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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 6 Months Ended
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Jun. 30, 2022
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue [Table Text Block] | 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 six-month periods ended June 30, 2022 and 2021:
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
Quarter Ended June 30, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income (1) | $ | 26,335 |  | $ | 102,397 |  | $ | 31,379 |  | $ | 11,466 |  | $ | 18,688 |  | $ | 5,921 |  | $ | 196,186
Service charges and fees on deposit accounts |  | - |  |  | 5,495 |  |  | 3,069 |  |  | - |  |  | 157 |  |  | 745 |  |  | 9,466
Insurance commissions (2) |  | - |  |  | 2,724 |  |  | - |  |  | - |  |  | 20 |  |  | 202 |  |  | 2,946
Merchant-related income |  | - |  |  | 1,711 |  |  | 381 |  |  | - |  |  | 17 |  |  | 327 |  |  | 2,436
Credit and debit card fees |  | - |  |  | 7,391 |  |  | 21 |  |  | - |  |  | 3 |  |  | 449 |  |  | 7,864
Other service charges and fees |  | 59 |  |  | 2,066 |  |  | 876 |  |  | - |  |  | 485 |  |  | 157 |  |  | 3,643
Not in scope of ASC Topic 606 (1) |  | 4,108 |  |  | 396 |  |  | 101 |  |  | (51) |  |  | (4) |  |  | 36 |  |  | 4,586
| Total non-interest income |  | 4,167 |  |  | 19,783 |  |  | 4,448 |  |  | (51) |  |  | 678 |  |  | 1,916 |  |  | 30,941
Total Revenue | $ | 30,502 |  | $ | 122,180 |  | $ | 35,827 |  | $ | 11,415 |  | $ | 19,366 |  | $ | 7,837 |  | $ | 227,127
(In thousands) | Mortgage Banking |  | Consumer (Retail) Banking |  | Commercial and Corporate |  | Treasury and Investments |  | United States Operations |  | Virgin Islands Operations |  | Total
Quarter Ended June 30, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income (1) | $ | 26,331 |  | $ | 64,751 |  | $ | 51,498 |  | $ | 19,039 |  | $ | 16,406 |  | $ | 6,758 |  | $ | 184,783
Service charges and fees on deposit accounts |  | - |  |  | 4,966 |  |  | 2,987 |  |  | - |  |  | 135 |  |  | 700 |  |  | 8,788
Insurance commissions (2) |  | - |  |  | 1,987 |  |  | - |  |  | - |  |  | 28 |  |  | 200 |  |  | 2,215
Merchant-related income |  | - |  |  | 1,910 |  |  | 257 |  |  | - |  |  | 12 |  |  | 283 |  |  | 2,462
Credit and debit card fees |  | - |  |  | 6,621 |  |  | 21 |  |  | - |  |  | 11 |  |  | 404 |  |  | 7,057
Other service charges and fees |  | 177 |  |  | 846 |  |  | 693 |  |  | - |  |  | 431 |  |  | 147 |  |  | 2,294
Not in scope of ASC Topic 606 (1) |  | 5,960 |  |  | 396 |  |  | 181 |  |  | 85 |  |  | 451 |  |  | (5) |  |  | 7,068
| Total non-interest income |  | 6,137 |  |  | 16,726 |  |  | 4,139 |  |  | 85 |  |  | 1,068 |  |  | 1,729 |  |  | 29,884
Total Revenue | $ | 32,468 |  | $ | 81,477 |  | $ | 55,637 |  | $ | 19,124 |  | $ | 17,474 |  | $ | 8,487 |  | $ | 214,667
(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, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income (1) | $ | 52,114 |  | $ | 191,943 |  | $ | 71,794 |  | $ | 18,875 |  | $ | 35,170 |  | $ | 11,914 |  | $ | 381,810
Service charges and fees on deposit accounts |  | - |  |  | 11,034 |  |  | 6,045 |  |  | - |  |  | 295 |  |  | 1,455 |  |  | 18,829
Insurance commissions (2) |  | - |  |  | 7,691 |  |  | - |  |  | - |  |  | 49 |  |  | 481 |  |  | 8,221
Merchant-related income |  | - |  |  | 3,533 |  |  | 754 |  |  | - |  |  | 22 |  |  | 716 |  |  | 5,025
Credit and debit card fees |  | - |  |  | 14,062 |  |  | 37 |  |  | - |  |  | (4) |  |  | 859 |  |  | 14,954
Other service charges and fees |  | 202 |  |  | 3,176 |  |  | 1,989 |  |  | - |  |  | 984 |  |  | 314 |  |  | 6,665
Not in scope of ASC Topic 606 (1) |  | 9,217 |  |  | 750 |  |  | 177 |  |  | (163) |  |  | 76 |  |  | 48 |  |  | 10,105
| Total non-interest income |  | 9,419 |  |  | 40,246 |  |  | 9,002 |  |  | (163) |  |  | 1,422 |  |  | 3,873 |  |  | 63,799
Total Revenue | $ | 61,533 |  | $ | 232,189 |  | $ | 80,796 |  | $ | 18,712 |  | $ | 36,592 |  | $ | 15,787 |  | $ | 445,609
(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, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income (1) | $ | 51,571 |  | $ | 123,234 |  | $ | 100,479 |  | $ | 40,622 |  | $ | 31,429 |  | $ | 13,713 |  | $ | 361,048
Service charges and fees on deposit accounts |  | - |  |  | 9,442 |  |  | 5,958 |  |  | - |  |  | 284 |  |  | 1,408 |  |  | 17,092
Insurance commissions (2) |  | - |  |  | 6,954 |  |  | - |  |  | - |  |  | 57 |  |  | 445 |  |  | 7,456
Merchant-related income |  | - |  |  | 2,832 |  |  | 513 |  |  | - |  |  | 25 |  |  | 487 |  |  | 3,857
Credit and debit card fees |  | - |  |  | 12,266 |  |  | 40 |  |  | - |  |  | 14 |  |  | 774 |  |  | 13,094
Other service charges and fees |  | 350 |  |  | 1,711 |  |  | 1,212 |  |  | - |  |  | 889 |  |  | 288 |  |  | 4,450
Not in scope of ASC Topic 606 (1) |  | 12,903 |  |  | 764 |  |  | 313 |  |  | 141 |  |  | 774 |  |  | (4) |  |  | 14,891
Total non-interest income |  | 13,253 |  |  | 33,969 |  |  | 8,036 |  |  | 141 |  |  | 2,043 |  |  | 3,398 |  |  | 60,840
Total Revenue | $ | 64,824 |  | $ | 157,203 |  | $ | 108,515 |  | $ | 40,763 |  | $ | 33,472 |  | $ | 17,111 |  | $ | 421,888
(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) | Contingent commission income is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur or payments are received. For the quarter and six-month period ended June 30, 2022, the Corporation recognized revenue at the time that payments were confirmed and constraints were released of $265 thousand and $3.2 million, respectively, compared to $16 thousand and $3.3 million for the quarter and six-month period ended June 30, 2021.
|  | Quarter Ended |  | Six-Month Period Ended
|  | June 30, |  | June 30,
(In thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Beginning Balance | $ | 1,154 |  | $ | 2,070 |  | $ | 1,443 |  | $ | 2,151
Less: |  |  |  |  |  |  |  |  |  |  |
Revenue recognized |  | (105) |  |  | (81) |  |  | (394) |  |  | (162)
Ending balance | $ | 1,049 |  | $ | 1,989 |  | $ | 1,049 |  | $ | 1,989

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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=123351226&loc=SL49130545-203045 + Details
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