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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 9 Months Ended
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Sep. 30, 2021
Revenue from Contract with Customer [Abstract] |
Disaggregation Of Revenue Table [TextBlock] | The following table summarizes the Corporation’s revenue, which includes net interest income on financial instruments and non-interest income, disaggregated by type of service and business segment for the quarters and nine-month periods ended September 30, 2021 and 2020:
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
Quarter Ended September 30, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income (1) | $ | 26,535 |  | $ | 75,343 |  | $ | 46,358 |  | $ | 12,756 |  | $ | 17,255 |  | $ | 6,496 |  | $ | 184,743
Service charges and fees on deposit accounts |  | - |  |  | 5,076 |  |  | 2,855 |  |  | - |  |  | 128 |  |  | 631 |  |  | 8,690
Insurance commissions |  | - |  |  | 2,183 |  |  | - |  |  | - |  |  | 25 |  |  | 109 |  |  | 2,317
Merchant-related income |  | - |  |  | 1,878 |  |  | 263 |  |  | - |  |  | 14 |  |  | 266 |  |  | 2,421
Credit and debit card fees |  | - |  |  | 6,897 |  |  | 22 |  |  | - |  |  | - |  |  | 394 |  |  | 7,313
Other service charges and fees |  | 211 |  |  | 1,018 |  |  | 715 |  |  | - |  |  | 462 |  |  | 150 |  |  | 2,556
Not in scope of ASC Topic 606 (1) |  | 5,710 |  |  | 492 |  |  | 39 |  |  | 61 |  |  | 336 |  |  | 11 |  |  | 6,649
| Total non-interest income |  | 5,921 |  |  | 17,544 |  |  | 3,894 |  |  | 61 |  |  | 965 |  |  | 1,561 |  |  | 29,946
Total Revenue | $ | 32,456 |  | $ | 92,887 |  | $ | 50,252 |  | $ | 12,817 |  | $ | 18,220 |  | $ | 8,057 |  | $ | 214,689
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
Quarter Ended September 30, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income (1) | $ | 20,666 |  | $ | 54,323 |  | $ | 35,803 |  | $ | 18,577 |  | $ | 12,918 |  | $ | 6,409 |  | $ | 148,696
Service charges and fees on deposit accounts |  | - |  |  | 3,021 |  |  | 2,044 |  |  | - |  |  | 125 |  |  | 658 |  |  | 5,848
Insurance commissions |  | - |  |  | 1,377 |  |  | - |  |  | - |  |  | 5 |  |  | 91 |  |  | 1,473
Merchant-related income |  | - |  |  | 1,941 |  |  | - |  |  | - |  |  | - |  |  | 276 |  |  | 2,217
Credit and debit card fees |  | - |  |  | 4,778 |  |  | 16 |  |  | - |  |  | (2) |  |  | 350 |  |  | 5,142
Other service charges and fees |  | 49 |  |  | 846 |  |  | 700 |  |  | - |  |  | 537 |  |  | 142 |  |  | 2,274
Not in scope of ASC Topic 606 (1) (2) |  | 6,707 |  |  | 352 |  |  | 78 |  |  | 5,457 |  |  | 393 |  |  | (7) |  |  | 12,980
| Total non-interest income |  | 6,756 |  |  | 12,315 |  |  | 2,838 |  |  | 5,457 |  |  | 1,058 |  |  | 1,510 |  |  | 29,934
Total Revenue | $ | 27,422 |  | $ | 66,638 |  | $ | 38,641 |  | $ | 24,034 |  | $ | 13,976 |  | $ | 7,919 |  | $ | 178,630
(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, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income (1) | $ | 78,106 |  | $ | 198,577 |  | $ | 146,837 |  | $ | 53,378 |  | $ | 48,684 |  | $ | 20,209 |  | $ | 545,791
Service charges and fees on deposit accounts |  | - |  |  | 14,518 |  |  | 8,813 |  |  | - |  |  | 412 |  |  | 2,039 |  |  | 25,782
Insurance commissions |  | - |  |  | 9,137 |  |  | - |  |  | - |  |  | 82 |  |  | 555 |  |  | 9,774
Merchant-related income |  | - |  |  | 4,710 |  |  | 776 |  |  | - |  |  | 39 |  |  | 752 |  |  | 6,277
Credit and debit card fees |  | - |  |  | 19,163 |  |  | 62 |  |  | - |  |  | 14 |  |  | 1,168 |  |  | 20,407
Other service charges and fees |  | 561 |  |  | 2,729 |  |  | 1,927 |  |  | - |  |  | 1,351 |  |  | 438 |  |  | 7,006
Not in scope of ASC Topic 606 (1) |  | 18,613 |  |  | 1,256 |  |  | 352 |  |  | 202 |  |  | 1,110 |  |  | 7 |  |  | 21,540
| Total non-interest income |  | 19,174 |  |  | 51,513 |  |  | 11,930 |  |  | 202 |  |  | 3,008 |  |  | 4,959 |  |  | 90,786
Total Revenue | $ | 97,280 |  | $ | 250,090 |  | $ | 158,767 |  | $ | 53,580 |  | $ | 51,692 |  | $ | 25,168 |  | $ | 636,577
(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, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income (1) | $ | 55,177 |  | $ | 165,609 |  | $ | 86,631 |  | $ | 55,549 |  | $ | 39,939 |  | $ | 19,650 |  | $ | 422,555
Service charges and fees on deposit accounts |  | - |  |  | 8,777 |  |  | 5,049 |  |  | - |  |  | 416 |  |  | 2,038 |  |  | 16,280
Insurance commissions |  | - |  |  | 6,933 |  |  | - |  |  | - |  |  | 24 |  |  | 479 |  |  | 7,436
Merchant-related income |  | - |  |  | 3,535 |  |  | - |  |  | - |  |  | - |  |  | 570 |  |  | 4,105
Credit and debit card fees |  | - |  |  | 12,380 |  |  | 45 |  |  | - |  |  | 12 |  |  | 1,076 |  |  | 13,513
Other service charges and fees |  | 215 |  |  | 1,882 |  |  | 1,591 |  |  | 89 |  |  | 1,366 |  |  | 1,393 |  |  | 6,536
Not in scope of ASC Topic 606 (1) (2) |  | 14,628 |  |  | 3,127 |  |  | 988 |  |  | 13,688 |  |  | 716 |  |  | 9 |  |  | 33,156
Total non-interest income |  | 14,843 |  |  | 36,634 |  |  | 7,673 |  |  | 13,777 |  |  | 2,534 |  |  | 5,565 |  |  | 81,026
Total Revenue | $ | 70,020 |  | $ | 202,243 |  | $ | 94,304 |  | $ | 69,326 |  | $ | 42,473 |  | $ | 25,215 |  | $ | 503,581
(1) | Most of the Corporation’s revenue is not within the scope of ASC Topic 606. The guidance explicitly excludes net interest income from financial assets and liabilities, as well as other non-interest income from loans, leases, investment securities and derivative financial instruments.
(2) | For the nine-month period ended September 30, 2020, includes a $5.0 million benefit resulting from the final settlement of the Corporation’s business interruption insurance claim related to lost profits caused by Hurricanes Irma and Maria in 2017. This insurance recovery is presented as part of Other non-interest income in the consolidated statements of income.
|  | Quarter Ended |  | Nine-Month Period Ended
|  | September 30, |  | September 30,
(In thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Beginning Balance | $ | 1,989 |  | $ | 2,314 |  | $ | 2,151 |  | $ | 2,476
Less: |  |  |  |  |  |  |  |  |  |  |
Revenue recognized |  | (433) |  |  | (81) |  |  | (595) |  |  | (243)
Ending balance | $ | 1,556 |  | $ | 2,233 |  | $ | 1,556 |  | $ | 2,233

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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045 + Details
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