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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2024
SEGMENT INFORMATION [Abstract] |
Information by Segment [Table 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) Year Ended December 31, 2024 Interest income $ 127,189 $ 423,738 $ 251,899 $ 116,734 $ 146,637 $ 28,956 $ 1,095,153 Net (charge) credit for transfer of funds (54,734) 284,065 (78,291) (184,627) (7,215) 40,802 - Interest expense - (156,983) (15,936) (44,258) (61,434) (9,063) (287,674) Net interest income (loss) 72,455 550,820 157,672 (112,151) 77,988 60,695 807,479 Provision for credit losses - (benefit) expense (15,526) 95,315 (12,928) (50) (6,661) (229) 59,921 Non-interest income 13,507 96,239 6,996 455 3,589 9,936 130,722 Non-interest expenses: Employees' compensation and benefits 27,144 139,176 19,538 3,648 28,203 17,986 235,695 Occupancy and equipment 5,858 59,478 5,725 739 7,607 9,020 88,427 Business promotion 1,264 12,331 1,166 727 1,280 877 17,645 Professional fees 7,638 27,618 4,022 1,313 4,383 4,481 49,455 Taxes, other than income taxes 1,808 16,702 2,107 407 503 669 22,196 FDIC deposit insurance 1,832 3,415 2,926 - 962 683 9,818 Net (gain) loss on OREO operations (5,553) (51) (2,483) - (4) 617 (7,474) Credit and debit processing expenses - 23,620 764 - 10 3,206 27,600 Other non-interest expenses (1) 2,994 26,159 5,956 2,363 2,640 3,599 43,711 Total non-interest expenses 42,985 308,448 39,721 9,197 45,584 41,138 487,073 Segment income (loss) $ 58,503 $ 243,296 $ 137,875 $ (120,843) $ 42,654 $ 29,722 $ 391,207 Average interest-earning assets $ 2,134,551 $ 4,042,201 $ 3,518,554 $ 5,850,884 $ 2,176,701 $ 403,365 $ 18,126,256 Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total (In thousands) Year Ended December 31, 2023 Interest income $ 127,154 $ 390,619 $ 229,217 $ 116,382 $ 132,490 $ 27,624 $ 1,023,486 Net (charge) credit for transfer of funds (51,380) 214,392 (71,813) (111,433) (12,830) 33,064 - Interest expense - (120,705) (15,091) (36,893) (48,862) (4,825) (226,376) Net interest income (loss) 75,774 484,306 142,313 (31,944) 70,798 55,863 797,110 Provision for credit losses - (benefit) expense (7,908) 66,072 (5,997) 20 8,687 66 60,940 Non-interest income 11,213 92,608 11,053 2,125 6,839 8,856 132,694 Non-interest expenses: Employees' compensation and benefits 25,463 133,422 17,426 3,354 25,960 17,230 222,855 Occupancy and equipment 6,015 58,000 4,987 717 6,959 9,233 85,911 Business promotion 1,446 13,787 1,218 881 1,221 1,073 19,626 Professional fees 7,054 25,251 3,501 654 4,300 5,081 45,841 Taxes, other than income taxes 1,382 16,891 1,272 425 552 714 21,236 FDIC deposit insurance 2,879 5,043 4,311 - 1,524 1,116 14,873 Net (gain) loss on OREO operations (7,305) (58) 96 - (150) 279 (7,138) Credit and debit processing expenses - 22,258 1,457 - 10 2,272 25,997 Other non-interest expenses (1) 2,968 25,878 5,332 2,562 2,393 3,094 42,227 Total non-interest expenses 39,902 300,472 39,600 8,593 42,769 40,092 471,428 Segment income (loss) $ 54,993 $ 210,370 $ 119,763 $ (38,432) $ 26,181 $ 24,561 $ 397,436 Average interest-earning assets $ 2,149,445 $ 3,770,393 $ 3,299,209 $ 6,186,018 $ 2,072,292 $ 389,489 $ 17,866,846 Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total (In thousands) Year ended December 31, 2022: Interest income $ 130,844 $ 331,558 $ 177,526 $ 102,991 $ 94,782 $ 24,913 $ 862,614 Net (charge) credit for transfer of funds (52,746) 161,946 (30,130) (96,178) (9,065) 26,173 - Interest expense - (30,301) (3,620) (20,777) (11,549) (1,074) (67,321) Net interest income (loss) 78,098 463,203 143,776 (13,964) 74,168 50,012 795,293 Provision for credit losses - (benefit) expense (7,936) 54,934 (17,759) (434) (3,073) 1,964 27,696 Non-interest income 15,698 88,857 7,274 (161) 3,006 8,418 123,092 Non-interest expenses: Employees' compensation and benefits 24,460 120,356 16,841 3,168 24,626 16,587 206,038 Occupancy and equipment 6,647 58,036 5,449 814 7,141 10,190 88,277 Business promotion 1,371 12,754 1,061 901 1,104 1,040 18,231 Professional fees 7,716 25,120 3,990 1,292 4,472 5,258 47,848 Taxes, other than income taxes 964 17,105 816 370 419 593 20,267 FDIC deposit insurance 1,346 1,983 1,793 - 565 462 6,149 Net (gain) loss on OREO operations (6,391) 27 610 - (172) 100 (5,826) Credit and debit processing expenses - 19,452 1,292 - 11 1,981 22,736 Other non-interest expenses (1) 2,802 23,644 4,619 2,451 2,531 3,338 39,385 Total non-interest expenses 38,915 278,477 36,471 8,996 40,697 39,549 443,105 Segment income (loss) $ 62,817 $ 218,649 $ 132,338 $ (22,687) $ 39,550 $ 16,917 $ 447,584 Average interest-earning assets $ 2,240,946 $ 3,372,309 $ 3,165,020 $ 7,300,208 $ 2,069,030 $ 369,591 $ 18,517,104 (1) Consists of communication expenses and the expense categories included in Note 19 - “Other Non-Interest Expenses.”
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: Year Ended December 31, 2024 2023 2022 (In thousands) Average assets: Total average interest-earning assets for segments $ 18,126,256 $ 17,866,846 $ 18,517,104 Average non-interest-earning assets (1) 835,100 839,577 861,545 Total consolidated average assets $ 18,961,356 $ 18,706,423 $ 19,378,649 (1) Includes, among other things, non-interest-earning cash, premises and equipment, net deferred tax asset, ROU assets, and accrued interest receivable on loans and investments.
Revenues and Selected Balance Sheet Data by Geography [Table Text Block] | The following table presents revenues (interest income plus non-interest income) and selected balance sheet data by geography based on the location in which the transaction was originated as of the indicated dates: 2024 2023 2022 (In thousands) Revenues: Puerto Rico $ 1,036,757 $ 980,371 $ 854,587 United States 150,226 139,329 97,788 Virgin Islands 38,892 36,480 33,331 Total consolidated revenues $ 1,225,875 $ 1,156,180 $ 985,706 Selected Balance Sheet Information: Total assets: Puerto Rico $ 16,427,587 $ 16,308,000 $ 16,020,987 United States 2,403,379 2,141,427 2,213,333 Virgin Islands 461,955 460,122 400,164 Loans: Puerto Rico $ 10,036,686 $ 9,745,872 $ 9,097,013 United States 2,295,234 2,022,261 2,088,351 Virgin Islands 429,912 424,718 379,767 Deposits: Puerto Rico (1) $ 13,562,227 $ 13,429,303 $ 12,933,570 United States (2) 1,864,772 1,631,402 1,623,725 Virgin Islands 1,444,299 1,495,280 1,586,172 (1) For 2024, 2023, and 2022, includes $ 33.0 million, $ 420.2 million, and $ 1.4 million, respectively, of brokered CDs allocated to Puerto Rico operations. (2) For 2024, 2023, and 2022, includes $ 445.1 million, $ 363.1 million, and $ 104.4 million, respectively, of brokered CDs allocated to United States operations.

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