XML 75 R64.htm IDEA: XBRL DOCUMENT
v3.21.2

SEGMENT INFORMATION (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Segment Reporting [Abstract] |
Information about the Reportable Segments [Table Text Block] |
The following table presents information about the reportable segments for the indicated periods:
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate Banking |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
For the Quarter Ended September 30, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 35,722 |  | $ | 68,883 |  | $ | 48,558 |  | $ | 19,342 |  | $ | 20,847 |  | $ | 6,820 |  | $ | 200,172
Net (charge) credit for transfer of funds |  | (9,187) |  |  | 13,094 |  |  | (2,200) |  |  | (909) |  |  | (798) |  |  | - |  |  | -
Interest expense |  | - |  |  | (6,634) |  |  | - |  |  | (5,677) |  |  | (2,794) |  |  | (324) |  |  | (15,429)
Net interest income |  | 26,535 |  |  | 75,343 |  |  | 46,358 |  |  | 12,756 |  |  | 17,255 |  |  | 6,496 |  |  | 184,743
Provision for credit losses - (benefit) expense |  | (10,210) |  |  | 6,532 |  |  | (8,332) |  |  | (9) |  |  | (1,158) |  |  | 1,095 |  |  | (12,082)
Non-interest income |  | 5,921 |  |  | 17,544 |  |  | 3,894 |  |  | 61 |  |  | 965 |  |  | 1,561 |  |  | 29,946
Direct non-interest expenses |  | 6,792 |  |  | 40,130 |  |  | 7,916 |  |  | 803 |  |  | 8,343 |  |  | 7,120 |  |  | 71,104
| Segment income (loss) | $ | 35,874 |  | $ | 46,225 |  | $ | 50,668 |  | $ | 12,023 |  | $ | 11,035 |  | $ | (158) |  | $ | 155,667
Average earnings assets | $ | 2,446,111 |  | $ | 2,590,938 |  | $ | 3,655,172 |  | $ | 8,751,623 |  | $ | 2,177,681 |  | $ | 425,872 |  | $ | 20,047,397
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate Banking |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
For the Quarter Ended September 30, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 32,293 |  | $ | 60,157 |  | $ | 37,571 |  | $ | 12,572 |  | $ | 20,427 |  | $ | 7,382 |  | $ | 170,402
Net (charge) credit for transfer of funds |  | (11,627) |  |  | 3,514 |  |  | (1,768) |  |  | 11,972 |  |  | (2,091) |  |  | - |  |  | -
Interest expense |  | - |  |  | (9,348) |  |  | - |  |  | (5,967) |  |  | (5,418) |  |  | (973) |  |  | (21,706)
Net interest income |  | 20,666 |  |  | 54,323 |  |  | 35,803 |  |  | 18,577 |  |  | 12,918 |  |  | 6,409 |  |  | 148,696
Provision for credit losses expense |  | 11,614 |  |  | 12,404 |  |  | 19,139 |  |  | - |  |  | 1,679 |  |  | 2,078 |  |  | 46,914
Non-interest income |  | 6,756 |  |  | 12,315 |  |  | 2,838 |  |  | 5,457 |  |  | 1,058 |  |  | 1,510 |  |  | 29,934
Direct non-interest expenses |  | 7,659 |  |  | 32,035 |  |  | 6,251 |  |  | 717 |  |  | 8,387 |  |  | 7,231 |  |  | 62,280
| Segment income (loss) | $ | 8,149 |  | $ | 22,199 |  | $ | 13,251 |  | $ | 23,317 |  | $ | 3,910 |  | $ | (1,390) |  | $ | 69,436
Average earnings assets | $ | 2,243,345 |  | $ | 2,197,601 |  | $ | 3,064,272 |  | $ | 4,725,125 |  | $ | 2,061,596 |  | $ | 466,315 |  | $ | 14,758,254
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate Banking |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
Nine-Month Period Ended September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 109,727 |  | $ | 200,853 |  | $ | 153,849 |  | $ | 48,812 |  | $ | 61,830 |  | $ | 21,202 |  | $ | 596,273
Net (charge) credit for transfer of funds |  | (31,621) |  |  | 20,050 |  |  | (7,012) |  |  | 22,216 |  |  | (3,633) |  |  | - |  |  | -
Interest expense |  | - |  |  | (22,326) |  |  | - |  |  | (17,650) |  |  | (9,513) |  |  | (993) |  |  | (50,482)
Net interest income |  | 78,106 |  |  | 198,577 |  |  | 146,837 |  |  | 53,378 |  |  | 48,684 |  |  | 20,209 |  |  | 545,791
Provision for credit losses - (benefit) expense |  | (9,966) |  |  | 11,285 |  |  | (53,263) |  |  | (136) |  |  | (535) |  |  | (874) |  |  | (53,489)
Non-interest income |  | 19,174 |  |  | 51,513 |  |  | 11,930 |  |  | 202 |  |  | 3,008 |  |  | 4,959 |  |  | 90,786
Direct non-interest expenses |  | 22,314 |  |  | 124,476 |  |  | 27,752 |  |  | 3,164 |  |  | 25,740 |  |  | 21,826 |  |  | 225,272
| Segment income | $ | 84,932 |  | $ | 114,329 |  | $ | 184,278 |  | $ | 50,552 |  | $ | 26,487 |  | $ | 4,216 |  | $ | 464,794
Average earnings assets | $ | 2,555,476 |  | $ | 2,508,777 |  | $ | 3,855,854 |  | $ | 7,535,752 |  | $ | 2,120,144 |  | $ | 438,024 |  | $ | 19,014,027
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate Banking |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
Nine-Month Period Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 89,353 |  | $ | 174,848 |  | $ | 102,225 |  | $ | 41,631 |  | $ | 63,754 |  | $ | 22,471 |  | $ | 494,282
Net (charge) credit for transfer of funds |  | (34,176) |  |  | 19,485 |  |  | (15,594) |  |  | 34,441 |  |  | (4,156) |  |  | - |  |  | -
Interest expense |  | - |  |  | (28,724) |  |  | - |  |  | (20,523) |  |  | (19,659) |  |  | (2,821) |  |  | (71,727)
Net interest income |  | 55,177 |  |  | 165,609 |  |  | 86,631 |  |  | 55,549 |  |  | 39,939 |  |  | 19,650 |  |  | 422,555
Provision for credit losses - expense |  | 29,491 |  |  | 56,254 |  |  | 51,844 |  |  | 2,765 |  |  | 15,944 |  |  | 6,996 |  |  | 163,294
Non-interest income |  | 14,843 |  |  | 36,634 |  |  | 7,673 |  |  | 13,777 |  |  | 2,534 |  |  | 5,565 |  |  | 81,026
Direct non-interest expenses |  | 22,647 |  |  | 89,659 |  |  | 19,688 |  |  | 2,133 |  |  | 25,221 |  |  | 21,970 |  |  | 181,318
| Segment income (loss) | $ | 17,882 |  | $ | 56,330 |  | $ | 22,772 |  | $ | 64,428 |  | $ | 1,308 |  | $ | (3,751) |  | $ | 158,969
Average earnings assets | $ | 2,076,419 |  | $ | 2,141,329 |  | $ | 2,684,803 |  | $ | 3,690,782 |  | $ | 2,025,482 |  | $ | 460,217 |  | $ | 13,079,032
Reconciliation of the Reportable Segment Financial Information [Table Text Block] |
The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods:
|  |  | Quarter Ended |  | Nine-Month Period Ended
|  |  | September 30, |  | September 30,
|  |  | 2021 |  | 2020 |  | 2021 |  | 2020
Net income : |  |  |  |  |  |  |  |  |  |  |
| Total income for segments | $ | 155,667 |  | $ | 69,436 |  | $ | 464,794 |  | $ | 158,969
| Other operating expenses (1) |  | 42,932 |  |  | 45,228 |  |  | 152,237 |  |  | 108,160
| Income before income taxes |  | 112,735 |  |  | 24,208 |  |  | 312,557 |  |  | 50,809
| Income tax expense (benefit) |  | 37,057 |  |  | (4,405) |  |  | 105,171 |  |  | (1,326)
|  | Total consolidated net income | $ | 75,678 |  | $ | 28,613 |  | $ | 207,386 |  | $ | 52,135
Average assets: |  |  |  |  |  |  |  |  |  |  |
| Total average earning assets for segments | $ | 20,047,397 |  | $ | 14,758,254 |  | $ | 19,014,027 |  | $ | 13,079,032
| Average non-earning assets |  | 1,024,385 |  |  | 1,047,401 |  |  | 1,105,223 |  |  | 975,744
|  | Total consolidated average assets | $ | 21,071,782 |  | $ | 15,805,655 |  | $ | 20,119,250 |  | $ | 14,054,776
(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.

X
- 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=120311839&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=120311839&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=120311839&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=120311839&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=121556970&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 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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