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v3.19.2

SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2019
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 June 30, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 30,545 |  | $ | 52,801 |  | $ | 38,110 |  | $ | 15,633 |  | $ | 24,964 |  | $ | 7,457 |  | $ | 169,510
Net (charge) credit for transfer of funds |  | (13,234) |  |  | 18,524 |  |  | (15,571) |  |  | 11,742 |  |  | (1,461) |  |  | - |  |  | -
Interest expense |  | - |  |  | (9,109) |  |  | - |  |  | (9,513) |  |  | (7,361) |  |  | (981) |  |  | (26,964)
Net interest income |  | 17,311 |  |  | 62,216 |  |  | 22,539 |  |  | 17,862 |  |  | 16,142 |  |  | 6,476 |  |  | 142,546
(Provision) releases for loan and lease losses |  | (695) |  |  | (8,383) |  |  | (1,474) |  |  | - |  |  | (1,938) |  |  | (44) |  |  | (12,534)
Non-interest income |  | 4,249 |  |  | 12,526 |  |  | 2,297 |  |  | 72 |  |  | 769 |  |  | 2,310 |  |  | 22,223
Direct non-interest expenses |  | (9,561) |  |  | (28,847) |  |  | (9,212) |  |  | (568) |  |  | (8,783) |  |  | (7,245) |  |  | (64,216)
Segment income | $ | 11,304 |  | $ | 37,512 |  | $ | 14,150 |  | $ | 17,366 |  | $ | 6,190 |  | $ | 1,497 |  | $ | 88,019
Average earnings assets | $ | 2,184,350 |  | $ | 1,907,785 |  | $ | 2,549,429 |  | $ | 2,426,182 |  | $ | 1,940,305 |  | $ | 471,159 |  | $ | 11,479,210
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
For the quarter ended June 30, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 31,860 |  | $ | 44,050 |  | $ | 35,274 |  | $ | 15,428 |  | $ | 20,880 |  | $ | 8,141 |  | $ | 155,633
Net (charge) credit for transfer of funds |  | (11,758) |  |  | 18,064 |  |  | (14,831) |  |  | 8,705 |  |  | (180) |  |  | - |  |  | -
Interest expense |  | - |  |  | (6,976) |  |  | - |  |  | (11,690) |  |  | (5,647) |  |  | (849) |  |  | (25,162)
Net interest income |  | 20,102 |  |  | 55,138 |  |  | 20,443 |  |  | 12,443 |  |  | 15,053 |  |  | 7,292 |  |  | 130,471
(Provision) release for loan and lease losses |  | (4,258) |  |  | (12,703) |  |  | (2,260) |  |  | - |  |  | (1,597) |  |  | 1,282 |  |  | (19,536)
Non-interest income |  | 4,666 |  |  | 11,251 |  |  | 2,211 |  |  | 71 |  |  | 460 |  |  | 1,813 |  |  | 20,472
Direct non-interest expenses |  | (10,471) |  |  | (29,062) |  |  | (8,085) |  |  | (951) |  |  | (8,533) |  |  | (7,408) |  |  | (64,510)
Segment income | $ | 10,039 |  | $ | 24,624 |  | $ | 12,309 |  | $ | 11,563 |  | $ | 5,383 |  | $ | 2,979 |  | $ | 66,897
Average earnings assets | $ | 2,269,640 |  | $ | 1,584,114 |  | $ | 2,551,130 |  | $ | 2,692,677 |  | $ | 1,742,522 |  | $ | 541,624 |  | $ | 11,381,707
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
Six-Month Period Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 61,402 |  | $ | 102,776 |  | $ | 75,497 |  | $ | 31,882 |  | $ | 49,121 |  | $ | 15,304 |  | $ | 335,982
Net (charge) credit for transfer of funds |  | (26,342) |  |  | 38,186 |  |  | (32,025) |  |  | 22,992 |  |  | (2,811) |  |  | - |  |  | -
Interest expense |  | - |  |  | (17,212) |  |  | - |  |  | (20,217) |  |  | (13,959) |  |  | (1,867) |  |  | (53,255)
Net interest income |  | 35,060 |  |  | 123,750 |  |  | 43,472 |  |  | 34,657 |  |  | 32,351 |  |  | 13,437 |  |  | 282,727
Provision for loan and lease losses |  | (7,107) |  |  | (17,795) |  |  | 6,576 |  |  | - |  |  | (6,302) |  |  | 274 |  |  | (24,354)
Non-interest income |  | 7,855 |  |  | 26,533 |  |  | 4,815 |  |  | 146 |  |  | 1,302 |  |  | 4,115 |  |  | 44,766
Direct non-interest expenses |  | (18,042) |  |  | (58,251) |  |  | (18,201) |  |  | (1,291) |  |  | (17,145) |  |  | (14,985) |  |  | (127,915)
Segment income | $ | 17,766 |  | $ | 74,237 |  | $ | 36,662 |  | $ | 33,512 |  | $ | 10,206 |  | $ | 2,841 |  | $ | 175,224
Average earnings assets | $ | 2,203,670 |  | $ | 1,866,243 |  | $ | 2,521,438 |  | $ | 2,404,052 |  | $ | 1,921,642 |  | $ | 472,030 |  | $ | 11,389,075
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
Six-Month Period Ended June 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 64,181 |  | $ | 86,600 |  | $ | 67,611 |  | $ | 29,682 |  | $ | 40,407 |  | $ | 16,570 |  | $ | 305,051
Net (charge) credit for transfer of funds |  | (22,874) |  |  | 33,286 |  |  | (28,248) |  |  | 18,679 |  |  | (843) |  |  | - |  |  | -
Interest expense |  | - |  |  | (13,699) |  |  | - |  |  | (23,400) |  |  | (11,119) |  |  | (1,669) |  |  | (49,887)
Net interest income |  | 41,307 |  |  | 106,187 |  |  | 39,363 |  |  | 24,961 |  |  | 28,445 |  |  | 14,901 |  |  | 255,164
Provision for loan and lease losses |  | (4,639) |  |  | (18,496) |  |  | (9,060) |  |  | - |  |  | (3,056) |  |  | (4,829) |  |  | (40,080)
Non-interest income |  | 8,750 |  |  | 23,181 |  |  | 3,470 |  |  | 2,449 |  |  | 1,868 |  |  | 3,538 |  |  | 43,256
Direct non-interest expenses |  | (18,191) |  |  | (55,963) |  |  | (14,799) |  |  | (1,899) |  |  | (16,489) |  |  | (15,030) |  |  | (122,371)
Segment income (loss) | $ | 27,227 |  | $ | 54,909 |  | $ | 18,974 |  | $ | 25,511 |  | $ | 10,768 |  | $ | (1,420) |  | $ | 135,969
Average earnings assets | $ | 2,280,770 |  | $ | 1,579,773 |  | $ | 2,578,498 |  | $ | 2,585,641 |  | $ | 1,726,310 |  | $ | 556,340 |  | $ | 11,307,332
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 |  | Six-Month Period Ended
|  |  | June 30, |  | June 30,
|  |  | 2019 |  | 2018 |  | 2019 |  | 2018
Net income : |  |  |  |  |  |  |  |  |  |  |  |
Total income for segments and other |  | $ | 88,019 |  | $ | 66,897 |  | $ | 175,224 |  | $ | 135,969
Other operating expenses (1) |  |  | (28,721) |  |  | (25,706) |  |  | (54,994) |  |  | (53,872)
Income before income taxes |  |  | 59,298 |  |  | 41,191 |  |  | 120,230 |  |  | 82,097
Income tax expense |  |  | 18,011 |  |  | 10,159 |  |  | 35,629 |  |  | 17,917
Total consolidated net income |  | $ | 41,287 |  | $ | 31,032 |  | $ | 84,601 |  | $ | 64,180
Average assets: |  |  |  |  |  |  |  |  |  |  |  |
Total average earning assets for segments |  | $ | 11,479,210 |  | $ | 11,381,707 |  | $ | 11,389,075 |  | $ | 11,307,332
Average non-earning assets |  |  | 969,286 |  |  | 963,752 |  |  | 977,577 |  |  | 943,828
Total consolidated average assets |  | $ | 12,448,496 |  | $ | 12,345,459 |  | $ | 12,366,652 |  | $ | 12,251,160
(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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