XML 35 R24.htm IDEA: XBRL DOCUMENT v3.25.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 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 September
 
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 September 30, 2025:
Interest income
$
32,512
$
105,915
$
63,299
$
31,977
$
40,946
$
8,094
$
282,743
Net (charge) credit for transfer of funds
(14,876)
80,087
(15,485)
(58,473)
(1,840)
10,587
-
Interest expense
-
(38,095)
(3,738)
(4,461)
(16,589)
(1,944)
(64,827)
Net interest income (loss)
17,636
147,907
44,076
(30,957)
22,517
16,737
217,916
Provision for credit losses - (benefit) expense
(2,037)
18,280
728
146
41
435
17,593
Non-interest income
 
3,415
22,330
1,898
33
998
2,120
30,794
Non-interest expenses:
 
Employees’ compensation and benefits
6,659
35,865
4,647
1,035
7,039
4,516
59,761
 
Occupancy and equipment
1,434
14,923
1,457
176
1,840
2,355
22,185
 
Business promotion
227
2,765
252
172
276
192
3,884
 
Professional fees
1,636
6,698
927
319
1,151
1,172
11,903
 
Taxes, other than income taxes
481
4,573
653
112
105
168
6,092
 
FDIC deposit insurance
414
760
680
-
240
142
2,236
 
Net (gain) loss on OREO operations
(1,406)
-
(492)
-
-
2,931
1,033
 
Credit and debit card processing expenses
-
6,971
217
-
3
698
7,889
 
Other non-interest expenses
(1)
851
6,621
558
273
717
891
9,911
 
Total non-interest expenses
10,296
79,176
8,899
2,087
11,371
13,065
124,894
 
Segment income (loss)
$
12,792
$
72,781
$
36,347
$
(33,157)
$
12,103
$
5,357
$
106,223
Average interest-earning assets
$
2,172,385
$
4,019,262
$
3,639,505
$
5,361,692
$
2,584,121
$
462,264
$
18,239,229
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage
Banking
Consumer
(Retail) Banking
Commercial and
Corporate
Banking
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
Quarter ended September 30, 2024:
Interest income
$
32,200
$
106,864
$
63,476
$
28,099
$
37,049
$
6,987
$
274,675
Net (charge) credit for transfer of funds
(13,791)
73,064
(19,519)
(48,315)
(2,187)
10,748
-
Interest expense
-
(39,914)
(3,833)
(11,046)
(15,415)
(2,403)
(72,611)
Net interest income (loss)
18,409
140,014
40,124
(31,262)
19,447
15,332
202,064
Provision for credit losses - (benefit) expense
 
(5,175)
28,514
(6,842)
(36)
(1,010)
(206)
15,245
Non-interest income
3,407
23,912
1,671
250
959
2,303
32,502
Non-interest expenses:
 
Employees’ compensation and benefits
6,734
34,806
4,879
926
7,204
4,532
59,081
 
Occupancy and equipment
1,501
15,049
1,457
193
1,913
2,311
22,424
 
Business promotion
307
2,904
256
165
258
226
4,116
 
Professional fees
1,600
7,190
1,112
303
1,192
1,141
12,538
 
Taxes, other than income taxes
454
4,244
578
109
120
160
5,665
 
FDIC deposit insurance
405
756
647
-
208
148
2,164
 
Net (gain) loss on OREO operations
(1,350)
-
(88)
-
(6)
105
(1,339)
 
Credit and debit card processing expenses
-
6,111
180
-
2
802
7,095
 
Other non-interest expenses
(1)
715
6,881
1,468
584
703
840
11,191
 
Total non-interest expenses
10,366
77,941
10,489
2,280
11,594
10,265
122,935
 
Segment income (loss)
$
16,625
$
57,471
$
38,148
$
(33,256)
$
9,822
$
7,576
$
96,386
Average interest-earning assets
$
2,134,706
$
4,064,048
$
3,487,762
$
5,790,707
$
2,172,677
$
386,687
$
18,036,587
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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)
Nine-Month Period Ended September 30, 2025
Interest income
$
96,906
$
316,911
$
186,590
$
97,760
$
116,503
$
23,328
$
837,998
Net (charge) credit for transfer of funds
(44,014)
234,334
(46,524)
(170,370)
(5,381)
31,955
-
Interest expense
-
(114,421)
(11,125)
(13,136)
(47,374)
(5,770)
(191,826)
Net interest income (loss)
52,892
436,824
128,941
(85,746)
63,748
49,513
646,172
Provision for credit losses - (benefit) expense
(1,010)
55,503
4,083
138
2,905
1,371
62,990
Non-interest income
10,495
70,887
6,050
203
2,714
7,129
97,478
Non-interest expenses:
 
Employees’ compensation and benefits
20,393
107,889
15,403
3,202
21,306
13,763
181,956
 
Occupancy and equipment
4,447
44,886
4,591
529
5,651
7,008
67,112
 
Business promotion
696
7,487
686
522
778
488
10,657
 
Professional fees
4,668
19,564
2,966
1,028
3,185
3,587
34,998
 
Taxes, other than income taxes
1,398
13,260
1,834
344
326
520
17,682
 
FDIC deposit insurance
1,246
2,308
2,021
-
714
418
6,707
 
Net (gain) loss on OREO operations
(3,342)
-
(311)
-
-
2,966
(687)
 
Credit and debit processing expenses
-
17,818
691
-
8
2,229
20,746
 
Other non-interest expenses
(1)
2,612
19,677
3,336
1,558
2,159
2,740
32,082
 
Total non-interest expenses
32,118
232,889
31,217
7,183
34,127
33,719
371,253
 
Segment income (loss)
$
32,279
$
219,319
$
99,691
$
(92,864)
$
29,430
$
21,552
$
309,407
Average interest-earning assets
$
2,164,489
$
4,031,285
$
3,589,066
$
5,575,455
$
2,465,975
$
448,643
$
18,274,913
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage
Banking
Consumer
(Retail) Banking
Commercial and
Corporate
Banking
Treasury and
Investments
United States
Operations
Virgin Islands
Operations
Total
(In thousands)
Nine-Month Period Ended September 30, 2024
Interest income
$
95,351
$
316,764
$
188,275
$
85,069
$
108,227
$
21,739
$
815,425
Net (charge) credit for transfer of funds
(40,611)
209,584
(60,211)
(131,980)
(6,900)
30,118
-
Interest expense
-
(117,343)
(11,845)
(36,107)
(44,935)
(6,983)
(217,213)
Net interest income (loss)
54,740
409,005
116,219
(83,018)
56,392
44,874
598,212
Provision for credit losses - (benefit) expense
(15,273)
70,976
(11,852)
(45)
(4,452)
(337)
39,017
Non-interest income
10,134
72,765
5,072
483
2,711
7,358
98,523
Non-interest expenses:
 
Employees’ compensation and benefits
20,096
103,682
14,509
2,766
21,492
13,498
176,043
 
Occupancy and equipment
4,375
43,920
4,241
571
5,817
6,732
65,656
 
Business promotion
943
8,693
772
568
769
572
12,317
 
Professional fees
5,890
21,070
3,040
991
3,319
3,335
37,645
 
Taxes, other than income taxes
1,323
12,203
1,489
307
388
492
16,202
 
FDIC deposit insurance
1,413
2,636
2,257
-
741
535
7,582
 
Net (gain) loss on OREO operations
(4,376)
-
(2,247)
-
(4)
227
(6,400)
 
Credit and debit processing expenses
-
17,479
582
-
7
2,385
20,453
 
Other non-interest expenses
(1)
2,204
19,930
4,486
1,774
1,998
2,650
33,042
 
Total non-interest expenses
31,868
229,613
29,129
6,977
34,527
30,426
362,540
 
Segment income (loss)
$
48,279
$
181,181
$
104,014
$
(89,467)
$
29,028
$
22,143
$
295,178
Average interest-earning assets
$
2,129,905
$
4,026,020
$
3,496,657
$
5,844,331
$
2,126,742
$
406,252
$
18,029,907
(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 September 30,
Nine-Month Period Ended September 30,
2025
2024
2025
2024
(In thousands)
Average assets:
Total average interest-earning assets for segments
 
$
18,239,229
$
18,036,587
$
18,274,913
$
18,029,907
Average non-interest-earning assets
(1)
 
789,563
846,787
783,834
845,490
 
Total consolidated average assets
$
19,028,792
$
18,883,374
$
19,058,747
$
18,875,397
(1)
Includes,
 
among
 
other
 
things,
 
non-interest-earning
 
cash,
 
premises
 
and
 
equipment,
 
net
 
deferred
 
tax
 
asset,
 
right-of-use
 
(“ROU”)
 
assets,
 
and
 
accrued
 
interest
 
receivable
 
on
 
loans
 
and
investments.