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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]

The following table presents the compensation of our CEO, which is our principal executive officer, and our other NEOs, together with the cumulative shareholder return of the Company and the SNL Bank Index, the Company’s net income and the Company’s tangible book value, which is in our assessment the most important financial performance measure used to link compensation actually paid our NEOs for the most recently completed fiscal year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100 Investment Based On:

 

 

 

 

 

 

 

 

 

Year

 

Summary Compensation Table Total for PEO ($)1

 

 

Compensation Actually Paid to PEO ($)1

 

 

Average Summary Compensation Table Total for Non-PEO NEOs2

 

 

Average Compensation Actually Paid to Non-PEO NEOs2

 

 

Total Shareholder Return

 

 

Peer Group Total Shareholder Return

 

 

Net Income ($000)

 

 

Company Selected Measure: Earnings per Share ($)

 

2022

 

 

3,061,507

 

 

 

3,793,293

 

 

 

1,021,924

 

 

 

1,200,089

 

 

 

124.43

 

 

 

110.58

 

 

 

166,239

 

 

 

3.46

 

2021

 

 

3,020,837

 

 

 

4,864,308

 

 

 

1,029,602

 

 

 

1,960,555

 

 

 

116.76

 

 

 

122.61

 

 

 

146,151

 

 

 

2.85

 

2020

 

 

2,782,700

 

 

 

2,282,078

 

 

 

906,478

 

 

 

788,041

 

 

 

80.19

 

 

 

90.53

 

 

 

74,327

 

 

 

1.32

 

1.

Our CEO, Mr. José R. Fernández, was the PEO in each year.  In 2020, 2021 and 2022, $4,596,069, $3,513,566, and $4,136,940, respectively, were deducted from the Summary Compensation Table Totals, which represent the grant date fair value of the equity awards he received in the corresponding fiscal year, the fair value of unvested equity awards as of the end of the immediately preceding fiscal year, and dividends accrued on performance shares estimated to be payable; and $4,095,447, $5,357,037 and $4,868,726, respectively, were added, which represent the fair value as of the vesting date of awards that vest during the corresponding fiscal year, the fair value as of the end of the corresponding fiscal year of all unvested equity awards, and dividends accrued on performance shares estimated to be payable.

2.

Mr. Ganesh Kumar, Ms. Maritza Arizmendi, and Mr. César Ortiz were Non-PEO NEOs in each year.  Mr. José Cabrera was a Non-PEO NEO in 2020 and 2021, and Mr. Patrick Haggarty was a Non-PEO NEO in 2022.  In 2020, 2021 and 2022, $936,654, $862,298, and $1,045,729, respectively, were the averages deducted from the Summary Compensation Table Totals, which represent the grant date fair value of the equity awards received in the corresponding fiscal year, the fair value of unvested equity awards as of the end of the immediately preceding fiscal year and dividends accrued on performance shares estimated to be payable; and $818,217, $1,793,251 and $1,223,894, respectively, were the averages added, which represent the fair value as of the vesting date of awards that vest during the corresponding fiscal year. the fair value as of the end of the corresponding fiscal year of all unvested equity awards and dividends accrued on performance shares estimated to be payable.

    
Named Executive Officers, Footnote [Text Block] Our CEO, Mr. José R. Fernández, was the PEO in each year.Mr. Ganesh Kumar, Ms. Maritza Arizmendi, and Mr. César Ortiz were Non-PEO NEOs in each year.  Mr. José Cabrera was a Non-PEO NEO in 2020 and 2021, and Mr. Patrick Haggarty was a Non-PEO NEO in 2022.    
PEO Total Compensation Amount $ 3,061,507 $ 3,020,837 $ 2,782,700
PEO Actually Paid Compensation Amount $ 3,793,293 4,864,308 2,282,078
Adjustment To PEO Compensation, Footnote [Text Block] Our CEO, Mr. José R. Fernández, was the PEO in each year.  In 2020, 2021 and 2022, $4,596,069, $3,513,566, and $4,136,940, respectively, were deducted from the Summary Compensation Table Totals, which represent the grant date fair value of the equity awards he received in the corresponding fiscal year, the fair value of unvested equity awards as of the end of the immediately preceding fiscal year, and dividends accrued on performance shares estimated to be payable; and $4,095,447, $5,357,037 and $4,868,726, respectively, were added, which represent the fair value as of the vesting date of awards that vest during the corresponding fiscal year, the fair value as of the end of the corresponding fiscal year of all unvested equity awards, and dividends accrued on performance shares estimated to be payable.    
Non-PEO NEO Average Total Compensation Amount $ 1,021,924 1,029,602 906,478
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,200,089 1,960,555 788,041
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] Mr. Ganesh Kumar, Ms. Maritza Arizmendi, and Mr. César Ortiz were Non-PEO NEOs in each year.  Mr. José Cabrera was a Non-PEO NEO in 2020 and 2021, and Mr. Patrick Haggarty was a Non-PEO NEO in 2022.  In 2020, 2021 and 2022, $936,654, $862,298, and $1,045,729, respectively, were the averages deducted from the Summary Compensation Table Totals, which represent the grant date fair value of the equity awards received in the corresponding fiscal year, the fair value of unvested equity awards as of the end of the immediately preceding fiscal year and dividends accrued on performance shares estimated to be payable; and $818,217, $1,793,251 and $1,223,894, respectively, were the averages added, which represent the fair value as of the vesting date of awards that vest during the corresponding fiscal year. the fair value as of the end of the corresponding fiscal year of all unvested equity awards and dividends accrued on performance shares estimated to be payable.    
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

The following table graphically presents the relationship between executive compensation actually paid by the Company to our CEO and the average compensation actually paid to the NEOs other than our CEO and the of the Company’s cumulative total shareholder return over the past three years.  It also compares our Company’s cumulative total shareholder return with that of our peer group over the same period.

    
Compensation Actually Paid vs. Net Income [Text Block]

The following table graphically presents the relationship between compensation actually paid by the Company to our CEO and the average compensation actually paid to the NEOs other than our CEO and the Company’s net income over the past three years.

    
Compensation Actually Paid vs. Company Selected Measure [Text Block]

The following table graphically presents the relationship between compensation actually paid by the Company to our CEO and the average compensation actually paid to the NEOs other than our CEO and the Company’s earnings per share over the past three years.

    
Tabular List [Table Text Block]

The most important financial performance metrics used by the Company in our most recent fiscal year to link our NEOs compensation to our Company’s performance are earnings per share, tangible book value, average return on assets, market share operating income, and efficiency ratio.

    
Total Shareholder Return Amount $ 124.43 116.76 80.19
Peer Group Total Shareholder Return Amount 110.58 122.61 90.53
Net Income (Loss) $ 166,239,000 $ 146,151,000 $ 74,327,000
Company Selected Measure Amount 3.46 2.85 1.32
PEO Name Mr. José R. Fernández Mr. José R. Fernández Mr. José R. Fernández
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name earnings per share    
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name tangible book value    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name average return on assets    
Measure [Axis]: 4      
Pay vs Performance Disclosure [Table]      
Measure Name market share operating income    
Measure [Axis]: 5      
Pay vs Performance Disclosure [Table]      
Measure Name efficiency ratio    
PEO [Member] | Deduction of Grant Date Fair Value of Equity Awards Received in Corresponding Fiscal Year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 4,136,940 $ 3,513,566 $ 4,596,069
PEO [Member] | Addition of Fair Value of Vesting Date of Awards Vested During Corresponding Fiscal Year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 4,868,726 5,357,037 4,095,447
Non-PEO NEO [Member] | Deduction of Grant Date Fair Value of Equity Awards Received in Corresponding Fiscal Year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,045,729 862,298 936,654
Non-PEO NEO [Member] | Addition of Fair Value of Vesting Date of Awards Vested During Corresponding Fiscal Year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 1,223,894 $ 1,793,251 $ 818,217