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Restrictions on cash and due from banks and certain securities
9 Months Ended
Sep. 30, 2025
Restricted cash and investment [Abstract]  
Restricted On Cash And Due From Banks And Certain Securities
Note 4 - Restrictions on cash and due
 
from banks and certain securities
BPPR is
 
required by
 
regulatory agencies
 
to maintain
 
average reserve
 
balances with
 
the Federal
 
Reserve Bank
 
of New
 
York
 
(the
“Fed”) or other banks. Required average reserve balances in BPPR amounted to $
2.6
 
billion at September 30, 2025 (December 31,
2024 -
 
$
2.6
 
billion). Cash
 
and due
 
from banks,
 
as well
 
as other
 
highly liquid
 
securities, are
 
used to
 
cover these
 
required average
reserve balances.
 
At
 
September
 
30,
 
2025,
 
the
 
Corporation
 
held
 
$
63
 
million
 
in
 
restricted
 
assets
 
in
 
the
 
form
 
of
 
funds
 
deposited
 
in
 
money
 
market
accounts, debt
 
securities available for
 
sale and
 
equity securities (December
 
31, 2024
 
- $
61
 
million).
 
The restricted
 
assets held
 
in
debt securities available for
 
sale and equity securities
 
consist primarily of assets
 
held for the Corporation’s
 
non-qualified retirement
plans and fund deposits guaranteeing possible liens
 
or encumbrances over the title of insured properties.