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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 9 Months Ended
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Sep. 30, 2022
Revenue from Contract with Customers [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 nine-month periods ended September 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 September 30, 2022: Net interest income (1) $ 24,338 $ 118,408 $ 22,861 $ 14,827 $ 21,494 $ 5,982 $ 207,910 Service charges and fees on deposit accounts - 5,744 3,169 - 151 756 9,820 Insurance commissions (2) - 2,485 - - 16 123 2,624 Merchant-related income - 1,458 347 - 32 330 2,167 Credit and debit card fees - 7,209 21 - (2) 439 7,667 Other service charges and fees 85 1,228 340 - 595 195 2,443 Not in scope of ASC Topic 606 (1) 3,648 997 399 33 (19) (86) 4,972 Total non-interest income 3,733 19,121 4,276 33 773 1,757 29,693 Total Revenue $ 28,071 $ 137,529 $ 27,137 $ 14,860 $ 22,267 $ 7,739 $ 237,603 (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) - 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 Nine-Month Period Ended September 30, 2022: Net interest income (1) $ 76,452 $ 310,351 $ 94,655 $ 33,702 $ 56,664 $ 17,896 $ 589,720 Service charges and fees on deposit accounts - 16,778 9,214 - 446 2,211 28,649 Insurance commissions (2) - 10,176 - - 65 604 10,845 Merchant-related income - 4,991 1,101 - 54 1,046 7,192 Credit and debit card fees - 21,271 58 - (6) 1,298 22,621 Other service charges and fees 287 4,404 2,329 - 1,579 509 9,108 Not in scope of ASC Topic 606 (1) 12,865 1,747 576 (130) 57 (38) 15,077 Total non-interest income 13,152 59,367 13,278 (130) 2,195 5,630 93,492 Total Revenue $ 89,604 $ 369,718 $ 107,933 $ 33,572 $ 58,859 $ 23,526 $ 683,212 (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 (2) - 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 (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 nine-month period ended September 30, 2022, the Corporation recognized revenue at the time that payments were confirmed and constraints were released of $ 3.2 million, compared to $ 3.3 million for the nine-month period ended September 30, 2021. No revenue was recognized during the quarters ended September 30, 2022 and 2021. Quarter Ended Nine-Month Period Ended September 30, September 30, (In thousands) 2022 2021 2022 2021 Beginning Balance $ 1,049 $ 1,989 $ 1,443 $ 2,151 Less: Revenue recognized (104) (433) (498) (595) Ending balance $ 945 $ 1,556 $ 945 $ 1,556

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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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045 + Details
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