Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 03, 2022 | |
Cover [Abstract] | ||
Entity Registrant Name | First BanCorp. | |
Entity Central Index Key | 0001057706 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock Shares Outstanding | 187,986,083 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Trading Symbol | FBP | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Document Transition Report | false | |
Entity File Number | 001-14793 | |
Entity Tax Identification Number | 66-0561882 | |
Entity Address Address Line 1 | 1519 Ponce de León Avenue, Stop 23 | |
Entity Address City Or Town | Santurce | |
Entity Address Country | PR | |
Entity Address Postal Zip Code | 00908 | |
City Area Code | 787 | |
Local Phone Number | 729-8200 | |
Document Quarterly Report | true | |
Security 12b Title | Common Stock ($0.10 par value per share) | |
Security Exchange Name | NYSE | |
Entity Interactive Data Current | Yes | |
Entity Incorporation State Country Code | PR |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 1,261,590 | $ 2,540,376 |
Money market investments: | ||
Time deposits with other financial institutions | 300 | 300 |
Other short-term investments | 1,633 | 2,382 |
Total money market investments | 1,933 | 2,682 |
Available-for-sale debt securities, at fair value: | ||
Securities pledged with creditors' right to repledge | 202,586 | 321,180 |
Other available-for-sale debt securities | 5,878,534 | 6,132,581 |
Total available-for-sale securities, at fair value | 6,081,120 | 6,453,761 |
Held-to-maturity debt securities, at amortized cost, net of ACL of $8,885 as of June 30, 2022 and $8,571 as of December 31, 2021 (fair value 2022 - $453,242; 2021 - $ 167,147)2,3 | 449,342 | 169,562 |
Equity securities | 32,843 | 32,169 |
Loans, net of ACL of $252,152 (2021 - $269,030) | 10,954,722 | 10,791,628 |
Mortgage loans held for sale, at lower of cost or market | 22,601 | 35,155 |
Total loans, net | 10,977,323 | 10,826,783 |
Premises and equipment, net | 145,395 | 146,417 |
Other real estate owned (OREO) | 41,706 | 40,848 |
Accrued interest receivable on loans and investments | 62,501 | 61,507 |
Deferred tax asset, net | 166,999 | 208,482 |
Goodwill | 38,611 | 38,611 |
Intangibles assets | 25,424 | 29,934 |
Other assets | 246,848 | 234,143 |
Total assets | 19,531,635 | 20,785,275 |
LIABILITIES | ||
Non-interest-bearing deposits | 6,286,922 | 7,027,513 |
Interest-bearing deposits | 10,853,206 | 10,757,381 |
Total deposits | 17,140,128 | 17,784,894 |
Securities sold under agreements to repurchase | 200,000 | 300,000 |
Federal Home Loan Bank advances | 200,000 | 200,000 |
Other borrowings | 183,762 | 183,762 |
Accounts payable and other liabilities | 249,829 | 214,852 |
Total liabilities | 17,973,719 | 18,683,508 |
STOCKHOLDERS' EQUITY | ||
Common stock, $0.10 par value, authorized, 2,000,000,000 shares; 223,663,116 shares issued | 22,366 | 22,366 |
Less: Treasury stock (at par value) | (3,203) | (2,183) |
Common stock outstanding, 191,626,336 shares outstanding (2021 - 201,826,505 shares outstanding) | 19,163 | 20,183 |
Additional paid-in capital | 589,175 | 738,288 |
Retained earnings, includes legal surplus reserve of $137,591 | 1,541,334 | 1,427,295 |
Accumulated other comprehensive loss, net of tax of $9,786 | (591,756) | (83,999) |
Total stockholders' equity | 1,557,916 | 2,101,767 |
Total liabilities and stockholders' equity | $ 19,531,635 | $ 20,785,275 |
CONSOLIDATED STATEMENTS OF FI_2
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Condensed Statement Of Financial Condition [Abstract] | ||
Amortized cost | $ 6,669,190 | $ 6,534,503 |
Debt Securities, Available-for-sale, Allowance for Credit Loss | 676 | 1,105 |
Held to Maturity Fair value | 453,242 | 167,147 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 8,885 | 8,571 |
Allowance for credit losses on loans and finance leases | $ 252,152 | $ 269,030 |
Common stock, par value | $ 0.10 | $ 0.1 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common Stock, Shares, Issued | 223,663,116 | 223,663,116 |
Common stock, shares outstanding | 191,626,336 | 201,826,505 |
Income tax expense | $ 9,786 | $ 9,786 |
Legal Surplus Amount | $ 137,591 | $ 137,591 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest and dividend income: | ||||
Loans | $ 179,261 | $ 182,834 | $ 353,048 | $ 362,807 |
Investment securities | 26,491 | 18,192 | 49,738 | 32,512 |
Money market investments and interest-bearing cash accounts | 2,873 | 433 | 3,693 | 782 |
Total interest and dividend income | 208,625 | 201,459 | 406,479 | 396,101 |
Interest expense: | ||||
Deposits | 7,694 | 10,782 | 15,346 | 23,124 |
Securities sold under agreements to repurchase | 1,972 | 2,543 | 4,154 | 4,821 |
Advances from FHLB | 1,075 | 2,066 | 2,138 | 4,529 |
Other borrowings | 1,698 | 1,285 | 3,031 | 2,579 |
Total interest expense | 12,439 | 16,676 | 24,669 | 35,053 |
Net interest income | 196,186 | 184,783 | 381,810 | 361,048 |
Provision for credit losses - expense (benefit): | ||||
Loans and finance leases | 12,665 | (26,302) | (4,324) | (40,745) |
Provision for credit losses - expense (benefit) | 10,003 | (26,155) | (3,799) | (41,407) |
Net interest income after provision for credit losses | 186,183 | 210,938 | 385,609 | 402,455 |
Non-interest income: | ||||
Service charges and fees on deposit accounts | 9,466 | 8,788 | 18,829 | 17,092 |
Mortgage banking activities | 4,082 | 6,404 | 9,288 | 13,677 |
Insurance commission income | 2,946 | 2,215 | 8,221 | 7,456 |
Other non-interest income | 14,447 | 12,477 | 27,461 | 22,615 |
Total non-interest income | 30,941 | 29,884 | 63,799 | 60,840 |
Non-interest expenses: | ||||
Employees' compensation and benefits | 51,304 | 49,714 | 100,858 | 100,556 |
Occupancy and equipment | 21,505 | 24,116 | 43,891 | 48,358 |
Business promotion | 4,042 | 3,225 | 7,505 | 6,195 |
Professional service fees | 12,036 | 16,764 | 22,630 | 34,465 |
Taxes, other than income taxes | 4,689 | 5,576 | 9,707 | 11,775 |
FDIC deposit insurance | 1,466 | 1,922 | 3,139 | 3,910 |
Net (gain) loss on OREO and OREO expenses | (1,485) | (139) | (2,205) | 1,759 |
Credit and debit card processing expenses | 5,843 | 6,795 | 9,964 | 11,073 |
Communications | 1,978 | 2,407 | 4,129 | 4,869 |
Merger and restructuring costs | 0 | 11,047 | 0 | 22,314 |
Other non-interest expenses | 6,948 | 8,745 | 15,367 | 18,199 |
Total non-interest expenses | 108,326 | 130,172 | 214,985 | 263,473 |
Income before income taxes | 108,798 | 110,650 | 234,423 | 199,822 |
Income tax expense | 34,103 | 40,092 | 77,128 | 68,114 |
Net income | 74,695 | 70,558 | 157,295 | 131,708 |
Net income attributable to common stockholders | $ 74,695 | $ 69,889 | $ 157,295 | $ 130,370 |
Net income per common share: | ||||
Basic | $ 0.38 | $ 0.33 | $ 0.80 | $ 0.61 |
Diluted | $ 0.38 | $ 0.33 | $ 0.80 | $ 0.60 |
Debt Securities [Member] | ||||
Provision for credit losses - expense (benefit): | ||||
Other credit losses | $ (3,474) | $ 1,816 | $ (109) | $ 1,713 |
Unfunded Loan Commitment [Member] | ||||
Provision for credit losses - expense (benefit): | ||||
Other credit losses | $ 812 | $ (1,669) | $ 634 | $ (2,375) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS [Abstract] | ||||
Net income | $ 74,695 | $ 70,558 | $ 157,295 | $ 131,708 |
Available-for-sale debt securities: | ||||
Net unrealized holding (losses) gains on debt securities | (175,923) | 28,496 | (507,757) | (70,433) |
Other comprehensive (loss) income for the period, net of tax | (175,923) | 28,496 | (507,757) | (70,433) |
Total comprehensive (loss) income | $ (101,228) | $ 99,054 | $ (350,462) | $ 61,275 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 157,295 | $ 131,708 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 11,291 | 13,206 |
Amortization of intangible assets | 4,510 | 5,829 |
Provision for credit losses - (benefit) | (3,799) | (41,407) |
Deferred income tax expense | 41,483 | 55,549 |
Stock-based compensation | 2,580 | 2,754 |
Unrealized gain on derivative instruments | (864) | (2,340) |
Net (gain) loss on disposals or sales of premises and equipment and other assets | (900) | 87 |
Net gain on sales of loans | (3,965) | (8,405) |
Net amortization/accretion of premiums, discounts, and deferred loan fees and costs | (5,486) | (11,234) |
Originations and purchases of loans held for sale | (143,692) | (274,197) |
Sales and repayments of loans held for sale | 157,098 | 305,331 |
Amortization of broker placement fees | 64 | 128 |
Net amortization of premiums and discounts on investment securities | 1,389 | 16,679 |
(Increase) decrease in accrued interest receivable | (3,555) | 6,197 |
Decrease in accrued interest payable | (1,252) | (1,166) |
(Increase) decrease in other assets | (4,235) | 23,356 |
Increase in other liabilities | 11,646 | 2,451 |
Net cash provided by operating activities | 219,608 | 224,526 |
Cash flows from investing activities: | ||
Net (disbursements) repayments on loans held for investment | (186,902) | 344,493 |
Proceeds from sales of loans held for investment | 37,565 | 23,575 |
Proceeds from sales of repossessed assets | 19,941 | 25,053 |
Purchases of available-for-sale debt securities | (512,327) | (2,676,058) |
Proceeds from principal repayments and maturities of available-for-sale debt securities | 354,853 | 859,179 |
Purchases of held-to-maturity debt securities | (260,082) | 0 |
Proceeds from principal repayments and maturities of held-to-maturity debt securities | 934 | 143 |
Additions to premises and equipment | (11,841) | (8,123) |
Proceeds from sales of premises and equipment and other assets | 1,138 | 249 |
Net purchases of other investment securities | (971) | (138) |
Payment related to previous acquisition | 0 | (3,382) |
Net cash used in investing activities | (557,692) | (1,435,009) |
Cash flows from financing activities: | ||
Net (decrease) increase in deposits | (645,417) | 2,758,873 |
Repayments of long-term borrowings | (100,000) | (120,000) |
Repurchase of outstanding common stock | (152,713) | (101,804) |
Dividends paid on common stock | (43,321) | (30,312) |
Dividends paid on preferred stock | 0 | (1,338) |
Net cash (used in) provided by financing activities | (941,451) | 2,505,419 |
Net (decrease) increase in cash and cash equivalents | (1,279,535) | 1,294,936 |
Cash and cash equivalents at beginning of period | 2,543,058 | 1,493,833 |
Cash and cash equivalents at end of period | 1,263,523 | 2,788,769 |
Cash and cash equivalents include: | ||
Cash and due from banks | 1,261,590 | 2,786,066 |
Money market instruments | 1,933 | 2,703 |
Cash and Cash Equivalents, at Carrying Value, Total | $ 1,263,523 | $ 2,788,769 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income, net of tax [Member] |
Balance at beginning of period at Dec. 31, 2020 | $ 22,303 | $ (480) | $ 946,476 | $ 1,215,321 | $ 55,455 | ||
Common stock issued under stock-based compensation plan | 60 | 0 | (60) | ||||
Common stock repurchases (See Note 14) | (817) | (101,759) | |||||
Stock-based compensation | 2,754 | ||||||
Restricted stock forfeited | (1) | 1 | |||||
Net income | $ 131,708 | 131,708 | |||||
Dividends on common stock | (30,339) | ||||||
Dividends on preferred stock | (1,338) | ||||||
Other comprehensive (loss) income, net of tax | (70,433) | (70,433) | |||||
Balance at end of period at Jun. 30, 2021 | 2,204,955 | $ 36,104 | 22,363 | (1,298) | 847,412 | 1,315,352 | (14,978) |
Balance at beginning of period at Mar. 31, 2021 | 22,363 | (500) | 945,476 | 1,260,456 | (43,474) | ||
Common stock issued under stock-based compensation plan | 0 | 0 | 0 | ||||
Common stock repurchases (See Note 14) | (798) | (99,403) | |||||
Stock-based compensation | 1,339 | ||||||
Restricted stock forfeited | 0 | 0 | |||||
Net income | 70,558 | 70,558 | |||||
Dividends on common stock | (14,993) | ||||||
Dividends on preferred stock | (669) | ||||||
Other comprehensive (loss) income, net of tax | 28,496 | 28,496 | |||||
Balance at end of period at Jun. 30, 2021 | 2,204,955 | 36,104 | 22,363 | (1,298) | 847,412 | 1,315,352 | (14,978) |
Balance at beginning of period at Dec. 31, 2021 | 2,101,767 | 22,366 | (2,183) | 738,288 | 1,427,295 | (83,999) | |
Common stock issued under stock-based compensation plan | 0 | 49 | (49) | ||||
Common stock repurchases (See Note 14) | (1,068) | (151,645) | |||||
Stock-based compensation | 2,580 | ||||||
Restricted stock forfeited | (1) | 1 | |||||
Net income | 157,295 | 157,295 | |||||
Dividends on common stock | (43,256) | ||||||
Dividends on preferred stock | 0 | ||||||
Other comprehensive (loss) income, net of tax | (507,757) | (507,757) | |||||
Balance at end of period at Jun. 30, 2022 | 1,557,916 | 0 | 22,366 | (3,203) | 589,175 | 1,541,334 | (591,756) |
Balance at beginning of period at Mar. 31, 2022 | 22,366 | (2,496) | 687,070 | 1,489,995 | (415,833) | ||
Common stock issued under stock-based compensation plan | 0 | 0 | 0 | ||||
Common stock repurchases (See Note 14) | (706) | (99,294) | |||||
Stock-based compensation | 1,398 | ||||||
Restricted stock forfeited | (1) | 1 | |||||
Net income | 74,695 | 74,695 | |||||
Dividends on common stock | (23,356) | ||||||
Dividends on preferred stock | 0 | ||||||
Other comprehensive (loss) income, net of tax | (175,923) | (175,923) | |||||
Balance at end of period at Jun. 30, 2022 | $ 1,557,916 | $ 0 | $ 22,366 | $ (3,203) | $ 589,175 | $ 1,541,334 | $ (591,756) |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY [Abstract] | ||||
Common Stock Dividends Per Share Declared | $ 0.12 | $ 0.07 | $ 0.22 | $ 0.14 |
BASIS OF PRESENTATION AND SIGNI
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2022 | |
Basis of Presentation and Significant Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Text Block] | NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The Consolidated Financial Statements (unaudited) of First BanCorp. (the “Corporation”) have been prepared in conformity with the accounting policies stated in the Corporation’s Audited Consolidated Financial Statements for the fiscal year ended December 31, 2021 (the “audited consolidated financial statements”) included in the 2021 Annual Report on Form 10-K. Certain information and note disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted from these statements pursuant to the rules and regulations of the SEC and, accordingly, these financial statements should be read in conjunction with the audited consolidated financial statements, which are included in the 2021 Annual Report on Form 10-K. All adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the statement of financial position, results of operations and cash flows for the interim periods have been reflected. All significant intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the quarter and six-month period ended June 30, 2022 are not necessarily indicative of the results to be expected for the entire year. Adoption of New Accounting Requirements The Corporation was not impacted by the adoption of the following Accounting Standards Updates (“ASUs”) during 2022: ASU 2021-05, “Leases (Topic 842): Lessors – Certain Leases with Variable Lease Payments” ASU 2021-04, “Earnings Per Share (Topic 260), Debt – Modifications and Extinguishments (Subtopic 470-50), Compensation – Stock Compensation (Topic 718), and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a Consensus of the Emerging Issues Task Force)” ASU 2020-06, “Debt – Debt with Conversion and other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in an Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” Recently Issued Accounting Standards Not Yet Effective or Not Yet Adopted Standard Description Effective Date Effect on the financial statements ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions” In June 2022, the FASB issued ASU 2022-03 which, among other things, clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account and, therefore, is not considered in measuring fair value; and introduces new disclosure requirements for equity securities subject to contractual sale restrictions. January 1, 2024. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Corporation is evaluating the impact that this ASU will have on its financial statements and disclosures. The Corporation does not expect to be materially impacted by the adoption of this ASU during the first quarter of 2024. ASU 2022-02, “Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” In March 2022, the FASB issued ASU 2022-02 which eliminates the troubled debt restructurings (“TDRs”) recognition and measurement guidance, enhances disclosure requirements for loan restructurings by creditors made to borrowers experiencing financial difficulty for which the terms of the receivables have been modified, and amends the guidance on vintage disclosures to require disclosure of gross write-offs by year of origination. January 1, 2023, unless early adopted in which case the amendments should be applied as of the beginning of the fiscal year that includes the interim period The Corporation is evaluating the impact that this ASU will have on its financial statements and disclosures. The Corporation expects to adopt the amendments of this update during the first quarter of 2023 using a modified retrospective transition method to account for any adjustments to the ACL for loans modified as a TDR prior to the adoption of these amendments. ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method” In March 2022, the FASB issued ASU 2022-01 which, among others, expands the current last-of-layer method to allow multiple hedged layers and the scope of the portfolio layer method to non-prepayable financial assets. January 1, 2023, unless early adopted in which case the amendments should be applied as of the beginning of the fiscal year that includes the interim period The Corporation does not expect to be impacted by the amendments of this update since it does not apply fair value hedge accounting to any of its derivatives. For other recently issued Accounting Standards not yet effective or not yet adopted, see Note 1 – Nature of Business and Summary of Significant Accounting Policies included in the 2021 Annual Report on Form 10-K. |
DEBT SECURITIES
DEBT SECURITIES | 6 Months Ended |
Jun. 30, 2022 | |
Debt Securities [Abstract] | |
DEBT SECURITIES [Text Block] | NOTE 2 – DEBT SECURITIES Available-for-Sale Debt Securities The amortized cost, gross unrealized gains and losses recorded in other comprehensive loss, ACL, estimated fair value, and weighted-average yield of available-for-sale debt securities by contractual maturities as of June 30, 2022 were as follows: June 30, 2022 Amortized cost (1) Gross Unrealized ACL Fair value Weighted- Gains Losses average yield% (Dollars in thousands) U.S. Treasury securities: After 1 to 5 years $ 149,262 $ - $ 7,915 $ - $ 141,347 0.68 U.S. government-sponsored agencies' obligations: After 1 to 5 years 2,352,787 24 152,520 - 2,200,291 0.79 After 5 to 10 years 227,548 65 24,168 - 203,445 0.96 After 10 years 14,184 217 - - 14,401 2.04 Puerto Rico government obligations: After 10 years (2) 3,441 - 246 386 2,809 - United States and Puerto Rico government obligations 2,747,222 306 184,849 386 2,562,293 0.81 Mortgage-backed securities ("MBS"): Freddie Mac (“FHLMC”) certificates: After 1 to 5 years 5,347 1 76 - 5,272 2.33 After 5 to 10 years 203,549 52 9,852 - 193,749 1.44 After 10 years 1,175,621 9 144,500 - 1,031,130 1.33 1,384,517 62 154,428 - 1,230,151 1.35 Ginnie Mae (“GNMA”) certificates: Due within one year 6 - - - 6 1.95 After 1 to 5 years 20,088 130 329 - 19,889 2.04 After 5 to 10 years 42,090 - 2,369 - 39,721 1.07 After 10 years 261,681 1,434 18,926 - 244,189 2.01 323,865 1,564 21,624 - 303,805 1.89 Fannie Mae (“FNMA”) certificates: Due within one year 2,099 - 2 - 2,097 2.41 After 1 to 5 years 15,905 161 44 - 16,022 2.87 After 5 to 10 years 379,705 51 19,210 - 360,546 1.51 After 10 years 1,325,053 591 145,356 - 1,180,288 1.38 1,722,762 803 164,612 - 1,558,953 1.42 Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA ("CMOs"): ` Due within one year 68 - - - 68 2.54 After 1 to 5 years 33,228 3 3,253 - 29,978 1.70 After 10 years 447,341 - 58,840 - 388,501 1.27 480,637 3 62,093 - 418,547 1.30 Private label: After 10 years 9,187 - 2,526 290 6,371 4.42 Total MBS 3,920,968 2,432 405,283 290 3,517,827 1.43 Other Due within one year 1,000 - - - 1,000 0.78 Total available-for-sale debt securities $ 6,669,190 $ 2,738 $ 590,132 $ 676 $ 6,081,120 1.17 (1) Excludes accrued interest receivable. (2) Consists of a residential pass-through MBS issued by the Puerto Rico Housing Finance Authority (“PRHFA”) that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010. During 2021, the Corporation placed this instrument in nonaccrual status based on the delinquency status of the underlying second mortgage loans collateral. The amortized cost, gross unrealized gains and losses recorded in other comprehensive loss, ACL, estimated fair value, and weighted-average yield of available-for-sale debt securities by contractual maturities as of December 31, 2021 were as follows: December 31, 2021 Amortized cost (1) Gross Unrealized ACL Fair value Weighted- Gains Losses average yield% (Dollars in thousands) U.S. Treasury securities: After 1 to 5 years $ 149,660 $ 59 $ 1,233 $ - $ 148,486 0.68 U.S. government-sponsored agencies' obligations: After 1 to 5 years 1,877,181 240 29,555 - 1,847,866 0.60 After 5 to 10 years 403,785 175 10,856 - 393,104 0.90 After 10 years 15,788 224 - - 16,012 0.63 Puerto Rico government obligations: After 10 years (2) 3,574 - 416 308 2,850 - United States and Puerto Rico government obligations 2,449,988 698 42,060 308 2,408,318 0.67 MBS: FHLMC certificates: After 1 to 5 years 2,811 119 - - 2,930 2.65 After 5 to 10 years 193,234 2,419 1,122 - 194,531 1.29 After 10 years 1,240,964 3,748 23,503 - 1,221,209 1.18 1,437,009 6,286 24,625 - 1,418,670 1.20 GNMA certificates: Due within one year 2 - - - 2 1.32 After 1 to 5 years 16,714 572 - - 17,286 2.90 After 5 to 10 years 27,271 80 139 - 27,212 0.51 After 10 years 338,927 7,091 2,174 - 343,844 1.45 382,914 7,743 2,313 - 388,344 1.45 FNMA certificates: Due within one year 4,975 21 - - 4,996 2.03 After 1 to 5 years 21,337 424 - - 21,761 2.87 After 5 to 10 years 298,771 4,387 1,917 - 301,241 1.41 After 10 years 1,389,381 8,953 21,747 - 1,376,587 1.21 1,714,464 13,785 23,664 - 1,704,585 1.27 CMOs After 1 to 5 years 24,007 1 778 - 23,230 1.31 After 5 to 10 years 14,316 97 - - 14,413 0.76 After 10 years 500,811 290 13,134 - 487,967 1.23 539,134 388 13,912 - 525,610 1.22 Private label: After 10 years 9,994 - 1,963 797 7,234 2.21 Total MBS 4,083,515 28,202 66,477 797 4,044,443 1.26 Other Due within one year 500 - - - 500 0.72 After 1 to 5 years 500 - - - 500 0.84 1,000 - - - 1,000 0.78 Total available-for-sale debt securities $ 6,534,503 $ 28,900 $ 108,537 $ 1,105 $ 6,453,761 1.03 (1) Excludes accrued interest receivable. (2) Consists of a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010. During 2021, the Corporation placed this instrument in nonaccrual status based on this delinquency status of the underlying second mortgage loans collateral. Maturities of available-for-sale debt securities are based on the period of final contractual maturity. Expected maturities might differ from contractual maturities because they may be subject to prepayments and/or call options. The weighted-average yield on available-for-sale debt securities is based on amortized cost and, therefore, does not give effect to changes in fair value. The net unrealized gain or loss on available-for-sale debt securities is presented as part of other comprehensive (loss) income. The following tables show the fair value and gross unrealized losses of the Corporation’s available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of June 30, 2022 and December 31, 2021. The tables also include debt securities for which an ACL was recorded. As of June 30, 2022 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (In thousands) Debt securities: U.S. Treasury and U.S. government agenciesʼ obligations $ 1,530,493 $ 89,224 $ 1,005,051 $ 95,379 $ 2,535,544 $ 184,603 Puerto Rico-government obligations - - 2,809 246 (1) 2,809 246 MBS: FHLMC 779,727 83,109 441,983 71,319 1,221,710 154,428 GNMA 184,481 12,334 57,306 9,290 241,787 21,624 FNMA 1,004,966 89,854 508,377 74,758 1,513,343 164,612 CMOs 260,811 36,877 146,590 25,216 407,401 62,093 Private label - - 6,371 2,526 (1) 6,371 2,526 $ 3,760,478 $ 311,398 $ 2,168,487 $ 278,734 $ 5,928,965 $ 590,132 (1) Unrealized losses do not include the credit loss component recorded as part of the ACL. As of June 30, 2022, PRHFA bond and private label MBS had an ACL of $ 0.4 million and $ 0.3 million, respectively. As of December 31, 2021 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (In thousands) Debt securities: U.S. Treasury and U.S. government agenciesʼ obligations $ 1,717,340 $ 25,401 $ 606,179 $ 16,243 $ 2,323,519 $ 41,644 Puerto Rico-government obligations - - 2,850 416 (1) 2,850 416 MBS: FHLMC 986,345 16,144 221,896 8,481 1,208,241 24,625 GNMA 194,271 1,329 41,233 984 235,504 2,313 FNMA 1,237,701 19,843 112,559 3,821 1,350,260 23,664 CMOs 466,004 13,552 16,656 360 482,660 13,912 Private label - - 7,234 1,963 (1) 7,234 1,963 $ 4,601,661 $ 76,269 $ 1,008,607 $ 32,268 $ 5,610,268 $ 108,537 (1) Unrealized losses do not include the credit loss component recorded as part of the ACL. As of December 31, 2021, PRHFA bond and private label MBS had an ACL of $ 0.3 million and $ 0.8 million, respectively. Assessment for Credit Losses Debt securities issued by U.S. government agencies, U.S. government-sponsored entities (“GSEs”) , and the U.S. Treasury, including notes and MBS, accounted for substantially all of the total available-for-sale portfolio as of June 30, 2022, and the Corporation expects no credit losses on these securities, given the explicit and implicit guarantees provided by the U.S. federal government. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Corporation does not have the intent to sell these U.S. government and agencies debt securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Corporation does not consider impairments on these securities to be credit related as of June 30, 2022. The Corporation’s credit loss assessment was concentrated mainly on private label MBS, and on Puerto Rico government debt securities, for which credit losses are evaluated on a quarterly basis. The Corporation’s available-for-sale MBS portfolio included private label MBS with a fair value of $ 6.4 million, which had unrealized losses of approximately $ 2.8 million as of June 30, 2022, of which $ 0.3 million is due to credit deterioration and is part of the ACL. The interest rate on these private-label MBS is variable, tied to 3-month LIBOR, and limited to the weighted-average coupon on the underlying collateral. The underlying collateral is fixed-rate, single-family residential mortgage loans in the United States with original FICO scores over 700 and moderate loan-to-value ratios (under 80%), as well as moderate delinquency levels. As of June 30, 2022, the Corporation did not have the intent to sell these securities and determined that it is likely that it will not be required to sell the securities before anticipated recovery. The Corporation determined the ACL for private label MBS based on a risk-adjusted discounted cash flow methodology that considers the structure and terms of the instruments. The Corporation utilized probability of default (“PDs”) and loss given default (“LGDs”) that considered, among other things, historical payment performance, loan-to-value attributes and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates and the housing price index. Under this approach, expected cash flows (interest and principal) were discounted at the Treasury yield curve as of the reporting date. Significant assumptions in the valuation of the private label MBS were as follows : As of As of June 30, 2022 December 31, 2021 Weighted Range Weighted Range Average Minimum Maximum Average Minimum Maximum Discount rate 15.2% 15.2% 15.2% 12.9% 12.9% 12.9% Prepayment rate 12.7% 3.2% 20.9% 15.2% 7.6% 24.9% Projected Cumulative Loss Rate 5.6% 0.4% 15.8% 7.6% 0.2% 15.7% The Corporation evaluates if a credit loss exists, primarily by monitoring adverse variances in the present value of expected cash flows. As of June 30, 2022, the ACL for these private label MBS was $ 0.3 million, compared to $ 0.8 million as of December 31, 2021. As of June 30, 2022, the Corporation’s available-for-sale debt securities portfolio also included a residential pass-through MBS issued by the PRHFA, collateralized by certain second mortgages, with a fair value of $ 2.8 million, which had an unrealized loss of approximately $ 0.6 million. Approximately $ 0.4 million of the unrealized losses was due to credit deterioration and is part of the ACL. The underlying second mortgage loans were originated under a program launched by the Puerto Rico government in 2010. This residential pass-through MBS was structured as a zero-coupon bond for the first ten years (up to July 2019). The underlying source of repayment on this residential pass-through MBS is second mortgage loans in Puerto Rico. PRHFA, not the Puerto Rico government, provides a guarantee in the event of default and subsequent foreclosure of the properties underlying the second mortgage loans. During 2021, the Corporation placed this instrument in nonaccrual status based on the delinquency status of the underlying second mortgage loans collateral. The Corporation determined the ACL on this instrument based on a discounted cash flow methodology that considered the structure and terms of the debt security. The Corporation utilized PDs and LGDs that considered, among other things, historical payment performance, loan-to-value attributes and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates, the housing price index and expected recovery from the PRHFA guarantee. Under this approach, expected cash flows (interest and principal) were discounted at the Treasury yield curve as of the reporting date and compared to the amortized cost. In the event that the second mortgage loans default and the collateral is insufficient to satisfy the outstanding balance of this residential pass-through MBS, PRHFA’s ability to honor its insurance will depend on, among other factors, the financial condition of PRHFA at the time such obligation becomes due and payable. Further deterioration of the Puerto Rico economy or fiscal health of the PRHFA could impact the value of these securities, resulting in additional losses to the Corporation. As of June 30, 2022, the Corporation did not have the intent to sell this security and determined that it was likely that it will not be required to sell the security before its anticipated recovery. Accrued interest receivable on available-for-sale debt securities totaled $ 11.2 million as of June 30, 2022 ($ 10.1 million as of December 31, 2021) and is excluded from the estimate of credit losses. The following tables present a rollforward by major security type for the quarters and six-month periods ended June 30, 2022 and 2021 of the ACL on available-for-sale debt securities: Quarter Ended June 30, 2022 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ 403 $ 308 $ 711 Provision for credit losses - (benefit) expense ( 113) 78 ( 35) ACL on available-for-sale debt securities $ 290 $ 386 $ 676 Quarter Ended June 30, 2021 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ 875 $ 308 $ 1,183 Net charge-offs ( 17) - ( 17) ACL on available-for-sale debt securities $ 858 $ 308 $ 1,166 Six-Month Period Ended June 30, 2022 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ 797 $ 308 $ 1,105 Provision for credit losses - (benefit) expense ( 501) 78 ( 423) Net charge-offs ( 6) - ( 6) ACL on available-for-sale debt securities $ 290 $ 386 $ 676 Six-Month Period Ended June 30, 2021 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ 1,002 $ 308 $ 1,310 Provision for credit losses - benefit ( 127) - ( 127) Net charge-offs ( 17) - ( 17) ACL on available-for-sale debt securities $ 858 $ 308 $ 1,166 Held-to-Maturity Debt Securities The amortized cost, gross unrecognized gains and losses, estimated fair value, ACL, weighted-average yield and contractual maturities of held-to-maturity debt securities as of June 30, 2022 and December 31, 2021 were as follows: June 30, 2022 Amortized cost (1) Gross Unrecognized Fair value ACL Weighted- average yield% Gains Losses (Dollars in thousands) Puerto Rico municipal bonds: Due within one year $ 595 $ - $ - $ 595 $ 1 5.45 After 1 to 5 years 15,021 658 44 15,635 175 2.98 After 5 to 10 years 93,031 2,457 2,286 93,202 3,411 4.64 After 10 years 69,768 - 4,181 65,587 5,298 4.35 Total Puerto Rico municipal bonds 178,415 3,115 6,511 175,019 8,885 4.39 MBS: FHLMC certificates: After 5 to 10 years $ 24,398 $ 8 $ - $ 24,406 $ - 3.04 After 10 years 20,211 - 84 20,127 - 4.39 44,609 8 84 44,533 - 3.65 GNMA certificates: After 10 years 20,657 - 121 20,536 - 3.38 FNMA certificates: After 10 years 75,530 326 242 75,614 - 2.90 CMOs After 10 years 139,016 - 1,476 137,540 - 3.25 Total MBS 279,812 334 1,923 278,223 - 3.23 Total held-to-maturity debt securities $ 458,227 $ 3,449 $ 8,434 $ 453,242 $ 8,885 3.68 (1) Excludes accrued interest receivable. December 31, 2021 Amortized cost (1) Gross Unrecognized Fair value ACL Weighted- average yield% Gains Losses (Dollars in thousands) Puerto Rico municipal bonds: Due within one year $ 2,995 $ 5 $ - $ 3,000 $ 70 5.39 After 1 to 5 years 14,785 526 156 15,155 347 2.35 After 5 to 10 years 90,584 1,555 3,139 89,000 3,258 4.25 After 10 years 69,769 - 9,777 59,992 4,896 4.06 Total held-to-maturity debt securities $ 178,133 $ 2,086 $ 13,072 $ 167,147 $ 8,571 4.04 (1) Excludes accrued interest receivable. During the second quarter of 2022, the Corporation purchased approximately $ 280.2 million of GSEs’ MBS, which were classified as held-to-maturity debt securities. The following tables show the Corporation’s held-to-maturity debt securities’ fair value and gross unrecognized losses, aggregated by category and length of time that individual securities had been in a continuous unrecognized loss position, as of June 30, 2022 and December 31, 2021, including debt securities for which an ACL was recorded: As of June 30, 2022 Less than 12 months 12 months or more Total Unrecognized Unrecognized Unrecognized Fair Value Losses Fair Value Losses Fair Value Losses (In thousands) Debt securities: Puerto Rico municipal bonds $ - $ - $ 127,321 $ 6,511 $ 127,321 $ 6,511 MBS: FHLMC certificates 20,127 84 - - 20,127 84 GNMA certificates 20,536 121 - - 20,536 121 FNMA certificates 35,037 242 - - 35,037 242 CMOs 137,540 1,476 - - 137,540 1,476 Total held-to-maturity debt securities $ 213,240 $ 1,923 $ 127,321 $ 6,511 $ 340,561 $ 8,434 As of December 31, 2021 Less than 12 months 12 months or more Total Unrecognized Unrecognized Unrecognized Fair Value Losses Fair Value Losses Fair Value Losses (In thousands) Debt securities: Puerto Rico municipal bonds $ - $ - $ 140,732 $ 13,072 $ 140,732 $ 13,072 The Corporation classifies the held-to-maturity debt securities portfolio into the following major security types: MBS issued by GSE’s and Puerto Rico municipal bonds. As of June 30, 2022, all of the MBS included in the held-to-maturity debt securities portfolio were issued by GSE’s. Because the decline in fair value of GSE’s MBS is attributable to changes in interest rates, and not credit quality, and because the Corporation does not have the intent to sell these GSE’s MBS and it is likely that it will not be required to sell the securities before their anticipated recovery, the Corporation does not consider these securities to be other-than-temporarily impaired as of June 30, 2022. In addition, these securities are highly rated by major rating agencies and have a long history of no credit losses. In the case of Puerto Rico municipal bonds, the Corporation determines the ACL based on the product of a cumulative PD and LGD, and the amortized cost basis of the bonds over their remaining expected life as described in Note 1 – Nature of Business and Summary of Significant Accounting Policies in the audited consolidated financial statements included in the 2021 Annual Report on Form 10-K. The Corporation performs periodic credit quality reviews on these issuers. All Puerto Rico municipal bonds were current as to scheduled contractual payments as of June 30, 2022. The Puerto Rico municipal bonds had an ACL of $ 8.9 million as of June 30, 2022, a $ 0.3 million increase from $ 8.6 million as of December 31, 2021, due to the Corporation’s change of applying probability weights to the baseline and alternative downside economic scenarios to estimate the ACL during the first half of 2022. According to the Corporation’s policy, accrued interest receivable on held-to-maturity debt securities that totaled $ 4.2 million as of June 30, 2022 ($ 3.4 million as of December 31, 2021), was excluded from the estimate of credit losses. The following tables present the activity in the ACL for held-to-maturity debt securities by major security type for the quarters and six-month periods ended June 30, 2022 and 2021: Puerto Rico Municipal Bonds Quarter Ended June 30, 2022 Quarter Ended June 30, 2021 (In thousands) Beginning Balance $ 12,324 $ 8,869 Provision for credit losses - (benefit) expense ( 3,439) 1,816 ACL on held-to-maturity debt securities $ 8,885 $ 10,685 Puerto Rico Municipal Bonds Six-Month Period Ended Six-Month Period Ended June 30, 2022 June 30, 2021 (In thousands) Beginning Balance $ 8,571 $ 8,845 Provision for credit losses - expense 314 1,840 ACL on held-to-maturity debt securities $ 8,885 $ 10,685 During the second quarter of 2019, the oversight board established by the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”) announced the designation of Puerto Rico’s 78 municipalities as covered instrumentalities under PROMESA. Municipalities may be affected by the negative economic and other effects resulting from expense, revenue or cash management measures taken by the Puerto Rico government to address its fiscal situation, or measures included in fiscal plans of other government entities, and, more recently, by the effect of the COVID-19 pandemic on the Puerto Rico and global economy. Given the inherent uncertainties about the fiscal situation of the Puerto Rico central government, the COVID-19 pandemic, and the measures taken, or to be taken, by other government entities in response to the COVID-19 pandemic on municipalities, the Corporation cannot be certain whether future charges to the ACL on these securities will be required. From time to time, the Corporation has securities held to maturity with an original maturity of three months or less that are considered cash and cash equivalents and are classified as money market investments in the consolidated statements of financial condition. As of June 30, 2022 and December 31, 2021, the Corporation had no outstanding securities held to maturity that were classified as cash and cash equivalents. Credit Quality Indicators: The held-to-maturity debt securities portfolio consisted of GSE’s MBS and financing arrangements with Puerto Rico municipalities issued in bond form. As previously mentioned, the Corporation expects no credit losses on GSE’s MBS. The Puerto Rico municipal bonds are accounted for as securities, but are underwritten as loans with features that are typically found in commercial loans. Accordingly, the Corporation monitors the credit quality of these securities through the use of internal credit-risk ratings, which are generally updated on a quarterly basis. The Corporation considers a municipal bond as a criticized asset if its risk rating is Special Mention, Substandard, Doubtful or Loss. Puerto Rico municipal bonds that do not meet the criteria for classification as criticized assets are considered to be pass-rated securities. For the definitions of the internal credit-risk ratings, refer to Note 5 – Investment Securities included in the 2021 Annual Report on Form 10-K. The Corporation periodically reviews its Puerto Rico municipal bonds to evaluate if they are properly classified, and to determine impairment, if any. The frequency of these reviews will depend on the amount of the aggregate outstanding debt, and the risk rating classification of the obligor. The Corporation has a Loan Review Group that reports directly to the Corporation’s Risk Management Committee and administratively to the Chief Risk Officer. The Loan Review Group performs annual comprehensive credit process reviews of the Bank’s commercial loan portfolios, including the above-mentioned Puerto Rico municipal bonds accounted for as held-to-maturity debt securities. The objective of these loan reviews is to assess accuracy of the Bank’s determination and maintenance of loan risk rating and its adherence to lending policies, practices and procedures. The monitoring performed by this group contributes to the assessment of compliance with credit policies and underwriting standards, the determination of the current level of credit risk, the evaluation of the effectiveness of the credit management process and the identification of any deficiency that may arise in the credit-granting process. Based on its findings, the Loan Review Group recommends corrective actions, if necessary, that help in maintaining a sound credit process. The Loan Review Group reports the results of the credit process reviews to the Risk Management Committee. As of June 30, 2022 and December 31, 2021, all held-to-maturity debt securities were classified as Pass. No held-to-maturity debt securities were on nonaccrual status, 90 days past due and still accruing, or past due as of June 30, 2022 and December 31, 2021. A security is considered to be past due once it is 30 days contractually past due under the terms of the agreement. |
LOANS HELD FOR INVESTMENT
LOANS HELD FOR INVESTMENT | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
LOAN HELD FOR INVESTMENT [Text Block] | NOTE 3 – LOANS HELD FOR INVESTMENT The following table provides information about the loan portfolio held for investment by portfolio segment and disaggregated by geographic location as of the indicated dates: As of June 30, 2022 As of December 31, 2021 (In thousands) Puerto Rico and Virgin Island region: Residential mortgage loans, mainly secured by first mortgages $ 2,444,532 $ 2,549,573 Construction loans 25,477 43,133 Commercial mortgage loans 1,784,879 1,702,231 Commercial and Industrial ("C&I") loans 1,869,210 1,946,597 Consumer loans 3,093,629 2,872,384 Loans held for investment 9,217,727 9,113,918 Florida region: Residential mortgage loans, mainly secured by first mortgages $ 407,153 $ 429,322 Construction loans 89,833 95,866 Commercial mortgage loans 485,234 465,238 C&I loans 993,707 940,654 Consumer loans 13,220 15,660 Loans held for investment 1,989,147 1,946,740 Total: Residential mortgage loans, mainly secured by first mortgages $ 2,851,685 $ 2,978,895 Construction loans 115,310 138,999 Commercial mortgage loans 2,270,113 2,167,469 C&I loans (1) 2,862,917 2,887,251 Consumer loans 3,106,849 2,888,044 Loans held for investment (2) $ 11,206,874 $ 11,060,658 (1) As of June 30, 2022 and December 31, 2021, includes $ 893.0 million and $ 952.1 million, respectively, of commercial loans that were secured by real estate but were not dependent upon the real estate for repayment. (2) Includes accretable fair value net purchase discounts of $ 32.0 million and $ 35.3 million as of June 30, 2022 and December 31, 2021, respectively. The Corporation’s aging of the loan portfolio held for investment by portfolio classes and nonaccrual loans with no ACL as of June 30, 2022 and December 31, 2021 are as follows: As of June 30, 2022 Days Past Due and Accruing Current 30-59 60-89 90 + (1) (2) (3) Nonaccrual (4) (5) Total loans held for investment Nonaccrual Loans with no ACL (6) (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (1) (3) (7) $ 63,062 $ - $ 2,346 $ 55,752 $ - $ 121,160 $ - Conventional residential mortgage loans (2) (7) 2,633,359 - 30,964 21,614 44,588 2,730,525 3,351 Commercial loans: Construction loans 112,932 - - 3 2,375 115,310 982 Commercial mortgage loans (2) (7) 2,243,330 - 417 1,613 24,753 2,270,113 7,736 C&I loans 2,828,679 4,990 197 11,972 17,079 2,862,917 11,619 Consumer loans: Auto loans 1,668,658 29,884 4,771 - 6,916 1,710,229 2,535 Finance leases 626,352 5,234 1,148 - 1,047 633,781 266 Personal loans 321,892 2,903 1,458 - 893 327,146 - Credit cards 288,774 3,096 2,012 3,407 - 297,289 - Other consumer loans 134,142 1,857 946 - 1,459 138,404 13 Total loans held for investment $ 10,921,180 $ 47,964 $ 44,259 $ 94,361 $ 99,110 $ 11,206,874 $ 26,502 (1) It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $ 35.6 million of residential mortgage loans insured by the FHA that were over 15 months delinquent. (2) Includes purchased credit deteriorated ("PCD") loans previously accounted for under Accounting Standard Codification ("ASC") Subtopic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality" ("ASC Subtopic 310-30") for which the Corporation made the accounting policy election of maintaining pools of loans as “units of account” both at the time of adoption of CECL on January 1, 2020 and on an ongoing basis for credit loss measurement. These loans will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The portion of such loans contractually past due 90 days or more, amounting to $ 15.3 million as of June 30, 2022 ($ 14.3 million conventional residential mortgage loans and $ 1.0 million commercial mortgage loans), is presented in the loans past due 90 days or more and still accruing category in the table above. (3) Include rebooked loans, which were previously pooled into GNMA securities, amounting to $ 10.8 million as of June 30, 2022. Under the GNMA program, the Corporation has the option but not the obligation to repurchase loans that meet GNMA’s specified delinquency criteria. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements with an offsetting liability. (4) Nonaccrual loans in the Florida region amounted to $ 7.1 million as of June 30, 2022. (5) Nonaccrual loans exclude $ 345.4 million of TDR loans that were in compliance with modified terms and in accrual status as of June 30, 2022. (6) Includes $ 0.4 million of nonaccrual C&I loans with no ACL in the Florida region as of June 30, 2022. (7) According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, and commercial mortgage loans past due 30-59 days, but less than two payments in arrears, as of June 30, 2022 amounted to $ 6.7 million, $ 61.6 million, and $ 0.7 million, respectively. As of December 31, 2021 Days Past Due and Accruing Current 30-59 60-89 90+ (1) (2) (3) Nonaccrual (4) (5) Total loans held for investment Nonaccrual Loans with no ACL (6) (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (1) (3) (7) $ 57,522 $ - $ 2,355 $ 65,515 $ - $ 125,392 $ - Conventional residential mortgage loans (2) (7) 2,738,111 - 31,832 28,433 55,127 2,853,503 3,689 Commercial loans: Construction loans 136,317 18 - - 2,664 138,999 1,000 Commercial mortgage loans (2) (7) 2,129,375 2,402 436 9,919 25,337 2,167,469 8,289 C&I loans 2,858,397 2,047 1,845 7,827 17,135 2,887,251 11,393 Consumer loans: Auto loans 1,533,445 26,462 4,949 - 6,684 1,571,540 3,146 Finance leases 568,606 4,820 713 - 866 575,005 196 Personal loans 310,390 3,299 1,285 - 1,208 316,182 - Credit cards 282,179 3,158 1,904 2,985 - 290,226 - Other consumer loans 130,588 1,996 811 - 1,696 135,091 20 Total loans held for investment $ 10,744,930 $ 44,202 $ 46,130 $ 114,679 $ 110,717 $ 11,060,658 $ 27,733 (1) It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $ 46.6 million of residential mortgage loans insured by the FHA that were over 15 months delinquent. (2) Includes PCD loans previously accounted for under ASC Subtopic 310-30 for which the Corporation made the accounting policy election of maintaining pools of loans as “units of account” both at the time of adoption of CECL on January 1, 2020 and on an ongoing basis for credit loss measurement. These loans will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The portion of such loans contractually past due 90 days or more, amounting to $ 20.6 million as of December 31, 2021 ($ 19.1 million conventional residential mortgage loans and $ 1.5 million commercial mortgage loans), is presented in the loans past due 90 days or more and still accruing category in the table above. (3) Include rebooked loans, which were previously pooled into GNMA securities, amounting to $ 7.2 million as of December 31, 2021. Under the GNMA program, the Corporation has the option but not the obligation to repurchase loans that meet GNMA’s specified delinquency criteria. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements with an offsetting liability. (4) Nonaccrual loans in the Florida region amounted to $ 8.2 million as of December 31, 2021. (5) Nonaccrual loans exclude $ 363.4 million of TDR loans that were in compliance with modified terms and in accrual status as of December 31, 2021. (6) Includes $ 0.5 million of nonaccrual C&I loans with no ACL in the Florida region as of December 31, 2021. (7) According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, and commercial mortgage loans past due 30-59 days, but less than two payments in arrears, as of December 31, 2021 amounted to $ 6.1 million, $ 66.0 million, and $ 0.7 million, respectively. When a loan is placed on nonaccrual status, any accrued but uncollected interest income is reversed and charged against interest income and the amortization of any net deferred fees is suspended. The amount of accrued interest reversed against interest income totaled $ 0.3 million and $ 0.7 million for the quarter and six-month period ended June 30, 2022, respectively ($ 0.3 million and $ 1.3 million for the quarter and six-month period ended June 30, 2021, respectively). For the quarter and six-month period ended June 30, 2022, the cash interest recognized on nonaccrual loans amounted to $ 0.3 million and $ 0.7 million, respectively, compared with $ 0.8 million and $ 1.3 million for the quarter and six-month period ended June 30, 2021, respectively. As of June 30, 2022, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $ 84.8 million, including $ 35.1 million of loans insured by the FHA or guaranteed by the VA, and $ 12.1 million of PCD loans acquired prior to the adoption, on January 1, 2020, of CECL. The Corporation commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent, in accordance with the requirements of the Consumer Financial Protection Bureau (“CFPB”). Foreclosure procedures and timelines vary depending on whether the property is located in a judicial or non-judicial state. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediations, bankruptcy, court delays and title issues. Credit Quality Indicators: The Corporation categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes non-homogeneous loans, such as commercial mortgage, commercial and industrial, and construction loans individually to classify the loans’ credit risk. As mentioned above, the Corporation periodically reviews its commercial and construction loans to evaluate if they are properly classified. The frequency of these reviews will depend on the amount of the aggregate outstanding debt, and the risk rating classification of the obligor. In addition, during the renewal and annual review process of applicable credit facilities, the Corporation evaluates the corresponding loan grades. The Corporation uses the same definition for risk ratings as those described for Puerto Rico municipal bonds accounted for as held-to-maturity debt securities, as discussed in Note 5 – Investment Securities, in the 2021 Annual Report on Form 10-K. For residential mortgage and consumer loans, the Corporation also evaluates credit quality based on its interest accrual status. Based on the most recent analysis performed, the amortized cost of commercial and construction loans by portfolio classes and by origination year based on the internal credit-risk category as of June 30, 2022 and the amortized cost of commercial and construction loans by portfolio classes based on the internal credit-risk category as of December 31, 2021 was as follows: As of June 30, 2022 Puerto Rico and Virgin Islands region Term Loans As of December 31, 2021 Amortized Cost Basis by Origination Year (1) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) CONSTRUCTION Risk Ratings: Pass $ 4,741 $ 12,633 $ 962 $ - $ - $ 3,747 $ - $ 22,083 $ 38,066 Criticized: Special Mention - - - 3 - - - 3 765 Substandard - - - - 274 3,117 - 3,391 4,302 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 4,741 $ 12,633 $ 962 $ 3 $ 274 $ 6,864 $ - $ 25,477 $ 43,133 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 206,946 $ 156,607 $ 361,553 $ 236,728 $ 192,126 $ 328,477 $ 13 $ 1,482,450 $ 1,395,569 Criticized: Special Mention 1,345 - 10,426 84,387 31,055 136,282 - 263,495 259,263 Substandard 140 637 - 2,952 768 34,437 - 38,934 47,399 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 208,431 $ 157,244 $ 371,979 $ 324,067 $ 223,949 $ 499,196 $ 13 $ 1,784,879 $ 1,702,231 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 57,862 $ 234,695 $ 196,485 $ 333,737 $ 134,771 $ 271,681 $ 542,321 $ 1,771,552 $ 1,852,552 Criticized: Special Mention 1,037 9,395 1,293 - 239 5,696 16,010 33,670 32,650 Substandard 37 4,138 1,397 14,084 2,015 34,494 7,823 63,988 61,395 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial and industrial loans $ 58,936 $ 248,228 $ 199,175 $ 347,821 $ 137,025 $ 311,871 $ 566,154 $ 1,869,210 $ 1,946,597 (1) Excludes accrued interest receivable. As of June 30, 2022 Term Loans As of December 31, 2021 Florida region Amortized Cost Basis by Origination Year (1) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) CONSTRUCTION Risk Ratings: Pass $ 45,275 $ 44,085 $ - $ 103 $ - $ - $ 370 $ 89,833 $ 95,866 Criticized: Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 45,275 $ 44,085 $ - $ 103 $ - $ - $ 370 $ 89,833 $ 95,866 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 108,137 $ 80,960 $ 43,270 $ 57,206 $ 83,347 $ 73,388 $ 16,955 $ 463,263 $ 404,304 Criticized: Special Mention - - 7,062 13,430 - - - 20,492 60,618 Substandard - - 1,168 - - 311 - 1,479 316 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 108,137 $ 80,960 $ 51,500 $ 70,636 $ 83,347 $ 73,699 $ 16,955 $ 485,234 $ 465,238 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 141,496 $ 188,753 $ 93,852 $ 204,060 $ 56,694 $ 60,919 $ 122,712 $ 868,486 $ 826,823 Criticized: Special Mention - - - 14,682 13,075 12,363 22,162 62,282 49,946 Substandard - - 24,196 33,964 - 4,444 335 62,939 63,885 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial and industrial loans $ 141,496 $ 188,753 $ 118,048 $ 252,706 $ 69,769 $ 77,726 $ 145,209 $ 993,707 $ 940,654 (1) Excludes accrued interest receivable. As of June 30, 2022 Total Term Loans As of December 31, 2021 Amortized Cost Basis by Origination Year (1) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) CONSTRUCTION Risk Ratings: Pass $ 50,016 $ 56,718 $ 962 $ 103 $ - $ 3,747 $ 370 $ 111,916 $ 133,932 Criticized: Special Mention - - - 3 - - - 3 765 Substandard - - - - 274 3,117 - 3,391 4,302 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 50,016 $ 56,718 $ 962 $ 106 $ 274 $ 6,864 $ 370 $ 115,310 $ 138,999 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 315,083 $ 237,567 $ 404,823 $ 293,934 $ 275,473 $ 401,865 $ 16,968 $ 1,945,713 $ 1,799,873 Criticized: Special Mention 1,345 - 17,488 97,817 31,055 136,282 - 283,987 319,881 Substandard 140 637 1,168 2,952 768 34,748 - 40,413 47,715 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 316,568 $ 238,204 $ 423,479 $ 394,703 $ 307,296 $ 572,895 $ 16,968 $ 2,270,113 $ 2,167,469 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 199,358 $ 423,448 $ 290,337 $ 537,797 $ 191,465 $ 332,600 $ 665,033 $ 2,640,038 $ 2,679,375 Criticized: Special Mention 1,037 9,395 1,293 14,682 13,314 18,059 38,172 95,952 82,596 Substandard 37 4,138 25,593 48,048 2,015 38,938 8,158 126,927 125,280 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial and industrial loans $ 200,432 $ 436,981 $ 317,223 $ 600,527 $ 206,794 $ 389,597 $ 711,363 $ 2,862,917 $ 2,887,251 (1) Excludes accrued interest receivable. The following tables present the amortized cost of residential mortgage loans by origination year based on accrual status as of June 30, 2022, and the amortized cost of residential mortgage loans by accrual status as of December 31, 2021: As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Puerto Rico and Virgin Islands Region: FHA/VA government-guaranteed loans Accrual Status: Performing $ - $ 657 $ 871 $ 1,240 $ 2,924 $ 114,736 $ - $ 120,428 $ 124,652 Non-Performing - - - - - - - - - Total FHA/VA government-guaranteed loans $ - $ 657 $ 871 $ 1,240 $ 2,924 $ 114,736 $ - $ 120,428 $ 124,652 Conventional residential mortgage loans: Accrual Status: Performing $ 78,843 $ 78,100 $ 32,608 $ 50,519 $ 78,967 $ 1,966,451 $ - $ 2,285,488 $ 2,376,946 Non-Performing - 35 77 113 279 38,112 - 38,616 47,975 Total conventional residential mortgage loans $ 78,843 $ 78,135 $ 32,685 $ 50,632 $ 79,246 $ 2,004,563 $ - $ 2,324,104 $ 2,424,921 Total: Accrual Status: Performing $ 78,843 $ 78,757 $ 33,479 $ 51,759 $ 81,891 $ 2,081,187 $ - $ 2,405,916 $ 2,501,598 Non-Performing - 35 77 113 279 38,112 - 38,616 47,975 Total residential mortgage loans in Puerto Rico and Virgin Islands Region $ 78,843 $ 78,792 $ 33,556 $ 51,872 $ 82,170 $ 2,119,299 $ - $ 2,444,532 $ 2,549,573 (1) Excludes accrued interest receivable. As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Florida Region: FHA/VA government-guaranteed loans Accrual Status: Performing $ - $ - $ - $ - $ - $ 732 $ - $ 732 $ 740 Non-Performing - - - - - - - - - Total FHA/VA government-guaranteed loans $ - $ - $ - $ - $ - $ 732 $ - $ 732 $ 740 Conventional residential mortgage loans: Accrual Status: Performing $ 35,617 $ 50,948 $ 33,258 $ 34,427 $ 41,198 $ 205,001 $ - $ 400,449 $ 421,430 Non-Performing - - - 281 - 5,691 - 5,972 7,152 Total conventional residential mortgage loans $ 35,617 $ 50,948 $ 33,258 $ 34,708 $ 41,198 $ 210,692 $ - $ 406,421 $ 428,582 Total: Accrual Status: Performing $ 35,617 $ 50,948 $ 33,258 $ 34,427 $ 41,198 $ 205,733 $ - $ 401,181 $ 422,170 Non-Performing - - - 281 - 5,691 - 5,972 7,152 Total residential mortgage loans in Florida region $ 35,617 $ 50,948 $ 33,258 $ 34,708 $ 41,198 $ 211,424 $ - $ 407,153 $ 429,322 (1) Excludes accrued interest receivable. As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Total: FHA/VA government-guaranteed loans Accrual Status: Performing $ - $ 657 $ 871 $ 1,240 $ 2,924 $ 115,468 $ - $ 121,160 $ 125,392 Non-Performing - - - - - - - - - Total FHA/VA government-guaranteed loans $ - $ 657 $ 871 $ 1,240 $ 2,924 $ 115,468 $ - $ 121,160 $ 125,392 Conventional residential mortgage loans: Accrual Status: Performing $ 114,460 $ 129,048 $ 65,866 $ 84,946 $ 120,165 $ 2,171,452 $ - $ 2,685,937 $ 2,798,376 Non-Performing - 35 77 394 279 43,803 - 44,588 55,127 Total conventional residential mortgage loans $ 114,460 $ 129,083 $ 65,943 $ 85,340 $ 120,444 $ 2,215,255 $ - $ 2,730,525 $ 2,853,503 Total: Accrual Status: Performing $ 114,460 $ 129,705 $ 66,737 $ 86,186 $ 123,089 $ 2,286,920 $ - $ 2,807,097 $ 2,923,768 Non-Performing - 35 77 394 279 43,803 - 44,588 55,127 Total residential mortgage loans $ 114,460 $ 129,740 $ 66,814 $ 86,580 $ 123,368 $ 2,330,723 $ - $ 2,851,685 $ 2,978,895 (1) Excludes accrued interest receivable. The following tables present the amortized cost of consumer loans by origination year based on accrual status as of June 30, 2022 and the amortized cost of consumer loans by accrual status as of December 31, 2021: As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Puerto Rico and Virgin Islands Region: Auto loans: Accrual Status: Performing $ 379,265 $ 579,362 $ 298,766 $ 250,492 $ 126,132 $ 63,509 $ - $ 1,697,526 $ 1,556,097 Non-Performing 65 1,170 883 1,810 1,415 1,504 - 6,847 6,684 Total auto loans $ 379,330 $ 580,532 $ 299,649 $ 252,302 $ 127,547 $ 65,013 $ - $ 1,704,373 $ 1,562,781 Finance leases: Accrual Status: Performing $ 140,447 $ 210,366 $ 100,710 $ 96,801 $ 60,908 $ 23,502 $ - $ 632,734 $ 574,139 Non-Performing - 120 166 238 282 241 - 1,047 866 Total finance leases $ 140,447 $ 210,486 $ 100,876 $ 97,039 $ 61,190 $ 23,743 $ - $ 633,781 $ 575,005 Personal loans: Accrual Status: Performing $ 87,793 $ 70,988 $ 39,484 $ 72,802 $ 32,609 $ 22,191 $ - $ 325,867 $ 314,867 Non-Performing 6 157 107 362 145 116 - 893 1,208 Total personal loans $ 87,799 $ 71,145 $ 39,591 $ 73,164 $ 32,754 $ 22,307 $ - $ 326,760 $ 316,075 Credit cards: Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ 297,289 $ 297,289 $ 290,226 Non-Performing - - - - - - - - - Total credit cards $ - $ - $ - $ - $ - $ - $ 297,289 $ 297,289 $ 290,226 Other consumer loans: Accrual Status: Performing $ 44,438 $ 34,988 $ 12,563 $ 17,666 $ 6,089 $ 5,682 $ 8,676 $ 130,102 $ 126,734 Non-Performing 38 256 113 191 36 551 139 1,324 1,563 Total other consumer loans $ 44,476 $ 35,244 $ 12,676 $ 17,857 $ 6,125 $ 6,233 $ 8,815 $ 131,426 $ 128,297 Total: Performing $ 651,943 $ 895,704 $ 451,523 $ 437,761 $ 225,738 $ 114,884 $ 305,965 $ 3,083,518 $ 2,862,063 Non-Performing 109 1,703 1,269 2,601 1,878 2,412 139 10,111 10,321 Total consumer loans in Puerto Rico and Virgin Islands region $ 652,052 $ 897,407 $ 452,792 $ 440,362 $ 227,616 $ 117,296 $ 306,104 $ 3,093,629 $ 2,872,384 (1) Excludes accrued interest receivable. As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Florida Region: Auto loans: Accrual Status: Performing $ - $ - $ - $ 444 $ 3,358 $ 1,985 $ - $ 5,787 $ 8,759 Non-Performing - - - 7 48 14 - 69 - Total auto loans $ - $ - $ - $ 451 $ 3,406 $ 1,999 $ - $ 5,856 $ 8,759 Finance leases: Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ - $ - $ - Non-Performing - - - - - - - - - Total finance leases $ - $ - $ - $ - $ - $ - $ - $ - $ - Personal loans: Accrual Status: Performing $ 298 $ 72 $ 16 $ - $ - $ - $ - $ 386 $ 107 Non-Performing - - - - - - - - - Total personal loans $ 298 $ 72 $ 16 $ - $ - $ - $ - $ 386 $ 107 Credit cards: Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ - $ - $ - Non-Performing - - - - - - - - - Total credit cards $ - $ - $ - $ - $ - $ - $ - $ - $ - Other consumer loans: Accrual Status: Performing $ 50 $ 234 $ 473 $ - $ 40 $ 3,032 $ 3,014 $ 6,843 $ 6,661 Non-Performing - - - - - 23 112 135 133 Total other consumer loans $ 50 $ 234 $ 473 $ - $ 40 $ 3,055 $ 3,126 $ 6,978 $ 6,794 Total: Performing $ 348 $ 306 $ 489 $ 444 $ 3,398 $ 5,017 $ 3,014 $ 13,016 $ 15,527 Non-Performing - - - 7 48 37 112 204 133 Total consumer loans in Florida region $ 348 $ 306 $ 489 $ 451 $ 3,446 $ 5,054 $ 3,126 $ 13,220 $ 15,660 (1) Excludes accrued interest receivable. As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Total: Auto loans: Accrual Status: Performing $ 379,265 $ 579,362 $ 298,766 $ 250,936 $ 129,490 $ 65,494 $ - $ 1,703,313 $ 1,564,856 Non-Performing 65 1,170 883 1,817 1,463 1,518 - 6,916 6,684 Total auto loans $ 379,330 $ 580,532 $ 299,649 $ 252,753 $ 130,953 $ 67,012 $ - $ 1,710,229 $ 1,571,540 Finance leases: Accrual Status: Performing $ 140,447 $ 210,366 $ 100,710 $ 96,801 $ 60,908 $ 23,502 $ - $ 632,734 $ 574,139 Non-Performing - 120 166 238 282 241 - 1,047 866 Total finance leases $ 140,447 $ 210,486 $ 100,876 $ 97,039 $ 61,190 $ 23,743 $ - $ 633,781 $ 575,005 Personal loans: Accrual Status: Performing $ 88,091 $ 71,060 $ 39,500 $ 72,802 $ 32,609 $ 22,191 $ - $ 326,253 $ 314,974 Non-Performing 6 157 107 362 145 116 - 893 1,208 Total personal loans $ 88,097 $ 71,217 $ 39,607 $ 73,164 $ 32,754 $ 22,307 $ - $ 327,146 $ 316,182 Credit cards: Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ 297,289 $ 297,289 $ 290,226 Non-Performing - - - - - - - - - Total credit cards $ - $ - $ - $ - $ - $ - $ 297,289 $ 297,289 $ 290,226 Other consumer loans: Accrual Status: Performing $ 44,488 $ 35,222 $ 13,036 $ 17,666 $ 6,129 $ 8,714 $ 11,690 $ 136,945 $ 133,395 Non-Performing 38 256 113 191 36 574 251 1,459 1,696 Total other consumer loans $ 44,526 $ 35,478 $ 13,149 $ 17,857 $ 6,165 $ 9,288 $ 11,941 $ 138,404 $ 135,091 Total: Performing $ 652,291 $ 896,010 $ 452,012 $ 438,205 $ 229,136 $ 119,901 $ 308,979 $ 3,096,534 $ 2,877,590 Non-Performing 109 1,703 1,269 2,608 1,926 2,449 251 10,315 10,454 Total consumer loans $ 652,400 $ 897,713 $ 453,281 $ 440,813 $ 231,062 $ 122,350 $ 309,230 $ 3,106,849 $ 2,888,044 (1) Excludes accrued interest receivable. Accrued interest receivable on loans totaled $ 47.1 million as of June 30, 2022 ($ 48.1 million as of December 31, 2021 ), was reported as part of accrued interest receivable on loans and investment securities in the consolidated statements of financial condition and is excluded from the estimate of credit losses. The following tables present information about collateral dependent loans that were individually evaluated for purposes of determining the ACL as of June 30, 2022 and December 31, 2021: June 30, 2022 Collateral Dependent Loans - With Allowance Collateral Dependent Loans - With No Related Allowance Collateral Dependent Loans - Total Amortized Cost Related Allowance Amortized Cost Amortized Cost Related Allowance (In thousands) Residential mortgage loans: FHA/VA government-guaranteed loans $ - $ - $ - $ - $ - Conventional residential mortgage loans 41,823 3,122 818 42,641 3,122 Commercial loans: Construction loans - - 1,230 1,230 - Commercial mortgage loans 11,748 1,707 54,807 66,555 1,707 C&I loans 17,937 3,029 20,791 38,728 3,029 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans 57 1 - 57 1 Credit cards - - - - - Other consumer loans 568 75 - 568 75 $ 72,133 $ 7,934 $ 77,646 $ 149,779 $ 7,934 December 31, 2021 Collateral Dependent Loans - With Allowance Collateral Dependent Loans - With No Related Allowance Collateral Dependent Loans - Total Amortized Cost Related Allowance Amortized Cost Amortized Cost Related Allowance (In thousands) Residential mortgage loans: FHA/VA government-guaranteed loans $ - $ - $ - $ - $ - Conventional residential mortgage loans 51,771 3,966 781 52,552 3,966 Commercial loans: Construction loans - - 1,797 1,797 - Commercial mortgage loans 9,908 1,152 56,361 66,269 1,152 C&I loans 5,781 670 34,043 39,824 670 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans 78 1 - 78 1 Credit cards - - - - - Other consumer loans 782 98 - 782 98 $ 68,320 $ 5,887 $ 92,982 $ 161,302 $ 5,887 The allowance related to collateral dependent loans reported in the tables above includes qualitative adjustments applied to the loan portfolio that consider possible changes in circumstances that could ultimately impact credit losses and might not be reflected in historical data or forecasted data incorporated in the quantitative models. The underlying collateral for residential mortgage and consumer collateral dependent loans consisted of single-family residential properties, and for commercial and construction loans consisted primarily of office buildings, multifamily residential properties, and retail establishments. The weighted-average loan-to-value coverage for collateral dependent loans as of June 30, 2022 was 79%, compared to 78% as of December 31, 2021 . There were no significant changes in the extent to which collateral secured the Corporation’s collateral dependent financial assets during the second quarter and first six months of 2022 . Purchases and Sales of Loans During the first six months of 2022, the Corporation transferred $ 79.7 million in residential mortgage loans to GNMA, which packaged the loans into MBS for sale in the secondary market, compared to $ 105.9 million for the same period in 2021. Also, during the first six months of 2022, the Corporation sold approximately $ 78.4 million of performing residential mortgage loans to FNMA and FHLMC, compared to sales of $ 191.4 million during the first six months of 2021. The Corporation’s continuing involvement with the loans that it sells consists primarily of servicing the loans. In addition, the Corporation agrees to repurchase loans if it breaches any of the representations and warranties included in the sale agreement. These representations and warranties are consistent with the GSEs’ selling and servicing guidelines ( i.e. , ensuring that the mortgage was properly underwritten according to established guidelines). For loans pooled into GNMA MBS, the Corporation, as servicer, holds an option to repurchase individual delinquent loans issued on or after January 1, 2003 when certain delinquency criteria are met. This option gives the Corporation the unilateral ability, but not the obligation, to repurchase the delinquent loans at par without prior authorization from GNMA. Since the Corporation is considered to have regained effective control over the loans, it is required to recognize the loans and a corresponding repurchase liability regardless of its intent to repurchase the loans. As of June 30, 2022 and December 31, 2021 , rebooked GNMA delinquent loans that were included in the residential mortgage loan portfolio amounted to $ 10.8 million and $ 7.2 million, respectively. During the first six months of 2022 and 2021, the Corporation repurchased, pursuant to the aforementioned repurchase option, $ 6.2 million and $ 0.3 million, respectively, of loans previously pooled into GNMA MBS. The principal balance of these loans is fully guaranteed, and the risk of loss related to the repurchased loans is generally limited to the difference between the delinquent interest payment advanced to GNMA, which is computed at the loan’s interest rate, and the interest payments reimbursed by FHA, which are computed at a pre-determined debenture rate. Repurchases of GNMA loans allow the Corporation, among other things, to maintain acceptable delinquency rates on outstanding GNMA pools and remain as a seller and servicer in good standing with GNMA. Loan sales to FNMA and FHLMC are without recourse in relation to the future performance of the loans. The Corporation repurchased at par loans previously sold to FNMA and FHLMC in the amount of $ 0.2 million and $ 0.3 million during the first six months of 2022 and 2021, respectively. The Corporation’s risk of loss with respect to these loans is also minimal as these repurchased loans are generally performing loans with documentation deficiencies. During the first six months of 2021, two criticized commercial loan participations totaling $ 24.0 million were sold. In addition, during the first six months of 2022 and 2021, the Corporation purchased commercial and industrial loans participations in the Florida region totaling $ 76.4 million and $ 50.0 million, respectively. Loan Portfolio Concentration The Corporation’s primary |
ALLOWANCE FOR CREDIT LOSSES ON
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES | 6 Months Ended |
Jun. 30, 2022 | |
Allowance for Credit Loss [Abstract] | |
Allowance For Credit Losses [Text Block] | NOTE 4 – ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND FINANCE LEASES The following table presents the activity in the ACL for loans and finance leases by portfolio segment for the indicated periods: Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Quarter Ended June 30, 2022 (In thousands) ACL: Beginning balance $ 68,820 $ 1,842 $ 30,138 $ 36,784 $ 107,863 $ 245,447 Provision for credit losses - (benefit) expense ( 2,797) 151 1,265 ( 1,102) 15,148 12,665 Charge-offs ( 2,079) ( 16) ( 2) ( 68) ( 10,427) ( 12,592) Recoveries 1,287 43 1,218 589 3,495 6,632 Ending balance $ 65,231 $ 2,020 $ 32,619 $ 36,203 $ 116,079 $ 252,152 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Six-Month Period Ended June 30, 2022 (In thousands) ACL: Beginning balance $ 74,837 $ 4,048 $ 52,771 $ 34,284 $ 103,090 $ 269,030 Provision for credit losses - (benefit) expense ( 7,668) ( 2,063) ( 21,375) 653 26,129 ( 4,324) Charge-offs ( 4,607) ( 60) ( 39) ( 358) ( 20,243) ( 25,307) Recoveries 2,669 95 1,262 1,624 7,103 12,753 Ending balance $ 65,231 $ 2,020 $ 32,619 $ 36,203 $ 116,079 $ 252,152 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial & Industrial Loans Consumer Loans Total Quarter Ended June 30, 2021 (In thousands) ACL: Beginning balance $ 114,044 $ 4,915 $ 99,782 $ 32,087 $ 108,108 $ 358,936 Provision for credit losses - expense (benefit) 825 ( 196) ( 27,299) ( 426) 794 ( 26,302) Charge-offs ( 2,927) - ( 81) ( 60) ( 14,798) ( 17,866) Recoveries 940 38 50 5,869 3,293 10,190 Ending balance $ 112,882 $ 4,757 $ 72,452 $ 37,470 $ 97,397 $ 324,958 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial & Industrial Loans Consumer Loans Total Six-Month Period Ended June 30, 2021 (In thousands) ACL: Beginning balance $ 120,311 $ 5,380 $ 109,342 $ 37,944 $ 112,910 $ 385,887 Provision for credit losses - (benefit) expense ( 3,350) ( 652) ( 36,119) ( 5,738) 5,114 ( 40,745) Charge-offs ( 5,752) ( 45) ( 875) ( 869) ( 26,559) ( 34,100) Recoveries 1,673 74 104 6,133 5,932 13,916 Ending balance $ 112,882 $ 4,757 $ 72,452 $ 37,470 $ 97,397 $ 324,958 The Corporation estimates the ACL following the methodologies described in Note 1 – Nature of Business and Summary of Significant Accounting Policies, in the audited consolidated financial statements included in the 2021 Annual Report on Form 10-K, for each portfolio segment. During the first half of 2022, the Corporation applied probability weights to the baseline and alternative downside economic scenarios to estimate the ACL with the baseline scenario carrying the highest weight. In weighting these macroeconomic scenarios, the Corporation applied judgment based on a variety of factors such as economic uncertainties including a prolonged conflict in Ukraine, adverse conditions created by disruptions in the supply chain and the overall inflationary environment. For periods prior to 2022, the Corporation calculated the ACL using the baseline scenario. As of June 30, 2022, the ACL for loans and finance leases was $ 252.1 16.9 million from December 31, 2021. The ACL reduction for commercial and construction loans was $ 20.3 million during the first six months of 2022, primarily reflecting reductions in qualitative reserves associated with a positive long-term outlook of forecasted macroeconomic variables, primarily in the commercial real estate price index, as a result of a reduced impact of the Omicron variant. In addition, there was an ACL reduction of $ 9.6 million for residential mortgage loans, partially offset by a $ 13.0 million increase in the ACL for consumer loans. The net reduction for residential mortgage loans was primarily driven by the overall decrease in the size of this portfolio. The ACL increase for consumer loans consisted of charges to the provision of $ 26.1 million recorded in the first six months of 2022 to account for the increase in the size of the portfolio of auto loans and finance leases and, to a lower extent, an increase in cumulative historical charge-off levels mostly related to the personal and credit card loan portfolio, partially offset by net charge-offs of $ 13.1 million. For those loans where the ACL was determined based on a discounted cash flow model, the change in the ACL due to the passage of time is recorded as part of the provision for credit losses. Total net charge-offs decreased by $ 1.7 million to $ 6.0 million, when compared to the second quarter of 2021. The variance consisted of a $ 4.6 million decrease in net charge-offs of consumer and finance leases, primarily reflected in the auto and personal loan portfolios, and a $ 1.2 million decrease in net charge-offs of residential mortgage loans, partially offset by lower net recoveries in the commercial and construction loans portfolio by $ 4.1 million. Total net charge-offs decreased by $ 7.6 million to $ 12.6 million, when compared to the six-month period ended June 30, 2021. The variance consisted of a $ 7.5 million decrease in net charge-offs of consumer and finance leases, primarily reflected in the auto and personal loan portfolios, and a $ 2.1 million decrease in net charge-offs of residential mortgage loans, partially offset by lower net recoveries in the commercial and construction loans portfolio by $ 2.0 million. The tables below present the ACL related to loans and finance leases and the carrying value of loans by portfolio segment as of June 30, 2022 and December 31, 2021: Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial and Industrial Loans (1) Consumer Loans Total As of June 30, 2022 (Dollars in thousands) Total loans held for investment: Amortized cost of loans $ 2,851,685 $ 115,310 $ 2,270,113 $ 2,862,917 $ 3,106,849 $ 11,206,874 Allowance for credit losses 65,231 2,020 32,619 36,203 116,079 252,152 Allowance for credit losses to amortized cost 2.29 % 1.75 % 1.44 % 1.26 % 3.74 % 2.25 % As of December 31, 2021 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial and Industrial Loans (1) Consumer Loans Total (Dollars in thousands) Total loans held for investment: Amortized cost of loans $ 2,978,895 $ 138,999 $ 2,167,469 $ 2,887,251 $ 2,888,044 11,060,658 Allowance for credit losses 74,837 4,048 52,771 34,284 103,090 269,030 Allowance for credit losses to amortized cost 2.51 % 2.91 % 2.43 % 1.19 % 3.57 % 2.43 % (1) As of June 30, 2022 and December 31, 2021, includes $ 49.4 million and $ 145.0 million of SBA PPP loans, respectively, which require no ACL as these loans are 100% guaranteed by the SBA. In addition, the Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, such as unfunded loan commitments and standby letters of credit for commercial and construction loans, unless the obligation is unconditionally cancellable by the Corporation. The Corporation estimates the ACL for these off-balance sheet exposures following the methodology described in Note 1 – Nature of Business and Summary of Significant Accounting Policies, in the audited consolidated financial statements, which are included in the 2021 Annual Report on Form 10-K. As of June 30, 2022, the ACL for off-balance sheet credit exposures was $ 2.2 million, up $ 0.7 1.5 million as of December 31, 2021. The following table presents the activity in the ACL for unfunded loan commitments and standby letters of credit for the quarters and six-month periods ended June 30, 2022 and 2021: Quarter Ended Six-Month Period Ended June 30, June 30, 2022 2021 2022 2021 (In thousands) Beginning Balance $ 1,359 $ 4,399 $ 1,537 $ 5,105 Provision for credit losses - expense (benefit) 812 ( 1,669) 634 ( 2,375) Ending balance $ 2,171 $ 2,730 $ 2,171 $ 2,730 |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 6 Months Ended |
Jun. 30, 2022 | |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | |
Other Real Estate Owned [Text Block] | NOTE 5 – OTHER REAL ESTATE OWNED The following table presents the OREO inventory as of the indicated dates: June 30, December 31, 2022 2021 (In thousands) OREO OREO balances, carrying value: Residential (1) $ 31,780 $ 29,533 Commercial 7,269 7,331 Construction 2,657 3,984 Total $ 41,706 $ 40,848 (1) Excludes $ 25.7 million and $ 22.2 million as of June 30, 2022 and December 31, 2021, respectively, of foreclosures that meet the conditions of ASC Subtopic 310-40 "Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure," and are presented as a receivable as part of other assets in the consolidated statements of financial condition. |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill and other Intangible Assets [Abstract] | |
GOODWILL AND OTHER INTANGIBLES [Text Block] | NOTE 6 – GOODWILL AND OTHER INTANGIBLES Goodwill as of each of June 30, 2022 and December 31, 2021 amounted to $ 38.6 million. The Corporation’s policy is to assess goodwill and other intangibles for impairment on an annual basis during the fourth quarter of each year, and more frequently if events or circumstances lead management to believe that the values of goodwill or other intangibles may be impaired. During the fourth quarter of 2021, as part of its annual evaluation, the Corporation performed a qualitative assessment to determine if a goodwill impairment test was necessary. This assessment involved identifying the inputs and assumptions that most affect fair value, including evaluating significant and relevant events impacting each reporting entity, and evaluating such factors to determine if a positive assertion can be made that it is more likely than not that the fair value of each reporting unit is greater than its carrying amount. As of December 31, 2021, the Corporation concluded that it is more-likely-than-not that the fair value of the reporting units exceeded their carrying value. The Corporation determined that there have been no significant events since the last annual assessment that could indicate potential goodwill impairment on reporting units for which the goodwill is allocated. As a result, no impairment charges for goodwill were recorded during the first six months of 2022. There were no changes in the carrying amount of goodwill during the quarter and six-month period ended June 30, 2022. The changes in the carrying amount of goodwill attributable to operating segments during 2020 and the six-month period ended June 30, 2021 are reflected in the following table: Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking United States Operations Total (In thousands) Goodwill, January 1, 2020 $ - $ 1,406 $ - $ 26,692 $ 28,098 Merger and acquisitions (1) 574 794 4,935 - 6,303 Measurement period adjustment (1) 385 533 3,313 - 4,231 Goodwill, December 31, 2020 $ 959 $ 2,733 $ 8,248 $ 26,692 $ 38,632 Measurement period adjustment (2) 53 74 ( 148) - ( 21) Goodwill, June 30, 2021 $ 1,012 $ 2,807 $ 8,100 $ 26,692 $ 38,611 (1) Recognized in connection with the BSPR acquisition on September 1, 2020. Refer to Note 2 - Business Combination included in the 2021 Annual Report on Form 10-K for additional information. (2) Relates to the fair value estimate update performed within one year of the closing of the BSPR acquisition, in accordance with ASC Topic 805, "Business Combinations"("ASC 805"). The following table shows the gross amount and accumulated amortization of the Corporation’s intangible assets subject to amortization as of the indicated dates: As of As of June 30, December 31, 2022 2021 (Dollars in thousands) Core deposit intangible: Gross amount $ 87,544 $ 87,544 Accumulated amortization ( 62,808) ( 58,973) Net carrying amount $ 24,736 $ 28,571 Remaining amortization period (in years) 7.5 8.0 Purchased credit card relationship intangible: Gross amount $ 3,800 $ 3,800 Accumulated amortization ( 3,201) ( 2,602) Net carrying amount $ 599 $ 1,198 Remaining amortization period (in years) 1.2 1.7 Insurance customer relationship intangible: Gross amount $ 1,067 $ 1,067 Accumulated amortization ( 978) ( 902) Net carrying amount $ 89 $ 165 Remaining amortization period (in years) 0.6 1.1 During the quarter and six-month period ended June 30, 2022, the Corporation recognized $ 2.2 million and $ 4.5 million, respectively, in amortization expense on its other intangibles subject to amortization, compared to $ 2.8 million and $ 5.8 million for the same periods in 2021, respectively. The Corporation amortizes core deposit intangibles and customer relationship intangibles based on the projected useful lives of the related deposits in the case of core deposit intangibles, and over the projected useful lives of the related client relationships in the case of customer relationship intangibles. As mentioned above, the Corporation analyzes core deposit intangibles and customer relationship intangibles annually for impairment, or sooner if events and circumstances indicate possible impairment. Factors that may suggest impairment include customer attrition and run-off. Management is unaware of any events and/or circumstances that would indicate a possible impairment to the core deposit intangibles or customer relationship intangibles as of June 30, 2022. The estimated aggregate annual amortization expense related to the intangible assets subject to amortization for future periods was as follows as of June 30, 2022: Amount (In thousands) 2022 $ 4,305 2023 7,736 2024 6,416 2025 3,509 2026 872 2027 and after 2,586 |
NON-CONSOLIDATED VARIABLE INTER
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS | 6 Months Ended |
Jun. 30, 2022 | |
Transfers and Servicing [Abstract] | |
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS [Text Block] | NOTE 7 – NON CONSOLIDATED VARIABLE INTEREST ENTITIES (“VIE”) AND SERVICING ASSETS The Corporation transfers residential mortgage loans in sale or securitization transactions in which it has continuing involvement, including servicing responsibilities and guarantee arrangements. All such transfers have been accounted for as sales as required by applicable accounting guidance. When evaluating the need to consolidate counterparties to which the Corporation has transferred assets, or with which the Corporation has entered into other transactions, the Corporation first determines if the counterparty is an entity for which a variable interest exists. If no scope exception is applicable and a variable interest exists, the Corporation then evaluates whether it is the primary beneficiary of the VIE and whether the entity should be consolidated or not. Below is a summary of transactions with VIEs for which the Corporation has retained some level of continuing involvement: Trust-Preferred Securities In April 2004, FBP Statutory Trust I, a financing trust that is wholly owned by the Corporation, sold to institutional investors $ 100 million of its variable-rate trust-preferred securities (“TRuPs”). FBP Statutory Trust I used the proceeds of the issuance, together with the proceeds of the purchase by the Corporation of $ 3.1 million of FBP Statutory Trust I variable-rate common securities, to purchase $ 103.1 million aggregate principal amount of the Corporation’s Junior Subordinated Deferrable Debentures. In September 2004, FBP Statutory Trust II, a financing trust that is wholly owned by the Corporation, sold to institutional investors $ 125 million of its variable-rate TRuPs. FBP Statutory Trust II used the proceeds of the issuance, together with the proceeds of the purchase by the Corporation of $ 3.9 million of FBP Statutory Trust II variable-rate common securities, to purchase $ 128.9 million aggregate principal amount of the Corporation’s Junior Subordinated Deferrable Debentures. The debentures, net of related issuance costs, are presented in the Corporation’s consolidated statements of financial condition as other borrowings. The variable-rate TRuPs are fully and unconditionally guaranteed by the Corporation. The Junior Subordinated Deferrable Debentures mature on June 17, 2034 and September 20, 2034, respectively; however, under certain circumstances, the maturity of Junior Subordinated Deferrable Debentures may be shortened (such shortening would result in a mandatory redemption of the variable-rate TRuPs). As of each of June 30, 2022 and December 31, 2021, these Junior Subordinated Deferrable Debentures amounted to $ 183.8 million. The Collins Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act eliminated certain TRuPs from Tier 1 Capital; however, these instruments may remain in Tier 2 capital until the instruments are redeemed or mature. Under the indentures, the Corporation has the right, from time to time, and without causing an event of default, to defer payments of interest on the Junior Subordinated Deferrable Debentures by extending the interest payment period at any time and from time to time during the term of the subordinated debentures for up to twenty consecutive quarterly periods. As of June 30, 2022, the Corporation was current on all interest payments due on its subordinated debt. Private Label MBS During 2004 and 2005, an unaffiliated party, referred to in this subsection as the seller, established a series of statutory trusts to effect the securitization of mortgage loans and the sale of trust certificates (“private label MBS”). The seller initially provided the servicing for a fee, which is senior to the obligations to pay private label MBS holders. The seller then entered into a sales agreement through which it sold and issued the private label MBS in favor of the Corporation’s banking subsidiary, FirstBank. Currently, the Bank is the sole owner of the private label MBS; the servicing of the underlying residential mortgages that generate the principal and interest cash flows is performed by another third party, which receives a servicing fee. These private label MBS are variable-rate securities indexed to 3-month LIBOR plus a spread. The principal payments from the underlying loans are remitted to a paying agent (servicer), who then remits interest to the Bank. Interest income is shared to a certain extent with the FDIC, which has an interest only strip (“IO”) tied to the cash flows of the underlying loans and is entitled to receive the excess of the interest income less a servicing fee over the variable rate income that the Bank earns on the securities. This IO is limited to the weighted-average coupon on the mortgage loans. The FDIC became the owner of the IO upon its intervention of the seller, a failed financial institution. No recourse agreement exists, and the Bank, as the sole holder of the securities, absorbs all risks from losses on non-accruing loans and repossessed collateral. As of June 30, 2022, the amortized cost and fair value of these private label MBS amounted to $ 9.2 million and $ 6.4 million, respectively, with a weighted average yield of 4.42%, which is included as part of the Corporation’s available-for-sale debt securities portfolio. As described in Note 2 – Debt Securities, above, the ACL on these private label MBS amounted to $ 0.3 million as of June 30, 2022. Investment in unconsolidated entity On February 16, 2011, FirstBank sold an asset portfolio consisting of performing and nonaccrual construction, commercial mortgage and commercial and industrial loans with an aggregate book value of $ 269.3 million to CPG/GS, an entity organized under the laws of the Commonwealth of Puerto Rico and majority owned by PRLP Ventures LLC (“PRLP”), a company created by Goldman, Sachs & Co. and Caribbean Property Group. In connection with the sale, the Corporation received $ 88.5 million in cash and a 35% interest in CPG/GS, and made a loan in the amount of $ 136.1 million representing seller financing provided by FirstBank. The loan was refinanced and consolidated with other outstanding loans of CPG/GS in the second quarter of 2018 and was paid in full in October 2019. FirstBank’s equity interest in CPG/GS is accounted for under the equity method. FirstBank recorded a loss on its interest in CPG/GS in 2014 that reduced to zero the carrying amount of the Bank’s investment in CPG/GS. No negative investment needs to be reported as the Bank has no legal obligation or commitment to provide further financial support to this entity; thus, no further losses have been or will be recorded on this investment. CPG/GS used cash proceeds of the aforementioned seller-financed loan to cover operating expenses and debt service payments, including those related to the loan that was paid off in October 2019. FirstBank will not receive any return on its equity interest until PRLP receives an aggregate amount equivalent to its initial investment and a priority return of at least 12%, which has not occurred, resulting in FirstBank’s interest in CPG/GS being subordinate to PRLP’s interest. CPG/GS will then begin to make payments pro rata to PRLP and FirstBank, 35% and 65%, respectively, until FirstBank has achieved a 12% return on its invested capital and the aggregate amount of distributions is equal to FirstBank’s capital contributions to CPG/GS. The Bank has determined that CPG/GS is a VIE in which the Bank is not the primary beneficiary. In determining the primary beneficiary of CPG/GS, the Bank considered applicable guidance that requires the Bank to qualitatively assess the determination of whether it is the primary beneficiary (or consolidator) of CPG/GS based on whether it has both the power to direct the activities of CPG/GS that most significantly affect the entity’s economic performance and the obligation to absorb losses of, or the right to receive benefits from, CPG/GS that could potentially be significant to the VIE. The Bank determined that it does not have the power to direct the activities that most significantly impact the economic performance of CPG/GS as it does not have the right to manage or influence the loan portfolio, foreclosure proceedings, or the construction and sale of the property; therefore, the Bank concluded that it is not the primary beneficiary of CPG/GS. Servicing Assets (MSRs) The Corporation typically transfers first lien residential mortgage loans in conjunction with GNMA securitization transactions in which the loans are exchanged for cash or securities that are readily redeemed for cash proceeds and servicing rights. The securities issued through these transactions are guaranteed by GNMA and, under seller/servicer agreements, the Corporation is required to service the loans in accordance with the issuers’ servicing guidelines and standards. As of June 30, 2022, the Corporation serviced loans securitized through GNMA with a principal balance of $ 2.1 billion. Also, certain conventional conforming loans are sold to FNMA or FHLMC with servicing retained. The Corporation recognizes as separate assets the rights to service loans for others, whether those servicing assets are originated or purchased. MSRs are included as part of other assets in the consolidated statements of financial condition. The changes in MSRs are shown below for the indicated periods: Quarter Ended Six-Month Period Ended June 30, June 30, (In thousands) 2022 2021 2022 2021 Balance at beginning of period $ 30,753 $ 32,710 $ 30,986 $ 33,071 Capitalization of servicing assets 828 1,550 1,958 2,900 Amortization ( 1,273) ( 1,920) ( 2,603) ( 3,557) Temporary impairment recoveries, net 9 30 64 37 Other (1) ( 40) ( 35) ( 128) ( 116) Balance at end of period $ 30,277 $ 32,335 $ 30,277 $ 32,335 (1) Represents adjustments related to the repurchase of loans serviced for others. Impairment charges are recognized through a valuation allowance for each individual stratum of servicing assets. The valuation allowance is adjusted to reflect the amount, if any, by which the cost basis of the servicing asset for a given stratum of loans being serviced exceeds its fair value. Any fair value in excess of the cost basis of the servicing asset for a given stratum is not recognized. Changes in the impairment allowance were as follows for the indicated periods: Quarter Ended Six-Month Period Ended June 30, June 30, 2022 2021 2022 2021 (In thousands) Balance at beginning of period $ 23 $ 195 $ 78 $ 202 Recoveries ( 9) ( 30) ( 64) ( 37) Balance at end of period $ 14 $ 165 $ 14 $ 165 The components of net servicing income, included as part of mortgage banking activities in the consolidated statements of income, are shown below for the indicated periods: Quarter Ended Six-Month Period Ended June 30, June 30, 2022 2021 2022 2021 (In thousands) Servicing fees $ 2,821 $ 3,018 $ 5,640 $ 5,933 Late charges and prepayment penalties 219 217 413 456 Adjustment for loans repurchased ( 40) ( 35) ( 128) ( 116) Servicing income, gross 3,000 3,200 5,925 6,273 Amortization and impairment of servicing assets ( 1,264) ( 1,890) ( 2,539) ( 3,520) Servicing income, net $ 1,736 $ 1,310 $ 3,386 $ 2,753 The Corporation’s MSRs are subject to prepayment and interest rate risks. Key economic assumptions used in determining the fair value at the time of sale of the related mortgages for the indicated periods ranged as follows: Weighted Average Maximum Minimum Six-Month Period Ended June 30, 2022: Constant prepayment rate: Government-guaranteed mortgage loans 6.7 % 18.3 % 4.8 % Conventional conforming mortgage loans 6.6 % 18.4 % 3.4 % Conventional non-conforming mortgage loans 6.3 % 21.9 % 4.5 % Discount rate: Government-guaranteed mortgage loans 11.9 % 12.0 % 11.5 % Conventional conforming mortgage loans 9.9 % 10.0 % 9.5 % Conventional non-conforming mortgage loans 12.4 % 14.5 % 11.5 % Six-Month Period Ended June 30, 2021: Constant prepayment rate: Government-guaranteed mortgage loans 6.1 % 14.0 % 3.7 % Conventional conforming mortgage loans 6.2 % 17.4 % 2.8 % Conventional non-conforming mortgage loans - % - % - % Discount rate: Government-guaranteed mortgage loans 12.0 % 12.0 % 12.0 % Conventional conforming mortgage loans 10.0 % 10.0 % 10.0 % Conventional non-conforming mortgage loans - % - % - % The weighted averages of the key economic assumptions that the Corporation used in its valuation model and the sensitivity of the current fair value to immediate 10% and 20% adverse changes in those assumptions for mortgage loans as of June 30, 2022 and December 31, 2021 were as follows: June 30, December 31, (Dollars in thousands) 2022 2021 Carrying amount of servicing assets $ 30,277 $ 30,986 Fair value $ 44,337 $ 42,132 Weighted-average expected life (in years) 7.94 7.96 Constant prepayment rate (weighted-average annual rate) 6.48 % 6.55 % Decrease in fair value due to 10% adverse change $ 1,044 $ 1,027 Decrease in fair value due to 20% adverse change $ 2,046 $ 2,011 Discount rate (weighted-average annual rate) 11.17 % 11.17 % Decrease in fair value due to 10% adverse change $ 1,962 $ 1,852 Decrease in fair value due to 20% adverse change $ 3,770 $ 3,561 These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10% variation in assumptions generally cannot be extrapolated because the relationship between the change in assumption and the change in fair value may not be linear. Also, in this table, the effect of a variation in a particular assumption on the fair value of the MSR is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or counteract the sensitivities. |
DEPOSITS
DEPOSITS | 6 Months Ended |
Jun. 30, 2022 | |
Deposits [Abstract] | |
DEPOSITS [Text Block] | NOTE 8 – DEPOSITS The following table summarizes deposit balances as of the indicated dates: June 30, 2022 December 31, 2021 (In thousands) Type of account: Non-interest-bearing deposit accounts $ 6,286,922 $ 7,027,513 Interest-bearing saving accounts 4,515,416 4,729,387 Interest-bearing checking accounts 4,137,295 3,492,645 Certificates of deposit ("CDs") 2,126,376 2,434,932 Brokered CDs 74,119 100,417 Total $ 17,140,128 $ 17,784,894 The following table presents the contractual maturities of CDs, including brokered CDs, as of June 30, 2022: Total (In thousands) Three months or less $ 572,584 Over three months to six months 381,963 Over six months to one year 584,351 Over one year to two years 357,337 Over two years to three years 160,362 Over three years to four years 59,798 Over four years to five years 77,232 Over five years 6,868 Total $ 2,200,495 The following were the components of interest expense on deposits for the indicated periods: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Interest expense on deposits $ 7,757 $ 11,117 $ 15,574 $ 23,842 Accretion of premiums from acquisitions ( 92) ( 390) ( 292) ( 846) Amortization of broker placement fees 29 55 64 128 Total interest expense on deposits $ 7,694 $ 10,782 $ 15,346 $ 23,124 Total U.S. time deposits with balances of more than $250,000 amounted to $ 852.0 million and $ 990.2 million as of June 30, 2022 and December 31, 2021, respectively. This amount does not include brokered CDs that are generally participated out by brokers in shares of less than the FDIC insurance limit. As of June 30, 2022 and December 31, 2021 unamortized broker placement fees amounted to $ 0.1 million and $ 0.2 million, respectively, which are amortized over the contractual maturity of the brokered CDs under the interest method. |
SECURITIES SOLD UNDER AGREEMENT
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 6 Months Ended |
Jun. 30, 2022 | |
Disclosure of Repurchase Agreements [Abstract] | |
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE [Text Block] | NOTE 9 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase (repurchase agreements) as of the indicated dates consisted of the following: June 30, 2022 December 31, 2021 (In thousands) Long-term fixed-rate repurchase agreements (1) $ 200,000 $ 300,000 (1) Weighted-average interest rate of 3.90% and 3.35% as of June 30, 2022 and December 31, 2021, respectively. The repurchase agreements mature as follows as of the indicated date: June 30, 2022 (In thousands) Over one year to three years $ 200,000 As of June 30, 2022 and December 31, 2021, the securities underlying such agreements were delivered to the dealers with which the repurchase agreements were transacted. In accordance with the master agreements, in the event of default, repurchase agreements have a right of set-off against the other party for amounts owed under the related agreement and any other amount or obligation owed with respect to any other agreement or transaction between them. As of June 30, 2022 and December 31, 2021, repurchase agreements were overcollateralized. The repurchase agreements as of June 30, 2022, grouped by counterparty, were as follows: Weighted-Average Counterparty Amount Maturity (In months) (Dollars in thousands) Credit Suisse First Boston $ 200,000 31 |
ADVANCES FROM THE FEDERAL HOME
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) | 6 Months Ended |
Jun. 30, 2022 | |
Federal Home Loan Bank, Advances, Fixed Rate [Abstract] | |
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) [Text Block] | NOTE 10 – ADVANCES FROM THE FEDERAL HOME LOAN BANK The following is a summary of the advances from the FHLB as of the indicated dates: June 30, December 31, 2022 2021 (In thousands) Long-term rate advances from FHLB (1) $ 200,000 $ 200,000 (1) Weighted-average interest rate of 2.16% as of each of June 30, 2022 and December 31, 2021. Advances from FHLB mature as follows as of the indicated date: June 30, 2022 (In thousands) Over one to three months $ 200,000 |
OTHER BORROWINGS
OTHER BORROWINGS | 6 Months Ended |
Jun. 30, 2022 | |
Subordinated Borrowings [Abstract] | |
OTHER BORROWINGS [Text Block] | NOTE 11 – OTHER BORROWINGS Other borrowings, as of the indicated dates, consisted of: June 30, December 31, 2022 2021 (In thousands) Floating rate junior subordinated debentures (FBP Statutory Trust I) (1) $ 65,205 $ 65,205 Floating rate junior subordinated debentures (FBP Statutory Trust II) (2) 118,557 118,557 $ 183,762 $ 183,762 (1) Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.75% over 3-month LIBOR ( 4.78% as of June 30, 2022 and 2.97% as of December 31, 2021). (2) Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.50% over 3-month LIBOR ( 4.60% as of June 30, 2022 and 2.71% as of December 31, 2021). |
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
EARNINGS PER COMMON SHARE [Text Block] | NOTE 12 – EARNINGS PER COMMON SHARE The calculations of earnings per common share for the quarters and six-month periods ended June 30, 2022 and 2021 are as follows: Quarter Ended Six-Month Period Ended June 30, June 30, 2022 2021 2022 2021 (In thousands, except per share information) Net income $ 74,695 $ 70,558 $ 157,295 $ 131,708 Less: Preferred stock dividends - ( 669) - ( 1,338) Net income attributable to common stockholders $ 74,695 $ 69,889 $ 157,295 $ 130,370 Weighted-Average Shares: Average common shares outstanding 194,405 213,574 196,257 215,294 Average potential dilutive common shares 961 1,035 1,184 1,139 Average common shares outstanding - assuming dilution 195,366 214,609 197,441 216,433 Earnings per common share: Basic $ 0.38 $ 0.33 $ 0.80 $ 0.61 Diluted $ 0.38 $ 0.33 $ 0.80 $ 0.60 Earnings per common share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares issued and outstanding. Net income attributable to common stockholders represents net income adjusted for any preferred stock dividends, including any dividends declared but not yet paid, and any cumulative dividends related to the current dividend period that have not been declared as of the end of the period. Basic weighted-average common shares outstanding exclude unvested shares of restricted stock that do not contain non-forfeitable dividend rights. Potential dilutive common shares consist of unvested shares of restricted stock that do not contain non-forfeitable dividend rights using the treasury stock method. This method assumes that proceeds equal to the amount of compensation cost attributable to future services is used to repurchase shares on the open market at the average market price for the period. The difference between the number of potential dilutive shares issued and the shares purchased is added as incremental shares to the actual number of shares outstanding to compute diluted earnings per share. Unvested shares of restricted stock outstanding during the period that result in lower potentially dilutive shares issued than shares purchased under the treasury stock method are not included in the computation of dilutive earnings per share since their inclusion would have an antidilutive effect on earnings per share. Potential dilutive common shares also include performance units that do not contain non-forfeitable dividend rights if the performance condition is met as of the end of the reporting period. |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 6 Months Ended |
Jun. 30, 2022 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
STOCK-BASED COMPENSATION [Text Block] | NOTE 13 – STOCK-BASED COMPENSATION On April 29, 2008, the Corporation’s stockholders approved the First Bancorp. 2008 Omnibus Incentive Plan (the “Omnibus Plan”). An amended and restated Omnibus Plan was subsequently approved by the Corporation’s stockholders on May 24, 2016 to, among other things, increase the number of shares of common stock reserved for issuance under the Omnibus Plan, extend the term of the Omnibus Plan to May 24, 2026 and re-approve the material terms of the performance goals under the Omnibus Plan for purposes of the then-effective Section 162(m) of the U.S. Internal Revenue Code of 1986, as amended. The Omnibus Plan provides for equity-based and non equity-based compensation incentives (the “awards”). The Omnibus Plan authorizes the issuance of up to 14,169,807 shares of common stock, subject to adjustments for stock splits, reorganizations and other similar events. As of June 30, 2022, there were 3,851,176 authorized shares of common stock available for issuance under the Omnibus Plan. The Corporation’s Board of Directors, based on the recommendation of the Corporation’s Compensation and Benefits Committee, has the power and authority to determine those eligible to receive awards and to establish the terms and conditions of any awards, subject to various limits and vesting restrictions that apply to individual and aggregate awards. Restricted Stock Under the Omnibus Plan, the Corporation may grant restricted stock to plan participants, subject to forfeiture upon the occurrence of certain events until the dates specified in the participant’s award agreement. While the restricted stock is subject to forfeiture and does not contain non-forfeitable dividend rights, participants may exercise full voting rights with respect to the shares of restricted stock granted to them. The fair value of the shares of restricted stock granted was based on the market price of the Corporation’s outstanding common stock on the date of the respective grant. The shares of restricted stocks granted to employees are subject to the following vesting period: fifty percent ( 50%) of those shares vest on the two-year 50% vest on the three-year anniversary of the grant date. The shares of restricted stocks granted to directors are generally subject to vesting on the one-year The following table summarizes the restricted stock activity in the first six months of 2022 and 2021 under the Omnibus Plan: Six-Month Period Ended Six-Month Period Ended June 30, 2022 June 30, 2021 Number of shares Weighted-Average Number of shares Weighted-Average of restricted Grant Date of restricted Grant Date stock Fair Value stock Fair Value Unvested shares outstanding at beginning of period 1,148,775 $ 6.61 1,320,723 $ 5.74 Granted (1) 301,440 13.15 293,621 11.26 Forfeited ( 10,364) 8.82 ( 10,460) 6.10 Vested ( 487,198) 5.72 ( 363,257) 7.98 Unvested shares outstanding at end of period 952,653 $ 9.11 1,240,627 $ 6.39 (1) Includes for the six-month period ended June 30, 2022, 3,048 shares of restricted stock awarded to an independent director and 298,392 shares of restricted stock awarded to employees, of which 6,084 shares were granted to retirement-eligible employees and thus charged to earnings as of the grant date. Includes for the six-month period ended June 30, 2021, 3,552 shares of restricted stock awarded to an independent director and 290,069 shares of restricted stock awarded to employees, of which 19,271 shares were granted to retirement-eligible employees and thus charged to earnings as of the grant date. For the quarter and six-month period ended June 30, 2022, the Corporation recognized $ 0.9 million and $ 1.8 million, respectively, of stock-based compensation expense related to restricted stock awards, compared to $ 0.8 million and $ 1.8 million for the same periods in 2021, respectively. As of June 30, 2022, there was $ 5.2 million of total unrecognized compensation cost related to unvested shares of restricted stock. The weighted average period over which the Corporation expects to recognize such cost was 1.8 years as of June 30, 2022. Stock-based compensation accounting guidance requires the Corporation to reverse compensation expense for any awards that are forfeited due to employee or director turnover. Changes in the estimated forfeiture rate may have a significant effect on stock-based compensation, as the Corporation recognizes the effect of adjusting the rate for all expense amortization in the period in which the forfeiture estimate is changed. If the actual forfeiture rate is higher than the estimated forfeiture rate, an adjustment is made to increase the estimated forfeiture rate, which will decrease the expense recognized in the financial statements. If the actual forfeiture rate is lower than the estimated forfeiture rate, an adjustment is made to decrease the estimated forfeiture rate, which will increase the expense recognized in the financial statements. Performance Units Under the Omnibus Plan, the Corporation may award performance units to Omnibus Plan participants, with each unit representing the value of one share of the Corporation’s common stock. These awards, which are granted to executives, do not contain non-forfeitable rights to dividend equivalent amounts and can only be settled in shares of the Corporation’s common stock. The performance units will vest on the third anniversary of the effective date of the awards, subject to the achievement of a pre-established tangible book value per share target. All the performance units will vest if performance is at the pre-established performance target level or above. However, the participants may vest with respect to 50% of the awards to the extent that performance is below the target but not less than 80% of the pre-established performance target level (the “80% minimum threshold”), which is measured based upon the growth in the tangible book value during the performance cycle. If performance is between the 80% minimum threshold and the pre-established performance target level, the participants will vest on a proportional amount. No performance units will vest if performance is below the 80% minimum threshold. The performance units granted in the first half of 2022 are for the performance period beginning January 1, 2022 and ending on December 31, 2024. The following table summarizes the performance units activity under the Omnibus Plan in the first six months of 2022 and 2021: Six-Month Period Ended Six-Month Period Ended (Number of units) June 30, 2022 June 30, 2021 Performance units at beginning of year 814,899 1,006,768 Additions 166,669 160,485 Vested (1) ( 189,645) ( 304,408) Performance units at end of period 791,923 862,845 (1) Units vested during the six-month period ended June 30, 2022 are related to performance units granted in 2019 that met the pre-established target and were settled with shares of common stock reissued from treasury shares. Units vested during the six-month period ended June 30, 2021 are related to performance units granted in 2018 that met the pre-established target and were settled with new shares of common stock. The fair values of the performance units awarded were based on the market price of the Corporation’s outstanding common stock on the respective date of the grant. For the quarter and six-month period ended June 30, 2022, the Corporation recognized $ 0.5 million and $ 0.8 million, respectively, of stock-based compensation expense related to performance units, compared to $ 0.5 million and $ 1.0 million for the same periods in 2021, respectively. As of June 30, 2022, there was $ 3.5 million of total unrecognized compensation cost related to unvested performance units that the Corporation expects to recognize over the next three years. The total amount of compensation expense recognized reflects management’s assessment of the probability that the pre-established performance goal will be achieved. The Corporation will recognize a cumulative adjustment to compensation expense in the then-current period to reflect any changes in the probability of achievement of the performance goals. Shares withheld During the first six months of 2022, the Corporation withheld 201,930 shares (first six months of 2021 – 210,572 shares) of the restricted stock and performance units that vested during such period to cover the officers’ payroll and income tax withholding liabilities; these shares are held as treasury shares. The Corporation paid in cash any fractional share of salary stock to which an officer was entitled. In the consolidated financial statements, the Corporation presents shares withheld for tax purposes as common stock repurchases. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 6 Months Ended |
Jun. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
STOCKHOLDERS' EQUITY [Text Block] | NOTE 14 – STOCKHOLDERS’ EQUITY Stock Repurchase Programs On April 27, 2022, the Corporation announced that its Board of Directors approved a stock repurchase program, under which the Corporation may repurchase up to $ 350 million of its outstanding common stock, expected to be executed through the next four quarters, which commenced in the second quarter of 2022. Repurchases under the program may be executed through open market purchases, accelerated share repurchases and/or privately negotiated transactions or plans, including plans complying with Rule 10b5-1 under the Exchange Act. The Corporation’s common stock repurchase program is subject to various factors, including the Corporation’s capital position, liquidity, financial performance and alternative uses of capital, stock trading price, and general market conditions. The repurchase program may be modified, extended, suspended, or terminated at any time at the Corporation’s discretion. The program does not obligate the Corporation to acquire any specific number of shares. During the second quarter of 2022, the Corporation repurchased 7,069,263 shares of common stock through open market transactions at an average purchase price of $ 14.15 per share for a total price of approximately $ 100 million, under this stock repurchase program. The shares received are held as treasury stock. As of June 30, 2022 , the Corporation has remaining authorization to repurchase approximately $ 250 million of common stock. Common Stock The following table shows the change in shares of common stock outstanding in the first six months of 2022: Total Number of Shares Common stock outstanding, beginning balance 201,826,505 Common stock repurchased (1) ( 10,680,890) Common stock reissued from treasury stock 491,085 Restricted stock forfeited ( 10,364) Common stock outstanding, ending balance 191,626,336 (1) Consisted of 7,069,263 shares of common stock repurchased in the open market at an average price of $ 14.15 per share for a total purchase price of approximately $ 100 million under the $ 350 million stock repurchase program announced in April 2022; 3,409,697 shares of common stock repurchased in the open market at an average price of $ 14.66 for a total purchase price of approximately $ 50 million under the prior $ 300 million stock repurchase program which was completed during the first quarter of 2022 and; 201,930 shares of common stock surrendered to cover officers' payroll and income taxes. For the quarter and six-month period ended June 30, 2022, total cash dividends declared on shares of common stock amounted to $ 23.4 million and $ 43.3 million, respectively, compared to $ 15.0 million and $ 30.3 million for the same periods in 2021. On July 21, 2022 the Corporation’s Board of Directors declared a quarterly cash dividend of $ 0.12 per common share payable on September 9, 2022 August 25, 2022. The Corporation intends to continue to pay quarterly dividends on common stock. However, the Corporation’s common stock dividends, including the declaration, timing, and amount, remain subject to consideration and approval by the Corporation’s Board Directors at the relevant times. Preferred Stock The Corporation has 50,000,000 authorized shares of preferred stock with a par value of $ 1.00, redeemable at the Corporation’s option, subject to certain terms. This stock may be issued in series and the shares of each series have such rights and preferences as are fixed by the Board of Directors when authorizing the issuance of that particular series. On November 30, 2021, the Corporation redeemed all of its 1,444,146 outstanding shares of Series A through Series E Preferred Stock for its liquidation value of $ 25 per share of $ 36.1 million. The difference between the liquidation value and net carrying value was $ 1.2 million, which was recorded as a reduction to retained earnings in 2021. The redeemed preferred stock shares were not listed on any securities exchange or automated quotation system. No shares of preferred stock have been subsequently issued or were outstanding as of June 30, 2022. For the quarter and six-month period ended June 30, 2021, total cash dividends declared on shares of preferred stock amounted to $ 0.7 million and $ 1.3 million, respectively. Treasury stock During the first six months of 2022 and 2021, the Corporation withheld and recognized in treasury stock an aggregate of 201,930 shares and 210,572 shares, respectively, of the restricted stock and performance units that vested during those periods, for income tax withholding purposes. Also held as treasury stock are the 10,478,960 shares of common stock repurchased during the first six months of 2022 as part of the stock repurchase programs described above. As of June 30, 2022 and December 31, 2021, the Corporation had 32,036,780 and 21,836,611 shares held as treasury stock, respectively. FirstBank Statutory Reserve (Legal Surplus) The Banking Law of the Commonwealth of Puerto Rico requires that a minimum of 10% of FirstBank’s net income for the year be transferred to a legal surplus reserve until such surplus equals the total of paid-in-capital on common and preferred stock. Amounts transferred to the legal surplus reserve from retained earnings are not available for distribution to the Corporation, including for payment as dividends to the stockholders, without the prior consent of the Puerto Rico Commissioner of Financial Institutions. The Puerto Rico Banking Law provides that, when the expenditures of a Puerto Rico commercial bank are greater than receipts, the excess of the expenditures over receipts must be charged against the undistributed profits of the bank, and the balance, if any, must be charged against the legal surplus reserve, as a reduction thereof. If the legal surplus reserve is not sufficient to cover such balance in whole or in part, the outstanding amount must be charged against the capital account and the Bank cannot pay dividends until it can replenish the legal surplus reserve to an amount of at least 20% of the original capital contributed. FirstBank’s legal surplus reserve, included as part of retained earnings in the Corporation’s consolidated statements of financial condition, amounted to $ 137.6 million as of each of June 30, 2022 and December 31, 2021. There were no transfers to the legal surplus reserve during the first six months of 2022. |
OTHER COMPREHENSIVE (LOSS) INCO
OTHER COMPREHENSIVE (LOSS) INCOME | 6 Months Ended |
Jun. 30, 2022 | |
Statement of Other Comprehensive Loss [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 15 – OTHER COMPREHENSIVE (LOSS) INCOME Changes in Accumulated Other Comprehensive (Loss) Income by Component (1) Quarter Ended Six-Month Period Ended June 30, June 30, June 30, June 30, 2022 2021 2022 2021 (in thousands) Unrealized net holding (losses) gains on available-for-sale debt securities Beginning balance $ ( 419,224) $ ( 43,204) $ ( 87,390) $ 55,725 Other comprehensive (loss) income ( 175,923) 28,496 ( 507,757) ( 70,433) Ending balance $ ( 595,147) $ ( 14,708) $ ( 595,147) $ ( 14,708) Adjustment of pension and postretirement benefit plans: Beginning balance $ 3,391 $ ( 270) $ 3,391 $ ( 270) Other comprehensive (loss) income - - - - Ending balance $ 3,391 $ ( 270) $ 3,391 $ ( 270) (1) All amounts presented are net of tax. |
EMPLOYEES BENEFIT PLANS
EMPLOYEES BENEFIT PLANS | 6 Months Ended |
Jun. 30, 2022 | |
Employees' Benefit Plan [Abstract] | |
Employees' Benefit Plan [Text Block] | NOTE 16 – EMPLOYEE BENEFIT PLANS The Corporation maintains two frozen qualified noncontributory defined benefit pension plans (the “Pension Plans”), and a related complementary post-retirement benefit plan (the “Postretirement Benefit Plan”) covering medical benefits and life insurance after retirement that it obtained in the BSPR acquisition on September 1, 2020. One defined benefit pension plan covers substantially all of BSPR’s former employees who were active before January 1, 2007, while the other defined benefit pension plan covers personnel of an institution previously acquired by BSPR. Benefits are based on salary and years of service. The accrual of benefits under the Pension Plans is frozen to all participants. The Corporation requires recognition of a plan’s overfunded and underfunded status as an asset or liability with an offsetting adjustment to accumulated other comprehensive loss pursuant to ASC Topic 715, “Compensation-Retirement Benefits.” The following table presents the components of net periodic benefit income for the Pension Plans and Postretirement Benefit Plan for the indicated periods: Quarter Ended June 30, Six-Month Period Ended June 30, Location 2022 2021 2022 2021 (In thousands) Net periodic benefit income: Interest cost Other expenses $ 656 $ 620 $ 1,311 $ 1,240 Estimated return on plan assets Other expenses ( 1,040) ( 1,131) ( 2,079) ( 2,262) Net periodic benefit income $ ( 384) $ ( 511) $ ( 768) $ ( 1,022) The Corporation does not expect to contribute to the Pension Plans during 2022. |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES [Text Block] | NOTE 17 - INCOME TAXES Income tax expense includes Puerto Rico and USVI income taxes, as well as applicable U.S. federal and state taxes. The Corporation is subject to Puerto Rico income tax on its income from all sources. As a Puerto Rico corporation, FirstBank is treated as a foreign corporation for U.S. and USVI income tax purposes and, accordingly, is generally subject to U.S. and USVI income tax only on its income from sources within the U.S. and USVI or income effectively connected with the conduct of a trade or business in those jurisdictions. Any such tax paid in the U.S. and USVI is also creditable against the Corporation’s Puerto Rico tax liability, subject to certain conditions and limitations. Under the Puerto Rico Internal Revenue Code of 2011, as amended (the “2011 PR Code”), the Corporation and its subsidiaries are treated as separate taxable entities and are not entitled to file consolidated tax returns and, thus, the Corporation is generally not entitled to utilize losses from one subsidiary to offset gains in another subsidiary. Accordingly, in order to obtain a tax benefit from a net operating loss (“NOL”), a particular subsidiary must be able to demonstrate sufficient taxable income within the applicable NOL carry-forward period. Pursuant to the 2011 PR Code, the carry-forward period for NOLs incurred during taxable years that commenced after December 31, 2004 and ended before January 1, 2013 is 12 years; for NOLs incurred during taxable years commencing after December 31, 2012, the carryover period is 10 years. The 2011 PR Code provides a dividend received deduction of 100% on dividends received from “controlled” subsidiaries subject to taxation in Puerto Rico and 85% on dividends received from other taxable domestic corporations. On June 30, 2022, the Governor of Puerto Rico signed Act No. 52-2022 to introduce various technical amendments to the 2011 Puerto Rico Internal Revenue Code, as amended (“PR Code”). The Corporation has evaluated such provisions and determined that the impact of such amendments on the income tax provision and deferred tax assets as of June 30, 2022 were not significant. The Corporation has maintained an effective tax rate lower than the maximum statutory rate of 37.5% mainly by investing in government obligations and MBS exempt from U.S. and Puerto Rico income taxes and by doing business through an international banking entity (“an IBE”) unit of the Bank, and through the Bank’s subsidiary, FirstBank Overseas Corporation, whose interest income and gains on sales are exempt from Puerto Rico income taxation. The IBE unit and FirstBank Overseas Corporation were created under the International Banking Entity Act of Puerto Rico, which provides for total Puerto Rico tax exemption on net income derived by IBEs operating in Puerto Rico on the specific activities identified in the IBE Act. An IBE that operates as a unit of a bank pays income taxes at the corporate standard rates to the extent that the IBE’s net income exceeds 20% of the bank’s total net taxable income. For the second quarter of 2022, the Corporation recorded an income tax expense of $ 34.1 million compared to $ 40.1 million in the second quarter of 2021. The variance was primarily related to a lower estimated effective tax rate as a result of a higher proportion of exempt to taxable income when compared to the same period in 2021. For the first six months of 2022, the Corporation recorded an income tax expense of $ 77.1 million compared to $ 68.1 million for the same period in 2021. The increase in income tax expense for the first six months of 2022, as compared to the same period a year ago, was related to higher pre-tax income, partially offset by a lower estimated effective tax rate as a result of a higher proportion of exempt to taxable income. For the quarter and six-month period ended June 30, 2022, the Corporation calculated the provision for income taxes by applying the estimated annual effective tax rate for the full fiscal year to ordinary income or loss. In the computation of the consolidated worldwide annual estimated effective tax rate, ASC Topic 740-270, “Income Taxes” (“ASC 740-270”), requires the exclusion of legal entities with pre-tax losses from which a tax benefit cannot be recognized. The Corporation’s estimated annual effective tax rate in the first six months of 2022, excluding entities from which a tax benefit cannot be recognized and discrete items, was 31.7%, compared to 33.2% for the first six months of 2021. The estimated annual effective tax rate, including all entities, for 2022 was 31.9% ( 32.3% excluding discrete items), compared to 33.6% for the first six months of 2021 ( 33.8% excluding discrete items). The Corporation’s net deferred tax asset amounted to $ 167.0 million as of June 30, 2022, net of a valuation allowance of $ 166.4 million, and management concluded, based upon the assessment of all positive and negative evidence, that it was more likely than not that the Corporation will generate sufficient taxable income within the applicable NOL carry-forward periods to realize such amount. The net deferred tax asset of the Corporation’s banking subsidiary, FirstBank, amounted to $ 166.9 million as of June 30, 2022, net of a valuation allowance of $ 127.7 million, compared to a net deferred tax asset of $ 208.4 million, net of a valuation allowance of $ 69.7 million, as of December 31, 2021. The decrease in the deferred tax assets was mainly driven by the usage of NOLs as well as the credit losses reserve release. The increase in the valuation allowance during the first six months of 2022 was primarily related to the change in the market value of available-for-sale debt securities. The Corporation maintains a full valuation allowance for its deferred tax assets associated with capital losses carry forward, thus, the change in the market value of available-for-sale debt securities resulted in a change in the deferred tax asset and an equal change in the valuation allowance without having an effect on earnings. In 2017, the Corporation completed a formal ownership change analysis within the meaning of Section 382 of the U.S. Internal Revenue Code (“Section 382”) covering a comprehensive period and concluded that an ownership change had occurred during such period. The Section 382 limitation has resulted in higher U.S. and USVI income tax liabilities than we would have incurred in the absence of such limitation. The Corporation has mitigated to an extent the adverse effects associated with the Section 382 limitation as any such tax paid in the U.S. or USVI can be creditable against Puerto Rico tax liabilities or taken as a deduction against taxable income. However, our ability to reduce our Puerto Rico tax liability through such a credit or deduction depends on our tax profile at each annual taxable period, which is dependent on various factors. For the second quarter and six-month period ended June 30, 2022, the Corporation incurred current income tax expense of approximately $ 2.5 million and $ 4.1 million, respectively, related to its U.S. operations, compared to $ 1.4 million and $ 2.5 million, respectively, for the comparable periods in 2021. The limitation did not impact the USVI operations in the second quarter and six-month periods ended June 30, 2022 and 2021. The Corporation accounts for uncertain tax positions under the provisions of ASC Topic 740. The Corporation’s policy is to report interest and penalties related to unrecognized tax benefits in income tax expense. As of June 30, 2022, the Corporation had $ 0.3 million of accrued interest and penalties related to uncertain tax positions in the amount of $ 1.0 million that it acquired from BSPR, which, if recognized, would decrease the effective income tax rate in future periods. The amount of unrecognized tax benefits may increase or decrease in the future for various reasons, including adding amounts for current tax year positions, expiration of open income tax returns due to the statute of limitations, changes in management’s judgment about the level of uncertainty, the status of examinations, litigation, and legislative activity, and the addition or elimination of uncertain tax positions. The statute of limitations under the 2011 PR code is four years; the statute of limitations for U.S. and USVI income tax purposes is three years after a tax return is due or filed, whichever is later. The completion of an audit by the taxing authorities or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Corporation’s liability for income taxes. Any such adjustment could be material to the results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. For U.S. and USVI income tax purposes, all tax years subsequent to 2017 remain open to examination. For Puerto Rico tax purposes, all tax years subsequent to 2016 remain open to examination. |
FAIR VALUE
FAIR VALUE | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE [Text Block] | NOTE 18 – FAIR VALUE Fair Value Measurement ASC Topic 820, “Fair Value Measurement,” defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This guidance also establishes a fair value hierarchy for classifying assets and liabilities, which is based on whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. One of three levels of inputs may be used to measure fair value: Level 1 Valuations of Level 1 assets and liabilities are obtained from readily-available pricing sources for market transactions involving identical assets or liabilities in active markets. Level 2 Valuations of Level 2 assets and liabilities are based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Valuations of Level 3 assets and liabilities are based on unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined by using pricing models for which the determination of fair value requires significant management judgment as to the estimation. See Note 30 - Fair Value included in the 2021 Annual Report on Form 10-K for information regarding valuation techniques and inputs used to measure financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis are summarized below as of June 30, 2022 and December 31, 2021: As of June 30, 2022 As of December 31, 2021 Fair Value Measurements Using Fair Value Measurements Using (In thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Debt securities available for sale: U.S. Treasury securities $ 141,347 $ - $ - $ 141,347 $ 148,486 $ - $ - $ 148,486 Noncallable U.S. agencies debt securities - 258,663 - 258,663 - 285,028 - 285,028 Callable U.S. agencies debt securities - 2,159,474 - 2,159,474 - 1,971,954 - 1,971,954 MBS - 3,511,456 6,371 (1) 3,517,827 - 4,037,209 7,234 4,044,443 Puerto Rico government obligations - - 2,809 2,809 - - 2,850 2,850 Other investments - - 1,000 1,000 - - 1,000 1,000 Equity securities 5,082 - - 5,082 5,378 - - 5,378 Derivative assets - 1,025 - 1,025 - 1,505 - 1,505 Liabilities: Derivative liabilities - 636 - 636 - 1,178 - 1,178 (1) Related to private label MBS. The table below presents a reconciliation of the beginning and ending balances of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, 2022 2021 Level 3 Instruments Only Debt Securities Debt Securities (In thousands) Available For Sale (1) Available For Sale (1) Beginning balance $ 10,647 $ 11,776 Total (losses) gains: Included in other comprehensive income (unrealized) ( 106) 384 Included in earnings (unrealized) (2) 35 - Principal repayments and amortization ( 396) ( 679) Ending balance $ 10,180 $ 11,481 (1) Amounts mostly related to private label MBS. (2) Changes in unrealized gains included in earnings were recognized within provision for credit losses - benefit and relate to assets still held as of the reporting date. Six-Month Period Ended June 30, 2022 2021 Level 3 Instruments Only Debt Securities Debt Securities (In thousands) Available For Sale (1) Available For Sale (1) Beginning balance $ 11,084 $ 11,977 Total (losses) gains: Included in other comprehensive income (unrealized) ( 393) 705 Included in earnings (unrealized) (2) 423 127 Principal repayments and amortization ( 934) ( 1,328) Ending balance $ 10,180 $ 11,481 (1) Amounts mostly related to private label MBS. (2) Changes in unrealized gains included in earnings were recognized within provision for credit losses - benefit and relate to assets still held as of the reporting date. The tables below present quantitative information for significant assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of June 30, 2022 and December 31, 2021: June 30, 2022 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Available-for-sale debt securities: Private label MBS $ 6,371 Discounted cash flows Discount rate 15.2% 15.2% 15.2% Prepayment rate 3.2% 20.9% 12.7% Projected cumulative loss rate 0.4% 15.8% 5.6% Puerto Rico government obligations 2,809 Discounted cash flows Discount rate 9.1% 9.1% 9.1% Projected cumulative loss rate 19.2% 19.2% 19.2% December 31, 2021 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Available-for-sale debt securities: Private label MBS $ 7,234 Discounted cash flows Discount rate 12.9% 12.9% 12.9% Prepayment rate 7.6% 24.9% 15.2% Projected cumulative loss rate 0.2% 15.7% 7.6% Puerto Rico government obligations 2,850 Discounted cash flows Discount rate 6.6% 8.4% 7.9% Projected cumulative loss rate 8.6% 8.6% 8.6% Information about Sensitivity to Changes in Significant Unobservable Inputs Private label MBS : The significant unobservable inputs in the valuation include probability of default, the loss severity assumption, and prepayment rates. Shifts in those inputs would result in different fair value measurements. Increases in the probability of default, loss severity assumptions, and prepayment rates in isolation would generally result in an adverse effect on the fair value of the instruments. The Corporation modeled meaningful and possible shifts of each input to assess the effect on the fair value estimation. Puerto Rico Government Obligations : The significant unobservable input used in the fair value measurement is the assumed loss rate of the underlying residential mortgage loans that collateralize these obligations, which are guaranteed by the PRHFA. A significant increase (decrease) in the assumed rate would lead to a (lower) higher fair value estimate. The fair value of these bonds was based on a discounted cash flow methodology that considers the structure and terms of the debt security. The Corporation utilizes PDs and LGDs that consider, among other things, historical payment performance, loan-to-value attributes and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates, the housing price index and the expected recovery of PRHFA guarantee. Under this approach, expected cash flows (interest and principal) were discounted at the Treasury yield curve as of the reporting date and compared to the amortized cost. Additionally, fair value is used on a nonrecurring basis to evaluate certain assets in accordance with GAAP. As of June 30, 2022, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis and still held at June 30, 2022, and categorized as Level 3, as shown in the following table: Carrying value as of June 30, 2022 Related to (losses) gains recorded for the Quarter Ended June 30, 2022 Related to losses recorded for the Six-Month Period Ended June 30, 2022 (Losses) gains recorded for the Quarter Ended June 30, 2022 Losses recorded for the Six-Month Period Ended June 30, 2022 (In thousands) Loans receivable (1) $ 5,422 $ 29,967 $ ( 817) $ ( 3,848) OREO (2) 2,140 2,741 35 ( 38) Premises and equipment (3) - 1,242 - ( 218) (1) Consists mainly of collateral dependent commercial and construction loans. The Corporation generally measured losses based on the fair value of the collateral. The Corporation derived the fair values from external appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the collateral (e.g., absorption rates), which are not market observable. (2) The Corporation derived the fair values from appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the properties (e.g., absorption rates and net operating income of income producing properties), which are not market observable. Losses were related to market valuation adjustments after the transfer of the loans to the OREO portfolio. (3) Relates to a banking facility reclassified to held-for-sale and measured at the fair value of the collateral. As of June 30, 2021, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis and still held as of June 30, 2021 as shown in the following table: Carrying value as of June 30, 2021 Related to losses recorded for the Quarter Ended June 30, 2021 Related to losses recorded for the Six-Month Period Ended June 30, 2021 Losses recorded for the Quarter Ended June 30, 2021 Losses recorded for the Six-Month Period Ended June 30, 2021 (In thousands) Loans receivable (1) $ 13,013 $ 41,610 $ ( 1,689) $ ( 4,350) OREO (2) 2,930 5,033 ( 225) ( 374) Loans held for sale (3) - 4,004 - ( 116) (1) Consists mainly of collateral dependent commercial and construction loans. The Corporation generally measured losses based on the fair value of the collateral. The Corporation derived the fair values from external appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the collateral (e.g., absorption rates), which are not market observable. (2) The Corporation derived the fair values from appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the properties (e.g., absorption rates and net operating income of income producing properties), which are not market observable. Losses were related to market valuation adjustments after the transfer of the loans to the OREO portfolio. (3) Commercial loan participation transferred to held for sale in the first quarter of 2021 and still in inventory as of June 30, 2021. The value was primarily derived from offers of market participants that the Corporation considered. See Note 30 - Fair Value included in the 2021 Annual Report on Form 10-K for qualitative information regarding the fair value measurements for Level 3 financial instruments. Fair Value of Financial Instruments The following tables present the carrying value, estimated fair value and estimated fair value level of the hierarchy of financial instruments as of June 30, 2022 and December 31, 2021: Total Carrying Amount in Statement of Financial Condition as of June 30, 2022 Fair Value Estimate as of June 30, 2022 Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks and money market investments (amortized cost) $ 1,263,523 $ 1,263,523 $ 1,263,523 $ - $ - Debt securities available for sale (fair value) 6,081,120 6,081,120 141,347 5,929,593 10,180 Debt securities held to maturity (amortized cost) 458,227 Less: allowance for credit losses on held-to-maturity debt securities ( 8,885) Debt securities held to maturity, net of allowance $ 449,342 453,242 - 278,223 175,019 Equity securities (amortized cost) 27,761 27,761 - 27,761 (1) - Other equity securities (fair value) 5,082 5,082 5,082 - - Loans held for sale (lower of cost or market) 22,601 22,790 - 22,790 - Loans held for investment (amortized cost) 11,206,874 Less: allowance for credit losses for loans and finance leases ( 252,152) Loans held for investment, net of allowance $ 10,954,722 10,954,724 - - 10,954,724 MSRs (amortized cost) 30,277 44,337 - - 44,337 Derivative assets (fair value) (2) 1,025 1,025 - 1,025 - Liabilities: Deposits (amortized cost) $ 17,140,128 $ 17,146,043 $ - $ 17,146,043 $ - Securities sold under agreements to repurchase (amortized cost) 200,000 205,456 - 205,456 - Advances from FHLB (amortized cost) 200,000 200,051 - 200,051 - Other borrowings (amortized cost) 183,762 175,122 - - 175,122 Derivative liabilities (fair value) (2) 636 636 - 636 - (1) Includes FHLB stock with a carrying value of $ 21.3 million. (2) Includes interest rate swap agreements, interest rate caps, forward contracts, interest rate lock commitments, and forward loan sales commitments. Total Carrying Amount in Statement of Financial Condition as of December 31, 2021 Fair Value Estimate as of December 31, 2021 Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks and money market investments (amortized cost) $ 2,543,058 $ 2,543,058 $ 2,543,058 $ - $ - Debt securities available for sale (fair value) 6,453,761 6,453,761 148,486 6,294,191 11,084 Debt securities held to maturity (amortized cost) 178,133 Less: allowance for credit losses on held-to-maturity debt securities ( 8,571) Debt securities held to maturity, net of allowance 169,562 167,147 - - 167,147 Equity securities (amortized cost) 26,791 26,791 - 26,791 (1) - Other equity securities (fair value) 5,378 5,378 5,378 - - Loans held for sale (lower of cost or market) 35,155 36,147 - 36,147 - Loans held for investment (amortized cost) 11,060,658 Less: allowance for credit losses for loans and finance leases ( 269,030) Loans held for investment, net of allowance $ 10,791,628 10,900,400 - - 10,900,400 MSRs (amortized cost) 30,986 42,132 - - 42,132 Derivative assets (fair value) (2) 1,505 1,505 - 1,505 - Liabilities: Deposits (amortized cost) $ 17,784,894 $ 17,800,706 $ - $ 17,800,706 $ - Securities sold under agreements to repurchase (amortized cost) 300,000 322,105 - 322,105 - Advances from FHLB (amortized cost) 200,000 202,044 - 202,044 - Other borrowings (amortized cost) 183,762 177,689 - - 177,689 Derivative liabilities (fair value) (2) 1,178 1,178 - 1,178 - (1) Includes FHLB stock with a carrying value of $ 21.5 million. (2) Includes interest rate swap agreements, interest rate caps, forward contracts, interest rate lock commitments, and forward loan sales commitments. The short-term nature of certain assets and liabilities result in their carrying value approximating fair value. These include cash and cash due from banks and other short-term assets, such as FHLB stock. Certain assets, the most significant being premises and equipment, goodwill and other intangible assets, are not considered financial instruments and are not included above. Accordingly, this fair value information is not intended to, and does not, represent the Corporation’s underlying value. Many of these assets and liabilities that are subject to the disclosure requirements are not actively traded, requiring management to estimate fair values. These estimates necessarily involve the use of assumptions and judgment about a wide variety of factors, including but not limited to, relevancy of market prices of comparable instruments, expected futures cash flows, and appropriate discount rates. |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS | 6 Months Ended |
Jun. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | NOTE 19 – REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue Recognition In accordance with ASC Topic 606, “Revenue from Contracts with Customers” (“ASC Topic 606”), revenues are recognized when control of promised goods or services is transferred to customers and in an amount that reflects the consideration to which the Corporation expects to be entitled in exchange for those goods or services. At contract inception, once the contract is determined to be within the scope of ASC Topic 606, the Corporation assesses the goods or services that are promised within each contract, identifies the respective performance obligations, and assesses whether each promised good or service is distinct. The Corporation then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Disaggregation of Revenue The following table summarizes the Corporation’s revenue, which includes net interest income on financial instruments and non-interest income, disaggregated by type of service and business segment for the quarters and six-month periods ended June 30, 2022 and 2021: (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Quarter Ended June 30, 2022: Net interest income (1) $ 26,335 $ 102,397 $ 31,379 $ 11,466 $ 18,688 $ 5,921 $ 196,186 Service charges and fees on deposit accounts - 5,495 3,069 - 157 745 9,466 Insurance commissions (2) - 2,724 - - 20 202 2,946 Merchant-related income - 1,711 381 - 17 327 2,436 Credit and debit card fees - 7,391 21 - 3 449 7,864 Other service charges and fees 59 2,066 876 - 485 157 3,643 Not in scope of ASC Topic 606 (1) 4,108 396 101 ( 51) ( 4) 36 4,586 Total non-interest income 4,167 19,783 4,448 ( 51) 678 1,916 30,941 Total Revenue $ 30,502 $ 122,180 $ 35,827 $ 11,415 $ 19,366 $ 7,837 $ 227,127 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Quarter Ended June 30, 2021: Net interest income (1) $ 26,331 $ 64,751 $ 51,498 $ 19,039 $ 16,406 $ 6,758 $ 184,783 Service charges and fees on deposit accounts - 4,966 2,987 - 135 700 8,788 Insurance commissions (2) - 1,987 - - 28 200 2,215 Merchant-related income - 1,910 257 - 12 283 2,462 Credit and debit card fees - 6,621 21 - 11 404 7,057 Other service charges and fees 177 846 693 - 431 147 2,294 Not in scope of ASC Topic 606 (1) 5,960 396 181 85 451 ( 5) 7,068 Total non-interest income 6,137 16,726 4,139 85 1,068 1,729 29,884 Total Revenue $ 32,468 $ 81,477 $ 55,637 $ 19,124 $ 17,474 $ 8,487 $ 214,667 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Six-Month Period Ended June 30, 2022: Net interest income (1) $ 52,114 $ 191,943 $ 71,794 $ 18,875 $ 35,170 $ 11,914 $ 381,810 Service charges and fees on deposit accounts - 11,034 6,045 - 295 1,455 18,829 Insurance commissions (2) - 7,691 - - 49 481 8,221 Merchant-related income - 3,533 754 - 22 716 5,025 Credit and debit card fees - 14,062 37 - ( 4) 859 14,954 Other service charges and fees 202 3,176 1,989 - 984 314 6,665 Not in scope of ASC Topic 606 (1) 9,217 750 177 ( 163) 76 48 10,105 Total non-interest income 9,419 40,246 9,002 ( 163) 1,422 3,873 63,799 Total Revenue $ 61,533 $ 232,189 $ 80,796 $ 18,712 $ 36,592 $ 15,787 $ 445,609 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Six-Month Period Ended June 30, 2021: Net interest income (1) $ 51,571 $ 123,234 $ 100,479 $ 40,622 $ 31,429 $ 13,713 $ 361,048 Service charges and fees on deposit accounts - 9,442 5,958 - 284 1,408 17,092 Insurance commissions (2) - 6,954 - - 57 445 7,456 Merchant-related income - 2,832 513 - 25 487 3,857 Credit and debit card fees - 12,266 40 - 14 774 13,094 Other service charges and fees 350 1,711 1,212 - 889 288 4,450 Not in scope of ASC Topic 606 (1) 12,903 764 313 141 774 ( 4) 14,891 Total non-interest income 13,253 33,969 8,036 141 2,043 3,398 60,840 Total Revenue $ 64,824 $ 157,203 $ 108,515 $ 40,763 $ 33,472 $ 17,111 $ 421,888 (1) Most of the Corporation’s revenue is not within the scope of ASC Topic 606. The guidance explicitly excludes net interest income from financial assets and liabilities, as well as other non-interest income from loans, leases, investment securities and derivative financial instruments. (2) Contingent commission income is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur or payments are received. For the quarter and six-month period ended June 30, 2022, the Corporation recognized revenue at the time that payments were confirmed and constraints were released of $ 265 thousand and $ 3.2 million, respectively, compared to $ 16 thousand and $ 3.3 million for the quarter and six-month period ended June 30, 2021. For the six-month periods ended June 30, 2022 and 2021, most of the Corporation’s revenue within the scope of ASC Topic 606 was related to performance obligations satisfied at a point in time. See Note 31 – Revenue from Contracts with Customers included in the 2021 Annual Report on Form 10-K for a discussion of major revenue streams under the scope of ASC Topic 606. Contract Balances As of June 30, 2022 and 2021, there were no contract assets from contracts with customers or contract assets recorded on the Corporation’s consolidated financial statements. The following table shows the activity of contract liabilities for the quarters and six-month periods ended June 30, 2022 and 2021: Quarter Ended Six-Month Period Ended June 30, June 30, (In thousands) 2022 2021 2022 2021 Beginning Balance $ 1,154 $ 2,070 $ 1,443 $ 2,151 Less: Revenue recognized ( 105) ( 81) ( 394) ( 162) Ending balance $ 1,049 $ 1,989 $ 1,049 $ 1,989 Other Except for the contract liabilities noted above, the Corporation did not have any significant performance obligations as of June 30, 2022. The Corporation also did not have any material contract acquisition costs and did not make any significant judgments or estimates in recognizing revenue for financial reporting purposes. |
SUPPLEMENTAL CASH FLOW INFORMAT
SUPPLEMENTAL CASH FLOW INFORMATION | 6 Months Ended |
Jun. 30, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
SUPPLEMENTAL CASH FLOW INFORMATION [Text Block] | NOTE 20 – SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION Supplemental cash flow information is as follows for the indicated periods: Six-Month Period Ended June 30, 2022 2021 (In thousands) Cash paid for: Interest on borrowings $ 26,148 $ 36,936 Income tax 15,295 8,968 Operating cash flow from operating leases 9,156 9,817 Non-cash investing and financing activities: Additions to OREO 10,698 8,647 Additions to auto and other repossessed assets 20,575 18,155 Capitalization of servicing assets 1,958 2,900 Loan securitizations 78,397 106,833 Loans held for investment transferred to held for sale 2,443 31,383 Right-of-use ("ROU") assets obtained in exchange for operating lease liabilities 1,158 2,610 Unsettled purchases of investment securities 20,202 50,026 Unsettled common stock shares repurchases - 772 |
SEGMENT INFORMATION
SEGMENT INFORMATION | 6 Months Ended |
Jun. 30, 2022 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION [Text Block] | NOTE 21 – SEGMENT INFORMATION Based upon the Corporation’s organizational structure and the information provided to the Chief Executive Officer, the 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, 2022, the Corporation had six reportable segments: Commercial and Corporate Banking; Mortgage Banking; Consumer (Retail) Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. Management determined the reportable segments based on the internal structure used to evaluate performance and to assess where to allocate resources. Other factors, such as the Corporation’s organizational chart, nature of the products, distribution channels, and the economic characteristics of the products, were also considered in the determination of the reportable segments. 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 public sector. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans, and floor plan financings, as well as other products, such as cash management and business management services. 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 markets. In addition, the Mortgage Banking segment includes mortgage loans purchased from other local banks and mortgage bankers. The Consumer (Retail) Banking segment consists of the Corporation’s consumer lending and deposit-taking activities conducted mainly through its branch network and loan centers. The Treasury and Investments segment is responsible for the Corporation’s investment portfolio and treasury functions that are executed to manage and enhance liquidity. This segment lends funds to the Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking and United States Operations segments to finance their lending activities and borrows from those segments. The Consumer (Retail) Banking segment also lends funds to other segments. The interest rates charged or credited by the Treasury and Investments and the Consumer (Retail) Banking segments are allocated based on market rates. The difference between the allocated interest income or expense and the Corporation’s actual net interest income from centralized management of funding costs is reported in the Treasury and Investments segment. 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 BVI, including commercial and consumer banking services. The accounting policies of the segments are the same as those referred to in Note 1 – Nature of Business and Summary of Significant Accounting Policies, in the audited consolidated financial statements, which are included in the 2021 Annual Report on Form 10-K. The Corporation evaluates the performance of the segments based on net interest income, the provision for credit losses, non-interest income and direct non-interest expenses. The segments are also evaluated based on the average volume of their interest-earning assets less the ACL. The following tables present information about the reportable segments for the indicated periods: (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total For the Quarter Ended June 30, 2022: Interest income $ 33,205 $ 73,487 $ 47,513 $ 27,143 $ 21,081 $ 6,196 $ 208,625 Net (charge) credit for transfer of funds ( 6,870) 34,039 ( 16,134) ( 10,705) ( 330) - - Interest expense - ( 5,129) - ( 4,972) ( 2,063) ( 275) ( 12,439) Net interest income 26,335 102,397 31,379 11,466 18,688 5,921 196,186 Provision for credit losses - (benefit) expense ( 3,605) 15,055 ( 470) ( 35) ( 1,678) 736 10,003 Non-interest income (loss) 4,167 19,783 4,448 ( 51) 678 1,916 30,941 Direct non-interest expenses 5,681 40,546 9,048 905 8,237 6,765 71,182 Segment income $ 28,426 $ 66,579 $ 27,249 $ 10,545 $ 12,807 $ 336 $ 145,942 Average earnings assets $ 2,243,188 $ 2,860,086 $ 3,624,176 $ 7,769,754 $ 2,036,108 $ 370,590 $ 18,903,902 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total For the Quarter Ended June 30, 2021: Interest income $ 36,945 $ 66,237 $ 53,833 $ 16,708 $ 20,651 $ 7,085 $ 201,459 Net (charge) credit for transfer of funds ( 10,614) 5,901 ( 2,335) 8,191 ( 1,143) - - Interest expense - ( 7,387) - ( 5,860) ( 3,102) ( 327) ( 16,676) Net interest income 26,331 64,751 51,498 19,039 16,406 6,758 184,783 Provision for credit losses expense - expense (benefit) 1,030 791 ( 27,752) - 860 ( 1,084) ( 26,155) Non-interest income 6,137 16,726 4,139 85 1,068 1,729 29,884 Direct non-interest expenses 7,525 43,255 8,298 1,127 9,103 7,301 76,609 Segment income $ 23,913 $ 37,431 $ 75,091 $ 17,997 $ 7,511 $ 2,270 $ 164,213 Average earnings assets $ 2,563,768 $ 2,491,583 $ 3,888,725 $ 7,588,530 $ 2,103,002 $ 438,928 $ 19,074,536 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total Six-Month Period Ended June 30, 2022 Interest income $ 66,276 $ 143,924 $ 94,540 $ 49,327 $ 39,938 $ 12,474 $ 406,479 Net (charge) credit for transfer of funds ( 14,162) 58,321 ( 22,746) ( 20,654) ( 759) - - Interest expense - ( 10,302) - ( 9,798) ( 4,009) ( 560) ( 24,669) Net interest income 52,114 191,943 71,794 18,875 35,170 11,914 381,810 Provision for credit losses - (benefit) expense ( 7,308) 26,199 ( 17,092) ( 423) ( 5,225) 50 ( 3,799) Non-interest income (loss) 9,419 40,246 9,002 ( 163) 1,422 3,873 63,799 Direct non-interest expenses 12,587 79,817 17,907 1,790 16,716 13,738 142,555 Segment income $ 56,254 $ 126,173 $ 79,981 $ 17,345 $ 25,101 $ 1,999 $ 306,853 Average earnings assets $ 2,268,279 $ 2,810,062 $ 3,662,720 $ 7,931,699 $ 2,050,791 $ 374,358 $ 19,097,909 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total Six-Month Period Ended June 30, 2021 Interest income $ 74,005 $ 131,970 $ 105,291 $ 29,470 $ 40,983 $ 14,382 $ 396,101 Net (charge) credit for transfer of funds ( 22,434) 6,956 ( 4,812) 23,125 ( 2,835) - - Interest expense - ( 15,692) - ( 11,973) ( 6,719) ( 669) ( 35,053) Net interest income 51,571 123,234 100,479 40,622 31,429 13,713 361,048 Provision for credit losses - expense (benefit) 244 4,753 ( 44,931) ( 127) 623 ( 1,969) ( 41,407) Non-interest income 13,253 33,969 8,036 141 2,043 3,398 60,840 Direct non-interest expenses 15,522 84,346 19,836 2,361 17,397 14,706 154,168 Segment income $ 49,058 $ 68,104 $ 133,610 $ 38,529 $ 15,452 $ 4,374 $ 309,127 Average earnings assets $ 2,611,065 $ 2,467,015 $ 3,957,859 $ 6,921,007 $ 2,090,898 $ 444,201 $ 18,492,045 The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods: Quarter Ended Six-Month Period Ended June 30, June 30, 2022 2021 2022 2021 (In thousands) Net income: Total income for segments $ 145,942 $ 164,213 $ 306,853 $ 309,127 Other operating expenses (1) 37,144 53,563 72,430 109,305 Income before income taxes 108,798 110,650 234,423 199,822 Income tax expense 34,103 40,092 77,128 68,114 Total consolidated net income $ 74,695 $ 70,558 $ 157,295 $ 131,708 Average assets: Total average earning assets for segments $ 18,903,902 $ 19,074,536 $ 19,097,909 $ 18,492,045 Average non-earning assets 820,924 1,109,941 890,043 1,146,337 Total consolidated average assets $ 19,724,826 $ 20,184,477 $ 19,987,952 $ 19,638,382 (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. |
REGULATORY MATTERS, COMMITMENTS
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES [Text Block] | NOTE 22 – REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES The Corporation and FirstBank are each subject to various regulatory capital requirements imposed by the U.S. federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material adverse effect on the Corporation’s financial statements and activities. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation must meet specific capital guidelines that involve quantitative measures of the Corporation’s and FirstBank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Corporation’s capital amounts and classification are also subject to qualitative judgments and adjustment by the regulators with respect to minimum capital requirements, components, risk weightings, and other factors. As of June 30, 2022 and December 31, 2021, the Corporation and FirstBank exceeded the minimum regulatory capital ratios for capital adequacy purposes and FirstBank exceeded the minimum regulatory capital ratios to be considered a well capitalized institution under the regulatory framework for prompt corrective action. As of June 30, 2022, management does not believe that any condition has changed or event has occurred that would have changed the institution’s status. The Corporation and FirstBank compute risk-weighted assets using the standardized approach required by the U.S. Basel III capital rules (“Basel III rules”). The Basel III rules require the Corporation to maintain an additional capital conservation buffer of 2.5% on certain regulatory capital ratios to avoid limitations on both (i) capital distributions ( e.g. , repurchases of capital instruments, dividends and interest payments on capital instruments) and (ii) discretionary bonus payments to executive officers and heads of major business lines. As part of its response to the impact of COVID-19, on March 31, 2020, the federal banking agencies issued an interim final rule that provided the option to temporarily delay the effects of CECL on regulatory capital for two years, followed by a three-year transition period. The interim final rule provides that, at the election of a qualified banking organization, the day 1 impact to retained earnings plus 25% of the change in the ACL (as defined in the final rule) from January 1, 2020 to December 31, 2021 will be delayed for two years and phased-in at 25% per year beginning on January 1, 2022 over a three-year period, resulting in a total transition period of five years. Accordingly, as of June 30, 2022, the capital measures of the Corporation and the Bank included $ 16.2 million associated with the CECL day one impact to retained earnings plus 25% of the increase in the ACL (as defined in the interim final rule) from January 1, 2020 to December 31, 2021, and $ 48.6 million remains excluded to be phased-in during the next two years. The federal financial regulatory agencies may take other measures affecting regulatory capital to address the COVID-19 pandemic and related macroeconomic conditions, although the nature and impact of such actions cannot be predicted at this time. The regulatory capital positions of the Corporation and FirstBank as of June 30, 2022 and December 31, 2021, which reflect the delay in the effect of CECL on regulatory capital, were as follows: Regulatory Requirements Actual For Capital Adequacy Purposes To be Well-Capitalized- Thresholds Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of June 30, 2022 Total Capital (to Risk-Weighted Assets) First BanCorp. $ 2,378,124 19.67 % $ 966,978 8.0 % N/A N/A FirstBank $ 2,290,652 18.96 % $ 966,755 8.0 % $ 1,208,444 10.0 % CET1 Capital (to Risk-Weighted Assets) First BanCorp. $ 2,049,120 16.95 % $ 543,925 4.5 % N/A N/A FirstBank $ 2,039,899 16.88 % $ 543,800 4.5 % $ 785,488 6.5 % Tier I Capital (to Risk-Weighted Assets) First BanCorp. $ 2,049,120 16.95 % $ 725,234 6.0 % N/A N/A FirstBank $ 2,139,899 17.71 % $ 725,066 6.0 % $ 966,755 8.0 % Leverage ratio First BanCorp. $ 2,049,120 10.18 % $ 805,294 4.0 % N/A N/A FirstBank $ 2,139,899 10.63 % $ 804,971 4.0 % $ 1,006,214 5.0 % As of December 31, 2021 Total Capital (to Risk-Weighted Assets) First BanCorp. $ 2,433,953 20.50 % $ 949,637 8.0 % N/A N/A FirstBank $ 2,401,390 20.23 % $ 949,556 8.0 % $ 1,186,944 10.0 % CET1 Capital (to Risk-Weighted Assets) First BanCorp. $ 2,112,630 17.80 % $ 534,171 4.5 % N/A N/A FirstBank $ 2,150,317 18.12 % $ 534,125 4.5 % $ 771,514 6.5 % Tier I Capital (to Risk-Weighted Assets) First BanCorp. $ 2,112,630 17.80 % $ 712,228 6.0 % N/A N/A FirstBank $ 2,258,317 19.03 % $ 712,167 6.0 % $ 949,556 8.0 % Leverage ratio First BanCorp. $ 2,112,630 10.14 % $ 833,091 4.0 % N/A N/A FirstBank $ 2,258,317 10.85 % $ 832,773 4.0 % $ 1,040,967 5.0 % The Corporation enters into financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments may include commitments to extend credit and standby letters of credits. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses. Since certain commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. For most of the commercial lines of credit, the Corporation has the option to reevaluate the agreement prior to additional disbursements. In the case of credit cards and personal lines of credit, the Corporation can cancel the unused credit facility at any time and without cause. As of June 30, 2022, commitments to extend credit amounted to approximately $ 2.0 billion, of which $ 1.2 billion relates to credit card loans. Commercial and financial standby letters of credit amounted to approximately $ 113.0 million. As of June 30, 2022, First BanCorp. and its subsidiaries were defendants in various legal proceedings, claims, and other loss contingencies arising in the ordinary course of business. On at least a quarterly basis, the Corporation assesses its liabilities and contingencies in connection with threatened and outstanding legal proceedings, claims, and other loss contingencies utilizing the latest information available. For legal proceedings, claims, and other loss contingencies where it is both probable that the Corporation will incur a loss and the amount can be reasonably estimated, the Corporation establishes an accrual for the loss. Once established, the accrual is adjusted as appropriate to reflect any relevant developments. For legal proceedings, claims, and other loss contingencies where a loss is not probable or the amount of the loss cannot be estimated, no accrual is established. Any estimate involves significant judgment, given the varying stages of the proceedings (including the fact that some of them are currently in preliminary stages), the existence in some of the current proceedings of multiple defendants whose share of liability has yet to be determined, the numerous unresolved issues in the proceedings, and the inherent uncertainty of the various potential outcomes of such proceedings. Accordingly, the Corporation’s estimate will change from time-to-time, and actual losses may be more or less than the current estimate. While the final outcome of legal proceedings, claims, and other loss contingencies is inherently uncertain, based on information currently available, management believes that the final disposition of the Corporation’s legal proceedings, claims, and other loss contingencies, to the extent not previously provided for, will not have a material adverse effect on the Corporation’s consolidated financial position as a whole. If management believes that, based on available information, it is at least reasonably possible that a material loss (or material loss in excess of any accrual) will be incurred in connection with any legal contingencies, the Corporation discloses an estimate of the possible loss or range of loss, either individually or in the aggregate, as appropriate, if such an estimate can be made, or discloses that an estimate cannot be made. Based on the Corporation’s assessment as of June 30, 2022, no such disclosures were necessary. |
FIRST BANCORP. (Holding Company
FIRST BANCORP. (Holding Company Only) Financial Information | 6 Months Ended |
Jun. 30, 2022 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
FIRST BANCORP. (Holding Company Only) Financial Information [Text Block] | NOTE 23 – FIRST BANCORP. (HOLDING COMPANY ONLY) FINANCIAL INFORMATION The following condensed financial information presents the financial position of First BanCorp. at the holding company level only as of June 30, 2022 and December 31, 2021, and the results of its operations for the quarters and six-month periods ended June 30, 2022 and 2021: Statements of Financial Condition (Unaudited) As of June 30, As of December 31, 2022 2021 (In thousands) Assets Cash and due from banks $ 18,387 $ 20,751 Other investment securities 285 285 Investment in First Bank Puerto Rico, at equity 1,648,605 2,247,289 Investment in First Bank Insurance Agency, at equity 25,674 19,521 Investment in FBP Statutory Trust I 1,951 1,951 Investment in FBP Statutory Trust II 3,561 3,561 Dividend receivable 50,797 295 Other assets 210 71 Total assets $ 1,749,470 $ 2,293,724 Liabilities and Stockholdersʼ Equity Liabilities: Other borrowings $ 183,762 $ 183,762 Accounts payable and other liabilities 7,792 8,195 Total liabilities 191,554 191,957 Stockholdersʼ equity 1,557,916 2,101,767 Total liabilities and stockholdersʼ equity $ 1,749,470 $ 2,293,724 Statements of Income (Unaudited) Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Income: Interest income on money market investments $ 10 $ 8 $ 14 $ 24 Dividend income from banking subsidiaries 178,679 16,328 242,272 35,129 Other income 51 39 91 77 Total income 178,740 16,375 242,377 35,230 Expense: Other borrowings 1,698 1,285 3,031 2,579 Other operating expenses 434 637 873 1,136 Total expenses 2,132 1,922 3,904 3,715 Income before income taxes and equity in undistributed earnings of subsidiaries 176,608 14,453 238,473 31,515 Income tax expense 793 659 1,899 1,788 (Distributions in excess of earnings) equity in undistributed earnings of subsidiaries ( 101,120) 56,764 ( 79,279) 101,981 Net income $ 74,695 $ 70,558 $ 157,295 $ 131,708 Other comprehensive (loss) income, net of tax ( 175,923) 28,496 ( 507,757) ( 70,433) Comprehensive (loss) income $ ( 101,228) $ 99,054 $ ( 350,462) $ 61,275 |
BASIS OF PRESENTATION AND SIG_2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Basis of Presentation and Significant Accounting Policies [Abstract] | |
Principles of consolidation [Policy Text Block] | The Consolidated Financial Statements (unaudited) of First BanCorp. (the “Corporation”) have been prepared in conformity with the accounting policies stated in the Corporation’s Audited Consolidated Financial Statements for the fiscal year ended December 31, 2021 (the “audited consolidated financial statements”) included in the 2021 Annual Report on Form 10-K. Certain information and note disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted from these statements pursuant to the rules and regulations of the SEC and, accordingly, these financial statements should be read in conjunction with the audited consolidated financial statements, which are included in the 2021 Annual Report on Form 10-K. All adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the statement of financial position, results of operations and cash flows for the interim periods have been reflected. All significant intercompany accounts and transactions have been eliminated in consolidation. |
Accounting Standards Adopted [Policy Text Block] | Adoption of New Accounting Requirements The Corporation was not impacted by the adoption of the following Accounting Standards Updates (“ASUs”) during 2022: ASU 2021-05, “Leases (Topic 842): Lessors – Certain Leases with Variable Lease Payments” ASU 2021-04, “Earnings Per Share (Topic 260), Debt – Modifications and Extinguishments (Subtopic 470-50), Compensation – Stock Compensation (Topic 718), and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a Consensus of the Emerging Issues Task Force)” ASU 2020-06, “Debt – Debt with Conversion and other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in an Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” |
DEBT SECURITIES (Tables)
DEBT SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items] | |
Debt Securities, Available-for-sale, Allowance for Credit Loss [Table Text Block] | The following tables present a rollforward by major security type for the quarters and six-month periods ended June 30, 2022 and 2021 of the ACL on available-for-sale debt securities: Quarter Ended June 30, 2022 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ 403 $ 308 $ 711 Provision for credit losses - (benefit) expense ( 113) 78 ( 35) ACL on available-for-sale debt securities $ 290 $ 386 $ 676 Quarter Ended June 30, 2021 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ 875 $ 308 $ 1,183 Net charge-offs ( 17) - ( 17) ACL on available-for-sale debt securities $ 858 $ 308 $ 1,166 Six-Month Period Ended June 30, 2022 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ 797 $ 308 $ 1,105 Provision for credit losses - (benefit) expense ( 501) 78 ( 423) Net charge-offs ( 6) - ( 6) ACL on available-for-sale debt securities $ 290 $ 386 $ 676 Six-Month Period Ended June 30, 2021 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ 1,002 $ 308 $ 1,310 Provision for credit losses - benefit ( 127) - ( 127) Net charge-offs ( 17) - ( 17) ACL on available-for-sale debt securities $ 858 $ 308 $ 1,166 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Table Text Block] | The following tables present the activity in the ACL for held-to-maturity debt securities by major security type for the quarters and six-month periods ended June 30, 2022 and 2021: Puerto Rico Municipal Bonds Quarter Ended June 30, 2022 Quarter Ended June 30, 2021 (In thousands) Beginning Balance $ 12,324 $ 8,869 Provision for credit losses - (benefit) expense ( 3,439) 1,816 ACL on held-to-maturity debt securities $ 8,885 $ 10,685 Puerto Rico Municipal Bonds Six-Month Period Ended Six-Month Period Ended June 30, 2022 June 30, 2021 (In thousands) Beginning Balance $ 8,571 $ 8,845 Provision for credit losses - expense 314 1,840 ACL on held-to-maturity debt securities $ 8,885 $ 10,685 |
Significant Assumptions in Valuation of Private Label MBS [Table Text Block] | The tables below present quantitative information for significant assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of June 30, 2022 and December 31, 2021: June 30, 2022 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Available-for-sale debt securities: Private label MBS $ 6,371 Discounted cash flows Discount rate 15.2% 15.2% 15.2% Prepayment rate 3.2% 20.9% 12.7% Projected cumulative loss rate 0.4% 15.8% 5.6% Puerto Rico government obligations 2,809 Discounted cash flows Discount rate 9.1% 9.1% 9.1% Projected cumulative loss rate 19.2% 19.2% 19.2% December 31, 2021 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Available-for-sale debt securities: Private label MBS $ 7,234 Discounted cash flows Discount rate 12.9% 12.9% 12.9% Prepayment rate 7.6% 24.9% 15.2% Projected cumulative loss rate 0.2% 15.7% 7.6% Puerto Rico government obligations 2,850 Discounted cash flows Discount rate 6.6% 8.4% 7.9% Projected cumulative loss rate 8.6% 8.6% 8.6% |
Held-to-maturity Securities [Member] | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items] | |
Investments Classified by Contractual Maturity Date [Table Text Block] | The amortized cost, gross unrecognized gains and losses, estimated fair value, ACL, weighted-average yield and contractual maturities of held-to-maturity debt securities as of June 30, 2022 and December 31, 2021 were as follows: June 30, 2022 Amortized cost (1) Gross Unrecognized Fair value ACL Weighted- average yield% Gains Losses (Dollars in thousands) Puerto Rico municipal bonds: Due within one year $ 595 $ - $ - $ 595 $ 1 5.45 After 1 to 5 years 15,021 658 44 15,635 175 2.98 After 5 to 10 years 93,031 2,457 2,286 93,202 3,411 4.64 After 10 years 69,768 - 4,181 65,587 5,298 4.35 Total Puerto Rico municipal bonds 178,415 3,115 6,511 175,019 8,885 4.39 MBS: FHLMC certificates: After 5 to 10 years $ 24,398 $ 8 $ - $ 24,406 $ - 3.04 After 10 years 20,211 - 84 20,127 - 4.39 44,609 8 84 44,533 - 3.65 GNMA certificates: After 10 years 20,657 - 121 20,536 - 3.38 FNMA certificates: After 10 years 75,530 326 242 75,614 - 2.90 CMOs After 10 years 139,016 - 1,476 137,540 - 3.25 Total MBS 279,812 334 1,923 278,223 - 3.23 Total held-to-maturity debt securities $ 458,227 $ 3,449 $ 8,434 $ 453,242 $ 8,885 3.68 (1) Excludes accrued interest receivable. December 31, 2021 Amortized cost (1) Gross Unrecognized Fair value ACL Weighted- average yield% Gains Losses (Dollars in thousands) Puerto Rico municipal bonds: Due within one year $ 2,995 $ 5 $ - $ 3,000 $ 70 5.39 After 1 to 5 years 14,785 526 156 15,155 347 2.35 After 5 to 10 years 90,584 1,555 3,139 89,000 3,258 4.25 After 10 years 69,769 - 9,777 59,992 4,896 4.06 Total held-to-maturity debt securities $ 178,133 $ 2,086 $ 13,072 $ 167,147 $ 8,571 4.04 (1) Excludes accrued interest receivable. |
Schedule of Unrealized Loss on Investments [Table Text Block] | The following tables show the Corporation’s held-to-maturity debt securities’ fair value and gross unrecognized losses, aggregated by category and length of time that individual securities had been in a continuous unrecognized loss position, as of June 30, 2022 and December 31, 2021, including debt securities for which an ACL was recorded: As of June 30, 2022 Less than 12 months 12 months or more Total Unrecognized Unrecognized Unrecognized Fair Value Losses Fair Value Losses Fair Value Losses (In thousands) Debt securities: Puerto Rico municipal bonds $ - $ - $ 127,321 $ 6,511 $ 127,321 $ 6,511 MBS: FHLMC certificates 20,127 84 - - 20,127 84 GNMA certificates 20,536 121 - - 20,536 121 FNMA certificates 35,037 242 - - 35,037 242 CMOs 137,540 1,476 - - 137,540 1,476 Total held-to-maturity debt securities $ 213,240 $ 1,923 $ 127,321 $ 6,511 $ 340,561 $ 8,434 As of December 31, 2021 Less than 12 months 12 months or more Total Unrecognized Unrecognized Unrecognized Fair Value Losses Fair Value Losses Fair Value Losses (In thousands) Debt securities: Puerto Rico municipal bonds $ - $ - $ 140,732 $ 13,072 $ 140,732 $ 13,072 |
Available-for-sale Securities [Member] | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items] | |
Investments Classified by Contractual Maturity Date [Table Text Block] | The amortized cost, gross unrealized gains and losses recorded in other comprehensive loss, ACL, estimated fair value, and weighted-average yield of available-for-sale debt securities by contractual maturities as of June 30, 2022 were as follows: June 30, 2022 Amortized cost (1) Gross Unrealized ACL Fair value Weighted- Gains Losses average yield% (Dollars in thousands) U.S. Treasury securities: After 1 to 5 years $ 149,262 $ - $ 7,915 $ - $ 141,347 0.68 U.S. government-sponsored agencies' obligations: After 1 to 5 years 2,352,787 24 152,520 - 2,200,291 0.79 After 5 to 10 years 227,548 65 24,168 - 203,445 0.96 After 10 years 14,184 217 - - 14,401 2.04 Puerto Rico government obligations: After 10 years (2) 3,441 - 246 386 2,809 - United States and Puerto Rico government obligations 2,747,222 306 184,849 386 2,562,293 0.81 Mortgage-backed securities ("MBS"): Freddie Mac (“FHLMC”) certificates: After 1 to 5 years 5,347 1 76 - 5,272 2.33 After 5 to 10 years 203,549 52 9,852 - 193,749 1.44 After 10 years 1,175,621 9 144,500 - 1,031,130 1.33 1,384,517 62 154,428 - 1,230,151 1.35 Ginnie Mae (“GNMA”) certificates: Due within one year 6 - - - 6 1.95 After 1 to 5 years 20,088 130 329 - 19,889 2.04 After 5 to 10 years 42,090 - 2,369 - 39,721 1.07 After 10 years 261,681 1,434 18,926 - 244,189 2.01 323,865 1,564 21,624 - 303,805 1.89 Fannie Mae (“FNMA”) certificates: Due within one year 2,099 - 2 - 2,097 2.41 After 1 to 5 years 15,905 161 44 - 16,022 2.87 After 5 to 10 years 379,705 51 19,210 - 360,546 1.51 After 10 years 1,325,053 591 145,356 - 1,180,288 1.38 1,722,762 803 164,612 - 1,558,953 1.42 Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA ("CMOs"): ` Due within one year 68 - - - 68 2.54 After 1 to 5 years 33,228 3 3,253 - 29,978 1.70 After 10 years 447,341 - 58,840 - 388,501 1.27 480,637 3 62,093 - 418,547 1.30 Private label: After 10 years 9,187 - 2,526 290 6,371 4.42 Total MBS 3,920,968 2,432 405,283 290 3,517,827 1.43 Other Due within one year 1,000 - - - 1,000 0.78 Total available-for-sale debt securities $ 6,669,190 $ 2,738 $ 590,132 $ 676 $ 6,081,120 1.17 (1) Excludes accrued interest receivable. (2) Consists of a residential pass-through MBS issued by the Puerto Rico Housing Finance Authority (“PRHFA”) that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010. During 2021, the Corporation placed this instrument in nonaccrual status based on the delinquency status of the underlying second mortgage loans collateral. The amortized cost, gross unrealized gains and losses recorded in other comprehensive loss, ACL, estimated fair value, and weighted-average yield of available-for-sale debt securities by contractual maturities as of December 31, 2021 were as follows: December 31, 2021 Amortized cost (1) Gross Unrealized ACL Fair value Weighted- Gains Losses average yield% (Dollars in thousands) U.S. Treasury securities: After 1 to 5 years $ 149,660 $ 59 $ 1,233 $ - $ 148,486 0.68 U.S. government-sponsored agencies' obligations: After 1 to 5 years 1,877,181 240 29,555 - 1,847,866 0.60 After 5 to 10 years 403,785 175 10,856 - 393,104 0.90 After 10 years 15,788 224 - - 16,012 0.63 Puerto Rico government obligations: After 10 years (2) 3,574 - 416 308 2,850 - United States and Puerto Rico government obligations 2,449,988 698 42,060 308 2,408,318 0.67 MBS: FHLMC certificates: After 1 to 5 years 2,811 119 - - 2,930 2.65 After 5 to 10 years 193,234 2,419 1,122 - 194,531 1.29 After 10 years 1,240,964 3,748 23,503 - 1,221,209 1.18 1,437,009 6,286 24,625 - 1,418,670 1.20 GNMA certificates: Due within one year 2 - - - 2 1.32 After 1 to 5 years 16,714 572 - - 17,286 2.90 After 5 to 10 years 27,271 80 139 - 27,212 0.51 After 10 years 338,927 7,091 2,174 - 343,844 1.45 382,914 7,743 2,313 - 388,344 1.45 FNMA certificates: Due within one year 4,975 21 - - 4,996 2.03 After 1 to 5 years 21,337 424 - - 21,761 2.87 After 5 to 10 years 298,771 4,387 1,917 - 301,241 1.41 After 10 years 1,389,381 8,953 21,747 - 1,376,587 1.21 1,714,464 13,785 23,664 - 1,704,585 1.27 CMOs After 1 to 5 years 24,007 1 778 - 23,230 1.31 After 5 to 10 years 14,316 97 - - 14,413 0.76 After 10 years 500,811 290 13,134 - 487,967 1.23 539,134 388 13,912 - 525,610 1.22 Private label: After 10 years 9,994 - 1,963 797 7,234 2.21 Total MBS 4,083,515 28,202 66,477 797 4,044,443 1.26 Other Due within one year 500 - - - 500 0.72 After 1 to 5 years 500 - - - 500 0.84 1,000 - - - 1,000 0.78 Total available-for-sale debt securities $ 6,534,503 $ 28,900 $ 108,537 $ 1,105 $ 6,453,761 1.03 (1) Excludes accrued interest receivable. (2) Consists of a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages originated under a program launched by the Puerto Rico government in 2010. During 2021, the Corporation placed this instrument in nonaccrual status based on this delinquency status of the underlying second mortgage loans collateral. |
Schedule of Unrealized Loss on Investments [Table Text Block] | The following tables show the fair value and gross unrealized losses of the Corporation’s available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of June 30, 2022 and December 31, 2021. The tables also include debt securities for which an ACL was recorded. As of June 30, 2022 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (In thousands) Debt securities: U.S. Treasury and U.S. government agenciesʼ obligations $ 1,530,493 $ 89,224 $ 1,005,051 $ 95,379 $ 2,535,544 $ 184,603 Puerto Rico-government obligations - - 2,809 246 (1) 2,809 246 MBS: FHLMC 779,727 83,109 441,983 71,319 1,221,710 154,428 GNMA 184,481 12,334 57,306 9,290 241,787 21,624 FNMA 1,004,966 89,854 508,377 74,758 1,513,343 164,612 CMOs 260,811 36,877 146,590 25,216 407,401 62,093 Private label - - 6,371 2,526 (1) 6,371 2,526 $ 3,760,478 $ 311,398 $ 2,168,487 $ 278,734 $ 5,928,965 $ 590,132 (1) Unrealized losses do not include the credit loss component recorded as part of the ACL. As of June 30, 2022, PRHFA bond and private label MBS had an ACL of $ 0.4 million and $ 0.3 million, respectively. As of December 31, 2021 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (In thousands) Debt securities: U.S. Treasury and U.S. government agenciesʼ obligations $ 1,717,340 $ 25,401 $ 606,179 $ 16,243 $ 2,323,519 $ 41,644 Puerto Rico-government obligations - - 2,850 416 (1) 2,850 416 MBS: FHLMC 986,345 16,144 221,896 8,481 1,208,241 24,625 GNMA 194,271 1,329 41,233 984 235,504 2,313 FNMA 1,237,701 19,843 112,559 3,821 1,350,260 23,664 CMOs 466,004 13,552 16,656 360 482,660 13,912 Private label - - 7,234 1,963 (1) 7,234 1,963 $ 4,601,661 $ 76,269 $ 1,008,607 $ 32,268 $ 5,610,268 $ 108,537 (1) Unrealized losses do not include the credit loss component recorded as part of the ACL. As of December 31, 2021, PRHFA bond and private label MBS had an ACL of $ 0.3 million and $ 0.8 million, respectively. |
Significant Assumptions in Valuation of Private Label MBS [Table Text Block] | The Corporation determined the ACL for private label MBS based on a risk-adjusted discounted cash flow methodology that considers the structure and terms of the instruments. The Corporation utilized probability of default (“PDs”) and loss given default (“LGDs”) that considered, among other things, historical payment performance, loan-to-value attributes and relevant current and forward-looking macroeconomic variables, such as regional unemployment rates and the housing price index. Under this approach, expected cash flows (interest and principal) were discounted at the Treasury yield curve as of the reporting date. Significant assumptions in the valuation of the private label MBS were as follows : As of As of June 30, 2022 December 31, 2021 Weighted Range Weighted Range Average Minimum Maximum Average Minimum Maximum Discount rate 15.2% 15.2% 15.2% 12.9% 12.9% 12.9% Prepayment rate 12.7% 3.2% 20.9% 15.2% 7.6% 24.9% Projected Cumulative Loss Rate 5.6% 0.4% 15.8% 7.6% 0.2% 15.7% |
LOANS HELD FOR INVESTMENT (Tabl
LOANS HELD FOR INVESTMENT (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan Portfolio Held for Investment [Table Text Block] | The following table provides information about the loan portfolio held for investment by portfolio segment and disaggregated by geographic location as of the indicated dates: As of June 30, 2022 As of December 31, 2021 (In thousands) Puerto Rico and Virgin Island region: Residential mortgage loans, mainly secured by first mortgages $ 2,444,532 $ 2,549,573 Construction loans 25,477 43,133 Commercial mortgage loans 1,784,879 1,702,231 Commercial and Industrial ("C&I") loans 1,869,210 1,946,597 Consumer loans 3,093,629 2,872,384 Loans held for investment 9,217,727 9,113,918 Florida region: Residential mortgage loans, mainly secured by first mortgages $ 407,153 $ 429,322 Construction loans 89,833 95,866 Commercial mortgage loans 485,234 465,238 C&I loans 993,707 940,654 Consumer loans 13,220 15,660 Loans held for investment 1,989,147 1,946,740 Total: Residential mortgage loans, mainly secured by first mortgages $ 2,851,685 $ 2,978,895 Construction loans 115,310 138,999 Commercial mortgage loans 2,270,113 2,167,469 C&I loans (1) 2,862,917 2,887,251 Consumer loans 3,106,849 2,888,044 Loans held for investment (2) $ 11,206,874 $ 11,060,658 (1) As of June 30, 2022 and December 31, 2021, includes $ 893.0 million and $ 952.1 million, respectively, of commercial loans that were secured by real estate but were not dependent upon the real estate for repayment. (2) Includes accretable fair value net purchase discounts of $ 32.0 million and $ 35.3 million as of June 30, 2022 and December 31, 2021, respectively. |
Corporation's Aging of Loans Held for Investment Portfolio [Table Text Block] | The Corporation’s aging of the loan portfolio held for investment by portfolio classes and nonaccrual loans with no ACL as of June 30, 2022 and December 31, 2021 are as follows: As of June 30, 2022 Days Past Due and Accruing Current 30-59 60-89 90 + (1) (2) (3) Nonaccrual (4) (5) Total loans held for investment Nonaccrual Loans with no ACL (6) (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (1) (3) (7) $ 63,062 $ - $ 2,346 $ 55,752 $ - $ 121,160 $ - Conventional residential mortgage loans (2) (7) 2,633,359 - 30,964 21,614 44,588 2,730,525 3,351 Commercial loans: Construction loans 112,932 - - 3 2,375 115,310 982 Commercial mortgage loans (2) (7) 2,243,330 - 417 1,613 24,753 2,270,113 7,736 C&I loans 2,828,679 4,990 197 11,972 17,079 2,862,917 11,619 Consumer loans: Auto loans 1,668,658 29,884 4,771 - 6,916 1,710,229 2,535 Finance leases 626,352 5,234 1,148 - 1,047 633,781 266 Personal loans 321,892 2,903 1,458 - 893 327,146 - Credit cards 288,774 3,096 2,012 3,407 - 297,289 - Other consumer loans 134,142 1,857 946 - 1,459 138,404 13 Total loans held for investment $ 10,921,180 $ 47,964 $ 44,259 $ 94,361 $ 99,110 $ 11,206,874 $ 26,502 (1) It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $ 35.6 million of residential mortgage loans insured by the FHA that were over 15 months delinquent. (2) Includes purchased credit deteriorated ("PCD") loans previously accounted for under Accounting Standard Codification ("ASC") Subtopic 310-30, "Loans and Debt Securities Acquired with Deteriorated Credit Quality" ("ASC Subtopic 310-30") for which the Corporation made the accounting policy election of maintaining pools of loans as “units of account” both at the time of adoption of CECL on January 1, 2020 and on an ongoing basis for credit loss measurement. These loans will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The portion of such loans contractually past due 90 days or more, amounting to $ 15.3 million as of June 30, 2022 ($ 14.3 million conventional residential mortgage loans and $ 1.0 million commercial mortgage loans), is presented in the loans past due 90 days or more and still accruing category in the table above. (3) Include rebooked loans, which were previously pooled into GNMA securities, amounting to $ 10.8 million as of June 30, 2022. Under the GNMA program, the Corporation has the option but not the obligation to repurchase loans that meet GNMA’s specified delinquency criteria. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements with an offsetting liability. (4) Nonaccrual loans in the Florida region amounted to $ 7.1 million as of June 30, 2022. (5) Nonaccrual loans exclude $ 345.4 million of TDR loans that were in compliance with modified terms and in accrual status as of June 30, 2022. (6) Includes $ 0.4 million of nonaccrual C&I loans with no ACL in the Florida region as of June 30, 2022. (7) According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, and commercial mortgage loans past due 30-59 days, but less than two payments in arrears, as of June 30, 2022 amounted to $ 6.7 million, $ 61.6 million, and $ 0.7 million, respectively. As of December 31, 2021 Days Past Due and Accruing Current 30-59 60-89 90+ (1) (2) (3) Nonaccrual (4) (5) Total loans held for investment Nonaccrual Loans with no ACL (6) (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (1) (3) (7) $ 57,522 $ - $ 2,355 $ 65,515 $ - $ 125,392 $ - Conventional residential mortgage loans (2) (7) 2,738,111 - 31,832 28,433 55,127 2,853,503 3,689 Commercial loans: Construction loans 136,317 18 - - 2,664 138,999 1,000 Commercial mortgage loans (2) (7) 2,129,375 2,402 436 9,919 25,337 2,167,469 8,289 C&I loans 2,858,397 2,047 1,845 7,827 17,135 2,887,251 11,393 Consumer loans: Auto loans 1,533,445 26,462 4,949 - 6,684 1,571,540 3,146 Finance leases 568,606 4,820 713 - 866 575,005 196 Personal loans 310,390 3,299 1,285 - 1,208 316,182 - Credit cards 282,179 3,158 1,904 2,985 - 290,226 - Other consumer loans 130,588 1,996 811 - 1,696 135,091 20 Total loans held for investment $ 10,744,930 $ 44,202 $ 46,130 $ 114,679 $ 110,717 $ 11,060,658 $ 27,733 (1) It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA, guaranteed by the VA, and other government-insured loans as past-due loans 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured. The Corporation continues accruing interest on these loans until they have passed the 15 months delinquency mark, taking into consideration the FHA interest curtailment process. These balances include $ 46.6 million of residential mortgage loans insured by the FHA that were over 15 months delinquent. (2) Includes PCD loans previously accounted for under ASC Subtopic 310-30 for which the Corporation made the accounting policy election of maintaining pools of loans as “units of account” both at the time of adoption of CECL on January 1, 2020 and on an ongoing basis for credit loss measurement. These loans will continue to be excluded from nonaccrual loan statistics as long as the Corporation can reasonably estimate the timing and amount of cash flows expected to be collected on the loan pools. The portion of such loans contractually past due 90 days or more, amounting to $ 20.6 million as of December 31, 2021 ($ 19.1 million conventional residential mortgage loans and $ 1.5 million commercial mortgage loans), is presented in the loans past due 90 days or more and still accruing category in the table above. (3) Include rebooked loans, which were previously pooled into GNMA securities, amounting to $ 7.2 million as of December 31, 2021. Under the GNMA program, the Corporation has the option but not the obligation to repurchase loans that meet GNMA’s specified delinquency criteria. For accounting purposes, these loans subject to the repurchase option are required to be reflected on the financial statements with an offsetting liability. (4) Nonaccrual loans in the Florida region amounted to $ 8.2 million as of December 31, 2021. (5) Nonaccrual loans exclude $ 363.4 million of TDR loans that were in compliance with modified terms and in accrual status as of December 31, 2021. (6) Includes $ 0.5 million of nonaccrual C&I loans with no ACL in the Florida region as of December 31, 2021. (7) According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, conventional residential mortgage loans, and commercial mortgage loans past due 30-59 days, but less than two payments in arrears, as of December 31, 2021 amounted to $ 6.1 million, $ 66.0 million, and $ 0.7 million, respectively. |
Corporation's Credit Quality Indicators by Loan [Table Text Block] | Based on the most recent analysis performed, the amortized cost of commercial and construction loans by portfolio classes and by origination year based on the internal credit-risk category as of June 30, 2022 and the amortized cost of commercial and construction loans by portfolio classes based on the internal credit-risk category as of December 31, 2021 was as follows: As of June 30, 2022 Puerto Rico and Virgin Islands region Term Loans As of December 31, 2021 Amortized Cost Basis by Origination Year (1) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) CONSTRUCTION Risk Ratings: Pass $ 4,741 $ 12,633 $ 962 $ - $ - $ 3,747 $ - $ 22,083 $ 38,066 Criticized: Special Mention - - - 3 - - - 3 765 Substandard - - - - 274 3,117 - 3,391 4,302 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 4,741 $ 12,633 $ 962 $ 3 $ 274 $ 6,864 $ - $ 25,477 $ 43,133 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 206,946 $ 156,607 $ 361,553 $ 236,728 $ 192,126 $ 328,477 $ 13 $ 1,482,450 $ 1,395,569 Criticized: Special Mention 1,345 - 10,426 84,387 31,055 136,282 - 263,495 259,263 Substandard 140 637 - 2,952 768 34,437 - 38,934 47,399 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 208,431 $ 157,244 $ 371,979 $ 324,067 $ 223,949 $ 499,196 $ 13 $ 1,784,879 $ 1,702,231 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 57,862 $ 234,695 $ 196,485 $ 333,737 $ 134,771 $ 271,681 $ 542,321 $ 1,771,552 $ 1,852,552 Criticized: Special Mention 1,037 9,395 1,293 - 239 5,696 16,010 33,670 32,650 Substandard 37 4,138 1,397 14,084 2,015 34,494 7,823 63,988 61,395 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial and industrial loans $ 58,936 $ 248,228 $ 199,175 $ 347,821 $ 137,025 $ 311,871 $ 566,154 $ 1,869,210 $ 1,946,597 (1) Excludes accrued interest receivable. As of June 30, 2022 Term Loans As of December 31, 2021 Florida region Amortized Cost Basis by Origination Year (1) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) CONSTRUCTION Risk Ratings: Pass $ 45,275 $ 44,085 $ - $ 103 $ - $ - $ 370 $ 89,833 $ 95,866 Criticized: Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 45,275 $ 44,085 $ - $ 103 $ - $ - $ 370 $ 89,833 $ 95,866 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 108,137 $ 80,960 $ 43,270 $ 57,206 $ 83,347 $ 73,388 $ 16,955 $ 463,263 $ 404,304 Criticized: Special Mention - - 7,062 13,430 - - - 20,492 60,618 Substandard - - 1,168 - - 311 - 1,479 316 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 108,137 $ 80,960 $ 51,500 $ 70,636 $ 83,347 $ 73,699 $ 16,955 $ 485,234 $ 465,238 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 141,496 $ 188,753 $ 93,852 $ 204,060 $ 56,694 $ 60,919 $ 122,712 $ 868,486 $ 826,823 Criticized: Special Mention - - - 14,682 13,075 12,363 22,162 62,282 49,946 Substandard - - 24,196 33,964 - 4,444 335 62,939 63,885 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial and industrial loans $ 141,496 $ 188,753 $ 118,048 $ 252,706 $ 69,769 $ 77,726 $ 145,209 $ 993,707 $ 940,654 (1) Excludes accrued interest receivable. As of June 30, 2022 Total Term Loans As of December 31, 2021 Amortized Cost Basis by Origination Year (1) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total (In thousands) CONSTRUCTION Risk Ratings: Pass $ 50,016 $ 56,718 $ 962 $ 103 $ - $ 3,747 $ 370 $ 111,916 $ 133,932 Criticized: Special Mention - - - 3 - - - 3 765 Substandard - - - - 274 3,117 - 3,391 4,302 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 50,016 $ 56,718 $ 962 $ 106 $ 274 $ 6,864 $ 370 $ 115,310 $ 138,999 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 315,083 $ 237,567 $ 404,823 $ 293,934 $ 275,473 $ 401,865 $ 16,968 $ 1,945,713 $ 1,799,873 Criticized: Special Mention 1,345 - 17,488 97,817 31,055 136,282 - 283,987 319,881 Substandard 140 637 1,168 2,952 768 34,748 - 40,413 47,715 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 316,568 $ 238,204 $ 423,479 $ 394,703 $ 307,296 $ 572,895 $ 16,968 $ 2,270,113 $ 2,167,469 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 199,358 $ 423,448 $ 290,337 $ 537,797 $ 191,465 $ 332,600 $ 665,033 $ 2,640,038 $ 2,679,375 Criticized: Special Mention 1,037 9,395 1,293 14,682 13,314 18,059 38,172 95,952 82,596 Substandard 37 4,138 25,593 48,048 2,015 38,938 8,158 126,927 125,280 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial and industrial loans $ 200,432 $ 436,981 $ 317,223 $ 600,527 $ 206,794 $ 389,597 $ 711,363 $ 2,862,917 $ 2,887,251 (1) Excludes accrued interest receivable. The following tables present the amortized cost of residential mortgage loans by origination year based on accrual status as of June 30, 2022, and the amortized cost of residential mortgage loans by accrual status as of December 31, 2021: As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Puerto Rico and Virgin Islands Region: FHA/VA government-guaranteed loans Accrual Status: Performing $ - $ 657 $ 871 $ 1,240 $ 2,924 $ 114,736 $ - $ 120,428 $ 124,652 Non-Performing - - - - - - - - - Total FHA/VA government-guaranteed loans $ - $ 657 $ 871 $ 1,240 $ 2,924 $ 114,736 $ - $ 120,428 $ 124,652 Conventional residential mortgage loans: Accrual Status: Performing $ 78,843 $ 78,100 $ 32,608 $ 50,519 $ 78,967 $ 1,966,451 $ - $ 2,285,488 $ 2,376,946 Non-Performing - 35 77 113 279 38,112 - 38,616 47,975 Total conventional residential mortgage loans $ 78,843 $ 78,135 $ 32,685 $ 50,632 $ 79,246 $ 2,004,563 $ - $ 2,324,104 $ 2,424,921 Total: Accrual Status: Performing $ 78,843 $ 78,757 $ 33,479 $ 51,759 $ 81,891 $ 2,081,187 $ - $ 2,405,916 $ 2,501,598 Non-Performing - 35 77 113 279 38,112 - 38,616 47,975 Total residential mortgage loans in Puerto Rico and Virgin Islands Region $ 78,843 $ 78,792 $ 33,556 $ 51,872 $ 82,170 $ 2,119,299 $ - $ 2,444,532 $ 2,549,573 (1) Excludes accrued interest receivable. As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Florida Region: FHA/VA government-guaranteed loans Accrual Status: Performing $ - $ - $ - $ - $ - $ 732 $ - $ 732 $ 740 Non-Performing - - - - - - - - - Total FHA/VA government-guaranteed loans $ - $ - $ - $ - $ - $ 732 $ - $ 732 $ 740 Conventional residential mortgage loans: Accrual Status: Performing $ 35,617 $ 50,948 $ 33,258 $ 34,427 $ 41,198 $ 205,001 $ - $ 400,449 $ 421,430 Non-Performing - - - 281 - 5,691 - 5,972 7,152 Total conventional residential mortgage loans $ 35,617 $ 50,948 $ 33,258 $ 34,708 $ 41,198 $ 210,692 $ - $ 406,421 $ 428,582 Total: Accrual Status: Performing $ 35,617 $ 50,948 $ 33,258 $ 34,427 $ 41,198 $ 205,733 $ - $ 401,181 $ 422,170 Non-Performing - - - 281 - 5,691 - 5,972 7,152 Total residential mortgage loans in Florida region $ 35,617 $ 50,948 $ 33,258 $ 34,708 $ 41,198 $ 211,424 $ - $ 407,153 $ 429,322 (1) Excludes accrued interest receivable. As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Total: FHA/VA government-guaranteed loans Accrual Status: Performing $ - $ 657 $ 871 $ 1,240 $ 2,924 $ 115,468 $ - $ 121,160 $ 125,392 Non-Performing - - - - - - - - - Total FHA/VA government-guaranteed loans $ - $ 657 $ 871 $ 1,240 $ 2,924 $ 115,468 $ - $ 121,160 $ 125,392 Conventional residential mortgage loans: Accrual Status: Performing $ 114,460 $ 129,048 $ 65,866 $ 84,946 $ 120,165 $ 2,171,452 $ - $ 2,685,937 $ 2,798,376 Non-Performing - 35 77 394 279 43,803 - 44,588 55,127 Total conventional residential mortgage loans $ 114,460 $ 129,083 $ 65,943 $ 85,340 $ 120,444 $ 2,215,255 $ - $ 2,730,525 $ 2,853,503 Total: Accrual Status: Performing $ 114,460 $ 129,705 $ 66,737 $ 86,186 $ 123,089 $ 2,286,920 $ - $ 2,807,097 $ 2,923,768 Non-Performing - 35 77 394 279 43,803 - 44,588 55,127 Total residential mortgage loans $ 114,460 $ 129,740 $ 66,814 $ 86,580 $ 123,368 $ 2,330,723 $ - $ 2,851,685 $ 2,978,895 (1) Excludes accrued interest receivable. The following tables present the amortized cost of consumer loans by origination year based on accrual status as of June 30, 2022 and the amortized cost of consumer loans by accrual status as of December 31, 2021: As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Puerto Rico and Virgin Islands Region: Auto loans: Accrual Status: Performing $ 379,265 $ 579,362 $ 298,766 $ 250,492 $ 126,132 $ 63,509 $ - $ 1,697,526 $ 1,556,097 Non-Performing 65 1,170 883 1,810 1,415 1,504 - 6,847 6,684 Total auto loans $ 379,330 $ 580,532 $ 299,649 $ 252,302 $ 127,547 $ 65,013 $ - $ 1,704,373 $ 1,562,781 Finance leases: Accrual Status: Performing $ 140,447 $ 210,366 $ 100,710 $ 96,801 $ 60,908 $ 23,502 $ - $ 632,734 $ 574,139 Non-Performing - 120 166 238 282 241 - 1,047 866 Total finance leases $ 140,447 $ 210,486 $ 100,876 $ 97,039 $ 61,190 $ 23,743 $ - $ 633,781 $ 575,005 Personal loans: Accrual Status: Performing $ 87,793 $ 70,988 $ 39,484 $ 72,802 $ 32,609 $ 22,191 $ - $ 325,867 $ 314,867 Non-Performing 6 157 107 362 145 116 - 893 1,208 Total personal loans $ 87,799 $ 71,145 $ 39,591 $ 73,164 $ 32,754 $ 22,307 $ - $ 326,760 $ 316,075 Credit cards: Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ 297,289 $ 297,289 $ 290,226 Non-Performing - - - - - - - - - Total credit cards $ - $ - $ - $ - $ - $ - $ 297,289 $ 297,289 $ 290,226 Other consumer loans: Accrual Status: Performing $ 44,438 $ 34,988 $ 12,563 $ 17,666 $ 6,089 $ 5,682 $ 8,676 $ 130,102 $ 126,734 Non-Performing 38 256 113 191 36 551 139 1,324 1,563 Total other consumer loans $ 44,476 $ 35,244 $ 12,676 $ 17,857 $ 6,125 $ 6,233 $ 8,815 $ 131,426 $ 128,297 Total: Performing $ 651,943 $ 895,704 $ 451,523 $ 437,761 $ 225,738 $ 114,884 $ 305,965 $ 3,083,518 $ 2,862,063 Non-Performing 109 1,703 1,269 2,601 1,878 2,412 139 10,111 10,321 Total consumer loans in Puerto Rico and Virgin Islands region $ 652,052 $ 897,407 $ 452,792 $ 440,362 $ 227,616 $ 117,296 $ 306,104 $ 3,093,629 $ 2,872,384 (1) Excludes accrued interest receivable. As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Florida Region: Auto loans: Accrual Status: Performing $ - $ - $ - $ 444 $ 3,358 $ 1,985 $ - $ 5,787 $ 8,759 Non-Performing - - - 7 48 14 - 69 - Total auto loans $ - $ - $ - $ 451 $ 3,406 $ 1,999 $ - $ 5,856 $ 8,759 Finance leases: Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ - $ - $ - Non-Performing - - - - - - - - - Total finance leases $ - $ - $ - $ - $ - $ - $ - $ - $ - Personal loans: Accrual Status: Performing $ 298 $ 72 $ 16 $ - $ - $ - $ - $ 386 $ 107 Non-Performing - - - - - - - - - Total personal loans $ 298 $ 72 $ 16 $ - $ - $ - $ - $ 386 $ 107 Credit cards: Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ - $ - $ - Non-Performing - - - - - - - - - Total credit cards $ - $ - $ - $ - $ - $ - $ - $ - $ - Other consumer loans: Accrual Status: Performing $ 50 $ 234 $ 473 $ - $ 40 $ 3,032 $ 3,014 $ 6,843 $ 6,661 Non-Performing - - - - - 23 112 135 133 Total other consumer loans $ 50 $ 234 $ 473 $ - $ 40 $ 3,055 $ 3,126 $ 6,978 $ 6,794 Total: Performing $ 348 $ 306 $ 489 $ 444 $ 3,398 $ 5,017 $ 3,014 $ 13,016 $ 15,527 Non-Performing - - - 7 48 37 112 204 133 Total consumer loans in Florida region $ 348 $ 306 $ 489 $ 451 $ 3,446 $ 5,054 $ 3,126 $ 13,220 $ 15,660 (1) Excludes accrued interest receivable. As of June 30, 2022 As of December 31, 2021 Term Loans Amortized Cost Basis by Origination Year (1) (In thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Total Total: Auto loans: Accrual Status: Performing $ 379,265 $ 579,362 $ 298,766 $ 250,936 $ 129,490 $ 65,494 $ - $ 1,703,313 $ 1,564,856 Non-Performing 65 1,170 883 1,817 1,463 1,518 - 6,916 6,684 Total auto loans $ 379,330 $ 580,532 $ 299,649 $ 252,753 $ 130,953 $ 67,012 $ - $ 1,710,229 $ 1,571,540 Finance leases: Accrual Status: Performing $ 140,447 $ 210,366 $ 100,710 $ 96,801 $ 60,908 $ 23,502 $ - $ 632,734 $ 574,139 Non-Performing - 120 166 238 282 241 - 1,047 866 Total finance leases $ 140,447 $ 210,486 $ 100,876 $ 97,039 $ 61,190 $ 23,743 $ - $ 633,781 $ 575,005 Personal loans: Accrual Status: Performing $ 88,091 $ 71,060 $ 39,500 $ 72,802 $ 32,609 $ 22,191 $ - $ 326,253 $ 314,974 Non-Performing 6 157 107 362 145 116 - 893 1,208 Total personal loans $ 88,097 $ 71,217 $ 39,607 $ 73,164 $ 32,754 $ 22,307 $ - $ 327,146 $ 316,182 Credit cards: Accrual Status: Performing $ - $ - $ - $ - $ - $ - $ 297,289 $ 297,289 $ 290,226 Non-Performing - - - - - - - - - Total credit cards $ - $ - $ - $ - $ - $ - $ 297,289 $ 297,289 $ 290,226 Other consumer loans: Accrual Status: Performing $ 44,488 $ 35,222 $ 13,036 $ 17,666 $ 6,129 $ 8,714 $ 11,690 $ 136,945 $ 133,395 Non-Performing 38 256 113 191 36 574 251 1,459 1,696 Total other consumer loans $ 44,526 $ 35,478 $ 13,149 $ 17,857 $ 6,165 $ 9,288 $ 11,941 $ 138,404 $ 135,091 Total: Performing $ 652,291 $ 896,010 $ 452,012 $ 438,205 $ 229,136 $ 119,901 $ 308,979 $ 3,096,534 $ 2,877,590 Non-Performing 109 1,703 1,269 2,608 1,926 2,449 251 10,315 10,454 Total consumer loans $ 652,400 $ 897,713 $ 453,281 $ 440,813 $ 231,062 $ 122,350 $ 309,230 $ 3,106,849 $ 2,888,044 (1) Excludes accrued interest receivable. |
Collateral Pledged [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan Portfolio Held for Investment [Table Text Block] | June 30, 2022 Collateral Dependent Loans - With Allowance Collateral Dependent Loans - With No Related Allowance Collateral Dependent Loans - Total Amortized Cost Related Allowance Amortized Cost Amortized Cost Related Allowance (In thousands) Residential mortgage loans: FHA/VA government-guaranteed loans $ - $ - $ - $ - $ - Conventional residential mortgage loans 41,823 3,122 818 42,641 3,122 Commercial loans: Construction loans - - 1,230 1,230 - Commercial mortgage loans 11,748 1,707 54,807 66,555 1,707 C&I loans 17,937 3,029 20,791 38,728 3,029 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans 57 1 - 57 1 Credit cards - - - - - Other consumer loans 568 75 - 568 75 $ 72,133 $ 7,934 $ 77,646 $ 149,779 $ 7,934 December 31, 2021 Collateral Dependent Loans - With Allowance Collateral Dependent Loans - With No Related Allowance Collateral Dependent Loans - Total Amortized Cost Related Allowance Amortized Cost Amortized Cost Related Allowance (In thousands) Residential mortgage loans: FHA/VA government-guaranteed loans $ - $ - $ - $ - $ - Conventional residential mortgage loans 51,771 3,966 781 52,552 3,966 Commercial loans: Construction loans - - 1,797 1,797 - Commercial mortgage loans 9,908 1,152 56,361 66,269 1,152 C&I loans 5,781 670 34,043 39,824 670 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans 78 1 - 78 1 Credit cards - - - - - Other consumer loans 782 98 - 782 98 $ 68,320 $ 5,887 $ 92,982 $ 161,302 $ 5,887 |
TDR [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Troubled Debt Restructurings On Financing Receivables Table [Text Block] | The following tables present TDR loans completed during the quarters and six-month periods ended June 30, 2022 and 2021 : Quarter Ended June 30, 2022 Interest rate below market Maturity or term extension Combination of reduction in interest rate and extension of maturity Forgiveness of principal and/or interest Forbearance Agreement Other (1) Total (In thousands) TDRs: Conventional residential mortgage loans $ - $ 621 $ - $ - $ - $ 830 $ 1,451 Construction loans - - - - - - - Commercial mortgage loans - 245 5,178 - - 467 5,890 C&I loans 400 - - 825 - 1,078 2,303 Consumer loans: Auto loans 667 30 33 - - - 730 Finance leases - 123 - - - - 123 Personal loans 99 - 8 - - - 107 Credit cards - - 206 - - - 206 Other consumer loans 50 26 - 9 - - 85 Total TDRs $ 1,216 $ 1,045 $ 5,425 $ 834 $ - $ 2,375 $ 10,895 (1) Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of two or more of the concessions listed in the table. Amounts included in Other that represent a combination of concessions are excluded from the amounts reported in the column for such individual concessions. Six-Month Period Ended June 30, 2022 Interest rate below market Maturity or term extension Combination of reduction in interest rate and extension of maturity Forgiveness of principal and/or interest Forbearance Agreement Other (1) Total (In thousands) TDRs: Conventional residential mortgage loans $ 215 $ 1,352 $ 190 $ - $ - $ 2,687 $ 4,444 Construction loans - - - - - - - Commercial mortgage loans - 245 5,178 - - 467 5,890 C&I loans 400 - - 825 - 1,083 2,308 Consumer loans: Auto loans 667 30 33 - - 993 1,723 Finance leases - 123 - - - 264 387 Personal loans 99 - 8 - - 78 185 Credit cards - - 395 - - - 395 Other consumer loans 83 132 - 18 - - 233 Total TDRs $ 1,464 $ 1,882 $ 5,804 $ 843 $ - $ 5,572 $ 15,565 (1) Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of two or more of the concessions listed in the table. Amounts included in Other that represent a combination of concessions are excluded from the amounts reported in the column for such individual concessions. Quarter Ended June 30, 2021 Interest rate below market Maturity or term extension Combination of reduction in interest rate and extension of maturity Forgiveness of principal and/or interest Forbearance Agreement Other (1) Total (In thousands) TDRs: Conventional residential mortgage loans $ 20 $ - $ 934 $ - $ - $ 577 $ 1,531 Construction loans - - - - - - - Commercial mortgage loans - - 90 - - 442 532 C&I loans - 300 - - - 171 471 Consumer loans: Auto loans 24 - 27 - - 575 626 Finance leases - 49 - - - 124 173 Personal loans - 15 31 - - 161 207 Credit cards - - 530 - - - 530 Other consumer loans 12 12 - 25 - - 49 Total TDRs $ 56 $ 376 $ 1,612 $ 25 $ - $ 2,050 $ 4,119 (1) Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of two or more of the concessions listed in the table. Amounts included in Other that represent a combination of concessions are excluded from the amounts reported in the column for such individual concessions. Six-Month Period Ended June 30, 2021 Interest rate below market Maturity or term extension Combination of reduction in interest rate and extension of maturity Forgiveness of principal and/or interest Forbearance Agreement Other (1) Total (In thousands) TDRs: Conventional residential mortgage loans $ 20 $ - $ 1,513 $ - $ - $ 1,264 $ 2,797 Construction loans - - - - - - - Commercial mortgage loans - - 255 - - 442 697 C&I loans - 300 - - - 171 471 Consumer loans: Auto loans 24 - 27 - - 1,390 1,441 Finance leases - 49 - - - 312 361 Personal loans - 15 31 - - 187 233 Credit cards - - 964 - - - 964 Other consumer loans 28 40 - 46 - 60 174 Total TDRs $ 72 $ 404 $ 2,790 $ 46 $ - $ 3,826 $ 7,138 (1) Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of two or more of the concessions listed in the table. Amounts included in Other that represent a combination of concessions are excluded from the amounts reported in the column for such individual concessions. Quarter Ended June 30, 2022 Quarter Ended June 30, 2021 Number of contracts Pre-modification Amortized Cost Post-modification Amortized Cost Number of contracts Pre-modification Amortized Cost Post-modification Amortized Cost (Dollars in thousands) TDRs: Conventional residential mortgage loans 14 $ 1,452 $ 1,451 14 $ 1,531 $ 1,531 Construction loans - - - - - - Commercial mortgage loans 3 5,897 5,890 2 493 532 C&I loans 11 2,531 2,303 2 594 471 Consumer loans: Auto loans 37 727 730 34 622 626 Finance leases 8 123 123 10 171 173 Personal loans 7 107 107 17 201 207 Credit Cards 45 206 206 98 530 530 Other consumer loans 21 82 85 11 49 49 Total TDRs 146 $ 11,125 $ 10,895 188 $ 4,191 $ 4,119 Six-Month Period Ended June 30, 2022 Six-Month Period Ended June 30, 2021 Number of contracts Pre-modification Amortized Cost Post-modification Amortized Cost Number of contracts Pre-modification Amortized Cost Post-modification Amortized Cost (Dollars in thousands) TDRs: Conventional residential mortgage loans 37 $ 4,448 $ 4,444 25 $ 2,898 $ 2,797 Construction loans - - - - - - Commercial mortgage loans 3 5,897 5,890 4 658 697 C&I loans 12 2,536 2,308 2 594 471 Consumer loans: Auto loans 88 1,722 1,723 79 1,440 1,441 Finance leases 21 387 387 23 360 361 Personal loans 12 185 185 23 227 233 Credit Cards 89 395 395 163 964 964 Other consumer loans 48 228 233 41 174 174 Total TDRs 310 $ 15,798 $ 15,565 360 $ 7,315 $ 7,138 Loan modifications considered TDR loans that defaulted (failure by the borrower to make payments of either principal, interest, or both for a period of 90 days or more) during the quarters and six-month periods ended June 30, 2022 and 2021, and had become TDR loans during the 12-months preceding the default date, were as follows: Quarter Ended June 30, 2022 Quarter Ended June 30, 2021 Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans 1 $ 95 - $ - Construction loans - - - - Commercial mortgage loans - - - - C&I loans - - - - Consumer loans: Auto loans 20 376 17 174 Finance leases - - - - Personal loans - - - - Credit cards 14 62 11 86 Other consumer loans 2 6 2 3 Total 37 $ 539 30 $ 263 Six-Month Period Ended June 30, 2022 Six-Month Period Ended June 30, 2021 Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans 4 $ 484 2 $ 178 Construction loans - - - - Commercial mortgage loans - - - - C&I loans - - - - Consumer loans: Auto loans 44 898 46 731 Finance leases 1 16 - - Personal loans - - - - Credit cards 25 141 12 93 Other consumer loans 4 17 9 36 Total 78 $ 1,556 69 $ 1,038 |
ALLOWANCE FOR CREDIT LOSSES O_2
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Allowance for Credit Loss [Abstract] | |
Allowance For Credit Losses On Financing Receivables Table [Text Block] | The following table presents the activity in the ACL for loans and finance leases by portfolio segment for the indicated periods: Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Quarter Ended June 30, 2022 (In thousands) ACL: Beginning balance $ 68,820 $ 1,842 $ 30,138 $ 36,784 $ 107,863 $ 245,447 Provision for credit losses - (benefit) expense ( 2,797) 151 1,265 ( 1,102) 15,148 12,665 Charge-offs ( 2,079) ( 16) ( 2) ( 68) ( 10,427) ( 12,592) Recoveries 1,287 43 1,218 589 3,495 6,632 Ending balance $ 65,231 $ 2,020 $ 32,619 $ 36,203 $ 116,079 $ 252,152 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Six-Month Period Ended June 30, 2022 (In thousands) ACL: Beginning balance $ 74,837 $ 4,048 $ 52,771 $ 34,284 $ 103,090 $ 269,030 Provision for credit losses - (benefit) expense ( 7,668) ( 2,063) ( 21,375) 653 26,129 ( 4,324) Charge-offs ( 4,607) ( 60) ( 39) ( 358) ( 20,243) ( 25,307) Recoveries 2,669 95 1,262 1,624 7,103 12,753 Ending balance $ 65,231 $ 2,020 $ 32,619 $ 36,203 $ 116,079 $ 252,152 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial & Industrial Loans Consumer Loans Total Quarter Ended June 30, 2021 (In thousands) ACL: Beginning balance $ 114,044 $ 4,915 $ 99,782 $ 32,087 $ 108,108 $ 358,936 Provision for credit losses - expense (benefit) 825 ( 196) ( 27,299) ( 426) 794 ( 26,302) Charge-offs ( 2,927) - ( 81) ( 60) ( 14,798) ( 17,866) Recoveries 940 38 50 5,869 3,293 10,190 Ending balance $ 112,882 $ 4,757 $ 72,452 $ 37,470 $ 97,397 $ 324,958 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial & Industrial Loans Consumer Loans Total Six-Month Period Ended June 30, 2021 (In thousands) ACL: Beginning balance $ 120,311 $ 5,380 $ 109,342 $ 37,944 $ 112,910 $ 385,887 Provision for credit losses - (benefit) expense ( 3,350) ( 652) ( 36,119) ( 5,738) 5,114 ( 40,745) Charge-offs ( 5,752) ( 45) ( 875) ( 869) ( 26,559) ( 34,100) Recoveries 1,673 74 104 6,133 5,932 13,916 Ending balance $ 112,882 $ 4,757 $ 72,452 $ 37,470 $ 97,397 $ 324,958 The tables below present the ACL related to loans and finance leases and the carrying value of loans by portfolio segment as of June 30, 2022 and December 31, 2021: Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial and Industrial Loans (1) Consumer Loans Total As of June 30, 2022 (Dollars in thousands) Total loans held for investment: Amortized cost of loans $ 2,851,685 $ 115,310 $ 2,270,113 $ 2,862,917 $ 3,106,849 $ 11,206,874 Allowance for credit losses 65,231 2,020 32,619 36,203 116,079 252,152 Allowance for credit losses to amortized cost 2.29 % 1.75 % 1.44 % 1.26 % 3.74 % 2.25 % As of December 31, 2021 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial and Industrial Loans (1) Consumer Loans Total (Dollars in thousands) Total loans held for investment: Amortized cost of loans $ 2,978,895 $ 138,999 $ 2,167,469 $ 2,887,251 $ 2,888,044 11,060,658 Allowance for credit losses 74,837 4,048 52,771 34,284 103,090 269,030 Allowance for credit losses to amortized cost 2.51 % 2.91 % 2.43 % 1.19 % 3.57 % 2.43 % (1) As of June 30, 2022 and December 31, 2021, includes $ 49.4 million and $ 145.0 million of SBA PPP loans, respectively, which require no ACL as these loans are 100% guaranteed by the SBA. Quarter Ended Six-Month Period Ended June 30, June 30, 2022 2021 2022 2021 (In thousands) Beginning Balance $ 1,359 $ 4,399 $ 1,537 $ 5,105 Provision for credit losses - expense (benefit) 812 ( 1,669) 634 ( 2,375) Ending balance $ 2,171 $ 2,730 $ 2,171 $ 2,730 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | |
Schedule Of Other Real Estate Assets And Foreclosed Properties [Table Text Block] | The following table presents the OREO inventory as of the indicated dates: June 30, December 31, 2022 2021 (In thousands) OREO OREO balances, carrying value: Residential (1) $ 31,780 $ 29,533 Commercial 7,269 7,331 Construction 2,657 3,984 Total $ 41,706 $ 40,848 (1) Excludes $ 25.7 million and $ 22.2 million as of June 30, 2022 and December 31, 2021, respectively, of foreclosures that meet the conditions of ASC Subtopic 310-40 "Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure," and are presented as a receivable as part of other assets in the consolidated statements of financial condition. |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill and other Intangible Assets [Abstract] | |
Schedule of Goodwill [Table Text Block] | Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking United States Operations Total (In thousands) Goodwill, January 1, 2020 $ - $ 1,406 $ - $ 26,692 $ 28,098 Merger and acquisitions (1) 574 794 4,935 - 6,303 Measurement period adjustment (1) 385 533 3,313 - 4,231 Goodwill, December 31, 2020 $ 959 $ 2,733 $ 8,248 $ 26,692 $ 38,632 Measurement period adjustment (2) 53 74 ( 148) - ( 21) Goodwill, June 30, 2021 $ 1,012 $ 2,807 $ 8,100 $ 26,692 $ 38,611 (1) Recognized in connection with the BSPR acquisition on September 1, 2020. Refer to Note 2 - Business Combination included in the 2021 Annual Report on Form 10-K for additional information. (2) Relates to the fair value estimate update performed within one year of the closing of the BSPR acquisition, in accordance with ASC Topic 805, "Business Combinations"("ASC 805"). |
Gross Amount and Accumulated Amortization of Other Intangible Assets [Table Text Block] | The following table shows the gross amount and accumulated amortization of the Corporation’s intangible assets subject to amortization as of the indicated dates: As of As of June 30, December 31, 2022 2021 (Dollars in thousands) Core deposit intangible: Gross amount $ 87,544 $ 87,544 Accumulated amortization ( 62,808) ( 58,973) Net carrying amount $ 24,736 $ 28,571 Remaining amortization period (in years) 7.5 8.0 Purchased credit card relationship intangible: Gross amount $ 3,800 $ 3,800 Accumulated amortization ( 3,201) ( 2,602) Net carrying amount $ 599 $ 1,198 Remaining amortization period (in years) 1.2 1.7 Insurance customer relationship intangible: Gross amount $ 1,067 $ 1,067 Accumulated amortization ( 978) ( 902) Net carrying amount $ 89 $ 165 Remaining amortization period (in years) 0.6 1.1 |
Schedule of Expected Amortization Expense [Table Text Block] | Amount (In thousands) 2022 $ 4,305 2023 7,736 2024 6,416 2025 3,509 2026 872 2027 and after 2,586 |
NON-CONSOLIDATED VARIABLE INT_2
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Transfers and Servicing [Abstract] | |
Changes in Servicing Assets [Table Text Block] | The changes in MSRs are shown below for the indicated periods: Quarter Ended Six-Month Period Ended June 30, June 30, (In thousands) 2022 2021 2022 2021 Balance at beginning of period $ 30,753 $ 32,710 $ 30,986 $ 33,071 Capitalization of servicing assets 828 1,550 1,958 2,900 Amortization ( 1,273) ( 1,920) ( 2,603) ( 3,557) Temporary impairment recoveries, net 9 30 64 37 Other (1) ( 40) ( 35) ( 128) ( 116) Balance at end of period $ 30,277 $ 32,335 $ 30,277 $ 32,335 (1) Represents adjustments related to the repurchase of loans serviced for others. |
Changes in Impairment Allowance [Table Text Block] | Changes in the impairment allowance were as follows for the indicated periods: Quarter Ended Six-Month Period Ended June 30, June 30, 2022 2021 2022 2021 (In thousands) Balance at beginning of period $ 23 $ 195 $ 78 $ 202 Recoveries ( 9) ( 30) ( 64) ( 37) Balance at end of period $ 14 $ 165 $ 14 $ 165 |
Components of Net Servicing Income [Table Text Block] | The components of net servicing income, included as part of mortgage banking activities in the consolidated statements of income, are shown below for the indicated periods: Quarter Ended Six-Month Period Ended June 30, June 30, 2022 2021 2022 2021 (In thousands) Servicing fees $ 2,821 $ 3,018 $ 5,640 $ 5,933 Late charges and prepayment penalties 219 217 413 456 Adjustment for loans repurchased ( 40) ( 35) ( 128) ( 116) Servicing income, gross 3,000 3,200 5,925 6,273 Amortization and impairment of servicing assets ( 1,264) ( 1,890) ( 2,539) ( 3,520) Servicing income, net $ 1,736 $ 1,310 $ 3,386 $ 2,753 |
Key Economic Assumptions Used in Determining Fair Value at Time of Sale of Loans [Table Text Block] | The Corporation’s MSRs are subject to prepayment and interest rate risks. Key economic assumptions used in determining the fair value at the time of sale of the related mortgages for the indicated periods ranged as follows: Weighted Average Maximum Minimum Six-Month Period Ended June 30, 2022: Constant prepayment rate: Government-guaranteed mortgage loans 6.7 % 18.3 % 4.8 % Conventional conforming mortgage loans 6.6 % 18.4 % 3.4 % Conventional non-conforming mortgage loans 6.3 % 21.9 % 4.5 % Discount rate: Government-guaranteed mortgage loans 11.9 % 12.0 % 11.5 % Conventional conforming mortgage loans 9.9 % 10.0 % 9.5 % Conventional non-conforming mortgage loans 12.4 % 14.5 % 11.5 % Six-Month Period Ended June 30, 2021: Constant prepayment rate: Government-guaranteed mortgage loans 6.1 % 14.0 % 3.7 % Conventional conforming mortgage loans 6.2 % 17.4 % 2.8 % Conventional non-conforming mortgage loans - % - % - % Discount rate: Government-guaranteed mortgage loans 12.0 % 12.0 % 12.0 % Conventional conforming mortgage loans 10.0 % 10.0 % 10.0 % Conventional non-conforming mortgage loans - % - % - % |
Weighted-Averages of Key Economic Assumptions in Valuation Model [Table Text Block] | The weighted averages of the key economic assumptions that the Corporation used in its valuation model and the sensitivity of the current fair value to immediate 10% and 20% adverse changes in those assumptions for mortgage loans as of June 30, 2022 and December 31, 2021 were as follows: June 30, December 31, (Dollars in thousands) 2022 2021 Carrying amount of servicing assets $ 30,277 $ 30,986 Fair value $ 44,337 $ 42,132 Weighted-average expected life (in years) 7.94 7.96 Constant prepayment rate (weighted-average annual rate) 6.48 % 6.55 % Decrease in fair value due to 10% adverse change $ 1,044 $ 1,027 Decrease in fair value due to 20% adverse change $ 2,046 $ 2,011 Discount rate (weighted-average annual rate) 11.17 % 11.17 % Decrease in fair value due to 10% adverse change $ 1,962 $ 1,852 Decrease in fair value due to 20% adverse change $ 3,770 $ 3,561 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Deposits [Abstract] | |
Summary of Deposit Balances [Table Text Block] | The following table summarizes deposit balances as of the indicated dates: June 30, 2022 December 31, 2021 (In thousands) Type of account: Non-interest-bearing deposit accounts $ 6,286,922 $ 7,027,513 Interest-bearing saving accounts 4,515,416 4,729,387 Interest-bearing checking accounts 4,137,295 3,492,645 Certificates of deposit ("CDs") 2,126,376 2,434,932 Brokered CDs 74,119 100,417 Total $ 17,140,128 $ 17,784,894 |
Schedule of contractual maturities of CDs | The following table presents the contractual maturities of CDs, including brokered CDs, as of June 30, 2022: Total (In thousands) Three months or less $ 572,584 Over three months to six months 381,963 Over six months to one year 584,351 Over one year to two years 357,337 Over two years to three years 160,362 Over three years to four years 59,798 Over four years to five years 77,232 Over five years 6,868 Total $ 2,200,495 |
Schedule of Interest Expenses on Deposits [Table Text Block] | The following were the components of interest expense on deposits for the indicated periods: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Interest expense on deposits $ 7,757 $ 11,117 $ 15,574 $ 23,842 Accretion of premiums from acquisitions ( 92) ( 390) ( 292) ( 846) Amortization of broker placement fees 29 55 64 128 Total interest expense on deposits $ 7,694 $ 10,782 $ 15,346 $ 23,124 |
SECURITIES SOLD UNDER AGREEME_2
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Disclosure of Repurchase Agreements [Abstract] | |
Schedule Of Repurchase Agreements [Table Text Block] | Securities sold under agreements to repurchase (repurchase agreements) as of the indicated dates consisted of the following: June 30, 2022 December 31, 2021 (In thousands) Long-term fixed-rate repurchase agreements (1) $ 200,000 $ 300,000 (1) Weighted-average interest rate of 3.90% and 3.35% as of June 30, 2022 and December 31, 2021, respectively. The repurchase agreements mature as follows as of the indicated date: June 30, 2022 (In thousands) Over one year to three years $ 200,000 Weighted-Average Counterparty Amount Maturity (In months) (Dollars in thousands) Credit Suisse First Boston $ 200,000 31 |
ADVANCES FROM THE FEDERAL HOM_2
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Federal Home Loan Bank, Advances, Fixed Rate [Abstract] | |
Summary of Advances from FHLB [Table Text Block] | The following is a summary of the advances from the FHLB as of the indicated dates: June 30, December 31, 2022 2021 (In thousands) Long-term rate advances from FHLB (1) $ 200,000 $ 200,000 (1) Weighted-average interest rate of 2.16% as of each of June 30, 2022 and December 31, 2021. Advances from FHLB mature as follows as of the indicated date: June 30, 2022 (In thousands) Over one to three months $ 200,000 |
OTHER BORROWINGS (Tables)
OTHER BORROWINGS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Subordinated Borrowings [Abstract] | |
Components of Other Borrowings [Table Text Block] | Other borrowings, as of the indicated dates, consisted of: June 30, December 31, 2022 2021 (In thousands) Floating rate junior subordinated debentures (FBP Statutory Trust I) (1) $ 65,205 $ 65,205 Floating rate junior subordinated debentures (FBP Statutory Trust II) (2) 118,557 118,557 $ 183,762 $ 183,762 (1) Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.75% over 3-month LIBOR ( 4.78% as of June 30, 2022 and 2.97% as of December 31, 2021). (2) Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.50% over 3-month LIBOR ( 4.60% as of June 30, 2022 and 2.71% as of December 31, 2021). |
EARNINGS PER COMMON SHARE (Tabl
EARNINGS PER COMMON SHARE (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Calculations of Earnings Per Common Share [Table Text Block] | The calculations of earnings per common share for the quarters and six-month periods ended June 30, 2022 and 2021 are as follows: Quarter Ended Six-Month Period Ended June 30, June 30, 2022 2021 2022 2021 (In thousands, except per share information) Net income $ 74,695 $ 70,558 $ 157,295 $ 131,708 Less: Preferred stock dividends - ( 669) - ( 1,338) Net income attributable to common stockholders $ 74,695 $ 69,889 $ 157,295 $ 130,370 Weighted-Average Shares: Average common shares outstanding 194,405 213,574 196,257 215,294 Average potential dilutive common shares 961 1,035 1,184 1,139 Average common shares outstanding - assuming dilution 195,366 214,609 197,441 216,433 Earnings per common share: Basic $ 0.38 $ 0.33 $ 0.80 $ 0.61 Diluted $ 0.38 $ 0.33 $ 0.80 $ 0.60 |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Restricted Stock Activity Under Omnibus Plan [Table Text Block] | The following table summarizes the restricted stock activity in the first six months of 2022 and 2021 under the Omnibus Plan: Six-Month Period Ended Six-Month Period Ended June 30, 2022 June 30, 2021 Number of shares Weighted-Average Number of shares Weighted-Average of restricted Grant Date of restricted Grant Date stock Fair Value stock Fair Value Unvested shares outstanding at beginning of period 1,148,775 $ 6.61 1,320,723 $ 5.74 Granted (1) 301,440 13.15 293,621 11.26 Forfeited ( 10,364) 8.82 ( 10,460) 6.10 Vested ( 487,198) 5.72 ( 363,257) 7.98 Unvested shares outstanding at end of period 952,653 $ 9.11 1,240,627 $ 6.39 (1) Includes for the six-month period ended June 30, 2022, 3,048 shares of restricted stock awarded to an independent director and 298,392 shares of restricted stock awarded to employees, of which 6,084 shares were granted to retirement-eligible employees and thus charged to earnings as of the grant date. Includes for the six-month period ended June 30, 2021, 3,552 shares of restricted stock awarded to an independent director and 290,069 shares of restricted stock awarded to employees, of which 19,271 shares were granted to retirement-eligible employees and thus charged to earnings as of the grant date. |
Summary Of Performace Units Activity [Table Text Block] | The following table summarizes the performance units activity under the Omnibus Plan in the first six months of 2022 and 2021: Six-Month Period Ended Six-Month Period Ended (Number of units) June 30, 2022 June 30, 2021 Performance units at beginning of year 814,899 1,006,768 Additions 166,669 160,485 Vested (1) ( 189,645) ( 304,408) Performance units at end of period 791,923 862,845 (1) Units vested during the six-month period ended June 30, 2022 are related to performance units granted in 2019 that met the pre-established target and were settled with shares of common stock reissued from treasury shares. Units vested during the six-month period ended June 30, 2021 are related to performance units granted in 2018 that met the pre-established target and were settled with new shares of common stock. |
STOCKHOLDERS' EQUITY (Tables)
STOCKHOLDERS' EQUITY (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
Schedule Of Common Stock Outstanding Roll Forward [Table Text Block] | Total Number of Shares Common stock outstanding, beginning balance 201,826,505 Common stock repurchased (1) ( 10,680,890) Common stock reissued from treasury stock 491,085 Restricted stock forfeited ( 10,364) Common stock outstanding, ending balance 191,626,336 (1) Consisted of 7,069,263 shares of common stock repurchased in the open market at an average price of $ 14.15 per share for a total purchase price of approximately $ 100 million under the $ 350 million stock repurchase program announced in April 2022; 3,409,697 shares of common stock repurchased in the open market at an average price of $ 14.66 for a total purchase price of approximately $ 50 million under the prior $ 300 million stock repurchase program which was completed during the first quarter of 2022 and; 201,930 shares of common stock surrendered to cover officers' payroll and income taxes. |
OTHER COMPREHENSIVE (LOSS) IN_2
OTHER COMPREHENSIVE (LOSS) INCOME (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Statement of Other Comprehensive Loss [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Changes in Accumulated Other Comprehensive (Loss) Income by Component (1) Quarter Ended Six-Month Period Ended June 30, June 30, June 30, June 30, 2022 2021 2022 2021 (in thousands) Unrealized net holding (losses) gains on available-for-sale debt securities Beginning balance $ ( 419,224) $ ( 43,204) $ ( 87,390) $ 55,725 Other comprehensive (loss) income ( 175,923) 28,496 ( 507,757) ( 70,433) Ending balance $ ( 595,147) $ ( 14,708) $ ( 595,147) $ ( 14,708) Adjustment of pension and postretirement benefit plans: Beginning balance $ 3,391 $ ( 270) $ 3,391 $ ( 270) Other comprehensive (loss) income - - - - Ending balance $ 3,391 $ ( 270) $ 3,391 $ ( 270) (1) All amounts presented are net of tax. |
EMPLOYEE BENEFIT PLANS (Tables)
EMPLOYEE BENEFIT PLANS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Employees' Benefit Plan [Abstract] | |
Schedule of Net Benefit Costs [Table Text Block] | The following table presents the components of net periodic benefit income for the Pension Plans and Postretirement Benefit Plan for the indicated periods: Quarter Ended June 30, Six-Month Period Ended June 30, Location 2022 2021 2022 2021 (In thousands) Net periodic benefit income: Interest cost Other expenses $ 656 $ 620 $ 1,311 $ 1,240 Estimated return on plan assets Other expenses ( 1,040) ( 1,131) ( 2,079) ( 2,262) Net periodic benefit income $ ( 384) $ ( 511) $ ( 768) $ ( 1,022) |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis [Table Text Block] | Assets and liabilities measured at fair value on a recurring basis are summarized below as of June 30, 2022 and December 31, 2021: As of June 30, 2022 As of December 31, 2021 Fair Value Measurements Using Fair Value Measurements Using (In thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Debt securities available for sale: U.S. Treasury securities $ 141,347 $ - $ - $ 141,347 $ 148,486 $ - $ - $ 148,486 Noncallable U.S. agencies debt securities - 258,663 - 258,663 - 285,028 - 285,028 Callable U.S. agencies debt securities - 2,159,474 - 2,159,474 - 1,971,954 - 1,971,954 MBS - 3,511,456 6,371 (1) 3,517,827 - 4,037,209 7,234 4,044,443 Puerto Rico government obligations - - 2,809 2,809 - - 2,850 2,850 Other investments - - 1,000 1,000 - - 1,000 1,000 Equity securities 5,082 - - 5,082 5,378 - - 5,378 Derivative assets - 1,025 - 1,025 - 1,505 - 1,505 Liabilities: Derivative liabilities - 636 - 636 - 1,178 - 1,178 (1) Related to private label MBS. |
Fair Value of Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The table below presents a reconciliation of the beginning and ending balances of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, 2022 2021 Level 3 Instruments Only Debt Securities Debt Securities (In thousands) Available For Sale (1) Available For Sale (1) Beginning balance $ 10,647 $ 11,776 Total (losses) gains: Included in other comprehensive income (unrealized) ( 106) 384 Included in earnings (unrealized) (2) 35 - Principal repayments and amortization ( 396) ( 679) Ending balance $ 10,180 $ 11,481 (1) Amounts mostly related to private label MBS. (2) Changes in unrealized gains included in earnings were recognized within provision for credit losses - benefit and relate to assets still held as of the reporting date. Six-Month Period Ended June 30, 2022 2021 Level 3 Instruments Only Debt Securities Debt Securities (In thousands) Available For Sale (1) Available For Sale (1) Beginning balance $ 11,084 $ 11,977 Total (losses) gains: Included in other comprehensive income (unrealized) ( 393) 705 Included in earnings (unrealized) (2) 423 127 Principal repayments and amortization ( 934) ( 1,328) Ending balance $ 10,180 $ 11,481 (1) Amounts mostly related to private label MBS. (2) Changes in unrealized gains included in earnings were recognized within provision for credit losses - benefit and relate to assets still held as of the reporting date. |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | The tables below present quantitative information for significant assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of June 30, 2022 and December 31, 2021: June 30, 2022 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Available-for-sale debt securities: Private label MBS $ 6,371 Discounted cash flows Discount rate 15.2% 15.2% 15.2% Prepayment rate 3.2% 20.9% 12.7% Projected cumulative loss rate 0.4% 15.8% 5.6% Puerto Rico government obligations 2,809 Discounted cash flows Discount rate 9.1% 9.1% 9.1% Projected cumulative loss rate 19.2% 19.2% 19.2% December 31, 2021 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Available-for-sale debt securities: Private label MBS $ 7,234 Discounted cash flows Discount rate 12.9% 12.9% 12.9% Prepayment rate 7.6% 24.9% 15.2% Projected cumulative loss rate 0.2% 15.7% 7.6% Puerto Rico government obligations 2,850 Discounted cash flows Discount rate 6.6% 8.4% 7.9% Projected cumulative loss rate 8.6% 8.6% 8.6% |
Impairment or Valuation Adjustments were Recorded for Assets Recognized at Fair Value [Table Text Block] | Carrying value as of June 30, 2022 Related to (losses) gains recorded for the Quarter Ended June 30, 2022 Related to losses recorded for the Six-Month Period Ended June 30, 2022 (Losses) gains recorded for the Quarter Ended June 30, 2022 Losses recorded for the Six-Month Period Ended June 30, 2022 (In thousands) Loans receivable (1) $ 5,422 $ 29,967 $ ( 817) $ ( 3,848) OREO (2) 2,140 2,741 35 ( 38) Premises and equipment (3) - 1,242 - ( 218) (1) Consists mainly of collateral dependent commercial and construction loans. The Corporation generally measured losses based on the fair value of the collateral. The Corporation derived the fair values from external appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the collateral (e.g., absorption rates), which are not market observable. (2) The Corporation derived the fair values from appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the properties (e.g., absorption rates and net operating income of income producing properties), which are not market observable. Losses were related to market valuation adjustments after the transfer of the loans to the OREO portfolio. (3) Relates to a banking facility reclassified to held-for-sale and measured at the fair value of the collateral. As of June 30, 2021, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis and still held as of June 30, 2021 as shown in the following table: Carrying value as of June 30, 2021 Related to losses recorded for the Quarter Ended June 30, 2021 Related to losses recorded for the Six-Month Period Ended June 30, 2021 Losses recorded for the Quarter Ended June 30, 2021 Losses recorded for the Six-Month Period Ended June 30, 2021 (In thousands) Loans receivable (1) $ 13,013 $ 41,610 $ ( 1,689) $ ( 4,350) OREO (2) 2,930 5,033 ( 225) ( 374) Loans held for sale (3) - 4,004 - ( 116) (1) Consists mainly of collateral dependent commercial and construction loans. The Corporation generally measured losses based on the fair value of the collateral. The Corporation derived the fair values from external appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the collateral (e.g., absorption rates), which are not market observable. (2) The Corporation derived the fair values from appraisals that took into consideration prices in observed transactions involving similar assets in similar locations but adjusted for specific characteristics and assumptions of the properties (e.g., absorption rates and net operating income of income producing properties), which are not market observable. Losses were related to market valuation adjustments after the transfer of the loans to the OREO portfolio. (3) Commercial loan participation transferred to held for sale in the first quarter of 2021 and still in inventory as of June 30, 2021. The value was primarily derived from offers of market participants that the Corporation considered. |
Estimated Fair Value and Carrying Value of Financial Instruments [Table Text Block] | The following tables present the carrying value, estimated fair value and estimated fair value level of the hierarchy of financial instruments as of June 30, 2022 and December 31, 2021: Total Carrying Amount in Statement of Financial Condition as of June 30, 2022 Fair Value Estimate as of June 30, 2022 Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks and money market investments (amortized cost) $ 1,263,523 $ 1,263,523 $ 1,263,523 $ - $ - Debt securities available for sale (fair value) 6,081,120 6,081,120 141,347 5,929,593 10,180 Debt securities held to maturity (amortized cost) 458,227 Less: allowance for credit losses on held-to-maturity debt securities ( 8,885) Debt securities held to maturity, net of allowance $ 449,342 453,242 - 278,223 175,019 Equity securities (amortized cost) 27,761 27,761 - 27,761 (1) - Other equity securities (fair value) 5,082 5,082 5,082 - - Loans held for sale (lower of cost or market) 22,601 22,790 - 22,790 - Loans held for investment (amortized cost) 11,206,874 Less: allowance for credit losses for loans and finance leases ( 252,152) Loans held for investment, net of allowance $ 10,954,722 10,954,724 - - 10,954,724 MSRs (amortized cost) 30,277 44,337 - - 44,337 Derivative assets (fair value) (2) 1,025 1,025 - 1,025 - Liabilities: Deposits (amortized cost) $ 17,140,128 $ 17,146,043 $ - $ 17,146,043 $ - Securities sold under agreements to repurchase (amortized cost) 200,000 205,456 - 205,456 - Advances from FHLB (amortized cost) 200,000 200,051 - 200,051 - Other borrowings (amortized cost) 183,762 175,122 - - 175,122 Derivative liabilities (fair value) (2) 636 636 - 636 - (1) Includes FHLB stock with a carrying value of $ 21.3 million. (2) Includes interest rate swap agreements, interest rate caps, forward contracts, interest rate lock commitments, and forward loan sales commitments. Total Carrying Amount in Statement of Financial Condition as of December 31, 2021 Fair Value Estimate as of December 31, 2021 Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks and money market investments (amortized cost) $ 2,543,058 $ 2,543,058 $ 2,543,058 $ - $ - Debt securities available for sale (fair value) 6,453,761 6,453,761 148,486 6,294,191 11,084 Debt securities held to maturity (amortized cost) 178,133 Less: allowance for credit losses on held-to-maturity debt securities ( 8,571) Debt securities held to maturity, net of allowance 169,562 167,147 - - 167,147 Equity securities (amortized cost) 26,791 26,791 - 26,791 (1) - Other equity securities (fair value) 5,378 5,378 5,378 - - Loans held for sale (lower of cost or market) 35,155 36,147 - 36,147 - Loans held for investment (amortized cost) 11,060,658 Less: allowance for credit losses for loans and finance leases ( 269,030) Loans held for investment, net of allowance $ 10,791,628 10,900,400 - - 10,900,400 MSRs (amortized cost) 30,986 42,132 - - 42,132 Derivative assets (fair value) (2) 1,505 1,505 - 1,505 - Liabilities: Deposits (amortized cost) $ 17,784,894 $ 17,800,706 $ - $ 17,800,706 $ - Securities sold under agreements to repurchase (amortized cost) 300,000 322,105 - 322,105 - Advances from FHLB (amortized cost) 200,000 202,044 - 202,044 - Other borrowings (amortized cost) 183,762 177,689 - - 177,689 Derivative liabilities (fair value) (2) 1,178 1,178 - 1,178 - (1) Includes FHLB stock with a carrying value of $ 21.5 million. (2) Includes interest rate swap agreements, interest rate caps, forward contracts, interest rate lock commitments, and forward loan sales commitments. |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue [Table Text Block] | The following table summarizes the Corporation’s revenue, which includes net interest income on financial instruments and non-interest income, disaggregated by type of service and business segment for the quarters and six-month periods ended June 30, 2022 and 2021: (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Quarter Ended June 30, 2022: Net interest income (1) $ 26,335 $ 102,397 $ 31,379 $ 11,466 $ 18,688 $ 5,921 $ 196,186 Service charges and fees on deposit accounts - 5,495 3,069 - 157 745 9,466 Insurance commissions (2) - 2,724 - - 20 202 2,946 Merchant-related income - 1,711 381 - 17 327 2,436 Credit and debit card fees - 7,391 21 - 3 449 7,864 Other service charges and fees 59 2,066 876 - 485 157 3,643 Not in scope of ASC Topic 606 (1) 4,108 396 101 ( 51) ( 4) 36 4,586 Total non-interest income 4,167 19,783 4,448 ( 51) 678 1,916 30,941 Total Revenue $ 30,502 $ 122,180 $ 35,827 $ 11,415 $ 19,366 $ 7,837 $ 227,127 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Quarter Ended June 30, 2021: Net interest income (1) $ 26,331 $ 64,751 $ 51,498 $ 19,039 $ 16,406 $ 6,758 $ 184,783 Service charges and fees on deposit accounts - 4,966 2,987 - 135 700 8,788 Insurance commissions (2) - 1,987 - - 28 200 2,215 Merchant-related income - 1,910 257 - 12 283 2,462 Credit and debit card fees - 6,621 21 - 11 404 7,057 Other service charges and fees 177 846 693 - 431 147 2,294 Not in scope of ASC Topic 606 (1) 5,960 396 181 85 451 ( 5) 7,068 Total non-interest income 6,137 16,726 4,139 85 1,068 1,729 29,884 Total Revenue $ 32,468 $ 81,477 $ 55,637 $ 19,124 $ 17,474 $ 8,487 $ 214,667 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Six-Month Period Ended June 30, 2022: Net interest income (1) $ 52,114 $ 191,943 $ 71,794 $ 18,875 $ 35,170 $ 11,914 $ 381,810 Service charges and fees on deposit accounts - 11,034 6,045 - 295 1,455 18,829 Insurance commissions (2) - 7,691 - - 49 481 8,221 Merchant-related income - 3,533 754 - 22 716 5,025 Credit and debit card fees - 14,062 37 - ( 4) 859 14,954 Other service charges and fees 202 3,176 1,989 - 984 314 6,665 Not in scope of ASC Topic 606 (1) 9,217 750 177 ( 163) 76 48 10,105 Total non-interest income 9,419 40,246 9,002 ( 163) 1,422 3,873 63,799 Total Revenue $ 61,533 $ 232,189 $ 80,796 $ 18,712 $ 36,592 $ 15,787 $ 445,609 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Six-Month Period Ended June 30, 2021: Net interest income (1) $ 51,571 $ 123,234 $ 100,479 $ 40,622 $ 31,429 $ 13,713 $ 361,048 Service charges and fees on deposit accounts - 9,442 5,958 - 284 1,408 17,092 Insurance commissions (2) - 6,954 - - 57 445 7,456 Merchant-related income - 2,832 513 - 25 487 3,857 Credit and debit card fees - 12,266 40 - 14 774 13,094 Other service charges and fees 350 1,711 1,212 - 889 288 4,450 Not in scope of ASC Topic 606 (1) 12,903 764 313 141 774 ( 4) 14,891 Total non-interest income 13,253 33,969 8,036 141 2,043 3,398 60,840 Total Revenue $ 64,824 $ 157,203 $ 108,515 $ 40,763 $ 33,472 $ 17,111 $ 421,888 (1) Most of the Corporation’s revenue is not within the scope of ASC Topic 606. The guidance explicitly excludes net interest income from financial assets and liabilities, as well as other non-interest income from loans, leases, investment securities and derivative financial instruments. (2) Contingent commission income is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur or payments are received. For the quarter and six-month period ended June 30, 2022, the Corporation recognized revenue at the time that payments were confirmed and constraints were released of $ 265 thousand and $ 3.2 million, respectively, compared to $ 16 thousand and $ 3.3 million for the quarter and six-month period ended June 30, 2021. Quarter Ended Six-Month Period Ended June 30, June 30, (In thousands) 2022 2021 2022 2021 Beginning Balance $ 1,154 $ 2,070 $ 1,443 $ 2,151 Less: Revenue recognized ( 105) ( 81) ( 394) ( 162) Ending balance $ 1,049 $ 1,989 $ 1,049 $ 1,989 |
SUPPLEMENTAL CASH FLOW INFORM_2
SUPPLEMENTAL CASH FLOW INFORMATION (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information [Table Text Block] | Supplemental cash flow information is as follows for the indicated periods: Six-Month Period Ended June 30, 2022 2021 (In thousands) Cash paid for: Interest on borrowings $ 26,148 $ 36,936 Income tax 15,295 8,968 Operating cash flow from operating leases 9,156 9,817 Non-cash investing and financing activities: Additions to OREO 10,698 8,647 Additions to auto and other repossessed assets 20,575 18,155 Capitalization of servicing assets 1,958 2,900 Loan securitizations 78,397 106,833 Loans held for investment transferred to held for sale 2,443 31,383 Right-of-use ("ROU") assets obtained in exchange for operating lease liabilities 1,158 2,610 Unsettled purchases of investment securities 20,202 50,026 Unsettled common stock shares repurchases - 772 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Segment Reporting [Abstract] | |
Schedule Of Segment Reporting Information By Segment [Text Block] | (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total For the Quarter Ended June 30, 2022: Interest income $ 33,205 $ 73,487 $ 47,513 $ 27,143 $ 21,081 $ 6,196 $ 208,625 Net (charge) credit for transfer of funds ( 6,870) 34,039 ( 16,134) ( 10,705) ( 330) - - Interest expense - ( 5,129) - ( 4,972) ( 2,063) ( 275) ( 12,439) Net interest income 26,335 102,397 31,379 11,466 18,688 5,921 196,186 Provision for credit losses - (benefit) expense ( 3,605) 15,055 ( 470) ( 35) ( 1,678) 736 10,003 Non-interest income (loss) 4,167 19,783 4,448 ( 51) 678 1,916 30,941 Direct non-interest expenses 5,681 40,546 9,048 905 8,237 6,765 71,182 Segment income $ 28,426 $ 66,579 $ 27,249 $ 10,545 $ 12,807 $ 336 $ 145,942 Average earnings assets $ 2,243,188 $ 2,860,086 $ 3,624,176 $ 7,769,754 $ 2,036,108 $ 370,590 $ 18,903,902 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total For the Quarter Ended June 30, 2021: Interest income $ 36,945 $ 66,237 $ 53,833 $ 16,708 $ 20,651 $ 7,085 $ 201,459 Net (charge) credit for transfer of funds ( 10,614) 5,901 ( 2,335) 8,191 ( 1,143) - - Interest expense - ( 7,387) - ( 5,860) ( 3,102) ( 327) ( 16,676) Net interest income 26,331 64,751 51,498 19,039 16,406 6,758 184,783 Provision for credit losses expense - expense (benefit) 1,030 791 ( 27,752) - 860 ( 1,084) ( 26,155) Non-interest income 6,137 16,726 4,139 85 1,068 1,729 29,884 Direct non-interest expenses 7,525 43,255 8,298 1,127 9,103 7,301 76,609 Segment income $ 23,913 $ 37,431 $ 75,091 $ 17,997 $ 7,511 $ 2,270 $ 164,213 Average earnings assets $ 2,563,768 $ 2,491,583 $ 3,888,725 $ 7,588,530 $ 2,103,002 $ 438,928 $ 19,074,536 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total Six-Month Period Ended June 30, 2022 Interest income $ 66,276 $ 143,924 $ 94,540 $ 49,327 $ 39,938 $ 12,474 $ 406,479 Net (charge) credit for transfer of funds ( 14,162) 58,321 ( 22,746) ( 20,654) ( 759) - - Interest expense - ( 10,302) - ( 9,798) ( 4,009) ( 560) ( 24,669) Net interest income 52,114 191,943 71,794 18,875 35,170 11,914 381,810 Provision for credit losses - (benefit) expense ( 7,308) 26,199 ( 17,092) ( 423) ( 5,225) 50 ( 3,799) Non-interest income (loss) 9,419 40,246 9,002 ( 163) 1,422 3,873 63,799 Direct non-interest expenses 12,587 79,817 17,907 1,790 16,716 13,738 142,555 Segment income $ 56,254 $ 126,173 $ 79,981 $ 17,345 $ 25,101 $ 1,999 $ 306,853 Average earnings assets $ 2,268,279 $ 2,810,062 $ 3,662,720 $ 7,931,699 $ 2,050,791 $ 374,358 $ 19,097,909 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total Six-Month Period Ended June 30, 2021 Interest income $ 74,005 $ 131,970 $ 105,291 $ 29,470 $ 40,983 $ 14,382 $ 396,101 Net (charge) credit for transfer of funds ( 22,434) 6,956 ( 4,812) 23,125 ( 2,835) - - Interest expense - ( 15,692) - ( 11,973) ( 6,719) ( 669) ( 35,053) Net interest income 51,571 123,234 100,479 40,622 31,429 13,713 361,048 Provision for credit losses - expense (benefit) 244 4,753 ( 44,931) ( 127) 623 ( 1,969) ( 41,407) Non-interest income 13,253 33,969 8,036 141 2,043 3,398 60,840 Direct non-interest expenses 15,522 84,346 19,836 2,361 17,397 14,706 154,168 Segment income $ 49,058 $ 68,104 $ 133,610 $ 38,529 $ 15,452 $ 4,374 $ 309,127 Average earnings assets $ 2,611,065 $ 2,467,015 $ 3,957,859 $ 6,921,007 $ 2,090,898 $ 444,201 $ 18,492,045 |
Reconciliation of the Reportable Segment Financial Information [Table Text Block] | Quarter Ended Six-Month Period Ended June 30, June 30, 2022 2021 2022 2021 (In thousands) Net income: Total income for segments $ 145,942 $ 164,213 $ 306,853 $ 309,127 Other operating expenses (1) 37,144 53,563 72,430 109,305 Income before income taxes 108,798 110,650 234,423 199,822 Income tax expense 34,103 40,092 77,128 68,114 Total consolidated net income $ 74,695 $ 70,558 $ 157,295 $ 131,708 Average assets: Total average earning assets for segments $ 18,903,902 $ 19,074,536 $ 19,097,909 $ 18,492,045 Average non-earning assets 820,924 1,109,941 890,043 1,146,337 Total consolidated average assets $ 19,724,826 $ 20,184,477 $ 19,987,952 $ 19,638,382 (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. |
REGULATORY MATTERS, COMMITMEN_2
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Corporations and its banking subsidiarys regulatory capital positions [Table Text Block] | Regulatory Requirements Actual For Capital Adequacy Purposes To be Well-Capitalized- Thresholds Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of June 30, 2022 Total Capital (to Risk-Weighted Assets) First BanCorp. $ 2,378,124 19.67 % $ 966,978 8.0 % N/A N/A FirstBank $ 2,290,652 18.96 % $ 966,755 8.0 % $ 1,208,444 10.0 % CET1 Capital (to Risk-Weighted Assets) First BanCorp. $ 2,049,120 16.95 % $ 543,925 4.5 % N/A N/A FirstBank $ 2,039,899 16.88 % $ 543,800 4.5 % $ 785,488 6.5 % Tier I Capital (to Risk-Weighted Assets) First BanCorp. $ 2,049,120 16.95 % $ 725,234 6.0 % N/A N/A FirstBank $ 2,139,899 17.71 % $ 725,066 6.0 % $ 966,755 8.0 % Leverage ratio First BanCorp. $ 2,049,120 10.18 % $ 805,294 4.0 % N/A N/A FirstBank $ 2,139,899 10.63 % $ 804,971 4.0 % $ 1,006,214 5.0 % As of December 31, 2021 Total Capital (to Risk-Weighted Assets) First BanCorp. $ 2,433,953 20.50 % $ 949,637 8.0 % N/A N/A FirstBank $ 2,401,390 20.23 % $ 949,556 8.0 % $ 1,186,944 10.0 % CET1 Capital (to Risk-Weighted Assets) First BanCorp. $ 2,112,630 17.80 % $ 534,171 4.5 % N/A N/A FirstBank $ 2,150,317 18.12 % $ 534,125 4.5 % $ 771,514 6.5 % Tier I Capital (to Risk-Weighted Assets) First BanCorp. $ 2,112,630 17.80 % $ 712,228 6.0 % N/A N/A FirstBank $ 2,258,317 19.03 % $ 712,167 6.0 % $ 949,556 8.0 % Leverage ratio First BanCorp. $ 2,112,630 10.14 % $ 833,091 4.0 % N/A N/A FirstBank $ 2,258,317 10.85 % $ 832,773 4.0 % $ 1,040,967 5.0 % |
FIRST BANCORP. (Holding Compa_2
FIRST BANCORP. (Holding Company Only) Financial Information (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Statements of Financial Condition [Table Text Block] | The following condensed financial information presents the financial position of First BanCorp. at the holding company level only as of June 30, 2022 and December 31, 2021, and the results of its operations for the quarters and six-month periods ended June 30, 2022 and 2021: Statements of Financial Condition (Unaudited) As of June 30, As of December 31, 2022 2021 (In thousands) Assets Cash and due from banks $ 18,387 $ 20,751 Other investment securities 285 285 Investment in First Bank Puerto Rico, at equity 1,648,605 2,247,289 Investment in First Bank Insurance Agency, at equity 25,674 19,521 Investment in FBP Statutory Trust I 1,951 1,951 Investment in FBP Statutory Trust II 3,561 3,561 Dividend receivable 50,797 295 Other assets 210 71 Total assets $ 1,749,470 $ 2,293,724 Liabilities and Stockholdersʼ Equity Liabilities: Other borrowings $ 183,762 $ 183,762 Accounts payable and other liabilities 7,792 8,195 Total liabilities 191,554 191,957 Stockholdersʼ equity 1,557,916 2,101,767 Total liabilities and stockholdersʼ equity $ 1,749,470 $ 2,293,724 |
Statements of Income [Table Text Block] | Statements of Income (Unaudited) Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Income: Interest income on money market investments $ 10 $ 8 $ 14 $ 24 Dividend income from banking subsidiaries 178,679 16,328 242,272 35,129 Other income 51 39 91 77 Total income 178,740 16,375 242,377 35,230 Expense: Other borrowings 1,698 1,285 3,031 2,579 Other operating expenses 434 637 873 1,136 Total expenses 2,132 1,922 3,904 3,715 Income before income taxes and equity in undistributed earnings of subsidiaries 176,608 14,453 238,473 31,515 Income tax expense 793 659 1,899 1,788 (Distributions in excess of earnings) equity in undistributed earnings of subsidiaries ( 101,120) 56,764 ( 79,279) 101,981 Net income $ 74,695 $ 70,558 $ 157,295 $ 131,708 Other comprehensive (loss) income, net of tax ( 175,923) 28,496 ( 507,757) ( 70,433) Comprehensive (loss) income $ ( 101,228) $ 99,054 $ ( 350,462) $ 61,275 |
DEBT SECURITIES - Investment Se
DEBT SECURITIES - Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost | $ 6,669,190 | $ 6,534,503 |
Gross Unrealized Gain | 2,738 | 28,900 |
Gross Unrealized Loss | 590,132 | 108,537 |
Allowance for Credit Losses | 676 | 1,105 |
Fair value | $ 6,081,120 | $ 6,453,761 |
Weighted-average yield | 1.17% | 1.03% |
U.S. Treasury securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost After 1 to 5 years | $ 149,262 | $ 149,660 |
Gross Unrealized Gains After 1 to 5 years | 0 | 59 |
Gross Unrealized Losses After 1 to 5 years | 7,915 | 1,233 |
Allowance for Credit Losses After 1 to 5 years | 0 | 0 |
Fair value After 1 to 5 years | $ 141,347 | $ 148,486 |
Weighted-average yield After 1 to 5 years | 0.68% | 0.68% |
U.S. government-sponsored agencies obigations [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost After 1 to 5 years | $ 2,352,787 | $ 1,877,181 |
Gross Unrealized Gains After 1 to 5 years | 24 | 240 |
Gross Unrealized Losses After 1 to 5 years | 152,520 | 29,555 |
Allowance for Credit Losses After 1 to 5 years | 0 | 0 |
Fair value After 1 to 5 years | $ 2,200,291 | $ 1,847,866 |
Weighted-average yield After 1 to 5 years | 0.79% | 0.60% |
Amortized cost After 5 to 10 years | $ 227,548 | $ 403,785 |
Gross Unrealized Gains After 5 to 10 years | 65 | 175 |
Gross Unrealized Losses After 5 to 10 years | 24,168 | 10,856 |
Allowance for Credit Losses After 5 to 10 years | 0 | 0 |
Fair value After 5 to 10 years | $ 203,445 | $ 393,104 |
Weighted-average yield After 5 to 10 years | 0.96% | 0.90% |
Amortized cost After 10 years | $ 14,184 | $ 15,788 |
Gross Unrealized Gains After 10 years | 217 | 224 |
Gross Unrealized Losses After 10 years | 0 | 0 |
Allowance for Credit Losses After 10 years | 0 | 0 |
Fair value After 10 years | $ 14,401 | $ 16,012 |
Weighted-average yield After 10 years | 2.04% | 0.63% |
Puerto Rico government obligations [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost After 10 years | $ 3,441 | $ 3,574 |
Gross Unrealized Gains After 10 years | 0 | 0 |
Gross Unrealized Losses After 10 years | 246 | 416 |
Allowance for Credit Losses After 10 years | 386 | 308 |
Fair value After 10 years | $ 2,809 | $ 2,850 |
Weighted-average yield After 10 years | 0% | 0% |
United States And Puerto Rico Government Obligations [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost | $ 2,747,222 | $ 2,449,988 |
Gross Unrealized Gain | 306 | 698 |
Gross Unrealized Loss | 184,849 | 42,060 |
Allowance for Credit Losses | 386 | 308 |
Fair value | $ 2,562,293 | $ 2,408,318 |
Weighted-average yield | 0.81% | 0.67% |
MBS [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost | $ 3,920,968 | $ 4,083,515 |
Gross Unrealized Gain | 2,432 | 28,202 |
Gross Unrealized Loss | 405,283 | 66,477 |
Allowance for Credit Losses | 290 | 797 |
Fair value | $ 3,517,827 | $ 4,044,443 |
Weighted-average yield | 1.43% | 1.26% |
MBS [Member] | FHLMC [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost After 1 to 5 years | $ 5,347 | $ 2,811 |
Gross Unrealized Gains After 1 to 5 years | 1 | 119 |
Gross Unrealized Losses After 1 to 5 years | 76 | 0 |
Allowance for Credit Losses After 1 to 5 years | 0 | 0 |
Fair value After 1 to 5 years | $ 5,272 | $ 2,930 |
Weighted-average yield After 1 to 5 years | 2.33% | 2.65% |
Amortized cost After 5 to 10 years | $ 203,549 | $ 193,234 |
Gross Unrealized Gains After 5 to 10 years | 52 | 2,419 |
Gross Unrealized Losses After 5 to 10 years | 9,852 | 1,122 |
Allowance for Credit Losses After 5 to 10 years | 0 | 0 |
Fair value After 5 to 10 years | $ 193,749 | $ 194,531 |
Weighted-average yield After 5 to 10 years | 1.44% | 1.29% |
Amortized cost After 10 years | $ 1,175,621 | $ 1,240,964 |
Gross Unrealized Gains After 10 years | 9 | 3,748 |
Gross Unrealized Losses After 10 years | 144,500 | 23,503 |
Allowance for Credit Losses After 10 years | 0 | 0 |
Fair value After 10 years | $ 1,031,130 | $ 1,221,209 |
Weighted-average yield After 10 years | 1.33% | 1.18% |
Amortized cost | $ 1,384,517 | $ 1,437,009 |
Gross Unrealized Gain | 62 | 6,286 |
Gross Unrealized Loss | 154,428 | 24,625 |
Allowance for Credit Losses | 0 | 0 |
Fair value | $ 1,230,151 | $ 1,418,670 |
Weighted-average yield | 1.35% | 1.20% |
MBS [Member] | GNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost Due within one year | $ 6 | $ 2 |
Gross Unrealized Gains Due within one year | 0 | 0 |
Gross Unrealized Losses Due within one year | 0 | 0 |
Allowance for Credit Losses within one year | 0 | 0 |
Fair value Due within one year | $ 6 | $ 2 |
Weighted-average yield Due within one year | 1.95% | 1.32% |
Amortized cost After 1 to 5 years | $ 20,088 | $ 16,714 |
Gross Unrealized Gains After 1 to 5 years | 130 | 572 |
Gross Unrealized Losses After 1 to 5 years | 329 | 0 |
Allowance for Credit Losses After 1 to 5 years | 0 | 0 |
Fair value After 1 to 5 years | $ 19,889 | $ 17,286 |
Weighted-average yield After 1 to 5 years | 2.04% | 2.90% |
Amortized cost After 5 to 10 years | $ 42,090 | $ 27,271 |
Gross Unrealized Gains After 5 to 10 years | 0 | 80 |
Gross Unrealized Losses After 5 to 10 years | 2,369 | 139 |
Allowance for Credit Losses After 5 to 10 years | 0 | 0 |
Fair value After 5 to 10 years | $ 39,721 | $ 27,212 |
Weighted-average yield After 5 to 10 years | 1.07% | 0.51% |
Amortized cost After 10 years | $ 261,681 | $ 338,927 |
Gross Unrealized Gains After 10 years | 1,434 | 7,091 |
Gross Unrealized Losses After 10 years | 18,926 | 2,174 |
Allowance for Credit Losses After 10 years | 0 | 0 |
Fair value After 10 years | $ 244,189 | $ 343,844 |
Weighted-average yield After 10 years | 2.01% | 1.45% |
Amortized cost | $ 323,865 | $ 382,914 |
Gross Unrealized Gain | 1,564 | 7,743 |
Gross Unrealized Loss | 21,624 | 2,313 |
Allowance for Credit Losses | 0 | 0 |
Fair value | $ 303,805 | $ 388,344 |
Weighted-average yield | 1.89% | 1.45% |
MBS [Member] | FNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost Due within one year | $ 2,099 | $ 4,975 |
Gross Unrealized Gains Due within one year | 0 | 21 |
Gross Unrealized Losses Due within one year | 2 | 0 |
Allowance for Credit Losses within one year | 0 | 0 |
Fair value Due within one year | $ 2,097 | $ 4,996 |
Weighted-average yield Due within one year | 2.41% | 2.03% |
Amortized cost After 1 to 5 years | $ 15,905 | $ 21,337 |
Gross Unrealized Gains After 1 to 5 years | 161 | 424 |
Gross Unrealized Losses After 1 to 5 years | 44 | 0 |
Allowance for Credit Losses After 1 to 5 years | 0 | 0 |
Fair value After 1 to 5 years | $ 16,022 | $ 21,761 |
Weighted-average yield After 1 to 5 years | 2.87% | 2.87% |
Amortized cost After 5 to 10 years | $ 379,705 | $ 298,771 |
Gross Unrealized Gains After 5 to 10 years | 51 | 4,387 |
Gross Unrealized Losses After 5 to 10 years | 19,210 | 1,917 |
Allowance for Credit Losses After 5 to 10 years | 0 | 0 |
Fair value After 5 to 10 years | $ 360,546 | $ 301,241 |
Weighted-average yield After 5 to 10 years | 1.51% | 1.41% |
Amortized cost After 10 years | $ 1,325,053 | $ 1,389,381 |
Gross Unrealized Gains After 10 years | 591 | 8,953 |
Gross Unrealized Losses After 10 years | 145,356 | 21,747 |
Allowance for Credit Losses After 10 years | 0 | 0 |
Fair value After 10 years | $ 1,180,288 | $ 1,376,587 |
Weighted-average yield After 10 years | 1.38% | 1.21% |
Amortized cost | $ 1,722,762 | $ 1,714,464 |
Gross Unrealized Gain | 803 | 13,785 |
Gross Unrealized Loss | 164,612 | 23,664 |
Allowance for Credit Losses | 0 | 0 |
Fair value | $ 1,558,953 | $ 1,704,585 |
Weighted-average yield | 1.42% | 1.27% |
MBS [Member] | Collateralized mortgage obligations guaranteed by FHLMC, FNMA and GNMA [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost Due within one year | $ 68 | |
Gross Unrealized Gains Due within one year | 0 | |
Gross Unrealized Losses Due within one year | 0 | |
Allowance for Credit Losses within one year | 0 | |
Fair value Due within one year | $ 68 | |
Weighted-average yield Due within one year | 2.54% | |
Amortized cost After 1 to 5 years | $ 33,228 | $ 24,007 |
Gross Unrealized Gains After 1 to 5 years | 3 | 1 |
Gross Unrealized Losses After 1 to 5 years | 3,253 | 778 |
Allowance for Credit Losses After 1 to 5 years | 0 | 0 |
Fair value After 1 to 5 years | $ 29,978 | $ 23,230 |
Weighted-average yield After 1 to 5 years | 1.70% | 1.31% |
Amortized cost After 5 to 10 years | $ 14,316 | |
Gross Unrealized Gains After 5 to 10 years | 97 | |
Gross Unrealized Losses After 5 to 10 years | 0 | |
Allowance for Credit Losses After 5 to 10 years | 0 | |
Fair value After 5 to 10 years | $ 14,413 | |
Weighted-average yield After 5 to 10 years | 0.76% | |
Amortized cost After 10 years | $ 447,341 | $ 500,811 |
Gross Unrealized Gains After 10 years | 0 | 290 |
Gross Unrealized Losses After 10 years | 58,840 | 13,134 |
Allowance for Credit Losses After 10 years | 0 | 0 |
Fair value After 10 years | $ 388,501 | $ 487,967 |
Weighted-average yield After 10 years | 1.27% | 1.23% |
Amortized cost | $ 480,637 | $ 539,134 |
Gross Unrealized Gain | 3 | 388 |
Gross Unrealized Loss | 62,093 | 13,912 |
Allowance for Credit Losses | 0 | 0 |
Fair value | $ 418,547 | $ 525,610 |
Weighted-average yield | 1.30% | 1.22% |
MBS [Member] | Private label [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost After 10 years | $ 9,187 | $ 9,994 |
Gross Unrealized Gains After 10 years | 0 | 0 |
Gross Unrealized Losses After 10 years | 2,526 | 1,963 |
Allowance for Credit Losses After 10 years | 290 | 797 |
Fair value After 10 years | $ 6,371 | $ 7,234 |
Weighted-average yield After 10 years | 4.42% | 2.21% |
Gross Unrealized Loss | $ 2,800 | |
Allowance for Credit Losses | 300 | $ 800 |
Fair value | $ 6,400 | |
Weighted-average yield | 4.42% | |
Other Debt Obligations [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized cost Due within one year | $ 1,000 | 500 |
Gross Unrealized Gains Due within one year | 0 | 0 |
Gross Unrealized Losses Due within one year | 0 | 0 |
Allowance for Credit Losses within one year | 0 | 0 |
Fair value Due within one year | $ 1,000 | $ 500 |
Weighted-average yield Due within one year | 0.78% | 0.72% |
Amortized cost After 1 to 5 years | $ 500 | |
Gross Unrealized Gains After 1 to 5 years | 0 | |
Gross Unrealized Losses After 1 to 5 years | 0 | |
Allowance for Credit Losses After 1 to 5 years | 0 | |
Fair value After 1 to 5 years | $ 500 | |
Weighted-average yield After 1 to 5 years | 0.84% | |
Amortized cost | $ 1,000 | |
Gross Unrealized Gain | 0 | |
Gross Unrealized Loss | 0 | |
Allowance for Credit Losses | 0 | |
Fair value | $ 1,000 | |
Weighted-average yield | 0.78% |
DEBT SECURITIES - Additional In
DEBT SECURITIES - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Schedule Of Investments [Line Items] | ||||||||
Fair value | $ 6,081,120,000 | $ 6,081,120,000 | $ 6,453,761,000 | |||||
Gross Unrealized Loss | 590,132,000 | 590,132,000 | 108,537,000 | |||||
Available-for-sale, allowance for credit losses | 676,000 | 676,000 | 1,105,000 | |||||
Allowance for credit losses, Held-to-Maturity securities | 8,885,000 | 8,885,000 | 8,571,000 | |||||
Debt Securities, Held-to-maturity | $ 458,227,000 | $ 458,227,000 | ||||||
Debt Securities, Held-to-maturity, Threshold Period Past Due | 30 days | 30 days | ||||||
Interest Receivable | $ 62,501,000 | $ 62,501,000 | 61,507,000 | |||||
Securities Held To Maturity, Purchased | 280,200,000 | |||||||
Past Due [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Debt Securities, Held-to-maturity | 0 | 0 | 0 | |||||
Municipal Bonds [Member] | Puerto Rico [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Available-for-sale, allowance for credit losses | 8,900,000 | 8,900,000 | 8,600,000 | |||||
Allowance for credit losses, Held-to-Maturity securities | 8,885,000 | $ 10,685,000 | 8,885,000 | $ 10,685,000 | $ 12,324,000 | 8,571,000 | $ 8,869,000 | $ 8,845,000 |
Debt Securities, Held-to-maturity | 178,415,000 | 178,415,000 | 178,133,000 | |||||
Debt Securities Held To Maturity Allowance For Credit Loss Period Increase Decrease | 300,000 | |||||||
Puerto Rico government obligations [Member] | Residential Mortgage Backed Securities [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Fair value | 2,800,000 | 2,800,000 | ||||||
Gross Unrealized Loss | 600,000 | 600,000 | ||||||
Available-for-sale, allowance for credit losses | 400,000 | 400,000 | ||||||
MBS [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Fair value | 3,517,827,000 | 3,517,827,000 | 4,044,443,000 | |||||
Gross Unrealized Loss | 405,283,000 | 405,283,000 | 66,477,000 | |||||
Available-for-sale, allowance for credit losses | 290,000 | 290,000 | 797,000 | |||||
Allowance for credit losses, Held-to-Maturity securities | 0 | 0 | ||||||
Debt Securities, Held-to-maturity | 279,812,000 | 279,812,000 | ||||||
MBS [Member] | Private label [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Fair value | 6,400,000 | 6,400,000 | ||||||
Gross Unrealized Loss | 2,800,000 | 2,800,000 | ||||||
Available-for-sale, allowance for credit losses | 300,000 | 300,000 | 800,000 | |||||
Available-for-sale Securities [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Available-for-sale, allowance for credit losses | 676,000 | 1,166,000 | 676,000 | 1,166,000 | 711,000 | 1,105,000 | 1,183,000 | 1,310,000 |
Charge-offs | 17,000 | 6,000 | 17,000 | |||||
Interest Receivable | 11,200,000 | 11,200,000 | 10,100,000 | |||||
Available-for-sale Securities [Member] | Puerto Rico government obligations [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Available-for-sale, allowance for credit losses | 386,000 | 308,000 | 386,000 | 308,000 | 308,000 | 308,000 | 308,000 | 308,000 |
Charge-offs | 0 | 0 | 0 | |||||
Available-for-sale Securities [Member] | MBS [Member] | Private label [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Available-for-sale, allowance for credit losses | 290,000 | 858,000 | 290,000 | 858,000 | $ 403,000 | 797,000 | $ 875,000 | $ 1,002,000 |
Charge-offs | 17,000 | $ 6,000 | 17,000 | |||||
Available-for-sale Securities [Member] | MBS [Member] | Private label [Member] | FICO Score, Greater than 700 [Member] | LTV Less than 80 Percent [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Financing Receivable, Credit Quality, Additional Information | The underlying collateral is fixed-rate, single-family residential mortgage loans in the United States with original FICO scores over 700 and moderate loan-to-value ratios (under 80%), as well as moderate delinquency levels. | |||||||
Available-for-sale Securities [Member] | MBS [Member] | Private label [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Loans Receivable, Description of Variable Rate Basis | The interest rate on these private-label MBS is variable, tied to 3-month LIBOR, and limited to the weighted-average coupon on the underlying collateral. | |||||||
Held-to-maturity Securities [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Interest Receivable | 4,200,000 | $ 4,200,000 | $ 3,400,000 | |||||
Held-to-maturity Securities [Member] | Municipal Bonds [Member] | Puerto Rico [Member] | ||||||||
Schedule Of Investments [Line Items] | ||||||||
Provision for credit loss expense | $ (3,439,000) | $ 1,816,000 | $ 314,000 | $ 1,840,000 |
DEBT SECURITIES - Available-For
DEBT SECURITIES - Available-For-Sale Investments' Fair Value And Gross Unrealized Losses (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule Of Available For Sale Securities [Line Items] | ||||||
Fair Value Less than 12 months | $ 3,760,478 | $ 4,601,661 | ||||
Unrealized Losses Less than 12 months | 311,398 | 76,269 | ||||
Fair Value 12 months or more | 2,168,487 | 1,008,607 | ||||
Unrealized Losses 12 months or more | 278,734 | 32,268 | ||||
Total Fair Value | 5,928,965 | 5,610,268 | ||||
Total Unrealized Losses | 590,132 | 108,537 | ||||
Allowance for credit losses | 252,152 | $ 245,447 | 269,030 | $ 324,958 | $ 358,936 | $ 385,887 |
Private label [Member] | ||||||
Schedule Of Available For Sale Securities [Line Items] | ||||||
Allowance for credit losses | 300 | 800 | ||||
U.S. Treasury and U.S. government agencies obligations [Member] | ||||||
Schedule Of Available For Sale Securities [Line Items] | ||||||
Fair Value Less than 12 months | 1,530,493 | 1,717,340 | ||||
Unrealized Losses Less than 12 months | 89,224 | 25,401 | ||||
Fair Value 12 months or more | 1,005,051 | 606,179 | ||||
Unrealized Losses 12 months or more | 95,379 | 16,243 | ||||
Total Fair Value | 2,535,544 | 2,323,519 | ||||
Total Unrealized Losses | 184,603 | 41,644 | ||||
Puerto Rico government obligations [Member] | ||||||
Schedule Of Available For Sale Securities [Line Items] | ||||||
Fair Value Less than 12 months | 0 | 0 | ||||
Unrealized Losses Less than 12 months | 0 | 0 | ||||
Fair Value 12 months or more | 2,809 | 2,850 | ||||
Unrealized Losses 12 months or more | 246 | 416 | ||||
Total Fair Value | 2,809 | 2,850 | ||||
Total Unrealized Losses | 246 | 416 | ||||
Allowance for credit losses | 400 | 300 | ||||
MBS [Member] | FHLMC [Member] | ||||||
Schedule Of Available For Sale Securities [Line Items] | ||||||
Fair Value Less than 12 months | 779,727 | 986,345 | ||||
Unrealized Losses Less than 12 months | 83,109 | 16,144 | ||||
Fair Value 12 months or more | 441,983 | 221,896 | ||||
Unrealized Losses 12 months or more | 71,319 | 8,481 | ||||
Total Fair Value | 1,221,710 | 1,208,241 | ||||
Total Unrealized Losses | 154,428 | 24,625 | ||||
MBS [Member] | GNMA [Member] | ||||||
Schedule Of Available For Sale Securities [Line Items] | ||||||
Fair Value Less than 12 months | 184,481 | 194,271 | ||||
Unrealized Losses Less than 12 months | 12,334 | 1,329 | ||||
Fair Value 12 months or more | 57,306 | 41,233 | ||||
Unrealized Losses 12 months or more | 9,290 | 984 | ||||
Total Fair Value | 241,787 | 235,504 | ||||
Total Unrealized Losses | 21,624 | 2,313 | ||||
MBS [Member] | FNMA [Member] | ||||||
Schedule Of Available For Sale Securities [Line Items] | ||||||
Fair Value Less than 12 months | 1,004,966 | 1,237,701 | ||||
Unrealized Losses Less than 12 months | 89,854 | 19,843 | ||||
Fair Value 12 months or more | 508,377 | 112,559 | ||||
Unrealized Losses 12 months or more | 74,758 | 3,821 | ||||
Total Fair Value | 1,513,343 | 1,350,260 | ||||
Total Unrealized Losses | 164,612 | 23,664 | ||||
MBS [Member] | Collateralized mortgage obligations guaranteed by FHLMC, FNMA and GNMA [Member] | ||||||
Schedule Of Available For Sale Securities [Line Items] | ||||||
Fair Value Less than 12 months | 260,811 | 466,004 | ||||
Unrealized Losses Less than 12 months | 36,877 | 13,552 | ||||
Fair Value 12 months or more | 146,590 | 16,656 | ||||
Unrealized Losses 12 months or more | 25,216 | 360 | ||||
Total Fair Value | 407,401 | 482,660 | ||||
Total Unrealized Losses | 62,093 | 13,912 | ||||
MBS [Member] | Private label [Member] | ||||||
Schedule Of Available For Sale Securities [Line Items] | ||||||
Fair Value Less than 12 months | 0 | 0 | ||||
Unrealized Losses Less than 12 months | 0 | 0 | ||||
Fair Value 12 months or more | 6,371 | 7,234 | ||||
Unrealized Losses 12 months or more | 2,526 | 1,963 | ||||
Total Fair Value | 6,371 | 7,234 | ||||
Total Unrealized Losses | $ 2,526 | $ 1,963 |
DEBT SECURITIES - Significant A
DEBT SECURITIES - Significant Assumptions in Valuation of Private Label MBS (Detail) - MBS [Member] - Private label [Member] | Jun. 30, 2022 | Dec. 31, 2021 |
Discount rate [Member] | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.152 | 0.129 |
Discount rate [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.152 | 0.129 |
Discount rate [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.152 | 0.129 |
Prepayment rate [Member] | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.127 | 0.152 |
Prepayment rate [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.032 | 0.076 |
Prepayment rate [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.209 | 0.249 |
Projected Cumulative Loss Rate [Member] | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.056 | 0.076 |
Projected Cumulative Loss Rate [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.004 | 0.002 |
Projected Cumulative Loss Rate [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.158 | 0.157 |
DEBT SECURITIES - ACL for Debt
DEBT SECURITIES - ACL for Debt Securities Available-for-Sale (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||||
Beginning Balance | $ 1,105,000 | |||
Ending Balance | $ 676,000 | 676,000 | ||
MBS [Member] | ||||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||||
Beginning Balance | 797,000 | |||
Ending Balance | 290,000 | 290,000 | ||
MBS [Member] | Private label [Member] | ||||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||||
Beginning Balance | 800,000 | |||
Ending Balance | 300,000 | 300,000 | ||
Available-for-sale Securities [Member] | ||||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||||
Beginning Balance | 711,000 | $ 1,183,000 | 1,105,000 | $ 1,310,000 |
Provision for credit losses - (benefit) expense | (35,000) | (423,000) | (127,000) | |
Net charge-offs | (17,000) | (6,000) | (17,000) | |
Ending Balance | 676,000 | 1,166,000 | 676,000 | 1,166,000 |
Available-for-sale Securities [Member] | MBS [Member] | Private label [Member] | ||||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||||
Beginning Balance | 403,000 | 875,000 | 797,000 | 1,002,000 |
Provision for credit losses - (benefit) expense | (113,000) | (501,000) | (127,000) | |
Net charge-offs | (17,000) | (6,000) | (17,000) | |
Ending Balance | 290,000 | 858,000 | 290,000 | 858,000 |
Available-for-sale Securities [Member] | Puerto Rico government obligations [Member] | ||||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||||
Beginning Balance | 308,000 | 308,000 | 308,000 | 308,000 |
Provision for credit losses - (benefit) expense | 78,000 | 78,000 | 0 | |
Net charge-offs | 0 | 0 | 0 | |
Ending Balance | $ 386,000 | $ 308,000 | $ 386,000 | $ 308,000 |
DEBT SECURITIES - Investment _2
DEBT SECURITIES - Investment Securities Held to Maturity (Detail) - USD ($) | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule Of Held To Maturity Securities [Line Items] | ||||||
Held To Maturity Securities Amortized | $ 458,227,000 | |||||
Held to Maturity Gross Unrecognized gains | 3,449,000 | |||||
Held to Maturity Gross Unrecognized losses | 8,434,000 | |||||
Held to Maturity Fair value | 453,242,000 | $ 167,147,000 | ||||
Allowance for credit losses, Held-to-Maturity securities | $ 8,885,000 | 8,571,000 | ||||
Held to Maturity Weighted-average yield | 3.68% | |||||
Mortgage Backed Securities [Member] | ||||||
Schedule Of Held To Maturity Securities [Line Items] | ||||||
Held To Maturity Securities Amortized | $ 279,812,000 | |||||
Held to Maturity Gross Unrecognized gains | 334,000 | |||||
Held to Maturity Gross Unrecognized losses | 1,923,000 | |||||
Held to Maturity Fair value | 278,223,000 | |||||
Allowance for credit losses, Held-to-Maturity securities | $ 0 | |||||
Held to Maturity Weighted-average yield | 3.23% | |||||
Municipal Bonds [Member] | Puerto Rico [Member] | ||||||
Schedule Of Held To Maturity Securities [Line Items] | ||||||
Held to Matury Amortized Due Withing One Year | $ 595,000 | 2,995,000 | ||||
Held to Maturity Gross Unrecognized gain Due Within One Year | 0 | 5,000 | ||||
Held to Maturity Gross Unrecognized losses Due Within One Year | 0 | 0 | ||||
Held to Maturity Fair value Due Within One Year | 595,000 | 3,000,000 | ||||
Allowance for credit losses Due within one year | $ 1,000 | $ 70,000 | ||||
Held to Maturity Weighted-average yield Due withing One Year | 5.45% | 5.39% | ||||
Held to Maturity Amortized Cost After 1 to 5 years | $ 15,021,000 | $ 14,785,000 | ||||
Held to Maturity Gross Unrecognized gains After 1 to 5 years | 658,000 | 526,000 | ||||
Held to Maturity Gross Unrecognized losses After 1 to 5 years | 44,000 | 156,000 | ||||
Held to Maturity Fair value After 1 to 5 years | 15,635,000 | 15,155,000 | ||||
Allowance for credit losses After 1 to 5 years | $ 175,000 | $ 347,000 | ||||
Held to Maturity Weighted-average yield After 1 to 5 years | 2.98% | 2.35% | ||||
Held to Maturity Amortized Cost After 5 to 10 years | $ 93,031,000 | $ 90,584,000 | ||||
Held to Maturity Gross Unrecognized gains After 5 to 10 yearss | 2,457,000 | 1,555,000 | ||||
Held to Maturity Gross Unrecognized losses After 5 to 10 years | 2,286,000 | 3,139,000 | ||||
Held to Maturity Fair value After 5 to 10 years | 93,202,000 | 89,000,000 | ||||
Allowance for credit losses After 5 to 10 years | $ 3,411,000 | $ 3,258,000 | ||||
Held to Maturity Weighted-average yield After 5 to 10 years | 4.64% | 4.25% | ||||
Held to Maturity Amortized Cost After 10 years | $ 69,768,000 | $ 69,769,000 | ||||
Held to Maturity Gross Unrecognized gains After 10 years | 0 | 0 | ||||
Held to Maturity Gross Unrecognized losses After 10 years | 4,181,000 | 9,777,000 | ||||
Held to Maturity Fair value After 10 years | 65,587,000 | 59,992,000 | ||||
Allowance for credit losses After 10 years | $ 5,298,000 | $ 4,896,000 | ||||
Held to Maturity Weighted-average yield After 10 years | 4.35% | 4.06% | ||||
Held To Maturity Securities Amortized | $ 178,415,000 | $ 178,133,000 | ||||
Held to Maturity Gross Unrecognized gains | 3,115,000 | 2,086,000 | ||||
Held to Maturity Gross Unrecognized losses | 6,511,000 | 13,072,000 | ||||
Held to Maturity Fair value | 175,019,000 | 167,147,000 | ||||
Allowance for credit losses, Held-to-Maturity securities | $ 8,885,000 | $ 12,324,000 | $ 8,571,000 | $ 10,685,000 | $ 8,869,000 | $ 8,845,000 |
Held to Maturity Weighted-average yield | 4.39% | 4.04% | ||||
FHLMC [Member] | Mortgage Backed Securities [Member] | ||||||
Schedule Of Held To Maturity Securities [Line Items] | ||||||
Held to Maturity Amortized Cost After 5 to 10 years | $ 24,398,000 | |||||
Held to Maturity Gross Unrecognized gains After 5 to 10 yearss | 8,000 | |||||
Held to Maturity Gross Unrecognized losses After 5 to 10 years | 0 | |||||
Held to Maturity Fair value After 5 to 10 years | 24,406,000 | |||||
Allowance for credit losses After 5 to 10 years | $ 0 | |||||
Held to Maturity Weighted-average yield After 5 to 10 years | 3.04% | |||||
Held to Maturity Amortized Cost After 10 years | $ 20,211,000 | |||||
Held to Maturity Gross Unrecognized gains After 10 years | 0 | |||||
Held to Maturity Gross Unrecognized losses After 10 years | 84,000 | |||||
Held to Maturity Fair value After 10 years | 20,127,000 | |||||
Allowance for credit losses After 10 years | $ 0 | |||||
Held to Maturity Weighted-average yield After 10 years | 4.39% | |||||
Held To Maturity Securities Amortized | $ 44,609,000 | |||||
Held to Maturity Gross Unrecognized gains | 8,000 | |||||
Held to Maturity Gross Unrecognized losses | 84,000 | |||||
Held to Maturity Fair value | 44,533,000 | |||||
Allowance for credit losses, Held-to-Maturity securities | $ 0 | |||||
Held to Maturity Weighted-average yield | 3.65% | |||||
GNMA [Member] | Mortgage Backed Securities [Member] | ||||||
Schedule Of Held To Maturity Securities [Line Items] | ||||||
Held to Maturity Amortized Cost After 10 years | $ 20,657,000 | |||||
Held to Maturity Gross Unrecognized gains After 10 years | 0 | |||||
Held to Maturity Gross Unrecognized losses After 10 years | 121,000 | |||||
Held to Maturity Fair value After 10 years | 20,536,000 | |||||
Allowance for credit losses After 10 years | $ 0 | |||||
Held to Maturity Weighted-average yield After 10 years | 3.38% | |||||
FNMA [Member] | Mortgage Backed Securities [Member] | ||||||
Schedule Of Held To Maturity Securities [Line Items] | ||||||
Held to Maturity Amortized Cost After 10 years | $ 75,530,000 | |||||
Held to Maturity Gross Unrecognized gains After 10 years | 326,000 | |||||
Held to Maturity Gross Unrecognized losses After 10 years | 242,000 | |||||
Held to Maturity Fair value After 10 years | 75,614,000 | |||||
Allowance for credit losses After 10 years | $ 0 | |||||
Held to Maturity Weighted-average yield After 10 years | 2.90% | |||||
Collateralized Mortgage Obligations [Member] | Mortgage Backed Securities [Member] | ||||||
Schedule Of Held To Maturity Securities [Line Items] | ||||||
Held to Maturity Amortized Cost After 10 years | $ 139,016,000 | |||||
Held to Maturity Gross Unrecognized gains After 10 years | 0 | |||||
Held to Maturity Gross Unrecognized losses After 10 years | 1,476,000 | |||||
Held to Maturity Fair value After 10 years | 137,540,000 | |||||
Allowance for credit losses After 10 years | $ 0 | |||||
Held to Maturity Weighted-average yield After 10 years | 3.25% |
DEBT SECURITIES - Investments S
DEBT SECURITIES - Investments Securities Held to Maturity (Securities in continous unrealized loss position) (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Schedule Of Held To Maturity Securities [Line Items] | ||
HTM Fair Value Less than 12 months | $ 213,240 | |
HTM Unrealized Losses Less than 12 months | 1,923 | |
HTM Fair Value 12 months or more | 127,321 | |
HTM Unrealized Losses 12 months or more | 6,511 | |
HTM Fair Value | 340,561 | |
HTM Unrealized Losses | 8,434 | |
FHLMC [Member] | Mortgage Backed Securities [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
HTM Fair Value Less than 12 months | 20,127 | |
HTM Unrealized Losses Less than 12 months | 84 | |
HTM Fair Value 12 months or more | 0 | |
HTM Unrealized Losses 12 months or more | 0 | |
HTM Fair Value | 20,127 | |
HTM Unrealized Losses | 84 | |
GNMA [Member] | Mortgage Backed Securities [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
HTM Fair Value Less than 12 months | 20,536 | |
HTM Unrealized Losses Less than 12 months | 121 | |
HTM Fair Value 12 months or more | 0 | |
HTM Unrealized Losses 12 months or more | 0 | |
HTM Fair Value | 20,536 | |
HTM Unrealized Losses | 121 | |
FNMA [Member] | Mortgage Backed Securities [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
HTM Fair Value Less than 12 months | 35,037 | |
HTM Unrealized Losses Less than 12 months | 242 | |
HTM Fair Value 12 months or more | 0 | |
HTM Unrealized Losses 12 months or more | 0 | |
HTM Fair Value | 35,037 | |
HTM Unrealized Losses | 242 | |
Collateralized Mortgage Obligations [Member] | Mortgage Backed Securities [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
HTM Fair Value Less than 12 months | 137,540 | |
HTM Unrealized Losses Less than 12 months | 1,476 | |
HTM Fair Value 12 months or more | 0 | |
HTM Unrealized Losses 12 months or more | 0 | |
HTM Fair Value | 137,540 | |
HTM Unrealized Losses | 1,476 | |
Puerto Rico [Member] | Municipal Bonds [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
HTM Fair Value Less than 12 months | 0 | $ 0 |
HTM Unrealized Losses Less than 12 months | 0 | 0 |
HTM Fair Value 12 months or more | 127,321 | 140,732 |
HTM Unrealized Losses 12 months or more | 6,511 | 13,072 |
HTM Fair Value | 127,321 | 140,732 |
HTM Unrealized Losses | $ 6,511 | $ 13,072 |
DEBT SECURITIES - ACL on Debt S
DEBT SECURITIES - ACL on Debt Securities Held-To-Maturity (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||||
Beginning Balance | $ 8,571,000 | |||
Ending Balance | $ 8,885,000 | 8,885,000 | ||
Municipal Bonds [Member] | PUERTO RICO | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||||
Beginning Balance | 12,324,000 | $ 8,869,000 | 8,571,000 | $ 8,845,000 |
Ending Balance | 8,885,000 | 10,685,000 | 8,885,000 | 10,685,000 |
Municipal Bonds [Member] | Held-to-maturity Securities [Member] | PUERTO RICO | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||||
Provision for credit loss expense | $ (3,439,000) | $ 1,816,000 | $ 314,000 | $ 1,840,000 |
LOANS HELD FOR INVESTMENT - Loa
LOANS HELD FOR INVESTMENT - Loan Portfolio Held for Investment (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Loans held for investment | $ 11,206,874 | $ 11,060,658 |
Puerto Rico and Virgin Islands regions [Member] | ||
Loans held for investment | 9,217,727 | 9,113,918 |
Florida region [Member} | ||
Loans held for investment | 1,989,147 | 1,946,740 |
Residential Portfolio Segment [Member] | ||
Loans held for investment | 2,851,685 | 2,978,895 |
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Loans held for investment | 2,444,532 | 2,549,573 |
Residential Portfolio Segment [Member] | Florida region [Member} | ||
Loans held for investment | 407,153 | 429,322 |
Commercial Portfolio Segment [Member] | Commercial and Industrial loans [Member] | ||
Loans held for investment | 2,862,917 | 2,887,251 |
Commercial Portfolio Segment [Member] | Commercial and Industrial loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Loans held for investment | 1,869,210 | 1,946,597 |
Commercial Portfolio Segment [Member] | Commercial and Industrial loans [Member] | Florida region [Member} | ||
Loans held for investment | 993,707 | 940,654 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Loans held for investment | 2,270,113 | 2,167,469 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Loans held for investment | 1,784,879 | 1,702,231 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member} | ||
Loans held for investment | 485,234 | 465,238 |
Commercial Portfolio Segment [Member] | Construction loans [Member] | ||
Loans held for investment | 115,310 | 138,999 |
Commercial Portfolio Segment [Member] | Construction loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Loans held for investment | 25,477 | 43,133 |
Commercial Portfolio Segment [Member] | Construction loans [Member] | Florida region [Member} | ||
Loans held for investment | 89,833 | 95,866 |
Consumer Portfolio Segment [Member] | ||
Loans held for investment | 3,106,849 | 2,888,044 |
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Loans held for investment | 3,093,629 | 2,872,384 |
Consumer Portfolio Segment [Member] | Florida region [Member} | ||
Loans held for investment | $ 13,220 | $ 15,660 |
LOANS HELD FOR INVESTMENT - L_2
LOANS HELD FOR INVESTMENT - Loan Portfolio Held for Investment (Parenthetical) (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, before Allowance for Credit Loss | $ 11,206,874 | $ 11,060,658 |
Unaccreted fair value net purchase discounts | 32,000 | 35,300 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 2,862,917 | 2,887,251 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Commercial loans secured by real estate [Member] | ||
Financing Receivable, before Allowance for Credit Loss | $ 893,000 | $ 952,100 |
LOANS HELD FOR INVESTMENT - Cor
LOANS HELD FOR INVESTMENT - Corporation's Aging of Loans Held for Investment Portfolio (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | $ 11,206,874 | $ 11,060,658 |
Loans Past Due 90 days or more and Still Accruing | 94,361 | 114,679 |
Nonaccrual | 99,110 | 110,717 |
Nonaccrual Loans with No ACL | 26,502 | 27,733 |
Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 10,921,180 | 10,744,930 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 47,964 | 44,202 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 44,259 | 46,130 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,851,685 | 2,978,895 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,730,525 | 2,853,503 |
Loans Past Due 90 days or more and Still Accruing | 21,614 | 28,433 |
Nonaccrual | 44,588 | 55,127 |
Nonaccrual Loans with No ACL | 3,351 | 3,689 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,633,359 | 2,738,111 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 0 | 0 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 30,964 | 31,832 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 121,160 | 125,392 |
Loans Past Due 90 days or more and Still Accruing | 55,752 | 65,515 |
Nonaccrual | 0 | 0 |
Nonaccrual Loans with No ACL | 0 | 0 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 63,062 | 57,522 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 0 | 0 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,346 | 2,355 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,862,917 | 2,887,251 |
Loans Past Due 90 days or more and Still Accruing | 11,972 | 7,827 |
Nonaccrual | 17,079 | 17,135 |
Nonaccrual Loans with No ACL | 11,619 | 11,393 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,828,679 | 2,858,397 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 4,990 | 2,047 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 197 | 1,845 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,270,113 | 2,167,469 |
Loans Past Due 90 days or more and Still Accruing | 1,613 | 9,919 |
Nonaccrual | 24,753 | 25,337 |
Nonaccrual Loans with No ACL | 7,736 | 8,289 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,243,330 | 2,129,375 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 0 | 2,402 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 417 | 436 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 115,310 | 138,999 |
Loans Past Due 90 days or more and Still Accruing | 3 | 0 |
Nonaccrual | 2,375 | 2,664 |
Nonaccrual Loans with No ACL | 982 | 1,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 112,932 | 136,317 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 0 | 18 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 3,106,849 | 2,888,044 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 1,710,229 | 1,571,540 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Nonaccrual | 6,916 | 6,684 |
Nonaccrual Loans with No ACL | 2,535 | 3,146 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 1,668,658 | 1,533,445 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 29,884 | 26,462 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 4,771 | 4,949 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 633,781 | 575,005 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Nonaccrual | 1,047 | 866 |
Nonaccrual Loans with No ACL | 266 | 196 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 626,352 | 568,606 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 5,234 | 4,820 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 1,148 | 713 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 327,146 | 316,182 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Nonaccrual | 893 | 1,208 |
Nonaccrual Loans with No ACL | 0 | 0 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 321,892 | 310,390 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,903 | 3,299 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 1,458 | 1,285 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 297,289 | 290,226 |
Loans Past Due 90 days or more and Still Accruing | 3,407 | 2,985 |
Nonaccrual | 0 | 0 |
Nonaccrual Loans with No ACL | 0 | 0 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 288,774 | 282,179 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 3,096 | 3,158 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,012 | 1,904 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 138,404 | 135,091 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 |
Nonaccrual | 1,459 | 1,696 |
Nonaccrual Loans with No ACL | 13 | 20 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Current [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 134,142 | 130,588 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 1,857 | 1,996 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | $ 946 | $ 811 |
LOANS HELD FOR INVESTMENT - C_2
LOANS HELD FOR INVESTMENT - Corporation's Aging of Loans Held for Investment Portfolio (Parenthetical) (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 11,206,874 | $ 11,060,658 |
Nonaccrual Loans with No ACL | 26,502 | 27,733 |
Loans Past Due 90 days or more and Still Accruing | 94,361 | 114,679 |
Nonaccrual | 99,110 | 110,717 |
Total TDR loans | 394,500 | |
Performing Financial Instruments [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total TDR loans | 345,400 | 363,400 |
PCD loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans Past Due 90 days or more and Still Accruing | 15,300 | 20,600 |
Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,989,147 | 1,946,740 |
Nonaccrual | 7,100 | 8,200 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 47,964 | 44,202 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,851,685 | 2,978,895 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,807,097 | 2,923,768 |
Residential Portfolio Segment [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 407,153 | 429,322 |
Residential Portfolio Segment [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 401,181 | 422,170 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,730,525 | 2,853,503 |
Nonaccrual Loans with No ACL | 3,351 | 3,689 |
Loans Past Due 90 days or more and Still Accruing | 21,614 | 28,433 |
Nonaccrual | 44,588 | 55,127 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,685,937 | 2,798,376 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | PCD loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans Past Due 90 days or more and Still Accruing | 14,300 | 19,100 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 406,421 | 428,582 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 400,449 | 421,430 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Less Than Two Payments In Arrears [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 61,600 | 66,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 121,160 | 125,392 |
Nonaccrual Loans with No ACL | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 55,752 | 65,515 |
Nonaccrual | 0 | 0 |
Total TDR loans | 55,100 | 57,600 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 121,160 | 125,392 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 732 | 740 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 732 | 740 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Past Due, 15 Months Delinquent [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans Past Due 90 days or more and Still Accruing | 35,600 | 46,600 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Less Than Two Payments In Arrears [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 6,700 | 6,100 |
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 10,800 | 7,200 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,862,917 | 2,887,251 |
Nonaccrual Loans with No ACL | 11,619 | 11,393 |
Loans Past Due 90 days or more and Still Accruing | 11,972 | 7,827 |
Nonaccrual | 17,079 | 17,135 |
Commercial Portfolio Segment [Member] | Florida region [Member} | Commercial And Industrial Sector [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 993,707 | 940,654 |
Nonaccrual Loans with No ACL | 400 | 500 |
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,990 | 2,047 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,270,113 | 2,167,469 |
Nonaccrual Loans with No ACL | 7,736 | 8,289 |
Loans Past Due 90 days or more and Still Accruing | 1,613 | 9,919 |
Nonaccrual | 24,753 | 25,337 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | PCD loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans Past Due 90 days or more and Still Accruing | 1,000 | 1,500 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member} | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 485,234 | 465,238 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 2,402 |
Commercial Portfolio Segment [Member] | Less Than Two Payments In Arrears [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 700 | $ 700 |
LOANS HELD FOR INVESTMENT - C_3
LOANS HELD FOR INVESTMENT - Corporation's Commercial and Construction Loans by Portfolio Classes and by Origination Year Based on the Internal Credit Risk Category (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | $ 11,206,874 | $ 11,060,658 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 9,217,727 | 9,113,918 |
Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 1,989,147 | 1,946,740 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 200,432 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 436,981 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 317,223 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 600,527 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 206,794 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 389,597 | |
Financing Receivable, Revolving | 711,363 | |
Loans held for investment | 2,862,917 | 2,887,251 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 58,936 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 248,228 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 199,175 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 347,821 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 137,025 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 311,871 | |
Financing Receivable, Revolving | 566,154 | |
Loans held for investment | 1,869,210 | 1,946,597 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 141,496 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 188,753 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 118,048 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 252,706 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 69,769 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 77,726 | |
Financing Receivable, Revolving | 145,209 | |
Loans held for investment | 993,707 | 940,654 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 199,358 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 423,448 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 290,337 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 537,797 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 191,465 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 332,600 | |
Financing Receivable, Revolving | 665,033 | |
Loans held for investment | 2,640,038 | 2,679,375 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Pass [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 57,862 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 234,695 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 196,485 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 333,737 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 134,771 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 271,681 | |
Financing Receivable, Revolving | 542,321 | |
Loans held for investment | 1,771,552 | 1,852,552 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Pass [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 141,496 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 188,753 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 93,852 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 204,060 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 56,694 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 60,919 | |
Financing Receivable, Revolving | 122,712 | |
Loans held for investment | 868,486 | 826,823 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,037 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 9,395 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,293 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 14,682 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 13,314 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 18,059 | |
Financing Receivable, Revolving | 38,172 | |
Loans held for investment | 95,952 | 82,596 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Special Mention [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,037 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 9,395 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,293 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 239 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,696 | |
Financing Receivable, Revolving | 16,010 | |
Loans held for investment | 33,670 | 32,650 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Special Mention [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 14,682 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 13,075 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 12,363 | |
Financing Receivable, Revolving | 22,162 | |
Loans held for investment | 62,282 | 49,946 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 37 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 4,138 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 25,593 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 48,048 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,015 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 38,938 | |
Financing Receivable, Revolving | 8,158 | |
Loans held for investment | 126,927 | 125,280 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Substandard [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 37 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 4,138 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,397 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 14,084 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,015 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 34,494 | |
Financing Receivable, Revolving | 7,823 | |
Loans held for investment | 63,988 | 61,395 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Substandard [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 24,196 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 33,964 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,444 | |
Financing Receivable, Revolving | 335 | |
Loans held for investment | 62,939 | 63,885 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Doubtful [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Doubtful [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Loss [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Loss [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 316,568 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 238,204 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 423,479 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 394,703 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 307,296 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 572,895 | |
Financing Receivable, Revolving | 16,968 | |
Loans held for investment | 2,270,113 | 2,167,469 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 208,431 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 157,244 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 371,979 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 324,067 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 223,949 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 499,196 | |
Financing Receivable, Revolving | 13 | |
Loans held for investment | 1,784,879 | 1,702,231 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 108,137 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 80,960 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 51,500 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 70,636 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 83,347 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 73,699 | |
Financing Receivable, Revolving | 16,955 | |
Loans held for investment | 485,234 | 465,238 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 315,083 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 237,567 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 404,823 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 293,934 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 275,473 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 401,865 | |
Financing Receivable, Revolving | 16,968 | |
Loans held for investment | 1,945,713 | 1,799,873 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Pass [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 206,946 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 156,607 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 361,553 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 236,728 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 192,126 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 328,477 | |
Financing Receivable, Revolving | 13 | |
Loans held for investment | 1,482,450 | 1,395,569 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Pass [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 108,137 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 80,960 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 43,270 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 57,206 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 83,347 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 73,388 | |
Financing Receivable, Revolving | 16,955 | |
Loans held for investment | 463,263 | 404,304 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,345 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 17,488 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 97,817 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 31,055 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 136,282 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 283,987 | 319,881 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Special Mention [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,345 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,426 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 84,387 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 31,055 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 136,282 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 263,495 | 259,263 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Special Mention [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 7,062 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 13,430 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 20,492 | 60,618 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 140 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 637 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,168 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,952 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 768 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 34,748 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 40,413 | 47,715 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Substandard [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 140 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 637 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,952 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 768 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 34,437 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 38,934 | 47,399 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Substandard [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,168 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 311 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,479 | 316 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Doubtful [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Doubtful [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Loss [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Loss [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 50,016 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 56,718 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 962 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 106 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 274 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,864 | |
Financing Receivable, Revolving | 370 | |
Loans held for investment | 115,310 | 138,999 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 4,741 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 12,633 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 962 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 274 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,864 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 25,477 | 43,133 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 45,275 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 44,085 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 103 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 370 | |
Loans held for investment | 89,833 | 95,866 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 50,016 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 56,718 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 962 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 103 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,747 | |
Financing Receivable, Revolving | 370 | |
Loans held for investment | 111,916 | 133,932 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 4,741 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 12,633 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 962 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,747 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 22,083 | 38,066 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 45,275 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 44,085 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 103 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 370 | |
Loans held for investment | 89,833 | 95,866 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3 | 765 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3 | 765 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 274 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,117 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,391 | 4,302 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 274 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,117 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,391 | 4,302 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Loss [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Loss [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT - C_4
LOANS HELD FOR INVESTMENT - Corporation's Residential Mortgage Loans By Origination Year Based on Accrual Status (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | $ 11,206,874 | $ 11,060,658 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 9,217,727 | 9,113,918 |
Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,989,147 | 1,946,740 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 114,460 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 129,740 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 66,814 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 86,580 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 123,368 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,330,723 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 2,851,685 | 2,978,895 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 114,460 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 129,705 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 66,737 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 86,186 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 123,089 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,286,920 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 2,807,097 | 2,923,768 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 77 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 394 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 279 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 43,803 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 44,588 | 55,127 |
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 78,843 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 78,792 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 33,556 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 51,872 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 82,170 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,119,299 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 2,444,532 | 2,549,573 |
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 78,843 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 78,757 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 33,479 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 51,759 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 81,891 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,081,187 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 2,405,916 | 2,501,598 |
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 77 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 113 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 279 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 38,112 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 38,616 | 47,975 |
Residential Portfolio Segment [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 35,617 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 50,948 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 33,258 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 34,708 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 41,198 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 211,424 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 407,153 | 429,322 |
Residential Portfolio Segment [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 35,617 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 50,948 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 33,258 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 34,427 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 41,198 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 205,733 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 401,181 | 422,170 |
Residential Portfolio Segment [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 281 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,691 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 5,972 | 7,152 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 657 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 871 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,240 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,924 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 115,468 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 121,160 | 125,392 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 657 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 871 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,240 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,924 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 115,468 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 121,160 | 125,392 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 0 | 0 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 657 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 871 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,240 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,924 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 114,736 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 120,428 | 124,652 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 657 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 871 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,240 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,924 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 114,736 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 120,428 | 124,652 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 0 | 0 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 732 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 732 | 740 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 732 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 732 | 740 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 0 | 0 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 114,460 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 129,083 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 65,943 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 85,340 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 120,444 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,215,255 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 2,730,525 | 2,853,503 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 114,460 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 129,048 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 65,866 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 84,946 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 120,165 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,171,452 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 2,685,937 | 2,798,376 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 77 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 394 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 279 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 43,803 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 44,588 | 55,127 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 78,843 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 78,135 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 32,685 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 50,632 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 79,246 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,004,563 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 2,324,104 | 2,424,921 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 78,843 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 78,100 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 32,608 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 50,519 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 78,967 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,966,451 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 2,285,488 | 2,376,946 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 77 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 113 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 279 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 38,112 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 38,616 | 47,975 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 35,617 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 50,948 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 33,258 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 34,708 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 41,198 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 210,692 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 406,421 | 428,582 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 35,617 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 50,948 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 33,258 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 34,427 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 41,198 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 205,001 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | 400,449 | 421,430 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 281 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,691 | |
Financing Receivable, Revolving | 0 | |
Total Past Due | $ 5,972 | $ 7,152 |
LOANS HELD FOR INVESTMENT - C_5
LOANS HELD FOR INVESTMENT - Corporation's Consumer Loans by Origination Year Based on Accrual Status (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | $ 11,206,874 | $ 11,060,658 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 9,217,727 | 9,113,918 |
Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans held for investment | 1,989,147 | 1,946,740 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 652,400 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 897,713 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 453,281 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 440,813 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 231,062 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 122,350 | |
Financing Receivable, Revolving | 309,230 | |
Loans held for investment | 3,106,849 | 2,888,044 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 652,291 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 896,010 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 452,012 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 438,205 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 229,136 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 119,901 | |
Financing Receivable, Revolving | 308,979 | |
Loans held for investment | 3,096,534 | 2,877,590 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 109 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,703 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,269 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,608 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,926 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,449 | |
Financing Receivable, Revolving | 251 | |
Loans held for investment | 10,315 | 10,454 |
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 652,052 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 897,407 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 452,792 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 440,362 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 227,616 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 117,296 | |
Financing Receivable, Revolving | 306,104 | |
Loans held for investment | 3,093,629 | 2,872,384 |
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 651,943 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 895,704 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 451,523 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 437,761 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 225,738 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 114,884 | |
Financing Receivable, Revolving | 305,965 | |
Loans held for investment | 3,083,518 | 2,862,063 |
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 109 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,703 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,269 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,601 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,878 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,412 | |
Financing Receivable, Revolving | 139 | |
Loans held for investment | 10,111 | 10,321 |
Consumer Portfolio Segment [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 348 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 306 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 489 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 451 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,446 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,054 | |
Financing Receivable, Revolving | 3,126 | |
Loans held for investment | 13,220 | 15,660 |
Consumer Portfolio Segment [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 348 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 306 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 489 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 444 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,398 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,017 | |
Financing Receivable, Revolving | 3,014 | |
Loans held for investment | 13,016 | 15,527 |
Consumer Portfolio Segment [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 48 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 37 | |
Financing Receivable, Revolving | 112 | |
Loans held for investment | 204 | 133 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 379,330 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 580,532 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 299,649 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 252,753 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 130,953 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 67,012 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,710,229 | 1,571,540 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 379,265 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 579,362 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 298,766 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 250,936 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 129,490 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 65,494 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,703,313 | 1,564,856 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 65 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,170 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 883 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,817 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,463 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,518 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 6,916 | 6,684 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 379,330 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 580,532 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 299,649 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 252,302 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 127,547 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 65,013 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,704,373 | 1,562,781 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 379,265 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 579,362 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 298,766 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 250,492 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 126,132 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 63,509 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,697,526 | 1,556,097 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 65 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,170 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 883 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,810 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,415 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,504 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 6,847 | 6,684 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 451 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,406 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,999 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 5,856 | 8,759 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 444 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,358 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,985 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 5,787 | 8,759 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 48 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 14 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 69 | 0 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 140,447 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 210,486 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 100,876 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 97,039 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 61,190 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 23,743 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 633,781 | 575,005 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 140,447 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 210,366 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 100,710 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 96,801 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 60,908 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 23,502 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 632,734 | 574,139 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 120 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 166 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 238 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 282 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 241 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,047 | 866 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 140,447 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 210,486 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 100,876 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 97,039 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 61,190 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 23,743 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 633,781 | 575,005 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 140,447 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 210,366 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 100,710 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 96,801 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 60,908 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 23,502 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 632,734 | 574,139 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 120 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 166 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 238 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 282 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 241 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,047 | 866 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 88,097 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 71,217 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 39,607 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 73,164 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 32,754 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 22,307 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 327,146 | 316,182 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 88,091 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 71,060 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 39,500 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 72,802 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 32,609 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 22,191 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 326,253 | 314,974 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 6 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 157 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 107 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 362 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 145 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 116 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 893 | 1,208 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 87,799 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 71,145 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 39,591 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 73,164 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 32,754 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 22,307 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 326,760 | 316,075 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 87,793 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 70,988 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 39,484 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 72,802 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 32,609 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 22,191 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 325,867 | 314,867 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 6 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 157 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 107 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 362 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 145 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 116 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 893 | 1,208 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 298 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 72 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 16 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 386 | 107 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 298 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 72 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 16 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 386 | 107 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 297,289 | |
Loans held for investment | 297,289 | 290,226 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 297,289 | |
Loans held for investment | 297,289 | 290,226 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 297,289 | |
Loans held for investment | 297,289 | 290,226 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 297,289 | |
Loans held for investment | 297,289 | 290,226 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 44,526 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35,478 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 13,149 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,857 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 6,165 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9,288 | |
Financing Receivable, Revolving | 11,941 | |
Loans held for investment | 138,404 | 135,091 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 44,488 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35,222 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 13,036 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,666 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 6,129 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 8,714 | |
Financing Receivable, Revolving | 11,690 | |
Loans held for investment | 136,945 | 133,395 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 38 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 256 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 113 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 191 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 36 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 574 | |
Financing Receivable, Revolving | 251 | |
Loans held for investment | 1,459 | 1,696 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 44,476 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35,244 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,676 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,857 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 6,125 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,233 | |
Financing Receivable, Revolving | 8,815 | |
Loans held for investment | 131,426 | 128,297 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 44,438 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 34,988 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,563 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,666 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 6,089 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,682 | |
Financing Receivable, Revolving | 8,676 | |
Loans held for investment | 130,102 | 126,734 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 38 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 256 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 113 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 191 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 36 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 551 | |
Financing Receivable, Revolving | 139 | |
Loans held for investment | 1,324 | 1,563 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member} | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 50 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 234 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 473 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 40 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,055 | |
Financing Receivable, Revolving | 3,126 | |
Loans held for investment | 6,978 | 6,794 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member} | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 50 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 234 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 473 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 40 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,032 | |
Financing Receivable, Revolving | 3,014 | |
Loans held for investment | 6,843 | 6,661 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member} | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 23 | |
Financing Receivable, Revolving | 112 | |
Loans held for investment | $ 135 | $ 133 |
LOANS HELD FOR INVESTEMNT - Col
LOANS HELD FOR INVESTEMNT - Collateral Dependent Lons Individually Evaluated For Purposes of Determing the ACL (Detail) - Collateral Pledged [Member] - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | $ 72,133 | $ 68,320 |
Related Specific Allowance | 7,934 | 5,887 |
Amortized Cost no ACL | 77,646 | 92,982 |
Amortized Cost | 149,779 | 161,302 |
Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | 0 | 0 |
Related Specific Allowance | 0 | 0 |
Amortized Cost no ACL | 0 | 0 |
Amortized Cost | 0 | 0 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | 41,823 | 51,771 |
Related Specific Allowance | 3,122 | 3,966 |
Amortized Cost no ACL | 818 | 781 |
Amortized Cost | 42,641 | 52,552 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | 17,937 | 5,781 |
Related Specific Allowance | 3,029 | 670 |
Amortized Cost no ACL | 20,791 | 34,043 |
Amortized Cost | 38,728 | 39,824 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | 11,748 | 9,908 |
Related Specific Allowance | 1,707 | 1,152 |
Amortized Cost no ACL | 54,807 | 56,361 |
Amortized Cost | 66,555 | 66,269 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | 0 | 0 |
Related Specific Allowance | 0 | 0 |
Amortized Cost no ACL | 1,230 | 1,797 |
Amortized Cost | 1,230 | 1,797 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | 0 | 0 |
Related Specific Allowance | 0 | 0 |
Amortized Cost no ACL | 0 | 0 |
Amortized Cost | 0 | 0 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | 0 | 0 |
Related Specific Allowance | 0 | 0 |
Amortized Cost no ACL | 0 | 0 |
Amortized Cost | 0 | 0 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | 57 | 78 |
Related Specific Allowance | 1 | 1 |
Amortized Cost no ACL | 0 | 0 |
Amortized Cost | 57 | 78 |
Consumer Portfolio Segment [Member] | Credit Card Receivables [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | 0 | 0 |
Related Specific Allowance | 0 | 0 |
Amortized Cost no ACL | 0 | 0 |
Amortized Cost | 0 | 0 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Amortized Cost with ACL | 568 | 782 |
Related Specific Allowance | 75 | 98 |
Amortized Cost no ACL | 0 | 0 |
Amortized Cost | $ 568 | $ 782 |
LOANS HELD FOR INVESTMENT - Add
LOANS HELD FOR INVESTMENT - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | $ 11,206,874 | $ 11,206,874 | $ 11,060,658 | |||||
Financing Receivable, Troubled Debt Restructuring | 394,500 | 394,500 | ||||||
Interest Receivable | 62,501 | 62,501 | 61,507 | |||||
Financing Receivable Allowance For Credit Losses | 252,152 | $ 324,958 | 252,152 | $ 324,958 | $ 245,447 | 269,030 | $ 358,936 | $ 385,887 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 12,592 | 17,866 | 25,307 | 34,100 | ||||
Loans and finance leases | 12,665 | (26,302) | (4,324) | (40,745) | ||||
Interest Income Recognized on Nonaccrual Loans | 300 | 800 | 700 | 1,300 | ||||
United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 1,989,147 | 1,989,147 | 1,946,740 | |||||
Performing loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Troubled Debt Restructuring | 345,400 | 345,400 | $ 363,400 | |||||
Nonaccrual loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable Accrued Interest Writeoff | $ 300 | 300 | $ 700 | 1,300 | ||||
Collateral Pledged [Member] | Weighted Average [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
LTV Coverage % | 79% | 79% | 78% | |||||
Loans and Finance Receivables [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Interest Receivable | $ 47,100 | $ 47,100 | $ 48,100 | |||||
Loans and Finance Receivables [Member] | Puerto Rico [Member] | Product Concentration Risk [Member] | Loan Portfolio [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Credit risk concentration | 79% | |||||||
Loans and Finance Receivables [Member] | United States [Member] | Product Concentration Risk [Member] | Loan Portfolio [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Credit risk concentration | 18% | |||||||
Loans and Finance Receivables [Member] | USVI and BVI [Member] | Product Concentration Risk [Member] | Loan Portfolio [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Credit risk concentration | 3% | |||||||
GNMA [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Increase (decrease) in loans | $ 79,700 | 105,900 | ||||||
Residential Portfolio Segment [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 2,851,685 | 2,851,685 | 2,978,895 | |||||
Residential mortgage loans in process of foreclosure | 84,800 | $ 84,800 | ||||||
Loans Foreclosure Delinquency Threshold | 120 days | |||||||
Financing Receivable, Real Estate Acquired Through Foreclosure [Policy Text Block] | The Corporation commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent, in accordance with the requirements of the Consumer Financial Protection Bureau (“CFPB”). Foreclosure procedures and timelines vary depending on whether the property is located in a judicial or non-judicial state. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediations, bankruptcy, court delays and title issues. | |||||||
Financing Receivable Allowance For Credit Losses | 65,231 | 112,882 | $ 65,231 | 112,882 | 68,820 | 74,837 | 114,044 | 120,311 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 2,079 | 2,927 | 4,607 | 5,752 | ||||
Loans and finance leases | (2,797) | 825 | (7,668) | (3,350) | ||||
Residential Portfolio Segment [Member] | TDR [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans in trial | 1,900 | |||||||
Residential Portfolio Segment [Member] | Government [Member] | PRHFA [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 88,500 | 88,500 | 92,800 | |||||
Residential Portfolio Segment [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 407,153 | 407,153 | 429,322 | |||||
Residential Portfolio Segment [Member] | Performing loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 2,807,097 | 2,807,097 | 2,923,768 | |||||
Residential Portfolio Segment [Member] | Performing loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 401,181 | 401,181 | 422,170 | |||||
Residential Portfolio Segment [Member] | Nonaccrual loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 44,588 | 44,588 | 55,127 | |||||
Residential Portfolio Segment [Member] | Nonaccrual loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 5,972 | 5,972 | 7,152 | |||||
Residential Portfolio Segment [Member] | PCD loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Residential mortgage loans in process of foreclosure | 12,100 | 12,100 | ||||||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 2,730,525 | 2,730,525 | 2,853,503 | |||||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | TDR [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Troubled Debt Restructuring | 245,400 | 245,400 | ||||||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 406,421 | 406,421 | 428,582 | |||||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Performing loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 2,685,937 | 2,685,937 | 2,798,376 | |||||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Performing loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 400,449 | 400,449 | 421,430 | |||||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Nonaccrual loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 44,588 | 44,588 | 55,127 | |||||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Nonaccrual loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 5,972 | 5,972 | 7,152 | |||||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 121,160 | 121,160 | 125,392 | |||||
Residential mortgage loans in process of foreclosure | 35,100 | 35,100 | ||||||
Financing Receivable, Troubled Debt Restructuring | 55,100 | 55,100 | 57,600 | |||||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 732 | 732 | 740 | |||||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Performing loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 121,160 | 121,160 | 125,392 | |||||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Performing loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 732 | 732 | 740 | |||||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Nonaccrual loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 0 | |||||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Nonaccrual loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 0 | |||||
Residential Portfolio Segment [Member] | FNMA and FHLMC Loans | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Purchase | 200 | 300 | ||||||
Residential Portfolio Segment [Member] | FNMA and FHLMC Loans | Performing loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Sale | 78,400 | 191,400 | ||||||
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 10,800 | 10,800 | 7,200 | |||||
Financing Receivable, Purchase | 6,200 | 300 | ||||||
Commercial Portfolio Segment [Member] | Criticized [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Sale | 24,000 | |||||||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 171,400 | 171,400 | 178,400 | |||||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | Municipalities Borrower [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 28,700 | 28,700 | ||||||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | PREPA [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 11,700 | 11,700 | ||||||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | Property Tax Revenue [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 99,700 | 99,700 | ||||||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | Municipal Special Obligation Bond [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 31,300 | 31,300 | ||||||
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans and Leases Receivable, Gross | 39,500 | 39,500 | 39,200 | |||||
Commercial Portfolio Segment [Member] | Construction loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 115,310 | 115,310 | 138,999 | |||||
Financing Receivable Allowance For Credit Losses | 2,020 | 4,757 | 2,020 | 4,757 | 1,842 | 4,048 | 4,915 | 5,380 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 16 | 0 | 60 | 45 | ||||
Loans and finance leases | 151 | (196) | (2,063) | (652) | ||||
Commercial Portfolio Segment [Member] | Construction loans [Member] | TDR [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Troubled Debt Restructuring | 1,600 | 1,600 | ||||||
Commercial Portfolio Segment [Member] | Construction loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 89,833 | 89,833 | 95,866 | |||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 2,270,113 | 2,270,113 | 2,167,469 | |||||
Financing Receivable Allowance For Credit Losses | 32,619 | 72,452 | 32,619 | 72,452 | 30,138 | 52,771 | 99,782 | 109,342 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 2 | 81 | 39 | 875 | ||||
Loans and finance leases | 1,265 | (27,299) | (21,375) | (36,119) | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | TDR [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Troubled Debt Restructuring | 65,400 | 65,400 | ||||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 485,234 | 485,234 | 465,238 | |||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 2,862,917 | 2,862,917 | 2,887,251 | |||||
Financing Receivable Allowance For Credit Losses | 36,203 | 37,470 | 36,203 | 37,470 | 36,784 | 34,284 | 32,087 | 37,944 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 68 | 60 | 358 | 869 | ||||
Loans and finance leases | (1,102) | (426) | 653 | (5,738) | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | TDR [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Troubled Debt Restructuring | 68,700 | 68,700 | ||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 993,707 | 993,707 | 940,654 | |||||
Financing Receivable, Purchase | 76,400 | 50,000 | ||||||
Consumer Portfolio Segment [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 3,106,849 | 3,106,849 | 2,888,044 | |||||
Financing Receivable Allowance For Credit Losses | 116,079 | 97,397 | 116,079 | 97,397 | $ 107,863 | 103,090 | $ 108,108 | $ 112,910 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 10,427 | 14,798 | 20,243 | 26,559 | ||||
Loans and finance leases | 15,148 | $ 794 | 26,129 | $ 5,114 | ||||
Consumer Portfolio Segment [Member] | TDR [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Troubled Debt Restructuring | 13,400 | 13,400 | ||||||
Outstanding unfunded commitments on TDR loans | 10 | 10 | ||||||
Consumer Portfolio Segment [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 13,220 | 13,220 | 15,660 | |||||
Consumer Portfolio Segment [Member] | Performing loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 3,096,534 | 3,096,534 | 2,877,590 | |||||
Consumer Portfolio Segment [Member] | Performing loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 13,016 | 13,016 | 15,527 | |||||
Consumer Portfolio Segment [Member] | Nonaccrual loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 10,315 | 10,315 | 10,454 | |||||
Consumer Portfolio Segment [Member] | Nonaccrual loans [Member] | United States [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, before Allowance for Credit Loss | $ 204 | $ 204 | $ 133 |
LOANS HELD FOR INVESTMENT - Sel
LOANS HELD FOR INVESTMENT - Selected Information on TDRs includes Recorded Investment by Loan Class and Modification Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | $ 10,895 | $ 4,119 | $ 15,565 | $ 7,138 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 1,451 | 1,531 | 4,444 | 2,797 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 2,303 | 471 | 2,308 | 471 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 5,890 | 532 | 5,890 | 697 |
Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 730 | 626 | 1,723 | 1,441 |
Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 123 | 173 | 387 | 361 |
Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 107 | 207 | 185 | 233 |
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 206 | 530 | 395 | 964 |
Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 85 | 49 | 233 | 174 |
Interest rate below market [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 1,216 | 56 | 1,464 | 72 |
Interest rate below market [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 20 | 215 | 20 |
Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 400 | 0 | 400 | 0 |
Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Interest rate below market [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Interest rate below market [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 667 | 24 | 667 | 24 |
Interest rate below market [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Interest rate below market [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 99 | 0 | 99 | 0 |
Interest rate below market [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Interest rate below market [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 50 | 12 | 83 | 28 |
Maturity or term extension [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 1,045 | 376 | 1,882 | 404 |
Maturity or term extension [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 621 | 0 | 1,352 | 0 |
Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 300 | 0 | 300 |
Maturity or term extension [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 245 | 0 | 245 | 0 |
Maturity or term extension [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Maturity or term extension [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 30 | 0 | 30 | 0 |
Maturity or term extension [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 123 | 49 | 123 | 49 |
Maturity or term extension [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 15 | 0 | 15 |
Maturity or term extension [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Maturity or term extension [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 26 | 12 | 132 | 40 |
Combination of reduction in interest rateand extension of maturity [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 5,425 | 1,612 | 5,804 | 2,790 |
Combination of reduction in interest rateand extension of maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 934 | 190 | 1,513 |
Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Combination of reduction in interest rateand extension of maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 5,178 | 90 | 5,178 | 255 |
Combination of reduction in interest rateand extension of maturity [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Combination of reduction in interest rateand extension of maturity [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 33 | 27 | 33 | 27 |
Combination of reduction in interest rateand extension of maturity [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Combination of reduction in interest rateand extension of maturity [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 8 | 31 | 8 | 31 |
Combination of reduction in interest rateand extension of maturity [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 206 | 530 | 395 | 964 |
Combination of reduction in interest rateand extension of maturity [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forgiveness of principal and/or interest [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 834 | 25 | 843 | 46 |
Forgiveness of principal and/or interest [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 825 | 0 | 825 | 0 |
Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forgiveness of principal and/or interest [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forgiveness of principal and/or interest [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forgiveness of principal and/or interest [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forgiveness of principal and/or interest [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forgiveness of principal and/or interest [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forgiveness of principal and/or interest [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 9 | 25 | 18 | 46 |
Forbearance Agreement [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forbearance Agreement [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forbearance Agreement [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forbearance Agreement [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forbearance Agreement [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forbearance Agreement [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forbearance Agreement [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Forbearance Agreement [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Other Loan Modifications [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 2,375 | 2,050 | 5,572 | 3,826 |
Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 830 | 577 | 2,687 | 1,264 |
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 1,078 | 171 | 1,083 | 171 |
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 467 | 442 | 467 | 442 |
Other Loan Modifications [Member] | Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Other Loan Modifications [Member] | Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 575 | 993 | 1,390 |
Other Loan Modifications [Member] | Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 124 | 264 | 312 |
Other Loan Modifications [Member] | Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 161 | 78 | 187 |
Other Loan Modifications [Member] | Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Other Loan Modifications [Member] | Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 60 |
LOANS HELD FOR INVESTMENT - L_3
LOANS HELD FOR INVESTMENT - Loan Modifications are Considered TDRs (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 USD ($) numberofcontracts | Jun. 30, 2021 USD ($) numberofcontracts | Jun. 30, 2022 USD ($) numberofcontracts | Jun. 30, 2021 USD ($) numberofcontracts | |
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 146 | 188 | 310 | 360 |
Pre-modification Outstanding Recorded Investment | $ 11,125 | $ 4,191 | $ 15,798 | $ 7,315 |
Post-Modification Outstanding Recorded Investment | $ 10,895 | $ 4,119 | $ 15,565 | $ 7,138 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 14 | 14 | 37 | 25 |
Pre-modification Outstanding Recorded Investment | $ 1,452 | $ 1,531 | $ 4,448 | $ 2,898 |
Post-Modification Outstanding Recorded Investment | $ 1,451 | $ 1,531 | $ 4,444 | $ 2,797 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 11 | 2 | 12 | 2 |
Pre-modification Outstanding Recorded Investment | $ 2,531 | $ 594 | $ 2,536 | $ 594 |
Post-Modification Outstanding Recorded Investment | $ 2,303 | $ 471 | $ 2,308 | $ 471 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 3 | 2 | 3 | 4 |
Pre-modification Outstanding Recorded Investment | $ 5,897 | $ 493 | $ 5,897 | $ 658 |
Post-Modification Outstanding Recorded Investment | $ 5,890 | $ 532 | $ 5,890 | $ 697 |
Construction loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 37 | 34 | 88 | 79 |
Pre-modification Outstanding Recorded Investment | $ 727 | $ 622 | $ 1,722 | $ 1,440 |
Post-Modification Outstanding Recorded Investment | $ 730 | $ 626 | $ 1,723 | $ 1,441 |
Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 8 | 10 | 21 | 23 |
Pre-modification Outstanding Recorded Investment | $ 123 | $ 171 | $ 387 | $ 360 |
Post-Modification Outstanding Recorded Investment | $ 123 | $ 173 | $ 387 | $ 361 |
Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 7 | 17 | 12 | 23 |
Pre-modification Outstanding Recorded Investment | $ 107 | $ 201 | $ 185 | $ 227 |
Post-Modification Outstanding Recorded Investment | $ 107 | $ 207 | $ 185 | $ 233 |
Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 21 | 11 | 48 | 41 |
Pre-modification Outstanding Recorded Investment | $ 82 | $ 49 | $ 228 | $ 174 |
Post-Modification Outstanding Recorded Investment | $ 85 | $ 49 | $ 233 | $ 174 |
Credit Card Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 45 | 98 | 89 | 163 |
Pre-modification Outstanding Recorded Investment | $ 206 | $ 530 | $ 395 | $ 964 |
Post-Modification Outstanding Recorded Investment | $ 206 | $ 530 | $ 395 | $ 964 |
LOANS HELD FOR INVESTMENT - L_4
LOANS HELD FOR INVESTMENT - Loan Modifications Considered Troubled Debt Restructurings Defaulted (Detail) - TDR [Member] $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 USD ($) numberofcontracts | Jun. 30, 2021 USD ($) numberofcontracts | Jun. 30, 2022 USD ($) numberofcontracts | Jun. 30, 2021 USD ($) numberofcontracts | |
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 37 | 30 | 78 | 69 |
Recorded investment | $ | $ 539 | $ 263 | $ 1,556 | $ 1,038 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 1 | 0 | 4 | 2 |
Recorded investment | $ | $ 95 | $ 0 | $ 484 | $ 178 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Construction Loans [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Auto loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 20 | 17 | 44 | 46 |
Recorded investment | $ | $ 376 | $ 174 | $ 898 | $ 731 |
Finance Leases [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 0 | 0 | 1 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 16 | $ 0 |
Personal Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Credit Cards | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 14 | 11 | 25 | 12 |
Recorded investment | $ | $ 62 | $ 86 | $ 141 | $ 93 |
Other Loans [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of contracts | numberofcontracts | 2 | 2 | 4 | 9 |
Recorded investment | $ | $ 6 | $ 3 | $ 17 | $ 36 |
ALLOWANCE FOR CREDIT LOSSES O_3
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LOSSES - Activity in ACL on loans and finance leases (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning balance | $ 245,447 | $ 358,936 | $ 269,030 | $ 385,887 |
Provision for credit losses - (benefit) expense | 12,665 | (26,302) | (4,324) | (40,745) |
Charge-offs | (12,592) | (17,866) | (25,307) | (34,100) |
Recoveries | 6,632 | 10,190 | 12,753 | 13,916 |
Ending balance | 252,152 | 324,958 | 252,152 | 324,958 |
Residential Portfolio Segment [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning balance | 68,820 | 114,044 | 74,837 | 120,311 |
Provision for credit losses - (benefit) expense | (2,797) | 825 | (7,668) | (3,350) |
Charge-offs | (2,079) | (2,927) | (4,607) | (5,752) |
Recoveries | 1,287 | 940 | 2,669 | 1,673 |
Ending balance | 65,231 | 112,882 | 65,231 | 112,882 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning balance | 36,784 | 32,087 | 34,284 | 37,944 |
Provision for credit losses - (benefit) expense | (1,102) | (426) | 653 | (5,738) |
Charge-offs | (68) | (60) | (358) | (869) |
Recoveries | 589 | 5,869 | 1,624 | 6,133 |
Ending balance | 36,203 | 37,470 | 36,203 | 37,470 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning balance | 30,138 | 99,782 | 52,771 | 109,342 |
Provision for credit losses - (benefit) expense | 1,265 | (27,299) | (21,375) | (36,119) |
Charge-offs | (2) | (81) | (39) | (875) |
Recoveries | 1,218 | 50 | 1,262 | 104 |
Ending balance | 32,619 | 72,452 | 32,619 | 72,452 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning balance | 1,842 | 4,915 | 4,048 | 5,380 |
Provision for credit losses - (benefit) expense | 151 | (196) | (2,063) | (652) |
Charge-offs | (16) | 0 | (60) | (45) |
Recoveries | 43 | 38 | 95 | 74 |
Ending balance | 2,020 | 4,757 | 2,020 | 4,757 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning balance | 107,863 | 108,108 | 103,090 | 112,910 |
Provision for credit losses - (benefit) expense | 15,148 | 794 | 26,129 | 5,114 |
Charge-offs | (10,427) | (14,798) | (20,243) | (26,559) |
Recoveries | 3,495 | 3,293 | 7,103 | 5,932 |
Ending balance | $ 116,079 | $ 97,397 | $ 116,079 | $ 97,397 |
ALLOWANCE FOR CREDIT LOSSES O_4
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Carrying Amount of Portfolios (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Amortized cost of loans | $ 11,206,874 | $ 11,060,658 | ||||
Allowance for credit losses | 252,152 | 269,030 | $ 245,447 | $ 324,958 | $ 358,936 | $ 385,887 |
Residenital Mortgage Loans [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Amortized cost of loans | 2,851,685 | 2,978,895 | ||||
Allowance for credit losses | $ 65,231 | $ 74,837 | 68,820 | 112,882 | 114,044 | 120,311 |
Residenital Mortgage Loans [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 2.29% | 2.51% | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Amortized cost of loans | $ 2,862,917 | $ 2,887,251 | ||||
Allowance for credit losses | $ 36,203 | $ 34,284 | 36,784 | 37,470 | 32,087 | 37,944 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 1.26% | 1.19% | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Amortized cost of loans | $ 2,270,113 | $ 2,167,469 | ||||
Allowance for credit losses | $ 32,619 | $ 52,771 | 30,138 | 72,452 | 99,782 | 109,342 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 1.44% | 2.43% | ||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Amortized cost of loans | $ 115,310 | $ 138,999 | ||||
Allowance for credit losses | $ 2,020 | $ 4,048 | 1,842 | 4,757 | 4,915 | 5,380 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 1.75% | 2.91% | ||||
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Amortized cost of loans | $ 3,106,849 | $ 2,888,044 | ||||
Allowance for credit losses | $ 116,079 | $ 103,090 | $ 107,863 | $ 97,397 | $ 108,108 | $ 112,910 |
Consumer Portfolio Segment [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 3.74% | 3.57% | ||||
Loan Total [Member] | Allowance for loan and lease losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 2.25% | 2.43% |
ALLOWANCE FOR CREDIT LOSSES O_5
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Carrying Amount of Portfolios (Parenthetical) (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 11,206,874 | $ 11,060,658 |
Commercial Portfolio Segment [Member] | Small Business Administration [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 49,400 | $ 145,000 |
ALLOWANCE FOR CREDIT LOSSES O_6
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LOSSES - Activity in ACL for unfunded loan commitments and standby letters of credit (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning balance | $ 1,359 | $ 4,399 | $ 1,537 | $ 5,105 |
Provision for credit losses - expense (benefit) | 812 | (1,669) | 634 | (2,375) |
Ending balance | $ 2,171 | $ 2,730 | $ 2,171 | $ 2,730 |
ALLOWANCE FOR CREDIT LOSSES O_7
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Financing Receivable Allowance For Credit Losses | $ 252,152 | $ 324,958 | $ 252,152 | $ 324,958 | $ 245,447 | $ 269,030 | $ 358,936 | $ 385,887 |
Increase (decrease) in ACL | (16,900) | |||||||
Provision for credit losses - (benefit) expense | 12,665 | (26,302) | (4,324) | (40,745) | ||||
Net charge-offs | 6,000 | 12,600 | ||||||
Increase (decrease) in net charge-offs | (1,700) | 7,600 | ||||||
Recoveries | 6,632 | 10,190 | 12,753 | 13,916 | ||||
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | 812 | (1,669) | 634 | (2,375) | ||||
Off-Balance Sheet, Credit Loss, Liability | 2,171 | 2,730 | 2,171 | 2,730 | 1,359 | 1,537 | 4,399 | 5,105 |
Residential Portfolio Segment [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Financing Receivable Allowance For Credit Losses | 65,231 | 112,882 | 65,231 | 112,882 | 68,820 | 74,837 | 114,044 | 120,311 |
Increase (decrease) in ACL | 9,600 | |||||||
Provision for credit losses - (benefit) expense | (2,797) | 825 | (7,668) | (3,350) | ||||
Increase (decrease) in net charge-offs | (1,200) | (2,100) | ||||||
Recoveries | 1,287 | 940 | 2,669 | 1,673 | ||||
Commercial Portfolio Segment [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Increase (decrease) in ACL | (20,300) | |||||||
Increase (decrease) in net charge-offs | 4,100 | 2,000 | ||||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Financing Receivable Allowance For Credit Losses | 2,020 | 4,757 | 2,020 | 4,757 | 1,842 | 4,048 | 4,915 | 5,380 |
Provision for credit losses - (benefit) expense | 151 | (196) | (2,063) | (652) | ||||
Recoveries | 43 | 38 | 95 | 74 | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Financing Receivable Allowance For Credit Losses | 32,619 | 72,452 | 32,619 | 72,452 | 30,138 | 52,771 | 99,782 | 109,342 |
Provision for credit losses - (benefit) expense | 1,265 | (27,299) | (21,375) | (36,119) | ||||
Recoveries | 1,218 | 50 | 1,262 | 104 | ||||
Consumer Portfolio Segment [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Financing Receivable Allowance For Credit Losses | 116,079 | 97,397 | 116,079 | 97,397 | $ 107,863 | $ 103,090 | $ 108,108 | $ 112,910 |
Increase (decrease) in ACL | 13,000 | |||||||
Provision for credit losses - (benefit) expense | 15,148 | 794 | 26,129 | 5,114 | ||||
Net charge-offs | 13,100 | |||||||
Increase (decrease) in net charge-offs | (4,600) | (7,500) | ||||||
Recoveries | $ 3,495 | $ 3,293 | $ 7,103 | $ 5,932 |
OTHER REAL ESTATE OWNED- Other
OTHER REAL ESTATE OWNED- Other real estate owned (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Real Estate Properties [Line Items] | ||
OREO | $ 41,706 | $ 40,848 |
Other Real Estate Owned [Member] | ||
Real Estate Properties [Line Items] | ||
OREO | 41,706 | 40,848 |
Other Real Estate Owned [Member] | Residential [Member] | ||
Real Estate Properties [Line Items] | ||
OREO | 31,780 | 29,533 |
Other Real Estate Owned [Member] | Commercial [Member] | ||
Real Estate Properties [Line Items] | ||
OREO | 7,269 | 7,331 |
Other Real Estate Owned [Member] | Commercial [Member] | Construction [Member] | ||
Real Estate Properties [Line Items] | ||
OREO | $ 2,657 | $ 3,984 |
OTHER REAL ESTATE OWNED- Additi
OTHER REAL ESTATE OWNED- Additional information (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Real Estate Properties [Line Items] | ||
Foreclosures that meet the conditions of ASC Topic 310-40 | $ 246,848 | $ 234,143 |
Other Real Estate Owned [Member] | ||
Real Estate Properties [Line Items] | ||
Foreclosures that meet the conditions of ASC Topic 310-40 | $ 25,700 | $ 22,200 |
GOODWILL AND OTHER INTANGIBLE_2
GOODWILL AND OTHER INTANGIBLES - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Finite Lived Intangible Assets [Line Items] | |||||||
Goodwill | $ 38,611,000 | $ 38,611,000 | $ 38,611,000 | $ 38,611,000 | $ 38,611,000 | $ 38,632,000 | $ 28,098,000 |
Goodwill impairment | 0 | 0 | |||||
Amortization of intangible assets | $ 2,200,000 | $ 2,800,000 | $ 4,510,000 | $ 5,829,000 |
GOODWILL AND OTHER INTANGIBLE_3
GOODWILL AND OTHER INTANGIBLES - Goodwill by Segment (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Goodwill [Line Items] | ||
Goodwill | $ 38,632 | $ 28,098 |
Mergers and acquisitions | 6,303 | |
Adjustments | (21) | 4,231 |
Goodwill | 38,611 | 38,632 |
Mortgage Banking [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 959 | 0 |
Mergers and acquisitions | 574 | |
Adjustments | 53 | 385 |
Goodwill | 1,012 | 959 |
Consumer Retail Banking Segment [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 2,733 | 1,406 |
Mergers and acquisitions | 794 | |
Adjustments | 74 | 533 |
Goodwill | 2,807 | 2,733 |
Commercial And Corporate Segment [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 8,248 | 0 |
Mergers and acquisitions | 4,935 | |
Adjustments | (148) | 3,313 |
Goodwill | 8,100 | 8,248 |
United States Operations Segment [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 26,692 | 26,692 |
Mergers and acquisitions | 0 | |
Adjustments | 0 | 0 |
Goodwill | $ 26,692 | $ 26,692 |
GOODWILL AND OTHER INTANGIBLE_4
GOODWILL AND OTHER INTANGIBLES - Gross Amount and Accumulated Amortization of Other Intangible Assets (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Finite Lived Intangible Assets [Line Items] | ||
Net carrying amount | $ 25,424 | $ 29,934 |
Core Deposits [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross amount | 87,544 | 87,544 |
Accumulated amortization | (62,808) | (58,973) |
Net carrying amount | $ 24,736 | $ 28,571 |
Remaining amortization period (in years) | 7 years 6 months | 8 years |
Customer Relationships [Member] | Credit Card [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross amount | $ 3,800 | $ 3,800 |
Accumulated amortization | (3,201) | (2,602) |
Net carrying amount | $ 599 | $ 1,198 |
Remaining amortization period (in years) | 1 year 2 months 12 days | 1 year 8 months 12 days |
Customer Relationships [Member] | Insurance Customer Intangible [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross amount | $ 1,067 | $ 1,067 |
Accumulated amortization | (978) | (902) |
Net carrying amount | $ 89 | $ 165 |
Remaining amortization period (in years) | 7 months 6 days | 1 year 1 month 6 days |
GOODWILL AND OTHER INTANGIBLE_5
GOODWILL AND OTHER INTANGIBLES - Yearly Amortization Expense (Detail) $ in Thousands | Jun. 30, 2022 USD ($) |
Goodwill and other Intangible Assets [Abstract] | |
2022 | $ 4,305 |
2023 | 7,736 |
2024 | 6,416 |
2025 | 3,509 |
2026 | 872 |
2027 and after | $ 2,586 |
NON-CONSOLIDATED VARIABLE INT_3
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended | ||||||
Feb. 16, 2011 | Apr. 30, 2004 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Servicing Asset at Amortized Cost | $ 30,277 | $ 30,753 | $ 30,986 | $ 32,335 | $ 32,710 | $ 33,071 | ||
Servicing Asset At Fair Value Amount | $ 44,337 | $ 42,132 | ||||||
Weighted-average yield | 1.17% | 1.03% | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Qualitative Information | These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10% variation in assumptions generally cannot be extrapolated because the relationship between the change in assumption and the change in fair value may not be linear. Also, in this table, the effect of a variation in a particular assumption on the fair value of the MSR is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or counteract the sensitivities. | |||||||
Debt Securities, Available-for-sale, Allowance for Credit Loss | $ 676 | $ 1,105 | ||||||
Junior subordinated debentures | $ 183,762 | $ 183,762 | ||||||
Prlp [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Payment To Be Made On Pro Rata Basis | 65% | |||||||
Prlp [Member] | Minimum [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Percentage Of Priority Interest To Be Received On Invested Capital | 12% | |||||||
CPG/GS [Member] | Commercial Portfolio Segment [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Loans held for sale sold | $ 269,300 | |||||||
Loans and Leases Receivable, Gross | 136,100 | |||||||
CPG/GS [Member] | Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Cash realized on sale of loan | $ 88,500 | |||||||
Acquired equity interest | 35% | |||||||
CPG/GS [Member] | Prlp [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Payment To Be Made On Pro Rata Basis | 35% | |||||||
Variable Rate Demand Obligation [Member] | Junior Subordinated Debt [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Debt Instrument, Maturity Date, Description | The Junior Subordinated Deferrable Debentures mature on June 17, 2034 and September 20, 2034, respectively; however, under certain circumstances, the maturity of Junior Subordinated Deferrable Debentures may be shortened (such shortening would result in a mandatory redemption of the variable-rate TRuPs). As of each of June 30, 2022 and December 31, 2021, these Junior Subordinated Deferrable Debentures amounted to $183.8 million. | |||||||
Variable Rate Demand Obligation [Member] | Statutory Trust One [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Proceeds from Issuance of Trust Preferred Securities | $ 100,000 | |||||||
Proceeds of the issuance, together with proceeds of the purchase | 3,100 | |||||||
Principal amount of corporation's junior subordinated deferrable debentures | 103,100 | |||||||
Variable Rate Demand Obligation [Member] | Statutory Trust Two [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Proceeds from Issuance of Trust Preferred Securities | 125,000 | |||||||
Proceeds of the issuance, together with proceeds of the purchase | 3,900 | |||||||
Principal amount of corporation's junior subordinated deferrable debentures | $ 128,900 | |||||||
MBS [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Weighted-average yield | 1.43% | 1.26% | ||||||
Debt Securities, Available-for-sale, Allowance for Credit Loss | $ 290 | $ 797 | ||||||
MBS [Member] | Private label [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Servicing Asset at Amortized Cost | 9,200 | |||||||
Servicing Asset At Fair Value Amount | $ 6,400 | |||||||
Weighted-average yield | 4.42% | |||||||
Debt Securities, Available-for-sale, Allowance for Credit Loss | $ 300 | $ 800 | ||||||
MBS [Member] | Private label [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Debt Instrument Description Of Variable Rate Basis | 3-month LIBOR | |||||||
GNMA [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Principal amount of corporation serviced loans securitized through GNMA | $ 2,100,000 |
NON-CONSOLIDATED VARIABLE INT_4
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Changes in Servicing Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Transfers and Servicing [Abstract] | ||||
Balance at beginning of period | $ 30,753 | $ 32,710 | $ 30,986 | $ 33,071 |
Capitalization of servicing assets | 828 | 1,550 | 1,958 | 2,900 |
Amortization | (1,273) | (1,920) | (2,603) | (3,557) |
Temporary impairment recoveries, net | 9 | 30 | 64 | 37 |
Other | (40) | (35) | (128) | (116) |
Balance at end of period | $ 30,277 | $ 32,335 | $ 30,277 | $ 32,335 |
NON-CONSOLIDATED VARIABLE INT_5
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Changes in Impairment Allowance (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Transfers and Servicing [Abstract] | ||||
Balance at beginning of period | $ 23 | $ 195 | $ 78 | $ 202 |
Recoveries | (9) | (30) | (64) | (37) |
Balance at end of period | $ 14 | $ 165 | $ 14 | $ 165 |
NON-CONSOLIDATED VARIABLE INT_6
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Components of Net Servicing Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Transfers and Servicing [Abstract] | ||||
Servicing fees | $ 2,821 | $ 3,018 | $ 5,640 | $ 5,933 |
Late charges and prepayment penalties | 219 | 217 | 413 | 456 |
Other | (40) | (35) | (128) | (116) |
Servicing income, gross | 3,000 | 3,200 | 5,925 | 6,273 |
Amortization and impairment of servicing assets | (1,264) | (1,890) | (2,539) | (3,520) |
Servicing income, net | $ 1,736 | $ 1,310 | $ 3,386 | $ 2,753 |
NON-CONSOLIDATED VARIABLE INT_7
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Key Economic Assumptions Used in Determining Fair Value at Time of Sale of Loans (Detail) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Maximum [Member] | Conventional Loan [Member] | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 18.40% | 17.40% |
Discount rate | 10% | 10% |
Maximum [Member] | Conventional Non Conforming Mortgage Loans [Member] | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 21.90% | 0% |
Discount rate | 14.50% | 0% |
Maximum [Member] | Government-guaranteed mortgage loans [Member] | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 18.30% | 14% |
Discount rate | 12% | 12% |
Minimum [Member] | Conventional Loan [Member] | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 3.40% | 2.80% |
Discount rate | 9.50% | 10% |
Minimum [Member] | Conventional Non Conforming Mortgage Loans [Member] | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 4.50% | 0% |
Discount rate | 11.50% | 0% |
Minimum [Member] | Government-guaranteed mortgage loans [Member] | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 4.80% | 3.70% |
Discount rate | 11.50% | 12% |
Weighted Average [Member] | Conventional Loan [Member] | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 6.60% | 6.20% |
Discount rate | 9.90% | 10% |
Weighted Average [Member] | Conventional Non Conforming Mortgage Loans [Member] | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 6.30% | 0% |
Discount rate | 12.40% | 0% |
Weighted Average [Member] | Government-guaranteed mortgage loans [Member] | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 6.70% | 6.10% |
Discount rate | 11.90% | 12% |
NON-CONSOLIDATED VARIABLE INT_8
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Weighted-Averages of Key Economic Assumptions in Valuation Model (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Transfers and Servicing [Abstract] | ||||||
Carrying amount of servicing assets | $ 30,277 | $ 30,986 | $ 30,753 | $ 32,335 | $ 32,710 | $ 33,071 |
Fair value | $ 44,337 | $ 42,132 | ||||
Weighted-average expected life | 7 years 11 months 8 days | 7 years 11 months 15 days | ||||
Constant prepayment rate | 6.48% | 6.55% | ||||
Decrease in fair value due to 10% adverse change | $ 1,044 | $ 1,027 | ||||
Decrease in fair value due to 20% adverse change | $ 2,046 | $ 2,011 | ||||
Discount rate | 11.17% | 11.17% | ||||
Decrease in fair value due to 10% adverse change | $ 1,962 | $ 1,852 | ||||
Decrease in fair value due to 20% adverse change | $ 3,770 | $ 3,561 |
DEPOSITS - Narratives (Detail)
DEPOSITS - Narratives (Detail) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Deposits [Line Items] | ||
Unamortized broker placement fees | $ 0.1 | $ 0.2 |
Time deposits in denomnations of $250,000 or more | $ 852 | $ 990.2 |
DEPOSITS - Summary of Deposit B
DEPOSITS - Summary of Deposit Balances (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Deposits, by Type [Abstract] | ||
Non-interest-bearing deposit accounts | $ 6,286,922 | $ 7,027,513 |
Interest-bearing savings accounts | 4,515,416 | 4,729,387 |
Interest-bearing checking accounts | 4,137,295 | 3,492,645 |
Certificates of deposit | 2,126,376 | 2,434,932 |
Brokered CDs | 74,119 | 100,417 |
Total deposits | $ 17,140,128 | $ 17,784,894 |
DEPOSITS- Certificates of Depos
DEPOSITS- Certificates of Deposits Mature (Detail) $ in Thousands | Jun. 30, 2022 USD ($) |
Deposits [Abstract] | |
Three months or less | $ 572,584 |
Over three months to six months | 381,963 |
Over six months to one year | 584,351 |
Over one year to two years | 357,337 |
Over two years to three years | 160,362 |
Over three years to four years | 59,798 |
Over four years to five years | 77,232 |
Over five years | 6,868 |
Total | $ 2,200,495 |
DEPOSITS - Interest Expenses on
DEPOSITS - Interest Expenses on deposits (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest Expense, Deposits [Abstract] | ||||
Interest expense on deposits | $ 7,757 | $ 11,117 | $ 15,574 | $ 23,842 |
Accretion of premium from acquisitions | 92 | 390 | 292 | 846 |
Amortization of broker placement fees | 29 | 55 | 64 | 128 |
Total | $ 7,694 | $ 10,782 | $ 15,346 | $ 23,124 |
LOANS PAYABLE - Additional Info
LOANS PAYABLE - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Short Term Debt [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 11,206,874 | $ 11,060,658 |
SECURITIES SOLD UNDER AGREEME_3
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase agreements | $ 200,000 | $ 300,000 |
Long-term Debt [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase agreements | $ 200,000 | $ 300,000 |
SECURITIES SOLD UNDER AGREEME_4
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Securities Sold Under Agreements to Repurchase (Parenthetical) (Detail) | Jun. 30, 2022 | Dec. 31, 2021 |
Long-term Debt [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Weighted-average interest rates on repurchase agreements | 3.90% | 3.35% |
SECURITIES SOLD UNDER AGREEME_5
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Schedule of Repurchase Agreement Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities sold under agreements to repurchase | $ 200,000 | $ 300,000 |
Over one year to three years | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities sold under agreements to repurchase | $ 200,000 |
SECURITIES SOLD UNDER AGREEME_6
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Repurchase Agreements Grouped by Counterparty (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Repurchase Agreement Counterparty [Line Items] | ||
Repurchase agreements | $ 200,000 | $ 300,000 |
Credit Suisse First Boston [Member] | ||
Repurchase Agreement Counterparty [Line Items] | ||
Repurchase agreements | $ 200,000 | |
Weighted-Average Maturity | 31 months |
ADVANCES FROM THE FEDERAL HOM_3
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Summary of Advances from FHLB (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Long-term Debt [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Fixed-rate advances from FHLB | $ 200,000 | $ 200,000 |
ADVANCES FROM THE FEDERAL HOM_4
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Summary of Advances from FHLB (Parenthetical) (Detail) | Jun. 30, 2022 | Dec. 31, 2021 |
Long-term Debt [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Weighted-interest rate | 2.16% | 2.16% |
ADVANCES FROM THE FEDERAL HOM_5
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Advances from FHLB Mature (Detail) $ in Thousands | Jun. 30, 2022 USD ($) |
Federal Home Loan Bank, Advances, Fixed Rate [Abstract] | |
Over one to three months | $ 200,000 |
OTHER BORROWINGS - Components o
OTHER BORROWINGS - Components of Other Borrowings (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Subordinated Borrowing [Line Items] | ||
Junior subordinated debentures | $ 183,762 | $ 183,762 |
due June 17, 2034 [Member] | Statutory Trust One [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debentures | 65,205 | 65,205 |
due September 20, 2034 [Member] | Statutory Trust Two [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debentures | $ 118,557 | $ 118,557 |
OTHER BORROWINGS - Components_2
OTHER BORROWINGS - Components of Other Borrowings (Parenthetical) (Detail) - Junior Subordinated Debt [Member] - London Interbank Offered Rate (LIBOR) [Member] | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
due June 17, 2034 [Member] | Statutory Trust One [Member] | ||
Subordinated Borrowing [Line Items] | ||
Debt Instrument Basis Spread On Variable Rate | 2.75% | |
Debt Instrument Description Of Variable Rate Basis | 3-month LIBOR | |
Long Term Debt Percentage Bearing Variable Interest Rate | 4.78% | 2.97% |
Subordinated Borrowing Due Date | Jun. 17, 2034 | |
due September 20, 2034 [Member] | Statutory Trust Two [Member] | ||
Subordinated Borrowing [Line Items] | ||
Debt Instrument Basis Spread On Variable Rate | 2.50% | |
Debt Instrument Description Of Variable Rate Basis | 3-month LIBOR | |
Long Term Debt Percentage Bearing Variable Interest Rate | 4.60% | 2.71% |
Subordinated Borrowing Due Date | Sep. 20, 2034 |
EARNINGS PER COMMON SHARE - Cal
EARNINGS PER COMMON SHARE - Calculations of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income: | ||||
Net income | $ 74,695 | $ 70,558 | $ 157,295 | $ 131,708 |
Dividends on preferred stock | 0 | (669) | 0 | (1,338) |
Net income attributable to common stockholders | $ 74,695 | $ 69,889 | $ 157,295 | $ 130,370 |
Weighted-Average Shares: | ||||
Average common shares outstanding | 194,405,000 | 213,574,000 | 196,257,000 | 215,294,000 |
Average potential dillutive common shares | 961,000 | 1,035,000 | 1,184,000 | 1,139,000 |
Average common shares outstanding - assuming dillution | 195,366,000 | 214,609,000 | 197,441,000 | 216,433,000 |
Earnings Per Share, Basic and Diluted [Abstract] | ||||
Basic | $ 0.38 | $ 0.33 | $ 0.80 | $ 0.61 |
Diluted | $ 0.38 | $ 0.33 | $ 0.80 | $ 0.60 |
STOCK-BASED COMPENSATION - Omni
STOCK-BASED COMPENSATION - Omnibus Plan - Additional Information (Detail) - Omnibus Plan [Member] | Jun. 30, 2022 shares |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Authorized granting up shares | 14,169,807 |
Restricted stock available for issuance | 3,851,176 |
STOCK-BASED COMPENSATION - Rest
STOCK-BASED COMPENSATION - Restricted Stock - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Retirement Eligible Shares | 6,084 | 19,271 | ||
Restricted Stock [Member] | Director [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Restricted stock vesting period | 1 year | |||
Restricted Stock [Member] | Restricted stock vesting after two-year anniversary of the grant date [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Restricted stock vesting period | 2 years | |||
Restricted Stock [Member] | Restricted stock vesting after three-year anniversary of the grant date [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Restricted stock vesting period | 3 years | |||
Omnibus Plan [Member] | Restricted Stock [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Granted shares restricted stocks | 301,440 | 293,621 | ||
Stock-based compensation expense | $ 0.9 | $ 0.8 | $ 1.8 | $ 1.8 |
Unrecognized compensation cost related to unvested shares | $ 5.2 | $ 5.2 | ||
Period for cost recognition not yet recognized | 1 year 9 months 18 days | |||
Omnibus Plan [Member] | Restricted Stock [Member] | Director [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Granted shares restricted stocks | 3,048 | 3,552 | ||
Omnibus Plan [Member] | Restricted Stock [Member] | Management [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Granted shares restricted stocks | 298,392 | 290,069 | ||
Omnibus Plan [Member] | Restricted Stock [Member] | Restricted stock vesting after two-year anniversary of the grant date [Member] | Management [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Restricted stock vesting percentage | 50% | |||
Omnibus Plan [Member] | Restricted Stock [Member] | Restricted stock vesting after three-year anniversary of the grant date [Member] | Management [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Restricted stock vesting percentage | 50% |
STOCK-BASED COMPENSATION - Re_2
STOCK-BASED COMPENSATION - Restricted Stock Activity Under Omnibus Plan (Detail) - Omnibus Plan [Member] - Restricted Stock [Member] - $ / shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Unvested shares outstanding, beginning of period | 1,148,775 | 1,320,723 |
Granted | 301,440 | 293,621 |
Forefeited | (10,364) | (10,460) |
Vested | (487,198) | (363,257) |
Unvested shares of outstanding, end of period | 952,653 | 1,240,627 |
Weighted-Average Grant Date Fair Value, beginning of period | $ 6.61 | $ 5.74 |
Weighted-Average Grant Date Fair Value, Granted | 13.15 | 11.26 |
Weighted-Averages Grant Date Dair Value, Forfeited | 8.82 | 6.10 |
Weighted-Average Grant Date Fair Value, Vested | 5.72 | 7.98 |
Weighted-Average Grant Date Fair Value, end of period | $ 9.11 | $ 6.39 |
STOCK-BASED COMPENSATION - Re_3
STOCK-BASED COMPENSATION - Restricted Stock Activity Under Omnibus Plan (Parenthetical) (Detail) - shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Retirement Eligible Shares | 6,084 | 19,271 |
Omnibus Plan [Member] | Restricted Stock [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Granted shares restricted stocks | 301,440 | 293,621 |
Omnibus Plan [Member] | Restricted Stock [Member] | Director [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Granted shares restricted stocks | 3,048 | 3,552 |
Omnibus Plan [Member] | Restricted Stock [Member] | Management [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Granted shares restricted stocks | 298,392 | 290,069 |
STOCK-BASED COMPENSATION - Perf
STOCK-BASED COMPENSATION - Performance Units - Additional Information (Detail) - Omnibus Plan [Member] - Performance Shares [member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Granted performance units | 166,669 | 160,485 | ||
Stock-based compensation expense | $ 0.5 | $ 0.5 | $ 0.8 | $ 1 |
Unrecognized compensation cost related to unvested performance units | $ 3.5 | $ 3.5 | ||
Number of vested shares | 189,645 | 304,408 | ||
Executives [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Performance units program description | The performance units will vest on the third anniversary of the effective date of the awards, subject to the achievement of a pre-established tangible book value per share target. All the performance units will vest if performance is at the pre-established performance target level or above. However, the participants may vest with respect to 50% of the awards to the extent that performance is below the target but not less than 80% of the pre-established performance target level (the “80% minimum threshold”), which is measured based upon the growth in the tangible book value during the performance cycle. If performance is between the 80% minimum threshold and the pre-established performance target level, the participants will vest on a proportional amount. No performance units will vest if performance is below the 80% minimum threshold. The performance units granted in the first half of 2022 are for the performance period beginning January 1, 2022 and ending on December 31, 2024. |
STOCK-BASED COMPENSATION - Pe_2
STOCK-BASED COMPENSATION - Performance Units - Performance Unit Activity (Detail) - Omnibus Plan [Member] - Performance Shares [member] - shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Unvested shares outstanding, beginning of period | 814,899 | 1,006,768 |
Granted performance units | 166,669 | 160,485 |
Vested | (189,645) | (304,408) |
Unvested shares of outstanding, end of period | 791,923 | 862,845 |
STOCK-BASED COMPENSATION - Trea
STOCK-BASED COMPENSATION - Treasury Stock - Additional Information (Detail) - shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Shares Withheld for Tax Withholding Obligation | 201,930 | 210,572 |
STOCKHOLDERS' EQUITY - Addition
STOCKHOLDERS' EQUITY - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Jul. 21, 2022 | Nov. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Apr. 27, 2022 | Dec. 31, 2021 | |
Class Of Stock [Line Items] | ||||||||
Dividends declared per common share | $ 0.12 | $ 0.07 | $ 0.22 | $ 0.14 | ||||
Preferred Stock Shares Authorized | 50,000,000 | 50,000,000 | ||||||
Preferred stock, par value | $ 1 | $ 1 | ||||||
Liquidation value per share, Preferred stock | $ 25 | |||||||
Common stock repurchased price per share | $ 14.15 | |||||||
Treasury Stock Shares | 32,036,780 | 32,036,780 | 21,836,611 | |||||
Legal surplus reserve rate | 10% | |||||||
Puerto Rico Banking Law Description | The Puerto Rico Banking Law provides that, when the expenditures of a Puerto Rico commercial bank are greater than receipts, the excess of the expenditures over receipts must be charged against the undistributed profits of the bank, and the balance, if any, must be charged against the legal surplus reserve, as a reduction thereof. If the legal surplus reserve is not sufficient to cover such balance in whole or in part, the outstanding amount must be charged against the capital account and the Bank cannot pay dividends until it can replenish the legal surplus reserve to an amount of at least 20% of the original capital contributed. | |||||||
Legal Surplus Amount Additions | $ 0 | |||||||
Legal Surplus Amount | $ 137,591,000 | $ 137,591,000 | $ 137,591,000 | |||||
Stock Repurchase Program Authorized Amount 1 | $ 350,000,000 | |||||||
Stock Repurchased During Period Shares | 7,069,263 | 10,680,890 | ||||||
Repurchase of common stock value | $ 100,000,000 | |||||||
Preferred Stock Shares Outstanding | 0 | 0 | ||||||
Stock Issued During Period Shares Treasury Stock Reissued | 491,085 | |||||||
Shares Paid For Tax Withholding For Share Based Compensation | 201,930 | 210,572 | ||||||
Dividends paid on preferred stock | $ 0 | $ 669,000 | $ 0 | $ 1,338,000 | ||||
Dividends paid on common stock | 23,400,000 | $ 15,000,000 | $ 43,300,000 | $ 30,300,000 | ||||
Preferred stock, difference between liquidation value and net carrying value | $ 1,200,000 | |||||||
New Stock Repurchase Program [Member] | ||||||||
Class Of Stock [Line Items] | ||||||||
Common stock repurchased price per share | $ 14.15 | |||||||
Stock Repurchase Program Authorized Amount 1 | 350,000,000 | $ 350,000,000 | ||||||
Stock Repurchased During Period Shares | 7,069,263 | |||||||
Repurchase of common stock value | $ 100,000,000 | |||||||
Stock Repurchase Program Remaining Authorized Repurchase Amount 1 | 250,000,000 | $ 250,000,000 | ||||||
Previous Stock Repurchase Program [Member] | ||||||||
Class Of Stock [Line Items] | ||||||||
Common stock repurchased price per share | $ 14.66 | |||||||
Stock Repurchase Program Authorized Amount 1 | $ 300,000,000 | $ 300,000,000 | ||||||
Stock Repurchased During Period Shares | 3,409,697 | |||||||
Repurchase of common stock value | $ 50,000,000 | |||||||
Preferred Stock, Liquidation Preference, Value | $ 36,100,000 | |||||||
Number Of Redeemed Preferred Stock | 1,444,146 | |||||||
Subsequent Event [Member] | ||||||||
Class Of Stock [Line Items] | ||||||||
Dividends declared per common share | $ 0.12 | |||||||
Dividend Payable Date To Be Paid Day Month And Year | Sep. 09, 2022 | |||||||
Dividends Payable Date Of Record Day Month And Year | Aug. 25, 2022 | |||||||
Dividends Payable Date Declared Day Month And Year | Jul. 21, 2022 |
STOCKHOLDERS' EQUITY - Common S
STOCKHOLDERS' EQUITY - Common Stock (Detail) - shares | 3 Months Ended | 6 Months Ended |
Jun. 30, 2022 | Jun. 30, 2022 | |
Class Of Stock [Line Items] | ||
Common stock outstanding, beginning balances | 201,826,505 | |
Common stock repurchased | (7,069,263) | (10,680,890) |
Common stock reissued from treasury stock | 491,085 | |
Restricted stock forfeited | (10,364) | |
Common stock outstanding, ending balances | 191,626,336 | 191,626,336 |
STOCKHOLDERS' EQUITY - Common_2
STOCKHOLDERS' EQUITY - Common Stock (Parenthetical) (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Apr. 27, 2022 | |
Class Of Stock [Line Items] | ||||
Common stock repurchased price per share | $ 14.15 | |||
Repurchase of common stock value | $ 100 | |||
Shares Withheld for Tax Withholding Obligation | 201,930 | 210,572 | ||
Common stock repurchased | 7,069,263 | 10,680,890 | ||
Stock repurchase program authorized amount | $ 350 | |||
Previous Stock Repurchase Program [Member] | ||||
Class Of Stock [Line Items] | ||||
Common stock repurchased price per share | $ 14.66 | |||
Repurchase of common stock value | $ 50 | |||
Common stock repurchased | 3,409,697 | |||
Stock repurchase program authorized amount | $ 300 | $ 300 | ||
New Stock Repurchase Program [Member] | ||||
Class Of Stock [Line Items] | ||||
Common stock repurchased price per share | $ 14.15 | |||
Repurchase of common stock value | $ 100 | |||
Common stock repurchased | 7,069,263 | |||
Stock repurchase program authorized amount | $ 350 | $ 350 |
OTHER COMPREHENSIVE (LOSS) IN_3
OTHER COMPREHENSIVE (LOSS) INCOME - Change in Accumulated Other Comprehensive Loss by Component (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | $ (83,999) | |||
Ending balance | $ (591,756) | (591,756) | ||
Pension And Postretirement Benefit Plans [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | 3,391 | $ (270) | 3,391 | $ (270) |
Other comprehensive (loss) income | 0 | 0 | 0 | 0 |
Ending balance | 3,391 | (270) | 3,391 | (270) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Debt Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | (419,224) | (43,204) | (87,390) | 55,725 |
Other comprehensive (loss) income | (175,923) | 28,496 | (507,757) | (70,433) |
Ending balance | $ (595,147) | $ (14,708) | $ (595,147) | $ (14,708) |
EMPLOYEE BENEFIT PLANS - Summar
EMPLOYEE BENEFIT PLANS - Summary of Financial Data Relative to the Pension Plans and the Postretirement Benefit Plan (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net periodic benefit income: | ||||
Interest cost | $ 656 | $ 620 | $ 1,311 | $ 1,240 |
Expected return on plan assets | (1,040) | (1,131) | (2,079) | (2,262) |
Net periodic benefit (income) loss | $ (384) | $ (511) | $ (768) | $ (1,022) |
INCOME TAXES - Additional Infor
INCOME TAXES - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Income Tax Contingency [Line Items] | |||||
Maximum corporate tax rate | 37.50% | ||||
Valuation allowance | $ 166,400 | $ 166,400 | |||
Income tax expense | 34,103 | $ 40,092 | $ 77,128 | $ 68,114 | |
Minimum percentage of bank net taxable income for paying income tax at normal rate | 20% | ||||
Estimated annual effective tax rate, excluding entities from which a tax benefit cannot be recognized and discrete items | 31.70% | 33.20% | |||
Estimated annual effective tax rate, including all entities | 31.90% | 33.60% | |||
Effective Income Tax Rate Excluding Discrete Items | 32.30% | 33.80% | |||
Deferred tax asset that will be realized | 167,000 | $ 167,000 | |||
Accrued interest and penalties related to uncertain tax positions | 300 | 300 | |||
Santander [Member] | |||||
Income Tax Contingency [Line Items] | |||||
UTBs | 1,000 | 1,000 | |||
U S [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Current income tax expense | 2,500 | $ 1,400 | 4,100 | $ 2,500 | |
FirstBank [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Valuation allowance | 127,700 | 127,700 | $ 69,700 | ||
Deferred tax asset that will be realized | $ 166,900 | $ 166,900 | $ 208,400 | ||
Domestic Country [Member] | Subsidiaries [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Dividend received deduction | 100% | ||||
Domestic Country [Member] | Other taxable domestic corporations [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Dividend received deduction | 85% |
FAIR VALUE - Assets and Liabili
FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | $ 6,081,120 | $ 6,453,761 |
Mortgage Backed Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 3,517,827 | 4,044,443 |
Fair Value, Measurements, Recurring [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Equity Securities, FV-NI | 5,082 | 5,378 |
Derivative Assets | 1,025 | 1,505 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 636 | 1,178 |
Fair Value, Measurements, Recurring [Member] | Other Available For Sale Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 1,000 | 1,000 |
Fair Value, Measurements, Recurring [Member] | U S Treasury Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 141,347 | 148,486 |
Fair Value, Measurements, Recurring [Member] | Mortgage Backed Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 3,517,827 | 4,044,443 |
Fair Value, Measurements, Recurring [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 258,663 | 285,028 |
Fair Value, Measurements, Recurring [Member] | Government Agencies Debt Securities [Member] | Call Option [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 2,159,474 | 1,971,954 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 2,809 | 2,850 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Equity Securities, FV-NI | 5,082 | 5,378 |
Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Other Available For Sale Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | U S Treasury Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 141,347 | 148,486 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Mortgage Backed Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Government Agencies Debt Securities [Member] | Call Option [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Equity Securities, FV-NI | 0 | 0 |
Derivative Assets | 1,025 | 1,505 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 636 | 1,178 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Other Available For Sale Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | U S Treasury Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Mortgage Backed Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 3,511,456 | 4,037,209 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 258,663 | 285,028 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Government Agencies Debt Securities [Member] | Call Option [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 2,159,474 | 1,971,954 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Equity Securities, FV-NI | 0 | 0 |
Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Other Available For Sale Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 1,000 | 1,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | U S Treasury Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Mortgage Backed Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 6,371 | 7,234 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Government Agencies Debt Securities [Member] | Noncallable [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Government Agencies Debt Securities [Member] | Call Option [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Assets Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | $ 2,809 | $ 2,850 |
FAIR VALUE - Fair Value of Asse
FAIR VALUE - Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) - Fair Value Inputs Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | $ 10,647 | $ 11,776 | $ 11,084 | $ 11,977 |
Total gains or (losses) (realized/unrealized): | ||||
Included in earnings | 35 | 0 | 423 | 127 |
Included in other comprehensive income | (106) | 384 | (393) | 705 |
Principal Repayments And Amortization | 396 | 679 | 934 | 1,328 |
Ending balance | $ 10,180 | $ 11,481 | $ 10,180 | $ 11,481 |
FAIR VALUE - Assets and Liabi_2
FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) $ in Thousands | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale | $ 6,081,120 | $ 6,453,761 |
Fair Value, Measurements, Recurring [Member] | Puerto Rico government obligations [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale | 2,809 | 2,850 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Private label [Member] | Valuation Technique, Discounted Cash Flow [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale | 6,371 | 7,234 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Puerto Rico government obligations [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale | 2,809 | 2,850 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Puerto Rico government obligations [Member] | Valuation Technique, Discounted Cash Flow [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale | $ 2,809 | $ 2,850 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Measurement Input, Discount Rate [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.152 | 0.129 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.032 | 0.076 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Measurement Input, Loss Severity [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.004 | 0.002 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Discount Rate [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.091 | 0.066 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Loss Severity [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.192 | 0.086 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Measurement Input, Discount Rate [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.152 | 0.129 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.209 | 0.249 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Measurement Input, Loss Severity [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.158 | 0.157 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Discount Rate [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.091 | 0.084 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico government obligations [Member] | Measurement Input, Loss Severity [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.192 | 0.086 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Measurement Input, Discount Rate [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.152 | 0.129 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.127 | 0.152 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Measurement Input, Loss Severity [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.056 | 0.076 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico government obligations [Member] | Measurement Input, Discount Rate [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.091 | 0.079 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico government obligations [Member] | Measurement Input, Loss Severity [Member] | ||
Available For Sale Securities [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.192 | 0.086 |
FAIR VALUE - Impairment of Valu
FAIR VALUE - Impairment of Valuation Adjustments were Recorded for Assets Recognized at Fair Value (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Mortgage servicing rights | $ 44,337 | $ 44,337 | $ 42,132 | ||
OREO [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Carrying value, Related to gains (losses) recorded | 2,140 | $ 2,930 | 2,741 | $ 5,033 | |
Included in earnings | 35 | (225) | (38) | (374) | |
Loans Held For Sale [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Carrying value, Related to gains (losses) recorded | 0 | 4,004 | |||
Included in earnings | 0 | (116) | |||
Loans Receivable [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Carrying value, Related to gains (losses) recorded | 5,422 | 13,013 | 29,967 | 41,610 | |
Included in earnings | (817) | (1,689) | (3,848) | (4,350) | |
Property Plant And Equipment [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Carrying value, Related to gains (losses) recorded | 0 | 1,242 | |||
Included in earnings | 0 | (218) | |||
Fair Value Inputs Level 3 [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Included in earnings | $ (35) | $ 0 | $ (423) | $ (127) |
FAIR VALUE - Fair Value (Detail
FAIR VALUE - Fair Value (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Assets: | ||||||
Investment securities available for sale | $ 6,081,120 | $ 6,453,761 | ||||
Held To Maturity Securities Amortized | 458,227 | |||||
Less: allowance for credit losses on held to maturity securities | (8,885) | (8,571) | ||||
Investment securities held to maturity, net of ACL | 449,342 | 169,562 | ||||
Less: ACL for loans and finance leases | (252,152) | $ (245,447) | (269,030) | $ (324,958) | $ (358,936) | $ (385,887) |
Loans held for investment, net of ACL | 10,954,722 | 10,791,628 | ||||
Mortgage servicing rights | 30,277 | $ 30,753 | 30,986 | $ 32,335 | $ 32,710 | $ 33,071 |
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||||
Other borrowings | 183,762 | 183,762 | ||||
Carrying Reported Amount Fair Value Disclosure [Member] | ||||||
Assets: | ||||||
Cash and due from banks and money market investments | 1,263,523 | 2,543,058 | ||||
Investment securities available for sale | 6,081,120 | 6,453,761 | ||||
Held To Maturity Securities Amortized | 458,227 | 178,133 | ||||
Less: allowance for credit losses on held to maturity securities | (8,885) | (8,571) | ||||
Investment securities held to maturity, net of ACL | 449,342 | 169,562 | ||||
Equity Securities | 27,761 | 26,791 | ||||
Other investment securities | 5,082 | 5,378 | ||||
Loans held for sale | 22,601 | 35,155 | ||||
Total gross loans held for investment portfolio | 11,206,874 | 11,060,658 | ||||
Less: ACL for loans and finance leases | (252,152) | (269,030) | ||||
Loans held for investment, net of ACL | 10,954,722 | 10,791,628 | ||||
Mortgage servicing rights | 30,277 | 30,986 | ||||
Derivative Assets | 1,025 | 1,505 | ||||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||||
Deposits | 17,140,128 | 17,784,894 | ||||
Securities sold under agreements to repurchase | 200,000 | 300,000 | ||||
Advances from FHLB | 200,000 | 200,000 | ||||
Other borrowings | 183,762 | 183,762 | ||||
Derivative Liabilities | 636 | 1,178 | ||||
Federal Home Loan Bank Stock | 21,300 | 21,500 | ||||
Estimate Of Fair Value Fair Value Disclosure [Member] | ||||||
Assets: | ||||||
Cash and due from banks and money market investments | 1,263,523 | 2,543,058 | ||||
Investment securities available for sale | 6,081,120 | 6,453,761 | ||||
Investment securities held to maturity, net of ACL | 453,242 | 167,147 | ||||
Equity Securities | 27,761 | 26,791 | ||||
Other investment securities | 5,082 | 5,378 | ||||
Loans held for sale | 22,790 | 36,147 | ||||
Loans held for investment, net of ACL | 10,954,724 | 10,900,400 | ||||
Mortgage servicing rights | 44,337 | 42,132 | ||||
Derivative Assets | 1,025 | 1,505 | ||||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||||
Deposits | 17,146,043 | 17,800,706 | ||||
Securities sold under agreements to repurchase | 205,456 | 322,105 | ||||
Advances from FHLB | 200,051 | 202,044 | ||||
Other borrowings | 175,122 | 177,689 | ||||
Derivative Liabilities | 636 | 1,178 | ||||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 1 [Member] | ||||||
Assets: | ||||||
Cash and due from banks and money market investments | 1,263,523 | 2,543,058 | ||||
Investment securities available for sale | 141,347 | 148,486 | ||||
Investment securities held to maturity, net of ACL | 0 | 0 | ||||
Equity Securities | 0 | 0 | ||||
Other investment securities | 5,082 | 5,378 | ||||
Loans held for sale | 0 | 0 | ||||
Loans held for investment, net of ACL | 0 | 0 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Derivative Assets | 0 | 0 | ||||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||||
Deposits | 0 | 0 | ||||
Securities sold under agreements to repurchase | 0 | 0 | ||||
Advances from FHLB | 0 | 0 | ||||
Other borrowings | 0 | 0 | ||||
Derivative Liabilities | 0 | 0 | ||||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 2 [Member] | ||||||
Assets: | ||||||
Cash and due from banks and money market investments | 0 | 0 | ||||
Investment securities available for sale | 5,929,593 | 6,294,191 | ||||
Investment securities held to maturity, net of ACL | 278,223 | 0 | ||||
Equity Securities | 27,761 | 26,791 | ||||
Other investment securities | 0 | 0 | ||||
Loans held for sale | 22,790 | 36,147 | ||||
Loans held for investment, net of ACL | 0 | 0 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Derivative Assets | 1,025 | 1,505 | ||||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||||
Deposits | 17,146,043 | 17,800,706 | ||||
Securities sold under agreements to repurchase | 205,456 | 322,105 | ||||
Advances from FHLB | 200,051 | 202,044 | ||||
Other borrowings | 0 | 0 | ||||
Derivative Liabilities | 636 | 1,178 | ||||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 3 [Member] | ||||||
Assets: | ||||||
Cash and due from banks and money market investments | 0 | 0 | ||||
Investment securities available for sale | 10,180 | 11,084 | ||||
Investment securities held to maturity, net of ACL | 175,019 | 167,147 | ||||
Equity Securities | 0 | 0 | ||||
Other investment securities | 0 | 0 | ||||
Loans held for sale | 0 | 0 | ||||
Loans held for investment, net of ACL | 10,954,724 | 10,900,400 | ||||
Mortgage servicing rights | 44,337 | 42,132 | ||||
Derivative Assets | 0 | 0 | ||||
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract] | ||||||
Deposits | 0 | 0 | ||||
Securities sold under agreements to repurchase | 0 | 0 | ||||
Advances from FHLB | 0 | 0 | ||||
Other borrowings | 175,122 | 177,689 | ||||
Derivative Liabilities | $ 0 | $ 0 |
REVENUE FROM CONTRACTS WITH C_3
REVENUE FROM CONTRACTS WITH CUSTOMERS (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation Of Revenue [Line Items] | ||||
Net interest income | $ 196,186 | $ 184,783 | $ 381,810 | $ 361,048 |
Noninterest Income | 30,941 | 29,884 | 63,799 | 60,840 |
Total Revenues | 227,127 | 214,667 | 445,609 | 421,888 |
Other non-interest income | 14,447 | 12,477 | 27,461 | 22,615 |
Recognized revenue, contingent commission income, payments confirmed and released | 265 | 16 | 3,200 | 3,300 |
Service charges and fees on deposit accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 9,466 | 8,788 | 18,829 | 17,092 |
Insurance commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 2,946 | 2,215 | 8,221 | 7,456 |
Merchant-related income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 2,436 | 2,462 | 5,025 | 3,857 |
Credit and debit card fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 7,864 | 7,057 | 14,954 | 13,094 |
Other service charges and fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 3,643 | 2,294 | 6,665 | 4,450 |
Not inscope of Topic 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 4,586 | 7,068 | 10,105 | 14,891 |
Mortgage Banking Segment [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net interest income | 26,335 | 26,331 | 52,114 | 51,571 |
Noninterest Income | 4,167 | 6,137 | 9,419 | 13,253 |
Total Revenues | 30,502 | 32,468 | 61,533 | 64,824 |
Mortgage Banking Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 0 | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 0 | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 0 | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 0 | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 59 | 177 | 202 | 350 |
Mortgage Banking Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 4,108 | 5,960 | 9,217 | 12,903 |
Consumer Retail Banking Segment [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net interest income | 102,397 | 64,751 | 191,943 | 123,234 |
Noninterest Income | 19,783 | 16,726 | 40,246 | 33,969 |
Total Revenues | 122,180 | 81,477 | 232,189 | 157,203 |
Consumer Retail Banking Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 5,495 | 4,966 | 11,034 | 9,442 |
Consumer Retail Banking Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 2,724 | 1,987 | 7,691 | 6,954 |
Consumer Retail Banking Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 1,711 | 1,910 | 3,533 | 2,832 |
Consumer Retail Banking Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 7,391 | 6,621 | 14,062 | 12,266 |
Consumer Retail Banking Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 2,066 | 846 | 3,176 | 1,711 |
Consumer Retail Banking Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 396 | 396 | 750 | 764 |
Commercial And Corporate Segment [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net interest income | 31,379 | 51,498 | 71,794 | 100,479 |
Noninterest Income | 4,448 | 4,139 | 9,002 | 8,036 |
Total Revenues | 35,827 | 55,637 | 80,796 | 108,515 |
Commercial And Corporate Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 3,069 | 2,987 | 6,045 | 5,958 |
Commercial And Corporate Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 0 | 0 | 0 | 0 |
Commercial And Corporate Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 381 | 257 | 754 | 513 |
Commercial And Corporate Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 21 | 21 | 37 | 40 |
Commercial And Corporate Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 876 | 693 | 1,989 | 1,212 |
Commercial And Corporate Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 101 | 181 | 177 | 313 |
Treasury And Investments Segment [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net interest income | 11,466 | 19,039 | 18,875 | 40,622 |
Noninterest Income | (51) | 85 | (163) | 141 |
Total Revenues | 11,415 | 19,124 | 18,712 | 40,763 |
Treasury And Investments Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 0 | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 0 | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 0 | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 0 | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 0 | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | (51) | 85 | (163) | 141 |
United States Operations Segment [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net interest income | 18,688 | 16,406 | 35,170 | 31,429 |
Noninterest Income | 678 | 1,068 | 1,422 | 2,043 |
Total Revenues | 19,366 | 17,474 | 36,592 | 33,472 |
United States Operations Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 157 | 135 | 295 | 284 |
United States Operations Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 20 | 28 | 49 | 57 |
United States Operations Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 17 | 12 | 22 | 25 |
United States Operations Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 3 | 11 | (4) | 14 |
United States Operations Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 485 | 431 | 984 | 889 |
United States Operations Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | (4) | 451 | 76 | 774 |
Virgin Islands Operations Segment [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net interest income | 5,921 | 6,758 | 11,914 | 13,713 |
Noninterest Income | 1,916 | 1,729 | 3,873 | 3,398 |
Total Revenues | 7,837 | 8,487 | 15,787 | 17,111 |
Virgin Islands Operations Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 745 | 700 | 1,455 | 1,408 |
Virgin Islands Operations Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 202 | 200 | 481 | 445 |
Virgin Islands Operations Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 327 | 283 | 716 | 487 |
Virgin Islands Operations Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 449 | 404 | 859 | 774 |
Virgin Islands Operations Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | 157 | 147 | 314 | 288 |
Virgin Islands Operations Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest Income | $ 36 | $ (5) | $ 48 | $ (4) |
REVENUE FROM CONTRACTS WITH C_4
REVENUE FROM CONTRACTS WITH CUSTOMERS - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Revenue from External Customer [Line Items] | ||||||||
Revenues | $ 227,127 | $ 214,667 | $ 445,609 | $ 421,888 | ||||
Contract With Customer Liability | $ 1,049 | $ 1,989 | $ 1,049 | $ 1,989 | $ 1,154 | $ 1,443 | $ 2,070 | $ 2,151 |
REVENUE FROM CONTRACTS WITH C_5
REVENUE FROM CONTRACTS WITH CUSTOMERS - Activity of Contract Liability (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Contract with Customer, Liability [Abstract] | ||||
Beginning balance | $ 1,154 | $ 2,070 | $ 1,443 | $ 2,151 |
Revenue recogized | (105) | (81) | (394) | (162) |
Ending balance | $ 1,049 | $ 1,989 | $ 1,049 | $ 1,989 |
SUPPLEMENTAL CASH FLOW INFORM_3
SUPPLEMENTAL CASH FLOW INFORMATION - Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Cash paid for: | ||||
Interest on borrowings | $ 26,148 | $ 36,936 | ||
Income tax | 15,295 | 8,968 | ||
Operating cash flow from operating leases | 9,156 | 9,817 | ||
Non-cash investing and financing activities: | ||||
Additions to OREO | 10,698 | 8,647 | ||
Additions to auto and other repossed assets | 20,575 | 18,155 | ||
Capitalization of servicing assets | $ 828 | $ 1,550 | 1,958 | 2,900 |
Loan securitizations | 78,397 | 106,833 | ||
Loans held for investment transferred to held for sale | 2,443 | 31,383 | ||
Right-of-use ("ROU") asset obtained in exchange for operating lease liabilities | 1,158 | 2,610 | ||
Unsettled purchases of investment securities | 20,202 | 50,026 | ||
Unsettled common stock share repurchases | $ 0 | $ 772 |
SEGMENT INFORMATION - Additiona
SEGMENT INFORMATION - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2022 numberofreportableunits | |
Segment Reporting [Abstract] | |
Number of reportable segments | 6 |
SEGMENT INFORMATION - Informati
SEGMENT INFORMATION - Information about Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Segment Reporting Information [Line Items] | ||||
Interest income | $ 208,625 | $ 201,459 | $ 406,479 | $ 396,101 |
Interest expense | (12,439) | (16,676) | (24,669) | (35,053) |
Net interest income | 196,186 | 184,783 | 381,810 | 361,048 |
Provision for loan and lease losses | (12,665) | 26,302 | 4,324 | 40,745 |
Non-interest income | 30,941 | 29,884 | 63,799 | 60,840 |
Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 208,625 | 201,459 | 406,479 | 396,101 |
Net (charge) credit for transfer of funds | 0 | 0 | 0 | 0 |
Interest expense | (12,439) | (16,676) | (24,669) | (35,053) |
Net interest income | 196,186 | 184,783 | 381,810 | 361,048 |
Provision for loan and lease losses | (10,003) | 26,155 | 3,799 | 41,407 |
Non-interest income | 30,941 | 29,884 | 63,799 | 60,840 |
Direct non-interest expenses | (71,182) | (76,609) | (142,555) | (154,168) |
Segment income | 145,942 | 164,213 | 306,853 | 309,127 |
Average earnings assets | 18,903,902 | 19,074,536 | 19,097,909 | 18,492,045 |
Mortgage Banking Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 26,335 | 26,331 | 52,114 | 51,571 |
Non-interest income | 4,167 | 6,137 | 9,419 | 13,253 |
Mortgage Banking Segment [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 33,205 | 36,945 | 66,276 | 74,005 |
Net (charge) credit for transfer of funds | (6,870) | (10,614) | (14,162) | (22,434) |
Interest expense | 0 | 0 | 0 | 0 |
Net interest income | 26,335 | 26,331 | 52,114 | 51,571 |
Provision for loan and lease losses | 3,605 | (1,030) | 7,308 | (244) |
Non-interest income | 4,167 | 6,137 | 9,419 | 13,253 |
Direct non-interest expenses | (5,681) | (7,525) | (12,587) | (15,522) |
Segment income | 28,426 | 23,913 | 56,254 | 49,058 |
Average earnings assets | 2,243,188 | 2,563,768 | 2,268,279 | 2,611,065 |
Consumer Retail Banking Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 102,397 | 64,751 | 191,943 | 123,234 |
Non-interest income | 19,783 | 16,726 | 40,246 | 33,969 |
Consumer Retail Banking Segment [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 73,487 | 66,237 | 143,924 | 131,970 |
Net (charge) credit for transfer of funds | 34,039 | 5,901 | 58,321 | 6,956 |
Interest expense | (5,129) | (7,387) | (10,302) | (15,692) |
Net interest income | 102,397 | 64,751 | 191,943 | 123,234 |
Provision for loan and lease losses | (15,055) | (791) | (26,199) | (4,753) |
Non-interest income | 19,783 | 16,726 | 40,246 | 33,969 |
Direct non-interest expenses | (40,546) | (43,255) | (79,817) | (84,346) |
Segment income | 66,579 | 37,431 | 126,173 | 68,104 |
Average earnings assets | 2,860,086 | 2,491,583 | 2,810,062 | 2,467,015 |
Commercial And Corporate Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 31,379 | 51,498 | 71,794 | 100,479 |
Non-interest income | 4,448 | 4,139 | 9,002 | 8,036 |
Commercial And Corporate Segment [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 47,513 | 53,833 | 94,540 | 105,291 |
Net (charge) credit for transfer of funds | (16,134) | (2,335) | (22,746) | (4,812) |
Interest expense | 0 | 0 | 0 | 0 |
Net interest income | 31,379 | 51,498 | 71,794 | 100,479 |
Provision for loan and lease losses | 470 | 27,752 | 17,092 | 44,931 |
Non-interest income | 4,448 | 4,139 | 9,002 | 8,036 |
Direct non-interest expenses | (9,048) | (8,298) | (17,907) | (19,836) |
Segment income | 27,249 | 75,091 | 79,981 | 133,610 |
Average earnings assets | 3,624,176 | 3,888,725 | 3,662,720 | 3,957,859 |
Treasury And Investments Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 11,466 | 19,039 | 18,875 | 40,622 |
Non-interest income | (51) | 85 | (163) | 141 |
Treasury And Investments Segment [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 27,143 | 16,708 | 49,327 | 29,470 |
Net (charge) credit for transfer of funds | (10,705) | 8,191 | (20,654) | 23,125 |
Interest expense | (4,972) | (5,860) | (9,798) | (11,973) |
Net interest income | 11,466 | 19,039 | 18,875 | 40,622 |
Provision for loan and lease losses | 35 | 0 | 423 | 127 |
Non-interest income | (51) | 85 | (163) | 141 |
Direct non-interest expenses | (905) | (1,127) | (1,790) | (2,361) |
Segment income | 10,545 | 17,997 | 17,345 | 38,529 |
Average earnings assets | 7,769,754 | 7,588,530 | 7,931,699 | 6,921,007 |
United States Operations Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 18,688 | 16,406 | 35,170 | 31,429 |
Non-interest income | 678 | 1,068 | 1,422 | 2,043 |
United States Operations Segment [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 21,081 | 20,651 | 39,938 | 40,983 |
Net (charge) credit for transfer of funds | (330) | (1,143) | (759) | (2,835) |
Interest expense | (2,063) | (3,102) | (4,009) | (6,719) |
Net interest income | 18,688 | 16,406 | 35,170 | 31,429 |
Provision for loan and lease losses | 1,678 | (860) | 5,225 | (623) |
Non-interest income | 678 | 1,068 | 1,422 | 2,043 |
Direct non-interest expenses | (8,237) | (9,103) | (16,716) | (17,397) |
Segment income | 12,807 | 7,511 | 25,101 | 15,452 |
Average earnings assets | 2,036,108 | 2,103,002 | 2,050,791 | 2,090,898 |
Virgin Islands Operations Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 5,921 | 6,758 | 11,914 | 13,713 |
Non-interest income | 1,916 | 1,729 | 3,873 | 3,398 |
Virgin Islands Operations Segment [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 6,196 | 7,085 | 12,474 | 14,382 |
Net (charge) credit for transfer of funds | 0 | 0 | 0 | 0 |
Interest expense | (275) | (327) | (560) | (669) |
Net interest income | 5,921 | 6,758 | 11,914 | 13,713 |
Provision for loan and lease losses | (736) | 1,084 | (50) | 1,969 |
Non-interest income | 1,916 | 1,729 | 3,873 | 3,398 |
Direct non-interest expenses | (6,765) | (7,301) | (13,738) | (14,706) |
Segment income | 336 | 2,270 | 1,999 | 4,374 |
Average earnings assets | $ 370,590 | $ 438,928 | $ 374,358 | $ 444,201 |
SEGMENT INFORMATION - Reconcili
SEGMENT INFORMATION - Reconciliation of Reportable Segment Financial Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net Income (Loss): | ||||
Income before income taxes | $ 108,798 | $ 110,650 | $ 234,423 | $ 199,822 |
Income tax expense | 34,103 | 40,092 | 77,128 | 68,114 |
Net income | 74,695 | 70,558 | 157,295 | 131,708 |
Segment Reconciling Items [Member] | ||||
Net Income (Loss): | ||||
Segment income | 145,942 | 164,213 | 306,853 | 309,127 |
Other operating expenses | 37,144 | 53,563 | 72,430 | 109,305 |
Income before income taxes | 108,798 | 110,650 | 234,423 | 199,822 |
Income tax expense | 34,103 | 40,092 | 77,128 | 68,114 |
Net income | 74,695 | 70,558 | 157,295 | 131,708 |
Average assets: | ||||
Total average earning assets for segments | 18,903,902 | 19,074,536 | 19,097,909 | 18,492,045 |
Average non-earning assets | 820,924 | 1,109,941 | 890,043 | 1,146,337 |
Total consolidated average assets | $ 19,724,826 | $ 20,184,477 | $ 19,987,952 | $ 19,638,382 |
REGULATORY MATTERS, COMMITMEN_3
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jan. 01, 2020 | |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Percentage Of Increase In ACL Adjusted In Capital Measures | 25% | |
CECL, amount excluded to be phased-on during after two years | $ 48.6 | |
Commercial And Financial Standby Letters Of Credit [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Commitmets to extend credit | 113 | |
Commitments To Extend Credit [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Commitmets to extend credit | 2,000 | |
Commitments To Extend Credit [Member] | Credit Card [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Commitmets to extend credit | 1,200 | |
ASU 2016-13 | Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Cumulative Effect Of New Accounting Principle In Period Of Adoption 1 | $ 16.2 | |
Basel III [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Capital Conservation Buffer | 2.50% |
REGULATORY MATTERS, COMMITMEN_4
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES - Regulatory capital positions (Detail) $ in Thousands | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
First BanCorp [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total Capital (to Risk-Weighted Assets) Actual | $ 2,378,124 | $ 2,433,953 |
Total Capital (to Risk-Weighted Assets) Actual Ratio | 0.1967 | 0.2050 |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 966,978 | $ 949,637 |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 0.080 | 0.080 |
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual | $ 2,049,120 | $ 2,112,630 |
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual Ratio | 0.1695 | 0.1780 |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required For Captial Adequacy | $ 543,925 | $ 534,171 |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required For Captial Adequacy Ratio | 0.045 | 0.045 |
Tier 1 Capital (to Risk-Weighted Assets) Actual | $ 2,049,120 | $ 2,112,630 |
Tier 1 Captial (to Risk-Weighted Assets) Actual Ratio | 0.1695 | 0.1780 |
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 725,234 | $ 712,228 |
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 0.060 | 0.060 |
Leverage Ratio Actual Amount | $ 2,049,120 | $ 2,112,630 |
Leverage Ratio Actual Ratio | 0.1018 | 0.1014 |
Leverage Ratio Required For Captial Adequacy | $ 805,294 | $ 833,091 |
Leverage Ratio Required For Capital Adequancy Ratio | 0.040 | 0.040 |
FirstBank [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total Capital (to Risk-Weighted Assets) Actual | $ 2,290,652 | $ 2,401,390 |
Total Capital (to Risk-Weighted Assets) Actual Ratio | 0.1896 | 0.2023 |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 966,755 | $ 949,556 |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 0.080 | 0.080 |
Total Capital (to Risk-Weighted Assets) Required To Be Well Capitalized | $ 1,208,444 | $ 1,186,944 |
Total Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio | 0.100 | 0.100 |
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual | $ 2,039,899 | $ 2,150,317 |
Common Equity Tier 1 Capital (to Risk-Weighted Assets) Actual Ratio | 0.1688 | 0.1812 |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required For Captial Adequacy | $ 543,800 | $ 534,125 |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required For Captial Adequacy Ratio | 0.045 | 0.045 |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required To Be Well Capitalized | $ 785,488 | $ 771,514 |
Common Equity Tier 1 Captial (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio | 0.065 | 0.065 |
Tier 1 Capital (to Risk-Weighted Assets) Actual | $ 2,139,899 | $ 2,258,317 |
Tier 1 Captial (to Risk-Weighted Assets) Actual Ratio | 0.1771 | 0.1903 |
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 725,066 | $ 712,167 |
Tier 1 Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 0.060 | 0.060 |
Tier 1 Capital (to Risk-Weighted Assets) Required To Be Well Capitalized | $ 966,755 | $ 949,556 |
Tier 1 Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio | 0.080 | 0.080 |
Leverage Ratio Actual Amount | $ 2,139,899 | $ 2,258,317 |
Leverage Ratio Actual Ratio | 0.1063 | 0.1085 |
Leverage Ratio Required For Captial Adequacy | $ 804,971 | $ 832,773 |
Leverage Ratio Required For Capital Adequancy Ratio | 0.040 | 0.040 |
Leverage Ratio Required To Be Well Capitalized | $ 1,006,214 | $ 1,040,967 |
Leverage Ratio Required To Be Well Capitalized Ratio | 0.050 | 0.050 |
FIRST BANCORP. (Holding Compa_3
FIRST BANCORP. (Holding Company Only) Financial Information - Statements of Financial Condition (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
ASSETS | |||
Cash and due from banks | $ 1,261,590 | $ 2,540,376 | $ 2,786,066 |
Money market investments | 1,933 | 2,682 | 2,703 |
Other assets | 246,848 | 234,143 | |
Total assets | 19,531,635 | 20,785,275 | |
Liabilities: | |||
Other borrowings | 183,762 | 183,762 | |
Accounts payable and other liabilities | 249,829 | 214,852 | |
Liabilities | 17,973,719 | 18,683,508 | |
Stockholders Equity | 1,557,916 | 2,101,767 | $ 2,204,955 |
Total liabilities and stockholders' equity | 19,531,635 | 20,785,275 | |
Holding Company [Member] | |||
ASSETS | |||
Cash and due from banks | 18,387 | 20,751 | |
Other investment securities | 285 | 285 | |
Other assets | 210 | 71 | |
Dividends Receivable | 50,797 | 295 | |
Total assets | 1,749,470 | 2,293,724 | |
Liabilities: | |||
Other borrowings | 183,762 | 183,762 | |
Accounts payable and other liabilities | 7,792 | 8,195 | |
Liabilities | 191,554 | 191,957 | |
Stockholders Equity | 1,557,916 | 2,101,767 | |
Total liabilities and stockholders' equity | 1,749,470 | 2,293,724 | |
Holding Company [Member] | Firstbank Puerto Rico [Member] | |||
ASSETS | |||
Equity Method Investments | 1,648,605 | 2,247,289 | |
Holding Company [Member] | FirstBank Insurance Agency | |||
ASSETS | |||
Equity Method Investments | 25,674 | 19,521 | |
Holding Company [Member] | FBP Statutory Trust I [Member] | |||
ASSETS | |||
Equity Method Investments | 1,951 | 1,951 | |
Holding Company [Member] | FBP Statutory Trust II [Member] | |||
ASSETS | |||
Equity Method Investments | $ 3,561 | $ 3,561 |
FIRST BANCORP. (Holding Compa_4
FIRST BANCORP. (Holding Company Only) Financial Information - Statements of Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income: | ||||
Interest income on money market investments | $ 26,491 | $ 18,192 | $ 49,738 | $ 32,512 |
Expense: | ||||
Income tax expense | 34,103 | 40,092 | 77,128 | 68,114 |
Net income | 74,695 | 70,558 | 157,295 | 131,708 |
Other comprehensive (loss) income, net of tax | (175,923) | 28,496 | (507,757) | (70,433) |
Comprehensive income | (101,228) | 99,054 | (350,462) | 61,275 |
Holding Company [Member] | ||||
Income: | ||||
Interest income on money market investments | 10 | 8 | 14 | 24 |
Other Interest And Dividend Income | 51 | 39 | 91 | 77 |
Total interest income and dividends on investments | 178,740 | 16,375 | 242,377 | 35,230 |
Expense: | ||||
Other borrowings | 1,698 | 1,285 | 3,031 | 2,579 |
Other operating expenses | 434 | 637 | 873 | 1,136 |
Total operating expenses | 2,132 | 1,922 | 3,904 | 3,715 |
Income before income taxes and equity in undistributed earnings of subsidiaries | 176,608 | 14,453 | 238,473 | 31,515 |
Income tax expense | 793 | 659 | 1,899 | 1,788 |
(Distributions in excess of earnigs) equity in undistributed earnings of subsidiaries | (101,120) | 56,764 | (79,279) | 101,981 |
Net income | 74,695 | 70,558 | 157,295 | 131,708 |
Other comprehensive (loss) income, net of tax | (175,923) | 28,496 | (507,757) | (70,433) |
Comprehensive income | (101,228) | 99,054 | (350,462) | 61,275 |
Investment In Banking Subsidiary [Member] | Holding Company [Member] | ||||
Income: | ||||
Dividend income | $ 178,679 | $ 16,328 | $ 242,272 | $ 35,129 |