto Rico, States and political subdivisions 51,865 - 6,866 44,711 - 51,577 Collateralized mortgage obligation-federal agency 1,518 - 1,304 - - 1,304 Securities in wholly owned statutory business trusts 5,959 - 5,959 - - 5,959 Total debt securities held-to-maturity $ 7,752,760 $ - $ 7,637,953 $ 44,711 $ - $ 7,682,664 Equity securities: FHLB stock $ 55,786 $ - $ 55,786 $ - $ - $ 55,786 FRB stock 100,304 - 100,304 - - 100,304 Other investments 52,076 - 45,664 6,528 381 52,573 Total equity securities $ 208,166 $ - $ 201,754 $ 6,528 $ 381 $ 208,663 Loans held-for-sale $ 5,423 $ - $ 5,423 $ - $ - $ 5,423 Loans held-in-portfolio 36,361,628 - - 35,652,539 - 35,652,539 Mortgage servicing rights 108,103 - - 108,103 - 108,103 Derivatives 26,023 - 26,023 - - 26,023 December 31, 2024 Carrying Measured (In thousands) amount Level 1 Level 2 Level 3 at NAV Fair value Financial Liabilities: Deposits: Demand deposits $ 55,871,463 $ - $ 55,871,463 $ - $ - $ 55,871,463 Time deposits 9,012,882 - 8,795,803 - - 8,795,803 Total deposits $ 64,884,345 $ - $ 64,667,266 $ - $ - $ 64,667,266 Assets sold under agreements to repurchase $ 54,833 $ - $ 54,845 $ - $ - $ 54,845 Other short-term borrowings [2] 225,000 - 225,000 - - 225,000 Notes payable: FHLB advances $ 302,722 $ - $ 295,023 $ - $ - $ 295,023 Unsecured senior debt securities 395,198 - 415,148 - - 415,148 Junior subordinated deferrable interest debentures (related to trust preferred securities) 198,373 - 189,758 - - 189,758 Total notes payable $ 896,293 $ - $ 899,929 $ - $ - $ 899,929 Derivatives $ 22,832 $ - $ 22,832 $ - $ - $ 22,832 [1] Refer to Note 23 to the Consolidated Financial Statements for the fair value by class of financial asset and its hierarchy level. [2] Refer to Note 15 to the Consolidated Financial Statements for the composition of other short-term borrowings.

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration