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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Information about the Reportable Segments |
The following table presents information about the reportable segments:
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
For the quarter ended September 30, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 31,746 |  | $ | 46,052 |  | $ | 34,644 |  | $ | 15,911 |  | $ | 21,227 |  | $ | 7,912 |  | $ | 157,492
Net (charge) credit for transfer of funds |  | (12,153) |  |  | 20,947 |  |  | (14,933) |  |  | 6,446 |  |  | (307) |  |  | - |  |  | -
Interest expense |  | - |  |  | (7,164) |  |  | - |  |  | (11,075) |  |  | (5,840) |  |  | (892) |  |  | (24,971)
Net interest income |  | 19,593 |  |  | 59,835 |  |  | 19,711 |  |  | 11,282 |  |  | 15,080 |  |  | 7,020 |  |  | 132,521
(Provision) release for loan and lease losses |  | 635 |  |  | 2,485 |  |  | (10,684) |  |  | - |  |  | (5,130) |  |  | 1,170 |  |  | (11,524)
Non-interest income (loss) |  | 4,552 |  |  | 12,323 |  |  | (685) |  |  | 151 |  |  | 624 |  |  | 1,558 |  |  | 18,523
Direct non-interest expenses |  | (12,001) |  |  | (28,210) |  |  | (7,911) |  |  | (878) |  |  | (8,279) |  |  | (7,194) |  |  | (64,473)
Segment income | $ | 12,779 |  | $ | 46,433 |  | $ | 431 |  | $ | 10,555 |  | $ | 2,295 |  | $ | 2,554 |  | $ | 75,047
Average earnings assets | $ | 2,248,691 |  | $ | 1,645,170 |  | $ | 2,486,910 |  | $ | 2,637,825 |  | $ | 1,752,007 |  | $ | 527,468 |  | $ | 11,298,071
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
For the quarter ended September 30, 2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 32,317 |  | $ | 43,769 |  | $ | 31,083 |  | $ | 13,374 |  | $ | 18,446 |  | $ | 9,006 |  | $ | 147,995
Net (charge) credit for transfer of funds |  | (11,268) |  |  | 9,351 |  |  | (8,748) |  |  | 11,198 |  |  | (533) |  |  | - |  |  | -
Interest expense |  | - |  |  | (6,520) |  |  | - |  |  | (12,924) |  |  | (4,932) |  |  | (787) |  |  | (25,163)
Net interest income |  | 21,049 |  |  | 46,600 |  |  | 22,335 |  |  | 11,648 |  |  | 12,981 |  |  | 8,219 |  |  | 122,832
Provision for loan and lease losses |  | (20,495) |  |  | (33,067) |  |  | (13,621) |  |  | - |  |  | (789) |  |  | (7,041) |  |  | (75,013)
Non-interest income |  | 2,908 |  |  | 11,242 |  |  | 1,014 |  |  | 1,459 |  |  | 697 |  |  | 1,325 |  |  | 18,645
Direct non-interest expenses |  | (8,174) |  |  | (27,193) |  |  | (8,102) |  |  | (1,014) |  |  | (7,605) |  |  | (7,254) |  |  | (59,342)
Segment (loss) income | $ | (4,712) |  | $ | (2,418) |  | $ | 1,626 |  | $ | 12,093 |  | $ | 5,284 |  | $ | (4,751) |  | $ | 7,122
Average earnings assets | $ | 2,434,963 |  | $ | 1,758,653 |  | $ | 2,477,266 |  | $ | 2,228,990 |  | $ | 1,581,726 |  | $ | 602,366 |  | $ | 11,083,964
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
Nine-Month Period Ended September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 95,927 |  | $ | 132,652 |  | $ | 102,255 |  | $ | 45,593 |  | $ | 61,634 |  | $ | 24,482 |  | $ | 462,543
Net (charge) credit for transfer of funds |  | (35,027) |  |  | 54,233 |  |  | (43,181) |  |  | 25,125 |  |  | (1,150) |  |  | - |  |  | -
Interest expense |  | - |  |  | (20,863) |  |  | - |  |  | (34,475) |  |  | (16,959) |  |  | (2,561) |  |  | (74,858)
Net interest income |  | 60,900 |  |  | 166,022 |  |  | 59,074 |  |  | 36,243 |  |  | 43,525 |  |  | 21,921 |  |  | 387,685
Provision for loan and lease losses |  | (4,004) |  |  | (16,011) |  |  | (19,744) |  |  | - |  |  | (8,186) |  |  | (3,659) |  |  | (51,604)
Non-interest income |  | 13,302 |  |  | 35,504 |  |  | 2,785 |  |  | 2,600 |  |  | 2,492 |  |  | 5,096 |  |  | 61,779
Direct non-interest expenses |  | (30,192) |  |  | (84,173) |  |  | (22,710) |  |  | (2,777) |  |  | (24,768) |  |  | (22,224) |  |  | (186,844)
Segment income | $ | 40,006 |  | $ | 101,342 |  | $ | 19,405 |  | $ | 36,066 |  | $ | 13,063 |  | $ | 1,134 |  | $ | 211,016
Average earnings assets | $ | 2,269,960 |  | $ | 1,601,812 |  | $ | 2,546,090 |  | $ | 2,597,967 |  | $ | 1,734,970 |  | $ | 546,610 |  | $ | 11,297,409
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
Nine-Month Period Ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 99,361 |  | $ | 130,055 |  | $ | 90,858 |  | $ | 41,788 |  | $ | 50,910 |  | $ | 27,625 |  | $ | 440,597
Net (charge) credit for transfer of funds |  | (34,466) |  |  | 20,799 |  |  | (27,071) |  |  | 41,858 |  |  | (1,120) |  |  | - |  |  | -
Interest expense |  | - |  |  | (18,603) |  |  | - |  |  | (36,842) |  |  | (13,499) |  |  | (2,368) |  |  | (71,312)
Net interest income |  | 64,895 |  |  | 132,251 |  |  | 63,787 |  |  | 46,804 |  |  | 36,291 |  |  | 25,257 |  |  | 369,285
Provision for loan and lease losses |  | (40,598) |  |  | (47,976) |  |  | (20,906) |  |  | - |  |  | (885) |  |  | (8,186) |  |  | (118,551)
Non-interest income |  | 11,258 |  |  | 37,224 |  |  | 2,972 |  |  | (10,273) |  |  | 1,776 |  |  | 4,480 |  |  | 47,437
Direct non-interest expenses |  | (27,675) |  |  | (82,677) |  |  | (27,240) |  |  | (3,190) |  |  | (23,579) |  |  | (20,922) |  |  | (185,283)
Segment income | $ | 7,880 |  | $ | 38,822 |  | $ | 18,613 |  | $ | 33,341 |  | $ | 13,603 |  | $ | 629 |  | $ | 112,888
Average earnings assets | $ | 2,469,037 |  | $ | 1,771,376 |  | $ | 2,500,180 |  | $ | 2,176,164 |  | $ | 1,492,727 |  | $ | 609,765 |  | $ | 11,019,249
Reconciliation of the Reportable Segment Financial Information |
The following table presents a reconciliation of the reportable segment financial information to the consolidated totals:
|  |  | Quarter Ended |  | Nine-Month Period Ended
|  |  | September 30, |  | September 30,
|  |  | 2018 |  | 2017 |  | 2018 |  | 2017
Net income : |  |  |  |  |  |  |  |  |  |  |  |
Total income for segments and other |  | $ | 75,047 |  | $ | 7,122 |  | $ | 211,016 |  | $ | 112,888
Other operating expenses (1) |  |  | (26,392) |  |  | (26,272) |  |  | (80,264) |  |  | (77,282)
Income (loss) before income taxes |  |  | 48,655 |  |  | (19,150) |  |  | 130,752 |  |  | 35,606
Income tax (expense) benefit |  |  | (12,332) |  |  | 8,398 |  |  | (30,249) |  |  | 7,181
Total consolidated net income (loss) |  | $ | 36,323 |  | $ | (10,752) |  | $ | 100,503 |  | $ | 42,787
Average assets: |  |  |  |  |  |  |  |  |  |  |  |
Total average earning assets for segments |  | $ | 11,298,071 |  | $ | 11,083,964 |  | $ | 11,297,409 |  | $ | 11,019,249
Average non-earning assets |  |  | 929,362 |  |  | 900,334 |  |  | 945,671 |  |  | 896,071
Total consolidated average assets |  | $ | 12,227,433 |  | $ | 11,984,298 |  | $ | 12,243,080 |  | $ | 11,915,320
(1) | Expenses pertaining to corporate administrative functions that support the operating segment, but are not specifically attributable to or managed by any segment are not included in the reported financial results of the operating segments. The unallocated corporate expenses include certain general and administrative expenses and related depreciation and amortization expenses.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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