Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 30, 2020 | |
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 | Sep. 30, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock Shares Outstanding | 218,228,901 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Trading Symbol | FBP | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | 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 ($0.10 par value) | |
Security Exchange Name | NYSE | |
Entity Interactive Data Current | Yes | |
Document Transition Report | false | |
Entity Incorporation State Country Code | PR |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash and due from banks | $ 2,360,524 | $ 546,391 |
Money market investments: | ||
Time deposits with other financial institutions | 300 | 300 |
Other short term investments | 108,683 | 97,408 |
Total money market investments | 108,983 | 97,708 |
Investment securities available for sale, at fair value: | ||
Securities pledged with creditors right to reledge | 326,330 | 130,165 |
Other Investment Securities Available For Sale | 2,968,319 | 1,993,360 |
Total investment securities available for sale | 3,294,649 | 2,123,525 |
Total loans, net | 11,511,227 | 8,886,543 |
Loans, net of allowance for credit losses of $384,718 (2019 - $155,139) | 11,462,557 | 8,847,066 |
Loans held for sale, at lower of cost or market | 48,670 | 39,477 |
Premises and equipment, net | 159,772 | 149,989 |
Other real estate owned | 89,049 | 101,626 |
Accrued interest receivable on loans and investments | 77,240 | 50,205 |
Deferred tax asset, net | 347,543 | 264,842 |
Goodwill | 34,401 | 28,098 |
Net Intangible assets | 43,893 | 7,573 |
Other assets | 414,217 | 177,842 |
Total assets | 18,659,768 | 12,611,266 |
LIABILITIES | ||
Non-interest-bearing deposits | 4,467,041 | 2,367,856 |
Interest-bearing deposits | 10,735,857 | 6,980,573 |
Total deposits | 15,202,898 | 9,348,429 |
Securities sold under agreements to repurchase | 300,000 | 100,000 |
Advances from the Federal Home Loan Bank (FHLB) | 490,000 | 570,000 |
Other borrowings | 183,762 | 184,150 |
Accounts payable and other liabilities | 257,826 | 180,614 |
Total liabilities | 16,434,486 | 10,383,193 |
Preferred stock, authorized 50,000,000 shares: | ||
Non-cumulative Perpetual Monthly Income Preferred Stock: 22,004,000 shares issued, 1,444,146 shares outstanding, aggregate liquidation value of $36,104 | 36,104 | 36,104 |
Common stock, $0.10 par value, authorized, 2,000,000,000 shares; 223,028,185 shares issued(2019 - 222,103,721 shares issued) | 22,303 | 22,210 |
Less: Treasury stock (at par value) | (480) | (474) |
Common stock outstanding, 218,228,9019 shares outstanding (2019 - 217,359,337 shares outstanding) | 21,823 | 21,736 |
Additional paid-in capital | 945,213 | 941,652 |
Retained earnings, includes legal surplus reserve of $97,586 as of each June 30, 2020 and Dcember 31, 2019 | 1,176,815 | 1,221,817 |
Accumulated other comprehensive income (loss), net of tax of $7,752 as of June 30, 2020 and December 31, 2019 | 45,327 | 6,764 |
Total stockholders' equity | 2,225,282 | 2,228,073 |
Total liabilities and stockholders' equity | $ 18,659,768 | $ 12,611,266 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Statement Of Financial Position [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 3,242,955 | $ 2,109,008 |
Debt Securities, Available-for-sale, Allowance for Credit Loss | 1,386 | 0 |
Investment securities held to maturity, fair value | 166,974 | 110,374 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 10,176 | 0 |
Allowance for credit losses on loans and finance leases | $ 384,718 | $ 155,139 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Non-cumulative Perpetual Monthly Income Preferred Stock: issued | 22,004,000 | 22,004,000 |
Non-cumulative Perpetual Monthly Income Preferred Stock, shares outstanding | 1,444,146 | 1,444,146 |
Non-cumulative Perpetual Monthly Income Preferred Stock, aggregate liquidation value | $ 36,104 | $ 36,104 |
Common stock, par value | $ 0.1 | $ 0.1 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued | 223,028,185 | 222,103,721 |
Common stock, shares outstanding | 218,228,901 | 217,359,337 |
Legal surplus reserve amount | $ 97,586 | $ 97,586 |
Accumulated other comprehensive loss, net of tax | $ 7,752 | $ 7,752 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Interest and dividend income: | ||||
Loans | $ 156,189 | $ 154,229 | $ 447,110 | $ 453,243 |
Investment securities | 13,808 | 13,985 | 44,222 | 44,723 |
Money market investments and interest-bearing cash accounts | 405 | 4,081 | 2,950 | 10,311 |
Total interest income | 170,402 | 172,295 | 494,282 | 508,277 |
Interest expense: | ||||
Deposits | 16,088 | 20,341 | 52,739 | 56,936 |
Loans payable | 0 | 0 | 21 | 0 |
Securities sold under agreements to repurchase | 1,484 | 1,320 | 5,282 | 5,489 |
Advances from FHLB | 2,778 | 3,878 | 8,656 | 11,490 |
Other borrowings | 1,356 | 2,331 | 5,029 | 7,210 |
Total interest expense | 21,706 | 27,870 | 71,727 | 81,125 |
Net interest income | 148,696 | 144,425 | 422,555 | 427,152 |
Provision for Loan, Lease, and Other Losses [Abstract] | ||||
Provision For Loan And Lease Losses | 48,078 | 7,398 | 158,531 | 31,752 |
Provision for credit losses | 46,914 | 7,398 | 163,294 | 31,340 |
Net interest income after provision for credit losses | 101,782 | 137,027 | 259,261 | 395,812 |
Non-interest income: | ||||
Service charges and fees on deposit accounts | 5,848 | 6,108 | 16,280 | 17,711 |
Mortgage banking activities | 7,099 | 4,396 | 14,573 | 12,418 |
Gain on early extinguishment of debt | 94 | 0 | 94 | 0 |
Insurance commission income | 1,473 | 1,983 | 7,436 | 8,258 |
Net gain (loss) on investment securities | 5,288 | (497) | 13,380 | (497) |
Other non-interest income | 10,132 | 9,411 | 29,263 | 28,277 |
Total non-interest income | 29,934 | 21,401 | 81,026 | 66,167 |
Non-interest expenses: | ||||
Employees' compensation and benefits | 43,063 | 41,409 | 125,454 | 121,518 |
Occupancy and equipment | 19,064 | 15,129 | 50,567 | 47,018 |
Business promotion | 3,046 | 4,004 | 8,982 | 11,650 |
Professional fees | 11,563 | 11,875 | 35,324 | 33,856 |
Taxes, other than income taxes | 4,510 | 3,904 | 11,967 | 11,461 |
FDIC deposit insurance | 1,630 | 1,465 | 4,588 | 4,645 |
Net loss on OREO and OREO operations | 1,019 | 2,578 | 3,018 | 11,364 |
Credit and debit card processing expenses | 4,859 | 4,764 | 12,747 | 12,738 |
Communications | 2,246 | 1,834 | 5,975 | 5,300 |
Merger and Restructuring costs | 10,441 | 592 | 14,188 | 592 |
Other non-interest expenses | 6,067 | 5,279 | 16,668 | 16,012 |
Total non-interest expenses | 107,508 | 92,833 | 289,478 | 276,154 |
Income before income taxes | 24,208 | 65,595 | 50,809 | 185,825 |
Income tax (benefit) expense | (4,405) | 19,268 | (1,326) | 54,897 |
Net income | 28,613 | 46,327 | 52,135 | 130,928 |
Net income attributable to common stockholders | $ 27,944 | $ 45,658 | $ 50,128 | $ 128,921 |
Net income per common share: | ||||
Basic | $ 0.13 | $ 0.21 | $ 0.23 | $ 0.60 |
Diluted | $ 0.13 | $ 0.21 | $ 0.23 | $ 0.59 |
Debt Securities [Member] | ||||
Provision for Loan, Lease, and Other Losses [Abstract] | ||||
Provision for Other Credit Losses | $ (361) | $ 0 | $ 2,404 | $ 0 |
Unfunded Loan Commitment [Member] | ||||
Provision for Loan, Lease, and Other Losses [Abstract] | ||||
Provision for Other Credit Losses | $ (803) | $ 0 | $ 2,359 | $ (412) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 28,613 | $ 46,327 | $ 52,135 | $ 130,928 |
Other comprehensive income: | ||||
Unrealized gain (loss) on debt securities for which credit losses has been recognized | 649 | (557) | (16) | (488) |
Reclassification adjustment for provision for credit loss expense | 0 | 497 | 1,631 | 497 |
Reclassification adjustment for net gain included in net income on sales of available-for-sale securities with no credit losses previously recognized | (5,288) | 0 | (13,380) | 0 |
All other unrealized holding (losses) gains on available-for-sale securities | (3,304) | 7,622 | 50,328 | 45,530 |
Other comprehensive (loss) income for the period | (7,943) | 7,562 | 38,563 | 45,539 |
Total comprehensive income | $ 20,670 | $ 53,889 | $ 90,698 | $ 176,467 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows from operating activities: | ||
Net income | $ 52,135 | $ 130,928 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreaciation amortization | 13,752 | 13,365 |
Amortization Of Intangible Assets | 2,912 | 2,319 |
Provision for credit losses | 163,294 | 31,340 |
Deferred income tax (benefit) expense | (22,464) | 46,006 |
Stock-based compensation | 3,854 | 2,997 |
Gain on early extinguishment of debt | (94) | 0 |
Unrealized gain on derivative instruments | (4,693) | (2,105) |
Net (gain) on disposals or sales of premises and equipment and other assets | (212) | (59) |
Net gain on sales of loans | (7,568) | (6,059) |
Net amortization/accretion of premiums, discounts and deferred loan fees and costs | (3,281) | (5,621) |
Originations and purchases of loans held for sale | (318,579) | (255,020) |
Sales and repayments of loans held for sale | 323,275 | 259,316 |
Amortization of broker placement fees | 437 | 557 |
Net amortization/accretion of premium and discounts on investment securities | 10,739 | 1,084 |
Increase in accrued interest receivable | (1,316) | 1,767 |
(Decrase) increase in accrued interest payable | (2,006) | 785 |
Decrease in other assets | (31,074) | 31,411 |
Decrease in other liabilities | 4,903 | (17,824) |
Net cash provided by operating activities | 170,634 | 235,684 |
Cash flows from investing activities: | ||
Net disbursements on loans held for investment | (382,857) | (273,477) |
Proceeds from sale of loans held for investment | 3,610 | 66,891 |
Proceeds from sale of repossessed assets | 28,247 | 49,105 |
Proceeds from sales of available-for-sale securities | 1,080,766 | 0 |
Purchases of available-for-sale securities | (1,988,902) | (233,316) |
Proceeds from principal repayments and maturities of available-for-sale securities | 766,603 | 483,275 |
Proceeds from principal repayments of held-to-maturity securities | 6,429 | 6,139 |
Additions to premises and equipment | (11,317) | (17,144) |
Proceeds from sales of premises and equipment and other assets | 493 | 95 |
Net redemptions of other investment securities | 2,182 | (680) |
Proceeds from the settlement of insurance claims - investing activities | 0 | 202 |
Net cash acquired in acquisition | 406,626 | 0 |
Net cash used in investing activities | (88,120) | 81,090 |
Cash flows from financing activities: | ||
Net increase in deposits | 1,657,962 | 146,526 |
Net decrease in short-term borrowings | (35,000) | (50,086) |
Repayment of long-term borrowings | (45,294) | 0 |
Proceeds from long-term reverse repurchase agreements | 200,000 | 0 |
Repurchase of outstanding common stock | (206) | (1,959) |
Dividends paid on common stock | (32,561) | (19,514) |
Dividends paid on preferred stock | (2,007) | (2,007) |
Net cash provided by financing activities | 1,742,894 | 72,960 |
Net increase in cash and cash equivalents | 1,825,408 | 389,734 |
Cash and cash equivalents at beginning of period | 644,099 | 586,203 |
Cash and cash equivalents at end of period | 2,469,507 | 975,937 |
Cash and cash equivalents include: | ||
Cash and Cash Equivalents, at Carrying Value, Total | $ 2,469,507 | $ 975,937 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] |
Total stockholders' equity | $ 36,104 | $ 21,724 | $ 939,674 | $ 1,087,617 | $ (40,415) | |
Balance at beginning of period at Dec. 31, 2018 | 36,104 | 21,724 | 939,674 | 1,087,617 | (40,415) | |
Common stock withheld for taxes | (18) | (1,941) | ||||
Restricted stock grants | 31 | (31) | ||||
Unrestricted stock grants | 0 | 0 | ||||
Stock-based compensation | 2,997 | |||||
Net income | $ 130,928 | 130,928 | ||||
Dividends on common stock | (19,607) | |||||
Dividends on preferred stock | (2,007) | |||||
Other comprehensive income, net of tax | 45,539 | 45,539 | ||||
Balance at end of period at Sep. 30, 2019 | 2,200,595 | 36,104 | 21,736 | 940,700 | 1,196,931 | 5,124 |
Total stockholders' equity | 2,200,595 | 36,104 | 21,736 | 940,700 | 1,196,931 | 5,124 |
Total stockholders' equity | 36,104 | 21,733 | 939,769 | 1,157,808 | (2,438) | |
Balance at beginning of period at Jun. 30, 2019 | 36,104 | 21,733 | 939,769 | 1,157,808 | (2,438) | |
Common stock withheld for taxes | (1) | (53) | ||||
Restricted stock grants | 5 | (5) | ||||
Unrestricted stock grants | 0 | 0 | ||||
Stock-based compensation | 988 | |||||
Net income | 46,327 | 46,327 | ||||
Dividends on common stock | (6,535) | |||||
Dividends on preferred stock | (669) | |||||
Other comprehensive income, net of tax | 7,562 | 7,562 | ||||
Balance at end of period at Sep. 30, 2019 | 2,200,595 | 36,104 | 21,736 | 940,700 | 1,196,931 | 5,124 |
Total stockholders' equity | 2,200,595 | 36,104 | 21,736 | 940,700 | 1,196,931 | 5,124 |
Total stockholders' equity | 2,200,595 | 36,104 | 21,736 | 940,700 | 1,196,931 | 5,124 |
Total stockholders' equity | 2,228,073 | 36,104 | 21,736 | 941,652 | 1,221,817 | 6,764 |
Balance at beginning of period at Dec. 31, 2019 | 2,228,073 | 36,104 | 21,736 | 941,652 | 1,221,817 | 6,764 |
Common stock withheld for taxes | (5) | (201) | ||||
Restricted stock grants | 90 | (90) | ||||
Unrestricted stock grants | 2 | (2) | ||||
Stock-based compensation | 3,854 | |||||
Net income | 52,135 | 52,135 | ||||
Dividends on common stock | (32,808) | |||||
Dividends on preferred stock | (2,007) | |||||
Other comprehensive income, net of tax | 38,563 | 38,563 | ||||
Balance at end of period at Sep. 30, 2020 | 2,225,282 | 36,104 | 21,823 | 945,213 | 1,176,815 | 45,327 |
Total stockholders' equity | 2,228,073 | 36,104 | 21,823 | 945,213 | 1,176,815 | 45,327 |
Total stockholders' equity | 36,104 | 21,816 | 943,816 | 1,159,828 | 53,270 | |
Balance at beginning of period at Jun. 30, 2020 | 36,104 | 21,816 | 943,816 | 1,159,828 | 53,270 | |
Common stock withheld for taxes | 0 | (8) | ||||
Restricted stock grants | 5 | (5) | ||||
Unrestricted stock grants | 2 | (2) | ||||
Stock-based compensation | 1,412 | |||||
Net income | 28,613 | 28,613 | ||||
Dividends on common stock | (10,957) | |||||
Dividends on preferred stock | (669) | |||||
Other comprehensive income, net of tax | (7,943) | (7,943) | ||||
Balance at end of period at Sep. 30, 2020 | 2,225,282 | 36,104 | 21,823 | 945,213 | 1,176,815 | 45,327 |
Total stockholders' equity | 2,225,282 | 36,104 | 21,823 | 945,213 | 1,176,815 | 45,327 |
Total stockholders' equity | $ 2,225,282 | $ 36,104 | $ 21,823 | $ 945,213 | $ 1,176,815 | $ 45,327 |
CONSOLIDATED STATEMENT OF CHA_2
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | Jul. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Statement Of Stockholders Equity [Abstract] | |||||
Common Stock Dividends Per Share Declared | $ 0.05 | $ 0.05 | $ 0.03 | $ 0.15 | $ 0.09 |
BASIS OF PRESENTATION AND SIGNI
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 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 included in the 2019 Annual Report on Form 10-K, which were affected by the adoption, on January 1, 2020, of ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” as amended (“ASC 326”) and the acquisition of Banco Santander Puerto Rico (“BSPR”) effective September 1, 2020, as further described below. 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 of the Corporation for the year ended December 31, 2019, which are included in the 2019 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 nine-month period ended September 30, 2020 are not necessarily indicative of the results to be expected for any other interim period or for the entire year. Acquisition of Banco Santander Puerto Rico Effective September 1, 2020, FirstBank Puerto Rico (“FirstBank” or the “Bank”) completed the acquisition of Santander Bancorp, a wholly-owned subsidiary of Santander Holdings USA, Inc. and the holding company of BSPR pursuant to a Stock Purchase Agreement dated as of October 21, 2019, by and among FirstBank and Santander Holding, USA, Inc. (the “Stock Purchase Agreement”). The transaction was structured as an all-cash acquisition of all of the issued and outstanding common stock of Santander Bancorp, the sole shareholder of BSPR, a corporation incorporated under the laws of the Commonwealth of Puerto Rico and the sole shareholder of Santander Insurance Agency, Inc. (Santander Bancorp is referred together with BSPR collectively as “Santander,” “BSPR” or the “Acquired Companies”). Immediately following the closing, Santander Bancorp was merged with and into FirstBank (the “HoldCo Merger”), with FirstBank surviving the HoldCo Merger. Immediately following the effectiveness of the HoldCo Merger, BSPR was merged with and into FirstBank, with FirstBank as the surviving entity in the merger. In consideration for the acquisition of BSPR, the Corporation paid cash in an amount of approximately (i) $ 394.8 million for 117.5% of BSPR’s core tangible common equity, comprised of a $ 58.8 million premium on $ 336 million of core tangible common equity, plus (ii) $ 882.8 million for BSPR’s excess capital (paid at par), which represents the estimated closing payment pursuant to the terms of the Stock Purchase Agreement. At closing, prior to purchase accounting adjustment, BSPR had $ 5.5 billion in total assets, $ 2.6 billion in gross loans, and $ 4.2 billion in total deposits. BSPR operated 27 banking branches in Puerto Rico. Refer to Note 2 – Business Combination to the consolidated financial statements for more information about this acquisition. The Corporation accounts for acquisitions in accordance with the accounting guidance issued by the Financial Accounting Standards Board (“FASB”) in Accounting Standards Codification (“ASC” or “Codification”) Topic No. 805, “Business Combination” (“ASC 805”), with FirstBank treated as the acquirer for accounting purposes. Under ASC 805, a business combination is defined as a transaction or other event in which an acquirer obtains control of one or more businesses. In addition, under ASC 805, a business is considered to be an integrated set of activities and assets capable of being conducted and managed for the purpose of providing a return in the form of dividends, lower costs, or other economic benefits directly to investors or other owners, members, or participants. If the net assets acquired meet the definition of a business and the transaction meets the definition of a business combination in ASC 805, the transaction is accounted for using the acquisition method pursuant to ASC 805. Under the acquisition method, the identifiable assets acquired, the liabilities assumed, and any non-controlling interest in the acquiree are recorded at their estimated fair values as of the date of acquisition. Goodwill is recognized as the excess of the sum of the consideration transferred, plus the fair value of any non-controlling interest in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. The Corporation has a measurement period, in which it may retrospectively adjust the initially recorded fair values to reflect new information obtained during the measurement period that, if known, would have affected the acquisition date fair value measurements. This measurement period cannot be more than one year after the acquisition date and ends as soon as the acquirer (i) receives the information it had been seeking about facts and circumstances that existed as of the acquisition date or (ii) learns that it cannot obtain further information. The BSPR acquisition resulted in the recognition of goodwill in the amount of $ 6.3 million, on a provisional basis. Risks and Uncertainties related to COVID-19 The COVID-19 pandemic has caused significant disruption in economic activity in the Corporation’s markets. In response to the COVID-19 pandemic, Puerto Rico’s Governor has issued several executive orders including, among other things, a stay-at-home mandate on March 15, 2020, which was subsequently extended until June 15, 2020, the lockdown of non-essential businesses, and a nightly curfew. On May 4, 2020, the Puerto Rico government began to implement a plan for the gradual reopening of the economy. While substantially all parts of the economy of Puerto Rico have reopened, under new guidelines that affect how individuals interact and how businesses and governments operate, the operations and financial results of the Corporation have been and could continue to be adversely affected by the COVID-19 pandemic. The Corporation’s businesses in the other jurisdictions in which it operates have also been adversely affected by the COVID-19 pandemic. On March 26, 2020, Florida’s Governor issued a stay-at-home order, and the state began to reopen essential operations through a phase-in process on May 4, 2020. On September 25, 2020, the state of Florida entered phase 3 of their reopening process, which essentially lifted all COVID-19 restrictions on restaurants and other businesses across the state. Additionally, in the U.S. Virgin Islands “(USVI”,) the government issued a stay-at-home order on March 23, 2020, which was subsequently extended until May 3, 2020. The USVI reopened tourism-based economy on June 1, 2020 but closed its borders once again on August 19, 2020 and reinstated stay-at-home orders for locals after a surge in COVID-19 cases. After cases decreased, the USVI reopened for tourism once again on September 19, 2020, with entry testing requirements expanded to include all travelers having ages of five years and older. The Corporation’s business, financial condition and results of operations generally rely upon the ability of the Corporation’s borrowers to repay their loans, the value of collateral underlying the Corporation’s secured loans, and demand for loans and other products and services that the Corporation offers, which are highly dependent on the business environment in the primary markets in which the Corporation operates. Governments globally intervened with fiscal policies to mitigate the impact of the COVID-19 pandemic, including through the Coronavirus Aid, Relief, and Economic Security Act of 2020 (the “CARES Act of 2020”) in the U.S., which were intended to provide economic relief to businesses and individuals. Some of the provisions of the CARES Act of 2020 improved the ability of impacted borrowers to repay their loans, including by providing direct cash payments to eligible taxpayers, including Puerto Rico residents, below specified income limits, expanded unemployment insurance benefits and eligibility, and relief designed to prevent layoffs and business closures at small businesses. The absence of further relief in light of the continuing pandemic may adversely affect the ability of borrowers to continue to repay their loans. Financial results for the nine-month period ended September 30, 2020 included a $163.3 million provision for credit losses, an increase of $132.0 million compared to the same period in 2019. While the reserves initially required by the current expected credit losses (“CECL”) methodology for the loans acquired in the BSPR acquisition that were not purchased credit deteriorated (“non-PCD”) loans resulted in a charge to the provision of $38.9 million in the third quarter of 2020, the remainder of the increase in the provision was largely related to the effect of the COVID-19 pandemic on economic forecasts employed in the Corporation’s CECL model. In addition, although increased customer activity was reflected in the third quarter of 2020, the various stay-at-home and lockdown orders have resulted in a reduction of the Corporation’s transaction fee income, such as that from credit and debit cards, automated teller machines (ATMs), and point-of-sale (POS) transactions for the nine-month period ended September 30, 2020, as compared to the same period in 2019. There was also an increase in deposit balances resulting from benefits received by customers, which requires the Corporation to maintain higher liquidity levels. Further, the lower interest rate environment has adversely affected the Corporation’s net interest income and margin. During the third quarter of 2020, the Corporation continued to support its customers affected by the COVID-19 pandemic and, consistent with regulatory guidance, continued with its payment deferral and relief programs. As of September 30, 2020, the Corporation had deferred payment arrangements involving approximately $ 1.2 billion, or 10%, of its total loan portfolio consisting of 3,227 residential mortgage loans totaling $ 511.9 million, 21,750 consumer loans totaling $ 168.7 million, and 196 commercial and construction loans totaling $ 540.8 million. Most of these deferred repayment arrangements have been done under the provisions of Section 4013 of the CARES Act of 2020 or the Revised Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (the “Interagency Revised Statement”). In addition, moratoriums on loan repayments for consumer and residential mortgage products in Puerto Rico were mandated by local law. A loan modification covered by the provisions of the CARES Act of 2020 and the Interagency Revised Statement is not required to be considered as a troubled debt restructuring (“TDR”) loan. In addition, as a certified Small Business Administration (“SBA”) lender, the Corporation is participating in the SBA Paycheck Protection Program (“PPP”) to help provide loans to the Corporation’s small business customers to provide them with additional working capital. During the first nine months of 2020, the Corporation originated over 6,000 loans under this program, totaling approximately $ 390.3 million in the two rounds of the program. The acquisition of BSPR added $77.6 million of SBA PPP loans as of September 30, 2020. As of September 30, 2020, the total amount of SBA PPP loans carried on books amounted to $453.4 million. As of September 30, 2020, the Corporation’s and the Bank’s capital ratios were well in excess of all regulatory requirements and the Corporation maintained high liquidity levels with the cash and liquid securities to total assets ratio exceeding 19.2%, compared to 15.8% as of December 31, 2019. As of September 30, 2020, the Corporation had approximately $ 1.4 billion in available unused lines of credit at the Federal Home Loan Bank, and $ 936.1 million availability in the Primary Credit FED Discount Window Program. While most industries have experienced and may continue to experience adverse impacts as a result of the COVID-19 pandemic, higher increases in the allowance for credit losses (“ACL”) were made for loans in the hospitality, office and retail real estate sectors in the nine-month period ended September 30, 2020 than loans in other sectors. We have continued to monitor unfunded commitments for evidence of increased credit exposure as borrowers utilize these lines for liquidity given the pandemic. Thus far, however, the amount of draws has not increased significantly due to the COVID-19 pandemic as of October 31, 2020. The ultimate extent of the impact of the COVID-19 pandemic on the Corporation’s business, financial condition and results of operations is currently uncertain and will depend on various developments and other factors, including, among others, the duration and scope of the pandemic, as well as the overall effectiveness of governmental, regulatory and private sector responses to the pandemic, and the associated impacts on the economy, financial markets and our clients, employees and vendors. Adoption of New Accounting Requirements and Recently Issued but Not Yet Effective Accounting Requirements Accounting for Financial Instruments – Credit Losses On January 1, 2020, the Corporation adopted ASC 326, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the CECL methodology to estimate the ACL for the remaining estimated life of certain financial assets. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans held for investment and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance ( e.g., unfunded loan commitments, standby letters of credit, financial guarantees, and other similar instruments). In addition, ASC 326 made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities that management does not intend to sell or believes that it is more likely than not that the Corporation will not be required to sell such securities. The Corporation adopted ASC 326 using the modified retrospective method for financial assets measured at amortized cost, including loans held for investment and held-to-maturity debt securities, and off-balance sheet credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP . The following table illustrates the transition adjustment impact of ASC 326: (In thousands) January 1, 2020 ACL Under ASC 326 Pre-ASC 326 Impact of ASC 326 Adoption Date Adoption Adoption Assets: ACL on debt securities held to maturity $ 8,134 $ - $ 8,134 ACL on loans and finance leases Residential mortgage loans $ 94,643 $ 44,806 $ 49,837 Commercial mortgage loans 19,888 39,194 ( 19,306) Commercial and Industrial loans 29,929 15,198 14,731 Construction loans 3,167 2,370 797 Consumer loans 88,677 53,571 35,106 Total ACL on loans and finance leases $ 236,304 $ 155,139 $ 81,165 Liabilities: ACL on off-balance sheet credit exposure $ 3,922 $ - $ 3,922 Pre-tax effect in beginning retained earnings $ 248,360 $ 155,139 $ 93,221 Balance sheet reclassification (1) 434 Tax effect (31,333) After-tax effect in beginning retained earnings $ 62,322 Reflects the effect of the release of the excess of the previously-established ACL for loans purchased with credit deterioration (“PCD”) over the ACL determined for such loans following the CECL methodology, which resulted in a corresponding decrease to loans. The Corporation adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment (“OTTI”) had been recognized prior to January 1, 2020, such as available-for-sale private label mortgage-backed securities (“MBS”). As a result, the amortized cost basis for such debt securities remained the same before and after the effective date of ASC 326. The effective interest rate on these debt securities was not changed. Amounts previously recognized in accumulated other comprehensive income (“OCI”) as of January 1, 2020 relating to improvements in cash flows expected to be collected will be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after January 1, 2020 will be recorded in earnings when received. Significant Accounting Policies affected by the adoption of ASC 326 Investment securities : The Corporation classifies its investments in debt and equity securities into one of four categories: Held-to-maturity — Securities that the entity has the intent and ability to hold to maturity. These securities are carried at amortized cost. The Corporation may not sell or transfer held-to-maturity securities without calling into question its intent to hold other debt securities to maturity, unless a nonrecurring or unusual event that could not have been reasonably anticipated has occurred. Trading — Securities that are bought and held principally for the purpose of selling them in the near term. These securities are carried at fair value, with unrealized gains and losses reported in earnings. As of September 30, 2020, and December 31, 2019, the Corporation did not hold investment securities for trading purposes. Available-for-sale — Securities not classified as held-to-maturity or trading. These securities are carried at fair value, with unrealized holding gains and losses, net of deferred taxes, reported in OCI as a separate component of stockholders’ equity. The unrealized holding gains and losses do not affect earnings until they are realized, or an ACL is recorded. Equity securities — Equity securities that do not have readily available fair values are classified as equity securities in the consolidated statements of financial condition. These securities are stated at the lower of cost or realizable value. This category is principally composed of FHLB stock that is owned by the Corporation to comply with FHLB regulatory requirements. The realizable value of the stock equals its cost. Also included in this category are marketable equity securities held at fair value with changes in unrealized gains or losses recorded through earnings pursuant to the requirements of ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” Premiums and discounts on debt securities are amortized as an adjustment to interest income on investments over the life of the related securities under the interest method without anticipating prepayments, except for MBS where prepayments are anticipated. Premiums on callable debt securities, if any, are amortized to the earliest call date. Purchases and sales of securities are recognized on a trade-date basis. Gains and losses on sales are determined using the specific identification method. A debt security is placed on nonaccrual status at the time any principal or interest payments become 90 days delinquent. Interest accrued but not received for a security placed on non-accrual is reversed against interest income. No debt security is in a nonaccrual status as of September 30, 2020 and December 31, 2019. Allowance for Credit Losses – Held-to-Maturity Debt Securities : The Corporation measures expected credit losses on held-to-maturity securities by major security type. As of September 30, 2020, the held-to-maturity securities portfolio consisted of Puerto Rico municipal bonds totaling $ 189.2 million. Approximately 60% of the held-to-maturity municipal bonds were issued by three of the largest municipalities in Puerto Rico. The vast majority of revenues of these three municipalities is independent of the Puerto Rico central government. These obligations typically are not issued in bearer form, nor are they registered with the SEC, and are not rated by external credit agencies. In most cases, these bonds have priority over the payment of operating costs and expenses of the municipality, which are required by law to levy special property taxes in such amounts as are required for the payment of all of their respective general obligation bonds and loans. Accrued interest receivable on held-to-maturity debt securities totaled $ 1.8 million as of September 30, 2020 ($ 3.9 million as of December 31, 2019) and was excluded from the estimate of credit losses. The ACL for the held-to-maturity Puerto Rico municipal bonds ($ 10.2 million as of September 30, 2020) considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. These financing arrangements with Puerto Rico municipalities were issued in bond form and accounted for as securities but underwritten as loans with features that are typically found in commercial loans. Accordingly, similar to commercial loans, an internal risk rating ( i.e ., pass, special mention, substandard, doubtful, loss) is assigned to each bond at the time of issuance or acquisition, and monitored on a continuous basis with a formal assessment completed, at a minimum, on a quarterly basis. The Corporation determines the ACL for held-to-maturity Puerto Rico municipal bonds based on the product of a cumulative probability of default (PD) and loss given default (LGD), and the amortized cost basis of each bond over its remaining expected life. PD estimates represent the point-in-time as of which the PD is developed, and are updated quarterly based on, among other things, the payment performance experience, financial performance and market value indicators, and current and forecasted relevant forward-looking macroeconomic variables over the expected life of the bonds to determine a lifetime term structure PD curve. LGD estimates are determined based on, among other things, historical charge-off events and recovery payments (if any), government sector historical loss experience, as well as relevant current and forecasted macroeconomic expectations of variables, such as unemployment rates, interest rates, and market risk factors based on industry performance, to determine a lifetime term structure LGD curve. Under this approach, all future period losses for each instrument are calculated using the PD and LGD loss rates derived from the term structure curves applied to the amortized cost basis of each bond. For the relevant macroeconomic expectations of variables, the methodology considers an initial forecast period (“reasonable and supportable period”) of 2 years and a reversion period of up to 3 years, utilizing a straight-line approach and reverting back to the historical macroeconomic mean. After the reversion period, the Corporation uses a historical loss forecast period covering the remaining contractual life based on the changes in key historical economic variables during representative historical expansionary and recessionary periods. Refer to Note 5 - Investment Securities, to the consolidated financial statements for additional information about reserve balances for held-to-maturity debt securities, activity during the period, and information about changes in circumstances that caused changes in the ACL for held-to-maturity debt securities during the third quarter and first nine months of 2020. Allowance for Credit Losses – Available-for-Sale Debt Securities : For available-for-sale debt securities in an unrealized loss position, the Corporation first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written off to fair value through income. For available-for-sale debt securities that do not meet the aforementioned criteria, the Corporation evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the cash position of the issuer and its cash and capital generation capacity, which could increase or diminish the issuer’s ability to repay its bond obligations, the extent to which the fair value is less than the amortized cost basis, any adverse change to the credit conditions and liquidity of the issuer, taking into consideration the latest information available about the financial condition of the issuer, credit ratings, the failure of the issuer to make scheduled principal or interest payments, recent legislation and government actions affecting the issuer’s industry, and actions taken by the issuer to deal with the economic climate. The Corporation also takes into consideration changes in the near-term prospects of the underlying collateral of a security, if any, such as changes in default rates, loss severity given default, and significant changes in prepayment assumptions and the level of cash flows generated from the underlying collateral, if any, supporting the principal and interest payments on the debt securities. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and the Corporation records an ACL for the credit loss, limited by the amount by which the fair value is less than the amortized cost basis. The Corporation recognizes in OCI any impairment that has not been recorded through an ACL. The Corporation records changes in the ACL as a provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the uncollectibility of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. The ACL for available-for-sale securities as of September 30, 2020 amounted to $ 1.4 million. Available-for-sale debt securities held by the Corporation at quarter-end primarily consisted of securities issued by U.S. government-sponsored entities (“GSEs”), private label MBS, and certain bonds issued by the Puerto Rico Housing Finance Authority (“PRHFA”), a government instrumentality of the Commonwealth of Puerto Rico. Given the explicit and implicit guarantees provided by the U.S. federal government, the Corporation believes the credit risk in securities issued by the GSEs is low. The Corporation’s credit loss-impairment assessment was concentrated on private label MBS and PRHFA debt securities. For further information, including the methodology and assumptions used for the discounted cash flow analyses performed on private label MBS and bonds issued by the PRHFA, refer to Note 5 – Investment Securities, and Note 25, – Fair Value, to the consolidated financial statements. Accrued interest receivable on available-for-sale debt securities totaled $ 7.9 million as of September 30, 2020 ($ 5.5 million as of December 31, 2019) and is excluded from the estimate of credit losses. Loans Held for Investment : Loans that the Corporation has the ability and intent to hold for the foreseeable future are classified as held for investment and are reported at amortized cost, net of its ACL. The substantial majority of the Corporation’s loans are classified as held for investment. Amortized cost is the principal outstanding balance, net of unearned interest, cumulative charge-offs, unamortized deferred origination fees and costs, and unamortized premiums and discounts. The Corporation reports credit card loans at their outstanding unpaid principal balance plus uncollected billed interest and fees net of such amounts deemed uncollectible. Accrued interest receivable on loans totaled $ 67.2 million as of September 30, 2020 ($ 39.1 million as of December 31, 2019), 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. Interest income is accrued on the unpaid principal balance. Fees collected and costs incurred in the origination of new loans are deferred and amortized using the interest method or a method that approximates the interest method over the term of the loan as an adjustment to interest yield. Unearned interest on certain personal loans, auto loans and finance leases and discounts and premiums are recognized as income under a method that approximates the interest method. When a loan is paid-off or sold, any remaining unamortized net deferred fees, or costs, discounts and premiums are included in loan interest income in the period of payoff. Nonaccrual and Past-Due Loans - Loans on which the recognition of interest income has been discontinued are designated as nonaccrual. Loans are classified as nonaccrual when they are 90 days past due for interest and principal, with the exception of residential mortgage loans guaranteed by the Federal Housing Administration (the “FHA”), the Veterans Administration (the “VA”) or the PRHFA and credit card loans. It is the Corporation’s policy to report delinquent mortgage loans insured by the FHA, or guaranteed by the VA or the PRHFA, as loans past due 90 days and still accruing as opposed to nonaccrual loans since the principal repayment is insured or guaranteed. However, the Corporation discontinues the recognition of income relating to FHA/VA loans when such loans are over 15 months delinquent, taking into consideration the FHA interest curtailment process, and relating to PRHFA loans when such loans are over 90 days delinquent. Credit card loans continue to accrue finance charges and fees until charged off at 180 days. Loans generally may be placed on nonaccrual status prior to when required by the policies described above when the full and timely collection of interest or principal becomes uncertain (generally based on an assessment of the borrower’s financial condition and the adequacy of collateral, if any). When a loan is placed on nonaccrual status, any accrued but uncollected interest income is reversed and charged against interest income and amortization of any net deferred fees is suspended. The amount of accrued interest reversed against interest income totaled $ 0.4 1.1 i.e., the cost recovery method). Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Generally, the Corporation returns a loan to accrual status when all delinquent interest and principal becomes current under the terms of the loan agreement, or after a sustained period of repayment performance ( 6 months) and the loan is well secured and in the process of collection, and full repayment of the remaining contractual principal and interest is expected. Loans that are past due 30 days or more as to principal or interest are considered delinquent, with the exception of residential mortgage, commercial mortgage, and construction loans, which are considered past due when the borrower is in arrears on two Loans acquired - Loans acquired through a purchase or a business combination are recorded at their fair value as of the acquisition date. The Corporation performs an assessment of acquired loans to first determine if such loans have experienced more than insignificant deterioration in credit quality since their origination and thus should be classified and accounted for as purchased credit deteriorated (“PCD”) loans. For loans that have not experienced more than insignificant deterioration in credit quality since origination, referred to as non-PCD loans, the Corporation records such loans at fair value, with any resulting discount or premium accreted or amortized into interest income over the remaining life of the loan using the inte |
BUSINESS COMBINATION
BUSINESS COMBINATION | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Business Combinations [Abstract] | ||
Business Combination Disclosure [Text Block] | Includes the $ 38.9 million ($ 25.9 million after tax) provision for credit losses related to the Day 1 reserve required for non-PCD loans acquired in the BSPR acquisition. | NOTE 2 – BUSINESS COMBINATION Effective as of September 1, 2020, the Corporation completed its previously announced acquisition of BSPR pursuant to the Stock Purchase Agreement. The transaction was structured as an all-cash acquisition of all of the issued and outstanding common stock of Santander Bancorp, a financial holding company that offered a full range of financial services through its banking subsidiary BSPR and its subsidiary Santander Insurance Agency, Inc. In consideration for the acquisition, the Corporation paid cash in an amount of approximately (i) $394.8 million for 117.5% of BSPR’s core tangible common equity, comprised of a $58.8 million premium on $336 million of core tangible common equity, plus (ii) $882.8 million for BSPR’s excess capital (paid at par), which represents the estimated closing payment pursuant to the terms of the Stock Purchase Agreement. As part of the conditions to close, Santander Holdings USA, Inc., agreed to sell or otherwise transfer to Santander Holdings USA, Inc., any of its affiliates or any other third party (other than BSPR) (i) all non-performing assets (along with all collateral and rights to collection related thereto) of BSPR (the “Non-Performing Assets Transfer”), and (ii) Santander Asset Management, LLC, a limited liability company organized under the laws of the Commonwealth of Puerto Rico and a direct wholly-owned subsidiary of Santander Bancorp. The acquisition of BSPR expands the Corporation’s presence in Puerto Rico, increases its operational scale and strengthens its competitiveness in retail, commercial, business banking, and residential lending. The acquisition also allowed the Corporation to increase its deposit base at a lower cost, which enhances FirstBank’s funding and risk profile. The Corporation accounted for the acquisition as a business combination in accordance with ASC 805. Accordingly, the Corporation recorded the assets and liabilities assumed, as of the date of the acquisition, at their respective fair values and allocated to goodwill the excess of the merger consideration over the fair value of the net assets acquired. The determination of fair value requires management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and subject to change. Fair value estimates related to the acquired assets and liabilities are subject to adjustment for up to one year after the closing date of the acquisition as additional information relative to the closing date fair values becomes available and such information is considered final, whichever is earlier. The following table summarizes the consideration paid and the preliminary estimated fair values of assets acquired and liabilities assumed of BSPR as of September 1, 2020 under the acquisition method of accounting: (In thousands) Total purchase price consideration (cash) $ 1,277,626 Fair value of assets acquired: Fair Value Cash and cash equivalents $ 1,684,252 Investment securities 1,167,225 Loans, net: Residential mortgage loans 807,637 Commercial mortgage loans 740,919 Commercial and Industrial loans 752,154 Consumer loans 214,206 Loans, net 2,514,916 Premises and equipment, net 12,499 Intangible assets 39,232 Other assets 144,008 Total assets and identifiable intangible assets acquired 5,562,132 Fair value of liabilities assumed: Deposits $ 4,194,940 Other liabilities 95,869 Total liabilities assumed 4,290,809 Fair value of net assets and identifiable intangible assets acquired 1,271,323 Goodwill $ 6,303 The application of the acquisition method of accounting resulted in goodwill of $ 6.3 million, a core deposit intangible of $ 35.4 million, and purchased credit card relationships of $ 3.8 million, which are included in the Corporation’s consolidated statement of financial condition. Goodwill recognized in this transaction is not deductible for income tax purposes. Refer to Note 14 – Goodwill, to the consolidated financial statements for additional information about goodwill and other intangibles recognized as part of the transaction. As of September 30, 2020, the purchase price remains subject to final adjustments and the fair value measurement remains preliminary due to the timing of the acquisition. The Corporation continues to review information relating to events or circumstances existing as of the acquisition date and expects to finalize its analysis of the acquired assets and assumed liabilities over the next few months, but not later than one year after acquisition. Fair Value of Identifiable Assets Acquired and Liabilities Assumed The methods used to determine the fair values of the significant identifiable assets and liabilities assumed are described below: Cash and cash equivalents - Cash and cash equivalents include cash and due from banks, and interest-earning deposits with banks and the Federal Reserve System. The Corporation determined that the fair values of financial instruments that are short-term or re-price frequently and that have little or no risk approximate the carrying values. Investment securities available for sale and held to maturity - The fair value of securities available for sale were based on observable inputs obtained from market transactions in similar securities. The fair value of held to maturity securities acquired in the BSPR acquisition, consisting of Puerto Rico municipal bonds, was determined based on the discounted cash flow method used for the valuation of loans described below. These held to maturity securities were identified as PCD debt securities at acquisition and had a fair value of $ 55.5 million and contractual balance of $ 67.1 million. The Corporation established an initial ACL for PCD debt securities of $ 1.3 million, which represents the discount embedded in the purchase price that is attributable to credit losses, through an adjustment to the acquired debt securities amortized cost and the ACL. Loans – The fair value of loans acquired in the BSPR acquisition was calculated using an income approach. Under this approach, fair value is measured by the present value of the net economic benefits to be received over the life of the loan. The fair value was estimated based on a discounted cash flow method under which the present value of the contractual cash flows was calculated based on certain valuation assumptions such as default rates, loss severity, and prepayment rates, consistent with the Corporation’s CECL methodology, and discounted using a market rate of return that accounts for both the time value of money and investment risk factors. The discount rate utilized to analyze fair value considered the cost of funds rate, capital charge, servicing costs, and liquidity premium, mostly based on industry standards. The Corporation segmented the loan portfolio into two groups: non-PCD loans and PCD loans. Then loans within each group were pooled based on similar characteristics, such as loan type ( i.e. , residential mortgage, commercial and industrial, and consumer loans), credit scores, loan-to-value, fixed or adjustable interest rates, and credit risk ratings. The Corporation valued commercial mortgage loans at the loan level. Non-PCD loans and PCD loans had a fair value of $ 1.8 billion and $ 753.0 million, respectively, as of the acquisition date and contractual balance of $ 1.8 billion and $ 786.0 million, respectively. In accordance with U.S. GAAP, there was no carryover of the ACL that had been previously recorded by BSPR. The Corporation recorded an ACL of $ 38.9 million for non-PCD loans (including unfunded commitments) through an increase to the provision for credit losses. The Corporation established an initial ACL for PCD loans of $ 28.7 million, which represents the discount embedded in the purchase price that is attributable to credit losses, through an adjustment to the acquired loan balance and the ACL. Core deposit intangible (“CDI”) - The Corporation determined the CDI on non-maturing deposits by evaluating the underlying characteristics of the deposit relationships, including customer attrition, deposit interest rates and maintenance costs, and costs of alternative funding using the discounted cash flow approach. Under this method, the value of the core deposit intangible was measured by the present value of the difference, or spread, between the ongoing cost of the acquired deposit base and the cost of the next best alternative source of funding, to be amortized using a straight-line method over a weighted average useful life of 5.7 years. Purchased credit card receivable intangible (“PCCR”) – PCCR is a measure of the value of credit card client relationships that were acquired in the business combination. The Corporation computed the fair value using a multi-period cash flow model, which it discounted using an appropriate risk-adjusted discount rate. This measure of fair value requires considerable judgments about future events, including customer retention and attrition estimates. The fair value is amortized using an accelerated method over a useful life of 3 years. Deposits - The fair values used for non-maturity deposits such as demand and savings deposits are, by definition, equal to the amount payable on demand at the reporting date. In determining the fair value of certificates of deposit, the cash flows of the contractual interest payments during the specific period of the certificates of deposit and scheduled principal payout were discounted to present value at market-based interest rates. The fair value is amortized over a weighted average useful life of 1.2 years based on the time deposits maturity buckets established in the valuation determination. The following table shows the amounts of revenues and net income included in 2020 results related to the operations of BSPR for the period after the acquisition: BSPR Results from September 1, 2020 to (In thousands) September 30, 2020 Net interest income $ 14,037 Non-interest income 1,975 Net loss (1) ( 22,256) Pro Forma Financial Information The following table presents the unaudited combined pro forma results as if the acquisition of BSPR had been completed on January 1, 2019 and includes the impact of amortizing and accreting certain estimated purchase accounting adjustments such as intangible assets as well as fair value adjustments to loans and deposits. These estimates are subject to change under the one-year remeasurement period. The pro forma information does not necessarily indicate the financial results of the combined companies had the companies actually been combined at the beginning of the period presented or the results that may be achieved in the future. The unaudited pro forma information also does not consider any potential impacts of potential revenue enhancements, anticipated cost savings and expense efficiencies, or asset dispositions, among other factors. Unaudited Pro Forma Results Nine-Month Period Ended Nine-Month Period Ended September 30, September 30, (In thousands) 2020 2019 Net interest income $ 544,286 $ 596,925 Non-interest income 102,242 97,430 Net income 96,643 181,487 Pro-forma earnings for the nine-month period ended September 30, 2020 were adjusted to exclude the $ 14.2 million and $ 2.0 million of merger and restructuring costs incurred by the Corporation and BSPR, respectively, in 2020. Pro-forma earnings for the nine-month period ended September 30, 2019 were adjusted to include these costs. Merger and Restructuring Costs Upon completion of the acquisition, the Corporation began to integrate and BSPR’s operations into FirstBank’s operations. Over the next several months, the Corporation expects to refine the integration process, which the Corporation expects to complete during the second quarter of 2021. Management is in the process of assessing personnel, technology systems, service contracts and other key factors to determine the most beneficial structure for the combined company. Certain decisions arising from these assessments may involve changes in information systems, cancellations of existing contracts and other actions. To the extent there are costs associated with these actions, the costs will be recognized based on the nature and timing of these integration actions. Most acquisition and restructuring costs are expensed, as incurred. The Corporation recognized cumulative acquisition expenses of $ 25.6 million through September 30, 2020, of which $ 14.2 million and $ 0.6 million was incurred during the nine-month period ended September 30, 2020 and 2019, respectively, and $ 10.8 million was incurred during the quarter ended December 31, 2019. Acquisition expenses were included in Merger and restructuring costs in the consolidated statements of income, and consisted primarily of legal fees, valuation services and other integration efforts. |
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE | 9 Months Ended |
Sep. 30, 2020 | |
Earnings Per Share [Abstract] | |
EARNINGS PER COMMON SHARE | NOTE 3 – EARNINGS PER COMMON SHARE The calculations of earnings per common share for the quarters and nine-month periods ended September 30, 2020 and 2019 are as follows: Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands, except per share information) Net income $ 28,613 $ 46,327 $ 52,135 $ 130,928 Less: Preferred stock dividends ( 669) ( 669) ( 2,007) ( 2,007) Net income attributable to common stockholders $ 27,944 $ 45,658 $ 50,128 $ 128,921 Weighted-Average Shares: Average common shares outstanding 216,922 216,690 216,876 216,569 Average potential dilutive common shares 793 537 657 484 Average common shares outstanding - assuming dilution 217,715 217,227 217,533 217,053 Earnings per common share: Basic $ 0.13 $ 0.21 $ 0.23 $ 0.60 Diluted $ 0.13 $ 0.21 $ 0.23 $ 0.59 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 the potential dilutive common shares are issued and outstanding and the proceeds from the exercise, in addition to the amount of compensation cost attributable to future services, are used to purchase common stock at the exercise date. 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 potential 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 | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
STOCK-BASED COMPENSATION | NOTE 4 – STOCK-BASED COMPENSATION On May 24, 2016, the Corporation’s stockholders approved the amendment and restatement of the First BanCorp. Omnibus Incentive Plan, as amended (the “Omnibus Plan”), 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 compensation incentives (the “awards”) through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, cash-based awards and other stock-based 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 September 30, 2020, 5,676,265 authorized shares of common stock were 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 restricted stock granted under the Omnibus Plan is typically subject to a vesting period. During the first nine months of 2020, the Corporation awarded to its independent directors 53,634 shares of restricted stock that are subject to one-year 851,673 shares of restricted stock to employees; fifty percent ( 50%) of those shares vest on the two-year anniversary of the grant date and the remaining 50% vest on the three-year anniversary of the grant date. Included in those 851,673 shares of restricted stock were 47,194 shares granted to retirement-eligible employees. The total expense determined for the restricted stock awarded to retirement-eligible employees was charged against earnings as of the grant date. During the first nine months of 2019, the Corporation awarded to its independent directors 51,841 shares of restricted stock that were subject to one-year 262,371 shares of restricted stock to employees; 50% of those shares vest on the two-year anniversary of the grant date and the remaining 50% vest on the three-year anniversary of the grant date. Included in those 262,371 shares of restricted stock were 13,308 shares granted to retirement-eligible employees. The fair value of the shares of restricted stock granted in the first nine months of 2020 and 2019 was based on the market price of the Corporation’s outstanding common stock on the date of the respective grant. The following table summarizes the restricted stock activity in the first nine months of 2020 under the Omnibus Plan: Nine-Month Period Ended September 30, 2020 Number of shares Weighted-Average of restricted Grant Date stock Fair Value Unvested shares outstanding at beginning of year 644,805 $ 8.51 Granted 905,307 4.15 Forfeited ( 3,086) 6.07 Vested ( 232,466) 7.23 Unvested shares outstanding as of September 30, 2020 1,314,560 $ 5.74 For the quarter and nine-month period ended September 30, 2020, the Corporation recognized $ 0.8 million and $ 2.4 million, respectively, of stock-based compensation expense related to restricted stock awards, compared to $ 0.7 million and $ 2.2 million for the same periods in 2019, respectively. As of September 30, 2020, there was $ 3.9 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 1.6 years as of September 30, 2020. Stock-based compensation accounting guidance requires the Corporation to reverse compensation expense for any awards that are forfeited due to employee or director turnover. Quarterly 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 result in a decrease in 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 result in an increase in the expense recognized in the financial statements. Performance Units Under the Omnibus Plan, the Corporation may award performance units to Omnibus Plan participants. During the first nine months of 2020, the Corporation granted 502,307 units to executives, with each unit representing the value of one share of the Corporation’s common stock. The performance units granted in 2020 are for the performance period beginning January 1, 2020 and ending on December 31, 2022 and are subject to three-year The performance units will vest based on the achievement of a pre-established tangible book value per share target as of December 31, 2022. All of 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 at 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. During the first nine months of 2019, the Corporation awarded 200,053 performance units to executives. The performance units granted in 2019 are for the performance period beginning January 1, 2019 and ending on December 31, 2021 and are subject to three-year The following table summarizes the performance units activity in the first nine months of 2020 under the Omnibus Plan: Nine-Month Period Ended (Number of units) September 30, 2020 Performance units at beginning of year 504,461 Additions 502,307 Performance units at September 30, 2020 1,006,768 The fair values of the performance units awarded in the first nine months of 2020 and 2019 were based on the market price of the Corporation’s outstanding common stock on the respective date of the grant. For the quarter and nine-month period ended September 30, 2020, the Corporation recognized $ 0.5 million and $ 1.3 million, respectively, of stock-based compensation expense related to performance units, compared to $ 0.3 million and $ 0.8 million for the same periods in 2019, respectively. As of September 30, 2020, there was $ 3.1 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. Other awards Under the Omnibus Plan, the Corporation may grant shares of unrestricted stock to plan participants. During the third quarter of 2020, the Corporation granted to its independent directors 19,157 shares of unrestricted stock that were fully vested at the time of the grant date. For the quarter ended September 30, 2020, the Corporation recognized $ 0.1 million of stock-based compensation expense related to unrestricted stock awards. There were no grants of unrestricted stock in 2019. Shares withheld During the first nine months of 2020, the Corporation withheld 51,814 shares (first nine months of 2019 – 176,015 shares) of the restricted stock 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 treats shares withheld for tax purposes as common stock repurchases. |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 9 Months Ended |
Sep. 30, 2020 | |
Debt and Equity Securities [Abstract] | |
Investments In Debt And Marketable Equity Securities And Certain Trading Assets Disclosure | NOTE 5 – INVESTMENT SECURITIES Investment Securities Available for Sale The amortized cost, gross unrealized gains and losses recorded in OCI, allowance for credit losses, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of September 30, 2020 were as follows: September 30, 2020 Amortized cost Allowance for Credit Losses Fair value Gross Unrealized Weighted- gains losses average yield% (Dollars in thousands) U.S. Treasury securities: Due within one year $ 7,493 $ 38 $ - $ - $ 7,531 1.65 U.S. government-sponsored agencies' obligations: Due within one year 34,442 402 - - 34,844 1.82 After 1 to 5 years 544,175 813 958 - 544,030 0.80 After 5 to 10 years 117,940 671 181 - 118,430 1.41 After 10 years 21,820 - 144 - 21,676 0.65 Puerto Rico government obligations: After 5 to 10 years 4,000 16 - - 4,016 5.12 After 10 years (1) 4,043 - 828 308 2,907 6.97 United States and Puerto Rico government obligations 733,913 1,940 2,111 308 733,434 1.01 MBS: Freddie Mac (“FHLMC”) certificates: Due within one year 83 8 - - 91 4.86 After 5 to 10 years 66,337 2,939 - - 69,276 2.15 After 10 years 579,684 12,331 139 - 591,876 1.73 646,104 15,278 139 - 661,243 1.77 Ginnie Mae (“GNMA”) certificates: Due within one year 2 - - - 2 2.89 After 1 to 5 years 29,736 1,141 - - 30,877 2.92 After 5 to 10 years 44,804 121 107 - 44,818 0.61 After 10 years 690,171 13,154 330 - 702,995 1.52 764,713 14,416 437 - 778,692 1.52 Fannie Mae (“FNMA”) certificates: After 1 to 5 years 24,823 1,159 - - 25,982 2.80 After 5 to 10 years 114,332 5,882 - - 120,214 2.12 After 10 years 709,800 19,848 399 - 729,249 1.95 848,955 26,889 399 - 875,445 2.00 Collateralized mortgage obligations issued or guaranteed by the FHLMC, ` FNMA and GNMA: After 1 to 5 years 581 - 1 - 580 0.82 After 5 to 10 years 20,055 123 - - 20,178 0.80 After 10 years 214,437 1,375 224 - 215,588 1.87 235,073 1,498 225 - 236,346 1.77 Private label: After 10 years 13,547 - 3,630 1,078 8,839 2.22 Total MBS 2,508,392 58,081 4,830 1,078 2,560,565 1.77 Other After 1 to 5 years 650 - - - 650 2.94 Total investment securities available for sale $ 3,242,955 $ 60,021 $ 6,941 $ 1,386 $ 3,294,649 1.60 Consist 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. The amortized cost, gross unrealized gains and losses recorded in OCI, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of December 31, 2019 were as follows: December 31, 2019 Amortized cost Gross Unrealized Fair value Weighted- gains losses average yield% (Dollars in thousands) U.S. Treasury securities: After 1 to 5 years $ 7,478 $ 1 $ - $ 7,479 1.65 U.S. government-sponsored agencies' obligations: Due within one year 93,299 103 106 93,296 1.67 After 1 to 5 years 142,513 676 52 143,137 2.12 After 5 to 10 years 63,764 165 150 63,779 2.33 After 10 years 24,624 - 116 24,508 2.00 Puerto Rico government obligations: After 5 to 10 years 4,000 348 - 4,348 5.12 After 10 years (1) 4,166 - 1,192 2,974 6.97 United States and Puerto Rico government obligations 339,844 1,293 1,616 339,521 2.11 MBS: FHLMC certificates: After 5 to 10 years 81,418 589 228 81,779 2.16 After 10 years 424,316 3,873 758 427,431 2.50 505,734 4,462 986 509,210 2.44 GNMA certificates: After 1 to 5 years 4,357 45 - 4,402 3.26 After 5 to 10 years 42,303 607 - 42,910 2.77 After 10 years 258,944 7,126 500 265,570 3.03 305,604 7,778 500 312,882 3.00 FNMA certificates: After 1 to 5 years 19,779 415 3 20,191 2.79 After 5 to 10 years 140,599 1,257 641 141,215 2.14 After 10 years 700,213 9,006 1,208 708,011 2.58 860,591 10,678 1,852 869,417 2.51 Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA: After 1 to 5 years 608 - 1 607 2.43 After 10 years 80,130 362 220 80,272 2.76 80,738 362 221 80,879 2.75 Private label: After 10 years 15,997 - 4,881 11,116 3.90 Total MBS 1,768,664 23,280 8,440 1,783,504 2.60 Other After 1 to 5 years 500 - - 500 2.95 Total investment securities available for sale $ 2,109,008 $ 24,573 $ 10,056 $ 2,123,525 2.52 Consist 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. Maturities of MBS are based on the period of final contractual maturity. Expected maturities of investments might differ from contractual maturities because they may be subject to prepayments and/or call options. The weighted-average yield on investment securities available for sale is based on amortized cost and, therefore, does not give effect to changes in fair value. The net unrealized gain or loss on securities available for sale is presented as part of OCI. The following tables show the Corporation’s available-for-sale investment securities fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of September 30, 2020 and December 31, 2019. The tables also include debt securities for which an ACL was recorded as of September 30, 2020 or a credit loss was charged against the amortized cost basis of the debt security prior to the adoption of ASC 326 on January 1, 2020. As of September 30, 2020 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: Puerto Rico-government obligations $ - $ - $ 2,907 $ 828 $ 2,907 $ 828 U.S. Treasury and U.S. government agenciesʼ obligations 242,648 1,131 20,985 152 263,633 1,283 MBS: FNMA 147,286 399 - - 147,286 399 FHLMC 96,439 139 - - 96,439 139 GNMA 122,052 437 - - 122,052 437 Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA 80,135 139 10,023 86 90,158 225 Private label MBS - - 8,839 3,630 8,839 3,630 $ 688,560 $ 2,245 $ 42,754 $ 4,696 $ 731,314 $ 6,941 As of December 31, 2019 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: Puerto Rico-government obligations $ - $ - $ 2,974 $ 1,192 $ 2,974 $ 1,192 U.S. Treasury and U.S. government agenciesʼ obligations 45,073 172 99,764 252 144,837 424 MBS: FNMA 58,668 499 173,708 1,353 232,376 1,852 FHLMC 74,134 270 63,864 716 137,998 986 GNMA 79,145 472 7,203 28 86,348 500 Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA 21,873 221 - - 21,873 221 Private label MBS - - 11,116 4,881 11,116 4,881 $ 278,893 $ 1,634 $ 358,629 $ 8,422 $ 637,522 $ 10,056 During the first nine months of 2020, proceeds from sales of available-for-sale investment securities amounted to $ 1.1 billion, including gross realized gains of $13.5 million and gross unrealized losses of $0.1 million. The $ 13.4 million net gain on tax-exempt securities or realized at the tax-exempt international banking entity subsidiary, had no effect in the income tax expense recorded for the first nine months of 2020. Assessment for Credit Losses Debt securities issued by U.S. government agencies, U.S. GSEs, and the U.S. Treasury, including notes and MBS, accounted for approximately 99% of the total available-for-sale portfolio as of September 30, 2020, and the Corporation expects no credit losses, 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 September 30, 2020. 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 considered the following factors in determining whether a credit loss existed and the period over which the debt security was expected to recover: Any adverse change to the credit conditions and liquidity of the issuer, taking into consideration the latest information available about the financial condition of the issuer, credit ratings, the failure of the issuer to make scheduled principal or interest payments, recent legislation and government actions affecting the issuer’s industry; and actions taken by the issuer to deal with the present economic climate; Changes in the near-term prospects of the underlying collateral for a security, if any, such as changes in default rates, loss severity given default, and significant changes in prepayment assumptions; and The level of cash flows generated from the underlying collateral, if any, supporting the principal and interest payments of the debt securities. The Corporation’s available-for-sale MBS portfolio included private label MBS with a fair value of $ 8.8 million, which had unrealized losses of approximately $ 4.7 million as of September 30, 2020 of which $1.1 million is due to credit deterioration and was charged against earnings through an 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 are 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 September 30, 2020, the Corporation did not have the intent to sell these securities and determined that it was 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 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 and the housing price index. Under this approach, all future cash flows (interest and principal) from the underlying collateral loans, adjusted by prepayments and the PDs and LGDs derived from the above-described methodology, were discounted at the effective interest rate as of the reporting date. Significant assumptions in the valuation of the private label MBS were as follows : As of As of September 30, 2020 December 31, 2019 Weighted Range Weighted Range Average Minimum Maximum Average Minimum Maximum Discount rate 12.4% 12.4% 12.4% 13.7% 13.7% 13.7% Prepayment rate 10.9% 2.6% 13.7% 7.9% 6.8% 10.3% Projected Cumulative Loss Rate 11.8% 2.4% 26.3% 2.8% 0.0% 7.4% The Corporation evaluates if a credit loss exists, primarily by monitoring adverse variances in the present value of expected cash flows. As of September 30, 2020, the ACL for these private label MBS was $1.1 million, consisting of a $1.4 million provision recorded in the first half of 2020 and charge-offs of $0.2 million taken against the reserve in the third quarter of 2020. The ACL established was based on a decline in the present value of expected cash flows taking into consideration the effect of a deterioration in forecasted economic conditions due to the COVID-19 pandemic. As of September 30, 2020, the Corporation’s available-for-sale investment securities portfolio also included bonds of the PRHFA with a fair value of $ 6.9 million, which had unrealized net losses of approximately $ 1.1 million. These bonds include a residential pass-through MBS issued by the PRHFA that is collateralized by certain second mortgages with a fair value of $ 2.9 million, which had an unrealized loss of $ 1.1 million as of September 30, 2020, of which $ 0.3 million was due to credit deterioration and was charged against the provision for credit losses. 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 payment 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. Based on the quarterly analysis performed, in the second quarter of 2020, the Corporation recorded charges to the provision for credit losses of $0.3 million for this residential pass-through MBS. The Corporation determined the ACL on this instrument based on a risk-adjusted discounted cash flow methodology that considers the structure and terms of the underlying collateral. 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, all future cash flows (interest and principal) from the underlying collateral loans, adjusted by prepayments and the PDs and LGDs derived from the above-described methodology, were discounted at the internal rate of return 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 September 30, 2020, 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. The following table presents a rollforward by major security type for the quarter and nine-month period ended September 30, 2020 of the ACL on debt securities available-for-sale: Quarter Ended September 30, 2020 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ 1,323 $ 308 $ 1,631 Additions for securities for which no previous expected credit losses were recognized (provision for credit losses) - - - Addition for securities for which previous expected credit losses were recognized (provision for credit losses) - - - Net charge-offs ( 245) - ( 245) $ 1,078 $ 308 $ 1,386 Nine-Month Period Ended September 30, 2020 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ - $ - $ - Additions for securities for which no previous expected credit losses were recognized (provision for credit losses) - 308 308 Addition for securities for which previous expected credit losses were recognized (provision for credit losses) 1,323 - 1,323 Net charge-offs ( 245) - ( 245) $ 1,078 $ 308 $ 1,386 During the third quarter and first nine months of 2019, the Corporation recorded OTTI losses on available-for-sale debt securities as follows: Quarter Ended Nine-Month Period Ended September 30, September 30, 2019 2019 (In thousands) Total OTTI losses $ ( 557) $ ( 557) Portion of OTTI recognized in OCI 60 60 Net impairment losses recognized in earnings (1) $ ( 497) $ ( 497) (1) Prior to the adoption of CECL on January 1, 2020, credit-related impairment recognized in earnings was reported as part of net gain (loss) on investment securities in the consolidated statements of income rather than as a provision for credit losses. Investments Held to Maturity The amortized cost, gross unrecognized gains and losses, estimated fair value, ACL, weighted-average yield and contractual maturities of investment securities held to maturity as of September 30, 2020 and December 31, 2019 were as follows: September 30, 2020 Amortized cost Fair value Allowance for Credit Losses Gross Unrecognized (Dollars in thousands) Gains Losses Weighted- average yield% Puerto Rico municipal bonds: Due within one year $ 550 $ - $ 26 $ 524 $ 133 5.41 After 1 to 5 years 17,203 - 611 16,592 375 3.11 After 5 to 10 years 88,224 - 5,387 82,837 3,773 4.68 After 10 years 83,179 - 16,158 67,021 5,895 3.62 Total investment securities held to maturity $ 189,156 $ - $ 22,182 $ 166,974 $ 10,176 4.07 December 31, 2019 Amortized cost Fair value Gross Unrecognized (Dollars in thousands) Gains Losses Weighted- average yield% Puerto Rico municipal bonds: Due within one year $ 321 $ - $ 6 $ 315 5.84 After 1 to 5 years 8,264 - 736 7,528 5.18 After 5 to 10 years 56,511 - 8,646 47,865 5.77 After 10 years 73,579 - 18,913 54,666 5.44 Total investment securities held to maturity $ 138,675 $ - $ 28,301 $ 110,374 5.56 The following tables show the Corporation’s held-to-maturity investments’ fair value and gross unrecognized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrecognized loss position, as of September 30, 2020 and December 31, 2019, including debt securities for which an ACL was recorded as of September 30, 2020: As of September 30, 2020 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 $ 55,643 $ 1,269 $ 111,331 $ 20,913 $ 166,974 $ 22,182 As of December 31, 2019 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 $ - $ - $ 110,374 $ 28,301 $ 110,374 $ 28,301 The Corporation determines the ACL of Puerto Rico municipal bonds 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 – Basis of Presentation and Significant Accounting Policies, above. The Corporation performs periodic credit quality reviews on these issuers. All of the Puerto Rico municipal bonds were current as to scheduled contractual payments as of September 30, 2020. Upon adoption of CECL on January 1, 2020, the Corporation recognized an ACL for held-to-maturity securities of approximately $8.1 million as a cumulative effect adjustment from a change in accounting policy, with a corresponding decrease in retained earnings, net of applicable income taxes. The Puerto Rico municipal bonds had an ACL of $10.2 million as of September 30, 2020, including the $8.1 million effect of adopting CECL, a $1.3 million initial ACL established for PCD debt securities with a fair value of $55.5 million acquired in the BSPR acquisition, and a $0.8 million charge to the provision recorded in the first nine months of 2020 primarily reflecting the effect of the deteriorating economic outlook due to the COVID-19 pandemic on the macroeconomic variables used for the determination of the PD and LGD used in the model. The following table presents the activity in the ACL for debt securities held to maturity by major security type for the quarter and nine-month period ended September 30, 2020: Puerto Rico Municipal Bonds Quarter Ended Nine-Month Period Ended September 30, 2020 September 30, 2020 (In thousands) Beginning Balance $ 9,268 $ - Impact of adopting ASC 326 - 8,134 Initial allowance on PCD debt securities 1,269 1,269 Provision for credit losses ( 361) 773 $ 10,176 $ 10,176 PCD Debt Securities Upon the adoption of ASC 326, acquired held-to-maturity debt securities classified as PCD are recorded at an initial amortized cost, which is comprised of the purchase price of the debt securities (or initial fair value) and the initial ACL determined for the debt securities, which represents the fair value credit discount, which is added to the purchase price of the debt securities, and any resulting premium or discount related to factors other than credit. Upon the adoption of ASC 326, acquired loans classified as PCD are recorded at an initial amortized cost, which is comprised of the purchase price of the loans (or initial fair value) and the initial ACL determined for the loans, which represents the fair value credit discount, and any resulting premium or discount related to factors other than credit. The following table reconciles the difference between the purchase price of the PCD held-to-maturity debt securities acquired in the BSPR acquisition and the par value: (In thousands) Puerto Rico Municipal Bonds Purchase price of debt securities at acquisition (initial fair value) $ 55,532 Allowance for credit losses at acquisition 1,269 Non-credit discount at acquisition 10,281 Par value of acquired debt securities at acquisition $ 67,082 During the second quarter of 2019, the oversight board established by PROMESA announced the designation of Puerto Rico’s 78 municipalities as covered instrumentalities under PROMESA. Meanwhile, the latest fiscal plan certified by the PROMESA oversight board did not contemplate a restructuring of the debt of Puerto Rico’s municipalities, but the plan did call for the gradual elimination of budgetary subsidies provided to municipalities by the central government. Furthermore, municipalities are also likely to 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 problems, or measures included in fiscal plans of other government entities, such as the fiscal plans of the Government Development Bank for Puerto Rico (“GDB”) and the Puerto Rico Electric Power Authority (“PREPA”), and, more recently, by the effect of the COVID-19 pandemic on the Puerto Rico and global economy. Given the uncertain effect that the negative 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 may have 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 September 30, 2020 and December 31, 2019, the Corporation had no outstanding securities held to maturity that were classified as cash and cash equivalents. Credit Quality Indicators: As mentioned in Note 1 – Basis of Presentation and Significant Accounting Policies, above, the held-to-maturity investment securities portfolio consisted of financing arrangements with Puerto Rico municipalities issued in bond form, which 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 Puerto Rico municipal bonds held-to-maturity through the use of internal credit-risk ratings, which are generally updated on a quarterly basis. The Corporation considers a debt security held-to-maturity 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. The asset categories are defined below: Pass – Assets classified as pass have a well-defined primary source of repayment, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and strong capitalization. Special Mention – Special Mention assets have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Corporation’s credit position at some future date. Special Mention assets are not adversely classified and do not expose the Corporation to sufficient risk to warrant adverse classification. Substandard – Substandard assets are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful – Doubtful classifications have all of the weaknesses inherent in those classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently known facts, conditions and values. A Doubtful classification may be appropriate in cases where significant risk exposures are perceived, but loss cannot be determined because of specific reasonable pending factors, which may strengthen the credit in the near term. Loss – Assets classified Loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this asset even though partial recovery may occur in the future. There is little or no prospect for near term improvement and no realistic strengthening action of significance pending. The Corporation periodically reviews its asset classifications 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 securities. This group evaluates the credit risk profile of portfolios, including the assessment of the risk rating representative of the current credit quality of the assets, and the evaluation of collateral documentation, if applicable. 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. The following table summarizes the amortized cost of debt securities held-to-maturity as of September 30, 2020 and December 31, 2019, aggregated by credit quality indicator: Held to Maturity Puerto Rico Municipal Bonds September 30, December 31 (In thousands) 2020 2019 Risk Ratings: Pass $ 189,156 $ 138,675 Criticized: Special Mention - - Substandard - - Doubtful - - Loss - - Total $ 189,156 $ 138,675 No held-to-maturity debt securities were on nonaccrual status, 90 days past due and still accruing, or past due as of September 30, 2020 and December 31, 2019. A security is considered to be past due once it is 30 days contractually past due under the terms of the agreement. |
EQUITY SECURITIES
EQUITY SECURITIES | 9 Months Ended |
Sep. 30, 2020 | |
Investments All Other Investments [Abstract] | |
OTHER EQUITY SECURITIES | NOTE 6 – EQUITY SECURITIES Institutions that are members of the FHLB system are required to maintain a minimum investment in FHLB stock. Such minimum investment is calculated as a percentage of aggregate outstanding mortgages, and the FHLB requires an additional investment that is calculated as a percentage of total FHLB advances, letters of credit, and the collateralized portion of outstanding interest-rate swaps. The stock is capital stock issued at $ 100 par value. Both stock and cash dividends may be received on FHLB stock. As of September 30, 2020 and December 31, 2019, the Corporation had investments in FHLB stock carried at a cost of $ 33.5 million and $ 34.1 million, respectively. Dividend income from FHLB stock for the quarter and nine-month period ended September 30, 2020 was $ 0.4 million and $ 1.5 million, respectively, compared to $ 0.7 million and $ 2.0 million for the quarter and nine-month period ended September 30, 2019, respectively. The FHLB of New York issued the shares of FHLB stock owned by the Corporation. The FHLB of New York is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned congressionally chartered banks. The FHLBs are all privately capitalized and operated by their member stockholders. The system is supervised by the Federal Housing Finance Agency, which requires that the FHLBs operate in a financially safe and sound manner, remain adequately capitalized and able to raise funds in the capital markets, and carry out their housing finance mission. As of September 30, 2020 and December 31, 2019, the Corporation owned other equity securities with a readily determinable fair value of approximately $ 1.5 million and $ 1.4 million, respectively. During the quarter and nine-month period ended September 30, 2020, the Corporation recognized a marked-to-market loss of $3 thousand and a marked-to-market gain of $ 40 thousand, respectively, associated with these securities, which recorded as part of other non-interest income in the consolidated statements of income as compared with a $ 2 10 thousand marked-to-market gain for the nine-month period ended September 30, 2019. In addition, the Corporation had other equity securities that do not have a readily-determinable fair value. The carrying value of such securities as of September 30, 2020 and December 31, 2019 was $ 4.3 million and $ 2.8 million, respectively. |
LOANS HELD FOR INVESTMENT
LOANS HELD FOR INVESTMENT | 9 Months Ended |
Sep. 30, 2020 | |
Receivables [Abstract] | |
LOANS HELD FOR INVESTMENT [Text Block] | NOTE 7 – LOANS HELD FOR INVESTMENT The following provides information about the loan portfolio held for investment as of the indicated dates: As of September 30, As of December 31, 2020 2019 (In thousands) Residential mortgage loans, mainly secured by first mortgages $ 3,636,713 $ 2,933,773 Construction loans 191,356 111,317 Commercial mortgage loans 2,220,277 1,444,586 Commercial and Industrial loans (1) (2) 3,226,843 2,230,876 Consumer loans 2,572,086 2,281,653 Loans held for investment (3)(4) 11,847,275 9,002,205 Allowance for credit losses on loans and finance leases ( 384,718) ( 155,139) Loans held for investment, net $ 11,462,557 $ 8,847,066 As of September 30, 2020, includes $ 453.4 million of SBA PPP loans. As of September 30, 2020 and December 31, 2019, includes $ 1.0 billion and $ 719.0 million, respectively, of commercial loans that were secured by real estate but are not dependent upon the real estate for repayment. Refer to Note 2 – Business Combination, above, for details about the loans acquired in the BSPR acquisition. Includes accretable fair value net purchase discounts of $ 51.8 million and $ 15.1 million as of September 30, 2020 and December 31, 2019, respectively. The following tables present by portfolio classes the amortized cost basis of loans on nonaccrual status and loans past due 90 days or more and still accruing as of September 30, 2020 and December 31, 2019 and the interest income recognized on nonaccrual loans for the quarter and nine-month period ended September 30, 2020: As of September 30, 2020 Quarter Ended September 30, 2020 Nine-Month Period Ended September 30, 2020 As of December 31, 2019 Puerto Rico and Virgin Islands region Nonaccrual Loans with No ACL Nonaccrual Loans with ACL Total Nonaccrual Loans (2) Loans Past Due 90 days or more and Still Accruing (3) Interest Income Recognized on Nonaccrual Loans Interest Income Recognized on Nonaccrual Loans Total Nonaccrual Loans Loans Past Due 90 days or more and Still Accruing (3) (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA\VA government-guaranteed $ - $ - $ - $ 110,882 $ - $ - $ - $ 81,011 Conventional residential mortgage loans 9,697 98,600 108,297 40,595 269 835 108,117 40,208 Construction loans 956 12,134 13,090 - 19 61 9,782 - Commercial mortgage loans 11,437 18,214 29,651 3,328 35 142 40,076 2,222 Commercial and Industrial loans 6,445 13,444 19,889 1,014 24 67 18,458 7,061 Consumer Loans: Auto loans - 9,071 9,071 - 17 138 12,057 - Finance leases - 879 879 - 2 23 1,354 - Personal loans - 1,445 1,445 - 8 36 1,523 - Credit cards - - - 1,340 - - - 4,411 Other consumer loans - 3,003 3,003 - - 5 5,016 - Total loans held for investment (1) $ 28,535 $ 156,790 $ 185,325 $ 157,159 $ 374 $ 1,307 $ 196,383 $ 134,913 Nonaccrual loans exclude $ 390.1 million and $ 388.4 million of TDR loans that were in compliance with modified terms and in accrual status as of September 30, 2020 and December 31, 2019, respectively. Excludes PCD loans previously accounted for under ASC Subtopic 310-30 for which the Corporation made the accounting policy election of maintaining pools of loans accounted for under ASC Subtopic 310-30 as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. These loans accrete interest income based on the effective interest rate of the loan pools determined at the time of adoption of ASC 326 and 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 amortized cost of such loans as of September 30, 2020 and December 31, 2019 was $ 133.2 million and $ 136.7 million, respectively. These include loans rebooked, which were previously pooled into GNMA securities amounting to $ 17.7 million and $ 35.3 million as of September 30, 2020 and December 31, 2019, respectively. 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. During the third quarter and first nine months of 2020, the Corporation repurchased, pursuant to the aforementioned repurchase option $52.0 million and $55.0 million, respectively, of loans previously sold to GNMA. As of September 30, 2020 Quarter Ended September 30, 2020 Nine-Month Period Ended September 30, 2020 As of December 31, 2019 Florida region Nonaccrual Loans with No ACL Nonaccrual Loans with ACL Total Nonaccrual Loans Loans Past Due 90 days or more and Still Accruing Interest Income Recognized on Nonaccrual Loans Interest Income Recognized on Nonaccrual Loans Total Nonaccrual Loans Loans Past Due 90 days or more and Still Accruing (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA\VA government-guaranteed $ - $ - $ - $ 250 $ - $ - $ - $ 129 Conventional residential mortgage loans 190 14,310 14,500 - 19 134 13,291 - Construction loans - - - - - - - - Commercial mortgage loans - - - - - - - - Commercial and Industrial loans 247 746 993 - 19 52 315 - Consumer Loans: Auto loans - - - - - - 163 - Finance leases - - - - - - - - Personal loans - - - - - - 5 - Credit cards - - - - - - - - Other consumer loans - 472 472 1 - 4 511 - Total loans held for investment (1) $ 437 $ 15,528 $ 15,965 $ 251 $ 38 $ 190 $ 14,285 $ 129 Nonaccrual loans exclude $ 9.5 million and $ 9.9 million of TDR loans that were in compliance with modified terms and in accrual status as of September 30, 2020 and December 31, 2019, respectively. As of September 30, 2020 Quarter Ended September 30, 2020 Nine-Month Period Ended September 30, 2020 As of December 31, 2019 Total Nonaccrual Loans with No ACL Nonaccrual Loans with ACL Total Nonaccrual Loans (2) Loans Past Due 90 days or more and Still Accruing (3) Interest Income Recognized on Nonaccrual Loans Interest Income Recognized on Nonaccrual Loans Total Nonaccrual Loans Loans Past Due 90 days or more and Still Accruing (3) (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA\VA government-guaranteed $ - $ - $ - $ 111,132 $ - $ - $ - $ 81,140 Conventional residential mortgage loans 9,887 112,910 122,797 40,595 288 969 121,408 40,208 Construction loans 956 12,134 13,090 - 19 61 9,782 - Commercial mortgage loans 11,437 18,214 29,651 3,328 35 142 40,076 2,222 Commercial and Industrial loans 6,692 14,190 20,882 1,014 43 119 18,773 7,061 Consumer Loans: Auto loans - 9,071 9,071 - 17 138 12,220 - Finance leases - 879 879 - 2 23 1,354 - Personal loans - 1,445 1,445 - 8 36 1,528 - Credit cards - - - 1,340 - - - 4,411 Other consumer loans - 3,475 3,475 1 - 9 5,527 - Total loans held for investment (1) $ 28,972 $ 172,318 $ 201,290 $ 157,410 $ 412 $ 1,497 $ 210,668 $ 135,042 Nonaccrual loans exclude $ 399.7 million and $ 398.3 million of TDR loans that were in compliance with modified terms and in accrual status as of September 30, 2020 and December 31, 2019, respectively. Excludes PCD loans previously accounted for under ASC Subtopic 310-30 for which the Corporation made the accounting policy election of maintaining pools of loans accounted for under ASC Subtopic 310-30 as “units of account” both at the time of adoption of ASC 326 and on an ongoing basis for credit loss measurement. These loans accrete interest income based on the effective interest rate of the loan pools determined at the time of adoption of ASC 326 and 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 amortized cost of such loans as of September 30, 2020 and December 31, 2019 was $ 133.2 million and $ 136.7 million, respectively. These include loans rebooked, which were previously pooled into GNMA securities amounting to $ 17.7 million and $ 35.3 million as of September 30, 2020 and December 31, 2019, respectively. 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. During the third quarter and first nine months of 2020, the Corporation repurchased, pursuant to the aforementioned repurchase option $52.0 million and $55.0 million, respectively, of loans previously sold to GNMA. As of September 30, 2020, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $ 177.8 million, including $ 60.4 million of loans insured by the FHA or guaranteed by the VA, and $ 18.9 million of PCD loans acquired prior to the adoption, on January 1, 2020, of ASC 326 and for which the Corporation made the accounting policy election of maintaining pools of loans previously accounted for under ASC 310-30 as “units of account.” 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. Judicial states ( i.e ., Puerto Rico, Florida and the USVI) require the foreclosure to be processed through the state’s court while foreclosure in non-judicial states ( i.e., the BVI) is processed without court intervention. Foreclosure timelines vary according to local jurisdiction law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediations, bankruptcy, court delays and title issues . The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of September 30, 2020 is as follows: As of September 30, 2020 Puerto Rico and Virgin Islands region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) (3) (4) $ - $ 3,448 $ 110,882 $ 114,330 $ 47,296 $ 161,626 Conventional residential mortgage loans (2) (4) - 40,833 148,892 189,725 2,749,008 2,938,733 Commercial loans: Construction loans (4) 592 1,797 13,090 15,479 54,527 70,006 Commercial mortgage loans (4) 973 6,426 32,979 40,378 1,793,903 1,834,281 Commercial and Industrial loans 11,445 844 20,903 33,192 2,254,403 2,287,595 Consumer loans: Auto loans 14,224 2,784 9,071 26,079 1,198,284 1,224,363 Finance leases 5,528 1,608 879 8,015 450,366 458,381 Personal loans 3,556 2,426 1,445 7,427 380,133 387,560 Credit cards 1,085 810 1,340 3,235 324,414 327,649 Other consumer loans 1,183 1,134 3,003 5,320 138,687 144,007 Total loans held for investment $ 38,586 $ 62,110 $ 342,484 $ 443,180 $ 9,391,021 $ 9,834,201 Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more ( i.e ., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days. 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 $ 54.1 million of residential mortgage loans insured by the FHA that were over 15 months delinquent. As of September 30, 2020, includes $ 17.7 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans. 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, commercial mortgage loans, and construction loans past due 30-59 days as of September 30, 2020 amounted to $ 6.1 million, $ 96.6 million, $ 6.7 million, and $ 0.5 million, respectively. As of September 30, 2020 Florida region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) $ - $ - $ 250 $ 250 $ 926 $ 1,176 Conventional residential mortgage loans (3) - 262 14,500 14,762 520,416 535,178 Commercial loans: Construction loans 4,320 - - 4,320 117,030 121,350 Commercial mortgage loans 1,195 354 - 1,549 384,447 385,996 Commercial and Industrial loans 1,535 644 993 3,172 936,076 939,248 Consumer loans: Auto loans 600 576 - 1,176 20,341 21,517 Finance leases - - - - - - Personal loans - - - - 133 133 Credit cards - - - - - - Other consumer loans 196 - 473 669 7,807 8,476 Total loans held for investment $ 7,846 $ 1,836 $ 16,216 $ 25,898 $ 1,987,176 $ 2,013,074 Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more ( i.e ., FHA/VA guaranteed loans). 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. No residential mortgage loans insured by the FHA in the Florida region were over 15 months delinquent as of September 30, 2020. 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 as of September 30, 2020 amounted to $0.2 million, $ 14.4 million, and $1.6 million, respectively. As of September 30, 2020 Total 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) (3) (4) $ - $ 3,448 $ 111,132 $ 114,580 $ 48,222 $ 162,802 Conventional residential mortgage loans (2) (4) - 41,095 163,392 204,487 3,269,424 3,473,911 Commercial loans: Construction loans (4) 4,912 1,797 13,090 19,799 171,557 191,356 Commercial mortgage loans (4) 2,168 6,780 32,979 41,927 2,178,350 2,220,277 Commercial and Industrial loans 12,980 1,488 21,896 36,364 3,190,479 3,226,843 Consumer loans: Auto loans 14,824 3,360 9,071 27,255 1,218,625 1,245,880 Finance leases 5,528 1,608 879 8,015 450,366 458,381 Personal loans 3,556 2,426 1,445 7,427 380,266 387,693 Credit cards 1,085 810 1,340 3,235 324,414 327,649 Other consumer loans 1,379 1,134 3,476 5,989 146,494 152,483 Total loans held for investment $ 46,432 $ 63,946 $ 358,700 $ 469,078 $ 11,378,197 $ 11,847,275 Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more ( i.e ., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days. 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 $ 54.1 million of residential mortgage loans insured by the FHA that were over 15 months delinquent. As of September 30, 2020, includes $ 17.7 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans. 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, commercial mortgage loans, and construction loans past due 30-59 days as of September 30, 2020 amounted to $ 6.3 million, $ 111.0 million, $ 8.3 million, and $ 0.5 million, respectively. The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of December 31, 2019 is as follows: As of December 31, 2019 Puerto Rico and Virgin Islands region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) (3) (4) $ - $ 2,068 $ 81,011 $ 83,079 $ 39,350 $ 122,429 Conventional residential mortgage loans (2) (4) - 83,308 148,325 231,633 2,013,525 2,245,158 Commercial loans: Construction loans (4) - 105 9,782 9,887 38,359 48,246 Commercial mortgage loans (4) - 2,681 42,298 44,979 1,034,921 1,079,900 Commercial and Industrial loans 1,454 105 25,519 27,078 1,364,335 1,391,413 Consumer loans: Auto loans 35,163 8,267 12,057 55,487 1,048,873 1,104,360 Finance leases 6,501 1,402 1,354 9,257 405,275 414,532 Personal loans 4,008 2,084 1,523 7,615 266,478 274,093 Credit cards 2,896 2,096 4,411 9,403 282,887 292,290 Other consumer loans 3,870 1,575 5,016 10,461 145,395 155,856 Total loans held for investment $ 53,892 $ 103,691 $ 331,296 $ 488,879 $ 6,639,398 $ 7,128,277 Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more ( i.e ., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days. 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 $ 37.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent. As of December 31, 2019, includes $ 35.6 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans. 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, commercial mortgage loans, and construction loans past due 30-59 days as of December 31, 2019 amounted to $ 6.7 million, $ 110.5 million, $ 6.0 million, and $ 0.1 million respectively. As of December 31, 2019 Florida region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) (3) $ - $ - $ 129 $ 129 $ 1,351 $ 1,480 Conventional residential mortgage loans (2) (3) - 2,193 13,291 15,484 549,222 564,706 Commercial loans: Construction loans - - - - 63,071 63,071 Commercial mortgage loans (3) - 870 - 870 363,816 364,686 Commercial and Industrial loans 331 - 315 646 838,817 839,463 Consumer loans: Auto loans 1,270 272 163 1,705 28,790 30,495 Finance leases - - - - - - Personal loans - - 5 5 777 782 Credit cards - - - - - - Other consumer loans 147 2 511 660 8,585 9,245 Total loans held for investment $ 1,748 $ 3,337 $ 14,414 $ 19,499 $ 1,854,429 $ 1,873,928 Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more ( i.e ., FHA/VA guaranteed loans and credit cards). 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. No residential mortgage loans insured by the FHA in the Florida region were over 15 months delinquent. 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 as of December 31, 2019 amounted to $ 0.4 million, $ 5.8 million, and $ 0.6 million respectively. As of December 31, 2019 Total 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) (3) (4) $ - $ 2,068 $ 81,140 $ 83,208 $ 40,701 $ 123,909 Conventional residential mortgage loans (2) (4) - 85,501 161,616 247,117 2,562,747 2,809,864 Commercial loans: Construction loans (4) - 105 9,782 9,887 101,430 111,317 Commercial mortgage loans (4) - 3,551 42,298 45,849 1,398,737 1,444,586 Commercial and Industrial loans 1,785 105 25,834 27,724 2,203,152 2,230,876 Consumer loans: Auto loans 36,433 8,539 12,220 57,192 1,077,663 1,134,855 Finance leases 6,501 1,402 1,354 9,257 405,275 414,532 Personal loans 4,008 2,084 1,528 7,620 267,255 274,875 Credit cards 2,896 2,096 4,411 9,403 282,887 292,290 Other consumer loans 4,017 1,577 5,527 11,121 153,980 165,101 Total loans held for investment $ 55,640 $ 107,028 $ 345,710 $ 508,378 $ 8,493,827 $ 9,002,205 Includes nonaccrual loans and accruing loans that were contractually delinquent 90 days or more ( i.e ., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days. 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 $ 37.9 million of residential mortgage loans insured by the FHA that were over 15 months delinquent. As of December 31, 2019, includes $ 35.6 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans. 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, other residential mortgage loans, commercial mortgage loans, and construction loans past due 30-59 days as of December 31, 2019 amounted to $ 7.1 million, $ 116.2 million, $ 6.6 million, and $ 0.1 million respectively. 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 loan classifications 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 securities, as discussed in Note 5 – Investment Securities, above. For residential mortgage and consumer loans, the Corporation also evaluates credit quality based on credit scores and loan-to-value ratios, if applicable. 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 September 30, 2020 and the amortized cost of commercial and construction loans by portfolio classes based on the internal credit-risk category as of December 31, 2019 was as follows: As of September 30, 2020 Puerto Rico and Virgin Islands region Term Loans As of December 31, 2019 Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total CONSTRUCTION Risk Ratings: Pass $ 11,715 $ 19,571 $ 1,814 $ 15,326 $ 1,923 $ 3,304 $ - $ 53,653 $ 35,680 Criticized: Special Mention - 780 - - - - - 780 - Substandard - 886 4,976 - 5,269 4,442 - 15,573 12,566 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 11,715 $ 21,237 $ 6,790 $ 15,326 $ 7,192 $ 7,746 $ - $ 70,006 $ 48,246 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 116,046 $ 286,759 $ 251,885 $ 213,998 $ 172,380 $ 468,307 $ 13 $ 1,509,388 $ 891,298 Criticized: Special Mention - 82,450 53,613 119,255 8,764 11,362 - 275,444 13,080 Substandard 192 97 - - 673 48,487 - 49,449 175,522 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 116,238 $ 369,306 $ 305,498 $ 333,253 $ 181,817 $ 528,156 $ 13 $ 1,834,281 $ 1,079,900 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 583,697 $ 421,939 $ 237,053 $ 223,065 $ 110,127 $ 264,373 $ 336,286 $ 2,176,540 $ 1,321,804 Criticized: Special Mention - - 622 1,753 83 29,537 28,288 60,283 39,327 Substandard 780 1,291 2,722 18,474 1,603 20,363 5,539 50,772 27,265 Doubtful - - - - - - - - 2,768 Loss - - - - - - - - 249 Total commercial and industrial loans $ 584,477 $ 423,230 $ 240,397 $ 243,292 $ 111,813 $ 314,273 $ 370,113 $ 2,287,595 $ 1,391,413 As of September 30, 2020 Term Loans As of December 31, 2019 Florida region Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total CONSTRUCTION Risk Ratings: Pass $ 58,285 $ 16,052 $ 46,581 $ - $ - $ - $ 432 $ 121,350 $ 63,071 Criticized: Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 58,285 $ 16,052 $ 46,581 $ - $ - $ - $ 432 $ 121,350 $ 63,071 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 32,808 $ 81,578 $ 42,980 $ 63,317 $ 29,515 $ 29,028 $ 24,503 $ 303,729 $ 364,370 Criticized: Special Mention - 30,780 6,782 15,181 10,764 17,234 1,200 81,941 - Substandard - - - - - 326 - 326 316 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 32,808 $ 112,358 $ 49,762 $ 78,498 $ 40,279 $ 46,588 $ 25,703 $ 385,996 $ 364,686 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 174,368 $ 265,819 $ 97,987 $ 90,122 $ 11,481 $ 54,088 $ 118,274 $ 812,139 $ 837,697 Criticized: Special Mention 5,736 61,703 12,083 6,353 - - - 85,875 - Substandard 38,759 - - - - 1,729 746 41,234 1,766 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial and industrial loans $ 218,863 $ 327,522 $ 110,070 $ 96,475 $ 11,481 $ 55,817 $ 119,020 $ 939,248 $ 839,463 As of September 30, 2020 Total Term Loans As of December 31, 2019 Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total CONSTRUCTION Risk Ratings: Pass $ 70,000 $ 35,623 $ 48,395 $ 15,326 $ 1,923 $ 3,304 $ 432 $ 175,003 $ 98,751 Criticized: Special Mention - 780 - - - - - 780 - Substandard - 886 4,976 - 5,269 4,442 - 15,573 12,566 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 70,000 $ 37,289 $ 53,371 $ 15,326 $ 7,192 $ 7,746 $ 432 $ 191,356 $ 111,317 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 148,854 $ 368,337 $ 294,865 $ 277,315 $ 201,895 $ 497,335 $ 24,516 $ 1,813,117 $ 1,255,668 Criticized: Special Mention - 113,230 60,395 134,436 19,528 28,596 1,200 357,385 13,080 Substandard 192 97 - - 673 48,813 - 49,775 175,838 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 149,046 $ 481,664 $ 355,260 $ 411,751 $ 222,096 $ 574,744 $ 25,716 $ 2,220,277 $ 1,444,586 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 758,065 $ 687,758 $ 335,040 $ 313,187 $ 121,608 $ 318,461 $ 454,560 $ 2,988,679 $ 2,159,501 Criticized: Special Mention 5,736 61,703 12,705 8,106 83 29,537 28,288 146,158 39,327 Substandard 39,539 1,291 2,722 18,474 1,603 22,092 6,285 92,006 29,031 Doubtful - - - - - - - - 2,768 Loss - - - - - - - - 249 Total commercial and industrial loans $ 803,340 $ 750,752 $ 350,467 $ 339,767 $ 123,294 $ 370,090 $ 489,133 $ 3,226,843 $ 2,230,876 The following table presents the amortized cost of residential mortgage loans by origination year based on the original loan-to-value-ratio (LTV) and original credit scores as of September 30, 2020 and the amortized cost of residential mortgage loans by original LTV and original credit scores as of December 31, 2019: As of September 30, 2020 As of December 31, 2019 Term Loans RESIDENTIAL MORTGAGES Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total Puerto Rico and Virgin Islands region: FHA/VA government-guaranteed loans $ 235 $ 2,124 $ 2,900 $ 4,987 $ 10,406 $ 140,974 $ - $ 161,626 $ 122,429 Conventional residential mortgage loans: Original LTV Less than or equal to 90 percent 26,931 64,816 104,823 70,490 97,267 1,992,451 - 2,356,778 1,684,340 Greater than 90 percent but less than or equal to 100 percent 3,514 7,107 8,068 3,956 14,838 439,463 - 476,946 460,879 Greater than 100 percent - 943 5,480 3,116 7,416 88,054 - 105,009 99,939 Total residential mortgages in Puerto Rico and Virgin Islands region $ 30,680 $ 74,990 $ 121,271 $ 82,549 $ 129,927 $ 2,660,942 $ - $ 3,100,359 $ 2,367,587 Florida region: FHA/VA |
ALLOWANCE FOR CREDIT LOSSES ON
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES | 9 Months Ended |
Sep. 30, 2020 | |
Allowance for Credit Loss [Abstract] | |
ALLOWANCE FOR LOAN AND LEASE LOSSES | NOTE 8 – ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES The following table presents the activity in the ACL on loans and finance leases by portfolio segment for the quarters and nine-month periods ended September 30, 2020 and September 30, 2019: Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Quarter Ended September 30, 2020 (In thousands) Allowance for credit losses: Beginning balance $ 111,450 $ 7,800 $ 49,435 $ 38,310 $ 112,302 $ 319,297 Allowance established for acquired PCD loans 12,739 - 9,723 1,830 4,452 28,744 Provision for credit losses 9,875 2,405 19,672 2,839 13,287 48,078 Charge-offs ( 2,611) ( 1) ( 3,157) ( 150) ( 8,436) ( 14,355) Recoveries 328 37 53 80 2,456 2,954 Ending balance $ 131,781 $ 10,241 $ 75,726 $ 42,909 $ 124,061 $ 384,718 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Nine-Month Period Ended September 30, 2020 (In thousands) Allowance for credit losses: Beginning balance, prior to adoption ASC 326 $ 44,806 $ 2,370 $ 39,194 $ 15,198 $ 53,571 $ 155,139 Impact of adopting ASC 326 49,837 797 ( 19,306) 14,731 35,106 81,165 Allowance established for acquired PCD loans 12,739 - 9,723 1,830 4,452 28,744 Provision for credit losses 32,255 7,068 49,278 11,225 58,705 158,531 Charge-offs ( 8,968) ( 75) ( 3,303) ( 323) ( 33,930) ( 46,599) Recoveries 1,112 81 140 248 6,157 7,738 Ending balance $ 131,781 $ 10,241 $ 75,726 $ 42,909 $ 124,061 $ 384,718 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial & Industrial Loans Consumer Loans Total Quarter Ended September 30, 2019 (In thousands) Allowance for credit losses: Beginning balance $ 48,284 $ 3,026 $ 46,373 $ 21,644 $ 52,684 $ 172,011 Provision (release) for credit losses 2,162 ( 178) ( 808) ( 5,465) 11,687 7,398 Charge-offs ( 5,288) ( 68) ( 813) ( 387) ( 12,708) ( 19,264) Recoveries 874 279 96 1,826 2,355 5,430 Ending balance $ 46,032 $ 3,059 $ 44,848 $ 17,618 $ 54,018 $ 165,575 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial & Industrial Loans Consumer Loans Total Nine-Month Period Ended September 30, 2019 (In thousands) Allowance for credit losses: Beginning balance $ 50,794 $ 3,592 $ 55,581 $ 32,546 $ 53,849 $ 196,362 Provision (release) for credit losses 9,387 ( 815) 3,854 ( 11,068) 30,394 31,752 Charge-offs ( 16,229) ( 347) ( 14,901) ( 7,056) ( 37,004) ( 75,537) Recoveries 2,080 629 314 3,196 6,779 12,998 Ending balance $ 46,032 $ 3,059 $ 44,848 $ 17,618 $ 54,018 $ 165,575 The Corporation estimates the ACL following the methodologies described in Note 1, – Basis of Presentation and Significant Accounting Policies, above for each portfolio segment. The ACL for loans and finance leases was $ 155.1 million as of December 31, 2019. Upon adoption of CECL on January 1, 2020, the Corporation recognized an increase in the ACL for loans and finance leases of approximately $ 81.2 million, as a cumulative effect adjustment from the adoption of ASC 326, with a corresponding decrease in retained earnings, net of applicable income taxes. As of September 30, 2020, the ACL for loans and finance leases was $ 384.7 million, up $ 229.6 million from December 31, 2019, driven by the $ 81.2 million increase as a result of adopting CECL, a $ 158.5 million provision for credit losses on loans, and the establishment of a $ 28.7 million ACL for PCD loans acquired in the BSPR acquisition. The Corporation recorded a $ 48.1 million provision for credit losses on loans and finance leases for the third quarter of 2020, compared to $ 36.4 million for the second quarter of 2020 and $ 7.4 million for the third quarter of 2019. The increase, as compared to the second quarter of 2020, reflects the effect of the initial ACL for non-PCD loans acquired in the BSPR acquisition in the amount of approximately $ 37.5 million, partially offset by lower reserves builds for the legacy loan portfolio compared to the more significant increase in reserves in the second quarter in connection with the effect of the COVID-19 pandemic. The Corporation recorded a provision for credit losses on loans of $ 158.5 million for the first nine months of 2020, compared to $ 31.8 million for the same period in 2019, an increase related to the aforementioned $ 37.5 million initial ACL for non-PCD loans and the reserves build related to the effect of the COVID-19 pandemic on current and forecasted economic conditions. The Corporation recorded net charge-offs of $ 11.4 million for the third quarter of 2020, compared to $ 9.9 million for the second quarter of 2020 and $ 13.8 million for the third quarter of 2019. The increase compared to the second quarter of 2020 was primarily related to a $ 3.1 million charge-off taken on a commercial mortgage loan in the Puerto Rico region, and the decrease compared to the third quarter of 2019 reflects both lower charge-offs taken on residential mortgage loans and the effect in 2019 of a $ 1.7 million loan loss recovery on a commercial and industrial loan in the Virgin Islands region. The increase in the ACL during the first nine months of 2020 was reflected across all loan portfolio categories and geographic regions due to the deterioration in the macroeconomic variables considered for the determination of the PDs and LGDs used in the different models. For those loans where the ACL was determined based on a discounted cash flow model, as indicated in Note 1, – Basis of Presentation and Significant Accounting Policies, above, the change in the ACL due to the passage of time is recorded as part of the provision for credit losses. The tables below present the ACL related to loans and finance leases and the carrying value of loans by portfolio segment as of September 30, 2020 and December 31, 2019: As of September 30, 2020 Residential Mortgage Loans Construction Loans Commercial Mortgage Consumer Loans Commercial and Industrial Loans (1) (Dollars in thousands) Total Total loans held for investment: Amortized cost of loans $ 3,636,713 $ 191,356 $ 2,220,277 $ 3,226,843 $ 2,572,086 $ 11,847,275 Allowance for credit losses 131,781 10,241 75,726 42,909 124,061 384,718 Allowance for credit losses to amortized cost 3.62 % 5.35 % 3.41 % 1.33 % 4.82 % 3.25 % As of December 31, 2019 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Consumer Loans Commercial and Industrial Loans (Dollars in thousands) Total Total loans held for investment: Amortized cost of loans $ 2,933,773 $ 111,317 $ 1,444,586 $ 2,230,876 $ 2,281,653 $ 9,002,205 Allowance for credit losses 44,806 2,370 39,194 15,198 53,571 155,139 Allowance for credit losses to amortized cost 1.53 % 2.13 % 2.71 % 0.68 % 2.35 % 1.72 % ____________ As of September 30, 2020, includes $ 453.4 million of SBA PPP loans, which require no ACL as those 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 - Basis of Presentation and Significant Accounting Policies, above. Upon adoption of CECL on January 1, 2020, the Corporation recognized an increase in the ACL for off-balance sheet exposures of approximately $ 3.9 million as a cumulative effect adjustment from the adoption of ASC 326, with a corresponding decrease in retained earnings, net of applicable income taxes. As of September 30, 2020, the ACL for off-balance sheet credit exposures was $ 6.3 million, including the $ 3.9 million effect of adopting CECL, and a $ 2.4 million charge to the provision in the first nine months of 2020. The provision recorded for the first nine months of 2020 includes a $ 1.3 million charge related to unfunded loan commitments assumed in the BSPR acquisition. The following table presents the activity in the ACL for unfunded loan commitments and standby letters of credit for the quarters and nine-month periods ended September 30, 2020 and 2019: Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Beginning Balance $ 7,084 $ - $ - $ 412 Impact of adopting ASC 326 - - 3,922 - (Release) provision for credit losses ( 803) - 2,359 ( 412) Ending balance $ 6,281 $ - $ 6,281 $ - |
LOANS HELD FOR SALE
LOANS HELD FOR SALE | 9 Months Ended |
Sep. 30, 2020 | |
Receivables Held For Sale [Abstract] | |
LOANS HELD FOR SALE | NOTE 9 – LOANS HELD FOR SALE The Corporation’s loans held-for-sale portfolio as of the dates indicated was composed of: September 30, 2020 December 31, 2019 (In thousands) Residential mortgage loans $ 48,670 $ 39,477 |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 9 Months Ended |
Sep. 30, 2020 | |
Real Estate Owned Disclosure Of Detailed Components [Abstract] | |
OTHER REAL ESTATE OWNED | NOTE 10 – OTHER REAL ESTATE OWNED The following table presents the OREO inventory as of the dates indicated: September 30, December 31, 2020 2019 (In thousands) OREO OREO balances, carrying value: Residential (1) $ 37,075 $ 46,912 Commercial 45,396 47,271 Construction 6,578 7,443 Total $ 89,049 $ 101,626 Excludes $ 18.9 million and $ 16.7 million as of September 30, 2020 and December 31, 2019, respectively, of foreclosures that meet the conditions of ASC Subtopic 310-40 and are presented as a receivable (other assets) in the consolidated statements of financial condition. |
LEASES
LEASES | 9 Months Ended |
Sep. 30, 2020 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | NOTE 11 – LEASES The Corporation accounts for its leases in accordance with ASC 842 “Leases” (“ASC Topic 842”), which it adopted on January 1, 2019. ASC Topic 842 requires the Corporation to record liabilities for future lease obligations as well as assets representing the right to use the underlying lease asset. The Corporation’s operating leases are primarily related to the Corporation’s branches and leased commercial space for automated teller machines (“ATMs”). Our leases mainly have terms ranging from two thirty years, some of which include options to extend the leases for up to seven years. Liabilities to make future lease payments are recorded in accounts payable and other liabilities, while right-of-use (“ROU”) assets are recorded in other assets in the Corporation’s consolidated statements of financial condition. As of September 30, 2020, and December 31, 2019, the Corporation did not have a lease that qualifies as a finance lease. Operating lease cost for the quarter and nine-month period ended September 30, 2020 amounted to $ 3.5 million and $ 8.7 million, respectively (2019 - $ 2.8 million and $ 8.0 million, respectively), recorded in occupancy and equipment in the consolidated statement of income. The Corporation assumed operating leases in the BSPR acquisition on September 1, 2020. The liability and related ROU assets recorded upon the assumption of these leases was approximately $ 52.1 Supplemental balance sheet information related to leases as of the dates indicated was as follows: September 30, December 31, 2020 2019 (Dollars in thousands) Operating lease right-of-use ("ROU") asset $ 107,629 $ 61,327 Operating lease liability $ 110,888 $ 64,259 Operating lease weighted-average remaining lease term (in years) 8.6 10.8 Operating lease weighted-average discount rate 2.24% 3.29% Generally, the Corporation cannot practically determine the interest rate implicit in the lease. Therefore, the Corporation uses its incremental borrowing rate as the discount rate for the lease. Supplemental cash flow information related to leases is as follows: Nine-Month Period Ended September 30, September 30, 2020 2019 (In thousands) Operating cash flow from operating leases (1) $ 8,492 $ 7,619 ROU assets obtained in exchange for operating lease liabilities (2) 1,328 8,139 Represents cash paid for amounts included in the measurement of operating lease liabilities. Represents non-cash activity and, accordingly, is not reflected in the consolidated statements of cash flows. Excludes the aforementioned $52.1 million of ROU assets and related liabilities assumed in the BSPR acquisition. Maturities under lease liabilities as of September 30, 2020 were as follows: Amount (In thousands) 2020 $ 4,972 2021 19,062 2022 17,945 2023 16,018 2024 14,507 2025 and later years 51,147 Total lease payments 123,651 Less: imputed interest ( 12,763) Total present value of lease liability $ 110,888 |
DERIVATIVE INSTRUMENTS AND HEDG
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | 9 Months Ended |
Sep. 30, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | NOTE 12 – DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES One of the market risks facing the Corporation is interest rate risk, which includes the risk that changes in interest rates will result in changes in the value of the Corporation’s assets or liabilities and will adversely affect the Corporation’s net interest income from its loan and investment portfolios. The overall objective of the Corporation’s interest rate risk management activities is to reduce the variability of earnings caused by changes in interest rates. The Corporation designates a derivative as a fair value hedge, cash flow hedge or economic undesignated hedge when it enters into the derivative contract. As of September 30, 2020 and December 31, 2019, all derivatives held by the Corporation were considered economic undesignated hedges. The Corporation records these undesignated hedges at fair value with the resulting gain or loss recognized in current earnings. The following summarizes the principal derivative activities used by the Corporation in managing interest rate risk: Interest rate cap agreements - Interest rate cap agreements provide the right to receive cash if a reference interest rate rises above a contractual rate. The value of the interest rate cap increases as the reference interest rate rises. The Corporation enters into interest rate cap agreements for protection from rising interest rates. Forward Contracts - Forward contracts are primarily sales of to-be-announced (“TBA”) MBS that will settle over the standard delivery date and do not qualify as “regular way” security trades. Regular-way security trades are contracts that have no net settlement provision and no market mechanism to facilitate net settlement and that provide for delivery of a security within the time frame generally established by regulations or conventions in the market place or exchange in which the transaction is being executed. The forward sales are considered derivative instruments that need to be marked to market. The Corporation uses these securities to economically hedge the FHA/VA residential mortgage loan securitizations of the mortgage-banking operations. The Corporation also reports as forward contracts the mandatory mortgage loan sales commitments that it enters into with GSEs that require or permit net settlement via a pair-off transaction or the payment of a pair-off fee. Unrealized gains (losses) are recognized as part of mortgage banking activities in the consolidated statements of income. Interest Rate Lock Commitments - Interest rate lock commitments are agreements under which the Corporation agrees to extend credit to a borrower under certain specified terms and conditions in which the interest rate and the maximum amount of the loan are set prior to funding. Under the agreement, the Corporation commits to lend funds to a potential borrower, generally on a fixed rate basis, regardless of whether interest rates change in the market. Interest rate swaps – The Corporation acquired interest rate swaps as a result of the acquisition of BSPR. An interest rate swap is an agreement between two entities to exchange cash flows in the future. The agreements acquired from BSPR consist of the Corporation offering borrower-facing derivative products using a “back-to-back” structure in which the borrower-facing derivative transaction is paired with an identical, offsetting transaction with an approved dealer-counterparty. By using a back-to-back trading structure, both the commercial borrower and the Corporation are largely insulated from market risk and volatility. The agreements set the dates on which the cash flows will be paid and the manner in which the cash flows will be calculated. The fair values of these swaps are recorded as components of other assets or accounts payable and other liabilities in the Corporation’s consolidated statement of financial condition. Changes in the fair value of interest rate swaps, which occur due to changes in interest rates, are recorded in the consolidated statements of income as a component of interest income on loans. To satisfy the needs of its customers, the Corporation may enter into non-hedging transactions. In these transactions, the Corporation generally participates as a buyer in one of the agreements and as a seller in the other agreement under the same terms and conditions. In addition, the Corporation enters into certain contracts with embedded derivatives that do not require separate accounting as these are clearly and closely related to the economic characteristics of the host contract. When the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, it is bifurcated, carried at fair value, and designated as a trading or non-hedging derivative instrument. The following table summarizes the notional amounts of all derivative instruments as of the indicated dates: Notional Amounts (1) As of As of September 30, December 31, 2020 2019 (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements $ 16,680 $ - Written interest rate cap agreements 14,500 21,010 Purchased interest rate cap agreements 14,500 21,010 Interest rate lock commitments 24,713 11,456 Forward Contracts: Sale of TBA GNMA MBS pools 35,000 35,000 Forward loan sales commitments 25,097 6,418 $ 130,490 $ 94,894 Notional amounts are presented on a gross basis with no netting of offsetting exposure positions. The following table summarizes for derivative instruments their fair values and location in the consolidated statements of financial condition as of the indicated dates: Asset Derivatives Liability Derivatives Statement of September 30, December 31, September 30, December 31, Financial 2020 2019 2020 2019 Condition Location Fair Value Fair Value Statement of Financial Condition Location Fair Value Fair Value (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements Other assets $ 1,762 $ - Accounts payable and other liabilities $ 1,789 $ - Written interest rate cap agreements Other assets - - Accounts payable and other liabilities 1 11 Purchased interest rate cap agreements Other assets 1 11 Accounts payable and other liabilities - - Interest rate lock commitments Other assets 951 341 Accounts payable and other liabilities - - Forward Contracts: Sales of TBA GNMA MBS pools Other assets 364 - Accounts payable and other liabilities 31 138 Forward loan sales commitments Other assets 20 20 Accounts payable and other liabilities - - $ 3,098 $ 372 $ 1,821 $ 149 The following table summarizes the effect of derivative instruments on the consolidated statements of income for the indicated periods: Gain or (Loss) Gain or (Loss) Location of Unrealized Gain (Loss) Quarter Ended Nine-Month Period Ended on Derivative Recognized in September 30, September 30, Statement of Income 2020 2019 2020 2019 (In thousands) UNDESIGNATED ECONOMIC HEDGES: Interest rate contracts: Interest rate swap agreements Interest income - Loans $ 18 $ - $ 18 $ - Written and purchased interest rate cap agreements Interest income - Loans - ( 1) - ( 5) Interest rate lock commitments Mortgage Banking Activities 254 15 910 145 Forward contracts: Sales of TBA GNMA MBS pools Mortgage Banking Activities 454 214 458 210 Forward loan sales commitments Mortgage Banking Activities - - - 8 Total gain on derivatives $ 726 $ 228 $ 1,386 $ 358 Derivative instruments are subject to market risk. As is the case with investment securities, the market value of derivative instruments is largely a function of the financial market’s expectations regarding the future direction of interest rates. Accordingly, current market values are not necessarily indicative of the future impact of derivative instruments on earnings. This will depend, for the most part, on the shape of the yield curve, and the level of interest rates, as well as the expectations for rates in the future. As of September 30, 2020, the Corporation had not entered into any derivative instrument containing credit-risk-related contingent features. |
OFFSETTING OF ASSETS AND LIABIL
OFFSETTING OF ASSETS AND LIABILITIES | 9 Months Ended |
Sep. 30, 2020 | |
Offsetting [Abstract] | |
OFFSETTING OF ASSETS AND LIABILITIES | NOTE 13 – OFFSETTING OF ASSETS AND LIABILITIES The Corporation enters into master agreements with counterparties, primarily related to derivatives and repurchase agreements, that may allow for netting of exposures in the event of default. In an event of default, each party has 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. The following tables present information about contracts subject to offsetting provisions related to financial assets and liabilities as well as derivative assets and liabilities, as of the indicated dates: Offsetting of Financial Assets and Derivative Assets As of September 30, 2020 Gross Amounts Not Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Derivatives $ 351 $ - $ 351 $ - $ ( 351) $ - As of December 31, 2019 Gross Amounts Not Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Derivatives $ 11 $ - $ 11 $ - $ ( 11) $ - Securities purchased under agreements to resell 200,000 ( 200,000) - - - - Total $ 200,011 $ ( 200,000) $ 11 $ - $ ( 11) $ - Offsetting of Financial Liabilities and Derivative Liabilities As of September 30, 2020 Gross Amounts Not Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Derivatives $ 1,820 $ - $ 1,820 $ ( 1,820) $ - $ - Securities sold under agreements to repurchase 300,000 - 300,000 ( 300,000) - - Total $ 301,820 $ - $ 301,820 $ ( 301,820) $ - $ - As of December 31, 2019 Gross Amounts Not Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Securities sold under agreements to repurchase $ 300,000 $ ( 200,000) $ 100,000 $ ( 100,000) $ - $ - |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES | 9 Months Ended |
Sep. 30, 2020 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
GOODWILL AND OTHER INTANGIBLES | NOTE 14 – GOODWILL AND OTHER INTANGIBLES Goodwill as of September 30, 2020 and December 31, 2019 amounted to $ 34.4 million and $ 28.1 million, respectively. The $ 6.3 million increase in goodwill as of September 30, 2020 is related to the acquisition of BSPR. This transaction was accounted for as a business combination under the acquisition method of accounting in which the Corporation preliminarily allocated the total cash consideration paid of $ 1.3 billion over the estimated fair value of BSPR’s assets acquired and liabilities assumed. The excess of the acquisition price over the estimated fair value of the net assets acquired resulted in the recognition of goodwill of $ 6.3 million. This acquisition also resulted in the recognition of $ 39.2 million of identifiable intangible assets as further discussed below. The amount of goodwill is subject to change, as the Corporation’s fair value estimates associated with the BSPR acquisition are considered preliminary estimates and are subject to refinement for a period of up to one year after the closing date of the acquisition. As potential additional information related to those fair value estimates becomes available and such information is considered final. 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 the values of goodwill or other intangibles may be impaired. The analysis performed in the fourth quarter of 2019 indicated that it was more likely than not that the fair value of the United States operations reporting unit was greater than its carrying value based on a qualitative assessment of events and circumstances that could impact the latest quantitative estimate of fair value of the reporting unit performed in the fourth quarter of 2018. During 2020, the COVID-19 pandemic has broadly impacted the operating environment, since March, causing a sharp contraction in global economic activity and increased market volatility affecting both equity and credit markets. During the first, second and third quarters of 2020, the Corporation performed qualitative assessments to determine whether the continued effects of the COVID-19 pandemic constituted a triggering event that would indicate that it was more likely than not that the fair value of the reporting unit was impaired. Although the market volatility resulting from uncertainties around the COVID-19 pandemic had a broad negative effect on macroeconomic and equity market indicators, the duration and extent of the effects of the COVID-19 pandemic are still highly uncertain at this time and its ultimate effect could be affected by measures implemented by central banks and governments intended to mitigate the contraction in economic activity and market concerns. There were no other events specific to the performance of the United States operations reporting unit that would have had a significant negative impact on the valuation of the reporting unit. Ultimately, the Corporation concluded that the COVID-19 event was not a triggering event that required the performance of a quantitative test. As a result, no The Corporation had other intangible assets of $ 43.9 million as of September 30, 2020, consisting of $ 37.7 million in core deposit intangibles, $ 5.8 million in purchased credit card relationship intangible, and $ 0.4 million in insurance customer relationship intangible. The acquisition of BSPR increased core deposit intangibles by $ 35.4 million and purchased credit card relationship intangibles by $ 3.8 million as of September 30, 2020. The following table shows the gross amount and accumulated amortization of the Corporation’s intangible assets as of the indicated dates: Quarter Ended September 30, 2020 Quarter Ended September 30, 2019 Core deposit intangible Purchased credit relationship intangible Insurance customer relationship intangible Total Core deposit intangible Purchased credit relationship intangible Insurance customer relationship intangible Total (Dollars in thousands) Gross amount of intangible assets: Beginning balance $ 51,664 $ 24,465 $ 1,067 $ 77,196 $ 51,664 $ 24,465 $ 1,067 $ 77,196 Additions due to acquisitions 35,432 3,800 - 39,232 - - - - Ending Balance 87,096 28,265 1,067 116,428 51,664 24,465 1,067 77,196 Accumulated amortization: Beginning balance ( 48,578) ( 21,797) ( 673) ( 71,048) ( 47,762) ( 19,806) ( 521) ( 68,089) Amortization ( 769) ( 679) ( 39) ( 1,487) ( 207) ( 522) ( 38) ( 767) Ending balance ( 49,347) ( 22,476) ( 712) ( 72,535) ( 47,969) ( 20,328) ( 559) ( 68,856) Net intangible assets $ 37,749 $ 5,789 $ 355 $ 43,893 $ 3,695 $ 4,137 $ 508 $ 8,340 Nine-Month Period Ended September 30, 2020 Nine-Month Period Ended September 30, 2019 Core deposit intangible Purchased credit relationship intangible Insurance customer relationship intangible Total Core deposit intangible Purchased credit relationship intangible Insurance customer relationship intangible Total (Dollars in thousands) Gross amount of intangible assets: Beginning balance $ 51,664 $ 24,465 $ 1,067 $ 77,196 $ 51,664 $ 24,465 $ 1,067 $ 77,196 Additions due to acquisitions 35,432 3,800 - 39,232 - - - - Ending Balance 87,096 28,265 1,067 116,428 51,664 24,465 1,067 77,196 Accumulated amortization: Beginning balance ( 48,176) ( 20,850) ( 597) ( 69,623) ( 47,329) ( 18,763) ( 445) ( 66,537) Amortization ( 1,171) ( 1,626) ( 115) ( 2,912) ( 640) ( 1,565) ( 114) ( 2,319) Ending balance ( 49,347) ( 22,476) ( 712) ( 72,535) ( 47,969) ( 20,328) ( 559) ( 68,856) Net intangible assets $ 37,749 $ 5,789 $ 355 $ 43,893 $ 3,695 $ 4,137 $ 508 $ 8,340 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. The weighted average remaining amortization periods typically range from one to six years . 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 September 30, 2020. The estimated aggregate annual amortization expense related to the intangible assets for future periods was as follows as of September 30, 2020: Amount (In thousands) 2020 $ 3,001 2021 11,293 2022 8,731 2023 7,651 2024 6,418 2025 and after 6,799 |
NON-CONSOLIDATED VARIABLE INTER
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS | 9 Months Ended |
Sep. 30, 2020 | |
Transfers and Servicing [Abstract] | |
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS | NOTE 15 – 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 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. Also in 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 are presented in the Corporation’s consolidated statement of financial condition as other borrowings, net of related issuance costs. The variable-rate TRuPs are fully and unconditionally guaranteed by the Corporation. The Junior Subordinated Deferrable Debentures issued by the Corporation in April 2004 and September 2004 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). During the third quarter of 2020, the Corporation completed the repurchase of $0.4 million of TRuPs of the FBP Statutory Trust I , which resulted in a commensurate reduction in the related Floating Rate Junior Subordinated Debentures. The Corporation’s purchase price equated to 75% of the $0.4 million par value. The 25% discount resulted in a gain of approximately $0.1 million, which is reflected in the consolidated statements of income as gain on early extinguishment of debt. 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 September 30, 2020, 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 these private label MBS in favor of the Corporation’s banking subsidiary. Currently, the Bank is the sole owner of these 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 90-day 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 securities. 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 September 30, 2020, the amortized cost and fair value of these private label MBS amounted to $13.5 million and $8.8 million, respectively, with a weighted average yield of 2.22%, which is included as part of the Corporation’s available-for-sale investment securities portfolio. As described on Note 5 – Investment Securities, above, the ACL on these private label MBS amounted to $1.1 million as of September 30, 2020. 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 on 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 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 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 September 30, 2020, 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. Servicing assets are included as part of Other assets in the consolidated statements of financial condition. The changes in servicing assets are shown below for the indicated periods: Quarter Ended Nine-Month Period Ended September 30, September 30, (In thousands) 2020 2019 2020 2019 Balance at beginning of period $ 26,040 $ 27,231 $ 26,762 $ 27,428 Purchase of servicing assets (1) 7,781 - 7,781 - Capitalization of servicing assets 1,598 986 3,168 2,855 Amortization ( 1,594) ( 1,290) ( 3,808) ( 3,266) Temporary impairment charges, net ( 163) ( 53) ( 206) ( 73) Other (2) ( 318) - ( 353) ( 70) Balance at end of period $ 33,344 $ 26,874 $ 33,344 $ 26,874 (1) Represents servicing assets acquired in the BSPR acquisition. (2) Amount represents adjustments related to the repurchase of loans serviced for others, including loans previously serviced for BSPR and eliminated as part of the acquisition. 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 Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Balance at beginning of period $ 39 $ 50 $ 73 $ 30 Temporary impairment charges 163 54 301 78 OTTI of servicing assets - - ( 77) - Recoveries - ( 1) ( 95) ( 5) Balance at end of period $ 202 $ 103 $ 202 $ 103 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 Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Servicing fees $ 2,460 $ 2,166 $ 6,463 $ 6,333 Late charges and prepayment penalties 114 144 372 455 Adjustment for loans repurchased (1) ( 318) - ( 353) ( 70) Other - - - ( 15) Servicing income, gross 2,256 2,310 6,482 6,703 Amortization and impairment of servicing assets ( 1,757) ( 1,343) ( 4,014) ( 3,339) Servicing income, net $ 499 $ 967 $ 2,468 $ 3,364 (1) Includes $14 thousand for the quarter and nine-month period ended September 30, 2020 related to the elimination of servicing rights associated with loans previously serviced for BSPR. The Corporation’s servicing assets 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 ranged as follows for the indicated periods: Maximum Minimum Nine-Month Period Ended September 30, 2020: Constant prepayment rate: Government-guaranteed mortgage loans 6.4 % 6.2 % Conventional conforming mortgage loans 7.2 % 6.9 % Conventional non-conforming mortgage loans 9.2 % 8.6 % Discount rate: Government-guaranteed mortgage loans 12.0 % 12.0 % Conventional conforming mortgage loans 10.0 % 10.0 % Conventional non-conforming mortgage loans 14.3 % 13.8 % Nine-Month Period Ended September 30, 2019: Constant prepayment rate: Government-guaranteed mortgage loans 6.4 % 6.2 % Conventional conforming mortgage loans 6.9 % 6.7 % Conventional non-conforming mortgage loans 9.3 % 8.9 % Discount rate: Government-guaranteed mortgage loans 12.0 % 12.0 % Conventional conforming mortgage loans 10.0 % 10.0 % Conventional non-conforming mortgage loans 14.3 % 14.3 % 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 September 30, 2020 and December 31, 2019 were as follows: September 30, December 31, (Dollars in thousands) 2020 2019 Carrying amount of servicing assets $ 33,344 $ 26,762 Fair value $ 37,757 $ 31,027 Weighted-average expected life (in years) 7.96 8.39 Constant prepayment rate (weighted-average annual rate) 6.80 % 6.45 % Decrease in fair value due to 10% adverse change $ 909 $ 748 Decrease in fair value due to 20% adverse change $ 1,782 $ 1,464 Discount rate (weighted-average annual rate) 11.21 % 11.27 % Decrease in fair value due to 10% adverse change $ 1,654 $ 1,450 Decrease in fair value due to 20% adverse change $ 3,182 $ 2,783 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 servicing asset 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. |
LOANS PAYABLE
LOANS PAYABLE | 9 Months Ended |
Sep. 30, 2020 | |
DebtDisclosureAbstract | |
Short-term Debt [Text Block] | NOTE 17 – LOANS PAYABLE The Corporation participates in the Borrower-in-Custody (“BIC”) Program of the FED. Through the BIC Program, a broad range of loans (including commercial, consumer and residential mortgages) may be pledged as collateral for borrowings through the FED Discount Window. As of September 30, 2020, pledged collateral that is related to this credit facility amounted to $ 1.6 billion, mainly commercial, consumer and residential mortgage loans, which after a margin haircut represents in approximately $ 936.1 million of credit availability under this program. With the impacts of COVID-19 on individual, communities and organizations continuing to evolve, the Federal Reserve has taken several actions to support the economy and financial stability including, among other things, lowering the target range for the federal funds rate and relaunching large scale asset purchases. The FED Discount Window program provided the opportunity to access a low-rate short-term source of funding in the current high volatility market environment. There were no outstanding borrowings under the Primary Credit FED Discount Window Program as of September 30, 2020. |
DEPOSITS
DEPOSITS | 9 Months Ended |
Sep. 30, 2020 | |
Deposits [Abstract] | |
DEPOSITS | NOTE 16 – DEPOSITS The following table summarizes deposit balances as of the indicated dates: September 30, December 31, 2020 2019 (In thousands) Type of account: Non-interest-bearing deposit accounts $ 4,467,041 $ 2,367,856 Interest-bearing saving accounts 4,096,042 2,437,345 Interest-bearing checking accounts 3,477,506 1,412,390 Certificates of deposit (CDs) 2,886,115 2,695,749 Brokered CDs 276,194 435,089 Total $ 15,202,898 $ 9,348,429 Brokered CDs mature as follows: September 30, 2020 (In thousands) Three months or less $ 60,107 Over three months to six months 54,096 Over six months to one year 53,591 Over one year to three years 81,121 Over three years to five years 27,279 Total $ 276,194 The following were the components of interest expense on deposits for the indicated periods: Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Interest expense on deposits $ 16,245 $ 20,159 $ 52,587 $ 56,385 Accretion of premiums from acquisitions ( 284) ( 2) ( 285) ( 6) Amortization of broker placement fees 127 184 437 557 Total interest expense on deposits $ 16,088 $ 20,341 $ 52,739 $ 56,936 |
SECURITIES SOLD UNDER AGREEMENT
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of Repurchase Agreements [Abstract] | |
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | NOTE 18 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase (repurchase agreements) as of the dates indicated consisted of the following: September 30, 2020 December 31, 2019 (In thousands) Long-term repurchase agreements (1)(2) $ 300,000 $ 100,000 Weighted-average interest rate of 1.81% and 2.26% as of September 30, 2020 and December 31, 2019, respectively. As of September 30, 2020, includes repurchase agreements of $200 million tied to variable rates. During the first quarter of 2020, the Corporation exercised its call option on $ 200 million of reverse repurchase agreements that were previously offset in the statement of financial condition against variable-rate repurchase agreements, pursuant to ASC Subtopic 210-20-45-11, “Balance Sheet – Offsetting – Repurchase and Reverse Repurchase Agreements.” Repurchase agreements mature as follows as of the indicated date: September 30, 2020 (In thousands) One year to three years $ 100,000 Three years to five years 200,000 Total $ 300,000 As of September 30, 2020 and December 31, 2019, the securities underlying such agreements were delivered to the dealers with which the repurchase agreements were transacted. Repurchase agreements as of September 30, 2020 grouped by counterparty, were as follows: (Dollars in thousands) Weighted-Average Counterparty Amount Maturity (In months) JP Morgan Chase $ 100,000 16 Credit Suisse First Boston 200,000 52 $ 300,000 |
ADVANCES FROM THE FEDERAL HOME
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) | 9 Months Ended |
Sep. 30, 2020 | |
Advances from Federal Home Loan Banks [Abstract] | |
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) | NOTE 19 – ADVANCES FROM THE FEDERAL HOME LOAN BANK The following is a summary of the advances from the FHLB as of the indicated dates: September 30, December 31, (In thousands) 2020 2019 Short-term Fixed-rate advances from FHLB (1) $ - $ 35,000 Long-term Fixed -rate advances from FHLB (2) 490,000 535,000 $ 490,000 $ 570,000 Interest rate of 1.83% as of December 31, 2019. Weighted-average interest rate of 2.24% and 2.21% as of September 30, 2020 and December 31, 2019, respectively. Advances from FHLB mature as follows as of the indicated date: As of September 30, 2020 (In thousands) Within one month $ 50,000 Over six months to one year 120,000 Over one year to three years 320,000 Total $ 490,000 As of September 30, 2020, the Corporation used $ 17.0 million in letters of credit issued by the FHLB as pledges for public deposits in the Virgin Islands and had additional capacity of approximately $ 1.4 billion on this credit facility based on collateral pledged at the FHLB, including a haircut reflecting the perceived risk associated with the collateral. |
OTHER BORROWINGS
OTHER BORROWINGS | 9 Months Ended |
Sep. 30, 2020 | |
Subordinated Borrowings [Abstract] | |
OTHER BORROWINGS | NOTE 20 – OTHER BORROWINGS Other borrowings, as of the indicated dates, consisted of: September 30, December 31, 2020 2019 (In thousands) Floating rate junior subordinated debentures (FBP Statutory Trust I) (1) (2) $ 65,205 $ 65,593 Floating rate junior subordinated debentures (FBP Statutory Trust II) (3) 118,557 118,557 $ 183,762 $ 184,150 Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.75% over 3-month LIBOR ( 3.00% as of September 30, 2020 and 4.65% as of December 31, 2019). Amount represents junior subordinated interest-bearing debentures due in 2034 with a floating interest rate of 2.50% over 3-month LIBOR ( 2.73% as of September 30, 2020 and 4.41% as of December 31, 2019). |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 9 Months Ended |
Sep. 30, 2020 | |
Stockholders' Equity Note [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 21 – STOCKHOLDERS’ EQUITY Common Stock As of September 30, 2020 and December 31, 2019, the Corporation had 2,000,000,000 authorized shares of common stock with a par value of $ 0.10 per share. As of September 30, 2020 and December 31, 2019, there were 223,028,185 and 222,103,721 shares issued, respectively, and 218,228,901 and 217,359,337 shares outstanding, respectively. Refer to Note 4 – Stock Based Compensation, above for information about transactions related to common stock under the Omnibus Plan. On July 31, 2020, the Corporation announced that its Board of Directors declared a quarterly cash dividend of $ 0.05 per common share that was paid on September 11, 2020 to shareholders of record at the close business on August 27, 2020. For the quarter and nine-month period ended September 30, 2020, total cash dividends declared on shares of common stock amounted to $ 11.0 million and $ 32.8 million, respectively, compared to $ 6.5 million and $ 19.6 million for the same periods of 2019. 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. On October 30, 2020, the Corporation announced that its Board of Directors had declared a quarterly cash dividend of $0.05 per common share payable on December 11, 2020 to shareholders of record as the close of business on November 27, 2020. 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. As of September 30, 2020, the Corporation had five outstanding series of non-convertible, non-cumulative perpetual monthly income preferred stock: 7.125% non-cumulative perpetual monthly income preferred stock, Series A; 8.35% non-cumulative perpetual monthly income preferred stock, Series B; 7.40% non-cumulative perpetual monthly income preferred stock, Series C; 7.25% non-cumulative perpetual monthly income preferred stock, Series D; and 7.00% non-cumulative perpetual monthly income preferred stock, Series E. The liquidation value per share is $ 25. Effective January 17, 2012, the Corporation delisted all of its outstanding series of non-convertible, non-cumulative perpetual monthly income preferred stock from the New York Stock Exchange. The Corporation has not arranged for listing and/or registration on another national securities exchange or for quotation of the Series A through E preferred stock in a quotation medium. The Corporation has continued to pay monthly dividend payments on the non-cumulative perpetual monthly income preferred stock. For each of the quarter, and nine-month periods ended September 30, 2020 and 2019, total cash dividends declared on shares of preferred stock amounted to $ 0.7 million and $ 2.0 million, respectively. The Corporation intends to continue to make monthly dividend payments on the non-cumulative perpetual monthly income preferred stock. However, the Corporation’s monthly dividend payments on the non-cumulative perpetual monthly income preferred stock, including the declaration, timing and amount, remain subject to consideration and approval by the Corporation’s Board Directors at the relevant times. Treasury stock During the first nine months of 2020 and 2019, the Corporation withheld an aggregate of 51,814 shares and 176,015 shares, respectively, of the restricted stock that vested during those periods, to cover the officers’ payroll and income tax withholding liabilities; these shares are held as treasury stock. As of September 30, 2020 and December 31, 2019, the Corporation had 4,799,284 and 4,744,384 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 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 $ 97.6 million as of September 30, 2020 and December 31, 2019. There were no transfers to the legal surplus reserve during the first nine months of 2020. |
INCOME TAXES
INCOME TAXES | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 22 - 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, First BanCorp 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. 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 (“IBE”) unit of the Bank, and through the Bank’s subsidiary, FirstBank Overseas Corporation, whose interest income and gains on sales is 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. The CARES Act of 2020 includes several provisions to stimulate the U.S. economy in the midst of the COVID-19 pandemic. The CARES Act of 2020 includes tax provisions that temporarily modified the taxable income limitations for NOL usage to offset future taxable income, NOL carryback provisions and other related income and non-income based tax laws. The Corporation has evaluated such provisions and determined that the impact of the CARES Act of 2020 on the income tax provision and deferred tax assets as of September 30, 2020 was not significant. For the third quarter and first nine months of 2020, the Corporation recorded a net income tax benefit of $ 4.4 1.3 19.2 54.9 8.0 13.0 38.9 million charge to the provision for credit losses related to non-PCD assets acquired in the BSPR acquisition; (iii) an income tax benefit of approximately $ 39.8 For the quarter and nine-month period ended September 30, 2020, 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 Subtopic 740-270, “Income Taxes” (“ASC Subtopic 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 nine months of 2020, excluding entities from which a tax benefit cannot be recognized and discrete items, decreased to 21%, compared to 29% for the first nine months of 2019, primarily due to a decreased taxable income proportionate to pre-tax income. The estimated annual effective tax rate, including all entities, for 2020 was 17% ( 23% excluding discrete items), compared to 30% for the first nine months of 2019 ( 29% excluding discrete items). On January 1, 2020, the Corporation increased its deferred tax assets by $ 31.3 million in connection with the transitional adjustment resulting from the adoption of the CECL accounting standard. In addition, the BSPR acquisition added $ 28.9 million of net deferred tax assets as of the acquisition date. The Corporation’s net deferred tax asset amounted to $ 347.5 million as of September 30, 2020, net of a valuation allowance of $ 99.6 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, and, therefore, reversed $ 8.0 347.2 million as of September 30, 2020, net of a valuation allowance of $ 62.1 million, compared to a net deferred tax asset of $ 264.8 million, net of a valuation allowance of $ 55.6 million, as of December 31, 2019. 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 since any such tax paid in the U.S. or USVI is 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 third quarter and nine-month period ended September 30, 2020, the Corporation incurred an income tax expense of approximately $ 1.2 million and $ 3.4 million, respectively, related to its U.S. operations, compared to $ 1.2 million and $ 3.5 million, respectively, for the comparable periods in 2019. The limitation did not impact the USVI operations for the third quarter and nine-month periods ended September 30, 2020 and 2019. As of September 30, 2020, the Corporation had $31 thousand of deferred taxes on interest and penalties related to uncertain tax positions that it acquired from BSPR. The Corporation classifies all interest and penalties related to tax uncertainties as income tax expense. Audit periods remain open for review until the statute of limitations has passed. 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 2016 remain open to examination. For Puerto Rico tax purposes, all tax years subsequent to 2015 remain open to examination. |
OTHER COMPREHENSIVE INCOME (LOS
OTHER COMPREHENSIVE INCOME (LOSS) | 9 Months Ended |
Sep. 30, 2020 | |
Statement of Other Comprehensive Income [Abstract] | |
OTHER COMPREHENSIVE INCOME | NOTE 23 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents changes in accumulated other comprehensive income (loss) for the quarters and nine-month periods ended September 30, 2020 and 2019: Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) Quarter Ended Nine-month period Ended September 30, September 30, September 30, September 30, 2020 2019 2020 2019 (In thousands) Unrealized net holding gains (losses) on debt securities Beginning balance $ 53,270 $ ( 2,438) $ 6,764 $ ( 40,415) Other comprehensive income ( 7,943) 7,562 38,563 45,539 Ending balance $ 45,327 $ 5,124 $ 45,327 $ 5,124 (1) All amounts presented are net of tax. The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) during the quarters and nine-month periods ended September 30, 2020 and 2019: Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Quarter Ended Nine-month period Ended September 30, September 30, Affected Line Item in the Consolidated Statements of Income 2020 2019 2020 2019 (In thousands) Unrealized net holding gains (losses) on debt securities: Realized (gain) loss on sale of debt securities Net gain (loss) on investment securities $ ( 5,288) $ 497 $ ( 13,380) $ 497 Credit losses Provision for credit losses - - 1,631 - Total before tax ( 5,288) 497 ( 11,749) 497 Income tax - - - - Total, net of tax $ ( 5,288) $ 497 $ ( 11,749) $ 497 |
EMPLOYEE POST RETIREMENT BENEFI
EMPLOYEE POST RETIREMENT BENEFIT PLANS | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure Text Block [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 24 – EMPLOYEE POST RETIREMENT BENEFIT PLANS The Corporation maintains two frozen qualified noncontributory defined benefit pension plans (including a complementary post-retirements benefits plan covering medical benefits and life insurance after retirement) (the “Pension Plans”) that it obtained in the BSPR acquisition. One plan covers substantially all former BSPR’s employees who were active before January 1, 2007 (the “BSPR Plan”), while the other plan was previously assumed by BSPR. The accrual of benefits under the Pension Plans is frozen to all participants. As of September 30, 2020, the Corporation had a net benefit obligation of $ 1.6 104.9 million projected benefit obligation less the estimated fair value of plan assets of $ 103.3 million. The Corporation recorded $ 36 thousand of net periodic pension benefit in the month of September, included as part of employee’s compensation and benefits in the consolidated statements of income. The Corporation does not expect to contribute to the Pension Plan during 2020. |
FAIR VALUE
FAIR VALUE | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE | NOTE 25 – FAIR VALUE Fair Value Measurement The FASB authoritative guidance for 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 financial instruments. The hierarchy 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. Level 1 assets and liabilities include equity securities that trade in an active exchange market, as well as certain U.S. Treasury and other U.S. government and agency securities and corporate debt securities that are traded by dealers or brokers 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 2 assets and liabilities include (i) MBS for which the fair value is estimated based on the value of identical or comparable assets, (ii) debt securities with quoted prices that are traded less frequently than exchange-traded instruments, and (iii) derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. 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 judgments as to the estimation. Financial Instruments Recorded at Fair Value on a Recurring Basis Investment securities available for sale and marketable equity securities held at fair value The fair value of investment securities was the market value based on quoted market prices (as is the case with U.S. Treasury notes, non-callable U.S. agencies debt securities, and equity securities with readily determinable fair values), when available (Level 1), or, when available, market prices for identical or comparable assets (as is the case with MBS and callable U.S. agency debt securities) that are based on observable market parameters, including benchmark yields, reported trades, quotes from brokers or dealers, issuer spreads, bids, offers and reference data, including market research operations (Level 2). Observable prices in the market already consider the risk of nonperformance. If listed prices or quotes are not available, fair value is based upon discounted cash flow models that use unobservable inputs due to the limited market activity of the instrument, as is the case with certain private label MBS held by the Corporation (Level 3). Derivative instruments The fair value of most of the Corporation’s derivative instruments is based on observable market parameters and takes into consideration the credit risk component of paying counterparties, when appropriate. On interest caps, only the seller's credit risk is considered. The Corporation valued the caps using a discounted cash flow approach based on the related LIBOR and swap rate for each cash flow The Corporation valued the interest rate swaps using a discounted cash flow approach based on the related LIBOR and swap forward rate for each cash flow. The Corporation considers a credit spread for those derivative instruments that are not secured. The cumulative mark-to-market effect of credit risk in the valuation of derivative instruments for the quarters and nine-month periods ended September 30, 2020 and 2019 was immaterial. Assets and liabilities measured at fair value on a recurring basis are summarized below as of September 30, 2020 and December 31, 2019: As of September 30, 2020 As of December 31, 2019 Fair Value Measurements Using Fair Value Measurements Using (In thousands) Level 1 Level 2 Level 3 Assets/Liabilities at Fair Value Level 1 Level 2 Level 3 Assets/Liabilities at Fair Value Assets: Securities available for sale: U.S. Treasury securities $ 7,531 $ - $ - $ 7,531 $ 7,479 $ - $ - $ 7,479 Noncallable U.S. agency debt securities - 74,837 - 74,837 - 146,777 - 146,777 Callable U.S. agency debt securities and MBS - 3,195,869 - 3,195,869 - 1,950,331 - 1,950,331 Puerto Rico government obligations - 4,016 2,907 6,923 - 4,348 2,974 7,322 Private label MBS - - 8,839 8,839 - - 11,116 11,116 Other investments - - 650 650 - - 500 500 Equity securities 1,475 - - 1,475 1,428 - - 1,428 Derivatives, included in assets: Interest rate swap agreements - 1,762 - 1,762 - - - - Purchased interest rate cap agreements - 1 - 1 - 11 - 11 Interest rate lock commitments - 951 - 951 - 341 - 341 Forward contracts - 364 - 364 - - - - Forward loan sales commitments - 20 - 20 - 20 - 20 Liabilities: Derivatives, included in liabilities: Interest rate swap agreements - 1,789 - 1,789 - - - - Written interest rate cap agreements - 1 - 1 - 11 - 11 Forward contracts - 31 - 31 - 138 - 138 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 nine-month periods ended September 30, 2020 and 2019: Quarter Ended September 30, 2020 2019 Level 3 Instruments Only Securities Securities (In thousands) Available For Sale (1) Available For Sale (1) Beginning balance $ 12,643 $ 15,906 Total gains (losses) (realized/unrealized): Included in other comprehensive income 649 15 Included in earnings - ( 497) BSPR securities acquired 150 - Principal repayments and amortization ( 1,046) ( 414) Ending balance $ 12,396 $ 15,010 (1) Amounts mostly related to private label MBS. Nine-Month Period Ended September 30, 2020 2019 Level 3 Instruments Only Securities Securities (In thousands) Available For Sale (1) Available For Sale (1) Beginning balance $ 14,590 $ 17,238 Total gains (realized/unrealized): Included in other comprehensive income 1,615 46 Included in earnings ( 1,631) ( 497) BSPR securities acquired 150 - Principal repayments and amortization ( 2,328) ( 1,777) Ending balance $ 12,396 $ 15,010 (1) Amounts mostly related to private label MBS. The tables below present qualitative information for significant assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of September 30, 2020 and December 31, 2019: September 30, 2020 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Investment securities available-for-sale: Private label MBS $ 8,839 Discounted cash flows Discount rate 12.4% 12.4% 12.4% Prepayment rate 2.6% 13.7% 10.9% Projected cumulative loss rate 2.4% 26.3% 11.8% Puerto Rico government obligations 2,907 Discounted cash flows Discount rate 8.5% 8.5% 8.5% Projected cumulative loss rate 13.4% 13.4% 13.4% December 31, 2019 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Investment securities available-for-sale: Private label MBS $ 11,116 Discounted cash flows Discount rate 13.7% 13.7% 13.7% Prepayment rate 6.8% 10.3% 7.9% Projected cumulative loss rate 0.0% 7.4% 2.8% Puerto Rico government obligations 2,974 Discounted cash flows Discount rate 6.9% 6.9% 6.9% Prepayment rate 3.0% 3.0% 3.0% 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 during 2020 was based on a discounted cash flow methodology that considers the structure and terms of the underlying collateral. 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 expected recovery of PRHFA guarantee. Under this approach, all future cash flows (interest and principal) from the underlying collateral loans, adjusted by prepayments and the PDs and LGDs derived from the above-described methodology, are discounted at the internal rate of return as of the reporting date and compared to the amortized cost. The table below summarizes changes in unrealized gains and losses recorded in earnings for the quarters and nine-month periods ended September 30, 2020 and 2019 for Level 3 assets and liabilities that were still held at the end of each period: Changes in Unrealized Losses Quarter Ended September 30, Nine-Month Period Ended September 30, 2020 2019 2020 2019 Level 3 Instruments Only Securities Available for Sale Securities Available for Sale Securities Available for Sale Securities Available for Sale (In thousands) Changes in unrealized losses relating to assets still held at reporting date: OTTI on available-for-sale investment securities (credit component) (1) $ - $ ( 497) $ - $ ( 497) Provision for credit losses (2) - - ( 1,631) - Total $ - $ ( 497) $ ( 1,631) $ ( 497) Additionally, fair value is used on a nonrecurring basis to evaluate certain assets in accordance with GAAP. Adjustments to fair value usually result from the application of lower-of-cost or market accounting ( e.g. , loans held for sale carried at the lower-of-cost or fair value and repossessed assets) or write-downs of individual assets ( e.g. , goodwill and loans). As of September 30, 2020, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table: Carrying value as of September 30, 2020 Losses recorded for the Quarter Ended September 30, 2020 Losses recorded for the Nine-Month Period Ended September 30, 2020 Level 1 Level 2 Level 3 (In thousands) Loans receivable (1) $ - $ - $ 239,256 $ ( 193) $ ( 5,906) OREO (2) - - 89,049 ( 999) ( 1,775) (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. As of September 30, 2019, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table: Losses recorded Losses recorded for the Quarter Ended for the Nine-Month Period Ended Carrying value as of September 30, 2019 September 30, 2019 September 30, 2019 Level 1 Level 2 Level 3 (In thousands) Loans receivable (1) $ - $ - $ 211,406 $ ( 6,221) $ ( 14,546) OREO (2) - - 103,033 ( 1,311) ( 5,513) Loans held for sale (3) - - 6,906 - - (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) Represents nonaccrual commercial and construction loans transferred to held for sale in 2018 and still in inventory at period-end. The Corporation derived the fair value of these loans primarily from broker price opinions that the Corporation considered. Qualitative information regarding the fair value measurements for Level 3 financial instruments as of September 30, 2020 are as follows: September 30, 2020 Method Inputs Loans Income, Market, Comparable Sales, Discounted Cash Flows External appraised values; probability weighting of broker price opinions; management assumptions regarding market trends or other relevant factors OREO Income, Market, Comparable Sales, Discounted Cash Flows External appraised values; probability weighting of broker price opinions; management assumptions regarding market trends or other relevant factors The following tables present the carrying value, estimated fair value and estimated fair value level of the hierarchy of financial instruments as of September 30, 2020 and December 31, 2019: Total Carrying Amount in Statement of Financial Condition September 30, 2020 Fair Value Estimate September 30, 2020 Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks and money market investments (amortized cost) $ 2,469,507 $ 2,469,507 $ 2,469,507 $ - $ - Investment securities available for sale (fair value) 3,294,649 3,294,649 7,531 3,274,722 12,396 Investment securities held to maturity (amortized cost) 189,156 Less: allowance for credit losses on held to maturity securities ( 10,176) Investment securities held to maturity, net of allowance $ 178,980 166,974 - - 166,974 Equity Securities (fair value) 39,290 39,290 1,475 37,815 - Loans held for sale (lower of cost or market) 48,670 50,518 - 50,518 - Loans held for investment (amortized cost) 11,847,275 Less: allowance for credit losses for loans and finance leases ( 384,718) Loans held for investment, net of allowance $ 11,462,557 11,502,824 - - 11,502,824 Derivatives, included in assets (fair value) 3,098 3,098 - 3,098 - Liabilities: Deposits (amortized cost) $ 15,202,898 $ 15,243,104 $ - $ 15,243,104 $ - Securities sold under agreements to repurchase (amortized cost) 300,000 330,551 - 330,551 - Advances from FHLB (amortized cost) 490,000 498,322 - 498,322 - Other borrowings (amortized cost) 183,762 143,785 - - 143,785 Derivatives, included in liabilities (fair value) 1,821 1,821 - 1,821 - Total Carrying Amount in Statement of Financial Condition December 31, 2019 Fair Value Estimate December 31, 2019 Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks and money market investments (amortized cost) $ 644,099 $ 644,099 $ 644,099 $ - $ - Investment securities available for sale (fair value) 2,123,525 2,123,525 7,479 2,101,456 14,590 Investment securities held to maturity (amortized cost) 138,675 110,374 - - 110,374 Equity securities (fair value) 38,249 38,249 1,428 36,821 - Loans held for sale (lower of cost or market) 39,477 40,234 - 40,234 - Loans held for investment (amortized cost) 9,002,205 Less: allowance for credit losses for loans and finance leases ( 155,139) Loans held for investment, net of allowance $ 8,847,066 8,715,144 - - 8,715,144 Derivatives, included in assets (fair value) 372 372 - 372 - Liabilities: Deposits (amortized cost) $ 9,348,429 $ 9,372,591 $ - $ 9,372,591 $ - Securities sold under agreements to repurchase (amortized cost) 100,000 120,020 - 120,020 - Advances from FHLB (amortized cost) 570,000 578,498 - 578,498 - Other borrowings (amortized cost) 184,150 180,577 - - 180,577 Derivatives, included in liabilities (fair value) 149 149 - 149 - 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, mortgage servicing rights, core deposit, and other customer relationship intangibles, 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 | 9 Months Ended |
Sep. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE FROM CONTRACTS WITH CUSTOMER | NOTE 26 – REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue Recognition In accordance with ASC Topic 606, “Revenues 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. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC Topic 606, the Corporation performs the following five steps: (i) identifies the contract(s) with a customer; (ii) identifies the performance obligations in the contract; (iii) determines the transaction price; (iv) allocates the transaction price to the performance obligations in the contract; and (v) recognizes revenue when (or as) the Corporation satisfies a performance obligation. The Corporation only applies the five-step model to contracts when it is probable that the entity will collect the consideration to which it is entitled in exchange for the goods or services it transfers to the customer. 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 those that contain 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 nine-month periods ended September 30, 2020 and 2019: (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Quarter Ended September 30, 2020: Net interest income (1) $ 20,666 $ 54,323 $ 35,803 $ 18,577 $ 12,918 $ 6,409 $ 148,696 Service charges and fees on deposit accounts - 3,021 2,044 - 125 658 5,848 Insurance commissions - 1,377 - - 5 91 1,473 Merchant-related income - 1,941 - - - 276 2,217 Credit and debit card fees - 4,778 16 - ( 2) 350 5,142 Other service charges and fees 49 846 700 - 537 142 2,274 Not in scope of ASC Topic 606 (1) 6,707 352 78 5,457 393 ( 7) 12,980 Total non-interest income 6,756 12,315 2,838 5,457 1,058 1,510 29,934 Total Revenue $ 27,422 $ 66,638 $ 38,641 $ 24,034 $ 13,976 $ 7,919 $ 178,630 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Quarter Ended September 30, 2019: Net interest income (1) $ 16,991 $ 62,164 $ 25,699 $ 18,147 $ 14,977 $ 6,447 $ 144,425 Service charges and fees on deposit accounts - 3,771 1,443 - 172 722 6,108 Insurance commissions - 1,854 - - 22 107 1,983 Merchant-related income - 1,017 271 - - 310 1,598 Credit and debit card fees - 4,897 283 - 212 525 5,917 Other service charges and fees 67 828 300 - 169 76 1,440 Not in scope of ASC Topic 606 (1) 4,333 338 34 ( 433) 65 18 4,355 Total non-interest income 4,400 12,705 2,331 ( 433) 640 1,758 21,401 Total Revenue $ 21,391 $ 74,869 $ 28,030 $ 17,714 $ 15,617 $ 8,205 $ 165,826 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Nine-Month Period Ended September 30, 2020: Net interest income (1) $ 55,177 $ 165,609 $ 86,631 $ 55,549 $ 39,939 $ 19,650 $ 422,555 Service charges and fees on deposit accounts - 8,777 5,049 - 416 2,038 16,280 Insurance commissions - 6,933 - - 24 479 7,436 Merchant-related income - 3,535 - - - 570 4,105 Credit and debit card fees - 12,380 45 - 12 1,076 13,513 Other service charges and fees 215 1,882 1,591 89 1,366 1,393 6,536 Not in scope of ASC Topic 606 (1) (2) 14,628 3,127 988 13,688 716 9 33,156 Total non-interest income 14,843 36,634 7,673 13,777 2,534 5,565 81,026 Total Revenue $ 70,020 $ 202,243 $ 94,304 $ 69,326 $ 42,473 $ 25,215 $ 503,581 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Nine-Month Period Ended September 30, 2019: Net interest income (1) $ 52,051 $ 185,914 $ 69,171 $ 52,804 $ 47,328 $ 19,884 $ 427,152 Service charges and fees on deposit accounts - 10,704 4,355 - 458 2,194 17,711 Insurance commissions - 7,799 - - 51 408 8,258 Merchant-related income - 2,953 467 - - 789 4,209 Credit and debit card fees - 14,040 927 - 561 1,561 17,089 Other service charges and fees 141 2,651 1,042 - 526 875 5,235 Not in scope of ASC Topic 606 (1) 12,114 1,091 355 ( 287) 346 46 13,665 Total non-interest income 12,255 39,238 7,146 ( 287) 1,942 5,873 66,167 Total Revenue $ 64,306 $ 225,152 $ 76,317 $ 52,517 $ 49,270 $ 25,757 $ 493,319 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. For the nine-month period ended September 30, 2020, includes a $ 5.0 million benefit resulting from the final settlement of the Corporation’s business interruption insurance claim related to lost profits caused by Hurricanes Irma and Maria in 2017. This insurance recovery is presented as part of other non-interest income in the consolidated statements of income. For the nine-month periods ended September 30, 2020 and 2019, substantially all of the Corporation’s revenue within the scope of ASC Topic 606 was related to performance obligations satisfied at a point in time. The following is a discussion of revenues under the scope of ASC Topic 606. Service Charges and Fees on Deposit Accounts Service charges and fees on deposit accounts relate to fees generated from a variety of deposit products and services rendered to customers. Charges include, but are not limited to, overdraft fees, non-sufficient fund fees, dormant fees and monthly service charges. Such fees are recognized concurrently with the event on a daily basis or on a monthly basis depending upon the customer’s cycle date. These depository arrangements are considered day-to-day contracts that do not extend beyond the services performed, as customers have the right to terminate these contracts with no penalty or, if any, nonsubstantive penalties. Insurance Commissions For insurance commissions, which include regular and contingent commissions paid to the Corporation’s insurance agency, the agreements contain a performance obligation related to the sale/issuance of the policy and ancillary administrative post-issuance support. The performance obligations are satisfied when the policies are issued, and revenue is recognized at that point in time. In addition, contingent commission income may be considered to be constrained, as defined under ASC Topic 606. 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. The Corporation recognized revenue at the time that payments were confirmed and constraints were released in the amount of $ 3.3 million for the nine-month period ended September 30, 2020, compared to $ 3.0 million for the nine-month period ended September 30, 2019. Merchant-related Income For merchant-related income, the determination of which included the consideration of a 2015 sale of merchant contracts that involved sales of point of sale (“POS”) terminals and entry into a marketing alliance under a revenue-sharing agreement, the Corporation concluded that control of the POS terminals and merchant contracts was transferred to the customer at the contract’s inception. With respect to the related revenue-sharing agreement, the Corporation satisfies the marketing alliance performance obligation over the life of the contract, and recognizes the associated transaction price as the entity performs and any constraints over the variable consideration are resolved. Credit and Debit Card Fees Credit and debit card fees primarily represent revenues earned from interchange fees and ATM fees. Interchange and network revenues are earned on credit and debit card transactions conducted with payment networks. ATM fees are primarily earned as a result of surcharges assessed to non-FirstBank customers who use a FirstBank ATM. Such fees are generally recognized concurrently with the delivery of services on a daily basis. Other Fees Other fees primarily include revenues generated from wire transfers, lockboxes, and bank issuances of checks. The Corporation recognizes such fees concurrently with the event or on a monthly basis. Contract Balances A contract liability is an entity’s obligation to transfer goods or services to a customer in exchange for consideration from the customer. During 2019, the Bank entered into a growth agreement with an international card service association to expand the customer base and enhance product offerings. The contract requires the Bank to either launch a new debit card product by March 30, 2021 or maintain a ratio of over 50% of the portfolio with the related card service association by the end of year 2021. In connection with this agreement, the Corporation recognized a contract liability as the revenue is constrained to the fulfillment of either of the above conditions. In addition, as discussed above, during 2015, the Bank entered into a long-term strategic marketing alliance under a revenue-sharing agreement with another entity to which the Bank sold its merchant contracts portfolio and related POS terminals. Merchant services are marketed through FirstBank’s branches and offices in Puerto Rico and the Virgin Islands. Under the revenue-sharing agreement, FirstBank shares with this entity revenues generated by the merchant contracts over the term of the 10-year agreement. As of September 30, 2020 and December 31, 2019, these contract liabilities amounted to $2.2 million and $2.5 million, respectively, which will be recognized over the remaining term of the contracts. For the quarter and nine-month period ended September 30, 2020, the Corporation recognized revenue and its contract liabilities decreased by approximately $0.1 million and $0.3 million, respectively, due to the completion of performance over time. There were no changes in contract liabilities due to changes in transaction price estimates. A contract asset is the right to consideration for transferred goods or services when the amount is conditioned on something other than the passage of time. As of September 30, 2020 and December 31, 2019, there were no receivables 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 nine-month periods ended September 30, 2020 and 2019: Quarter Ended Nine-Month Period Ended September 30, September 30, (In thousands) 2020 2019 2020 2019 Beginning Balance $ 2,314 $ 1,909 $ 2,476 $ 2,071 Less: Amortizations ( 81) ( 81) ( 243) ( 243) Ending balance $ 2,233 $ 1,828 $ 2,233 $ 1,828 Other Except for the contract liabilities noted above, the Corporation did not have any significant performance obligations as of September 30, 2020. 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 | 9 Months Ended |
Sep. 30, 2020 | |
Supplemental Cash Flow Elements [Abstract] | |
SUPPLEMENTAL CASH FLOW INFORMATION | NOTE 27 – SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION Supplemental cash flow information is as follows for the indicated periods: Nine-Month Period Ended September 30, 2020 2019 (In thousands) Cash paid for: Interest on borrowings $ 71,859 $ 79,789 Income tax 13,200 10,238 Operating cash flow from operating leases 8,492 7,619 Non-cash investing and financing activities: Additions to OREO 6,608 29,670 Additions to auto and other repossessed assets 24,160 34,497 Capitalization of servicing assets 3,168 2,855 Loan securitizations 156,786 173,428 Loans held for investment transferred to held for sale 4,876 20,928 ROU assets obtained in exchange for operating lease liabilities 1,328 8,139 Receivable on unsettled securities sale 121,860 - Adoption of lease accounting standard: ROU assets operating leases - 57,178 Operating lease liabilities - 59,818 Acquisition (see Note 2): Cash consideration 1,277,626 - Fair value of assets acquired 5,562,152 - Liabilities assumed 4,290,829 - |
SEGMENT INFORMATION
SEGMENT INFORMATION | 9 Months Ended |
Sep. 30, 2020 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | NOTE 28 – 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 September 30, 2020, 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 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 retail banking services. The Virgin Islands Operations segment consists of all banking activities conducted by the Corporation in the USVI and BVI, including commercial and retail banking services. The accounting policies of the segments are the same as those referred to in Note 1 – Basis of Presentation and Significant Accounting Policies, in the audited consolidated financial statements of the Corporation for the year ended December 31, 2019, which are included in the 2019 Annual Report on Form 10-K and updates to significant accounting policies described in Note 1 – Basis of Presentation and Significant Accounting Policies, above. 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 table presents 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 September 30, 2020: Interest income $ 32,293 $ 60,157 $ 37,571 $ 12,572 $ 20,427 $ 7,382 $ 170,402 Net (charge) credit for transfer of funds ( 11,627) 3,514 ( 1,768) 11,972 ( 2,091) - - Interest expense - ( 9,348) - ( 5,967) ( 5,418) ( 973) ( 21,706) Net interest income 20,666 54,323 35,803 18,577 12,918 6,409 148,696 Provision for credit losses ( 11,614) ( 12,404) ( 19,139) - ( 1,679) ( 2,078) ( 46,914) Non-interest income (loss) 6,756 12,315 2,838 5,457 1,058 1,510 29,934 Direct non-interest expenses ( 7,659) ( 32,035) ( 6,251) ( 717) ( 8,387) ( 7,231) ( 62,280) Segment income (loss) $ 8,149 $ 22,199 $ 13,251 $ 23,317 $ 3,910 $ ( 1,390) $ 69,436 Average earnings assets $ 2,243,345 $ 2,197,601 $ 3,064,272 $ 4,725,125 $ 2,061,596 $ 466,315 $ 14,758,254 (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 September 30, 2019: Interest income $ 30,091 $ 55,772 $ 39,146 $ 15,671 $ 24,229 $ 7,386 $ 172,295 Net (charge) credit for transfer of funds ( 13,100) 16,557 ( 13,447) 11,411 ( 1,421) - - Interest expense - ( 10,165) - ( 8,935) ( 7,831) ( 939) ( 27,870) Net interest income 16,991 62,164 25,699 18,147 14,977 6,447 144,425 (Provision) release for credit losses ( 2,134) ( 11,187) 5,677 - ( 1,462) 1,708 ( 7,398) Non-interest income (loss) 4,400 12,705 2,331 ( 433) 640 1,758 21,401 Direct non-interest expenses ( 7,768) ( 30,282) ( 8,256) ( 740) ( 8,496) ( 7,105) ( 62,647) Segment income $ 11,489 $ 33,400 $ 25,451 $ 16,974 $ 5,659 $ 2,808 $ 95,781 Average earnings assets $ 2,141,383 $ 2,009,060 $ 2,487,409 $ 2,485,141 $ 1,963,559 $ 466,707 $ 11,553,259 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total Nine-Month Period Ended September 30, 2020 Interest income $ 89,353 $ 174,848 $ 102,225 $ 41,631 $ 63,754 $ 22,471 $ 494,282 Net (charge) credit for transfer of funds ( 34,176) 19,485 ( 15,594) 34,441 ( 4,156) - - Interest expense - ( 28,724) - ( 20,523) ( 19,659) ( 2,821) ( 71,727) Net interest income 55,177 165,609 86,631 55,549 39,939 19,650 422,555 Provision for credit losses ( 29,491) ( 56,254) ( 51,844) ( 2,765) ( 15,944) ( 6,996) ( 163,294) Non-interest income 14,843 36,634 7,673 13,777 2,534 5,565 81,026 Direct non-interest expenses ( 22,647) ( 89,659) ( 19,688) ( 2,133) ( 25,221) ( 21,970) ( 181,318) Segment income (loss) $ 17,882 $ 56,330 $ 22,772 $ 64,428 $ 1,308 $ ( 3,751) $ 158,969 Average earnings assets $ 2,076,419 $ 2,141,329 $ 2,684,803 $ 3,690,782 $ 2,025,482 $ 460,217 $ 13,079,032 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total Nine-Month Period Ended September 30, 2019 Interest income $ 91,493 $ 158,548 $ 114,643 $ 47,553 $ 73,350 $ 22,690 $ 508,277 Net (charge) credit for transfer of funds ( 39,442) 54,743 ( 45,472) 34,403 ( 4,232) - - Interest expense - ( 27,377) - ( 29,152) ( 21,790) ( 2,806) ( 81,125) Net interest income 52,051 185,914 69,171 52,804 47,328 19,884 427,152 (Provision) release for credit losses ( 9,241) ( 28,982) 12,665 - ( 7,764) 1,982 ( 31,340) Non-interest income (loss) 12,255 39,238 7,146 ( 287) 1,942 5,873 66,167 Direct non-interest expenses ( 25,810) ( 88,533) ( 26,869) ( 2,031) ( 25,641) ( 22,090) ( 190,974) Segment income $ 29,255 $ 107,637 $ 62,113 $ 50,486 $ 15,865 $ 5,649 $ 271,005 Average earnings assets $ 2,182,680 $ 1,914,372 $ 2,509,611 $ 2,429,576 $ 1,935,768 $ 470,236 $ 11,442,243 The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods: Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 Net income : Total income for segments $ 69,436 $ 95,781 $ 158,969 $ 271,005 Other operating expenses (1) ( 45,228) ( 30,186) ( 108,160) ( 85,180) Income before income taxes 24,208 65,595 50,809 185,825 Income tax (benefit) expense ( 4,405) 19,268 ( 1,326) 54,897 Total consolidated net income $ 28,613 $ 46,327 $ 52,135 $ 130,928 Average assets: Total average earning assets for segments $ 14,758,254 $ 11,553,259 $ 13,079,032 $ 11,442,243 Average non-earning assets 1,047,401 933,250 975,744 964,799 Total consolidated average assets $ 15,805,655 $ 12,486,509 $ 14,054,776 $ 12,407,042 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 | 9 Months Ended |
Sep. 30, 2020 | |
Commitments And Contingencies Disclosure [Abstract] | |
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES | NOTE 29 – REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES The Corporation and FirstBank are each subject to various regulatory capital requirements imposed by the 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 September 30, 2020 and December 31, 2019, 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 September 30, 2020, 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% 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. Under the Basel III rules, in order to be considered adequately capitalized and not subject to the above noted limitations, the Corporation is required to maintain: (i) a minimum Common Equity Tier 1 (“CET1”) capital to risk-weighted assets ratio of at least 4.5%, plus the 2.5% “capital conservation buffer,” resulting in a required minimum CET1 capital ratio of at least 7%; (ii) a minimum ratio of total Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer, resulting in a required minimum Tier 1 capital ratio of 8.5%; (iii) a minimum ratio of total Tier 1 plus Tier 2 capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer, resulting in a required minimum total capital ratio of 10.5%; and (iv) a required minimum leverage ratio of 4%, calculated as the ratio of Tier 1 capital to average on-balance sheet (non-risk adjusted) assets. On July 9, 2019, the Federal Reserve Board, the FDIC, and the Office of the Comptroller of the Currency (collectively “the agencies”) adopted a final rule that superseded certain regulatory capital transition rules and eliminates transition provisions that are no longer operative. The final rule was effective April 1, 2020, and eliminated: (i) the 10% CET1 capital deduction threshold, which applies individually to holdings of mortgage servicing assets, temporary difference deferred tax assets, and significant investments in the capital of unconsolidated financial institutions in the form of common stock; (ii) the 15% common equity tier 1 capital deduction threshold, which applies to the aggregate amount of such items; (iii) the 10% threshold for non-significant investments, which applies to holdings of regulatory capital of unconsolidated financial institutions; and (iv) the deduction treatment for significant investments in the capital of unconsolidated financial institutions that are not in the form of common stock. Instead, the final rule requires non-advanced approaches banking organizations to deduct from CET1 capital any amount of mortgage servicing assets, temporary difference deferred tax assets, and investments in the capital of unconsolidated financial institutions that individually exceeds 25% of CET1 capital of the banking organization (the 25% CET1 capital deduction threshold). The final rule retains the requirement that a banking organization must apply a 250% risk weight to non-deducted mortgage servicing assets and temporary difference deferred tax assets instead of the 100% risk weight previously allowed under transition rules. As part of its response to the impact of COVID-19, on March 31, 2020, the 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 (excluding PCD loans) 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 September 30, 2020, the capital measures of the Corporation and the Bank exclude the $ 62.3 million day 1 impact to retained earnings and 25% of the increase in the allowance for credit losses (as defined in the interim final rule) from January 1, 2020 to September 30, 2020. The federal financial regulatory agencies may take other measures affecting regulatory capital to address the COVID-19 pandemic, although the nature and impact of such measures cannot be predicted at this time. The acquired assets and off-balance sheet items of BSPR have been fully included and risk weighted in the regulatory capital positions determination of the Corporation and Firstbank as of September 30, 2020. However, following regulatory capital requirements, the quarterly average asset calculation used for the leverage ratio includes the dollar amounts of the acquired assets from the acquisition date through the end of the quarter, and the denominator for the number of days in the entire quarter, which resulted in a diluted quarterly average asset balance for the quarter ended September 30, 2020. The full effect in the leverage ratio of the assets acquired in the BSPR acquisition will be reflected in the regulatory capital position determination as of December 31, 2020. The regulatory capital positions of the Corporation and FirstBank as of September 30, 2020, which reflects the delay in the effect of CECL on regulatory capital, and December 31, 2019 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 September 30, 2020 Total Capital (to Risk-Weighted Assets) First BanCorp. $ 2,358,608 20.32% $ 928,727 8.0% N/A N/A FirstBank $ 2,300,760 19.83% $ 928,372 8.0% $ 1,160,465 10.0% CET1 Capital (to Risk-Weighted Assets) First BanCorp. $ 1,998,067 17.21% $ 522,409 4.5% N/A N/A FirstBank $ 1,846,628 15.91% $ 522,209 4.5% $ 754,302 6.5% Tier I Capital (to Risk-Weighted Assets) First BanCorp. $ 2,034,171 17.52% $ 696,545 6.0% N/A N/A FirstBank $ 2,154,628 18.57% $ 696,279 6.0% $ 928,372 8.0% Leverage ratio First BanCorp. $ 2,034,171 13.04% $ 623,885 4.0% N/A N/A FirstBank $ 2,154,628 13.83% $ 623,378 4.0% $ 779,223 5.0% As of December 31, 2019 Total Capital (to Risk-Weighted Assets) First BanCorp. $ 2,286,337 25.22% $ 725,236 8.0% N/A N/A FirstBank $ 2,242,262 24.74% $ 725,047 8.0% $ 906,309 10.0% CET1 Capital (to Risk-Weighted Assets) First BanCorp. $ 1,957,887 21.60% $ 407,946 4.5% N/A N/A FirstBank $ 1,820,571 20.09% $ 407,839 4.5% $ 589,101 6.5% Tier I Capital (to Risk-Weighted Assets) First BanCorp. $ 1,993,991 22.00% $ 543,927 6.0% N/A N/A FirstBank $ 2,128,571 23.49% $ 543,785 6.0% $ 725,047 8.0% Leverage ratio First BanCorp. $ 1,993,991 16.15% $ 493,786 4.0% N/A N/A FirstBank $ 2,128,571 17.26% $ 493,242 4.0% $ 616,552 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 September 30, 2020, commitments to extend credit amounted to approximately $ 2.0 billion, of which $ 1.1 billion relates to credit card loans. Commercial and financial standby letters of credit amounted to approximately $ 124.6 million. As of the date hereof, the amount of draws from unfunded loan commitments has not increased significantly due to the COVID-19 pandemic. As of September 30, 2020, 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 September 30, 2020, no such disclosures were necessary. |
FIRST BANCORP. (Holding Company
FIRST BANCORP. (Holding Company Only) Financial Information | 9 Months Ended |
Sep. 30, 2020 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
FIRST BANCORP. (Holding Company Only) Financial Information | NOTE 30 – 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 September 30, 2020 and December 31, 2019, and the results of its operations for the quarters and nine-month periods ended September 30, 2020 and 2019. Statements of Financial Condition (Unaudited) As of September 30, As of December 31, 2020 2019 (In thousands) Assets Cash and due from banks $ 11,155 $ 16,895 Money market investments 6,211 6,211 Other investment securities 285 285 Investment in First Bank Puerto Rico, at equity 2,345,385 2,362,182 Investment in First Bank Insurance Agency, at equity 40,264 24,995 Investment in FBP Statutory Trust I 1,951 1,963 Investment in FBP Statutory Trust II 3,561 3,561 Other assets 3,545 509 Total assets $ 2,412,357 $ 2,416,601 Liabilities and Stockholdersʼ Equity Liabilities: Other borrowings $ 183,762 $ 184,150 Accounts payable and other liabilities 3,313 4,378 Total liabilities 187,075 188,528 Stockholdersʼ equity 2,225,282 2,228,073 Total liabilities and stockholdersʼ equity $ 2,412,357 $ 2,416,601 Statements of Income (Unaudited) Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Income: Interest income on money market investments $ 12 $ 44 $ 60 $ 189 Dividend income from banking subsidiaries 14,482 7,750 41,370 28,500 Other income 51 70 399 216 14,545 7,864 41,829 28,905 Expense: Other borrowings 1,356 2,331 5,029 7,210 Other operating expenses 607 644 1,665 1,749 1,963 2,975 6,694 8,959 Gain on early extinguishment of debt 94 - 94 - Income before income taxes and equity in undistributed earnings of subsidiaries 12,676 4,889 35,229 19,946 Income tax expense 448 1,037 1,671 2,376 Equity in undistributed earnings of subsidiaries 16,385 42,475 18,577 113,358 Net income $ 28,613 $ 46,327 $ 52,135 $ 130,928 Other comprehensive (loss) income, net of tax ( 7,943) 7,562 38,563 45,539 Comprehensive income $ 20,670 $ 53,889 $ 90,698 $ 176,467 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2020 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 31 – SUBSEQUENT EVENTS During the third quarter of 2020, the Corporation offered a Voluntary Separation Program (“VSP”) to eligible employees in the Puerto Rico region as part of its integration process related to the BSPR acquisition. To allow for a transition period. the effective separation dates for eligible employees who accept the offer will be between the end of November 2020 and the end of April 2021. Since employees’ elections become irrevocable in the fourth quarter of 2020, the Corporation did not record any charge for this program in the third quarter of 2020. The Corporation currently estimates that total costs associated with the VSP will be in a range of $5.2 million to $8.0 million. The Corporation anticipates that approximately $1.8 million to $2.7 million of these costs will be recorded in the fourth quarter of 2020 based on the effective dates and the remainder will be amortized through the applicable dates in 2021. In addition, following the BSPR acquisition, the Corporations intends to consolidate 8 to 10 banking branches. The branch consolidations are expected to be completed in the first half of 2021. Management has reviewed all other the events occurring through the date of this report and other than the discussion of the COVID-19 pandemic included in Note 1 – Basis of Presentation and Significant Accounting Policies, above, there were no additional subsequent events that require additional disclosure or adjustment to amounts reported in the Corporation’s consolidated financial statements as of and for the quarter and nine-month period ended September 30, 2020. |
Significant Accounting (Policie
Significant Accounting (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Loans and Leases Receivable Disclosure [Line Items] | |
Troubled Debt Restructuring [Policy Text Block] | The Corporation’s loss mitigation programs for residential mortgage and consumer loans can provide for one or a combination of the following: movement of interest past due to the end of the loan, extension of the loan term, deferral of principal payments and reduction of interest rates either permanently or for a period of up to six years (increasing back in step-up rates). Additionally, in certain cases, the restructuring may provide for the forgiveness of contractually-due principal or interest. Uncollected interest is added to the principal at the end of the loan term at the time of the restructuring and not recognized as income until collected or when the loan is paid off. These programs are available only to those borrowers who have defaulted, or are likely to default, permanently on their loans and would lose their homes in a foreclosure action absent some lender concession. Nevertheless, if the Corporation is not reasonably assured that the borrower will comply with its contractual commitment, the property is foreclosed. Prior to permanently modifying a loan, the Corporation may enter into trial modifications with certain borrowers. Trial modifications generally represent a six-month 2.5 million of residential mortgage loans that were participating in or had been offered a trial modification. For the commercial real estate, commercial and industrial, and construction loan portfolios, at the time of a restructuring, the Corporation determines, on a loan-by-loan basis, whether a concession was granted for economic or legal reasons related to the borrower’s financial difficulty. Concessions granted for loans in these portfolios could include: reductions in interest rates to rates that are considered below market; extension of repayment schedules and maturity dates beyond the original contractual terms; waivers of borrower covenants; forgiveness of principal or interest; or other contractual changes that are considered to be concessions. The Corporation mitigates loan defaults for these loan portfolios through its collection function. The function’s objective is to minimize both early stage delinquencies and losses upon default of loans in these portfolios. In the case of the commercial and industrial, commercial mortgage, and construction loan portfolios, the Corporation’s Special Asset Group (“SAG”) focuses on strategies for the accelerated reduction of non-performing assets through note sales, short sales, loss mitigation programs, and sales of OREO. In addition, the Corporation extends, renews, and restructures loans with satisfactory credit profiles. Many commercial loan facilities are structured as lines of credit, which generally have one-year terms and, therefore, require annual renewals. Other facilities may be restructured or extended from time to time based upon changes in the borrower’s business needs, use of funds, and timing of completion of projects, and other factors. If the borrower is not deemed to have financial difficulties, extensions, renewals, and restructurings are done in the normal course of business and not considered to be concessions, and the loans continue to be recorded as performing. |
Residential Portfolio Segment [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
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. Judicial states ( i.e ., Puerto Rico, Florida and the USVI) require the foreclosure to be processed through the state’s court while foreclosure in non-judicial states ( i.e., the BVI) is processed without court intervention. Foreclosure timelines vary according to local jurisdiction law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediations, bankruptcy, court delays and title issues |
BASIS OF PRESENTATION (Tables)
BASIS OF PRESENTATION (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] | The following table illustrates the transition adjustment impact of ASC 326: (In thousands) January 1, 2020 ACL Under ASC 326 Pre-ASC 326 Impact of ASC 326 Adoption Date Adoption Adoption Assets: ACL on debt securities held to maturity $ 8,134 $ - $ 8,134 ACL on loans and finance leases Residential mortgage loans $ 94,643 $ 44,806 $ 49,837 Commercial mortgage loans 19,888 39,194 ( 19,306) Commercial and Industrial loans 29,929 15,198 14,731 Construction loans 3,167 2,370 797 Consumer loans 88,677 53,571 35,106 Total ACL on loans and finance leases $ 236,304 $ 155,139 $ 81,165 Liabilities: ACL on off-balance sheet credit exposure $ 3,922 $ - $ 3,922 Pre-tax effect in beginning retained earnings $ 248,360 $ 155,139 $ 93,221 Balance sheet reclassification (1) 434 Tax effect (31,333) After-tax effect in beginning retained earnings $ 62,322 |
BUSINESS COMBINATION (Tables)
BUSINESS COMBINATION (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the consideration paid and the preliminary estimated fair values of assets acquired and liabilities assumed of BSPR as of September 1, 2020 under the acquisition method of accounting: (In thousands) Total purchase price consideration (cash) $ 1,277,626 Fair value of assets acquired: Fair Value Cash and cash equivalents $ 1,684,252 Investment securities 1,167,225 Loans, net: Residential mortgage loans 807,637 Commercial mortgage loans 740,919 Commercial and Industrial loans 752,154 Consumer loans 214,206 Loans, net 2,514,916 Premises and equipment, net 12,499 Intangible assets 39,232 Other assets 144,008 Total assets and identifiable intangible assets acquired 5,562,132 Fair value of liabilities assumed: Deposits $ 4,194,940 Other liabilities 95,869 Total liabilities assumed 4,290,809 Fair value of net assets and identifiable intangible assets acquired 1,271,323 Goodwill $ 6,303 |
Business Acquisition, Pro Forma Information [Table Text Block] | The following table shows the amounts of revenues and net income included in 2020 results related to the operations of BSPR for the period after the acquisition: BSPR Results from September 1, 2020 to (In thousands) September 30, 2020 Net interest income $ 14,037 Non-interest income 1,975 Net loss (1) ( 22,256) Unaudited Pro Forma Results Nine-Month Period Ended Nine-Month Period Ended September 30, September 30, (In thousands) 2020 2019 Net interest income $ 544,286 $ 596,925 Non-interest income 102,242 97,430 Net income 96,643 181,487 |
EARNINGS PER COMMON SHARE (Tabl
EARNINGS PER COMMON SHARE (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of Earning Per Share [Table Text Block] | The calculations of earnings per common share for the quarters and nine-month periods ended September 30, 2020 and 2019 are as follows: Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands, except per share information) Net income $ 28,613 $ 46,327 $ 52,135 $ 130,928 Less: Preferred stock dividends ( 669) ( 669) ( 2,007) ( 2,007) Net income attributable to common stockholders $ 27,944 $ 45,658 $ 50,128 $ 128,921 Weighted-Average Shares: Average common shares outstanding 216,922 216,690 216,876 216,569 Average potential dilutive common shares 793 537 657 484 Average common shares outstanding - assuming dilution 217,715 217,227 217,533 217,053 Earnings per common share: Basic $ 0.13 $ 0.21 $ 0.23 $ 0.60 Diluted $ 0.13 $ 0.21 $ 0.23 $ 0.59 |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Restricted Stock Activity Under Omnibus Plan | The following table summarizes the restricted stock activity in the first nine months of 2020 under the Omnibus Plan: Nine-Month Period Ended September 30, 2020 Number of shares Weighted-Average of restricted Grant Date stock Fair Value Unvested shares outstanding at beginning of year 644,805 $ 8.51 Granted 905,307 4.15 Forfeited ( 3,086) 6.07 Vested ( 232,466) 7.23 Unvested shares outstanding as of September 30, 2020 1,314,560 $ 5.74 |
Performance Units Activity Under Omnibus Plan [Table Text Block] | The following table summarizes the performance units activity in the first nine months of 2020 under the Omnibus Plan: Nine-Month Period Ended (Number of units) September 30, 2020 Performance units at beginning of year 504,461 Additions 502,307 Performance units at September 30, 2020 1,006,768 |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings [Line Items] | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | The tables below present qualitative information for significant assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of September 30, 2020 and December 31, 2019: September 30, 2020 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Investment securities available-for-sale: Private label MBS $ 8,839 Discounted cash flows Discount rate 12.4% 12.4% 12.4% Prepayment rate 2.6% 13.7% 10.9% Projected cumulative loss rate 2.4% 26.3% 11.8% Puerto Rico government obligations 2,907 Discounted cash flows Discount rate 8.5% 8.5% 8.5% Projected cumulative loss rate 13.4% 13.4% 13.4% December 31, 2019 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Investment securities available-for-sale: Private label MBS $ 11,116 Discounted cash flows Discount rate 13.7% 13.7% 13.7% Prepayment rate 6.8% 10.3% 7.9% Projected cumulative loss rate 0.0% 7.4% 2.8% Puerto Rico government obligations 2,974 Discounted cash flows Discount rate 6.9% 6.9% 6.9% Prepayment rate 3.0% 3.0% 3.0% |
Debt Securities, Available-for-sale, Allowance for Credit Loss [Table Text Block] | The following table presents a rollforward by major security type for the quarter and nine-month period ended September 30, 2020 of the ACL on debt securities available-for-sale: Quarter Ended September 30, 2020 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ 1,323 $ 308 $ 1,631 Additions for securities for which no previous expected credit losses were recognized (provision for credit losses) - - - Addition for securities for which previous expected credit losses were recognized (provision for credit losses) - - - Net charge-offs ( 245) - ( 245) $ 1,078 $ 308 $ 1,386 Nine-Month Period Ended September 30, 2020 Private label MBS Puerto Rico Government Obligations Total (In thousands) Beginning Balance $ - $ - $ - Additions for securities for which no previous expected credit losses were recognized (provision for credit losses) - 308 308 Addition for securities for which previous expected credit losses were recognized (provision for credit losses) 1,323 - 1,323 Net charge-offs ( 245) - ( 245) $ 1,078 $ 308 $ 1,386 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Table Text Block] | The following table presents the activity in the ACL for debt securities held to maturity by major security type for the quarter and nine-month period ended September 30, 2020: Puerto Rico Municipal Bonds Quarter Ended Nine-Month Period Ended September 30, 2020 September 30, 2020 (In thousands) Beginning Balance $ 9,268 $ - Impact of adopting ASC 326 - 8,134 Initial allowance on PCD debt securities 1,269 1,269 Provision for credit losses ( 361) 773 $ 10,176 $ 10,176 |
Debt Securities Held To Maturity Purchase With Credit Deterioration [Table Text Block] | The following table reconciles the difference between the purchase price of the PCD held-to-maturity debt securities acquired in the BSPR acquisition and the par value: (In thousands) Puerto Rico Municipal Bonds Purchase price of debt securities at acquisition (initial fair value) $ 55,532 Allowance for credit losses at acquisition 1,269 Non-credit discount at acquisition 10,281 Par value of acquired debt securities at acquisition $ 67,082 |
Debt Securities, Held-to-maturity, Credit Quality Indicator [Table Text Block] | The following table summarizes the amortized cost of debt securities held-to-maturity as of September 30, 2020 and December 31, 2019, aggregated by credit quality indicator: Held to Maturity Puerto Rico Municipal Bonds September 30, December 31 (In thousands) 2020 2019 Risk Ratings: Pass $ 189,156 $ 138,675 Criticized: Special Mention - - Substandard - - Doubtful - - Loss - - Total $ 189,156 $ 138,675 |
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 OCI, allowance for credit losses, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of September 30, 2020 were as follows: September 30, 2020 Amortized cost Allowance for Credit Losses Fair value Gross Unrealized Weighted- gains losses average yield% (Dollars in thousands) U.S. Treasury securities: Due within one year $ 7,493 $ 38 $ - $ - $ 7,531 1.65 U.S. government-sponsored agencies' obligations: Due within one year 34,442 402 - - 34,844 1.82 After 1 to 5 years 544,175 813 958 - 544,030 0.80 After 5 to 10 years 117,940 671 181 - 118,430 1.41 After 10 years 21,820 - 144 - 21,676 0.65 Puerto Rico government obligations: After 5 to 10 years 4,000 16 - - 4,016 5.12 After 10 years (1) 4,043 - 828 308 2,907 6.97 United States and Puerto Rico government obligations 733,913 1,940 2,111 308 733,434 1.01 MBS: Freddie Mac (“FHLMC”) certificates: Due within one year 83 8 - - 91 4.86 After 5 to 10 years 66,337 2,939 - - 69,276 2.15 After 10 years 579,684 12,331 139 - 591,876 1.73 646,104 15,278 139 - 661,243 1.77 Ginnie Mae (“GNMA”) certificates: Due within one year 2 - - - 2 2.89 After 1 to 5 years 29,736 1,141 - - 30,877 2.92 After 5 to 10 years 44,804 121 107 - 44,818 0.61 After 10 years 690,171 13,154 330 - 702,995 1.52 764,713 14,416 437 - 778,692 1.52 Fannie Mae (“FNMA”) certificates: After 1 to 5 years 24,823 1,159 - - 25,982 2.80 After 5 to 10 years 114,332 5,882 - - 120,214 2.12 After 10 years 709,800 19,848 399 - 729,249 1.95 848,955 26,889 399 - 875,445 2.00 Collateralized mortgage obligations issued or guaranteed by the FHLMC, ` FNMA and GNMA: After 1 to 5 years 581 - 1 - 580 0.82 After 5 to 10 years 20,055 123 - - 20,178 0.80 After 10 years 214,437 1,375 224 - 215,588 1.87 235,073 1,498 225 - 236,346 1.77 Private label: After 10 years 13,547 - 3,630 1,078 8,839 2.22 Total MBS 2,508,392 58,081 4,830 1,078 2,560,565 1.77 Other After 1 to 5 years 650 - - - 650 2.94 Total investment securities available for sale $ 3,242,955 $ 60,021 $ 6,941 $ 1,386 $ 3,294,649 1.60 The amortized cost, gross unrealized gains and losses recorded in OCI, estimated fair value, and weighted-average yield of investment securities available for sale by contractual maturities as of December 31, 2019 were as follows: December 31, 2019 Amortized cost Gross Unrealized Fair value Weighted- gains losses average yield% (Dollars in thousands) U.S. Treasury securities: After 1 to 5 years $ 7,478 $ 1 $ - $ 7,479 1.65 U.S. government-sponsored agencies' obligations: Due within one year 93,299 103 106 93,296 1.67 After 1 to 5 years 142,513 676 52 143,137 2.12 After 5 to 10 years 63,764 165 150 63,779 2.33 After 10 years 24,624 - 116 24,508 2.00 Puerto Rico government obligations: After 5 to 10 years 4,000 348 - 4,348 5.12 After 10 years (1) 4,166 - 1,192 2,974 6.97 United States and Puerto Rico government obligations 339,844 1,293 1,616 339,521 2.11 MBS: FHLMC certificates: After 5 to 10 years 81,418 589 228 81,779 2.16 After 10 years 424,316 3,873 758 427,431 2.50 505,734 4,462 986 509,210 2.44 GNMA certificates: After 1 to 5 years 4,357 45 - 4,402 3.26 After 5 to 10 years 42,303 607 - 42,910 2.77 After 10 years 258,944 7,126 500 265,570 3.03 305,604 7,778 500 312,882 3.00 FNMA certificates: After 1 to 5 years 19,779 415 3 20,191 2.79 After 5 to 10 years 140,599 1,257 641 141,215 2.14 After 10 years 700,213 9,006 1,208 708,011 2.58 860,591 10,678 1,852 869,417 2.51 Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA: After 1 to 5 years 608 - 1 607 2.43 After 10 years 80,130 362 220 80,272 2.76 80,738 362 221 80,879 2.75 Private label: After 10 years 15,997 - 4,881 11,116 3.90 Total MBS 1,768,664 23,280 8,440 1,783,504 2.60 Other After 1 to 5 years 500 - - 500 2.95 Total investment securities available for sale $ 2,109,008 $ 24,573 $ 10,056 $ 2,123,525 2.52 |
Schedule Of Unrealized Loss On Investments [Table Text Block] | The following tables show the Corporation’s available-for-sale investment securities fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of September 30, 2020 and December 31, 2019. The tables also include debt securities for which an ACL was recorded as of September 30, 2020 or a credit loss was charged against the amortized cost basis of the debt security prior to the adoption of ASC 326 on January 1, 2020. As of September 30, 2020 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: Puerto Rico-government obligations $ - $ - $ 2,907 $ 828 $ 2,907 $ 828 U.S. Treasury and U.S. government agenciesʼ obligations 242,648 1,131 20,985 152 263,633 1,283 MBS: FNMA 147,286 399 - - 147,286 399 FHLMC 96,439 139 - - 96,439 139 GNMA 122,052 437 - - 122,052 437 Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA 80,135 139 10,023 86 90,158 225 Private label MBS - - 8,839 3,630 8,839 3,630 $ 688,560 $ 2,245 $ 42,754 $ 4,696 $ 731,314 $ 6,941 As of December 31, 2019 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: Puerto Rico-government obligations $ - $ - $ 2,974 $ 1,192 $ 2,974 $ 1,192 U.S. Treasury and U.S. government agenciesʼ obligations 45,073 172 99,764 252 144,837 424 MBS: FNMA 58,668 499 173,708 1,353 232,376 1,852 FHLMC 74,134 270 63,864 716 137,998 986 GNMA 79,145 472 7,203 28 86,348 500 Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA 21,873 221 - - 21,873 221 Private label MBS - - 11,116 4,881 11,116 4,881 $ 278,893 $ 1,634 $ 358,629 $ 8,422 $ 637,522 $ 10,056 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | Significant assumptions in the valuation of the private label MBS were as follows : As of As of September 30, 2020 December 31, 2019 Weighted Range Weighted Range Average Minimum Maximum Average Minimum Maximum Discount rate 12.4% 12.4% 12.4% 13.7% 13.7% 13.7% Prepayment rate 10.9% 2.6% 13.7% 7.9% 6.8% 10.3% Projected Cumulative Loss Rate 11.8% 2.4% 26.3% 2.8% 0.0% 7.4% |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | During the third quarter and first nine months of 2019, the Corporation recorded OTTI losses on available-for-sale debt securities as follows: Quarter Ended Nine-Month Period Ended September 30, September 30, 2019 2019 (In thousands) Total OTTI losses $ ( 557) $ ( 557) Portion of OTTI recognized in OCI 60 60 Net impairment losses recognized in earnings (1) $ ( 497) $ ( 497) (1) Prior to the adoption of CECL on January 1, 2020, credit-related impairment recognized in earnings was reported as part of net gain (loss) on investment securities in the consolidated statements of income rather than as a provision for credit losses. |
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 investment securities held to maturity as of September 30, 2020 and December 31, 2019 were as follows: September 30, 2020 Amortized cost Fair value Allowance for Credit Losses Gross Unrecognized (Dollars in thousands) Gains Losses Weighted- average yield% Puerto Rico municipal bonds: Due within one year $ 550 $ - $ 26 $ 524 $ 133 5.41 After 1 to 5 years 17,203 - 611 16,592 375 3.11 After 5 to 10 years 88,224 - 5,387 82,837 3,773 4.68 After 10 years 83,179 - 16,158 67,021 5,895 3.62 Total investment securities held to maturity $ 189,156 $ - $ 22,182 $ 166,974 $ 10,176 4.07 December 31, 2019 Amortized cost Fair value Gross Unrecognized (Dollars in thousands) Gains Losses Weighted- average yield% Puerto Rico municipal bonds: Due within one year $ 321 $ - $ 6 $ 315 5.84 After 1 to 5 years 8,264 - 736 7,528 5.18 After 5 to 10 years 56,511 - 8,646 47,865 5.77 After 10 years 73,579 - 18,913 54,666 5.44 Total investment securities held to maturity $ 138,675 $ - $ 28,301 $ 110,374 5.56 |
Schedule Of Unrealized Loss On Investments [Table Text Block] | The following tables show the Corporation’s held-to-maturity investments’ fair value and gross unrecognized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrecognized loss position, as of September 30, 2020 and December 31, 2019, including debt securities for which an ACL was recorded as of September 30, 2020: As of September 30, 2020 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 $ 55,643 $ 1,269 $ 111,331 $ 20,913 $ 166,974 $ 22,182 As of December 31, 2019 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 $ - $ - $ 110,374 $ 28,301 $ 110,374 $ 28,301 |
LOANS HELD FOR INVESTMENT (Tabl
LOANS HELD FOR INVESTMENT (Tables) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Accounts Notes And Loans Receivable [Line Items] | ||
Loan Portfolio Held for Investment [Table Text Block] | The following provides information about the loan portfolio held for investment as of the indicated dates: As of September 30, As of December 31, 2020 2019 (In thousands) Residential mortgage loans, mainly secured by first mortgages $ 3,636,713 $ 2,933,773 Construction loans 191,356 111,317 Commercial mortgage loans 2,220,277 1,444,586 Commercial and Industrial loans (1) (2) 3,226,843 2,230,876 Consumer loans 2,572,086 2,281,653 Loans held for investment (3)(4) 11,847,275 9,002,205 Allowance for credit losses on loans and finance leases ( 384,718) ( 155,139) Loans held for investment, net $ 11,462,557 $ 8,847,066 September 30, 2020 December 31, 2019 (In thousands) Residential mortgage loans $ 48,670 $ 39,477 | |
Corporation's Nonaccrual Status and Loans 90 Days or More Still Accruing [Table text Block] | The following tables present by portfolio classes the amortized cost basis of loans on nonaccrual status and loans past due 90 days or more and still accruing as of September 30, 2020 and December 31, 2019 and the interest income recognized on nonaccrual loans for the quarter and nine-month period ended September 30, 2020: As of September 30, 2020 Quarter Ended September 30, 2020 Nine-Month Period Ended September 30, 2020 As of December 31, 2019 Puerto Rico and Virgin Islands region Nonaccrual Loans with No ACL Nonaccrual Loans with ACL Total Nonaccrual Loans (2) Loans Past Due 90 days or more and Still Accruing (3) Interest Income Recognized on Nonaccrual Loans Interest Income Recognized on Nonaccrual Loans Total Nonaccrual Loans Loans Past Due 90 days or more and Still Accruing (3) (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA\VA government-guaranteed $ - $ - $ - $ 110,882 $ - $ - $ - $ 81,011 Conventional residential mortgage loans 9,697 98,600 108,297 40,595 269 835 108,117 40,208 Construction loans 956 12,134 13,090 - 19 61 9,782 - Commercial mortgage loans 11,437 18,214 29,651 3,328 35 142 40,076 2,222 Commercial and Industrial loans 6,445 13,444 19,889 1,014 24 67 18,458 7,061 Consumer Loans: Auto loans - 9,071 9,071 - 17 138 12,057 - Finance leases - 879 879 - 2 23 1,354 - Personal loans - 1,445 1,445 - 8 36 1,523 - Credit cards - - - 1,340 - - - 4,411 Other consumer loans - 3,003 3,003 - - 5 5,016 - Total loans held for investment (1) $ 28,535 $ 156,790 $ 185,325 $ 157,159 $ 374 $ 1,307 $ 196,383 $ 134,913 As of September 30, 2020 Quarter Ended September 30, 2020 Nine-Month Period Ended September 30, 2020 As of December 31, 2019 Florida region Nonaccrual Loans with No ACL Nonaccrual Loans with ACL Total Nonaccrual Loans Loans Past Due 90 days or more and Still Accruing Interest Income Recognized on Nonaccrual Loans Interest Income Recognized on Nonaccrual Loans Total Nonaccrual Loans Loans Past Due 90 days or more and Still Accruing (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA\VA government-guaranteed $ - $ - $ - $ 250 $ - $ - $ - $ 129 Conventional residential mortgage loans 190 14,310 14,500 - 19 134 13,291 - Construction loans - - - - - - - - Commercial mortgage loans - - - - - - - - Commercial and Industrial loans 247 746 993 - 19 52 315 - Consumer Loans: Auto loans - - - - - - 163 - Finance leases - - - - - - - - Personal loans - - - - - - 5 - Credit cards - - - - - - - - Other consumer loans - 472 472 1 - 4 511 - Total loans held for investment (1) $ 437 $ 15,528 $ 15,965 $ 251 $ 38 $ 190 $ 14,285 $ 129 As of September 30, 2020 Quarter Ended September 30, 2020 Nine-Month Period Ended September 30, 2020 As of December 31, 2019 Total Nonaccrual Loans with No ACL Nonaccrual Loans with ACL Total Nonaccrual Loans (2) Loans Past Due 90 days or more and Still Accruing (3) Interest Income Recognized on Nonaccrual Loans Interest Income Recognized on Nonaccrual Loans Total Nonaccrual Loans Loans Past Due 90 days or more and Still Accruing (3) (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA\VA government-guaranteed $ - $ - $ - $ 111,132 $ - $ - $ - $ 81,140 Conventional residential mortgage loans 9,887 112,910 122,797 40,595 288 969 121,408 40,208 Construction loans 956 12,134 13,090 - 19 61 9,782 - Commercial mortgage loans 11,437 18,214 29,651 3,328 35 142 40,076 2,222 Commercial and Industrial loans 6,692 14,190 20,882 1,014 43 119 18,773 7,061 Consumer Loans: Auto loans - 9,071 9,071 - 17 138 12,220 - Finance leases - 879 879 - 2 23 1,354 - Personal loans - 1,445 1,445 - 8 36 1,528 - Credit cards - - - 1,340 - - - 4,411 Other consumer loans - 3,475 3,475 1 - 9 5,527 - Total loans held for investment (1) $ 28,972 $ 172,318 $ 201,290 $ 157,410 $ 412 $ 1,497 $ 210,668 $ 135,042 | |
Corporation's Aging of the Loans Held for Investment by Portfolio Classes [Table text Block] | The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of September 30, 2020 is as follows: As of September 30, 2020 Puerto Rico and Virgin Islands region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) (3) (4) $ - $ 3,448 $ 110,882 $ 114,330 $ 47,296 $ 161,626 Conventional residential mortgage loans (2) (4) - 40,833 148,892 189,725 2,749,008 2,938,733 Commercial loans: Construction loans (4) 592 1,797 13,090 15,479 54,527 70,006 Commercial mortgage loans (4) 973 6,426 32,979 40,378 1,793,903 1,834,281 Commercial and Industrial loans 11,445 844 20,903 33,192 2,254,403 2,287,595 Consumer loans: Auto loans 14,224 2,784 9,071 26,079 1,198,284 1,224,363 Finance leases 5,528 1,608 879 8,015 450,366 458,381 Personal loans 3,556 2,426 1,445 7,427 380,133 387,560 Credit cards 1,085 810 1,340 3,235 324,414 327,649 Other consumer loans 1,183 1,134 3,003 5,320 138,687 144,007 Total loans held for investment $ 38,586 $ 62,110 $ 342,484 $ 443,180 $ 9,391,021 $ 9,834,201 As of September 30, 2020 Florida region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) $ - $ - $ 250 $ 250 $ 926 $ 1,176 Conventional residential mortgage loans (3) - 262 14,500 14,762 520,416 535,178 Commercial loans: Construction loans 4,320 - - 4,320 117,030 121,350 Commercial mortgage loans 1,195 354 - 1,549 384,447 385,996 Commercial and Industrial loans 1,535 644 993 3,172 936,076 939,248 Consumer loans: Auto loans 600 576 - 1,176 20,341 21,517 Finance leases - - - - - - Personal loans - - - - 133 133 Credit cards - - - - - - Other consumer loans 196 - 473 669 7,807 8,476 Total loans held for investment $ 7,846 $ 1,836 $ 16,216 $ 25,898 $ 1,987,176 $ 2,013,074 As of September 30, 2020 Total 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) (3) (4) $ - $ 3,448 $ 111,132 $ 114,580 $ 48,222 $ 162,802 Conventional residential mortgage loans (2) (4) - 41,095 163,392 204,487 3,269,424 3,473,911 Commercial loans: Construction loans (4) 4,912 1,797 13,090 19,799 171,557 191,356 Commercial mortgage loans (4) 2,168 6,780 32,979 41,927 2,178,350 2,220,277 Commercial and Industrial loans 12,980 1,488 21,896 36,364 3,190,479 3,226,843 Consumer loans: Auto loans 14,824 3,360 9,071 27,255 1,218,625 1,245,880 Finance leases 5,528 1,608 879 8,015 450,366 458,381 Personal loans 3,556 2,426 1,445 7,427 380,266 387,693 Credit cards 1,085 810 1,340 3,235 324,414 327,649 Other consumer loans 1,379 1,134 3,476 5,989 146,494 152,483 Total loans held for investment $ 46,432 $ 63,946 $ 358,700 $ 469,078 $ 11,378,197 $ 11,847,275 The Corporation’s aging of the loan portfolio held for investment by portfolio classes as of December 31, 2019 is as follows: As of December 31, 2019 Puerto Rico and Virgin Islands region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) (3) (4) $ - $ 2,068 $ 81,011 $ 83,079 $ 39,350 $ 122,429 Conventional residential mortgage loans (2) (4) - 83,308 148,325 231,633 2,013,525 2,245,158 Commercial loans: Construction loans (4) - 105 9,782 9,887 38,359 48,246 Commercial mortgage loans (4) - 2,681 42,298 44,979 1,034,921 1,079,900 Commercial and Industrial loans 1,454 105 25,519 27,078 1,364,335 1,391,413 Consumer loans: Auto loans 35,163 8,267 12,057 55,487 1,048,873 1,104,360 Finance leases 6,501 1,402 1,354 9,257 405,275 414,532 Personal loans 4,008 2,084 1,523 7,615 266,478 274,093 Credit cards 2,896 2,096 4,411 9,403 282,887 292,290 Other consumer loans 3,870 1,575 5,016 10,461 145,395 155,856 Total loans held for investment $ 53,892 $ 103,691 $ 331,296 $ 488,879 $ 6,639,398 $ 7,128,277 As of December 31, 2019 Florida region 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) (3) $ - $ - $ 129 $ 129 $ 1,351 $ 1,480 Conventional residential mortgage loans (2) (3) - 2,193 13,291 15,484 549,222 564,706 Commercial loans: Construction loans - - - - 63,071 63,071 Commercial mortgage loans (3) - 870 - 870 363,816 364,686 Commercial and Industrial loans 331 - 315 646 838,817 839,463 Consumer loans: Auto loans 1,270 272 163 1,705 28,790 30,495 Finance leases - - - - - - Personal loans - - 5 5 777 782 Credit cards - - - - - - Other consumer loans 147 2 511 660 8,585 9,245 Total loans held for investment $ 1,748 $ 3,337 $ 14,414 $ 19,499 $ 1,854,429 $ 1,873,928 As of December 31, 2019 Total 30-59 Days Past Due 60-89 Days Past Due 90 days or more Past Due (1) (2) Total Past Due Current Total loans held for investment (In thousands) Residential mortgage loans, mainly secured by first mortgages: FHA/VA government-guaranteed loans (2) (3) (4) $ - $ 2,068 $ 81,140 $ 83,208 $ 40,701 $ 123,909 Conventional residential mortgage loans (2) (4) - 85,501 161,616 247,117 2,562,747 2,809,864 Commercial loans: Construction loans (4) - 105 9,782 9,887 101,430 111,317 Commercial mortgage loans (4) - 3,551 42,298 45,849 1,398,737 1,444,586 Commercial and Industrial loans 1,785 105 25,834 27,724 2,203,152 2,230,876 Consumer loans: Auto loans 36,433 8,539 12,220 57,192 1,077,663 1,134,855 Finance leases 6,501 1,402 1,354 9,257 405,275 414,532 Personal loans 4,008 2,084 1,528 7,620 267,255 274,875 Credit cards 2,896 2,096 4,411 9,403 282,887 292,290 Other consumer loans 4,017 1,577 5,527 11,121 153,980 165,101 Total loans held for investment $ 55,640 $ 107,028 $ 345,710 $ 508,378 $ 8,493,827 $ 9,002,205 | |
Corporation's Credit Quality Indicators [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 September 30, 2020 and the amortized cost of commercial and construction loans by portfolio classes based on the internal credit-risk category as of December 31, 2019 was as follows: As of September 30, 2020 Puerto Rico and Virgin Islands region Term Loans As of December 31, 2019 Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total CONSTRUCTION Risk Ratings: Pass $ 11,715 $ 19,571 $ 1,814 $ 15,326 $ 1,923 $ 3,304 $ - $ 53,653 $ 35,680 Criticized: Special Mention - 780 - - - - - 780 - Substandard - 886 4,976 - 5,269 4,442 - 15,573 12,566 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 11,715 $ 21,237 $ 6,790 $ 15,326 $ 7,192 $ 7,746 $ - $ 70,006 $ 48,246 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 116,046 $ 286,759 $ 251,885 $ 213,998 $ 172,380 $ 468,307 $ 13 $ 1,509,388 $ 891,298 Criticized: Special Mention - 82,450 53,613 119,255 8,764 11,362 - 275,444 13,080 Substandard 192 97 - - 673 48,487 - 49,449 175,522 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 116,238 $ 369,306 $ 305,498 $ 333,253 $ 181,817 $ 528,156 $ 13 $ 1,834,281 $ 1,079,900 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 583,697 $ 421,939 $ 237,053 $ 223,065 $ 110,127 $ 264,373 $ 336,286 $ 2,176,540 $ 1,321,804 Criticized: Special Mention - - 622 1,753 83 29,537 28,288 60,283 39,327 Substandard 780 1,291 2,722 18,474 1,603 20,363 5,539 50,772 27,265 Doubtful - - - - - - - - 2,768 Loss - - - - - - - - 249 Total commercial and industrial loans $ 584,477 $ 423,230 $ 240,397 $ 243,292 $ 111,813 $ 314,273 $ 370,113 $ 2,287,595 $ 1,391,413 As of September 30, 2020 Term Loans As of December 31, 2019 Florida region Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total CONSTRUCTION Risk Ratings: Pass $ 58,285 $ 16,052 $ 46,581 $ - $ - $ - $ 432 $ 121,350 $ 63,071 Criticized: Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 58,285 $ 16,052 $ 46,581 $ - $ - $ - $ 432 $ 121,350 $ 63,071 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 32,808 $ 81,578 $ 42,980 $ 63,317 $ 29,515 $ 29,028 $ 24,503 $ 303,729 $ 364,370 Criticized: Special Mention - 30,780 6,782 15,181 10,764 17,234 1,200 81,941 - Substandard - - - - - 326 - 326 316 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 32,808 $ 112,358 $ 49,762 $ 78,498 $ 40,279 $ 46,588 $ 25,703 $ 385,996 $ 364,686 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 174,368 $ 265,819 $ 97,987 $ 90,122 $ 11,481 $ 54,088 $ 118,274 $ 812,139 $ 837,697 Criticized: Special Mention 5,736 61,703 12,083 6,353 - - - 85,875 - Substandard 38,759 - - - - 1,729 746 41,234 1,766 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial and industrial loans $ 218,863 $ 327,522 $ 110,070 $ 96,475 $ 11,481 $ 55,817 $ 119,020 $ 939,248 $ 839,463 As of September 30, 2020 Total Term Loans As of December 31, 2019 Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total CONSTRUCTION Risk Ratings: Pass $ 70,000 $ 35,623 $ 48,395 $ 15,326 $ 1,923 $ 3,304 $ 432 $ 175,003 $ 98,751 Criticized: Special Mention - 780 - - - - - 780 - Substandard - 886 4,976 - 5,269 4,442 - 15,573 12,566 Doubtful - - - - - - - - - Loss - - - - - - - - - Total construction loans $ 70,000 $ 37,289 $ 53,371 $ 15,326 $ 7,192 $ 7,746 $ 432 $ 191,356 $ 111,317 COMMERCIAL MORTGAGE Risk Ratings: Pass $ 148,854 $ 368,337 $ 294,865 $ 277,315 $ 201,895 $ 497,335 $ 24,516 $ 1,813,117 $ 1,255,668 Criticized: Special Mention - 113,230 60,395 134,436 19,528 28,596 1,200 357,385 13,080 Substandard 192 97 - - 673 48,813 - 49,775 175,838 Doubtful - - - - - - - - - Loss - - - - - - - - - Total commercial mortgage loans $ 149,046 $ 481,664 $ 355,260 $ 411,751 $ 222,096 $ 574,744 $ 25,716 $ 2,220,277 $ 1,444,586 COMMERCIAL AND INDUSTRIAL Risk Ratings: Pass $ 758,065 $ 687,758 $ 335,040 $ 313,187 $ 121,608 $ 318,461 $ 454,560 $ 2,988,679 $ 2,159,501 Criticized: Special Mention 5,736 61,703 12,705 8,106 83 29,537 28,288 146,158 39,327 Substandard 39,539 1,291 2,722 18,474 1,603 22,092 6,285 92,006 29,031 Doubtful - - - - - - - - 2,768 Loss - - - - - - - - 249 Total commercial and industrial loans $ 803,340 $ 750,752 $ 350,467 $ 339,767 $ 123,294 $ 370,090 $ 489,133 $ 3,226,843 $ 2,230,876 The following table presents the amortized cost of residential mortgage loans by origination year based on the original loan-to-value-ratio (LTV) and original credit scores as of September 30, 2020 and the amortized cost of residential mortgage loans by original LTV and original credit scores as of December 31, 2019: As of September 30, 2020 As of December 31, 2019 Term Loans RESIDENTIAL MORTGAGES Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total Puerto Rico and Virgin Islands region: FHA/VA government-guaranteed loans $ 235 $ 2,124 $ 2,900 $ 4,987 $ 10,406 $ 140,974 $ - $ 161,626 $ 122,429 Conventional residential mortgage loans: Original LTV Less than or equal to 90 percent 26,931 64,816 104,823 70,490 97,267 1,992,451 - 2,356,778 1,684,340 Greater than 90 percent but less than or equal to 100 percent 3,514 7,107 8,068 3,956 14,838 439,463 - 476,946 460,879 Greater than 100 percent - 943 5,480 3,116 7,416 88,054 - 105,009 99,939 Total residential mortgages in Puerto Rico and Virgin Islands region $ 30,680 $ 74,990 $ 121,271 $ 82,549 $ 129,927 $ 2,660,942 $ - $ 3,100,359 $ 2,367,587 Florida region: FHA/VA government-guaranteed loans $ - $ - $ - $ 287 $ - $ 889 $ - $ 1,176 $ 1,480 Conventional residential mortgage loans: Original LTV Less than or equal to 90 percent 22,317 53,217 63,939 92,677 85,259 198,874 - 516,283 549,850 Greater than 90 percent but less than or equal to 100 percent 6,108 2,041 2,956 4,416 2,336 1,038 - 18,895 14,796 Greater than 100 percent - - - - - - - - 60 Total residential mortgages in Florida region $ 28,425 $ 55,258 $ 66,895 $ 97,380 $ 87,595 $ 200,801 $ - $ 536,354 $ 566,186 Total: FHA/VA government-guaranteed loans $ 235 $ 2,124 $ 2,900 $ 5,274 $ 10,406 $ 141,863 $ - $ 162,802 $ 123,909 Conventional residential mortgage loans: Original LTV Less than or equal to 90 percent 49,248 118,033 168,762 163,167 182,526 2,191,325 - 2,873,061 2,234,190 Greater than 90 percent but less than or equal to 100 percent 9,622 9,148 11,024 8,372 17,174 440,501 - 495,841 475,675 Greater than 100 percent - 943 5,480 3,116 7,416 88,054 - 105,009 99,999 Total residential mortgages $ 59,105 $ 130,248 $ 188,166 $ 179,929 $ 217,522 $ 2,861,743 $ - $ 3,636,713 $ 2,933,773 As of September 30, 2020 As of December 31, 2019 Term Loans RESIDENTIAL MORTGAGES Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total Puerto Rico and Virgin Islands region: FHA/VA government-guaranteed loans $ 235 $ 2,124 $ 2,900 $ 4,987 $ 10,406 $ 140,974 $ - $ 161,626 $ 122,429 Conventional residential mortgage loans: Original FICO Score Less than 620 - 154 466 55 75 321,212 - 321,962 286,754 Greater than or equal to 620 and less than 680 1,873 3,093 8,052 7,703 8,526 494,428 - 523,675 416,766 Greater than or equal to 680 and less than 740 11,013 25,947 42,268 24,329 39,764 708,342 - 851,663 626,291 Greater than or equal to 740 17,559 43,672 67,585 45,475 71,156 995,986 - 1,241,433 915,347 Total residential mortgages in Puerto Rico and Virgin Islands region $ 30,680 $ 74,990 $ 121,271 $ 82,549 $ 129,927 $ 2,660,942 $ - $ 3,100,359 $ 2,367,587 Florida region: FHA/VA government-guaranteed loans $ - $ - $ - $ 287 $ - $ 889 $ - $ 1,176 $ 1,480 Conventional residential mortgage loans: Original FICO Score Less than 620 - - 2,518 - - 827 - 3,345 3,485 Greater than or equal to 620 and less than 680 2,789 5,087 3,643 9,519 11,497 17,311 - 49,846 51,164 Greater than or equal to 680 and less than 740 7,460 16,417 14,600 30,645 28,015 43,834 - 140,971 151,544 Greater than or equal to 740 18,176 33,754 46,134 56,929 48,083 137,940 - 341,016 358,513 Total residential mortgages in Florida region $ 28,425 $ 55,258 $ 66,895 $ 97,380 $ 87,595 $ 200,801 $ - $ 536,354 $ 566,186 Total: FHA/VA government-guaranteed loans $ 235 $ 2,124 $ 2,900 $ 5,274 $ 10,406 $ 141,863 $ - $ 162,802 $ 123,909 Conventional residential mortgage loans: Original FICO Score Less than 620 - 154 2,984 55 75 322,039 - 325,307 290,239 Greater than or equal to 620 and less than 680 4,662 8,180 11,695 17,222 20,023 511,739 - 573,521 467,930 Greater than or equal to 680 and less than 740 18,473 42,364 56,868 54,974 67,779 752,176 - 992,634 777,835 Greater than or equal to 740 35,735 77,426 113,719 102,404 119,239 1,133,926 - 1,582,449 1,273,860 Total residential mortgages $ 59,105 $ 130,248 $ 188,166 $ 179,929 $ 217,522 $ 2,861,743 $ - $ 3,636,713 $ 2,933,773 The following tables present the amortized cost of consumer loans by origination year based on original credit scores as of September 30, 2020 and consumer loans based on original credit scores as of December 31, 2019: CONSUMER As of September 30, 2020 Term Loans As of December 31, 2019 Puerto Rico and Virgin Islands region Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total Auto loans Original FICO score Less than 620 $ 31,391 $ 50,401 $ 25,674 $ 11,707 $ 8,184 $ 5,751 $ - $ 133,108 $ 126,540 Greater than or equal to 620 and less than 680 98,020 150,569 95,019 41,543 20,461 14,333 - 419,945 388,890 Greater than or equal to 680 and less than 740 97,642 131,719 79,695 36,045 19,964 9,589 - 374,654 333,734 Greater than or equal to 740 88,812 101,343 52,210 28,757 18,061 7,473 - 296,656 255,196 Total auto loans $ 315,865 $ 434,032 $ 252,598 $ 118,052 $ 66,670 $ 37,146 $ - $ 1,224,363 $ 1,104,360 Finance leases Original FICO score Less than 620 $ 2,254 $ 5,685 $ 4,471 $ 1,964 $ 574 $ 370 $ - $ 15,318 $ 15,852 Greater than or equal to 620 and less than 680 21,109 37,767 29,544 13,099 5,311 3,072 - 109,902 100,438 Greater than or equal to 680 and less than 740 38,443 61,025 49,789 19,918 11,924 5,531 - 186,630 170,034 Greater than or equal to 740 34,226 51,664 34,962 10,009 11,071 4,599 - 146,531 128,208 Total finance leases $ 96,032 $ 156,141 $ 118,766 $ 44,990 $ 28,880 $ 13,572 $ - $ 458,381 $ 414,532 Personal loans Original FICO score Less than 620 $ 6,726 $ 2,969 $ 2,325 $ 1,506 $ 1,138 $ 2,241 $ - $ 16,905 $ 8,197 Greater than or equal to 620 and less than 680 6,829 26,279 10,797 4,296 1,614 1,252 - 51,067 52,712 Greater than or equal to 680 and less than 740 23,047 70,853 33,440 17,803 10,158 6,359 - 161,660 114,147 Greater than or equal to 740 19,862 60,901 34,180 18,082 10,166 5,638 - 148,829 98,668 Unscorable 1,254 2,932 1,971 1,064 721 1,157 - 9,099 369 Total personal loans $ 57,718 $ 163,934 $ 82,713 $ 42,751 $ 23,797 $ 16,647 $ - $ 387,560 $ 274,093 Credit cards Original FICO score Less than 620 $ - $ - $ - $ - $ - $ - $ 13,350 $ 13,350 $ 11,247 Greater than or equal to 620 and less than 680 - - - - - - 61,980 61,980 57,643 Greater than or equal to 680 and less than 740 - - - - - - 142,009 142,009 126,977 Greater than or equal to 740 - - - - - - 107,539 107,539 96,423 Unscorable - - - - - - 2,771 2,771 - Total credit cards $ - $ - $ - $ - $ - $ - $ 327,649 $ 327,649 $ 292,290 Other consumer loans Original FICO score Less than 620 $ 5,252 $ 11,803 $ 3,162 $ 1,943 $ 755 $ 426 $ 3,239 $ 26,580 $ 28,251 Greater than or equal to 620 and less than 680 13,756 27,697 8,034 4,193 1,767 6,343 1,598 63,388 68,727 Greater than or equal to 680 and less than 740 9,571 15,438 5,295 2,468 944 2,326 2,754 38,796 41,914 Greater than or equal to 740 2,270 4,139 1,331 691 281 440 1,422 10,574 13,359 Unscorable - - - - - 1,785 2,884 4,669 3,605 Total other consumer loans $ 30,849 $ 59,077 $ 17,822 $ 9,295 $ 3,747 $ 11,320 $ 11,897 $ 144,007 $ 155,856 Total consumer loans in Puerto Rico and Virgin Islands region $ 500,464 $ 813,184 $ 471,899 $ 215,088 $ 123,094 $ 78,685 $ 339,546 $ 2,541,960 $ 2,241,131 CONSUMER As of September 30, 2020 Term Loans As of December 31, 2019 Florida region Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total Auto loans Original FICO score Less than 620 $ - $ 37 $ 985 $ 835 $ 708 $ 155 $ - $ 2,720 $ 3,857 Greater than or equal to 620 and less than 680 - 573 4,480 3,491 1,624 421 - 10,589 15,052 Greater than or equal to 680 and less than 740 - 440 3,237 1,585 601 150 - 6,013 8,590 Greater than or equal to 740 - 280 1,509 287 101 18 - 2,195 2,996 Total auto loans $ - $ 1,330 $ 10,211 $ 6,198 $ 3,034 $ 744 $ - $ 21,517 $ 30,495 Finance leases Original FICO score Less than 620 $ - $ - $ - $ - $ - $ - $ - $ - $ - Greater than or equal to 620 and less than 680 - - - - - - - - - Greater than or equal to 680 and less than 740 - - - - - - - - - Greater than or equal to 740 - - - - - - - - - Total finance leases $ - $ - $ - $ - $ - $ - $ - $ - $ - Personal loans Original FICO score Less than 620 $ - $ 7 $ - $ - $ - $ - $ - $ 7 $ 593 Greater than or equal to 620 and less than 680 8 - - - - - - 8 - Greater than or equal to 680 and less than 740 - 44 - - - - - 44 85 Greater than or equal to 740 4 - - 70 - - - 74 71 Unscorable - - - - - - - - 33 Total personal loans $ 12 $ 51 $ - $ 70 $ - $ - $ - $ 133 $ 782 Credit cards Original FICO score Less than 620 $ - $ - $ - $ - $ - $ - $ - $ - $ - Greater than or equal to 620 and less than 680 - - - - - - - - - Greater than or equal to 680 and less than 740 - - - - - - - - - Greater than or equal to 740 - - - - - - - - - Total credit cards $ - $ - $ - $ - $ - $ - $ - $ - $ - Other consumer loans Original FICO score Less than 620 $ 132 $ - $ - $ - $ - $ - $ 61 $ 193 $ 83 Greater than or equal to 620 and less than 680 190 - - 109 28 617 92 1,036 874 Greater than or equal to 680 and less than 740 179 - 42 50 325 1,189 507 2,292 2,559 Greater than or equal to 740 - - - 25 221 2,674 2,035 4,955 5,573 Unscorable - - - - - - - - 156 Total other consumer loans $ 501 $ - $ 42 $ 184 $ 574 $ 4,480 $ 2,695 $ 8,476 $ 9,245 Total consumer loans in Florida region $ 513 $ 1,381 $ 10,253 $ 6,452 $ 3,608 $ 5,224 $ 2,695 $ 30,126 $ 40,522 CONSUMER As of September 30, 2020 Term Loans As of December 31, 2019 Total Amortized Cost Basis by Origination Year (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Total Auto loans Original FICO score Less than 620 $ 31,391 $ 50,438 $ 26,659 $ 12,542 $ 8,892 $ 5,906 $ - $ 135,828 $ 130,397 Greater than or equal to 620 and less than 680 98,020 151,142 99,499 45,034 22,085 14,754 - 430,534 403,942 Greater than or equal to 680 and less than 740 97,642 132,159 82,932 37,630 20,565 9,739 - 380,667 342,324 Greater than or equal to 740 88,812 101,623 53,719 29,044 18,162 7,491 - 298,851 258,192 Total auto loans $ 315,865 $ 435,362 $ 262,809 $ 124,250 $ 69,704 $ 37,890 $ - $ 1,245,880 $ 1,134,855 Finance leases Original FICO score Less than 620 $ 2,254 $ 5,685 $ 4,471 $ 1,964 $ 574 $ 370 $ - $ 15,318 $ 15,852 Greater than or equal to 620 and less than 680 21,109 37,767 29,544 13,099 5,311 3,072 - 109,902 100,438 Greater than or equal to 680 and less than 740 38,443 61,025 49,789 19,918 11,924 5,531 - 186,630 170,034 Greater than or equal to 740 34,226 51,664 34,962 10,009 11,071 4,599 - 146,531 128,208 Total finance leases $ 96,032 $ 156,141 $ 118,766 $ 44,990 $ 28,880 $ 13,572 $ - $ 458,381 $ 414,532 Personal loans Original FICO score Less than 620 $ 6,726 $ 2,976 $ 2,325 $ 1,506 $ 1,138 $ 2,241 $ - $ 16,912 $ 8,790 Greater than or equal to 620 and less than 680 6,837 26,279 10,797 4,296 1,614 1,252 - 51,075 52,712 Greater than or equal to 680 and less than 740 23,047 70,897 33,440 17,803 10,158 6,359 - 161,704 114,232 Greater than or equal to 740 19,866 60,901 34,180 18,152 10,166 5,638 - 148,903 98,739 Unscorable 1,254 2,932 1,971 1,064 721 1,157 - 9,099 402 Total personal loans $ 57,730 $ 163,985 $ 82,713 $ 42,821 $ 23,797 $ 16,647 $ - $ 387,693 $ 274,875 Credit cards Original FICO score Less than 620 $ - $ - $ - $ - $ - $ - $ 13,350 $ 13,350 $ 11,247 Greater than or equal to 620 and less than 680 - - - - - - 61,980 61,980 57,643 Greater than or equal to 680 and less than 740 - - - - - - 142,009 142,009 126,977 Greater than or equal to 740 - - - - - - 107,539 107,539 96,423 Unscorable - - - - - - 2,771 2,771 - Total credit cards $ - $ - $ - $ - $ - $ - $ 327,649 $ 327,649 $ 292,290 Other consumer loans Original FICO score Less than 620 $ 5,384 $ 11,803 $ 3,162 $ 1,943 $ 755 $ 426 $ 3,300 $ 26,773 $ 28,334 Greater than or equal to 620 and less than 680 13,946 27,697 8,034 4,302 1,795 6,960 1,690 64,424 69,601 Greater than or equal to 680 and less than 740 9,750 15,438 5,337 2,518 1,269 3,515 3,261 41,088 44,473 Greater than or equal to 740 2,270 4,139 1,331 716 502 3,114 3,457 15,529 18,932 Unscorable - - - - - 1,785 2,884 4,669 3,761 Total other consumer loans $ 31,350 $ 59,077 $ 17,864 $ 9,479 $ 4,321 $ 15,800 $ 14,592 $ 152,483 $ 165,101 Total consumer loans $ 500,977 $ 814,565 $ 482,152 $ 221,540 $ 126,702 $ 83,909 $ 342,241 $ 2,572,086 $ 2,281,653 | |
Collateral Pledged [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Loan Portfolio Held for Investment [Table Text Block] | The following tables present information about collateral dependent loans that were individually evaluated for purposes of determining the ACL as of September 30, 2020: | Collateral Dependent Loans - With Specific Allowance Collateral Dependent Loans - With No Related Specific Allowance Collateral Dependent Loans - Total Puerto Rico and Virgin Islands region Amortized Cost (1) Related Specific Allowance Amortized Cost (1) Amortized Cost (1) Related Specific Allowance (In thousands) Residential mortgage loans: FHA/VA government-guaranteed loans $ - $ - $ - $ - $ - Conventional residential mortgage loans 99,839 9,935 9,750 109,589 9,935 Commercial loans: Construction loans 6,036 491 2,686 8,722 491 Commercial mortgage loans 17,978 2,572 39,005 56,983 2,572 Commercial and Industrial loans 30,405 6,475 16,600 47,005 6,475 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans 146 5 - 146 5 Credit cards - - - - - Other consumer loans 983 85 - 983 85 $ 155,387 $ 19,563 $ 68,041 $ 223,428 $ 19,563 Collateral Dependent Loans - With Specific Allowance Collateral Dependent Loans - With No Related Specific Allowance Collateral Dependent Loans - Total Florida region Amortized Cost (1) Related Specific Allowance Amortized Cost (1) Amortized Cost (1) Related Specific Allowance (In thousands) Residential mortgage loans: FHA/VA government-guaranteed loans $ - $ - $ - $ - $ - Conventional residential mortgage loans 9,376 1,327 - 9,376 1,327 Commercial loans: Construction loans - - - - - Commercial mortgage loans - - 5,211 5,211 - Commercial and Industrial loans 746 316 247 993 316 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans - - - - - Credit cards - - - - - Other consumer loans 248 34 - 248 34 $ 10,370 $ 1,677 $ 5,458 $ 15,828 $ 1,677 Collateral Dependent Loans - With Specific Allowance Collateral Dependent Loans - With No Related Specific Allowance Collateral Dependent Loans - Total Total Amortized Cost (1) Related Specific Allowance Amortized Cost (1) Amortized Cost (1) Related Specific Allowance (In thousands) Residential mortgage loans: FHA/VA government-guaranteed loans $ - $ - $ - $ - $ - Conventional residential mortgage loans 109,215 11,262 9,750 118,965 11,262 Commercial loans: Construction loans 6,036 491 2,686 8,722 491 Commercial mortgage loans 17,978 2,572 44,216 62,194 2,572 Commercial and Industrial loans 31,151 6,791 16,847 47,998 6,791 Consumer loans: Auto loans - - - - - Finance leases - - - - - Personal loans 146 5 - 146 5 Credit cards - - - - - Other consumer loans 1,231 119 - 1,231 119 $ 165,757 $ 21,240 $ 73,499 $ 239,256 $ 21,240 |
TDR [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Troubled Debt Restructurings On Financing Receivables [Table Text Block] | Selected information on the Corporation’s TDR loans held for investment based on the amortized cost by loan class and modification type is summarized in the following tables as of the indicated dates: | As of September 30, 2020 Puerto Rico and Virgin Islands region 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 $ 17,837 $ 11,288 $ 213,327 $ - $ 222 $ 66,181 $ 308,855 Construction loans 22 1,759 1,523 - - 190 3,494 Commercial mortgage loans 1,494 1,391 35,798 - 16,546 6,867 62,096 Commercial and Industrial loans 543 12,440 15,708 - 18,134 36,445 83,270 Consumer loans: Auto loans - 550 5,503 - - 6,212 12,265 Finance leases - 22 715 - - 611 1,348 Personal loans 22 17 627 - - 294 960 Credit cards - - 2,548 18 - - 2,566 Other consumer loans 1,751 1,074 566 196 - 341 3,928 Total Troubled Debt Restructurings in Puerto Rico and Virgin Islands region $ 21,669 $ 28,541 $ 276,315 $ 214 $ 34,902 $ 117,141 $ 478,782 As of September 30, 2020 Florida region 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 $ 995 $ 405 $ 1,959 $ - $ - $ 24 $ 3,383 Construction loans - - - - - - - Commercial mortgage loans 2,868 840 1,796 - - - 5,504 Commercial and Industrial loans - - - - - 247 247 Consumer loans: Auto loans - 61 18 - - - 79 Finance leases - - - - - - - Personal loans - - - - - - - Credit cards - - - - - - - Other consumer loans 38 - 175 - - 407 620 Total Troubled Debt Restructurings in Florida Region $ 3,901 $ 1,306 $ 3,948 $ - $ - $ 678 $ 9,833 As of September 30, 2020 Total 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 $ 18,832 $ 11,693 $ 215,286 $ - $ 222 $ 66,205 $ 312,238 Construction loans 22 1,759 1,523 - - 190 3,494 Commercial mortgage loans 4,362 2,231 37,594 - 16,546 6,867 67,600 Commercial and Industrial loans 543 12,440 15,708 - 18,134 36,692 83,517 Consumer loans: Auto loans - 611 5,521 - - 6,212 12,344 Finance leases - 22 715 - - 611 1,348 Personal loans 22 17 627 - - 294 960 Credit cards - - 2,548 18 - - 2,566 Other consumer loans 1,789 1,074 741 196 - 748 4,548 Total Troubled Debt Restructurings $ 25,570 $ 29,847 $ 280,263 $ 214 $ 34,902 $ 117,819 $ 488,615 As of December 31, 2019 Puerto Rico and Virgin Islands region 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 $ 18,561 $ 11,188 $ 219,618 $ - $ 142 $ 63,638 $ 313,147 Construction loans 24 2,469 1,639 - - 189 4,321 Commercial mortgage loans 909 1,414 39,131 - 19,848 8,149 69,451 Commercial and Industrial loans 579 16,160 12,077 142 692 36,884 66,534 Consumer loans: Auto loans - 801 7,374 - - 6,249 14,424 Finance leases - 40 1,066 - - 426 1,532 Personal loans 26 43 845 - - 159 1,073 Credit cards - - 2,767 24 - - 2,791 Other consumer loans 2,020 1,196 770 180 - 337 4,503 Total Troubled Debt Restructurings in Puerto Rico and Virgin Island region $ 22,119 $ 33,311 $ 285,287 $ 346 $ 20,682 $ 116,031 $ 477,776 As of December 31, 2019 Florida region 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 $ 1,009 $ 412 $ 2,049 $ - $ - $ 32 $ 3,502 Construction loans - - - - - - - Commercial mortgage loans 2,901 862 1,765 - - - 5,528 Commercial and Industrial loans - - - - - 315 315 Consumer loans: Auto loans - 97 19 - - - 116 Finance leases - - - - - - - Personal loans - - - - - - - Credit cards - - - - - - - Other consumer loans 39 - 183 - - 538 760 Total Troubled Debt Restructurings in Florida region $ 3,949 $ 1,371 $ 4,016 $ - $ - $ 885 $ 10,221 As of December 31, 2019 Total 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 $ 19,570 $ 11,600 $ 221,667 $ - $ 142 $ 63,670 $ 316,649 Construction loans 24 2,469 1,639 - - 189 4,321 Commercial mortgage loans 3,810 2,276 40,896 - 19,848 8,149 74,979 Commercial and Industrial loans 579 16,160 12,077 142 692 37,199 66,849 Consumer loans: Auto loans - 898 7,393 - - 6,249 14,540 Finance leases - 40 1,066 - - 426 1,532 Personal loans 26 43 845 - - 159 1,073 Credit cards - - 2,767 24 - - 2,791 Other consumer loans 2,059 1,196 953 180 - 875 5,263 Total Troubled Debt Restructurings $ 26,068 $ 34,682 $ 289,303 $ 346 $ 20,682 $ 116,916 $ 487,997 The following table presents the Corporation's TDR loans held for investment activity for the indicated periods: Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Beginning balance of TDRs $ 496,207 $ 582,389 $ 487,997 $ 582,647 New TDRs 3,187 22,111 31,733 54,531 Increases to existing TDRs 2,210 125 5,821 1,647 Charge-offs post modification ( 4,548) ( 2,505) ( 8,063) ( 7,418) Foreclosures ( 309) ( 2,716) ( 1,947) ( 9,637) Paid-off, partial payments and other (1) ( 8,132) ( 103,566) ( 26,926) ( 125,932) Ending balance of TDRs $ 488,615 $ 495,838 $ 488,615 $ 495,838 The following tables provide a breakdown of the TDR loans held for investment by those in accrual and nonaccrual status as of the indicated dates: September 30, 2020 Puerto Rico and Virgin Islands region Florida region Total Accrual Nonaccrual Total TDRs Accrual Nonaccrual Total TDRs Accrual Nonaccrual (1) Total TDRs (In thousands) Conventional residential mortgage loans $ 254,199 $ 54,656 $ 308,855 $ 3,383 $ - $ 3,383 $ 257,582 $ 54,656 $ 312,238 Construction loans 2,542 952 3,494 - - - 2,542 952 3,494 Commercial mortgage loans 43,646 18,450 62,096 5,504 - 5,504 49,150 18,450 67,600 Commercial and Industrial loans 74,390 8,880 83,270 - 247 247 74,390 9,127 83,517 Consumer loans: Auto loans 6,983 5,282 12,265 79 - 79 7,062 5,282 12,344 Finance leases 1,340 8 1,348 - - - 1,340 8 1,348 Personal loans 960 - 960 - - - 960 - 960 Credit Cards 2,566 - 2,566 - - - 2,566 - 2,566 Other consumer loans 3,497 431 3,928 583 37 620 4,080 468 4,548 Total Troubled Debt Restructurings $ 390,123 $ 88,659 $ 478,782 $ 9,549 $ 284 $ 9,833 $ 399,672 $ 88,943 $ 488,615 December 31, 2019 Puerto Rico and Virgin Islands region Florida region Total Accrual Nonaccrual Total TDRs Accrual Nonaccrual Total TDRs Accrual Nonaccrual (1) Total TDRs (In thousands) Conventional residential mortgage loans $ 262,244 $ 50,903 $ 313,147 $ 3,502 $ - $ 3,502 $ 265,746 $ 50,903 $ 316,649 Construction loans 3,238 1,083 4,321 - - - 3,238 1,083 4,321 Commercial mortgage loans 45,534 23,917 69,451 5,528 - 5,528 51,062 23,917 74,979 Commercial and Industrial loans 59,689 6,845 66,534 - 315 315 59,689 7,160 66,849 Consumer loans: Auto loans 8,440 5,984 14,424 116 - 116 8,556 5,984 14,540 Finance leases 1,502 30 1,532 - - - 1,502 30 1,532 Personal loans 1,052 21 1,073 - - - 1,052 21 1,073 Credit Cards 2,791 - 2,791 - - - 2,791 - 2,791 Other consumer loans 3,898 605 4,503 723 37 760 4,621 642 5,263 Total Troubled Debt Restructurings $ 388,388 $ 89,388 $ 477,776 $ 9,869 $ 352 $ 10,221 $ 398,257 $ 89,740 $ 487,997 Loan modifications that are considered TDR loans completed during the quarters and nine-month periods ended September 30, 2020 and 2019 were as follows: Quarter Ended September 30, 2020 Puerto Rico and Virgin Island region Florida region Total Number of contracts Pre-modification Amortized Cost Post-modification Amortized Cost 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 20 $ 2,070 $ 1,938 - $ - $ - 20 $ 2,070 $ 1,938 Construction loans - - - - - - - - - Commercial mortgage loans - - - - - - - - - Commercial and Industrial loans - - - - - - - - - Consumer loans: Auto loans 37 658 655 - - - 37 658 655 Finance leases 4 54 54 - - - 4 54 54 Personal loans 7 60 60 - - - 7 60 60 Credit Cards 46 224 224 - - - 46 224 224 Other consumer loans 54 312 233 1 23 23 55 335 256 Total Troubled Debt Restructurings 168 $ 3,378 $ 3,164 1 $ 23 $ 23 169 $ 3,401 $ 3,187 Nine-Month Period Ended September 30, 2020 Puerto Rico and Virgin Island region Florida region Total Number of contracts Pre-modification Amortized Cost Post-modification Amortized Cost 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 72 $ 6,427 $ 5,722 - $ - $ - 72 $ 6,427 $ 5,722 Construction loans - - - - - - - - - Commercial mortgage loans 2 75 81 - - - 2 75 81 Commercial and Industrial loans 6 22,064 22,064 - - - 6 22,064 22,064 Consumer loans: Auto loans 133 2,102 2,091 - - - 133 2,102 2,091 Finance leases 29 408 408 - - - 29 408 408 Personal loans 23 202 200 - - - 23 202 200 Credit Cards 143 709 709 - - - 143 709 709 Other consumer loans 139 507 435 1 23 23 140 530 458 Total Troubled Debt Restructurings 547 $ 32,494 $ 31,710 1 $ 23 $ 23 548 $ 32,517 $ 31,733 Quarter Ended September 30, 2019 Puerto Rico and Virgin Island region Florida region Total Number of contracts Pre-modification Amortized Cost Post-modification Amortized Cost 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 21 $ 2,233 $ 2,115 - $ - $ - 21 $ 2,233 $ 2,115 Construction loans - - - - - - - - - Commercial mortgage loans 5 17,344 17,282 - - - 5 17,344 17,282 Commercial and Industrial loans 1 236 236 - - - 1 236 236 Consumer loans: Auto loans 70 1,205 1,206 - - - 70 1,205 1,206 Finance leases 12 202 202 - - - 12 202 202 Personal loans 13 101 102 - - - 13 101 102 Credit Cards 37 207 207 - - - 37 207 207 Other consumer loans 213 740 761 - - - 213 740 761 Total Troubled Debt Restructurings 372 $ 22,268 $ 22,111 - $ - $ - 372 $ 22,268 $ 22,111 Nine-Month Period Ended September 30, 2019 Puerto Rico and Virgin Island region Florida region Total Number of contracts Pre-modification Amortized Cost Post-modification Amortized Cost 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 87 $ 9,585 $ 9,280 - $ - $ - 87 $ 9,585 $ 9,280 Construction loans 4 118 117 - - - 4 118 117 Commercial mortgage loans 11 40,374 38,136 - - - 11 40,374 38,136 Commercial and Industrial loans 7 439 438 - - - 7 439 438 Consumer loans: - - - - - - Auto loans 205 3,294 3,261 3 33 33 208 3,327 3,294 Finance leases 33 646 643 - - - 33 646 643 Personal loans 45 413 411 - - - 45 413 411 Credit Cards 104 568 568 - - - 104 568 568 Other consumer loans 436 1,600 1,644 - - - 436 1,600 1,644 Total Troubled Debt Restructurings 932 $ 57,037 $ 54,498 3 $ 33 $ 33 935 $ 57,070 $ 54,531 Loan modifications considered TDR loans that defaulted during the quarters and nine-month periods ended September 30, 2020 and 2019, and had become TDR during the 12-months preceding the default date, were as follows: Quarter Ended September 30, 2020 2019 Puerto Rico and Virgin Islands region Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans 2 $ 253 5 $ 1,706 Construction loans - - - - Commercial mortgage loans - - - - Commercial and Industrial loans - - - - Consumer loans: Auto loans 19 358 50 856 Finance leases - - - - Personal loans - - - - Credit cards 15 80 - - Other consumer loans 14 64 18 72 Total Puerto Rico and Virgin Islands region 50 $ 755 73 $ 2,634 Quarter Ended September 30, 2020 2019 Florida region Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans - $ - - $ - Construction loans - - - - Commercial mortgage loans - - - - Commercial and Industrial loans - - - - Consumer loans: Auto loans - - - - Finance leases - - - - Personal loans - - - - Credit cards - - - - Other consumer loans - - - - Total in Florida region - $ - - $ - Quarter Ended September 30, 2020 2019 Total Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans 2 $ 253 5 $ 1,706 Construction loans - - - - Commercial mortgage loans - - - - Commercial and Industrial loans - - - - Consumer loans: Auto loans 19 358 50 856 Finance leases - - - - Personal loans - - - - Credit cards 15 80 - - Other consumer loans 14 64 18 72 Total 50 $ 755 73 $ 2,634 Nine-Month Period Ended September 30, 2020 2019 Puerto Rico and Virgin Islands region Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans 8 $ 2,142 8 $ 1,890 Construction loans - - - - Commercial mortgage loans - - - - Commercial and Industrial loans 1 35 - - Consumer loans: Auto loans 40 681 99 1,624 Finance leases 1 5 - - Personal loans 1 7 1 9 Credit cards 41 192 - - Other consumer loans 50 191 51 167 Total Puerto Rico and Virgin Islands region 142 $ 3,253 159 $ 3,690 Nine-Month Period Ended September 30, 2020 2019 Florida region Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans - $ - - $ - Construction loans - - - - Commercial mortgage loans - - - - Commercial and Industrial loans - - - - Consumer loans: Auto loans - - - - Finance leases - - - - Personal loans - - - - Credit cards - - - - Other consumer loans - - - - Total in Florida region - $ - - $ - Nine-Month Period Ended September 30, 2020 2019 Total Number of contracts Amortized Cost Number of contracts Amortized Cost (Dollars in thousands) Conventional residential mortgage loans 8 $ 2,142 8 $ 1,890 Construction loans - - - - Commercial mortgage loans - - - - Commercial and Industrial loans 1 35 - - Consumer loans: Auto loans 40 681 99 1,624 Finance leases 1 5 - - Personal loans 1 7 1 9 Credit cards 41 192 - - Other consumer loans 50 191 51 167 Total 142 $ 3,253 159 $ 3,690 |
TDR [Member] | Ab Note Restructure Workout Strategy [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Troubled Debt Restructurings On Financing Receivables [Table Text Block] | Quarter Ended Quarter Ended September 30, 2020 September 30, 2019 (In thousands) Commercial Mortgage loans Commercial and Industrial loans Construction loans Total Commercial Mortgage loans Commercial and Industrial loans Construction loans Total Beginning balance of A/B Notes $ 22,599 $ 26,767 $ 1,892 $ 51,258 $ 22,940 $ 27,987 $ 2,289 $ 53,216 Increase to existing TDRs - 367 - 367 - - - - Paid-off and partial payments ( 97) - ( 288) ( 385) ( 95) ( 192) ( 345) ( 632) Charge-offs ( 3,087) - - ( 3,087) - - - - Ending balance of A/B Notes $ 19,415 $ 27,134 $ 1,604 $ 48,153 $ 22,845 $ 27,795 $ 1,944 $ 52,584 Nine-Month Period Ended Nine-Month Period Ended September 30, 2020 September 30, 2019 (In thousands) Commercial Mortgage loans Commercial and Industrial loans Construction loans Total Commercial Mortgage loans Commercial and Industrial loans Construction loans Total Beginning balance of A/B Notes $ 22,749 $ 26,596 $ 1,883 $ 51,228 $ 3,003 $ 28,406 $ 2,431 $ 33,840 New TDR loan splits - - - - 20,059 - - 20,059 Increase to existing TDRs - 738 34 772 - - - - Paid-off and partial payments ( 247) ( 200) ( 313) ( 760) ( 217) ( 611) ( 487) ( 1,315) Charge-offs ( 3,087) - - ( 3,087) - - - - Ending balance of A/B Notes $ 19,415 $ 27,134 $ 1,604 $ 48,153 $ 22,845 $ 27,795 $ 1,944 $ 52,584 Quarter Ended Quarter Ended September 30, 2020 September 30, 2019 (In thousands) Commercial Mortgage loans Commercial and Industrial loans Construction loans Total Commercial Mortgage loans Commercial and Industrial loans Construction loans Total Allowance for credit losses at the beginning of the period for A/B Notes $ 3,646 $ 438 $ - $ 4,084 $ 1,261 $ 318 $ - $ 1,579 (Releases) Charges to the provision for credit losses ( 559) ( 40) - ( 599) 2,254 ( 56) - 2,198 Charge-offs ( 3,087) - - ( 3,087) - - - - Allowance for credit losses at the end of the period for A/B Notes $ - $ 398 $ - $ 398 $ 3,515 $ 262 $ - $ 3,777 Nine-Month Period Ended Nine-Month Period Ended September 30, 2020 September 30, 2019 (In thousands) Commercial Mortgage loans Commercial and Industrial loans Construction loans Total Commercial Mortgage loans Commercial and Industrial loans Construction loans Total Allowance for credit losses at the beginning of the period for A/B Notes $ 3,516 $ 14 $ - $ 3,530 $ - $ 473 $ - $ 473 Impact of adopting ASC 326 ( 415) 89 - ( 326) - - - - (Releases) Charges to the provision for credit losses ( 14) 295 - 281 3,515 ( 211) - 3,304 Charge-offs ( 3,087) - - ( 3,087) - - - - Allowance for credit losses at the end of the period for A/B Notes $ - $ 398 $ - $ 398 $ 3,515 $ 262 $ - $ 3,777 | |
TDR [Member] | 90 days or more Past Due [Member] | Ab Note Restructure Workout Strategy [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Troubled Debt Restructurings On Financing Receivables [Table Text Block] | The following tables provide additional information about the volume of this type of loan restructuring as of September 30, 2020 and 2019 and the effect on the ACL in the third quarter and first nine months of 2020 and 2019: | |
PCD loans [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Financing Receivable Purchase With Credit Deterioration [Table Text Block] | The following table reconciles the difference between the purchase price of the PCD loans acquired in the BSPR acquisition and the par value: (In thousands) Residential Mortgage Construction Commercial Mortgage Commercial & Industrial Consumer Total Purchase price of loans at acquisition (initial fair value) $ 322,561 $ - $ 180,950 $ 194,572 $ 54,959 $ 753,042 Allowance for credit losses at acquisition 12,739 - 9,723 1,830 4,452 28,744 Non-credit discount (premium) at acquisition 2,859 - 2,783 ( 95) ( 1,284) 4,263 Par value of acquired loans at acquisition $ 338,159 $ - $ 193,456 $ 196,307 $ 58,127 $ 786,049 |
ALLOWANCE FOR CREDIT LOSSES O_2
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Allowance for Credit Loss [Abstract] | |
Allowance For Credit Losses On Financing Receivables [Table Text Block] | The following table presents the activity in the ACL on loans and finance leases by portfolio segment for the quarters and nine-month periods ended September 30, 2020 and September 30, 2019: Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Quarter Ended September 30, 2020 (In thousands) Allowance for credit losses: Beginning balance $ 111,450 $ 7,800 $ 49,435 $ 38,310 $ 112,302 $ 319,297 Allowance established for acquired PCD loans 12,739 - 9,723 1,830 4,452 28,744 Provision for credit losses 9,875 2,405 19,672 2,839 13,287 48,078 Charge-offs ( 2,611) ( 1) ( 3,157) ( 150) ( 8,436) ( 14,355) Recoveries 328 37 53 80 2,456 2,954 Ending balance $ 131,781 $ 10,241 $ 75,726 $ 42,909 $ 124,061 $ 384,718 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Nine-Month Period Ended September 30, 2020 (In thousands) Allowance for credit losses: Beginning balance, prior to adoption ASC 326 $ 44,806 $ 2,370 $ 39,194 $ 15,198 $ 53,571 $ 155,139 Impact of adopting ASC 326 49,837 797 ( 19,306) 14,731 35,106 81,165 Allowance established for acquired PCD loans 12,739 - 9,723 1,830 4,452 28,744 Provision for credit losses 32,255 7,068 49,278 11,225 58,705 158,531 Charge-offs ( 8,968) ( 75) ( 3,303) ( 323) ( 33,930) ( 46,599) Recoveries 1,112 81 140 248 6,157 7,738 Ending balance $ 131,781 $ 10,241 $ 75,726 $ 42,909 $ 124,061 $ 384,718 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial & Industrial Loans Consumer Loans Total Quarter Ended September 30, 2019 (In thousands) Allowance for credit losses: Beginning balance $ 48,284 $ 3,026 $ 46,373 $ 21,644 $ 52,684 $ 172,011 Provision (release) for credit losses 2,162 ( 178) ( 808) ( 5,465) 11,687 7,398 Charge-offs ( 5,288) ( 68) ( 813) ( 387) ( 12,708) ( 19,264) Recoveries 874 279 96 1,826 2,355 5,430 Ending balance $ 46,032 $ 3,059 $ 44,848 $ 17,618 $ 54,018 $ 165,575 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial & Industrial Loans Consumer Loans Total Nine-Month Period Ended September 30, 2019 (In thousands) Allowance for credit losses: Beginning balance $ 50,794 $ 3,592 $ 55,581 $ 32,546 $ 53,849 $ 196,362 Provision (release) for credit losses 9,387 ( 815) 3,854 ( 11,068) 30,394 31,752 Charge-offs ( 16,229) ( 347) ( 14,901) ( 7,056) ( 37,004) ( 75,537) Recoveries 2,080 629 314 3,196 6,779 12,998 Ending balance $ 46,032 $ 3,059 $ 44,848 $ 17,618 $ 54,018 $ 165,575 The tables below present the ACL related to loans and finance leases and the carrying value of loans by portfolio segment as of September 30, 2020 and December 31, 2019: As of September 30, 2020 Residential Mortgage Loans Construction Loans Commercial Mortgage Consumer Loans Commercial and Industrial Loans (1) (Dollars in thousands) Total Total loans held for investment: Amortized cost of loans $ 3,636,713 $ 191,356 $ 2,220,277 $ 3,226,843 $ 2,572,086 $ 11,847,275 Allowance for credit losses 131,781 10,241 75,726 42,909 124,061 384,718 Allowance for credit losses to amortized cost 3.62 % 5.35 % 3.41 % 1.33 % 4.82 % 3.25 % As of December 31, 2019 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Consumer Loans Commercial and Industrial Loans (Dollars in thousands) Total Total loans held for investment: Amortized cost of loans $ 2,933,773 $ 111,317 $ 1,444,586 $ 2,230,876 $ 2,281,653 $ 9,002,205 Allowance for credit losses 44,806 2,370 39,194 15,198 53,571 155,139 Allowance for credit losses to amortized cost 1.53 % 2.13 % 2.71 % 0.68 % 2.35 % 1.72 % ____________ Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Beginning Balance $ 7,084 $ - $ - $ 412 Impact of adopting ASC 326 - - 3,922 - (Release) provision for credit losses ( 803) - 2,359 ( 412) Ending balance $ 6,281 $ - $ 6,281 $ - |
LOANS HELD FOR SALE (Tables)
LOANS HELD FOR SALE (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Loans and Leases Receivable Disclosure [Line Items] | |
Portfolio of Loans Held for Sale | The following provides information about the loan portfolio held for investment as of the indicated dates: As of September 30, As of December 31, 2020 2019 (In thousands) Residential mortgage loans, mainly secured by first mortgages $ 3,636,713 $ 2,933,773 Construction loans 191,356 111,317 Commercial mortgage loans 2,220,277 1,444,586 Commercial and Industrial loans (1) (2) 3,226,843 2,230,876 Consumer loans 2,572,086 2,281,653 Loans held for investment (3)(4) 11,847,275 9,002,205 Allowance for credit losses on loans and finance leases ( 384,718) ( 155,139) Loans held for investment, net $ 11,462,557 $ 8,847,066 September 30, 2020 December 31, 2019 (In thousands) Residential mortgage loans $ 48,670 $ 39,477 |
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Portfolio of Loans Held for Sale | The Corporation’s loans held-for-sale portfolio as of the dates indicated was composed of: September 30, 2020 December 31, 2019 (In thousands) Residential mortgage loans $ 48,670 $ 39,477 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
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 dates indicated: September 30, December 31, 2020 2019 (In thousands) OREO OREO balances, carrying value: Residential (1) $ 37,075 $ 46,912 Commercial 45,396 47,271 Construction 6,578 7,443 Total $ 89,049 $ 101,626 |
LEASES (Tables)
LEASES (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Leases [Abstract] | |
Suplemental Information Related To Lessee Right Of Use Assets And Liabilities [Table Text Block] | Supplemental balance sheet information related to leases as of the dates indicated was as follows: September 30, December 31, 2020 2019 (Dollars in thousands) Operating lease right-of-use ("ROU") asset $ 107,629 $ 61,327 Operating lease liability $ 110,888 $ 64,259 Operating lease weighted-average remaining lease term (in years) 8.6 10.8 Operating lease weighted-average discount rate 2.24% 3.29% Supplemental cash flow information related to leases is as follows: Nine-Month Period Ended September 30, September 30, 2020 2019 (In thousands) Operating cash flow from operating leases (1) $ 8,492 $ 7,619 ROU assets obtained in exchange for operating lease liabilities (2) 1,328 8,139 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturities under lease liabilities as of September 30, 2020 were as follows: Amount (In thousands) 2020 $ 4,972 2021 19,062 2022 17,945 2023 16,018 2024 14,507 2025 and later years 51,147 Total lease payments 123,651 Less: imputed interest ( 12,763) Total present value of lease liability $ 110,888 |
DERIVATIVE INSTRUMENTS AND HE_2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional Amounts of All Derivative Instruments | The following table summarizes the notional amounts of all derivative instruments as of the indicated dates: Notional Amounts (1) As of As of September 30, December 31, 2020 2019 (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements $ 16,680 $ - Written interest rate cap agreements 14,500 21,010 Purchased interest rate cap agreements 14,500 21,010 Interest rate lock commitments 24,713 11,456 Forward Contracts: Sale of TBA GNMA MBS pools 35,000 35,000 Forward loan sales commitments 25,097 6,418 $ 130,490 $ 94,894 |
Summary of Fair Value of Derivative Instruments and Location in Statement of Financial Condition | The following table summarizes for derivative instruments their fair values and location in the consolidated statements of financial condition as of the indicated dates: Asset Derivatives Liability Derivatives Statement of September 30, December 31, September 30, December 31, Financial 2020 2019 2020 2019 Condition Location Fair Value Fair Value Statement of Financial Condition Location Fair Value Fair Value (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements Other assets $ 1,762 $ - Accounts payable and other liabilities $ 1,789 $ - Written interest rate cap agreements Other assets - - Accounts payable and other liabilities 1 11 Purchased interest rate cap agreements Other assets 1 11 Accounts payable and other liabilities - - Interest rate lock commitments Other assets 951 341 Accounts payable and other liabilities - - Forward Contracts: Sales of TBA GNMA MBS pools Other assets 364 - Accounts payable and other liabilities 31 138 Forward loan sales commitments Other assets 20 20 Accounts payable and other liabilities - - $ 3,098 $ 372 $ 1,821 $ 149 |
Effect of Derivative Instruments on Statement of Income (Loss) | The following table summarizes the effect of derivative instruments on the consolidated statements of income for the indicated periods: Gain or (Loss) Gain or (Loss) Location of Unrealized Gain (Loss) Quarter Ended Nine-Month Period Ended on Derivative Recognized in September 30, September 30, Statement of Income 2020 2019 2020 2019 (In thousands) UNDESIGNATED ECONOMIC HEDGES: Interest rate contracts: Interest rate swap agreements Interest income - Loans $ 18 $ - $ 18 $ - Written and purchased interest rate cap agreements Interest income - Loans - ( 1) - ( 5) Interest rate lock commitments Mortgage Banking Activities 254 15 910 145 Forward contracts: Sales of TBA GNMA MBS pools Mortgage Banking Activities 454 214 458 210 Forward loan sales commitments Mortgage Banking Activities - - - 8 Total gain on derivatives $ 726 $ 228 $ 1,386 $ 358 |
OFFSETTING OF ASSETS AND LIAB_2
OFFSETTING OF ASSETS AND LIABILITIES (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Offsetting [Abstract] | |
Offsetting of assets and liabilties [Table Text Block] | Offsetting of Financial Assets and Derivative Assets As of September 30, 2020 Gross Amounts Not Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Derivatives $ 351 $ - $ 351 $ - $ ( 351) $ - As of December 31, 2019 Gross Amounts Not Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Derivatives $ 11 $ - $ 11 $ - $ ( 11) $ - Securities purchased under agreements to resell 200,000 ( 200,000) - - - - Total $ 200,011 $ ( 200,000) $ 11 $ - $ ( 11) $ - Offsetting of Financial Liabilities and Derivative Liabilities As of September 30, 2020 Gross Amounts Not Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Derivatives $ 1,820 $ - $ 1,820 $ ( 1,820) $ - $ - Securities sold under agreements to repurchase 300,000 - 300,000 ( 300,000) - - Total $ 301,820 $ - $ 301,820 $ ( 301,820) $ - $ - As of December 31, 2019 Gross Amounts Not Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Financial Instruments Cash Collateral Net Amount (In thousands) Description Securities sold under agreements to repurchase $ 300,000 $ ( 200,000) $ 100,000 $ ( 100,000) $ - $ - |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
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 as of the indicated dates: Quarter Ended September 30, 2020 Quarter Ended September 30, 2019 Core deposit intangible Purchased credit relationship intangible Insurance customer relationship intangible Total Core deposit intangible Purchased credit relationship intangible Insurance customer relationship intangible Total (Dollars in thousands) Gross amount of intangible assets: Beginning balance $ 51,664 $ 24,465 $ 1,067 $ 77,196 $ 51,664 $ 24,465 $ 1,067 $ 77,196 Additions due to acquisitions 35,432 3,800 - 39,232 - - - - Ending Balance 87,096 28,265 1,067 116,428 51,664 24,465 1,067 77,196 Accumulated amortization: Beginning balance ( 48,578) ( 21,797) ( 673) ( 71,048) ( 47,762) ( 19,806) ( 521) ( 68,089) Amortization ( 769) ( 679) ( 39) ( 1,487) ( 207) ( 522) ( 38) ( 767) Ending balance ( 49,347) ( 22,476) ( 712) ( 72,535) ( 47,969) ( 20,328) ( 559) ( 68,856) Net intangible assets $ 37,749 $ 5,789 $ 355 $ 43,893 $ 3,695 $ 4,137 $ 508 $ 8,340 Nine-Month Period Ended September 30, 2020 Nine-Month Period Ended September 30, 2019 Core deposit intangible Purchased credit relationship intangible Insurance customer relationship intangible Total Core deposit intangible Purchased credit relationship intangible Insurance customer relationship intangible Total (Dollars in thousands) Gross amount of intangible assets: Beginning balance $ 51,664 $ 24,465 $ 1,067 $ 77,196 $ 51,664 $ 24,465 $ 1,067 $ 77,196 Additions due to acquisitions 35,432 3,800 - 39,232 - - - - Ending Balance 87,096 28,265 1,067 116,428 51,664 24,465 1,067 77,196 Accumulated amortization: Beginning balance ( 48,176) ( 20,850) ( 597) ( 69,623) ( 47,329) ( 18,763) ( 445) ( 66,537) Amortization ( 1,171) ( 1,626) ( 115) ( 2,912) ( 640) ( 1,565) ( 114) ( 2,319) Ending balance ( 49,347) ( 22,476) ( 712) ( 72,535) ( 47,969) ( 20,328) ( 559) ( 68,856) Net intangible assets $ 37,749 $ 5,789 $ 355 $ 43,893 $ 3,695 $ 4,137 $ 508 $ 8,340 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The estimated aggregate annual amortization expense related to the intangible assets for future periods was as follows as of September 30, 2020: Amount (In thousands) 2020 $ 3,001 2021 11,293 2022 8,731 2023 7,651 2024 6,418 2025 and after 6,799 |
NON-CONSOLIDATED VARIABLE INT_2
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Transfers and Servicing [Abstract] | |
Changes in Servicing Assets | The changes in servicing assets are shown below for the indicated periods: Quarter Ended Nine-Month Period Ended September 30, September 30, (In thousands) 2020 2019 2020 2019 Balance at beginning of period $ 26,040 $ 27,231 $ 26,762 $ 27,428 Purchase of servicing assets (1) 7,781 - 7,781 - Capitalization of servicing assets 1,598 986 3,168 2,855 Amortization ( 1,594) ( 1,290) ( 3,808) ( 3,266) Temporary impairment charges, net ( 163) ( 53) ( 206) ( 73) Other (2) ( 318) - ( 353) ( 70) Balance at end of period $ 33,344 $ 26,874 $ 33,344 $ 26,874 (1) Represents servicing assets acquired in the BSPR acquisition. (2) Amount represents adjustments related to the repurchase of loans serviced for others, including loans previously serviced for BSPR and eliminated as part of the acquisition. |
Changes in Impairment Allowance | Changes in the impairment allowance were as follows for the indicated periods: Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Balance at beginning of period $ 39 $ 50 $ 73 $ 30 Temporary impairment charges 163 54 301 78 OTTI of servicing assets - - ( 77) - Recoveries - ( 1) ( 95) ( 5) Balance at end of period $ 202 $ 103 $ 202 $ 103 |
Components of Net Servicing Income | 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 Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Servicing fees $ 2,460 $ 2,166 $ 6,463 $ 6,333 Late charges and prepayment penalties 114 144 372 455 Adjustment for loans repurchased (1) ( 318) - ( 353) ( 70) Other - - - ( 15) Servicing income, gross 2,256 2,310 6,482 6,703 Amortization and impairment of servicing assets ( 1,757) ( 1,343) ( 4,014) ( 3,339) Servicing income, net $ 499 $ 967 $ 2,468 $ 3,364 (1) Includes $14 thousand for the quarter and nine-month period ended September 30, 2020 related to the elimination of servicing rights associated with loans previously serviced for BSPR. |
Key Economic Assumptions Used in Determining Fair Value at Time of Sale of Loans | The Corporation’s servicing assets 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 ranged as follows for the indicated periods: Maximum Minimum Nine-Month Period Ended September 30, 2020: Constant prepayment rate: Government-guaranteed mortgage loans 6.4 % 6.2 % Conventional conforming mortgage loans 7.2 % 6.9 % Conventional non-conforming mortgage loans 9.2 % 8.6 % Discount rate: Government-guaranteed mortgage loans 12.0 % 12.0 % Conventional conforming mortgage loans 10.0 % 10.0 % Conventional non-conforming mortgage loans 14.3 % 13.8 % Nine-Month Period Ended September 30, 2019: Constant prepayment rate: Government-guaranteed mortgage loans 6.4 % 6.2 % Conventional conforming mortgage loans 6.9 % 6.7 % Conventional non-conforming mortgage loans 9.3 % 8.9 % Discount rate: Government-guaranteed mortgage loans 12.0 % 12.0 % Conventional conforming mortgage loans 10.0 % 10.0 % Conventional non-conforming mortgage loans 14.3 % 14.3 % |
Weighted-Averages of Key Economic Assumptions in Valuation Model | 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 September 30, 2020 and December 31, 2019 were as follows: September 30, December 31, (Dollars in thousands) 2020 2019 Carrying amount of servicing assets $ 33,344 $ 26,762 Fair value $ 37,757 $ 31,027 Weighted-average expected life (in years) 7.96 8.39 Constant prepayment rate (weighted-average annual rate) 6.80 % 6.45 % Decrease in fair value due to 10% adverse change $ 909 $ 748 Decrease in fair value due to 20% adverse change $ 1,782 $ 1,464 Discount rate (weighted-average annual rate) 11.21 % 11.27 % Decrease in fair value due to 10% adverse change $ 1,654 $ 1,450 Decrease in fair value due to 20% adverse change $ 3,182 $ 2,783 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Deposits [Abstract] | |
Summary of Deposit Balances [Table Text Block] | The following table summarizes deposit balances as of the indicated dates: September 30, December 31, 2020 2019 (In thousands) Type of account: Non-interest-bearing deposit accounts $ 4,467,041 $ 2,367,856 Interest-bearing saving accounts 4,096,042 2,437,345 Interest-bearing checking accounts 3,477,506 1,412,390 Certificates of deposit (CDs) 2,886,115 2,695,749 Brokered CDs 276,194 435,089 Total $ 15,202,898 $ 9,348,429 |
Brokered Certificates Of Deposit Mature [Table Text Block] | Brokered CDs mature as follows: September 30, 2020 (In thousands) Three months or less $ 60,107 Over three months to six months 54,096 Over six months to one year 53,591 Over one year to three years 81,121 Over three years to five years 27,279 Total $ 276,194 |
Components of Interest Expense on Deposits [Table Text Block] | The following were the components of interest expense on deposits for the indicated periods: Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Interest expense on deposits $ 16,245 $ 20,159 $ 52,587 $ 56,385 Accretion of premiums from acquisitions ( 284) ( 2) ( 285) ( 6) Amortization of broker placement fees 127 184 437 557 Total interest expense on deposits $ 16,088 $ 20,341 $ 52,739 $ 56,936 |
SECURITIES SOLD UNDER AGREEME_2
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of Repurchase Agreements [Abstract] | |
Securities Sold Under Agreements to Repurchase | Securities sold under agreements to repurchase (repurchase agreements) as of the dates indicated consisted of the following: September 30, 2020 December 31, 2019 (In thousands) Long-term repurchase agreements (1)(2) $ 300,000 $ 100,000 Repurchase agreements mature as follows as of the indicated date: September 30, 2020 (In thousands) One year to three years $ 100,000 Three years to five years 200,000 Total $ 300,000 (Dollars in thousands) Weighted-Average Counterparty Amount Maturity (In months) JP Morgan Chase $ 100,000 16 Credit Suisse First Boston 200,000 52 $ 300,000 |
ADVANCES FROM THE FEDERAL HOM_2
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Advances from Federal Home Loan Banks [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: September 30, December 31, (In thousands) 2020 2019 Short-term Fixed-rate advances from FHLB (1) $ - $ 35,000 Long-term Fixed -rate advances from FHLB (2) 490,000 535,000 $ 490,000 $ 570,000 Advances from FHLB mature as follows as of the indicated date: As of September 30, 2020 (In thousands) Within one month $ 50,000 Over six months to one year 120,000 Over one year to three years 320,000 Total $ 490,000 |
OTHER BORROWINGS (Tables)
OTHER BORROWINGS (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Subordinated Borrowings [Abstract] | |
Components of Other Borrowings | Other borrowings, as of the indicated dates, consisted of: September 30, December 31, 2020 2019 (In thousands) Floating rate junior subordinated debentures (FBP Statutory Trust I) (1) (2) $ 65,205 $ 65,593 Floating rate junior subordinated debentures (FBP Statutory Trust II) (3) 118,557 118,557 $ 183,762 $ 184,150 |
OTHER COMPREHENSIVE INCOME (L_2
OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Statement of Other Comprehensive Income [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table presents changes in accumulated other comprehensive income (loss) for the quarters and nine-month periods ended September 30, 2020 and 2019: Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) Quarter Ended Nine-month period Ended September 30, September 30, September 30, September 30, 2020 2019 2020 2019 (In thousands) Unrealized net holding gains (losses) on debt securities Beginning balance $ 53,270 $ ( 2,438) $ 6,764 $ ( 40,415) Other comprehensive income ( 7,943) 7,562 38,563 45,539 Ending balance $ 45,327 $ 5,124 $ 45,327 $ 5,124 (1) All amounts presented are net of tax. |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) during the quarters and nine-month periods ended September 30, 2020 and 2019: Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Quarter Ended Nine-month period Ended September 30, September 30, Affected Line Item in the Consolidated Statements of Income 2020 2019 2020 2019 (In thousands) Unrealized net holding gains (losses) on debt securities: Realized (gain) loss on sale of debt securities Net gain (loss) on investment securities $ ( 5,288) $ 497 $ ( 13,380) $ 497 Credit losses Provision for credit losses - - 1,631 - Total before tax ( 5,288) 497 ( 11,749) 497 Income tax - - - - Total, net of tax $ ( 5,288) $ 497 $ ( 11,749) $ 497 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis are summarized below as of September 30, 2020 and December 31, 2019: As of September 30, 2020 As of December 31, 2019 Fair Value Measurements Using Fair Value Measurements Using (In thousands) Level 1 Level 2 Level 3 Assets/Liabilities at Fair Value Level 1 Level 2 Level 3 Assets/Liabilities at Fair Value Assets: Securities available for sale: U.S. Treasury securities $ 7,531 $ - $ - $ 7,531 $ 7,479 $ - $ - $ 7,479 Noncallable U.S. agency debt securities - 74,837 - 74,837 - 146,777 - 146,777 Callable U.S. agency debt securities and MBS - 3,195,869 - 3,195,869 - 1,950,331 - 1,950,331 Puerto Rico government obligations - 4,016 2,907 6,923 - 4,348 2,974 7,322 Private label MBS - - 8,839 8,839 - - 11,116 11,116 Other investments - - 650 650 - - 500 500 Equity securities 1,475 - - 1,475 1,428 - - 1,428 Derivatives, included in assets: Interest rate swap agreements - 1,762 - 1,762 - - - - Purchased interest rate cap agreements - 1 - 1 - 11 - 11 Interest rate lock commitments - 951 - 951 - 341 - 341 Forward contracts - 364 - 364 - - - - Forward loan sales commitments - 20 - 20 - 20 - 20 Liabilities: Derivatives, included in liabilities: Interest rate swap agreements - 1,789 - 1,789 - - - - Written interest rate cap agreements - 1 - 1 - 11 - 11 Forward contracts - 31 - 31 - 138 - 138 |
Fair Value of Assets and Liabilities Measured on Recurring Basis | 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 nine-month periods ended September 30, 2020 and 2019: Quarter Ended September 30, 2020 2019 Level 3 Instruments Only Securities Securities (In thousands) Available For Sale (1) Available For Sale (1) Beginning balance $ 12,643 $ 15,906 Total gains (losses) (realized/unrealized): Included in other comprehensive income 649 15 Included in earnings - ( 497) BSPR securities acquired 150 - Principal repayments and amortization ( 1,046) ( 414) Ending balance $ 12,396 $ 15,010 (1) Amounts mostly related to private label MBS. Nine-Month Period Ended September 30, 2020 2019 Level 3 Instruments Only Securities Securities (In thousands) Available For Sale (1) Available For Sale (1) Beginning balance $ 14,590 $ 17,238 Total gains (realized/unrealized): Included in other comprehensive income 1,615 46 Included in earnings ( 1,631) ( 497) BSPR securities acquired 150 - Principal repayments and amortization ( 2,328) ( 1,777) Ending balance $ 12,396 $ 15,010 (1) Amounts mostly related to private label MBS. |
Impairment or Valuation Adjustments were Recorded for Assets Recognized at Fair Value | As of September 30, 2020, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table: Carrying value as of September 30, 2020 Losses recorded for the Quarter Ended September 30, 2020 Losses recorded for the Nine-Month Period Ended September 30, 2020 Level 1 Level 2 Level 3 (In thousands) Loans receivable (1) $ - $ - $ 239,256 $ ( 193) $ ( 5,906) OREO (2) - - 89,049 ( 999) ( 1,775) (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. As of September 30, 2019, the Corporation recorded losses or valuation adjustments for assets recognized at fair value on a non-recurring basis as shown in the following table: Losses recorded Losses recorded for the Quarter Ended for the Nine-Month Period Ended Carrying value as of September 30, 2019 September 30, 2019 September 30, 2019 Level 1 Level 2 Level 3 (In thousands) Loans receivable (1) $ - $ - $ 211,406 $ ( 6,221) $ ( 14,546) OREO (2) - - 103,033 ( 1,311) ( 5,513) Loans held for sale (3) - - 6,906 - - (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) Represents nonaccrual commercial and construction loans transferred to held for sale in 2018 and still in inventory at period-end. The Corporation derived the fair value of these loans primarily from broker price opinions that the Corporation considered. |
Estimated Fair Value and Carrying 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 September 30, 2020 and December 31, 2019: Total Carrying Amount in Statement of Financial Condition September 30, 2020 Fair Value Estimate September 30, 2020 Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks and money market investments (amortized cost) $ 2,469,507 $ 2,469,507 $ 2,469,507 $ - $ - Investment securities available for sale (fair value) 3,294,649 3,294,649 7,531 3,274,722 12,396 Investment securities held to maturity (amortized cost) 189,156 Less: allowance for credit losses on held to maturity securities ( 10,176) Investment securities held to maturity, net of allowance $ 178,980 166,974 - - 166,974 Equity Securities (fair value) 39,290 39,290 1,475 37,815 - Loans held for sale (lower of cost or market) 48,670 50,518 - 50,518 - Loans held for investment (amortized cost) 11,847,275 Less: allowance for credit losses for loans and finance leases ( 384,718) Loans held for investment, net of allowance $ 11,462,557 11,502,824 - - 11,502,824 Derivatives, included in assets (fair value) 3,098 3,098 - 3,098 - Liabilities: Deposits (amortized cost) $ 15,202,898 $ 15,243,104 $ - $ 15,243,104 $ - Securities sold under agreements to repurchase (amortized cost) 300,000 330,551 - 330,551 - Advances from FHLB (amortized cost) 490,000 498,322 - 498,322 - Other borrowings (amortized cost) 183,762 143,785 - - 143,785 Derivatives, included in liabilities (fair value) 1,821 1,821 - 1,821 - Total Carrying Amount in Statement of Financial Condition December 31, 2019 Fair Value Estimate December 31, 2019 Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks and money market investments (amortized cost) $ 644,099 $ 644,099 $ 644,099 $ - $ - Investment securities available for sale (fair value) 2,123,525 2,123,525 7,479 2,101,456 14,590 Investment securities held to maturity (amortized cost) 138,675 110,374 - - 110,374 Equity securities (fair value) 38,249 38,249 1,428 36,821 - Loans held for sale (lower of cost or market) 39,477 40,234 - 40,234 - Loans held for investment (amortized cost) 9,002,205 Less: allowance for credit losses for loans and finance leases ( 155,139) Loans held for investment, net of allowance $ 8,847,066 8,715,144 - - 8,715,144 Derivatives, included in assets (fair value) 372 372 - 372 - Liabilities: Deposits (amortized cost) $ 9,348,429 $ 9,372,591 $ - $ 9,372,591 $ - Securities sold under agreements to repurchase (amortized cost) 100,000 120,020 - 120,020 - Advances from FHLB (amortized cost) 570,000 578,498 - 578,498 - Other borrowings (amortized cost) 184,150 180,577 - - 180,577 Derivatives, included in liabilities (fair value) 149 149 - 149 - |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Qualitative information regarding the fair value measurements for Level 3 financial instruments as of September 30, 2020 are as follows: September 30, 2020 Method Inputs Loans Income, Market, Comparable Sales, Discounted Cash Flows External appraised values; probability weighting of broker price opinions; management assumptions regarding market trends or other relevant factors OREO Income, Market, Comparable Sales, Discounted Cash Flows External appraised values; probability weighting of broker price opinions; management assumptions regarding market trends or other relevant factors |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | The tables below present qualitative information for significant assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of September 30, 2020 and December 31, 2019: September 30, 2020 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Investment securities available-for-sale: Private label MBS $ 8,839 Discounted cash flows Discount rate 12.4% 12.4% 12.4% Prepayment rate 2.6% 13.7% 10.9% Projected cumulative loss rate 2.4% 26.3% 11.8% Puerto Rico government obligations 2,907 Discounted cash flows Discount rate 8.5% 8.5% 8.5% Projected cumulative loss rate 13.4% 13.4% 13.4% December 31, 2019 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Minimum Maximum Investment securities available-for-sale: Private label MBS $ 11,116 Discounted cash flows Discount rate 13.7% 13.7% 13.7% Prepayment rate 6.8% 10.3% 7.9% Projected cumulative loss rate 0.0% 7.4% 2.8% Puerto Rico government obligations 2,974 Discounted cash flows Discount rate 6.9% 6.9% 6.9% Prepayment rate 3.0% 3.0% 3.0% |
Schedule Of Changes In Unrealized Gains Losses [Table Text Block] | The table below summarizes changes in unrealized gains and losses recorded in earnings for the quarters and nine-month periods ended September 30, 2020 and 2019 for Level 3 assets and liabilities that were still held at the end of each period: Changes in Unrealized Losses Quarter Ended September 30, Nine-Month Period Ended September 30, 2020 2019 2020 2019 Level 3 Instruments Only Securities Available for Sale Securities Available for Sale Securities Available for Sale Securities Available for Sale (In thousands) Changes in unrealized losses relating to assets still held at reporting date: OTTI on available-for-sale investment securities (credit component) (1) $ - $ ( 497) $ - $ ( 497) Provision for credit losses (2) - - ( 1,631) - Total $ - $ ( 497) $ ( 1,631) $ ( 497) |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation Of Revenue Table [TextBlock] | 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 nine-month periods ended September 30, 2020 and 2019: (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Quarter Ended September 30, 2020: Net interest income (1) $ 20,666 $ 54,323 $ 35,803 $ 18,577 $ 12,918 $ 6,409 $ 148,696 Service charges and fees on deposit accounts - 3,021 2,044 - 125 658 5,848 Insurance commissions - 1,377 - - 5 91 1,473 Merchant-related income - 1,941 - - - 276 2,217 Credit and debit card fees - 4,778 16 - ( 2) 350 5,142 Other service charges and fees 49 846 700 - 537 142 2,274 Not in scope of ASC Topic 606 (1) 6,707 352 78 5,457 393 ( 7) 12,980 Total non-interest income 6,756 12,315 2,838 5,457 1,058 1,510 29,934 Total Revenue $ 27,422 $ 66,638 $ 38,641 $ 24,034 $ 13,976 $ 7,919 $ 178,630 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Quarter Ended September 30, 2019: Net interest income (1) $ 16,991 $ 62,164 $ 25,699 $ 18,147 $ 14,977 $ 6,447 $ 144,425 Service charges and fees on deposit accounts - 3,771 1,443 - 172 722 6,108 Insurance commissions - 1,854 - - 22 107 1,983 Merchant-related income - 1,017 271 - - 310 1,598 Credit and debit card fees - 4,897 283 - 212 525 5,917 Other service charges and fees 67 828 300 - 169 76 1,440 Not in scope of ASC Topic 606 (1) 4,333 338 34 ( 433) 65 18 4,355 Total non-interest income 4,400 12,705 2,331 ( 433) 640 1,758 21,401 Total Revenue $ 21,391 $ 74,869 $ 28,030 $ 17,714 $ 15,617 $ 8,205 $ 165,826 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Nine-Month Period Ended September 30, 2020: Net interest income (1) $ 55,177 $ 165,609 $ 86,631 $ 55,549 $ 39,939 $ 19,650 $ 422,555 Service charges and fees on deposit accounts - 8,777 5,049 - 416 2,038 16,280 Insurance commissions - 6,933 - - 24 479 7,436 Merchant-related income - 3,535 - - - 570 4,105 Credit and debit card fees - 12,380 45 - 12 1,076 13,513 Other service charges and fees 215 1,882 1,591 89 1,366 1,393 6,536 Not in scope of ASC Topic 606 (1) (2) 14,628 3,127 988 13,688 716 9 33,156 Total non-interest income 14,843 36,634 7,673 13,777 2,534 5,565 81,026 Total Revenue $ 70,020 $ 202,243 $ 94,304 $ 69,326 $ 42,473 $ 25,215 $ 503,581 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Treasury and Investments United States Operations Virgin Islands Operations Total Nine-Month Period Ended September 30, 2019: Net interest income (1) $ 52,051 $ 185,914 $ 69,171 $ 52,804 $ 47,328 $ 19,884 $ 427,152 Service charges and fees on deposit accounts - 10,704 4,355 - 458 2,194 17,711 Insurance commissions - 7,799 - - 51 408 8,258 Merchant-related income - 2,953 467 - - 789 4,209 Credit and debit card fees - 14,040 927 - 561 1,561 17,089 Other service charges and fees 141 2,651 1,042 - 526 875 5,235 Not in scope of ASC Topic 606 (1) 12,114 1,091 355 ( 287) 346 46 13,665 Total non-interest income 12,255 39,238 7,146 ( 287) 1,942 5,873 66,167 Total Revenue $ 64,306 $ 225,152 $ 76,317 $ 52,517 $ 49,270 $ 25,757 $ 493,319 Quarter Ended Nine-Month Period Ended September 30, September 30, (In thousands) 2020 2019 2020 2019 Beginning Balance $ 2,314 $ 1,909 $ 2,476 $ 2,071 Less: Amortizations ( 81) ( 81) ( 243) ( 243) Ending balance $ 2,233 $ 1,828 $ 2,233 $ 1,828 |
SUPPLEMENTAL CASH FLOW INFORM_2
SUPPLEMENTAL CASH FLOW INFORMATION (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information [Table Text Block] | Supplemental cash flow information is as follows for the indicated periods: Nine-Month Period Ended September 30, 2020 2019 (In thousands) Cash paid for: Interest on borrowings $ 71,859 $ 79,789 Income tax 13,200 10,238 Operating cash flow from operating leases 8,492 7,619 Non-cash investing and financing activities: Additions to OREO 6,608 29,670 Additions to auto and other repossessed assets 24,160 34,497 Capitalization of servicing assets 3,168 2,855 Loan securitizations 156,786 173,428 Loans held for investment transferred to held for sale 4,876 20,928 ROU assets obtained in exchange for operating lease liabilities 1,328 8,139 Receivable on unsettled securities sale 121,860 - Adoption of lease accounting standard: ROU assets operating leases - 57,178 Operating lease liabilities - 59,818 Acquisition (see Note 2): Cash consideration 1,277,626 - Fair value of assets acquired 5,562,152 - Liabilities assumed 4,290,829 - |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Segment Reporting [Abstract] | |
Information about the Reportable Segments | The following table presents 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 September 30, 2020: Interest income $ 32,293 $ 60,157 $ 37,571 $ 12,572 $ 20,427 $ 7,382 $ 170,402 Net (charge) credit for transfer of funds ( 11,627) 3,514 ( 1,768) 11,972 ( 2,091) - - Interest expense - ( 9,348) - ( 5,967) ( 5,418) ( 973) ( 21,706) Net interest income 20,666 54,323 35,803 18,577 12,918 6,409 148,696 Provision for credit losses ( 11,614) ( 12,404) ( 19,139) - ( 1,679) ( 2,078) ( 46,914) Non-interest income (loss) 6,756 12,315 2,838 5,457 1,058 1,510 29,934 Direct non-interest expenses ( 7,659) ( 32,035) ( 6,251) ( 717) ( 8,387) ( 7,231) ( 62,280) Segment income (loss) $ 8,149 $ 22,199 $ 13,251 $ 23,317 $ 3,910 $ ( 1,390) $ 69,436 Average earnings assets $ 2,243,345 $ 2,197,601 $ 3,064,272 $ 4,725,125 $ 2,061,596 $ 466,315 $ 14,758,254 (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 September 30, 2019: Interest income $ 30,091 $ 55,772 $ 39,146 $ 15,671 $ 24,229 $ 7,386 $ 172,295 Net (charge) credit for transfer of funds ( 13,100) 16,557 ( 13,447) 11,411 ( 1,421) - - Interest expense - ( 10,165) - ( 8,935) ( 7,831) ( 939) ( 27,870) Net interest income 16,991 62,164 25,699 18,147 14,977 6,447 144,425 (Provision) release for credit losses ( 2,134) ( 11,187) 5,677 - ( 1,462) 1,708 ( 7,398) Non-interest income (loss) 4,400 12,705 2,331 ( 433) 640 1,758 21,401 Direct non-interest expenses ( 7,768) ( 30,282) ( 8,256) ( 740) ( 8,496) ( 7,105) ( 62,647) Segment income $ 11,489 $ 33,400 $ 25,451 $ 16,974 $ 5,659 $ 2,808 $ 95,781 Average earnings assets $ 2,141,383 $ 2,009,060 $ 2,487,409 $ 2,485,141 $ 1,963,559 $ 466,707 $ 11,553,259 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total Nine-Month Period Ended September 30, 2020 Interest income $ 89,353 $ 174,848 $ 102,225 $ 41,631 $ 63,754 $ 22,471 $ 494,282 Net (charge) credit for transfer of funds ( 34,176) 19,485 ( 15,594) 34,441 ( 4,156) - - Interest expense - ( 28,724) - ( 20,523) ( 19,659) ( 2,821) ( 71,727) Net interest income 55,177 165,609 86,631 55,549 39,939 19,650 422,555 Provision for credit losses ( 29,491) ( 56,254) ( 51,844) ( 2,765) ( 15,944) ( 6,996) ( 163,294) Non-interest income 14,843 36,634 7,673 13,777 2,534 5,565 81,026 Direct non-interest expenses ( 22,647) ( 89,659) ( 19,688) ( 2,133) ( 25,221) ( 21,970) ( 181,318) Segment income (loss) $ 17,882 $ 56,330 $ 22,772 $ 64,428 $ 1,308 $ ( 3,751) $ 158,969 Average earnings assets $ 2,076,419 $ 2,141,329 $ 2,684,803 $ 3,690,782 $ 2,025,482 $ 460,217 $ 13,079,032 (In thousands) Mortgage Banking Consumer (Retail) Banking Commercial and Corporate Banking Treasury and Investments United States Operations Virgin Islands Operations Total Nine-Month Period Ended September 30, 2019 Interest income $ 91,493 $ 158,548 $ 114,643 $ 47,553 $ 73,350 $ 22,690 $ 508,277 Net (charge) credit for transfer of funds ( 39,442) 54,743 ( 45,472) 34,403 ( 4,232) - - Interest expense - ( 27,377) - ( 29,152) ( 21,790) ( 2,806) ( 81,125) Net interest income 52,051 185,914 69,171 52,804 47,328 19,884 427,152 (Provision) release for credit losses ( 9,241) ( 28,982) 12,665 - ( 7,764) 1,982 ( 31,340) Non-interest income (loss) 12,255 39,238 7,146 ( 287) 1,942 5,873 66,167 Direct non-interest expenses ( 25,810) ( 88,533) ( 26,869) ( 2,031) ( 25,641) ( 22,090) ( 190,974) Segment income $ 29,255 $ 107,637 $ 62,113 $ 50,486 $ 15,865 $ 5,649 $ 271,005 Average earnings assets $ 2,182,680 $ 1,914,372 $ 2,509,611 $ 2,429,576 $ 1,935,768 $ 470,236 $ 11,442,243 |
Reconciliation of the Reportable Segment Financial Information | The following table presents a reconciliation of the reportable segment financial information to the consolidated totals for the indicated periods: Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 Net income : Total income for segments $ 69,436 $ 95,781 $ 158,969 $ 271,005 Other operating expenses (1) ( 45,228) ( 30,186) ( 108,160) ( 85,180) Income before income taxes 24,208 65,595 50,809 185,825 Income tax (benefit) expense ( 4,405) 19,268 ( 1,326) 54,897 Total consolidated net income $ 28,613 $ 46,327 $ 52,135 $ 130,928 Average assets: Total average earning assets for segments $ 14,758,254 $ 11,553,259 $ 13,079,032 $ 11,442,243 Average non-earning assets 1,047,401 933,250 975,744 964,799 Total consolidated average assets $ 15,805,655 $ 12,486,509 $ 14,054,776 $ 12,407,042 |
REGULATORY MATTERS, COMMITMEN_2
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Commitments And Contingencies Disclosure [Abstract] | |
Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Text Block] | The regulatory capital positions of the Corporation and FirstBank as of September 30, 2020, which reflects the delay in the effect of CECL on regulatory capital, and December 31, 2019 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 September 30, 2020 Total Capital (to Risk-Weighted Assets) First BanCorp. $ 2,358,608 20.32% $ 928,727 8.0% N/A N/A FirstBank $ 2,300,760 19.83% $ 928,372 8.0% $ 1,160,465 10.0% CET1 Capital (to Risk-Weighted Assets) First BanCorp. $ 1,998,067 17.21% $ 522,409 4.5% N/A N/A FirstBank $ 1,846,628 15.91% $ 522,209 4.5% $ 754,302 6.5% Tier I Capital (to Risk-Weighted Assets) First BanCorp. $ 2,034,171 17.52% $ 696,545 6.0% N/A N/A FirstBank $ 2,154,628 18.57% $ 696,279 6.0% $ 928,372 8.0% Leverage ratio First BanCorp. $ 2,034,171 13.04% $ 623,885 4.0% N/A N/A FirstBank $ 2,154,628 13.83% $ 623,378 4.0% $ 779,223 5.0% As of December 31, 2019 Total Capital (to Risk-Weighted Assets) First BanCorp. $ 2,286,337 25.22% $ 725,236 8.0% N/A N/A FirstBank $ 2,242,262 24.74% $ 725,047 8.0% $ 906,309 10.0% CET1 Capital (to Risk-Weighted Assets) First BanCorp. $ 1,957,887 21.60% $ 407,946 4.5% N/A N/A FirstBank $ 1,820,571 20.09% $ 407,839 4.5% $ 589,101 6.5% Tier I Capital (to Risk-Weighted Assets) First BanCorp. $ 1,993,991 22.00% $ 543,927 6.0% N/A N/A FirstBank $ 2,128,571 23.49% $ 543,785 6.0% $ 725,047 8.0% Leverage ratio First BanCorp. $ 1,993,991 16.15% $ 493,786 4.0% N/A N/A FirstBank $ 2,128,571 17.26% $ 493,242 4.0% $ 616,552 5.0% |
FIRST BANCORP. (Holding Compa_2
FIRST BANCORP. (Holding Company Only) Financial Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Statements of Financial Condition | The following condensed financial information presents the financial position of First BanCorp. at the holding company level only as of September 30, 2020 and December 31, 2019, and the results of its operations for the quarters and nine-month periods ended September 30, 2020 and 2019. Statements of Financial Condition (Unaudited) As of September 30, As of December 31, 2020 2019 (In thousands) Assets Cash and due from banks $ 11,155 $ 16,895 Money market investments 6,211 6,211 Other investment securities 285 285 Investment in First Bank Puerto Rico, at equity 2,345,385 2,362,182 Investment in First Bank Insurance Agency, at equity 40,264 24,995 Investment in FBP Statutory Trust I 1,951 1,963 Investment in FBP Statutory Trust II 3,561 3,561 Other assets 3,545 509 Total assets $ 2,412,357 $ 2,416,601 Liabilities and Stockholdersʼ Equity Liabilities: Other borrowings $ 183,762 $ 184,150 Accounts payable and other liabilities 3,313 4,378 Total liabilities 187,075 188,528 Stockholdersʼ equity 2,225,282 2,228,073 Total liabilities and stockholdersʼ equity $ 2,412,357 $ 2,416,601 |
Statements of Income | Statements of Income (Unaudited) Quarter Ended Nine-Month Period Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Income: Interest income on money market investments $ 12 $ 44 $ 60 $ 189 Dividend income from banking subsidiaries 14,482 7,750 41,370 28,500 Other income 51 70 399 216 14,545 7,864 41,829 28,905 Expense: Other borrowings 1,356 2,331 5,029 7,210 Other operating expenses 607 644 1,665 1,749 1,963 2,975 6,694 8,959 Gain on early extinguishment of debt 94 - 94 - Income before income taxes and equity in undistributed earnings of subsidiaries 12,676 4,889 35,229 19,946 Income tax expense 448 1,037 1,671 2,376 Equity in undistributed earnings of subsidiaries 16,385 42,475 18,577 113,358 Net income $ 28,613 $ 46,327 $ 52,135 $ 130,928 Other comprehensive (loss) income, net of tax ( 7,943) 7,562 38,563 45,539 Comprehensive income $ 20,670 $ 53,889 $ 90,698 $ 176,467 |
BASIS OF PRESENTATION AND SIG_2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) $ in Thousands | Sep. 01, 2020USD ($) | Sep. 30, 2020USD ($)numberofcontracts | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)numberofcontracts | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Goodwill | $ 34,401 | $ 34,401 | $ 28,098 | |||
Increase (decrease) in ACL | 229,600 | |||||
Provision for credit losses | 46,914 | $ 7,398 | 163,294 | $ 31,340 | ||
Loans and Leases Receivable, Gross | $ 11,800,000 | $ 11,800,000 | ||||
Excess Cash And Liquid Securities Total Assets Ratio | 19.20% | 19.20% | 15.80% | |||
Federal Home Loan Bank Advances General Debt Obligations Disclosures Amount Of Available Unused Funds | $ 1,400 | $ 1,400 | ||||
Federal Reserve Bank Amount Of Available Unused Funds | $ 936,100 | 936,100 | ||||
COVID-19 | Small Business Administration | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
SBA PPP number of applications | numberofcontracts | 6,000 | |||||
SBA loans approved | $ 390,300 | 390,300 | ||||
COVID-19 | Payment Deferral [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Loans and Leases Receivable, Gross | 1,200,000 | $ 1,200,000 | ||||
Percentage Of Deferred Payments To Total Portfolio | 10.00% | |||||
COVID-19 | Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Loan Deferral Number Of Contract | numberofcontracts | 3,227 | |||||
Loans and Leases Receivable, Gross | 511,900 | $ 511,900 | ||||
COVID-19 | Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Loan Deferral Number Of Contract | numberofcontracts | 196 | |||||
Loans and Leases Receivable, Gross | 540,800,000 | $ 540,800,000 | ||||
COVID-19 | Consumer Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Loan Deferral Number Of Contract | numberofcontracts | 21,750 | |||||
Loans and Leases Receivable, Gross | $ 168,700 | $ 168,700 | ||||
Santander [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Payments To Acquire Businesses Gross Core Tangible Common Equity | $ 394,800 | |||||
Business Acquisition Purchase Price To Tangible Common Equity | 117.50% | |||||
Payments To Acquire Businesses Gross Acquisition Premium | $ 58,800 | |||||
Tangible Common Equity | 336,000 | |||||
Payments To Acquire Businesses Gross Excess Capital | 882,800 | |||||
Total assets and identifiable intangible assets acquired | $ 5,500,000 | |||||
Number Of Branches Acquired | 27 | |||||
Goodwill | $ 6,300 | |||||
Santander [Member] | Fair Value | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total assets and identifiable intangible assets acquired | 5,562,132 | |||||
Total liabilities assumed | 4,290,809 | |||||
Goodwill | 6,303 | |||||
Santander [Member] | Loans [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total assets and identifiable intangible assets acquired | 2,600,000 | |||||
Santander [Member] | Deposits [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total liabilities assumed | $ 4,200,000 |
BASIS OF PRESENTATION AND SIG_3
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Transition Adjustment of ASC 326 (Details) - USD ($) $ in Thousands | Jan. 01, 2020 | Dec. 31, 2019 | Sep. 30, 2020 | Jun. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | $ 0 | $ 10,176 | |||||
Financing Receivable, Allowance for Credit Loss | 155,139 | 384,718 | $ 319,297 | $ 165,575 | $ 172,011 | $ 196,362 | |
Off-Balance Sheet, Credit Loss, Liability | 0 | 6,281 | 7,084 | 0 | 0 | 412 | |
Pre-tax effect in beginning retained eaarnings | (155,139) | ||||||
Balance sheet reclassification | (229,600) | ||||||
Accounting Standards Update 2016-13 [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | $ 8,134 | ||||||
Financing Receivable, Allowance for Credit Loss | 236,304 | ||||||
Off-Balance Sheet, Credit Loss, Liability | 3,922 | ||||||
Pre-tax effect in beginning retained eaarnings | (248,360) | ||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 8,134 | ||||||
Financing Receivable, Allowance for Credit Loss | 81,165 | ||||||
Off-Balance Sheet, Credit Loss, Liability | 3,922 | ||||||
Pre-tax effect in beginning retained eaarnings | (93,221) | ||||||
Balance sheet reclassification | 434 | ||||||
Tax effect | 31,333 | ||||||
Cumulative Effect on Retained Earnings, Net of Tax | (62,322) | ||||||
Residential Portfolio Segment [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 44,806 | 131,781 | 111,450 | 46,032 | 48,284 | 50,794 | |
Residential Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 94,643 | ||||||
Residential Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 49,837 | ||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 15,198 | 42,909 | 38,310 | 17,618 | 21,644 | 32,546 | |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 29,929 | ||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 14,731 | ||||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 39,194 | 75,726 | 49,435 | 44,848 | 46,373 | 55,581 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 19,888 | ||||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | (19,306) | ||||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 2,370 | 10,241 | 7,800 | 3,059 | 3,026 | 3,592 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 3,167 | ||||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 797 | ||||||
Consumer Portfolio Segment [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | $ 53,571 | $ 124,061 | $ 112,302 | $ 54,018 | $ 52,684 | $ 53,849 | |
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | 88,677 | ||||||
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Financing Receivable, Allowance for Credit Loss | $ 35,106 |
BASIS OF PRESENTATION AND SIG_4
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Accounting for financial instruments credit losses (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans and Leases Receivable, Gross | $ 11,800,000,000 | $ 11,800,000,000 | |||
Debt Securities, Held-to-maturity, Threshold Period Past Due | 30 days | 30 days | |||
Accrued interest receivable | $ 77,240,000 | $ 77,240,000 | $ 50,205,000 | ||
Allowance for credit losses, Held-to-Maturity securities | 10,176,000 | 10,176,000 | 0 | ||
Debt Securities, Available-for-sale, Allowance for Credit Loss | 1,386,000 | 1,386,000 | $ 1,631,000 | 0 | |
Interest income reversed of nonacrrual loans | 412,000 | 1,497,000 | |||
Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 43,000 | 119,000 | |||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 19,000 | 61,000 | |||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 17,000 | 138,000 | |||
Consumer Portfolio Segment [Member] | Finance Leases [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 2,000 | 23,000 | |||
Consumer Portfolio Segment [Member] | Personal Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 8,000 | 36,000 | |||
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 0 | 9,000 | |||
Mortgage Receivable [Member] | Commercial Portfolio Segment [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 35,000 | 142,000 | |||
PR And VI [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 374,000 | 1,307,000 | |||
PR And VI [Member] | Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 0 | 0 | |||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 24,000 | 67,000 | |||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 19,000 | 61,000 | |||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 0 | 0 | |||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 17,000 | 138,000 | |||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 2,000 | 23,000 | |||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 8,000 | 36,000 | |||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 0 | 5,000 | |||
PR And VI [Member] | Mortgage Receivable [Member] | Commercial Portfolio Segment [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | 35,000 | 142,000 | |||
Municipal Bonds [Member] | PUERTO RICO | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Held To Maturity Securities | 189,156,000 | 189,156,000 | 138,675,000 | ||
Allowance for credit losses, Held-to-Maturity securities | 10,176,000 | 10,176,000 | $ 9,268,000 | 0 | |
Accounting Standards Update 2016-13 [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Debt Securities, Held-to-maturity, Nonaccrual | $ 0 | $ 0 | |||
Debt Securities, Held-to-maturity, Threshold Period Past Due | 90 days | 90 days | |||
Allowance for credit losses, Held-to-Maturity securities | $ 8,134,000 | ||||
Debt Securities, Available-for-sale, Allowance for Credit Loss | $ 1,400,000 | $ 1,400,000 | |||
Threshold Period Past Due Of Financing Receivables To Be Considered Nonperforming | 90 days | ||||
Troubled debt restructurings sustained performance period | 6 months | 6 months | |||
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent | 30 days | ||||
Accounting Standards Update 2016-13 [Member] | Nonperforming Financing Receivable [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Interest income reversed of nonacrrual loans | $ (300,000) | $ 800,000 | |||
Accounting Standards Update 2016-13 [Member] | Home Equity Line of Credit [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable Threshold Period Collateral Dependent | 180 days | ||||
Accounting Standards Update 2016-13 [Member] | Residential Portfolio Segment [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 180 days | 180 days | |||
Monthly payments in arrears for a loan to be considered delinquent | 2 months | ||||
Financing Receivable Threshold Period Collateral Dependent | 180 days | ||||
Accounting Standards Update 2016-13 [Member] | Residential Portfolio Segment [Member] | Puerto Rico Housing Finance Authority [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Period Of Guaranteed Residential Mortgage Loans That Are No Longer Accruing Interest | 90 days | ||||
Accounting Standards Update 2016-13 [Member] | Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Period Of Guaranteed Residential Mortgage Loans That Are No Longer Accruing Interest | 15 months | ||||
Accounting Standards Update 2016-13 [Member] | Residential Portfolio Segment [Member] | Loans Insured or Guaranteed by US Government Authorities [Member] | Puerto Rico Housing Finance Authority [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Guaranteed Loans Past Due | 90 days | ||||
Accounting Standards Update 2016-13 [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent | 30 days | ||||
Accounting Standards Update 2016-13 [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Monthly payments in arrears for a loan to be considered delinquent | 2 months | ||||
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Threshold Period Past Due Of Financing Receivables To Be Considered Delinquent | 30 days | ||||
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 180 days | 180 days | |||
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 120 days | 120 days | |||
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 120 days | 120 days | |||
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member] | Small Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 180 days | 180 days | |||
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 120 days | 120 days | |||
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 120 days | 120 days | |||
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable, Threshold Period Past Due, Writeoff | 180 days | 180 days | |||
Accounting Standards Update 2016-13 [Member] | Loans and Finance Receivables [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Accrued interest receivable | $ 67,200,000 | $ 67,200,000 | 39,100,000 | ||
Accounting Standards Update 2016-13 [Member] | Mortgage Receivable [Member] | Commercial Portfolio Segment [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Monthly payments in arrears for a loan to be considered delinquent | 2 months | ||||
Accounting Standards Update 2016-13 [Member] | Minimum [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Financing Receivable, Individually Evaluated for Impairment | 500,000 | $ 500,000 | |||
Accounting Standards Update 2016-13 [Member] | Held-to-maturity Securities [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Accrued interest receivable | 1,800,000 | 1,800,000 | 3,900,000 | ||
Accounting Standards Update 2016-13 [Member] | Available for sale Securities [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Accrued interest receivable | 7,900,000 | $ 7,900,000 | $ 5,500,000 | ||
Accounting Standards Update 2016-13 [Member] | PR And VI [Member] | Loans and Finance Receivables [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Forecast period | P2Y | ||||
Reversion Period | P3Y | ||||
Accounting Standards Update 2016-13 [Member] | FL | Residential Portfolio Segment [Member] | Adjustable Rate Residential Mortgage [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans Receivable With Hybrid Ajustable Rate | 57.00% | ||||
Accounting Standards Update 2016-13 [Member] | FL | Loans and Finance Receivables [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Forecast period | P5Y | ||||
Reversion Period | P5Y | ||||
Accounting Standards Update 2016-13 [Member] | Municipal Bonds [Member] | PUERTO RICO | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Held To Maturity Securities | $ 189,200,000 | $ 189,200,000 | |||
Percentage Of Held To Maturity Securities | 60.00% | 60.00% | |||
Allowance for credit losses, Held-to-Maturity securities | $ 10,200,000 | $ 10,200,000 | |||
Accounting Standards Update 2016-13 [Member] | Municipal Bonds [Member] | PUERTO RICO | Held-to-maturity Securities [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Forecast period | P2Y | ||||
Accounting Standards Update 2016-13 [Member] | Municipal Bonds [Member] | PUERTO RICO | Held-to-maturity Securities [Member] | Maximum [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Reversion Period | P3Y |
BUSINESS COMBINATION - Addition
BUSINESS COMBINATION - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Sep. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 |
Business Acquisition [Line Items] | ||||||||
Merger and Restructuring costs | $ 10,441 | $ 592 | $ 14,188 | $ 592 | ||||
Goodwill | $ 34,401 | $ 34,401 | $ 28,098 | $ 34,401 | $ 34,401 | |||
Fair value of PCD held to maturity securities | $ 55,532 | |||||||
Contractual amount PCD held to maturity securities | 67,082 | |||||||
Discosunt on PCD held to maturity securities | 10,281 | |||||||
Initial allowance on PCD debt securities | 1,269 | |||||||
Fair value of PCD loans | 753,042 | |||||||
Contractual amount of PCD loans | $ 786,049 | |||||||
BSPR | ||||||||
Business Acquisition [Line Items] | ||||||||
Business Acquisition, Effective Date of Acquisition | Sep. 1, 2020 | |||||||
Business Acquisition, Name of Acquired Entity | BSPR | |||||||
Business Combination, Reason for Business Combination | The acquisition of BSPR expands the Corporation’s presence in Puerto Rico, increases its operational scale and strengthens its competitiveness in retail, commercial, business banking, and residential lending. The acquisition also allowed the Corporation to increase its deposit base at a lower cost, which enhances FirstBank’s funding and risk profile. | |||||||
Merger and Restructuring costs | $ 10,800 | $ 14,200 | $ 600 | $ 25,600 | ||||
Goodwill | $ 6,300 | |||||||
Intangible assets recognized as part of a business combination | 39,200 | |||||||
Fair value of PCD held to maturity securities | 55,500 | |||||||
Contractual amount PCD held to maturity securities | 67,100 | |||||||
Initial allowance on PCD debt securities | 1,300 | |||||||
Fair value of non-PCD loans | 1,800,000 | |||||||
Fair value of PCD loans | 753,000 | |||||||
Contractual amount of non-PCD loans | 1,800,000 | |||||||
Contractual amount of PCD loans | 786,000 | |||||||
Provision for credit losses | 38,900 | |||||||
ACL for PCD loans | $ 28,700 | |||||||
Acquired Deposits Weighted Average Useful Life | 1 year 2 months 12 days | |||||||
After tax provision for credit losses | $ 25,900 | |||||||
Business Combination Acquisition Related Costs Incurred By The Acquiree | $ 2,000 | |||||||
BSPR | Core Deposits [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Intangible assets recognized as part of a business combination | $ 35,400 | |||||||
Weighted average useful life | 5 years 8 months 12 days | |||||||
BSPR | Customer Relationships [Member] | Credit Card [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Intangible assets recognized as part of a business combination | $ 3,800 | |||||||
Weighted average useful life | 3 years |
BUSINESS COMBINATION - Estimate
BUSINESS COMBINATION - Estimated Fair Value of Net Assets Acquired (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Sep. 30, 2020 | Dec. 31, 2019 |
Fair value of liabilities assumed: | |||
Goodwill | $ 34,401 | $ 28,098 | |
BSPR | |||
Business Acquisition [Line Items] | |||
Total purchase price consideration (cash) | $ 1,277,626 | ||
Fair value of assets acquired: | |||
Intangibles | 39,200 | ||
Total assets and identifiable intangible assets acquired | 5,500,000 | ||
Fair value of liabilities assumed: | |||
Goodwill | 6,300 | ||
BSPR | Fair Value | |||
Fair value of assets acquired: | |||
Cash and cash equivalents | 1,684,252 | ||
Investment securities | 1,167,225 | ||
Loans, net | 2,514,916 | ||
Premises and equipment, net | 12,499 | ||
Intangibles | 39,232 | ||
Other assets | 144,008 | ||
Total assets and identifiable intangible assets acquired | 5,562,132 | ||
Fair value of liabilities assumed: | |||
Deposits | 4,194,940 | ||
Other liabilities | 95,869 | ||
Total liabilities assumed | 4,290,809 | ||
Fair value of net assets and identifiable intangible assets | 1,271,323 | ||
Goodwill | 6,303 | ||
BSPR | Fair Value | Residential Portfolio Segment [Member] | |||
Fair value of assets acquired: | |||
Loans, net | 807,637 | ||
BSPR | Fair Value | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||
Fair value of assets acquired: | |||
Loans, net | 740,919 | ||
BSPR | Fair Value | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||
Fair value of assets acquired: | |||
Loans, net | 752,154 | ||
BSPR | Fair Value | Consumer Portfolio Segment [Member] | |||
Fair value of assets acquired: | |||
Loans, net | $ 214,206 |
BUSINESS COMBINATION - BSPR Res
BUSINESS COMBINATION - BSPR Results (Detail) $ in Thousands | 1 Months Ended |
Sep. 30, 2020USD ($) | |
Business Acquisition, Pro Forma Information [Abstract] | |
Net interest income | $ 14,037 |
Non interest income | 1,975 |
Net loss | $ (22,256) |
BUSINESS COMBINATION - Pro Form
BUSINESS COMBINATION - Pro Forma Financial Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Business Acquisition, Pro Forma Information [Abstract] | ||
Net interest income | $ 544,286 | $ 596,925 |
Non interest income | 102,242 | 97,430 |
Net income | $ 96,643 | $ 181,487 |
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 | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net Income (Loss): | ||||
Net income | $ 28,613 | $ 46,327 | $ 52,135 | $ 130,928 |
Dividends on preferred stock | (669) | (669) | (2,007) | (2,007) |
Net income attributable to common stockholders | $ 27,944 | $ 45,658 | $ 50,128 | $ 128,921 |
Weighted-Average Shares: | ||||
Average common shares outstanding | 216,922 | 216,690 | 216,876 | 216,569 |
Average potential dilutive common shares | 793 | 537 | 657 | 484 |
Average common shares outstanding - assuming dilution | 217,715 | 217,227 | 217,533 | 217,053 |
Earnings per common share: | ||||
Basic | $ 0.13 | $ 0.21 | $ 0.23 | $ 0.60 |
Diluted | $ 0.13 | $ 0.21 | $ 0.23 | $ 0.59 |
STOCK-BASED COMPENSATION - Omni
STOCK-BASED COMPENSATION - Omnibus Plan - Additional Information (Detail) - Omnibus Plan [Member] | Sep. 30, 2020shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Authorized granting up shares | 14,169,807 |
Authorized shares of common stock available for issuance | 5,676,265 |
STOCK-BASED COMPENSATION - Rest
STOCK-BASED COMPENSATION - Restricted Stock - Additional Information (Detail) - Omnibus Plan [Member] - Restricted Stock [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares of restricted stock | 905,307 | |||
Stock-based compensation expense | $ 0.8 | $ 0.7 | $ 2.4 | $ 2.2 |
Unrecognized compensation cost related to unvested shares | $ 3.9 | $ 3.9 | ||
Period for cost recognition not yet recognized | 1 year 7 months 6 days | |||
Independent directors [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares of restricted stock | 53,634 | 51,841 | ||
Restricted stock vesting period | 1 year | 1 year | ||
Management [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares of restricted stock | 851,673 | 262,371 | ||
Retirement Eligible Shares | 47,194 | 13,308 | ||
Management [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 percentage | 50.00% | 50.00% | ||
Management [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 percentage | 50.00% | 50.00% |
STOCK-BASED COMPENSATION - Re_2
STOCK-BASED COMPENSATION - Restricted Stock Activity Under Omnibus Plan (Detail) - Omnibus Plan [Member] - Restricted Stock [Member] | 9 Months Ended |
Sep. 30, 2020$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unvested shares outstanding, beginning of period | shares | 644,805 |
Granted | shares | 905,307 |
Forefeited | shares | (3,086) |
Vested | shares | (232,466) |
Unvested shares outstanding, end of period | shares | 1,314,560 |
Weighted-Average Grant Date Fair Value, beginning of period | $ / shares | $ 8.51 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 4.15 |
Weighted-Averages Grant Date Dair Value, Forfeited | $ / shares | 6.07 |
Weighted-Averages Grant Date Fair Value, Vested | $ / shares | 7.23 |
Weighted-Average Grant Date Fair Value, end of period | $ / shares | $ 5.74 |
STOCK-BASED COMPENSATION - Perf
STOCK-BASED COMPENSATION - Performance Units - Additional Information (Detail) - Omnibus Plan [Member] - Performance Units [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted performance units | 502,307 | |||
Stock-based compensation expense | $ 0.5 | $ 0.3 | $ 1.3 | $ 0.8 |
Unrecognized compensation cost related to unvested shares | $ 3.1 | $ 3.1 | ||
Executives [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted performance units | 502,307 | 200,053 | ||
Requisite service period | 3 years | 3 years | ||
Performance Units Program Description | The performance units will vest based on the achievement of a pre-established tangible book value per share target as of December 31, 2022. All of 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 at 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. |
STOCK-BASED COMPENSATION - Pe_2
STOCK-BASED COMPENSATION - Performance Units - Performance Unit Activity (Detail) - Omnibus Plan [Member] - Performance Shares [Member] | 9 Months Ended |
Sep. 30, 2020shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unvested shares outstanding, beginning of period | 504,461 |
Granted performance units | 502,307 |
Unvested shares outstanding, end of period | 1,006,768 |
STOCK-BASED COMPENSATION - Othe
STOCK-BASED COMPENSATION - Other Awards - Additional Information (Detail) - Omnibus Plan [Member] - Unrestricted Stock [Member] $ in Millions | 9 Months Ended |
Sep. 30, 2020USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Payment Arrangement, Expense | $ | $ 0.1 |
Director [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Granted shares of unrestricted stock | shares | 19,157 |
STOCK-BASED COMPENSATION - Sala
STOCK-BASED COMPENSATION - Salary Stock - Additional Information (Detail) - shares | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares of common stock repurchased | 51,814 | 176,015 |
Omnibus Plan [Member] | Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares of common stock repurchased | 51,814 | 176,015 |
INVESTMENT SECURITIES - Investm
INVESTMENT SECURITIES - Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | $ 3,242,955 | $ 2,109,008 | |
Gross Unrealized gain | 60,021 | 24,573 | |
Gross Unrealized loss | 6,941 | 10,056 | |
Allowance for Credit Losses | 1,386 | $ 1,631 | 0 |
Investment securities available for sale | $ 3,294,649 | $ 2,123,525 | |
Weighted-average yield | 1.60% | 2.52% | |
U S Treasury Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost Due within one year | $ 7,493 | ||
Gross Unrealized gains Due within one year | 38 | ||
Gross Unrealized losses Due within one year | 0 | ||
Allowance for Credit Losses within one year | 0 | ||
Fair value Due within one year | $ 7,531 | ||
Weighted-average yield Due within one year | 1.65% | ||
Amortized cost After 1 to 5 years | $ 7,478 | ||
Gross Unrealized gains After 1 to 5 years | 1 | ||
Gross Unrealized losses After 1 to 5 years | 0 | ||
Fair value After 1 to 5 years | $ 7,479 | ||
Weighted-average yield After 1 to 5 years | 1.65% | ||
U.S. government-sponsored agencies obligations [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost Due within one year | $ 34,442 | $ 93,299 | |
Gross Unrealized gains Due within one year | 402 | 103 | |
Gross Unrealized losses Due within one year | 0 | 106 | |
Allowance for Credit Losses within one year | 0 | ||
Fair value Due within one year | $ 34,844 | $ 93,296 | |
Weighted-average yield Due within one year | 1.82% | 1.67% | |
Amortized cost After 1 to 5 years | $ 544,175 | $ 142,513 | |
Gross Unrealized gains After 1 to 5 years | 813 | 676 | |
Gross Unrealized losses After 1 to 5 years | 958 | 52 | |
Allowance for Credit Losses After 1 to 5 years | 0 | ||
Fair value After 1 to 5 years | $ 544,030 | $ 143,137 | |
Weighted-average yield After 1 to 5 years | 0.80% | 2.12% | |
Amortized cost After 5 to 10 years | $ 117,940 | $ 63,764 | |
Gross Unrealized gains After 5 to 10 years | 671 | 165 | |
Gross Unrealized losses After 5 to 10 years | 181 | 150 | |
Allowance for Credit Losses After 5 to 10 years | 0 | ||
Fair value After 5 to 10 years | $ 118,430 | $ 63,779 | |
Weighted-average yield After 5 to 10 years | 1.41% | 2.33% | |
Amortized cost After 10 years | $ 21,820 | $ 24,624 | |
Gross Unrealized gains After 10 years | 0 | 0 | |
Gross Unrealized losses After 10 years | 144 | 116 | |
Allowance for Credit Losses After 10 years | 0 | ||
Fair value After 10 years | $ 21,676 | $ 24,508 | |
Weighted-average yield After 10 years | 0.65% | 2.00% | |
Puerto Rico Government obligations [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost After 5 to 10 years | $ 4,000 | $ 4,000 | |
Gross Unrealized gains After 5 to 10 years | 16 | 348 | |
Gross Unrealized losses After 5 to 10 years | 0 | 0 | |
Allowance for Credit Losses After 5 to 10 years | 0 | ||
Fair value After 5 to 10 years | $ 4,016 | $ 4,348 | |
Weighted-average yield After 5 to 10 years | 5.12% | 5.12% | |
Amortized cost After 10 years | $ 4,043 | $ 4,166 | |
Gross Unrealized gains After 10 years | 0 | 0 | |
Gross Unrealized losses After 10 years | 828 | 1,192 | |
Allowance for Credit Losses After 10 years | 308 | ||
Fair value After 10 years | $ 2,907 | $ 2,974 | |
Weighted-average yield After 10 years | 6.97% | 6.97% | |
Allowance for Credit Losses | $ 308 | 308 | $ 0 |
Investment securities available for sale | 6,900 | ||
United States And Puerto Rico Government Obligations [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | 733,913 | 339,844 | |
Gross Unrealized gain | 1,940 | 1,293 | |
Gross Unrealized loss | 2,111 | 1,616 | |
Allowance for Credit Losses | 308 | ||
Investment securities available for sale | $ 733,434 | $ 339,521 | |
Weighted-average yield | 1.01% | 2.11% | |
Mortgage Backed Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | $ 2,508,392 | $ 1,768,664 | |
Gross Unrealized gain | 58,081 | 23,280 | |
Gross Unrealized loss | 4,830 | 8,440 | |
Allowance for Credit Losses | 1,078 | ||
Investment securities available for sale | $ 2,560,565 | $ 1,783,504 | |
Weighted-average yield | 1.77% | 2.60% | |
Mortgage Backed Securities [Member] | FHLMC [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost Due within one year | $ 83 | ||
Gross Unrealized gains Due within one year | 8 | ||
Gross Unrealized losses Due within one year | 0 | ||
Allowance for Credit Losses within one year | 0 | ||
Fair value Due within one year | $ 91 | ||
Weighted-average yield Due within one year | 4.86% | ||
Amortized cost After 5 to 10 years | $ 66,337 | $ 81,418 | |
Gross Unrealized gains After 5 to 10 years | 2,939 | 589 | |
Gross Unrealized losses After 5 to 10 years | 0 | 228 | |
Allowance for Credit Losses After 5 to 10 years | 0 | ||
Fair value After 5 to 10 years | $ 69,276 | $ 81,779 | |
Weighted-average yield After 5 to 10 years | 2.15% | 2.16% | |
Amortized cost After 10 years | $ 579,684 | $ 424,316 | |
Gross Unrealized gains After 10 years | 12,331 | 3,873 | |
Gross Unrealized losses After 10 years | 139 | 758 | |
Allowance for Credit Losses After 10 years | 0 | ||
Fair value After 10 years | $ 591,876 | $ 427,431 | |
Weighted-average yield After 10 years | 1.73% | 2.50% | |
Amortized cost | $ 646,104 | $ 505,734 | |
Gross Unrealized gain | 15,278 | 4,462 | |
Gross Unrealized loss | 139 | 986 | |
Allowance for Credit Losses | 0 | ||
Investment securities available for sale | $ 661,243 | $ 509,210 | |
Weighted-average yield | 1.77% | 2.44% | |
Mortgage Backed Securities [Member] | GNMA [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost After 1 to 5 years | $ 29,736 | $ 4,357 | |
Gross Unrealized gains After 1 to 5 years | 1,141 | 45 | |
Gross Unrealized losses After 1 to 5 years | 0 | 0 | |
Allowance for Credit Losses After 1 to 5 years | 0 | ||
Fair value After 1 to 5 years | $ 30,877 | $ 4,402 | |
Weighted-average yield After 1 to 5 years | 2.92% | 3.26% | |
Amortized cost After 5 to 10 years | $ 44,804 | $ 42,303 | |
Gross Unrealized gains After 5 to 10 years | 121 | 607 | |
Gross Unrealized losses After 5 to 10 years | 107 | 0 | |
Allowance for Credit Losses After 5 to 10 years | 0 | ||
Fair value After 5 to 10 years | $ 44,818 | $ 42,910 | |
Weighted-average yield After 5 to 10 years | 0.61% | 2.77% | |
Amortized cost After 10 years | $ 690,171 | $ 258,944 | |
Gross Unrealized gains After 10 years | 13,154 | 7,126 | |
Gross Unrealized losses After 10 years | 330 | 500 | |
Allowance for Credit Losses After 10 years | 0 | ||
Fair value After 10 years | $ 702,995 | $ 265,570 | |
Weighted-average yield After 10 years | 1.52% | 3.03% | |
Amortized cost | $ 764,713 | $ 305,604 | |
Gross Unrealized gain | 14,416 | 7,778 | |
Gross Unrealized loss | 437 | 500 | |
Allowance for Credit Losses | 0 | ||
Investment securities available for sale | $ 778,692 | $ 312,882 | |
Weighted-average yield | 1.52% | 3.00% | |
Mortgage Backed Securities [Member] | FNMA [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost After 1 to 5 years | $ 24,823 | $ 19,779 | |
Gross Unrealized gains After 1 to 5 years | 1,159 | 415 | |
Gross Unrealized losses After 1 to 5 years | 0 | 3 | |
Allowance for Credit Losses After 1 to 5 years | 0 | ||
Fair value After 1 to 5 years | $ 25,982 | $ 20,191 | |
Weighted-average yield After 1 to 5 years | 2.80% | 2.79% | |
Amortized cost After 5 to 10 years | $ 114,332 | $ 140,599 | |
Gross Unrealized gains After 5 to 10 years | 5,882 | 1,257 | |
Gross Unrealized losses After 5 to 10 years | 0 | 641 | |
Allowance for Credit Losses After 5 to 10 years | 0 | ||
Fair value After 5 to 10 years | $ 120,214 | $ 141,215 | |
Weighted-average yield After 5 to 10 years | 2.12% | 2.14% | |
Amortized cost After 10 years | $ 709,800 | $ 700,213 | |
Gross Unrealized gains After 10 years | 19,848 | 9,006 | |
Gross Unrealized losses After 10 years | 399 | 1,208 | |
Allowance for Credit Losses After 10 years | 0 | ||
Fair value After 10 years | $ 729,249 | $ 708,011 | |
Weighted-average yield After 10 years | 1.95% | 2.58% | |
Amortized cost | $ 848,955 | $ 860,591 | |
Gross Unrealized gain | 26,889 | 10,678 | |
Gross Unrealized loss | 399 | 1,852 | |
Allowance for Credit Losses | 0 | ||
Investment securities available for sale | $ 875,445 | $ 869,417 | |
Weighted-average yield | 2.00% | 2.51% | |
Mortgage Backed Securities [Member] | Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost After 1 to 5 years | $ 581 | $ 608 | |
Gross Unrealized gains After 1 to 5 years | 0 | 0 | |
Gross Unrealized losses After 1 to 5 years | 1 | 1 | |
Allowance for Credit Losses After 1 to 5 years | 0 | ||
Fair value After 1 to 5 years | $ 580 | $ 607 | |
Weighted-average yield After 1 to 5 years | 0.82% | 2.43% | |
Amortized cost After 5 to 10 years | $ 20,055 | ||
Gross Unrealized gains After 5 to 10 years | 123 | ||
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 | $ 20,178 | ||
Weighted-average yield After 5 to 10 years | 0.80% | ||
Amortized cost After 10 years | $ 214,437 | $ 80,130 | |
Gross Unrealized gains After 10 years | 1,375 | 362 | |
Gross Unrealized losses After 10 years | 224 | 220 | |
Allowance for Credit Losses After 10 years | 0 | ||
Fair value After 10 years | $ 215,588 | $ 80,272 | |
Weighted-average yield After 10 years | 1.87% | 2.76% | |
Amortized cost | $ 235,073 | $ 80,738 | |
Gross Unrealized gain | 1,498 | 362 | |
Gross Unrealized loss | 225 | 221 | |
Allowance for Credit Losses | 0 | ||
Investment securities available for sale | $ 236,346 | $ 80,879 | |
Weighted-average yield | 1.77% | 2.75% | |
Mortgage Backed Securities [Member] | Private label [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost After 10 years | $ 13,547 | $ 15,997 | |
Gross Unrealized gains After 10 years | 0 | 0 | |
Gross Unrealized losses After 10 years | 3,630 | 4,881 | |
Allowance for Credit Losses After 10 years | 1,078 | ||
Fair value After 10 years | $ 8,839 | $ 11,116 | |
Weighted-average yield After 10 years | 2.22% | 3.90% | |
Gross Unrealized loss | $ 4,700 | ||
Allowance for Credit Losses | 1,078 | $ 1,323 | $ 0 |
Investment securities available for sale | 8,800 | ||
Other Debt Obligations [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost After 1 to 5 years | 650 | 500 | |
Gross Unrealized gains After 1 to 5 years | 0 | 0 | |
Gross Unrealized losses After 1 to 5 years | 0 | 0 | |
Allowance for Credit Losses After 1 to 5 years | 0 | ||
Fair value After 1 to 5 years | $ 650 | $ 500 | |
Weighted-average yield After 1 to 5 years | 2.94% | 2.95% |
INVESTMENT SECURITIES - Additio
INVESTMENT SECURITIES - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2020 | Dec. 31, 2019 | |
Schedule Of Investments [Line Items] | |||||
Proceeds from Sale of Available-for-sale Securities | $ 1,080,766,000 | $ 0 | |||
Percentage Of Debt Securities Government And Government Sponsored Agencies | 99.00% | 99.00% | |||
Fair value | $ 3,294,649,000 | $ 3,294,649,000 | $ 2,123,525,000 | ||
Gross Unrealized loss | 6,941,000 | 6,941,000 | 10,056,000 | ||
Allowance for Credit Losses | 1,386,000 | 1,386,000 | $ 1,631,000 | 0 | |
Allowance for credit losses, Held-to-Maturity securities | 10,176,000 | 10,176,000 | 0 | ||
Debt Securities, Held-to-maturity, Past Due | $ 0 | $ 0 | |||
Debt Securities, Held-to-maturity, Threshold Period Past Due | 30 days | 30 days | |||
Municipal Bonds [Member] | Puerto Rico [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Allowance for credit losses, Held-to-Maturity securities | $ 10,176,000 | $ 10,176,000 | 9,268,000 | 0 | |
Held to Maturity Amortized cost | 189,156,000 | 189,156,000 | 138,675,000 | ||
Cash and Cash Equivalents [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Held to Maturity Amortized cost | 0 | 0 | |||
MBS [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Proceeds from Sale of Available-for-sale Securities | 1,100,000 | ||||
Gain on Sale of Investments | 13,400,000 | ||||
Fair value | 2,560,565,000 | 2,560,565,000 | 1,783,504,000 | ||
Gross Unrealized loss | 4,830,000 | 4,830,000 | 8,440,000 | ||
Allowance for Credit Losses | 1,078,000 | 1,078,000 | |||
MBS [Member] | Private label [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Fair value | 8,800,000 | 8,800,000 | |||
Gross Unrealized loss | 4,700,000 | 4,700,000 | |||
Allowance for Credit Losses | 1,078,000 | 1,078,000 | 1,323,000 | 0 | |
Puerto Rico Government obligations [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Fair value | 6,900,000 | 6,900,000 | |||
Allowance for Credit Losses | 308,000 | 308,000 | $ 308,000 | $ 0 | |
Net Unrealized loss | 1,100,000 | 1,100,000 | |||
Puerto Rico Government obligations [Member] | Residential pass-through mortgage-backed securities [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Fair value | 2,900,000 | 2,900,000 | |||
Gross Unrealized loss | 1,100,000 | 1,100,000 | |||
Available for sale Securities [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Provision For Other Credit Losses Previous Expected Credit Losses | 0 | 1,323,000 | |||
Provision For Other Credit Losses No Previous Expected Credit Losses | 0 | 308,000 | |||
Available for sale Securities [Member] | MBS [Member] | Private label [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Provision For Other Credit Losses Previous Expected Credit Losses | 0 | 1,323,000 | |||
Provision For Other Credit Losses No Previous Expected Credit Losses | 0 | $ 0 | |||
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 are 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] | 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. | ||||
Available for sale Securities [Member] | Puerto Rico Government obligations [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Provision For Other Credit Losses Previous Expected Credit Losses | 0 | $ 0 | |||
Provision For Other Credit Losses No Previous Expected Credit Losses | 0 | 308,000 | |||
Held-to-maturity Securities [Member] | Municipal Bonds [Member] | Puerto Rico [Member] | |||||
Schedule Of Investments [Line Items] | |||||
Provision for Other Credit Losses | $ (361,000) | $ 773,000 |
INVESTMENT SECURITIES - Availab
INVESTMENT SECURITIES - Available-For-Sale Investments' Fair Value And Gross Unrealized Losses (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value Less than 12 months | $ 688,560 | $ 278,893 |
Unrealized Losses Less than 12 months | 2,245 | 1,634 |
Fair Value 12 months or more | 42,754 | 358,629 |
Unrealized Losses 12 months or more | 4,696 | 8,422 |
Total Fair Value | 731,314 | 637,522 |
Total Unrealized Losses | 6,941 | 10,056 |
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 | 2,907 | 2,974 |
Unrealized Losses 12 months or more | 828 | 1,192 |
Total Fair Value | 2,907 | 2,974 |
Total Unrealized Losses | 828 | 1,192 |
U.S. Treasury and U.S. government agencies obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value Less than 12 months | 242,648 | 45,073 |
Unrealized Losses Less than 12 months | 1,131 | 172 |
Fair Value 12 months or more | 20,985 | 99,764 |
Unrealized Losses 12 months or more | 152 | 252 |
Total Fair Value | 263,633 | 144,837 |
Total Unrealized Losses | 1,283 | 424 |
Mortgage Backed Securities [Member] | FNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value Less than 12 months | 147,286 | 58,668 |
Unrealized Losses Less than 12 months | 399 | 499 |
Fair Value 12 months or more | 0 | 173,708 |
Unrealized Losses 12 months or more | 0 | 1,353 |
Total Fair Value | 147,286 | 232,376 |
Total Unrealized Losses | 399 | 1,852 |
Mortgage Backed Securities [Member] | FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value Less than 12 months | 96,439 | 74,134 |
Unrealized Losses Less than 12 months | 139 | 270 |
Fair Value 12 months or more | 0 | 63,864 |
Unrealized Losses 12 months or more | 0 | 716 |
Total Fair Value | 96,439 | 137,998 |
Total Unrealized Losses | 139 | 986 |
Mortgage Backed Securities [Member] | GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value Less than 12 months | 122,052 | 79,145 |
Unrealized Losses Less than 12 months | 437 | 472 |
Fair Value 12 months or more | 0 | 7,203 |
Unrealized Losses 12 months or more | 0 | 28 |
Total Fair Value | 122,052 | 86,348 |
Total Unrealized Losses | 437 | 500 |
Mortgage Backed Securities [Member] | Collateralized mortgage obligations issued or guaranteed by the FHLMC, FNMA and GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value Less than 12 months | 80,135 | 21,873 |
Unrealized Losses Less than 12 months | 139 | 221 |
Fair Value 12 months or more | 10,023 | 0 |
Unrealized Losses 12 months or more | 86 | 0 |
Total Fair Value | 90,158 | 21,873 |
Total Unrealized Losses | 225 | 221 |
Mortgage Backed Securities [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 | 8,839 | 11,116 |
Unrealized Losses 12 months or more | 3,630 | 4,881 |
Total Fair Value | 8,839 | 11,116 |
Total Unrealized Losses | $ 3,630 | $ 4,881 |
INVESTMENT SECURITIES - Signifi
INVESTMENT SECURITIES - Significant Assumptions in Valuation of Private Label MBS (Detail) - Mortgage Backed Securities [Member] - Private label [Member] | Sep. 30, 2020 | Dec. 31, 2019 |
Discount rate [Member] | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.124 | 0.137 |
Discount rate [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.124 | 0.137 |
Discount rate [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.124 | 0.137 |
Prepayment rate [Member] | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.109 | 0.079 |
Prepayment rate [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.026 | 0.068 |
Prepayment rate [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.137 | 0.103 |
Projected Cumulative Loss Rate [Member] | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.118 | 0.028 |
Projected Cumulative Loss Rate [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.024 | 0 |
Projected Cumulative Loss Rate [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.263 | 0.074 |
INVESTMENT SECURITIES - ACL for
INVESTMENT SECURITIES - ACL for Debt Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||
Beginning Balance | $ 1,631 | $ 0 |
Net charge-offs | (245) | (245) |
Ending Balance | 1,386 | 1,386 |
Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||
Ending Balance | 1,078 | 1,078 |
Mortgage Backed Securities [Member] | Private label [Member] | ||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||
Beginning Balance | 1,323 | 0 |
Net charge-offs | (245) | (245) |
Ending Balance | 1,078 | 1,078 |
Puerto Rico Government obligations [Member] | ||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||
Beginning Balance | 308 | 0 |
Net charge-offs | 0 | 0 |
Ending Balance | 308 | 308 |
Available for sale Securities [Member] | ||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||
Addtions for securities for which no previous expected credit losses were recognized (provision for credit losses) | 0 | 308 |
Addtions for securities for which previous expected credit losses were recognized (provision for credit losses) | 0 | 1,323 |
Available for sale Securities [Member] | Mortgage Backed Securities [Member] | Private label [Member] | ||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||
Addtions for securities for which no previous expected credit losses were recognized (provision for credit losses) | 0 | 0 |
Addtions for securities for which previous expected credit losses were recognized (provision for credit losses) | 0 | 1,323 |
Available for sale Securities [Member] | Puerto Rico Government obligations [Member] | ||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||
Addtions for securities for which no previous expected credit losses were recognized (provision for credit losses) | 0 | 308 |
Addtions for securities for which previous expected credit losses were recognized (provision for credit losses) | $ 0 | $ 0 |
INVESTMENT SECURITIES - OTTI on
INVESTMENT SECURITIES - OTTI on Available for Sale Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Debt and Equity Securities [Abstract] | ||
Total OTTI losses | $ (557) | $ (557) |
Portion of OTTI recognized in OCI | 60 | 60 |
Net impairment losses recognized in earnings | $ (497) | $ (497) |
INVESTMENT SECURITIES - Inves_2
INVESTMENT SECURITIES - Investment Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Schedule Of Held To Maturity Securities [Line Items] | |||
Held to Maturity Fair value | $ 166,974 | $ 110,374 | |
Allowance for credit losses, Held-to-Maturity securities | 10,176 | 0 | |
Municipal Bonds [Member] | PUERTO RICO | |||
Schedule Of Held To Maturity Securities [Line Items] | |||
Held to Maturity Amortized Cost Due within one year | 550 | 321 | |
Held to Maturity Gross Unrecognized gains Due within one year | 0 | 0 | |
Held to Maturity Gross Unrecognized losses Due within one year | 26 | 6 | |
Held to Maturity Fair value Due within one year | 524 | $ 315 | |
Allowance for credit losses Due within one year | $ 133 | ||
Held to Maturity Weighted-average yield Due within one year | 5.41% | 5.84% | |
Held to Maturity Amortized Cost After 1 to 5 years | $ 17,203 | $ 8,264 | |
Held to Maturity Gross Unrecognized gains After 1 to 5 years | 0 | 0 | |
Held to Maturity Gross Unrecognized losses After 1 to 5 years | 611 | 736 | |
Held to Maturity Fair value After 1 to 5 years | 16,592 | $ 7,528 | |
Allowance for credit losses After 1 to 5 years | $ 375 | ||
Held to Maturity Weighted-average yield After 1 to 5 years | 3.11% | 5.18% | |
Held to Maturity Amortized Cost After 5 to 10 years | $ 88,224 | $ 56,511 | |
Held to Maturity Gross Unrecognized gains After 5 to 10 years | 0 | 0 | |
Held to Maturity Gross Unrecognized losses After 5 to 10 years | 5,387 | 8,646 | |
Held to Maturity Fair value After 5 to 10 years | 82,837 | $ 47,865 | |
Allowance for credit losses After 5 to 10 years | $ 3,773 | ||
Held to Maturity Weighted-average yield After 5 to 10 years | 4.68% | 5.77% | |
Held to Maturity Amortized Cost After 10 years | $ 83,179 | $ 73,579 | |
Held to Maturity Gross Unrecognized gains After 10 years | 0 | 0 | |
Held to Maturity Gross Unrecognized losses After 10 years | 16,158 | 18,913 | |
Held to Maturity Fair value After 10 years | 67,021 | $ 54,666 | |
Allowance for credit losses After 10 years | $ 5,895 | ||
Held to Maturity Weighted-average yield After 10 years | 3.62% | 5.44% | |
Held to Maturity Amortized cost | $ 189,156 | $ 138,675 | |
Held to Maturity Gross Unrecognized gains | 0 | 0 | |
Held to Maturity Gross Unrecognized losses | 22,182 | 28,301 | |
Held to Maturity Fair value | 166,974 | 110,374 | |
Allowance for credit losses, Held-to-Maturity securities | $ 10,176 | $ 9,268 | $ 0 |
Held to Maturity Weighted-average yield | 4.07% | 5.56% |
INVESTMENT SECURITIES - Inves_3
INVESTMENT SECURITIES - Investment Securities Held to Maturity (Securities in continuous unrealized loss position) (Detail) - PUERTO RICO - Municipal Bonds [Member] - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity less than twelve months fair value | $ 55,643 | $ 0 |
Held to maturity less than twelve months unrealized losses | 1,269 | 0 |
Held to maturity securities twelve months or longer fair value | 111,331 | 110,374 |
Held to maturity securities twelve month or longer unrealized losses | 20,913 | 28,301 |
Held to maturity unrealized loss position fair value | 166,974 | 110,374 |
Held to maturity unrealized loss position aggregate losses | $ 22,182 | $ 28,301 |
INVESTMENT SECURITIES - ACL on
INVESTMENT SECURITIES - ACL on Debt Securities Held-To-Maturity (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Sep. 30, 2020 | Sep. 30, 2020 | Jul. 01, 2020 | Jan. 01, 2020 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||||
Beginning Balance | $ 0 | ||||
Initial allowance on PCD debt securities | $ 1,269 | ||||
Ending Balance | $ 10,176 | 10,176 | |||
Municipal Bonds [Member] | PUERTO RICO | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||||
Beginning Balance | 9,268 | 0 | |||
Initial allowance on PCD debt securities | $ 1,269 | ||||
Ending Balance | 10,176 | 10,176 | |||
Municipal Bonds [Member] | PUERTO RICO | ASC 326 | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||||
Ending Balance | 10,200 | 10,200 | |||
Municipal Bonds [Member] | PUERTO RICO | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||||
Impact of adopting ASC 326 on Held-to-maturity securities | $ 0 | $ 8,134 | |||
Municipal Bonds [Member] | PUERTO RICO | Held-to-maturity Securities [Member] | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||||
Provision for credit loss expense | $ (361) | $ 773 |
INVESTMENT SECURITIES - Reconci
INVESTMENT SECURITIES - Reconciliation of the Par Value of Held-to-Maturity Acquired in the Santander Acquisition with the Purchase Price (Detail) $ in Thousands | Sep. 01, 2020USD ($) |
Debt and Equity Securities [Abstract] | |
Par value of acquired debt securities at acquisition | $ 67,082 |
Allowance for credit losses at acquisition | 1,269 |
Non-credit discount at acquisition | 10,281 |
Purchase price of debt securities at acquisition (initial fair value) | $ 55,532 |
INVESTMENT SECURITIES - Debt Se
INVESTMENT SECURITIES - Debt Securities Held-to-Maturity by Credit Quality Indicator (Detail) - Municipal Bonds [Member] - PUERTO RICO - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to Maturity Amortized cost | $ 189,156 | $ 138,675 |
Pass [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to Maturity Amortized cost | 189,156 | 138,675 |
Special Mention [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to Maturity Amortized cost | 0 | 0 |
Substandard [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to Maturity Amortized cost | 0 | 0 |
Doubtful [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to Maturity Amortized cost | 0 | 0 |
Loss [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to Maturity Amortized cost | $ 0 | $ 0 |
EQUITY SECURITIES - Additional
EQUITY SECURITIES - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Summary of Investment Holdings [Line Items] | |||||
Capital stock par value | $ 100 | $ 100 | |||
Book value of investment in FHLB stock | $ 33,500 | $ 33,500 | $ 34,100 | ||
Market-to-market gains (losses) | 10,132 | $ 9,411 | 29,263 | $ 28,277 | |
Equity Securities [Member] | |||||
Summary of Investment Holdings [Line Items] | |||||
Equity Securities, FV-NI | 1,500 | 1,500 | 1,400 | ||
Market-to-market gains (losses) | (2) | 40 | 10 | ||
Equity Securities without Readily Determinable Fair Value, Amount | 4,300 | 4,300 | $ 2,800 | ||
Investment in Federal Home Loan Bank Stock [Member] | |||||
Summary of Investment Holdings [Line Items] | |||||
Dividend income from FHLB stock | $ 400 | $ 700 | $ 1,500 | $ 2,000 |
LOANS HELD FOR INVESTMENT - Loa
LOANS HELD FOR INVESTMENT - Loan Portfolio Held for Investment (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Loans held for investment | $ 11,847,275 | $ 9,002,205 | ||||
Allowance for credit losses on loans and finance leases | (384,718) | $ (319,297) | (155,139) | $ (165,575) | $ (172,011) | $ (196,362) |
Loans, net of allowance for credit losses of $384,718 (2019 - $155,139) | 11,462,557 | 8,847,066 | ||||
Residential Portfolio Segment [Member] | ||||||
Loans held for investment | 3,636,713 | 2,933,773 | ||||
Allowance for credit losses on loans and finance leases | (131,781) | (111,450) | (44,806) | (46,032) | (48,284) | (50,794) |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Loans held for investment | 3,226,843 | 2,230,876 | ||||
Allowance for credit losses on loans and finance leases | (42,909) | (38,310) | (15,198) | (17,618) | (21,644) | (32,546) |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Loans held for investment | 2,220,277 | 1,444,586 | ||||
Allowance for credit losses on loans and finance leases | (75,726) | (49,435) | (39,194) | (44,848) | (46,373) | (55,581) |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Loans held for investment | 191,356 | 111,317 | ||||
Allowance for credit losses on loans and finance leases | (10,241) | (7,800) | (2,370) | (3,059) | (3,026) | (3,592) |
Consumer Portfolio Segment [Member] | ||||||
Loans held for investment | 2,572,086 | 2,281,653 | ||||
Allowance for credit losses on loans and finance leases | $ (124,061) | $ (112,302) | $ (53,571) | $ (54,018) | $ (52,684) | $ (53,849) |
LOANS HELD FOR INVESTMENT - L_2
LOANS HELD FOR INVESTMENT - Loan Portfolio Held for Investment (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, before Allowance for Credit Loss | $ 11,847,275 | $ 9,002,205 |
Unaccreted fair value net purchase discounts | 51,800 | 15,100 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 3,226,843 | 2,230,876 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | COVID-19 | Small Business Administration | ||
Financing Receivable, before Allowance for Credit Loss | 453,400 | |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Commercial loans secured by real estate | ||
Financing Receivable, before Allowance for Credit Loss | $ 1,000 | $ 719,000 |
LOANS HELD FOR INVESTMENT - Cor
LOANS HELD FOR INVESTMENT - Corporation's Nonaccrual Status and Loans 90 Days or More Still Accruing (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | |
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | $ 28,972 | $ 28,972 | |
Nonaccrual Loans with ACL | 172,318 | 172,318 | |
Total Nonaccrual Loans | 201,290 | 201,290 | $ 210,668 |
Loans Past Due 90 days or more and Still Accruing | 157,410 | 157,410 | 135,042 |
Interest Income Recognized on Nonaccrual Loans | 412 | 1,497 | |
Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 28,535 | 28,535 | |
Nonaccrual Loans with ACL | 156,790 | 156,790 | |
Total Nonaccrual Loans | 185,325 | 185,325 | 196,383 |
Loans Past Due 90 days or more and Still Accruing | 157,159 | 157,159 | 134,913 |
Interest Income Recognized on Nonaccrual Loans | 374 | 1,307 | |
Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 437 | 437 | |
Nonaccrual Loans with ACL | 15,528 | 15,528 | |
Total Nonaccrual Loans | 15,965 | 15,965 | 14,285 |
Loans Past Due 90 days or more and Still Accruing | 251 | 251 | 129 |
Interest Income Recognized on Nonaccrual Loans | 38 | 190 | |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 9,887 | 9,887 | |
Nonaccrual Loans with ACL | 112,910 | 112,910 | |
Total Nonaccrual Loans | 122,797 | 122,797 | 121,408 |
Loans Past Due 90 days or more and Still Accruing | 40,595 | 40,595 | 40,208 |
Interest Income Recognized on Nonaccrual Loans | 288 | 969 | |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 9,697 | 9,697 | |
Nonaccrual Loans with ACL | 98,600 | 98,600 | |
Total Nonaccrual Loans | 108,297 | 108,297 | 108,117 |
Loans Past Due 90 days or more and Still Accruing | 40,595 | 40,595 | 40,208 |
Interest Income Recognized on Nonaccrual Loans | 269 | 835 | |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 190 | 190 | |
Nonaccrual Loans with ACL | 14,310 | 14,310 | |
Total Nonaccrual Loans | 14,500 | 14,500 | 13,291 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 19 | 134 | |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 111,132 | 111,132 | 81,140 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 110,882 | 110,882 | 81,011 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 250 | 250 | 129 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 6,692 | 6,692 | |
Nonaccrual Loans with ACL | 14,190 | 14,190 | |
Total Nonaccrual Loans | 20,882 | 20,882 | 18,773 |
Loans Past Due 90 days or more and Still Accruing | 1,014 | 1,014 | 7,061 |
Interest Income Recognized on Nonaccrual Loans | 43 | 119 | |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 6,445 | 6,445 | |
Nonaccrual Loans with ACL | 13,444 | 13,444 | |
Total Nonaccrual Loans | 19,889 | 19,889 | 18,458 |
Loans Past Due 90 days or more and Still Accruing | 1,014 | 1,014 | 7,061 |
Interest Income Recognized on Nonaccrual Loans | 24 | 67 | |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 247 | 247 | |
Nonaccrual Loans with ACL | 746 | 746 | |
Total Nonaccrual Loans | 993 | 993 | 315 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 19 | 52 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 11,437 | 11,437 | |
Nonaccrual Loans with ACL | 18,214 | 18,214 | |
Total Nonaccrual Loans | 29,651 | 29,651 | 40,076 |
Loans Past Due 90 days or more and Still Accruing | 3,328 | 3,328 | 2,222 |
Interest Income Recognized on Nonaccrual Loans | 35 | 142 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 11,437 | 11,437 | |
Nonaccrual Loans with ACL | 18,214 | 18,214 | |
Total Nonaccrual Loans | 29,651 | 29,651 | 40,076 |
Loans Past Due 90 days or more and Still Accruing | 3,328 | 3,328 | 2,222 |
Interest Income Recognized on Nonaccrual Loans | 35 | 142 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 956 | 956 | |
Nonaccrual Loans with ACL | 12,134 | 12,134 | |
Total Nonaccrual Loans | 13,090 | 13,090 | 9,782 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 19 | 61 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 956 | 956 | |
Nonaccrual Loans with ACL | 12,134 | 12,134 | |
Total Nonaccrual Loans | 13,090 | 13,090 | 9,782 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 19 | 61 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Auto loans [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 9,071 | 9,071 | |
Total Nonaccrual Loans | 9,071 | 9,071 | 12,220 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 17 | 138 | |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 9,071 | 9,071 | |
Total Nonaccrual Loans | 9,071 | 9,071 | 12,057 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 17 | 138 | |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 163 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 879 | 879 | |
Total Nonaccrual Loans | 879 | 879 | 1,354 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 2 | 23 | |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 879 | 879 | |
Total Nonaccrual Loans | 879 | 879 | 1,354 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 2 | 23 | |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 1,445 | 1,445 | |
Total Nonaccrual Loans | 1,445 | 1,445 | 1,528 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 8 | 36 | |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 1,445 | 1,445 | |
Total Nonaccrual Loans | 1,445 | 1,445 | 1,523 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 8 | 36 | |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 5 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Credit cards [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 1,340 | 1,340 | 4,411 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Credit cards [Member] | Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 1,340 | 1,340 | 4,411 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Credit cards [Member] | Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 0 | 0 | |
Total Nonaccrual Loans | 0 | 0 | 0 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 3,475 | 3,475 | |
Total Nonaccrual Loans | 3,475 | 3,475 | 5,527 |
Loans Past Due 90 days or more and Still Accruing | 1 | 1 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | 9 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 3,003 | 3,003 | |
Total Nonaccrual Loans | 3,003 | 3,003 | 5,016 |
Loans Past Due 90 days or more and Still Accruing | 0 | 0 | 0 |
Interest Income Recognized on Nonaccrual Loans | 0 | 5 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member] | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual Loans with No ACL | 0 | 0 | |
Nonaccrual Loans with ACL | 472 | 472 | |
Total Nonaccrual Loans | 472 | 472 | 511 |
Loans Past Due 90 days or more and Still Accruing | 1 | 1 | $ 0 |
Interest Income Recognized on Nonaccrual Loans | $ 0 | $ 4 |
LOANS HELD FOR INVESTMENT - C_2
LOANS HELD FOR INVESTMENT - Corporation's Nonaccrual Status and Loans 90 Days or More Still Accruing (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 11,847,275 | $ 9,002,205 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 157,410 | 135,042 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 9,834,201 | 7,128,277 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 157,159 | 134,913 |
Florida region [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,013,074 | 1,873,928 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 251 | 129 |
Residential Portfolio Segment [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,636,713 | 2,933,773 |
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,100,359 | 2,367,587 |
Residential Portfolio Segment [Member] | Florida region [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 536,354 | 566,186 |
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 17,700 | 35,300 |
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 17,700 | 35,300 |
PCD loans [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 133,200 | 136,700 |
PCD loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 133,200 | 136,700 |
Accrual Status [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring | 399,700 | 398,300 |
Accrual Status [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring | 390,100 | 388,400 |
Accrual Status [Member] | Florida region [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring | $ 9,500 | $ 9,900 |
LOANS HELD FOR INVESTMENT - C_3
LOANS HELD FOR INVESTMENT - Corporation's Aging of Loans Held for Investment Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | $ 469,078 | $ 508,378 |
Current | 11,378,197 | 8,493,827 |
Loans held for investment | 11,847,275 | 9,002,205 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 443,180 | 488,879 |
Current | 9,391,021 | 6,639,398 |
Loans held for investment | 9,834,201 | 7,128,277 |
Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 25,898 | 19,499 |
Current | 1,987,176 | 1,854,429 |
Loans held for investment | 2,013,074 | 1,873,928 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 46,432 | 55,640 |
30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 38,586 | 53,892 |
30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 7,846 | 1,748 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 63,946 | 107,028 |
60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 62,110 | 103,691 |
60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,836 | 3,337 |
90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 358,700 | 345,710 |
90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 342,484 | 331,296 |
90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 16,216 | 14,414 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 3,636,713 | 2,933,773 |
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 3,100,359 | 2,367,587 |
Residential Portfolio Segment [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 536,354 | 566,186 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 204,487 | 247,117 |
Current | 3,269,424 | 2,562,747 |
Loans held for investment | 3,473,911 | 2,809,864 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 189,725 | 231,633 |
Current | 2,749,008 | 2,013,525 |
Loans held for investment | 2,938,733 | 2,245,158 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 14,762 | 15,484 |
Current | 520,416 | 549,222 |
Loans held for investment | 535,178 | 564,706 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Loans held for investment | 111,000 | 116,200 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Loans held for investment | 96,600 | 110,500 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Loans held for investment | 14,400 | 5,800 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 41,095 | 85,501 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 40,833 | 83,308 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 262 | 2,193 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 163,392 | 161,616 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 148,892 | 148,325 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 14,500 | 13,291 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 114,580 | 83,208 |
Current | 48,222 | 40,701 |
Loans held for investment | 162,802 | 123,909 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 114,330 | 83,079 |
Current | 47,296 | 39,350 |
Loans held for investment | 161,626 | 122,429 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 250 | 129 |
Current | 926 | 1,351 |
Loans held for investment | 1,176 | 1,480 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Loans held for investment | 6,300 | 7,100 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Loans held for investment | 6,100 | 6,700 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Loans held for investment | 400 | |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,448 | 2,068 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,448 | 2,068 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 111,132 | 81,140 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 110,882 | 81,011 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 250 | 129 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 36,364 | 27,724 |
Current | 3,190,479 | 2,203,152 |
Loans held for investment | 3,226,843 | 2,230,876 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 33,192 | 27,078 |
Current | 2,254,403 | 1,364,335 |
Loans held for investment | 2,287,595 | 1,391,413 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,172 | 646 |
Current | 936,076 | 838,817 |
Loans held for investment | 939,248 | 839,463 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 41,927 | 45,849 |
Current | 2,178,350 | 1,398,737 |
Loans held for investment | 2,220,277 | 1,444,586 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 40,378 | 44,979 |
Current | 1,793,903 | 1,034,921 |
Loans held for investment | 1,834,281 | 1,079,900 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,549 | 870 |
Current | 384,447 | 363,816 |
Loans held for investment | 385,996 | 364,686 |
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 12,980 | 1,785 |
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 11,445 | 1,454 |
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Commercial And Industrial Sector [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,535 | 331 |
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,168 | 0 |
Loans held for investment | 8,300 | 6,600 |
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 973 | 0 |
Loans held for investment | 6,700 | 6,000 |
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member] | Mortgage Receivable [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,195 | 0 |
Loans held for investment | 600 | |
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,488 | 105 |
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 844 | 105 |
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Commercial And Industrial Sector [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 644 | 0 |
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 6,780 | 3,551 |
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 6,426 | 2,681 |
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member] | Mortgage Receivable [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 354 | 870 |
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 21,896 | 25,834 |
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Commercial And Industrial Sector [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 20,903 | 25,519 |
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Commercial And Industrial Sector [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 993 | 315 |
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 32,979 | 42,298 |
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 32,979 | 42,298 |
Commercial Portfolio Segment [Member] | 90 days or more Past Due [Member] | Mortgage Receivable [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 19,799 | 9,887 |
Current | 171,557 | 101,430 |
Loans held for investment | 191,356 | 111,317 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 15,479 | 9,887 |
Current | 54,527 | 38,359 |
Loans held for investment | 70,006 | 48,246 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 4,320 | 0 |
Current | 117,030 | 63,071 |
Loans held for investment | 121,350 | 63,071 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 4,912 | 0 |
Loans held for investment | 500 | 100 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 592 | 0 |
Loans held for investment | 500 | 100 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 4,320 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,797 | 105 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,797 | 105 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 13,090 | 9,782 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 13,090 | 9,782 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,572,086 | 2,281,653 |
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,541,960 | 2,241,131 |
Consumer Portfolio Segment [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 30,126 | 40,522 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 27,255 | 57,192 |
Current | 1,218,625 | 1,077,663 |
Loans held for investment | 1,245,880 | 1,134,855 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 26,079 | 55,487 |
Current | 1,198,284 | 1,048,873 |
Loans held for investment | 1,224,363 | 1,104,360 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,176 | 1,705 |
Current | 20,341 | 28,790 |
Loans held for investment | 21,517 | 30,495 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 14,824 | 36,433 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 14,224 | 35,163 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 600 | 1,270 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,360 | 8,539 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,784 | 8,267 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 576 | 272 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 9,071 | 12,220 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 9,071 | 12,057 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 163 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 8,015 | 9,257 |
Current | 450,366 | 405,275 |
Loans held for investment | 458,381 | 414,532 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 8,015 | 9,257 |
Current | 450,366 | 405,275 |
Loans held for investment | 458,381 | 414,532 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 0 | 0 |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 5,528 | 6,501 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 5,528 | 6,501 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,608 | 1,402 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,608 | 1,402 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 879 | 1,354 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 879 | 1,354 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 7,427 | 7,620 |
Current | 380,266 | 267,255 |
Loans held for investment | 387,693 | 274,875 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 7,427 | 7,615 |
Current | 380,133 | 266,478 |
Loans held for investment | 387,560 | 274,093 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 5 |
Current | 133 | 777 |
Loans held for investment | 133 | 782 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,556 | 4,008 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,556 | 4,008 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,426 | 2,084 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,426 | 2,084 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,445 | 1,528 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,445 | 1,523 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 5 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,235 | 9,403 |
Current | 324,414 | 282,887 |
Loans held for investment | 327,649 | 292,290 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,235 | 9,403 |
Current | 324,414 | 282,887 |
Loans held for investment | 327,649 | 292,290 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 0 | 0 |
Loans held for investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,085 | 2,896 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,085 | 2,896 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 810 | 2,096 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 810 | 2,096 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,340 | 4,411 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,340 | 4,411 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 5,989 | 11,121 |
Current | 146,494 | 153,980 |
Loans held for investment | 152,483 | 165,101 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 5,320 | 10,461 |
Current | 138,687 | 145,395 |
Loans held for investment | 144,007 | 155,856 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 669 | 660 |
Current | 7,807 | 8,585 |
Loans held for investment | 8,476 | 9,245 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,379 | 4,017 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,183 | 3,870 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 196 | 147 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,134 | 1,577 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,134 | 1,575 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 2 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,476 | 5,527 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 3,003 | 5,016 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | $ 473 | $ 511 |
LOANS HELD FOR INVESTMENT - C_4
LOANS HELD FOR INVESTMENT - Corporation's Aging of Loans Held for Investment Portfolio (Parenthetical) (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Financing Receivable, Past Due [Line Items] | ||
Current | $ 11,378,197,000 | $ 8,493,827,000 |
Financing Receivable, Past Due | 469,078,000 | 508,378,000 |
Loans held for investment | 11,847,275,000 | 9,002,205,000 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 9,391,021,000 | 6,639,398,000 |
Financing Receivable, Past Due | 443,180,000 | 488,879,000 |
Loans held for investment | 9,834,201,000 | 7,128,277,000 |
Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 1,987,176,000 | 1,854,429,000 |
Financing Receivable, Past Due | 25,898,000 | 19,499,000 |
Loans held for investment | 2,013,074,000 | 1,873,928,000 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 46,432,000 | 55,640,000 |
30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 38,586,000 | 53,892,000 |
30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 7,846,000 | 1,748,000 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 63,946,000 | 107,028,000 |
60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 62,110,000 | 103,691,000 |
60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,836,000 | 3,337,000 |
90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 358,700,000 | 345,710,000 |
90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 342,484,000 | 331,296,000 |
90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 16,216,000 | 14,414,000 |
PCD loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 133,200,000 | 136,700,000 |
PCD loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 133,200,000 | 136,700,000 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,572,086,000 | 2,281,653,000 |
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 2,541,960,000 | 2,241,131,000 |
Consumer Portfolio Segment [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | $ 30,126,000 | $ 40,522,000 |
Consumer Portfolio Segment [Member] | Credit Card [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Threshold Period Past Due, Writeoff | 180 days | 180 days |
Consumer Portfolio Segment [Member] | Credit Card [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Threshold Period Past Due, Writeoff | 180 days | 180 days |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | $ 3,636,713,000 | $ 2,933,773,000 |
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 3,100,359,000 | 2,367,587,000 |
Residential Portfolio Segment [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment | 536,354,000 | 566,186,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 3,269,424,000 | 2,562,747,000 |
Financing Receivable, Past Due | 204,487,000 | 247,117,000 |
Loans held for investment | 3,473,911,000 | 2,809,864,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 2,749,008,000 | 2,013,525,000 |
Financing Receivable, Past Due | 189,725,000 | 231,633,000 |
Loans held for investment | 2,938,733,000 | 2,245,158,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 520,416,000 | 549,222,000 |
Financing Receivable, Past Due | 14,762,000 | 15,484,000 |
Loans held for investment | 535,178,000 | 564,706,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Loans held for investment | 111,000,000 | 116,200,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Loans held for investment | 96,600,000 | 110,500,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Loans held for investment | 14,400,000 | 5,800,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 41,095,000 | 85,501,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 40,833,000 | 83,308,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 262,000 | 2,193,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 163,392,000 | 161,616,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 148,892,000 | 148,325,000 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 14,500,000 | 13,291,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, 15 Months or More Past Due, No Still Accruing | $ 54,100,000 | $ 37,900,000 |
Period Of Residential Mortgage Loan That Are No Longer Accruing Interest | 15 months | 15 months |
Current | $ 48,222,000 | $ 40,701,000 |
Financing Receivable, Past Due | 114,580,000 | 83,208,000 |
Loans held for investment | 162,802,000 | 123,909,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, 15 Months or More Past Due, No Still Accruing | $ 54,100,000 | $ 37,900,000 |
Period Of Residential Mortgage Loan That Are No Longer Accruing Interest | 15 months | 15 months |
Current | $ 47,296,000 | $ 39,350,000 |
Financing Receivable, Past Due | 114,330,000 | 83,079,000 |
Loans held for investment | 161,626,000 | 122,429,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, 15 Months or More Past Due, No Still Accruing | $ 0 | $ 0 |
Period Of Residential Mortgage Loan That Are No Longer Accruing Interest | 15 months | 15 months |
Current | $ 926,000 | $ 1,351,000 |
Financing Receivable, Past Due | 250,000 | 129,000 |
Loans held for investment | 1,176,000 | 1,480,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Loans held for investment | 6,300,000 | 7,100,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Loans held for investment | 6,100,000 | 6,700,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Loans held for investment | 400,000 | |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 3,448,000 | 2,068,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 3,448,000 | 2,068,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 111,132,000 | 81,140,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 110,882,000 | 81,011,000 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 250,000 | 129,000 |
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 17,700,000 | 35,600,000 |
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 17,700,000 | 35,600,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 2,178,350,000 | 1,398,737,000 |
Financing Receivable, Past Due | 41,927,000 | 45,849,000 |
Loans held for investment | 2,220,277,000 | 1,444,586,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 1,793,903,000 | 1,034,921,000 |
Financing Receivable, Past Due | 40,378,000 | 44,979,000 |
Loans held for investment | 1,834,281,000 | 1,079,900,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 384,447,000 | 363,816,000 |
Financing Receivable, Past Due | 1,549,000 | 870,000 |
Loans held for investment | 385,996,000 | 364,686,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 2,168,000 | 0 |
Loans held for investment | 8,300,000 | 6,600,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 973,000 | 0 |
Loans held for investment | 6,700,000 | 6,000,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,195,000 | 0 |
Loans held for investment | 600,000 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 6,780,000 | 3,551,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 6,426,000 | 2,681,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 354,000 | 870,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 32,979,000 | 42,298,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 32,979,000 | 42,298,000 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 171,557,000 | 101,430,000 |
Financing Receivable, Past Due | 19,799,000 | 9,887,000 |
Loans held for investment | 191,356,000 | 111,317,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 54,527,000 | 38,359,000 |
Financing Receivable, Past Due | 15,479,000 | 9,887,000 |
Loans held for investment | 70,006,000 | 48,246,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Current | 117,030,000 | 63,071,000 |
Financing Receivable, Past Due | 4,320,000 | 0 |
Loans held for investment | 121,350,000 | 63,071,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 4,912,000 | 0 |
Loans held for investment | 500,000 | 100,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 592,000 | 0 |
Loans held for investment | 500,000 | 100,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 30-59 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 4,320,000 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,797,000 | 105,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,797,000 | 105,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 60-89 Days Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 13,090,000 | 9,782,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 13,090,000 | 9,782,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | 90 days or more Past Due [Member] | Florida region [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT - C_5
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 | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | $ 11,847,275 | $ 9,002,205 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 9,834,201 | 7,128,277 |
Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 2,013,074 | 1,873,928 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 803,340 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 750,752 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 350,467 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 339,767 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 123,294 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 370,090 | |
Financing Receivable, Revolving | 489,133 | |
Loans held for investment | 3,226,843 | 2,230,876 |
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 | 584,477 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 423,230 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 240,397 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 243,292 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 111,813 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 314,273 | |
Financing Receivable, Revolving | 370,113 | |
Loans held for investment | 2,287,595 | 1,391,413 |
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 | 218,863 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 327,522 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 110,070 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 96,475 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,481 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 55,817 | |
Financing Receivable, Revolving | 119,020 | |
Loans held for investment | 939,248 | 839,463 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 758,065 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 687,758 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 335,040 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 313,187 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 121,608 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 318,461 | |
Financing Receivable, Revolving | 454,560 | |
Loans held for investment | 2,988,679 | 2,159,501 |
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 | 583,697 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 421,939 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 237,053 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 223,065 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 110,127 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 264,373 | |
Financing Receivable, Revolving | 336,286 | |
Loans held for investment | 2,176,540 | 1,321,804 |
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 | 174,368 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 265,819 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 97,987 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 90,122 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,481 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 54,088 | |
Financing Receivable, Revolving | 118,274 | |
Loans held for investment | 812,139 | 837,697 |
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 | 5,736 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 61,703 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,705 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8,106 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 83 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 29,537 | |
Financing Receivable, Revolving | 28,288 | |
Loans held for investment | 146,158 | 39,327 |
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 | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 622 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,753 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 83 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 29,537 | |
Financing Receivable, Revolving | 28,288 | |
Loans held for investment | 60,283 | 39,327 |
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 | 5,736 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 61,703 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,083 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,353 | |
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 | 85,875 | 0 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 39,539 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,291 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,722 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18,474 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,603 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 22,092 | |
Financing Receivable, Revolving | 6,285 | |
Loans held for investment | 92,006 | 29,031 |
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 | 780 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,291 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,722 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18,474 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,603 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 20,363 | |
Financing Receivable, Revolving | 5,539 | |
Loans held for investment | 50,772 | 27,265 |
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 | 38,759 | |
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 | 1,729 | |
Financing Receivable, Revolving | 746 | |
Loans held for investment | 41,234 | 1,766 |
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 | 2,768 |
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 | 2,768 |
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 | 249 |
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 | 249 |
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 | 149,046 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 481,664 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 355,260 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 411,751 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 222,096 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 574,744 | |
Financing Receivable, Revolving | 25,716 | |
Loans held for investment | 2,220,277 | 1,444,586 |
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 | 116,238 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 369,306 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 305,498 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 333,253 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 181,817 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 528,156 | |
Financing Receivable, Revolving | 13 | |
Loans held for investment | 1,834,281 | 1,079,900 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 32,808 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 112,358 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 49,762 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 78,498 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 40,279 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 46,588 | |
Financing Receivable, Revolving | 25,703 | |
Loans held for investment | 385,996 | 364,686 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 148,854 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 368,337 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 294,865 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 277,315 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 201,895 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 497,335 | |
Financing Receivable, Revolving | 24,516 | |
Loans held for investment | 1,813,117 | 1,255,668 |
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 | 116,046 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 286,759 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 251,885 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 213,998 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 172,380 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 468,307 | |
Financing Receivable, Revolving | 13 | |
Loans held for investment | 1,509,388 | 891,298 |
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 | 32,808 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 81,578 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 42,980 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 63,317 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 29,515 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 29,028 | |
Financing Receivable, Revolving | 24,503 | |
Loans held for investment | 303,729 | 364,370 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [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 | 113,230 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 60,395 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 134,436 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 19,528 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 28,596 | |
Financing Receivable, Revolving | 1,200 | |
Loans held for investment | 357,385 | 13,080 |
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 | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 82,450 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 53,613 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 119,255 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,764 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 11,362 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 275,444 | 13,080 |
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 | 30,780 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6,782 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,181 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,764 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 17,234 | |
Financing Receivable, Revolving | 1,200 | |
Loans held for investment | 81,941 | 0 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 192 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 97 | |
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 | 673 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 48,813 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 49,775 | 175,838 |
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 | 192 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 97 | |
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 | 673 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 48,487 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 49,449 | 175,522 |
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 | 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 | 326 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 326 | 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 | 70,000 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 37,289 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 53,371 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,326 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,192 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7,746 | |
Financing Receivable, Revolving | 432 | |
Loans held for investment | 191,356 | 111,317 |
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 | 11,715 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 21,237 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6,790 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,326 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,192 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7,746 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 70,006 | 48,246 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 58,285 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 16,052 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 46,581 | |
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 | 432 | |
Loans held for investment | 121,350 | 63,071 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 70,000 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35,623 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 48,395 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,326 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,923 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,304 | |
Financing Receivable, Revolving | 432 | |
Loans held for investment | 175,003 | 98,751 |
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 | 11,715 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 19,571 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,814 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,326 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,923 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,304 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 53,653 | 35,680 |
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 | 58,285 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 16,052 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 46,581 | |
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 | 432 | |
Loans held for investment | 121,350 | 63,071 |
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 | 780 | |
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 | 780 | 0 |
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 | 780 | |
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 | 780 | 0 |
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 | 886 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,976 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5,269 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,442 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 15,573 | 12,566 |
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 | 886 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,976 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5,269 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,442 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 15,573 | 12,566 |
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_6
LOANS HELD FOR INVESTMENT - Corporation's Residential Mortgage Loans by Origination Year Based on Original Loan-to-Value-Ratio (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | $ 11,847,275 | $ 9,002,205 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 9,834,201 | 7,128,277 |
Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 2,013,074 | 1,873,928 |
Residential Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 59,105 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 130,248 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 188,166 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 179,929 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 217,522 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,861,743 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,636,713 | 2,933,773 |
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 30,680 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 74,990 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 121,271 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 82,549 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 129,927 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,660,942 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,100,359 | 2,367,587 |
Residential Portfolio Segment [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 28,425 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 55,258 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 66,895 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 97,380 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 87,595 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 200,801 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 536,354 | 566,186 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 235 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,124 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,900 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,274 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,406 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 141,863 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 162,802 | 123,909 |
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 | 235 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,124 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,900 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,987 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,406 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 140,974 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 161,626 | 122,429 |
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 | 287 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 889 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,176 | 1,480 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 3,473,911 | 2,809,864 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 2,938,733 | 2,245,158 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 535,178 | 564,706 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Less than or equal to 90 percent [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 49,248 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 118,033 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 168,762 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 163,167 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 182,526 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,191,325 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 2,873,061 | 2,234,190 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Less than or equal to 90 percent [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 26,931 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 64,816 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 104,823 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 70,490 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 97,267 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,992,451 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 2,356,778 | 1,684,340 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Less than or equal to 90 percent [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 22,317 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 53,217 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 63,939 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 92,677 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 85,259 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 198,874 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 516,283 | 549,850 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 90 percent but less than or equal to 100 percent [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 9,622 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 9,148 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 11,024 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8,372 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 17,174 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 440,501 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 495,841 | 475,675 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 90 percent but less than or equal to 100 percent [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 3,514 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7,107 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,068 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,956 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 14,838 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 439,463 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 476,946 | 460,879 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 90 percent but less than or equal to 100 percent [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 6,108 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,041 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,956 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,416 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,336 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,038 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 18,895 | 14,796 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 100 percent [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 | 943 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,480 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,116 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,416 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 88,054 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 105,009 | 99,999 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 100 percent [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 | 943 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,480 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,116 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,416 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 88,054 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 105,009 | 99,939 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Greater than 100 percent [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 | $ 60 |
LOANS HELD FOR INVESTMENT - C_7
LOANS HELD FOR INVESTMENT - Corporation's Residential Mortgage Loans By Origination Year Based on Original Credit Score (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | $ 11,847,275 | $ 9,002,205 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 9,834,201 | 7,128,277 |
Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 2,013,074 | 1,873,928 |
Residential Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 59,105 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 130,248 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 188,166 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 179,929 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 217,522 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,861,743 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,636,713 | 2,933,773 |
Residential Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 30,680 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 74,990 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 121,271 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 82,549 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 129,927 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,660,942 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,100,359 | 2,367,587 |
Residential Portfolio Segment [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 28,425 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 55,258 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 66,895 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 97,380 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 87,595 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 200,801 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 536,354 | 566,186 |
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 235 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,124 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,900 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,274 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,406 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 141,863 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 162,802 | 123,909 |
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 | 235 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,124 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,900 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,987 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,406 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 140,974 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 161,626 | 122,429 |
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 | 287 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 889 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,176 | 1,480 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 3,473,911 | 2,809,864 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 2,938,733 | 2,245,158 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 535,178 | 564,706 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Less than 620 [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 | 154 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,984 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 55 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 75 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 322,039 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 325,307 | 290,239 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Less than 620 [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 | 154 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 466 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 55 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 75 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 321,212 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 321,962 | 286,754 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Less than 620 [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 | 2,518 | |
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 | 827 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 3,345 | 3,485 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 4,662 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,180 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 11,695 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,222 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 20,023 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 511,739 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 573,521 | 467,930 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,873 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,093 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,052 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7,703 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,526 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 494,428 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 523,675 | 416,766 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,789 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,087 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,643 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,519 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,497 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 17,311 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 49,846 | 51,164 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 18,473 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 42,364 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 56,868 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 54,974 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 67,779 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 752,176 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 992,634 | 777,835 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 11,013 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 25,947 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 42,268 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 24,329 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 39,764 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 708,342 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 851,663 | 626,291 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 7,460 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 16,417 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 14,600 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 30,645 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 28,015 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 43,834 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 140,971 | 151,544 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 740 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 35,735 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 77,426 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 113,719 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 102,404 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 119,239 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,133,926 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,582,449 | 1,273,860 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 17,559 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 43,672 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 67,585 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 45,475 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 71,156 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 995,986 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,241,433 | 915,347 |
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | FICO Score Greater than or equal to 740 [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 18,176 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 33,754 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 46,134 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 56,929 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 48,083 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 137,940 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | $ 341,016 | $ 358,513 |
LOANS HELD FOR INVESTMENT - C_8
LOANS HELD FOR INVESTMENT - Corporation's Consumer Loans by Origination Year Based on Original Credit Scores (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | $ 11,847,275 | $ 9,002,205 |
Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 9,834,201 | 7,128,277 |
Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans held for investment | 2,013,074 | 1,873,928 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 500,977 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 814,565 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 482,152 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 221,540 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 126,702 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 83,909 | |
Financing Receivable, Revolving | 342,241 | |
Loans held for investment | 2,572,086 | 2,281,653 |
Consumer Portfolio Segment [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 500,464 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 813,184 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 471,899 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 215,088 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 123,094 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 78,685 | |
Financing Receivable, Revolving | 339,546 | |
Loans held for investment | 2,541,960 | 2,241,131 |
Consumer Portfolio Segment [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 513 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,381 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,253 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,452 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,608 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,224 | |
Financing Receivable, Revolving | 2,695 | |
Loans held for investment | 30,126 | 40,522 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 315,865 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 435,362 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 262,809 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 124,250 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 69,704 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 37,890 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,245,880 | 1,134,855 |
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 | 315,865 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 434,032 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 252,598 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 118,052 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 66,670 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 37,146 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 1,224,363 | 1,104,360 |
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 | 1,330 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,211 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,198 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,034 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 744 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 21,517 | 30,495 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Less than 620 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 31,391 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 50,438 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 26,659 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 12,542 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,892 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,906 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 135,828 | 130,397 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Less than 620 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 31,391 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 50,401 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 25,674 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,707 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,184 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,751 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 133,108 | 126,540 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Less than 620 [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 | 37 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 985 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 835 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 708 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 155 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 2,720 | 3,857 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 98,020 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 151,142 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 99,499 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 45,034 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 22,085 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 14,754 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 430,534 | 403,942 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 98,020 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 150,569 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 95,019 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 41,543 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 20,461 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 14,333 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 419,945 | 388,890 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [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 | 573 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,480 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,491 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,624 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 421 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 10,589 | 15,052 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 97,642 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 132,159 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 82,932 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 37,630 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 20,565 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9,739 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 380,667 | 342,324 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 97,642 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 131,719 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 79,695 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 36,045 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 19,964 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9,589 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 374,654 | 333,734 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [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 | 440 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,237 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,585 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 601 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 150 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 6,013 | 8,590 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Greater than or equal to 740 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 88,812 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 101,623 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 53,719 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 29,044 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 18,162 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7,491 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 298,851 | 258,192 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 88,812 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 101,343 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 52,210 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 28,757 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 18,061 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7,473 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 296,656 | 255,196 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | FICO Score Greater than or equal to 740 [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 | 280 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,509 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 287 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 101 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 18 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 2,195 | 2,996 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 96,032 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 156,141 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 118,766 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 44,990 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 28,880 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 13,572 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 458,381 | 414,532 |
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 | 96,032 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 156,141 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 118,766 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 44,990 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 28,880 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 13,572 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 458,381 | 414,532 |
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] | FICO Score Less than 620 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,254 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,685 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,471 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,964 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 574 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 370 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 15,318 | 15,852 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | FICO Score Less than 620 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,254 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,685 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,471 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,964 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 574 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 370 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 15,318 | 15,852 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | FICO Score Less than 620 [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] | FICO Score Greater than or equal to 620 and less than 680 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 21,109 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 37,767 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 29,544 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 13,099 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5,311 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,072 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 109,902 | 100,438 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 21,109 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 37,767 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 29,544 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 13,099 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5,311 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,072 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 109,902 | 100,438 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | FICO Score Greater than or equal to 620 and less than 680 [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] | FICO Score Greater than or equal to 680 and less than 740 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 38,443 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 61,025 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 49,789 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 19,918 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,924 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,531 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 186,630 | 170,034 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 38,443 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 61,025 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 49,789 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 19,918 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,924 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,531 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 186,630 | 170,034 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | FICO Score Greater than or equal to 680 and less than 740 [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] | FICO Score Greater than or equal to 740 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 34,226 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 51,664 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 34,962 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 10,009 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,071 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,599 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 146,531 | 128,208 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 34,226 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 51,664 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 34,962 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 10,009 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,071 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,599 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 146,531 | 128,208 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | FICO Score Greater than or equal to 740 [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] | Personal Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 57,730 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 163,985 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 82,713 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 42,821 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 23,797 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 16,647 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 387,693 | 274,875 |
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 | 57,718 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 163,934 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 82,713 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 42,751 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 23,797 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 16,647 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 387,560 | 274,093 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 12 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 51 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 70 | |
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 | 133 | 782 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Less than 620 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 6,726 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,976 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,325 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,506 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,138 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,241 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 16,912 | 8,790 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Less than 620 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 6,726 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,969 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,325 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,506 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,138 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,241 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 16,905 | 8,197 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Less than 620 [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 | 7 | |
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 | 7 | 593 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 6,837 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 26,279 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,797 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,296 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,614 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,252 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 51,075 | 52,712 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 6,829 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 26,279 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,797 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,296 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,614 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,252 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 51,067 | 52,712 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 8 | |
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 | 8 | 0 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 23,047 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 70,897 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 33,440 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,803 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,158 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,359 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 161,704 | 114,232 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 23,047 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 70,853 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 33,440 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,803 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,158 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,359 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 161,660 | 114,147 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [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 | 44 | |
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 | 44 | 85 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Greater than or equal to 740 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 19,866 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 60,901 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 34,180 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18,152 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,166 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,638 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 148,903 | 98,739 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 19,862 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 60,901 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 34,180 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18,082 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,166 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,638 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 148,829 | 98,668 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | FICO Score Greater than or equal to 740 [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 4 | |
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 | 70 | |
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 | 74 | 71 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Unscorable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,254 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,932 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,971 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,064 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 721 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,157 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 9,099 | 402 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Unscorable [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,254 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,932 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,971 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,064 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 721 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,157 | |
Financing Receivable, Revolving | 0 | |
Loans held for investment | 9,099 | 369 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | Unscorable [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 | 33 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [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 | 327,649 | |
Loans held for investment | 327,649 | 292,290 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [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 | 327,649 | |
Loans held for investment | 327,649 | 292,290 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [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 Receivable [Member] | FICO Score Less than 620 [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 | 13,350 | |
Loans held for investment | 13,350 | 11,247 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | FICO Score Less than 620 [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 | 13,350 | |
Loans held for investment | 13,350 | 11,247 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | FICO Score Less than 620 [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 Receivable [Member] | FICO Score Greater than or equal to 620 and less than 680 [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 | 61,980 | |
Loans held for investment | 61,980 | 57,643 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | FICO Score Greater than or equal to 620 and less than 680 [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 | 61,980 | |
Loans held for investment | 61,980 | 57,643 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | FICO Score Greater than or equal to 620 and less than 680 [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 Receivable [Member] | FICO Score Greater than or equal to 680 and less than 740 [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 | 142,009 | |
Loans held for investment | 142,009 | 126,977 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | FICO Score Greater than or equal to 680 and less than 740 [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 | 142,009 | |
Loans held for investment | 142,009 | 126,977 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | FICO Score Greater than or equal to 680 and less than 740 [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 Receivable [Member] | FICO Score Greater than or equal to 740 [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 | 107,539 | |
Loans held for investment | 107,539 | 96,423 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | FICO Score Greater than or equal to 740 [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 | 107,539 | |
Loans held for investment | 107,539 | 96,423 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | FICO Score Greater than or equal to 740 [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 Receivable [Member] | Unscorable [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 | 2,771 | |
Loans held for investment | 2,771 | 0 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Unscorable [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 | 2,771 | |
Loans held for investment | 2,771 | 0 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 31,350 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 59,077 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 17,864 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,479 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,321 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 15,800 | |
Financing Receivable, Revolving | 14,592 | |
Loans held for investment | 152,483 | 165,101 |
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 | 30,849 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 59,077 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 17,822 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,295 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,747 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 11,320 | |
Financing Receivable, Revolving | 11,897 | |
Loans held for investment | 144,007 | 155,856 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 501 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 42 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 184 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 574 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,480 | |
Financing Receivable, Revolving | 2,695 | |
Loans held for investment | 8,476 | 9,245 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Less than 620 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 5,384 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,803 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,162 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,943 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 755 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 426 | |
Financing Receivable, Revolving | 3,300 | |
Loans held for investment | 26,773 | 28,334 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Less than 620 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 5,252 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,803 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,162 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,943 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 755 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 426 | |
Financing Receivable, Revolving | 3,239 | |
Loans held for investment | 26,580 | 28,251 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Less than 620 [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 132 | |
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 | 61 | |
Loans held for investment | 193 | 83 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 13,946 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 27,697 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,034 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,302 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,795 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,960 | |
Financing Receivable, Revolving | 1,690 | |
Loans held for investment | 64,424 | 69,601 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 13,756 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 27,697 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,034 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,193 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,767 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,343 | |
Financing Receivable, Revolving | 1,598 | |
Loans held for investment | 63,388 | 68,727 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Greater than or equal to 620 and less than 680 [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 190 | |
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 | 109 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 28 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 617 | |
Financing Receivable, Revolving | 92 | |
Loans held for investment | 1,036 | 874 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 9,750 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 15,438 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,337 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,518 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,269 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,515 | |
Financing Receivable, Revolving | 3,261 | |
Loans held for investment | 41,088 | 44,473 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 9,571 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 15,438 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,295 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,468 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 944 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,326 | |
Financing Receivable, Revolving | 2,754 | |
Loans held for investment | 38,796 | 41,914 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Greater than or equal to 680 and less than 740 [Member] | Florida region [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 179 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 42 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 50 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 325 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,189 | |
Financing Receivable, Revolving | 507 | |
Loans held for investment | 2,292 | 2,559 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Greater than or equal to 740 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,270 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 4,139 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,331 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 716 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 502 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,114 | |
Financing Receivable, Revolving | 3,457 | |
Loans held for investment | 15,529 | 18,932 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Greater than or equal to 740 [Member] | Puerto Rico and Virgin Islands regions [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,270 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 4,139 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,331 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 691 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 281 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 440 | |
Financing Receivable, Revolving | 1,422 | |
Loans held for investment | 10,574 | 13,359 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | FICO Score Greater than or equal to 740 [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 | 25 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 221 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,674 | |
Financing Receivable, Revolving | 2,035 | |
Loans held for investment | 4,955 | 5,573 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Unscorable [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 | 1,785 | |
Financing Receivable, Revolving | 2,884 | |
Loans held for investment | 4,669 | 3,761 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Unscorable [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 | 1,785 | |
Financing Receivable, Revolving | 2,884 | |
Loans held for investment | 4,669 | 3,605 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Unscorable [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 | $ 156 |
LOANS HELD FOR INVESTMENT - Col
LOANS HELD FOR INVESTMENT - Collateral dependent loans individually evaluated for purposes of determining the ACL (Detail) - Collateral Pledged [Member] $ in Thousands | Sep. 30, 2020USD ($) |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | $ 165,757 |
Related Specific Allowance | 21,240 |
Amortized Cost no ACL | 73,499 |
Amortized Cost | 239,256 |
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 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 109,215 |
Related Specific Allowance | 11,262 |
Amortized Cost no ACL | 9,750 |
Amortized Cost | 118,965 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 31,151 |
Related Specific Allowance | 6,791 |
Amortized Cost no ACL | 16,847 |
Amortized Cost | 47,998 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 17,978 |
Related Specific Allowance | 2,572 |
Amortized Cost no ACL | 44,216 |
Amortized Cost | 62,194 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 6,036 |
Related Specific Allowance | 491 |
Amortized Cost no ACL | 2,686 |
Amortized Cost | 8,722 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 146 |
Related Specific Allowance | 5 |
Amortized Cost no ACL | 0 |
Amortized Cost | 146 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 1,231 |
Related Specific Allowance | 119 |
Amortized Cost no ACL | 0 |
Amortized Cost | 1,231 |
PR And VI [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 155,387 |
Related Specific Allowance | 19,563 |
Amortized Cost no ACL | 68,041 |
Amortized Cost | 223,428 |
PR And VI [Member] | 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 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
PR And VI [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 99,839 |
Related Specific Allowance | 9,935 |
Amortized Cost no ACL | 9,750 |
Amortized Cost | 109,589 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 30,405 |
Related Specific Allowance | 6,475 |
Amortized Cost no ACL | 16,600 |
Amortized Cost | 47,005 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 17,978 |
Related Specific Allowance | 2,572 |
Amortized Cost no ACL | 39,005 |
Amortized Cost | 56,983 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 6,036 |
Related Specific Allowance | 491 |
Amortized Cost no ACL | 2,686 |
Amortized Cost | 8,722 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 146 |
Related Specific Allowance | 5 |
Amortized Cost no ACL | 0 |
Amortized Cost | 146 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 983 |
Related Specific Allowance | 85 |
Amortized Cost no ACL | 0 |
Amortized Cost | 983 |
FL | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 10,370 |
Related Specific Allowance | 1,677 |
Amortized Cost no ACL | 5,458 |
Amortized Cost | 15,828 |
FL | 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 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
FL | Residential Portfolio Segment [Member] | Conventional Loan [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 9,376 |
Related Specific Allowance | 1,327 |
Amortized Cost no ACL | 0 |
Amortized Cost | 9,376 |
FL | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 746 |
Related Specific Allowance | 316 |
Amortized Cost no ACL | 247 |
Amortized Cost | 993 |
FL | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 5,211 |
Amortized Cost | 5,211 |
FL | Commercial Portfolio Segment [Member] | Construction Loans [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
FL | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
FL | Consumer Portfolio Segment [Member] | Finance Leases [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
FL | Consumer Portfolio Segment [Member] | Personal Loans [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
FL | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 0 |
Related Specific Allowance | 0 |
Amortized Cost no ACL | 0 |
Amortized Cost | 0 |
FL | Consumer Portfolio Segment [Member] | Other Loans [Member] | |
Loans and Leases Receivable Disclosure [Line Items] | |
Amortized Cost with ACL | 248 |
Related Specific Allowance | 34 |
Amortized Cost no ACL | 0 |
Amortized Cost | $ 248 |
LOANS HELD FOR INVESTMENT - Rec
LOANS HELD FOR INVESTMENT - Reconciliation of the Par Value of Loans Acquired in the Santander Acquisition with the Purchase Price (Detail) $ in Thousands | Sep. 01, 2020USD ($) |
Par value of acquired loans at acquisition | $ 786,049 |
Allowance for credit losses at acquisition | 28,744 |
Non-credit discount (premium) at acquisition | 4,263 |
Purchase price of loans at acquisition (initial fair value) | 753,042 |
Residential Portfolio Segment [Member] | |
Par value of acquired loans at acquisition | 338,159 |
Allowance for credit losses at acquisition | 12,739 |
Non-credit discount (premium) at acquisition | 2,859 |
Purchase price of loans at acquisition (initial fair value) | 322,561 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |
Par value of acquired loans at acquisition | 196,307 |
Allowance for credit losses at acquisition | 1,830 |
Non-credit discount (premium) at acquisition | (95) |
Purchase price of loans at acquisition (initial fair value) | 194,572 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |
Par value of acquired loans at acquisition | 193,456 |
Allowance for credit losses at acquisition | 9,723 |
Non-credit discount (premium) at acquisition | 2,783 |
Purchase price of loans at acquisition (initial fair value) | 180,950 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |
Par value of acquired loans at acquisition | 0 |
Allowance for credit losses at acquisition | 0 |
Non-credit discount (premium) at acquisition | 0 |
Purchase price of loans at acquisition (initial fair value) | 0 |
Consumer Portfolio Segment [Member] | |
Par value of acquired loans at acquisition | 58,127 |
Allowance for credit losses at acquisition | 4,452 |
Non-credit discount (premium) at acquisition | (1,284) |
Purchase price of loans at acquisition (initial fair value) | $ 54,959 |
LOANS HELD FOR INVESTMENT - Add
LOANS HELD FOR INVESTMENT - Additional Information (Detail) $ in Thousands | Jun. 30, 2020USD ($)numberofcontracts | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | $ 469,078 | $ 508,378 | ||||
Loans and Leases Receivable, Gross | $ 11,800,000 | |||||
Minimum Period To Be Considered For Loan To Have Defaulted | 90 days | |||||
TDR [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | $ 496,207 | $ 488,615 | $ 495,838 | 487,997 | $ 582,389 | $ 582,647 |
Outstanding unfunded commitments on TDR loans | $ 5,000 | |||||
Loan Restructuring Trial Modifications Period | 6 months | |||||
Payment Deferral [Member] | COVID-19 | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | $ 1,200,000 | |||||
Financing Receivable Deferral Payment Number Of Agreements | numberofcontracts | 25,173 | |||||
United States [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | 25,898 | 19,499 | ||||
Performing Financing Receivable [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 399,700 | 398,300 | ||||
Performing Financing Receivable [Member] | Ab Note Restructure Workout Strategy [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 41,600 | |||||
Performing Financing Receivable [Member] | United States [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | $ 9,500 | 9,900 | ||||
Collateral Pledged [Member] | Weighted Average [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
LTV Coverage % | 84.00% | |||||
Loans held for investment [Member] | Payment Deferral [Member] | COVID-19 | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Credit risk concentration | 10.00% | |||||
Loans held for investment [Member] | Puerto Rico [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Credit risk concentration | 79.00% | |||||
Loans held for investment [Member] | United States [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Credit risk concentration | 17.00% | |||||
Loans held for investment [Member] | USVI and BVI [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Credit risk concentration | 4.00% | |||||
Residential Portfolio Segment [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Residential mortgage loans in process of foreclosure | $ 177,800 | |||||
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. Judicial states ( i.e ., Puerto Rico, Florida and the USVI) require the foreclosure to be processed through the state’s court while foreclosure in non-judicial states ( i.e., the BVI) is processed without court intervention. Foreclosure timelines vary according to local jurisdiction law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediations, bankruptcy, court delays and title issues | |||||
Loans Foreclosure Delinquency Threshold | 120 days | |||||
Financing Receivable, Purchase | $ 800 | 13,400 | ||||
Residential Portfolio Segment [Member] | TDR [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans in trial | 2,500 | |||||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | COVID-19 | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | 511,900 | |||||
Financing Receivable Deferral Payment Number Of Agreements | numberofcontracts | 3,227 | |||||
Residential Portfolio Segment [Member] | Government [Member] | PRHFA [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | 100,800 | 106,900 | ||||
Residential Portfolio Segment [Member] | PCD loans [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Residential mortgage loans in process of foreclosure | 18,900 | |||||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | 204,487 | 247,117 | ||||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | TDR [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 312,238 | 316,649 | ||||
Residential Portfolio Segment [Member] | Conventional residential mortgage loans [Member] | United States [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | 14,762 | 15,484 | ||||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Residential mortgage loans in process of foreclosure | 60,400 | |||||
Financing Receivable, Sale | 156,800 | 173,400 | ||||
Financing Receivable, Past Due | 114,580 | 83,208 | ||||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | TDR [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 58,800 | 60,100 | ||||
Residential Portfolio Segment [Member] | FHA/VA government-guaranteed loans [Member] | United States [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | 250 | 129 | ||||
Residential Portfolio Segment [Member] | FNMA and FHLC loans [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Purchase | 42 | 64 | ||||
Residential Portfolio Segment [Member] | FNMA and FHLC loans [Member] | Performing Financing Receivable [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Sale | 162,600 | 93,800 | ||||
Residential Portfolio Segment [Member] | GNMA [Member] | Repurchase Option Program [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Purchase | 55,000 | 22,500 | ||||
Financing Receivable, Past Due | 17,700 | 35,600 | ||||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | COVID-19 | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | 540,800,000 | |||||
Financing Receivable Deferral Payment Number Of Agreements | numberofcontracts | 196 | |||||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | 203,300 | 57,700 | ||||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | Municipalities [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | 107,700 | |||||
Commercial Portfolio Segment [Member] | Puerto Rico [Member] | Government [Member] | PREPA [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | 13,800 | |||||
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | 64,000 | 64,100 | ||||
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member] | Public Corporations [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | 40,800 | |||||
Commercial Portfolio Segment [Member] | USVI [Member] | Government [Member] | Independent Instrumentality [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | 23,200 | |||||
Commercial Portfolio Segment [Member] | Nonperforming Financing Receivable [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans held for sale sold | 4,800 | |||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | 19,799 | 9,887 | ||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | TDR [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 3,494 | 4,321 | ||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | United States [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | 4,320 | 0 | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | 41,927 | 45,849 | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | TDR [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 67,600 | 74,979 | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | United States [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | 1,549 | 870 | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | 36,364 | 27,724 | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | TDR [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 83,517 | 66,849 | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | United States [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Past Due | 3,172 | $ 646 | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Performing Financing Receivable [Member] | Puerto Rico [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Sale | $ 48,200 | |||||
Consumer Portfolio Segment [Member] | TDR [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 21,800 | |||||
Consumer Portfolio Segment [Member] | Payment Deferral [Member] | COVID-19 | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans and Leases Receivable, Gross | $ 168,700 | |||||
Financing Receivable Deferral Payment Number Of Agreements | numberofcontracts | 21,750 |
LOANS HELD FOR INVESTMENT - Sel
LOANS HELD FOR INVESTMENT - Selected Information on TDRs Includes Recorded Investment by Loan Class and Modification Type (Detail) - Entity Loan Modification Program [Member] - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | $ 488,615 | $ 496,207 | $ 487,997 | $ 495,838 | $ 582,389 | $ 582,647 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 312,238 | 316,649 | ||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 3,494 | 4,321 | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 83,517 | 66,849 | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 67,600 | 74,979 | ||||
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 21,800 | |||||
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 12,344 | 14,540 | ||||
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,348 | 1,532 | ||||
Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 960 | 1,073 | ||||
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 4,548 | 5,263 | ||||
Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 2,566 | 2,791 | ||||
Interest rate below market [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 25,570 | 26,068 | ||||
Interest rate below market [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 18,832 | 19,570 | ||||
Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 22 | 24 | ||||
Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 543 | 579 | ||||
Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 4,362 | 3,810 | ||||
Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 22 | 26 | ||||
Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,789 | 2,059 | ||||
Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Extended Maturity [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 29,847 | 34,682 | ||||
Extended Maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 11,693 | 11,600 | ||||
Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,759 | 2,469 | ||||
Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 12,440 | 16,160 | ||||
Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 2,231 | 2,276 | ||||
Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 611 | 898 | ||||
Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 22 | 40 | ||||
Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 17 | 43 | ||||
Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,074 | 1,196 | ||||
Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Combination of reduction in interest rate and extension of maturity [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 280,263 | 289,303 | ||||
Combination of reduction in interest rate and extension of maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 215,286 | 221,667 | ||||
Combination of reduction in interest rate and extension of maturity [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,523 | 1,639 | ||||
Combination of reduction in interest rate and extension of maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 15,708 | 12,077 | ||||
Combination of reduction in interest rate and extension of maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 37,594 | 40,896 | ||||
Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 5,521 | 7,393 | ||||
Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 715 | 1,066 | ||||
Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 627 | 845 | ||||
Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 741 | 953 | ||||
Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 2,548 | 2,767 | ||||
Forgiveness of principal and/or interest [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 214 | 346 | ||||
Forgiveness of principal and/or interest [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 142 | ||||
Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 196 | 180 | ||||
Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 18 | 24 | ||||
Forbearance Agreement [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 34,902 | 20,682 | ||||
Forbearance Agreement [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 222 | 142 | ||||
Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 18,134 | 692 | ||||
Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 16,546 | 19,848 | ||||
Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Other Loan Modifications [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 117,819 | 116,916 | ||||
Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 66,205 | 63,670 | ||||
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 190 | 189 | ||||
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 36,692 | 37,199 | ||||
Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 6,867 | 8,149 | ||||
Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 6,212 | 6,249 | ||||
Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 611 | 426 | ||||
Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 294 | 159 | ||||
Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 748 | 875 | ||||
Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 478,782 | 477,776 | ||||
PR And VI [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 308,855 | 313,147 | ||||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 3,494 | 4,321 | ||||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 83,270 | 66,534 | ||||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 62,096 | 69,451 | ||||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 12,265 | 14,424 | ||||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,348 | 1,532 | ||||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 960 | 1,073 | ||||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 3,928 | 4,503 | ||||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 2,566 | 2,791 | ||||
PR And VI [Member] | Interest rate below market [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 21,669 | 22,119 | ||||
PR And VI [Member] | Interest rate below market [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 17,837 | 18,561 | ||||
PR And VI [Member] | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 22 | 24 | ||||
PR And VI [Member] | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 543 | 579 | ||||
PR And VI [Member] | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,494 | 909 | ||||
PR And VI [Member] | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 22 | 26 | ||||
PR And VI [Member] | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,751 | 2,020 | ||||
PR And VI [Member] | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Extended Maturity [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 28,541 | 33,311 | ||||
PR And VI [Member] | Extended Maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 11,288 | 11,188 | ||||
PR And VI [Member] | Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,759 | 2,469 | ||||
PR And VI [Member] | Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 12,440 | 16,160 | ||||
PR And VI [Member] | Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,391 | 1,414 | ||||
PR And VI [Member] | Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 550 | 801 | ||||
PR And VI [Member] | Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 22 | 40 | ||||
PR And VI [Member] | Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 17 | 43 | ||||
PR And VI [Member] | Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,074 | 1,196 | ||||
PR And VI [Member] | Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Combination of reduction in interest rate and extension of maturity [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 276,315 | 285,287 | ||||
PR And VI [Member] | Combination of reduction in interest rate and extension of maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 213,327 | 219,618 | ||||
PR And VI [Member] | Combination of reduction in interest rate and extension of maturity [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,523 | 1,639 | ||||
PR And VI [Member] | Combination of reduction in interest rate and extension of maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 15,708 | 12,077 | ||||
PR And VI [Member] | Combination of reduction in interest rate and extension of maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 35,798 | 39,131 | ||||
PR And VI [Member] | Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 5,503 | 7,374 | ||||
PR And VI [Member] | Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 715 | 1,066 | ||||
PR And VI [Member] | Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 627 | 845 | ||||
PR And VI [Member] | Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 566 | 770 | ||||
PR And VI [Member] | Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 2,548 | 2,767 | ||||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 214 | 346 | ||||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 142 | ||||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 196 | 180 | ||||
PR And VI [Member] | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 18 | 24 | ||||
PR And VI [Member] | Forbearance Agreement [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 34,902 | 20,682 | ||||
PR And VI [Member] | Forbearance Agreement [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 222 | 142 | ||||
PR And VI [Member] | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 18,134 | 692 | ||||
PR And VI [Member] | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 16,546 | 19,848 | ||||
PR And VI [Member] | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
PR And VI [Member] | Other Loan Modifications [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 117,141 | 116,031 | ||||
PR And VI [Member] | Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 66,181 | 63,638 | ||||
PR And VI [Member] | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 190 | 189 | ||||
PR And VI [Member] | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 36,445 | 36,884 | ||||
PR And VI [Member] | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 6,867 | 8,149 | ||||
PR And VI [Member] | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 6,212 | 6,249 | ||||
PR And VI [Member] | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 611 | 426 | ||||
PR And VI [Member] | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 294 | 159 | ||||
PR And VI [Member] | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 341 | 337 | ||||
PR And VI [Member] | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 9,833 | 10,221 | ||||
FL | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 3,383 | 3,502 | ||||
FL | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 247 | 315 | ||||
FL | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 5,504 | 5,528 | ||||
FL | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 79 | 116 | ||||
FL | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 620 | 760 | ||||
FL | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Interest rate below market [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 3,901 | 3,949 | ||||
FL | Interest rate below market [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 995 | 1,009 | ||||
FL | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Interest rate below market [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 2,868 | 2,901 | ||||
FL | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 38 | 39 | ||||
FL | Interest rate below market [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Extended Maturity [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,306 | 1,371 | ||||
FL | Extended Maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 405 | 412 | ||||
FL | Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 840 | 862 | ||||
FL | Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 61 | 97 | ||||
FL | Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Extended Maturity [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Combination of reduction in interest rate and extension of maturity [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 3,948 | 4,016 | ||||
FL | Combination of reduction in interest rate and extension of maturity [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,959 | 2,049 | ||||
FL | Combination of reduction in interest rate and extension of maturity [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Combination of reduction in interest rate and extension of maturity [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Combination of reduction in interest rate and extension of maturity [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,796 | 1,765 | ||||
FL | Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 18 | 19 | ||||
FL | Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 175 | 183 | ||||
FL | Combination of reduction in interest rate and extension of maturity [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forgiveness of principal and/or interest [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forgiveness of principal and/or interest [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forgiveness of principal and/or interest [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forgiveness of principal and/or interest [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forbearance Agreement [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forbearance Agreement [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forbearance Agreement [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Forbearance Agreement [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Other Loan Modifications [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 678 | 885 | ||||
FL | Other Loan Modifications [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 24 | 32 | ||||
FL | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 247 | 315 | ||||
FL | Other Loan Modifications [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
FL | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 407 | 538 | ||||
FL | Other Loan Modifications [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT - C_9
LOANS HELD FOR INVESTMENT - Corporation's TDR Activity (Detail) - TDR [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Financing Receivable Modifications [Line Items] | ||||
Beginning Balance of TDRs | $ 496,207 | $ 582,389 | $ 487,997 | $ 582,647 |
New TDRs | 3,187 | 22,111 | 31,733 | 54,531 |
Increases to existing TDRs | 2,210 | 125 | 5,821 | 1,647 |
Charge-offs post modification | (4,548) | (2,505) | (8,063) | (7,418) |
Foreclosures | (309) | (2,716) | (1,947) | (9,637) |
Paid-off and partial payments | (8,132) | (103,566) | (26,926) | (125,932) |
Ending balance of TDRs | $ 488,615 | $ 495,838 | $ 488,615 | $ 495,838 |
LOANS HELD FOR INVESTMENT - _10
LOANS HELD FOR INVESTMENT - Corporation's TDR Activity (Parenthetical) (Detail) - TDR [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Financing Receivable Modifications [Line Items] | ||||
Payoff | $ 8,132 | $ 103,566 | $ 26,926 | $ 125,932 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Payoff | $ 92,400 | $ 92,400 |
LOANS HELD FOR INVESTMENT - Bre
LOANS HELD FOR INVESTMENT - Breakdown Between Accrual and Nonaccrual Status of TDRs (Detail) - TDR [Member] - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | $ 399,672 | $ 398,257 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 88,943 | 89,740 | ||||
Financing Receivable, Troubled Debt Restructuring | 488,615 | $ 496,207 | 487,997 | $ 495,838 | $ 582,389 | $ 582,647 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 257,582 | 265,746 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 54,656 | 50,903 | ||||
Financing Receivable, Troubled Debt Restructuring | 312,238 | 316,649 | ||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 2,542 | 3,238 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 952 | 1,083 | ||||
Financing Receivable, Troubled Debt Restructuring | 3,494 | 4,321 | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 49,150 | 51,062 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 18,450 | 23,917 | ||||
Financing Receivable, Troubled Debt Restructuring | 67,600 | 74,979 | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 74,390 | 59,689 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 9,127 | 7,160 | ||||
Financing Receivable, Troubled Debt Restructuring | 83,517 | 66,849 | ||||
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable, Troubled Debt Restructuring | 21,800 | |||||
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 7,062 | 8,556 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 5,282 | 5,984 | ||||
Financing Receivable, Troubled Debt Restructuring | 12,344 | 14,540 | ||||
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 1,340 | 1,502 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 8 | 30 | ||||
Financing Receivable, Troubled Debt Restructuring | 1,348 | 1,532 | ||||
Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 960 | 1,052 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 21 | ||||
Financing Receivable, Troubled Debt Restructuring | 960 | 1,073 | ||||
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 4,080 | 4,621 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 468 | 642 | ||||
Financing Receivable, Troubled Debt Restructuring | 4,548 | 5,263 | ||||
Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 2,566 | 2,791 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring | 2,566 | 2,791 | ||||
PR And VI [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 390,123 | 388,388 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 88,659 | 89,388 | ||||
Financing Receivable, Troubled Debt Restructuring | 478,782 | 477,776 | ||||
PR And VI [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 254,199 | 262,244 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 54,656 | 50,903 | ||||
Financing Receivable, Troubled Debt Restructuring | 308,855 | 313,147 | ||||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 2,542 | 3,238 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 952 | 1,083 | ||||
Financing Receivable, Troubled Debt Restructuring | 3,494 | 4,321 | ||||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 43,646 | 45,534 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 18,450 | 23,917 | ||||
Financing Receivable, Troubled Debt Restructuring | 62,096 | 69,451 | ||||
PR And VI [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 74,390 | 59,689 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 8,880 | 6,845 | ||||
Financing Receivable, Troubled Debt Restructuring | 83,270 | 66,534 | ||||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 6,983 | 8,440 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 5,282 | 5,984 | ||||
Financing Receivable, Troubled Debt Restructuring | 12,265 | 14,424 | ||||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 1,340 | 1,502 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 8 | 30 | ||||
Financing Receivable, Troubled Debt Restructuring | 1,348 | 1,532 | ||||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 960 | 1,052 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 21 | ||||
Financing Receivable, Troubled Debt Restructuring | 960 | 1,073 | ||||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 3,497 | 3,898 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 431 | 605 | ||||
Financing Receivable, Troubled Debt Restructuring | 3,928 | 4,503 | ||||
PR And VI [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 2,566 | 2,791 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring | 2,566 | 2,791 | ||||
FL | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 9,549 | 9,869 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 284 | 352 | ||||
Financing Receivable, Troubled Debt Restructuring | 9,833 | 10,221 | ||||
FL | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 3,383 | 3,502 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring | 3,383 | 3,502 | ||||
FL | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 0 | 0 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring | 0 | 0 | ||||
FL | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 5,504 | 5,528 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring | 5,504 | 5,528 | ||||
FL | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 0 | 0 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 247 | 315 | ||||
Financing Receivable, Troubled Debt Restructuring | 247 | 315 | ||||
FL | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 79 | 116 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring | 79 | 116 | ||||
FL | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 0 | 0 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring | 0 | 0 | ||||
FL | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 0 | 0 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring | 0 | 0 | ||||
FL | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 583 | 723 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 37 | 37 | ||||
Financing Receivable, Troubled Debt Restructuring | 620 | 760 | ||||
FL | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Financing Receivable Modifications Recorded Investment Accrual Status | 0 | 0 | ||||
Financing Receivable Modifications Recorded Investment Nonaccrual | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT - B_2
LOANS HELD FOR INVESTMENT - Breakdown Between Accrual and Nonaccrual Status of TDRs (Parenthetical) (Detail) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
TDR [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Financing receivable modifications recorded investment of loan forced to nonaccrual status | $ 9.1 | $ 14.8 |
LOANS HELD FOR INVESTMENT - L_3
LOANS HELD FOR INVESTMENT - Loan Modifications are Considered TDRs (Detail) - TDR [Member] $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020USD ($)numberofcontracts | Sep. 30, 2019USD ($)numberofcontracts | Sep. 30, 2020USD ($)numberofcontracts | Sep. 30, 2019USD ($)numberofcontracts | |
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 169 | 372 | 548 | 935 |
Pre-Modification Outstanding Recorded Investment | $ 3,401 | $ 22,268 | $ 32,517 | $ 57,070 |
Post-Modification Outstanding Recorded Investment | $ 3,187 | $ 22,111 | $ 31,733 | $ 54,531 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 20 | 21 | 72 | 87 |
Pre-Modification Outstanding Recorded Investment | $ 2,070 | $ 2,233 | $ 6,427 | $ 9,585 |
Post-Modification Outstanding Recorded Investment | $ 1,938 | $ 2,115 | $ 5,722 | $ 9,280 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 0 | 0 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 118 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 117 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 1 | 6 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 236 | $ 22,064 | $ 439 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 236 | $ 22,064 | $ 438 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 5 | 2 | 11 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 17,344 | $ 75 | $ 40,374 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 17,282 | $ 81 | $ 38,136 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 37 | 70 | 133 | 208 |
Pre-Modification Outstanding Recorded Investment | $ 658 | $ 1,205 | $ 2,102 | $ 3,327 |
Post-Modification Outstanding Recorded Investment | $ 655 | $ 1,206 | $ 2,091 | $ 3,294 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 4 | 12 | 29 | 33 |
Pre-Modification Outstanding Recorded Investment | $ 54 | $ 202 | $ 408 | $ 646 |
Post-Modification Outstanding Recorded Investment | $ 54 | $ 202 | $ 408 | $ 643 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 7 | 13 | 23 | 45 |
Pre-Modification Outstanding Recorded Investment | $ 60 | $ 101 | $ 202 | $ 413 |
Post-Modification Outstanding Recorded Investment | $ 60 | $ 102 | $ 200 | $ 411 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 55 | 213 | 140 | 436 |
Pre-Modification Outstanding Recorded Investment | $ 335 | $ 740 | $ 530 | $ 1,600 |
Post-Modification Outstanding Recorded Investment | $ 256 | $ 761 | $ 458 | $ 1,644 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 46 | 37 | 143 | 104 |
Pre-Modification Outstanding Recorded Investment | $ 224 | $ 207 | $ 709 | $ 568 |
Post-Modification Outstanding Recorded Investment | $ 224 | $ 207 | $ 709 | $ 568 |
PR And VI [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 168 | 372 | 547 | 932 |
Pre-Modification Outstanding Recorded Investment | $ 3,378 | $ 22,268 | $ 32,494 | $ 57,037 |
Post-Modification Outstanding Recorded Investment | $ 3,164 | $ 22,111 | $ 31,710 | $ 54,498 |
PR And VI [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 20 | 21 | 72 | 87 |
Pre-Modification Outstanding Recorded Investment | $ 2,070 | $ 2,233 | $ 6,427 | $ 9,585 |
Post-Modification Outstanding Recorded Investment | $ 1,938 | $ 2,115 | $ 5,722 | $ 9,280 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 0 | 0 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 118 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 117 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 1 | 6 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 236 | $ 22,064 | $ 439 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 236 | $ 22,064 | $ 438 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 5 | 2 | 11 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 17,344 | $ 75 | $ 40,374 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 17,282 | $ 81 | $ 38,136 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 37 | 70 | 133 | 205 |
Pre-Modification Outstanding Recorded Investment | $ 658 | $ 1,205 | $ 2,102 | $ 3,294 |
Post-Modification Outstanding Recorded Investment | $ 655 | $ 1,206 | $ 2,091 | $ 3,261 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 4 | 12 | 29 | 33 |
Pre-Modification Outstanding Recorded Investment | $ 54 | $ 202 | $ 408 | $ 646 |
Post-Modification Outstanding Recorded Investment | $ 54 | $ 202 | $ 408 | $ 643 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 7 | 13 | 23 | 45 |
Pre-Modification Outstanding Recorded Investment | $ 60 | $ 101 | $ 202 | $ 413 |
Post-Modification Outstanding Recorded Investment | $ 60 | $ 102 | $ 200 | $ 411 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 54 | 213 | 139 | 436 |
Pre-Modification Outstanding Recorded Investment | $ 312 | $ 740 | $ 507 | $ 1,600 |
Post-Modification Outstanding Recorded Investment | $ 233 | $ 761 | $ 435 | $ 1,644 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 46 | 37 | 143 | 104 |
Pre-Modification Outstanding Recorded Investment | $ 224 | $ 207 | $ 709 | $ 568 |
Post-Modification Outstanding Recorded Investment | $ 224 | $ 207 | $ 709 | $ 568 |
FL | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 1 | 0 | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 23 | $ 0 | $ 23 | $ 33 |
Post-Modification Outstanding Recorded Investment | $ 23 | $ 0 | $ 23 | $ 33 |
FL | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 0 | 0 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 33 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 33 |
FL | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 1 | 0 | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 23 | $ 0 | $ 23 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 23 | $ 0 | $ 23 | $ 0 |
FL | Consumer Portfolio Segment [Member] | Credit cards [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 |
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 | 9 Months Ended | ||
Sep. 30, 2020USD ($)numberofcontracts | Sep. 30, 2019USD ($)numberofcontracts | Sep. 30, 2020USD ($)numberofcontracts | Sep. 30, 2019USD ($)numberofcontracts | |
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 50 | 73 | 142 | 159 |
Recorded Investment | $ | $ 755 | $ 2,634 | $ 3,253 | $ 3,690 |
Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 2 | 5 | 8 | 8 |
Recorded Investment | $ | $ 253 | $ 1,706 | $ 2,142 | $ 1,890 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 1 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 35 | $ 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 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 19 | 50 | 40 | 99 |
Recorded Investment | $ | $ 358 | $ 856 | $ 681 | $ 1,624 |
Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 1 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 5 | $ 0 |
Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 1 | 1 |
Recorded Investment | $ | $ 0 | $ 0 | $ 7 | $ 9 |
Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 15 | 0 | 41 | 0 |
Recorded Investment | $ | $ 80 | $ 0 | $ 192 | $ 0 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 14 | 18 | 50 | 51 |
Recorded Investment | $ | $ 64 | $ 72 | $ 191 | $ 167 |
PR And VI [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 50 | 73 | 142 | 159 |
Recorded Investment | $ | $ 755 | $ 2,634 | $ 3,253 | $ 3,690 |
PR And VI [Member] | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 2 | 5 | 8 | 8 |
Recorded Investment | $ | $ 253 | $ 1,706 | $ 2,142 | $ 1,890 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 1 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 35 | $ 0 |
PR And VI [Member] | 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 |
PR And VI [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 19 | 50 | 40 | 99 |
Recorded Investment | $ | $ 358 | $ 856 | $ 681 | $ 1,624 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 1 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 5 | $ 0 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 1 | 1 |
Recorded Investment | $ | $ 0 | $ 0 | $ 7 | $ 9 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 15 | 0 | 41 | 0 |
Recorded Investment | $ | $ 80 | $ 0 | $ 192 | $ 0 |
PR And VI [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 14 | 18 | 50 | 51 |
Recorded Investment | $ | $ 64 | $ 72 | $ 191 | $ 167 |
FL | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Residential Portfolio Segment [Member] | Conventional Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
FL | 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 |
FL | 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 |
FL | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Consumer Portfolio Segment [Member] | Auto loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Consumer Portfolio Segment [Member] | Finance Leases [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Consumer Portfolio Segment [Member] | Personal Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Consumer Portfolio Segment [Member] | Credit cards [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
FL | Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | numberofcontracts | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT - L_5
LOANS HELD FOR INVESTMENT - Loan Restructuring and Effect on Allowance for Loan and Lease Losses (Detail) - USD ($) $ in Thousands | Jan. 01, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Beginning balance | $ 155,139 | $ 319,297 | $ 172,011 | $ 155,139 | $ 196,362 | |
Impact of adopting ASC 326 | 229,600 | |||||
Charges to the provision for loan losses | 48,078 | $ 36,400 | 7,398 | 158,531 | 31,752 | |
Ending balance | 384,718 | 319,297 | 165,575 | 384,718 | 165,575 | |
Accounting Standards Update 2016-13 [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Ending balance | 236,304 | |||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Impact of adopting ASC 326 | (434) | |||||
Ending balance | 81,165 | |||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Beginning balance | 2,370 | 7,800 | 3,026 | 2,370 | 3,592 | |
Charges to the provision for loan losses | 2,405 | (178) | 7,068 | (815) | ||
Ending balance | 10,241 | 7,800 | 3,059 | 10,241 | 3,059 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Ending balance | 3,167 | |||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Ending balance | 797 | |||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Beginning balance | 39,194 | 49,435 | 46,373 | 39,194 | 55,581 | |
Charges to the provision for loan losses | 19,672 | (808) | 49,278 | 3,854 | ||
Ending balance | 75,726 | 49,435 | 44,848 | 75,726 | 44,848 | |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Ending balance | 19,888 | |||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Ending balance | (19,306) | |||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Beginning balance | 15,198 | 38,310 | 21,644 | 15,198 | 32,546 | |
Charges to the provision for loan losses | 2,839 | (5,465) | 11,225 | (11,068) | ||
Ending balance | 42,909 | 38,310 | 17,618 | 42,909 | 17,618 | |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Ending balance | 29,929 | |||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Ending balance | 14,731 | |||||
Entity Loan Modification Program [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring [Abstract] | ||||||
Beginning Balance of TDRs | 487,997 | 496,207 | 582,389 | 487,997 | 582,647 | |
New TDRs loans splits | 3,187 | 22,111 | 31,733 | 54,531 | ||
Increases to existing TDRs | 2,210 | 125 | 5,821 | 1,647 | ||
Charge offs | 4,548 | 2,505 | 8,063 | 7,418 | ||
Paid-off and partial payments | (8,132) | (103,566) | (26,926) | (125,932) | ||
Ending balance of TDRs | 488,615 | 496,207 | 495,838 | 488,615 | 495,838 | |
Entity Loan Modification Program [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring [Abstract] | ||||||
Beginning Balance of TDRs | 4,321 | 4,321 | ||||
Ending balance of TDRs | 3,494 | 3,494 | ||||
Entity Loan Modification Program [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring [Abstract] | ||||||
Beginning Balance of TDRs | 74,979 | 74,979 | ||||
Paid-off and partial payments | (92,400) | (92,400) | ||||
Ending balance of TDRs | 67,600 | 67,600 | ||||
Entity Loan Modification Program [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring [Abstract] | ||||||
Beginning Balance of TDRs | 66,849 | 66,849 | ||||
Ending balance of TDRs | 83,517 | 83,517 | ||||
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring [Abstract] | ||||||
Beginning Balance of TDRs | 51,228 | 51,258 | 53,216 | 51,228 | 33,840 | |
New TDRs loans splits | 0 | 20,059 | ||||
Increases to existing TDRs | 367 | 0 | 772 | 0 | ||
Charge offs | 3,087 | 0 | 3,087 | 0 | ||
Paid-off and partial payments | (385) | (632) | (760) | (1,315) | ||
Ending balance of TDRs | 48,153 | 51,258 | 52,584 | 48,153 | 52,584 | |
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Beginning balance | 3,530 | 4,084 | 1,579 | 3,530 | 473 | |
Charges to the provision for loan losses | (599) | 2,198 | 281 | 3,304 | ||
Amount charged-off | 3,087 | 0 | 3,087 | 0 | ||
Ending balance | 398 | 4,084 | 3,777 | 398 | 3,777 | |
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Impact of adopting ASC 326 | (326) | 0 | ||||
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial And Industrial Sector [Member] | Construction Loans [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Amount charged-off | 0 | 0 | ||||
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring [Abstract] | ||||||
Beginning Balance of TDRs | 1,883 | 1,892 | 2,289 | 1,883 | 2,431 | |
New TDRs loans splits | 0 | 0 | ||||
Increases to existing TDRs | 0 | 0 | 34 | 0 | ||
Charge offs | 3,087 | 0 | 0 | 0 | ||
Paid-off and partial payments | (288) | (345) | (313) | (487) | ||
Ending balance of TDRs | 1,604 | 1,892 | 1,944 | 1,604 | 1,944 | |
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Beginning balance | 0 | 0 | 0 | 0 | 0 | |
Charges to the provision for loan losses | 0 | 0 | 0 | 0 | ||
Amount charged-off | 0 | 0 | ||||
Ending balance | 0 | 0 | 0 | 0 | 0 | |
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Impact of adopting ASC 326 | 0 | 0 | ||||
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring [Abstract] | ||||||
Beginning Balance of TDRs | 22,749 | 22,599 | 22,940 | 22,749 | 3,003 | |
New TDRs loans splits | 0 | 20,059 | ||||
Increases to existing TDRs | 0 | 0 | 0 | 0 | ||
Charge offs | 3,087 | 0 | 3,087 | 0 | ||
Paid-off and partial payments | (97) | (95) | (247) | (217) | ||
Ending balance of TDRs | 19,415 | 22,599 | 22,845 | 19,415 | 22,845 | |
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Beginning balance | 3,516 | 3,646 | 1,261 | 3,516 | 0 | |
Charges to the provision for loan losses | (559) | 2,254 | (14) | 3,515 | ||
Amount charged-off | 3,087 | 0 | 3,087 | 0 | ||
Ending balance | 0 | 3,646 | 3,515 | 0 | 3,515 | |
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Impact of adopting ASC 326 | (415) | 0 | ||||
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring [Abstract] | ||||||
Beginning Balance of TDRs | 26,596 | 26,767 | 27,987 | 26,596 | 28,406 | |
New TDRs loans splits | 0 | 0 | ||||
Increases to existing TDRs | 367 | 0 | 738 | 0 | ||
Charge offs | 0 | 0 | 0 | 0 | ||
Paid-off and partial payments | 0 | (192) | (200) | (611) | ||
Ending balance of TDRs | 27,134 | 26,767 | 27,795 | 27,134 | 27,795 | |
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Beginning balance | $ 14 | 438 | 318 | 14 | 473 | |
Charges to the provision for loan losses | (40) | (56) | 295 | (211) | ||
Amount charged-off | 0 | 0 | 0 | 0 | ||
Ending balance | $ 398 | $ 438 | $ 262 | 398 | 262 | |
Entity Loan Modification Program [Member] | Ab Note Restructure Workout Strategy [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | ||||||
Loans And Leases Receivable Disclosure [Abstract] | ||||||
Impact of adopting ASC 326 | $ 89 | $ 0 |
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 | Sep. 01, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Jan. 01, 2020 |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Beginning balance | $ 319,297 | $ 172,011 | $ 155,139 | $ 196,362 | |||
Allowance established for acquired PCD loans | $ 28,744 | ||||||
Provision (release) for credit losses | 48,078 | $ 36,400 | 7,398 | 158,531 | 31,752 | ||
Charge-offs | (14,355) | (19,264) | (46,599) | (75,537) | |||
Recoveries | 2,954 | 5,430 | 7,738 | 12,998 | |||
Ending balance | 384,718 | 319,297 | 165,575 | 384,718 | 165,575 | ||
ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Impact of adopting ASC 326 on Loans and Finance leases | $ 81,165 | ||||||
Residential Portfolio Segment [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Beginning balance | 111,450 | 48,284 | 44,806 | 50,794 | |||
Allowance established for acquired PCD loans | 12,739 | ||||||
Provision (release) for credit losses | 9,875 | 2,162 | 32,255 | 9,387 | |||
Charge-offs | (2,611) | (5,288) | (8,968) | (16,229) | |||
Recoveries | 328 | 874 | 1,112 | 2,080 | |||
Ending balance | 131,781 | 111,450 | 46,032 | 131,781 | 46,032 | ||
Residential Portfolio Segment [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Impact of adopting ASC 326 on Loans and Finance leases | 49,837 | ||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Beginning balance | 38,310 | 21,644 | 15,198 | 32,546 | |||
Allowance established for acquired PCD loans | 1,830 | ||||||
Provision (release) for credit losses | 2,839 | (5,465) | 11,225 | (11,068) | |||
Charge-offs | (150) | (387) | (323) | (7,056) | |||
Recoveries | 80 | 1,826 | 248 | 3,196 | |||
Ending balance | 42,909 | 38,310 | 17,618 | 42,909 | 17,618 | ||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Impact of adopting ASC 326 on Loans and Finance leases | 14,731 | ||||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Beginning balance | 49,435 | 46,373 | 39,194 | 55,581 | |||
Allowance established for acquired PCD loans | 9,723 | ||||||
Provision (release) for credit losses | 19,672 | (808) | 49,278 | 3,854 | |||
Charge-offs | (3,157) | (813) | (3,303) | (14,901) | |||
Recoveries | 53 | 96 | 140 | 314 | |||
Ending balance | 75,726 | 49,435 | 44,848 | 75,726 | 44,848 | ||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Impact of adopting ASC 326 on Loans and Finance leases | (19,306) | ||||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Beginning balance | 7,800 | 3,026 | 2,370 | 3,592 | |||
Allowance established for acquired PCD loans | 0 | ||||||
Provision (release) for credit losses | 2,405 | (178) | 7,068 | (815) | |||
Charge-offs | (1) | (68) | (75) | (347) | |||
Recoveries | 37 | 279 | 81 | 629 | |||
Ending balance | 10,241 | 7,800 | 3,059 | 10,241 | 3,059 | ||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Impact of adopting ASC 326 on Loans and Finance leases | 797 | ||||||
Consumer Portfolio Segment [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Beginning balance | 112,302 | 52,684 | 53,571 | 53,849 | |||
Allowance established for acquired PCD loans | $ 4,452 | ||||||
Provision (release) for credit losses | 13,287 | 11,687 | 58,705 | 30,394 | |||
Charge-offs | (8,436) | (12,708) | (33,930) | (37,004) | |||
Recoveries | 2,456 | 2,355 | 6,157 | 6,779 | |||
Ending balance | $ 124,061 | $ 112,302 | $ 54,018 | $ 124,061 | $ 54,018 | ||
Consumer Portfolio Segment [Member] | ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | |||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||
Impact of adopting ASC 326 on Loans and Finance leases | $ 35,106 |
ALLOWANCE FOR CREDIT LOSSES O_4
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LOSSES - Carrying Amount of Portfolios (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Financing Receivable, before Allowance for Credit Loss | $ 11,847,275 | $ 9,002,205 | ||||
Allowance for credit losses on loans and finance leases | $ 384,718 | $ 155,139 | $ 319,297 | $ 165,575 | $ 172,011 | $ 196,362 |
Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 3.25% | 1.72% | ||||
Residential Mortgage Loans [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Financing Receivable, before Allowance for Credit Loss | $ 3,636,713 | $ 2,933,773 | ||||
Allowance for credit losses on loans and finance leases | $ 131,781 | $ 44,806 | 111,450 | 46,032 | 48,284 | 50,794 |
Residential Mortgage Loans [Member] | Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 3.62% | 1.53% | ||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Financing Receivable, before Allowance for Credit Loss | $ 3,226,843 | $ 2,230,876 | ||||
Allowance for credit losses on loans and finance leases | $ 42,909 | $ 15,198 | 38,310 | 17,618 | 21,644 | 32,546 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 1.33% | 0.68% | ||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Financing Receivable, before Allowance for Credit Loss | $ 2,220,277 | $ 1,444,586 | ||||
Allowance for credit losses on loans and finance leases | $ 75,726 | $ 39,194 | 49,435 | 44,848 | 46,373 | 55,581 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 3.41% | 2.71% | ||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Financing Receivable, before Allowance for Credit Loss | $ 191,356 | $ 111,317 | ||||
Allowance for credit losses on loans and finance leases | $ 10,241 | $ 2,370 | 7,800 | 3,059 | 3,026 | 3,592 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 5.35% | 2.13% | ||||
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Financing Receivable, before Allowance for Credit Loss | $ 2,572,086 | $ 2,281,653 | ||||
Allowance for credit losses on loans and finance leases | $ 124,061 | $ 53,571 | $ 112,302 | $ 54,018 | $ 52,684 | $ 53,849 |
Consumer Portfolio Segment [Member] | Allowance for credit losses, numerator [Member] | Amortized cost, denominator [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for credit losses to amortized cost | 4.82% | 2.35% |
ALLOWANCE FOR CREDIT LOSSES O_5
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LOSSES - Carrying Amount of Portfolios (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 11,847,275 | $ 9,002,205 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,226,843 | $ 2,230,876 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | COVID-19 | Small Business Administration | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 453,400 |
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 | 9 Months Ended | ||||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Apr. 01, 2020 | Jan. 01, 2020 | Apr. 01, 2019 | Jan. 01, 2019 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Beginning Balance | $ 7,084 | $ 0 | $ 0 | $ 412 | ||||
Provision (release) for credit losses | (803) | 0 | 2,359 | (412) | ||||
Ending Balance | $ 6,281 | $ 0 | $ 6,281 | $ 0 | ||||
ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Impact of adopting ASC 326 on unfunded loan commitments and standby letters of credit | $ 0 | $ 3,922 | $ 0 | $ 0 |
ALLOWANCE FOR CREDIT LOSSES O_7
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LOSSES - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Jan. 01, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for credit losses on loans and finance leases | $ 384,718 | $ 319,297 | $ 165,575 | $ 384,718 | $ 165,575 | $ 155,139 | $ 172,011 | $ 196,362 | ||
Increase (decrease) in ACL | 229,600 | |||||||||
Allowance established for acquired PCD loans | $ 28,744 | |||||||||
Provision (release) for credit losses | 48,078 | 36,400 | 7,398 | 158,531 | 31,752 | |||||
Net charge-offs | 11,400 | 9,900 | 13,800 | |||||||
Charge-offs | 14,355 | 19,264 | 46,599 | 75,537 | ||||||
Recoveries | 2,954 | 5,430 | 7,738 | 12,998 | ||||||
ACL for unfunded loan commitments and standby letters of credit | 6,281 | 7,084 | 0 | 6,281 | 0 | 0 | 0 | 412 | ||
Provison (release) for credit losses on unfunded loan commitments and standby letters of credit | (803) | 0 | 2,359 | (412) | ||||||
Santander [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Provison (release) for credit losses on unfunded loan commitments and standby letters of credit | 1,300 | |||||||||
Non-PCD Loans [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Provision (release) for credit losses | 37,500 | |||||||||
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for credit losses on loans and finance leases | 42,909 | 38,310 | 17,618 | 42,909 | 17,618 | 15,198 | 21,644 | 32,546 | ||
Allowance established for acquired PCD loans | 1,830 | |||||||||
Provision (release) for credit losses | 2,839 | (5,465) | 11,225 | (11,068) | ||||||
Charge-offs | 150 | 387 | 323 | 7,056 | ||||||
Recoveries | 80 | 1,826 | 248 | 3,196 | ||||||
Commercial Portfolio Segment [Member] | V I | Commercial And Industrial Sector [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Recoveries | 1,700 | |||||||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for credit losses on loans and finance leases | 75,726 | $ 49,435 | 44,848 | 75,726 | 44,848 | $ 39,194 | $ 46,373 | $ 55,581 | ||
Allowance established for acquired PCD loans | $ 9,723 | |||||||||
Provision (release) for credit losses | 19,672 | (808) | 49,278 | 3,854 | ||||||
Charge-offs | 3,157 | 813 | 3,303 | 14,901 | ||||||
Recoveries | 53 | $ 96 | $ 140 | $ 314 | ||||||
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | Florida region [Member] | Nonperforming Financing Receivable [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Charge-offs | $ 3,100 | |||||||||
ASC 326 | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for credit losses on loans and finance leases | $ 236,304 | |||||||||
ACL for unfunded loan commitments and standby letters of credit | 3,922 | |||||||||
ASC 326 | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for credit losses on loans and finance leases | 29,929 | |||||||||
ASC 326 | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for credit losses on loans and finance leases | 19,888 | |||||||||
ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for credit losses on loans and finance leases | 81,165 | |||||||||
Increase (decrease) in ACL | (434) | |||||||||
ACL for unfunded loan commitments and standby letters of credit | 3,922 | |||||||||
ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for credit losses on loans and finance leases | 14,731 | |||||||||
ASC 326 | Cumulative Effect Period Of Adoption Adjustment [Member] | Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for credit losses on loans and finance leases | $ (19,306) |
LOANS HELD FOR SALE - Portfolio
LOANS HELD FOR SALE - Portfolio of Loans Held for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Accounts Notes And Loans Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | $ 48,670 | $ 39,477 |
Residential Portfolio Segment [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | 48,670 | 39,477 |
Commercial Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | 0 | 0 |
Construction Loans [Member] | Commercial Portfolio Segment [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Loans Receivable Held For Sale Net | $ 0 | $ 0 |
OTHER REAL ESTATE OWNED- Other
OTHER REAL ESTATE OWNED- Other real estate owned (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Real Estate Properties [Line Items] | ||
Other real estate owned | $ 89,049 | $ 101,626 |
Other Real Estate Owned [Member] | ||
Real Estate Properties [Line Items] | ||
Other real estate owned | 89,049 | 101,626 |
Other Real Estate Owned [Member] | Residential Portfolio Segment [Member] | ||
Real Estate Properties [Line Items] | ||
Other real estate owned | 37,075 | 46,912 |
Other Real Estate Owned [Member] | Commercial Portfolio Segment [Member] | Commercial And Industrial Sector [Member] | ||
Real Estate Properties [Line Items] | ||
Other real estate owned | 45,396 | 47,271 |
Other Real Estate Owned [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Real Estate Properties [Line Items] | ||
Other real estate owned | $ 6,578 | $ 7,443 |
OTHER REAL ESTATE OWNED- Additi
OTHER REAL ESTATE OWNED- Additional information (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Real Estate Properties [Line Items] | ||
Foreclosures that meet the conditions of ASC Topic 310-40 | $ 414,217 | $ 177,842 |
Other Real Estate Owned [Member] | ||
Real Estate Properties [Line Items] | ||
Foreclosures that meet the conditions of ASC Topic 310-40 | $ 18,900 | $ 16,700 |
LEASES - Supplemental Balance S
LEASES - Supplemental Balance Sheet Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Leases [Abstract] | ||
Operating lease right-of-use right | $ 107,629 | $ 61,327 |
Operating Lease, Liability | $ 110,888 | $ 64,259 |
Operating lease weighted average remaining lease term | 8 years 7 months 6 days | 10 years 9 months 18 days |
Operating lease weighted average discount rate | 2.24% | 3.29% |
LEASES - Supplemental Cash Flow
LEASES - Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Leases [Abstract] | ||
Operating cash flow from operating leases | $ 8,492 | $ 7,619 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 1,328 | $ 8,139 |
LEASES - Maturities Under Lease
LEASES - Maturities Under Lease Liability (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Leases [Abstract] | ||
2020 | $ 4,972 | |
2021 | 19,062 | |
2022 | 17,945 | |
2023 | 16,018 | |
2024 | 14,507 | |
2025 and after | 51,147 | |
Total lease payments | 123,651 | |
Less: imputed interest | (12,763) | |
Total present value of lease liability | $ 110,888 | $ 64,259 |
LEASES - Additional Information
LEASES - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 01, 2020 | Dec. 31, 2019 | |
Lessee, Lease, Description [Line Items] | ||||||
Finance lease | $ 0 | $ 0 | ||||
Operating lease cost | 3,500,000 | $ 2,800,000 | 8,700,000 | $ 8,000,000 | ||
Operating Lease, Liability | 110,888,000 | 110,888,000 | $ 64,259,000 | |||
Operating Lease, Right-of-Use Asset | $ 107,629,000 | $ 107,629,000 | $ 61,327,000 | |||
Santander [Member] | ||||||
Lessee, Lease, Description [Line Items] | ||||||
Operating Lease, Liability | $ 52,100,000 | |||||
Operating Lease, Right-of-Use Asset | $ 52,100,000 | |||||
Minimum [Member] | ||||||
Lessee, Lease, Description [Line Items] | ||||||
Lease terms | 2 years | 2 years | ||||
Maximum [Member] | ||||||
Lessee, Lease, Description [Line Items] | ||||||
Lease terms | 30 years | 30 years | ||||
Option to extend | 7 years | 7 years |
DERIVATIVE INSTRUMENTS AND HE_3
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Notional Amounts of All Derivative Instruments (Detail) - Not Designated as Hedging Instrument, Economic Hedge [Member] - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Economic undesignated hedges: | ||
Notional amount of derivatives | $ 130,490 | $ 94,894 |
Interest Rate Swap [Member] | ||
Economic undesignated hedges: | ||
Notional amount of derivatives | 16,680 | 0 |
Sale of TBA GNMA MBS pools [Member] | ||
Economic undesignated hedges: | ||
Notional amount of derivatives | 35,000 | 35,000 |
Forward loan sales commitments [Member] | ||
Economic undesignated hedges: | ||
Notional amount of derivatives | 25,097 | 6,418 |
Interest Rate Lock Commitments [Member] | ||
Economic undesignated hedges: | ||
Notional amount of derivatives | 24,713 | 11,456 |
Interest Rate Cap [Member] | Written | ||
Economic undesignated hedges: | ||
Notional amount of derivatives | 14,500 | 21,010 |
Interest Rate Cap [Member] | Purchase | ||
Economic undesignated hedges: | ||
Notional amount of derivatives | $ 14,500 | $ 21,010 |
DERIVATIVE INSTRUMENTS AND HE_4
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Summary of Fair Value of Derivative Instruments and Location in Statement of Financial Condition (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Derivatives Fair Value [Line Items] | ||
Other Assets | $ 414,217 | $ 177,842 |
Accrued Liabilities And Other Liabilities | 257,826 | 180,614 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivatives Fair Value [Line Items] | ||
Asset Derivative | 3,098 | 372 |
Liability Derivatives | 1,821 | 149 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Swap [Member] | ||
Derivatives Fair Value [Line Items] | ||
Other Assets | 1,762 | 0 |
Accrued Liabilities And Other Liabilities | 1,789 | 0 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Sale of TBA GNMA MBS pools [Member] | ||
Derivatives Fair Value [Line Items] | ||
Other Assets | 364 | 0 |
Accrued Liabilities And Other Liabilities | 31 | 138 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Forward loan sales commitments [Member] | ||
Derivatives Fair Value [Line Items] | ||
Other Assets | 20 | 20 |
Accrued Liabilities And Other Liabilities | 0 | 0 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Lock Commitments [Member] | ||
Derivatives Fair Value [Line Items] | ||
Other Assets | 951 | 341 |
Accrued Liabilities And Other Liabilities | 0 | 0 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Cap [Member] | Written | ||
Derivatives Fair Value [Line Items] | ||
Other Assets | 0 | 0 |
Accrued Liabilities And Other Liabilities | 1 | 11 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Cap [Member] | Purchase | ||
Derivatives Fair Value [Line Items] | ||
Other Assets | 1 | 11 |
Accrued Liabilities And Other Liabilities | $ 0 | $ 0 |
DERIVATIVE INSTRUMENTS AND HE_5
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effect of Derivative Instruments on Statement of Income (Loss) (Detail) - Not Designated as Hedging Instrument, Economic Hedge [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Economic undesignated hedges: | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 726 | $ 228 | $ 1,386 | $ 358 |
Sale of TBA GNMA MBS pools [Member] | Mortgage Banking [Member] | ||||
Economic undesignated hedges: | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 454 | 214 | 458 | 210 |
Forward loan sales commitments [Member] | Mortgage Banking [Member] | ||||
Economic undesignated hedges: | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | 0 | 0 | 8 |
Interest Rate Lock Commitments [Member] | Mortgage Banking [Member] | ||||
Economic undesignated hedges: | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 254 | 15 | 910 | 145 |
Interest Rate Cap [Member] | Interest Income [Member] | ||||
Economic undesignated hedges: | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | (1) | 0 | (5) |
Interest Rate Cap [Member] | Interest Rate Swap [Member] | Interest Income [Member] | ||||
Economic undesignated hedges: | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 18 | $ 0 | $ 18 | $ 0 |
OFFESTTING OF ASSETS AND LIABIL
OFFESTTING OF ASSETS AND LIABILITIES - Offsetting of financial assets and liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Offsetting [Abstract] | ||
Gross amount recognized of derivative asset | $ 351 | $ 11 |
Gross amount of derivatives assets offset | 0 | 0 |
Net asset amount of assets presented in the Statement of Financial Condition | 351 | 11 |
Obligation to return Financial instrument, derivatives assets | 0 | 0 |
Obligation to return Cash Collateral, derivative assets | (351) | (11) |
Net derivative asset amount not offset | 0 | 0 |
Gross amount recognized of derivative liabilities | 1,820 | |
Gross amount of derivative liabilities offset | 0 | |
Net derivative liability amount offset presented | 1,820 | |
Right to claim Financial instrument, derivatives liabilities | (1,820) | |
Right to claim Cash Collateral, derivatives liabilities | 0 | |
Net derivatives liability amount not offset | 0 | |
Gross amount recognized of repurchase agreements | 300,000 | 300,000 |
Gross amount of repurchase agreements offset | 0 | (200,000) |
Net repurchase agreements amount offset presented | 300,000 | 100,000 |
Right to claim Financial instrument, repurchase agreements | (300,000) | (100,000) |
Right to claim Cash Collateral, repurchase agreements | 0 | 0 |
Net repurchase agreements amount not offset | 0 | 0 |
Gross amount of liabilties offset | 0 | |
Gross amount recognized of liabilities | 301,820 | |
Right to claim Cash Collateral, liabilties | 0 | |
Right to claim Financial instrument, liabilities | (301,820) | |
Net liabilities amount offset presented | 301,820 | |
Net liability amount not offset | 0 | |
Securities Purchased Under Agreements To Resell Gross | 0 | 200,000 |
Securities Purchased Under Agreements To Resell Liability | 0 | (200,000) |
Securities Purchased Under Agreements To Resell Not Offset | 0 | 0 |
Securities Purchased Under Agreements To Resell Collateral Obligation To Return Securities | 0 | 0 |
Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash | 0 | 0 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Securities | 0 | 0 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Cash | (351) | (11) |
Securities Purchased Under Agreements To Resell Amount Offset Against Collateral | 0 | 0 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability | 0 | (200,000) |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Amount Offset Against Collateral | 0 | 0 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross | 351 | 200,011 |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability Not Offset | $ 351 | $ 11 |
GOODWILL AND OTHER INTANGIBLE_2
GOODWILL AND OTHER INTANGIBLES - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Sep. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 |
Finite Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 34,401 | $ 34,401 | $ 28,098 | ||
Goodwill impairment | 0 | ||||
Intangible assets amount | $ 43,893 | 43,893 | $ 7,573 | $ 8,340 | |
Minimum [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Weighted average amortization period | 1 year | ||||
Maximum [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Weighted average amortization period | 6 years | ||||
Core Deposits [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Intangible assets amount | $ 37,749 | 37,749 | 3,695 | ||
Customer Relationships [Member] | Credit Card [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Intangible assets amount | 5,789 | 5,789 | 4,137 | ||
Customer Relationships [Member] | Insurance Customer Intangible [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Intangible assets amount | $ 355 | $ 355 | $ 508 | ||
Santander [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 6,300 | ||||
Total purchase price consideration (cash) | 1,277,626 | ||||
Intangibles | 39,200 | ||||
Santander [Member] | Core Deposits [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Intangibles | 35,400 | ||||
Santander [Member] | Customer Relationships [Member] | Credit Card [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Intangibles | $ 3,800 |
GOODWILL AND OTHER INTANGIBLE_3
GOODWILL AND OTHER INTANGIBLES - Gross Amount and Accumulated Amortization of Other Intangible Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Finite-Lived Intangible Assets, Gross [Abstract] | |||||
Beginning balance | $ 77,196 | $ 77,196 | $ 77,196 | $ 77,196 | |
Ending balance | 116,428 | 77,196 | 116,428 | 77,196 | |
Finite-Lived Intangible Assets, Net [Abstract] | |||||
Beginning balance | (71,048) | (68,089) | (69,623) | (66,537) | |
Amortization | (1,487) | (767) | (2,912) | (2,319) | |
Ending balance | (72,535) | (68,856) | (72,535) | (68,856) | |
Net Intangible assets | 43,893 | 8,340 | 43,893 | 8,340 | $ 7,573 |
Santander [Member] | |||||
Finite-Lived Intangible Assets, Gross [Abstract] | |||||
Additions due to acquisitions | 39,232 | 0 | 39,232 | 0 | |
Core Deposits [Member] | |||||
Finite-Lived Intangible Assets, Gross [Abstract] | |||||
Beginning balance | 51,664 | 51,664 | 51,664 | 51,664 | |
Ending balance | 87,096 | 51,664 | 87,096 | 51,664 | |
Finite-Lived Intangible Assets, Net [Abstract] | |||||
Beginning balance | (48,578) | (47,762) | (48,176) | (47,329) | |
Amortization | (769) | (207) | (1,171) | (640) | |
Ending balance | (49,347) | (47,969) | (49,347) | (47,969) | |
Net Intangible assets | 37,749 | 3,695 | 37,749 | 3,695 | |
Core Deposits [Member] | Santander [Member] | |||||
Finite-Lived Intangible Assets, Gross [Abstract] | |||||
Additions due to acquisitions | 35,432 | 0 | 35,432 | 0 | |
Customer Relationships [Member] | Credit Card [Member] | |||||
Finite-Lived Intangible Assets, Gross [Abstract] | |||||
Beginning balance | 24,465 | 24,465 | 24,465 | 24,465 | |
Ending balance | 28,265 | 24,465 | 28,265 | 24,465 | |
Finite-Lived Intangible Assets, Net [Abstract] | |||||
Beginning balance | (21,797) | (19,806) | (20,850) | (18,763) | |
Amortization | (679) | (522) | (1,626) | (1,565) | |
Ending balance | (22,476) | (20,328) | (22,476) | (20,328) | |
Net Intangible assets | 5,789 | 4,137 | 5,789 | 4,137 | |
Customer Relationships [Member] | Credit Card [Member] | Santander [Member] | |||||
Finite-Lived Intangible Assets, Gross [Abstract] | |||||
Additions due to acquisitions | 3,800 | 0 | 3,800 | 0 | |
Customer Relationships [Member] | Insurance Customer Intangible [Member] | |||||
Finite-Lived Intangible Assets, Gross [Abstract] | |||||
Beginning balance | 1,067 | 1,067 | 1,067 | 1,067 | |
Ending balance | 1,067 | 1,067 | 1,067 | 1,067 | |
Finite-Lived Intangible Assets, Net [Abstract] | |||||
Beginning balance | (673) | (521) | (597) | (445) | |
Amortization | (39) | (38) | (115) | (114) | |
Ending balance | (712) | (559) | (712) | (559) | |
Net Intangible assets | 355 | 508 | 355 | 508 | |
Customer Relationships [Member] | Insurance Customer Intangible [Member] | Santander [Member] | |||||
Finite-Lived Intangible Assets, Gross [Abstract] | |||||
Additions due to acquisitions | $ 0 | $ 0 | $ 0 | $ 0 |
GOODWILL AND OTHER INTANGIBLE_4
GOODWILL AND OTHER INTANGIBLES - Yearly Amortization Expense (Detail) $ in Thousands | Sep. 30, 2020USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
2020 | $ 3,001 |
2021 | 11,293 |
2022 | 8,731 |
2023 | 7,651 |
2024 | 6,418 |
2025 and after | $ 6,799 |
NON-CONSOLIDATED VARIABLE INT_3
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | ||||||
Feb. 16, 2011 | Apr. 30, 2004 | Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Carrying amount of servicing assets | $ 33,344 | $ 26,874 | $ 26,040 | $ 26,762 | $ 27,231 | $ 27,428 | ||
Servicing Asset at Fair Value, Amount | $ 37,757 | $ 31,027 | ||||||
Weighted-average yield | 1.60% | 2.52% | ||||||
Allowance for Credit Losses | $ 1,386 | 1,631 | $ 0 | |||||
Loans and Leases Receivable, Gross | $ 11,800,000 | |||||||
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 servicing asset 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. | |||||||
Commercial Portfolio Segment [Member] | Nonperforming Financing Receivable [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Cash realized on sale of loan | $ 4,800 | |||||||
Cpg Gs [Member] | Commercial Portfolio Segment [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Loans sold to CPG | $ 269,300 | |||||||
Loans and Leases Receivable, Gross | 136,100 | |||||||
Cpg Gs [Member] | Commercial Portfolio Segment [Member] | Nonperforming Financing Receivable [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Cash realized on sale of loan | $ 88,500 | |||||||
Acquired Equity interest on disposal of loans held for sale | 35.00% | |||||||
Cpg Gs [Member] | Prlp [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Payment to be made on pro rata basis | 35.00% | |||||||
Cpg Gs [Member] | FirstBank [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Payment to be made on pro rata basis | 65.00% | |||||||
Maximum [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Percentage Of Variation In Assumptions | 20.00% | |||||||
Minimum [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Percentage Of Variation In Assumptions | 10.00% | |||||||
Minimum [Member] | Cpg Gs [Member] | Prlp [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Percentage Of Priority Interest To Be Received On Invested Capital | 12.00% | |||||||
Variable Rate Demand Obligation [Member] | Junior Subordinated Deferrable Debentures [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Debt Instrument, Maturity Date, Description | The Junior Subordinated Deferrable Debentures issued by the Corporation in April 2004 and September 2004 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). | |||||||
MBS [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Weighted-average yield | 1.77% | 2.60% | ||||||
Allowance for Credit Losses | $ 1,078 | |||||||
MBS [Member] | Private label [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Allowance for Credit Losses | $ 1,078 | $ 1,323 | $ 0 | |||||
MBS [Member] | Private label [Member] | LIBOR [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Debt Instrument Description Of Variable Rate Basis | 90-day LIBOR | |||||||
Fbp Statutory Trust One [Member] | Variable Rate Demand Obligation [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Proceeds from Issuance of Trust Preferred Securities | $ 100,000 | |||||||
Proceeds of the purchase of FBP Statury Trust | 3,100 | |||||||
Principal amount of corporation's junior subordinated deferrable debentures | 103,100 | |||||||
Fbp Statutory Trust Two [Member] | Variable Rate Demand Obligation [Member] | ||||||||
Servicing Liabilities At Fair Value [Line Items] | ||||||||
Proceeds from Issuance of Trust Preferred Securities | 125,000 | |||||||
Proceeds of the purchase of FBP Statury Trust | 3,900 | |||||||
Principal amount of corporation's junior subordinated deferrable debentures | $ 128,900 |
NON-CONSOLIDATED VARIABLE INT_4
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Changes in Servicing Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Transfers and Servicing [Abstract] | ||||
Balance at beginning of period | $ 26,040 | $ 27,231 | $ 26,762 | $ 27,428 |
Capitalization of servicing assets | 1,598 | 986 | 3,168 | 2,855 |
Amortization | (1,594) | (1,290) | (3,808) | (3,266) |
Temporary impairment recoveries (charges), net | (163) | (53) | (206) | (73) |
Other | (318) | 0 | (353) | (70) |
Balance at end of period | $ 33,344 | $ 26,874 | $ 33,344 | $ 26,874 |
NON-CONSOLIDATED VARIABLE INT_5
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS - Changes in Impairment Allowance (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Transfers and Servicing [Abstract] | ||||
Balance at beginning of period | $ 39 | $ 50 | $ 73 | $ 30 |
Temporary impairment charges | 163 | 54 | 301 | 78 |
OTTI of servicing assets | 0 | 0 | (77) | 0 |
Recoveries | 0 | (1) | (95) | (5) |
Balance at end of period | $ 202 | $ 103 | $ 202 | $ 103 |
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 | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Transfers and Servicing [Abstract] | ||||
Servicing fees | $ 2,460 | $ 2,166 | $ 6,463 | $ 6,333 |
Late charges and prepayment penalties | 114 | 144 | 372 | 455 |
Adjustment for loans repurchased | (318) | 0 | (353) | (70) |
Other | 0 | 0 | 0 | (15) |
Servicing income, gross | 2,256 | 2,310 | 6,482 | 6,703 |
Amortization and impairment of servicing assets | (1,757) | (1,343) | (4,014) | (3,339) |
Servicing income, net | $ 499 | $ 967 | $ 2,468 | $ 3,364 |
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) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
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 | 7.20% | 6.90% |
Discount rate | 10.00% | 10.00% |
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 | 9.20% | 9.30% |
Discount rate | 14.30% | 14.30% |
Maximum [Member] | Government-guaranteed mortgage loans | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 6.40% | 6.40% |
Discount rate | 12.00% | 12.00% |
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 | 6.90% | 6.70% |
Discount rate | 10.00% | 10.00% |
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 | 8.60% | 8.90% |
Discount rate | 13.80% | 14.30% |
Minimum [Member] | Government-guaranteed mortgage loans | ||
Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities [Line Items] | ||
Constant prepayment rate | 6.20% | 6.20% |
Discount rate | 12.00% | 12.00% |
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 | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Transfers and Servicing [Abstract] | ||||||
Carrying amount of servicing assets | $ 33,344 | $ 26,762 | $ 26,040 | $ 26,874 | $ 27,231 | $ 27,428 |
Fair value | $ 37,757 | $ 31,027 | ||||
Weighted-average expected life | 7 years 11 months 15 days | 8 years 4 months 20 days | ||||
Constant prepayment rate | 6.80% | 6.45% | ||||
Decrease in fair value due to 10% adverse change, constant prepayment rate | $ 909 | $ 748 | ||||
Decrease in fair value due to 20% adverse change, constant prepayment rate | $ 1,782 | $ 1,464 | ||||
Discount rate | 11.21% | 11.27% | ||||
Decrease in fair value due to 10% adverse change, discount rate | $ 1,654 | $ 1,450 | ||||
Decrease in fair value due to 20% adverse change, discount rate | $ 3,182 | $ 2,783 |
LOANS PAYABLE - Additional Info
LOANS PAYABLE - Additional Information (Detail) | Sep. 30, 2020USD ($) |
Short Term Debt [Line Items] | |
FED Discount Window funds availability | $ 936,100,000 |
Federal Reserve Bank Advances [Member] | |
Short Term Debt [Line Items] | |
Short-term Debt | 0 |
Loans Pledged as Collateral | $ 1,600,000,000 |
DEPOSITS - Summary of Deposit B
DEPOSITS - Summary of Deposit Balances (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Deposits [Abstract] | ||
Non-interest bearing checking accounts | $ 4,467,041 | $ 2,367,856 |
Savings accounts | 4,096,042 | 2,437,345 |
Interest-bearing checking accounts | 3,477,506 | 1,412,390 |
Certificates of deposit | 2,886,115 | 2,695,749 |
Brokered certificates of deposit | 276,194 | 435,089 |
Total deposits | $ 15,202,898 | $ 9,348,429 |
DEPOSITS - Brokered Certificate
DEPOSITS - Brokered Certificates Of Deposit Mature (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Deposits [Abstract] | ||
Three months or less | $ 60,107 | |
Over three months to six months | 54,096 | |
Over six months to one year | 53,591 | |
One year to three years | 81,121 | |
Three years to five years | 27,279 | |
Over five years | 0 | |
Total | $ 276,194 | $ 435,089 |
DEPOSITS - Components of Intere
DEPOSITS - Components of Interest Expense on Deposits (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Deposits [Abstract] | ||||
Interest expense on deposits | $ 16,245 | $ 20,159 | $ 52,587 | $ 56,385 |
Accretion Of Premium From Acquisitions | (284) | (2) | (285) | (6) |
Amortization of broker placement fees | 127 | 184 | 437 | 557 |
Interest expense on deposits | $ 16,088 | $ 20,341 | $ 52,739 | $ 56,936 |
SECURITIES SOLD UNDER AGREEME_3
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase agreements | $ 300,000 | $ 100,000 |
short term debt [member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase agreements | 0 | 0 |
long term debt [member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Repurchase agreements | $ 300,000 | $ 100,000 |
SECURITIES SOLD UNDER AGREEME_4
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Securities Sold Under Agreements to Repurchase (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Assets Sold under Agreements to Repurchase [Line Items] | |||
Reverse repurchase agreements | $ 0 | $ 200,000 | |
Securities Sold under Agreements to Repurchase [Member] | |||
Assets Sold under Agreements to Repurchase [Line Items] | |||
Long-term Debt, Weighted Average Interest Rate, at Point in Time | 1.81% | 2.26% | |
long term debt [member] | |||
Assets Sold under Agreements to Repurchase [Line Items] | |||
Reverse repurchase agreements | $ 200,000 |
SECURITIES SOLD UNDER AGREEME_5
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Schedule of Repurchase Agreement Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold Under Agreements To Repurchase | $ 300,000 | $ 100,000 |
One year to three years [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold Under Agreements To Repurchase | 100,000 | |
Three years to five 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 | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
Repurchase Agreement Counterparty [Line Items] | ||
Securities Sold Under Agreements To Repurchase | $ 300,000 | $ 100,000 |
Jp Morgan Chase [Member] | ||
Repurchase Agreement Counterparty [Line Items] | ||
Securities Sold Under Agreements To Repurchase | $ 100,000 | |
Weighted-Average Maturity | 16 months | |
CREDIT SUISSE (US) [Member] | ||
Repurchase Agreement Counterparty [Line Items] | ||
Securities Sold Under Agreements To Repurchase | $ 200,000 | |
Weighted-Average Maturity | 52 months |
ADVANCES FROM THE FEDERAL HOM_3
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Summary of Advances from FHLB (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Federal Home Loan Bank, Advances [Line Items] | ||
Advances From Federal Home Loan Banks | $ 490,000 | $ 570,000 |
short term debt [member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Advances From Federal Home Loan Banks | 0 | 35,000 |
long term debt [member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Advances From Federal Home Loan Banks | $ 490,000 | $ 535,000 |
Federal Home Loan Bank, Advance, Branch of FHLB Bank, Interest Rate, Type [Fixed List] | Fixed | Fixed |
ADVANCES FROM THE FEDERAL HOM_4
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Summary of Advances from FHLB (Parenthetical) (Detail) | Sep. 30, 2020 | Dec. 31, 2019 |
short term debt [member] | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Weighted average interest rate | 2.24% | 1.83% |
long term debt [member] | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Weighted average interest rate | 2.21% | |
Interest rate type | Fixed | Fixed |
ADVANCES FROM THE FEDERAL HOM_5
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Advances from FHLB Mature (Detail) $ in Thousands | Sep. 30, 2020USD ($) |
Advances from Federal Home Loan Banks [Abstract] | |
Within one month | $ 50,000 |
Over one to three months | 0 |
Over three to six months | 0 |
Over six months to one year | 120,000 |
Over one year to three years | 320,000 |
Total Federal Home Loan Bank Advances | $ 490,000 |
ADVANCES FROM THE FEDERAL HOM_6
ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) - Additional Information (Detail) $ in Millions | Sep. 30, 2020USD ($) |
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | |
Additional capacity on credit facility based on collateral pledged | $ 1.4 |
Federal Home Loan Bank Advances [Member] | |
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | |
Additional capacity on credit facility based on collateral pledged | 1.4 |
Letters of credit issued by the FHLB as pledges for public deposits in the Virgin Islands | $ 17 |
OTHER BORROWINGS - Components o
OTHER BORROWINGS - Components of Other Borrowings (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Subordinated Borrowing [Line Items] | ||
Junior subordinated debentures | $ 183,762 | $ 184,150 |
Junior Subordinated Debt [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debentures | 183,762 | 184,150 |
Junior Subordinated Debt [Member] | due June 17, 2034 [Member] | Fbp Statutory Trust One [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debentures | 65,205 | 65,593 |
Junior Subordinated Debt [Member] | due September 20, 2034 [Member] | Fbp 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] | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
due June 17, 2034 [Member] | Fbp Statutory Trust One [Member] | ||
Subordinated Borrowing [Line Items] | ||
Floating Interest rate on junior subordinated debentures | 3.00% | 4.65% |
Callable step-rate notes rate | 2.75% | |
due September 20, 2034 [Member] | Fbp Statutory Trust Two [Member] | ||
Subordinated Borrowing [Line Items] | ||
Floating Interest rate on junior subordinated debentures | 2.73% | 4.41% |
Callable step-rate notes rate | 2.50% |
STOCKHOLDERS' EQUITY - Addition
STOCKHOLDERS' EQUITY - Additional Information (Detail) - USD ($) | Jul. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 |
Class Of Stock [Line Items] | ||||||
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 | 2,000,000,000 | |||
Common stock, par value | $ 0.1 | $ 0.1 | $ 0.1 | |||
Common stock, shares issued | 223,028,185 | 223,028,185 | 222,103,721 | |||
Common stock, shares outstanding | 218,228,901 | 218,228,901 | 217,359,337 | |||
Common Stock Dividends Per Share Declared | $ 0.05 | $ 0.05 | $ 0.03 | $ 0.15 | $ 0.09 | |
Preferred Stock Shares Authorized | 50,000,000 | 50,000,000 | 50,000,000 | |||
Preferred stock, par value | $ 1 | $ 1 | ||||
Liquidation value per share | $ 25 | $ 25 | ||||
Shares of common stock repurchased | 51,814 | 176,015 | ||||
Stock repurchase plan treasury stock | 4,799,284 | 4,799,284 | 4,744,384 | |||
Legal surplus reserve rate | 10.00% | |||||
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 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 reserve amount | $ 97,586,000 | 97,586,000 | $ 97,586,000 | |||
Common Stock [Member] | ||||||
Class Of Stock [Line Items] | ||||||
Dividends declared | 11,000,000 | $ 6,500,000 | 32,800,000 | $ 19,600,000 | ||
Preferred Stock [Member] | ||||||
Class Of Stock [Line Items] | ||||||
Dividends declared | $ 700,000 | $ 700,000 | $ 2,000,000 | $ 2,000,000 | ||
Series A Preferred Stock [Member] | ||||||
Class Of Stock [Line Items] | ||||||
Preferred stock dividend rate percentage | 7.125% | |||||
Series B Preferred Stock [Member] | ||||||
Class Of Stock [Line Items] | ||||||
Preferred stock dividend rate percentage | 8.35% | |||||
Series C Preferred Stock [Member] | ||||||
Class Of Stock [Line Items] | ||||||
Preferred stock dividend rate percentage | 7.40% | |||||
Series D Preferred Stock [Member] | ||||||
Class Of Stock [Line Items] | ||||||
Preferred stock dividend rate percentage | 7.25% | |||||
Series E Preferred Stock [Member] | ||||||
Class Of Stock [Line Items] | ||||||
Preferred stock dividend rate percentage | 7.00% |
INCOME TAXES - Additional Infor
INCOME TAXES - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 01, 2020 | Dec. 31, 2019 | |
Income Tax Contingency [Line Items] | ||||||
Effective tax rate maximum statutory rate | 37.50% | |||||
Minimum percentage of bank net taxable income for paying Income tax at normal rate | 20.00% | |||||
Income tax (benefit) expense | $ (4,405) | $ 19,268 | $ (1,326) | $ 54,897 | ||
Estimated annual effective tax rate, excluding entities from which a tax benefit cannot be recognized and discrete items | 21.00% | 29.00% | ||||
Estimated annual effective tax rate, including all entities | 17.00% | 30.00% | ||||
Effective Income Tax Rate Excluding Discrete Items | 23.00% | 29.00% | ||||
Deferred Tax Assets Net Increase Decrease | $ 31,300 | |||||
Deferred Tax Assets Net | 347,500 | 347,500 | ||||
Valuation allowance | 99,600 | 99,600 | ||||
Provision For Loan Lease And Other Losses | 46,914 | 7,398 | 163,294 | $ 31,340 | ||
Santander [Member] | ||||||
Income Tax Contingency [Line Items] | ||||||
Deferred Tax Assets Net | $ 28,900 | |||||
Valuation allowance | (8,000) | (8,000) | ||||
Non-PCD Loans [Member] | ||||||
Income Tax Contingency [Line Items] | ||||||
Provision For Loan Lease And Other Losses | 38,900 | |||||
Non-PCD Loans [Member] | Santander [Member] | ||||||
Income Tax Contingency [Line Items] | ||||||
Income tax (benefit) expense | (13,000) | |||||
COVID-19 | ||||||
Income Tax Contingency [Line Items] | ||||||
Income tax (benefit) expense | (39,800) | |||||
United States [Member] | ||||||
Income Tax Contingency [Line Items] | ||||||
Income tax (benefit) expense | 1,200 | $ 1,200 | 3,400 | $ 3,500 | ||
FirstBank [Member] | ||||||
Income Tax Contingency [Line Items] | ||||||
Deferred Tax Assets Net | 347,200 | 347,200 | $ 264,800 | |||
Valuation allowance | $ 62,100 | $ 62,100 | $ 55,600 | |||
Domestic Tax Authority [Member] | Other taxable domestic corporations member [Member] | ||||||
Income Tax Contingency [Line Items] | ||||||
Dividend received deduction | 85.00% | |||||
Domestic Tax Authority [Member] | Subsidiaries [Member] | ||||||
Income Tax Contingency [Line Items] | ||||||
Dividend received deduction | 100.00% |
OTHER COMPREHENSIVE INCOME (L_3
OTHER COMPREHENSIVE INCOME (LOSS) - Change in Accumulated Other Comprehensive Loss by Component (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | $ 6,764 | |||
Ending balance | $ 45,327 | 45,327 | ||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Debt Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | 53,270 | $ (2,438) | 6,764 | $ (40,415) |
Other comprehensive income (loss) | (7,943) | 7,562 | 38,563 | 45,539 |
Ending balance | $ 45,327 | $ 5,124 | $ 45,327 | $ 5,124 |
OTHER COMPREHENSIVE LOSS - Recl
OTHER COMPREHENSIVE LOSS - Reclassifications Out of Accumulated Other Comprehensive Loss (Detail) - Reclassification Out Of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent | $ (5,288) | $ 497 | $ (11,749) | $ 497 |
Reclassification from AOCI, Current Period, Tax | 0 | 0 | 0 | 0 |
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | (5,288) | 497 | (11,749) | 497 |
Net gain (loss) on investment securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent | (5,288) | 497 | (13,380) | 497 |
Provsion For Credit Losses [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent | $ 0 | $ 0 | $ 1,631 | $ 0 |
EMPLOYEE BENEFIT PLANS - Activi
EMPLOYEE BENEFIT PLANS - Activity in the Projected Obligation of the Pension Plans (Detail)l $ in Thousands | 3 Months Ended |
Sep. 30, 2020USD ($) | |
Retirement Benefits [Abstract] | |
Projected benefit obligation | $ 104,900 |
Fair value of plan assets | 103,300 |
Net benefit obligation | (1,600) |
Net periodic pension benefit | $ 36 |
FAIR VALUE - Assets and Liabili
FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets: | ||
Investment securities available for sale | $ 3,294,649 | $ 2,123,525 |
Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Equity Securities | 1,475 | 1,428 |
Fair Value, Measurements, Recurring [Member] | Other Available For Sale Securities [Member] | ||
Assets: | ||
Investment securities available for sale | 650 | 500 |
Fair Value, Measurements, Recurring [Member] | U S Treasury Securities [Member] | ||
Assets: | ||
Investment securities available for sale | 7,531 | 7,479 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Noncallable | ||
Assets: | ||
Investment securities available for sale | 74,837 | 146,777 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Callable | ||
Assets: | ||
Investment securities available for sale | 3,195,869 | 1,950,331 |
Fair Value, Measurements, Recurring [Member] | Puerto Rico Government obligations [Member] | ||
Assets: | ||
Investment securities available for sale | 6,923 | 7,322 |
Fair Value, Measurements, Recurring [Member] | Private label [Member] | ||
Assets: | ||
Investment securities available for sale | 8,839 | 11,116 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||
Assets: | ||
Asset Derivative | 1,762 | 0 |
Derivatives, included in liabilities: | ||
Liability Derivatives | 1,789 | 0 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Cap [Member] | Purchase | ||
Assets: | ||
Asset Derivative | 1 | 11 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Cap [Member] | Written | ||
Derivatives, included in liabilities: | ||
Liability Derivatives | 1 | 11 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Lock Commitments [Member] | ||
Assets: | ||
Asset Derivative | 951 | 341 |
Fair Value, Measurements, Recurring [Member] | Loan Origination Commitments [Member] | ||
Assets: | ||
Asset Derivative | 20 | 20 |
Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | ||
Assets: | ||
Asset Derivative | 364 | 0 |
Derivatives, included in liabilities: | ||
Liability Derivatives | 31 | 138 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | ||
Assets: | ||
Equity Securities | 1,475 | 1,428 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Other Available For Sale Securities [Member] | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | U S Treasury Securities [Member] | ||
Assets: | ||
Investment securities available for sale | 7,531 | 7,479 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | US Government Agencies Debt Securities [Member] | Noncallable | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | US Government Agencies Debt Securities [Member] | Callable | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Puerto Rico Government obligations [Member] | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Private label [Member] | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Swap [Member] | ||
Assets: | ||
Asset Derivative | 0 | 0 |
Derivatives, included in liabilities: | ||
Liability Derivatives | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Cap [Member] | Purchase | ||
Assets: | ||
Asset Derivative | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Cap [Member] | Written | ||
Derivatives, included in liabilities: | ||
Liability Derivatives | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest Rate Lock Commitments [Member] | ||
Assets: | ||
Asset Derivative | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Loan Origination Commitments [Member] | ||
Assets: | ||
Asset Derivative | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Forward Contracts [Member] | ||
Assets: | ||
Asset Derivative | 0 | 0 |
Derivatives, included in liabilities: | ||
Liability Derivatives | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | ||
Assets: | ||
Equity Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Other Available For Sale Securities [Member] | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | U S Treasury Securities [Member] | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | US Government Agencies Debt Securities [Member] | Noncallable | ||
Assets: | ||
Investment securities available for sale | 74,837 | 146,777 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | US Government Agencies Debt Securities [Member] | Callable | ||
Assets: | ||
Investment securities available for sale | 3,195,869 | 1,950,331 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Puerto Rico Government obligations [Member] | ||
Assets: | ||
Investment securities available for sale | 4,016 | 4,348 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Private label [Member] | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Swap [Member] | ||
Assets: | ||
Asset Derivative | 1,762 | 0 |
Derivatives, included in liabilities: | ||
Liability Derivatives | 1,789 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Cap [Member] | Purchase | ||
Assets: | ||
Asset Derivative | 1 | 11 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Cap [Member] | Written | ||
Derivatives, included in liabilities: | ||
Liability Derivatives | 1 | 11 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest Rate Lock Commitments [Member] | ||
Assets: | ||
Asset Derivative | 951 | 341 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Loan Origination Commitments [Member] | ||
Assets: | ||
Asset Derivative | 20 | 20 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Forward Contracts [Member] | ||
Assets: | ||
Asset Derivative | 364 | 0 |
Derivatives, included in liabilities: | ||
Liability Derivatives | 31 | 138 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | ||
Assets: | ||
Equity Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Other Available For Sale Securities [Member] | ||
Assets: | ||
Investment securities available for sale | 650 | 500 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | U S Treasury Securities [Member] | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | US Government Agencies Debt Securities [Member] | Noncallable | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | US Government Agencies Debt Securities [Member] | Callable | ||
Assets: | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Puerto Rico Government obligations [Member] | ||
Assets: | ||
Investment securities available for sale | 2,907 | 2,974 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Private label [Member] | ||
Assets: | ||
Investment securities available for sale | 8,839 | 11,116 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Swap [Member] | ||
Assets: | ||
Asset Derivative | 0 | 0 |
Derivatives, included in liabilities: | ||
Liability Derivatives | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Cap [Member] | Purchase | ||
Assets: | ||
Asset Derivative | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Cap [Member] | Written | ||
Derivatives, included in liabilities: | ||
Liability Derivatives | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest Rate Lock Commitments [Member] | ||
Assets: | ||
Asset Derivative | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Loan Origination Commitments [Member] | ||
Assets: | ||
Asset Derivative | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Forward Contracts [Member] | ||
Assets: | ||
Asset Derivative | 0 | 0 |
Derivatives, included in liabilities: | ||
Liability Derivatives | $ 0 | $ 0 |
FAIR VALUE - Fair Value of Asse
FAIR VALUE - Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Available for Sale Securities | ||||
Total gains or (losses) (realized/unrealized): | ||||
Included in earnings | $ 0 | $ 497 | $ 1,631 | $ 497 |
Fair Value Inputs Level 3 [Member] | ||||
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | 12,643 | 15,906 | 14,590 | 17,238 |
Total gains or (losses) (realized/unrealized): | ||||
Included in other comprehensive income | 649 | 15 | 1,615 | 46 |
Included in earnings | 0 | (497) | (1,631) | (497) |
BSPR securities acquired | 150 | 0 | 150 | 0 |
Principal repayments and amortization | (1,046) | (414) | (2,328) | (1,777) |
Ending balance | $ 12,396 | $ 15,010 | $ 12,396 | $ 15,010 |
FAIR VLUE - Assets and Liabilit
FAIR VLUE - Assets and Liabilites Measured at Fair Value on Recurring Basis Using Unobservable Inputs (Level 3) (Detail) $ in Thousands | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale | $ 3,294,649 | $ 2,123,525 |
Puerto Rico Government obligations [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale | 6,900 | |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Private label [Member] | Valuation Technique, Discounted Cash Flow [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale | 8,839 | 11,116 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Puerto Rico Government obligations [Member] | Valuation Technique, Discounted Cash Flow [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale | $ 2,907 | $ 2,974 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Discount rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.124 | 0.137 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Prepayment rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.026 | 0.068 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Private label [Member] | Projected Cumulative Loss Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.024 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico Government obligations [Member] | Discount rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.085 | 0.069 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico Government obligations [Member] | Prepayment rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.030 | |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Minimum [Member] | Puerto Rico Government obligations [Member] | Projected Cumulative Loss Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.134 | |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Discount rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.124 | 0.137 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Prepayment rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.137 | 0.103 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Private label [Member] | Projected Cumulative Loss Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.263 | 0.074 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico Government obligations [Member] | Discount rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.085 | 0.069 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico Government obligations [Member] | Prepayment rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.030 | |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Maximum [Member] | Puerto Rico Government obligations [Member] | Projected Cumulative Loss Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.134 | |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Discount rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.124 | 0.137 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Prepayment rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.109 | 0.079 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Private label [Member] | Projected Cumulative Loss Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.118 | 0.028 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico Government obligations [Member] | Discount rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.085 | 0.069 |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico Government obligations [Member] | Prepayment rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.030 | |
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Weighted Average [Member] | Puerto Rico Government obligations [Member] | Projected Cumulative Loss Rate [Member] | ||
Debt Securities, Available-for-sale, Sale [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.134 |
FAIR VALUE - Changes in Unreali
FAIR VALUE - Changes in Unrealized Gains and Losses Recorded in Earnings (Detail) - Available for sale Securities [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
OTTI on available for sale investment securities credit component | $ 0 | $ (497) | $ 0 | $ (497) |
Provision for credit losses | 0 | 0 | (1,631) | 0 |
Included in earnings | $ 0 | $ 497 | $ 1,631 | $ 497 |
FAIR VALUE - Impairment of Valu
FAIR VALUE - Impairment of Valuation Adjustments were Recorded for Assets Recognized at Fair Value (Detail) - Fair Value Measurements Nonrecurring [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
OREO [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets Fair Value Adjustment | $ (999) | $ (1,311) | $ (1,775) | $ (5,513) |
Loans Held For Sale [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets Fair Value Adjustment | 0 | 0 | 0 | 0 |
Loans Receivable [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Assets Fair Value Adjustment | (193) | (6,221) | (5,906) | (14,546) |
Fair Value Inputs Level 1 [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Loans receivable | 0 | 0 | 0 | 0 |
Other Real Estate Owned | 0 | 0 | 0 | 0 |
Loans held for sale | 0 | 0 | 0 | 0 |
Fair Value Inputs Level 2 [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Loans receivable | 0 | 0 | 0 | 0 |
Other Real Estate Owned | 0 | 0 | 0 | 0 |
Loans held for sale | 0 | 0 | 0 | 0 |
Fair Value Inputs Level 3 [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Loans receivable | 239,256 | 211,406 | 239,256 | 211,406 |
Other Real Estate Owned | 89,049 | 103,033 | 89,049 | 103,033 |
Loans held for sale | $ 0 | $ 6,906 | $ 0 | $ 6,906 |
FAIR VALUE - Fair Value (Detail
FAIR VALUE - Fair Value (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Carrying Reported Amount Fair Value Disclosure [Member] | ||
Assets: | ||
Cash and due from banks and money market investments | $ 2,469,507 | $ 644,099 |
Investment securities available for sale | 3,294,649 | 2,123,525 |
Held To Maturity Securities | 189,156 | |
Less: allowance for credit losses | (10,176) | |
Held To Maturity Securities Net Of Allowance For Credit Losses | 178,980 | 138,675 |
Equity securities | 39,290 | 38,249 |
Loans held for sale | 48,670 | 39,477 |
Total gross loans held for investment portfolio | 11,847,275 | 9,002,205 |
Less: allowance for credit losses | (384,718) | (155,139) |
Loans held for investment, net | 11,462,557 | 8,847,066 |
Asset Derivative | 3,098 | 372 |
Liabilities: | ||
Deposits | 15,202,898 | 9,348,429 |
Securities sold under agreements to repurchase | 300,000 | 100,000 |
Advances from FHLB | 490,000 | 570,000 |
Other borrowings | 183,762 | 184,150 |
Liability Derivatives | 1,821 | 149 |
Estimate Of Fair Value Fair Value Disclosure [Member] | ||
Assets: | ||
Cash and due from banks and money market investments | 2,469,507 | 644,099 |
Investment securities available for sale | 3,294,649 | 2,123,525 |
Held To Maturity Securities Net Of Allowance For Credit Losses | 166,974 | 110,374 |
Equity securities | 39,290 | 38,249 |
Loans held for sale | 50,518 | 40,234 |
Loans held for investment, net | 11,502,824 | 8,715,144 |
Asset Derivative | 3,098 | 372 |
Liabilities: | ||
Deposits | 15,243,104 | 9,372,591 |
Securities sold under agreements to repurchase | 330,551 | 120,020 |
Advances from FHLB | 498,322 | 578,498 |
Other borrowings | 143,785 | 180,577 |
Liability Derivatives | 1,821 | 149 |
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 1 [Member] | ||
Assets: | ||
Cash and due from banks and money market investments | 2,469,507 | 644,099 |
Investment securities available for sale | 7,531 | 7,479 |
Held To Maturity Securities Net Of Allowance For Credit Losses | 0 | 0 |
Equity securities | 1,475 | 1,428 |
Loans held for sale | 0 | 0 |
Loans held for investment, net | 0 | 0 |
Asset Derivative | 0 | 0 |
Liabilities: | ||
Deposits | 0 | 0 |
Securities sold under agreements to repurchase | 0 | 0 |
Advances from FHLB | 0 | 0 |
Other borrowings | 0 | 0 |
Liability Derivatives | 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 | 3,274,722 | 2,101,456 |
Held To Maturity Securities Net Of Allowance For Credit Losses | 0 | 0 |
Equity securities | 37,815 | 36,821 |
Loans held for sale | 50,518 | 40,234 |
Loans held for investment, net | 0 | 0 |
Asset Derivative | 3,098 | 372 |
Liabilities: | ||
Deposits | 15,243,104 | 9,372,591 |
Securities sold under agreements to repurchase | 330,551 | 120,020 |
Advances from FHLB | 498,322 | 578,498 |
Other borrowings | 0 | 0 |
Liability Derivatives | 1,821 | 149 |
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 | 12,396 | 14,590 |
Held To Maturity Securities Net Of Allowance For Credit Losses | 166,974 | 110,374 |
Equity securities | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans held for investment, net | 11,502,824 | 8,715,144 |
Asset Derivative | 0 | 0 |
Liabilities: | ||
Deposits | 0 | 0 |
Securities sold under agreements to repurchase | 0 | 0 |
Advances from FHLB | 0 | 0 |
Other borrowings | 143,785 | 180,577 |
Liability Derivatives | $ 0 | $ 0 |
REVENUE FROM CONTRACT WITH CUST
REVENUE FROM CONTRACT WITH CUSTOMERS (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Disaggregation of Revenue [Line Items] | ||||
Net interest income | $ 148,696 | $ 144,425 | $ 422,555 | $ 427,152 |
Non-interest income (loss) | 29,934 | 21,401 | 81,026 | 66,167 |
Total Revenue | 178,630 | 165,826 | 503,581 | 493,319 |
Service charges and fees on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 5,848 | 6,108 | 16,280 | 17,711 |
Insurance commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 1,473 | 1,983 | 7,436 | 8,258 |
Total Revenue | 3,300 | 3,000 | ||
Merchant-related income [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 2,217 | 1,598 | 4,105 | 4,209 |
Credit and debit card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 5,142 | 5,917 | 13,513 | 17,089 |
Other service charges and fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 2,274 | 1,440 | 6,536 | 5,235 |
Not inscope of Topic 606 [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 12,980 | 4,355 | 33,156 | 13,665 |
Mortgage Banking Segment [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net interest income | 20,666 | 16,991 | 55,177 | 52,051 |
Non-interest income (loss) | 6,756 | 4,400 | 14,843 | 12,255 |
Total Revenue | 27,422 | 21,391 | 70,020 | 64,306 |
Mortgage Banking Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 0 | 0 |
Mortgage Banking Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 49 | 67 | 215 | 141 |
Mortgage Banking Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 6,707 | 4,333 | 14,628 | 12,114 |
Consumer Retail Banking Segment [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net interest income | 54,323 | 62,164 | 165,609 | 185,914 |
Non-interest income (loss) | 12,315 | 12,705 | 36,634 | 39,238 |
Total Revenue | 66,638 | 74,869 | 202,243 | 225,152 |
Consumer Retail Banking Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 3,021 | 3,771 | 8,777 | 10,704 |
Consumer Retail Banking Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 1,377 | 1,854 | 6,933 | 7,799 |
Consumer Retail Banking Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 1,941 | 1,017 | 3,535 | 2,953 |
Consumer Retail Banking Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 4,778 | 4,897 | 12,380 | 14,040 |
Consumer Retail Banking Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 846 | 828 | 1,882 | 2,651 |
Consumer Retail Banking Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 352 | 338 | 3,127 | 1,091 |
Commercial And Corporate Segment [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net interest income | 35,803 | 25,699 | 86,631 | 69,171 |
Non-interest income (loss) | 2,838 | 2,331 | 7,673 | 7,146 |
Total Revenue | 38,641 | 28,030 | 94,304 | 76,317 |
Commercial And Corporate Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 2,044 | 1,443 | 5,049 | 4,355 |
Commercial And Corporate Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 0 | 0 |
Commercial And Corporate Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 271 | 0 | 467 |
Commercial And Corporate Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 16 | 283 | 45 | 927 |
Commercial And Corporate Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 700 | 300 | 1,591 | 1,042 |
Commercial And Corporate Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 78 | 34 | 988 | 355 |
Treasury And Investments Segment [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net interest income | 18,577 | 18,147 | 55,549 | 52,804 |
Non-interest income (loss) | 5,457 | (433) | 13,777 | (287) |
Total Revenue | 24,034 | 17,714 | 69,326 | 52,517 |
Treasury And Investments Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 0 | 0 |
Treasury And Investments Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 89 | 0 |
Treasury And Investments Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 5,457 | (433) | 13,688 | (287) |
United States Operations Segment [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net interest income | 12,918 | 14,977 | 39,939 | 47,328 |
Non-interest income (loss) | 1,058 | 640 | 2,534 | 1,942 |
Total Revenue | 13,976 | 15,617 | 42,473 | 49,270 |
United States Operations Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 125 | 172 | 416 | 458 |
United States Operations Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 5 | 22 | 24 | 51 |
United States Operations Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 0 | 0 | 0 | 0 |
United States Operations Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | (2) | 212 | 12 | 561 |
United States Operations Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 537 | 169 | 1,366 | 526 |
United States Operations Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 393 | 65 | 716 | 346 |
Virgin Islands Operations Segment [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net interest income | 6,409 | 6,447 | 19,650 | 19,884 |
Non-interest income (loss) | 1,510 | 1,758 | 5,565 | 5,873 |
Total Revenue | 7,919 | 8,205 | 25,215 | 25,757 |
Virgin Islands Operations Segment [Member] | Service charges and fees on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 658 | 722 | 2,038 | 2,194 |
Virgin Islands Operations Segment [Member] | Insurance commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 91 | 107 | 479 | 408 |
Virgin Islands Operations Segment [Member] | Merchant-related income [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 276 | 310 | 570 | 789 |
Virgin Islands Operations Segment [Member] | Credit and debit card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 350 | 525 | 1,076 | 1,561 |
Virgin Islands Operations Segment [Member] | Other service charges and fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | 142 | 76 | 1,393 | 875 |
Virgin Islands Operations Segment [Member] | Not inscope of Topic 606 [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Non-interest income (loss) | $ (7) | $ 18 | $ 9 | $ 46 |
REVENUE FROM CONTRACT WITH CU_2
REVENUE FROM CONTRACT WITH CUSTOMERS - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Revenue from External Customer [Line Items] | ||||||||
Contract liability | $ 2,233 | $ 1,828 | $ 2,233 | $ 1,828 | $ 2,314 | $ 2,476 | $ 1,909 | $ 2,071 |
Revenue | 178,630 | 165,826 | 503,581 | 493,319 | ||||
Other non-interest income | 10,132 | $ 9,411 | 29,263 | 28,277 | ||||
Hurricane [Member] | ||||||||
Revenue from External Customer [Line Items] | ||||||||
Other non-interest income | $ 5,000 | 5,000 | ||||||
Insurance commissions [Member] | ||||||||
Revenue from External Customer [Line Items] | ||||||||
Revenue | $ 3,300 | $ 3,000 |
REVENUE FROM CONTRACT WITH CU_3
REVENUE FROM CONTRACT WITH CUSTOMERS - Activity of Contract Liability (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Contract with Customer, Liability [Abstract] | ||||
Beginning balance | $ 2,314 | $ 1,909 | $ 2,476 | $ 2,071 |
Amortization | (81) | (81) | (243) | (243) |
Ending balance | $ 2,233 | $ 1,828 | $ 2,233 | $ 1,828 |
SUPPLEMENTAL CASH FLOW INFORM_3
SUPPLEMENTAL CASH FLOW INFORMATION - Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands | Sep. 01, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 |
Cash paid for: | ||||||
Interest on borrowings | $ 71,859 | $ 79,789 | ||||
Income tax | 13,200 | 10,238 | ||||
Operating cash flow from operating leases | 8,492 | 7,619 | ||||
Non-cash investing and financing activities: | ||||||
Additions to OREO | 6,608 | 29,670 | ||||
Additions to auto and other repossessed assets | 24,160 | 34,497 | ||||
Capitalization of servicing assets | $ 1,598 | $ 986 | 3,168 | 2,855 | ||
Loan securitizations | 156,786 | 173,428 | ||||
Loans held for investment transferred to held for sale | 4,876 | 20,928 | ||||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 1,328 | 8,139 | ||||
Adoption of lease accounting standard: | ||||||
Right-of-use assets operating leases | 107,629 | 107,629 | $ 61,327 | |||
Operating Lease, Liability | 110,888 | 110,888 | $ 64,259 | |||
Santander [Member] | ||||||
Adoption of lease accounting standard: | ||||||
Right-of-use assets operating leases | $ 52,100 | |||||
Operating Lease, Liability | 52,100 | |||||
Acquisition | ||||||
Total purchase price consideration (cash) | 1,277,626 | |||||
Total assets and identifiable intangible assets acquired | 5,500,000 | |||||
Santander [Member] | Fair Value | ||||||
Acquisition | ||||||
Total assets and identifiable intangible assets acquired | 5,562,132 | |||||
Total liabilities assumed | $ 4,290,809 | |||||
ASU 2016-02 [Member] | ||||||
Adoption of lease accounting standard: | ||||||
Right-of-use assets operating leases | 0 | 57,178 | 0 | 57,178 | ||
Operating Lease, Liability | $ 0 | $ 59,818 | $ 0 | $ 59,818 |
SEGMENT INFORMATION - Additiona
SEGMENT INFORMATION - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2020numberofreportableunits | |
Segment Reporting [Abstract] | |
Number of reportable segments | 6 |
SEGMENT INFORMATIO - Informatio
SEGMENT INFORMATIO - Information about reportable segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Segment Reporting Information [Line Items] | ||||
Interest Income | $ 170,402 | $ 172,295 | $ 494,282 | $ 508,277 |
Interest expense | (21,706) | (27,870) | (71,727) | (81,125) |
Net interest income | 148,696 | 144,425 | 422,555 | 427,152 |
(Provision) release for credit losses | (46,914) | (7,398) | (163,294) | (31,340) |
Non-interest income (loss) | 29,934 | 21,401 | 81,026 | 66,167 |
Commercial And Corporate Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 35,803 | 25,699 | 86,631 | 69,171 |
Non-interest income (loss) | 2,838 | 2,331 | 7,673 | 7,146 |
Treasury And Investments Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 18,577 | 18,147 | 55,549 | 52,804 |
Non-interest income (loss) | 5,457 | (433) | 13,777 | (287) |
United States Operations Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 12,918 | 14,977 | 39,939 | 47,328 |
Non-interest income (loss) | 1,058 | 640 | 2,534 | 1,942 |
Virgin Islands Operations Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 6,409 | 6,447 | 19,650 | 19,884 |
Non-interest income (loss) | 1,510 | 1,758 | 5,565 | 5,873 |
Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest Income | 170,402 | 172,295 | 494,282 | 508,277 |
Net (charge) credit for transfer of funds | 0 | 0 | 0 | 0 |
Interest expense | (21,706) | (27,870) | (71,727) | (81,125) |
Net interest income | 148,696 | 144,425 | 422,555 | 427,152 |
(Provision) release for credit losses | (46,914) | (7,398) | (163,294) | (31,340) |
Non-interest income (loss) | 29,934 | 21,401 | 81,026 | 66,167 |
Direct non-interest expenses | (62,280) | (62,647) | (181,318) | (190,974) |
Segment income | 69,436 | 95,781 | 158,969 | 271,005 |
Average earnings assets | 14,758,254 | 11,553,259 | 13,079,032 | 11,442,243 |
Operating Segments [Member] | Mortgage Banking Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest Income | 32,293 | 30,091 | 89,353 | 91,493 |
Net (charge) credit for transfer of funds | (11,627) | (13,100) | (34,176) | (39,442) |
Interest expense | 0 | 0 | 0 | 0 |
Net interest income | 20,666 | 16,991 | 55,177 | 52,051 |
(Provision) release for credit losses | (11,614) | (2,134) | (29,491) | (9,241) |
Non-interest income (loss) | 6,756 | 4,400 | 14,843 | 12,255 |
Direct non-interest expenses | (7,659) | (7,768) | (22,647) | (25,810) |
Segment income | 8,149 | 11,489 | 17,882 | 29,255 |
Average earnings assets | 2,243,345 | 2,141,383 | 2,076,419 | 2,182,680 |
Operating Segments [Member] | Consumer Reatail Banking Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest Income | 60,157 | 55,772 | 174,848 | 158,548 |
Net (charge) credit for transfer of funds | 3,514 | 16,557 | 19,485 | 54,743 |
Interest expense | (9,348) | (10,165) | (28,724) | (27,377) |
Net interest income | 54,323 | 62,164 | 165,609 | 185,914 |
(Provision) release for credit losses | (12,404) | (11,187) | (56,254) | (28,982) |
Non-interest income (loss) | 12,315 | 12,705 | 36,634 | 39,238 |
Direct non-interest expenses | (32,035) | (30,282) | (89,659) | (88,533) |
Segment income | 22,199 | 33,400 | 56,330 | 107,637 |
Average earnings assets | 2,197,601 | 2,009,060 | 2,141,329 | 1,914,372 |
Operating Segments [Member] | Commercial And Corporate Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest Income | 37,571 | 39,146 | 102,225 | 114,643 |
Net (charge) credit for transfer of funds | (1,768) | (13,447) | (15,594) | (45,472) |
Interest expense | 0 | 0 | 0 | 0 |
Net interest income | 35,803 | 25,699 | 86,631 | 69,171 |
(Provision) release for credit losses | (19,139) | 5,677 | (51,844) | 12,665 |
Non-interest income (loss) | 2,838 | 2,331 | 7,673 | 7,146 |
Direct non-interest expenses | (6,251) | (8,256) | (19,688) | (26,869) |
Segment income | 13,251 | 25,451 | 22,772 | 62,113 |
Average earnings assets | 3,064,272 | 2,487,409 | 2,684,803 | 2,509,611 |
Operating Segments [Member] | Treasury And Investments Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest Income | 12,572 | 15,671 | 41,631 | 47,553 |
Net (charge) credit for transfer of funds | 11,972 | 11,411 | 34,441 | 34,403 |
Interest expense | (5,967) | (8,935) | (20,523) | (29,152) |
Net interest income | 18,577 | 18,147 | 55,549 | 52,804 |
(Provision) release for credit losses | 0 | 0 | (2,765) | 0 |
Non-interest income (loss) | 5,457 | (433) | 13,777 | (287) |
Direct non-interest expenses | (717) | (740) | (2,133) | (2,031) |
Segment income | 23,317 | 16,974 | 64,428 | 50,486 |
Average earnings assets | 4,725,125 | 2,485,141 | 3,690,782 | 2,429,576 |
Operating Segments [Member] | United States Operations Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest Income | 20,427 | 24,229 | 63,754 | 73,350 |
Net (charge) credit for transfer of funds | (2,091) | (1,421) | (4,156) | (4,232) |
Interest expense | (5,418) | (7,831) | (19,659) | (21,790) |
Net interest income | 12,918 | 14,977 | 39,939 | 47,328 |
(Provision) release for credit losses | (1,679) | (1,462) | (15,944) | (7,764) |
Non-interest income (loss) | 1,058 | 640 | 2,534 | 1,942 |
Direct non-interest expenses | (8,387) | (8,496) | (25,221) | (25,641) |
Segment income | 3,910 | 5,659 | 1,308 | 15,865 |
Average earnings assets | 2,061,596 | 1,963,559 | 2,025,482 | 1,935,768 |
Operating Segments [Member] | Virgin Islands Operations Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest Income | 7,382 | 7,386 | 22,471 | 22,690 |
Net (charge) credit for transfer of funds | 0 | 0 | 0 | 0 |
Interest expense | (973) | (939) | (2,821) | (2,806) |
Net interest income | 6,409 | 6,447 | 19,650 | 19,884 |
(Provision) release for credit losses | (2,078) | 1,708 | (6,996) | 1,982 |
Non-interest income (loss) | 1,510 | 1,758 | 5,565 | 5,873 |
Direct non-interest expenses | (7,231) | (7,105) | (21,970) | (22,090) |
Segment income | (1,390) | 2,808 | (3,751) | 5,649 |
Average earnings assets | $ 466,315 | $ 466,707 | $ 460,217 | $ 470,236 |
SEGMENT INFORMATION - Reconcili
SEGMENT INFORMATION - Reconciliation of Reportable Segment Financial Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net Income (Loss): | ||||
Income before income taxes | $ 24,208 | $ 65,595 | $ 50,809 | $ 185,825 |
Income tax (benefit) expense | 4,405 | (19,268) | 1,326 | (54,897) |
Net income | 28,613 | 46,327 | 52,135 | 130,928 |
Segment Reconciling Items [Member] | ||||
Net Income (Loss): | ||||
Total income for segments and other | 69,436 | 95,781 | 158,969 | 271,005 |
Other operating expenses | (45,228) | (30,186) | (108,160) | (85,180) |
Income before income taxes | 24,208 | 65,595 | 50,809 | 185,825 |
Income tax (benefit) expense | (4,405) | 19,268 | (1,326) | 54,897 |
Net income | 28,613 | 46,327 | 52,135 | 130,928 |
Average assets: | ||||
Total average earning assets for segments | 14,758,254 | 11,553,259 | 13,079,032 | 11,442,243 |
Average non-earning assets | 1,047,401 | 933,250 | 975,744 | 964,799 |
Total consolidated average assets | $ 15,805,655 | $ 12,486,509 | $ 14,054,776 | $ 12,407,042 |
REGULATORY MATTERS, COMMITMEN_3
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Jan. 01, 2020 | |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Percentage Of Increase In ACL Adjusted In Capital Measures | 25.00% | |
Commitments To Extend Credit [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Commitments | $ 2,000 | |
Commitments To Extend Credit [Member] | Credit Card [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Commitments | 1,100 | |
Commitments To Extend Credit [Member] | Commercial And Financial Standby Letters Of Credit [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Commitments | $ 124.6 | |
Retained Earnings [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Cummulative Effect Of New Accounting Principle In Period Of Adoption Adjusted In Capital Measures | $ 62.3 | |
Basel III [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Capital Conservation Buffer | 2.50% | |
Basel III [Member] | Minimum [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Common Equity Tier 1 Capital To Risk Weight Assets Ratio Capital Adequacy | 4.50% | |
Common Equity Tier 1 Capital To Risk Weight Assets Ratio Plus Common Equity Tier 1 Capital Conservation Buffer | 7.00% | |
Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets | 6.00% | |
Total Tier 1 Capital To Risk Weight Assets Ratio Plus Common Equity Tier 1 Capital Conservation Buffer | 8.50% | |
Capital Required For Capital Adequacy To Risk Weighted Assets | 8.00% | |
Capital Required For Capital Adequacy To Risk Weighted Assets Plus Common Equity Tier 1 Capital Conservation Buffer | 10.50% | |
Leverage Ratio Required Fo Capital Adequacy Ratio | 4.00% |
REGULATORY MATTERS, COMMITMEN_4
REGULATORY MATTERS, COMMITMENTS AND CONTINGENCIES- Regulatory Capital Positions (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Holding Company [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total Capital (to Risk-Weighted Assets) | $ 2,358,608 | $ 2,286,337 |
Total Capital (to Risk-Weighted Assets) Ratio | 20.32% | 25.22% |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 928,727 | $ 725,236 |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 8.00% | 8.00% |
Common Equity Tier One Capital | $ 1,998,067 | $ 1,957,887 |
Common Equity Tier One Capital (to Risk-Weighted Assets) Ratio | 17.21% | 21.60% |
Common Equity Tier One Capital Required for Capital Adequacy | $ 522,409 | $ 407,946 |
Common Equity Tier One Capital (to Risk-Weighted Assets) Required for Capiral Adequacy Ratio | 4.50% | 4.50% |
Tier One Capital (to Risk-Weighted Assets) | $ 2,034,171 | $ 1,993,991 |
Tier One Capital (to Risk-Weighted Assets) Ratio | 17.52% | 22.00% |
Tier One Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 696,545 | $ 543,927 |
Tier One Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 6.00% | 6.00% |
Leverage ratio, amount | $ 2,034,171 | $ 1,993,991 |
Leverage Ratio, ratio | 13.04% | 16.15% |
Leverage Ratio Required Fo Capital Adequacy Ratio | 4.00% | 4.00% |
Leverage Ratio Required For Capital Adequacy | $ 623,885 | $ 493,786 |
FirstBank [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total Capital (to Risk-Weighted Assets) | $ 2,300,760 | $ 2,242,262 |
Total Capital (to Risk-Weighted Assets) Ratio | 19.83% | 24.74% |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 928,372 | $ 725,047 |
Total Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 8.00% | 8.00% |
Total Capital (to Risk-Weighted Assets) Required To Be Well Capitalized | $ 1,160,465 | $ 906,309 |
Total Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio | 10.00% | 10.00% |
Common Equity Tier One Capital | $ 1,846,628 | $ 1,820,571 |
Common Equity Tier One Capital (to Risk-Weighted Assets) Ratio | 15.91% | 20.09% |
Common Equity Tier One Capital Required for Capital Adequacy | $ 522,209 | $ 407,839 |
Common Equity Tier One Capital (to Risk-Weighted Assets) Required for Capiral Adequacy Ratio | 4.50% | 4.50% |
Common Equity Tier One Capital Required to be Well-Capitalized | $ 754,302 | $ 589,101 |
Common Equity Tier One Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio | 6.50% | 6.50% |
Tier One Capital (to Risk-Weighted Assets) | $ 2,154,628 | $ 2,128,571 |
Tier One Capital (to Risk-Weighted Assets) Ratio | 18.57% | 23.49% |
Tier One Capital (to Risk-Weighted Assets) Required For Capital Adequacy | $ 696,279 | $ 543,785 |
Tier One Capital (to Risk-Weighted Assets) Required For Capital Adequacy Ratio | 6.00% | 6.00% |
Tier One Capital (to Risk-Weighted Assets) Required To Be Well Capitalized | $ 928,372 | $ 725,047 |
Tier One Capital (to Risk-Weighted Assets) Required To Be Well Capitalized Ratio | 8.00% | 8.00% |
Leverage ratio, amount | $ 2,154,628 | $ 2,128,571 |
Leverage Ratio, ratio | 13.83% | 17.26% |
Leverage Ratio Required Fo Capital Adequacy Ratio | 4.00% | 4.00% |
Leverage Ratio Required To Be Well Capitalized | $ 779,223 | $ 616,552 |
Leverage Ratio Required For Capital Adequacy | $ 623,378 | $ 493,242 |
Leverage Ratio Required To Be Well Capitalized Ratio | 5.00% | 5.00% |
FIRST BANCORP. (Holding Compa_3
FIRST BANCORP. (Holding Company Only) Financial Information - Statements of Financial Condition (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 |
ASSETS | |||
Cash and due from banks | $ 2,360,524 | $ 546,391 | $ 878,206 |
Money market investments | 108,983 | 97,708 | 97,731 |
Other assets | 414,217 | 177,842 | |
Total assets | 18,659,768 | 12,611,266 | |
Liabilities: | |||
Other borrowings | 183,762 | 184,150 | |
Accounts payable and other liabilities | 257,826 | 180,614 | |
Total liabilities | 16,434,486 | 10,383,193 | |
Stockholders Equity | 2,225,282 | 2,228,073 | $ 2,200,595 |
Total liabilities and stockholders' equity | 18,659,768 | 12,611,266 | |
Holding Company [Member] | |||
ASSETS | |||
Cash and due from banks | 11,155 | 16,895 | |
Money market investments | 6,211 | 6,211 | |
Other investment securities | 285 | 285 | |
Other assets | 3,545 | 509 | |
Total assets | 2,412,357 | 2,416,601 | |
Liabilities: | |||
Other borrowings | 183,762 | 184,150 | |
Accounts payable and other liabilities | 3,313 | 4,378 | |
Total liabilities | 187,075 | 188,528 | |
Stockholders Equity | 2,225,282 | 2,228,073 | |
Total liabilities and stockholders' equity | 2,412,357 | 2,416,601 | |
Holding Company [Member] | Investment in First Bank Puerto Rico, at equity [Member] | |||
ASSETS | |||
Equity Method Investments | 2,345,385 | 2,362,182 | |
Holding Company [Member] | Investment in First Bank Insurance Agency, at equity | |||
ASSETS | |||
Equity Method Investments | 40,264 | 24,995 | |
Holding Company [Member] | Fbp Statutory Trust One [Member] | |||
ASSETS | |||
Equity Method Investments | 1,951 | 1,963 | |
Holding Company [Member] | Fbp Statutory Trust Two [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 | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Income: | ||||
Interest income on money market investments | $ 13,808 | $ 13,985 | $ 44,222 | $ 44,723 |
Other income | 405 | 4,081 | 2,950 | 10,311 |
Total interest income | 170,402 | 172,295 | 494,282 | 508,277 |
Expense: | ||||
Gains Losses On Extinguishment Of Debt | 94 | 0 | 94 | 0 |
Income tax (benefit) expense | 4,405 | (19,268) | 1,326 | (54,897) |
Net income | 28,613 | 46,327 | 52,135 | 130,928 |
Other comprehensive income, net of tax | (7,943) | 7,562 | 38,563 | 45,539 |
Comprehensive income | 20,670 | 53,889 | 90,698 | 176,467 |
Holding Company [Member] | ||||
Income: | ||||
Interest income on money market investments | 12 | 44 | 60 | 189 |
Other income | 51 | 70 | 399 | 216 |
Total interest income | 14,545 | 7,864 | 41,829 | 28,905 |
Expense: | ||||
Other borrowings | 1,356 | 2,331 | 5,029 | 7,210 |
Other operating expenses | 607 | 644 | 1,665 | 1,749 |
Total operating expenses | 1,963 | 2,975 | 6,694 | 8,959 |
Gains Losses On Extinguishment Of Debt | 94 | 0 | 94 | 0 |
Income before income taxes and equity in undistributed earnings of subsidiaries | 12,676 | 4,889 | 35,229 | 19,946 |
Income tax (benefit) expense | 448 | 1,037 | 1,671 | 2,376 |
Equity in undistributed earnings of subsidiaries | 16,385 | 42,475 | 18,577 | 113,358 |
Net income | 28,613 | 46,327 | 52,135 | 130,928 |
Other comprehensive income, net of tax | (7,943) | 7,562 | 38,563 | 45,539 |
Comprehensive income | 20,670 | 53,889 | 90,698 | 176,467 |
Investment In Banking Subsidiary [Member] | Holding Company [Member] | ||||
Income: | ||||
Dividend income | $ 14,482 | $ 7,750 | $ 41,370 | $ 28,500 |
Uncategorized Items - fbp093020
Label | Element | Value |
Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member] | ||
Stockholders Equity After New Accounting Principle In Period Of Adoption | fbp_StockholdersEquityAfterNewAccountingPrincipleInPeriodOfAdoption | $ 1,159,495,000 |
Stockholders Equity After New Accounting Principle In Period Of Adoption | fbp_StockholdersEquityAfterNewAccountingPrincipleInPeriodOfAdoption | 0 |
Stockholders Equity After New Accounting Principle In Period Of Adoption | fbp_StockholdersEquityAfterNewAccountingPrincipleInPeriodOfAdoption | 0 |
Stockholders Equity After New Accounting Principle In Period Of Adoption | fbp_StockholdersEquityAfterNewAccountingPrincipleInPeriodOfAdoption | 1,159,828,000 |
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | Retained Earnings [Member] | ||
Cumulative Effect Of New Accounting Principle In Period Of Adoption 1 | fbp_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | 0 |
Cumulative Effect Of New Accounting Principle In Period Of Adoption 1 | fbp_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | (62,322,000) |
Cumulative Effect Of New Accounting Principle In Period Of Adoption 1 | fbp_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | 0 |
Cumulative Effect Of New Accounting Principle In Period Of Adoption 1 | fbp_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | $ 0 |