XML 36 R25.htm IDEA: XBRL DOCUMENT v3.25.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
SEGMENT INFORMATION [Abstract]  
SEGMENT INFORMATION
NOTE 17 – SEGMENT INFORMATION
The Corporation’s
 
operating segments
 
are based
 
primarily on
 
the Corporation’s
 
lines of
 
business for
 
its operations
 
in Puerto
 
Rico,
the
 
Corporation’s
 
principal
 
market,
 
and
 
by
 
geographic
 
areas
 
for
 
its
 
operations
 
outside
 
of
 
Puerto
 
Rico.
 
As
 
of
 
June
 
30,
 
2025,
 
the
Corporation
 
had
six
 
reportable
 
segments:
 
Mortgage
 
Banking;
 
Consumer
 
(Retail)
 
Banking;
 
Commercial
 
and
 
Corporate
 
Banking;
Treasury and
 
Investments; United States Operations;
 
and Virgin
 
Islands Operations. The Chief
 
Executive Officer (“CEO”),
 
who is the
designated
 
chief
 
operating
 
decision
 
maker
 
(“CODM”),
 
as
 
ultimate
 
decision
 
maker,
 
evaluates
 
performance
 
and
 
allocates
 
resources
based
 
on financial
 
information
 
provided
 
by management.
 
In determining
 
the reportable
 
segments,
 
the
 
Corporation
 
considers
 
factors
such as
 
the organizational
 
structure, nature
 
of the
 
products,
 
distribution
 
channels, customer
 
relationship
 
management,
 
and economic
characteristics
 
of
 
the
 
business
 
lines.
 
The
 
Corporation
 
evaluates
 
the
 
performance
 
of
 
the
 
segments
 
based
 
on
 
segment
 
income
 
or
 
loss,
which consists of
 
net interest income,
 
the provision for
 
credit losses, non-interest
 
income and
 
non-interest expenses.
 
Segment income
or
 
loss
 
is
 
measured
 
on
 
a
 
pre-tax
 
basis,
 
consistent
 
with
 
the
 
Corporation’s
 
consolidated
 
financial
 
statements
 
under
 
GAAP.
 
The
 
total
segment income or loss equals
 
consolidated pre-tax income or
 
loss, and no adjustments or
 
reconciliations are necessary.
 
The segments
are also
 
evaluated based
 
on the
 
average volume
 
of their
 
interest-earning assets
 
(net of
 
fair value
 
adjustments of
 
investment securities
and the ACL).
The
 
Mortgage
 
Banking
 
segment
 
consists
 
of
 
the
 
origination,
 
sale,
 
and
 
servicing
 
of
 
a
 
variety
 
of
 
residential
 
mortgage
 
loans.
 
The
Mortgage
 
Banking
 
segment
 
also
 
acquires
 
and
 
sells
 
mortgages
 
in
 
the
 
secondary
 
market.
 
The
 
Consumer
 
(Retail)
 
Banking
 
segment
includes the
 
Corporation’s
 
consumer lending,
 
commercial lending
 
to small
 
businesses, commercial
 
transaction banking,
 
and deposit-
taking activities
 
primarily conducted
 
through its
 
branch network
 
and loan
 
centers. The
 
Commercial and
 
Corporate Banking
 
segment
consists of the
 
Corporation’s
 
lending and other
 
services for large
 
customers represented
 
by specialized and
 
middle-market clients and
the government sector.
 
The Commercial and Corporate Banking segment
 
consists of the Corporation’s
 
commercial lending (other than
small
 
business
 
commercial
 
loans)
 
and
 
commercial
 
deposit-taking
 
activities
 
(other
 
than
 
the
 
government
 
sector).
 
The
 
Treasury
 
and
Investments segment
 
is responsible for
 
the Corporation’s
 
investment portfolio
 
and treasury functions
 
that are executed
 
to manage and
enhance
 
liquidity.
 
Under
 
the
 
Corporation’s
 
fund
 
transfer
 
pricing
 
(“FTP”)
 
methodology,
 
the
 
Treasury
 
and
 
Investments
 
segment
centrally
 
manages
 
funding
 
by
 
providing
 
funds
 
to
 
the
 
Mortgage
 
Banking,
 
Consumer
 
(Retail)
 
Banking,
 
Commercial
 
and
 
Corporate
Banking, United States
 
Operations, and Virgin
 
Islands Operations segments
 
to support their lending
 
activities and compensating
 
these
units
 
for
 
deposits
 
gathered.
 
The
 
mismatch
 
between
 
funds
 
provided
 
and
 
funds
 
used
 
is
 
managed
 
by
 
the
 
Treasury
 
and
 
Investments
segment.
 
The
 
funds
 
transfer
 
pricing
 
charged
 
or
 
credited
 
are
 
calculated
 
using
 
the
 
SOFR/swap
 
curve
 
with
 
term
 
rates,
 
adjusted
 
for
 
a
funding
 
spread
 
that
 
reflects
 
the
 
Corporation’s
 
cost
 
of
 
funds.
 
The
 
methodology,
 
which
 
is
 
performed
 
based
 
on
 
matched
 
maturity
funding,
 
ensures a
 
market-based
 
allocation of
 
funding costs
 
and credits,
 
impacting segment
 
profitability
 
by aligning
 
internal pricing
with external market conditions. The United States Operations segment
 
consists of all banking activities conducted by FirstBank in the
United States
 
mainland, including
 
commercial and
 
consumer banking
 
services. The
 
Virgin
 
Islands Operations
 
segment consists of
 
all
banking activities conducted by the Corporation in the USVI and the
 
BVI, including commercial and consumer banking services.
Prior period segment results
 
have been recast to
 
reflect certain refinements made
 
to enhance internal reporting
 
described in Note 25
– “Segment
 
Information”
 
to the
 
audited consolidated
 
financial statements
 
included
 
in the
 
2024 Annual
 
Report on
 
Form 10-K.
 
Also,
see Note
 
1 –
 
“Nature of
 
Business and
 
Summary of
 
Significant Accounting
 
Policies” to
 
the audited
 
consolidated financial
 
statements
included in the 2024
 
Annual Report on Form
 
10-K for the accounting
 
policies of the segments and
 
information related to the
 
adoption
of ASU 2023-07.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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, 2025:
Interest income
$
32,330
$
105,243
$
61,419
$
33,145
$
38,157
$
7,896
$
278,190
Net (charge) credit for transfer of funds
(14,660)
79,150
(15,759)
(57,180)
(2,502)
10,951
-
Interest expense
-
(38,491)
(3,604)
(3,095)
(15,213)
(1,928)
(62,331)
Net interest income (loss)
17,670
145,902
42,056
(27,130)
20,442
16,919
215,859
Provision for credit losses - expense (benefit)
351
17,203
701
(3)
2,015
320
20,587
Non-interest income
 
3,498
22,364
1,895
19
862
2,312
30,950
Non-interest expenses:
 
Employees’ compensation and benefits
6,762
35,405
4,992
1,027
7,268
4,604
60,058
 
Occupancy and equipment
1,496
14,834
1,530
180
1,933
2,324
22,297
 
Business promotion
266
2,402
216
180
229
202
3,495
 
Professional fees
1,492
6,622
997
361
1,086
1,051
11,609
 
Taxes, other than income taxes
446
4,293
576
112
104
181
5,712
 
FDIC deposit insurance
417
770
673
-
237
138
2,235
 
Net (gain) loss on OREO operations
(840)
-
145
-
-
104
(591)
 
Credit and debit card processing expenses
-
6,845
214
-
3
685
7,747
 
Other non-interest expenses
(1)
789
6,323
1,366
637
731
929
10,775
 
Total non-interest expenses
10,828
77,494
10,709
2,497
11,591
10,218
123,337
 
Segment income (loss)
$
9,989
$
73,569
$
32,541
$
(29,605)
$
7,698
$
8,693
$
102,885
Average interest-earning assets
$
2,164,350
$
4,018,961
$
3,575,929
$
5,638,582
$
2,419,981
$
457,177
$
18,274,980
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
$
31,594
$
105,256
$
62,649
$
28,912
$
36,413
$
7,421
$
272,245
Net (charge) credit for transfer of funds
(13,409)
69,962
(20,154)
(44,035)
(2,475)
10,111
-
Interest expense
-
(39,366)
(3,976)
(11,943)
(14,978)
(2,354)
(72,617)
Net interest income (loss)
18,185
135,852
38,519
(27,066)
18,960
15,178
199,628
Provision for credit losses - (benefit) expense
 
(9,832)
26,551
(2,084)
60
(3,524)
434
11,605
Non-interest income
3,606
23,134
1,749
122
845
2,582
32,038
Non-interest expenses:
 
Employees’ compensation and benefits
6,611
33,889
4,712
848
7,015
4,381
57,456
 
Occupancy and equipment
1,451
14,583
1,423
178
1,980
2,236
21,851
 
Business promotion
404
3,017
282
187
276
193
4,359
 
Professional fees
1,960
6,923
989
371
1,040
1,148
12,431
 
Taxes, other than income taxes
450
4,069
474
103
140
172
5,408
 
FDIC deposit insurance
434
809
693
-
222
158
2,316
 
Net (gain) loss on OREO operations
(1,503)
-
(2,205)
-
2
97
(3,609)
 
Credit and debit card processing expenses
-
6,557
208
-
3
839
7,607
 
Other non-interest expenses
(1)
672
6,448
1,513
586
666
978
10,863
 
Total non-interest expenses
10,479
76,295
8,089
2,273
11,344
10,202
118,682
 
Segment income (loss)
$
21,144
$
56,140
$
34,263
$
(29,277)
$
11,985
$
7,124
$
101,379
Average interest-earning assets
$
2,122,474
$
4,022,781
$
3,503,782
$
5,842,575
$
2,119,230
$
419,052
$
18,029,894
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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)
Six-Month Period Ended June 30, 2025
Interest income
$
64,394
$
210,996
$
123,291
$
65,783
$
75,557
$
15,234
$
555,255
Net (charge) credit for transfer of funds
(29,138)
154,247
(31,039)
(111,897)
(3,541)
21,368
-
Interest expense
-
(76,326)
(7,387)
(8,675)
(30,785)
(3,826)
(126,999)
Net interest income (loss)
35,256
288,917
84,865
(54,789)
41,231
32,776
428,256
Provision for credit losses - expense (benefit)
1,027
37,223
3,355
(8)
2,864
936
45,397
Non-interest income
7,080
48,557
4,152
170
1,716
5,009
66,684
Non-interest expenses:
 
Employees’ compensation and benefits
13,734
72,024
10,756
2,167
14,267
9,247
122,195
 
Occupancy and equipment
3,013
29,963
3,134
353
3,811
4,653
44,927
 
Business promotion
469
4,722
434
350
502
296
6,773
 
Professional fees
3,032
12,866
2,039
709
2,034
2,415
23,095
 
Taxes, other than income taxes
917
8,687
1,181
232
221
352
11,590
 
FDIC deposit insurance
832
1,548
1,341
-
474
276
4,471
 
Net (gain) loss on OREO operations
(1,936)
-
181
-
-
35
(1,720)
 
Credit and debit processing expenses
-
10,847
474
-
5
1,531
12,857
 
Other non-interest expenses
(1)
1,761
13,056
2,778
1,285
1,442
1,849
22,171
 
Total non-interest expenses
21,822
153,713
22,318
5,096
22,756
20,654
246,359
 
Segment income (loss)
$
19,487
$
146,538
$
63,344
$
(59,707)
$
17,327
$
16,195
$
203,184
Average interest-earning assets
$
2,160,476
$
4,037,398
$
3,563,429
$
5,684,108
$
2,405,923
$
441,720
$
18,293,054
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
$
63,151
$
209,900
$
124,799
$
56,970
$
71,178
$
14,752
$
540,750
Net (charge) credit for transfer of funds
(26,820)
136,520
(40,692)
(83,665)
(4,713)
19,370
-
Interest expense
-
(77,429)
(8,012)
(25,061)
(29,520)
(4,580)
(144,602)
Net interest income (loss)
36,331
268,991
76,095
(51,756)
36,945
29,542
396,148
Provision for credit losses - (benefit) expense
(10,098)
42,462
(5,010)
(9)
(3,442)
(131)
23,772
Non-interest income
6,727
48,853
3,401
233
1,752
5,055
66,021
Non-interest expenses:
 
Employees’ compensation and benefits
13,362
68,876
9,630
1,840
14,288
8,966
116,962
 
Occupancy and equipment
2,874
28,871
2,784
378
3,904
4,421
43,232
 
Business promotion
636
5,789
516
403
511
346
8,201
 
Professional fees
4,290
13,880
1,928
688
2,127
2,194
25,107
 
Taxes, other than income taxes
869
7,959
911
198
268
332
10,537
 
FDIC deposit insurance
1,008
1,880
1,610
-
533
387
5,418
 
Net (gain) loss on OREO operations
(3,026)
-
(2,159)
-
2
122
(5,061)
 
Credit and debit processing expenses
-
11,368
402
-
5
1,583
13,358
 
Other non-interest expenses
(1)
1,489
13,049
3,018
1,190
1,295
1,810
21,851
 
Total non-interest expenses
21,502
151,672
18,640
4,697
22,933
20,161
239,605
 
Segment income (loss)
$
31,654
$
123,710
$
65,866
$
(56,211)
$
19,206
$
14,567
$
198,792
Average interest-earning assets
$
2,127,479
$
4,006,806
$
3,501,142
$
5,871,437
$
2,103,523
$
416,140
$
18,026,527
(1) Consists of communication expenses and the expense categories described
 
in Note 19 - “Other Non-Interest Expenses,” to the audited consolidated
 
financial statements included in the 2024 Annual Report on Form 10-K.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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,
2025
2024
2025
2024
(In thousands)
Average assets:
Total average earning assets for segments
 
$
18,274,980
$
18,029,894
$
18,293,054
$
18,026,527
Average non-earning assets
(1)
 
766,226
854,537
780,918
844,838
 
Total consolidated average assets
$
19,041,206
$
18,884,431
$
19,073,972
$
18,871,365
(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.