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SEGMENT INFORMATION (Tables)
6 Months Ended
Jun. 30, 2024
SEGMENT INFORMATION [Abstract]  
Schedule Of Segment Reporting Information By Segment [Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following tables present information about the reportable segments for
 
the indicated periods:
Mortgage
Banking
Consumer
(Retail) Banking
Commercial and
Corporate
Banking
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
Quarter ended June 30, 2024:
Interest income
$
31,446
$
95,139
$
72,914
$
28,912
$
36,413
$
7,421
$
272,245
Net (charge) credit for transfer of funds
(17,114)
99,472
(57,987)
(21,820)
(2,551)
-
-
Interest expense
-
(43,342)
-
(11,943)
(14,978)
(2,354)
(72,617)
Net interest income (loss)
14,332
151,269
14,927
(4,851)
18,884
5,067
199,628
Provision for credit losses - (benefit) expense
(9,794)
26,076
(1,647)
60
(3,524)
434
11,605
Non-interest income
 
3,661
20,463
4,816
98
834
2,166
32,038
Direct non-interest expenses
6,300
44,688
8,355
984
9,092
7,022
76,441
 
Segment income (loss)
$
21,487
$
100,968
$
13,035
$
(5,797)
$
14,150
$
(223)
$
143,620
Average earning assets
$
2,116,306
$
3,487,340
$
4,045,222
$
5,842,575
$
2,119,230
$
419,052
$
18,029,725
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage
Banking
Consumer
(Retail) Banking
Commercial and
Corporate
Banking
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
Quarter ended June 30, 2023:
Interest income
$
31,605
$
86,989
$
65,356
$
29,528
$
32,098
$
6,628
$
252,204
Net (charge) credit for transfer of funds
(10,245)
86,144
(52,423)
(22,739)
(737)
-
-
Interest expense
-
(30,536)
-
(9,578)
(11,671)
(604)
(52,389)
Net interest income (loss)
21,360
142,597
12,933
(2,789)
19,690
6,024
199,815
Provision for credit losses - (benefit) expense
 
(3,829)
13,669
7,675
(16)
4,017
714
22,230
Non-interest income
3,062
20,221
8,145
1,680
1,155
2,008
36,271
Direct non-interest expenses
5,533
41,814
9,340
923
8,502
6,731
72,843
 
Segment income (loss)
$
22,718
$
107,335
$
4,063
$
(2,016)
$
8,326
$
587
$
141,013
Average earning assets
$
2,144,340
$
3,241,768
$
3,770,463
$
6,364,024
$
2,038,621
$
371,685
$
17,930,901
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage
Banking
Consumer (Retail)
Banking
Commercial
and Corporate
Banking
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
Six-Month Period Ended June 30, 2024
Interest income
$
62,889
$
189,934
$
145,026
$
56,970
$
71,178
$
14,753
$
540,750
Net (charge) credit for transfer of funds
(32,734)
195,723
(115,171)
(43,292)
(4,526)
-
-
Interest expense
-
(85,441)
-
(25,061)
(29,520)
(4,580)
(144,602)
Net interest income (loss)
30,155
300,216
29,855
(11,383)
37,132
10,173
396,148
Provision for credit losses - (benefit) expense
(10,054)
41,494
(4,086)
(9)
(3,442)
(131)
23,772
Non-interest income
6,680
43,869
9,317
181
1,735
4,239
66,021
Direct non-interest expenses
13,005
87,333
18,694
2,055
18,202
13,613
152,902
 
Segment income (loss)
$
33,884
$
215,258
$
24,564
$
(13,248)
$
24,107
$
930
$
285,495
Average earnings assets
$
2,121,386
$
3,480,169
$
4,033,698
$
5,871,444
$
2,103,523
$
416,135
$
18,026,355
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage
Banking
Consumer (Retail)
Banking
Commercial
and Corporate
Banking
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
Six-Month Period Ended June 30, 2023
Interest income
$
63,512
$
170,163
$
127,699
$
56,994
$
63,212
$
13,020
$
494,600
Net (charge) credit for transfer of funds
(20,364)
163,879
(99,826)
(42,278)
(1,411)
-
-
Interest expense
-
(53,701)
-
(18,163)
(21,181)
(855)
(93,900)
Net interest income (loss)
43,148
280,341
27,873
(3,447)
40,620
12,165
400,700
Provision for credit losses - (benefit) expense
(4,335)
28,893
5,139
(25)
8,672
(612)
37,732
Non-interest income
6,136
42,255
12,320
1,840
2,002
4,236
68,789
Direct non-interest expenses
10,620
83,441
18,705
1,870
16,806
13,556
144,998
 
Segment income (loss)
$
42,999
$
210,262
$
16,349
$
(3,452)
$
17,144
$
3,457
$
286,759
Average earnings assets
$
2,157,626
$
3,208,146
$
3,742,205
$
6,290,669
$
2,053,154
$
369,026
$
17,820,826
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 June 30,
Six-Month Period Ended June 30,
2024
2023
2024
2023
(In thousands)
Net income:
 
Total income for segments
 
$
143,620
$
141,013
$
285,495
$
286,759
Other operating expenses
 
(1)
42,241
40,074
86,703
83,187
Income before income taxes
101,379
100,939
198,792
203,572
Income tax expense
25,541
30,284
49,496
62,219
 
Total consolidated net income
$
75,838
$
70,655
$
149,296
$
141,353
Average assets:
Total average earning assets for segments
 
$
18,029,725
$
17,930,901
$
18,026,355
$
17,820,826
Average non-earning assets
 
854,706
857,677
845,010
852,680
 
Total consolidated average assets
$
18,884,431
$
18,788,578
$
18,871,365
$
18,673,506
(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.